30 July - GBPJPY Trade Plan 30 July - GBPJPY Trade Plan
It's Friday and End of Month so will just watch the plan and not going to trade
Session Bias: Bearish
Daily: Bullish
4H: Mixed
30m: Bearish
Volume Indicator
JSE:NPN NASPERS Do Not Get Sucked into Yesterdays RecoveryWe have been following the markdown of Naspers - see posts below. Yesterday there was a sharp recovery but one should not get caught up and think it is time to go long. Naspers remains week and the current bounce is just a retest of the yearly pivot levels. Naspers remains weaker than the market and there are no indications of a recovery. The bounce may indicate a consolidation range is starting, but it still looks like more weakness to come.
JSE:MRP Markup looking to test R300MR Price has been in a strong markup after the base from the covid lows. The stock is stronger than the market. The pullback has been on lower volume and we are now ready for a test of historic highs at R300.
29 July - GBPJPY Trade Plan29 July - GBPJPY Trade Plan
Session Bias: Bullish
Daily: Bullish
4H: Bullish
30m: Bullish
News
9:30 Consumer Credit(Jun)
9:30 Net Lending to Individuals (MoM)(Jun)
9:30 M4 Money Supply (MoM)(Jun)
9:30 M4 Money Supply (YoY)(Jun)
9:30 Mortgage Approvals(Jun)
GBPJPY
Clear bearish potential EURUSD 1hEvidence provided for bearish:
- Hit top of trend channel
- Reached demand zone
- Decreasing volume
- Candles with a long tail
This is educational rather than a tip. This is an easy strategy that might not work this time. After all, it works most of the time.
WALMART OUTLOOKThe chart looks extremely annoying, having lots of small candlesticks (->no Momentum=no trend).
I would recommend to watch for high volume plays.
As always I draw my expectation on how the stock could move in the future.
USDCAD Short (Daily)Sharp bounce off t resistance area/boll band, looking to target next area of demand, possibly going down lower. First marked rectangle would be TP1, other marked rectangle TP2. Small remainder of the position can be kept as a trailing stop loss, too.
TRADING IDEA , NOT AN INVESTMENT OPPORTUNITY. TRADE AT YOUR OWN RISK!
Xrp in a huge falling wedgeBullish pattern
Could make one more low around 0.5 firs. Depends on bitcoin
Declining volume with decline price on the daily = bullish
Whats your opinion?
JSE:TON Tongaat FailingWe had been seeing buying in Tongaat but that is over now. Now we see signs of weakness (SoW) that could take us back to the lows. The distribution was very weak and an acceleration of the markdown is now expected.
JSE:FSR Fistrand Failing at ResistanceA year back - see post below - we looked for push back to R55 - R60. After reaching this area of significant resistance on the weekly timeframe we have now seen a distribution trading range with a typical Wyckoff pattern. Selling pressure is seen in the volume and a change in character significant bar is indicating the start of a markdown to test the covid lows.
JSE:SOL Sasol Markdown Set to Gain MomentumAfter following the markup in 2020 - see posts below - we have seen a distribution trading range in our previous post. Now this markdown is set to gain momentum with high volume selling taking place. Today's reversal bar confirms the basis.
Diverging 3 Day MA Price Channel and RSIQuick chart showing two recent trends. On the left you see a 3 Day MA BTC price channel trending up while the daily RSI trends down, leading to the May Crypto Crash. On the right you have a 3 Day MA Bitcoin price channel trending down while the RSI trends up. An additional observation is that both trends coincided with waning volumes. Waning volume can indicate tired trends. Combined with the Bollinger Squeeze, Bitcoin seems coiled for a big move. Macro Long, Micro Agnostic. Follow us on twitter at @CoinBumpChart for more insights.
JSE:CFR Richmont Remaining Very StrongAfter the initial markup - see posts below - we have seen a very shallow pullback. The pullback showed a lot of effort (high volume) without response indicating that all available supply is being bought. Yesterday there was a significant range bar and the markup is now set to continue.
DDS Consolidating finding SupportDDS is showing that it has stopping volume coming in not allowing it to go any further south preparing to head higher to ATH’s.
AUDJPY - ShortThe very first time that Volume in down movement is greater than upward, it means we are ether in pullback after PSY, ST(A), or ST(B). All in all, it means we are close to the end of the uptrend.
After that, we will see that the movement to the down has more volume than up movements.
GOLD Future - 06 - Update 07/07/2021 and Forecast The Target Profits indicated last week were both taken.
Today the Long and Short Targets have been updated for the next 7 daily candles.
Totally from the forecasts published last two weeks, we took 9 short and 14 long points.
Good trade to all... ;-)
GBPCHF | SHORT | Areas of InterestDaily Trend: SELL
LP Sentiment: -23%
Looking for a pull back into the Sell-side imbalance area for a continuation back into the downward trend.
Focus on seeing this setup happen in the London Session.
Don’t forget to follow us on tradingview
Happy Trading
Mr Ionic
JSE:PRX Prosus Going SouthAs expected Prosus keeps following Naspers down - see posts below. However, Prosus is weaker than Naspers and has already broken the yearly pivot point and the recent redistribution remained below this. Again the high volume selling is seen indicating some urgency to dump the stock. Today we see the breakout of the recent redistribution trading range and this week could see more panic selling.
JSE:NPN Naspers Breakout Following the markdown of Naspers - see posts below. After a smaller redistribution range, we are seeing a break out of this smaller range today continuing the push lower. The next important level down is the yearly pivot point at R2800. In the smaller redistribution range, there was a particularly high volume upthrust (ut) indicating the selloff is gaining momentum and some panic selling is happening.
JSE:J200 Looking WeakAs indicated in the post linked below I a break of the trendline could start the markdown. We have now seen this break and a backup to the breakout level. The break occurred on some volume and the attempt to recover could not break the 50Day SMA and could not stay above 60000. This looks very weak and this could be the start of a markdown.
Gbpusd sell 70 pip gain
This is an easy decision to sell with all this momentum and buying pressure we are seeing. I expect it to hit 1.37000 but we will take profits a bit earlier. The bulls have lost buying power and now the bears are taking control of the market. Time after time, the bulls failed to push price up and break any of the trend lines I have set in place. But now we got a beautiful fall in price. I expect a slight pull back but nothing enough to exit a trade.
BUY UsdjpyThis has been in an uptrend and it finally broke support and retested. It has a lot of momentum with it now. This is the perfect time to get in and ride to the next zone. After it touches or looses momentum we will exit which we expect to see at resistance.
JSE:SOL Sasol Time to Let it GoWe have been following Sasol sins the climax lows in 2020 indicating a target of R200 - see the progression of posts below. We have reached the target and now we are seeing active signs of distribution. After a climax in March, there was a strong secondary test but the next upthrust (UT) on volume made no progress (Effort without Response) indicating selling by the big players. A change in character was seen in June with an increased downward spread on volume making signs of weakness (SOW). The latest attempt to rally could not break the 50SMA and after a key reversal bar, it is time for Sasol to drop potentially retracing all the gains of the last year.
