USDJPY came back to distribution line (ICE). It made false breakout. I expect to move down to about 100.
Two weeks ago we were looking for the break of the pitchfork median line. Since then there was a short-lived break and price corrected back below the median line. In the mean time we have seen the 50 day sma cross the 200 day sma which is a long-term bullish signal. With the market still making higher highs (HH) on the completion of this correction we can expect...
Two weeks ago I was wondering if the retrace was complete. However, it seems as if we are completing a ABCD correction. The AB leg completed at the yearly PP and 78.6% fib level. The BC leg did not make it back to the pitchfork median line and we can expect the correction to continue to the lower median line of the pitchfork, 127% extension and monthly S1 support.
Following the Wyckoff analysis previously shown we are in a corrective structure. Waiting for the mark down to continue. I did not post last week but the previous week we were looking for a test of the top of the structure. This has occurred and we are now again moving to the bottom of the structure. We are now coming to the thin end of the wedge and will start...
After a downtrend $CS reached multi-decade lows. It appears that here Credit Suisse Group stock was, and still is, being accumulated. Currently it looks to be completing phase C to enter phase D.
The NADUSD found resistance at the Pitchfork Median Line and is retracing. Looking for a no demand day at the 50%Pitchfork line and trend line to go long. The 50 day sma is about to cross the 200 day sma which will signal that the market has turned bullish. Look at the previous posts to see how the Wyckoff evaluation of the market accumulation has progressed.
The retrace that we waited for last week has potentially completed at the monthly pivot, 61% retrace and trend line. Now we are looking for a no demand day to go long targeting the previous high at the 0.78500 level or even long standing structure at 0.80000 level. Following the Wyckoff evaluation previously explained we are now in the mark-up phase.
Just seeing how some stocks (in this case, APPL) behaves following Wyckoff theory.
USDJPY the bottom of the trading range was tested. A buyers entered the market with high volumes overwhelming the sellers. Now the top of the trading range should be tested. The 'TDI is also defining a trading range. So I will be looking long until the 'TDI reaches the top of its range to go short again.
USDJPY is testing the bottom of the trading range defined by the Wyckoff Redistribution evaluation and median line of the pitchfork of the previous markdown. Will be looking for the market to go long to the upper median line of the smaller pitchfork in the next week.
AUDUSD started retracing last week. This week we will be looking for the retrace to complete to between the 50 and 61% levels at the trend lines. Will be looking for a no demand day to go long.
We are now in Phase B of the redistribution using a Wyckoff analysis. We are now building a cause in preparation for a new downtrend. Large institutions and large professional interests are still disposing of their long inventory and initiating short positions in anticipation of the next markdown. The COT non-commercial interest are still short and showed some...
AUDUSD is showing signs of strength and the mark-up is starting. Watch for the pullback to the 0.618 retrace this week. At a no demand (low volume small spread) candle enter long and look for the next mark-up.
There is consistent dominance of demand over supply. Signs of strength with widening price spreads and increasing volume. The reactions (LPSs) have smaller spreads and diminished volumes. We are moving away from the trading range resistance lines. Based on this I think we are in the mark-up phase. Looking for some good pips on the way up.
Price has moved away from the resistance line and yearly PP. Price has retested these levels and is now moving away from the resistance and trading range. There is consistent dominance of demand over supply. Signs of strength with widening price spreads and increasing volume and reactions (LPSs) on smaller spreads and diminished volumes is still observed. The 'TDI...
The trading range has been set in phase A of the redistribution (using Wycoff theory) with a selling climax (SC), preliminary support (PS), automatic reaction (AR), secondary test (ST) . Also notice the volume spike at the SC and at the top of the trading range and low volume test of the bottom of the range. We can now expect the corrective structure to develop. I...
There is consistent dominance of demand over supply. Advances (SOSs) are on widening price spreads and increasing volume. The reactions (LPSs) have smaller spreads and diminished volumes. We are at the top of the trading rand and moving away from it. Based on this I expect the mark-up phase to start soon.
As indicated last week we expected to find support at the resistance lines. There is consistent dominance of demand over supply. Advances (SOSs) have widening price spreads and increasing volume. Reactions (LPSs) on smaller spreads and diminished volumes was again seen. We are at the top of the TR. We should see the mark-up phase should start soon.