micchua

micchua

Adding to the possibility of the BAT formation , we have the Head and Shoulder pattern too that pressured prices. The objective from the pattern suggests support within that of the BAT coincidentally.

micchua

A possible setup for the BAT formation in Soybeans is worth taking a look where XD retracement to 0.886@894, AB*1.618=CD@919 and extension of BC 2.618@960. That cluster is approaching.

micchua

The setup for the AB=CD appears to be showing up too. The confluence of the different methodology expressed may entice one to look closer.

micchua

Note the wave relationship panning out to a high probable Primary Wave 4 (0.618 retracement) and fitting within the parallel channel while resisting at the upper channel reinforcing with a potential double top is something worth looking out.

micchua

An interesting setup in place? Correction working out nicely with ratios and at wave 4 of a lesser degree zone. Correction took almost half the time span of bull phase likely completing Wave A.

micchua

Worked on the futures chart prior and this is the Cash market equivalent.

micchua Updated 

Following up on the last, wave b may likely be formed with a 50% retracement to 0.7014 and where wave c approximately relates 0.618 to wave a . We can expect a 5-wave down on principle. Await the outcome .

micchua

Following up from the last: we've seen a possible 5 wave structure up where wave 5 relates to wave 1-3 a 0.618 ratio ending the first leg up. Wave 'a' appears to be a 5-wave structure down insinuating a zig zag correction. Wave 'b' seems to be in the making. Lets see how far this takes us for the final outcome.

micchua

This bull lasted 6.8 years and the appearance of a 5 wave down suggests a zig zag happening with wave 'a' about to complete. Given the time spent on the bull phase it is likely we will see the corrective phase ending in 2.5 to 3.5 years .

micchua

Following up on the previous count, it appears that a running correction wave 4 may have presented itself. The subsequent impulsive move suggests an affirmation. On a smaller timeframe, a possible impulsive 5 wave sequence can be seen in the making thus making a bullish impression.

micchua

USDCNH has displayed a 5 wave up and a high probable head & shoulder bearish formation with the neckline (NL) broken. Correction is in progress with waves A-B-C couple with Head & Shoulder formation and technical objectives seem to point commonly to a zone worth noting. Interestingly, correction is 0.236% of the move down from wave b to recent low suggests...

micchua

The initial turn from 0.6170 was hazy but a possible motive wave can be in place. The last 2 weeks movement displayed a rising wedge implying a momentary pause in the uptrend and expect retreat . Watch for the unfolding of market intention going forward.

micchua

Prices resisted 2008 high 4.7750 providing a potential double top scenario if further slide in coming days. This week's close was on top of the triangle and at 0.618 retracement value may say otherwise. Projected values appear at around 5.17-5.22 zone. Are we...

micchua

SBO bull run started April '20 till April '22 surpassing 208 high achieving 253% phenomenal rise displaying a 5 wave structure and now appearing to complete the wave sequence wave c . The bearish flag increases the probability . Refer to your personal preferred indictors to assess market action.

micchua

An update : Expected wave B up has displayed a 5 waves up which warrant a closer look at the following structure as it may kick in other alternative count. Note it resisted at wave 4 of one lesser degree and based on pattern, a possible reverse head shoulder may appear which will support the upside view in the medium term.

micchua Updated 

It is good to know the entire bull market lasted 1024 calendar days(geometric sequence) from 10 July 2019- 29 April 2022 because it can provide a time perspective of the corrective phase. A high probable 5 wave down sequence surfaced postulating a potential zig zag. Its also interesting to note the 5 wave down took 152 days (14.8%) before rebounding up. Prices...

micchua

Following up on the previous setup,0.6350- 0.6400 supported but lack follow through. Another setup worth considering as we get confluences of other numbers with time relationship in place. Your personal technical oscillator may assist in confirming.

micchua

An update. There seems to be a confluence of projection into the 0.6350-- 0.6400 that should get attention. As they say " the trend is your friend.... till it ends" . So the question is...are we there yet ???