Markets
GBPUSD H1 - Long Trade SetupAggressive selloff fueled by BOE. Other GBP pairs seem like they want to start correction, we have some sort of support zone here on GU, but still very active with bearish markets, interested to see if current price holds as support.
Gold H4 - Long SetupGOLD H4 - Huge dump at the trendline resistance, dumped circa 200 pips down to the next S/R zone, could be a region where we start to gear up for a second attempt to break the descending structure/resistance.
GBPUSD H4 - Short Trade SetupGBPUSD H1 - Another H1 chart here for a GBP pair. If we can push up again to test 1.29 possibly, that could warrant a good rejection to see us back down to the previous low region again and then possibly beyond.
EURJPY H4 - Long Trade SetupEURJPY H4 - Seen a little lift here on EURJPY, bounced from support initially, not sure how much mileage this has, but we need to break that sequence on lower highs shown from between 10th and current date.
EURGBP H1EURGBP M30 - Saw a break and retest of this pennant last week, but this was quite late during the week and markets then closed, and also failed to set new highs beyond the breakout high. I'm neither bullish or bearish on this until we hear more from the vote later on today. This will then set the tone going forward for the GBP markets and to a degree the EUR markets
GBPUSD H4 - Short Trade SetupGBPUSD H4 - Breaking the corrective consolidation from last week (the flag consolidation range). Possibly could see market correction up towards the previous S/R zone. Again big moves expected later off the back of the vote this evening.
Weekly Review: Healthy Correction Needed (Read for Fundamentals)I believe this recent correction in the markets is more of an eventual profit taking event rather than a structural adjustment. The technology sector still offers growth potential in the medium term. It is logic and healthy for the market to correct after such a strong bull run.
Looking forward into the new week:
1.Central bank meetings
No change in interest rates expected, will maintain dovish position.
2.Indicators
In macro terms, indicators will keep recovering.
Lateral week is expected consolidating the levels from previous weeks. In medium term, slightly more bullish position despite big volatility also being expected.
EURJPY H4 - Short Trade SetupEURJPY H4 - Gains seen for the EUR off the back of ECB and Lagardes comments. She's pushing she euro up nicely to break the previous S/R zone at 125.400. Hopefully we find resistance around that 126.650 region.
GBPJPY H4 - Short Trade SetupGBPJPY H4 - As mentioned, the system doesn't change just because the environment has changed. Setting an alert for 138.000, this is a 382 corrective point, whole number, weekly and local support zone, so 4 confluences there. Will see where we are and how we are looking as/if we hit 138.000 for possible shorts.
3 Rising Valleys on USD Currency Index (DXY)Hidden bullish divergence after a 3 rising valley formation and coinciding decade-long critical up-sloping support on the DXY could indicate a major reversal, or alternatively major break to the downside to re-test the all time lows.
EURJPY H1 - Long Trade SetupEURJPY H1 - Really nice technical play here, but yet to find out what's caused that sudden YEN strength, video analysis coming through now.
$USOIL #CrudeOil - Buyer here into $44/$45+ invalid below $42good RRR on this buy
entry @ $43
invalid below $42
$44 / $45 profit scaling levels
Can leave a runner open if you feel comfortable with the long term bias
Personally I believe we can see $50+ by year end
SPX/DRIP Rare Triple Combination Corrective Pattern?(Scroll Down for Better Picture of Wave Count)
SPX and 3x leveraged bear crude DRIP. Does this pattern show smart money exits in Jan '20 and June '20? When the relationship decreases, lean CAUTIOUSLY on equities and crude. Precipitous fall means lay on the Shorts. Despite Markets going higher in February, the relationship still decreased as crude continued to fall despite an equity climb higher ie DRIP rose faster and stronger (sustainably) than the concurrent rise in the SPX. Then SPX finally capitulated. Fast forward to June 8th: recoveries in the SPX and Crude both took place in the months prior, however since then, the relationship has failed to breach that local high, despite ATH in the SPX printed in August this past week. What is this showing? Crude has lagged and been stagnant, stymieing further advancement in the relationship. The blend reversed off of the trend line of resistance. Will this rejection have follow through? In order for the decrease to accelerate, Crude would actually have to roll over, which might lead the SPX on the downside. The pattern is interesting and looks to fit as long as another fall occurs and avoids a breakage of the June 8th high. The next downturn may produce another low (Y) that rivals or exceeds (W). However, within the count, the Z cannot be lower than the deeper retracement of W or Y. Regardless, that could be a major tradeable LOW Buy point but more choppiness would follow until Z concludes.
GBPCHF H4 - Short SetupGBPCHF H4 - No real market movement from when we posted earlier, few wicks upside and downside but generally still hugging that 2.00 handle, waiting to see if we reject and selloff back to support or break and retest. Not sure how much the GBP has left in the tank, CHF didn't move too much after todays antics either.
USDWTI H4 - Long Trade SetupUSDWTI H4 - Waited long enough, break and retest seen, deleted the previous signal as I had the wrong order details for TP zones, but regardless, seeing a nice initial pullup.
GBPJPY - Short IdeaI have been in and out of this pair for the last few weeks.
I see a short. It's a perfect 2:1 but we all know nothing is perfect in trading.
I have a limit order set to snag the short.
Trade outlined.
Yellow Flag news tomorrow night for JPY...safe to proceed.
CADJPY H4 - Long Trade SetupCADJPY H4 - Been a bit of a slow pair this week. Failed to break much above 80.300 this week, this being the key price (neckline) to break. 80.000 keeps holding as support which is good, so be interesting to see if CAD retail sales spurs on CADJPY upside... Data up in 20 minutes!
GBPAUD H4 - Short SetupGBPAUD H4 - Still trading between the S/R range, approaching resistance at the moment, may want to look for reversals to then trade back down to support. 30 minutes until H4 close. Selling from resistance was calculated at just under 1:3 yesterday, ultimately depends on entries etc.
GBPAUD H4 - Long Trade SetupGBPAUD H4 - Couple of downside support break attempts, but eventually all closed within our support region, trading above 1.82 at the moment, seen an initial bounce, BXY was covered in the video rundown, lots of resistance and previous highs in sight, so will take some sort of catalyst to give GBP the push to break those tops.
EURJPY H4 - Long Trade SetupEURJPY H4 - Little bit late as the technical rundown was being uploaded, but nice support zone marked here, very similar to CADJPY (analysis to follow). YEN was on fire yesterday, so maybe we may see some relief from these support zones.
CADJPY H4 - Long Trade SetupCADJPY H4 - As mentioned, very similar to the S/R on EJ, here is CJ. Currently trading above that 80.00 whole number and above the active S/R zone, if we can hold above and see our typical H1/H4 price action reversals we could see some long opportunity.
