TECHNICAL ANALYSIS
FX
down trend will be confi rmed if the price can break out the Daily Kumo on the downside. Cur rently the price is ver y f ar from the Daily Kijun Sen and the Kumo has a flat top, so a bearish cor re ction is ver y possible in the near futur e.
USDJPY Retrospect Figure 9: USDCHF Daily
USDCHF Prospect While
the Weekly and Monthly USDCHF char t s are
s t ill clearly bearish, the Da ily chart turned into bul lish in the first part of September. The cont inuation of the
On the Monthly USDJPY char t
the bearish trend
cont inued in the la st 3 months too. The price and the Chikou Span were below the other Ichimoku component s and the Kumo future wa s clearly Kumo
bearish be came too. thicker
The and
Figure 10: USDJPY Monthly
thicker, which is the sign of a heal thy and strong trend. On the Weekly chart July star ted with a strong bearish Tenkan- Sen/Kijun-Sen crossover and it was a fully confi rmed sell entry signal as all other Ichimoku components were clearly bearish too. Af ter the crossover, the price marched down more than 300 pips til l the middle of September. On the Daily USDJPY chart the picture was clearly bearish too with a strong bearish Tenkan- Sen/Kijun-Sen crossover signal on the 20th of July.
Figure 11: USDJPY Weekly
USDJPY Prospect Al l higher time frames are stil l
FX TRADER MAGAZINE October - December 2011 67
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86