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Thread: Point and Figure Charting in Forex

  1. #21

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    The pound reversed below the new support level at $1.53, warning of a bull trap.
    Expect another test of $1.48.
    Recovery above $1.53, however, would signal a rally to $1.60, confirmed if the declining trendline is broken.

    "P&F GBPUSD1440 Box Size 250X3 or(4.33%) HI/LO
    Data 2.1161 - 1.3502 ~ 91 Month ~ 2797 Day
    Database 2000 records 1.52649 (Last Close)
    2002-09-02 00~00
    2010-04-30 00~00 (GMT+01:00) Paris
    BJF Trading Group chart"



    BJF-Trading-Group_Excel_Chart
    BJF Trading Group|FOREX MetaTrader Expert Advisors

  2. #22

    Default

    USDJPY is currently trading 94.70 levels. A break above 94.30(2 days close), we could target 97-98 levels. Weekly close above 92 levels has increased chances for a bearish move for the yen currency. Importers hold for medium term covers. (USDJPY- 94.70). Long Term (3-6 months) target 98 and higher.We just need a conistent break of 94.30 to make thes happen.

    "P&F USDJPY1440 Box Size 140X4 or(5.32%) HI/LO
    Data 125.75 - 84.819 ~ 92 Month ~ 2800 Day
    Database 2000 records 94.26 (Last Close)
    2002-09-04 00~00
    2010-05-05 00~00 (GMT+01:00) Paris
    BJF Trading Group chart"




    BJF-Trading-Group_Excel_Chart
    BJF Trading Group|FOREX MetaTrader Expert Advisors

  3. #23

    Default

    Since the middle of March, the GBP/CHF has been gaining along a bullish Fibonacci fan. After crossing the horizontal resistance around 1.6645, the pair reached the upward resistance line. If the pair does not pass the bullish resistance line, we might see a pull-back downside, where we have the support levels.

    "P&F GBPCHF1440 Box Size 30X3 or(4.49%) HI/LO
    Data 2.4965 - 1.511 ~ 93 Month ~ 2808 Day
    Database 2000 records 1.61685 (Last Close)
    2002-08-29 00~00
    2010-05-07 00~00 (GMT+01:00) Paris
    BJF Trading Group chart"

    2.4900|~3OO||__________X__________________|0.26%|6 4.79%
    2.4600|~6OO||______XoXoXo_________________|1.46%|6 2.81%
    2.4300|~9OO||______XoX_Xo_________________|2.66%|6 0.82%
    2.4000|~12OO|______XoX__o_________________|3.87%|5 8.84%
    2.3700|~15OO|____X_XoX__o_________________|5.07%|5 6.85%
    2.3400|~18OO|X___XoXo___o_________________|6.27%|5 4.86%
    2.3100|~21OO|Xo__XoX____o_________________|7.47%|5 2.88%
    2.2800|~24OO|_o__XoX____o_________________|8.67%|5 0.89%
    2.2500|~27OO|_oX_XoX____o_________________|9.87%|4 8.91%
    2.2200|~3OOO|_oXoXoX____o_________________|11.08%| 46.92%
    2.1900|~33OO|_oXoXoX____o_________________|12.28%| 44.94%
    2.1600|~36OO|_oXo_o_____o_________________|13.48%| 42.95%
    2.1300|~39OO|_oX________o_________________|14.68%| 40.97%
    2.1000|~42OO|_o_________o_________________|15.88%| 38.98%
    2.0700|~45OO|___________oX________________|17.08%| 37%
    2.0400|~48OO|___________oXo_______________|18.29%| 35.01%
    2.0100|~51OO|___________oXo_______________|19.49%| 33.02%
    1.9800|~54OO|___________oXoX______________|20.69%| 31.04%
    1.9500|~57OO|___________o_oXo_____________|21.89%| 29.05%
    1.9200|~6OOO|_____________oXo_____________|23.09%| 27.07%
    1.8900|~63OO|_____________o_oX____________|24.29%| 25.08%
    1.8600|~66OO|_______________oXoX__________|25.5%|2 3.1%
    1.8300|~69OO|_______________oXoXo_________|26.7%|2 1.11%
    1.8000|~72OO|===============oXoXo====X====|27.9%|1 9.13%
    1.7700|~75OO|_______________o_o_o____Xo___|29.1%|1 7.14%
    1.7400|~78OO|___________________o__X_Xo___|30.3%|1 5.16%
    1.7100|~81OO|___________________o__XoXoX__|31.5%|1 3.17%
    1.6800|~84OO|===================oX=XoXoXoX|32.71%| 11.18%
    1.6500|~87OO|___________________oXoXoXoXoX|33.91%| 9.2%
    1.6200|~9OOO|___________________oXoXoXo_oX|35.11%| 7.21%
    1.5900|~93OO|===================oXo=o===o=|36.31%| 5.23%
    1.5600|~96OO|___________________oX________|37.51%| 3.24%
    1.5300|~99OO|===================o=========|38.71%| 1.26%
    1.5000|~1O2O|_____________________________|39.92%|-0.73%
    Column|||||||28537715412146374431535576343|
    Count||||||||______O____8_______1_________|




    BJF-Trading-Group_Excel_Chart
    BJF Trading Group|FOREX MetaTrader Expert Advisors

  4. #24

    Default

    After crossing the bearish trend line inside the upward trend channel, the NZD/USD pulled back from its horizontal resistance line around 0.7310. It was the markets' fifth touch with the lower line of the channel before it recovered back to its current price. If the market breaks the horizontal resistance around 0.7310, we might see further gains. Otherwise, it might continue its bullish zigzag phase inside the bullish channel.

    "P&F NZDUSD1440 Box Size 125X3 or(5.83%) HI/LO
    Data 0.8214 - 0.4644 ~ 93 Month ~ 2811 Day
    Database 2000 records 0.71823 (Last Close)
    2002-08-30 00~00
    2010-05-11 00~00 (GMT+01:00) Paris
    BJF Trading Group chart"



    BJF-Trading-Group_Excel_Chart
    BJF Trading Group|FOREX MetaTrader Expert Advisors

  5. #25

    Default

    Trade Idea: EURNZD - Sell at 1.800 Target: 1.6400, Stop: 1.8200
    =============================================
    We are going into a period of potentially unusual price action at the beginning
    of the week. An extended holiday for US, UK and New Zealand markets will warp
    liquidity which could lead to untimely breakouts or simply a drop back into
    congestion bands. This presents significant risk to all range-based strategies;
    but EURNZD may have a better grounding for holding its congestion.

    "P&F EURNZD1440 Box Size 300X3 or(4.27%) HI/LO
    Data 2.5792 - 1.6343 ~ 84 Month ~ 2562 Day
    Database 1833 records 1.7729 (Last Close)
    2003-05-07 00~00
    2010-05-12 00~00 (GMT+01:00) Paris
    BJF Trading Group chart"



    BJF-Trading-Group_Excel_Chart
    BJF Trading Group|FOREX MetaTrader Expert Advisors

  6. #26

    Default

    Trade Idea: USDCHF - Sell at 1.1120 Target: 1.0920, Stop: 1.1200
    ===============================================
    The pair is still fluctuating around pivotal resistance 1.1120; whereas the bullish technical pattern is still intact and awaits a start signal that will be achieve through building a base above 1.1120. MA 50 is supporting the pair to move to the upside, therefore we expect a bullish intraday trend that targets 1.1250 1.1290 and requires the four hour close above 1.1050.

    "P&F USDCHF1440 Box Size 200X3 or(4.83%) HI/LO
    Data 1.5176 - 0.9644 ~ 92 Month ~ 2787 Day
    Database 2001 records 1.1172 (Last Close)
    2002-09-26 00~00
    2010-05-14 00~00 (GMT+01:00) Paris
    BJF Trading Group chart"

    1.5200|~2OO||_____________________________________ _______________|-0.16%|57.61%
    1.5000|~4OO||o____________________________________ _______________|1.16%|55.54%
    1.4800|~6OO||o____________________________________ _______________|2.48%|53.46%
    1.4600|~8OO||o____________________________________ _______________|3.8%|51.39%
    1.4400|~1OOO|o_____+______________________________ _______________|5.11%|49.32%
    1.4200|~12OO|o_____x_+____________________________ _______________|6.43%|47.24%
    1.4000|~14OO|o_x___x_o_+__________________________ _______________|7.75%|45.17%
    1.3800|~16OO|o_x_o_x_o_x_+________________________ _______________|9.07%|43.09%
    1.3600|~18OO|o_x_o_x_o_x_o_+______________________ _______________|10.38%|41.02%
    1.3400|~2OOO|o___o_x_o_x_o___+_____________+______ _______________|11.7%|38.95%
    1.3200|~22OO|____o_x_o___o_x___+_______x___x_+____ _______________|13.02%|36.87%
    1.3000|~24OO|____o_x_____o_x_o___+_x___x_o_x_o_+__ _______________|14.34%|34.8%
    1.2800|~26OO|____o_______o_x_o_____x_o_x_o_x_o___+ _______________|15.66%|32.73%
    1.2600|~28OO|____________o_x_o_____x_o_x_o_+_o_x__ _+_____________|16.97%|30.65%
    1.2400|~3OOO|____________o_x_o_____x_o___+___o_x_o ___+___________|18.29%|28.58%
    1.2200|~32OO|____________o___o_x___x___+_____o_x_o _____x_________|19.61%|26.5%
    1.2000|~34OO|________________o_x_o_x_+_______o___o _____x_o_______|20.93%|24.43%
    1.1800|~36OO|________________o_x_o_x_____________o _____x_o_x_____|22.25%|22.36%
    1.1600|~38OO|________________o_x_o_______________o _____x_o_x_o___|23.56%|20.28%
    1.1400|~4OOO|________________o_+_________________o _x___x_o_x_o_+_|24.88%|18.21%
    1.1200|~42OO|________________+___________________o _x_o_x_o_x_o_x_|26.2%|16.13%
    1.1000|~44OO|____________________________________o _x_o_x_o_x_o_x_|27.52%|14.06%
    1.0800|~46OO|____________________________________o _x_o___o_x_o_x_|28.84%|11.99%
    1.0600|~48OO|____________________________________o _x_____o_x_o_x_|30.15%|9.91%
    1.0400|~5OOO|____________________________________o _x_____o___o_x_|31.47%|7.84%
    1.0200|~52OO|____________________________________o _x_________o_x_|32.79%|5.77%
    1.0000|~54OO|____________________________________o _x_________o_+_|34.11%|3.69%
    0.9800|~56OO|____________________________________o ___________+___|35.42%|1.62%
    0.9600|~58OO|_____________________________________ _______________|36.74%|-0.46%
    Column|||||||9_3_6_7_5_3_8_5_9_4_3_7_3_4_3_3_6_3_1 _8_3_7_9_7_9_6_|
    Count||||||||____________________________________4 _______________|




    BJF-Trading-Group_Excel_Chart
    BJF Trading Group|FOREX MetaTrader Expert Advisors

  7. #27

    Default

    Trade Idea:EUR/USD - Buy-stop at 1.2650 Target: 1.2800 ; Stop: 1.2575
    ================================================== ====================
    Price action on EUR/USD, a chart of which is shown, has just broken down swiftly below the key 1.2500 support level, establishing a new 18-month low and lending a significant additional bearish bias to this strongly downtrending currency pair.
    A continuation of the steep overall downtrend has now been confirmed, with price currently targeting a key downside support target in the 1.2300 price region.
    Any substantial breakdown below 1.2300 could potentially begin to target the technically- and psychologically-important 1.2000 level, which is also around a 161.8% Fibonacci extension of the most recent bearish run.
    The broken 1.2500 level should now serve as tentative upside resistance within the context of the strong current downtrend.


    "P&F EURUSD1440 Box Size 200X3 or(4.68%) HI/LO
    Data 1.6038 - 0.9607 ~ 92 Month ~ 2796 Day
    Database 2000 records 1.23566 (Last Close)
    2002-09-17 00~00
    2010-05-14 00~00 (GMT+01:00) Paris
    BJF Trading Group chart"



    BJF-Trading-Group_Excel_Chart
    BJF Trading Group|FOREX MetaTrader Expert Advisors

  8. #28

    Default

    Trade Idea: GBP\JPY - Sell-Limin at 133.20; Target: 126.10 ; Stop: 135.00
    ================================================== =======================
    The GBPJPY attempted to push higher yesterday, topped at 134.79 but whipsawed to the downside, bottomed at 131.82 and hit 130.40 earlier today in Asian session. The bias is bearish in nearest term testing 129.89 area. However price is already in oversold area so watch out for potential upside correction testing 133.00 resistance area. Break above that area could lead us into no trading zone as direction would become unclear but the main scenario remains to the downside and I still prefer short on rallies strategy at this phase.

    "P&F GBPJPY1440 Box Size400X3 or(6.49%) HI/LO
    Data 251.09 - 118.785 ~ 92 Month ~ 2812 Day
    Database 2001 records 131.555 (Last Close)
    2002-09-06 00~00
    2010-05-19 00~00 (GMT+01:00) Paris
    BJF Trading Group chart"



    BJF-Trading-Group_Excel_Chart
    BJF Trading Group|FOREX MetaTrader Expert Advisors

  9. #29

    Default

    Trade Idea:EUR/GBP - Sell Limit at 85.30 Target: 84.00 ; Stop:86.10
    ==========================================
    The royal pair closed negatively yesterday below the initial support levels-turned into resistance at 0.8605-. Consequently, it might retest the broken downtrend line of the descending channel before resuming the bullishness, which is based on the suggested double bottom formation. We are not sure that the above mentioned trend line could assist the pair to consolidate once more as the indicators shows consecutive negative signs. Thus, we need more confirmation and therefore our outlook will be neutral until we see a stable move above 0.8605 zones.
    The trading range for today is among the key support at 0.8420 and key resistance now at 0.8720

    "P&F EURGBP1440 Box Size 120X3 or(4.49%) HI/LO
    Data 0.9799 - 0.6244 ~ 92 Month ~ 2808 Day
    Database 2000 records 0.85229 (Last Close)
    2002-09-16 00~00
    2010-05-25 00~00 (GMT+01:00) Paris
    BJF Trading Group MDunleavy chart"

    0.9840|~12O||____________________________________|-0.42%|57.59%
    0.9720|~24O||________________x___________________| 0.81%|55.67%
    0.9600|~36O||________________x_o_____+___________| 2.03%|53.75%
    0.9480|~48O||________________x_o_x___x_+_________| 3.26%|51.83%
    0.9360|~6OO||________________x_o_x_o_x_o_x_______| 4.48%|49.9%
    0.9240|~72O||________________x_o_x_o_x_o_x_o_____| 5.7%|47.98%
    0.9120|~84O||________________x_o_x_o_x_o_x_o_x___| 6.93%|46.06%
    0.9000|~96O||________________x_o_x_o_x_o_x_o_x_o_| 8.15%|44.14%
    0.8880|~1O8O|________________x_o___o_x_o_x_o_x_o_| 9.38%|42.22%
    0.8760|~12OO|________________x_____o_x_o_x_o_x_o_| 10.6%|40.29%
    0.8640|~132O|____________x___x_____o___o_x_o___o_| 11.83%|38.37%
    0.8520|~144O|============x=o=x=========o=======o=| 13.05%|36.45%
    0.8400|~156O|____________x_o_x___________________| 14.28%|34.53%
    0.8280|~168O|____________x_o_____________________| 15.5%|32.61%
    0.8160|~18OO|________x___x_____________________+_| 16.73%|30.69%
    0.8040|~192O|________x_o_x___________________+___| 17.95%|28.76%
    0.7920|~2O4O|________x_o_x_________________+_____| 19.18%|26.84%
    0.7800|~216O|________x_o_________________+_______| 20.4%|24.92%
    0.7680|~228O|________x_________________+_________| 21.62%|23%
    0.7560|~24OO|________x_______________+___________| 22.85%|21.08%
    0.7440|~252O|________x_____________+_____________| 24.07%|19.15%
    0.7320|~264O|________x___________+_______________| 25.3%|17.23%
    0.7200|~276O|x_______x_________+_________________| 26.52%|15.31%
    0.7080|~288O|x_o_x___x_______+___________________| 27.75%|13.39%
    0.6960|~3OOO|x_o_x_o_x_____+_____________________| 28.97%|11.47%
    0.6840|~312O|x_o_x_o_x___+_______________________| 30.2%|9.55%
    0.6720|~324O|x_o_x_o_x_+_________________________| 31.42%|7.62%
    0.6600|~336O|x_o___o_+___________________________| 32.65%|5.7%
    0.6480|~348O|x_____+_____________________________| 33.87%|3.78%
    0.6360|~36OO|x___________________________________| 35.1%|1.86%
    0.6240|~372O|____________________________________| 36.32%|-0.06%
    Column|~384O|8_5_4_4_1_3_7_3_1_7_5_7_7_8_7_6_4_5_|
    Count||~396O|________3_______2___________________|




    BJF-Trading-Group_Excel_Chart
    BJF Trading Group|FOREX MetaTrader Expert Advisors

  10. #30

    Default

    Trade Idea: AUD/JPY - Buy Stop at 77.00;Target: 81.50 ; Stop: 76.00.
    ================================================== =============
    After reaching its highest level in the last week, the AUD rebounded at its resistance around 77.36. The currency pair has begun its bearish trend in the middle of May. Now it could be that the AUD will continue its downfall. Next support to stop the trend is may be around 75.46. Nevertheless, I think need to buy!

    "P&F AUDJPY1440 Box Size 175X3 or(6.44%) HI/LO
    Data 107.86 - 55.11 ~ 33 Month ~ 1015 Day
    Database 720 records 76.839 (Last Close)
    2007-08-20 00~00
    2010-05-31 00~00 (GMT+01:00) Paris
    BJF Trading Group chart"


    BJF-Trading-Group_Excel_Chart
    BJF Trading Group|FOREX MetaTrader Expert Advisors

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