AUDUSD into a supple zone as marked. We have initiated short and stops as seen above.
Divergence on AUDUSD ( bearish) and on DXY (Bullish) may lead to dollar buying.
Since last couple of months Aussie is following the S&P 500.
IF S&P breaks higher, Aussie may break higher as well. Trade with caution.
As mentioned in an earlier post on GBPUSD short plan, the price made a V return to our first sell zone yes we cancelled the short trade, and now we are approaching our second sell zone and we will initiate short there.
If you guys have seen our recent analysis on gold you know that we have been shorting it all the way from the 1540s. Due to the recent US-CHINA negotiation optimism + a surprisingly better employment data earlier today, we have seen a sell-off in PMs and Yen.
In our opinion, there are some good stops at and below the 1520s and we may see a run down near 1500....
As mentioned above in the chart, the price action has made a V-shaped return to the supply zone marked in red.
In such a scenario we refrain from selling in that zone.
Further, there is another, better, supply zone just above on the 4h time frame.
If the price reaches to the mentioned zone then we initiate a short on this pair with a stop loss just above the...
GBPUSD just had a nice splashdown and have given us a small supply zone to start looking for shorts.
If the price actions approaches the supply zone in V shape i.e heavy momentum then we will have to be careful in shorting at the zone.
A bigger and better supply zone is high up to look for bigger entry.
If you have followed our previous plan to scalp gold on the short side you would have closed your trade from 1542 at 1530.
We traded off the supply zone that is marked in blue.
However, now we have tested the zone for the third time.
Generally speaking, the more price tests supply/demand zone the weaker the zone gets.
If this holds true today then we may...
We are initiating EURJPY long at current levels.
We have hit a demand zone on daily (marked in green). Stops just below the base of the zone.
Ideally, we would like to let it run till then Supply zone marked in red.
However, we will recalibrate our exit strategy as we go.
USDCAD approaching our demand zone on 4h.
In our experience Supply and Demand zone act like magnets.
Price has tested the supply zone and now we are on our way to the demand zone. We initiate long there with stops just below the zone.
We prefer the dollar index on the short side. The sell zone in red and demand zone in green act like magnets.
If we get a pop in DXY inside our first sell zone it will be an absolute gift in our opinion to go and fade it.
Long term target is the demand zone in green.
Will monitor this as we go.
USDJPY approaching our 1st sell zone where we would enter our first short. In our view, the zone may not be as powerful hence we would not hold that trade for far too long.
Next sell zone is way up high.
Will monitor this as we approach the first sell zone.
All sell zones are marked in Red.
Short Plan for Silver.
We have had a big run-up and are approaching a key confluence of sell zones.
Idea is to go short on the touch of sell zone marked in Dark blue on 4h inside a bigger sell zone red from weekly.
Short Idea for BankNifty.
We are coming out a fairly decent demand zone and approaching a minor sell zone marked in Red. - First short plan
A bigger and better Sell zone awaits (in Red) way up. - Second Short plan.
Will analyze this as we go.