SteynTrade

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About me Observe mean reversion through Ichimoku for price, TDI for sentiment and average volume
Joined South Africa MankweCS
Observing the oscillations (time) of mean reversion through Ichimoku for price, TDI for sentiment and average volume.
Markets Allocation
92 % forex 2 % commodities 6 % other
Top Mentioned Symbols
EURUSD 19% | 24 AUDUSD 14% | 18 USDJPY 12% | 16 USDCAD 11% | 14
SteynTrade SteynTrade DX1!, 1W, Short ,
DX1!: US Dollar No Demand
190 2 9
DX1!, 1W Short
US Dollar No Demand

The US Dollar has been in distribution with large speculators unwinding their net long positions (COT Report) that had been building since mid 2000. Currently the longs and shorts are matching each other and there is no commitment in the US Dollar. The volume signature has also decreased. The correlation with the 10 year bond yields has also shown a significant ...

SteynTrade SteynTrade USDJPY, 1D, Long ,
USDJPY: USDJPY Wyckoff Accumulation
428 0 11
USDJPY, 1D Long
USDJPY Wyckoff Accumulation

Following the Wyckoff logic the USDJPY seems to be undergoing accumulation on the Daily time frame. Demand has been increasing. The downward stride has been broken. After some low volume adsorption a spring has occurred. A change of character can be seen with ease of movement to the upside on the 28th of March with some good volume. Following the low volume ...

SteynTrade SteynTrade EURUSD, 1W, Short ,
EURUSD: EURUSD: Climatic Action
502 2 18
EURUSD, 1W Short
EURUSD: Climatic Action

EURUSD has reached the supply line of the downward stride and is showing significant climatic action. This is also a supply area that has now become resistance between 1.22 and 1.25. There is RSI divergence indicating supply coming in at the Preliminary Supply (PSY). On the daily time-frame there has been a secondary test on lower volume of the climax high ...

SteynTrade SteynTrade EURUSD, W, Short ,
EURUSD: EURUSD Wyckoff looking for back up to creek
551 3 23
EURUSD, W Short
EURUSD Wyckoff looking for back up to creek

Using a Wyckoff view the EURUSD has completed the jumped of the creek and we are now looking for a back up to the creek in phase D. A volume climax is seen and the uptrend stride has been broken. A low volume pullback to the creek is anticipated before the start of the mark up in phase . Distribution is seen on the daily time frame also confirming the pullback.

SteynTrade SteynTrade CADJPY, D, Long ,
CADJPY: CADJPY: Wyckoff Accumulation / Head & Sholders
217 0 13
CADJPY, D Long
CADJPY: Wyckoff Accumulation / Head & Sholders

The CAD has been showing signs of strength and has reached the end of the accumulation in Phase D. This accumulation pattern has followed the classical Head & Shoulders pattern. A break of the neckline should see a strong mark-up in Phase E.

SteynTrade SteynTrade EURUSD, W,
EURUSD: EURUSD the Wyckoff creek has been jumped
646 1 15
EURUSD, W
EURUSD the Wyckoff creek has been jumped

EURUSD has jumped the creek and reached the top of the Wyckoff accumulation range. At the beginning of April this jump was indicated following a spring and tests of the spring (See posts below). A possible consolidation and back-up to the creek should occur before the mark-up in phase E starts. Will be watching for longs once the consolidation has completed in the ...

SteynTrade SteynTrade B61!, D, Long ,
B61!: GBP: Wyckoff phase E mark-up has started
113 0 10
B61!, D Long
GBP: Wyckoff phase E mark-up has started

Following a Wyckoff evaluation of accumulation the Pound has undergone accumulation setting the cause for the mark-up in phase E.

SteynTrade SteynTrade DX1!, D, Short ,
DX1!: USD Wyckoff Distribution
219 1 13
DX1!, D Short
USD Wyckoff Distribution

Making the case that the market has been in distribution of the USD since early in 2015 when a buying climax (BC) occurred. Since then the USD has been in a trading range with Signs of Weakness (SOW). Most of 2016 low volume adsorption occurred with an upthrust using the presidential elections as springboard. In 2017 we have seen signs of weakness with increased ...

SteynTrade SteynTrade NZDUSD, W, Long ,
NZDUSD: NZDUSD Spring forming
94 0 8
NZDUSD, W Long
NZDUSD Spring forming

The NZDUSD is going through accumulation as is the AUD and EUR. Based on a Wyckoff logic a spring is potentially forming. NZD has shown signs of adsorption volume in Phase B while showing strength in an upward channel. Once the markup starts this pair is a good option to follow the trend due to the strength shown.

SteynTrade SteynTrade EURUSD, W, Long ,
EURUSD: EURUSD classic Wyckoff: Wait for pullback
261 2 14
EURUSD, W Long
EURUSD classic Wyckoff: Wait for pullback

HL and HH forming in a channel. Waiting for pullback to complete and looking for the markup to start.

SteynTrade SteynTrade AUDUSD, W, Long ,
AUDUSD: AUDUSD Wyckoff Accumulation: Still waiting
119 4 10
AUDUSD, W Long
AUDUSD Wyckoff Accumulation: Still waiting

Following the Wyckoff logic the pair has shown signs of accumulation. Price could find support on the yearly pivot in the coming week or two. OBV has declined more than price showing effort without response. Waiting for some volume to return and the markup to start.

SteynTrade SteynTrade AUDUSD, W, Long ,
AUDUSD: AUDUSD Wyckoff Accumulation: Ready for markup?
121 0 8
AUDUSD, W Long
AUDUSD Wyckoff Accumulation: Ready for markup?

As for the EURUSD the AUDUSD has gone through an accumulation phase. With some widening spread on increased volume a change in character is being seen. This sign of strength (SOS) possibly indicates the Last point of support (LPS) has been established and the markup can start. Will watch for the development in the following weeks to see if the creek will be jumped.

SteynTrade SteynTrade EURUSD, W, Long ,
EURUSD: EURUSD Classic Wyckoff: About to jump the creek
209 0 11
EURUSD, W Long
EURUSD Classic Wyckoff: About to jump the creek

EURUSD is showing classic signs of accumulation of Euro and selling of USD. We have had a spring and test in phase C and the creek is about to be jumped. The creek is being defined by the confluence of the yearly pivot point, 50 weekly sma and historic 50% retrace defined by the Ichimoku Cloud.

SteynTrade SteynTrade USDJPY, D, Short ,
USDJPY: USDJPY waiting for the break
109 0 22
USDJPY, D Short
USDJPY waiting for the break

A corrective structure has been formed as part of the redistribution in a range of previous accumulation. There were two range areas during previous re-accumulation. Once the current wedge structure is broken we can expect price to find further support at previous lower support areas.

SteynTrade SteynTrade EURUSD, D, Long ,
EURUSD: EURUSD squeeze before completing corrective structure
138 0 19
EURUSD, D Long
EURUSD squeeze before completing corrective structure

The EURUSD is finding resistance at a number of key levels and has created a wedge pattern. A very old level at 1.120, a Brexit key level at 1.11725 and yearly PP around 1.115 and the 50 day sma. We see a good rejection candle off these levels (see circled area). The TDI is showing a steady increase and all the RSI lines are above the 50% level. The BBands have ...

SteynTrade SteynTrade USDZAR, D,
USDZAR: USDZAR Where will the Rand go? Waiting a little longer
160 0 17
USDZAR, D
USDZAR Where will the Rand go? Waiting a little longer

The USDZAR is forming a smaller corrective wedge within the larger correction. Seems as that everyone is waiting to see how things will develop. Within this wedge it does seem that volumes have increased and volume spikes can be seen at the bottom of the low volume pullbacks which looks imo that larger players are shedding Rands on the pullbacks and we can expect ...

SteynTrade SteynTrade EURUSD, D, Long ,
EURUSD: EURUSD still waiting for completion of the corrective structure
133 0 22
EURUSD, D Long
EURUSD still waiting for completion of the corrective structure

The EURUSD has again found support at the yearly PP. I am still waiting for the corrective structure, that has been playing out since the beginning of 2015, to complete. Will be looking for a break of the yearly PP to make me bearish and a break of the resistance zone between 1.125 and 1.132 to confirm the final move to complete the corrective structure.

SteynTrade SteynTrade USDZAR, D, Long ,
USDZAR: USDZAR Where will the Rand go? Waiting for the big impulse
144 0 17
USDZAR, D Long
USDZAR Where will the Rand go? Waiting for the big impulse

Last week potential completed a ABC correction of the first impulse of a weakening rand. Talk about the looming downgrade is increasing and there is still the USD rate high expectation. The only thing going for the rand at the moment is the possibility of the Gold price improving. This week I expect at least a move to the yearly PP at around R14.2/USD. At the ...

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