6-8-12 Friday Max

Fri 6/8/2012:
E/J

Daily is up with gold cross and EMA/LR cross.
Market is above weekly purple resistance

Resistances:

Daily Upper BB: 104.14
Daily Romar: 102.20

Supports:
Daily Gold: 97.24
Daily Smooth: 97.94
Daily Purple: 98.32
1H Romar/TI
2H Simple, TI, Romar

Long with Gold sync of 1H and 2H at support with 1H DMI up, 2H HL up.

The variable here would be the 1H TI/EMA cross, which would place supports below at 1H Romar, 2H Simple. 2H Romar is wedging with 200 Simple. A crossing would mean a continuation of the up.

With 1H TI/EMA cross, the charts were readying for the down move. Early entry could have been the 2100 candle, but high impact news was at 19:50 JPY.
With 2H HL showing splitter at 2100 but not connected for down until 2200, entry for a short was 2200 (open below 1H Romar, 2H 200 simple). 2H LR had crossed TI also at this time putting both charts in TI sync for the down.

The simples were being set up to change sequence from the short to the long with 30 first reversing order (200 bottom, 100 middle, Romar top), with 1H following. 2H had not changed yet for the full sync of simples back up (only got as far as Romar in between simples).

1H DMI and 2H HL were both down at 2200 candle also confirming the short, and longs out of the picture.

Wedging first happened with 1H TI/EMA. Once 1H TI/EMA crossed, wedge with Romar was there. 2H TI/LR wedge then followed, then by TI/EMA.