Press review - page 593

[Sergey Golubev]

USD/JPY - daily bearish ranging for direction (based on the article)

Daily price is below Icchimoku cloud in the bearish area of the chart: the price was bounced from 105.54 support level to above for the bearish ranging to be started.
If the price breaks 107.90 resistance level to above so we may see the secondary rally.
If the price breaks 109.30 resistance level so the the daily bullish reversal will be started.
If the 105.54 support is broken to below so the strong bearish trend will be resumed.

• "The Japanese Yen has come under a bit of unfamiliar pressure against the US Dollar in the past week but it may be too early to call an end to a run of gains which have taken it to highs not seen since late 2016. A so-far modest but broad US Dollar resurgence has seen USD/JPY rise for four straight sessions to the end of Tuesday’s action. This is the longest winning streak seen for the duration of the long fall from the highs of January 8."
• "Still, as you can see from the chart above the downtrend channel plotted remains very much in place and the Dollar’s current pep looks little more than corrective so far. It had become extremely oversold last week, for one thing, according to its Relative Strength Index. This week will also see the release of policy-meeting minutes from the US Federal Reserve. These are expected to set the stage for an interest rate rise next month, and perhaps leave the door wide open to many more. With such a key event looming it is perhaps natural that some player should lighten up on their more extreme short positions."

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Charts were made on MT5 with Brainwashing system/AscTrend system (MT5) from this thread (free to download) together with following indicators:

• MaksiGen_Range_Move MTF - indicator for MetaTrader 5
• ASCtrend - indicator for MetaTrader 5
• Ichimoku Cloud - indicator for MetaTrader 5
• Vortex - indicator for MetaTrader 5

==========

Same systems for MT4/MT5:

The beginning

1. ASCTrend system, the beginning, part #1
2. ASCTrend system, the beginning, part #2
3. ASCTrend system, the beginning, part #3
4. ASCTrend system, the beginning, part #4 
5. Digital ASCTrend (Digital Filters with ASCTrend system combined).
6. LabTrend (LabTrend indicators, LabTrendZigZag, templates, Labtrend EAs) - the thread

After

1. The main AscTrend thread is this one.
2. Asctrend indicator in depth 
3. ASCTREND SYSTEM summary (good EAs included) 
4. Brainwashing system/AscTrend system (MT5) - the thread  

[Sergey Golubev]

GBP/USD - daily bullish ranging for direction (based on the article)

• "GBP/USD has been on a rollercoaster over the past month, with much of the ride being driven by volatility in the US Dollar. The strength in the first half of the month was largely wiped away in a few trading days last week as the Greenback sunk down to fresh three-year lows. But, after those lows have come into place, more strength has showed up, leading to a zig-zag type of performance for USD thus far in February. "
• "GBP/USD has largely been along for the ride. The pair seemingly shrugged off the hawkish shift from the BoE earlier in the month at the bank’s Super Thursday. And then last week’s inflation print appeared to do little to the bullish side of the pair, with a delayed reaction showing a day later (around the release of US inflation numbers). That bullish shift allowed for a 300-plus pip jump, but since then prices have been retracing-lower. The net of all of the above is a rather messy near-term scenario in GBP/USD. A bearish channel has started to show as prices have continued to retrace last week’s gains."

==========

Charts were made on MT5 with Brainwashing system/AscTrend system (MT5) from this thread (free to download) together with following indicators:

• MaksiGen_Range_Move MTF - indicator for MetaTrader 5
• ASCtrend - indicator for MetaTrader 5
• Ichimoku Cloud - indicator for MetaTrader 5
• Vortex - indicator for MetaTrader 5

==========

Same systems for MT4/MT5:

The beginning

1. ASCTrend system, the beginning, part #1
2. ASCTrend system, the beginning, part #2
3. ASCTrend system, the beginning, part #3
4. ASCTrend system, the beginning, part #4 
5. Digital ASCTrend (Digital Filters with ASCTrend system combined).
6. LabTrend (LabTrend indicators, LabTrendZigZag, templates, Labtrend EAs) - the thread

After

1. The main AscTrend thread is this one.
2. Asctrend indicator in depth
3. ASCTREND SYSTEM summary (good EAs included)
4. Brainwashing system/AscTrend system (MT5) - the thread 

[Sergey Golubev]

Nikkei 225 - daily rally and watch 22,177 level; 23,006/23,610 levels for the daily bullish reversal (based on the article)

Daily price broke Ichimoku cloud to below for the breakdown with the daily bearish reversal. After that, the price was bounced from 20,537 support level to above for the secondary rally within the primary bearish market condition to be started. If the price breaks 22,177 resistance so the rally will be continuing, and if the price breaks Senkou Span lines (23,006/23,610) to above so we may see the bullish reversal of the daily price movement.

• "The Nikkei 225’s quite dramatic fall from January’s 26-year highs seems to have been arrested. But can this last or is another leg lower already in the offing? Having peaked at 24,189 on January 23, the index fell as low as 20,452 on an intraday basis back on February 9. It has since recovered somewhat and for the last couple of weeks has been trading a daily-closing range between 22,065 and 21,160. That range looks safe enough for the moment and should probably be treated as valid at least for the next week or so. There has been a bearish crossover in the simple moving averages, whereby the 20-day has slid below its 50- and 100-day counterparts. However, coming at the same time as a quite sharp global stock down move, this may not be terribly significant. What may be more so is that the 50-day could be about to cross below the 100. That hasn’t happened yet, but it could and it might be a bearish signal if it does."
• "It’s worth bearing in mind too that the current range base is not very far away from 21117.8. That level is the fourth, 61.8% Fibonacci retracement of the Tokyo stock benchmark’s climb up from the lows of September 8 last year to the impressive highs of 2018. The final, 76.4% retracement before the rise is completely negated would come in now at 20,392.2 and that might be a level to watch if the current range gives way."

---------------- 

The chart was made on D1 timeframe with Ichimoku market condition setup (MT5) from this post (free to download for indicators and template) as well as the following indicator from CodeBase:

• Price prediction by Nearest Neighbor found by a weighted correlation coefficient - indicator for MetaTrader 5

[Sergey Golubev]

Dollar Index - strong weekly bearish trend; 88.15 is the key (based on the article)

Weekly price broke Ichimoku cloud to below for the bearish reversal: the price is testing 88.15 support level to below for the bearish trend to be continuing

• "Institutions are known as smart money, but they often get caught crowded into popular trades that are quick to reverse. One of those is the play of selling the US Dollar. Per Bank of America Merrill Lynch, the short US Dollar trade is the second most crowded trade second to bullish US equities and the most crowded FX trade."
• "A recent FX forum in Miami, TradeTech FX, had bank strategists calling for extensive US Dollar weakness with calls of 1.35-1.43 EUR/USD by year end, which would likely see DXY sub-80 to 78.78, which is the 76.4% retracement of the 2008-20017 range in DXY."
• "The short-term outlook has seen focus turned to the concerns of the US fiscal expansion late into an economic cycle and the view that other major central banks normalization anticipation will drive up their currencies, and keep global capital flows as limiting USD upside."
• "On February 16, the Dollar Index posted a Bullish Key Day. The pattern requisite is a price low that breaches the prior day’s low followed by a close above the prior day’s high. What’s more is that the Bullish key day aligned with a double-bottom against 88.45, the January low."
• "The bounce will look to the 38.2% Fibonacci retracement of the December-February range at 90.53 and the February 9 high at 90.56. As mentioned earlier, a break and close of February-high resistance could cause an aggressive unwind of the crowded short dollar position. The unwind could give surprising fuel to the upside up to the 50% retracement of the same price range at 91.23 followed by the 2018 opening range high that was traded at intraday on January 9 at 92.27."

==========

Chart was made on MT5 with Brainwashing system/AscTrend system (MT5) from this thread (free to download) together with following indicators:

• MaksiGen_Range_Move MTF - indicator for MetaTrader 5
• Ichimoku Cloud - indicator for MetaTrader 5

Same system for MT4:

1. Brainwashing. Trades: manually and using EAs (MT4)
2. Brainwashing EAs - the thread (MT4)
3. Brainwashing: system setup for trading manually and for EAs (MT4) - the thread 
4. Brainwashing: system development (MT4) - the thread

[Sergey Golubev]

GBP/USD - intra-day rally bear bullish reversal; 1.3988 is the key (based on the article)

Intra-day H4 price is on secondary rally within the bearish area of the chart: the price is breaking 1.3988 resistance level to above to be reversed to the primary bullish market condition,

• "GBPUSD: Retail trader data shows 47.5% of traders are net-long with the ratio of traders short to long at 1.11 to 1. In fact, traders have remained net-short since Feb 13 when GBPUSD traded near 1.38838; price has moved 0.6% higher since then. The number of traders net-long is 12.4% lower than yesterday and 1.3% lower from last week, while the number of traders net-short is 9.3% lower than yesterday and 9.4% lower from last week. "
• "We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests GBPUSD prices may continue to rise. Positioning is more net-short than yesterday but less net-short from last week. The combination of current sentiment and recent changes gives us a further mixed GBPUSD trading bias."

============

The chart was made on Metatrader 5 using HWAFM tool pattern tool from this post together with the following indicators:

• Ichimoku Cloud - indicator for MetaTrader 5
• MaksiGen_Range_Move MTF - indicator for MetaTrader 5

[Sergey Golubev]

Crypto News - Bill To Legalize Blockchain Data Introduced In California State Assembly (based on the article)

• "A bill to amend California's electronic records law, aimed at recognizing blockchain transactions, digital signatures, and smart contracts as legal forms of record, has been introduced in the State Assembly. Assembly Bill 2658, titled "Electronic records: the Uniform Electronic Transactions Act: blockchain technology," was introduced by Majority Leader Ian Calderon."
• "The bill also addresses data storage on the blockchain. It proposes that individuals who choose to use a blockchain to secure personal information in the course of carrying out interstate or foreign commerce should retain the rights of ownership to their information."
• "Arizona had passed a similar bill last year, and Florida introduced similar legislation last month."

==========

Charts were made on MT5 with Brainwashing system/AscTrend system (MT5) from this thread (free to download) together with following indicators:

• MaksiGen_Range_Move MTF - indicator for MetaTrader 5
• ASCtrend - indicator for MetaTrader 5
• Ichimoku Cloud - indicator for MetaTrader 5
• HWAFM tool pattern tool from this post

==========

Same systems for MT4/MT5:

The beginning

1. ASCTrend system, the beginning, part #1
2. ASCTrend system, the beginning, part #2
3. ASCTrend system, the beginning, part #3
4. ASCTrend system, the beginning, part #4 
5. Digital ASCTrend (Digital Filters with ASCTrend system combined).
6. LabTrend (LabTrend indicators, LabTrendZigZag, templates, Labtrend EAs) - the thread

After

1. The main AscTrend thread is this one.
2. Asctrend indicator in depth 
3. ASCTREND SYSTEM summary (good EAs included) 
4. Brainwashing system/AscTrend system (MT5) - the thread 

[Sergey Golubev]

Gold - weekly ranging above the bearish reversal (based on the article)

• "Spot Gold: Retail trader data shows 65.8% of traders are net-long with the ratio of traders long to short at 1.93 to 1. The number of traders net-long is 2.0% lower than yesterday and 2.0% higher from last week, while the number of traders net-short is 2.5% higher than yesterday and 14.8% lower from last week. "
• "We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Spot Gold prices may continue to fall. Positioning is less net-long than yesterday but more net-long from last week. The combination of current sentiment and recent changes gives us a further mixed Spot Gold trading bias."

==========

Charts were made on MT5 with Brainwashing system/AscTrend system (MT5) from this thread (free to download) together with following indicators:

• MaksiGen_Range_Move MTF - indicator for MetaTrader 5
• ASCtrend - indicator for MetaTrader 5
• Ichimoku Cloud - indicator for MetaTrader 5
• HWAFM tool pattern tool from this post

==========

Same systems for MT4/MT5:

The beginning

1. ASCTrend system, the beginning, part #1
2. ASCTrend system, the beginning, part #2
3. ASCTrend system, the beginning, part #3
4. ASCTrend system, the beginning, part #4 
5. Digital ASCTrend (Digital Filters with ASCTrend system combined).
6. LabTrend (LabTrend indicators, LabTrendZigZag, templates, Labtrend EAs) - the thread

After

1. The main AscTrend thread is this one.
2. Asctrend indicator in depth 
3. ASCTREND SYSTEM summary (good EAs included)
4. Brainwashing system/AscTrend system (MT5) - the thread

[Sergey Golubev]

EUR/USD - ranging near 1.2537 level for the weekly bullish to be continuing (based on the article)

Weekly price broke 100 SMA/200SMA reversal levels for the bullish market codnition. If the price crosses 1.2537 resistance to above on close weekly bar so the primary bullish trend will be continuing, if not so the price will be on bullish ranging within the levels.

• "Last week, EUR/USD pulled back from the 2008 trend-line in-line with expectations, continuing the theme of weak one week, strong the next, back to weak again. Giving support at its feet and the overall trend the benefit of the doubt, yes, that looks like the most likely outcome. There lies a short-term trend-line from mid-January crossing under Thursday’s low. That could break, though, which wouldn’t be bearish just yet as there is a much more important line of support not far beneath dating back to May 2016."
• "All-in-all, heading into the new week the euro is still given the benefit of the doubt for another push higher, but should levels start breaking on the downside then the 2008 trend-line may have marked an important high, at least in the intermediate-term."

==========

The charts were made on MT5 with MA Channel Stochastic system uploaded on this post, and using standard indicators from Metatrader 5 together with following indicators:

• MaksiGen_Range_Move MTF - indicator for MetaTrader 5
• Double smoothed stochastic - indicator for MetaTrader 5

[Sergey Golubev]

Crude Oil - weekly bullish ranging near the bearish reversal levels (based on the article)

Weekly price broke 100-SMA/200-SMA area for the good breakout with the bullish reversal. The price is on ranging within 71.25 resistance for the bullish trend to be resumed and 61.74 support for the weekly bearish reversal to be started.

• "Two years ago, in February 2016, the price of oil was in the low $30 per barrel range. Predictions of doom and gloom abounded. At that time, the IEA warned that, “Unless something changes, the oil market could drown in over-supply." One third of all oil companies were at risk of bankruptcy. Economic indicators from China showed the slowest growth in 25 years, and despite multiple calls for OPEC to cut production, the organization did nothing."
• "Fast forward two years and oil has doubled in price. It is very likely that the price of WTI will finish February somewhere above $60 per barrel . Here are three surprising outcomes of the two year gains in oil prices."
• "Shale oil investors are still waiting to see profits. The shale oil industry has undergone a period of consolidation. Companies that did not go bankrupt have rid themselves of much waste. In general, shale companies in the U.S. have become more efficient and employed new drilling practices at lower costs. Nevertheless, all but the very largest have not been able to show a decent return on investment. This continues, despite the higher oil prices and record production in the United States."

==========

The chart was made on D1 timeframe with standard indicators of Metatrader 5 except the following indicator (free to download):

• MaksiGen_Range_Move MTF - indicator for MetaTrader 5

[Sergey Golubev]

FAANG Stocks (based on the article)

STOCK	Performance 2014-2018
Netflix	408.40%
Amazon	262.34%
Facebook	243.28%
FAANG Equally Weighted	227.05%
Google	110.64%
Apple	110.59%

• "FAANG is an acronym, which stands for the first letters of the five companies Facebook, Apple, Amazon, Netflix, and Alphabet’s Google. These five companies have not only been some of the best-performing large-cap stocks over recent years (although Netflix only qualified as large-cap in 2013, when its capitalization consolidated above the $10 billion threshold), they have defined a zeitgeist, led a roaring bull market, and changed the way many of us live, at least in the world’s more economically developed countries."
• "All five of the FAANG companies have been members of the benchmark S&P 500 Index for some time, but one of them (Netflix) is not a member of the larger-cap S&P 100 Index, so it is most suitable to use the S&P 500 as a benchmark to measure their performances. The FAANG stocks comprise just under 12% of the index’s total market capitalization."
• "It is usually not a wise idea to day trade stocks at all unless they are leading stocks in a very strong bull market. This is because stocks are typically extremely volatile and subject to intraday manipulation by market makers. Day trading instruments such as Forex is usually much safer, giving the trader a better chance to make a profit. Don’t forget that stock CFDs usually have relatively high spreads at even quality CFD brokers and holding them overnight will incur fees that will eat into profit enough to prevent it being a feasible method of investing in FAANG companies. If you are going to day trade FAANG stocks, doing it long only when both the broader market indices and the stocks themselves are making new all-time highs is going to give you the best chance of success. Yet a much better approach to making money from the stock market is usually found in investing in a portfolio of several stocks and rebalancing no more than once per month."

==========

The chart was made on D1 timeframe with standard indicators of Metatrader 5 except the following indicator (free to download):

• MaksiGen_Range_Move MTF - indicator for MetaTrader 5