Aaron_K_Trading

Aaron_K_Trading

After Sunday's open, we are now back at the open of the night - plus one or two points. Starting the trading day early has it's benefits. The difference being now however that the short term trend has also now turned BEARISH. Now that the short term trend AND the overall trend are now the same, it's time to follow the overall bias. Looking to entry a SHORT...

Aaron_K_Trading Updated 

This is a follow on from my analysis earlier today: The the estimated daily target at the first minor zone has been hit on Sunday open. The fact that the move was bought up so aggressively indicates that our next shorting location is higher up. I am currently long from S1. I will update again in the morning, but it is highly likely we will develop a trending...

Aaron_K_Trading Updated 

Last week saw a lot of emotional buying of the market. While some short positions were not viable later in the week, there has now been a clear rejection from: 1) The higher zone mentioned prior: 2) The previous long term weekly H&S pattern mentioned back in August: In terms of current price action, it seems that an inverse H&S pattern is forming on the...

Aaron_K_Trading Updated 

As of today, GC1 has now broken above the current zone, and has closed on a higher timeframe. In accordance with prior breaks, we now look for a retest of the broken zone at the 0.5 FIB of todays daily candle: The next target is either: 1) The next zone up OR 2) The prior neck line of the long term H&S identified in August. Keep in mind, despite this short...

Aaron_K_Trading Updated 

Following on from my analysis from yesterday, towards the end of yesterday's trading session, Gold printed a very strong hanging man candle. Traditionally, when this candle is printed near the top of a rally, it signifies a substantial move down. Also keep in mind, data releases so far for this week have been good for the dollar, and let us also remember that...

Aaron_K_Trading Updated 

Following on from my previous analysis, GOLD has made a sustained move upwards from the lower PURPLE zone, hitting both the 0.5 FIB and the GOLDEN ZONE respectively: At the time of writing this, price has now settled at the top of the current PURPLE zone, and has stalled at a daily trendline starting from the 20th July. There have already been three major...

Aaron_K_Trading Updated 

As a refresher, in the previous weeks, I posted a mid term chart for GOLD - based on the Futures charts - which suggested a move down to a previous support area (around 1745 LONGTERM). That chart can be found here: GOLD has now moved around 100 points from the suggested entry point. The sell off in recent days has been very intense; this is due to the relentless...

Aaron_K_Trading Updated 

As mentioned in my prior weekly analysis, there were some key fib levels to look out for. The 0.382 was hit yesterday. We waited to see how price reacted, and it broke through. Today the 0.5 was hit. Now we will wait for the daily close and see how the price reacts for a second time. it is highly likely a short entry will present itself either tomorrow - in...

Aaron_K_Trading Updated 

On the weekly timeframe, GOLD (based on the futures chart) has formed a head and shoulders pattern. Taking the Fib points from the most recent weekly high to the most recent weekly low gives us a very clear shorting location. Keep in mind, the daily POC - standing for point of control - is bang on the 0.382 point of this recent move, however, keep in mind that...

Aaron_K_Trading Updated 

The US PCE has released, and it is unchanged. Personal income is also down. What does this tell us? Inflation is slowing down, and we can also start to be confident of this new reality as the last few weeks of data have been on the downside for the US economy. As people will have less money to spend, and credit conditions worsen, the US30 should see some...

Aaron_K_Trading Updated 

GOLD has now reached the 0.382 fib point of the most recent weekly wave. As I have mentioned on my previous weekly analysis, this was the first zone to start looking for shorts. For now, wait to see how price reacts in this area.

Aaron_K_Trading Updated 

This appears to be a good area to long towards our weekly target of the 0.382 - of the weekly wave down. On larger time-frames such - in this case, the weekly - GOLD has formed a very substantial head and shoulders pattern. We have have not yet reached our minimum shorting zone, so for now, continue to look for LONG opportunities. Keep in mind, it is likely...

Aaron_K_Trading Updated 

US30 is now retesting the STRONG support zone it broke. This zone was formed over the past few days, so I am expecting a rejection. Look to enter a BREAKOUT SHORT below the current 1HR candle. Again, DO NOT FOMO into a position now. Allow the price to reject before jumping in. Remember, aim to make good trades, protect your profits and then think about making a...

Aaron_K_Trading Updated 

Looking like cable wants to retest the STONG support zone it broke recently. As we know, when support breaks, it becomes RESISTANCE. A good BREAKOUT entry would be below the 12:00am candle today. Please remember, Jackson hole is today so exercise extra caution and if needs be, reduce your lot size. Remember, protect your profit.

Aaron_K_Trading Updated 

The price is forming a very strong hammer on the 4HR for this pair. The Dollar looks like it wants to reverse to the downside. This in turn will weaken the Yen - against the dollar. If the yen weakens, then naturally the Euro should strengthen against the yen.

Aaron_K_Trading Updated 

The recent news release was bad for the US dollar. As stocks are inversely related to the dollar, we should see a push up. Looking for a BREAKOUT TRADE above the neutral pivot aiming for R1.

Aaron_K_Trading Updated 

The news release was bad for the dollar. it should soon reverse. If the DXY falls off, cable should gain some strength. Looking for a BREAKOUT LONG above the current 30 min candle. It seems like it has re-tested the bottom of the rage, so it makes sense to look for longs here. Again, ONLY ENTER A BREAKOUT LONG ABOVE THE CURRENT 30 MIN CANDLE.

Aaron_K_Trading Updated 

I have annotated on the chart what my thoughts are. For more information, please refer to my previous weekly bias post. Also key notes today: US durable goods was lower than expected, and generally the data was not good for the dollar. Ignore the short term noise, we can expect gold to see some strength here, however short lived it may be. You may want to long...