thecharttechnician

thecharttechnician

This analysis is for educational purposes only and it is not an investment advice. Parameters of the chart as shown are : Box Size : 500 Points, H/L, 3 Box Daily. Coarse chart without a doubt due to the box size selection. This said, we only get counts once a pattern is completed regardless of the box size. There are more than three counts on the chart which...

thecharttechnician Updated 

For EDUCATIONAL PURPOSES ONLY. NOT TO BE TAKEN AS A FINANCIAL ADVICE. Formation of a potential inverse head and shoulders pattern is now on hand. Decisive breakout above the down sloping neckline shown in Green would complete the pattern, reversing the current downtrend, within the down trending channel if and when on hand. Slope of the neckline indicates a weak...

thecharttechnician

For educational purposes only and it should not be taken as a financial advice. A scenario no more at this stage which may unfold with AUSTRALIA 200.It is highly dependent upon a support being found at current levels. Failure of a potential support at current levels would negate this analysis and may suggest a retest of the recent low marked as "HEAD" requiring...

thecharttechnician

This analysis is for EDUCATIONAL PURPOSES ONLY AND SHOULD NOT TO BE TAKEN AS A FINANCIAL ADVICE. Due to the nature of the charting, one may look at this analysis with a medium term time horizon in sight ( weeks/ months) . Couple of active and valid bullish counts, yielding bullish targets, within the larger base has already been established which are shown on...

thecharttechnician

This analysis of Australian All Ords. (XAO) is for EDUCATIONAL PURPOSES ONLY. It is my view that, latest price action behaviour experienced with XAO has started the process of a MAJOR DISTRIBUTION/TOP. Bar marked as "Sign Of Weakness Bar" is likely to have follow through effect to higher time frames, in time off course. Distribution by smart money/better informed...

thecharttechnician

This analysis is NOT a FINANCIAL ADVICE. One of the places where most trend following methods is likely to struggle are trading ranges that BTC/USD is in at present if it's HOURLY CHART is analysed. I have marked the boundaries of this trading range with Red Support and Resistance lines to watch.It may continue for few days until it resolves itself one way or...

thecharttechnician Updated 

Current Price Action behaviour is treated as a trendless phase/trading range/flat which is seen as a corrective pattern of the next higher time frame until proven otherwise. Climax followed (heaviest Volume bar) by Climax Rally and retests of the climax low may offer some clues in terms of what may potentially unfold next. It is my view that the zone shaded...

thecharttechnician

This analysis is for EDUCATIONAL PURPOSES ONLY and SHOULD NOT BE TAKEN AS A FINANCIAL ADVICE. Since the price action has now entered into the zone of support of the next higher time frame daily, some short term bullish hourly reversal may not be ruled out. Whether or not it occurs and becomes a successful one is another matter must also be said. I am looking...

thecharttechnician Updated 

PnF way of forecasting the potential extend of the current move. Interesting to see how reliable/accurate this forecast may turn out to be ?

thecharttechnician

Support break not only in the daily but also in the next higher time frame weekly (not shown) and a largest rally in a while. Now overbought and at a price resistance but no short term weakness with bulls being in full control so far. Lets watch the battleground ($1300) at current levels to see how bears may counter act ??? If the pattern representative of the...