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Futurestrading

Higher upside or Bull trap?Yesterday we spoke about the Dollar weakness and how that will affect the equities markets. As expected due to the strength of a weak dollar 😉 NQ broke the Highs it had stablished on the Hourly timeframe a $15432.00. The one thing we spoke about and speculated we would see today did not become a reality. We were expecting once the highs were breached for price to retrace and possibly target Hourly Lows. We did get a nice retracement to $15342 and an unexpected bounce reaching to take out the newly created Hourly highs. What was I expecting you ask? Well it was a bit ambitious since I wanted to take out the highs and target the lows right away, LOL. But this can happen all depending on the Dollar strength or weakness for that matter. Momentum should carry price at least above $15507 with potential to target 15561 depending on PA (price action) ay considerable rejection at these levels I expect to see price return t $15359. Keep your eyes on the Dollar
CME_MINI:NQ1!Long
by JP_Tru
XAUUSD: Gold touches multi-week high!The XAU/USD daily chart indicates that it is holding onto small gains above a steady 20 Simple Moving Average (SMA), while a stable 100 SMA is positioned around 1,950. Additionally, the technical indicators are gradually rising and putting pressure on their midlines. Although it doesn't seem likely for another upward movement, it does reduce the chances of a decline in the near future. In the 4-hour chart, technical analysis shows that XAU/USD encountered selling pressure when it approached the bearish 200 Simple Moving Average (SMA), but it remains above the shorter moving averages. The 20 SMA is below the bearish 100 SMA, indicating that buyers are not particularly strong. Furthermore, the technical indicators are retreating from overbought levels, but they still remain in positive territory, suggesting that a significant decline is not imminent. Support levels: 1,924.35 1,910.05 1,898.10 Resistance levels: 1,945.20 1,958.75 1,967.90
FX:XAUUSDLong
by Sphyn-Trader
4
Grabbing the best possible trade on NQ1!Obviously, going short at every supply zone or going long at every demand zone doesn't work every time. If it did trading would be too easy and no one would lose. So, how do we trap the losers and become the winners? Wait for a liquidity sweep above, most often indicated by a bearish shooting start candlestick with a close back below the supply zone. Previous shorts will be stopped out and new longs will be trapped. That's the best possible time to enter short and ride the reversal back down here on CME_MINI:NQ1!
CME_MINI:NQ1!Short
by thetradedoc