Aussie 28.03.2017Aussie retraced last move down. There is no actual volume supporting move up, which suggest it is correction / redistribution.
Volumespreadanalisys
G6 FUTURES/GBPUSD Ascending Wedge Short Setup As we can see, price created ascending wedge short setup, there is also SOT formation which informing us that buyers are getting weak.. at 12 it was a large volume on the market so it was a signal that smart money are getting off and distribution is coming.. Sell a break of bottom trendline. I am expecting price will drop to first demand level around 1.2360 or 1.23250 on forex. Good Luck
GBPUSD Triangle BreakoutAs you can see price broke formed triangle after distribution phase on strong supply level. Wait for candlestick formation and enter for short. I am expecting price go down around 1.22300. Good luck
Pure Volume Spread AnalysisThe two red down bars marked by the up arrows indicates no supply ,
Long position can be placed to the shown 3 fibo targets
Ideal Bearish AB=CD Ideal Bearish AB=CD with an oscillator divergence and upthrust bar indicating selling
Selling is coming Price may go down in case the current bar closed red with low volume lower than the previous two bars
Otherwise , A climatic action may occur to test the red zone again with low up bar volumes
Emerging Bat Wait for the close of the current bar
according to volume spread analysis , a no demand bar give a good short signal
Sell May be comingWait for an up bar in the red zone "Supply Level" with a narrow spread and volume lower than the previous two bars , this indicates SIGN OF WEAKNESS "SOS" in a rising market which is a sell signal
Also a high volume bar closing near the middle within that red zone may indicate a professional selling
You can look for SOS by switching to lower time frames such as 15 min .
SOS - No Demand Bar Sell Low volume up bar with narrow spread lower than the previous two bars is a sign of weakness .
Wait the close for the current bar , it should be bearish to confirm selling
VSA Sell Signal . No Demands Volume Spread analysis shows signs of weakness by the no demand bars shown by the red arrows ,
Sell The breakout
Stop loss above the red rectangular zone
USDJPY waiting for the breakA corrective structure has been formed as part of the redistribution in a range of previous accumulation. There were two range areas during previous re-accumulation. Once the current wedge structure is broken we can expect price to find further support at previous lower support areas.
EURUSD squeeze before completing corrective structureThe EURUSD is finding resistance at a number of key levels and has created a wedge pattern. A very old level at 1.120, a Brexit key level at 1.11725 and yearly PP around 1.115 and the 50 day sma. We see a good rejection candle off these levels (see circled area). The TDI is showing a steady increase and all the RSI lines are above the 50% level. The BBands have contracted indicating the squeeze before the breakout. Volume at this level is also increasing showing the intent for the move to come. So this week I will be looking for the break up to complete the larger corrective structure at point E around the 16th of October. However, with the American election coming up we may see a lot more sideways action and only reaching point E around the beginning of November. Well let see what this week holds.
USDZAR Where will the Rand go? Waiting a little longerThe USDZAR is forming a smaller corrective wedge within the larger correction. Seems as that everyone is waiting to see how things will develop. Within this wedge it does seem that volumes have increased and volume spikes can be seen at the bottom of the low volume pullbacks which looks imo that larger players are shedding Rands on the pullbacks and we can expect a new impulse long when the wait is over.
EURUSD still waiting for completion of the corrective structureThe EURUSD has again found support at the yearly PP. I am still waiting for the corrective structure, that has been playing out since the beginning of 2015, to complete. Will be looking for a break of the yearly PP to make me bearish and a break of the resistance zone between 1.125 and 1.132 to confirm the final move to complete the corrective structure.
USDZAR Where will the Rand go? Waiting for the big impulseLast week potential completed a ABC correction of the first impulse of a weakening rand. Talk about the looming downgrade is increasing and there is still the USD rate high expectation. The only thing going for the rand at the moment is the possibility of the Gold price improving. This week I expect at least a move to the yearly PP at around R14.2/USD. At the beginning of October we will see if the corrective structure is now over.
Bearish ABCD Bearish AB=CD WITH Negative RSI Divergence and VSA showing a climatic action with is a sign of weakness ,
an up test bars with low volumes such as no demand bar or any other sign of weakness is needed to confirm the coming bearish move , i.e. upthrust , higher highs with low volumes and narrow spreads , squats , etc
USDCAD a different viewI have been following the USDCAD using the weekly chart and Ichimoku. I did not post last week and wanted to show a daily view this week. Price seems to be defined by the Yearly PP and 200sma during the correction of the impulse down move. The retrace has not even reached the 38% retrace level and important structural level. However, to achieve this the Yearly PP will have to be broken. So in the week to come we will be looking for a retest of the Yearly PP. Volume has shown an increase of the high and low peaks and seems as that there could be some momentum developing.
EURUSD the final push is and then for the big moveI did not post last week but the correction completed and the final push to point E started. Will be looking for the structure to complete around the 21st of this month and then we can expect a strong move. We have been following the development of this corrective structure with ABCD patterns for a number of weeks (see below) but we are now starting to look for completion of this.
