Umlingo

Umlingo

Last week the EURGBP evidenced a failed test of the Supply Zone. In doing so, also failed to change the Market Structure, as the prior swing high remains intact. For the coming week, looking for a price movement back towards the Demand Zone at .8450. The Fibonacci 618 is .8475 and this would be the Target.

Umlingo

EURCAD spent most of last week in retracement, following a failed breakout attempt on Friday 2nd August. A clue to this was in the Volume. At the first day of August a bullish pin bar formed on higher Volume off the 20D MAV. The Volume to breakout on the next day was lower, and yet the spread 4x's larger. This means there would not be a sustained push by the...

Umlingo

EURUSD is in Symmetrical Triangle Consolidation for the last year, as price is contained between 1.13 and 1.04. There have been 4 waves within this structure A-D . Last week , the sum of all trading activity led to the formation of a Bearish Pin bar that failed to break the Triangle Resistance. On a daily basis, we can see that after an early push by the...

Umlingo

GBPJPY is presently grinding in an Ascending Channel from the Demand Zone at 180.00. It is anticipated that the Nearest Supply Zone is the immediate Target at 192.00. This should be achieved in 4 drives. The RSI is in the buy levels. Volume is printing Green (Average), which is validation of this consolidation move upwards. The largest candles in the...

Umlingo

The Dax has moved from a Base - Drop to a Base . This Base is in the form of an Ascending Triangle. Drop + Ascending Triangle = Continuation to downside. An ABCD move, which is completed with a final Drop. How Far ? 16400 is possible to the Demand Zone.

Umlingo

EURGBP on the 4hr chart is mapping out a P wave. This is a Bullish Continuation Pattern. The problem is, Price and Volume are at Divergence. To breakout , there needs to be considerable Volume. The last 4 hr candle , with a upper shadow breaking the High on last Monday , was on low volume. The RSI in consolidation continues to be Bearish with regular...

Umlingo

On the intraday chart , Gold is in a Descending Triangle Consolidation after an initial move down from 2478 - for both Price and Volume. There should be coming 1. Break of Price - from this consolidation. It will be supported by a 2. Break of Volume - Yellow candles printing. If Price can be contained below 2400 and RSI continues to travel below 50, and...

Umlingo

WTI has formed an Inverted Cup which took 1 month to complete. There is now a Handle forming, be it a Triangular Consolidation. From the Ultra High VSA print on Monday of this week, there is a progressive contraction of Volume. Looking for a break of Consolidation. The inverted Cup and Handle is a Bearish Continuation pattern. Momentum is in the Sell...

Umlingo

GBPCAD after forming a Distribution Channel between 1.77-1.78, has moved to a weak demand zone. It is weak because the reaction from Demand is minimal. This is reflected in the VSA , with very low volume. No Buyers are defending the 1.7575 level. Real Demand is likely to be positioned at 1.73, which is adjacent to a significant S/R level. The sellers...

Umlingo

We can see the preceding Rally to the Supply Zone. First Peak - has formed .8619. The volume was a High VSA candle ( Yellow). When a double top forms the intervening price action has progressively lower volume. As can be seen in this pair. Second Peak - is forming. It should form with lower volume. As it is here with an Average VSA candle (Green). This...

Umlingo

For WTI , on the intraday 15 min chart a clear Inverted Cup and Handle has formed. This is a Bearish Continuation Pattern. Scalp to the short side.

Umlingo Updated 

On chart is the projection for GBPUSD for the coming week. Looking for price to consolidate around 1.2800- 1.2850 , testing supply zone , before moving to test the unmitigated Demand Zone around 1.2600.

Umlingo

Yesterday was quite turbulent for all equity markets. In this market, the F40 , Buyers defended just above the 7000 level. Surely this is cheap and a great time to buy. There is a significant area of Daily Support at 7070. It has on many occasions in the past. Volume yesterday was Ultra High , reflecting the fight between the sell and buy side. No real...

Umlingo Updated 

EURUSD has made a sharp Rally from 1.08 back towards the Supply Zone. Sellers are confirmed as the VSA shows the first High Volume (Yellow) Candle, of the Rally, having a spread of 76 pips. Notice the next High Volume Candle is larger, but the resultant candle spread is only 22 pips. For a greater effort (volume), there is a lesser result ( spread ). This VSA...

Umlingo

The AUDUSD has been in a minor consolidation between Supply and Demand. We can see the first phase has involved a fairly tight consolidation in a Rectangular Formation. Yesterday we see a false break to the demand zone. 150 pips in a single bar, with a large shadow. And then quickly back into range. The Volume was large , and it can only be the Smart Money...

Umlingo

All markets experienced Bedlam. Yesterday. It happens and provides opportunity. Surely the market can't go lower ? In the last 5 years there have been Corrective retracements in the current Bull Cycle, two of which were Bear Markets. Given the current downturn is only 10.5% , there is room for further downside. On a daily basis, yesterday was the highest...

Umlingo

Gold is following a SMC and is doing so in 3 phases a. Consolidation - price is kept to a rectangular zone with defined support and resistance. b. Double Liquidity - here a run takes place in both directions, from this contraction zone. This traps both buyers and sellers. This phase is complete. c. Trend - the real direction of the market. This should...

Umlingo Updated 

An explanation on chart of the various phases to this Wyckoff Distribution. For the coming week it is likely we will see the final Phase D of this pattern evolve with a small range consolidation of the Last Point of Supply (LPSY). From there, a confirmed break and retest of the consolidation, before a DROP to the Demand Zone. For the coming week, there is a...