ElGore18

ElGore18

It's a busy week for central bank monetary policies with the BoJ, FED, BoE and SNB all due this week. Current probabilities are as follows: Federal Reserve - 98.8% Hold @ 4.5% Bank of England - 88.3% Hold @ 4.25% Swiss National Bank - 100% Cut from 0.25% to 0.00% The FED will also be realising their economic projections and forward guidance including...

ElGore18

MACD is a useful tool used in trending markets to gauge momentum and shifts in trend direction

ElGore18

After last weeks FED rate decision I think EURUSD downside looks like a good potential. We saw a continued cautious approach from the FED with hawkish undertones amid trade wars and sticky inflation. This now presents some clear divergences between central bank policies. The ECB are leading the way with looser monetary policy and continues rate cuts as their...

ElGore18

Markets a fairly choppy this morning amid possible US China tariff deals and ahead of NFP data this afternoon. Gold appears to be holding on an interesting level of resistance with the previous low/descending triangle, area of thin volume and fib retracement. Potential for downside in safe havens if US China talks continue and are successful

ElGore18

Interesting level on AUDCAD around a 4hr fib retracement. Holding below the 200ema with areas of thin volume being filled and recent days POC's breaking lower. Hourly chart has OBV and RSI divergence around the level and a potential rising wedge, would like to see OBV breaking lower accompanied by price breaking structure before rushing in. ...

ElGore18

A selection of some secondary tools and the signals they provide

ElGore18

Looking at a level on CADJPY. Possible short around a 4hr 61.8% retracement and downtrend line with RSI divergence. For the longer term position I'd like to see the recent low and counter trendline broken to confirm the reversal of the counter trend, also accompanied by volume profiles printing lower POC's. Current daily profiles aren't providing too much in the...

ElGore18

Price recently rejecting off 4hr resistance level with short term 30min downtrend forming. Price currently rejecting off 30min downtrend line, resistance and fib retracement. entry on break out counter trend channel and support level Stop loss behind recent swing high Target at 30min channel and MPO taken from 5min counter trend channel break Inline with ECB...

ElGore18

Trade idea Continue longer term GBPUSD downside with diverging macroeconomic data's and central bank policy. Entering trade if USD CPI comes in higher to support USD strength. Fundamentals GBP - The BoE has cut rates from the high of 5.25% to the current rate of 4.75% with more MPC members voting for a cut than anticipated. Inflation is holding around the...

ElGore18

Possible area of interest on EURCHF. 30min trendline and channel confirmed by 200ema and bearish profile shapes/POC locations. fib retracement aligning with trendline and low volume node as possible turning point. Will keep an eye on the reaction and possible triggers closer to the time. Eurozone marco data continues to come in lower promoting the continuation...

ElGore18

Long position in USDCHF range. 4hr ADX below 30 indicating a lack of directional strength, clear support and resistance level above and below range. Price has entered the support level with OBV divergence and a stochastics cross. Possible entry through the resistance breakout

ElGore18

Possible level to go short off on WTI Crude oil. Price coming back up into a trendline, resistance level (previous swing low), and low volume cave with the 200 ema acting as resistance and confirming trend. Also have yesterdays volume profile closing as a b shape with POC at lows and lower than pervious day. OBV is creating bearish divergence within this zone on...

ElGore18

Short on silver, breakout through channel and H&S price pattern.

ElGore18

Possible long entry if price holds above level of support after breaking out from higher and lower TF falling wedge patterns

ElGore18

Possible long entry if price holds above level of support after breaking out from higher and lower TF falling wedge patterns

ElGore18

Waiting for a confirmed continuation long on Nvidia. Correction is unlikely to be sustained without clear fundamental drivers especially with FED rate cuts around the corner. Looking towards key fib levels aligning with support. Either 38.2% at support level or 61.8% at $100 round number. Wait for clear break of structure to upside in the way of either counter...

ElGore18

Short term long position on gold to fill low volume cave and market profile single prints after price has rejects trendline and broken short term HH

ElGore18

Short oil off 4hr resistance and breakout through 1hr counter trendline, head and shoulders with RSI divergence