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"Indications are there could possibly be one more spike higher to test the weekly base cloud for resistance whilst at the same time completing a 3 wave sequence" (A,B,C)
In yesterdays daily move EUR closed higher on a long white candle which has currently pushed the weekly plot into its cloud base - (however, there are still 3 days to go to complete this candle). Please see graphic.
All elements appear to be in place except one to turn the weekly chart into a buy situation. The one element required is the Kumo break out, and that may take another 400-500 pips move higher before the sun is seen above the cloud.
The daily turned techinically bullish on the 30th March, however for medium-long term traders the weekly would need to confirm. It should be noted that Kumo formation remains in bearish hue and is nowhere near crossing over as yet. An entry based on those completed signals would have gathered a maximum of 116-180 pips in 3 days although the SL would have needed to be rather large to keep all entries in the trade .
Ichimoku, W1 timeframe.
We have good signal for uptrend. But not all the signals. And resistance is 1.2369. It maybe choppy market with final uptrend (generally let's say).
Braintrading W1.
Flat.
Maksigen Trading system. W1 timeframe.
Price broke 1.2206 resistance. Good day to place buy order for the people trading on the breakout of the first resistance line. For the people trading on breakout of all resistance we have the following:
- buy stop order at 1.2739;
- sell stop at 1.1292.
No channel were indicated for this system for W1 timeframe.
Ichimoku, D1 timeframe.
Uptrend. Nearest support line is 1.2070 so everything may be happened.
Braintrading D1.
Very good uptrend during the 4 days already.
Maksigen Trading system. D1 timeframe.
Uptrend with resistance 1.2276.
If you are trading on the bbreak out all the resistance lines so use the following:
if the price crosses 1.2315 we may go buy, if 1,2228 - sell stop order.
Ichimoku, H4 timeframe.
It was uptrend. But it is flat now 1 day already.
Braintrading H4.
Very good buy signal was some days ago. If you are trading on H4 timeframe so it is too late to buy now.
Maksigen Trading system. H4 timeframe.
Uptrend with resistance of 1.2283.
If 1.2228 - sell stop order.
No any possible buy stop order was indicated.
Ichimoku, M30 timeframe.
We are not using Ichimoku indicator on M30 timeframe.
Braintrading M30.
Uptrend generally. Now is flat.
Maksigen Trading system. M30 timeframe.
Price is floating between 1.2283 and 1.2260.
Ichimoku, M15 timeframe.
Price is in cloud. Flat.
Braintrading M15.
Downtrend is starting. But the situation may be changed very quickly. Because of M15 timeframe.
Maksigen Trading system. M15 timeframe.
Width of the channel is 40 pips. Good trading day. Now is flat. Nearest support/resistance is 1.2283 and 1.2260. If price cross 1.2228 - sell (sell stop order at 1.2228). No any possible buy stop order was indicated.
Last edited by newdigital; 04-05-2006 at 08:48 AM.
Thankyou newdigital for your extensive summary (do you ever sleep?).
Ichi Update EURO
Daily.
Continues to please short term traders with another 28 pips in the bag. (Max 208 in 4 days).
The 3 candle pattern formed now is an 'Advance Block' so this gives a warning to beware of a possible reversal around the corner. This formation is similar to the Bullish Three White Soldiers formation. However, the Bearish 'Advance Block' pattern alerts traders to the weakness of the upside price action since the close of the second and third days are significantly less than their highs. (For a 3 White Soldiers pattern check out the 13-15th March 2006 daily EURO chart).
Weekly
Little further to report. The unfinished candle still has its head just into the thick cloud, but with 2 days to go I must wait for it to actually complete before making any further prognoisis.
Ichimoku, W1 timeframe (see image weekly.gif).
We see that uptrend was started already. But Kijun-sen line was crossed Tenkan-sen line (ren line and blue one) in almost horizontal direction. Besides the nearest resistance line is the border of the cloud and it is about 1.2369 (it is not so far because it is weekly timeframe). It indicates the choppy market now and in the near future.
Braintrading W1.
Uptrend.
Maksigen Trading system. W1 timeframe (see image weekly_maksi.gif).
Flat. The price is floating mainly between 1.2206 and 1.1825.
- buy stop order at 1.2739;
- sell stop at 1.1292.
No channel were indicated for this system for W1 timeframe.
Ichimoku, D1 timeframe (image daily.gif).
Uptrend. It is too late to open the buy already (i am talking now about D1 timeframe only). But I did not see any indication abut future possible (visible) downtrend: cloud did not change the direction in the future. So it will be very choppy uptrend.
Braintrading D1.
It was very good and fully confirmed buy signal 4 days ago.
Maksigen Trading system. D1 timeframe.
Uptrend is still going on with resistance of 1.2304 and the following support lines:
- 1.2020;
- 1.1979.
Last edited by newdigital; 04-06-2006 at 04:25 PM.
Ichimoku, H4 timeframe.
It is uptrend. But the price is trying to be reversed and Ichimoku cloud was changed the direction to the downtend already.
Everything may be changed.
Braintrading H4.
Downtrend.
Good signal was 1 hour ago.
But now is too late to enter sell.
Maksigen Trading system. H4 timeframe.
The chart looks like battlefield after battle. Sorry but i came too late with this analysis. So now is flat with support/resistance: 1.2331 and 1.2208. Probably the price will float between these two lines. Sell stop order is 1.2036 now that is too far from the recent price.
Last edited by newdigital; 04-06-2006 at 04:26 PM.
Ichimoku, M30 timeframe.
We are not using Ichimoku indicator on M30 timeframe.
Braintrading M30.
It was good sell signal about 2 hours ago. Now is too late to go sell.
Maksigen Trading system. M30 timeframe.
Downtrend with the resistance at 1.2196.
Sorry.
I came too late with this analysis: width of the channel was 25 pips only and it was sell from 1.2271 and buy from 1.2297 (for whose who are playing outside the channel). And for people who are trading on breakout of the all resistance lines i may say that sell stop order was executed already. Now it is 1.2036 and it is too far from the recent price.
Last edited by newdigital; 04-06-2006 at 04:27 PM.
Ichimoku, M15 timeframe (see image m15.gif).
Downtrend is still going on. Price is trying to be reversed but it will be against the main trend. Anyway the cloud was changes direction on the possible future uptrend.
Braintrading M15 (see image btm15.gif).
It was flat from yesterday (indicator TradeSig indicated flat from yesterday evening). But we got very good and confirmed sell today. It was so quickly ... It is too late already (according to the indicator TradeSig_v5).
Maksigen Trading system. M15 timeframe.
Downtrend with resistance at 1.2196 and two support lines: 1.2242 and 1.2248.
Last edited by newdigital; 04-06-2006 at 04:31 PM.
Reversal as anticipated and warned yesterday with the new candle forming a Bearish Engulfing Pattern.
From yesterdays message. The 3 candle pattern formed now is an 'Advance Block' so this gives a warning to beware of a possible reversal around the corner. This formation is similar to the Bullish Three White Soldiers formation. However, the Bearish 'Advance Block' pattern alerts traders to the weakness of the upside price action since the close of the second and third days are significantly less than their highs.
Weekly
The unfinished candle has now retreated back from inside the thick cloud, but with 1 day to go I must wait for it to actually complete to judge if the bearish tone still exists. Symmetrical Triangle still looking valid.
Ichimoku, H4 timeframe.
It is uptrend. But the price is trying to be reversed and Ichimoku cloud was changed the direction to the downtend already.
Everything may be changed.
Braintrading H4.
Downtrend.
Good signal was 1 hour ago.
But now is too late to enter sell.
Maksigen Trading system. H4 timeframe.
The chart looks like battlefield after battle. Sorry but i came too late with this analysis. So now is flat with support/resistance: 1.2331 and 1.2208. Probably the price will float between these two lines. Sell stop order is 1.2036 now that is too far from the recent price.
Nothing was changed seriously on W1, D1 and H4 timeframe with the exception of Maksigen Trading system, H4 timeframe. Price broke 1.2183 resistance and coming down. Sell stop at 1.2156. Buy stop at 1.2235.
Linear Mode
