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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 2338
Forum Topic:

USD

Discuss USD
 
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DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Jan 5, 2011 22:02
The Wave 5 starts at the 28th May low at 0.8065
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Jan 5, 2011 22:00
You only need to look back to the Oct 08 low to decide whether the move up is finished. Its a 5 wave series. Is the 5th wave finished ?
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Jan 5, 2011 21:52
Good practice is to start with looking at monthly timeframe chart, then drop down to weekly timeframe, then to daily timeframe, then to 4 hour or 1 hour timeframe. That provides you with the larger perspective first and then working down to more immediate tradeable perspectives.
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Jan 5, 2011 21:48
Important to talk universal language of analysts. Hourly chart or 60 min chart, Daily chart, Weekly chart, Monthly chart = one hour candles, one day candles, one week candles, one month candles. These are all known timeframes for chart referencing across the globe. Always state if you are looking at 60 min (or one hour) timeframe regardless of how many weeks or months you are looking back. Likewise sate if you are referncing daily timeframe or weekly timeframe etc, then comment on what you are referencing on the chart.
chloethebull
halifax, Canada
Posts: 1183
13 years ago
Jan 5, 2011 21:39
now dave when i change 1yr & 6mth to weekly candles it tells a different story to me,uptrend with sideways trading.does daily/weeklys carry more credit when trying to figure out direction of trend?thanks
chloethebull
halifax, Canada
Posts: 1183
13 years ago
Jan 5, 2011 21:25
even the 3mth-1hr shows a nice double top but the 1st top held it longer an didnt fall as sharp but 2nd was able to rise higher but fell alot sharper does this represent anything?thanks dave:)
chloethebull
halifax, Canada
Posts: 1183
13 years ago
Jan 5, 2011 21:10
my 1yr-6mth candles are day an my mth are hourly..gl:)
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Jan 5, 2011 21:02
Chloe, when you refer to one month chart are you meaning each candle is 1 month i.e monthly chart. Likewise do you mean one year chart is each candle is one year ?

Or are you referencing daily chart timeframe where each candle is one day but you are looking back for 6 months or one year ?
chloethebull
halifax, Canada
Posts: 1183
13 years ago
Jan 5, 2011 20:54
after looking @6mth 1yr chart the audusd looks to be in a serious uptrend as well lol..when i look @ the 1yr i see a possible double top do u see the same?thank gl:)
chloethebull
halifax, Canada
Posts: 1183
13 years ago
Jan 5, 2011 20:49
yes i hate when markets get confussing..but looking @1mth chart audusd looks like its in a serious downtrend 1.000 support looks to be tested today if no hold next stop looks to be 9880-9780..if 9500 doesn;t hold could we free fall to 8900-9000 level?thanks gl:)
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