WALMART OUTLOOKThe chart looks extremely annoying, having lots of small candlesticks (->no Momentum=no trend).
I would recommend to watch for high volume plays.
As always I draw my expectation on how the stock could move in the future.
Volume Indicator
USDCAD Short (Daily)Sharp bounce off t resistance area/boll band, looking to target next area of demand, possibly going down lower. First marked rectangle would be TP1, other marked rectangle TP2. Small remainder of the position can be kept as a trailing stop loss, too.
TRADING IDEA , NOT AN INVESTMENT OPPORTUNITY. TRADE AT YOUR OWN RISK!
Xrp in a huge falling wedgeBullish pattern
Could make one more low around 0.5 firs. Depends on bitcoin
Declining volume with decline price on the daily = bullish
Whats your opinion?
JSE:TON Tongaat FailingWe had been seeing buying in Tongaat but that is over now. Now we see signs of weakness (SoW) that could take us back to the lows. The distribution was very weak and an acceleration of the markdown is now expected.
JSE:FSR Fistrand Failing at ResistanceA year back - see post below - we looked for push back to R55 - R60. After reaching this area of significant resistance on the weekly timeframe we have now seen a distribution trading range with a typical Wyckoff pattern. Selling pressure is seen in the volume and a change in character significant bar is indicating the start of a markdown to test the covid lows.
JSE:SOL Sasol Markdown Set to Gain MomentumAfter following the markup in 2020 - see posts below - we have seen a distribution trading range in our previous post. Now this markdown is set to gain momentum with high volume selling taking place. Today's reversal bar confirms the basis.
Diverging 3 Day MA Price Channel and RSIQuick chart showing two recent trends. On the left you see a 3 Day MA BTC price channel trending up while the daily RSI trends down, leading to the May Crypto Crash. On the right you have a 3 Day MA Bitcoin price channel trending down while the RSI trends up. An additional observation is that both trends coincided with waning volumes. Waning volume can indicate tired trends. Combined with the Bollinger Squeeze, Bitcoin seems coiled for a big move. Macro Long, Micro Agnostic. Follow us on twitter at @CoinBumpChart for more insights.
JSE:CFR Richmont Remaining Very StrongAfter the initial markup - see posts below - we have seen a very shallow pullback. The pullback showed a lot of effort (high volume) without response indicating that all available supply is being bought. Yesterday there was a significant range bar and the markup is now set to continue.
DDS Consolidating finding SupportDDS is showing that it has stopping volume coming in not allowing it to go any further south preparing to head higher to ATH’s.
AUDJPY - ShortThe very first time that Volume in down movement is greater than upward, it means we are ether in pullback after PSY, ST(A), or ST(B). All in all, it means we are close to the end of the uptrend.
After that, we will see that the movement to the down has more volume than up movements.
GOLD Future - 06 - Update 07/07/2021 and Forecast The Target Profits indicated last week were both taken.
Today the Long and Short Targets have been updated for the next 7 daily candles.
Totally from the forecasts published last two weeks, we took 9 short and 14 long points.
Good trade to all... ;-)
GBPCHF | SHORT | Areas of InterestDaily Trend: SELL
LP Sentiment: -23%
Looking for a pull back into the Sell-side imbalance area for a continuation back into the downward trend.
Focus on seeing this setup happen in the London Session.
Don’t forget to follow us on tradingview
Happy Trading
Mr Ionic
JSE:PRX Prosus Going SouthAs expected Prosus keeps following Naspers down - see posts below. However, Prosus is weaker than Naspers and has already broken the yearly pivot point and the recent redistribution remained below this. Again the high volume selling is seen indicating some urgency to dump the stock. Today we see the breakout of the recent redistribution trading range and this week could see more panic selling.
JSE:NPN Naspers Breakout Following the markdown of Naspers - see posts below. After a smaller redistribution range, we are seeing a break out of this smaller range today continuing the push lower. The next important level down is the yearly pivot point at R2800. In the smaller redistribution range, there was a particularly high volume upthrust (ut) indicating the selloff is gaining momentum and some panic selling is happening.
JSE:J200 Looking WeakAs indicated in the post linked below I a break of the trendline could start the markdown. We have now seen this break and a backup to the breakout level. The break occurred on some volume and the attempt to recover could not break the 50Day SMA and could not stay above 60000. This looks very weak and this could be the start of a markdown.
Gbpusd sell 70 pip gain
This is an easy decision to sell with all this momentum and buying pressure we are seeing. I expect it to hit 1.37000 but we will take profits a bit earlier. The bulls have lost buying power and now the bears are taking control of the market. Time after time, the bulls failed to push price up and break any of the trend lines I have set in place. But now we got a beautiful fall in price. I expect a slight pull back but nothing enough to exit a trade.
BUY UsdjpyThis has been in an uptrend and it finally broke support and retested. It has a lot of momentum with it now. This is the perfect time to get in and ride to the next zone. After it touches or looses momentum we will exit which we expect to see at resistance.
JSE:SOL Sasol Time to Let it GoWe have been following Sasol sins the climax lows in 2020 indicating a target of R200 - see the progression of posts below. We have reached the target and now we are seeing active signs of distribution. After a climax in March, there was a strong secondary test but the next upthrust (UT) on volume made no progress (Effort without Response) indicating selling by the big players. A change in character was seen in June with an increased downward spread on volume making signs of weakness (SOW). The latest attempt to rally could not break the 50SMA and after a key reversal bar, it is time for Sasol to drop potentially retracing all the gains of the last year.
BTC wyckoff Accumulation back in 2015I think taking a look at the past is one of the best ways to predict the future. History repeats itself over and over again.
Wyckoff always emphazised Volume as the best Indicator. He also challenged us to ask ourselves "what is the composite man doing right now?"
I think he was spreading FUD like crazy, while accumulating
Phase C
Remeber what the Spring aka Shakeout is: It’s usually the last attempt of the Composite Man to acquire shares at cheap prices before the mark-up move. Creating selling pressure forces retail traders to think that the current trading range will end in the mark-down movement (along with FUD) and exit or reverse their positions. The Composite Man waits for breakout to create enough liquidity and then rapidly covers all available supply resulting in price getting back into trading range.
Test: A small retracement to check if there is enough support at the bottom of the trading range after a shakeout. The Composite Man stops his buying pressure (as we see on VOL) and checks if the market has enough demand to not let price fall below the trading range. If so, the market is ready for the mark-up move. If not – the Composite Man continues his accumulation of available supply
Phase D
LPS: is the reaction after a Test rally. It usually retests previous levels which were considered a resistance. These reactions are usually quite slow and have no volume (as we see right now!)
Right now for BTC the VOL should stay low, because the Institutions stopped buying and manipulating, to check if the retail is ready to push the price up, or if there is any major selling pressure. This might take a while and might be a little more back and forth than in 2015. Once we break above 40-42k and CONFIRM it as support the Volume will come back in and from their we good.
JSE:AGL Pullback Gaining MomentumAs indicated previously - see post below - Anglo American is ready for a pullback and is now gaining momentum. Still looking for a test of R400 to determine what is next.
JSE:J200 Effort Without ResponseThe Top40 has been on the rise since the covid lows, however, we can now see some cracks and we could be in for a correction back to 53000 for the rest of the year. My reasoning is as follows:
- The buying climax (BC) of the latest trading range could not make it back to the overbought line showing a lack of interest.
- Divergence on the RSI leading into the BC shows the interest to push higher is gone.
- The effort (increase in volume) with each attempt to push higher could not make higher highs.
Based on this it looks like that a break of the trendline could open the path for a drop back to 53000
Helium going to hold support ? Helium (HNT) is at weekly support.
Not far above the point of control of this range.
This is a nice time to ladder into longs. if prefer to wait until the point of control or even the weekly that lines up with te value area low (VAL).
I'm going to set alarms at these point to asses if these places are goog long opportunities.
But al that mathers offcourse is BTC. if the big lady is going down or up , alts can only follow.
Shorts at the value area high (VAH) and daily, with the golden zone looks like a confluence zone.
