Autochartist FX Power Stats Advanced

Sample Size: 1 Week

The average number of pips that any currency moves per day is a product of a number of factors both fundamental and technical. PowerStat’s Pip Movement Ranges offers valuable insight into a currency pair. The six month average along with area of probability, tells you not only the average but also the high and low extremes of each currency.s potential for daily movement.

Sample Size: 6 Months

All Autochartist Direct subscribers recieve free access to the FX Power Stats.

Ok check this out…it’s a new feature from Autochartist and it’s one that I will start using more often in the Chartology blog here at FXStreet.

The average number of pips that any currency moves per day is a product of a number of factors both fundamental and technical. PowerStat’s Pip Movement Ranges offers valuable insight into a currency pair. The six month average along with area of probability, tells you not only the average but also the high and low extremes of each currency.s potential for daily movement.

Volatility can come from a number of factors . all of which cannot possibly be determined in real time. It is precisely for this reason that historical tendencies are helpful when trying to determine how far a pair may move, higher or lower, within its historical trading range.

PowerStat’s Pip Movement Ranges can supplement any trading plan. The typical pip movement of a pair offers a direct correlation to proper stop loss placement and lends accuracy to the prediction region. Any traders can supplement Autochartist Direct with PowerStats for a more compete perspective of potential chart pattern trade follow-through. For example, when trading chart patterns that have triggered, the pip movement range can help with determining the distance the market may travel. If a trader habitually finds that their profit targets are located in the higher end of the pip movement range, this could explain why targets may not be consistently reached. For traders who habitually find that they .leave profit on the table., the pip movement range can specifically point to the reason and allow a trader to move the profit target deeper within the range with the confidence that the placement is historically relevant.

Hi, Raghee here.  Special thanks to Autochartist U. for yesterday’s updates. 

While I wait for today’s FOMC announcement like everyone else I thought we could look deeper at some relationships on the charts.  The Dow has been rallying the past three sessions and is sitting just under 13800. 

I like trading futures, forex, and stocks…together.  There are many markets that have advantageous correlation and when I look for these relationships I open the market wider to opportunity and secondary confirmation.

One of these is the Dow and the USD/JPY.

Take look at the next three charts…I’ll do more on this in my next post.

All charts used with permission from Autochartist and eSignal.

With two tests, the 111.76 mid-November and 111.88 recently, the USD/JPY has made a double top just shy of 112.00.

The intraday charts are ripe for a aggressive short off the 80 level.  The short play will be valid as long as prices continue to find seller between 111.76 - 111.86.  IN fact, as long as 112.05 is still not broken to the upside it’s a valid short.

All charts used with permission from Autochartist chart pattern recognition software.

With the U.S. Dollar sitting above 76.00 there pullback on the EUR/USD seems that much more playable across multiple timeframes.

The daily chart shows the "V" reversal just shy of 1.5000.  The reversal should not come as a surprise but with the support in the U.S. Dollar holding there is a definitely shift in the downtrend this month.

December brought the first shift in the market cycle since August…but before we all get ahead of ourselves…let’s not forget what happened in September and since.

The 240 minute chart is breaking up through the channel pattern in front of Tuesday’s FOMC statement on interest rates.  This reflects the current weakness in the U.S. Dollar since making the 73.81 high.

The 30 minute chart shows the Autochartist prediction region (resistance) and the current support at 1.4700.

All charts used with permission from Autochartist chart pattern recognition software.