it's pretty crowded, but I'm not ready to clean my chart just yet.
I'm looking at the orange rectangle with the ellipses, and the green arc. We're looking at a teacup here, so things will be bearish for a while.
I have to look at the lower timeframes again, but it looks like longer term, we'll be seeing that 5th impulse in the move.
BUT from what I've been seeing today, it's been pretty bullish. I don't know how long this bullish move on the 1H will last before it turns bearish, but I'm sure it will. Definitely will have to watch for it though
The chart shows it. I hid the indicators, but I'll keep an eye on it and see how 8:00 meets us.
Based on price action, I see a teacup formation with a Price Reversal Zone at the top. I'm thinking about recent trends. It looks like it'll continue upward for some time, but we're in a reversal right now. If you can go a quick sell trade, you can probably try it....
the 1D timeframe is a bit large for my tastes, but for swing traders this may be right up your alley. (though the way things are looking, should I join in for the long term, or trade smaller moves?)
Looks like a Head and Shoulders pattern on the D tf(TF drawn in purple, red/brown to ID the pattern). It definitely feels bearish to me, which follows the larger W tf.
Brief education post while I still have the chance. Or at least a post to share my observations.
(any professionals who regularly use ichimoku, please correct me if I'm wrong)
Ichimoku has a couple parts to it. Conversion line (orange on my chart), base line (blue), the lagging span (black) and the leading spans that make up the cloud (lead 1, I believe is ...
It's been a bit. I think my last idea was a sell idea? either way. that's past. currently, the money's moving in a sell. so far, the market has been respecting the resistance trendline. The ichimoku cloud is showing a sell. it's also showing a turn to a buy briefly, but i don't think it is, unless you're a good scalper, and could trade the pullback. The ADX and...
I'm trying something new here. As much as I love indicators, there comes a point where the information gets overwhelming. And I'm sure if you've seen my charts, you see what I mean.
My analysis focuses on the D, 4h, and 1h TFs. The larger trend is bearish, but the D(purple) timeframe is experiencing a pullback. The highlighted area is where...
I'm gonna try and keep this short. Today is the start of a HUGE trading weekend, and I still have to get ready and head up.
Anyways. Look at my charts again. This is the 1H tf. I kept all the successful and failed trade setups I entered with annotations for justification, etc.
There are a couple things to do that I didn't.
1) Recognize the larger trend. ...
I pulled the text, etc. down on the chart for the candles to show better. This is the 1D timeframe. See how long the uptrend was? A good few weeks right? I think we're going to be seeing a downtrend for a while. So far, if you look at the chart, with that tangle of trendlines and support and resistance you'll see that the market always returns to specific levels....
I'm in this. Check it out and see if this is a good trade for you. So far, lots of traders seem like they're in the the sell. I could see it. Check your indicators, check the ideas of other traders. WEF meetings will affect the pair, but other than that, no upcoming fundamentals for this pair for the trading day.
look at my justifications on my chart. Compare with yours, before taking action
Technicals show sell sentiment on 4H chart down. 1D and 1W are for a buy. short term i'd go short, if you can handle a swing, go long
Looking at the chart on the 1H TF, it's pretty good for a sell. I'm in it rn. Let's see
- market below the cloud
- conversion under base
- ADX and DI- signals over 20
- SAR over candle
There were dips and ranging for a while from what I've been seeing. This could be another range.
Fundamentals for the Yen are coming up. We have the Revised Industrial Production, and the tentative news on the BOJ policy rate, the BOJ Outlook report and Monetary Policy Statement. The last two would be high impacting news if they do go forward with it. Or when they do. Whether it happens tomorrow or not, it will happen eventually
On the technical side of...
Finally looks like we have the drop that it seemed most of us were anticipating. The market is currently below 114.00, which I believed would have been the point where the market turned. Granted, I expected the uptrend to last a little longer. But it makes sense. As I said before, the 1W resistance would be a stronger level to get past. And considering I haven't...
2 TFs here - 15min and 1H
it's going for a sell in the 15min TF. next 5 mins, check the candle and see how far down it gets, and if you can get in on it
on the 1H, I set a buy stop, with TP at the weekly resistance i pointed out earlier.
keep an eye out. things may turn against the sentiment.