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#ES Futures Overview and Levels to WatchWe had some selling in our Sunday/Monday Holiday session which got us down to one of our Key Levels at 4272-4265.50. We looked below, came back in and were able to rally back up and get over upper Key Level at 4327.25-4321.50. So what can we see today? Last night Globex was a double distribution, on the downside we have 4327.25-4321.50 as our current PM support, getting below that will be our first sign of weakness and opens the door for 4310-4307.25, 4291.50-4286.75, Key Support at 4272-4265.50 and our Globex Low at 4252.50-4247.50 which if gets taken out can see more downside. The upside scenario, holding above our Key Support levels, leaves the doors open for a test of PM resistance at 4349.50-4345.25, 4362.75-4359.50 and T+2 Low which is right at our next Key Resistance at 4378.50-4374.75, Key resistance and 4392.25-4389.75 needs to be broken for any more upside. Lets see what this week will bring.
CME_MINI:ES1!
by HollowMn
USD/CAD CONTINUES TO TRADE IN THE SHORT-TERM RANGECanada will deliver its MoM new housing price index for January, which currently doesn’t have any forecast available. We know that the index has been somewhat of a decline since May of last year, when the April figure peaked at +1.9%. Last month’s reading was at +0.2%, but the actual number shows up below it, or even in negative territory, CAD might take a slight hit against its major counterparts. Currently, USD/CAD continues to trade inside a short-term range roughly between the 1.2650 and 1.2797 levels, which has been in play from around the end of January. Given that the rate is very close to the upper bound of that formation, there is a chance that a break may follow. Until that break happens, the traders will remain neutral and continue observing the price action. But for the Russia-Ukraine conflict, the US Dollar's fundamental moorings appear to be less supportive. On Friday, the USD/CAD traded higher and closed the day in the positive territory near the price of 1.2750. Yesterday it fell a little, dropping to 1.2720. USD/CAD is still trading above the MA (200) H1 moving average line (1.2710). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the north direction in trading, and while the USD/CAD remains above MA 200 H1, it may be necessary to look for entry points to buy for the formation of a correction. On the upside, a push back above the 1.2790 barriers might attract a few more buyers into the game, who might help lead the rate towards slightly higher areas within the previously discussed range. USD/CAD could then travel to the 1.2816 obstacles, a break of which might set the stage for a move to the 1.2848 level. If eventually, the pair breaks out through the lower side of the aforementioned range, this will confirm a forthcoming lower low, possibly clearing the way to some lower areas. USD/CAD could then drift to the 1.2638 hurdles where a temporary hold-up might occur. However, if the sellers stay in control, they may easily drag the rate further south, aiming for the 1.2601 level or lower to 1.2560. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carry a high-risk level. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and such sites. Furthermore, one understands that the company carries zero influence over transactions, needs, and trading signals. Therefore, it cannot be held liable nor guarantee any profits or losses.
by legacyFXofficial
Still on the same Short scalping hourly S*%$We are not used to publishing so many ideas so frequently but things have been cooking for some time now. So we published a few ideas about how Gold is behaving and what we was going to do about it. Short scalps was the solution to the stalling Long move. The idea is when you start struggling to hit 50, 70 and 80 pips short scalps, you know the long is coming. That long however is due to hit a ceiling and come down from there. For this reason we are sticking to our Overall short Bias and continuously short scalping. Throw in the odd long scalp back to your shorting entry prices and by the time this massive long or Short comes, you probably would have made the same or more on scalps. So far there have been 7 saucy short scalps and 2 ready salted long scalps and the entry prices/ranges remain the same. 1825, 27, 28, 30, 35, 40 , 46-60. Until of course they get broken and closed above comfortably. Not to forget the lowest possible entry price for long scalps is very important as if you are on board a long to your short entry you can reap those profits too. (currently in a long scalp but it may not last that long) Remember Keep the scalps short and sweet and don't be greedy on Gold. Good luck guys! This is not financial advice and should be taken with a pinch of salt
OANDA:XAUUSDShort
by Squeeezy-Trader
ADBE RETEST AGAIN AND BOUNCE BACK FROM STRONG SUPPORTAdobe Systems Incorporated (ADBE) is a large diversified software company that operates worldwide. The company deals in digital media and cloud services that allow customers to access the latest versions of its creative products. The stock had been a big winner over the last couple of years, more than doubling since the start of 2020. However, a recent disappointment in earnings erased the last few months of gains. With earnings estimates starting to fall, investors are now concerned that the bull run might be over. The guidance forced analysts to drop earnings estimates for all time frames. For the next quarter, we have seen just a 1% drop over the last month, falling from $3.37 to $3.34. But the stock bounce back after the false breakout and step again above $550.00 per share and above 50-Fibonacci retracement level drawn from March 2021. The stock gapped lower after EPS and then took out the 200-day MA and continued to lows not seen since June. If the bears want to push this stock lower, they must take that $550 level out and could push to the $450-500 area. If the bulls want to gain some traction back, they need to take the $593.00 and 61.8 Fibonacci retracement level and then fill the gap at $600. Our statistic software notes a bullish pattern with a peak return of 4% in 1 month and a probability of 72%. Until then, the sellers will stick around. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carry a high-risk level. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and such sites. Furthermore, one understands that the company carries zero influence over transactions, needs, and trading signals. Therefore, it cannot be held liable nor guarantee any profits or losses.
NASDAQ:ADBE
by legacyFXofficial