We prefer the dollar index on the short side. The sell zone in red and demand zone in green act like magnets.
If we get a pop in DXY inside our first sell zone it will be an absolute gift in our opinion to go and fade it.
Long term target is the demand zone in green.
Will monitor this as we go.
USDJPY approaching our 1st sell zone where we would enter our first short. In our view, the zone may not be as powerful hence we would not hold that trade for far too long.
Next sell zone is way up high.
Will monitor this as we approach the first sell zone.
All sell zones are marked in Red.
Short Idea for BankNifty.
We are coming out a fairly decent demand zone and approaching a minor sell zone marked in Red. - First short plan
A bigger and better Sell zone awaits (in Red) way up. - Second Short plan.
Will analyze this as we go.
XAUUSD has broken our key level of $1528-$1532.
A close above $1535 is a bullish signal and may lead to fresh high.
In the Asian session Gold clocked a high of $1555~ immediate sell zone occurs above that level however, it may not offer a good risk reward at this point. We continue to monitor as it goes ahead.
A close below $1535 and near $1528 may signal a...
