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On the last day we noticed that the trend was taking up direction and that's according to the new daily opening which was compared to yesterday higher than that of the last day.
On the AUDJPY chart today we noticed that a green up arrow signal is currently located below the price implying to us that for the short term trading a bullish signal is taking place.
I do think that the price level 94.1 would be the best take profit level for now because it's also acting as a strong resistance and heading up after breaking such level would be really hard.
Finally like any strategy following the rules would be the wisest choice to avoid losses and that can be done if we waited for the check indicator to make a clear blue line also green is the color the trader indicator should have in order to be sure that it is the correct bullish trend before making any attempt for buy positions.
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http://bigimage.cz/photos/20010103978497543445473.gif
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Obviously in front of us on the AUDJPY chart we can clearly see that there is a up trend taking place as we speak and from its looks of it seems to be a main trend of course that was confirmed when the 6 and 5 EMAs were located Above the 35 EMA.
From the looks of it making buy orders would be the wisest decision once a bullish direction is confirmed by the other indicators.
Also there are dots located below the candlesticks from the parabolic sar indicators showing us a upward direction adding to that the upward signal formed by the cci line when it got located at the Higher level.
Also to be sure we get a buy signal from the MACD indicator as it was moving above the level 0.
So In the end I do think buying would work greatly for me according to what we witnessed up till now unless an opposite bearish signal appears.
http://bigimage.cz/photos/20010103978508992636214.gif .
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According to the position of the price at the moment which is currently in a position lower than the 15 EMA line there is a good chance for a bearish trend to be taking place today on the AUDJPY chart.
There is a big chance for the bearish trend to take place according to the signals appearing by the power momentum indicator which is a great tool to filter the sell positions we are about to enter.
As for the power line indicator which is showing a upward direction signal due to its position which is above the 50 level at this moment.
http://bigimage.cz/photos/20010103978510892465320.gif .
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While monitoring the AUDJPY I came to realize that a bullish trend is being formed today on the chart and of course I came to that conclusion because of the green signal performed by the super trend indicator giving me a hint on where the market supposedly would be heading.
The Nolog dot indicator giving us a blue colored dot indicating that a buy signal should be taking place soon.
A week bullish trend is indicated by the signals encouraging us to take buy trades but that of course as soon as the Nonlog indicator changes it’s signal to make another confirmation for this direction.
In order to be safe we should think of the best position to act as our stop loss I believe the support located at the price 93.9 would be the perfect place for that but if this method is not convincing enough then waiting for the super trend’s color to change to red would be a good idea as well since the bullish trend would certainly be over if it met any of those conditions.
http://bigimage.cz/photos/20010103978508982454546.gif
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http://prntscr.com/4yjwm8
analysis for today 10 / 22 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle AUDJPY on the date 10 / 21 / 2014
OPEN 93.87
HIGH 94.12
LOW 93.49
CLOSED 93.87
The third resistance (R3) 94.12 - ( 93.83 - 93.49 = 0.34 x 2 = 0.67 )= 94.79
The second Resistance (R2) 93.83 + 94.12 - 93.49 = 94.46
First resistance (R1) 93.83 x 2 = 187.65 - 93.49 = 94.16
pivot points 94.12 + 93.49 + 93.87 = 281.48 / 3 = 93.83
Support for the first (S1) 93.83 x 2 = 187.65 - 94.12 = 93.53
Support second (S2) 93.83 - ( 94.12 - 93.49 = 0.63 ) = 93.20
Third Support (S3) 93.49 - ( 94.12 - 93.83 = 0.29 x 2 = 0.59 )= 92.90
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The pairPrice moves from the wave (94.22) It is noted that the limits of the trend line the main drawn to this wave along the between-level (94.18) and (94.20 It is worth mentioning that the current wave aim to reach the region (93.28) and with respect to trades this day will monitor the movement of Price among level (94.00) and standard (94.11) to seize the opportunity to enter early
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According to price position which is below the EMA indicator on the USDCHF chart I believe it will be taking a bearish direction throughout the day.
A sell signal is indicated by the RSI indicator according to the line which is currently below the center line of 35.
Using the MACD indicator we can see that the green lines are heading down which means that the market bears are the ones in control in the current period.
As a result to that I do believe that choosing the bears for the current day would be the best choice but that of course until we get an opposite buy signal via the EMA indicator when the price gets over the wave.
http://bigimage.cz/photos/20010104978567232699422.gif .
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Obviously in front of us on the AUDJPY chart we can clearly see that there is a down trend taking place as we speak and from its looks of it seems to be a main trend of course that was confirmed when the 6 and 5 EMAs were located below the 35 EMA.
From the looks of it making sell orders would be the wisest decision once a bearish direction is confirmed by the other indicators.
Also there are dots located above the candlesticks from the parabolic sar indicators showing us a downward direction adding to that the downward signal formed by the cci line when it got located at the lower level.
Also to be sure we get a sell signal from the MACD indicator as it was moving below the level 0.
So In the end I do think selling would work greatly for me according to what we witnessed up till now unless an opposite bullish signal appears.
http://bigimage.cz/photos/20010104978598163186174.gif .
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While monitoring the AUDJPY I came to realize that a bearish trend is being formed today on the chart and of course I came to that conclusion because of the red signal performed by the super trend indicator giving me a hint on where the market supposedly would be heading.
The Nolog dot indicator giving us a blue colored dot indicating that a buy signal should be taking place soon.
A week bearish trend is indicated by the signals encouraging us to take sell trades but that of course as soon as the Nonlog indicator changes it’s signal to make another confirmation for this direction.
In order to be safe we should think of the best position to act as our stop loss I believe the resistance located at the price 94.1 would be the perfect place for that but if this method is not convincing enough then waiting for the super trend’s color to change to green would be a good idea as well since the bearish trend would certainly be over if it met any of those conditions.
http://bigimage.cz/photos/20010104978598106950054.gif
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http://prntscr.com/4yw5kk
analysis for today 10 / 23 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle AUDJPY on the date 10 / 22 / 2014
OPEN 93.86
HIGH 94.50
LOW 93.57
CLOSED 93.99
The third resistance (R3) 94.50 - ( 94.02 - 93.57 = 0.45 x 2 = 0.90 )= 95.40
The second Resistance (R2) 94.02 + 94.50 - 93.57 = 94.95
First resistance (R1) 94.02 x 2 = 188.04 - 93.57 = 94.47
pivot points 94.50 + 93.57 + 93.99 = 282.06 / 3 = 94.02
Support for the first (S1) 94.02 x 2 = 188.04 - 94.50 = 93.54
Support second (S2) 94.02 - ( 94.50 - 93.57 = 0.93 ) = 93.09
Third Support (S3) 93.57 - ( 94.50 - 94.02 = 0.48 x 2 = 0.96 )= 92.61
