Price is breaking above a descending trendline on H1 chart on bullish divergence. On the daily timeframe we see price trading below the Cloud but without any follow through. Resistance is at 1.33 and slightly above that the Weekly pivot point at 1.37. Also a S/R level intraday at 1.32. These levels combined make up a resistance zone. If price breach this zone...
It has been a week of consolidation were price has been going sideways in the range 10500-11800. There is a Hammer candle still active from Jan 17 when price almost traded the Monthly S1. Overall, trend is bearish both using Ichimoku and MACD, but the last week this hasn't been reflected in pure price action, a situation that can be called bullish pressure....
The pair has tested the upper Cloud and is currently at the support around 11500 which is also the Monthly pp. On the H4 timeframe we see price breaking lower but with bullish divergence. Since there is strong support on the daily timeframe and we also see a typical bear trap, with divergence on the H4, chances are pretty good for a bounce from here. And if the...
Price dropped below the Daily Cloud and trend has turned bearish on this timeframe. On the 4 hour chart to he right, we can see how price has tried to break above the descending trendline but has failed every attempt. Though price took out the low from Jan 22 on this sharp drop we just saw, there is bullish divergence (and also hidden bullish divergence between...
Price has found support by the slightly ascending SMA200 and then entered the Cloud resistance area. It even made a tentative close above it, but failed to make a 2nd close. It is currently trading inside the Cloud as trend has turned neutral on this timeframe. The pattern is that we see ever more narrow swings in a congestive manner. Bulls would ofcourse want to...
Price just bounced off the HMA200 and returned inside the Cloud without finding support. On the right side we can also see Bearish Divergence between the latest tops, which warns of a move down and taking out of the 10890 low. A close below that level will expose the Daily S1 and low around 10050. If price manages to find support by the Daily pivot point and...
Price is trading in a terminating Triangle pattern and is testing the higher end currently. The congestion may end with a sharp breakout in either direction, and currently the bias is to the upside. But if price fails here and falls back below the Daily pivot point at 1.3225 we might see a run towards the lower end of the Triangle point.. In most instances will a...
We are seeing sideways action since Jan 21 were price has been sticking to the lower end of the Cloud, just below the Weekly pivot point at 1.3680. The projected Cloud is twisting and turning with a knot. And a remarkable row of dojis can be seen from the last days movements. Oftentimes these dojis precede a sharper move in either direction. Yesterdays price...
Despite some bullish signs on intraday charts it is the daily timeframe that is the governing one, as we see a continuation down after the retest of the broken Cloud. There has been some bullish pressure as seen on the MACD indicator but currently price follows suit and moves down. The Hammer from Jan 17 is still valid but will be erased if price moves below 9222...
Price has entered the Cloud and tested the lower end of it by producing two clean dojis. Previous close was above the new Weekly pivot point. The situation is similar to Bitcoin/usd but slightly more bullish. If price advance and close above the smaller Flag channel we might see a breakout from the Cloud as we also see a bullish Cloud twist. Only a close below the...
Price has entered the Cloud and we see three doji like candles right at support by the lower Cloud and the Yearly pivot point. If price closes above the new doji and the Weekly pivot point at 11725 and Daily pivot point at 11820, I believe we will see more upside, as we also see a bullish Cloud twist. Immediate support is at 11350 and below that some lows at...
Price has moved down from the resistance at 1150 level and is now by the Yearly R1 which has acted support during 2018, on close basis. On H4 price has bounced off the lower end of the Cloud and there trend is bearish. On the hourly chart to the right, price has also shifted trend after failing to find support during today session. It stands just above the 1000...
An Evening Star candle stick pattern has been formed which warns of a move down. Daily S1 is at 11840. Above that is the top at 12050. A close below the Cloud from here would give an Ichimoku sell signal. If price manages to stay inside the Cloud chances will increase for an upside break, as time passes, since the projected Cloud is getting closer to a...
Neo is trading sideways after the sharp bounce off the horizontal support by the Monthly R1 at 96, which also aligned with the SMA200. Currently we see an attempt to reach the upper end of the Cloud. The projected Cloud is bearish which will add resistance at that level, 156-60 zone. If price breach it we might see a spike with a return to the Cloud for a...
Price is currently contracting by the Weekly and Monthly pivot points which aligns with the breakout level of the descending channel. On this timeframe we can see a Flag pattern being formed. We can also see how price is closing in on the Cloud. Normally it will spark a reaction when price trade it. If price manages to close above the Flag and enter the Cloud...
On Jan 16 price broke lower and created a sell signal after which it has returned and is now testing the breakout level and the Cloud, on the back of a Hammer on Jan 17. If price manages to close inside the Cloud , chances are we will see a deeper move up, towards the Monthly and Weekly pivot point cluster at 14250 and above that the upper Cloud. Ultimately, a...
Price has found support by the 0.875 level and is trading within a narrow descending channel. Currently it is attempting to break above the resistance at 1.60, which is also a higher timeframe pivot cluster. If we see price shoot up and close above the 1.60 level it may spur more upside with ultimate resistance by the lower end of the Cloud. Bulls would like to...
Price has bounced during Asia session and is now retracing some of those gains, as it has hit the intraday support at 10750, which is the confluence of Daily pivot point and Weekly S2. If price closes below it , we might see a deeper move down towards the current low, but chances are this level will support price, as we also see a MACD cross coming. If price...