Last week I posted a view of the EURUSD corrective structure. Brexit resulted in a quicker finalization of the D wave of this structure than I had expected. So this week it looks as if the market is entering the last of the corrective ABCs. So I am looking at the 1.13 level for resistance before a move back to the 1.10 level and the final leg up before we break...
The NZDUSD has reached the top of the cloud. This is also the 127% extension of the Zigzag (5-3-5) corrective pattern. Further, this is the 61% retracement of the previous down move. If the cloud holds I am expecting an impulse move down in the weeks to come.
USDCAD is still being defined by the cloud on the weekly time frame. There is a hesitation of the ABCD retracement at the 23.6% fib level this week. However, think we are still going for the bottom of the cloud before the next impulse move.
Following last weeks Wyckoff view I formed of the market we have seen two good rejection candles off of the Automatic Reaction ('AR') level. So we will probably be looking for the bottom of the cloud in the weeks to come at around 0.72. Then staying in the cloud to about the end of August. Well lets see were the market takes us. I will be looking to follow the...
Following last weeks Wyckoff view it seems as if the USDJPY could be entering a redistribution phase in the coming weeks. We could make the 103 level next week but then start to range before the next mark down begins. The previous up leg re-accumulation took 34 weeks so I am expecting the market to range between 101 and 105 into next year. That is to say if we...
We are in a corrective phase on the EURUSD with what looks like a contracting triangle forming with many ABCD patterns. We had a bounce of the bottom of the cloud last week and looks like we will be going long aiming for the long-term trend line in the coming week. Then a finalization of the D wave to resistance at 1.1000 level. Hey but the Market can do what it...
Updated volume indicator by SteynTrade Version2 The colour bars: Green: Price up - Volume > 2 x STD of last 21 bars Blue: Price up - Volume > 1 x STD of last 21 bars Maroon: Price down - Volume > 2 x STD of last 21 bars Purple: Price down - Volume > 1 x STD of last 21 bars Gray: not high volume bar Green line: 2 bar sma Red line: 8 period sma of...
Updated version of Colour Volume Bars V2 The colour bars: Green: Price up - Volume > 2 x STD of last 21 bars Blue: Price up - Volume > 1 x STD of last 21 bars Maroon: Price down - Volume > 2 x STD of last 21 bars Purple: Price down - Volume > 1 x STD of last 21 bars Grey: not high volume bar black line: 2 bar sma Red line: 8 period sma Blue line: 21 period...
The weekly USDCAD show that price corrected straight through the pitchfork average taken from the start of the up move wave. Price found support at the SSB together with the 'CS finding support on the opposite side of the cloud. Price seems to be forming a ABC correction of the down move. The 'CS is again at the opposite side of the cloud and a bounce would mean...
Ranging Tradeable Market. On the weekly chart we see that the AUDUSD has entered an area between 0.80 and 0.70 were price previously ranged between. We see a buying climax the end of August 2015 which was preceded by preliminary support. This indicates to me that we are now in an accumulation phase of AUD. Based on this it would mean that we are in Phase B of the...
Last week I viewed the daily chart as indicating accumulation of EUR over JPY. Stepping back a bit it looks like the market is rather looking to go short. My arguments for this are as follows using the Weekly chart: We reached a market top with strong climax buying. As for my evaluation of the USDJPY it looks as if the market is accumulating JPY...
Trading Ranges (TRs) are places where the previous trends has been halted. During these TR the big market players have their campaigns of accumulation or distribution in preparation for the coming move. The building up of the necessary force takes time. During this period the price action is well defined and trading ranges present particularly good trading...
The EURUSD has been in a range since the beginning of 2015. At the beginning of December 2015 it reached the bottom of the channel and has reached the top of the channel at the beginning of May. Since then it has entered the cloud ranging inside it. It is now testing the bottom of the cloud. The bottom of the cloud coincides with the 61.8% retrace of the previous...
As part of the #project1001pips @Ichimoku_Trader www.tradingview.com and @Fxprotrader www.tradingview.com generously gave of their time. A great thank you goes to them. I have learnt a lot as part of the Wichi Team and felt I needed to summaries what I have learnt and check with the team if my understanding is correct. Also to give back to the project1001pips. ...
The orginal trade idea is from @Ichimoku_Trader. Taken it and looking good. Thanks Ichi-San and the Wichi team
Gold has met resistance on the daily Kijun-Sen Double top formed with divergence on the TDI Expect to trade down at least to the Kumo
Fxprotrader showed a very nice Cyper pattern www.tradingview.com -Thank you Here is my analysis of the USDCAD TDI showing oversold conditions at lower bollinger band so first expecting retrace Then looking to go short on break down. Looking left some resistance that could be good profit targets
With Yellen still to speak it looks like a break back is on the cards. Divergence on the TDI and volume not supporting up move. Looking for the signal to go short on the 1h chart Looking for the liquidity gap to close to the read arrow.