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US-Oil/WTI 19th FEB What's up guys! Another breakdown here, this time for US oil market. As you can see from this breakdown, we have a clear area of demand that price is rejecting away from. Based on this and where we stand in overall structure, I am expecting bullish movements to take us into the area of supply highlighted above. From that point, I am going to watch to see if the price is either going to hold there or breakthrough to continue higher. Overall, I will be looking for longs into the supply in shorts away from the supply, but of course, we do not know fully if this area of demand below will hold. So I'll be looking for a short-term entry to go long. If we break the supply above and continue higher, I'll be targeting the triple top highlighted in green. Worst case, we don't break through the area of supply and we continue going short, in that case, I'll start aiming for the low which is highlighted in red. Another pretty simple breakdown. Overall, I'm looking forward to trading this pair this week as it shows lots of potential. Remember guys, if you like this idea, hit that boost button. Drop us a comment down below. Let us know what you think. As always guys trade safe, stick to your trading plan. I hope you all have an amazing trading week.
OANDA:WTICOUSD
by rosshayes
DXY 19th FEBFirst DXY breakdown we have posted, overall we wanted to show you the correlation between the other USD pairs that we posted today and overall how you can use this as a correlated trading pair. For anyone that doesn't know, the dollar index directly correlates to any pairs with the US dollar... If you look at this chart matched with any of the US dollar charts and their correlated pairs, you will see a reverse correlation. This allows us to anticipate certain trades for indexes and currency pairs. using direct correlations can bring much more accuracy to your trades that correlate with this index. Right here you can see we created a clear bullish movement to the upside. We have also put in a range which is also bullish. We have clear areas of demand that we are sitting above currently I'm expecting the price to continue bullish from these areas of demand. If the price does not hold and we break lower, until we take out the major low highlighted with the green dot we are still bullish overall. Remember guys, if you like this idea, hit that boost button. Drop us a comment down below. Let us know what you think. As always guys trade safe, stick to your trading plan. I hope you all have an amazing trading week.
TVC:DXYLong
by rosshayes
1
GBPUSD 19TH FEBGBP USD following the Australian dollar. We are looking for this to continue bearish here we have clear structural breaks on the larger time frame. We have clear areas of supply above as well as filling the short-term fair value gaps and imbalances. We are expecting this bearish movement to continue to our lower target which is the previous low created. A pretty simple breakdown for this week as we would like to just follow the trend. Remember we always look for smaller time frame setups to determine the best possible entry point. Also, if the price does go against our overall bias, we adapt and react to the market accordingly. Remember, you do not want to be too attached to your bias because it's what you want the market to do. You always have to keep an open mind and remember that price can do as it pleases... But for me, this breakdown is pretty simple and I'm expecting continuations to the downside. If we break the high of the short-term range, we can then start to consider possibly price shifting higher. Overall we are inside of a larger downward range, so overall I am still bearish regardless of this. Remember guys, if you like this idea, hit that boost button. Drop us a comment down below. Let us know what you think. As always guys trade safe, stick to your trading plan. I hope you all have an amazing trading week.
Short
by rosshayes
1
AUDUSD bias 19th FEBSo we're back again for another AUDUSD breakdown. Following the idea posted last Sunday, we had some amazing bearish movements. CPI caused a slight deviation with our supply above, but held overall and delivered price lower. Coming into this week, we're looking at a pretty similar scenario. Price has broken down and left to clear areas one it is sitting in currently. After clearing minor imbalances and tapping into this supply area, we have now seen price start to deliver shorts on the smaller timeframes. It's a pretty simple breakdown for this week and I'm looking for clear bearish movements lower, with our target being the large demand area that has not yet been tested. Overall, I'll be looking for bearish movements pretty much from market open. But as always, we will monitor the lower timeframes to find our best entries to take this move if it's going to happen. Remember guys, if you like this idea, hit that boost button. Drop us a comment down below. Let us know what you think. As always guys trade safe, stick to your trading plan. I hope you all have an amazing trading week.
Short
by rosshayes
1
Market Bias & Top Stock Watches - 2/16/2023 - Bearish GrinderBias: Bear chop. Bit of support near 409, under that room to 406. Big gap down at support so expect an early bounce. Top Watches: I will update this post with my top four long and short ideas between 9:25 - 9:30 EST. Tune in to my stream at 9:45 EST for my full list of top stock watches and to watch me trade them Live! Follow @JLaing for a timely morning bias of the market like this, top stock watches, and live day trading every morning!
AMEX:SPY
by JLaing
GBPJPY weekly bias British pound to the Japanese yen is currently sandwiched in between an area of supply in an area of demand. The area of demand is the larger of the two POI's But both have an effect on the market... Coming into this week, you can see we have two large areas of liquidity, one below and one above. I believe the larger time frame is looking to go bearish. With this in mind, I would like to see a pullback to fill the fair value gap above as well as tap into the area of supply you can see highlighted. As shown on the smaller time frame perspective, we have an area of supply and an area of demand sitting above and below the price which could affect the direction it moves in short term, My preferred move for this would be a short-term sweep of the lows with a longer term pullback to fill the fair value gap above. But as always, we will watch this in a smaller time frame to see which direction it truly wants to travel in. I will be looking for a long to a short idea on this. Based on what we see in the first couple of sessions. At present, our main breaks are structured to the downside, hence why I would prefer to see a longer-term down move.
by rosshayes
GBPUSD possible downside movesAs shown in our Australian to U.S. dollar markup, we were in a pretty similar situation with the British pound to the US dollar. The only big difference with this pair is that we haven't broken any significant structures to the downside yet. I'd like to see the structure broken to the downside or liquidity to be taken from above before a new structural low is made. my overall bias is bearish for this pair but seeing the heavy amount of liquidity sitting above with equal highs on the four hour time frame and daily time frame, leads me to believe there could be some more upside potential for this. As well as no confirmation is given to the downside yet due to no break of structure, we have to keep an open mind for this pair. Overall I would like to see short movements and we will be monitoring the smaller timeframes for possible entries lower, but at the same time, we won't be making any rash decisions and getting caught in any traps. As mentioned in our AUD markup, we have the CPI coming this week. So we may see some significant shifts whether it be to the upside or the downside.
by rosshayes
AUDUSD bias 12th febAs shown in our markup, we've tapped into a supply on the daily time frame. After tapping into this supply, we've broken the structure to the downside on a four-hour basis. This leads me to believe that coming this week we may see further downside for the Australian to U.S. dollar. We have the CPI news this week, as well as a couple of other news events, These could be the catalyst to push this pair further to the downside. We will be looking on a smaller time frame for possible entries lower... As always, we will monitor this to see if any entries are given, but as an overall bias we are expecting bearish movements for this pair.
Short
by rosshayes