Thankyou newdigital for your extensive summary (do you ever sleep?).
Ichi Update EURO
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).
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.
Cheers - Sam
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.
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.
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:
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.
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.
Ichimoku, M30 timeframe.
We are not using Ichimoku indicator on M30 timeframe.
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.
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.
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.
Thankyou newdigital for your excellent summary
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.
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.
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.
It was sell signal half an hour ago.
Nearest resistance is 1.2167. Low for this day is 1.2165. Support lines are 1.2205 1.2211. Sell stop at 1.2112. Buy stop at 1.2261.
Ichimoku, M15 timeframe.
It was good sell signal 1 hour ago. Downtrend with the target 1.2168 or 1.2170.
Good sell signals was 1 hour ago. Downtrend from yesterday. Very risky to trade now because the price is trying to be reversed to uptrend. According to all the indicators this downtrend is finishing already. But everything may be changed because of M15 timeframe.
The price is floating between 1.2206 and 1.2167.
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