Simply supply and demand zone technique used. The blue horizontal lines are where there is a nice overlap of the optimal entry on my Fib. I will personally be putting in my orders at these levels and scaling them as they go down. Please note it may not reach any of zones especially the deeper/lower ones. A market crash is imminent so this should price levels to...
GBPJPY M30 - Struggling to maintain this upside momentum on GJ. Could see a break of support, retest and correction down to our H1/H4 trendline support zone. Really nice RR if this breaks and retests nicely.
EURNZD H4 - Seen a 100 pip rally from support here, hoping to see something similar on EURCAD, we wanted to take a trade from EC rather than EURNZD due to RR benefits. EC seems to be lagging for the moment, saw a nice H1 engulfing from support, but have yet to break the counter trendline.
DXY H4 - I would expect us to push to the trendline resistance zone at least. We may pullback to 98.85 before another bounce, like we saw on the 20th and 21st May.
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EURUSD H4 - Nice initial drop from resistance as marked up yesterday, DXY seeing a bit of a bounce from that 98.85 support zone, wonder how far this correction may extend... Full rundown to be posted just after London open.
USDWTI H4 - Breakout already seen, looking for a retest to find support and then upside continuations. As lockdowns and government restrictions ease, we should see continued increase in WTI and XTI and aviation and motor industries start picking up again, obviously s/d.
Gold broke resistance last week. Technically was trying to reject the H4 resistance of 1738.60, however poor USD retail sales saw a gold break this zone after initially rejection it in the morning. DXY in-between a key zone to trade from too, 100.30 is a key S/R zone. Possible gold longs after a clean retest a support hold on 1738.50
I'm keeping a close eye on EURUSD, we have now approached the retest of a previous descending trendline, currently sitting above the 1hr 50 EMA, lining up nicely with local market structure and the 50% fibonacci level. If we see a clear rejection here I will be entering long. What are your thoughts?
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With all the added pressure on the currency market due to corona virus, Bitcoin is set to sail.
I predict that most economies are going to tank a lot further yet also.
It is not wise to buy yet, wait for all the "dumb money" to buy, get wiped out by market makers, then buy.
See how easy it is to see stop losses, do you not think that big institutions can't see...