15 Nov 2009

Weekly Analysis - WE 22 Nov 09

Lt Sweet Crude Dec Fut – Long only on pullbacks – Boss shows inverted hammeragain, Closed above Mas and NO TL break yet so still long only.

Nat Gas – 4th Boss down trend bar and up TL break. Wait for a test of the BO level and poss retrace after the TL break back up to a HH or LH. Expected move after the major down trend line was breached on strong momentum so expecting a higher low test. Wait for HL to establish before going Long.

Gold (Spot)– Monthly Bull Candle breaking old highs. 2nd Boss bull trend candle after BO test 2 weeks' ago. Long Only.

DowJones Dec Fut -(YMZ9) – Monthly Doji high broken. Boss bull trend after the down TL break. After such a strong TL break there will be a retest of the BO poss back to 8944 level. Too bid for me; Worker shows a steep rising wedge with a pattern overshoot. Wait for confirmation then Short only below 10000 level.

FTSE Fut (FFIZ9)– Boss trying a 2nd BO of the 5300 level. Poss double top here with worker showing 3 dojis. If the 5300 level is rejected expect a test of the last BO level back at 4477. Too bid for me, so wait for trend change and poss short.

Cable – Boss shows a perfect doji and poss LH from the Shooting Star high some weeks back. 1.6750 level seems key so if it's rejected, short only below last low at 1.6500.

Gbpyen. - Boss still in minor Barbwire but still above the TL from the lows. Long above 153.90 and short below 145.00. Worker in pennant shape, so expect an explosive move when she goes but side with short to main TL after Dbl Top.

Gbpchf – Weekly Hang Man candle below the Mas on boss that are on top of one another. PA stuck underneath them and last UP TL so short only on pullbacks on the worker. Worker shows Shooting Star on Fri so short below 1.6832.

Eurusd – Boss shows a weak shooting star and LH after the BEEB 2 weeks ago. Still above steep TL so until that is broken its long only. Careful of poss LH Dbl top – if the test of the BO level at 1.4800 goes then get short.

Audusd – Monthly still in Up trend. Worker shows poss HH double top. Still above the TL though so until that breaks it's long only.

Usdchf – Boss give a hammer 2nd low poss dbl bottom. Still in major down trend so until the last high of that trend at 1.0350 goes it's short on pullbacks.

Usdcad – Monthly hammer off key level and gives a HL from the low at Sep 07. Boss shows a bear candle but worker gives poss HL with a BUOB. This looks like a test of the major down trend break with a HL. PA is above the down trend line so the hammer is still the controlling candle – long above candle high at 1.110.

USDYEN – Boss still in major down trend. No TL breaks yet so short only. Worker shows a BEEB on Fri so short below that at 89.45.

Euryen – Boss still rangebound; Poss weak S Star last week. Line chart above the TL from lows still, so long only above 135.40.

Eurgbp – Hang' Man last week. Worker is rangebound and stuck sideways. Unsure so Neutral.

Eurnzd – Boss gapped lower last week but still above the low of the BUEB previously. Major down TL broken so could be a test of that BO. Wait for a HL before any longs. Neutral.

Gbpcad – Boss LH with BEEB last week from previous Hang' Man candle. Back below the SR at 1.771 so short only with trend.

Nzdusd – Monthly Shooter still in play. Wait for break of the .7070 level to get short.

Audyen – Up trend still intact so long only above the last high at 85.00. Worker looking weak though with various dojis. Wait for a test of the last BO from the 82.00 level before anything.

EurCad – Mas all flat on Monthly and boss poss dbl top bear flag. Rangebound but worker still below dbl top bear flag. Wait for market to show hand.

GbpAud – Monthly hammer on trend channel overshoot low after 2 pushes down. Boss BUOB. Worker shows a poss HL IB. Long only above 1.8500.

CadJpy – Monthly bear candle boss BEEB after monthly 20ema test and rejection of descending TL from highs. Short only below 81.91 level.

NzdJpy - Monthly Shooter – Boss BEEB. Worker shows poss test of underside of the up TL. Short only below 62.88.