Signals 19.05.2020
Hey guys, today we’ll be looking at the top seven ideas for the next market session.
Let us kick off with EURUSD. It’s looking very bullish. If we take a gander from a higher timeframe, we can see an important resistance level around 1.10
So let’s drop back down to h1, if the price goes into that level, that’s going to be our entry point
My first target is going to be the zone at around 1.09400, and the second at 1.09000
Next is GBPUSD, let’s begin with h4, we have an important support level at 1.2200 and an important resistance level around 1.2600
Right now, we can see a false breakout of the support level, which is a very bullish signal, so I wouldn’t be surprised if the price pulled back to 1.22000, and that’s going to be our entry point.
My first target’s going to be around 1.24500 and the second at about 1.240000, there’s about a 30% chance that if the price breaks 1.22000 and holds there, we’ll find an entry point to sell, our first target being around 1.20800, but if that happens, the price will probably refresh the low point at 1.20800 and keep going down for a bit, so the second target will wander somewhere below that.
Next is USDCAD, the price is also at an important support level at 1.38500, here’s how it looks on h4.
There’s also a dynamic resistance level going, which in itself is a pretty bearish signal. If we go to H1, we see that the price is at an important impulsive zone
If the price forms a false breakout, that’s going to be a very bullish signal, as well as our entry point, with my first target being around 1.40200
Next up is AUSUSD – it’s also looking Bullish right now. If we go to D1, we can see important support and resistance levels around 0.64000 and 0.65600. Right now, the price is at the resistance level. I expect a false breakout.
If the price does form a breakout, that’s going to be my entry point for a short, with targets at 0.65200 and 0.64700
Moving on, we have Gold. Honestly, I’m very bullish with gold recently – long term, midterm – I am very bullish, because all the central bank are printing money like crazy, which warrants price growth. The price has been in a consolidation for about a month, and then broke it with an impulse.
A consolidation, in terms of supply/demand, means to us that there was a balance between buyers and sellers, and an impulsive breakout means an imbalance, in this case into the bullish side. Right now, the price is testing the resistance level, and if the price holds above it for a bit, that’s going to be a very bullish signal
And the price will likely keep going up, and will also be our entry point and my first target will be around 1764. There’s also like a 30-40% chance that goes below the level and holds there, it will go down and that will be our entry, with the first target being 1712
Now we have oil, and there looks to be a pretty high probability of a correction. On h1, we can see a support level around 31.50
And if the price breaks this level, and then pulls back, that’s going to be my entry point for a sell. My first goal will be around 30 contract and 2nd will be around 28 per contract
Lastly, we have S&P 500. If we look at it on H4, we can see that the price is in a very important resistance level
While if we go a bit lower, to H1 we see that the price formed a false breakout, which means that if the price hold below the level, we’re going to sell. FYI, holding below a level means that at least three H1 candles opened and closed below the level. With that my first goal will be 2890 and the second around 2860.
That’s all for now. Best of luck in trading and thank you very much for reading.
Hey guys, today we’ll be looking at the top seven ideas for the next market session.
Let us kick off with EURUSD. It’s looking very bullish. If we take a gander from a higher timeframe, we can see an important resistance level around 1.10
So let’s drop back down to h1, if the price goes into that level, that’s going to be our entry point
My first target is going to be the zone at around 1.09400, and the second at 1.09000
Right now, we can see a false breakout of the support level, which is a very bullish signal, so I wouldn’t be surprised if the price pulled back to 1.22000, and that’s going to be our entry point.
My first target’s going to be around 1.24500 and the second at about 1.240000, there’s about a 30% chance that if the price breaks 1.22000 and holds there, we’ll find an entry point to sell, our first target being around 1.20800, but if that happens, the price will probably refresh the low point at 1.20800 and keep going down for a bit, so the second target will wander somewhere below that.
There’s also a dynamic resistance level going, which in itself is a pretty bearish signal. If we go to H1, we see that the price is at an important impulsive zone
If the price forms a false breakout, that’s going to be a very bullish signal, as well as our entry point, with my first target being around 1.40200
If the price does form a breakout, that’s going to be my entry point for a short, with targets at 0.65200 and 0.64700
A consolidation, in terms of supply/demand, means to us that there was a balance between buyers and sellers, and an impulsive breakout means an imbalance, in this case into the bullish side. Right now, the price is testing the resistance level, and if the price holds above it for a bit, that’s going to be a very bullish signal
And the price will likely keep going up, and will also be our entry point and my first target will be around 1764. There’s also like a 30-40% chance that goes below the level and holds there, it will go down and that will be our entry, with the first target being 1712
And if the price breaks this level, and then pulls back, that’s going to be my entry point for a sell. My first goal will be around 30 contract and 2nd will be around 28 per contract
While if we go a bit lower, to H1 we see that the price formed a false breakout, which means that if the price hold below the level, we’re going to sell. FYI, holding below a level means that at least three H1 candles opened and closed below the level. With that my first goal will be 2890 and the second around 2860.
That’s all for now. Best of luck in trading and thank you very much for reading.