Umlingo

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...

Umlingo

Price has made a First Peak with a retest of the BOS line at 33150. A Neckline can be identified at 32130 , on lower volume. Price is rising , and yet volume is decreasing. It is this Divergence of Price and Volume that sets up the short side. Wait for a break of the BOS line ( Bull Trap) Two places to consider a short 1. A candlestick confirmation after the...

Umlingo Updated 

EURYEN for the first half of 2024 taken the stairs up from 155 -175. From mid July this pair has stepped into an elevator that is on an express journey - 17 Candles and 1600 pips. Where to ? The Demand Zone at 155 offers the natural target for this pair. How Long ? IF the Momentum of Price Action does not abate, 4-6 candles and 400 pips.

Umlingo Updated 

On the LTF we have a confirmed break of Market Structure. The impulsive Rally of the last trading day has seen price break 1.8500 and establish a higher high. Looking next week for this pair to consolidate between .8480 - .8520, before a move up to the Supply Zone at .8640. This should be confirmed with RSI moving out of the OB zone and into lower levels (50-70)...

Umlingo

Look at the rally from the recent Swing Low. You will see high volume candles (yellow) and ultra high volume candles (red) , but look at the size of the candle bodies (Spread). The buyers have pushed, but the Sellers have exerted equal pressure. So for maximal effort , there is no result. When there is a divergence of price and volume, there will be a...

Umlingo Updated 

After threatening to break 70K, the sellers stepped up and have moved Bitcoin down some 10K. It is likely the buyers will gain some control, and see price move back towards the 200 MAV and Minor Supply Zone. The RSI was printing Bearish Divergence since 16th of July, and since the corrective move continues to travel in the Sell Zone. The Target is suggested to...

Umlingo

Look at VSA. It has been printing with lower volume. There is no interest with institutional buyers presently to sell. A Bear Trap looks to be set at the Demand Zone. The Target for a correction is the measures of Central Price.

Umlingo

EURCAD has been consolidating in a Rectangular Pattern since mid-July 2024. Roughly a 100pip range. A breakout took place (Consolidation and Nov 23 Swing high) on the last trading day, where Buyers take control and move price 180+ pips in 4 candles. From a Volume Spread perspective the last 4 candles are of interest. The First Candle is Green, which...

Umlingo

The EURNZD had approached the Swing High of August 2023 at 1.8463 , and retraced to the Demand Zone at 1.8070 ( which is now mitigated) . The VSA shows the Buyers are in control and RSI is printing in the Buy Level. The fresh Supply Zone above is the target for early next week at 1.8410-1.8450. It is not likely a major Long Standing Supply Zone at 1.8460 -...

Umlingo

Dax has just broken the Pennant Consolidation with an impulsive DROP from 18500 to 17600. The RSI is printing OS , and looking for price to move back to the Supply Zone at 18000 early next week, before the next DROP to 17500 , which is a FRESH Demand Zone.

Umlingo

The Yen has been pretty much toast for quite some time. That was until the 11th of July 2024. Technicals 1. Candlestick - Evening Star for the start of this corrective move away form 109.50. 2. 200 MAV - price crossed on the 17th July. 3. MAV Alignment - 20/50/200 lined up to the downside. 4. Momentum - from OB zone, a Bearish Divergence as a prelude to...

Umlingo

AUDCAD is consolidating in an Ascending Triangle above .90 level. This large round number isn't broken so easily. Short Bias 1. 200 MAV - price is beneath. 2. Confluence 20/50 - confirming bearish price action 3. Triangles - Ascending triangle forming above Support . On a HTF this is a down leg of a much larger Triangular Consolidation. 4. Order Flow -...

Umlingo

AUDUSD has made an inverted Cup & Handle Formation. This is a bearish continuation pattern. Look to sell. Suggestion on chart. RR = 1.8

Umlingo

A few factors to consider a. Supply / Demand - the Supply Zone is at the prior swing high (ATH) of 5679. The Demand zone is at 5220-5270. b. Support level - support comes in 5320. Tested by 8 candles, broken by 1. c. Equal Measured Move - if we consider an equal move as the last bearish retracement in March/April , we arrive also at 5320. d. Fibonacci -...

Umlingo Updated 

Silver has just tested the Fresh Supply Zone, with a High Test Rejection Bar ( pin bar) , at a near 886 retracement of the prior upswing. Most retail traders are net long Silver ( 95%+) . The Contrarian View is to take the opposite. A trade is considered for Silver to retest the Demand Zone Below. Enter - now Stop - Above prior swing high Target -...