Some of my forecasts
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Re: Titan
T4J, we actually have a confluence of support from 2 different TF's. WE have the top of the daily cloud and the bottom of the weekly. It appears the weekly is a little deeper than the daily. That would allow for a slight wick spike into the cloud on the daily while the bottom of the weekly is being hit.
If this area does not hold, then it enters the daily cloud, and a spike outside of the weekly would be necessary to get the completed plunge to the bottom of the daily. If that turns out to be more than just a spike outside of the weekly, then it continues going south on the weekly, while pulling the daily out of the bottom. The chinkou on the weekly looks more dominant than the chinkou on the daily, so it appears we are going further south. A close under the daily kijun will confirm that scenario.
The 4-hour would be helpful to look at, but if I had to guess price action ranged high above the cloud, there was a sharp drop, and is probably still contained above a bullish cloud. As long as that is the case, some further consolidations may be seen first, while the previous peak will hold.
T4J, we actually have a confluence of support from 2 different TF's. WE have the top of the daily cloud and the bottom of the weekly. It appears the weekly is a little deeper than the daily. That would allow for a slight wick spike into the cloud on the daily while the bottom of the weekly is being hit.
If this area does not hold, then it enters the daily cloud, and a spike outside of the weekly would be necessary to get the completed plunge to the bottom of the daily. If that turns out to be more than just a spike outside of the weekly, then it continues going south on the weekly, while pulling the daily out of the bottom. The chinkou on the weekly looks more dominant than the chinkou on the daily, so it appears we are going further south. A close under the daily kijun will confirm that scenario.
The 4-hour would be helpful to look at, but if I had to guess price action ranged high above the cloud, there was a sharp drop, and is probably still contained above a bullish cloud. As long as that is the case, some further consolidations may be seen first, while the previous peak will hold.
Your comments on this.
Daily chart.
Weekly chart
Daily chart.
Weekly chart
Crude Oil
The daily tenken / 4-hour kijun combo at 98.30 should provide solid R.
The market could end up going sideways, even if it makes it all the way to that point and the fact it has its eye on the bottom of the daily cloud. The problem is the cloud is rising fast. Current level is 93.78. A week from now it will be 96.43, which is higher than last week's dip at 95.41.
There is now some heavy downward momentum on the weekly, so it could push the pair to 93.78. If that happens and takes all week to do it, then it could get pushed out of the daily cloud, but even if that happens, I'll be surprised to see 92.60 broken, as it is solid cluster S.
The daily tenken / 4-hour kijun combo at 98.30 should provide solid R.
The market could end up going sideways, even if it makes it all the way to that point and the fact it has its eye on the bottom of the daily cloud. The problem is the cloud is rising fast. Current level is 93.78. A week from now it will be 96.43, which is higher than last week's dip at 95.41.
There is now some heavy downward momentum on the weekly, so it could push the pair to 93.78. If that happens and takes all week to do it, then it could get pushed out of the daily cloud, but even if that happens, I'll be surprised to see 92.60 broken, as it is solid cluster S.
I thought there was some very good questions in a recent e-mail I got, so I thought everyone else would benefit.
1) Here comes a maths question First when I applied the formula it all made sense and now I am don't know why did I ask such a stupid question LOL but I am left with some doubts First I mean why only the 9 for (tenken) and 26 for (kinjun ) is this related to a complete cycle of a day or something?
26 is the proximity of a full market's cycle. My conjecture on the 9 is that it is a little more than 1/3 of the kijun. You want it to move fast enough to cross, but not so fast that it makes too many crossovers. I have not experimented too much with the settings only because the default has always worked.
2) And secondly as the tenken and kinjun prior represents a strong form of Support ,resistance and momentum why do we divide the highs and lows by 2 for getting the Strong S and R I mean why dividing the high and lows by 2 gives a strong S and R ???
Any mean is equilibrium, and so you want a gravitational pull to the mean. After all, it is an average that you want of the very high and the very low. There really would be no other way to do it.
and same for the span A and B and sir I did not understood How you know that in 2 weeks the tenken will cross the kinjun
All you need to do is count the 26 candles and the 9 candles. Ask yourself if there will be a new high or low between those respective candles when the next candle is being formed. Also look at the momentum of the current trend to see if the current moves would make a difference.
1) Here comes a maths question First when I applied the formula it all made sense and now I am don't know why did I ask such a stupid question LOL but I am left with some doubts First I mean why only the 9 for (tenken) and 26 for (kinjun ) is this related to a complete cycle of a day or something?
26 is the proximity of a full market's cycle. My conjecture on the 9 is that it is a little more than 1/3 of the kijun. You want it to move fast enough to cross, but not so fast that it makes too many crossovers. I have not experimented too much with the settings only because the default has always worked.
2) And secondly as the tenken and kinjun prior represents a strong form of Support ,resistance and momentum why do we divide the highs and lows by 2 for getting the Strong S and R I mean why dividing the high and lows by 2 gives a strong S and R ???
Any mean is equilibrium, and so you want a gravitational pull to the mean. After all, it is an average that you want of the very high and the very low. There really would be no other way to do it.
and same for the span A and B and sir I did not understood How you know that in 2 weeks the tenken will cross the kinjun
All you need to do is count the 26 candles and the 9 candles. Ask yourself if there will be a new high or low between those respective candles when the next candle is being formed. Also look at the momentum of the current trend to see if the current moves would make a difference.
Bikash, nothing moves in a straight line. All trends have corrections. This is what we see going on right now. If you read my Weekly Forecast, you will notice all the USD pairs I was bullish on at the beginning of the week, and then they should be back in the trend by the end of the week.
Fridays are usually very strong days for the markets. With the strong closes, that movement needs to have at least a minor correction before the trend can continue.
Another way to look at it, and I like to point it out to my grandchildren just to show the simplicity of it. Look at candles for any market any TF. Most of those candles have a body and a wick on top and a wick on the bottom.
This is the beginning of the week, so the EUR/USD, as an example, is now forming its wick at the bottom of the candle, which is exactly what it was supposed to do.
Fridays are usually very strong days for the markets. With the strong closes, that movement needs to have at least a minor correction before the trend can continue.
Another way to look at it, and I like to point it out to my grandchildren just to show the simplicity of it. Look at candles for any market any TF. Most of those candles have a body and a wick on top and a wick on the bottom.
This is the beginning of the week, so the EUR/USD, as an example, is now forming its wick at the bottom of the candle, which is exactly what it was supposed to do.
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