Election day : a way to detect bottom price

Bankers chip is a good indicator to detect bottom price for UJ, STI,  KLCI, and post election, end of retracement on Gold after a good bull rush on election day. 

Gold after a good run, retraced to 1270 area, BC did a good job to detect the EOT. 

USD JPY end of retracement detected well.


Downtrend end detected in KLCI

22/9/16 – Effect of thick Kumo

When Ichimoku Kumo (Cloud) is thick and is uptrend, it in theory may post as good support for a retracing price. This is the case for NQ on 11/9/16. What we see today strong uptrend of NQ after retracement, from 21/9-23/9, seems like a bull, but dont forget 9/9-10/9, market seems to be falling off the cliff. I would thought its the start of downfall of NQ, but I was wrong. The clue provided was VSA, Harmonic, Kumo, BB supports during this seemingly downfall days.

Thus do not underestimate a thick Kumo.

NQ_22-9-16_daily.jpg

NZDUSD behavior 16/9/16

7.45pm is the strength crossover. Price cont to drop n didn’t reverse.

When day strength is NZD >USD, and hour strength is NZD  < USD, we can expect near term drop, in 15min chart, esp when the strength lines cross over.