Gold had a nice push to the upside today, breaking structure and continuing it’s bullish trend on the 4H. With that, tomorrow is a big news day and I have a feeling FOMC tomorrow will provide even more volume than normal. I’d be looking for a pullback into this zone before a continued move to the upside (TPs are the white lines that you see)
Prime example of why trading countertrend can get messy. Took a short yesterday and got stopped by 3 pips (it happens). However, we’re now seeing US30 respecting a weekly imbalance and also shifting structure to the upside on the 4H. I’ll be looking for a pullback early next week before positioning for longs assuming this structure holds.
Gold managed to play out as we hoped and is now pushing to the upside. With a change of structure + that change coming from a daily demand zone, I’ll probably hold this trade into the weekend. US30 update coming soon.
Gold continued to sell off today on USD GDP and Jobless Claims beat (despite Durable Goods missing forecasts by over 6% which is a huge miss.) With that, Gold sits in a Daily demand zone and as I see here, it appears that Gold is looking to transition to the upside and provide a nice move for tonight/tomorrow. I also noticed that the 4H had a slight pullback in...
I've officially entered in on US30 shorts. After a big push up, we're approaching a daily demand zone as well as a 4H 50% retracement. 15M structure is still bullish but to be honest, I don't feel like sitting at my computer all day so I entered with a bigger stop. Will post an update good or bad when the move completes.
Gold has been extremely bullish prior to selling off at the end of last week and I don't believe that overarching theme is going to change. USD's numbers have been shaky and Gold is still maintaining an overall bullish trend but I believe we can capitalize on the countertrend movement. I wrote my idea on the chart if you want to understand my idea/interest points.
As equities continue to sell off, I can see this presenting a similar setup to the NAS idea I published earlier. However, the key difference here is that US30 remains very bullish on the higher TFs while Nasdaq is breaking major structure points. With that, I'll be looking to sell at the area seen here and hold until the top of that purple box. (Conversely, I...
Nasdaq appears to have shifted to a bearish structure on both the daily and weekly timeframes. The 4H is very bearish as well, so I’d be looking for a retracement near that white line, (or purple box ideally) before taking short positions. (Side note: I need to start posting the afters of these analyses -_-)
GBPUSD is another one that’s been pushing nicely recently. With that, it looks like a reversal is coming with a structure change on the 4H. We’re currently sitting inside a massive inside bar, so if this candle holds (and if not the IB candle the last high) then I can see this having a massive push to the downside and either A) blowing through that purple zone and...
Nasdaq has been ripping over the last few weeks but it looks like we are starting to see some slowdown. The 4H has shifted bearish and looks like it’s consolidating before a further push down. Additionally, minor structure was broken on the daily last week and with high impact news still coming this week, I wouldn’t be surprised if it pulled back to the purple bix...
With Gold steadily pushing to the upside and breaking ATHs, I’m not looking to catch a top and if the structure holds, I’ll be eyeing the purple area for buys to continue to the upside.
So for GBPUSD, we can start to see a bit of choppiness entering the market after a fairly strong bull run. Now, price seems to be stuck in the middle and whenever I notice that price is caught in the middle of two ranges, I will draw two zones(as you can note here) and wait for price to retrace to one of my marked spots and see a reaction before pulling the...
With all of the uncertainty regarding the recent remarks by boris johnson it seems as though GBP pairs are moving but not nearly as quickly as usually. As of right now, I don't see much on GBPUSD and will remain on the sidelines. With that being said however, I gave a "Hail Mary" prediction which I will be providing a before and after too. Let's see what happens....
If you look at AUDUSD here, it looks incredibly interesting. First, it seems to be forming a double top and showing a lot of rejection off of the trend line and minor resistance. Also, it attempted to break the daily trend and failed just showing me more signs that it wants to continue lower. I am currently in this trade and did so after it broke the 1HR minor...
With NZD showing some good strength after being pummeled the last few weeks, it’s allowed for some good setups to present themselves. This is one of my favorites. A lot of confluences here: 1) 4H exhaustion 2) 4H double top 3) 4H Evening Star 4) Bounce off daily trend 5) failed retest of daily level 6) 4H Hammer If I spot 6 confluences on a trade, you better...
With the Coronavirus fears still reaching new heights, I believe safe havens such as JPY will continue to gain strength. From a technical stance, it seems like we are about to test a key level of support and if broken, could potentially setup for a much larger move later on down the road.