Dear Community, it has been a few days since our last trade on oil, which by the way banked some really nice profit. As mentioned back then, we wer expecting a small correction before the price continues to drop. It might be a very aggressive approach at this stage but really the only realistic chance to get one more trade out of it before the oil price reaches...
Tenkan-sen line is below the Kijun-sen line, red line is directed downwards, the blue one remains horizontal. Confirmative line Chikou span has crossed price chart from above, current cloud ascending. Instrument trading around lower border of the cloud. Previous min of Chikou line is expected to be a support level (1330.74) Closest resistance level is the upper...
Continuing with the Panoptic Weekly Maps of the GBPNZD (@Ichimoku_Trader). We see some divergence on the 'AO indicating a retrace at the start of the week. We will be looking for price to reach the sell zone and level one signal to go short back to the median line of the Pitchfork.
On the Daily Chart, Tenkan-sen line is above the Kijun-sen line. Red-line is horizontal, while blue line is directed downwards. Confirmative line Chikou Span is crossing the price chart from below, current cloud is descending. Instrument is trading below Tenkan-sen and Kijun-sen lines; bearish trend is still strong. One of the previous minimums of Chikou Span...
Much like Gold the Silver price is in a corrective move. The price has broken the median line of the Pitchfork channel. So this week we should see the continuation of the ABCD correction.
Using a Schiff Pitchfork to describe the larger market vibration we find that price has reached the upper trigger line and is retracing. Currently, low volume interest is shown. The retrace should continue for the week to come. The following week we can look for volume increases to show buying interest returning to go long.
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...
With a strong NFP and week Canadian employment results price has broken the yearly PP. However, this is occurring on decreasing volumes showing that this is probably a temporary news based move. So with the final push higher we should be looking for volume to return, indicating sellers entering the market, to mark the start of the impulse move down.
With Gold showing some correction after a bullish move and a strong NFP one would have expected the rand to also have a good sized correction in price. However, the rand has strengthened and supported with some volume returning. The municipal elections have gone down with little incident and with some vote shifts shows that largely the democratic system is in...
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.
We have been moving along the cloud for some time. The price reacted to the yearlyPP and I was wondering if the market had started the big impulse CD leg. However, I think we could see on more leg up this week before the move down. When the Chico Span reaches price we can expect things to start happening. Volumes are still low and we can expect a volume spike...
With Gold having a bull run the Rand promptly followed. The Rand broke the yearly PP and is showing some strength. Volume entered the market. There was a brief attempt at a short term correction last week but the Gold strength dominated and pushed the Rand through the yearly PP. In the coming week we can expect a short term pullback/correction in Gold and the...
Dear Community, today a hot candidate who was on our list for a long time; USD/CAD. It looks like the resistance has been broken - eventually and we are (hopefully) going hell for leather direction our fist intermediate target at 1.3576. Here it will be decided if the run continues towards intermediate target #2 (1.3833) and finally the ultimate target at...
Dear Community, today we are presenting you a pretty nice buy setup for Silver, which, in all fairness looks quite promising. However, this is the third take on Silver so we emphasize that there is a chance that we won't get it right this time either - but, third time lucky as they say! Strong Reversal In A Bulish Market The direction has been bullish all the...
I expect a big drop in USDCAD, As you know USDCAD correlates with Oil and oil will break past $40 per barrel. USDCAD broke the 15 minute Komu giving me an opportunity to sell and base the rest of the trade off the weekly chart of USDCAD.
If price breaks the Kumo and 50 RSI I will enter long. Nothing further until price breaks KUMO