Gemeinschaft
Blog
Daytrader21's Blog

Daytrader21's Blog

Avatar

AUD/CAD Range Box Effect

Daytrader21 Posted 15 Mar. as Analysis on AUD/CAD, Target: 0.9713, Date: 1 von May, 12:00 GMT  in #Technical analysis #AUD/CAD #Consolidation #Elliott Wave #Range #Boxes
AUD/CAD is one of those currency pairs which are moving in prolonged consolidation and range bound zones. Right now we have established another range between 1.0350 resistance zone and 0.9400 support zone. It is very common to use the middle of previous range box as resistance/support. We can see in our case how 1.0350 was the middle of previous box and now it's acting as resistance level for the current box.
Figure 1. AUD/CAD Weekly Chart

In Figure 2 we can have a look at the daily cha…
Die komplette Geschichte lesen
Übersetzen in Englische Sprache Zeige Original

Da Sie nicht eingeloggt sind, kennen wir Ihre gesprochene Sprache nicht, nehmen jedoch an es ist Englische Sprache
Bitte loggen Sie sich ein oder wählen Sie eine andere zu übersetzende Sprache aus der Liste.

– oder –

9 Kommentar
ehr Kommentare anzeigen
Angelwales avatar
Angelwales 18 Apr.

looks great nice ....

Daytrader21 avatar
Daytrader21 25 Apr.

Update 5: AUD/CAD support level at 0.9400 is holding up quite well and it seems there is a lot of accumulation around this level going on in the markets. We should expect a break higher above 0.9600 current resistance of this consolidation zone and after that level gives up the next resistance level is 0.7300 around our target

Metal_Mind avatar
Metal_Mind 26 Apr.

good luck

Mani avatar
Mani 26 Apr.

good luck

Daytrader21 avatar
Daytrader21 28 Apr.

Update 6: As per my previous update the market indeed broke above current box, which was a zone of accumulation by the smart money, between 0.9400 support level and 0.9570 resistance level. As soon as we broke above this range zone the momentum has pushed up quite strong without even looking back, confirming us that this is a genuine breakout. If we project this range zone to the upside we get at least a target of 0.9740 which is near previous swing high (see figure attached)

oderum Kommentare zu hinterlassen
Avatar

NZD/CAD Range Trade Boxes

Daytrader21 Posted 15 Mar. as Analysis on NZD/CAD, Target: 0.9593, Date: 1 von May, 12:00 GMT  in #Technical analysis #Support #Resistance #Bullish #Trend Line #NZD/CAD #Range #Boxes
NZD/CAD has been moving over the paste few years in a big range boxes and that's usually the case with a lot of pair crosses as this is their normal behavior. In Figure 1 we can see how this price action looks like. Usually when we enter in the territory of a new range boxes the new boxes that will form in the right side of the chart will use the middle of the range box from the left as the top and as the bottom will use the middle of the box from beneath the price action where most likely there…
Die komplette Geschichte lesen
Übersetzen in Englische Sprache Zeige Original

Da Sie nicht eingeloggt sind, kennen wir Ihre gesprochene Sprache nicht, nehmen jedoch an es ist Englische Sprache
Bitte loggen Sie sich ein oder wählen Sie eine andere zu übersetzende Sprache aus der Liste.

– oder –

7 Kommentar
ehr Kommentare anzeigen
Daytrader21 avatar
Daytrader21 11 Apr.

Update 3: The market has established another range box between 0.9600 resistance zone and 0.9350 support zone with 0.9550 middle of the box. For the next few weeks we should see the market trading between this two extreme points

Daytrader21 avatar
Daytrader21 18 Apr.

Update 4: We retested the 0.9350 support zone and the bottom of our range box.Next week we need a break and a close above the big round number 0.9500 for further upside. We're still in a range and us such we should expect the market to bounce between this levels

Angelwales avatar
Angelwales 18 Apr.

I like the going up ....  nice

Metal_Mind avatar
Metal_Mind 26 Apr.

rise and shine . Seem to be going in the right direction

Mani avatar
Mani 26 Apr.

nice

oderum Kommentare zu hinterlassen
Avatar

NZD/CHF Trading Box Effect

Daytrader21 Posted 30 Nov. as Analysis on NZD/CHF, Target: 0.7485, Date: 2 von January, 12:00 GMT  in #Technical analysis #Support #Resistance #NZD/CHF #Liquidity #Range #Boxes
Nothing much has happened with NZD/CHF in last few years as we are moving in an never ending ranging zones. On the weekly chart (see Figure 1) you can notice this trading range boxes on top of each other which are characteristic in this range environment and which clears further current price structure. Usually the top/bottom of previous range box provides support or resistance for the next trading box as old resistance has become new support and vice versa. But there are times when price do…
Die komplette Geschichte lesen
Übersetzen in Englische Sprache Zeige Original

Da Sie nicht eingeloggt sind, kennen wir Ihre gesprochene Sprache nicht, nehmen jedoch an es ist Englische Sprache
Bitte loggen Sie sich ein oder wählen Sie eine andere zu übersetzende Sprache aus der Liste.

– oder –

3 Kommentar
Daytrader21 avatar
Daytrader21 8 Dec.

Update 1:  We're still in the consolidation phase and we should expect during this time of the year with low level of liquidity the market to move in narrow ranges. Next support level remains at 0.7400 before any reaction

Daytrader21 avatar
Daytrader21 22 Dec.

Update 2: We're still trading within this big range boxes and we're going to continue to do so especially during this period of the year when liquidity is very low and the market stays within some even more narrow ranges.

Daytrader21 avatar
Daytrader21 27 Dec.

Update 3: The fact that we haven't succeeded to break above previous swing high 0.7685 suggest that we are headed back within the range box and the only way we could hit our target on time is for the market to close below 0.7585 during the Monday session this way the momentum can gain speed to the downside.

oderum Kommentare zu hinterlassen
Avatar

NZD/USD Looking Beyond the Carry Trade

Daytrader21 Posted 14 Sep. as Analysis on NZD/USD, Target: 0.8042, Date: 3 von November, 12:00 GMT  in #Technical analysis #Consolidation #NZD/USD #Channel #Range #Boxes #H S Pattern
Since current price action of NZD/USD has been greatly influenced by the carry trade this time we're going to look on just the technicals. On the weekly chart (see Figure 1)we can see that starting from around last year NZD/USD has start developing an upward channel which we're currently testing the downward trend-line which will provide a good support at around the 0.8000 big psychological level. Also we can see that we may be developing a H&S pattern on the weekly chart which it may not work b…
Die komplette Geschichte lesen
Übersetzen in Englische Sprache Zeige Original

Da Sie nicht eingeloggt sind, kennen wir Ihre gesprochene Sprache nicht, nehmen jedoch an es ist Englische Sprache
Bitte loggen Sie sich ein oder wählen Sie eine andere zu übersetzende Sprache aus der Liste.

– oder –

4 Kommentar
Daytrader21 avatar
Daytrader21 11 Oct.

Update 1: As expected 0.7700 is a strong support level which will produce a bounce towards the round number 0.8000 in coming weeks as on the daily chart this sell off looks oversold. For next week we have resistance at 0.7930 and support at 0.7750.

Daytrader21 avatar
Daytrader21 19 Oct.

Update 2: Over the last 2 weeks we have been moving in a wide range between 0.7700 support level and 0.8000 resistance level. This base that we have develop will provide the momentum for the next up leg. For next week we have support at 0.7840 and resistance at the big round number 0.8000. Only a break and a close above 0.8000 will means the bulls are back in control until than expect further consolidation.

Daytrader21 avatar
Daytrader21 25 Oct.

Update 3. Kiwi is completing a double zig-zag pattern in this range from 0.8800 resistance level to 0.7700 support level. But in order to complete wave Y we need another push up towards 0.8800 as the sell of from that level is only wave b of Y and we need another rally to complete wave c of Y

Daytrader21 avatar
Daytrader21 29 Oct.

Update 4: As expected we're now in wave c of Y and current rally comes in line perfectly with my last update.  Still this rally is not yet completed until we retest the big round number 0.8800. In order for this analysis to be correct the market should not go below the 0.7900 level.

oderum Kommentare zu hinterlassen
Avatar

EURGBP Technical Analysis-ABC Correction

Daytrader21 Posted 18 Oct. as Analysis on EUR/GBP, Target: 0.8360, Date: 2 von December, 12:00 GMT  in #Technical analysis #Consolidation #EUR/GBP #Elliott Wave #Correction #Cycles #Boxes #Price Pivot Zones
From beginning of the year eurgbp was stuck into 0.8815-0.8395 range zone which recently was broken to the downside. This only suggest that the up trend from the 0.7753 swing low is in correction mode. Taking this in consideration we should expect and ABC correction of the entire up trend from the 0.7753 low. History of eurgbp suggest that we should see a complex correction and we already had a zig-zag pattern forming the first wave A of our correction.
Although for now we broke bellow our 0.…
Die komplette Geschichte lesen
Übersetzen in Englische Sprache Zeige Original

Da Sie nicht eingeloggt sind, kennen wir Ihre gesprochene Sprache nicht, nehmen jedoch an es ist Englische Sprache
Bitte loggen Sie sich ein oder wählen Sie eine andere zu übersetzende Sprache aus der Liste.

– oder –

11 Kommentar
ehr Kommentare anzeigen
Daytrader21 avatar
Daytrader21 2 Nov.

Update 3: AS I said in my previous update the market will not sustain any upside momentum and the fact that we get a big sell of confirms that the rally was a fake out. Price should now consolidate between 0.8500-0,.8300. In this stage we should expect more consolidation before any decent move in either direction

Daytrader21 avatar
Daytrader21 8 Nov.

Update 4: We have our confirmation now that the last spike up was a false move, and although we hit yesterday our target the fact that we made a new low suggest further consolidation around this level. The magnitude of the sell of suggest the market has to take a break before any big move to take place. 0.8280 is the maximum low it can go from there I'm expecting the market to recover and to establish a range between 0.8280-0.8400

Daytrader21 avatar
Daytrader21 15 Nov.

Update 5: We already hit our target but based on Elliot Wave theory we should see further consolidation in wave B. In order to have our target in place for the next month deadline the 0.8300 mus thold as support level

Daytrader21 avatar
Daytrader21 22 Nov.

Update 6: As predicted in my last update the market has been trading in a tight consolidation zone between 0.8400 resistance level and 0.8300 support level, the only worries I have is for the market not to break earlier, but there is a possibility of developing a zig-zag pattern

Daytrader21 avatar
Daytrader21 29 Nov.

Update 7: The market is very close to my prediction target for eurgbp as the 0.8300 level have been a strong support and limited any downside movement. Wave B is already completed and the momentum should start to pick up again as the whole ABC correction is completed. Next phase is for a five wave sequence to the upside which may encounter some difficulties at 0.8570

oderum Kommentare zu hinterlassen