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Welcome and thank you for visiting!

The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

N.B.
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...

Dots

...If the dots don't connect, gather more dots until they do...or, just follow the $$$...

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*** Click here for link to Economic Calendars for all upcoming events

IMPORTANT BLOG POST UPDATES...
* Trade Wars have escalated and now include diplomatic wars PLUS President Trump is cannibalizing prior U.S. market gains with his tariff tantrums against its world trading partners, while destabilizing a delicate world market balance

Saturday, June 11, 2011

Weekly Fib Confluence on YM, ES, NQ & TF...Weekly close on EUR/USD...

My post on June 4 mentioned a 23.6% Fibonacci retracement level on the Weekly charts of YM, ES, NQ & TF which falls within a Fibonacci confluence zone: http://strawberryblondesmarketsummary.blogspot.com/2011/06/really-big-pictureym-es-nq-tf.html

Here is how these 4 e-minis closed on the week:


As can be seen, they may indeed be on their way to this confluence zone...and/or their weekly 50sma (red).

Further to my posts on June 9 and May 29 on EUR/USD, price closed down on the week at the POC of the June Monthly TPO Profile and is backtesting the downtrend line (which has been in place since July 2008) for a second time since breaking out above it in May of this year as shown on the Weekly chart below. Price also closed just above the +1 deviation of a major downtrending regression channel. This appears to be an important support level and the action next week should be interesting.


"Every time I start thinking too much about how I look,
I just find a pub with a Happy Hour
and by the time I leave,
I look just fine."
Author--Anonymous