albert.callisto

albert.callisto

Not an analysis, though I used recent price changes in CAC40 to illustrate the idea behind Wolfe Wave. Things are never ideal so it remains a theoretical tool but it can help to find out target levels in case of breakout scenarios from converging triangles. The presented example is a bullish scenario but you can do the same for a bearish scenario if the triangle...

albert.callisto

I switched to zigzag indicator to remove all the noise of the 4h chart. As you can see the cable is oscillating within an intermediate channel which is itself enclosed by a bigger structure. What we may expect now, from a statistical point of view, is a breakout from this ranging state, either up or down. Targets are given by the height of the first real...

albert.callisto

Price is playing with daily cloud, we may see a small retractement towards Kijun/area under the ascending channel before another bearish sequence. Note that the lagging span did not have hard time passing through the price, no rebounce there. A more conservative trade would wait for the lagging span to break the Kijun as well.

albert.callisto Updated 

PFE / Allergan inversion deal got its last nail in the coffin and is past history now. From technical point of view, the price broke out from an ascending channel, we take the first oscillation height (in pink) as a rough guideline for defining the next target. This target area is matching SSB and Kijun levels seen in the past as well, especially the flat cloud...

albert.callisto

The head and shoulders is a bit tilted but it could be the third part of a movement that will bring bears back in the game. Sell the breakout of this range. On Ichimoku side, after a short bullish cloud chunk, we see that a twist with a bearish cloud is coming back. The lagging span did not manage to go through the cloud and the Kijun is now a resistance together...

albert.callisto

Orange juice had a nice rally but is now in the overbought area of the RSI, it looks like being stuck at 75. Last daily candle had a long wick, could be a sign that the correction could occur from now on.

albert.callisto Updated 

Wait for retractement on Kijun (equivalent to 50% Fibo), if it holds, enter around 1.1242. TP at 1.134. SL defined by upper side of cloud (SSB) + margin for spread and volatility. RSI is very high, won't hold for long before a technical pullback.

albert.callisto Updated 

Price is supported by levels around 16500 and is currently oscillating within a triangle. If a break is coming, it could reach 17800 levels we had back in Feb, or . We use the first oscillation height as the basis projection for the price.

albert.callisto

Cloud under the 4H price is very weak and the lagging span just crossed the Kijun + Tenkan (which are "thick" R/S lines). If it does not hold, we may see the price targeting 0.741. RSI is steadily going down.

albert.callisto Updated 

EURUSD is frankly quite a mess with desperate attempts by Draghi to weaken its currency, there is more or less consensus that EURUSD will continue to raise. RSI On technical side, we may wait for the RSI to decrease a bit until it reaches the "oversold" area at 30. A bounce would provide a first trigger for a buy trade. Targets Targets are defined using...

albert.callisto

On higher timeframes, USDJPY has been ranging between 111 and 114. It is now in the lower level of the range, has been rejected around 111.1 and could test 112 zone. Ichimoku does not provide much info at this timeframe, the cloud is terribly flat and therefore I removed Ichimoku and used weekly Demark pivots instead to define the targets. Stochastics Stochs...

albert.callisto

RSI Daily RSI shows some divergence, the price has hit a resistance area. It is likely to retrace towards the lower side of its ascending wedge. If it manages to break it, it could head down the upper cloud area. A break of RSI at 50 and then of the RSI trend line itself would give more weight to a shortish trade with entry around 15.6 and TP at 15.0. Ichimoku...

albert.callisto

Good news is that sugar doesn't care much about FOMC, Draghi, oil or SPX500. After having escaped from a downtrend channel, it broke the top of the inverted U-shaped pattern at around 15.10 and is now rocketing towards upper historical levels that we find out by looking at flat SSBs on the (pink) cloud. One may want to wait for some retracement towards Fibo 0.236...

albert.callisto

Pfizer is now slowly getting out of the area defined by a descending wedge. The Kijun is providing support at 29.50 as well as the upper side of the wedge. The lagging span is right against the Tenkan and with a break we would see the lagging span trying to reach the Kijun. For a bullish indication on this stock, we wait for a full cloud breakout with a good...

albert.callisto

After it had been severly beaten with a bottom at 400, the Chipotle stock stopped bleeding and, at least from a technical point of view, is turning bullish in its ascending channel. Ichimoku helps us to define some levels for a long entry. We have a weekly Kijun around 580 and a daily Kijun evolving at 490 that is providing some nice support. Note the cloud...

albert.callisto

AUDNZD is likely to retest the 1.115 area. If it holds, we may have a long towards the levels seen back in September 2015. In autumn 2015, the Kijun was flat for long time at 1.117, this is a level of interest that would provide an extra indication for a long entry if it is broken again after a rebounce on 1.115.

albert.callisto Updated 

Price is in its daily cloud, so theoretically neutral but some signs are on the bullish side, though it will take some time to have stronger signals. Lagging span hit some resistance and an oblique trend line, it is stuck against them and below it, price + Kijun form a good support. The lagging span may choose to avoid these crowded areas and head towards the...

albert.callisto

Fibonacci is not the only way to define levels, there are other levels such as those by Gann or the "Rule Of 7". It's quite simple and is based on fractions of 7 hence its name. The coefficients between a bullish and a bearish leg are different. Here are the rules for bearish objectives. Check the related idea for the bullish version. Pick the base (could be a...