BTC is off to the good start this year! Can it last though? I will spare you the head and shoulders bottom. Let's focus on the sentiment analysis because I think it provides important clues for the potential trend reversal. It is good that BTC broke out of the 6 months downward channel with above average volume on the daily timeframe and also managed to...
Short EUR/GBP @ 0.86100 SL - 0.87850 TP1 - 0.85710 TP2 - 0.85200 The COT reports below are a bit unclear although they show more entities shorting the EUR. ------NON-COMMERCIAL---|---COMMERCIAL -------LONG------SHORT--|---LONG-----SHORT GBP 21,400 94,000 183,500 109,600 EUR 147,000 228,000 265,000 222,400 The...
Sell Limit NZD/CAD @ 0.84150 SL - 0.84700 TP1 - 0.83400 TP2 - 0.83100 TP3 - 0.82700 -Technical and Fundamental Analysis is the same as previous CAD/NZD idea just with different entry, SL and TP's due to the fact my broker arranges the pair this way. Overall same principles and fundamentals, just different numbers.
Huge Recent imbalances in the gold futures market led many to predict that speculators (usually wrong at big turning points) would be forced to out their historically extreme short bets. this has led to a correction since we had reached a monthly time frame demand zone. Will be looking closely to add on short contracts.
Its another short term downtrend before gaining new bullish trend, i prefer short for nextweek