You Only Live Once! That's the sort of sentiment that's driving Gamestop north like nobody's business.
GME share price rocketed only because a bunch of Robinhoods pumped it. Then some guy who builds rockets tweeted about it, and it moved madly more north than ever.
Billions were lost by short sellers, and they then turned long joining a load of other late...
Stop fighting the trend, price will come and wipe out the supportive buyers before continuing its rampage to the upside.
I expect the price to bounce from the levels marked before creating new highs.
Sentiment Data - 69% Selling
We had a huge GBP pump as expected alongside the data release. Sellers had taken over the sentiment and it was time for banks to wipe out the majority of selling. I still think the price will get pushed above the previous highs before another dip down.
Several long positions have now been closed introducing sellers into the market, let’s continue to target the...
The pound strength we have seen over the past two weeks has been phenomenal but whatever goes up must come down. I would like to see a slight push above this minor resistance before we collapse to the downside.
The sentiment is heavy selling so we can expect some manipulation before we begin to drop.
Ideally, we want a strong wick down into the structure/order block before upside continuation.
I will be placing a buy limit around the region marked.
The sentiment is 50/50 on the direction of this market so we need to play it by ear.
COT - Institutions are fixated on a sell bias and have their sell positions loaded.
I would like to see continued upside after we bounce from the key structure and trendline, more liquidity is sitting above those highs and that is what I will be targeting.
COT Data - Insistutions have increased their long positions significantly (+5,347)
This pair has now had its previous structure attacked twice, my members will know that I I like to call this double-tap manipulation.
If we manage to cross back over the structure as illustrated, then we can consider a sell position, until then we must consider the posibility of continued upside.
This pair has been horrible to trade, it is caught in a very ugly looking range that keeps teasing us with structure shifts.
I won't be interested in trading this pair until we get a clear breakout or a scoop manipulation as illustrated. Until then we must sit on our hands and look for trades elsewhere.
The majority of retail is buying USDCAD according to...
The Brexit agreement created a lot of optimism for the pound which impacted the sentiment and introduced retail buyers into the market.
If you pay close attention, you will notice that two sets of liquidity have now been purged, potentially giving the banks enough volume to create the next upside move.
The first liquidity hunt was the push past resistance...
I would like to see CHFJPY take a slight battering to fulfil some orders before the strong bullish trend continues. I believe we still need to tackle the prior high before we see and signs of downside.
As shown in the related idea below, the liquidity purge that we expected has now completed, this opens up the possibilities of a potential sell position. I will be looking for a substantial crossover of the structure before I consider my sell, my SL will be placed at the SFL level marked.
Sentiment - 52% Long
I placed this trade with the team, we are hoping to target the prior highs.
The large gap and the change in structure will lure more sellers into the market but I will be fighting sentiment and targeting the liquidity at the highs.
AUD has been unstoppable this week, which has made it impossible to sell this pair. We have wiped out the prior high again but we remain above significant structure so we cannot sell until the price clears that level marked. Personally, I am more inclined to sells but I will go with the flow and not get caught with a bias. I assume the majority of sentiment is...
This pair has been frustrating to deal with this week especially with the DXY weakness we have seen. Although we are ranging, I do think we will see continued bullish momentum after we begin to lure more sellers into the market, I have illustrated what the potential move could look like.
Me and the team got involved in a buy from a limit order placed just below the support region of the range. We have been trading this in hopes of more upside potential but the volume this week has been flat. I will continue to hold this position and let you know what the outcome is.
Personally, I think buying will continue, we may get the typical sell lure but for the most part I think we will test the prior highs again. As illustrated we may have a manipulated head and shoulders pattern before shooting back to the upside. This is not my favourite setup but I will work with it next week.