To confirm our analysis we are looking for a consistent dominance of demand over supply. Volumes are low in general but up moves are supported by higher volumes (21 day average volumes) and pullback even lower volumes. Price spreads are widening with the up move evident in TDI above 50%. The reactions at LPS are on smaller spreads and diminished volumes. Price is...
We continue to move up along the cloud but we have nearly reached the target area. In the next two weeks we should have reached the confluence area and will be looking to trade the bigger impulse CD wave down. This week it will have to break the YearlPP first to be able to finalise the BC leg.
This is my first Panoptic Weekly Map. @Ichimoku_Trader (www.tradingview.com) started publishing these as weekly planning charts to help traders. He has selflessly helped many traders understand the markets through his Panoptic Method. With his help this is my first weekly map using this method. Look for a retrace to the buy zone before going long on a micro ...
This is to update my previous view on where the Rand will go. The Municipal elections are approaching at the beginning of August which potentially could be the start of a political power shift in the country (or maybe not). However, I think there that investors sill be cautious in buying Rand before the election. With USD strength and resistance at the yearlPP we...
Dear Community, today we are presenting you a more aggressive Ichimoku Kinko Hyo Approach - combined with simple price action and support levels. A Picture is Wort A Thousand Words In this case the picture is the chart and by looking at it it becomes fairly clear what the idea behind this long trade is. The support level at ~1.4480/80 stands strong and sends...
Similar to the NZDUSD pair we are looking for the breakout in Phase E to start of a Wyckoff view of the market. In Phase D if the analysis is correct we should see a consistent dominance of demand over supply. This is evidenced by a pattern of advances (SOSs) on widening price spreads and increasing volume, and reactions (LPSs) on smaller spreads and diminished...
The USDCAD reacted to the Yearly Pivot Point last week but showed some recovery at the end of the week. I am still expecting the pair to move to the confluence of the cloud and the 50 weekly SMA. The Chico Span is still bouncing between the 50SMA and the cloud. The target should be reached in the next two weeks and then we can trade the larger move down of the...
Apparently the mark-up has not started. The NZD is showing weakness with divergence on the TDI and a break of the 21 Day OF. A great analysis by @IvanLabrie () seems to confirm this weakness. So I was too quick to call the start of Phase E. In Phase E if the analysis is correct we should see a consistent dominance of demand over supply. This is evidenced by a...
As a South African we are all wondering where the Rand will go. I do not trade the Rand but while it is strengthening you could consider buying ZAR as a carry trade. With the uncertainty around the upcoming Municipal elections the Rand could weaken first before completing the ABCD correction. There is also the looming downgrade to junk status. Around...
- Conversion line it's above the base line - Span-A it's above Span-B - Price it's above the kumo I'm going long if Chikou (lagging line) crosses above the price. Buy order between 1.30865 and 1.31880
- Conversion line it's above the base line - Span-A it's above Span-B - Price it's breaking the kumo I'm going long if Chikou (lagging line) crosses above the price. Buy order between 0.98359 and 0.98818 with potential target at 0.99374
- Conversion lince cross above base line; - Chikou above price. I will buy when the next candle open!
I have been adjusting my view over the past weeks. My main view is that we are in an accumulation phase using the Wyckoff analysis. Sticking to this view we could have seen a back-up (BU) to the last point of support (LPS) at the resistance lines. If this holds we are now seeing the final test of supply around the area of resistance before a more substantial...
The USDCAD has been correcting from the initial move down. On the weekly time frame the Chico Span has been following the top of the cloud for the past 5 weeks. I expect the move up to continue for a further two weeks before continuation of the bigger move down.
The markup phase has now started. We see a breakout following a 21 day oscillation frequency channel. In next week I expect a markup to the first areas of structure which is also the top of the channel before a correction.
The Kumo is still acting as resistance for the Chikou Span on the weekly time frame. Price is correcting to the bottom of the Kumo on the BC leg of the larger ABCD correction. This is also the LML of the Pitchfork and 50 week SMA. Still expecting the price to rise in the next week before completing the bigger CD move down.
On the weekly time frame the price has broken the Kumo but the Chico Span still has to break. We could see some consolidation at the final resistance before the final mark up. Looking at the daily time frame the final consolidation before the mark up could occur before the final breakout of the 55 Day Oscillation frequency (OF). The Kenjen sen, Tenken sen and...
On the weekly time frame price and the CS is in now in the cloud as previously posted. Looking on the daily we see signs of strength (SOS) with volume increase after the spring in Phase C. We are seeing a significant back-up after the break of the resistance. After this has completed most likely also on the completion of the Garley Pattern the we will go into the...