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 13% | 16 USDCAD 11% | 14
SteynTrade SteynTrade CADJPY, D, Long ,
CADJPY: CADJPY: Wyckoff Accumulation / Head & Sholders
57 0 8
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
129 0 10
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
29 0 5
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
56 0 6
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
54 0 6
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
177 2 11
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
80 4 9
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?
69 0 7
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
117 0 10
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
88 0 21
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
126 0 18
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
149 0 16
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
120 0 21
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
125 0 16
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 ...

SteynTrade SteynTrade NZDUSD, D, Long ,
NZDUSD: NZDUSD bullish cross
151 0 18
NZDUSD, D Long
NZDUSD bullish cross

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 ...

SteynTrade SteynTrade AUDUSD, D, Long ,
AUDUSD: AUDUSD correction continues
82 0 19
AUDUSD, D Long
AUDUSD correction continues

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.

SteynTrade SteynTrade USDCAD, D, Long ,
USDCAD: USDCAD a different view
153 6 19
USDCAD, D Long
USDCAD a different view

I have been following the USDCAD using the weekly chart and Ichimoku. I did not post last week and wanted to show a daily view this week. Price seems to be defined by the Yearly PP and 200sma during the correction of the impulse down move. The retrace has not even reached the 38% retrace level and important structural level. However, to achieve this the Yearly PP ...

SteynTrade SteynTrade EURUSD, D, Long ,
EURUSD: EURUSD the final push is and then for the big move
148 0 20
EURUSD, D Long
EURUSD the final push is and then for the big move

I did not post last week but the correction completed and the final push to point E started. Will be looking for the structure to complete around the 21st of this month and then we can expect a strong move. We have been following the development of this corrective structure with ABCD patterns for a number of weeks (see below) but we are now starting to look for ...

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AUDJPY
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