09 May Support And Resistance…. From The Watch List
Here’s a few charts from the current Watch list.
Most of these correlate with one another so if S/R works on one of them, it should work on all of them simultaneously. But there’s always a spanner in the works somewhere….. FTSE has broken it’s support:
NZD USD – Support
I find it interesting how important levels coincide, notice how support aligns with the original falling wedge break-out.
EUR AUD – Resistance
One of my favourites. Been waiting a while for the retest of the previous high. Now looking for a 2B top possibly with a marginal higher high:
AUD NZD – Resistance
You may already know from my last post, this one is right up there on the watch list alongside EUR:AUD above. A daily candle sell off from the 200 MA would be ideal:
DOW – Support
Wait for the FTSE chart before getting excited about this one.
FTSE – Broken Support
Does FTSE lead the Indices? Most people think not, but I believe it does. FTSE is mainly Commodity driven these days.
Time will tell whether it’s a sign of what will happen to DOW support in the above chart.
This Week's Swing Trading Round-up 12th May 2012
Posted at 23:38h, 13 May[…] write this, Sunday night futures have just broken that low.The charts I posted during the Week (in this post) outlining Resistance and Support either played out well in the short term, or, the set-ups are […]
RS2OOO
Posted at 17:12h, 14 MayNZD:USD broke the support today, however, based on positive MACD divergence on lower time frames I decided to buy it intraday on the basis of running it as a swing as long as the daily candle closes:
a) Green
b) as a doji in which case I’ll run it and see what tomorrow brings
c) above the resistance level.
RS2OOO
Posted at 21:38h, 14 MayNZD:USD out for breakeven. Didn’t fulfil criteria to run as a swing.