Description:
An analysis for the week ahead.
Points of Interest:
Balance Area; Acceptance Below Composite HVN; Numerous Tests Of LVN.
Technical:
Broad-market equity indices ended the week lower with the S&P 500 correcting to $3,280.
Recapping last week’s action, alongside progress in COVID-19 vaccine development, on Monday, participants rejected the prior...
Hi, friends.
Our last forecast was true again.
At the moment, almost all coins are sluggish.
The dominance of bitcoin has already reached 53% and it is not very good for all the crypto-currency market.
But, despite this trading opportunities are still exist.
Regarding the situation on XRP, we have 2 balances:
- First balance (#1 on the chart) is more important...
Long-term fundamental is bearish. US has big soybeans stocks, export is falling. Harvest in Brazil and potentially big crop in South America adds bearish sentiment. Weekly chart shows rejection of VAH, price moves down inside balance, so I'm waiting the continuation of price falling.
Ok let's try this again.. Now short on this pair because of the Balance Area Breakdown.
Hopefully I wont get whipsawed again :)
Targets are down around the 1.58 even level.. Watch out for support around 1.5840 due to the "flash crash" lows.
Best of Luck!
EURUSD is in a descending channel going into a Major Support Level on the Daily Time Frame.
We went into a nice consoldiation pattern yesterday and are now breaking out of it.
I'm now short on it and looking to capture a move down to the 1.0942's
Best of Luck
Just got long @ Market on GBPAUD.
It has created a small balance area on the 60min over the past couple trading sessions. We just saw a break and close out of that balance area.
Best of Luck!
AUDUSD is at a Major inflection point in the Market. We are currently at a Daily Trendline and at Major Resistance. Right now the market is coiling up at Resistance. Now, it could be coiling up for an upside move through Resistance or may be coiling for a downside move to stay in it's current trading range on the Daily. We don't know. However, with all that said,...
AUDUSD has pushed back down into a High Time Frame Support. Since then it has a created a Balance Area inside the support zone.
I got long this evening on the pair around the .7500 handle.
Its not often I will shoot for really extended targets but I think I have a good shot here being at a HTF Support Zone. The key is not getting stopped out before or IF the...
I just got long on EURUSD.
It just broke out of its recent balance area on the 60min. I'm expecting a retest of the recent highs.
Stops are 1 ATR below the Breakout Candle
Targets are measured by the height of the Balance Area + Structure
GBPUSD has been in a consolidation period for a few days now on the 60min.
It broke out of the Balance Area this morning and now I'm looking for a retest so I can get at least a 1:1 R:R on the trade.
The strong sell off over the last couple of days indicates a possible change in order flow and that the sellers are coming in with more force. If they are able to maintain control, a possible scenario is a pullback into the 0.9950-0.9980 area and continued selling towards 0.9910 and 0.9840.
$JCP seems to have reached a long term balance area on the weekly. If we see a move to the upside, rough fibs are plotted.
The question remains... will JCP bounce back, or go bankrupt?
Silver has been inside a corrective structure since the beginning of July. I suspect buyers to come in around 19.50. First target area would be around 20.50-20.60. As long as 19.50 provides support my bias remains bullish.
Strong buying followed by a balancing zone indicates that this correction most likely will be followed by another bullish move towards 1.4540 primarily and if that level/zone folds, 1.4600 would be up next.
Tight corrective structure after strong sell off indicating the sellers are still in control and pushing against the buyers. Even though price is overextended on the higher time frame, most likely we'll see another push down before we get a bigger retracement/correction.
Every time the S&P has made a Balance area at it's all time highs it has sold off hard.
We just broke the most recent balance area to the downside again.. Looking for a bear run for quite some time. I fully expect market to revisit 1850's again, just given previous patterns.
Best of Luck
