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XAUUSD - GOLD Yearly viewWe are at a very interesting price point with gold and the worlds economy at this current time. We have seen Gold prices reaching their highest levels since 2013 as all the big players have been accumilating the yellow precious metal. Where as silver has started to outperform the yellow metal, traders and Investors have began to realise the economic impact of gold as a safe haven especially with the impact of Coranavirus (COVID-19). Effects of the rsing tensions between US & China trade talk, drop in stocks, treasury yields and IHS ecomomic data has provided a boost for the precious metal. Overall, it seems the upcoming rally within the precious metal industry which also includes silver could be significant at the moment and not a opportunity to be missed! As always... PATIENCE, CONFIRMATIONS, ENTRY, PROFIT!!
SAXO:XAUUSD
by jedahs
4
EURUSD Mark UpA trading buddy and myself decided to come together to tackle a few currencies, this is one of them. The Euro/US Dollar used to be on my radar until I swapped it out with a currency pair that's known for being more aggressive with it's movements. I do plan on adding it back into my watch list once I'm ready to take on more swing trading opportunities. Let's begin! Bias - Bearish In a situation like this, I would look to the US Dollar Index to add onto my confluence. I need to see a few things take place in order for me to feel confident to put my capital at risk and that's when I look for clues. If I don't see what I'm looking for OR I feel like I'm forcing myself to see something that isn't there is a clear indication to go eat a bowl of cereal while watching Impractical Jokers. Confluence (3 or more): 1. Strength in US Dollar (check my DXY analysis). 2. Weekly candle engulfed & closed pass an O.B. 3. Weekly candle closed passed a PPZ. 4. Continuation O.B. formed before engulfing opposing O.B. In a perfect scenario, the opening candle will gap within that continuation o.b. If that were to happen I would take a conservative approach by placing a stop at the PPZ (1.0846) for a Take Profit set at price's most recent swing low $1.0340. A retest of the old Distal (1.0820) would serve as a good entry too. If there's a B.A.R. of the $1.0340 level then I would take that as another entry to head towards the PPZ (0.97253). If Price Action happens to plow through the PPZ then I would look to go even lower towards that huge Order Block (0.8231 - 0.8840) for Take Profit. The O.B. was last hit March 1, '01 - April 1, '02 so orders were absorbed which means it's not as strong as an untouched O.B. Let's see how it plays out! *NOT FINANCIAL ADVISE*
by ChrisJTradesFX
1
GBPUSD UpdateYesterday's British Pound/US Dollar analysis was done from a Weekly perspective for the... somewhat overall direction. Today we're diving in from a Intraday view from the H1. Be sure to go check out my Weekly GBPUSD analysis too! The purple horizontals represent a huge Order Block that was breached (broken on certain time frames) so what I'll be looking for in this scenario is a rise in price. However, that's only a setup for a short opportunity so anything moving up right now could be extremely risky to your capital. What would I do?! Long - I would wait for a break of the diagonal resistance to execute at the $1.1700 with Take Profit set for the old Distal @ $1.1904. Short - If the continuation zone ($1.2046 - $1.2129) is "respected" then I would execute at the $1.2046 with Take Profit set for $1.1529. I would also have a stop set at the old Distal for a conservative entry. Other than that I would patiently wait for Price Action to leave more clues to discover. We shall see. *NOT FINANCIAL ADVICE*
by ChrisJTradesFX
BTC- Safe asset? The moment of reckoning! PA/OF analysistwitter.com All these talks about BTC being the safe asset during the economic turmoil and Financial crisis... It is now the perfect time for it to step up to the plate and rise to the occasion. Is it finally BTC's moment to shine? Let's take a quick look at what happened during the weekend. The fast and furious drop is the result of thin liquidity and IMO, a pure long liquidity grab move. The price did not get violently rejected at the 9.2k because of the extreme momentum, crazy volume, high volatility and overheated buying pressure. In other words, it was not a blown-off top resulting from the overbought status. The price reversed because the lack of short liquidity (Lack of buyers at 9.2k or weak buying power relative to the strong limit sell orders/walls at 9.2k). Therefore, I expect it to be the profit-taking move by whales and, whales are possibly building up more long position through split orders. Fear index is below 20 and the the last time it happened BTC rebounded from 6.5k. Fast and furious pullback with no bounce like this one BTC is currently experiencing cannot last long. I expect at least some relief rebound. If not, 7.2k here we come. Proceed with caution and focus on the HTF when the volatility is high. Please like and follow me if find my post helpful :)
BITSTAMP:BTCUSDLong
by Libratus
3
EURGBPWe've had the weekly distribution schematic happening perfectly so far, now marking this up again I'll like to see the 2nd LPSY be made for our 1000 pip entry move to the downside which adds confluence of our GBP based pairs heading to the upside long term heading into the first few months of 2020. From that point on I expect EUR to then start to rise begging a bullish rally to the upside as I expect GBP based pairs to severly weaken heading into the end of 2020 as a markek crash is expected. #WyckoffSchematics
by jedahs
3
BTC- New trend in the development...? (sentiment, liquidity)BTC is off to the good start this year! Can it last though? I will spare you the head and shoulders bottom. Let's focus on the sentiment analysis because I think it provides important clues for the potential trend reversal. It is good that BTC broke out of the 6 months downward channel with above average volume on the daily timeframe and also managed to bursted through two resistance lvls in the process. Both are good indicators of potential trend reversal. This price move will be more convincing If the price can manage to close the daily above 8.2k to 8.3k On the fundamental side, Iran news and all-time high hashrate might have something to do with this price spike or it might be the pure technical move. It is still too early to rule out the possibility of liquidity raid even though I suspect most of the shorts at this lvl have been taken out already during last year's Oct price spike. Quick glance at the latest COT report about CME futures indicates that institutional players are still overwhelmingly net short, which indicates the ongoing distribution process. I am waiting for the Bitmex funding rate's green bar to go higher, which could signal the potential bullish sentiment. Backwardation suggests that investors still believe that BTC price will keep going down. Again, bummer here. That being said, it is worth noting that all these sentiment indicators are lagging so it is better to check them again next week if the price momentum continues. I will pay attention to the open interest and volatility and be wary of any big orders in the orderbook in the upcoming days. IF BTC can manage to attack 8.8k to 9.2k and consolidate around that price range, then the bull reversal might be on the horizon. If the price stalls around 8k, it could be a good time to buy on the pullback. Oh! Iran just fired missiles to US bases! If you buy into the notion that BTC is the digital gold and is uncorrelated to the stock market (we could use more evidence on the correlation), then that is one more reason to be bullish on BTC.
BITMEX:BTCUSD.P
by Libratus
2