OANDA:XAUUSD decreased and recovered after the US announced retail sales figures for August. This is the last important US macroeconomic data released before the Fed's decision today (Wednesday). Gold price touched 2,560 USD in yesterday's trading session. As of the time of writing, spot gold is at 2,573 USD/ounce. Data from the US Census Bureau showed US...
Here is my latest structure analysis and important key levels to pay close attention to on WTI Crude Oil. Vertical Structures Vertical Resistance 1: Falling Trend Line Horizontal Structures Resistance 1: 71.46 - 71.90 area Resistance 2: 73.80 - 74.30 area Resistance 3: 76.00 - 77.60 area Resistance 4: 79.60 - 80.16 area Support 1: 63.80 - 65.70...
"Perseverance is not a long race; it is many short races one after the other." — Walter Elliot I predict will be heading back to the support level where market makers left sellers looking very sad. (19415 area) If you were looking at Bookmap which I am not 9 times out of 10 it would show there are orders waiting in at area. They have to drop price and come...
OANDA:XAUUSD there are many fluctuations but still maintain the main uptrend, on this trading day the market will receive US retail sales data, this data will have a certain influence on the decision of the Federal Reserve (FED) this week. Today (Tuesday), the US Census Bureau will release retail sales data for August. Economists expect US retail sales to fall...
"Your income is directly related to your philosophy, not the economy." — Jim Rohn This emphasizes the importance of mindset and attitude in achieving financial success. We have orders sitting at the the top, you probably could see them if you were using book map so I would buy and set a trailing stop loss as price rises up VWAP will help us enter and exit...
Good Evening and I hope you are well. tl;dr Gold - Bull trap above the bull wedge as I wrote. Bears confirmed it with the close today. I look for shorts tomorrow and expect 2560 or lower to be hit tomorrow. Anything below 2540 would be a huge surprise and we could see an acceleration down to 2500. If bulls reverse this and trade back above 2610, bears will most...
Good Evening and I hope you are well. sp500 e-mini futures comment : Look at the daily chart and then you can’t be anything but neutral after yesterday and today. Consecutive doji bars with huge tails above and minor tails below. I don’t care about the new ath on the cash index since I trade the chart in front of me and that’s where the ath was in July and due...
Good Evening and I hope you are well. tl;dr Oil - Strong second leg up (daily tf) and bulls even tried to break above the bear flag but for now I doubt the breakout will be succesful. We are right in the middle of the broad bear channel and odds are 50/50 for either side. Above 72 odds rise for the bulls and below 69.5 I favor the bears again. comment: In...
Good Evening and I hope you are well. tl;dr Indexes - Many new highs but also a deep pullback and we closed around the middle of the daily range. Are we smarter than yesterday? We know that bulls remain in control since we are trading above most higher tf ema but bears also sold off for 1% today on the sp500. I keep my neutral stance and wait for the FOMC...
Good Evening and I hope you are well. tl;dr Since today was a very slow day, my weekly update is more interesting than today’s daily update (in case you haven’t read it). Indexes - Disappointment for the bulls was my assumption for today and that we got. Boring sideways movement in tight trading ranges. DJI was the only market with strength, printing a new...
West Texas Intermediate TVC:USOIL opened down to 68.94 USD/barrel as of the time this article was completed. The Paris-based International Energy Agency (IEA) warned last Thursday that global crude oil demand is cooling while output outside the Organization of the Petroleum Exporting Countries and its allies ( OPEC+) continues to increase. According to IEA...
End of last trading week, OANDA:XAUUSD Spots hit a new all-time record high, building on the strength and momentum received from Thursday, as the market bullishly priced in the possibility of a sharp interest rate cut by the Federal Reserve this week. . Gold prices have surged this year, driven by the Federal Reserve's loose monetary policy, central bank...
Good Evening and I hope you are well. tl;dr sp500: Neutral. Big triangle on the daily chart and we are 40 points below the previous big resistance. Resistance is just that until clearly broken. Sideways movement between 5400 - 5670 is more likely than a new ath above 5721. If bulls break above 5670, a new ath becomes more likely and bellow 5550 I think the...
Short Bitcoin per trendline: Entry - 60,200 to 60,500 Stop Loss - 61,200 Targets: 1) 46,000 2) 39,500 3) 35,000 Clear trendline breakdown with respected areas circled in red! When in doubt zoom out! Happy trading
This week, OANDA:XAUUSD increased quite sharply, from 2,485 USD/oz to 2,585 USD/oz and closed at 2,579 USD/oz. The reason international gold prices increased sharply this week is because the market expects the FED to strongly cut interest rates at its meeting next week, with a cut of up to 50 percentage points. However, considering economic data and the...
Was away and have not posted here in some time. Was away and had a few things neded to take care of. Please see profile for more info on that. Will consolidate everything we have said on #Bitcoin over last few days. CRYPTOCAP:BTC was worth a shot early this week or late last week. We bought overnight Sun - Mon. Mid 60's is likely around the corner. Don't see...
Looking forward to place a limit order on NAS100. Potential trade would be 3R plus, risking 0.5% of the equity. Limit order will be placed according to the market condition at around ·3:30 -4:00 Pm (UTC +2, timezone)
While many switch to a bullish bias for CME_MINI:NQ1! because of expectations of a interest rate cut on 18th of September, I remain bearish because markets price in before these events and the rate cut was expected for a long time. We see on the daily chart a double bottom, which is market makers' favorite liquidity to take out. Again on the daily chart, we...