The EURO is getting hit from pillar to post. Price movement favors the downside. Look back and you will see what may occur again. 1. Consolidation - Past = 72 bars - Present = 64 bars 2. Trendline break - Past = 10 bars and 500 pips - Present = 4 bars and 480 pips. 3. Support break - Past - at 153.50 - Present = 143.20 The...
The US 30 index is making a channel down . After every impulsive wave , there is always a period of consolidation. So far 3 consolidations can be identified on the 4hrly chart. These consolidations are near the Kihon Suchi number of 52. The present consolidation is at 50+ bars. There is a rising probability of a breakout. One scenario is another impulsive...
USD JPY is forming a P wave within a descending triangle structure. Trade in the direction of the breakout. Confirm the hourly break first. Long 1. Enter - resistance confirmed break (around 1.3510) 2. Stop - below triangle base (1.3470) 3. Target - swing high 1.3590 Risk = 40 pips Reward = 80 pips Short 1. Enter - break of triangle base around...
THe USD JPY is in consolidation. Consideration of the Wave possibilities on the daily basis. Either we see an INI or IVI formation. The key area of interest is 134.20 . To see which forms. The pair is no doubt bullish . IT is whether support comes from the 134.20 (INI) or the Kijun Sen at 131.20 (IVI)
AUDUSD is in consolidation within a P wave structure. The sentiment for this pair is bearish. A suggestion for a short to break this triangle 1. Enter - at .6920 ( fib .618) 2. Stop - above .6960 ( swing high) 3. Target - .6785 ( V expansion) 4. RR = 2+
The Swiss Franc is uber bullish to the Yen. Markets breath in and out. So the consideration is to setup a trade in the direction of the trend ie. LONG. Where from ? The suggested area that may be of interest is 1.4135 1. Fibonacci 618 retracement level of the current swing. 2. Kumo Support (SSA) from 141.00 - 1.4130 3. Wave structure may be in 5 4....
Gold in channel. Sentiment is bearish. Look for retracement and short from there. Possible Channel Breakout.
Gold is ranging , and has been for some time Recently a channel has formed with price regularly testing the channel boundaries. A short is suggested on chart in line with the current intraday trend.
EURCHF has broken the P wave consolidation on the 16th June 2022. IF we use the I wave base of the P Wave consolidation we can obtain 1. Price target - 98.70 2. Time Frame - 17 days ( Kihon Suchi ) suggests 4th July 2022. As such the short 1. Entry - retracement of yesterdays bearish candle = 1.0019 2. Stop - above yesterdays candle 1.0090 3. Target -...
Of interest is the movement of price since April 2018. If we consider a mulityear N wave pattern, then points A - D can be plotted. This scenario then considers the formation of a new All Time Low, as the pair break the Brexit Low. For equal time and price , then maybe the next major swing low takes place in early 2013.
I wave in moti on. Past I wave If we look back the pair were in consolidation for months from June 2020 to Jan 2021. A subsequent break witnessed a significant I wave , where price moved vertically ( 17 days) from 1.21 to 1.29. Present I wave The pair have been in consolidation since Dec 21. In June 22 the consolidation has been broken. Same time...
AUDUSD is bearish under the KUMO and presently in consolidation. A scenario is suggested for an ABCD pattern. The time and price projections are based on prior swing highs and low. The target D is not a single price point or time interval, but a suggestion to where price may be in the next 2 months.
Where are we with Natural Gas ? The intent of Ichimoku Kinko Hyo , is to tell with once glance the state of the market. The sentiment for Natural Gas is Bearish . With Price below Kumo , a trend follower will only look for selling opportunities. Is this Commodity Trending ? This is when all the other lines matter. Trend continuation is usually...
The US 30 Index is likely to make a small expected Push Back. Candle Stick Pattern The collective candlesticks of 16th June - 21st June have resulted in a Morning Star Pattern. This coupled with the immediate rejection of lower prices on the 22nd June, would favour a corrective move. Watch for price at key points of the retracement 1. Fib .382 = 31,100. ...
US Oil appears to be making a Flag Pattern on the weekly charts. ( Start of the pole is 66 and flag is between 120 and 97) Price has rejected the weekly close of 120 and moved down through trendline support. If price moves further south, then 97 would be the target. The 92 level is of greater interest as it has acted as S/R over 4 weeks.
The week has not finished as yet, but what is developing is interesting. When price trends , its tend to not move too far away from from Equilibrium. With Ichimoku this is represented by the Tenkan Sen and Kijun Sen lines. In a steady uptrend or downtrend price moves within a distance of these lines with a given regularity. This can be seen in the chart from...
The selloff on the British Pound was overdone last week. The buyers came from 1.19 and bought heavily , closing the week around 1.22. The weekly Kijun Sen ( 26 period mid price and a good gauge for a monthly fair price) and the Senkou Span B ( the 52 period mid price and long term Support/Resistance) are both flat. This would encourage price to retrace. It...
The US 30 Index is in a downtrend. We can identify 3 corrective movements to weekly swing lows of A,C, and E. There have been 2 rallies to weekly swing highs of B & D . The Rallies have been approximately a Fibonacci retracement of 0.55 and the subsequent corrective phases a Fibonacci extension of between 90% and 100 %. If this wave like downtrend...