End of Wave 5: Divergence Check: Verify Wave 5's completion with RSI or MACD divergence (price making new highs but indicators not). Look for reversal candlestick patterns like shooting stars or bearish engulfing at the highs. Adding to Position: Corrective Wave: Prepare for a potential corrective wave (ABC pattern or ending diagonal). Use tight stop-losses due...
Nasdaq Trading Update: Current Status: Sell Invalidated: The standard deviation hit for Nasdaq indicates that our sell position has been invalidated, validating our current pullback buy position. Price Action: The internal and external delivery structures, as well as price action, are respecting general rules and demonstrating strong, favorable patterns. The...
Nasdaq Trading Update: Current Analysis: Accumulation Phase: The Nasdaq is currently in Phase C of the accumulation phase. I am considering placing a buy stop order above the Last Point of Support (LPS) in this phase. Wave Structure: It appears that Wave 5 has developed, and the target for Leg 5 has been reached. We are likely seeing the end of a correction,...
XAU/USD Update: Current Stance: I am maintaining a bullish outlook on XAU/USD. The cycle template was updated yesterday, though I faced posting limits on TradingView. Market Structure: Accumulation Phase: The market seems to be at a pivotal point, suggesting that the accumulation phase has been successful. We appear to be on the verge of a new market...
Current Focus: Correction and Internal Impulses: I am monitoring potential corrections within the current market structure, particularly looking for opportunities to buy based on internal impulses. As mentioned last week, the NASDAQ has shifted with MSB arrays, indicating a potential counter-trend scenario. Market Structure and Strategy: Potential Buy...
USOIL Update: Weekend Analysis Revision: The weekend template for USOIL did not perform as anticipated. It appears that we may have just completed the Spring phase of the market cycle. Despite this, our overall bias remains bullish for the time being. Current Strategy: Buy Stops: I have set buy stop orders with half of the usual risk exposure, as indicated in...
AUD/USD Update: Analysis from Weekend: The AUD/USD pair is following our weekend analysis closely. Current fundamental indicators remain supportive, and overall market sentiment is favorable. The accumulation phase is proceeding as anticipated, with price action maintaining stability. Technical Outlook: We are nearing the onset of Wave 1 within the larger Wave 3...
GBP/JPY Update: Weekend Analysis: The GBP/JPY trade has progressed according to our expectations. The impulse moves are aligning perfectly with the anticipated patterns following the accumulation phase. Current Status: We are now in Leg 3 of the current structure. The market has been behaving as predicted, and we are approaching our target levels. Action Plan:...
I have revised my analysis of EUR/GBP and continue to seek buying opportunities. However, the market outlook has shifted, indicating a potential deeper correction to the upside. This adjustment suggests a counter-trend position in a risk-off environment.
Sentiment Update – July 27, 2024 Intra-Day Sentiment: 11% Bearish, 89% Bullish Daily Sentiment: 27% Bearish, 73% Bullish Overall Outlook: Favorable for Buying Upcoming Economic Events and Expected Impact on XAU (Gold): Monday, July 29, 2024, 04:30 PM (US) Dallas Fed Manufacturing Index: Anticipated PMI of 53.00 points. Expect a bullish effect on USD, leading to...
Sentiment Update – July 27, 2024 Intra-Day Sentiment: 31% Bearish, 69% Bullish Daily Sentiment: 23% Bearish, 77% Bullish Overall Outlook: Favorable for Buying Upcoming Economic Events and Expected Impact on NASDAQ (NAS): Monday, July 29, 2024, 04:30 PM (US) Dallas Fed Manufacturing Index: Expected PMI of 53.00 points. A bullish outlook for the USD suggests a...
Sentiment Update – July 27, 2024 Intra-Day Sentiment: 31% Bearish, 69% Bullish Daily Sentiment: 23% Bearish, 77% Bullish Overall Outlook: Favorable for Buying Upcoming Economic Events and Expected Impact on NASDAQ (NAS): Monday, July 29, 2024, 04:30 PM (US) Dallas Fed Manufacturing Index: Expected PMI of 53.00 points. A bullish outlook for the USD suggests a...
Sentiment Update – July 27, 2024 Intra-Day Sentiment: 11% Bearish, 89% Bullish Daily Sentiment: 27% Bearish, 73% Bullish Overall Outlook: Favorable for Buying Upcoming Economic Events and Expected Impact on XAU (Gold): Monday, July 29, 2024, 04:30 PM (US) Dallas Fed Manufacturing Index: Anticipated PMI of 53.00 points. Expect a bullish effect on USD, leading...
Sentiment Analysis – July 27, 2024 Intra-Day Sentiment: 74% Bearish, 26% Bullish Daily Sentiment: 45% Bearish, 55% Bullish Overall Outlook: Favorable for Buying Upcoming Economic Data: Tuesday, July 30, 2024, 10:30 PM (US) API Crude Oil Stock Change: Anticipate a SELL signal for USOIL. Wednesday, July 31, 2024, 04:30 PM (US) EIA Gasoline Stocks Change: Given...
Sentiment Analysis – July 27, 2024 Intra-Day Sentiment: 41% Bearish, 59% Bullish Daily Sentiment: 32% Bearish, 68% Bullish Overall Outlook: Favorable to Buy Economic Calendar and Trade Recommendations Monday, July 29, 2024 04:30 PM (US): Dallas Fed Manufacturing Index Forecast: 53.00 points for the quarter Impact: Bullish for the US Dollar Tuesday, July 30,...
Sentiment Analysis – July 27, 2024 Intra-Day Sentiment: 33% Bearish, 67% Bullish Daily Sentiment: 18% Bearish, 82% Bullish Overall Sentiment: Favorable to Buy Economic Calendar and Trading Recommendations Monday, July 29, 2024 10:30 AM (GB): Mortgage Approvals Forecast: 63.50 Thousand Trade Recommendation: Sell GBPJPY 12:00 PM (GB): CBI Distributive...
Sentiment Analysis (July 27, 2024): Intraday Sentiment: 48% bearish, 52% bullish Daily Sentiment: 81% bearish, 19% bullish Overall Sentiment: The sentiment indicates a stronger bearish bias, suggesting a potential for selling EUR/GBP. Upcoming Economic Events and Trading Recommendations: Monday, July 29, 2024 10:30 AM ET - UK Mortgage Approvals Expectation:...
Sentiment Analysis (July 27, 2024): Intraday Sentiment: 39% bearish, 61% bullish Daily Sentiment: 13% bearish, 87% bullish Overall Sentiment: The sentiment is strongly bullish, suggesting a favorable outlook for buying opportunities. Upcoming Economic Events and Trading Recommendations: Tuesday, July 30, 2024 03:30 AM ET - Australia Building Permits MoM...