NiftyNifty has completed a Bullish Harmonic Reciprocal AB=CD at the crucial support of an Ichimoku Span A of a bullish Kumo.
If it manages to sustain above 15575 the reversal will get sharper. One can wait till then and take action accordingly.
Senkouspan
Bitcoin Edge to EdgeBitcoin has closed within the 8 hour Ichimoku Cloud and could be looking at an edge to edge move inside of the cloud.
The Tenkan (blue) has crossed over the Kijun (orange) which suggests a bullish continuation.
Bitcoin Daily Ichimoku ForecastFuture forecast for the Tenkan (blue - short term moving average), Kijun (orange - long term moving average), & Senkou Spans (cloud - red resistance & green support) is provided on the chart for the daily timeframe.
Two Possible Correction Paths After 3D Ichimoku TK CrossFirst we take the 1D Kijun line and add it to our 3D chart where we recently observed the TK cross to the downside. This will serve as a major level that we could revisit in the short term.
Second we look for our long term support area. I see this being around 30k due to volume and the long/flat areas of the 3D Kijun and the 3D Cloud.
Third we look for an alternate path if we were to continue to the downside in the short term rather than revisiting the 1D Kijun. This would probably be Senkou Span B which is the bottom of the 3D cloud.
Ultimately, whichever route we take in the short term, should result in a continued consolidation within the 3D cloud before we breakout to the downside towards Long Term Support.
Canal breakout might lead VIX to $50On the 4h candle chart, we can see the range of candles is very narrow along the small decreasing channel, showing the some sort of consensus around the price of the VIX.
We can see the RSI also evolves in such a channel.
If the pattern would come to break, the VIX would probably come to test the Senkou Span B ($50) of the Kumo which is one of the strongest resistance in the Ichimoku system.
A possible trade is to enter at the channel breakout (which beautifully coincide with the breakout of the Tenkan Sen) and target a bit below the $50. You would have your stop loss at $41 just below the lowest red candle.
EUR/USD - SELL - Downtrend ContinuationLooking at EUR/USD on the D1 Timeframe, from a technical analysis stand point the market is currently ranging within a descending channel, making new lower highs and new lower lows.
I see the market moving as a bullish retracement making new lower high being made on the 23.6 fibonacci level. This is confirmed from the strong bullish pin bar signal after touching the support of my descending channel
Ichimoku Kinko Hyo is also showing me bearish signals which solidifies my statement. Chikou Span is currently below price pointing downwards. The market is currently below a bearish kumo cloud as Senkou Span A is acting as a strong resistance, which is in line with my 23.6 fib level.
Ultimately, before making SELL order I am going to wait for a reversal on the bullish retracement, I will be looking for bearish candlestick patterns on my 23.6 fib level
$OSTK bounce off cloud support, bullish Senkou span cross.To understand the recent low volume selloff take a look at a Bitcoin chart. The price has seen a corrective move back to support. While OSTK is highly volatile this price level will likely hold before the next leg up to $24.80 - $25.00.
Today appears to be critical but the uptrend still holds even below these levels, if the cloud support does not hold the next level of support is $16.38, this price will also coincide with secondary cloud support in a few days.
The Tenkan and Kijun cross, the could flip as well as the demonstrated cloud support are all bullish indications.
Healthy traffic levels on overstock.com over the last quarter are likely to have a positive impact on the upcoming earnings report along with progress made by several of the Medici Ventures brands in their markets of tokenized securities, land titles and voting on the blockchain. Short interest is maxed out.
The possibility of an announcement this month or next having to do with the sale of the retail operation coupled with the possibility of a venture capital investment in their blockchain startups gives OSTK a lot of upside potential and the market is taking notice.
Technical + Fundamental on USDCHFUsing the Ichimoku clouds TK Death Cross Strategy, I can see an incoming strong sell signal, This is due to the Tenkan-sen crossing the Kijun-sen from above to below. To solidify my signal on the TK Death Cross the current Chikou span is below the price of 26 periods ago and price is below the Kumo cloud, although it is currently thin, I expect it to expand in the future. Price has also made a retracement from resistance back to the support level of 0.97956 and is looking to continue a downtrend after a prolonged consolidation.
Fundamentally, tomorrow awaits the United States' results on CB Consumer Confidence, this measures the consumer confidence in it's economic activities. Analysts forecast a result of 126.8. A higher than expected result may influence price to violate Ichimoku's analysis, although a lower than expected result will compliment my Ichimoku cloud analysis.
BTC Inverse Head & Shoulders pattern + Ichimoku possible bounce BTC Iverse Head & Shoulders pattern + Ichimoku possible bounce from Senkou Span B line
NZDUSD looking for the mark up phaseLast week I was wondering if we reached the ind of the ZigZag. On the weakly time frame price has broken above the Kumo. Looking at the daily chart the yearly pivot point has been broken and retested as support. The 55 day Oscillation Frequency (OF) around the Senkou Span B has held since September 2015 but now a break to the upside is indicating that the market could be reacting to the 21 day OF going forward. The Tenkan Sen, Kijun Sen and Kumo on the daily chart are all long. Further, some volume is starting to come into the market with the 8sma of volume rising above the 21 and 55sma.
