Point and Figure Charts Update as at November 17 (updated) - forex trade alert season 15

Point and Figure Charts Update as at November 17 (updated) ~ forex trade alert season 15

Point and Figure Charts can give us some idea as to where the markets are headed. This method of charting has been used for many years and has been proven to have excellent results over the longer term.

I find it handy to have a look at various P&F charts from time to time to keep me current as to where the directions of currencies may be headed.

Most of the time on the P&F charts from Stockcharts.com is a target number where the price is expected to travel.

Here are some charts from some of the major currencies as at today.

Here is an excellent video primer on Point and Figure Charting

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My Gold Trading Strategy as at November 17 (updated) - forex trade alerts season 13

My Gold Trading Strategy as at November 17 (updated) ~ forex trade alerts season 13

Today was a quiet one for the Gold trading strategy. As you will see on this 60 minute chart, Gold was lingering around the daily pivot for the duration.

Because there was little activity and little in the way of news, most traders have avoided Gold for today.

That gives us a chance to think about the longer term for Gold. Below is a Point and Figure chart and the long term price objective, as you will see is $1,050.00 indicating that a further easing of the price may be in order.

This next chart is Monthly and on it you can see three arrows pointing to long candle wicks and they are all at around the current price of $1,186, indicating that this price is one where we can expect an area of congestion.

A couple articles studying the current position of Gold at this time.



Gold Lending Rate Most Negative Since 2001 on Longer Refining - Businessweek

Mon, 17 Nov 2014 17:04:45 GMT
There are other signs of rising consumer demand for gold. The U.S. Mint sold 46,000 ounces of American Eagle gold coins this month, compared with Octobers total of 67,500 ounce ...

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Top Five Reasons to Invest in Gold and Silver - KIRO Seattle

 Mon, 17 Nov 2014 21:35:46 GMT
Gold Eagle sales were also high, with a total of 121,500 sold in October, compared to last years October sales of only 89,000. Strong demand usually drives higher prices. 3. Investors and hedg ...

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GLD Came At Start Of Gold Bull Run; Demand For Gold ETFs Topped Expectations - Forbes

Mon, 17 Nov 2014 15:25:01 GMT
Even after heavy liquidations during the past two years as the price of gold fell, SPDR Gold Shares (GLD) holds more metal than most of the worlds central banks ...

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GLD: ETF Outflow Alert - Nasdaq

Mon, 17 Nov 2014 17:22:40 GMT
Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel , one standout is the SPDR Gold Shares (Symbol: GLD) where we have detected an approximate $449.4 million dollar ...

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Good Trading.!

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Ichimoku Trading Strategy Chart of the Day November 17 (updated) - forex income engine trade alert software free download

Ichimoku Trading Strategy Chart of the Day November 17 (updated) ~ forex income engine trade alert software free download

AUDNZD: After a pair of Dojis there is a Tenkan cross and price is dropping, a clear signal for a short entry.

There had been significant support holding price up for many days and the Ichimoku Cloud could not be breached with many attempts. At last price was able to break through the cloud and there should be a good move resulting.

Ischimoku Kinko Hiyo is an excellent trend trading strategy used by many banks and institutional traders.
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Gold Analysis as at January 17 (updated) - online trading academy forex review

Gold Analysis as at January 17 (updated) ~ online trading academy forex review

Your Gold Trading Strategy will have been altered significantly this week as the metal has made a strong move north.

I have a few charts with some notations for you to have a look at, below those is some current commentary which you may find of interest.


This first chart shows Harmonics and may indicate there will be a reversal.

Here is the pivots on the weekly chart, price has stalled there, at least termporarily.

The Ichimoku Cloud appears to be offering significant resistance on the weekly chart.

On this next chart, which is weekly we can see a bearish Fibonacci pattern

And on this weekly chart we have a bullish Fibonacci Pattern

Now we have the Point & Figure Chart from Stockcharts.com. They have revised the target from $1,050 to $1,510 so this weeks move had had an effect on the P&F calculations.

Swiss shock no game changer for gold? - CNBC

Fri, 16 Jan 2015 12:39:36 GMT
CNBCSwiss shock no game changer for gold?CNBCBut on the negative side, she said that the momentum for the Swiss franc—which surged 30 percent against the dollar on the SNBs move–created competition between the Swiss franc and gold as a safe haven ...

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Gold Climbs to Four-Month High as Open Interest Surges - Bloomberg

 Fri, 16 Jan 2015 06:16:31 GMT
Wall Street Journal (blog)Gold Climbs to Four-Month High as Open Interest SurgesBloomberg“Theres a lot more uncertainty in Europe and the U.S., and thats piqued a lot of investors interest in gold,” Fain Shaffer, the president at Infinity Trading ...

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2015 Stock Picks: Our Gold Plays Surge Ahead This Week - Money Morning

Sat, 17 Jan 2015 04:16:44 GMT
2015 Stock Picks: Our Gold Plays Surge Ahead This WeekMoney MorningThe past couple of years have seen considerable pressure on most gold equities, thanks in large part to a declining, then consolidating, gold price, Money Morning Resource Specialis ...

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PRECIOUS-Risk aversion puts gold on track for biggest weekly gain since 2013 - Reuters

Fri, 16 Jan 2015 21:51:10 GMT
PRECIOUS-Risk aversion puts gold on track for biggest weekly gain since 2013ReutersNEW YORK/LONDON, Jan 16 (Reuters) - Gold rose to a four-month high on Friday and was set to increase 4.5 percent for the week, its biggest weekly gain since August 201 ...

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Awesome Oscillator Renko Divergence Trade from August 17 (updated) - forex trading institute in uk

Awesome Oscillator Renko Divergence Trade from August 17 (updated) ~ forex trading institute in uk

Using Divergence as a trading strategy can be rewarding and using the awesome oscillator with Renko bars can be quite simple.

Here is an example from today’s trading on the EURUSD currency pair.

You can see that this entry provided a nice profit, above all, it was easy to see the divergence pattern. A person could be working with several charts at the same time and observing divergences.

In another post from yesterday I pointed out a divergence on the same pair. While the divergence did give trade, it was not the greatest profit. Some of them are good and some are not so good, as with any trading strategy.
Here is the chart I am referring to, probably the best entry was to wait for a couple bars to be above the 0 line on the oscillator to ensure that there was a good move.

Divergence trades are plentiful, and the tools that can be used are several.

Here are a few examples of divergence:

http://boutiquetradingstrategies.blogspot.ca/2014/11/what-is-best-for-determining-divergence.html
http://boutiquetradingstrategies.blogspot.ca/2014/11/can-we-use-twiggs-money-flow-for.html
http://boutiquetradingstrategies.blogspot.ca/2014/11/exelon-is-showing-bearish-divergence.html
http://boutiquetradingstrategies.blogspot.ca/2014/11/divergent-opportunities-for-november-4.html
As I mentioned previously, divergence is not a fool proof method for a trading strategy, it is merely a tool and must be confirmed by price action

Good Trading!

Update

Here is a more recent trade in AUDUSD from January 18, 2016

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Magic Bands Scalp Trading Strategy as at November 17 (updated) - forex trade alert service

Magic Bands Scalp Trading Strategy as at November 17 (updated) ~ forex trade alert service

With some volatility in the currency markets today there were many opportunities for profits on the 5 minute charts using the Magic Bands Scalp Strategy.

I have prepared a brief video showing potential trades that occurred today.

Magic Bands is a simple trend following strategy using Bollinger Bands and a Bollinger Bands Stops indicator.

The Magic Bands Scalp Strategy is excellent for Forex trading due to the trends in Forex currency pairs.









More information re Magic Bands Scalp Strategy
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USDCAD Trading Strategy as at November 17 (updated) - forex trade alert season 14

USDCAD Trading Strategy as at November 17 (updated) ~ forex trade alert season 14

Any USDCAD Trading Strategy will have to be tempered with the view that this pair is going lower in, at least, the short term.


There have been some fluctuations in price in this pair as the two economies are facing different hurdles.

I have a chart here showing some divergence that probably indicates that the Canadian dollar will be settling lower in days to come.

I have another chart, a Point and Figure chart of the Canadian Dollar which shows a target of .86, also indicating a further drop.

In fundamental news affecting the Canadian Dollar:

• International Securities Transactions lower than expected.
• Oil Prices softening
• Gold prices easing back into a consolidation

On Friday will be released the Canadian Consumer Price Index(CPI) which may influence the Canadian Dollar in a positive way.

My expectation is that the US Dollar will resume its rise against the Canadian Dollar in the short term.











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