Today London session tested yesterday spring. Market can go higher.
Election day - shakeout. Then, we had a small correction, ended with spring. Most likely USD will go higher.
I'm expecting pullback to AR, which is 107-107.5, ideally spring / ABCD and continue uptrend. From point & figure chart possible target 120-122.
Potential spring after Selling climax. It can result with move higher (purple). I'm consider it as correction for the moment. Watch for market reaction on resistance levels (blue). Alternative scenario - continue down move in red.
Some remarks on the price evolution of CS Credit Suisse stock was in a downtrend which ended with a selling climax (SCLX) on February 11 this year. After that CS showed signs of being accumulated. The Brexit vote initiated a huge shake out. During this shake out it broke below its trading range, after which it trended back up into the trading range. Here it...
EURGBP testing demand line of uptrend channel. Looking at cumulative volume, there is not much of selling pressure.
It seems we had more complex distribution schematic than expected. After FOMC USDCAD is going down. Strategy would be to wait for pullback to ICE and if "no demand" or upthrust, take a short.
Loonie shows No Demand on ICE. If next bar is down, I will go short.
We have shortening of thrust on way down. The last swing before trading range has very high cumulative volume. It indicates possible hidden buying. The current range could be accumulation schematic. 2 possible bullish scenarios: 1. Price false break of trading range (spring) and goes up. While breaking the creek, there is possible backup to the creek. A spring and...
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.