Price Altitude: Middle Daily Trend: Downtrend 4H Trend: Downtrend Analysis: USDJPY has axed its way through a daily demand and removed it only to touch a lower demand zone starting @ 110.606. The approach is grinding-ly awful. Prediction: I am looking for a deeper drop into the daily demand which is now in control for a long into daily supply @...
Price Altitude: Middle Daily Trend: Down 4H Trend: Down Analysis: GBPJPY has made a parabolic move lower last week and is now sitting in the middle of the price altitude where it has been trading back and forth between the 75% and 25% resistance lines. Wait for a pullback to short with higher timeframe trend. Prediction: I am looking to short this pair...
Price Altitude: High Daily Trend: Down 4H Trend: Range Analysis: GBPAUD has weakened over the last week and bounced off a tested daily demand to rally (relief) into daily supply. Biased short. Prediction: I will be looking for a further upside move into the distal end of the daily supply and looking for confirmation to short the pair @ 1.75695. Price...
Price Altitude: Middle/Low Daily Trend: Downtrend 4H Trend: Downtrend Analysis: EURJPY has aggressively dropped without major pullbacks toward the daily demand. Currently it is sitting at 25% resistance line and has touched the overlying nearest supply @ 127.01 Prediction: I will be waiting for a pullback toward either 127.01 4h supply zone or 127.77 4h...
GE has been tanking like a rock, removing demand along the way and creating supply zones in their place. The parabolic drop in prices suggests that buy orders are sitting under current price. From supply and demand perspective 17.27 looks interesting as we have a drop base rally demand zone sitting right under current price which could yield a nice area of...
WEED is in a strong parabolic uptrend. Removing supply and creating demand zones. Current price (~16$) is not an area to buy the stock at. Wait for pullback to enter the trend.
Tesla took a pounding today with the earnings loss which is a good thing if you are looking to buy because the stock is becoming cheaper. I don't normally use Fib projections but 1.618 nicely aligns with the rally base rally demand zone (@ $282) which I project the price will bounce off of. If this fails then we have a drop base rally demand at $254 which could...
4h up momentum has been broken creating a 4h supply. Going long currently is not allowed. I will be looking to realign with the uptrend on higher timeframe using the daily demand with nested 4h demand zone inside.
4H momentum broken on US30USD with removal of one demand zone, today's move erased previous day's gains. To hop back on the trend, I anticipate a retrace back down to 23078 for the next leg up (daily demand zone) if the Dow has any more steam left. As always, don't risk more than 2% per trade and set your stop losses to protect yourself. Also remember, this...
USDCHF has been rallying and in the process removing supply and creating demand. Price is getting high on the curve so taking long positions is becoming less and less favourable. We have a powerful rally base drop at 1.0050 with a strong takeoff and the imbalance created is favourable. I am looking to short 1.0050. However, before we get there, there are a few...