This blog is a journal of charts on ASX stocks in various point in time. You might find charts on Major forex pairs,Nasdaq and SGX stocks as well.It reflects the author personal view. Its neither advisory or invitation to trade. All done in the interest and passion for the market, trading, technical analysis and elliot wave. And to exchange view, opinions with traders worldwide. .
Personal Favourite links
tweet
Wednesday, December 15, 2010
AudJpy : Price/Stochs Vearish Divergence : 2hourly chart
Prices has poped out of trend channel.
A Triangle roof has been formed.
Looking like a head and shoulder reversal on the 2hourly chart.
What that means is Jpy will strengthen and Aussie weakened.
The only thing not to like is stochs is on the low side
But itself also out of the triangle besides also forming a bearish divergence to price.
Taking the cue from moving averages, as long as price stays below that.
Anticipatiing a break of the neckline.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment