Press review - page 596

[Sergey Golubev]

This is NFP today - 

[Sergey Golubev]

Abandoned Baby candlestick pattern (based on the article)

• "The Bullish Abandoned Baby candlestick pattern is a reversal pattern. The pattern has three candles. It forms at the bottom of a trend. In this pattern, the first candle is any long and bearish candle. The second candle is a small and bearish candle—or a Doji. The second candle doesn’t overlap the first or third candle. The third candle is any long and bullish candle."
• "The Bearish Abandoned Baby pattern is a reversal pattern. The pattern has three candles. It forms at the peak of a trend. In this pattern, the first candle is long and bullish. The second candle is a small and bullish candle—or a Doji. The second candle doesn’t overlap the first or third candle. The third candle is long and bearish."

[Sergey Golubev]

EUR/USD - daily ranging near and above the bearish reversal Senkou Span levels (based on the article)

• "The question to whether the euro is topping or undergoing a healthy correction of course awaits its answer, but there are a couple of signposts to watch. This coming week could go a long way towards getting closer to our answer. Heading into last week, we were looking for a bounce to eventually stall and turn down, putting in a lower-high from the double-top formed around the 2008 trend-line. Following the ECB and Friday NFPs, the decline off the weekly high looks to have cemented a lower-high."
• "At first glance this could be a bearish development, and while the tone is set for lower prices in the short-term, support in the vicinity of 12150/100 will be quite impactful to the broader outlook. How the euro reacts to support (should it test it) will be telling as to whether the price action dating back to January is corrective or of the topping variety."

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

• MaksiGen_Range_Move MTF - indicator for MetaTrader 5
• Price prediction by Nearest Neighbor found by a weighted correlation coefficient - indicator for MetaTrader 5
• Fibo Bar MT5 - indicator for MetaTrader 5

[Sergey Golubev]

Crypto News - Bitcoin: ranging bullish in long-tern situation; 5,897 is the key for the global bearish reversal (based on the article)

Weekly price was bounced from 16,474 resistance level to below for the bullish ranging near bearish reversal support area. If the price breaks 5,897 support level so the global bearish reversal of the Bitcoin price will be started, if not so the bullish reanging will be continuing for the long-term situation.

• "Five bearish lower high/lower low candles in a row this week emphasize the current weak state of cryptocurrency heavyweight Bitcoin. Not only has BTC broken through support offered by zone one and two, it has also re-entered the downtrend from the December 17 high of just $20,000. And to add to the bearish outlook, the 78.6% Fibonacci retracement level at $8523 was broken, although BTC currently trades back above this level. Support currently around $7,600 – the bottom of the downtrend – ahead of $6,000, the February 6 low print. On the upside, BTC will have a cluster of resistance levels between $9,300 and $11,600 to break and close above before the chart begins to look positive."

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

• MaksiGen_Range_Move MTF - indicator for MetaTrader 5
• Price prediction by Nearest Neighbor found by a weighted correlation coefficient - indicator for MetaTrader 5
• Fibo Bar MT5 - indicator for MetaTrader 5

[Sergey Golubev]

Gold/Silver price ratio (based on the article)

The below chart showing top gold reserves being accumulated by countries.

• "Comparatively, the Gold to Silver ratio is indicating that it would take nearly 79.66 ounces of Silver to equal 1 ounce of Gold (in terms of price comparison). This level typically indicates that Silver is dramatically undervalued compared to Gold. Yet, as we believe the price of Gold is about to launch to new highs and potentially push much higher into the future, this would indicate that opportunities for investment in either Gold or Silver could be substantial."
• "Currently, the price ratio between Gold and Silver points to the opportunity that Silver will advance in price faster than Gold, yet we believe these ratios could remain relatively stable as both price levels advance substantially."
• "Our predictive modeling system is showing a very strong likelihood that Gold will rally to near $1380 within just a few weeks and continue to rotate near this level for a period of many weeks. This move, establishing a new recent high price level as well as potentially prompting a rising fear level in global investors may prompt a disparity in the Gold to Silver price ration resulting in a much more dramatic price advance in Silver."
• "Investors should prepare for a moderately strong price advance in the precious metals that may be associated with a US Dollar price decline as well as a moderate price advance in certain commodities. Now is the time to think about how you can profit from these moves and the potential disparity in the Gold/Silver price ratio."

[Sergey Golubev]

How to Trade Profitably with Inside Bars (based on the article)

Trading with inside bars is a very popular trading method because it is believed to a be an excellent way to find high reward, low-risk trade entries. Yet many traders find they fail with this method. Does it really work well, and are there any ways to make it work better?

"The traditional trading method of using inside bars to find trade entries is quite simple. In the first step, you wait for an inside bar (or candlestick if you prefer, they are the same thing) to form. What is an inside bar? An inside bar is a bar with a lower high and a higher low than the immediately preceding bar. It is called an “inside bar” because its range is “inside” the previous bar. An example of an inside bar formation is shown below."

"Once the bar has formed, it is time for the second step. A buy stop order (a long trade entry) is placed just a fraction (let’s say one pip) above the high of the inside bar, with the stop loss placed just a fraction (again let’s say one pip) below the low of the inside bar. An opposite order is placed at the same time: a sell stop order (a short trade entry) is placed just a fraction (let’s say one pip) below the low of the inside bar, with the stop loss placed just a fraction (again let’s say one pip) above the high of the inside bar. Then, price movement will eventually trigger one of the entry orders, at which point the opposite reverse trade should be cancelled. For example, if the price goes at least one pip above the high of the inside bar, a long trade is entered, with the stop just below the inside bar, and the short trade entry is cancelled. To be valid, an entry must be triggered on the very next candle. In the diagram above, a short trade entry would have been triggered, as the price broke below the low of the inside bar, and the high of the inside bar was never broken."

"A slight variation on this method which is also popular, is to place the stop loss on the other side of the “mother” bar (the bar just before the inside bar). This means that the entry is the same, but the stop loss is always wider. We will look later at whether this is a good idea, but we will stick with the method as originally described for the time being."

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The chart was made with inside bars indicator for Metatrader 4 

Price Action. Automating the Inside Bar Trading Strategy -the article

[Sergey Golubev]

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

Daily price is on bearish ranging below Ichimoku cloud for the 107.20 resistance level to be testing for the secondary rally to be started,

• "After trading in a rather tight sideways range of a few hundred pips, USD/JPY may have found a volatility catalyst in the Moritomo scandal that has recently resurfaced. Nikkei News Asia said it best, and most succinctly when they said, “The revived scandal threatens Prime Minister Abe's grip on power. Either way, the USD/JPY downtrend remains entrenched below on closes below 107.095 (spot at 106.43), and institutions are looking for the broadening potential that USD/JPY could retest 100 if the scandal erupts. 
• "The JPY has yet to break the March range of 105.25-107.20. However, news that Abe’s key minister, Aso will skip the G20 meeting and further developments on the Moritomo Gakuen, the educational foundation with supposed nationalist agenda could cause the monthly low to break. The break would likely happen quick if Abe’s political future based on his promise last February were likely to be exercised ending his bid to become Japan’s longest running Prime Minister."

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

• MaksiGen_Range_Move MTF - indicator for MetaTrader 5
• Price prediction by Nearest Neighbor found by a weighted correlation coefficient - indicator for MetaTrader 5
• Fibo Bar MT5 - indicator for MetaTrader 5

[Sergey Golubev]

EUR/USD Intra-Day Fundamentals: Consumer Price Index and range price movement 

2018-03-13 12:30 GMT | [USD - CPI]

• past data is 0.5%
• forecast data is 0.2%
• actual data is 0.2% according to the latest press release

if actual > forecast (or previous one) = good for currency (for JPY in our case)

[USD - CPI] = Change in the price of goods and services purchased by consumers.

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From official report :

• "The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent in February on a seasonally adjusted basis after rising 0.5 percent in January, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index rose 2.2 percent before seasonal adjustment."

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EUR/USD M5: range price movement by Consumer Price Index news event 

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The chart was made on M5 timeframe with standard indicators of Metatrader 5 except the following indicator (free to download):

• MaksiGen_Range_Move MTF - indicator for MetaTrader 5

[Sergey Golubev]

Crude Oil Price Forecast: bearish ranging near bullish reversal levels (based on the article)

Daily price is on ranging near and below Senlou Span line which is the virtual border between the primary bearish and the primary bullish trend on the chart. If the price breaks 66.33 resistance to above so the bullish reversal of the daily price will be started, if not so the price will be contiuing on bearish ranging waiting for direction.

• "Recently, data from the EIA showed a rise in US stockpiles after excessive declines through H2 2017. Typically, a rise in stockpiles wouldn’t offer too much concern except that US production rose to a record high. Earlier this week, the EIA Drilling Productivity Report highlighted US shale production as likely to increase further in April to a record high 6.95mm bpd. This data will act as a cloud preventing further bullishness from taking over unless demand picks up mightily. Another way of seeing this fear of supply pressures is through futures spreads, which help show if traders and hedgers in the physical market see Contango where the front dated contract trades at a premium or backwardation where the front-month contract trades at a premium and often supports a broader bullish view."
• "We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Oil - US Crude prices may continue to fall. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Oil - US Crude-bearish contrarian trading bias."

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

• MaksiGen_Range_Move MTF - indicator for MetaTrader 5
• Price prediction by Nearest Neighbor found by a weighted correlation coefficient - indicator for MetaTrader 5
• Fibo Bar MT5 - indicator for MetaTrader 5

[Sergey Golubev]

Apple and Google dropped in annual ranking survey (based on the article)

• "Apple Inc and Alphabet Inc’s Google corporate brands dropped in an annual survey while Amazon.com Inc maintained the top spot for the third consecutive year, and electric carmaker Telsa Inc rocketed higher after sending a red Roadster into space."
• "IPhone maker Apple dropped to 29th from its previous position of No. 5, and Google dropped from 8th to No. 28. Apple had ranked No. 2 as recently as 2016, according to the annual Harris Poll Reputation Quotient poll released yesterday."
• John Gerzema, CEO of the Harris Poll, said in an interview that the likely reason Apple and Google fell was that they have not introduced as many attention-grabbing products as they did in past years, such as when Google rolled out free offerings like its Google Docs word processor or Google Maps and Apple’s then-CEO Steve Jobs introduced the iPod, iPhone and iPad. "Google and Apple, at this moment, are sort of in valleys,” Gerzema said. “We’re not quite to self-driving cars yet. We’re not yet seeing all the things in artificial intelligence they’re going to do."

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

• MaksiGen_Range_Move MTF - indicator for MetaTrader 5
• Price prediction by Nearest Neighbor found by a weighted correlation coefficient - indicator for MetaTrader 5
• Fibo Bar MT5 - indicator for MetaTrader 5