Some of my forecasts
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It's not the brokers. It is the time the candles are plotted for the beginning of the business day. Go back and read the other post and tell me how I did on my assumptions, and then if they are right, then check the time on your candles. Their day needs to start somewhere before the Tokyo session opens.
I took the EUR/JPY short out at 111.70. Again, it was just good enough to grab some pips while the long was going against me.
I took the EUR/JPY short out at 111.70. Again, it was just good enough to grab some pips while the long was going against me.
Hello sir . you know I don't trade CAD/CHF it was just to show you my individual analysis but I trade USD/CHF I am waiting for the bottom of the daily cloud to be broken to add my short position in usd/chf . Sir this is the same CAD/CHF chart I just captured it now to show you that the cloud hasn't been touched in this chart and is not very thick the chinkou was still neutral on the daily and the h4. I don't don't whats going on with brokers they are making it a mess .. sir btw are you still short on eur/jpy ? mine is still running as i woke up now
Even though it is dangerous to hold a short on the EUR/JPY under these market conditions, there is still a possibility we are going to get another correction before the market continues north. I am waiting for that as I'm writing this to add on to my short. We may see a pullback during London, and then see the market continue on its journey during NY.
There is also a possibility to see a deeper retreat during NY. Even a "deep" retreat shouldn't go any lower than 101.18. Personally, I'm not chancing another hedge on it.
It could be preparing for an all out assault on the WR3 at 103.02. It still has 3 days to complete that move.
There is also a possibility to see a deeper retreat during NY. Even a "deep" retreat shouldn't go any lower than 101.18. Personally, I'm not chancing another hedge on it.
It could be preparing for an all out assault on the WR3 at 103.02. It still has 3 days to complete that move.
Sir Silver is challanging the recent peak as u have analysed. Here i have few questions in mind
1. On daily charts price was above Tenkan and there was gap in kijun and tenkan and Kumo was almost flat while both tenkan and kijun was rising
all this was suggesing that momentum is there for upside but we have travelled some distance from the kumo so we should see other time frame for possible action. Flat kumo of the past will resist any up move at 34.70
2. On weekly Charts Price is hittng the Cloud that is thick. Last week cloud has sucessfully resisted any upmove. Kijun is flat liitle above in the clould and should act as resistance for any effort to break through the cloud. Chinkou is nicely burried under the candles. So there shoud not be any upmove any effort will be resisted strongly at 35.10 and will be pushed back
3. on 4H chart Tenkan crossed kijun above the cloud and he price broke the boundary of the cloud. Cloud was thick too Chinkou was also below the candles
This was sugesting a move down towards 32.75 or even 32.18 as per the 4H chart
4. on 1H chart Price was below the cloud and at one stage when 4H clould was broken it was below tenkan kijun kumo with kijun being flat. Here i was think the kijun on Hourly will act as resistance for any upmove which will be in confluence with weekly cloud helping the same and 4H cloud break should have not allowed the price to escape
Your views before all that happened was that price should chalange reacent peak and it is acting as you have perdicted
My question is what i was missing in my analysis when price has broken 4H cloud and it was below tenkan kijun cloud kumo oh hurly chart about 15hours back (early morning your time)
Regards
1. On daily charts price was above Tenkan and there was gap in kijun and tenkan and Kumo was almost flat while both tenkan and kijun was rising
all this was suggesing that momentum is there for upside but we have travelled some distance from the kumo so we should see other time frame for possible action. Flat kumo of the past will resist any up move at 34.70
2. On weekly Charts Price is hittng the Cloud that is thick. Last week cloud has sucessfully resisted any upmove. Kijun is flat liitle above in the clould and should act as resistance for any effort to break through the cloud. Chinkou is nicely burried under the candles. So there shoud not be any upmove any effort will be resisted strongly at 35.10 and will be pushed back
3. on 4H chart Tenkan crossed kijun above the cloud and he price broke the boundary of the cloud. Cloud was thick too Chinkou was also below the candles
This was sugesting a move down towards 32.75 or even 32.18 as per the 4H chart
4. on 1H chart Price was below the cloud and at one stage when 4H clould was broken it was below tenkan kijun kumo with kijun being flat. Here i was think the kijun on Hourly will act as resistance for any upmove which will be in confluence with weekly cloud helping the same and 4H cloud break should have not allowed the price to escape
Your views before all that happened was that price should chalange reacent peak and it is acting as you have perdicted
My question is what i was missing in my analysis when price has broken 4H cloud and it was below tenkan kijun cloud kumo oh hurly chart about 15hours back (early morning your time)
Regards
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Rk, excellent analysis!
You really didn't miss anything. That strong hourly candle bridged the tenken, kijun, and the entire cloud all in one swipe.
The hourly did drift down into depths it should not have been, but consider all along that the market should have challenged the previous high, and it has been in a strong uptrend. Until it gets into the area of where it is now, you cannot think in terms of weakness for this market. The dominant TF in this case is the daily chart, so until the daily has its way, all other TF's including the weekly are going to get stream rolled. This is why the weekly is flirting with the bottom of the cloud right now. It is giving the appearance as if it wants to enjoy a cloudy realm, but not that things have played out for the daily, we are at a decision point for the market. You have already pointed it out that a corrective process is about to take place. This could be the move the weekly gets its way and will finally force its way into the cloud to stay. I don't think on the next correction it is going to have strong teeth. Watch for the daily kijun on the way down. If it contains, then the weekly will start being the boss. Notice the swing high on the weekly at 35.67. If that is pierced by one pip, the move north will be violent. You might as well put 39.00 on the radar. You would have my favorite candlestick formation evolving, the 1-2-3. That is also more of a congestive peak which lends itself to very strong moves once it is broken.
You really didn't miss anything. That strong hourly candle bridged the tenken, kijun, and the entire cloud all in one swipe.
The hourly did drift down into depths it should not have been, but consider all along that the market should have challenged the previous high, and it has been in a strong uptrend. Until it gets into the area of where it is now, you cannot think in terms of weakness for this market. The dominant TF in this case is the daily chart, so until the daily has its way, all other TF's including the weekly are going to get stream rolled. This is why the weekly is flirting with the bottom of the cloud right now. It is giving the appearance as if it wants to enjoy a cloudy realm, but not that things have played out for the daily, we are at a decision point for the market. You have already pointed it out that a corrective process is about to take place. This could be the move the weekly gets its way and will finally force its way into the cloud to stay. I don't think on the next correction it is going to have strong teeth. Watch for the daily kijun on the way down. If it contains, then the weekly will start being the boss. Notice the swing high on the weekly at 35.67. If that is pierced by one pip, the move north will be violent. You might as well put 39.00 on the radar. You would have my favorite candlestick formation evolving, the 1-2-3. That is also more of a congestive peak which lends itself to very strong moves once it is broken.
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