Friday, 17 March 2017

EURUSD historical charts back to before the Euro (ECU) before some of you were born and COMEX Copper ( K17)












Remember: "Everything in the universe moves in a rhythmn. Nothing happens at random. The underlying factors are, in their turn, subject to the same rythymns as the final product.
The whole is not the sum of the parts, but both the whole and parts labor under the same influences".
George Lindsay- Market Analyst. (1906-1987)

 





Thursday, 16 February 2017

Comex Copper update


Expect retracement of 50% of recent move and watch for support of the centre line of green PF ABC at around 270.00. It may dip to the CL of  PF 2BC ( not drawn or shown) which would be around the FIB .618 level. Recent fundamentals in Chile will add volatility to price- so we will need to see the next sessions price action consolidating around the arrow shown above.

Tuesday, 24 January 2017

Comex Copper (H17) afternoon trade update


 Well, Nice! Its great when things go right! ( its not always like this and we often lick our wounds and nurse our egos on a regular basis but hopefully live to trade another day ). I really didnt expect this breakout to happen so soon and we have seen a text book setup for a reaction line trade. There is no doubt that we will see a further attempt at the upside today but expect we will see a lower high ( previous high 271 area)



 Note below the chnage in line location as we drop down to the 30 min time frame




now look when we dropdown to15 mins.... line location. How can a line be in two places at once. The truthis what i have often discussed on this site
Each line is located in a different position in each time frame.This is becuase we are missing a dimension on our X & Y axis charts... take a look

Comex Copper ( H17)


 Lets see what the US session brings.WE have rising support at 263.00 but i am not content to get long here as we have a down sloping RL that may bring price back. However if we see new highs i am prepared to go long on stop around the 265.80 area with a stop below close of 4 hr bar ( 264.00 area) and the reaction line breakout rules apply to this trade. A break and close below the blue upsloping ML will mean a return to the thin green horizontal ML's seen around 256.00 and below.

Wednesday, 30 November 2016

Comex copper... do you remember this setup?

This is what i wrote in previous post on the 11th Nov
 The setup
Here is the one hour chart. There are many possible paths for price but we are interested in getting a long position after price has found support on the organic sup/res offered by historical ML's. The fat black ML is seen here at just above 246.00... expect a dip below as price is fluid mechanically. A nice relatively tight stop can be used but timing is critical and our advanced study template has much more market structure revealed with some 27 PF since 2002! Price may retrace to 235 area in which case we will also pick up a few longs there. ( which is a .618 Fib level).... remember " fools rush in where angels fear to tread"... wait and watch and let time progress. we need more bars and price ation before this takes off and we may move sideways in cosolidation range for weeks. Remember that this is only a 2 PF study and please read my work and empircal study on horizontal MLs and reaction lines.
http://medianlinetrader.blogspot.fr/p/blog-page.html


And lets see how things panned out shall we? Remeber we have rolled over from Dec 16 contract to March 2017 so allow for some price distortion....





 Take a look at the horizontal organic ML's as zones of support and resistance... The bottom line is that you couldnt have gone far wrong here.

UPDATE 1st Dec.. Charts below:





 with reaction lines added give it a clear context
and lets not forget crude but please foget the OPEC hysteria and look at the second reaction line from the black PFset/ medianline



 

Friday, 11 November 2016

Comex Copper ( Dec 16)..Plus Emini Dow ( DJ Z16)

There are alot of things i could say about the US elections but the simple satisfaction of winning a bet ( Re Trump Vs Clinton) with my wife will suffice. This comes on top of Brexit in June.... it's just a shame i am not a betting man ! The " Holy Trinity" will be completed when the third happens -Boris Johnson becomes PM. With this last one we must remember the maxim: "Softly,softly catchy monkey". I only hope i am around to see it.
On a serious note we have seen some superb price action in the Dow. Of course we now are seeing new all time highs but what is impressive is these simplePF's.... Mind the Gap!!


 Copper: Basic two ML study with RL's inserted by auto indicator: remember my work on horizontal organic support and resistance?



 The setup
Here is the one hour chart. There are many possible paths for price but we are interested in getting a long position after price has found support on the organic sup/res offered by historical ML's. The fat black ML is seen here at just above 246.00... expect a dip below as price is fluid mechanically. A nice relatively tight stop can be used but timing is critical and our advanced study template has much more market structure revealed with some 27 PF since 2002! Price may retrace to 235 area in which case we will also pick up a few longs there. ( which is a .618 Fib level).... remember " fools rush in where angels fear to tread"... wait and watch and let time progress. we need more bars and price ation before this takes off and we may move sideways in cosolidation range for weeks. Remember that this is only a 2 PF study and please read my work and empircal study on horizontal MLs and reaction lines.
http://medianlinetrader.blogspot.fr/p/blog-page.html