2ndSkiesForex's Blog – June 2011 Archive (6)

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Kumo and 50% Fib Critical to GBPUSD's Reversal

I've been watching the GBPUSD lately and have been tempted (actually did take a long) off the price action triggers off the lows but they have simply underperformed as the pair has been stuck within a 150pip range for the last 4-5 days chopping around with no major signal as to who's in charge - only hints (that the bulls are trying to wrestle control).  However, the Kumo paints a completely different tale as the thickness and trajectory suggest the pair will have trouble with all upside…

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Added by 2ndSkiesForex on June 29, 2011 at 4:53am — No Comments

Forex Trade Setups June 27th

This is from my weekly forex trade setups report using Price Action and Ichimoku techniques which you can read by clicking here.



Look for this every Monday evening around the Tokyo session.



Enjoy!



Chris Capre…

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Added by 2ndSkiesForex on June 28, 2011 at 3:59am — No Comments

Gold entering the Kumo for first time since February!

Spot Gold vs. USD

For the first time since early February, spot gold is entering the daily Kumo which is an interesting prospect.  Since the previous date, it had only 3 glances off the Kumo top but it looks poised to close insde the Kumo which would be an interesting move.  This is coming on the heels of a sharp two day sell off which has taken out the gains for all of June and giving it the lowest print since late May.  This could be a sign of some weakening in the shiny metal since it…

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Added by 2ndSkiesForex on June 24, 2011 at 6:44pm — No Comments

Dow Break of 11830 could exacerbate losses

Looking at the daily chart, we can see how the Dow Industrials Index has spent pretty much all of June below the 20ema except for one day which was two days ago.  Instead of using the 20ema as a launching pad announcing its strength, the 4 day climb has been almost completely wiped out by two days of selling with today's selling being the 2nd largest sell-off for this entire month.  This communicates to use via price action the bears are still in control and the market is not believing the 4… Continue

Added by 2ndSkiesForex on June 23, 2011 at 4:36pm — No Comments

An comical but unique perspective on the Greek financial crisis

http://www.thedailyshow.com/watch/wed-june-22-2011/grecian-burn---credit-default-swaps



Does this make you appreciate the gents at Goldman Sachs even more?



An Introduction

This new blog will be a sharing of technical analysis via my price action, ichimoku and shadow sytems. 



On top of this, I will also be sharing some interesting articles…

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Added by 2ndSkiesForex on June 23, 2011 at 4:19pm — No Comments

Possible bounce in GU but caution is advised

After falling for the last 32 out of 36hrs, the pair has formed a strong pbar off the 1.5937 level which comes on the heels of the london session closing.  This could provide a short term bounce for the pair with the liquidity drop and a possible return to 1.6080 levels.  But be careful considering how strong and consistent the selling has been.  …



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Added by 2ndSkiesForex on June 23, 2011 at 4:15pm — No Comments

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