This turn is looking really good in my eyes. AUDCHF confirmed /\ {image}
Alien's Extraterrestrial Visual Systems
- #21,343
- Edited 11:47pm Dec 10, 2018 11:28pm | Edited 11:47pm
{quote} The divergence is still pushing, adx 89 and 144 turned down, might be time to take the profit. The swing up is near imo. {image}
I would dare to say that AUD is making Wave 2 on most of the pairs (EUR, CHF, USD, JPY). I'm confusing them one with another...the way patterns looking similar to each other. (Note for the newcomers: Look how divs were made on all indies of a Daily TF. System tells you when trend continues and where trend ends...basically warning you of every swing in the market)
Maybe, something like this will happen.
Or, wants to recheck the middle of a weekly channel
- #21,344
- Dec 11, 2018 5:26am Dec 11, 2018 5:26am
- Joined Jul 2013 | Status: Trader | 2,603 Posts
"EUR/USD is trapped in a symmetrical triangle. The EUR/USD pair created a bearish outside reversal on Monday and failed to pierce the upper edge of the symmetrical triangle on renewed Brexit uncertainty. UK PM May delayed a highly anticipated vote on the exit deal, which she agreed with the European Union (EU). The American dollar started the week with a soft tone, a follow-through of Friday's disappointment US Nonfarm Payroll report, but ended up strengthening against most major rivals on Pound's collapse. The EUR/USD pair, which traded as high as 1.1442, fell to the 1.1350 price zone following GBP/USD over 200 pips' decline on the back of Brexit jitters. There were no political headlines related strictly to the EU, while macroeconomic releases were scarce both in the EU and the US. Germany published its October trade balance, which posted a surplus of €17.3B, below the previous and the expected, with imports surging 1.3% and imports just 0.7% when compared to a year earlier. In the US, a minor report brought relief, as the JOLTS Job Opening report came in at 7.079M, surpassing expectations and the previous month figures. Finally, the EU Sentix Investor Confidence plunged to -0.3 in December vs. 8.8 in November. This Tuesday, Germany will release the December ZEW survey, with Economic sentiment expected to fall both in the country and the whole Union. The US will unveil November PPI, seen flat when compared to October. None of these reports would overshadow Brexit turmoil as the main market motor, followed closely by trade and global growth jitters.
GBP/USD is currently grinding its way back above 1.2580 following Monday's decline from the 1.2770 region, fueled by the news that Prime Minister Theresa May would pulling her Brexit Withdrawal Proposal from the parliamentary vote that was slated for today in the UK's House of Commons. The GBP/USD pair fell to 1.2506 at the beginning of the US session, a level last seen in April 2017, as UK PM May's leadership came again under scrutiny after she decided to pull out the Brexit deal from the Parliament and rush back to Brussels, trying to get a deal that has chances to pass the Commons. The European Court of Justice ruled earlier on the day that the kingdom could reverse its decision to leave the European Union without consulting other member states, but Downing Street has repeatedly said that they won't revert the decision to leave the Union. May confirmed the deference of the Parliamentary vote as she had no majority to pass it over, and it didn't take long before opposition Corbyn called for May's resignation. Adding fuel to the fire, UK data released this Monday was extremely disappointing, as Industrial and Manufacturing Production plunged in October, much worse than expected, while the monthly NIESR GDP estimate on economic growth printed 0.3% for the 3-month to November, below the previous 0.4%. The UK will release this Tuesday its latest employment data, with average earnings seen matching previous month figures up by 3.0% including bonus, and the ILO unemployment rate foreseen unchanged at 4.1%".
GBP/USD is currently grinding its way back above 1.2580 following Monday's decline from the 1.2770 region, fueled by the news that Prime Minister Theresa May would pulling her Brexit Withdrawal Proposal from the parliamentary vote that was slated for today in the UK's House of Commons. The GBP/USD pair fell to 1.2506 at the beginning of the US session, a level last seen in April 2017, as UK PM May's leadership came again under scrutiny after she decided to pull out the Brexit deal from the Parliament and rush back to Brussels, trying to get a deal that has chances to pass the Commons. The European Court of Justice ruled earlier on the day that the kingdom could reverse its decision to leave the European Union without consulting other member states, but Downing Street has repeatedly said that they won't revert the decision to leave the Union. May confirmed the deference of the Parliamentary vote as she had no majority to pass it over, and it didn't take long before opposition Corbyn called for May's resignation. Adding fuel to the fire, UK data released this Monday was extremely disappointing, as Industrial and Manufacturing Production plunged in October, much worse than expected, while the monthly NIESR GDP estimate on economic growth printed 0.3% for the 3-month to November, below the previous 0.4%. The UK will release this Tuesday its latest employment data, with average earnings seen matching previous month figures up by 3.0% including bonus, and the ILO unemployment rate foreseen unchanged at 4.1%".
Per aspera ad astra
- #21,345
- Dec 12, 2018 12:46pm Dec 12, 2018 12:46pm
My stop sell-pending orders on AJ and AU were triggered, however price didn't turn in my direction...let's see why and feel free to add your thoughts.
AJ.
System clearly showed that AJ was making divs on H1 and H4. Bears needed some rest after a prolonged bearish move.
Why am I keeping my trades open? I still think it will turn down...maybe next week or by the end of this. H4 is in the process of making hidden bearish div, while MA 200 might be another barrier for bulls to handle. If price ranges enough, bearish DS SS (Slingshot) might get start to be prepared...At the end, D might make an X-cross.
It also seems that bulls are struggling to break Fib 38.2 and if I remember correctly, most of the times corrective waves go till Fib's level of 38.2 or 50, but since corrective waves consist of 3 waves, I would bet that retracement will go a bit higher.
AU.
Something similar we have on AU. D Cloud served as a good floor for bulls, while H1 made div (if I'm correct you can also see an Alien's hook on H4). Still holding my bearish entries though. H4 seem to be looking for top to turn down with the help of DS SS and S21 SS+MA 200. That's not seen often, but H1 is making series of small divs. As you can see PA is making series of HH, while S21 is making LH.
Here are basically some support and resistance levels with price playing around Fib 23.6
AJ.
System clearly showed that AJ was making divs on H1 and H4. Bears needed some rest after a prolonged bearish move.
Why am I keeping my trades open? I still think it will turn down...maybe next week or by the end of this. H4 is in the process of making hidden bearish div, while MA 200 might be another barrier for bulls to handle. If price ranges enough, bearish DS SS (Slingshot) might get start to be prepared...At the end, D might make an X-cross.
It also seems that bulls are struggling to break Fib 38.2 and if I remember correctly, most of the times corrective waves go till Fib's level of 38.2 or 50, but since corrective waves consist of 3 waves, I would bet that retracement will go a bit higher.
AU.
Something similar we have on AU. D Cloud served as a good floor for bulls, while H1 made div (if I'm correct you can also see an Alien's hook on H4). Still holding my bearish entries though. H4 seem to be looking for top to turn down with the help of DS SS and S21 SS+MA 200. That's not seen often, but H1 is making series of small divs. As you can see PA is making series of HH, while S21 is making LH.
Here are basically some support and resistance levels with price playing around Fib 23.6
- #21,347
- Dec 12, 2018 2:18pm Dec 12, 2018 2:18pm
{quote} Hi Alberti I'm not good at predicting where price will go except at the time there is a clear signal with all elements in place. I think you entered too early. My observations for AU are: Both H1 and H4 ADX are losing short power not gaining. H1 will probably need to finish compressing and then expand again before price moves much. You don't seem to use ADX in your analysis/trading decisions? I accept that it can fake you by expanding a bit then falling away, but we need to have all things in place to have best chance. I don't think it tends...
I do use adx. In case of AU there was a pretty good expansion on H4 before price turned to the north; the previous spike of S8 and its turn down to meet bigger Stochs below 20, while RSIOMA was below 20 were the main clues to enter short...besides that D S21 crossed 50 to support my trade from larger perspective.
Unfortunately, I didn't pay enough attention to divs, which were developing on H4 and H1, while on D bears were struggling to break the Cloud. Yeah, I will be looking carefully for the moment, if it proves to be a reversal.
Talking about BBS dots, I tend to like minimalistic approach and tried to keep only essential indies on my template...I've noticed that BB dots match well enough with Bollinger Bands themselves (That's why they are called Bollinger Band dots
) and chose to keep the original bands only.
- #21,351
- Edited 3:00am Dec 14, 2018 2:49am | Edited 3:00am
{quote} Looks like your AU slinghshot is playing out now. I've shorted XAUUSD, mtf BBS breaks & ADX as usual {image}
Regarding my AU, yeah h4 started to SS, but I'm afraid it is in the process of creating div. Will be good if bears won't be rejected by the close of D, since that would make an X-cross on D confirmed. Besides that on D bears have to handle lower support of the Cloud.
Although, in small profit, I'm keeping my entries open, because W looks promising enough.
- #21,352
- Dec 14, 2018 2:59am Dec 14, 2018 2:59am
{quote} Looks like your AU slinghshot is playing out now. I've shorted XAUUSD, mtf BBS breaks & ADX as usual {image}
- #21,353
- Dec 14, 2018 3:21am Dec 14, 2018 3:21am
{quote} Looks like your AU slinghshot is playing out now. I've shorted XAUUSD, mtf BBS breaks & ADX as usual {image}
Also, price seem to be confined in the channel. As can be seen, middle of channel always played well as a support or resistance and price is hanging around right there. I suppose, price went to down to make fourth wave.
{quote} Interesting one. I'd say watch out for resistance at Daily outer BB then weekly outer BB as these TFs are in BBS squeeze status.
