13 Sept 2009

Start of week analysis and direction.

Lt Sweet Crude Oct Fut – Boss Hanging Man below the Major UP TL at 69.00 level. Only short if Hanging Man low breaks. Daily shows BEOB. 67.00 is the major Level so wait for PA at this key level.

Nat Gas – Boss 'Barb Wire' at base of long down move – wait for resolution.

Gold – Up trend still intact. At key $1000 level. Only trade long but bear in mind we could be at a top after 2 strong TL breaks this could be a higher high.

DowJones Sep Fut -(YMU9) – Up TL still intact. Boss trapped under the Big Boss 20ema. PA is at top after 3 pushed up ending in a doji. Poss top. Wait for PA and TL break to go short.

FTSE Fut – Boss chart still bullish, Up TL still intact. Also had 3 pushes higher; daily on HM and IB. Poss market top. Wait for TL break and test before short.

Cable – Trapped under Monthly 20ema and at major down TL from high thru recent shooting star. Daily on Doji under up TL break. Poss LH after a TL break. Short below Doji.

Gbpyen. - Now had 2 TL break and the boss hammer last week may have trapped traders. PA stuck under boss 20ema but over boss 50 so in the TRAP. Wait for PA but with the TL breaks and double top, only consider short.

Gbpchf - Had 2 major up TL breaks and PA is still trapped under the minor down TL after a lower high. Boss bearish candle trapped under 20ema. Worker shows a BUOB then an IB. Also a triple bottom. Only short if that bottom is broken.

Eurusd – Broken out of triangle BUT has rejected 61% fib. Large bullish candle on boss but there is a daily Shooting Star on worker at this key LEVEL. Poss FAILED B/OUT Short below Star.

Audusd – Major up TL is still intact on boss with bullish PA. Worker shows Doji but poss Barb Wire – wait for PA but don't bet against the boss.

Usdchf – Boss has broken thru major levels and up TL's after BEEB. No trade here.

Usdcad – Bearish PA BUT we have had a LOWER LOW after a down TL break; PA is battling at the low and had now been supported by the broken Down TL and is now in Barb Wire. Price is also still BELOW the major Broken UP TL from the boss but the down TL support has given us a higher low. Leaning toward long but wait for resolution of BARB WIRE.

USDYEN – Major down TL's have been broken and PA is very bearish. Very steep minor down TL but the last low of the UP TL has been broken. Short only on retrace.

Euryen – Major UP TL has been broken and tested from underneath. Last boss candle was a hammer but this week gave a loose IB. Only short on retrace with good PA.

Eurgbp – Major UP Trend is still intact with minor DOWN TL now broken and poss tested. Worker gives us a HIGHER LOW and a hammer. Boss gives an Inverted Hammer. LONG ONLY

Eurnzd – Boss minor down trend still intact and now we have the MAJOR up tl broken. Could be a failed BO – Worker shows a down TL break then a lower low. Intersection of the 2 TL's. Wait for PA to decide but side with Short until proved otherwise.

Gbpcad – Messy. Still in a down Trend. Major up TL's have been broken. Large S Star on boss last week and this week an IB. Wait for break of IB but side with short.

Nzdusd – Boss is still in major UP trend. Broken thru 61% Fib retarce could be targeting the 77% retrace at 0.7386? Major UP TL's still intact. Looks too long to get in so, sit this one out.

Audyen – Boss chart in major Barb Wire – had a major up TL break then a higher high. Fallen back from this high and given a BEEB but still above UP TL. Worker shows caught in the 20/50 trap but last bar was bearish. Only short below 76.60 (break of 2nd Up TL and last low of the up trend)

Audnzd – Only short below 1.2080 below major up TL and the break of the last low of the Up Trend. Caught in a down trend channel but could be a big bull flag.