Monthly
Monthly :
Chart somehow indicates that price may still have room to go up in the long term. The Brown Channel shows potential move going to hit the upper side of the channel for a possible W1=W3 or Wa=Wc in Elliott Wave Principles.
Ichimokou Kinko Hyo on the otherhandahowa price possibly attracted to the flat side of that Kumo Cloud. That Peak in 2007 and the Bottoming in 2009 seems 1 complete move for an Elliott Wave count. So that what we may be seeing as a move UP from that 2009 Bottom could be a Wave B UP. Kijun-sen and Tenkan-sen are shown to have crossed while price has crossed over to the other side of these 2 crossed lines.
GMMA or the Guppy Multiple Moving Average lines for me still do not show confirmation that price is definitely moving up.Unless price crosses over to the otherside of that RED bunch of lines, then possibly Price is on the upswing.
Wave Structure Oscillator to me indicates that the move up from low of 2010 is possibly a W3 or Wc with W0 from the bottom in 2007.
Weekly
Weekly Chart
We can see that price is struggling to stay or find support on the lower median line of an Upward Andrews Pitchfork. On the otherhand we also see that the Kumo cloud still indicates a potential upswing for price on this weekly chart. The Price target for the EWA + Median Line Analysis has not yet been reached and yet Time target to achieve this has already exceeded suggested level. Harmonic Pattern also indicates more move UP for price. The upper side of that Brown upward channel shows it intersecting the median line of that pitchfork and also intersects the RL 100.0 line.
Daily
Daily Chart
Price has remained inside the the upward pitchfork and way above the Kumo cloud. Price on the daily could be seen as still on an upward swing.
4hr
4Hour
Price shows a potential W4 down finishing off from W0 in March 28. I would think that price will find support on the nearest side of that Kumo Cloud considering the possibility of that thick cloud indicating some form of support representing the sentiments in the market. Red Wave Structure Oscillator seems to indicate that Price has finished of an overbought level and has now crossed the Level 50 line potentially seeking oversold level. RSI shows that an overbought level has peaked potentially and we may start looking for a possible Price Divergence as price seeks a higher level and the RSI Oscillator fails to surpass the previous oscillator high for W3 UP.
1Hour
1Hour Chart
This chart shows price falling below the Kumo Cloud and price possibly finishing an ABC wave for EW4. Kijun-sen and Tenkan-sen have crossed and seem to be below the Kumo cloud with the price. Wave structure Oscillator and RSI has reached potential oversold levels. It can reverse right now or continue down. However, if you look at the Kumo cloud ahead of it, it is a bit thin to provide resistance incase price reverses and moves up to cross it again for a potential W5 up.
Below are the lower time frame charts which somehow can provide us with a glimpse of what may happen next.
30min
15min
5min
1min
Below is a screenshot of the Platform I am using. Trades are not that huge and these are kept at 4% of orginal capital. making 5-10% on each trade is good enough for me. There are time trades suffer a drawdown. But we wait for it to recover.
Trades are not entered everyday. No pressure and we wait for a nice potential set up. If a trade is entered and it goes against us, we wait. a 2nd or a 3rd trade may still be attempted in the same direction when a potential set up is observed. Otherwise a counter trade is entered when the situation presents a better option in terms of the technical analysis.
This is an attempt at possibly posting charts on a regular basis. I know it is not that easy to analyze charts using multiple strtaegies and in different time frames then come up with charts to post and explain. It is much easier to just look at my chart, switch time frames and trade.
So please bear with me, in this endevor to share my opinion on how I see the market moving or where price is possibly headed to.
Good trading and profitable trades to you all.
EG
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