Umlingo

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 -...

Umlingo Updated 

NGAS has been in a long term downtrend. With this bias to the short side, considering a price reversal to test the nearest Supply Zone , confluent to the 200hr MAV and Fibonacci 618 retracement. Recently we have seen a Rally ( setting up a Fresh Demand Zone) , Base ( Bearish Flag) , Drop , and now we have a Base ( Bearish Flag). The trade considers a short to...

Umlingo

WTI is in a September 2023 to form a Large Multi Month Triangular Consolidation. We are nearing the pointy end. On the lower time frame , this leg can be seen to be playing out in 5 waves. We are in wave 4 , and price is consolidating a Supply Zone. The 4th wave may be in 3 for an ABC movement. I am looking for a First Test Rejection of Supply. Its not...

Umlingo

Dax has made an impulsive move to create a lower lower and was rejected at this demand zone. This is a Bear Trap. Looking for price to move back to the Fresh Supply Zone. Enter - 18287 Stop - 18250 ( Below Lowest Low) Target - 18497 ( Supply) RR = 3+

Umlingo

Gold has printed a Fresh Supply Zone, and is in retracement to the Demand Zone. Likely a short move towards 2427