About meMy name's Stanislav (aka Stan), I'm a trader with experience in trading different markets since 2004. I was actively trading options, futures, Forex and other exchange-traded and OTC products. Now I manage my own capital and mentor traders worldwide.
Kirkland Lake Gold is a decent buy opportunity. The company produces gold from mines in Canada and Australia.
It has a correlation with Gold (which will benefit from any rise of volatility) but has strong fundamentals, which keeps it steady when Gold declines.
From my perspective, it can renew historical highs even if Gold consolidates.
A decent buy opportunity.
Gold is setting up for the upside breakout. I consider buying it above the recent sessional high.
It reasonably well held above the 1500 level - a key resistance. Now, the path the 1550 - 1560 is open.
Also, we see this situation in a context or growing SPY and declining VIX. It means that Gold is increasing on the internals, not on the market fear.
But low VIX...
USDJPY has been in a large sell-off following a heavily bearish dynamics of US Stock indexes. Now the bearish auction had possibly finished and it is ready for the rebound. As the market fear starts to decline, USDJPY may sharply soar.
Amarin corporation has experienced a large sell-off recently, but still remains to look quite strong from the big timeframe perspective. Considering a modest positive sentument which drives the market, it may generate a pullback with further testing of 23 area and above.
I expect to see the upside breakout on BTCUSD considering that equilibrium between supply and demand has been extremely stable for the recent month. No surprizingly, it can sharply break out with achieving 10000 and higher.
Placing stop below 5900
Bitcoin loses volatility for already more than 3 weeks. Usually, it might precede a sharp breakout - supposedly to the upside. Profiles show a very prominent area of accumulation, so I would not be surprised if BTCUSD breaks up to the upside very soon. Just bought Bitcoin against US dollar -0.18% with a tight stop.
The ascending move for Gold was too aggressive and too fast. However, there are no reasons to grow for the Gold just yet. VIX is going down, stocks are soaring, so there's no real market fear, which is one of the main drivers for Gold. All these factors may tell us that Gold may be seriously overbought right now with the nice opportunity to go short.
GBPUSD has achieved a level or resistance according to the market structure. There is a little chance of continuation to the upside, so an opportunity to go short is visible. Duration of a trade is short-term (1-2 days)
I assume entering a short position from the LVN area on the profile. A preliminary bullish rally doesn't seem to be strong, so Gold has the odds of renewing its recent low from July 3. Stop is tight here
According to my models, Brent must gravitate towards the strong trend. Pullbacks and shakeouts are likely to be purchased.
A assume entering a long position with a tight stop from the intermediate term low area.
BTCUSD is under pressure and may be preparing for the drop today. It has been in a consolidation area for 3 days, but no presence of a strong buying activity was detected. According to auction principles, it has to dig deeper to attract buyers from the lower levels. A decline which is about to happen may cause further panic sale up to 4000-5000 area.
USDCAD has been consolidating in a narrow area around 1.33 level. Considering previous strong bullish sentiment for the US dollar and weakening oil prices, a descending rally for the Canadian dollar (conversely, ascending rally for USDCAD) may not be over yet. Now, we see a decent trade location on the chart and opportunity with limited risk and extended potential reward.