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Volume Indicator

NZDUSD Rising Wedge|Structural Resistance|.618 Fibonacci|200 MAEvening Traders, Today’s Analysis = NZDUSD – trading at key structural resistance in a bearish pattern, a move down is probable. Points to consider, - Trend rising wedge - Strong structural resistance - Local support confluence - Oscillators divergence - Volume declining NZDUSD’s immediate trend is in a rising wedge pattern with price action close to structural resistance, the immediate bias is bearish. The local support has technical confluence with the .618 Fibonacci and the 200 MA. Price is likely to respect this area when tested. Both oscillators have immediate bearish divergence; this is in confluence with the rising wedge, enhancing the probability of a break down. The volume profile is declining, sign of weakness in PA, an influx is probable at key trade locations, i.e. break of rising wedge. Overall, in my opinion, NZDUSD is a valid short with invalidation above structural resistance. The immediate price action is to be used upon discretion/management of the trade. What are your thoughts? Thank you for following my work! And remember, “No man ever reached to excellence in any one art or profession without having passed through the slow and painful process of study and preparation.” – Mark Douglas
Short
by AzizKhanZamani
4
RENBTC Double Top| Impulse Sell| Structural Support|21EMAEvening Traders, Today’s analysis –RENBTC- impulse sell coming into structural support where a bounce is probable. Points to consider, - Local double top - Support flipped (local resistance) - Structural support confluence - Oscillators above 50 - Volume below average RENBTC had an impulse reaction from its double top region, breaking a key level now turned local resistance. Structural support is the immediate trade location; it has technical confluence with the .50 Fibonacci, a bounce is probable at this key level. The 21 EMA and 200 MA are visual support guides; price likes to back test them with each impulse move away. Both oscillators are above 50, returning to neutral territory. Trading above the 50 mid-point gives a bullish bias on the market. The immediate volume is below average, an influx is probable when approaching key trade locations i.e. structural support. Overall, in my opinion, the structural support region is likely to be tested which will allow for a valid long with defined risk. Price action is to be used upon discretion/ management of the trade. What are your thoughts? Thank you for following my work! And remember, “a greater probability of one thing happening over another. In a sense, technical analysis allows you”― Mark Douglas
Long
by AzizKhanZamani
CADJPY S/R Flip|Oversold Bounce|.618 Fibonacci|Volume InfluxEvening Traders, Today’s Analysis- CADJPY – price impulse through key structure, an S/R flip retest will validate it as support. Points to consider, - Trend oversold bounce (RSI) - .618 Fibonacci (Resistance) - Structural support (S/R Flip) - Stochastics sell cross - Volume influx CADJPY trend impulse was due to oversold conditions indicated by the RSI. A swing lower failure will indicate continuation. The bearish .618 Fibonacci has been respected, price is likely to retrace for an S/R Flip retest. This will solidify structural support holding true. The stochastics has a valid sell cross which is indicative of momentum shifting in the market. A volume influx is also present, these influxes usually mark temporary tops. Overall, in my opinion, CADJPY is likely to retrace and hold structural support. This will validate a long trade with defined risk. Discretion is to be used upon management. What are your thoughts? Thank you for following my work! And remember, “If you can’t take a small loss, sooner or later you will take the mother of all losses.” – Ed Seykota
Long
by AzizKhanZamani
GBPUSD Swing High| Liquidity Grab| Local Support| .618 FibonacciEvening Traders, Today’s analysis – GBPUSD – in a technical area of confluence, a retracement to the .618 Fibonacci is likely. Points to consider, - Local trend swing high - Equal highs ( Liquidity grab) - Local support confluence (.618 Fibonacci) - Oscillators overextended - Volume increasing GBPUSD is testing a key level with equal highs. This increases the probability of a liquidity grab. Local support is the immediate target which is in confluence with the .618 Fibonacci. A retest and respect of this area will establish an S/R Flip. Both oscillators are over extended which is a sign that the market is overbought and due for a retrace. There is a clear influx of volume, this solidifies that GBPUSD is at a key pivot, follow through will fuel the direction. Overall, in my opinion, a short is valid with defined risk. Price action must be used upon discretion/management of the trade. What are your thoughts? Thank you for following my work! And remember, “There is a huge difference between a good trade and good trading.” – Steve Burns
Short
by AzizKhanZamani
4
KNCUSDT Higher Lows Structural Resistance|Volume Influx|.618 FIBEvening Traders, Today’s Analysis – KNCUSDT – bullish price action trading into its apex where a break will be imminent. Points to consider, - Consecutive higher lows - 21 MA support - Key structural resistance - Oscillators above 50 - Strong volume influx KNCUSDT has established consecutive higher lows under key structural resistance; this gives us a bullish bias on the market. The Oscillators are both trading above 50, further solidifying the short term bullish bias. Immediate support, the 21 MA, in confluence with the .618 Fibonacci, if price retraces it must hold as this area is the apex. A strong volume influx is evident, it needs follow through which is a technical signal of demand being present in the market. Overall in my opinion, a retrace to the .618 Fibonacci will allow for a valid long, risk is defined at previous swing low. This is front running the break so discretion must be used upon management. What are your thoughts? Thank you for following my work! And remember, “If you can learn to create a state of mind that is not affected by the market’s behaviour, the struggle will cease to exist.” – Mark Douglas
Long
by AzizKhanZamani
UBER Short| 200MA| S/R Flip| Supply Zone| Range Support Evening Traders, Today’s analysis –UBER- breaking range support bearish, the immediate target is the supply zone upon a valid bearish retest. Points to consider, - Macro trend bearish - Range support S/R flip - 200 MA resistance - Oscillators below 50 - Volume below average UBER’s macro trend has established consecutive lower highs, this helps determine the directional bias on the market being bearish. Price action broke range support; a bearish retest of the level will solidify it as resistance, confirming an S/R Flip. The 200 MA is a strong resistance that is in confluence with range support. This further solidifies the bearish bias on the market. Volume is currently trading below average; an influx is likely at the test of the support zone, profit taking area. Overall, in my opinion, a bearish retest of range support will allow for a short entry with defined risk. Discretion in accordance to price action must be used upon trade managemen t. What are your thoughts? Thank you for following my work! And remember, “You will never find fulfillment trading the markets if you don't learn to appreciate and be satisfied with what you already have.” ― Yvan Byeajee
NYSE:UBERShort
by AzizKhanZamani
2
XRPBTC Supply Zone|Range Resistance|.618 Fib|Increasing Volume Evening Traders, Today’s analysis – XRPBTC- deviating from rage trading back into structure, immediate target is taking out local high for continuation. Points to consider, - Macro trend bearish (counter trend) - Support confluence (.618 Fibonacci/ supply zone) - Range resistance - Oscillators neutral - Increasing volume XRPBTC’s macro trend is bearish with major levels yet to be broken. The immediate trend has established a lower high, building a bullish structure, keeping in mind this is still counter trend from the dominant bearish trend. The support zone is in confluence with the .618 Fibonacci, this is coming from the recent bull impulse. Price is likely to retrace back before another leg up. Range resistance is a key level to close above, confirming this will increase the probability of testing daily resistance. Oscillators are neutral in respect to price, remaining above 50 gives a bullish bias on the market. The volume profile is increasing evidently, this needs to maintain for trend continuation. Influxes are likely when breaching key levels. Overall, in my opinion, XRPBTC is probable to test the support zone confluence. This will allow for a risk defined entry for a long. Discretion is to be used upon management of the trade. What are your thoughts? Thank you for following my work! And remember, “The process by which one accumulates money is so simple, yet so hard to implement for most.” ― Yvan Byeajee
Long
by AzizKhanZamani
CADJPY Short|S/R Flip Retest| Local Resistance| Daily SupportEvening traders, Today’s Analysis – CADJPY – impulse sell through technical level, rallies are to be sold into as the trend is bearish. Points to consider, - Macro trend bearish - Daily support (immediate target) - Local resistance (bearish retest) - Oscillators below 50 - Volume below average CADJPY’s macro trend is bearish with consecutive lower highs; this gives us a bearish bias on the overall market. The trends immediate target is daily support, which will be apparent after confirming a bearish retest of local resistance. Both oscillators are below 50; this signals weakness in the market, further momentum down is likely. Volume is clearly trading below average; an impulse is most probable at key technical levels i.e. daily support. Overall in my opinion, a bearish retest will allow for a short trade, risk has to be defined. Price action is to be used upon discretion. What are your thoughts? Thank you for following my work! And remember, “The four most dangerous words in investing are: This time it's different.” Sir John Templeton
Short
by AzizKhanZamani
USDCAD Impulse Sell|Structural Support|.618 Fib|Liquidity GrabEvening Traders, Today’s Analysis, - USDCAD – impulse sell into structural support where a relief rally is probable. Points to consider, - Trend oversold bounce - Structural support (trade location) - Local resistance (.618 Fibonacci Confluence ) - RSI swing low failure - Market structure needs to hold USDCAD’s impulse sell hit oversold conditions causing the market to bounce at structural support. This is a valid trade location, the impulse bull candle back into support signals a probable liquidity grab. Local resistance is in confluence with the .618 Fibonacci, a likely area for a bearish retest, price context will be important here. The RSI has a valid swing low failure, must hold above extreme for it to remain significant. Price breaking below structural support will coincide with the RSI back into oversold conditions. Overall, in my opinion, USDCAD needs to hold structural support for follow through. A long trade is valid with defined risk – the immediate target – local resistance. What are your thoughts? Thank you for following my work! And remember, “If you can learn to create a state of mind that is not affected by the market’s behavior, the struggle will cease to exist.” – Mark Douglas
Long
by AzizKhanZamani
4
EURAUD S/R Flip| .618 Fibonacci|Range Midpoint|Oversold BounceEvening Traders, Today’s Analysis – EURAUD- impulse break through daily support, reclaiming the level. A retest of structure must hold for continuation. Points to consider, - Oversold bounce follow through - Daily support (S/R Flip retest) - Range Midpoint (Immediate target) - RSI neutral - Stochastics overextended - Volume follow through EURAUD’s oversold bounce had valid volume follow through; breaking back into key daily support, a retest needs to solidify the level. The .618 Fibonacci as overthrow is in confluence with daily support, giving the level more significance upon a probable S/R Flip retest. Immediate target for EURAUD is the range midpoint; taking out this level establishes a technical higher high. The RSI is neutral whilst the stochastics has a valid sell cross. This signals a probable momentum shift aligning with the price action S/R Flip playing out. In context, volume had follow through from oversold conditions, this shows immediate strength in price action, market is likely to trade higher. Overall, in my opinion, the immediate trend is bullish as long as key levels hold. A long trade is valid upon the probable S/R Flip, risk needs to be defined. Price action must be backed with volume for continuation. What are your thoughts? Thank you for following my work! And remember, “He who knows when he can fight and when he cannot will be victorious.” – Sun Tzu
Long
by AzizKhanZamani
XTZBTC Range Support| Bullish PA| .618 Fibonacci|S/R Flip RetestEvening Traders, Today’s analysis – XTZBTC – reclaiming its range, a retest of support will allow for a long entry with defined risk. Points to consider, - Immediate trend bullish (consecutive higher lows) - Range support confluence (.618 Fibonacci) - Range resistance target - Oscillator neutral - Volume below average - Long retest (risk defined) XTZBTC’s immediate trend is bullish with consecutive higher highs and higher lows. This gives us a bias that any impulse sells and oversold conditions are for buying. The range support is a key level that has been reclaimed; price is likely to retest this level as it is in confluence with the .618 Fibonacci. Range resistance will be the immediate target, breaking this level will be very bullish, continuing the trend. Oscillators are both neutral, remaining above their respective 50 level; this indicates bullish momentum in the market. The immediate volume is below average, this must increase for continued follow through, price action needs to be back with conviction. Overall, in my opinion, XTZBTC is probable to retest local support which will allow for a long entry with defined risk. Price action breaking below range support will negate the trade. What are your thoughts? Thank you for following my work! And remember, “Ultimately, consistent profitability comes down to choosing between the discomforts you feel when you follow your plan and the urge to let yourself be captures ( and ruled) by your emotions.” ― Yvan Byeajee
Long
by AzizKhanZamani
JSE:VKE Vukile Property Another One with Buying at VolumeStaying on the theme of weak stocks with some volume buying in the background Vukile is showing some strength in its weakness. The TR formed after the selling climax (SC) has been weak in the price action but the volume shows significant buying on the up moves. We are now testing the breakout level. Not quite ready to go in but a good reversal bar with some (but not necessarily lots) volume could be a good opportunity to go long looking for a retest of R20. Watching this one.
JSE:VKELong
by SteynTrade
JSE:ATT Attacq Another Risky One with Some Space to MoveLooks like there is some speculation in the market. Attacq has been very weak but looks as if there is some buying at volume. It may be a little early but worth a shot. After a selling climax (SC) price has been making higher-highs with minor sign of strength (MSOS) on the last up push. However, I will not that the price was unable to overcome the previous high. If you take a trade now I would carefully watch how it reacts at the TR highs but if it is able to break this we are looking at R10 and the yearly pivot point at around R13. giving a good risk-reward at this point.
JSE:ATTLong
by SteynTrade