Sometimes you have to put things into perspective.
I'm not saying AUDNZD can't go up anymore.
Look at the breakout in March.
Or even look at the dotted line I've drawn.
It can still go higher.
I am saying though that taking distance for a moment and looking at it from far away can never hurt.
I'm posting my observations here to document my progress.
XLU - the SPDR utilities sector ETF is struggling to get back into macro uptrends, while showing no bias on short term.
On long term perspective the price is trading around upper 1st standard deviation from 5-year mean, which is a 5-year uptrend border. The price is also technically in 10-year uptrend, trading above the upper 1st standard deviation from 10-year...
XLB trades within uncertain territory both on macro and micro basis.
On long term perspective price has failed its 10 and 5 year trends, and now trades between 2 macro levels - the 5-year mean at 41.50 and the 10-year uptrend border at 46.50.
On short term perspective price also showing no particular trend - XLB is trading within 1st standard deviations from...
XLI holds 10-year uptrend at the august selloff, but did not yet recover its 5-year uptrend.
On long term perspective price has failed its 5-year uptrend (fell below 5-year uptrend border) and tested its 10-year trend during the august selloff (tagged the 10-year uptrend border). The 10-year uptrend test proved successful and the price has been recovering since...
First Thing that I always do is to find the map and see where is the price and where it wants to go.
I have seen a bearish Elliott Wave with possibility of correction wave to a little above wave 4 which I named it as Point E right on R5 Trend. (Based on Elliot Wave Principle).
And Also I see a Double Bottom Pattern that gives more significant to reach point E....
I had a request from a friend to analyze USD/TRY:
On daily perspective I saw a nice classical Elliot Wave with double zigzag till point E correction waves.
Before starting the analyze I want you to eliminate the harmonic pattern that I draw there; First we start with trends and the potential of opening trade. PA (Price Action) creates trend and trends give us...
As slowly we go on I bring up more technics on my perspective.
I had an email from a friend he required me to explain more about orbit and its functions.
Well, to be honest drawing orbits beside trend lines is my personal secret and idea.
What are orbits and how we can use them in our perspective in order to reduce risk:
I believe that price are turning around...
USDCAD has now broken previous resistance as well as breaking a strong trendine. We could now potentially see price making its way up to the 1.27000 area.
1. Bearish divergence
2. Resistance zone
3. US disappointing economic data
4. US won't raise the interest rate !
5. Euro relief rally
5. "Educated guess"
Much a do was made about February's gains but it was less than 7%. A similar move was made in January of 2013 and an even bigger move was made in October of 2011. So here's some perspective on the monthly moves that were made in the DOW. Notice how the only 10%+ moves (Blue) were made going down.
PayPal news seems more likely to be a reason/excuse to pump rather than a catalyst to the temporary bullish momentum in the current bear market.
4 hours RSI today still shows an underlying weakness in the market with its inability to break out of the trend developed over several months since the fall from the 680 rally. We are also hitting an upper resistance...
