Analytical reviews by Harsh Japee: discussions and questions to the author

[Harsh Japee]

Technical Outlook and Chart Setups:
We are very close to the consolidation line of resistance passing through 1610.00 level at this moment. As we discussed the wave structure yesterday, gold might probably be in its 3rd wave up and now we have enough proof to it. We expect a thrust breakout in the coming sessions towards 1700 level. It is hereby recommended to stay long from yesterday’s position and build on it during intraday dips. A break of 1610/20 levels, shall move the yellow metal very fast.
Trading Recommendations:
Stay long, breakout awaited, minimum expectations are 1700.00

Good Luck!

---------- Post added at 07:03 PM ---------- Previous post was at 07:00 PM ----------





Technical Setup and Chart Setups:
As we can see, silver is already breaking out and a bullish candle today shall confirm it further. Otherwise, there is no much change in the bullish structure. Support remains strong at 26.50 level and immediate resistance is placed at 28.00 level. The swing structure recommends a target near at least 30.00 level. Stay long for now.
Trading Recommendations:
Stay long for now, build on intraday dips, and target 30.00

Good Luck!

---------- Post added at 07:08 PM ---------- Previous post was at 07:03 PM ----------





Technical Outlook and Chart Setups:
In addition to what we have discussed yesterday, the single currency pair has provided yet another proof in the form of an Engulfing Bullish Candle. This confirms our recommendations from yesterday to watch out for buying opportunities and stay long since the recovery/pullback is now underway. We still are in favour of buying dips intraday and the minimum upside targets would be the 96.00 level, if not further. Any further upside from 96.00 shall threaten the resistance placed at 97.30/40. Immediate support is yesterday’s low. Stay long for now.
Trading Recommendations:
Stay long, buy on dips today, and stop below yesterdays' low.

Good Luck!

---------- Post added at 07:09 PM ---------- Previous post was at 07:08 PM ----------





Technical Outlook and Chart Setups:
There is nothing much to discuss in the structure since last 2-3 sessions. Our expectations have been met with the single currency pair rolled down yesterday. Expect small intraday pullback but the follow up shall be on the bearish side. As depicted above, the immediate line of support is currently passing through the 1.5 region, and we are expecting this pullback to continue till at least 1.51, which is defined by the 0.5% Fibonacci retracement of the latest upswing. Stay short for now and build further on intraday rallies.
Trading Recommendations:
Stay short, stop above last swing high, targeting at least 1.5100.

Good Luck!

[Benhill]

are you using teknical analysis only? or also fundamental? what do you think abiut today movement? where Euro probably move? is it mean 'clear' in euro zone already?

[Harsh Japee]

Technical Outlook and Chart Setups:
As suggested earlier, 96.00 level has been met yesterday. There is a 4 hour chart setup above and it is quite possible that prices extend rally towards at least 97.00 level before a pullback can materialize. It is still recommended to hold on long positions and reduce risk at the moment by moving stops to 94.50 level. Immediate support now comes at 94.60 while bulls are targeting resistance above 97.00 levels. Stay long and ride the momentum for now.
Trading Recommendations:
Stay long, move stop loss at 94.50, target 97.00.

Good Luck!

---------- Post added at 01:56 PM ---------- Previous post was at 01:55 PM ----------





Technical Outlook and Chart Setup:
You can see a 4 hour chart setup above for reference. As expected, the down move continues and it is scheduled to accelerate towards measured extensions placed at sub 1.5100 level. Immediate resistance comes in at 1.5450 level. Any intraday pullbacks should remain well capped below 1.5450 now. Please note that this fall is still defined as correction before the next Bull Run begins. Stay short for now.
Trading Recommendations:
Stay short, target sub 51.00 level.

Good Luck!

---------- Post added at 01:58 PM ---------- Previous post was at 01:56 PM ----------





Technical Outlook and Chart Setups:
Nothing has changed our bullish bias in the yellow metal until now. In fact a breakout is being confirmed at this moment. Today’s candle formations are above the cone resistance line. Gold cleared the immediate resistance placed at 1620 level yesterday and is set to extend gains further. Major support comes in at 1550 levels while bulls are now targeting above 1640 levels. Fibonacci numbers extends up to 1700 levels. Stay long for now.
Trading Recommendations:
Remain long, target 1650 and 1700.

Good Luck!

---------- Post added at 02:00 PM ---------- Previous post was at 01:58 PM ----------





Technical Outlook and Chart Setup:
There is no change from our bullish bias within the metal. The breakout has materialized yesterday and today the movement should be following up to the higher side until the weekend. Support remains strong at 26.50 level now while resistance comes in at 28.50 and 29.00 levels. Bulls are targeting above 30.00 levels for now. Stay long.
Trading Recommendations:
Stay long, targeting 30.00.

Good Luck!

---------- Post added at 02:07 PM ---------- Previous post was at 02:00 PM ----------

are you using teknical analysis only? or also fundamental? what do you think abiut today movement? where Euro probably move? is it mean 'clear' in euro zone already?

Hello Benhill,

I use only Technical method to analyse instruments. If you are talking about the movement of EurUsd, here are my views.

1. Euro Rally is set to extend further up to atleast 1.2400-1.2500
2. Today first it should go down to around 1.2175-1.2200 levels. Rally would begin from there on. This might also take 1-2 trading sessions.
3. It is too early to say at the moment if the trend has changed or not. At the moment it can only be defined as retracement or pullback.

Happy Trading !

[Harsh Japee]

Technical Outlook and Chart Setups:
4 hour chart view is presented above for reference. The minimum expectations of 97.00 level being discussed last week have been met and are depicted above. The charts are looking stretched at the moment but we still cannot rule out the possibility of 98.00 level before a reversal. It is recommended to book profits on at least 50% of long positions taken last week. Bulls may target 98.00 level, also the 0.618% retracement level, before giving up.
Trading Recommendations:
Book at least 50% of profits taken on long positions last week. Target 98.00, stop below 95.50.

Good Luck

---------- Post added at 05:11 PM ---------- Previous post was at 05:09 PM ----------



Technical Outlook and Chart Setups:
The first measured extension levels have been met at 1.5250 as depicted above. Going further, prices have retraced 0.618% of the immediate downswing and now are ready to fall further towards the next extension at 1.5100 level. It is recommended to hold onto short positions for now and also fresh sell positions can be taken at these levels. Immediate resistance is placed just above 1.5400 level as seen above. Stay short for now, sub 1.5100 level expected further. Intermediary support is now at 1.5250.
Trading Recommendations:
Stay short for now, stop above 1.5450 or the swing high, target 1.5100 level.

Good Luck!

---------- Post added at 05:12 PM ---------- Previous post was at 05:11 PM ----------



Technical Outlook and Chart Setup:
We have been waiting for this several days already and finally the yellow metal is out of Cone Consolidation as depicted above. Normally, consolidation boundaries are tested after a breakout is materialized, before continuing further towards the direction of breakout. Maximum expectations can be a back test of cone resistance at 1600 level, which will act as support now. In any case, this fall should be considered as the optimum buying opportunity. Bulls are aiming 1700.00 level now. Stay long.
Trading Recommendations:
Stay long from last week, build further on dips, and target 1700 at least.

Good Luck

---------- Post added at 05:14 PM ---------- Previous post was at 05:12 PM ----------





Technical Outlook and Chart Setup:
Nothing has changed in the counter since last week. We still confirm our bullish recommendations for silver towards at least 30.00 level in the coming sessions. Immediate strong support comes at 26.50 level from where it has bounced back at least 3 times last week before breaking out of cone consolidations. Intermediary resistance is now placed at 28.00 level. Once this is cleared, the metal shall rush towards 30.00 level minimum.
Trading Recommendations:
Stay long, buy on dips, target 30.00 level.

Good Luck!

---------- Post added 07-31-2012 at 02:24 PM ---------- Previous post was 07-30-2012 at 05:14 PM ----------



Technical Outlook and Chart Setups:
Structure remains unchanged from what was discussed and laid out yesterday in the 4 hour chart. The single currency pair seems to be setting up a base for a run through 98.00/98.50 levels in the upcoming 1-2 weeks. A new low can be expected today or tomorrow before the rally resumes. We, therefore, recommend fresh buying on dips today. Intermediary support is placed at 95.50 while resistance is at 97.30/40 levels. Please, keep in mind that we are running into the last major swing of the bearish trend and the rally from 94.00 levels can be just defined as a counter trend at the moment.
Trading Recommendations:
Hold on long positions, and build by buying intraday dips, target at 98.00 levels

Good Luck!

---------- Post added at 02:25 PM ---------- Previous post was at 02:24 PM ----------





Technical Outlook and Chart Setups:
As depicted above in the Daily Chart Setup, the single currency pair is ready for the next bear leg towards 1.5100 level in the upcoming sessions. The expected timeframe for this target will materialize during 1-2 weeks. Intermediary support is below 1.53 while resistance is placed above the swing high made last week. It is recommended to sell intraday rally today and tomorrow for the measured downside targets as depicted in the above chart.
Trading Recommendations:
Remain short and build further on intraday rallies in the coming 1-2 sessions, target 1.5100.

Good Luck!

---------- Post added at 02:27 PM ---------- Previous post was at 02:25 PM ----------



Technical Outlook and Chart Setup:
As discussed earlier, yesterdays' intraday dip was an opportunity to buy. It is still possible that the yellow metal drops one last time to back test the consolidation resistance line turned for support now, before rallying further. To keep things simple, upside targets are well defined at 1650 and 1700. This rally is normally expected to be aggressive and fast since the scenario is consolidation breakout. Buy on intraday dips remains the trade mantra for now.
Trading Recommendations:
Hold on to long positions taken last week, target 1700.

Good Luck!

---------- Post added at 02:28 PM ---------- Previous post was at 02:27 PM ----------



Technical Outlook and Chart Setups:
Silver has now cleared 28.20 level and it is just a matter of time before the metal registers a swing high near 30.00 level. It has come a long way since we discussed 26.50 to be a strong support. We expect it to continue rallying towards the measured extensions as depicted above. Long positions taken last week should be held for now. Fresh buying should be made on intraday dips since those will be new buying opportunities presented. Intermediary resistance is at 28.90 levels.
Trading Recommendations.
Hold long positions for now and build them on dips, target 30.00.

Good Luck

[sync]

master expert!!!

thank you for your good analitic system..can i follow your analysis masta..?

[Harsh Japee]

master expert!!!

thank you for your good analitic system..can i follow your analysis masta..?

Thank you Mr. Cool, i'm humbled by your comments. God is the ultimate Master, this is just a skill that can be acquired. You are welcome to follow, please look into your risk management properly. Good Luck and Happy Trading...!!

[Harsh Japee]

Technical Outlook and Charts Setup:
As depicted above, the single currency pair is forming a base to launch the third leg up towards our measured extension levels at 98.00/98.50 region at least. Also please note that past support turned to resistance region and is also converging at the same price levels. Moreover, the dropping trend line also passes through nearby. Considering all these aspects, we continue our bullish positions taken from last week. Fresh positions can be always taken during intraday dips today. Watch out for a thrust action just after the Fed Rates today. The tone is set for the next bull move through August series.
Trading Recommendations:
Hold long positions and add on dips.

Good Luck!

[Harsh Japee]

Technical Outlook and Chart Setups:
Continuing from where we left yesterday, the single currency has started /initiated its expected downswing towards 1.51-1.5090 region. We have depicted 4 convergence possibilities around the 1.5100 mark.
1. Trend line support is passing.
2. Fibonacci Retracement of the last upswing from 1.4790 to 1.5400 levels.
3. Fibonacci extensions of the latest downswing from 1.5400 to 1.5250 levels.
4. Past Resistance turned to support region.
Hold on to short positions for now towards 1.5100 levels. Use intraday upswings as opportunities to enter selling.
Trading Recommendations:
Hold short positions, target 1.5100 level.

Good Luck!

[Harsh Japee]

Technical Outlook and Chart Setup:
Taking into account the chart above, let’s examine how the ideal breakout scenarios materialize. And gold has shown a better example for the same.
Step1: Out of the cone resistance line, shown as the breakout candle above.
Step 2: Backside test of the Cone Resistance line turned support now.
Step 3: Ready to rally again.
If one needs to enter into the rally and take maximum advantage, this is the time to do so. We recommend buying at current levels.
Trading Recommendations:
Hold on to long positions, build more now. Target 1650 and 1700 at least.

Good Luck!

[Harsh Japee]

Technical Outlook and Chart Setups:
Nothing changes technically, after the Fed Rate yesterday. The single currency set to gain in August series. As depicted above, bulls are targeting fresh highs at 98.00/98.50 levels. Any dips are certainly opportunities to enter long positions and build more. We are in wave 4 of the major down trend, and it should extend itself till 98.00/50 levels at least before giving up. Intermediary resistance is placed at 97.50 while support is just below 95.00. Stay long for now.
Trading Recommendations:
Continue holding long positions from last week. Target 98.50.

Good Luck!