CapMoore

Price has hit a longer term trendline after completing the ABCD pattern, and on the H4 timeframe we can see Bearish Divergence with a MACD crossing. With the Monthly Pivot Point (1.0805) yet untraded it looks like a natural destination for a retracement here, which may also close that GAP at 1.0775 (low end). Another attempt to break the trendline should be capped ...

Price has hit the upper border of the Ichimoku cloud, with the projected cloud (the future) still bearish. Because the Weekly timeframe has produced a clear Ichimoku buy signal last week (Cloud breakout) we expect price to continue upward. The first weekly target stands at the 61,8 fib of the CD leg at 118.85 right at the dec-16 top, with an ultimate target ...

The ABCD pattern as I posted before has played out well and price has respected the completion and is moving toward the first target which stands at 112 ish (112.15). However, looking at the Weekly Ichimoku cloud we can see that price has just hit the upper border. As the projected cloud stands bullish, the resistance will be less strong and a weekly close above ...

The German DAX is hitting All Time Highs as it breaks above the April 2015 high and probing above the Yearly R1. A Weekly close above the two mentioned levels will be bullish and we are looking at Yearly R2 at 13325 for next level resistance. This is slightly above the 161,8 D-extension of the long term ABCD pattern. Above Yearly R2, the 3rd Quatile of the fork, ...

Price has again gapped above the neckline of the Inverted H&S pattern. Question is, if the pattern is valid after the first failed triggering, but at least the ABCD pattern is intact, and the D-level stands at 1.0973 in alignment with the Weekly R3 and lows from June-July 2016. For gap traders a gap breakout is something troublesome, but it happens that gaps are ...

Price has just completed an ABCD pattern which coniceded with the SMA200. Minimum target of the pattern is the 38,2 Fib of the whole pattern at 112,25 which is in perfect alignment with the yet untraded Monthly Pivot Point and just shy of the Yearly Pivot point. Long trades can be entered after buy signals on lower time frames. If we see a daily close below ...

Price has entered the neutral zone within the Kumo Cloud after failing to close above the Monthly Pivot Point at 0.8590 which is also the upper band of the Kumo Cloud. It seems likely that price now is gravitating towards the yet untraded Yearly Pivot Point. The strong support level is comprised of previous previous low from Dec 2016, The Monthly S1 and the ...

Since price failed to trigger the H&S pattern and has fallen sharply along with bullish stock markets, a new assessment is needed. Looking at the weekly timeframe, we have a significant Bullish divergence on the MACD indicator, between the 2015 and 2017 lows. MACD trend is bullish, but price is still trading below the Kumo cloud, so upward action may still be ...

After breaking the neckline of the inverted H&S pattern with a gap price has come back down to fill the gap and test the break out level. Note that the SMA200 held resistance as well. The 61,8 fib of the CD leg of the ABCD pattern is now support in confluence with the Weekly Pivot point that was just traded. For a bullish bias, this is a good point to go long, if ...

Index stands at the junction point of a H&S neckline and a trendline going back to June 2016. The starting of next week may give clues to wether index will find support or if it will break the TL and neckline. If index breaks below the 12300 level on a closing basis and the neckline is fixed to this level (disregarding the spike to test the Yearly PP) a target ...

After selling off pre-NFP last week price bounced and closed above the Kumo Cloud again.White line mark the neck of an Inveresed Head & Shoulders pattern that may be forming. The pattern will be triggered once the neckline is breached on a closing basis. Currently price is pulling back, gravitating to the daily and below weekly Pivot Points. Chances are good ...

The friday close was interesting because bulls managed to push price to a close a few pips above the Kumo Cloud, which was the first time since Sep 30, 2016. The devil is in the details, especially in technical analysis. For me it signals bear weakness. The Monthly Pivot Point is attracting price of course and it is still untraded at 1.0633. Currently price is ...

Price has reached the Yearly S1/Lower Kumo Cloud. The S1 was traded this week. This cross pair has been the strongest/weakest of the last weeks but currently there is a chance for a pause or bounce, since the confluence support is also combined with the Apr 2015 Low. The 61,8 Fib stands at 1,35 sharp some 230 pips from current level. Yet more added support is ...

Price keeps moving in a clean fashion, making trading favourable. Last week price did reach the 61,8 fib retracement of the recent leg up (to the Yearly Pivot Point). The bounce was sharp but still price just touched the Weekly Pivot Point (pip to pip again) just to return back down, crawling along the Kumo Cloud. This week price has bounced off the Weekly Pivot ...

Price left the Weekly Pivot Point behind untraded and turned lower yesterday, which was the likely scenario, as the USDOLLAR index is looking higher. Currently price just reached the lower Daily Kumo Cloud. Since the future, projected cloud is still bullish this may add support here, but some important targets stand just below (61,8 Fib of recent swing at 1,0528 ...

Price has bounced off the Yearly Pivot Point pip to pip, a level I pointed out in recent posts as the upward target, before any meaningful move down would occur. Well, price has since moved some 200 pips down, it has tested the 38.2 fib/Monthly Pivot Point at 1,0642-48), bounced from there but has come right back and broke below it and is now testing it from ...

Pre-London open price has tested the weekly Pivot Point at 1.0708. The general plan is to see price move towards the Yearly PP at 1.0830 as price found nice support by the Wedge floor and the H4 Kumo Cloud as is seen on this chart. Of course, there was a gap open and it is always unpleasant to go long if the gap is below price and has not been closed (The friday ...

Price is testing the lower wedge floor and possibly the Weekly pivot point which stands at 1.0666. 1.0646 is the current upper Kumo Cloud, which may also support if price attempts to break the wedge. The general idea is that price will look to trade the Yearly pivot point at 1.0830 level before any serious bearish development takes place. But if the wedge is ...