Friday, 05/04/2018
TECHNALYSIS: US dollar is inclined to decline against the euro

Spot quotes:	EUR/USD	USD/JPY	GBP/USD	USD/CHF
Weekly trend	Down	Sideways trend	Down	Up
Monthly trend	Down	Down	Up	Up
200 days chipped Wed	1.2232	108.73	1.3882	0.9584
3rd resistance	1.2060	109.75	1.3700	1.0080
2nd resistance	1.2035	109.55	1.3660	1.0040
1st resistance	1.2010	109.35	1.3620	1.0000
Pivot point*	1.1988	109.09	1.3577	0.9977
1st support	1.1950	108.75	1.3535	0.9955
2nd support	1.1915	108.50	1.3500	0.9930
3rd support	1.1880	108.15	1.3455	0.9900

EUR/USD intraday: The RSI index is showing upward momentum. Long positions above 1.1950 with targets at 1.2010 and 1.2035 seem appropriate. If the pair falls beyond 1.1950, it will target 1.1915 and 1.1880.

EUR/USD on the monthly chart: Downward trend.

USD/JPY during the day: The RSI index is giving negative signals and indicates a further decline in the pair. Short positions below 109.35 with targets at 108.75 and 108.50 seem appropriate. With growth beyond 109.35, the pair will target 109.55 and 109.75.

USD/JPY on the monthly chart: Downward trend.

GBP/USD during the day: Until the resistance of 1.3620 is broken, there is a high risk of falling below 1.3535. Short positions with target levels of 1.3535 and 1.3500 seem appropriate. If the pair rises above 1.3620, it will target 1.3660 and 1.3700.

GBP/USD on the monthly chart: Uptrend.

USD/CHF intraday: The support base formed at 0.9955 allows the pair to temporarily stabilize. Long positions above 0.9955 with targets at 1.0000 and 1.0040 seem appropriate. If the pair falls beyond 0.9955, it will target 0.9930 and 0.9900.

USD/CHF on the monthly chart: Uptrend.

Spot quotes:	EUR/GBP	EUR/JPY	EUR/CHF	AUD/USD
Weekly trend	Down	Sideways trend	Up	Down
Monthly trend	Up	Down	Up	Down
200 days chipped Wed	0.8812	132.96	1.1721	0.7795
3rd resistance	0.8895	132.10	1.2002	0.7605
2nd resistance	0.8870	131.65	1.1994	0.7585
1st resistance	0.8845	131.20	1.1986	0.7570
Pivot point*	0.8831	130.79	1.1961	0.7545
1st support	0.8805	130.55	1.1951	0.7525
2nd support	0.8780	130.25	1.1937	0.7500
3rd support	0.8760	130.00	1.1929	0.7485

Intraday EUR/GBP: The RSI is above the neutral level of 50. Long positions above 0.8805 with targets at 0.8845 and 0.8870 appear appropriate. With a decline beyond 0.8805, the pair will target 0.8780 and 0.8760.

EUR/GBP on the monthly chart: Uptrend.

EUR/JPY intraday: The RSI gives mixed and negative signals. Short positions below 131.20 with targets at 130.55 and 130.25 seem appropriate. With a rise above 131.20, the pair will target 131.65 and 132.10.

EUR/JPY on the monthly chart: Downward trend.

Intraday EUR/CHF: The RSI is above the neutral level of 50. MACD indicator positive and below the signal line. The pair may pull back. The pair is trading above the 20- and 50-period moving averages at 1.1960 and 1.1956, respectively. Trading above the 1.1951 support, the pair will target 1.1986. A break below 1.1951 would target the pair at 1.1937 and 1.1929.

EUR/CHF on the monthly chart: Uptrend.

Intraday AUD/USD: The RSI is showing upward momentum. Long positions above 0.7525 with targets at 0.7570 and 0.7585 seem appropriate. If the pair falls below 0.7525, it will target 0.7500 and 0.7485.

AUD/USD on the monthly chart: Downward trend.

*The pivot point is calculated as the sum of the high, low and closing level divided by three.

Technical analysis for the current week according to seven main currency pairs.
Dow Jones Newswires Column, by Jerry Tan / Jerry Tan /, SINGAPORE.

.... sorry no for this week (

Indicators for the MasterForex TS can be downloaded from here _http://depositfiles.com/ru/files/onbsdglz8

The Masterforex-V Academy has DJ news feeds where Axel levels are indicated, as well as an indicator that allows you to display them in MT4.
Please tell me where else I can get these lines.
Indicators for the MasterForex TS can be downloaded from here _http://depositfiles.com/ru/files/onbsdglz8/]Deposit Files]

The levels of Rudolf Axel (now Francis Bray is his “successor”) are published daily in the Dow Jones news feed. Naturally, without a time delay, it is paid.
There are plenty of Axel Rudolph level indicators, use the search engine: _http://usd.ucoz.ru/forum/12-112-1#4766 here is an example

But not a single indicator provides exactly the same data as published.
Axel still corrects them according to his algorithm.
A free always fresh TECHNALYSIS OF EUROPEAN CURRENCY MARKETS,
by Francis Bray, Axel Rudolph You can _http://usd.ucoz.ru/blog watch here

PS. Before writing this, I searched the entire forum. I thought if I found a thread with Axel (or Bray), I would just post levels there regularly. I didn't want to duplicate it. But then I came across this one with a specific question. Naturally, it made no sense to regularly publish levels in it. Well, if you think that your users don’t need it, then I don’t need it either

Friday, January 14, 2011

Euro consolidates downwards

• Spot at 06.04 GMT 1.3343 82.54 1.5834 0.9636
• Three-day trend Up Down Up Down
• Weekly trend Down Up Up Up
• 200 days skol.av 1.3327 85.52 1.5614 1.0112
• 3rd resistance 1.3500 83.50 1.6000 0.9784
• 2nd resistance 1.3435 83.15 1.5928 0.9764
• 1st resistance 1.3383 82.86 1.5910 0.9728
• Pivot point* 1.3279 82.83 1.5813 0.9671
• 1st support 1.3322 82.47 1.5720 0.9600
• 2nd support 1.3235 82.31 1.5665 0.9565
• 3rd support 1.3145 82.25 1.5575 0.9542

Intraday EUR/USD: Thursday's strength has seen the pair reach key resistance levels at 1.3383, which is likely to trigger downward consolidation towards the 1.3145 area. The dominant bearish pennant's resistance line is also located near Thursday's high at 1.3383, and shorts will be looking to defend this area for the downtrend to continue. A strong break of 1.3383 would trigger further gains towards the January 4 reaction high of 1.3435.

EUR/USD on the weekly chart: Downward trend.

USD/JPY intraday: Thursday's fall below 82.80 continues the corrective decline from the January 7 high of 83.70 within the bull flag towards 82.25. This decline consolidates a powerful rally from 80.93 to 83.70. The 50% correction level is located at 82.31. This means that the corrective decline will likely be limited to the 82.25-31 area. A rise above 82.86 will improve the tone of the pair and open the way to 83.15.

Intraday GBP/USD: The short-term uptrend has received a strong continuation with a break of 1.5779, with the December 14 lower high at 1.5910 now the nearest target. At 1.5928 there is a target Fibonacci extension level of 1.618, protecting the level of 1.6000. However, this surge from the Dec. 28 reaction low at 1.5347 is considered part of a larger 5-month head and shoulders reversal pattern and is capped at 1.6000. Good support is located at 1.5665, which is protected by 1.5720.

Intraday USD/CHF: The pair's weakness on Thursday confirms Thursday's peak at 0.9784. Support at 0.9600 is under threat. The lower high at 0.9764 was confirmed and there is room for further declines towards the 1.618 Fibonacci extension target at 0.9565. The 50% Fibonacci retracement level of the advance wave from 0.9301 to 0.9784 is at 0.9542 and likely caps the decline. Only trading above 0.9728 will bring the 0.9764-0.9784 highs back into view.

USD/CHF on the weekly chart: Uptrend.

• Spot at 06.35 GMT 0.8424 110.17 1.2869 0.9958
• Three-day trend Up Up Up Up
• Weekly trend Down Up Up Down
• 200 days chipped Wed 0.8535 113.95 1.3463 0.9453
• 3rd resistance 0.8500 111.94 1.3000 1.0079
• 2nd resistance 0.8485 111.50 1.2964 1.0021
• 1st resistance 0.8450 110.67 1.2934 0.9994
• Pivot point* 0.8397 110.01 1.2818 0.9972
• 1st support 0.8375 109.93 1.2770 0.9950
• 2nd support 0.8340 109.50 1.2725 0.9910
• 3rd support 0.8285 108.72 1.2650 0.9880

/To be continued/ (but most likely not here)

Continued 01/14/2011

Spot quotes: EUR/GBP EUR/JPY EUR/CHF AUD/USD
Spot at 06.35 GMT 0.8424 110.17 1.2869 0.9958
Three-day trend Up Up Up Up

200 days chipped Wed 0.8535 113.95 1.3463 0.9453
3rd resistance 0.8500 111.94 1.3000 1.0079
2nd resistance 0.8485 111.50 1.2964 1.0021
1st resistance 0.8450 110.67 1.2934 0.9994
Pivot point* 0.8397 110.01 1.2818 0.9972
1st support 0.8375 109.93 1.2770 0.9950
2nd support 0.8340 109.50 1.2725 0.9910
3rd support 0.8285 108.72 1.2650 0.9880

Intraday EUR/GBP: Resistance at 0.8450 limits corrective recovery. The pair is expected to consolidate down to 0.8375, but there is good support at 0.8340 that will limit this weakening. A fresh wave of upward pressure is needed for a break of 0.8450, which will open the way to 0.8500. Support at 0.8340 protects the January 10 reaction low at 0.8285.

Intraday EUR/JPY: The pair continues to recover, aiming to exceed 110.24. Investors betting on the pair's growth will try to secure their positions above 110.00 in order to break through the resistance at 110.67. There is a risk of consolidation down towards the 109.50 area, but there is technical space to reach the 108.72 level before the pair finds support. A fresh wave of upward pressure is needed for a break of 110.67, which will open the way to 111.94.

Intraday EUR/CHF: The pair continues its strong recovery towards new monthly highs, aiming to break above 1.2872. A rise above this level will open the way to the resistance cluster area of ​​1.2934-64. The upper boundary of this area is the Fibonacci extension target level of 1.618. It is located near the 38.2% Fibonacci retracement level of the dominant decline wave from 1.3835 to 1.2398. If the pair declines, it will find support in the area of ​​1.2725.

Intraday AUD/USD: Resistance at 1.0021 provokes consolidation of the pair down towards the 0.9910 area. A break below 0.9950 is needed for the pair to target the 0.9910 area, but declines will be limited during Friday's session. A fresh wave of upward pressure is needed for a break of 1.0021, which will create room for gains to 1.0079 and 1.0100.

*The pivot point is calculated as the sum of the high, low and closing level divided by three.

Monday, 01/17/2011
TECHNALYSIS OF EUROPEAN CURRENCY MARKETS:
The euro's downward consolidation will continue

Spot quotes: EUR/USD USD/JPY GBP/USD USD/CHF
Spot at 05.54 GMT 1.3335 82.91 1.5855 0.9646


200 days skol.av 1.3328 85.50 1.5632 1.0107
3rd resistance 1.3510 83.70 1.6000 0.9764
2nd resistance 1.3458 83.47 1.5928 0.9708
1st resistance 1.3416 83.08 1.5910 0.9687
Pivot point* 1.3386 82.78 1.5855 0.9642
1st support 1.3314 82.79 1.5775 0.9605
2nd support 1.3270 82.51 1.5720 0.9518
3rd support 1.3175 82.40 1.5665 0.9461

EUR/USD intraday: There is a corrective decline from Friday's high at 1.3458, which tests support at 1.3314. The pair could break 1.3314 and head towards the 1.3270 area, although a break below 1.3270 would risk a decline to a high of 1.3175. If 1.3270 holds firm, it will trigger a fresh attack on the 1.3416 intraday lower high and 1.3458 peak. Strong resistance is at 1.3510.

Intraday USD/JPY: Recovering from Friday's low at 82.40, the pair is set to test resistance at 83.08. The pair can make a confident breakout of 83.08, which will strengthen the neutralizing doji low reached on Friday and complete the 6-day bullish wedge consolidation pattern, which will provoke further strengthening towards 83.47 and 83.70. Failure to hold at 82.79 support would trigger a decline towards 82.51, but the 82.40 low appears to be safe on Monday.

USD/JPY on the weekly chart: Uptrend.

Intraday GBP/USD: The short-term uptrend continued strongly, bringing the pair's December 14 lower high at 1.5910 within range. At 1.5928 there is a target Fibonacci extension level of 1.618, which will protect the 1.6000 level. However, the current upside wave from the Dec 28 reaction low at 1.5347 will be considered part of a larger 5-month head and shoulders reversal pattern while the 1.6000 level caps the pair's gains. Good support lies at 1.5665, protected by 1.5775.

GBP/USD on the weekly chart: Uptrend.

Intraday USD/CHF: A head and shoulders pattern is emerging on the daily chart, suggesting upside potential will likely be limited to the 0.9708 area. A break below the 0.9605 neck would complete this trend reversal pattern, leaving 0.9518 vulnerable and creating a target near 0.9425. Only a break above 0.9764 will refute this bearish scenario, opening the way to the 0.9784 peak.

Spot quotes: EUR/GBP EUR/JPY EUR/CHF AUD/USD
Spot at 06.42 GMT 0.8399 110.37 1.2852 0.9888
Three-day trend Up Up Up Down
Weekly trend Down Up Up Down
200 days chipped Wed 0.8534 113.92 1.3457 0.9457
3rd resistance 0.8498 111.94 1.2953 1.0021
2nd resistance 0.8470 110.99 1.2922 0.9955
1st resistance 0.8436 110.86 1.2870 0.9920
Pivot point* 0.8440 110.67 1.2899 0.9913
1st support 0.8391 110.00 1.2770 0.9856
2nd support 0.8340 109.10 1.2725 0.9804
3rd support 0.8285 108.91 1.2685 0.9752

Intraday EUR/GBP: Friday's decline from 0.8498 should test Friday's low at 0.8391. As part of the weakening, the pair could decline to the 0.8340 area before demonstrating a strong recovery. A rise to 0.8436 will raise the tone, triggering a return to 0.8470 and threatening a retest of the 0.8498 peak.

EUR/GBP on the weekly chart: Downward trend.

Intraday EUR/JPY: The pair consolidated from Friday's high at 110.99 to test the 110.00 level. However, there is a risk of a decline to the support area of ​​108.91-109.10, consisting of the Fibonacci retracement level of the 50% recovery wave from 106.83 to 110.99. A break above 110.86 would again target the 110.99 peak, which defends 111.94 and the December 14 high at 112.20.

EUR/JPY on the weekly chart: Uptrend.

Intraday EUR/CHF: The resistance cluster protecting the 1.3000 level has triggered a downward consolidation that is targeting strong support at 1.2725. The 1.2725 area includes the 38.2% Fibonacci retracement level of the 1.2398 to 1.2953 rally and is likely to limit downside risk for Monday's session. A break above 1.2870 will lift the pair's tone, reopening it towards 1.2922 and Friday's high at 1.2953.

EUR/CHF on the weekly chart: Uptrend.

Intraday AUD/USD: The decline from 1.0021 should extend below support at 0.9856 and bring last week's low at 0.9804 back into view. If the 0.9804 low is broken, bearish market participants will again control the situation in the short term, leaving 0.9752 vulnerable, but at the same time creating the potential for a decline to the 0.9600 area. A break above 0.9920 would give the pair some breathing space, but only a rise above 0.9955 would reopen last week's high at 1.0021.

AUD/USD on the weekly chart: Downward trend.

*The pivot point is calculated as the sum of the high, low and closing level divided by three.

Tuesday, 01/18/2011.
TECHNALYSIS OF EUROPEAN CURRENCY MARKETS:
The dollar/franc pair is ready to fall to 0.9425

Spot quotes: EUR/USD USD/JPY GBP/USD USD/CHF
Spot at 05.54 GMT 1.3316 82.53 1.5941 0.9615
Three-day trend Sideways trend Down Up Down
Weekly trend Up Up Up Down
200 days skol.av 1.3327 85.47 1.5619 1.0102
3rd resistance 1.3458 83.50 1.6095 0.9764
2nd resistance 1.3416 83.08 1.6000 0.9708
1st resistance 1.3355 82.85 1.5953 0.9687
Pivot point* 1.3317 82.68 1.5891 0.9648
1st support 1.3243 82.35 1.5870 0.9605
2nd support 1.3190 82.00 1.5838 0.9518
3rd support 1.3175 81.80 1.5817 0.9461

Intraday EUR/USD: The pair's recovery from Monday's low at 1.3243 has been sluggish, with gains likely to be capped below last Friday's one-month high at 1.3458. Lower intraday high at 1.3416 protects peak at 1.3458, but as long as there is bear flag resistance at 1.3355, a return to 1.3243 and below could be expected. Support below 1.3243 is located at 1.3190 and 1.3175.

EUR/USD on the weekly chart: Uptrend.

Intraday USD/JPY: A sustained downtrend is likely to retest Monday's 82.35 low. There is risk of further declines towards 82.00, but downside potential threatens to increase, indicating room for declines towards the 1.618 Fibonacci extension target at 81.80. Only a clear break above the resistance cluster at 82.85 will lift the pair's tone, paving the way for gains towards 83.08.

USD/JPY on the weekly chart: Uptrend.

Intraday GBP/USD: Monday's four-week high 1.5953 is back under pressure, with 1.6000 within reach. However, the pair reached the 1.618 Fibonacci extension target at 1.5928 and the near-term uptrend encountered significant resistance levels. If this three-month advance forms the right shoulder of the five-month head-and-shoulders pattern, the pair will peak around 1.6000. A clear break of 1.6000 will create the potential for highs of 1.6095-1.6104. strong support lies at 1.5665, which is protected by 1.5817.

GBP/USD on the weekly chart: Uptrend.

Intraday USD/CHF: A head and shoulders formation is completing on the daily chart and the neck support at 0.9605 is under threat. A break lower at 0.9605 would highlight the formation of the 0.9784 reaction high reached on January 11 and trigger a decline towards the estimated target of 0.9425. Only a rise above 0.9676 would refute this bearish scenario, triggering a recovery towards the 0.9764 lower high.

USD/CHF on the weekly chart: Downward trend.

Spot quotes: EUR/GBP EUR/JPY EUR/CHF AUD/USD
Spot at 06.22 GMT 0.8353 109.90 1.2802 0.9937
Three-day trend Down Down Down Up
Weekly trend Down Up Up Down
200 days chipped Wed 0.8534 113.88 1.3457 0.9457
3rd resistance 0.8498 110.99 1.2953 1.0150
2nd resistance 0.8470 110.50 1.2874 1.0085
1st resistance 0.8431 110.25 1.2842 1.0021
Pivot point* 0.8381 110.17 1.2850 0.9924
1st support 0.8328 109.57 1.2770 0.9897
2nd support 0.8285 108.90 1.2725 0.9856
3rd support 0.8222 108.30 1.2670 0.9804

Intraday EUR/GBP: A break above 0.8340 suggests that the 0.8285 reaction low hit on January 10 is likely to be tested again this week. The sharp fall from the 0.8498 reaction high hit on Jan 14 threatens further declines below 0.8285 to new 4-month lows towards 0.8135, but there is potential for a decline to the 0.8040 area in the longer term. Only a recovery above 0.8431 will lift the tone of the pair, targeting 0.8498.

EUR/GBP on the weekly chart: Downward trend.

Intraday EUR/JPY: Sharp declines on Monday indicate a peak at 110.99 is forming, and a fresh wave of downside pressure is expected to trigger a break below 109.57. With corrective gains limited to the 110.25 area, the main threat is a decline towards 108.90 and the 108.30 area. To improve the pair's tone, a break of 110.50 is needed, which would target the 110.99 high.

EUR/JPY on the weekly chart: Uptrend.

Intraday EUR/CHF: The pair continues to decline from last Friday's high of 1.2953 towards support at 1.2770. There is downside potential towards the 1.2725 support area, which is a good defense of the 1.2670 support, near the 50% Fibonacci retracement of the 1.2398-1.2953 upside wave. The pair needs to break lower high at 1.2874 to raise tone, threatening 1.2953.

EUR/CHF on the weekly chart: Uptrend.

Intraday AUD/USD: The pair is recovering again and there is a risk of a return to the 1.0021 high reached on January 13th. The rise from the 0.9856 low hit on January 14 is likely to confirm a higher low, extending the wave of bullish pressure from 0.9804 towards the 1.0085 area. Only a reversal below 0.9897 would challenge the positive outlook, targeting the pair at 0.9856 and 0.9804.

AUD/USD on the weekly chart: Downward trend.

*The pivot point is calculated as the sum of the high, low and closing level divided by three.

Wednesday, January 19, 2011
TECHNALYSIS OF EUROPEAN CURRENCY MARKETS:
The euro/dollar pair will test the strength of the key high of 1.3500

Spot quotes: EUR/USD USD/JPY GBP/USD USD/CHF
Spot at 06.02 GMT 1.3479 82.23 1.6024 0.9579
Three-day trend Up Down Up Down

200 days skol.av 1.3328 85.44 1.5622 1.0097
3rd resistance 1.3537 82.75 1.6105 0.9710
2nd resistance 1.3510 82.69 1.6075 0.9687
1st resistance 1.3500 82.40 1.6058 0.9656
Pivot point* 1.3370 82.57 1.5971 0.9614
1st support 1.3437 82.00 1.5957 0.9551
2nd support 1.3395 81.80 1.5934 0.9470
3rd support 1.3345 81.60 1.5815 0.9425

Intraday EUR/USD: The pair's uptrend becomes inexorable as key resistance at 1.3500-10 is now within reach. The top of the weekly Ichimoku cloud is located at 1.3510. But given last week's upside reversal, there is room for stronger gains towards 1.3537 and 1.3575. At 1.3575 is the Fibonacci retracement level of the 50% wave of decline from 1.4283 to 1.2860. As long as the pair is trading above 1.3395, it will find support during a corrective decline. Only trading below 1.3345 will alarm the bulls.

EUR/USD on the weekly chart: Uptrend.

Intraday USD/JPY: Sustained downtrend moves towards new 2-week lows below 82.33, targeting support at 82.00. However, there is a risk of further declines towards the 1.618 Fibonacci extension target at 81.80 as downside potential threatens to increase. The risk of corrective growth is limited to the area of ​​82.69.

Intraday GBP/USD: A strong near-term uptrend will again put Tuesday's 8-week high at 1.6058 under pressure. A close at the end of the day above 1.6000 is needed to give the uptrend additional impetus. A break above 1.6058 will open the way for the pair to the resistance cluster area of ​​1.6075-1.6105. This area is the last line of defense ahead of the key November reaction high at 1.6298. If the pair fails to close above 1.6000 and breaks below 1.5934, it will challenge the strength of the uptrend and trigger a decline towards 1.5815 and strong support at 1.5665.

GBP/USD on the weekly chart: Uptrend.

Intraday USD/CHF: Tuesday's low at 0.9551 is again under threat as dollar bears look to confirm the completion of a head and shoulders formation on the daily chart. A break below 0.9551 would trigger further declines towards 0.9470 and a reversal pattern target on the decline around 0.9425. If the 0.9551 low is not broken and the pair makes a break above 0.9656, it will erase its bearish outlook and target 0.9687 and 0.9710.

USD/CHF on the weekly chart: Downward trend.

Spot quotes: EUR/GBP EUR/JPY EUR/CHF AUD/USD
Spot at 06.19 GMT 0.8407 110.84 1.2913 1.0045
Three-day trend Sideways trend Up Up Up
Weekly trend Down Up Up Down
200 days chipped Wed 0.8531 113.85 1.3445 0.9467
3rd resistance 0.8455 112.20 1.3115 1.0207
2nd resistance 0.8440 111.97 1.3000 1.0150
1st resistance 0.8431 111.17 1.2953 1.0073
Pivot point* 0.8374 110.44 1.2865 0.9967
1st support 0.8364 110.33 1.2880 1.0000
2nd support 0.8340 110.19 1.2810 0.9960
3rd support 0.8328 109.57 1.2773 0.9897

Intraday EUR/GBP: The pair's recovery from Tuesday's spike low at 0.8328 leaves support at 0.8340 intact as the pair looks to settle above 0.8400. The immediate target is the 0.8431-40 resistance area, but only a break above 0.8455 would re-open last week's reaction high at 0.8498. A break below 0.8364 is needed to cancel the bullish threat and open the door to the 0.8328-40 support area.

EUR/GBP on the weekly chart: Downward trend.

Intraday EUR/JPY: Tuesday's one-month high 111.17 will be tested again as bulls look to gain control of the near-term. Since the daily Ichimoku cloud base is near the 111.17 high, a breakout is also likely. This will trigger further gains towards 111.97 and a lower high at 112.20. Failure to break 111.17 will trigger sideways consolidation towards 110.33. However, only a trade below 110.19 will concern the bulls.

EUR/JPY on the weekly chart: Uptrend.

Intraday EUR/CHF: The pair's performance on Tuesday, which closed higher and the trading range fully included the previous trading day's range, brought last week's high at 1.2953 within reach again. The 38.2% Fibonacci retracement level of the dominant decline wave from 1.3835 to 1.2398 is also located at 1.2953, so a fresh wave of bullish pressure is needed to open the way to 1.3000 and 1.3115, the 50 retracement level %. Failure to break below 1.3000 would trigger consolidation down towards Tuesday's low at 1.2773.

EUR/CHF on the weekly chart: Uptrend.

Intraday AUD/USD: The pair is recovering again after breaking above 1.0021 towards the wave equality target at 1.0073. This level is located near the 61.8% Fibonacci retracement level of the decline wave from 1.0258 to 0.9804. But there is an opportunity for a breakout of 1.0073 towards 1.0150. The glut area between 0.9960 and 1.0000 will limit corrective easing.

AUD/USD on the weekly chart: Downward trend.

*The pivot point is calculated as the sum of the high, low and closing level divided by three.

Dow Jones Newswires, Francis Bray

Thursday, 01/20/2011
TECHNALYSIS OF EUROPEAN CURRENCY MARKETS:
The US dollar is trying to recover

Spot quotes: EUR/USD USD/JPY GBP/USD USD/CHF
Spot at 06.09 GMT 1.3469 82.11 1.5954 0.9558
Three-day trend Up Down Sideways trend Down
Weekly trend Up Side trend Up Down
200 days skol.av 1.3329 85.40 1.5626 1.0092
3rd resistance 1.3571 82.69 1.6105 0.9634
2nd resistance 1.3539 82.40 1.6058 0.9600
1st resistance 1.3509 82.30 1.6036 0.9579
Pivot point* 1.3460 82.19 1.5994 0.9573
1st support 1.3427 81.98 1.5912 0.9521
2nd support 1.3345 81.85 1.5835 0.9470
3rd support 1.3243 81.60 1.5815 0.9425

Intraday EUR/USD: The uptrend faces resistance as the pair approaches 1.3571, the 50% Fibonacci retracement level of the decline from 1.4283 to 1.2860. Longer-term moving average resistance on the daily chart capped the pair's gains at 1.3539, and a fall below 1.3427 would extend a retreat towards the 1.3345 area. However, only a fall below Monday's low of 1.3243 will alarm market participants betting on growth.

EUR/USD on the weekly chart: Uptrend.

Intraday USD/JPY: A sustained downtrend tests the key support area near 81.85, which must hold to protect the 12-week bearish pennant support line. The pair is trying to recover from 81.85, but a rise above 82.40 is needed to extend this low and create fresh upside pressure towards 82.69 and 82.83. A break of 81.98 would see the pair fall back to the 81.85 low.

USD/JPY on the weekly chart: Sideways trend.

Intraday GBP/USD: As part of an uptrend, the pair is struggling to secure a strong close above 1.6000, with downward pressure aimed at reaching the wave parity target within the decline at 1.5912. The decline from Tuesday's 8-week high at 1.6058 threatens to deepen consolidation towards the 1.5815 area, but downside risk appears limited. A rise above 1.6036 would re-open the pair towards the 1.6058 high, with 1.6105 the last line of defense for November's key reaction high at 1.6298.

GBP/USD on the weekly chart: Uptrend.

Intraday USD/CHF: The short-term downtrend is back in force and aims to test the 0.9521 low, adding weight to the completed head and shoulders pattern on the daily chart. A break of 0.9521 should result in further weakening towards 0.9470 and a calculated target for this reversal pattern at 0.9425. In a corrective rally, the pair will try to reach the 0.9600 level again, and only a break above 0.9634 will call into question the negative outlook.

USD/CHF on the weekly chart: Downward trend.

Spot quotes: EUR/GBP EUR/JPY EUR/CHF AUD/USD
Spot at 06.37 GMT 0.8450 110.67 1.2880 0.9957
Three-day trend Up Side trend Down Side trend
Weekly trend Down Up Up Down
200 days chipped Wed 0.8530 113.82 1.3439 0.9473
3rd resistance 0.8529 111.26 1.3000 1.0079
2nd resistance 0.8498 111.17 1.2930 1.0030
1st resistance 0.8452 111.00 1.2900 0.9983
Pivot point* 0.8419 110.63 1.2903 1.0016
1st support 0.8399 110.36 1.2845 0.9934
2nd support 0.8340 110.00 1.2733 0.9897
3rd support 0.8328 109.57 1.2700 0.9856

Intraday EUR/GBP: Thursday's high at 0.8452 should be broken as the pair's recovery looks to retest last week's high at 0.8498. The risk of a breakout of 0.8498 is increasing. With this development of events, the pair will have a path to the resistance layers located close to each other at 0.8530 and 0.8550. However, the overall trend remains downward, and a break below 0.8399 will bring the 0.8328/40 support area into full view.

EUR/GBP on the weekly chart: Downward trend.

Intraday EUR/JPY: The pair consolidated below Tuesday's one-month high of 111.17, but the 110.00 level appears strong enough to limit downside risk. While 110.00 remains stable, the main threat is the pair returning to the resistance area of ​​111.17/26, which is the Ichimoku cloud base on the daily chart. A fresh wave of upside pressure would see the pair break above 111.26, opening it up to 111.97 and a lower high at 112.20.

EUR/JPY on the weekly chart: Uptrend.

EUR/CHF intraday: On Thursday, significant resistance appeared at 1.3000, which threatens to reverse the short-term trend back to Tuesday's low at 1.2773. Safety support is located at 1.2700, which also includes the Fibonacci retracement level of the 50% retracement wave from 1.2398 to 1.3000, but only a break below 1.2700 would make the 1.3000 high out of reach. In a corrective rally, the pair will attempt to move above 1.2930, which will be necessary to re-open the road to the 1.3000 high.

EUR/CHF on the weekly chart: Uptrend.

Intraday AUD/USD: The pair extended its decline from Thursday's high at 1.0079 and threatens to test support at 0.9897. However, the momentum of this downward wave is weakening. This indicates that good support at 0.9897 could protect the January 12 reaction low at 0.9804. A rise above 0.9983 will lift the tone, opening the pair towards 1.0030 again.

AUD/USD on the weekly chart: Downward trend.

*The pivot point is calculated as the sum of the high, low and closing level divided by three.

01/21/2011 Axel Rudolph

Friday, January 21, 2011
TECHNALYSIS OF EUROPEAN CURRENCY MARKETS:
The yen will continue to weaken

Spot quotes: EUR/USD USD/JPY GBP/USD USD/CHF
Spot at 05.57 GMT 1.3473 82.95 1.5899 0.9681
Three-day trend Sideways trend Up Sideways trend Up
Weekly trend Up Side trend Up Down
200 days skol.av 1.3331 85.38 1.5629 1.0088
3rd resistance 1.3626 83.70 1.6058 0.9784
2nd resistance 1.3571 83.50 1.6036 0.9764
1st resistance 1.3539 83.13 1.6000 0.9687
Pivot point* 1.3465 82.70 1.5918 0.9629
1st support 1.3449 82.86 1.5835 0.9648
2nd support 1.3396 82.60 1.5815 0.9600
3rd support 1.3305 82.40 1.5720 0.9579

Intraday EUR/USD: The uptrend faces resistance as the pair approaches 1.3571, the 50% Fibonacci retracement level of the decline from 1.4283 to 1.2860. Consolidating on Thursday, the pair again failed to close above 1.3500 and the 200-week moving average continues to cap the pair's gains at 1.3539. Failure to break below 1.3539 would result in a decline to Thursday's low at 1.3396. However, only if it falls below 1.3396, the situation will again be controlled by market participants betting on the decline, and the level of 1.3305 will become vulnerable.

EUR/USD on the weekly chart: Uptrend.

Intraday USD/JPY: Thursday's strength puts this week's low at 81.85 out of reach and could see further gains beyond 83.13. The main target is the Jan. 7 reaction high at 83.70, but will be protected by the lower high at 83.50. The bearish pennant resistance line for Friday's current session is at 84.04. Corrective decline is likely to be limited to the 82.60 area.

USD/JPY on the weekly chart: Sideways trend.

GBP/USD intraday: The pair showed a recovery from 1.5835. Market participants betting on growth are looking for opportunities to retest the strength of the 1.6000 level. The pair will need to break lower high at 1.6036 on its way to Tuesday's 8-week high at 1.6058. Only a fall below 1.5835 would give control of the situation to bearers, deepening the decline and creating room for weakening to 1.5665.

GBP/USD on the weekly chart: Uptrend.

Intraday USD/CHF: Thursday's strength has made Wednesday's low at 0.9521 difficult to reach and is testing the 0.9687 resistance. A breakout of 0.9687 seems likely. In this case, the pair will have room to rise to 0.9764 and the January 11 reaction high of 0.9784. The 0.9600 area protected by 0.9648 should limit room for corrective easing.

USD/CHF on the weekly chart: Downward trend.

Spot quotes: EUR/GBP EUR/JPY EUR/CHF AUD/USD
Spot at 06.30 GMT 0.8472 111.87 1.3043 0.9863
Three-day trend Up Up Up Down
Weekly trend Down Up Up Down
200 days chipped Wed 0.8529 113.80 1.3435 0.9477
3rd resistance 0.8550 113.73 1.3207 0.9973
2nd resistance 0.8530 112.90 1.3115 0.9950
1st resistance 0.8498 112.20 1.3102 0.9899
Pivot point* 0.8456 111.35 1.2961 0.9905
1st support 0.8451 111.65 1.2953 0.9832
2nd support 0.8417 111.00 1.2900 0.9804
3rd support 0.8340 110.32 1.2867 0.9752

Intraday EUR/GBP: The pair is poised to retest last week's high at 0.8498 after strengthening on Thursday. However, with key resistance at 0.8550, upside appears limited at this stage and only a clear break of 0.8550 will put the bull market in control. If the pair fails to hold at the 0.8417 support, it will face further weakness towards the 0.8328/40 support area and hopes of a test of strength at 0.8550 will be dashed.

EUR/GBP on the weekly chart: Downward trend.

Intraday EUR/JPY: The pair continued its short-term uptrend after breaking above 111.17 on Thursday, bringing the December 14 lower high at 112.20 within reach. The 112.20 area has very significant reversal potential, so there is a risk of a downward correction towards 111.00 before the pair prepares for a new attack at 112.20. The main target of this growth is the wave equality target level at 113.73, which can be achieved with a confident break above 112.20.

EUR/JPY on the weekly chart: Uptrend.

Intraday EUR/CHF: Thursday's range completely encapsulated the previous day's range, with the pair breaking above 1.3000 and closing above that level, higher than the previous close. As a result, new 6-week highs were reached and the road to 1.3115 was opened. Wednesday's bearish hammer was not confirmed, with 1.3115 representing the 50% Fibonacci retracement level of the dominant decline wave from 1.3835 to 1.2398. The potential for a corrective decline is limited, and only a fall below 1.2900 would challenge the near-term uptrend.

EUR/CHF on the weekly chart: Uptrend.

Intraday AUD/USD: Downside pressure should extend below 0.9832 and test the Jan 12 reaction low at 0.9804. Wednesday's high at 1.0079 should turn into a lower high and a fresh wave of weakness below 0.9804 will create room for a decline to 0.9625 next week. Corrective strengthening will be limited to the 0.9950 area, protected by 0.9899.

AUD/USD on the weekly chart: Downward trend.

*The pivot point is calculated as the sum of the high, low and closing level divided by three.

- Dow Jones Newswires; +44 0 207 842 9249;
- Posted by Francis Bray; [email protected];
- Translation of PRIME-TASS; +7 495 974 7664; dowjonesteam @ prime-tass.com.

Dow Jones Newswires column

Monday, 01/24/2011
TECHNALYSIS OF EUROPEAN CURRENCY MARKETS:
The upward trend of the euro/dollar pair continues

Spot quotes: EUR/USD USD/JPY GBP/USD USD/CHF
Spot at 05.52 GMT 1.3597 82.77 1.5967 0.9590
Three-day trend Up Up Sideways trend Sideways trend
Weekly trend Up Side trend Up Down
200 days skol.av 1.3333 85.35 1.5633 1.0083
3rd resistance 1.3739 83.50 1.6073 0.9686
2nd resistance 1.3692 83.13 1.6058 0.9650
1st resistance 1.3648 82.87 1.6014 0.9600
Pivot point* 1.3565 82.73 1.5962 0.9615
1st support 1.3500 82.53 1.5868 0.9560
2nd support 1.3449 82.15 1.5837 0.9521
3rd support 1.3396 81.85 1.5720 0.9446

Intraday EUR/USD: There are no signs that the strong uptrend is abating, but there is potential for further gains above the current session high at 1.3648. While the corrective decline is limited by the projected 1.3500 support area, a break above 1.3648 would see the pair reach the wave equality target at 1.3692. Only a break below 1.3500 would raise concerns and lead to further declines towards 1.3396.

EUR/USD on the weekly chart: Uptrend.

Intraday USD/JPY: As support at 82.53 holds, it is supporting the recovery of the pair, which is targeting a return to last week's high at 83.13. The 50% Fibonacci retracement level of the 81.85-83.13 advance wave at 82.49 remains intact, indicating the possibility of 83.50 and the Jan. 7 reaction high at 83.70 this week. Only a reversal below 82.53 would challenge the positive outlook and target the pair at 82.15.

USD/JPY on the weekly chart: Sideways trend.

Intraday GBP/USD: The recovery from 1.5837 is likely to extend above Friday's high at 1.6014 and put pressure on last week's reaction high at 1.6058. Significant resistance lies in the 1.6073-1.6105 range, suggesting upside potential is limited and only a break above 1.6105 would again target the 1.6298 reaction high hit on November 4. Failure to hold the 1.5837 low, which is protected by the 1.5868 level, would put the pair firmly under the control of bears.

GBP/USD on the weekly chart: Uptrend.

Intraday USD/CHF: The pair started trading in the 0.9521-0.9686 range and is likely to remain sideways throughout Monday. A recovery from the current session low at 0.9560 should provide a break above 0.9600 to target 0.9650 before the 0.9686 high reappears on the horizon. A fall below 0.9560 would trigger a return to the 0.9521 range bottom, while a break below there would put the pair under the control of short-term bears, threatening a longer-term return to the record low of 0.9301 hit in December.

USD/CHF on the weekly chart: Downward trend.

Spot quotes: EUR/GBP EUR/JPY EUR/CHF AUD/USD
Spot at 06.28 GMT 0.8519 112.61 1.3048 0.9889
Three-day trend Up Up Up Down
Weekly trend Sideways trend Up Up Down
200 days chipped Wed 0.8529 113.78 1.3432 0.9481
3rd resistance 0.8595 113.75 1.3207 0.9973
2nd resistance 0.8550 113.00 1.3115 0.9950
1st resistance 0.8530 112.75 1.3068 0.9920
Pivot point* 0.8499 112.21 1.3033 0.9886
1st support 0.8468 112.25 1.2977 0.9864
2nd support 0.8450 111.65 1.2950 0.9832
3rd support 0.8414 110.00 1.2815 0.9804

Intraday EUR/GBP: The short-term uptrend is poised to extend above 0.8530 and test the 0.8536-0.8550 resistance cluster. Between the 38.2% Fibonacci retracement level of the 0.8941-0.8285 decline wave and the long-term moving average on the daily chart is the 0.8541 wave equality target, and this range is likely to limit upside. Only a reversal below 0.8468 and 0.8450 will create room for deeper declines.

EUR/GBP on the weekly chart: Sideways trend.

Intraday EUR/JPY: Further gains are expected towards 113.00 and the key 113.75 area as the strong uptrend continues. The wave equality target is located at 113.75, as well as the falling 200-day moving average, which protects more significant resistance around 114.30. Failure to hold support at 112.25 will trigger a corrective decline towards 111.65, but downside risk is limited.

EUR/JPY on the weekly chart: Uptrend.

Intraday EUR/CHF: Growth investors are poised for six-week highs on a break above 1.3068 as Friday's close above 1.3000 supports a significant near-term uptrend. The 50% Fibonacci retracement level of the dominant 1.3835-1.2398 decline wave is located at 1.3115 and will be the main target on a break above 1.3068. The potential for a corrective decline is limited to the area of ​​1.2950.

EUR/CHF on the weekly chart: Uptrend.

Intraday AUD/USD: Downside pressure should extend below 0.9832 and test the Jan 12 reaction low at 0.9804. Last week's completion of the bull flag pattern creates space for a break below 0.9804, initially to 0.9732, but the wave equality target is at 0.9625. A break above 0.9920 will give the pair some breathing space, but only a rise above 0.9950 will change the pair's tone to the upside.

AUD/USD on the weekly chart: Downward trend.

*The pivot point is calculated as the sum of the high, low and closing level divided by three.

Dow Jones Newswires column

Tuesday, 01/25/2011
TECHNALYSIS OF EUROPEAN CURRENCY MARKETS:
The move away from the US dollar continues

Spot quotes: EUR/USD USD/JPY GBP/USD USD/CHF
Spot at 05.38 GMT 1.3662 82.41 1.6001 0.9476
Three-day trend Up Side trend Side trend Down
Weekly trend Up Side trend Up Down
200 days skol.av 1.3337 85.32 1.5636 1.0077
3rd resistance 1.3739 83.13 1.6073 0.9625
2nd resistance 1.3700 82.92 1.6058 0.9575
1st resistance 1.3686 82.65 1.6015 0.9543
Pivot point* 1.3621 82.58 1.5975 0.9529
1st support 1.3627 82.30 1.5922 0.9470
2nd support 1.3540 82.05 1.5837 0.9423
3rd support 1.3396 81.85 1.5720 0.9350​

• Intraday USD/JPY: Monday's 82.53 break extends its decline from 83.13 to pressure key support at 82.30. The level of 82.65 limits the growth of the pair. As such, the pair is likely to remain rangebound within a bearish pennant, indicating a move below 82.30 should be expected later this week. This fall will open the way to the January 19 reaction low at 81.85. Only a strong break above 82.65 will lift the pair's tone and open the door to the 82.92 lower high again.
  USD/JPY on the weekly chart: Sideways trend.
• Intraday GBP/USD: Upside pressure is building at 1.6015, keeping the January 18 reaction high at 1.6058 in tension. However, there is significant resistance accumulated between 1.6073 and 1.6105. It is the last line of defense for the November 4 reaction high at 1.6298. If the pair falls below 1.5922, it will continue to trade within a range within a bullish pennant or flag in the near term, with the January 20 reaction low at 1.5837 important.
  GBP/USD on the weekly chart: Uptrend.
• Intraday USD/CHF: Bearish investors extended their short-term declines after breaking below 0.9521 on Monday. The nearest target level for the pair is the wave equality target level of 0.9423. However, with the bearish momentum strengthening, the main threat is a further decline in the pair, which would again target the record low of 0.9301 reached in December. Corrective growth will be difficult above 0.9575. Only a break above 0.9625 will improve the tone of the pair.
  USD/CHF on the weekly chart: Downward trend.

Spot quotes: EUR/GBP EUR/JPY EUR/CHF AUD/USD
Spot at 06.04 GMT 0.8534 112.48 1.2946 0.9960
Three-day trend Up Sideways trend Up Up
Weekly trend Sideways trend Up Up Sideways trend
200 days chipped Wed 0.8529 113.77 1.3427 0.9486
3rd resistance 0.8646 113.75 1.3115 1.0079
2nd resistance 0.8600 112.91 1.3068 1.0051
1st resistance 0.8551 112.75 1.3014 1.0023
Pivot point* 0.8523 112.56 1.2980 0.9953
1st support 0.8500 112.22 1.2930 0.9927
2nd support 0.8480 111.65 1.2886 0.9864
3rd support 0.8450 111.50 1.2865 0.9832
​

• Intraday EUR/GBP: Short-term uptrend looks to put pressure on Monday's high at 0.8551. The wave parity target and long-term daily moving average are located around 0.8551. Therefore, only a new wave of upward pressure will be able to break upward to 0.8600. Downward consolidation is limited to the 0.8450 area, which is protected by the 0.8480 level.
  EUR/GBP on the weekly chart: Sideways trend.
• Intraday EUR/JPY: The pair is consolidating from Monday's 2-month high of 112.91. However, corrective decline is limited to the 111.50 area while the strong near-term uptrend takes a breather. Once a base above 111.50 is formed, the 112.91 high is likely to come under pressure again. The 113.75 level is the first target level for market-dominant investors betting on the pair's growth. The next level will be 114.30, where the base of the weekly Ichimoku cloud is located.
  EUR/JPY on the weekly chart: Uptrend.
• Intraday EUR/CHF: Monday's decline leaves the near-term double top at 1.3068 after breaking below 1.2977. Investors betting on the pair's decline have the responsibility to reach the target level of 1.2886. Reserve support is located in the area of ​​1.2865. It is expected to limit the space for this downward wave. If the pair misses 1.2886 and breaks above 1.3014, it will cast doubt on the negative outlook for the pair, opening the way to 1.3068 again.
  EUR/CHF pair on the weekly chart: Uptrend.
• AUD/USD intraday: The pair's strengthening on Monday calls into question the completion of the bearish flag and attempts to restore positions above 1.0000. A break of 1.0023 is needed to reopen the January 19 reaction high at 1.0079. If the pair trades above this level, it will return investors betting on the pair's growth control over its dynamics. If the pair breaks 0.9927, it will trigger a decline towards the 0.9864 level, which protects the 0.9832 low.
  AUD/USD on the weekly chart: Sideways trend.

*The pivot point is calculated as the sum of the high, low and closing level divided by three.

1st resistance 1.3705 82.16 1.5857 0.9470
Pivot point* 1.3653 82.30 1.5865 0.9449
1st support 1.3625 81.97 1.5779 0.9405
2nd support 1.3573 81.85 1.5752 0.9350
3rd support 1.3540 81.20 1.5665 0.9301

Intraday EUR/USD: Refuting the neutral doji candle formed on Monday, the strong uptrend is poised to extend to new two-month highs above 1.3705. The 61.8% Fibonacci retracement of the 1.4283-1.2860 decline wave at 1.3739 and the Nov. 22 high at 1.3786 are immediate targets, with the potential to reach the 1.3841 wave equality target in the coming sessions. Support lies at 1.3625 and protects Tuesday's low at 1.3573.

EUR/USD on the weekly chart: Uptrend.

Intraday USD/JPY: Tuesday's low at 81.97 is again under pressure as the decline from the January 20 high at 83.13 looks set to continue. Bears are targeting the important January 19 reaction low at 81.85, but only a fresh wave of bearish pressure will break 81.85 and target the pair at nearly three-month bullish support at 81.20. The 82.30 level has become significant for the short term and a break above this level is needed to change the pair's tone to upside and target 82.67.

USD/JPY on the weekly chart: Sideways trend.

Intraday GBP/USD: The pair is making a corrective recovery from Tuesday's low at 1.5752, but gains will be challenging once the 1.5857 target is reached. The 1.5905 area limits the potential for corrective growth, and the pair's dynamics are developing within the bearish flag pattern. A fall below 1.5779 would re-target 1.5752, threatening further declines towards important support at 1.5665.

GBP/USD on the weekly chart: Uptrend.

Intraday USD/CHF: The target level of 0.9425 was reached on Tuesday, but the downtrend is expected to continue below 0.9405. Downside potential is building and the record low of 0.9301 hit in December is likely to be tested in the coming sessions. The 1.618 Fibonacci extension target projected from the January 20 high indicates the 0.9260 level is within reach. To change the tone of the pair to upward, a breakout of the important short-term resistance at 0.9525 is necessary.

continued 01/26/2011

Intraday EUR/GBP: The 1.618 Fibonacci extension target at 0.8673 has actually been reached and the strong uptrend is meeting resistance levels all the way to 0.8700. The risk of downward consolidation towards the 0.8530 area has increased as the pace of gains achieved on Tuesday will be difficult to maintain. Support is located at 0.8595, which protects 0.8530.

Intraday EUR/JPY: The pair continues to consolidate from Monday's 2-month high of 112.91, but corrective declines are capped around the 111.50 area as the strong near-term uptrend takes a breather. Once a base above 111.50 is formed, the 112.91 high is likely to come under pressure again. The 113.75 area is the first target level for market-dominant investors betting on the pair's growth. The next level will be 114.30, where the base of the weekly Ichimoku cloud is located.

EUR/JPY on the weekly chart: Uptrend.

Intraday EUR/CHF: The pair is recovering from Tuesday's low at 1.2827, although gains will be challenging if resistance between 1.2955 and 1.2985 is broken. If Tuesday's high at 1.2985 holds, bears would retain control of the pair, while a break below 1.2872 would re-target the 1.2827 low, threatening an extension of the near-term downtrend towards the Jan 20 low at 1.2773 . Only a rise above 1.3015 would again target the pair at the 1.3068 high.

Euro/Swiss pair on the weekly chart: Uptrend.

Intraday AUD/USD: Strengthening this week is transforming the bear flag pattern into a bear pennant continuation pattern, threatening Monday's high at 1.0023. A break above 1.0023 would open up the projected target at 1.0051 and take the pair towards the January 19 high at 1.0079. Failure to clear 1.0023 would trigger a decline towards Tuesday's low at 0.9890, but only a fall below that would target the January 20 low at 0.9832.

Spot quotes: EUR/USD USD/JPY GBP/USD USD/CHF
Spot at 05.28 GMT 1.3704 82.16 1.5907 0.9436
Three-day trend Up Down Down Down
Weekly trend Up Side trend Up Down
200 days skol.av 1.3344 85.26 1.5641 1.0064
3rd resistance 1.3786 82.92 1.6015 0.9570
2nd resistance 1.3739 82.62 1.6000 0.9525
1st resistance 1.3723 82.28 1.5935 0.9464
Pivot point* 1.3692 82.26 1.5878 0.9428
1st support 1.3625 81.97 1.5892 0.9400
2nd support 1.3573 81.85 1.5830 0.9350
3rd support 1.3540 81.45 1.5770 0.9301

Intraday EUR/USD: The pair continues to rise to new 2-month highs above 1.3705 to target 1.3739 and 1.3786 levels. The target level of 1.3739 represents the 61.8% Fibonacci retracement level of the decline wave from 1.4283 to 1.2860. The November 22 high of 1.3786 is the last line of defense protecting the wave equality target of 1.3841. However, upside momentum is showing signs of rejection on the 60-minute chart, indicating that a significant high is not too far away. A break below 1.3625 is needed to challenge the pair's near-term positive outlook, opening the door to 1.3540-73 lows.

EUR/USD on the weekly chart: Uptrend.

Intraday USD/JPY: Downward pressure is increasing at Tuesday's low at 81.97 as the decline from Jan 20 high at 83.13 is set to continue. Investors betting on the pair's decline are targeting the key reaction low of 81.85, reached on January 19. A break below this level would open the way to 81.45 and the three-month bullish support line at 81.22. Failure to break 81.97 would indicate the pair is contained within the 81.97-82.62 consolidation range.

USD/JPY on the weekly chart: Sideways trend.

GBP/USD intraday: The pair regained some of the ground it lost on Tuesday. Corrective recovery from 1.5752 is testing resistance at 1.5935. However, downside risk is back on the agenda as bearish investors will look to defend the 1.6000 level. Support is located at 1.5830. A strong break below this level would be required to re-target the pair at 1.5770 and the 1.5752 reaction low.

GBP/USD on the weekly chart: Uptrend.

Intraday USD/CHF: Wednesday's low at 0.9400 is expected to be tested again as the strong downtrend looks set to continue. The record low of 0.9301 reached in December is now within reach. The 1.618 Fibonacci extension target projected from the January 20 high indicates the 0.9260 level is within reach. A break above 0.9464 is needed to lift the pair's tone. However, short-term resistance at 0.9525, which is the pivot point, will tend to limit corrective gains.

USD/CHF on the weekly chart: Downward trend.

Spot quotes: EUR/GBP EUR/JPY EUR/CHF AUD/USD
Spot at 05.55 GMT 0.8619 112.66 1.2931 0.9948
Three-day trend Up Up Down Sideways trend
Weekly trend Up Up Up Sideways trend
200 days chipped Wed 0.8531 113.75 1.3416 0.9496
3rd resistance 0.8700 114.00 1.3068 1.0079
2nd resistance 0.8672 113.75 1.3014 1.0051
1st resistance 0.8650 112.92 1.2967 1.0023
Pivot point* 0.8626 112.61 1.2919 0.9974
1st support 0.8595 112.42 1.2881 0.9930
2nd support 0.8530 112.16 1.2827 0.9890
3rd support 0.8500 111.82 1.2773 0.9832

Intraday EUR/GBP: Support at 0.8595 is being tested following a corrective decline from Wednesday's 11-week high at 0.8672. There is room for consolidation risk down towards the 0.8530 area. However, a decline towards this level will likely attract good support. A rise above 0.8650 will again open the way to the 0.8672 high.

EUR/GBP on the weekly chart: Uptrend.

EUR/JPY intraday: Pressure on the 112.92 resistance area is increasing. A breakout of this level is expected during the session on Thursday. The key upper target at 113.75 is pending and there is room to rise towards the 114.30 area, where the base of the weekly Ichimoku cloud is located. If the support at 112.16 is broken, it will delay the positive outlook for the pair, opening the way to the range low at 111.82.

EUR/JPY on the weekly chart: Uptrend.

Intraday EUR/CHF: Resistance emerged at 1.2967 to cap recovery from 1.2827. The pair is expected to return to the higher low at 1.2881. A break above 1.2881 would strengthen Wednesday's high at 1.2967 and leave the 1.2827 low vulnerable. A break above 1.2967 is needed to continue the corrective recovery. This will open the way to a lower high at 1.3014 and threaten a return to the highs at 1.3068.

EUR/CHF on the weekly chart: Uptrend.

Intraday AUD/USD: The pair remains inside a bearish pennant continuation pattern, putting Monday's high at 1.0023 at risk. A break of 1.0023 would open the way to the measured target of 1.0051 and take the pair to the January 19 high of 1.0079. A break below 0.9930 would open the way to Tuesday's low at 0.9890, which protects the Jan. 20 low at 0.9832.

AUD/USD on the weekly chart: Sideways trend.

*The pivot point is calculated as the sum of the high, low and closing level divided by three.

For me personally, the most optimal technical levels are given by Axel Rudolph of Dow Jones Newswires.

Quote TECHNALYSIS OF EUROPEAN CURRENCY MARKETS: The dollar will decline Dow Jones Newswires column by Axel Rudolf LONDON, July 7. /Dow Jones/. Sliding charts for 24 hours.

Euro/Dollar Euro/British Pound Euro/Japanese Yen Euro/Swiss Franc 3rd resistance!1.2914 !0.6997 !148.12 !1.5766 !

2nd resistance.!1.2842 !0.6988 !147.80 !1.5742 !

1st resistance.!1.2789 !0.6968 !147.50 !1.5713 !

Pivot point* !1.2775 !0.6957 !147.15 !1.5699 !

1st support!1.2758 !0.6942 !146.96 !1.5689 !

2nd support!1.2730 !0.6920 !146.55 !1.5669 !

3rd support!1.2685 !0.6913 !146.20 !1.5650 !

Euro/dollar intraday: The pair is targeting secondary resistance at 1.2789 (Fibonacci retracement level of 61.8% of the June decline wave). If this level is broken, the pair will continue to rise towards 1.2842. The first support for the pair is located at 1.2758 (Sunday's low). If this level is broken, contrary to expectations, then the pair may test the minor support at 1.2730.

Euro/dollar on the weekly chart: Uptrend.

Intraday EUR/GBP: The pair is expected to reach minor resistance at 0.6968. If this level is broken, the pair will target resistance at 0.6988.

The first support is located at 0.6942. If the indicated support level fails, the pair will target the support at 0.6920.

Euro/pound on the weekly chart: Uptrend.

Intraday EUR/JPY: The pair is targeting minor resistance at 147.50 until first support at 146, Thursday's daily low, is broken. A rise above 147.50 would target minor resistance at 147.80. Below 146.96, support is located at 146.55 and 146.20.

Euro/yen on the weekly chart: Uptrend.

Intraday EUR/CHF: The pair will again test minor resistance at 1.5713 (Wednesday's high). If this level is broken, the pair will test the resistance at 1.5742. The first support is located at 1.5689, and the next at 1.5669 (Thursday morning low).

Euro/franc on the weekly chart: Uptrend.

Pound/US dollar US dollar/yen US dollar/Swiss franc Australian/ U.S. $ 3rd resistance.!1.8496 !116.67 !1.2446 !0.7510 !

2nd resistance.!1.8475 !116.01 !1.2396 !0.7503 !

1st resistance.!1.8415 !115.84 !1.2364 !0.7481 !

Pivot point!1.8370 !115.20 !1.2292 !0. 1st support!1.8320 !115.02 !1.2262 !0.7449 !

2nd support!1.8270 !114.34 !1.2197 !0.7439 !

3rd support!1.8200 !114.00 !1.2135 !0.7405 !

Intraday GBP/USD: The pair is targeting minor resistance at 1.8415. If this level is broken, the pair will target 1.8475. Minor support for the pair is located at 1.8320 (June 23 high) and next support is at 1.8270 (June 27 high).

Pound/dollar on the weekly chart: Rebound from support level?

Intraday USD/JPY: The pair is down again and is targeting minor support at 115.02. If this level is broken, the pair will target support at 114.34. The first resistance is located at 115.84 (Wednesday's high).

Dollar/yen on the weekly chart: Growth is limited by the resistance level.

Intraday USD/CHF: The pair is expected to move lower towards minor support at 1.2262 while gains are capped by resistance at 1.2364. If this resistance level is broken, the pair's growth on Friday will be limited by the secondary resistance at 1.2396. Below the level of 1.2262, support is located at 1, /Wednesday low/.

Dollar/franc on the weekly chart: Growth is limited by the resistance level.

Intraday AUD/USD: The pair is targeting minor resistance at 0.7481. If this level is broken, the pair will target 0.7503 and 0.7510, where the highs of June 9 and June 12 are located, respectively. The first minor support is at 0.7449 /Friday morning low/. This support level should hold if the pair tests it to the limit. If this level is broken, the pair's decline will be contained by the secondary support at 0.7339.

Australian/US dollar on the weekly chart: Rebounding from the support level.

*The pivot point is equal to the sum of the previous day's high, low and closing price divided by three.

/End/ Dow Jones Newswires, PRIME-TASS Students of the Masterforex-V Trading Academy have developed the Pivot_RS_session indicator to save time on daily plotting the pivot point (pivot) and 3 levels of resistance and support on the chart (See Akcel_RS - support and resistance levels http ://forum.masterforex-v.org/index.php?showforum=24) EURO pound CHIF AUSTRIA YEN Advantages of the analysis of forex markets by Adolf Axel 1. convenience and simplicity, when every day the trader sees the turning point (pivot) and 3 resistance levels and support for 8 major Forex currency pairs, which certainly saves time.

2. pay attention to the title of Axel’s analytical review and the subsequent movement of currencies on that day (Axel clearly suggested the vector of direction of movement of Forex currency pairs at the beginning of the trading day).

3. According to the figures on July 7, 2006, you can see how, positioned behind the pivot, the allied currencies broke through resistance (support) 1, 2, 3 as the US dollar fell.

4. the opportunity to make a profit on the Forex market. In the above examples you can see how a trader can profit from the movement of currency pairs from the 1st level of support (resistance) to its 3rd level. Note: look at the discussion between students of the Masterforex-V Trading Academy and one of the leaders of the Forex Club DC. This Dealing Center, publishing the Dow Jones Newswires daily, for some reason “forgot” to print for its traders an analytical review with Rudolf Axel levels, and only under pressure from students of the Masterforex-V Trading Academy, the largest Dealing Center in Russia Forex Club, included Rudolf Axel’s analytics in the news Dow Jones Newswires for its traders.

http://forum.masterforex-v.org/index.php?showtopic=387&st= http://forum.masterforex-v.org/index.php?showtopic=387&st= Disadvantages of Forex technical levels from the Dow Jones agency Jones).

1. A system can never be reliable if its mechanism is unclear. What if Axel's levels are not published tomorrow?

Will Axel make a mistake?

2. how to determine Rudolf Axel levels INDEPENDENTLY a few hours before they are published?

3. from what source can you get Rudolf Axel levels half an hour to an hour earlier (as students of the Masterforex-V Trading Academy receive it) than they appear in the Dow Jones Newswires news feed of leading Dealing Centers in Russia 4. calculate the pivot (turning point) of currency pairs by method “*The turning point is equal to the sum of the high, low and closing price of the previous day, divided by three.” This point will not coincide with the one that Rudolf Axel will give you the next morning. How to calculate a pivot so that it coincides?

5. How can you check Axel’s levels using a DIFFERENT method? For example, on July 7, 2006, BEFORE the news was released, the 4th resistance level for the euro and pound was calculated, which became the local peak of the American session, pound 1. euro 1. The second example, on July 10, 2006, Axel indicated the 3rd support level for the pound 1.8415, in while the majority of students of the Masterforex-V Trading Academy closed at 1.8365 – the local minimum on July 10, 2006. How can one determine, with an accuracy of 1 point, the local minimum of the trading day, during which the pound passed 160 points, at the beginning or middle of a sessional movement?

This is what students of the Masterforex-V Trading Academy are trained to do, as one of the tools for consistently making a profit. This element (defining a pivot and 3-4 resistance/support levels) is a necessary, but absolutely insufficient tool for obtaining stable profits in the Forex market.

For more information about the method of determining support and resistance levels by Rudolf Axel, see the chapter in the section World-famous traders and analysts of the world: Rudolf Axel / Axel Rudolph/ on the Academy forum http://forum.masterforexv.org/index.php?showtopic=7491&pid= 255032&st=0entry Pivot Point of currency pairs Pivot Points Pivot Point of currency pairs is one of the key points in Forex trading. Knowing only 3 elements: 1. power reserve (the difference between Low and High) for the trading session - the day of the currency pair (for example, GBPUSD more than 100 points per trading day) 2. the turning point of currencies during the trading session (day), it is easy to calculate the possibility of stable earnings for a trader in the forex market every day 3. if the trend is a friend and you need to work according to the trend, knowing the trend reversal point will help * protect you from losses from a trend change in the market * open a deal on a new trend at the beginning of the movement, and not in the middle, and especially not at the end of a new trend Brief conclusion: knowledge of the real trend reversal point is a necessary (although not sufficient) condition for stable profit making in the Forex market.

This scheme is the basis for the world-famous Pivot Points tactic (for more details, see the Financial Speculator magazine http://forum.masterforex-v.org/index.php?showtopic=7491&pid=255032&st=0entry The Pivot Point is calculated using the formula: Pivot=(High+Low+Close)/ High - yesterday's maximum;

Low - yesterday's minimum;

R1=2Pivot - Low S1=2Pivot - High R2=Pivot + (R1 - S1) S2=Pivot - (R1-S1) R3=High + 2*(Pivot - Low) S3=Low - 2*(High - Pivot) R1,R2,R3 - resistance levels;

S1, S2, S3 - support levels Thus, the Pivot Points tactic is inherently binary, i.e. the next move logically follows from the previous one and is its continuation, the key point of which is the turning point - the pivot. The trend continues, followed by the reversal point of this trend.

It is not without reason that these “simple calculations have been used by all major banking and stock institutions for more than fifty years.”

http://forum.fxclub.org/showthread.php?t= Brief conclusion: this classic Pivot Points tactic is known all over the world, but it has not changed the ratio of 1 to 20 successful and losing traders.

Let's try to understand the disadvantages of this method in order to reach the Pivot Points Masterforex-V method.

Disadvantages of the classic Pivot Points method 1. at what time to calculate the maximum, minimum and closing price of the day, if the bookmaker forex market operates around the clock and for Europeans it is one pivot, for Americans it is another, for Asian residents it is a third pivot for the SAME situation in the Forex market, because all 3 variables (High, Low, Close) are different in different parts of the world.

Pivot=(High+Low+Close)/ High - yesterday's maximum;

Low - yesterday's minimum;

Close - yesterday's closing price.

For example, USD/Yen rice for May 22-24, 2006 - it is clear that the pivot the next day will be completely different for residents of Tokyo, Moscow, London and New York, because on their calendar day, all 3 components of the classic Pivot Points = (High+Low+Close)/ 2. arithmetic calculation of the Pivot point will be different - it is more of an arithmetic mean value as a moving average, rather than a real point, having fixed itself BEHIND which, the currency makes a LEGAL leap in the opposite direction side For example, if the pivot is an arithmetic mean equal to 50% of the rollback, it is clear that it will not only not help, but will also harm in a flat, where the rollback can be 62% or 76% (the trader opens from a 50% rollback against the trend, and the currency is at A 62% rollback makes a reversal towards the continuation of the previous trend) For example, in Fig. H1 you can see how the euro/dollar on June 6, 2006 fell from a local maximum of 1.2981 to 1.2922, then rose up by 76% to 1.2962, after which it dropped along the intra-week trend to 1.2594, i.e. by approximately 400 points 3. a currency can cross the pivot in different directions several times a day based on the classic Pivot Points, therefore it cannot serve as a REAL point for opening transactions For example, June 14, 2006 euro/dollar m Pivot from the movement 06/13/2006 (1.2617 + 1.2529+ 1.2545)/3 = 1. 4. the pivot should be dynamic, having passed 70-100 points during the European trading session, the pivot of the currency pair should change its value to the American session as a real turning point (for example, the beginning of a correction or reversal of the previous value) , so that the trader has the opportunity to close his transactions BEFORE the start of this reversal or, conversely, keep a long transaction further along the trend if the price has not crossed the pivot in the opposite direction.

Figure pound/dollar and euro/dollar for June 29-30, 2006 Having broken through the pivot of the intraweek trend, currency pairs never crossed the pivot within the session trend in the opposite direction, having passed several hundred points in 1. day 5. the pivot on different timeframes should show different points , because a reversal of an intraday trend is one thing, an intraweek trend is completely different, a trend over several weeks is a third, etc.

According to the classic Pivot Points tactic, only one value is taken - the previous day. In this case, a natural question arises:

the reversal of WHAT trend is the pivot constructed by (High+Low+Close)/3 of the previous day.

6. The method of calculating the pivot by Rudolf Axel (Dow Jones), the levels of which do not correspond to Pivot=(High+Low+Close)/3 of the previous day, also indicates the imperfection of the method of classical determination of Pivot Points. Brief conclusions The above examples clearly show the fundamental differences * classic Pivot Points * Pivot Points Masterforex-V, as a real turning point for Forex currency pairs.

Pivot Points Masterforex-V in contrast to classical method Pivot Points 1. are calculated for each type of trend from intra-session (m15) to multi-week trend (D1), which allows you to clearly see the difference between correction and reversal on different timeframes. For example, a reversal within a session trend, the movement of which has NOT exceeded a pivot within a weekly trend, is equal to a CORRECTION within a weekly trend, and not its reversal); a reversal within a session trend, the movement of which has exceeded a pivot within a weekly trend is the first sign of a reversal within a weekly trend 2. This ratio is 2 types of trends among themselves allows a) to take a profit within a session trend b) to see a BINARY pattern about the continuation or cancellation of a direction within a session trend and larger types of trend among themselves 3. a 50% rollback does not characterize a trend reversal, but its QUALITATIVE measurement of the nature of the further course of the currency pairs or the transition of a given pair into a flat (when synthesizing this pattern with other dimensions of the Masterforex-V TS - time of movement, relationships with allied pairs, technical levels of various time frames, etc.) Task from the workshop of the Masterforex-V Trading Academy - according to the given figure chart of the euro/dollar for June 5-9, 2006, try to determine the turning points (pivot) of a) the intraday trend of each day b) the intraweek trend to understand * at what point the bearish intraweek trend began * at what point the bearish intraweek trend was finally confirmed * at which points there could be strong trend corrections (or its reversal) * conditions for a reversal and a change in trend and a change from a bearish trend to a bullish one (which did not happen) * the point of reversal cancellation, accordingly from what point of view of the pivot it was possible to hold a long trade Slanted channels as an analysis tool Forex market.

The purpose of the inclined channel is to determine the direction of the trend (let me remind you, the trend is your friend) and if you clearly know the direction of the trend, you work according to it.

For example, a drawing from the book Technical Analysis of Futures Markets: Theory and Practice by John J. Murphy. A drawing from the book Technical Analysis by Jack Schwager. Full course.

As can be seen in the figures, the downward sloping channel in both cases is a downward (bearish) trend, in which any trade opened on sell should lead the trader to profit.

The higher this transaction is opened, the greater the profit the trader will be able to earn on Forex.

Then why do at least 19 out of 20 traders lose?

To find the answer to this question, we will study in detail 1. the methods of constructing inclined channels in the works of the classics of Forex 2. the points of opening and closing transactions when working in inclined channels, known from the literature 3. we will find unresolved contradictions inherent in them by the “classics” technical analysis, leading to losses for traders when working using this method when opening and closing transactions 4. we will find a solution to these unresolved problems 5. we will synthesize the optimized version into the Masterforex-V trading system in which the intersection of signals from DIFFERENT instruments objectively gives the point of opening and closing transactions.

Note. In the Masterforex-V trading system, the opening and closing points of transactions are the intersection of signals of inclined channels with Fibonacci levels, moving averages, methods of working with allied pairs, zigzag-fractals of various timeframes, levels and sublevels of resistance and support, the nature of the movement (trend-flat-like) , Elliott waves and other working tools of the trader, each of which).

The following methods for constructing inclined channels can be roughly distinguished. using one inclined line (lower in an uptrend, upper in a downtrend) two lines (upper and lower, indicating resistance and support) Volume of the Charter optimized two lines of Barishpolz moving channels, the slope of which changes as soon as the currency breaks through one of the levels of this channel inclined channels by T. Demark using TD points and TD lines he discovered * inclined channels by Jack Schwager, based on determining trends using highs and lows.

The first technique for constructing inclined channels using a single inclined line was described by John J. Murphy.

This technique of using inclined channels is one of the elements of the basic course of all Forex textbooks for determining the trend. The upward inclined channel is drawn along the minimum points and is its support level, starting from which the bullish trend continues. The downward inclined channel is drawn along the maximum points and is its resistance level, starting from from which the bearish trend continues. As an example, you can bring the drawings of John J. Murphy from the book Technical Analysis of Futures Markets: Theory and Practice (see.

Library of the Masterforex-V Trading Academy http://dma.masterforex-v.org) John J. Murphy writes: Fig. 4. 6a Example of an ascending trend line. An ascending trend line is drawn under successively increasing decline points. In this case, a trial trend line can be drawn first through two points of decline, of which the second is higher (points and 3), but to confirm the truth of this line, a third point (point 5) is needed.

John J. Murphy writes: Fig. 4.66 A downward trend line is drawn above successively lower peaks. A trial trend line can be constructed using only two points (points 1 and 3), but it will only be considered true after there are three such points (point 5).

1A Refinements to the construction of inclined channels in the Nyman technique.

see Nayman E. -L. Small Encyclopedia of the Trader (see Library of the Masterforex-V Trading Academy http://dma.masterforex-v.org) Naiman writes:

"TO general features trend lines, figures and models include the following:

The signal appears only when crossing the resistance or support level; up to this point, the analysis comes down to determining the possible price behavior within the framework of the specified models;

- the strongest conclusions about the upcoming movement can be made in the direction of the current trend;

Trend patterns can be divided into trend confirming patterns, trend reversal warning patterns, and trend patterns that act in the general direction of the trend. In the latter case, the highest quality conclusions will be in the direction that continues the trend;

- for any, even the strongest signal, it is desirable to have additional confirming signals of any kind;

It is useless to look for trends over short periods of time (usually up to 5 minutes). The life of the trend in this case is too short and can give such a small profit that it is difficult to even approximately compare it with possible significant losses. In this case, you may encounter a contradiction between the direction of the short trend and the direction of the long trend. In this case, the longer trend is stronger;

Instead of straight lines, when building trend models, you can use any smoothly curved linear formations and even geometric shapes, such as circles and ovals."

The second method of inclined channels is described by T. Demark.

The difference from Murphy's inclined channels is in Demark's use of TD-points and TD-lines developed by him - local peaks of day candles T. Demark describes the disadvantages of Murphy's inclined channels in this way, based on which he derives his TD-points and TD-lines for constructing inclined channels Concept "trend line" is often interpreted ambiguously and inconsistently. However, it should be remembered that out of many possible trend lines, only one is true. I was able to develop an effective technique for selecting the two critical points necessary to construct a true trend line.

Rice. 1.1 Please note that the gradual decline in prices is reflected by the downward sloping “supply” line; price peaks and troughs also decrease consistently.

Rice. 1.2 The gradual increase in prices is reflected by the rising “demand” line; price peaks and troughs also rise sequentially.

Price movements are dictated by supply and demand. If demand exceeds supply, prices rise; and, conversely, if supply exceeds demand, then prices fall. All economists share these fundamental principles. Graphically, the two above-mentioned phenomena are depicted as shown in Fig. 1.1 and fig. 1.2: supply is a descending line, demand is an ascending line.

The difficulty lies in choosing the special points through which these straight lines pass (see Fig. 1.3). As a rule, the analyst brings a fair amount of subjectivity to the construction of trend lines. Thus, price movements in the market are usually considered in retrospect - from the past to the future, which is why the dates on the chart are listed from left to right. Accordingly, supply and demand lines are constructed and located on the chart from left to right. Intuition suggests that this is incorrect. Current price movements are much more important than past market movements. In other words, standard trend lines should be drawn from right to left so that the right side of the chart contains the most recent market data. This may seem unusual at first, but my own experience and extensive observations confirm the feasibility of this approach. You shouldn't sacrifice accuracy and logic for the sake of simplicity. The generally accepted procedure for constructing multiple trend lines, of which one is mercifully assumed to be correct Fig. 1.3. Obviously, the trend in price development can be graphically represented by various straight lines. The main point is to select two key points from a variety of points. It is through them that the true trend line passes.

“To illustrate and substantiate my theoretical positions, I will use daily charts and data on daily prices, although all the patterns discussed apply to any other period of time. The reasons why I chose daily charts boil down to the following:

1. Daily information is the most easily accessible; For decades, analysts have worked primarily with daily charts;

2. Using daily charts, the trader is freed from the need to constantly monitor intraday market behavior; he is less likely to get caught in the frequent price adjustments that plague intraday databases;

3. The probability of concluding a transaction at a price closest to that specified in the order increases if the trader uses market signals based on daily information.

Rice. 1.4 (a) Please note that the circles circle those price points above which prices did not rise in the day immediately adjacent to this one. The reference price supply points (TO supply points) are key because, thanks to increased supply, prices were unable to overcome the resistance level passing through these points.

At the very beginning of my research, I came to the conclusion that important supply price pivot points are determined when a price maximum is recorded, above which prices did not rise on the day immediately preceding the given one, as well as on the day following it ( see Fig. 1.4 a, b). To determine demand price pivot points, the reverse procedure was used; a point was considered a reference point if a price minimum was recorded, below which prices did not fall on the day immediately preceding this one, as well as on the day following it (see Fig. 1.5). This seemed quite logical to me: such points appeared on critical days, which were turning points in the development of the trend. Supply exceeded demand - and prices went down (as shown in Fig. 1.4 a and b); demand exceeded supply - and prices went up (as in Fig. 1.5). I called these key points TD points. Since I was the one who discovered them as a result of my own research, I assigned them my initials.

In Fig. 1.4 a and b show how two maximum, successively decreasing TD points™ were first identified, and then a supply line (hereinafter referred to as the TD supply line™) was drawn through them. In Fig. 1.5, two successively increasing price minimums were identified - TD points, and then a demand line was drawn through them (hereinafter referred to as the TD demand line™). And no difficulties. No excuses for choosing the “wrong” points. The point selection procedure has become strict and objective. Moreover, the true appeal of this method is that it takes into account real price movements. In other words, any imbalance between supply and demand is reflected on the graph by the appearance of more and more new TD points. And as they appear, TD lines are constantly adjusted (Fig. 1.6). Hence the importance of identifying the last two TD points and constructing the actual TD lines through them.

Rice. 1.4 (c) Reference price supply points (TD supply points) form a resistance level. They are characterized by the fact that price values ​​at these points were not exceeded during the two days immediately adjacent to them. These TD price points are highlighted on the chart.

Rice. 1.5 Demand reference price points are support level points. They are characterized by the following: a daily price minimum is recorded, below which prices do not fall for two days immediately adjacent to this one. Price TD points are highlighted in circles on the chart.

Rice. 1.6 The graph shows four potential TO-points of the proposal: A-B - the first line of the proposal. After the formation of a new TD-point of sentence C, a new line of sentence is drawn - B-C. Finally, with the formation of another new point D, the supply line is revised again - C-D. It is obvious that the relationship between supply and demand is constantly changing. The supply line, reflecting market dynamics, changes accordingly.”

The THIRD slanted channel technique is outlined by Jack Schwager. It is based on determining the trend using highs and lows.

Schwager Jack Technical analysis. Full course.

(see Library of the Masterforex-V Trading Academy http://dma.masterforex-v.org) a downward trend can be defined as a sequence of lower lows and lower highs (Fig. 3.3).

A downward trend can be considered unbroken until the previous relative maximum is broken.

DOWNTREND AS A SEQUENCE

LOWER HIGH AND LOWER MINIMUM: COFFEE, DECEMBER CONTRACT,

Note: RH - relative maximum; RL - relative minimum And construction of trend corridors Figure 3.10.

DOWN TREND CORRIDOR: COCOA, SEPTEMBER

The following rules generally apply to trend lines and corridors:

1. Price declines approaching an uptrend line and price increases approaching a downtrend line are often good opportunities to take positions in the direction of the underlying trend.

2. A breakout of the upward trend line (especially if it is confirmed by the closing price of the day) is a signal to sell;

a breakdown of a downward trend line is a buy signal. To confirm a breakdown, a minimum percentage of price change or a minimum number of daily closes behind the trend line is usually set.

The lower line of a downtrend corridor and the upper line of an uptrend corridor represent potential profit-taking zones for short-term traders."

The FOURTH method of constructing inclined channels is D. Schwager’s optimization of DeMark’s inclined channels using Schwager’s method of increasing and decreasing trends. Schwager writes: The definitions and terms presented differ from those used by DeMark himself, but the method they propose for determining trend lines exactly corresponds to his method. In my opinion, the approach used below is clearer and more concise than DeMark's own presentation of this concept of Relative Minimum. A daily minimum that is lower than the minimums for N previous and N subsequent days.

Downward trend line TD. The current downtrend line is defined as the line connecting the most recent relative high and the previous relative high, which must be higher than the most recent relative high. Last condition is important because it ensures that the trend line connecting the two relative highs is actually downward. In Fig. Figure 3.15 shows a downward trend line of TD, where the parameter value N = 3 was used to determine the relative maxima.

Upward trend line TD. The current uptrend line is defined as the line connecting the most recent relative low and the previous relative low, which must be below the most recent relative low. In Fig. Figure 3.16 shows an increasing TD trend line, where the parameter value N = 8 was used to determine the relative minima.

Figure 3.16.

UP TREND LINE TD (N = 8): SWISS FRANC, DECEMBER Figure 3.17.

SEQUENCE OF UPWARD TREND LINES TD (N t S): SUGAR, OCTOBER

Note: Lines 1-5 are sequential upward trend lines of the TD when using N = 10 to determine relative lows (RL). Defining trend lines based on the most recent relative highs and lows allows trend lines to be continually adjusted as new relative highs and relative lows appear. minimums. For example, fig. Figure 3.17 demonstrates the sequence of upward trend lines of TD, which were built following the appearance of new relative minimums (at N = 10) until a signal about a trend reversal was received. In this chart, a trend reversal signal is defined as three consecutive closes below the current uptrend line. In a similar way, Fig. Figure 3.18 illustrates a sequence of downward TD trend lines drawn from relative highs (at N = 8) until a trend reversal signal is received (also defined as three consecutive closes outside the trend line).

Figure 3.19.

SEQUENCE OF DOWN TREND LINES TD (N - 2): TREASURY BONDS, JUNE

Note: Lines 1-12 are sequential downward TD trend lines when using N = 2 to determine relative highs (RH).

Different values ​​of N result in very different trend lines. For example, in Fig. Figures 3.19-3.21 show various downward TD trend lines obtained on the same chart using three different values ​​of N. The lower the N value, the more often the downward trend line is corrected and the more sensitive it is to a breakdown. Compare, for example, the dozen trend lines obtained when N = 2 and only three lines when N = 10 was used.

FIFTH method of constructing inclined channels - Volume of the Charter Analysis of channels (see Library of the Masterforex-V Trading Academy http://dma.masterforex-v.org) Trend channels.

There are 4 types of trend channels, two for markets with an uptrend and two for markets with a downtrend. Trend channels connect the extreme highest and lowest closing prices.

Figure 1: Channel with an upward trend, resistance. Identify the two minimum closing prices and draw line 1. Use the extreme maximum closing price between the two minimum closing prices to draw a second line parallel to the first.

Figure 1 shows the first channel with the price trending upward. Draw a trend line through the two lowest closing prices and then draw a parallel line through the highest closing price between the two lowest closing prices above. This channel will give the level of a possible price increase, and you can estimate the profit during the action of the “tide” according to the trend. When the market moves to a new high price, draw a trend line through the two highest closing prices and a parallel line through the lowest closing price. This will provide a possible point of support when the tide goes against the trend.

Figure 2: Channel up, support. Identify the two high closing prices and draw line 1. Use the extreme low closing price between the two high closing prices to draw a second line parallel to it.

Figure 3: Channel down, support. Identify the two high closing prices and draw line 1. Use the extreme low closing price between the two high closing prices to draw a second line parallel to it.

Figure 3 shows the steps to construct a channel with a downward trend. Mark the 2 highest closing prices for the resistance line.

Draw a parallel down from the lowest closing price, which is located between the two highest closing prices above.

Figure 4: Channel down, resistance. Identify the two minimum closing prices and draw line 1. Use the extreme maximum closing price between the two minimum closing prices to draw a second line parallel to the first.

Figure 4 shows the steps to draw a resistance line. I use closing prices to construct these reference lines. When analyzing a channel, of course, errors associated with intraday price jumps are possible, but closing far from the intended support or resistance level represents valuable information. These constructs take some practice and are not always obvious.

The SIXTH method of inclined channels is outlined by Viktor Barishpolts "moving price channels" or "Barishpolts channels" (V. Barishpolts Forex for beginners, see Library of the Masterforex-V Trading Academy http://dma.masterforex-v.org) Taking Tom's trend channels as a basis Charters V. Barishpolts changes their angle of inclination depending on the local minimums and maximums of the candles.

V. Barishpolts writes This tool is the main one for me, despite its simplicity. A channel that includes two or more price waves is especially strong. My experience shows that trading from the borders of the channel into the channel, with fairly tight stops outside the borders, is the most effective trading tactic. Often success is brought not just by a stop, but by a reversal, since breaking through the channel border is a very strong signal, especially if it coincides with the direction of the trend. If it does not match, this is a signal of a trend reversal or transition to a flat. (In this case, to open a position, it is better to wait until the price overcomes, for example, when reversing from a downtrend to an uptrend, the previous top. This is a fairly strong signal of a reversal; usually, a double bottom or double top pattern appears.) Total:

1) 6 different methods for constructing inclined channels 2) In the following chapters we will consider * the points of opening and closing transactions when working within the framework of classical inclined channels * errors when working in classical inclined channels arising from the UNSOLVED problems of DeMark, Murphy, Naiman, Schwager, etc.

* solution to this problem in the Masterforex-V trading system Opening transactions when working using inclined channels.

All the tactics of opening and closing transactions using inclined channels among the Forex classics can be divided into 1) working INSIDE an inclined channel (rebound from the level of an inclined channel) 2) BREAKING THE level of an inclined channel a) along the trend (i.e. in an upward trend - breaking through the UPPER inclined channel - the resistance level, with a downward one - naturally the other way around) b) against the trend (i.e. with an uptrend - breaking through the LOWER inclined channel - the support level, with a downward one - naturally the other way around) Material supply scheme 1. opening and closing points transactions in inclined channels, set out by the classics of technical analysis with explanations of these points by the authors of these methods - John J. Murphy, E. Naiman, T. Demark, Schwager and others.

2. criticism of these methods with an explanation of how a trader can lose his deposit if he strictly follows the recommendations of John J.

Murphy, E. Naiman, T. Demark, Schwager and others.

3. Finding the correct answer and the subsequent solution of these problems will be necessary for us to find the correct points for opening and closing transactions in inclined channels from the point of view trading system Masterforex-V.

opening and closing points of transactions John J. Murphy in inclined channels John J. Murphy “Technical analysis of futures markets: theory and practice” (see Library of the Masterforex-V Trading Academy http://dma.masterforex-v.org/) recommends in inclined channels, open trades from the 3rd (!) rollback towards the current trend John J. Murphy writes: “After we have found the third point and the nature of the trend is confirmed, the trend line can be successfully used to solve a number of problems. One of the fundamental principles of trend is that a trend that is in progress will tend to continue moving. It follows from this that once a trend gains a certain pace and the trend line is located at a certain angle, this angle, as a rule, will remain unchanged as the trend continues to develop. In this case, the trend line will not only allow you to determine the extreme points or extrema of the corrective phases, but, more importantly, will indicate possible changes in the trend.

Let's say we are dealing with an upward trend. In this case, the inevitable corrective or intermediate declines will either come very close to or touch the rising trend line. Since in an uptrend, the futures trader expects to buy on dips, the trend line will serve as a support boundary below the market, which can be used as a buy zone. If the trend is downward, then the trend line can be used as a resistance level for selling.

As long as there is no break in the dynamics of the trend line, it can serve to determine buy or sell zones. However, at point 9 in Figures 4.7a and 4.76 such a fracture occurs. This is a signal that all positions opened in the direction of the previous trend must be liquidated.

Very often, a breakthrough of a trend line is the first sign of a change in the nature of the trend.

Rice. 4.7a Once an uptrend line is established, subsequent declines that reach the line can be used as buy zones. Points 5 and 7 on this chart could be used to open new or additional long positions. A breakout of the trend line at a point indicates a change in the nature of the trend: perhaps it is going down. Therefore, at point 9 you need to liquidate all long positions.”

criticism of the method of John J. Murphy for opening and closing transactions in inclined channels CLOSE “all long positions” John J. Murphy recommends when breaking through the level of an inclined channel, without explaining how a false breakout of inclined channels differs from a true one (with a false breakout “below the market, which can be used as a buy zone" from a true breakout as at point 9, when "a break occurs. This is a signal that all positions opened in the direction of the previous trend must be liquidated"

To understand why any trader will lose his deposit using this method, John J. Murphy, look at Figure 2.14 from the book by Eric Nyman - false breakouts occur not only at the point marked with a circle, but also to the left and right of the circle.

Figure 2. And try to work in this channel according to John J. Murphy’s criteria - you will lose if you follow John J. Murphy’s advice: 1. open only from the 3rd TOUCH (rebound) in the direction of the current trend (there were 3 touches to the left of the circle - there were in view of John J. Murphy, when he recommended opening trades from the 3rd rebound?) or can they be considered as ONE touch?). Then WHERE is the 3rd touch – a rebound from the support of an ascending sloping channel?

2. In this figure, how does a rebound from the lower border (trade opening point) differ from breaking through the lower border of the channel, at which John J.

Murphy "closing all positions." For example, I counted 7(!) penetrations of the lower boundary of the inclined channel, during which it was necessary urgently (as John J. Murphy recommends closing ALL positions... and the currency continued to follow an upward trend).

3. Why does John J. Murphy recommend closing positions when the LOWER border of the sloping channel of an uptrend is broken? Perhaps it would be more logical to close transactions at the UPPER border of the ascending channel? But the whole point is that John J. Murphy draws an ascending trend channel with only ONE line (i.e., in his theory of a trend channel there is NO upper limit of the ascending channel - the figure of the channel corridor is taken from Nyman’s book) 4. recommendations John J. Murphy explicitly contradict the Elliott theory, according to which the 3rd point of trend retracement is the 5th wave of the trend, i.e. the starting point of the REVERSE market movement.

From this point of view, read with what pathos Murphy writes about the significance of the 3rd point of confirmation of the inclined channel “Once we have found the third point and the nature of the trend is confirmed, the trend line can be successfully used to solve a number of problems. One of the fundamental principles of the trend says : a trend that is in development will tend to continue (!) its movement."

But on the same page, John J. Murphy provides a graph that completely refutes such a turning point at point 9 in Figures 4.7a and 4.76. This is a signal that all positions opened in the direction of the previous trend must be liquidated.

Rice. 4.7a Once an uptrend line is established, subsequent declines that reach the line can be used as buy zones. Points 5 and 7 on this chart could be used to open new or additional long positions. A breakout of the trend line at a point indicates a change in the nature of the trend: perhaps it is going down. Therefore, at point 9 you need to liquidate all long positions.

Rice. 4.76 Points 5 and 7 could be used as sales zones. A breakthrough of the trend line (point 9) indicates a possible reversal of the upward trend.

These and next questions to John J. Murphy will remain unanswered:

5. how can you write about the same point on the chart, * in one place, that “all positions opened in the direction of the previous trend must be liquidated”

* elsewhere “close long positions” 6. Why close long positions first and then short ones?

7. where was the “long position” opened – at point 5 (3rd point of the inclined channel)?

8. What does “point 9 indicates a possible reversal of the trend” mean, a reversal or a POSSIBLE reversal? A lot depends on the answer to this question for a trader - should he keep short trades open? Close all trades and stay out of the market? Or open new trades in the direction of a POSSIBLE new trend?

9. HOW does point 9, at which “all positions must be liquidated,” differ from the FALSE breakout of the level * in Figure 2.14 from the book by Eric Nyman * in Figure 4.19 from the book by John J. Murphy Fig. 4.9 Sometimes a breakout of a trend line within one day puts the analyst in a dilemma: should he maintain the original trend line, if it is still correct, or draw a new one? A compromise is possible in which the original trend line is preserved, but a new line is drawn on the chart with a dotted line. Time will tell which one is more correct. 10. The most unexpected thing is that John J. Murphy admits that HE HIMSELF DOESN’T KNOW WHAT IS THE DIFFERENCE IN A FALSE BREAKOUT OF AN INTLITED CHANNEL

FROM THE TRUE.

John J. Murphy writes:

"What to do with minor trendline breakouts?

Sometimes during the day prices break through the trend line, but at the time of closing everything returns to normal. So the analyst has to rack his brain: was there a breakthrough? (see Fig. 4.9). Is it necessary to draw a new trend line to take into account new data if a slight violation of the trend line was apparently temporary or random? Figure 4.9 depicts just such a situation. During the day, prices dived below the ascending trend line, but at closing they were again above it. Is it necessary to re-draw the trend line in this case?

Unfortunately, it is hardly possible to give any unambiguous advice for all occasions. Sometimes such a breakout can be ignored, especially if the subsequent market movement confirms the validity of the original trend line. In some cases, a compromise is needed when the analyst, in addition to the original one, draws a new, test trend line, which is plotted on the chart with a dotted line (see Fig. 4.9). In this case, the analyst has two lines at his disposal: the original (solid) and the new (dashed). As a rule, practice shows that if the breakout of the trend line was relatively small and occurred only within one day, and at the time of closing the prices leveled off and again reached a point above the trend line, then the analyst can ignore this breakout and continue to use the original trend line. As in many other areas of market analysis, it is best to rely on experience and instinct. In such controversial issues they are your best advisers."

Note: John J. Murphy is not only confused about the breakout of inclined channels, but he also confuses readers - what does it mean “such a breakout can be neglected, especially if the subsequent market movement confirms the truth of the original trend line,” if at the point in Figure 4.7a it is necessary "liquidate all long positions" Naiman E. -L. considers the strongest signal for opening transactions to be breaking through the levels of an inclined channel WITH THE TREND (with an ascending trend channel - breaking the upper inclined level, with a descending one, respectively, the lower one).

Naiman E. -L. Small Trader's Encyclopedia (see Library of the Masterforex-V Trading Academy http://dma.masterforex-v.org/) Let's see what this leads to in real trading.

Nyman explains his technique this way:

“The method of analyzing resistance and support lines helps traders monitor changes in the trend - its reversal or strengthening. These levels are especially important for placing protective stop orders.

The existence of these lines is based on people's memory. If a trader remembers that the price recently bounced off a support level and went up, then next time he will most likely prefer to make a purchase at this level. If the price bounced off the resistance level and went down and the trader remembers this, then, most likely, next time he will sell at this level.”

a) strong signal +++ good position for opening when the channel level is broken ON TREND b) signal is weak + when the inclined channel is broken AGAINST the current trend, with opening a position “after 2 confirmations” (according to the figure, you can more accurately clarify - after breaking 2 resistance levels against the initial downward trend) 2.4.2. Trend lines at minimum prices ("support lines" - Support) Total Naiman has a strong signal +++ good position for opening downwards signal of medium strength ++ confirmation at the level of line "A" average position for opening downwards weak signal + first confirmation at - level of line "A" second confirmation at the level of line "B" weak position, it is better to get confirmation from another indicator About the CLOSING points of transactions Eric Nyman does not write a criticism of Eric Nyman's method of opening and closing transactions in inclined channels Look carefully at the figure of chart d1 from the book Eric Nyman himself.

Figure 2. 1. WHERE do you see “strong signals +++, which are a good position for opening trades ON breaking through the upper level of the channel ACCORDING TO THE TREND.”

The answer is only in the left corner of the picture. In total, according to Naiman’s method, you will miss the ENTIRE (!) trend on d1 and will be out of the market from six months to a year (graph D1) 2. WHAT did the “strong signals +++” of a trend breakout end in all (!) three cases on the left in the corner on the image? A FALSE penetration, followed by a jerk in the opposite direction.

3. in summary, under the “strongest signal+++” Eric Nyman recommends that beginners open trades where they always open them - at the END of the movement - immediately before the correction and reversal.

4. try to answer the question yourself: “Why doesn’t Eric Nayman write about the CLOSING points of transactions using his “strong signals +++” method?” 5. Eric Nyman, like John J. Murphy, does not give clear criteria for distinguishing true from false breakouts of inclined channels by currency pairs (more precisely, Eric Nyman takes all (!) false breakouts of inclined levels of trend channels as true) Nyman himself explains this situation as follows:

"Contradictions between trend lines and patterns are manifested in:

Conflicting conclusions can also be produced by trend lines and models built on different time periods (for example, the weekly trend will show “bullish”, and the daily trend will show “bearish”).

When you encounter any of the contradictions described above, beware of making trades (opening) until the situation is clear...

In conclusion, I would like to note one of the most important rules for analyzing trend lines and patterns:

"Don't look for trendy figures where they don't exist. Don't make things up. No one doubts the abilities of your imagination."

A brief conclusion from Naiman’s words: if * the trend inclined channel is confirmed in the future, this will confirm the “correctness and significance” of this Forex analysis tool * the trend inclined channel is NOT confirmed in the future - “Don’t look for trend figures where there are none. Don’t make things up. Nobody has no doubt about the abilities of your imagination."

* miss a strong trend on d1 of at least a thousand points (as in his picture) * manage to catch stop losses THREE TIMES on “strong signals from Eric Nyman”.

* In conclusion, hear advice from a living classic of technical analysis:

“Don’t look for trending figures where they don’t exist. Don’t make things up. No one doubts the abilities of your imagination.” LeBeau Ch., Lucas D. Using an inclined channel and oscillator LeBeau C., Lucas D. Computer analysis of futures markets:

(see Library of the Masterforex-V Trading Academy http://dma.masterforex-v.org/) LeBeau C., Lucas D. write:

"The secret to a successful re-entry is to wait for the temporary correction to end and start buying quickly as soon as we understand the direction of the main trend. Waiting for the market to make a new peak is too long a wait, but we need to make sure there is enough strength to indicate that the correction has actually ended. We are talking about a very subtle point here that requires careful thought along with the presence of a sensitive and reliable indicator.

As an example of how sensitive a reentry indicator can be, we recommend the method of using a very short-term oscillator such as the three-day Relative Strength Index (RSI) as a reentry trigger signal.

(See Figure 1-7.)" In summary, LeBeau C., Lucas D. offer a method for synthesizing the advantages of two market analysis tools * the inclined channel shows the DIRECTION of the trend * the oscillator - its RECALL, in order to open a trade along the trend not at local peaks (like recommends Eric Nyman), and from a rollback With all the advantages of this method, I note a problem that the oscillator is not able to solve * when a trend reverses, the oscillator will not distinguish a trend reversal from a CORRECTION.

In total, for those traders who use oscillators, an ADDITIONAL market analysis tool is needed to see the trend reversal at its beginning, and not at the end. Thus, use the advantages of the oscillator to measure rollbacks when opening trades in the opposite direction.

Opening and closing transactions in “Barishpolts channels” V. Barishpolts Forex for beginners (see Library of the Masterforex-V Trading Academy http://dma.masterforex-v.org/) Viktor Barishpolts’ tactics are based on working inside price channels 1. sell from the upper boundary of the moving trend channel 2. buy from the lower boundary of the moving trend channel Viktor Barishpolts describes trading tactics as follows:

Tradable currency EUR/USD (or any other, but with different values ​​of stops and pressure) Chart period 6 hours Indicators used - none Tradable lot - arbitrary, but always constant.

The possible maximum series of losses is 3, amounting to 57 points each.

Efficiency - at least 100% per month.

Graphic constructions - moving channels. Channels are built according to the last three extremes - a line along two bottoms and parallel through the top, or vice versa, a line along two tops and parallel through two bottoms. The lines are drawn according to the MAXIMUM (MINIMUM) VALUES, that is, according to the shadows of the candles. An extreme point is identified when at least 2 candles pass after it has passed. There should not be less than 2 candles between adjacent extremes. Exceptions are adjacent highs - lows can be at the ends of one long candle.

Opening a position - upon reaching the channel border - inside the channel. The only possible retreat is that if there is a clear trend, you don’t have to open against it. The trader himself evaluates. In this case, losses are somewhat reduced, but very good market reversal movements are often missed.

Stop at opening - 57 points.

The target is the opposite border of the channel.

When the distance from the opening price is 50 points (in the profit direction), the stop is moved to the opening point. Next - compression at a distance of 50 points every 10 points. It is possible to tighten it at a distance of 30 points, but this increases efficiency only slightly. The compression is made only in the direction of increasing profits, but never in the direction of decreasing.

If a stop is triggered with a loss of 57 points, a position is opened in the opposite direction with a target of 57 points. The principles of compression are the same.

If, after the reversal, the price reverses again and again reaches the channel border from the outside, close the position with a loss without waiting for the stop, and there will be a break in trading for two or three waves. (Not a mandatory condition, but it gives you the opportunity to calm down and wait out the flat storm outside the market, in which this happens.) All this may seem complicated at first glance. So that you can understand this, I tried to illustrate it all with examples.

I open the chart, close my eyes and point my finger. The finger rested on August of the cold summer of 2003. Yes, not the best month for trading, last years simply fatal for markets and economies.

It became possible to draw a channel at points 1, 2, 3. At point 4 - buy at a price of 1350. Stop - 1293.

At level 1293, a reversal stop is triggered. Loss 57 points. A down position is open with a stop of 1350. When a white dodge appears (marked with a blue cross), we adjust the channel at new points - also marked in blue.

When we pass the target after the reversal (57 points, remember?) 1236, we begin to “pull” profit from above at a distance of 50 points from current price, having claims to the main goal - the channel boundary. But it was not reached (just a little) and the position was closed at a price of 1170. Profit - 123 points, total balance + 76 points.

At 1205 there is a sale. Stop - 1262. On the same white candle, a stop with an upward reversal is triggered. Loss 57 points. Balance +19 pips. One step forward - two steps back. We smile through force.

Pressing the consistently growing profit after 50 points, we set a stop at the level of 1300. This way we reach the last candle. In this case, the next bottom is formed, and we can draw a new channel (blue lines). We won’t buy, and we’re already open to the upside. What's next for us?

The price “swings”, but our stop by 50 points (and we move it up whenever possible) only touches the level of 1375 with a candle marked with a red tick. The profit is 115 points. Balance - +134 points. A bit weak? Not yet evening! We still have time to take a big minus! (kidding, of course). After two white candles, we draw a new channel along the red dots. At the blue dot at level 1325 we buy.

Two white candles lie like a balm on our soul, but do not reach the border of the channel (black line). As a result, we close at the stop level at 1375 (50 points from the maximum). The profit is the same 50 points, in total the deposit grows by 185 points. We've only been trading for a week. I wish I could quit, withdraw money and go to the Black Sea! ON the black candle “A” we should buy, but by that time we already have a new channel - blue. It is at its border that we buy at a price of 1305. Our stop is at the level of 1248. The downward candle does not touch our stop, the white candle does not reach the upper line of the blue channel, and we close the position at the pressing stop at the level of approximately 1325. Profit 20 points , and the total asset is +205. On the small candle "B" a new channel appears, green, and when it breaks we sell at a price of approximately 1335. Our patience was rewarded and we close the position with a profit of 107 points at a price of approximately 1228. Balance + 312 points. Immediately we are forced to buy at the same price - the border of the channel!

And, as it turned out, it was not in vain! on the penultimate candle in this picture a new channel appears (black lines) and we suddenly see that we have reached the channel border. We close the position at level 1328 and sell at the same price - the channel border. They put a figure (one hundred points) in their pocket.

Balance +412 points. Something suspiciously smooth! Never mind, there is still a terrible flat ahead, how many deposits have lost their lives on it!

For those who are very busy, it is possible to work through orders. For example, the price inside the channel. For the next 6 hours, we place an order at the upper border of the channel to open a position - sell at price A with a stop loss of A+57 points. We immediately set an order to open a position - buy at price A + 57 points with a stop loss at price A. The same “construction”, but in reverse, to build on the lower border of the channel unresolved contradictions of opening transactions in the Demark trading system For possible disadvantages errors and unresolved problems of Demark's trading system, Demark himself pointed out. Technical analysis is a new science (see.

Library of the Masterforex-V Trading Academy http://dma.masterforex-v.org/) "No method is perfect. Predicting price movements in the market is not an easy task. What unexpected situations may arise? In my opinion, events can develop in the following three directions.

1. A breakout of the oppositely directed TD line occurred, resulting in a new signal contradicting the original one. In this case, a new breakthrough, signaling the beginning of a new, opposite trend, becomes active, replacing the previous one.

Most often, the price trend ceases to exist in this way, and the price targets calculated with its help are canceled (see Fig. 1.30).

Rice. 1.30 Please note that the price target set by price projector 1 after the downward breakout of the TD line A-B did not have time to be realized, since there was a breakout upward of the downward TD supply line C-D. As a result, the price target based on a downward breakout of the line demand A-B, is no longer valid.

IMHO, the example indicated by Demark does NOT “signal the beginning of a new, opposite trend,” but clearly shows only the shortcomings of the TD points and TD lines he opened. From the point of view of the trading system of the Masterforex-V trading system a) we have a flat (lower limit And not broken down) b) any flat can be either a reversal figure (double or triple bottom) or a trend continuation figure (see Figure 2). The signal about a breakout of the TD line was false from the very beginning. Or an unexpected event sharply upset the balance of supply and demand, causing a price reversal immediately after the breakout. This becomes obvious the next day when the price of the first transaction is recorded.

If the current TD line is descending, then the price at the opening can either fall below this previously broken line and then continue to fall, or it can jump sharply down at the opening, forming a price gap, and fall below the TD line at the close. In the case of an ascending TD line, the validity of a price breakout is questionable if the next day the opening or closing price again rose above the ascending TD line, forming a price gap, and prices continued to rise (see Figures 1.31 and 1.32). To reduce the risk of losses from such an unexpected turn of events, you can issue a stop loss order the next day immediately after the opening of trading.

Rice. 1.31 Although prices rose above the TO line and the A-B supply line, the next day the opening price was below the closing price on the day of the breakout and then continued to fall below the descending A-B line. Such price dynamics make the breakout invalid.

Rice. 1.32 Notice how the day after the TD demand line A-B was broken, prices stopped falling. The next day, the price at the opening moment was at the same level, and from this level the subsequent upward price movement began above the A-B line. Thus, the price breakout was invalid."

Brief conclusion:

3. to understand in which cases the opening of a transaction is correct, and in which cases it is wrong - in the next chapter we will answer the main unresolved question of the Forex classics - how a false breakout of the level of an inclined channel differs from a true one.

The answer to this question is the essence of the Masterforex-V method of inclined channels in the Forex market. Disadvantages of the classical theory of trend inclined channels 1. subjectivity in constructing lines of inclined channels, which T. Demark was the first to point out, when two traders on the same chart will definitely draw 2 Inclined channels that do not coincide with each other.

2. A group of shortcomings of the classical theory of trend inclined channels was indicated by Naiman E. -L. Small Encyclopedia of the Trader (see Library of the Masterforex-V Trading Academy http://dma.masterforex-v.org/) Contradictions of trend lines and patterns are manifested in:

Contradictions between the direction of the current trend and the predicted direction obtained during the analysis (especially significant when the trend reverses);

It is difficult to estimate the opening price when a trend is detected, based only on one general construction figure (in this case, resistance and support lines help);

Inconsistencies in conclusions can also be produced by trend lines and models built on different time periods (for example, the weekly trend will be “bullish”, and the daily trend will be “bearish”).

The 3rd group of shortcomings of the classical theory of trend inclined channels follows from the fact that the 3rd point of an inclined trend channel is the 5th wave according to Elliott theory, i.e. the starting point of the REVERSE market movement.

The 4th group of disadvantages of inclined channels was indicated by D. Schwager Technical analysis. Complete Course "Trend lines and corridors are useful, but their importance is often exaggerated. It is easy to overestimate the reliability of trend lines when they are plotted in hindsight. What is often overlooked is that as a bullish or In a bear market, trend lines often need to be adjusted. Thus, although a breakout of a trend line will sometimes serve as an early warning signal of a trend reversal, such a development can equally well lead to just a simple correction of the trend line.

For example, fig. 3.11 contains a continuation of the graph in Fig. 3.4 for another two months. Bottom line in Fig. Figure 3.11 represents a trend line that could be drawn based on all available data. The upper line is a continuation of the trend line in Fig. 3.4, based on price data available before June. The June breakdown of this line did not lead to a trend reversal, but simply made it necessary to adjust the trend line. It's worth noting that the pattern has higher lows and higher highs."

Figure 3.11.

ADJUSTMENT OF UPWARD TREND LINE: SILVER, JULY

Figure 3.12.

ADJUSTMENT OF UPWARD TREND LINE: EURODOLLAR, JUNE

Figure 3.14.

Similarly, Fig. 3.14 is identical to Fig. 3.6 and 3.13 with the only difference that the depicted period is extended for another four months (relative to Fig. 3.13). The bottom lines are transferred from Fig. 3.6 and 3.13 and represent trend lines as of May and July, respectively. The breakdown of these lines did not lead to a trend reversal, but simply made it necessary to adjust the trend line. This example shows that the trend line sometimes has to be adjusted several times.

D. Schwager's conclusion The above examples indicate that a breakdown of the trend line is rather the rule than the exception. It is an undeniable fact that trend lines must be broken, sometimes repeatedly, during their evolution, which is the same as saying that trend lines are often corrected as they extend. The important takeaways from this observation are that trend lines work much better in hindsight than in real time, and trend line breaks often turn out to be false signals.

5th group - according to the tactics of Victor Barishpolts - try to find the answer to the question - why the stop loss of 57 points described by Victor worked - and you will come up with a problem, solving which you will not repeat the mistake. 6th group of shortcomings of the classical theory of trend inclined channels follows from testing Jeffrey Owen Katz, Donna L. McCormick The 7th group of shortcomings of the classical theory of trend inclined channels arises from the vagueness and imprecision of formulations when breaking through inclined channels - WHAT breakout of a trend inclined channel is considered * valid (with the opening of transactions in the opposite direction) * false ( with preliminary closing of short positions and leaving long positions) Look carefully at this figure.

* Why is this breakout false, after which the bullish trend continued further?

* Under what condition could this breakout become true?

Without answering this question, a trader should not open a real Forex account. You will inevitably be one of the 19 traders out of 20 who have ALREADY lost and left the Forex market forever.

You will not find the answer to this question from the classics.

It is with sadness that you can read John J. Murphy’s comments on this situation of breaking through the level of an inclined channel (the picture is taken from his book) “Sometimes during the day prices break through the trend line, but at the time of closing everything returns to normal. So the analyst has to rack his brains : was there a breakthrough? (see Fig. 4.9) Unfortunately, it is hardly possible to give any unambiguous advice for all cases. Sometimes such a breakthrough can be neglected, especially if the subsequent market movement confirms the truth of the original trend line. In some cases, a compromise is needed when the analyst, in addition to the original one, draws a new, test trend line, which is plotted on the chart with a dotted line (see Fig. 4.9). In this case, the analyst has two lines at his disposal: the original (solid) and the new (dashed). As a rule, practice shows that if the breakout of the trend line was relatively small and occurred only within one day, and at the time of closing the prices leveled off and again reached a level above the trend line, then the analyst can ignore this breakout and continue to use the original trend line. . As in many other areas of market analysis, it is best to rely on experience and instinct. In such controversial issues they are your best advisers."

As can be seen from this explanation, John J. Murphy has completely admitted his incompetence on the issue of true and false penetration of the inclined channel.

Brief conclusion:

1. there are at least 6 methods for constructing inclined channels 2. opening and closing points of transactions for each of these methods lead to both profit and loss for Forex traders.

3. in order to understand in which cases opening a transaction is correct and in which cases it is wrong - in the next chapter we will answer the main unresolved question of the Forex classics - how does a false breakout of the level of an inclined channel differ from a true one.

The answer to this question is the essence of the Masterforex-V method of inclined channels in the Forex market. This is what the next chapter of this book is about.

A detailed explanation of the use of inclined channels, as one of the important Forex tools (indicators), is given in the Masterforex-V Trading Academy http://forum.masterforex-v.org/ Here I will give the main provisions, by resolving which, you can independently find the answer how Using slanted channels can help you make stable profits in the Forex market.

To do this, try to solve problems that the classics of technical analysis could not solve (D. Murphy, T. Demark, D. Schwager, E. Naiman, etc. - see previous chapters http://masterforex-v.org/002_006.htm ).

Next, I name the problems of the method of inclined channels that were not resolved by the classics and tips for their resolution in the Masterforex-V trading system. THE FIRST difference between the classics of technical analysis and the Masterforex-V TS is that inclined channels are valid on large time frames, for example * in the trading system T. Demark - on D * in the Masterforex-V trading system - on all time frames from m1 to w1 inclusive, due to which the contradiction outlined by Eric Nayman is resolved: “contradictions can give trend lines and models built on different time periods (for example, the weekly trend will show “bullish”, and the daily - "bearish")". To this I can add that there may be a flat on n4, a trend on n1, etc., up to m1.

All this in the Masterforex-V trading system is a SINGLE whole of the Forex market, artificially divided by the ORGANIZER of this game, programmers of trading systems and classics of technical analysis ARTIFICIALLY into various time frames from m1 to w1 and beyond.

As a result, if you do not see the synthesis of different types of trends among themselves from m1 to w1 and work according to one time chart, you will inevitably lose, as at least 19 traders out of 20 lost before you, who believed that “the main Forex chart is D1 (or n1 or m1) Example of a slanted channel on m Example of a slanted channel on m Total: as can be seen in the example of a strong bearish session trend of the pound/dollar:

* the session trend acts as a correction to a strong bullish trend * the session trend continues as long as the price is on the left side of the downward sloping channel Practical value for real trading - every trader having 3 chart screens on his trading terminal using the Alexander Elder method ( or 4 screens according to the Masterforex-V trading system) has an advantage over the trader who has one screen open on the terminal (regardless of m1, m5, n1, n4, d1) * an inclined channel is one of the trend measurement tools * 3-4 chart screens give synthesis of different types of trends (time frames) among themselves For example, if for you the main working chart for making a decision is H1 - and you see a downward correction of the bullish trend on H1 (as in the figures above) - there is no point in talking about the end of the correction (and the opening of a buy trade "from below" from the rollback) as long as the price is on the left side of the downward sloping channel.

THE SECOND difference between the classics of technical analysis and the Masterforex-V TS - inclined channels indicate significant levels of * TREND (D. Murphy, T. Demark, D. Schwager, E. Nayman, etc.) * TREND, TREND AND FLAT CORRECTION (Masterforex-V ) This mistake of the Forex classics (spreading inclined channels ONLY to the trend) follows from the previous unresolved problem of the relationship between different timeframes.

The solution to this problem in the Masterforex-V trading system is as follows - there are at least 4 types of trend: intra-session trend, * intra-week, * trend from several weeks, * trend from several months. Therefore, the intra-session trend (m1-15) has its own inclined channels, which within the framework of a larger trend (n1-4) will be just a trend correction or a flat on it. The significance of this situation for Forex trading.

Question - WHEN does the correction (rollback) on n1-4 end, after which a new wave of the trend begins on n1-4?

The answer is when there is a true breakthrough of the inclined correction channel n1-4 (equal to the inclined TREND channel on m5-30).

This is the essence of the answer to the problem of inclined channels identified by Eric Nyman: “the contradiction between the direction of the current trend and the predicted direction obtained during the analysis (especially significant when the trend reverses);” Those.

* a trend reversal on a small time frame is the beginning of a correction on a larger time frame forex chart.

* correction reversal (small time frame trend) is the POSSIBLE beginning of a trend wave of a larger TF (conditions for confirmation or cancellation of this trend are considered using other Forex analysis tools).

The THIRD difference between the classics of technical analysis and the Masterforex-V TS is true and false breakout of inclined channels. This is a fundamental question - the end or continuation of a trend * true breakout of the boundaries of inclined channels is a reversal of the trend of a given timeframe. See the example above for 07/25/2006 - a strong bearish session trend m5 within a strong bullish trend (downward trend m5 = correction of the downward trend by n1). A true breakthrough of the upward inclined channel on m5 is ONE of the criteria for opening a buy transaction from a rollback of a strong trend on h1).

* a false breakout of the boundaries of inclined channels is just a trend correction, followed by a continuation of the trend of a given time frame. NONE of the Forex classics can tell the difference between a true and a false breakout of the boundaries of inclined channels.

None of the classics of Forex managed to resolve this contradiction, none of them were able to indicate clear criteria for distinguishing a true breakout from a false breakout of the levels of inclined channels. Examples John J. Murphy was unable to solve the riddle of a false breakout depicted in his book John J. Murphy: “Sometimes in Over the course of the day, prices break through the trend line, but at the time of closing everything returns to normal. So the analyst has to rack his brain: was there a breakthrough (see Fig. 4.9), unfortunately, it is hardly possible to give any definitive answer. advice for all occasions. As in many other areas of market analysis, it is best to rely on experience and instinct. In such controversial issues, they are your best advisers."

Eric Nyman could not explain why the downward breakout of the inclined channel in this figure was false. Figure 2. Instead of a logical explanation, Nyman did not come up with anything smarter than advising traders: “Don’t look for trend figures where they don’t exist. Don’t make things up. No one doubts the abilities your imagination."

T. Demark admitted that he was unable to understand the contradiction of inclined channels using the following example:

T. Demark wrote: “Fig. 1.30 Please note that the price target set by price projector 1 after the downward breakout of the TD line A-B did not have time to be realized, since there was an upward breakthrough of the downward TD supply line C-D. As a result, the price target based on a downward break of the A-B demand line is no longer valid."

Note: this UNSOLVED Demark problem was resolved by students of the Masterforex-V Trading Academy within an hour.

Try to solve it yourself by answering the questions: * why Demark could not resolve this contradiction (from here you will get to the question of what are the strengths and weaknesses of Demark’s trading system) * why “the price target based on a downward breakthrough of the A-B demand line is no longer valid” ? Which of the OTHER Forex instruments confirms this conclusion of Demark?

* Under what condition can this conclusion of DeMark (“a downward breakout of the A-B demand line is no longer valid”) also be true?

DOUBLE ADJUSTMENT OF DOWN TREND LINE:

CONTINUOUS MATIF FRENCH BOND INDEX FUTURES

Similarly, Fig. 3.14 is identical to Fig. 3.6 and 3.13 with the only difference that the depicted period is extended for another four months (relative to Fig. 3.13). The bottom lines are transferred from Fig. 3.6 and 3.13 and represent trend lines as of May and July, respectively. The breakdown of these lines did not lead to a trend reversal, but simply made it necessary to adjust the trend line. This example shows that the trend line sometimes has to be adjusted several times.

As a result, instead of admitting that he does not know the answer to the question about the difference between false and true breakouts of levels, Schwager concludes “about the exaggeration of the role of inclined channels” (in other words, about their secondary importance). D. Schwager wrote: “Trend lines and Although corridors are useful, they are often overstated. It is easy to overestimate the reliability of trend lines when they are plotted in hindsight. What is often overlooked is that as a bull or bear market progresses, trend lines often need to be adjusted. Thus, although a breakdown of the trend line will sometimes serve as an early warning signal of a trend reversal, such a development can equally well lead to only a simple correction of the trend line. For example, Fig. 3.11 contains a continuation of the chart in Fig. 3.4 for another two months. The lower line in Fig. 3 represents the trend line that could be drawn based on all available data. The upper line is a continuation of the trend line in Fig. 3.4, based on price data available before June. The June breakdown of this line did not lead to a trend reversal, but simply made it necessary to adjust the trend line. It's worth noting that the pattern has higher lows and higher highs.

D. Schwager's conclusion The above examples indicate that a breakdown of the trend line is rather the rule than the exception. It is an undeniable fact that trend lines must be broken, sometimes repeatedly, as they evolve, which is the same as saying that trend lines are often corrected as they extend. The important takeaways from this observation are that trend lines work much better in hindsight than in real time, and breakouts of trend lines often turn out to be false signals.

Total - as can be seen from the various figures, none of the classics ever resolved the question WHERE * false breakout (equal to a rebound from the level and continuation of the previous trend = an excellent position for opening a trade along the old trend) * true breakout (equal to a CHANGE of trend = an excellent position for opening a trade AGAINST the old trend).

Note: I was amazed every time how the classics of technical analysis listed above can write tens and hundreds of pages about inclined channels if they do not know the answer to main question, for the sake of which these inclined channels are actually constructed * true breakout of the inclined channel = trend change * false breakout of the inclined channel = rebound and continuation of the trend.

And WHAT can you call your book T. Demark. Technical analysis - a new science (?!) if it is based on the method of inclined channels, in the matter of breaking through which you have to rely “on intuition and instinct”?

Try to independently answer a question that has not been resolved by the classics of technical analysis. The price of not knowing the answer to this question is your trading deposit, which you can either steadily increase or lose without knowing the answer to this question.

A hint for finding the answer to this question from the Masterforex-V trading system An example from recommendations for real trading in the Masterforex-V Trading Academy 4.09. questions:

* why didn’t any of the participants of the Masterforex-V Trading Academy open a buy deal online after a false breakout of the inclined channel at the point 1.9060? How was it clear online that the breakout of the inclined channel was FALSE?

* why did online participants of the Masterforex-V Trading Academy open short trades in the area of ​​1.9033?

Examples of measuring 2 options for the further movement of a currency pair from the point of view of inclined channels (from the materials of the Masterforex-V Trading Academy) The FOURTH difference between the classics of technical analysis and the Masterforex-V TS - inclined channels cannot be considered separately from other important tools for analyzing the Forex market * moving averages average * Elliott waves (draw your own actions when breaking through the inclined channel at the end of the 5th wave, the first or at the beginning of the 3rd. Decide for yourself in which cases you will be out of the market, in which you will open a short trade, and in which you will open a long one and where stop is located in each of the listed cases) * horizontal levels and SUB-levels of support and resistance * currency pairs of allies of your “working” currency pairs * time of opening a transaction (at the beginning of the session, at the end, in the middle?) * 3-4 screens of different charts timeframes (where is the trend, where is the trend correction, where is the flat) * accounting for news and much more, which is studied at the Masterforex-V Trading Academy (nowhere else in the world is the question of synthesizing several market analysis tools raised, the intersection of signals of which provides objective points entry and exit from the market) For example, the synthesis of ONLY 2 elements - the resistance of the horizontal and inclined channels ONLY on one timeframe - h4. shows the pattern of rebound from the upper level of the inclined channel Note: The picture was made on September 1, 2006. at the Masterforex-V Trading Academy. The pound/dollar, having reached this local peak, turned down points. Look carefully at the figure and try to determine what factors in the movement of the pound indicated the possible start of such a deep downward fall over the next week.

General conclusions about the role of inclined channels in the Masterforex-V trading system 1. inclined channels are one of the most important Forex indicators, because they BEFORE moving averages show a change in trend direction 2. There are at least 6 methods for constructing inclined channels, which indirectly confirms the presence of unresolved problems in each of these methods.

3. The authors of new methods for constructing inclined channels, seeing the shortcomings of their predecessors, created new methods for their construction, which also suffered from previous shortcomings, because did not answer the main question - in WHAT case, at the moment of breaking through an inclined channel, consider this breakout * TRUE, which means a change in the direction of the trend (and, accordingly, the trader replaces transactions with “buy” in an uptrend - with transactions with “sell”, because . the upward inclined channel CHANGED to the DOWN inclined channel) * FALSE, in which this breakout is false and corresponds to an ordinary correction (rollback) of the trend 4. The method of inclined channels in the Masterforex-V Trading System is based * on resolution internal problems methods for constructing inclined channels that the classics of technical analysis failed to resolve * on the synthesis of this method and other Forex instruments (indicators), the suppression of signals of which provides objective entry points into and exit from the market Classic figures of technical analysis - trend reversal The meaning of classic continuation figures and trend reversal is huge for a real trader. If we have a trend continuation figure in front of us, it means there is a regular correction (rollback) of the trend, from the end of which it is necessary to open a trade along the trend (for example, in a bullish trend, in case of a downward rollback we open a buy deal and catch the next wave of the trend); a trend reversal figure means that the currency the pair is at its peak, followed by a reversal, from the peak of which it is necessary to open a trade AGAINST the old trend (for example, during a bullish trend, at the very top of which, we open a sell trade and catch the first wave of the NEW trend).

Introduced?

We open, for example, chart n4 - we see 1. a trend continuation figure - we wait for the end of the correction and by opening a trade along the trend (the figure is called CONTINUATION of a trend) we earn several hundred points on this trend 2. Then we see a trend reversal figure - several hundred more points in reverse side 3. A rollback follows again (a continuation figure of a new trend) and having opened from the peak of the rollback, we again open a trade along the trend, etc. nothing bothers you ad infinitum?

For example, the experience of 19 out of 20 traders who lost their deposits, who studied trend continuation and trend reversal patterns as scrupulously as you did.

I will note three main reasons, the resolution of which formed the basis of the Masterforex-V trading system about trend continuation and trend reversal patterns.

1. classics of technical analysis describe ALL trend continuation and reversal patterns so UNCLEARLY that these patterns are visible AFTER the end of the movement, and not at the beginning of it, as a real trader needs.

For example, one of the authors of the description of these trend continuation and reversal figures, Eric Nyman, at the end of his story about dozens of these figures, wrote the following conclusion, which strikes me personally with its cynicism: “Don’t look for trend figures where they don’t exist. Don’t invent them. No one doubts in the abilities of your imagination"

This is how it is necessary to set out the CRITERIA for these patterns of trend continuation and reversal, so that the trader (the person interested) does not see them where these figures exist and, on the contrary, “invents” them where there is no trace of them (imagine in geometry, as a science, the triangle and the square would be described in such a way that they could not be distinguished from each other in Forex, as it exists now, this is a common thing).

AREAS 2011 1 CONTENTS Introduction 4 Chapter 1. GENERAL INFORMATION 11 1.1. Brief description 11 1.2. Types of permitted use of forests 27 Chapter 2. STANDARDS, PARAMETERS AND TERMS OF PERMITTED USE OF FORESTS 2.1. Standards, parameters and terms of permitted use of forests during timber harvesting 2.2. Standards, parameters and deadlines..."

“MINISTRY OF TRANSPORT OF THE RUSSIAN FEDERATION FEDERAL SERVICE FOR SUPERVISION IN THE FIELD OF TRANSPORT Standard Supervision Department PLG GVS FS NST MT RF TECHNOLOGICAL INSTRUCTIONS for the maintenance of An-24, An-26, An-30 aircraft of all modifications Issue 2.04 PLANER Edition revised and supplemented noe texHonor Rostov- on-Don 2006 MINISTRY OF TRANSPORT OF THE RUSSIAN FEDERATION FEDERAL SERVICE FOR SUPERVISION IN THE FIELD OF TRANSPORT TECHNOLOGICAL INSTRUCTIONS for the maintenance of An-24, An-26,..."

“Analytical part of the self-examination report of the Federal State Budgetary Educational Institution of Higher Professional Education RGAZU 1. General information about the educational organization Full name of the organization - Federal state budgetary educational organization in accordance with the institution of higher education vocational education Rosustav Siysk State Agrarian Correspondence University Abbreviated name of the organization in accordance with the charter Departmental affiliation Ministry of Agriculture Russian Federation ness..."

“Methodological guide to laboratory and practical classes in the discipline Technology of structural materials and materials science for students of specialties 150405, 190601, 190603, 110301, 110302 of all forms of education SYKTYVKAR 2007 FEDERAL AGENCY FOR EDUCATION SYKTYVKAR FORESTRY INSTITUTE - FI LIAL OF STATE EDUCATIONAL..."

“Approved by order of the Committee of Forestry and Timber Industry of the Novgorod Region FORESTRY REGULATIONS OF VALDAI FORESTRY OF THE NOVGOROD REGION 2011 1 CONTENTS Introduction 4 Chapter 1. GENERAL INFORMATION 11 1.1. Brief description 11 1.2. Types of permitted use of forests 26 Chapter 2. STANDARDS, PARAMETERS AND TERMS OF PERMITTED USE OF FORESTS 2.1. Standards, parameters and terms of permitted use of forests during timber harvesting 2.2. Standards, parameters and deadlines..."

“7 Plenary reports UDC 1:001 RESEARCH AND DEVELOPMENT AT THE FACULTY OF COMPUTER SCIENCES AND TECHNOLOGIES Anoprienko A.Ya. Donetsk National Technical University, Donetsk Department of Computer Engineering E-mail: [email protected] Abstract Anoprienko A.Ya. Research and development at the Faculty of Computer Science and Technology. The report presents a brief outline of the history, state and future of research and development at the Faculty of Computer Science and Technology of Donetsk National Technical University. Examples are given...”

“AZASTAN REPUBLICS BILM ZHNE YLYM MINISTERLIGI. I. STBAEV atynday AZA LTTY TECHNICAL UNIVERSITIES YLYMI KITAPKHAN azastan alymdaryny biobibliography son materialdar Zharaspaev Myrzaali Topaly ALMATY 2011 Zharaspaev Myrzaali Topaly (azastan alymdaryny biobibliography son materialdar) / plant: Shabanbaeva E.N. ,Shakirova M.Zh. - Almaty: AzTU. - 2011. – 117 b. Basylyma zhauapty: Donkusheva.S. Zhauapt editor: Ibragimova T.I. spread: Shabanbaeva E.N., Shakirova M.Zh. © Shabanbaeva E.N., Shakirova M.Zh...."

“97 World of Russia. 2005. No. 2 On the threshold of a professional career: social problems and personal choice strategies1 G.V. IVANCHENKO Society's concerns about the situation when a significant part of higher school graduates begin to work outside their specialty or cannot find a job at all did not arise today. The well-known metaphor of a ghost station, where trains no longer run on schedule, attributed by W. Beck to sectors of the education system affected by unemployment, is already almost twenty...”

“GOST R 51288-99 (IEC 1187-93) UDC 621.317.44.08:006.354 Group P01 STATE STANDARD OF THE RUSSIAN FEDERATION FOR MEASURING ELECTRICAL AND MAGNETIC QUANTITIES Operational documents Means for measuring electric and magnetic quantities. Exploitation documents OKS 17.220.20 OKSTU 6603 Date of introduction 2000-07-01 Preface 1 DEVELOPED AND INTRODUCED by the All-Russian Research Institute Standard 2 ACCEPTED AND ENTERED INTO EFFECT by Resolution of the State Standard of Russia dated June 25, 1999 No...."

“OPEN JOINT STOCK COMPANY NUCLEAR ENERGY INDUSTRIAL COMPLEX Non-state educational institution of additional professional education CENTRAL INSTITUTE FOR ADVANCED QUALIFICATIONS OF THE ROSATOM STATE CORPORATION (NOU DPO CIPK ROSATOM) ST. PETERSBURG BRANCH APPROVED Branch Director T.N. Tairov 2013 PROGRAM RAMM And advanced training Training of experts in the field of gamma spectrometric measurements (Radiation monitoring at nuclear energy facilities and...”

“FILIN Nikolay Vasilyevich General designer of cryogenic technology, Doctor of Technical Sciences, Professor, Honored Worker of Science and Technology of the Russian Federation, laureate of the USSR Council of Ministers Prize, awarded the Order of the Red Banner of Labor, the Badge of Honor and medals. Published: Issue 2 (26), 2007 Kholodilshchik.RU: - Dear Nikolai Vasilyevich, first of all, let me thank you for kindly agreeing to answer the questions of the Kholodilshchik.RU correspondent. Filin N.V.: - The 21st century is inextricably ... "

"J. Dixon, J. Bakkes, K. Hamilton, A. Kant, E. Latz, S. Peggiola, J. Hee A NEW LOOK AT THE WEALTH OF NATIONS Indicators of environmentally sustainable development Moscow 2000 ENVIRONMANTALLY SUSTAINABLE DEVELOPMENT STUDIES AND MONOGRAPHS SERIES NO. 17 Expanding the Measure of Wealth Indicators of Environmentally Sustainable Development Jon Dixon, Jan Bakkes, Kirk Hamilton, Arundahati Kunte, Ernst Lutz, Stefano Pagiola, Jian Xie The World Bank Washington, D.C. A NEW LOOK AT THE WEALTH OF NATIONS Indicators...”

"OKP 42 7612 ULTRASONIC THICKNESS GAUGE A1209 OPERATION MANUAL APYAS.412231.009 RE Acoustic Control Systems Moscow 2011 Ultrasonic thickness gauge A1209 Contents Description and operation of the device 1 Purpose of the device 1.1 Purpose and scope of use 1.1.1 Operating conditions 1.1.2 Technical characteristics 1.2 Design and operation of the device 1.3 Device design 1.3.1 Operating principle 1.3.2 Operating modes 1.3. Device display 1.3. Device keyboard 1.3. Intended use..."

“Created on the initiative of Diagnosticians - active Participants of the Forum http://forum.autodata.ru/ and Publishing House Legion - Autodata http://autodata.ru/, registered in the Unified State Register legal entities Russian Federation October 23, 2007 Supported by the Publishing House Legion - Avtodata ARCHIVE of author's articles of the Internet resource LEGION-AVTODATA for previous years Attention: addresses for 2009 are abbreviated and, if you want to find the article, then before the copied address of the article...”

"1. Goals of mastering the discipline: Goal of the discipline: To give students basic ideas about the rational construction and management of production at agricultural enterprises of various organizational and legal forms in interaction with enterprises and organizations in other areas of the agro-industrial complex. Objectives of the discipline: The objectives of the discipline are reduced to the study of scientific and theoretical provisions and justification of practical directions for the rational organization of production at technical service enterprises and its divisions with...”

"FEDERAL EDUCATION AGENCY VLADIVOSTOK STATE UNIVERSITY OF ECONOMICS AND SERVICE V.N. Gryanik, S.N. Pavlikov, E.I. Ubankin RADIO-ELECTRONIC SURVEILLANCE EQUIPMENT Recommended by the Far Eastern Educational and Methodological Association as teaching aid for students of higher educational institutions Vladivostok 2006 UDC 65.0 BBK 32.884 G 20 Reviewers: Department of acoustic instruments and technical means of navigation of the Dalrybvtuz (Technical University), head of the department Ph.D.,...”

"STATE COMPULSORY EDUCATION STANDARD OF THE REPUBLIC OF KAZAKHSTAN _ Higher education BACHELOR'S DEGREE MAMANDA 5B010700 - BEYNELEU NERI ZHNE SYZU SPECIALTY 5B010700 - FINE ARTS AND DRAWING SPECIALITY 5B 010700 - FINE ARTS AND DRAWING State Educational Standards of the Republic of Kazakhstan 6.08.063-2010 Ministry of Education and Science of the Republic of Kazakhstan Astana State Educational Standards of the Republic of Kazakhstan 6.08. 063-2010 Preface 1 DEVELOPED AND INTRODUCED by the Kazakh National Pedagogical University named after Abai, the Eurasian National University...”

“UDC 338.45:621(470.51)(084) BBK 63.3(2Ros.Udm)6-2ya61 R 609 Upstream / ed. L. Rodnova. – Izhevsk, 2013. – 244 p.: ill. R 609 Photo album Upstream is dedicated to the 55th anniversary of the Izhevsk Radio Plant - one of the leading enterprises in the radio-electronic industry in modern Russia. Using the language of images, facts and lyrical and philosophical understanding, the book tells about the unique creative team of the plant. Attention and thought are focused in the present time. High-tech..."

“A.A. Kondratenko Meet Konstantin Nosov! Pyatigorsk 2008 UDC 626/627 K 64 BBK 38.778 ISBN 978-5-91266-011-5 Kondratenko Alexander Andreevich Meet Konstantin Nosov! Pyatigorsk, 2008. 135 pp. with illustration. Sevkavgiprovodkhoz Technical editor - hydraulic engineer, candidate of technical sciences Andrey Aleksandrovich Kondratenko The book is dedicated to the anniversary date - the 60th anniversary of the birth of Konstantin Nikolaevich Nosov, whose life and fate are inextricably linked with the most important industry economy of the South..."

By Axel Rudolph, Rudolph Axel and Francis Bray, Francis Bray. Masters in Technical Analysis

Rudolf Axel and Francis Bray are leading experts in Technical analysis of the European Foreign Exchange Markets in Dow Jones Newswires

In the table Technical Analysis of European Foreign Exchange Markets Resistance, support levels and comments by Rudolf Axel are provided

Most important information is the currency turning point - Pivot Point

The turning point for each pair is equal to the sum of the high, low and closing price divided by three

If dependent pairs, for example EUR/USD or EUR/CHF, line up above this point, then get ready for the currency to move up in the European session, breaking through the levels. If the price is below the Pivot Level, then there is a possibility of mirror events

A little lower on the page there is a column Dow Jones Newswires By Technical Analysis of Seven Major Currency Pairs for a week. Author Jerry Tan, Jerry Tan

Technical Analysis of European Foreign Exchange Markets

Authors Rudolph Axel, Francis Bray – Axel Rudolph, Francis Bray

24 hour sliding charts

The forecast comes out from 11.00 to 12.00 Moscow time

Forecast for June 05, 2017

US dollar tends to decline against euro, Japanese yen and Swiss franc

–	EUR/USD pair	US dollar/Japanese yen pair	British pound/US dollar pair	US dollar/Swiss franc pair
Weekly trend	Up	Up	Up	Down
Monthly trend	Up	Down	Up	Down
200 days, skol. Wed	1.0789	112.24	1.2598	0.9969
3rd resistance	1.1370	111.40	1.2945	0.9720
2nd resistance	1.1330	111.20	1.2920	0.9700
1st resistance	1.1290	111.00	1.2905	0.9675
Pivot point*	1.1270	110.56	1.2867	0.9642
1st support	1.1225	110.20	1.2850	0.9605
2nd support	1.1200	109.85	1.2830	0.9575
3rd support	1.1170	109.45	1.2790	0.9535

EUR/USD pair during the day: Relative Strength Index (RSI) gives mixed and positive signals. Long positions above 1.1225 with targets at 1.1290 and 1.1330 seem appropriate. If the pair falls beyond 1.1225, it will target 1.1200 and 1.1170.

EUR/USD pair on the monthly chart: Uptrend.

Intraday USD/JPY pair: The possibility of a further technical recovery cannot be ruled out, but the space for this will be limited. Short positions below 111.00 with targets at 110.20 and 109.85 seem appropriate. With a rise above 111.00, the pair will target 111.20 and 111.40.

US dollar/Japanese yen pair on the monthly chart: Downward trend.

Intraday GBP/USD: A break below 1.2850 would trigger a pullback towards 1.2830. Short positions below 1.2905 with targets at 1.2850 and 1.2830 seem appropriate. If the pair rises above 1.2905, it will target 1.2920 and 1.2945.

British pound/US dollar pair on the monthly chart: Uptrend.

USD/CHF intraday: If the pair's technical recovery continues, it will be limited. Short positions below 0.9675 with targets at 0.9605 and 0.9575 appear appropriate. With a rise above 0.9675, the pair will target 0.9700 and 0.9720.

US dollar/CHF pair on the monthly chart: Downward trend.

–	Euro/British pound	Euro/Japanese yen	Euro/Swiss franc	Australian dollar/US dollar
Weekly trend	Up	Up	Up	Down
Monthly trend	Up	Down	Down	Down
200 days, skol. Wed	0.8565	121.09	1.0753	0.7558
3rd resistance	0.8810	125.30	1.0900	0.7495
2nd resistance	0.8790	125.05	1.0890	0.7475
1st resistance	0.8770	124.85	1.0875	0.7460
Pivot point*	0.8759	124.59	1.0869	0.7440
1st support	0.8735	124.35	1.0850	0.7415
2nd support	0.8710	124.10	1.0835	0.7390
3rd support	0.8695	123.70	1.0820	0.7370

Intraday EUR/GBP: The RSI lacks downward momentum. Long positions above 0.8735 with targets at 0.8770 and 0.8790 seem appropriate. With a decline beyond 0.8735, the pair will target 0.8710 and 0.8695.

Euro/British pound pair on the monthly chart: Uptrend.

Intraday EUR/JPY: If the pair's technical recovery continues, it will be limited. Short positions below 124.85 with targets at 124.35 and 124.10 seem appropriate. With a rise above 124.85, the pair will target 125.05 and 125.30.

Euro/Japanese yen pair on the monthly chart: Downward trend.

Intraday EUR/CHF: A break below 1.0850 would trigger a pullback towards 1.0835. Short positions below 1.0875 with targets at 1.0850 and 1.0835 seem appropriate. With a rise above 1.0875, the pair will target 1.0890 and 1.0900.

Euro/Swiss franc pair on the monthly chart: Downward trend.

AUD/USD pair during the day: The RSI gives positive signals and indicates that the pair is inclined to grow. Long positions above 0.7415 with targets at 0.7460 and 0.7475 seem appropriate. With a decline beyond 0.7415, the pair will target 0.7390 and 0.7370.

Australian dollar/US dollar pair on the monthly chart: Downward trend.

The pivot point is calculated as the sum of the high, low and closing level divided by three.

Technical analysis of seven major currency pairs for the week

Dow Jones Newswires Column by Jerry Tan

June 05 – June 09, 2017

US dollar/yen and US dollar/Canadian dollar pairs will test the strength of nearby supports

US DOLLAR/JAPANESE YEN

1st support level – 110.00 (important)

1st resistance level – 115.50 (moderate)

2nd support level – 108.00 (important)

2nd resistance level – 118.50 (important)

The pair is declining and may test the key support at 110.00, which limits downside potential. The Relative Strength Index (RSI) is sending mixed signals. Additionally, the 20- and 50-day moving averages are leveling off after recent gains. Thus, until the key support of 110.00 is broken, the pair’s prospects remain positive and the pair will target 115.50 and 118.50. A break below 110.00 will change the pair's outlook to negative, targeting 108.00 and then 105.50.

EURO/USD

1st support level – 1.0835 (important)

1st resistance level – 1.1300 (important)

2nd support level – 1.0675 (important)

2nd resistance level – 1.1465 (important)

The pair has risen above the upper boundary of the ascending channel and is prone to further growth. The RSI index remains firmly above the neutral level of 50 and lacks upward momentum. In addition, the upward momentum is strengthened by the rising averages for 20 and 50 periods. The level of 1.0835 limits the downside potential and as long as the pair does not fall below this level, we should expect further growth to 1.1300 and then to 1.1465. Only a break below 1.0835 will change the pair's outlook to negative and target the pair at 1.0675.

AUSTRALIAN DOLLAR/US DOLLAR

1st support level – 0.7295 (moderate)

1st resistance level – 0.7610 (important)

2nd support level – 0.7150 (important)

2nd resistance level – 0.7750 (important)

The pair is trading below its 50-day downward moving average and is trending lower. The RSI index is below its neutral level of 50 and lacks upward momentum. In addition, the level of 0.7610 acts as a key resistance and limits the growth potential. Until the resistance of 0.7610 is broken, the pair is likely to fall further to 0.7295 and then to 0.7150. Only a break above 0.7610 will change the pair's outlook to positive and target 0.7750.

NEW ZEALAND DOLLAR/US DOLLAR

1st support level – 0.6950 (important)

1st resistance level – 0.7250 (important)

2nd support level – 0.6810 (important)

2nd resistance level – 0.7380 (important)

The pair broke above the 20 and 50 day moving averages and is poised for growth. The 20-day moving average recently crossed upward from the 50-period moving average, which indicates the pair is on the rise. The RSI index is above the neutral level of 50 and lacks downward momentum. Until the support of 0.6950 is broken, we should expect further growth of the pair to 0.7250, and then to 0.7380. Only a break below 0.6950 will change the pair's outlook to negative and target 0.6810.

BRITISH POUND/US DOLLAR

1st support level – 1.2540 (important)

1st resistance level – 1.3075 (moderate)

2nd support level – 1.2350 (important)

2nd resistance level – 1.3500 (moderate)

The pair is inclined to grow and is trading above the 50-day rising average, which acts as support. The RSI index is above the neutral level of 50. Continued consolidation cannot be ruled out, but the space for this will be limited. The balance of risks is shifted towards growth until the level of 1.2540 is broken, we should expect further growth of the pair in the direction of 1.3075 and 1.3500. Only a break below 1.2540 will open the way for further consolidation towards 1.2350 and 1.1975 (January low).

US DOLLAR/SWISS FRANC

1st support level – 0.9530 (important)

1st resistance level – 0.9865 (important)

2nd support level – 0.9440 (important)

2nd resistance level – 1.0100 (important)

The pair is trending lower as the 20- and 50-day moving averages are adding to the downward momentum and the RSI is giving negative signals. Until the level of 0.9865 is overcome, we should expect a further fall to 0.9530, and then to 0.9440. A break above 0.9865 will change the pair's outlook to positive and target 1.0100.

US DOLLAR/CANADIAN DOLLAR

1st support level – 1.3400 (important)

1st resistance level – 1.3800 (important)

2nd support level – 1.3200 (important)

2nd resistance level – 1.3955 (moderate)

The pair is down from the May high of 1.3800, but is still trading above key support at 1.3400, which is limiting its decline. Even if the pair's consolidation continues, its scope will be limited. Until the level of 1.3400 is broken, we should expect further growth of the pair towards 1.3800, and then towards 1.3955. Only a break below 1.3400 will target the pair at 1.3200 and 1.3000.

TECHNALYSIS: EUR/USD to break out of Wednesday's trading range Dow Jones Newswires column by Axel Rudolf, MSTA/ LONDON, November 27. /Dow Jones/. The euro/US dollar pair is losing its upward momentum after its advance was limited by the resistance area of ​​1.3081-1.3070 over the past two days. The pair could provide a technical signal of downside potential if Wednesday's trading range of 1.3070-1.2819 is broken. According to this column's November 12 forecast, the pair was expected to exceed the 1.30 area, and a minor Elliott wave could form above this area. The forecast came true, and now the question is whether wave C has already completed at this week's high of 1.3081, or whether the pair will rise to the wave A high at 1.3300 reached on October 30, or even higher. Breakthrough trading range Wednesday 1.3070-1.2819 can give us an idea of ​​which scenario the situation is most likely to develop, since such breakouts often determine the short-term trend. If Wednesday's 1.2819 low fails, the pair will target the 1.2742 support area (Nov. 17 high) followed by the 1.2650 area. The next potential support is expected around 1.25. If a shortened correction A, B, C forms, we should expect the pair to decline below the wave B low of 1.2388, reached on November 13, and below the current year's low of 1.2335. On the other hand, if a break below Wednesday's intraday low at 1.2819 results in only a modest decline that fails to renew the 2008 lows, a more challenging upward correction off this year's low at 1.2335 may be forming. This development of the situation will indicate the formation of a larger four-wave correction, which began in July at the level of 1.6040. The first wave was formed by a fall from this level to 1.3882 (September 11 low). The second wave is an increase from 1.3882 to 1.4867 /maximum on September 22/. And the third wave is a fall to the October low. During the fourth wave, the pair is likely to trade sideways or gradually grow. The fourth wave is therefore a more complex correction than the three-wave Elliott A, B, C correction. However, there is a possibility of a breakout of the upper boundary of the 1.3070-1.2819 Wednesday trading range. With this development of the situation, the pair will continue to grow within wave C, which began with the low of wave B at 1.2388, reached on November 4. In case of growth above 1.3070, the pair will target the 1.3150 area, then the wave A high reached on October 30 at 1.3300, and if it breaks through, the resistance level of 1.3444 (October 6 low). Traders and investors should wait for a breakout of Wednesday's trading range before opening positions. Daily oscillators such as the slow stochastic and relative strength index continue to point higher -By Axel Rudolph, Dow Jones Newswires; +44 207 842 9249; [email protected]; PRIME-TASS translation; +7 495 974 7664; dowjonesteam @ prime-tass.com. /End/ Dow Jones Newswires, PRIME TASS