EURJPY - Continuation likelyWe are quite overextended here on EJ. However, I would love to see a final push into the supply area as marked on the chart before considering short oppurtunities.
I am not dismissing potential shorts intraday, but for me personally, I am long until we see a return to this key area.
Liquidity is king.
Best wishes,
Jake
Forexeducation
EURUSD - Longing opportunity intraday Lovely move down into the hourly imbalance today on EU.
This provided perfect conditions to enter longs on the 3 min chart, targeting the liquidity resting above the equal highs as shown on the chart.
Messy charts are not always a bad thing! Assess the noise, take what you can from the market and exit at a logical area where we are likely to see a reversal in the other direction.
Best wishes,
Jake
USOIL OUTLOOK (27th - 31st March)With central banks having to promise they would deal with the liquidity crisis that is apparently everywhere and avoid another 2008-style meltdown of the industry.
Crude oil prices came off their lows as the near-term outlook for the banking sector improved, easing concerns about an economic slowdown later in the year.
Markets are also holding out for more cues from an OPEC+ meeting next month, with hopes that the cartel will cut production in response to a recent tumble in prices.
Oil has failed to break supply at 70.11 for the past three days which price is likely suggesting the efforts to convince the public that all will be well are not exactly being successful.
If price fails to break and close above 70.11-70.34 range I see selling opportunity towards major support at 66.85 if broken would see price tap into demand at 66.33-64.31 range where there could be possible reversal or a continuation.
EURUSD Testing Trendline and median zoneIf you've seen my last video on the EUR/USD, I was looking at 2 trendline levels to potentially take a trade from. The EUR/USD has popped to that upper trendline and Median level to find some resistance. A short limit order was initiated at 1.0788 and will hold this for the time being.
The Cautious side of this trade is that the market still has a gap that it may still want to fill up over 1.0800 so that will be watched going into the final day of the week. Stop losses are set and will wait to see if the market respects that resistance zone or pushes back above 1.0800.
Always manage risk.
This is my ideal entry model for XAUUSDGood afternoon gold gang! hope you're having a good weekend.
I thought id share with you my favourite entry set up for gold which is proven to be over 80 percent accurate according to my data.
Im looking for a strong close outside a major level .. by strong i meant 30 pips there abouts .. then the candle to close .. the next candle to wick down to retest the level .. then enter on the break of the previous candles high.
Its as simple as that! .. there are other things involved but ill go through them with you in time, so make sure to follow along!!
Ill be back this evening with an outlook for tonights asian and tomorrows london and ny sessions
Tommy
DXY 15th Dec 2022 short setup updateOne of the things I've realized in the years I've used this strategy is that price will 98%+ of the time respect my entry zones even though go in my speculated direction. When you see that happen it means that such zones are special and are also known to the market makers. Price has been consolidating at the supply zone I identified yesterday on DXY but it's not showing impressive bearish momentum so I'll leave the decision with you. That is to either close or keep holding. I also want to thank you all for following me and helping me increase my reputation on TV.
My thoughts on DXY 15th Dec 2022There's quite some bearish momentum on DXY and although FOMC issued hawkish statements to try and jawbone the dollar into strengthening it's most likely that the USD will continue bearish though not in the long term. Price action in my perspective agrees with a bearish dollar
5 factors to consider before doing an entryLosing is part of the game and the earlier you accept it the better it'll be for you. However, you shouldn't just lose. You should try and become as profitable as possible and all your losses should be clearly calculated and expected but not hoped for. That way the loss will not weigh down on you and affect you psychologically.
Gold 3H sell update (posted on 5th Dec 2022)We had this 3H gold sell setup on 5th Dec 2022 that had failed to activate because price was in a rush downwards. So last week the setup activated although it rallied a bit higher than my expected entry to take sell orders at around 1805.80. However, the stop loss wasn't hit and the trade is still active. Let's see how it goes. ALWAYS APPLY PROPER RISK MANAGEMENT.
Last week's US100 buy entry updateUS100 once again dipped into the 4H order block at 11504 this week from which I anticipated demand to kick in following the previous setup last week. I anticipate DXY to drop further and that's why I think US100 might rally at least to fill a volume imbalance above last week's highs. Let's see how it plays out
Last week's DXY sell entry updateIf you've been following my setups then you probably saw this DXY setup that was most likely to sell off from a break of structure supply zone. However, since it didn't further break structure last week, it rallied a bit to run last week's short term highs. Let's wait and see how much lower price action will drop. Though with how price action is playing out, it may not drop as much and might only get to the 4H order block at 104.25
DXY 2H POSSIBLE SELLDXY has a strong bearish momentum and has already broken structure on the hourly timeframes. I therefore' think that it'll drop further to take run the short term lows created this week and possibly to also run an old week's low. R:R = 2.5. THIS SETUP DOESN'T GUARANTEE PRICE MOVEMENT. APPLY PROPER RISK MANAGEMENT
US1OO 15MIN POTENTIAL BUY UPDATECandlesticks are price messengers and tell us a lot about price. A look at the previous 4H candle shows impulse but it was also unable to break structure hence it'll most likely seek a deeper discount before potentially rallying for the void and imbalance above
US100 M15 POTENTIAL BUYIf price decides to clear those short term highs, it might inject bearish orders which could retrace downwards to mitigate at the bullish OB where I'll be willing to take my chances up to the end of the void and bearish OB above because I already have bullish impulse and BMS
US100 UPDATEThis setup would have worked quite fine but price decided to target last week's lows for liquidity runs. I hadn't anticipated that since I expected those lows to be run during a news event. However, I had warned that the setup had quite a high risk attached to it.