Volume Indicator
EURNZD Swing High| Price Action| 200 MA| .618 Fibonacci Evening Traders,
Today’s analysis - EURNZD- trading towards Local S/R where a bounce is probable,
Points to consider,
- Price Action Impulsive
- Local S/R Support
(.618 Fibonacci & 200 MA confluence)
- Swing High Objective
- Oscillators Bullish Control Zones
EURNZD’s immediate price action is impulsive towards Local S/R that has technical confluence with the .618 Fibonacci and 200 MA. This area is a trade location with a probability of trend continuation.
Both Oscillators are currently trading in bullish control zones, remaining in these areas is indicative of strength in the market.
Overall, in my opinion, EURNZD is a valid long with defined risk; price action is to be used upon discretion/ management.
Hope this analysis helps!
Thank you for following my work
And remember,
The goal of a successful trader is to make the best trades. Money is secondary. – Alexander Elder
JSE:TRU Truworths Mark-up?Truworths has been marking down from a previous trading range at about R75. We are now seeing some accumulation that could be the start of a back-up back to that trading range. We have seen signs of strength throughout this accumulation. After the selling climax, we saw signs of strength (SOS) taking price above the automatic rally (AR) and then being unable to properly break back into the trading range. Now after another SOS we have had a back-up to a last point of support (LPS) and what looks like the start of the mark-up into the new year.
JSE:PRX Prosus Following Naspers Down?With Prosus shareholding in Naspers it is following the trend down (See post below) and we are now looking for a markdown to occur. We are looking for a markdown to below R1200.
JSE:NPN Naspers Distribution?Naspers is looking like it is completing a distribution trading range in spite of a strong market. After a push higher in November increased selling volume provided a major sign of weakness (SOW). After a poor attempt to rise it is now had a high volume significant selling bar. This could indicate a large concern is completing its sale of the stock into the strength at the end of the year and could be ready for a markdown going into the new year.
JSE:OMU Old Mutual Breaking Out?It is an unusual time of year to see this type of volume in the market but it seems 2020 is an unusual year. A number of stocks are showing some volume pushing the price. Old mutual has had two relatively high volume days at the end of last week pushing price higher from a lower volume back up (BU) to a last point of support (LPS). There has been a sign of strength (SOS) on higher volume. We are now looking for a break and markup to occur. Price could reach R20 so there is a good risk-reward for the trade.
JSE:ABG ABSA Push into 2021Banking stocks have been in recovery since the covid lows and there are a number of opportunities in the back up (BU) to the previous support become resistance levels going into 2021. ABSA has been in an accumulation range since the lows and broken out and backed up to the range. The BU has been weak showing some strength. We are now looking for a break of 12000 to go long to between 14000 and 16000. At this point, we will be looking for a potential short to test the covid lows.
GBPUSD 1D BEAR FLAG SHORT TRADEAscending Channel is a Range Pattern that is a repeatable trading chart patterns.
Ascending channel chart pattern will have a directional bias (Short) depending on the previous incoming trend.
Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern.
What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart).
Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place.
Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement.
When you see descending Volume bars and descending ATR line (which indicates volatility) this shows
a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern.
Trade Management after there is a breakout candle close.
1 - Position size (compare volume bar to volume ma line).
a - Breakout candle must be 100% of volume average for a full position size.
b - If 75% of volume average then ½ position size. (To find 75% of Volume
look at the charts volume settings – divide smaller # into larger # = 75%+)
If not 75% then stand aside from the trade.
2 – If candle breaks out of a trendline, 15m before the close of the day prepare your buy/sell order.
Enter two trades. 1st trade will have a SL & TP. It will close automatically when the 1st TP is hit. 2nd
trade only has a SL and will be allowed to run. When 1st TP is hit move the SL to breakeven. Look
at ATR and prepare SL at 1.5 of ATR. Prepare 1st trade TP at 1 of ATR.
3 - SL for both trades will be 1.5 x ATR.
4 - 1st trade TP will be 1 x ATR.
5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price.
6 - When 1st TP hit – move 2nd trade SL to breakeven.
7 - Adjust the 2nd trade SL to follow price.
*8 – After Breakout candle – if price closes back into chart pattern close trade don't wait for SL to be hit.
*9 - When breakout candle is more than 1 ATR from breakout candle open.
a - Enter 1st trade at candle close with ½ position size.
b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open.
c – Price should pullback to that pending limit order for 2nd trade.
d – If Price returns back into chart pattern close trade before SL is hit.
JSE:HYP Hyprop Mark-upWe have seen a significant bar with ease of movement breaking out of the Back-up (BU) to the trading range. We previously detailed the accumulation range in the post presented in the link below. This bar could indicate that the accumulation process is now complete and the mark-up can progress.
JSE:TON Tongaat Mark-upIt is not a great time to buy during the mark-up, better to wait for the reaccumulation range to form, but the buying volume observed in April is now playing out. When all the other stocks were having a selling climax in March we observed that there was significant buying pressure on Tongaat (See posts below). After some more high volume, we are now seeing a mark-up taking place and price has doubled.
JSE:MCG Multichoice Mark-up to continue after reaccumulationMultichoice has been strong. After a reaccumulation range and spring, we can expect the mark-up to continue.
JSE:DGH Distell Ready for MarkupDistell has formed a typical Wyckoff Accumulation Trading Range. After the Selling Climax (SC), Automatic Rally (AR) and Secondary Test (ST) in Phase A we saw a lower volume adsorption volume in Phase B and then a Last Point of Support (LPS). Now there has been a change in character with Signs of Strength (SOS) seen by the increase in volume and ease of movement to the upside. After a declining volume pullback or Back-Up (BU) som volume together with a reversal bar points to the mark-up being ready to start.
JSE:BLU Blue Label Markup to StartBlue Label has formed an accumulation base (See the previous post below), broken out had a shallow pullback and is now ready for the markup. We are looking for a target of R5 and then possibly R8 giving some potential upside.
BTCUSDT, strong short to 18028 and 17200.Hi, friends. I dont write for a long time. I like you make money on this great long on btc and eth. But today very interesting situation and i want to be helpful for my subscribers. We have a picture when market cant make money for future gross. Maybe just no money on purchases pockets ) X-Volume show strong short position to 18028 and then maybe to 17200. Keep your pockets friends.
JSE:ANH ABInbev Last Push to OverboughtFollowing the bounce from the oversold line in March (See posts below) with a target of R1200. We have taken two reaccumulation steps after a shallow pullback to the latest reaccumulation range we are now ready to for a push to the R1200 target. This is also the yearly pivot point and the overbought line.
SET:TKN - Long Opportunity - Massive Volume ConsolidatonIs this a Wykcoff - Not sure, but whatever it is, TKN has a an outstanding tradable shares of 532M Shares......My hypothesis is someone accumulating a massive position here.
JSE:LHC Life Healthcare Continues DowntrendLife Healthcare has tested the overbought line. There is now a high volume rejection and the downtrend can be expected to continue. This is confirmed by negative divergence in the volume RSI and a downward trending relative strength to the Top40.
JSE:BVT Bidvest Fails to Break Previous ResistanceBidvest tried to push above the previous resistance at R175 but failed on lower volume. This indicates an upthrust (UT) after distribution and opens the path for the markdown in Phase D to start. We are now looking for a break below the bottom of the trading range at R130 to open the path for a markdown in Phase E to even lower prices.
EURNZD Local S/R| Structural S/R| .382 Fib| Price Action| 200MA Evening Traders,
Today’s Analysis – EURAUD- impulse close above Local S/R, a bullish retest is probable,
Points to consider,
- Price Action Impulsive
- Local S/R Support (200 MA Confluence)
- Structural S/R Resistance
- RSI Bullish Control Zone
- Increasing Volume
EURAUD’s immediate price action is impulsive above Local S/R, holding these regions allow us to have a bullish bias on the market.
The Local S/R is current support that is in confluence with the .382 Fibonacci, price action has a high probability of respecting this level.
Structural S/R is objective, clearing this level will greatly increase the probability of trend continuation.
The RSI is currently trading in its respective bullish control zone, maintaining these levels with increasing volume is indicative of market strength.
Overall, in my opinion, EURAUD is a valid long with defined risk; price action is to be used upon discretion/ management.
Hope this analysis helps!
Thank you for following my work
And remember,
“All statistics have outliers. Money management, therefore, is key to the process of good trading.”
― Yvan Byeajee
SPX is showing delta volume diveregence SPX is showing delta volume divergence and we might see retracemeant to VPOC, if VPOC is broken we will reach T2 (Previous swing high)
DOTBTC Local S/R| 200 MA Support| Swing High| Daily S/REvening Traders,
Today’s analysis – DOTBTC- trading above local, maintain these regions is bullish in the immediate terms,
Points to consider,
- Price Action Bullish
- Local S/R Support (.382 Fibonacci Confluence)
- Daily S/R Target
- Declining Volume
- RSI Bullish Control
DOTBTC’s immediate price action is being accepted above Local S/R, this allows us to have a bullish bias on the market.
The Local S/R is in technical confluence with the .382 Fibonacci and 200 MA, price action has currently respected this level.
Daily S/R is current target, price action exceeding this level will increase the probability of trend continuation.
The volume profile is indicative of declining volume after an influx, this suggest a true break of Local S/R. Follow through in volume is required for a trend continuation.
The RSI is in its bullish control zone, remaining in these levels is critical for market strength.
Over all, in my opinion, DOTBTC is a valid long with defined risk; price action is to be used upon discretion/ management.
Hope this analysis helps!
Thank you for following my work
And remember!
The goal of a successful trader is to make the best trades. Money is secondary. – Alexander Elder
