AUDUSD just broke its inside week and inside day, good enough to turn bullish;
USDCHF just retraced to its 0.618 and 1.0000 fig demand zone, which are also awesome.
Accordingly, I'll be interesting in taking some AUDCHF long to combine both ideas.
Here we got this 4hr demand zone off the 0.7100 fig.
Quite a good long entry for this idea yo!
Let's see how it goes!
It's rare to have a daily trade less than 30 pips risk!
A demand zone pullback after making new high? why not!
The bearish butterfly implies that a better short spot will be near 1.0200, which means there are still plenty of rooms!
Let's see how it goes yo!
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In my previous analysis on gold, the price indeed has rebounded off from the demand zone around 1292 and climbed highest to 1297.
However, the rebound was too weak and shallow which may cause the price to pull back and retest the low once again.
The price has been consolidating upwards, forming a short-term rising channel which seems to be completed soon.
S&P 500 e-mini futures ES is offering buy opportunities with weekly demand level around $12737 in control. It took two weeks for new weekly demand to be formed after eliminating very badly structured weekly supply around $2820. There is nothing to stop price from rallying to S&P500 e-emini futures upper weekly supply zone around 2907.
No shorts are allowed, only...
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Gold has been on a bearish trend for about two trading weeks.
The price has then broken above a consolidation/range which shows that price may reverse and climb further.
The current retracement is considered slow and weak.
Thus the price is likely to rebound later on when the price completes its retracement at the demand zone around 1292 based on a harmonic...
BTCUSD has two scenarios. Breaking two trendlines would push price to 6000$ (maybe higher), but breaking demand level would reach 2000$.
Wait for either scenarios to happen and then make the trading decision.
Best of luck,
Feel free to follow me for more ideas
The inside week breakout for SPX500 was AWESOME!!
Here we got a inside 4hr for us30.
If it breaks to the upside, it will be a simple trend-following inside bar breakout;
while if it breaks to the downside, I'll be also interesting in the demand zone long!
Let's see how it goes!
Good morning, traders. Stragglers are still FOMOing in on their buys which has buoyed price overnight. While there's always the possibility that price could continue up from here, it still appears most likely that we will get a retracement as discussed yesterday. Price has printed an ascending broadening wedge since yesterday. The target based on this pattern is...