Saturday

Thursday left us with a Bearish "Meeting Lines Pattern", and while Friday's " Black Spinning Top" is not a sell signal by itself, it it is going to be a bear (pardon the pun) for the Bulls to overcome.

Any black candle will be a confirmation for the Bears.

The Bulls have had a good run, but can they pull off another white candle?
Daily Candle Chart

Likewise the M60 chart has a bearish "Hammer", and confirmation could come from any black candle closing below 1147 in the first hour of trading. That's about 4 points. So the Bulls want to push the market higher during the first hour of trading on Monday, and more important is a close above Fridays close.

The best Bearish confirmation would come from a gap down or a long black candle on heavy volume.

As you may recall, I have determined by other methods that the 1135 area is key. Look where first Kumo support lays on the M60! And while it is true that the Ichimoku is Bullish; a 4 point drop is all it would take to shoot a a warning shot over the Bulls bow.

M60 Candle Stick Chart

The Kagi chart indicates similar levels. 1138 would bring the first sell signal and breaking 1135 would set the chart into a full fledged Bear move.

The Renko chart shown below is shown with trend lines and cycles. Make of it what you will.

Hey Klout, How do these cycles fit with yours?

OK this may not be a serious study, but I saw this, and thought it was significant. TOS just gave us the ability to create
Price to Volume "Volume Profile" and
Time to Volume "Time Price Opportunity (TPO)" charts.

I then laid a Fibonocci Chart on it and we have some pretty interesting correlations.




Analysis presented on this Blog has only informational, and educational purpose, and does not represent a proposal for buying or selling currency contracts.