Today I missed trading EC. I should have looked the major pairs every day. The major pairs should include EU(1), UJ(2), GU(3), UCa(4), EG(5), EC(6), EJ(7), UC(8), GJ(9), NU(10), AU(11), AN(12).
For confirm use, CaC(13, spread 8 pips), EA(14, spread 10 pips), EN(15, spread 12 pips).
EU support:
1.4566, 200% of last uptrend
1.4309-1.4364: previous weekly support
EU resistance:
1.4950-1.4980: previous resistance
1.5300: previous resistance
Forex DataSource predicted the "normal" trading range in next week is 1.4350-1.4800, and an“extreme”range 1.4000-1.4700.
James Chen thinks the S/R are 1.44/1.4960.
UJ support:
108.50, previous resistance
UJ resistance:
currently 111.65, keep changing
114.50, previous resistance
GU support: G>U, up bias
1.8520, previous support, touched today (8.15) at 1.8511
1.8389, 1.8385, 1.8310: 50% from 2003.4.1 (2003.9.1) to 2007.11.1,
1.8303: 38.2% from 2001.6.1 to 2007.11.1
GU resistance:
1.8900: 76.4% temparory.
Forex DataSource predicted the "normal" trading range in next week is 1.82-1.87, and an “extreme” range 1.79-1.88.
Action:
Sell stop @1.8475, SL 1.8575.
UCa support: U>Ca, up bias
1.0350, previous support
UCa resistance:
1.1038, cross of 50% Fib extention from 2007.11.4 to 2008.1.20, and weekly TL 2005.5 to 2007.2
Action:
Buy @ 1.0340, SL 1.0250.
EG support: E$<$G, down bias.
0.7689, previous support
0.7668, 61.8% Fib from 2008.2.14
0.7611, previous support
0.7580: previous support
0.7567, 76.4% Fib
Action:
Currently Sell @ 0.7920, SL 0.7950. Should change SL to 0.81
EC: E$<$C, down bias.
EJ:
EC support:
1.6000, previous support
EC resistance:
1.635, previous resistance
Action:
Sell @ 1.6126, which is 8.15 daily 76.4%, SL daily 38.2% 1.6174, TP 1.6000
UC resistance: U$<$C.
1.1006, 138.2% Fib of last up move.
1.1030
1.1100
Current SL 1.1015
GJ analysis:
201.45, 61.8% from 2008.3.17 to 2008.7.23
199.78, previous support
199.33, 123.6% from 2008.7.23 to 2008.8.13
198.07-198.42, previous support
198.04, 76.4% from 2008.3.17 to 2008.7.23.
NU: N>U, up bias. Current 0.7060. Spread 5 pips.
Action:
Buy @0.7026+spread=0.7031, target @ 0.74, SL 0.68
AU support: no bias. (recent lowest 0.8591)
0.8559: 50% Fib from 2006.6.25 to the highest
0.8511, previous support
0.8509: 61.8% Fib from 2007.3.4 to the highest
0.8505: 61.8% Fib from 2007.8.12 to the highest
0.8432: 50% Fib from 2006.3.26 to the highest
0.8403-0.8483; 0.8282; 0.8049.
0.8187: 76.4% from 2007.8.12 to 2008.7.13; TL 2006.3.26 low -2007.8.12 low;
AU resistance:
0.8874, 0.8888: 76.4% from 2008.7.22 (7.15) to 2008.8.13
Action: Buy @ 0.8520, SL 0.8410
AN support: A$<$N, down bias.
1.2120, previous support
1.2060-1.2070, previous resistance
Put them together, we have
G>U>Ca;
G>C>E;
N>U>Ca;
C>U>Ca;
N>A;
Based on the 4th equation, we should see a drop in CaC. When we look at the chart CaC, it can be seen that we just have 6 consecutive white daily bars. A retracement may happen early next week. But the chart also shows that the pair just rised through the upper TL for a potential further rise. If this happens, then the 4th equation is questionable, and C>U should be changed to U>C, and UC may rise further. In this case, the above 4 equations will be changed to,
G>U>Ca>C>E;
N>U>Ca>C>E;
N>A;
Action: Sell EN, UN,
AU +0.02%
GU:-1.299%
GU: 1.6%
this week ending 15 August: +1.789%, 7 out of 11 win, floating loss: -0.803%
the week ending 8 August: +1.369%, 3 out of 6 win.
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