Fun with line chart analysis: NATGAS and AUDJPY
I present these simple analyses of NATGAS and AUDJPY combining line chart and quarter boxes. KISS – keep it simple, easy to learn and use.
NATGAS giving uptrend another go?
- Most prominent feature is a recent ‘Higher Higher (HH)’ that beat previous top in Q3.
- This high is a bullish expansion.
- Any turning point that does not set a new low suggests a higher low which according to this chart will point to a bullish continuation.
- Waiting for price to overcome Q3 high eliminates the chance that this level (blue line) turns out to be resistance.
AUDJPY giving downtrend another go?
This one should be pretty straightforward because what happened back in Q2 (see left example) should be used as a case study.
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