USDEUR: Neutral. so USD long and short set-upUSDEUR: Still stuck in neutral so we don't have make a decision here. As with DXY the market will decide from here and we can follow. Get ready to pounce, though once the market gives us the signal as there is quite a lot of energy being stored up in this narrowing battle and it will have to get released soon...
Set
BITCOIN: BUY SET-UP for this dip (conditional)Bitcoin:BTCUSD If you want to hitch a ride to the craziest show since internet there is an opportunity coming up if conditions in comment are met. Otherwise wait because this shake out won't be over yet if it cannot regain the trend line just above it and turn it into support - and we should then get a better chance from lower down still
DXY: Dollar short/long set-up: watch and pounce, tigerDXY: Dollar Index still in neutral right now but the range between bulls and bears has narrowed and compressed...waiting to be realeased...we don't have to decide here. The market will do that for us. All we have to do is follow it when it does...
DXY: Dollar Index Update - just hit target at 97.43 closed outDXY: Dollar Index DXY has just hit the target at 97.43 and has come off since but still looks OK to buy at these lower levels again around 97.33 and so long as it doesn't come back below 97.29 (stop for longs) it should go on to break above 97.43 - 0r you can wait and once it gets above 97.45 go long again for next burst of USD strength, as per last DXY comment. USDEUR - next USD long trigger at same time as DXY, probably. Worth trading on next break
GOLD: XAUUSD Short set upGOLD: XAUUSD Gold is double topping as DXY double bottoms at 96.8. Gold should fall away from 1260-1264 resistance range to 1248 at least. Only consider going long of gold again if DXY falls below 96.75. The entire rally is based on weakening dollar, so once that prop is removed....
USDEUR: Back in neutral awaiting next signalUSDEUR: Dollar is holding up off the lows but still vulnerable whilst trapped within the down-wave. Either it breaks out and should be followed or it breaks down and should be followed. No decision to make. Not overbought now or oversold...so follow the move when it comes...
XAUUSD: Gold Spot: near term rally within medium term downtrendGold has broken down and should hit 1201 next week. But in very near term it's staging a minor rally within what is now developing into a medium term downtrend. Levels to watch today. PLEASE check CRB index comment if you trade Gold. It will help you understand and stay on the right side of the bigger picture...
SPY / QQQ / DIA recapRecap of how the RSG performed with the POP alert.
Values higher than 62 would be a point to hunt for position, Or do not do "traditional" iron condor.
Value below 38 shows the move is over, need to consolidate.
Value below 25 would be, time to consider reversal plays for a short term.
SPY / ES Ready to POPChop derived indicator, RSG is showing a larger level. All vertical lines are ready to pop situations. We are on another ready to pop scenario.
Remember - This is not a directional prediction. This is merely another way to look at Squeeze and align another indicator with similar concept to select a good ticker.
Enjoy