Ichimoku Cloud Chikou Span Cross - Signal
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...
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.
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.
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...
CADJPY has entered a low volatility squeeze on the 1 hr chart. The Chikou span (lagging span) is crossing Senkou Span (leading span) A, an indication that bearish price action may be forthcoming. Price has crossed below the cloud to mark the end of a weeklong bull run. A bearish Wolfe Wave setup has completed and price has begun its movement toward the 1-4...
Daily Chart in Channel Double Top shows short term bear move Price has broken the Cumulus Cloud pattern Waiting for Lagging line to break the Cloud to confirm down trend. Support line from March 2015, multiple touches (marked in purple) Have not taken a position on this yet, waiting for Lagging Line to break the Cloud formation