Here we go with the weekly analysis of this giant. I use monthly analyses only to guide me in my weekly analyses, so I constructed the pitchfork accordingly (you may see the monthly analysis as a linked idea below). The consolidation takes place in the range of 1-1.236 extensions of the A-B swing, shown in chart. The price is seemingly continuing its latest...
We have an upsloping channel here, which recently pushed the prices up from a key zone. The latest move beginning from August 2015 is seemingly an impulse going above the .5 Fib TL. If this bullish move manages to settle above the .5 Fib TL, thereby breaking out the old highs, it means the continuation of the validity of the channel. The Stoch has shown weakness...
The downtrend in this pair has shown weaknesses throughout its development. The .33 speedline drawn at the 0-I swing has proved to be a strong support, rejecting the price many times and finally halting the W3 (this is how I prefer to write wave 3 of an Elliott impulse in short). That was also the point where the Stoch made its bottom, after which a flat...
The Schiff pitchfork in TV is a bit different than how I utilize it. I use the midpoint of the prior swing (the Schiff swing) as P0 to construct Schiff pitchforks. The predefined modified Schiff pitchfork of TV yields a similar picture for this particular chart, too. Now the big red candle shows great bearish strength, since one should not expect such a motivated...
The price returned from UWL-1. Stoch shows reliable weakness with %D and %K moving away from each other. It is likely that we see this downward move continue until the Stoch reaches the trendline and/or the price reaches UMLH.
The price for this pair has recently been strongly rejected by a powerful confluence of downward forces. It is highly likely that we will see it goes down to the main body of the major pitchfork. But the SL might be retested before that. Stoch must be closely observed for confirmation. A typical action involves Stoch going down to the oversold zone, then quickly...
Looked from a global perspective -together with the pre-1994 data provided by IDC- this pair seems like in an eternal bear trend. Yet the move beginning from the 2007 top has shown an immense downward pressure, which met resistance around parity twice. Was the January 2015 bottom the absolute bottom for this move? Lower time-frames might provide information to...
Since the beginning of 2015, this pair has been trading in a key zone, which is .618 Fib level and also the previous high. The price pitchfork in the chart is constructed with a suspended P2 pivot using the action-reaction principle. As seen, the recent activity has shown weakness against UMLH, which indicates a retest of the median line. The fact that price has...
Hi fellows, This is my first post here. I will try to give long-term analyses for the instruments I've been watching as I learn the charting abilities of Trading View. I consider myself as an intermediate-level trader with 2 years of experience. I started trading with cryptocurrencies , made a lot of quick money, then lost it all. Sounds familiar, eh? Then I saw...