Price tests the main levelUnder the previous idea I wrote about the fact that the price is more likely to continue the upward movement. Now a bullish pennant has formed on the 4 o'clock timeframe, which confirms the bullish mood. Therefore, in the near future, we are likely to see another upward momentum.
Analytics
The price goes upOn the 1D timeframe, an upward squeeze is formed, and a triangle with a flat top is formed. My priority is the upward movement as long as the price is kept within the triangle. If the price on the 1D timeframe is fixed below the lower border of the triangle, this will be a signal for correction, but for now the priority is ascending.
Lenta's stock price is expected to growConsider Lenta's shares on the London stock exchange. A wedge pattern has formed on the 1-month and 1-week timeframe. Globally, I expect this stock to grow .
EURUSD - Down:Hello dear investors and fellow traders!
• Comment on last week:
The single European currency ended the last week on September 7-12 ambiguously, although by the end of the week the euro rose by 8 points.
Macroeconomic data, which came out better than expected, all turned out to be extremely negative, and the new restrictive measures caused by the spread of covid do cause our concerns. Thus, Austrian Chancellor Mr. Kurz announced Austria's entry into the 2nd wave of covid.
The positive reaction of the euro to Madame Marin Lagarde's speech was caused by the disappointment of market participants' expectations to hear a tougher stance on the strengthening of the bloc's currency.
However, this reaction did not last long.
"Improving economic data in the United States and its deterioration in the Eurozone, corrections in global stock markets, geopolitical tensions between the United States and China, Brexit, an increase in the number of covid cases in Europe, restrictive measures and a record large position of speculators on the growth of the euro.
All these factors make it impossible for the euro to move upward without additional intervention from the Fed.
The outlook is bearish. "
Manager, WMCI Europe Fund
Melnikov Sergey.
• Technical analysis:
H1
The shift of High and Low levels is lower than the previous indicators. The currency pair broke through the ascending channel, but returned and these attempts met a decent resistance - a local triangle was formed.
H4
The pair demonstrates a highly significant support zone for the bulls:
1.1766-1.1752.
D1
Euro continues to consolidate after the recent rally, moving lines have gathered together, rsi continues to decline, although the pair remains in an uptrend.
Respectfully
WMCI
Better Analytic tools for StrategiesWith the plethora of strategies' data one can generate with TradingView's tools and indicators, the risk of being overwhelmed by information is becoming a real issue, with the consequence of losing precious strategies' settings and backtest results, hence making bad trading decisions.
As one period's market condition is likely not the same as the previous one or the next one, the same strategy that worked for one period might not be profitable anymore, but failing to remember a specific situation will likely result in future losses. Therefore, it is becoming vital to be able to create a consistent log for those different result to in/validate a certain strategy and the related market conditions.
This is exactly the purpose of the SmartSave extension for TradingView (free) that I created.
The extension allows you to save and view all your strategies and their backtest results in one spreadsheet with the ability to filter and sort the data based on multiple columns (Profit, Ticker, Time frame, Buy & Hold perc., etc.)
This helps you create a permanent log of all your strategies, results and settings to make more informed decisions.
The extension enables you to export all your data in CSV and JSON.
With SmartSave extension, none of your data is leaving your computer (except bug reports).
Google "SmartSave extension for TradingView" and enjoy!
Side note: If you make use of the extension and like it, please give it a Like on the Chrome store.
Gold H4 - Short SetupGold H4 - Mixed signals from gold at the moment, currently consolidating after a nice selloff on our H4 support region (H&S we marked y'day). We have had a couple of attempts to push higher, but seems we have formed a consolidation range (effectively our flag). Waiting to see if we crack below this 1928 region to set new lows and break support, from here on the retest of 1928 we could look to jump in short.
EURJPY: GLOBAL 2.0Greetings dear followers!
We glad to present our system of technical analysis to finds out levels and we present levels by all popular timeframes free.
We will update it every month.
H4:
• Supports: 124.30, 123, 121.85, 120,31
• Resistance: 125.47
D1:
• Supports: 124.03, 122.70, 116.83, 114.63
• Resistance: non.
W1:
• Supports: 112.16
• Resistance: 127.16, 132.88, 134.10, 137.21
MN1:
• Supports: 101.67, 94.94
• Resistance: 142.09, 148.51, 156.14, 168.80
With Kindly regards,
WMCI
USDJPY: GLOBAL 2.0Greetings dear followers!
We glad to present our system of technical analysis to finds out levels and we present levels by all popular timeframes free.
We will update it every month.
H4:
• Supports: 104.79, 104.20
• Resistance: 106.21, 106.65, 107.36, 107.87
D1:
• Supports: 104.44, 102.68, 101.15
• Resistance: 109.71, 111.72, 112.20
W1:
• Supports: 101.15
• Resistance: 114.21, 115.21, 118.04
MN1:
• Supports: 96.83, 85.89, 76.07
• Resistance: 122.03, 125.29
With Kindly regards,
WMCI
GBPUSD: GLOBAL 2.0Greetings dear followers!
We glad to present our system of technical analysis to finds out levels and we present levels by all popular timeframes free.
We will update it every month.
H4:
• Supports: 1.3017, 1.2954, 1.2893, 1.2768, 1.2648
• Resistance: 1.3172
D1:
• Supports: 1.2720, 1.2643, 1.2079, 1,1475
• Resistance: 1.3170, 1.3220, 1.3480
W1:
• Supports: non.
• Resistance: 1.4274, 1.4631, 1.5786
MN1:
• Supports: non.
• Resistance: 1.7184, 1.9319, 2.1168
With Kindly regards,
WMCI
EURUSD: GLOBAL 2.0Greetings dear followers!
We glad to present our system of technical analysis to finds out levels and we present levels by all popular timeframes free.
We will update it every month.
H4:
• Supports: 1.1711, 1.1590, 1.1541, 1.1460
• Resistance: 1.1907
D1:
• Supports: 1.1426, 1.1201, 1.0773
• Resistance: 1.1907
W1:
• Supports: 1.0894
• Resistance: 1.2070, 1.2474, 1.3966
MN1:
• Supports: 1.4932, 1.5840
• Resistance: 0,8495
With Kindly regards,
WMCI
Preload to resistanceOn the chart, there is a noticeable compression to the resistance. You can also note the reluctance of the price to update the lows, which is why a smooth reversal is formed. You can also see an inverted Head and Shoulders based on this, at the moment, the growth is most likely To observe the reaction of the price to the resistance zone.
GBPUSD ---> #3Good day dear colleagues traders!
Your attention is a technical analysis of the currency pair: #GBPUSD / GBPUSD # 3
#Technical analysis (D1):
The currency pair met with resistance traditional for this year - the 200-day moving average. As in previous times, the currency pair loses its speed and reduces volatility.
Meanwhile, we are all continuing smoothly located in the global downward channel, more locally in the triangle that holds back the current movement.
The resistance level for this triangle: 1.2720-1.2750.
Support level for this triangle: 1.2400-1.2380.
#Technical analysis (H4-H1):
On the lower timeframes, the upward channel is preserved and the current formation allows us to assume the fourth test attempt at 1.2670.
In general, the currency pair is holding well, but volatility tells us about the potential consolidation of global resistance.
#Indicative analysis (H4):
1. The 2nd MACD is trying to draw a U-turn.
2. RSI descended from the oversold zone to normal.
3. Keltner gave a signal for a trend reversal.
# Global variables:
A) Volatility:
- Daily volatility: 100 points
- Weekly volatility: 208 points
- Monthly volatility: 266 points.
#Forecast:
The main forecast for the current week is bullish, as the pair continues to be in the upward channel and enjoy steady demand when approaching the lower border.
The objectives of this movement are: 1.2720-1.2750.
An alternative forecast includes breaking the uptrend and fixing below.
In this case, we recommend opening sales with targets at 1.2532 and 1.2450.
Kindly regards
WMCI
!Attention: Trading financial instruments and (or) cryptocurrencies is fraught with high risks, including the risk of losing part or all of the investment, therefore it is not suitable for all investors. Cryptocurrency prices are extremely volatile and can change due to external factors such as financial news, legislative decisions or political events. Margin trading leads to increased financial risks.
Ltd ”Wermelgion & Co” and any provider of the data contained on this website disclaim liability for any loss or loss incurred as a result of trading transactions made with reference to the information provided.