Friday, 25 January 2013

ASX 200 finally breaks above that trend channel that began last June

The market tested the trend channel's upper line from below many times recently, so to my way of thinking that trend line is important. While/if the market remains above it we must respect its ability to continue higher, and perhaps even accelerate.

S&P 500 hourly chart trend lines clear to me, but not the big picture

As a trader, all I need is a market and a time frame I can see trend lines that fit. As a blogger, it's frustrating not to be able to use the charts to tell a story about all time frames, but most of the time, that's how it is.

AUD/USD triangles on daily and weekly

Symmetrical triangle on weekly, as shown yesterday and many times before. Maybe a retest now?

Ascending triangle on daily? We'll see if that up trend line holds.

Gold breaks lower through short term up trend line, will it continue lower within bull flag?

Daily chart shows the trend line break. I have been labeling the down trend channel as a bull flag, implying an eventual break to new highs, and so long as the market stays above last May's low that is a valid interpretation. Certainly while Gold is above the January low that is my preferred interpretation.

Zooming out to the bigger picture on the weekly chart shows Gold remains range bound, so we must keep an open mind about a test of last May's lows, certainly if January's lows are broken.

Silver breaks lower through short term up trend line

GBP/USD keep an eye on the big picture triangle

EUR/USD steadily trending up