Signals For 21/05/2020

Signals 21/05/2020

Hey guys, me again, I want to my top seven ideas for the next trading session with you.
But first let’s see how our last signals faired

First, EURUSD, I told you to long it, and the price hit our first target

Next is GBPUSD, I mentioned 2 scenarios, either the price breaks the consolidation upwards with an impulse, with an entry scenario forming a bit after that, or the price forming a false breakout downwards, and the return would be our entry. As you can see, the second scenario formed.

If we look on H4, the price, by doing that, makes a pullback to the support zone, so that kid of doubles down on the idea of an entry

You first target will be around 1.2285 and the second around 1.2330

USDCAD – I recommended you short yesterday, as you can see, the price hit our first target around 1.3860


AUDUSD – I recommended you long this instrument yesterday, because he price broke out of the consolidation, pulled back and that should have been your entry. Unfortunately, the price didn’t quite hit our TP, so this one didn’t work out so great.


Next is gold, Yesterday’s deal was a buy, but regrettably the price took a downturn, but if I’m honest, there was no entry point yesterday – for an entry, we’d need an impulse up out of the consolidation, pullback, fractal, and then we could enter. As you can see, the price never did get around to that.


Oil – Unfortunately, oil is still going up, so our previous idea did not work out, but there was no entry point yesterday, so it shouldn’t matter if you’re verifying before entering.


S&P 500 – my idea was that if the price breaks the consolidation with an impulse up, pulls back and fractals – that an entry. The price went down a bit, but relax, the idea is still in motion, use the second pullback as a chance to top up if the opportunity presents itself.

That’s it for yesterday, lest move on to today’s signals.

Let’s start with EURUSD. Like yesterday and the day before, looks pretty bullish. The price formed a false breakout with a volume spike – very bullish. Is the price holds above 1.096, we can open a long position with our first target being 1.10. If the price holds below 1.095, we can expect that the price will fall till 1.092


Next is GBPUSD, it’s also looking bullish, my second scenario for yesterday formed –a false breakout with a volume spike, which is rather bullish. If the price holds above 1.2220, that’s an entry, with the first target being around 1.2285, and the second around 1.2320.


USDCAD – I’d say today is more middle term, look at h4 to understand the bigger picture, which says there’s an important support level around 1/3850 and in h1 and important impulse around 1.39 and there’s a false breakout. You can also see some sort of dynamic resistance around 1.3940 and if the price breaks it and holds above – that an entry with the goal being 1.40 and 1.41.


Next is Aussie, it’s pretty difficult to give you a concrete direction here, because the price is still in an important level. If the price holds above – that’s a bullish scenario, if below, that’s a short


Gold – as I said previously, I’m bullish with it. The price has tested a level twice now. I except there’ll be a false breakout followed by a long entry scenario, the goals being 1752 and 1764.


Now we have oil. It’s staying near an important resistance level. I’d expect two scenarios – either the price forms a fractal and then goes down, or breaks out, goes back, forming another short scenario and the waddles down. Either way my first goal is around 28/contract.


Lastly – S&P 500, I’m still bullish here, the price is in a level right now at 2950, if the price goes up and holds above the level, then I’m entering a long, with my goal being around 3000, if it holds below the level, that’s a short scenario, my first goal being around 2910 and the second around 2870


That’s about it. Thanks for reading and best of luck in trading.