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chikouspan

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GoldBands GoldBands PRO GCJ2017, D, Long
GCJ2017: Gold Falls and then Rallies Off the 21 Day Moving Average
21 0 5
GCJ2017, D Long
Gold Falls and then Rallies Off the 21 Day Moving Average

Gold sold off in the overnight session to tag the 21 day moving average. The precious metal then reversed as the New York markets opened up and rallied to close between the 6 and 8 day moving averages. On the whole, gold rose a modest 1.5 points today. Today's doji shows that once again gold seems to be in a holding pattern and moving sideways. Although since this ...

SteynTrade SteynTrade PRO USDCAD, W, Long
USDCAD: USDCAD the cloud (Kumo) is still defining the resistance
78 1 14
USDCAD, W Long
USDCAD the cloud (Kumo) is still defining the resistance

The Kumo is still acting as resistance for the Chikou Span on the weekly time frame. Price is correcting to the bottom of the Kumo on the BC leg of the larger ABCD correction. This is also the LML of the Pitchfork and 50 week SMA. Still expecting the price to rise in the next week before completing the bigger CD move down.

SteynTrade SteynTrade PRO USDCAD, W, Long
USDCAD: USDCAD still on both sides of the cloud
48 0 10
USDCAD, W Long
USDCAD still on both sides of the cloud

The Chikou Span and price is still being defined by the Kumo. After two weeks we are still following the ABCD pattern with price correcting to the bottom of the cloud at 1.33. After this the final leg of the larger correction could occur.

SteynTrade SteynTrade PRO AUDUSD, W, Short
AUDUSD: AUDUSD remains in the cloud
75 0 10
AUDUSD, W Short
AUDUSD remains in the cloud

I have refined my Wyckoff evaluation from the previous posts on the charts. The Chikou Span has also now entered the cloud. I expect it to be contained by the cloud even after the price has existed. The price has met resistance at the Yearly PP and a potential Gartley pattern is forming. So in July I am expecting the price to trade down towards the 0.7 level after ...

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