Filipo1

Filipo1

Weekly chart: bearish kumo, price action blocked under crossing p-wave lines in extension from TS. Daily chart: CS blocked under bearish kumo (potential twist to be confirmed), price action in extension from distant TS remaining below the cloud.

Filipo1

Weak signal yet but with encouraging elements. Tenkan-Kinjun cross + Chikou span crossing above the historical prices if confirmed could be the first step towards of Sanyaku Kouten. MACD bullish crossover + RSI above 50 adding some credibility to the scenario. Nevertheless price action remains under the Kumo and currently remains capped by 200 EMA.

Filipo1

Major support unbroken since July is at risk. Potential sharp retracement to February 2020 low.

Filipo1

But at the same time prices distanciate from Tenkan-sen...

Filipo1

On Ichimoku weekly it just crossed over flat SSB and the lagging span is free to go.

Filipo1 Updated 

Next support at 1.6990: conjunction of upward trendline with SSB flat's extension from the period APR/AUG2020 which could stop the Chikou/Lagging Span. RSI below 50 and MACD in bearish crossover. On the monthly chart Chikou/Lagging Span is free for a ride below both historic prices and TS/Conversion Line. Nevertheless price action is above the cloud with first...

Filipo1

CS under historic price action. Rebound capped by 50% Fibonacci retracement and KS/SSB extension.

Filipo1

A tribute to Nikos Mermigas and the great Spartan Trader system he shared for free.

Filipo1

The pair is sitting on a support/resistance line so better setting up a tight hedge with a stop-buy in case. Price action closed well below the Bollinger middle band on Friday with a bearish engulfing candlestick. The bearish divergence with RSI is adding to the downside view. If that materializes I plan to add another position when crossing below next Fibo under...

Filipo1

The confluent resistances provided by KS and 38.2 Fibo on the daily chart combined with the distance between closing price and TS are worrisome. On the USDCAD the expected rate rise next Wednesday from the BOC is obviously already in the prices. On the USDCHF it's clear that CHF remains firm. The remaining potential market mover to watch is of course OIL . On...

Filipo1

Candlesticks pattern looks like bulls' exhaustion here. Looking at the weekly chart prices are confronting the alignment of Kijun and SSB flats extension.

Filipo1

The usual rhetoric about production cuts is loosing credibility quicker each time from my point of view.

Filipo1

Once Tenkan sen is clearly out of the cloud signal will be fully confirmed on both timeframes. Nervertheless price action broke an important long-term resistance and looks ready to break 2017 top on April 17. Really long term resistance as shown on the weekly:

Filipo1

Following weak Tenkan/Kijun cross below the Kumo price action broke out from the cloud, pulled back and retrace up again, same for Chikou span. Please note the Tenkan sen is also above the cloud and very close to last candlesticks supporting the uptrend continuation. Weekly on the brink of bullish breakout as well.

Filipo1

Basicaslly we had a breakout below the cloud, a re-test retracement and now back to the South. Same goes for Chikou Span having crossed below historic closes, Tenkan-sen, Kijun-sen, re-tested Kijun sen and back down again. The weekly chart is showing some similar bearish breakout which gives more chances for the new emerging bearish trend if price action breaks...

Filipo1 Updated 

This time the signal is loud and clear! Monthly chart is showing price action crossed below both Kijun sen and Tenkan sen, remaining below the cloud. Last word will be as often to Chikou span borderline with historic closes.

Filipo1

A major signal for Ichimoku, however not fully confirmed yet as Chikou Span still has to cross above historic prices and out of the cloud. Weekly is supportive with price action above the Kumo, Tenkan Sen and Kijun Sen and Chikou Span above historic closes.

Filipo1

On the daily chart the pair has already broken most S/R lines and 1.3600 is the next major resistance just above the weekly Kumo.