Negatives: 1. Last valid sell Sell Fractal was August 16th. 2. Your compass for direction, the alligator, is feeding in a down trend. 3. CHOP is almost BELOW the shaded area. This predicts a trend. 4. CHOP ZONE is red, indicating a downward bias. 5. Prices are trading below the Ichimoku Cloud . This is a sell signal. 6. Prices are below the red Ichimoku Cloud conversion line. This is a sell signal. 7. Prices are below the Ichimoku Cloud baseline. This is a sell signal. 8. The-DMI (top) has a bearish cross. This is a sell signal. 9. The phase energy (top lower) is steadily falling, and it is below the zero line. NOW HAS A DOWN-WARD BREAK. This is a sell signal. 10. Ichimoku Cloud has red border. 11. Trend-line is heading lower. Positives: 1. NONE TO REPORT.
For an estimation of possible FORWARD TRENDING I use the Ichimoku Cloud Senkou Span A (Leading Span A): (Conversion Line + Base Line)/2)). This is the midpoint between the Conversion Line and the Base Line. The Leading Span A forms one of the two Cloud boundaries. It is referred to as "Leading" because it is plotted 26 periods in the future and forms the faster Cloud boundary. I then make an oscillator out of this and plot the progress up and down around a “zero line”. Currently the forward projection is VERY WEAK. I HAVE THE RESULTS OF THESE CALCULATIONS FOR-GBPAUD IN THE TOP MIDDLE INDICATOR. AS YOU CAN SEE, THE FORWARD PROJECTION IS HEADING DOWN TOWARDS THE ZERO LINE. Note: DMI-top and phase energy (bottom) already have negative crosses. These usually lead the forward projection because they are faster indicators. A four hour chart looks even more NEGATIVE. So, I feel-GBPAUD will be heading LOWER.