Using the Panoptic Weekly Map Method as described @Ichimoku_Trader we continue the posts on the GBPNZD. We are correcting back to the upper median line of the Pitchfork. So we wait for the correction to complete and then trade the next move down. Looking for a break of last weeks lows.
Following the view of the USDCHF using the two pitchfork trend lines the market could be completing an ABCD pattern.
Silver is in a corrective structure, broke the Pitchfork median line, retested it and is now moving to the lower median line.
Price has reached the Schiff Pitchfork upper median line as part of the correction. Looking to complete at the 50% median line.
I was expecting the USDCAD to complete the correction of the BC leg down move at the 38% level. However, price moved down breaking the lows of the previous weeks and the market seems to be bearish now finding resistance at the yearlyPP. In spite of this the expectation is still to the significant resistance levels which include the 50sma, 38% retracement, SSB 50%...
We are now in Phase B of the redistribution using a Wyckoff analysis. We are now building a cause in preparation for a new downtrend. Large institutions and large professional interests are still disposing of their long inventory and initiating short positions in anticipation of the next markdown. The COT non-commercial interest are still short and showed some...
NZDUSD has shown good signs of strength. However, we see good rejection candles at the median line of the Pitchfork. Price still made a higher high (HH) even if only just. 'TDI is also showing some bearish sentiment . So we possibly could see a pullback this week to the lower median line of the Pitchfork. Notice the no demand candles (low volume small spread) at...
AUDUSD is showing signs of strength and the mark-up is starting. Watch for the pullback to the 0.618 retrace this week. At a no demand (low volume small spread) candle enter long and look for the next mark-up.
Continuing the ABCD pattern completion. Notice areas of volume increase and no demand. Looks as if we are on track towards point E but first we have to break the trend line from point C.
The USDZAR is showing some strength. I expected some correction last week that never materialised and the trend seems to be strong. Price is in an area that previously showed some structure and the expected correction could happen this week. The TDI indicates overbought conditions. There is volume support for the down move with increasing volume and spread and...
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.
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.
Using two pitchforks to define the market vibrations, of the USDCHF pair, it seems that the Trigger Lines are forming important resistance levels. I will be watching the .618 levels and the reaction from the Trigger Line of the older pitchfork for the completion of the corrective pattern.
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...
The trading range has been set in phase A of the redistribution (using Wycoff theory) with a selling climax (SC), preliminary support (PS), automatic reaction (AR), secondary test (ST) . Also notice the volume spike at the SC and at the top of the trading range and low volume test of the bottom of the range. We can now expect the corrective structure to develop. I...
I am amazed but after nearly 2 months the ABCD count has held. The corrective structure has nearly completed and we are now looking for the final move to point E. After the middle of September we could see the start of the next impulse move and the end of this ABCD count. Price has reached some key resistance and I will be looking to go long this week. Notice the...