When we add our channel and s/r analysis together, this is what we get:
Our channel analysis showed the larger market moving within an elongated wedge. Our s/r studies on the smaller time framed identified the wedge and break-out trend patterns that were / are occurring within the larger wedge.
Both have framed the market and given us a perspective from which we can identify the underlying market dynamics at this time.
Trade Set-Ups
Doing this process has also identified some potential trade opportunities.
Note that while setting up the chart and doing my analysis I extended all the trend lines and s/r’s forward. These show us where we could again expect to see potential support and resistance from the market.
Opportunities exist when an s/r is broken, for a move to the next s/r. Once the chart is set-up it almost becomes obvious as to what to do. (Note red arrows – bases of arrows sit at technical
entries and point to the potential move).
If the market falls off, we have several technicals that identify support and resistance. When one is broken, we could expect a move down to the next, and so on. Dropping down to an even smaller time frame when the market reaches each of those technicals can help assist in determining if the market will bounce or break to the next s/r.
This analysis offers some guidance if the market breaks to the up-side, however other techniques would also be recommended to find the significant s/r’s that exist between the current market and top red channel s/r.
Conclusion
Keep it simple. Note that nothing I have done is extremely difficult. I have simply Framed the market or defined the significant supports and resistances. Once this has been done, what is occurring becomes clearer; and how you can take advantage of it becomes obvious.
Thank-You
& Good Trading!
Andrew J.D. Long, MFTA
www.triggers.ca
Article from TRIGGER$ June 2015 Free Public Edition
Our channel analysis showed the larger market moving within an elongated wedge. Our s/r studies on the smaller time framed identified the wedge and break-out trend patterns that were / are occurring within the larger wedge.
Both have framed the market and given us a perspective from which we can identify the underlying market dynamics at this time.
Trade Set-Ups
Doing this process has also identified some potential trade opportunities.
Note that while setting up the chart and doing my analysis I extended all the trend lines and s/r’s forward. These show us where we could again expect to see potential support and resistance from the market.
Opportunities exist when an s/r is broken, for a move to the next s/r. Once the chart is set-up it almost becomes obvious as to what to do. (Note red arrows – bases of arrows sit at technical
entries and point to the potential move).
If the market falls off, we have several technicals that identify support and resistance. When one is broken, we could expect a move down to the next, and so on. Dropping down to an even smaller time frame when the market reaches each of those technicals can help assist in determining if the market will bounce or break to the next s/r.
This analysis offers some guidance if the market breaks to the up-side, however other techniques would also be recommended to find the significant s/r’s that exist between the current market and top red channel s/r.
Conclusion
Keep it simple. Note that nothing I have done is extremely difficult. I have simply Framed the market or defined the significant supports and resistances. Once this has been done, what is occurring becomes clearer; and how you can take advantage of it becomes obvious.
Thank-You
& Good Trading!
Andrew J.D. Long, MFTA
www.triggers.ca
Article from TRIGGER$ June 2015 Free Public Edition
Andrew J.D. Long, MFTA
MATASII.com
MATASII.com
