Analysis for swing traders
Without reversal pattern on top WTI long is not dead nor reversed. It chose to continue to zigzag the big rising channel. Steep rally no. Gentle rally yes. Take retracement as discount for long. This is now the game for investors and medium term traders. Speculators hoping for 0-100mph in 4 secs will be sorely tested.
There may be a...
Screw projective methods and candlesticks. They introduce too much noise. Stripped to bare minimum zigzag and line chart WTI action looks surprising clear.
Colonel Kink's observation: still long still wait for clear base to show up.
See all my previous WTI observations which have been bullish till now.
In previous research on bullish WTI I overlaid XLE and observed that there is a cup and handle. Cup and handle or ascending triangle or whatever pattern price zigzag combined with rising WTI says XLE is a bullish continuation.
Keep a close eye as that continuation pattern is now pushing against resistance.
Analysis for swing traders
WTI is clear cut. With new 52-week high and former becoming support this is a long proposition. In my last observation for WTI I brought up inserting a Fib-R. With new high adjust this Fib-R higher also. Note that price bounced off 23.6 so this is a strong trend .
Since price is now pretty close to high might as well wait for a...
Analysis for swing traders
Price action test > re-test of shadow zone confirms that it is resistance. Price action at resistance meets Bollinger Band overbought so there is confluence. Now for trigger which could look like
/\/\ in line chart
clear wash and rinse of shadow+bollinger upper band
break below shadow zone
break black dotted trend line
...
Analysis for swing traders
GBPUSD favours continue short with swing lower highs and lower lows. Bollinger Bands agree. Noting where the higher Bollinger Band is price might not be able to reach shadow A. Zooming below shadow B should be an entry signal as well. Look for wash n rinse or /\/\ on line chart.
Analysis for day traders
Continue to long in line...
Analysis for swing traders
AUDUSD swing is still printing lower highs lower lows and Bollinger Bands agree.
Look for short signal at shadow A. Trigger could look like /\/\ on line chart or wash and rinse with clear /\ above then back below the shadow. If price fails to reach shadow A then zooming past shadow B could be an entry too.
Analysis for day traders...
Analysis for swing traders
Swing is clearly trending higher with higher highs higher lows from not just price action but bollinger bands as well. Therefore current movement = retracement.
For trigger look for VV in line chart at shadow or clear wash n rinse of shadow i.e. V shape below and then sharply back above shadow. If in doubt insert a 3ema display2 on...
Analysis for swing traders
ColonelKinkSAR™ method of drawing 'shadows' on weekly chart shows USDJPY stuck between too many shadows. This is why the pair is stuck. However line zigzag is printing a cup and handle. My previous analysis was bullish now I am still bullish.
Analysis for day traders
Space is very tight now. If insist to trade follow short term...
Analysis for swing traders
Inspection at weekly timeframe shows EURUSD stuck between two shadows marked R for resistance S for support. Until conclusive break out of this zone the pair is range bound. For rest of this week it will hold since US celebrates Independence Day and then there is NFP this Fri. Swing traders should look for next turning point to short...
Analysis for swing traders:
1.676 - 1.68 is a major former support going back to November 2017. This is a major shadow with many lines inside. EURNZD was resisted since the last 3 weeks. On top there is a 6-month range. All this calls for short.
Analysis for day traders:
Since EURNZD was stuck here for 3 weeks go for range play between current 2 shadows....
Analysis for swing traders
WTI continues to power high. Both daily and weekly time frame are in agreement for long continuation. Current price being close to previous top at 72.88 this may be area for profit taking so any weakness could lead to sell off as bulls take profit and bears step in.
Those who want to add position or who missed the boat should wait for...
EURAUD is inside shadow pre-identified in previous post. Goto back story for basis of this discussion.
The boundaries of current resistance/shadow zone are 1.5717 and 1.5618. Black candle last Friday is a price reaction or rejection to this zone.
Since today is up we have luxury to wait and see if another rejection in the daily chart. Window panel below shows...
Analysis for swing traders
Current trend is up-down-up so the next swing direction is down. Swing traders look for swing short with down continuation since Feb. Overhead shadows 1 2 and 3. Look below for explanation on shadow.
Analysis for day traders
Day traders look for long continuation in line with current white week candle.
Notes: Technical Analysis...
Analysis for swing traders:
EURAUD now inside major resistance shadow (see explanation for shadow below). Zooming out the pair resembles a potential head and shoulders chart pattern with price at right shoulder. Zigzag reveals trend as up-down-up so look for down as next leg.
Analysis for day traders:
Continue long cautiously in line with current white week...
Analysis for swing trade:
See previous post here . Swing trade remains bullish but adding one more shadow at 68.
OPEC meeting on 22 June 2018.
Analysis for day trade:
Bullish with current white week candle.
Notes: Technical Analysis states that previous turning points offer future potential support resistance zones.
1. Attach a horizontal line at...
