G-money
$SPY Monday Day Trade IdeasOn the left I have a 15m chart and right, 4h chart. Being as though Mondays have usually been rough for the markets and we have Consumer Inflation Expectations for December being announced at 11 AM EST, I'm thinking the markets opening green could be a setup to force some downside momentum. I believe if we can hold under this $389 area that we can retest around $386.50. If we base out around $389, the next leg up is to $391.50.
Also, on the 4h chart the 50 and 200 SMA are both acting as resistance on Friday's closing candle. Because there are two moving averages in the spot, it's something I can't ignore from a bearish perspective. Otherwise, there seems to be a potential gap fill setup back towards the $399-$400 area.
EURCHF LONGEURCHF long (again)! This pair is in a long term uptrend but has recently been sideways ranging in it's channel which has held up for around a month now.
We see that this pair is oversold according to indicators, and is approaching a nice support level within this channel. There is a slight bias to the long trade compared to the short due to the long term trend being bullish, however it is a nice channel all in all!
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AUDCHF SHORTThis pair broke out of it's channel to the downside recently, but has since rallied back into the channel range.
We see currently it has potential to react to this next resistance within the channel, with the indicators suggesting this pair is currently overbought. We will wait for confirmation and then react.
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EURUSD SHORTThis pair has been in an uptrend since the beginning of Q4 2022, recently forming a strong support last month. Entering the new year we have seen a spike down in this pair (as well as many others!) breaking through that support.
Since, it has come up to re-test that support, reacting with a strong bearish candle signaling the short selling could continue...
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AUDCAD LONGThis pair saw a large spike down this morning but has briefly settled at support 1.
On the higher timeframe it has been in a long bullish trend, but as we stand due to the spike down we are now in an oversold zone in a bullish market. The price is settling nicely at a double bottom with a trending support too.
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XAUUSD VIEWS OF NEXT WEEK XAUUSD for gold setup what i forecast is that bears already shown sign of strength , thus for the coming week price may take advantage of the slow week to have a correction before we continue with the down move....
We have not yet come to collect liquidity below @1600 level which is my potential level price might tap before going up now this was a long view which give me strength to short gold