Swing Trading Software for Trading Currencies.
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Currency Trading – Reversal dates project major turning points in Canadian dollar.
The Canadian dollar formed a bearish TR swing pattern after posting a major high on the April 22nd reversal date and turned lower in front of the May 6th meltdown and subsequent drop to 9293. The “loonie” rebounded from the low and traded higher into the May 12th reversal swing date, closed inside the 60% sell window and tested the 20- day SMA. This price action formed a potential bearish TC pattern with trigger price below the price bar that entered the 60% sell window and triggered the sell when the market passed through .9717. This is just one example of the potential provided by understanding “action-reaction” price action in conjunction with the reversal date trading technique. Using the “action-reaction” time/price projection methodology I was able to identify a major reversal timing on April 22, followed by the high of the corrective rebound on May 12…days in advance.
June Canadian dollar
Swing Trading Strategies by John Crane – Reversal date pinpoint reversal in Swiss Franc. [chart]
The reverse-forward count, from the TR swing pattern (March 17 – April 4), was used to project a future reversal swing date on May 6th. The “action-reaction” line also forecast a price target objective at the intersection of the down-sloping median line and the up-sloping reaction line (8920). The Swiss franc breached the target objective on the predicted date and quickly reversed and surged higher. You can also learn to use the “action-reaction” methodology used to make this type of time and price projections in “Unlocking Wealth, Secret to Market Timing.
June Swiss Franc
New swing patten triggers selling opportunity in Japanese yen.
Tuesday’s one-day rally stopped short by the 20- day SMA and the down-sloping reaction line. The yen reversed at the two levles of resistance and resumed the dominate downward trend. This should set the stage for the next swing lower into the May 6th reversal swing date.
June Japanese yen
Canadian dollar approaching parity [chart]
Canada’s dollar once again approached parity with its U.S. Dollar after Finance Minister Jim Flaherty said the currency’s rise has been “orderly” and reflects the country’s good fiscal position. This has effectively ended the three-day pullback to the median line and set up a new bullish reaction swing pattern. I look for the market to continue higher into the April 15th reversal swing date.
June Canadian dollar
Short swing trade for Yen has reached the median line target objective! [chart]
The sell recommendation made in the March 24, issue of the Traders Market Views was triggered at 1.1019 in the overnight session. The market has contnued to trade lower under heavy pressure and has reached the descending median line target objective at 1.0879. This is the initial target objective and typically offers support after a wide range day. This is a good place to step out of the trade, bank the nice one-day gain and wait for a bounce to form a new reaction swing sell pattern.
June Japanese yen
Swing trading opportunity setting up for June Swiss franc [chart]
June Swiss franc – The Swiss franc is beginning to exhibit a show of strength on speculation that the central bank will begin relaxing a year-old policy of selling the currency to curb its strength. The market has formed a bullish reaction swing with a retest of the 20-day SMA on Monday. This is a potentially bullish “setup” with a trigger price at .9527. A confirmation of this reaction swing could also mark the end of the longer-term A-B-C continuation pattern and the beginning of a new bullish leg. Check the latest issue of the Traders Market Views Swing Trading report for current recommendations.
June Swiss franc
Dollor turns lower after reaching reaction line on reversal date!
The Dollar index began to show weakness when it moved away from the ascending median line. However, it was not until the Dollar reached the sloping reaction line target objective on the February 23rd reversal date that the bullish cycle was complete. A retest of the reaction line on Wednesday failed and the market turned lower. I look for the trend to shift over the next few days and form a possible TR swing pattern and selling opportunity.
March Dollar index
Reversal date projects time/price high for Yen rally.
The March Japanese yen has just completed a 5-wave continuation pattern, inside the longer-term downward trend. This type of pattern in a mid-trend pattern and suggests downward trend should continue over the long-term, but right now I want to talk about the 5-wave pattern just completed.
The upward swing began on December 31, after a failed swing pattern formed a new A-B pattern. The Yen rallied off this low and formed a (C) to (D) reaction swing between 1/15 and 1/20, just above the 20- day SMA. This swing pattern was the balancing point of the upward swing (where the action segment ends and the reaction segment begins) and could have been used to pinpoint the time and price of the subsequent price move. This was done with reverse count from 1/15 to the beginning of the cycle (marked as A). The count equaled 11 days. That number was used to make the forward projection of time and price by projecing forward 11 days from 1/20 (marked as D). February 24th was the projected reversal date and the end of the cycle with a initial target objective at the sloping reaction line.
As the February 24th reversal date approached it look dim for the time/price projection as the market drifted lower into February 24th. On the reversal swing day, the market surged to a new high and peaked on the projected date. The short-term corrective swing was complete and the market turned lower, to resume the prevailing trend. The long-term bearish cycle should continue into end of the cycle projected for mid March. I’ll have more on the longer-term downward trend, with time and price projections later.
March Japanese yen
Time and Price objectives for short British pound swing trade. [chart]
The British pound broke support and triggered the sell suggested by the January 26th bearish reversal swing date. The market has now moved out of a A-B-C continuation pattern and resumed the longer-term downward trend. The next reversal swing date is projected for February 3 with a target objective at 1.5825. I will keep you updated of any changes in the TMV Swing Trade report.
March British pound
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