@ralomHope you well & finally got a chance to look at some TLS...

@ralom

Hope you well & finally got a chance to look at some TLS charts.

Posting here in the "charts" thread, not out of deference to certain posts around the merits of where something should be posted but to respectfully allow others to not have to avail themselves

Anyway, have provided 4 charts as you know I use diff indicators & candles as they are driven by varying formulas and source data and look for correlations. There are 3 daily & 1 wkly in bar format & heiken ashi candles. Have numbered areas of interest on each and try give a brief description.

As you know, charts are not a crystal ball or magic bullet as some seem to think we make them out to be but merely another tool to complement FA, a visual representation of what the market (or buyers / sellers) are and have done at certain levels or have reacted certain ways to various FA catalysts. With the timeframes I'm using, these are a wider view not real ST looks at moves.

Overall, I'm seeing the mid term uptrend & underlying bullishness you mentioned however we can also how since mid April there has been an easing of the up movement and some sideways through an possible historical supp / resist zone (refer weekly chart particularly). The mkt appears to be considering next move at this level and worth watching for any further weakness or poss further consol.

1. Indicator looking for potential pivot areas as shown right axis plus have seen a slightly wider spread closing lower today. Watch for any further confirmation of weakness as mentioned.
2. Yellow line is a moving avg of 6 diff timeframe moving avgs & can provide another area of supp / weakness. Also seeing a slight cup form though the related vol profile doesn't completely support a possible textbook C&H pattern. Normally a C&H would have a vol spike left side of cup, falling vol / consol through the base, a spike to right side & pull back to a handle. Still worth noting though.
3. Vol profile showing a 7 day MA but also seen a slight ease of vol correlating to the more recent sideways movement overall.
4. Another form of vol profile looking for spikes for poss turning points or consol areas - can see blue squares as example areas.
5. ST trend indicator that paints the SP bars accordingly.



1. Vol profile with collating of vol traded at certain level. Orange lines are spike or peak vol areas, also poss points of supp / resist.
2. Uses a 3 & 13 day MA for crosses or possible consol areas. Red dot 3 cross down 13, blue 3 up through 13 & x consol areas. Look at these in relation to what the SP does.
3. Vol looking for levels of vol spikes.
4. RSI indicator. Not OB as yet but on that side. Red OB & Green OS.



1. Heiken Ashi candles calculated diff from normal candles to try filter noise. Can see the trends more clearly and possible turn or consol points when indecision dojis appear as todays candle whilst mkt decides. When the Tenkan (yellow) crosses the Kijun (purple) & rises this is more bullish. Both have flattened a little at the mo as has the Kumo (cloud) which is also poss supp / resist areas. Thicker the Kumo generally the more supp / resist. There is also Fib lines and can see has recently been hovering around that 23.6 line for supp.
2. Just example of Kumo supp previously.
3.Panel reflecting a number of other indicators and where they currently lean according to their parameters.
4. Slightly easing vol.
5. Can see the correlation of the histogram to SP moves. Stronger the histo the stronger the SP move. Can see the waves easing in line with aforementioned sideways. The little triangles are when SP moves above or below a 34 D Hull moving avg. The dots indicate a squeeze using Bollinger Bands & Keltner channels with yellow being more extreme squeeze and poss break either up or down.
6. Same trend indicator mentioned before.



1. Simple weekly correlation of areas shown to have levels for supp / resist plus a Fib. Also shows the recent ease of UT.
2. Same vol profile chart 1.
3. Money Flow Index showing OB area but can still sit up here on trend. If breaks down then can see SP reverse.
4. Spread against MA correlates to the DT & UTs you can see on the chart.