Of course, currency pairs can trend for a long, long time - like
bonds. Just look at the long term chart of USDJPY - how many have
tried to catch the falling knife over the past x number of years?
Ouch.
On the other hand, the pair is at historic lows - gotta be worth
a punt on the long side sometime soon....
Posted by philosoraptor on 29th of Sep 2011 at 01:42 pm
Not so, RP. Each is the stated currency name against the Dollar
- just not always as per the pair order by FX custom. For example,
bring up a two year chart of FXY and you will see it trades
perfectly inverse to the USDJPY chart you just posted.
p.s. main difference is the existence of large gaps on the ETFs,
because they only trade during US exchange hours.
Posted by philosoraptor on 22nd of Sep 2011 at 03:03 pm
Matt, your comment is supported by weak internals - $TRIN that
reaches 4.0 level intraday normally associated with a weak close
(according to my own observations). $VOLSPDC ever decreasing.
Posted by philosoraptor on 21st of Sep 2011 at 01:57 pm
The 'powers-that-be' have kept price below the intraday VWAP
(sloping magenta dots) since the volatile opening few minutes -
don't be surprised to see a breakout above VWAP around the Fed
announcement - however, if so, will it be breakout or fakeout?
Posted by philosoraptor on 19th of Sep 2011 at 10:31 am
Mid-point (horizontal dotted grey line) between S2 and S3 pivots
has provided support so far, while intraday VWAP (sloping magenta
dots) has provided resistance. Something has to give...
$TRIN very high day - it has reached these levels (3.5+)
intraday on five other occasions since the sell-off started. On
each occasion, price pretty much stayed weak into the close.
Posted by philosoraptor on 2nd of Sep 2011 at 02:27 pm
Not sure it's going to hold, but those pesky mid-pivots are
again in play - at the moment price is trying to find support at
the mid-level between S2 and S3.
Posted by philosoraptor on 25th of Aug 2011 at 04:06 pm
Price stayed below intra-day VWAP all day. However, during the
second half of the session, price stayed between a channel created
by pivot mid-points rather than major pivot points. Those
mid-points are definitely in play at times.
Posted by philosoraptor on 24th of Aug 2011 at 01:50 pm
Also, after a strong day in one direction like yesterday, price
often chops around the next - consider the intraday VWAP
(cyan/magenta dots) today. Yesterday, the bulls were in total
control with price remaining above the intraday VWAP all day -
today price is oscillating around the VWAP - neither side has
managed to gain 'control' yet...
Posted by philosoraptor on 23rd of Aug 2011 at 09:46 am
To clarify, solid green rather than the normal hollow green. See
chart below. The inverse applies to 'false' down days i.e. hollow
red candles rather than solid red candles with intraday price
action bullish although closing lower than the previous day.
Posted by philosoraptor on 23rd of Aug 2011 at 09:39 am
Brian, I completely agree with you but would add one small but
potentially important detail - yesterday's close was higher than
the previous day's close.
Therefore, using TradeStation's 'candlesticks with trend'
charting, you get a solid green candle on SPY i.e. a down day
intra-day but a higher close than the previous day. In other words,
a 'false' up day. Such a nuanced understanding might be
significant...
The community is delayed by three days for non registered users.
Title: USDJPY long term chart Of
Posted by philosoraptor on 29th of Sep 2011 at 02:30 pm
Of course, currency pairs can trend for a long, long time - like bonds. Just look at the long term chart of USDJPY - how many have tried to catch the falling knife over the past x number of years? Ouch.
On the other hand, the pair is at historic lows - gotta be worth a punt on the long side sometime soon....
Not so, RP. Each is
Posted by philosoraptor on 29th of Sep 2011 at 01:42 pm
Not so, RP. Each is the stated currency name against the Dollar - just not always as per the pair order by FX custom. For example, bring up a two year chart of FXY and you will see it trades perfectly inverse to the USDJPY chart you just posted.
p.s. main difference is the existence of large gaps on the ETFs, because they only trade during US exchange hours.
Title: Currency ETFs A few currency
Posted by philosoraptor on 29th of Sep 2011 at 01:30 pm
A few currency ETFs, all from the same provider:
CurrencyShares Australian Dollar Trust ETF (FXA)
CurrencyShares British Pound Sterling Trust ETF (FXB)
CurrencyShares Canadian Dollar Trust ETF (FXC)
CurrencyShares Euro Trust ETF (FXE)
CurrencyShares Japanese Yen Trust ETF (FXY)
CurrencyShares Mexican Peso Trust ETF (FXM)
CurrencyShares Russian Ruble Trust ETF (XRU)
CurrencyShares Swedish Krona Trust ETF (FXS)
CurrencyShares Swiss Franc Trust ETF (FXF)
Ask and ye shall receive
black candle on stockchart
Posted by philosoraptor on 29th of Sep 2011 at 12:45 pm
Ask and ye shall receive - search and ye shall find...
http://support.stockcharts.com/entries/20591-what-does-a-solid-black-or-hollow-red-candlestick-mean
Pivot mid-levels
Posted by philosoraptor on 28th of Sep 2011 at 02:19 pm
As indicated by the white arrows on the chart, pivot mid-levels have provided resistance and support in terms of high and low of the day (so far).
October 1929 crash was a
Thursday - Tuesday pattern
Posted by philosoraptor on 23rd of Sep 2011 at 04:34 pm
October 1929 crash was a Monday and Tuesday washout, then large Wednesday reversal - careful!
Steve, what happened to Kobie?
Unprecedented move in silver
Posted by philosoraptor on 23rd of Sep 2011 at 01:36 pm
Steve, what happened to Kobie? This action is a trader's dream and he is a dream trader...
Matt, your comment is supported
think this sucker punch see ya at 1040 haha!
Posted by philosoraptor on 22nd of Sep 2011 at 03:03 pm
Matt, your comment is supported by weak internals - $TRIN that reaches 4.0 level intraday normally associated with a weak close (according to my own observations). $VOLSPDC ever decreasing.
VWAP
SPX 5 min
Posted by philosoraptor on 21st of Sep 2011 at 01:57 pm
The 'powers-that-be' have kept price below the intraday VWAP (sloping magenta dots) since the volatile opening few minutes - don't be surprised to see a breakout above VWAP around the Fed announcement - however, if so, will it be breakout or fakeout?
Mid-point (horizontal dotted grey line)
Posted by philosoraptor on 19th of Sep 2011 at 10:31 am
Mid-point (horizontal dotted grey line) between S2 and S3 pivots has provided support so far, while intraday VWAP (sloping magenta dots) has provided resistance. Something has to give...
Title: [off topic] Reminds me of
Austrailian Parilament did NOT vote for the expansion of the ...
Posted by philosoraptor on 14th of Sep 2011 at 11:16 am
Reminds me of this Jim Carrey movie clip:
http://www.youtube.com/watch?v=mqVzRD_nWLQ
Title: $TRIN high, weakness into
Posted by philosoraptor on 9th of Sep 2011 at 01:56 pm
$TRIN very high day - it has reached these levels (3.5+) intraday on five other occasions since the sell-off started. On each occasion, price pretty much stayed weak into the close.
The same again today?...
SPY: mid-pivot support again
Posted by philosoraptor on 2nd of Sep 2011 at 02:27 pm
Not sure it's going to hold, but those pesky mid-pivots are again in play - at the moment price is trying to find support at the mid-level between S2 and S3.
Title: Pivot Point mid-levels Like yesterday,
Posted by philosoraptor on 26th of Aug 2011 at 10:37 am
Like yesterday, price bounded so far by pivot point mid-levels (as indicated by two white arrows). Those mid-points in play more and more.
Price stayed below intra-day VWAP
SPX 1 Shows Recent Range
Posted by philosoraptor on 25th of Aug 2011 at 04:06 pm
Price stayed below intra-day VWAP all day. However, during the second half of the session, price stayed between a channel created by pivot mid-points rather than major pivot points. Those mid-points are definitely in play at times.
Also, after a strong day
$SPX 60
Posted by philosoraptor on 24th of Aug 2011 at 01:50 pm
Also, after a strong day in one direction like yesterday, price often chops around the next - consider the intraday VWAP (cyan/magenta dots) today. Yesterday, the bulls were in total control with price remaining above the intraday VWAP all day - today price is oscillating around the VWAP - neither side has managed to gain 'control' yet...
To clarify, solid green rather
SPX Daily (Inverted Hammer Candle)
Posted by philosoraptor on 23rd of Aug 2011 at 09:46 am
To clarify, solid green rather than the normal hollow green. See chart below. The inverse applies to 'false' down days i.e. hollow red candles rather than solid red candles with intraday price action bullish although closing lower than the previous day.
Brian, I completely agree with
SPX Daily (Inverted Hammer Candle)
Posted by philosoraptor on 23rd of Aug 2011 at 09:39 am
Brian, I completely agree with you but would add one small but potentially important detail - yesterday's close was higher than the previous day's close.
Therefore, using TradeStation's 'candlesticks with trend' charting, you get a solid green candle on SPY i.e. a down day intra-day but a higher close than the previous day. In other words, a 'false' up day. Such a nuanced understanding might be significant...
The market(s) move in mysterious
S3 on SPX is at 1147.35 another target level
Posted by philosoraptor on 18th of Aug 2011 at 10:23 am
The market(s) move in mysterious ways...
Perfect bounce off the mid-point
S3 on SPX is at 1147.35 another target level
Posted by philosoraptor on 18th of Aug 2011 at 10:12 am
Perfect bounce off the mid-point for now - but will it hold...