Previously we looked at the Line Break chart which was great for spotting possible reversals. In this article, we look at an approach that can filter out some of the psychological issues you may be having with your analysis. If you’re struggling with the ‘noise’ of the charts and information overload in your trading, then Kagi charting could be just the thing for you to add to your trading arsenal. Kagi charts were developed in Japan in the 1870’s when their stock market started trading and were used to track the price movement of rice. They were used to give a much more transparent picture of where the price of an individual asset was headed independent of time. Due to the global world we live in and the advancement in charting software, techniques such as Kagi charting are now available to all of us. [Read more…]
Last week we looked at some of the basic 
Chart of the day: USDMXN Post Trump victory, things have settled down the other side of the ‘wall’ and the Peso has continued to grow in strength. The question is, how much longer can this strength last? Currently, price on the Kagi chart is heading into a lot of historical noise around the mid 18.5’s and then toward strong Fibonacci resistance at or around 18, which is where the cloud may also provide some downside resistance. If it can break south of the border here, then further Fibonacci targets could be at 16.69 then 15.45. Longer term upside Fibonacci support may be found at 19.7 then back to the record highs just under 22.
