XAUUSD provided us with classic manipulation, we saw a break of the descending channel and structure luring buyers to get involved, as soon as the trap was set we saw a huge plummet in price wiping out retail. We are now trading within the descending channel again, this could suggest further downside now that banks have gathered liquidity.
I would think the majority of retail will now be expecting buying continuation after seeing this 4-hour structure break and re-test. Personally, I am more inclined on selling pressure down into the key level marked. This will wipe out the majority of retail SL's before flying to the upside. My current bias is bearish but I am happy to flip biases if we see a close...
My bias going into next week is bearish for this pair but this can flip at any point depending on the price action we see. Sellers have been trapped twice now as shown, banks may now have enough liquidity to create a strong move to the downside, similar to my GBPUSD analysis. I will be patient with this pair and allow the structure to shift before I get involved....
GBPUSD has bounced from the lower level of the ascending parallel channel, the majority of retail will now be loading up there longs, especially after crossing the key structure marked. Personally, I believe we could potentially see a structure shift like the one marked with a strong push to the downside after the re-test. If this doesn't happen then i will just...
DXY is creating a supportive level but knowing how manipulative the dollar is, this could simply be a tease to trap buyers. Personally, I think the price will begin to push to the upside to lure more buyers in before reversing at the 62% fibonacci and dumping to the downside. My first bearish target will be the extension marked, my second target will be the key...
I expect a final push into the key level marked before we see any signs of a sell off. This is a good area to place a buy limit because it is an order block region and the SL is protected by the ascending trendline. Sentiment Data - 66% Long COT Data - 64% Long
A follow up post to related idea I shared below, me and the team got in at the manipulation and are now flying to the upside. Fingers crossed we manage to break this key structural level and can shoot off like a rocket, I will keep you updated.
Although price does look like it is breaking the bearish flag formation it has created, I would be extremely wary of a strong approaching supportive level coming up, price could very easily reverse from this point. What I will be waiting to see is a clear break of the supportive level marked followed by a re-test and rejection before entering a sell position. COT...
Im very indecisive with XAUUSD, It is always highly manipulated and doesn't want to seem to follow structure or trends like the majority of FX pairs. From a retail technical stand point I would say that price is comfortably downtrending, what I would like to see is a pullback into the key level of structure marked, followed by signs of rejection before getting...
The last 15M candle closure indicates some buying pressure after the structural shift but then again this could just be end of week market manipulation. We are more than likely to see the price come down to test the strong supportive level and gain liquidity before we see a strong upside move but then again price could fly to the upside from the current area it...
Price is traveling within an ascending channel, I would only be looking for buys from here because selling from here is very limited and we have areas where price can reverse such as the trendline and order block. Let's extend this 'bear flag' for as long as we can hahahah. COT Data - 54% Short
I and the Alkaline team got involved in an early buy position on this pair which has been extremely rewarding. I will be looking for a second buy position into the significant structure marked if we manage to see rejections from the horizontal ray, let's see how price develops on Monday. Have a great trading week everyone! COT Data - 50/50
We may have missed the ideal entry point on this one so we shouldn't really go around chasing tails. If the price comes up slightly I will consider placing a sell limit in attempts of getting a wick entry from the lower time frame order block. We will have to see how the price develops on Monday, wishing you all a great trading week! COT Data - 70% Long
We may be a little late to the party on this one but I may consider placing a sell limit from the lower time frame order block I have found. What you witnessed was clear manipulation, firstly we saw price drive to the upside gathering liquidity from the resistance sellers, only to convince retail that price was proceeding to the upside, a strong manipulation wick...
Want a second push into the order block to trigger my buy limit, then fingers crossed we can look for buying pressure. COT Data - 64% Long IG Client Sentiment - 64% Long
I would be nice to attempt to get a wick entry from key previous structure down to the next key zone marked. Let's see if we get a significant pullback followed by rejections before we consider a sell.
Let's fly and smash out these horrible markets.