Price Action Says Short, But War Can Say BullGold is extremely overbought on both the monthly and the weekly. So this should still ride overall as a short.
The conflict with Iran can still greatly affect the USD, so whatever happens, this week news-wise can still make it bullish against price action.
But technical analysis still screaming this is a big big short. Let's see.
BEAR TPS:
• 1550.55
• 1537.30
• 1527.05
• 1515.56
• 1503.63
• 1489.61
BULL TPS:
• 1571.51
• 1584.37
• 1595.62
• 1610.72
Keylevels
In a Range Awaiting BreakoutWe are in a range according to the 4hr.
According to the monthly and weekly, We are in the middle of a bear run. This range is several days long so far, so we are waiting for a breakout trade for this one to be active.
Don't know when that will happen. So you can range trade until it breakout, or you can wait until it's free. Your choice.
BEAR TPS:
• 1.70068
• 1.69680
• 1.69298
• 1.68939
• 1.67490
BULL TPS:
• 1.71354
• 1.71800
• 1.72316
• 1.72902
Strong Doji on Weekly Can Possibly Signal The Bull MoveAUDCAD looking like a buffet with that super-strong doji on the weekly. The strong bearish move was unphased last week and barely made a juke at all. It did a rejection at the daily and it looks to be forming a pullback on the 4hr.
The weekly shows a large rejection like the downward move has come to a screeching halt. But one way to know for sure is to see how the market plays out. Trade well this week. This may be the one I keep an eye on this week.
BULL TPS:
• 0.90314
• 0.90955
• 0.91256
BEAR TPS
• 0.89873
• 0.89467
• 0.89025
Bearish Continuation PossibleI'll be honest here.
I got excited GBPs became bearish.
The target goal if it continues down is around the 1.67490
if it can keep the swing going.
Otherwise, It can break this trendline and continue to keep going bullish
once it breaks through the daily SR zone.
Target for the bull this week. Is 1.71800
BEAR TPS:
From the trendline…
• 1.70611
• 1.70068
• 1.69680
• 1.68939
• 1.68150
New TPs will be posted once it breaks the last bearish TP.
BULL TPS:
• 1.70611
• 1.71066
• 1.71349
• 1.71800
New TPs will be posted once price breaks the last bullish TP.
Trendline Trading This OneWe're just gonna do trendline trading this week with this pair. Here are the TPs for this pair.
BULL TPS:
• 83.320
• 83.598
• 83.592
• 83.984
Must break and retest last TP before I post more.
BEAR TPS:
• 82.923
• 82.753
If can breakthrough monthly SR…
• 82.479
• 82.239
Must break and retest last TP before I post more.
Bearish Move May ContinueThe move is still looking pretty bearish for now.
It's currently set up for a pullback to the daily SR. And from there we will see if price will continue on to break the trendline and keep going.
Being honest here.
I HOPE it keeps right on moving down to the 135.674 daily zone. Getting to there will be making a great setup for another bullish rally.
Patience, patience.
BEAR TPS:
Starting from daily SR level 142.660…
• 141.469
• 140.757
• 140.009
If it can break and retest the last TP…
• 139.393
• 137.658
• 135.909
BULL TPS:
• 142.320
• 142.902
• 143.979
• 144.775
• 147.177
Must break and retest last TP before I post more.
This Is A Sell As Long As...If the president of the United States doesn't open his mouth or
further antagonize what looks like will be a HUGE war with Iran,
this is a setup to go bearish.
When he opens his mouth, especially about Iran, this will go bullish.
For now, a large bullish move with NO pullback means ones coming.
So I am completely bearish to 1537.30.
My bigger target will not be active until it can pass that monthly SR.
As a U.S. citizen, I am very nervous and upset about what just happened.
But for right now, I gotta mark the charts by price action and based on a new war possibly arising.
BEAR TPS:
• 1537.30
• 1527.05
• 1515.56
• 1503.63
• 1492.65
Must break and retest last TP for new TPs in this direction.
BULL TPS:
From monthly SR zone of 1537.30…
• 1550.55
• 1563.75
• 1593.05
• 1603.83
• 1629.31
Must break and retest last TP for new TPs in this direction
EUR/GBP: Quasimodo level for buy positionAs we can see in the H4 chart, the price creates a fresh demand below which also Quasimodo pattern.
This demand has changed the bearish momentum to bullish momentum,
As it seems now, the price tends to reach the supply - 1 and maybe even the Supply level - 2.
If the price retraces the demand below I'll buy there,
My first target will be supply level - 1 and the final target is supply level - 2.
GBP/USD: Waiting for Breakout in Order to BuyThe price just reach a demand level,
If the price will break out the resistance above it indicates the price on his way to reach the supply above.
If that happened I'll look for a price action setup for buy position,
The target will be the supply at the top.
Fresh Supply for sell positionAs we can see a few hours ago the GBP/USD price creates new supply.
This supply seems like a great level for sell position.
I'll sell at the supply on the first touch of the price.
The first target will be the demand below and the final target will be the demand at the bottom.
Bullish Continuation SetupThis pair has been bullish since September. What an amazing ride!!
We're adjusting for the next pullback or continuation.
It took a while for the breakout to happen out of a multiple-week range.
So this move shouldn't slow down this week as well.
BULL TPS:
• 143.816
• 144.775
• 145.637
• 146.988
BEAR TPS:
• 141.469
• 140.757
• 140.009
Setting Up For Breakout Trade From TriangleWe gotta breakout setting up as it is completing a triangle.
I want to see this breakout happen this week.
Both targets have been set for whichever direction it takes once it's ready for takeoff.
BULL TPS:
• 82.239
• 82.479
• 82.753
• 83.230
BEAR TPS:
• 81.523
• 80.926
• 80.640
Due For A Pullback According To Weekly ChartThis pair is an ongoing swing trade.
This pair may take a little bit of time to fully hit all TPs. At the moment, it looks like it's due for a pullback according to the weekly.
I'm still looking for the overall move to remain bullish. But let's see how long the pullback will last before it continues on upward.
Remember, I said it's due on the weekly. This means it can last a few days before it continues up.
Keep in mind that since it's December, this thing may be a little jittery on the move.
BEAR:
• 1.73548
• 1.73132
• 1.72699
• 1.72316
• 1.71800
BULL:
• 1.74406
• 1.75095
• 1.75927
USD/JPY - Intraday Key LevelsThe USD/JPY price created a fresh demand below,
This demand also creates a Quasimodo pattern which is a reversal pattern
I'll buy at this demand on the first touch of the price and the target will be the supply above which also a great level for sell position.
Both options are relevant for day trading.
SPX500 – Confluence of MACD Divergence And Fresh SupplyAs we can see in the H1 chart, the SPX500 has open the previous trading day with a huge GAP which creates fresh supply,
There is also significant MACD divergence which lasts almost 2 months.
The fresh supply above also change the momentum from bullish to bearish.
I'll sell at the supply above on the first touch.
The first target will be demand - 1, and the final target will be demand - 2.