1. PA in weekly is Still Bearish, but with long possible bullish wick.
2. Wave Analysis is still in lower high.. Trend is still Bear.
3. Support an Resistance wise, Slight Bullish.
IMO, late to short but kinda early to long for me,,
Cheers
Sonic
1. As long as the price is not above 1.415x
2. Better to bring trend on your side (Wait for PA becomes Bearish)
3. Sell with small lot as it is counter trend.
We may see 1.342x again
Sonic
USD rate hike as expected, and now we are kinda in the different ball game now.
In TA, I am seeing UC0.00% is being extended too fast too furious rise of this pair and it is obviously due for correction from 1.400x level.
In Weekly TF, it was such as Bullish Bar, that means Bull are still in control, so Shortist have to be nimble and go with small lot as trend...
To create a major up trend you need to see the extremes of this process at work. (Volume spread analysis)
Here we have a potential succesful test where major players test the water to see if there is any supply before they will initiate a big move. Besides that, we have a potential Dragon Pattern with a Bullish RSI Divergence and we can almost call it a bullish RSI BAMM
While testing with different Volatility BAND's within my PRICE/VolumePressure Indicators, it's funny how patterns come to live... Here at Monthly TOP's..! :D
1 - This is an effort to rise, but next candle is down. Not much result from the effort
2 - Narrow bar on new high and increasing volume: buyers are finding sellers up here
3 - Here we find support since the bar is narrow, volume increases and next candle is up
4 - Again, the effort doesn't produce a result and price falls, but the candle closes off the lows. This...
I bought United States Steel yesterday @24.99. Although yesterday's close confirms the test, the volume is low so the stock could rest again, but the background seems in favour of higher prices.
Detailed analysis:
1 - A sign of accumulation: high volume candle with a narrow spread that touches new lows but closes on its highs. The next candle closes lower and...
1 - Long spread candle on high volume that closes slightly off its lows, but the next candle is up on increasing volume. Notice also that the next candle touches new lows. Accumulation starts here
2 - A low volume narrow spread candle: lack of demand
3 - Again a high spread candle on high volume, the next candle touches new lows but closes higher: another...
1/2/3 - Accumulation signs: down bar on increasing volume that close off their lows
4 - Strong sign of strength: after a series of tight closures on high volume, this candle touches new lows but demand enters and the candle closes up on ultra high volume. Next candle closes higher and confirms that the volume was buying activity
5 - Effort to rise candle on ultra...
Be careful: this is a low cap stock and the analysis below is purely technical. Please check fundamentals of the company.
1 - After a period of accumulation (high volume on down candle but little downswing and tight closures), we have an up-thrust on ultra high volume that closes on its low but next candle is up on high volume: supply/demand dynamic is changing...
1 - Sign of strength: Ultra high volume on down bar that close in the middle and the next candle is up
2 - Lack of selling pressure (very low volume on down candle)
3 - Long spread candle on high volume that closes near its highs: effort to rise
4 - Sign of weakness: ultra high volume candle that closes off its highs and the next candle is down. There still are...
I see that we've recently completed a short-term AB=CD pattern. It was actually structured extremely well, with price reacting to the Golden Ratios beautifully.
What intrigued me, however, was how the Volume played a factor, at least retrospectively.
I didn't point this out on my chart but here's how:
From the bottom of A up towards to B, high volumes produced...
