110219 - The Week in Pictures

In my last post I talked about Harmonic Patterns. Unless you are a geometry enthusiast, or have a very good eye, using pattern recognition software for these empirical signals is essential. If your software can detect the patterns reasonably quickly and communicate those signals to your encompassing system, you are in for some potentially profitable trades.

AUDUSD showing recent Bullish 5-0 pattern

AUDUSD - A Bullish 5-0 pattern was indicated late last Wednesday. The 3day Linear Regression Channel Indicator shows the whole short-term trend so far. I also expanded the chart to show confirmation of the previous Bearish Gartley pattern detected on 19th January.

EURCHF showing Bearish 5-0 Pattern

EURCHF exhibited a Bearish 5-0 early afternoon of 6th January. This was later confirmed by the Smoothed RSI Inverse Fisher Transform Indicator, and made for a potentially very nice trade.

EURGBP continues sideways move

EURGBP was interesting from a gridding point of view this week. Volatility of this pair has decreased since set up, and the Watcher's grid setting is now probably a little too narrow. Whilst there are several good swings in the price, Watcher only managed to capture one of them, price continually bouncing just below one of the grid lines.

USDCAD bouncing of nDay low point

USDCAD again bounced off its nDay low point this week. As for the last 2 times this has happened, waiting until the open of the first bar following breach of the old low point presented the best opportunity.

USDCHF nearing all-time low

USDCHF again approaching its all-time low of 93c. Look for some good opportunities as it gets closer to this level.