Support, Resistance & Chart patterns

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A couple more chart analyses, comments welcome as always....

Edit a couple days later: I guess if the Fed's going to go on another money printing spree we can forget about shorting currencies paired with the USD Seriously though, the danger signs were (and are) there in the chart patterns - but unless there's confirmation in the form of an actual direction change then its foolish to trade against the existing trend.

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An update on AU...

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... and another. Bearishness is over for now.

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Today's intraday trading on EU. You might note that I'm back to manually drawing supply/demand zones as a result of slowly learning & applying Seiden methods of identifying them. Its really not hard to do, doesn't take long either. Note the lack of indicators - no OBV or other oscillator, no Murray Math, trying to simplify things as much as possible.

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Here's another trade I took on EURAUD, did not trade this perfectly as noted in the chart, but the setup was there.

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AU updated again, trying to improve my identification of supply/demand zones as its key to reading possible reversal areas correctly. Like EU and GU this is hanging in the balance, coming after a sustained rise & up where its reversed from previously - will it reverse down again or break through and continue to rise?

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Stepping away from forex for a moment, take a look at the weekly view of the S&P 500:-

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Would have posted this 10 hours ago except it was late & I needed sleep. Trade currently running on AU ... edit: and closed for 95 pips gain. I'm finding Seiden's supply/demand levels to be much more effective than the traditional ones, allowing very aggressive trade entries. I do hope this stuff's of value to someone here. I've been looking for a group of like-minded traders to discuss entries & developing setups with, but no luck so far

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Another setup on GBPJPY, this time for a long. Might not work, but it meets all the rules and the risk-reward ratio is good.

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Well, GJ didn't deliver due to the Yen's continued strengthening on Thursday while the pound rallied. Funny thing is it still might work as the Yen finished Friday softer & is primed for a reveral of its own based on its trading range.

There were superb entries on GU, EU and AU, both long and short. I'd be happy to post them if anyone's interested.