With FOMC, NFP, manufacturing PMI and other red folder news, we can expect some volatility coming into the end of the week. We have rallied up this morning on the London open and cleared last week's clear liquidity. From a technical perspective we remain firmly bearish however with tensions building in the Middle East, this is the type of news that can send gold...
Finally the bears have lost momentum on gold and the market is consolidating above $1800.oz. With US employment data today and NFP tomorrow, we would expect the market to use these events as volatility to sweep the lows before potentially reversing (news dependant).
Its something on our radar but first we need to see the high volume sweep before we can enter.
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A relatively choppy week for gold providing few opportunities to enter, we have some solid support in the form of volume profile levels which we will use to utilise if the market respects them. So far there is not much volume therefore a quick high volume move down would be ideal for bulls. Looking to clear out some liquidity above $1930.
Yesterdays ideas on cable were accurate in the end with a strong bullish move coming through in the afternoon. Quite frankly we are expecting something similar today post ADP non farm.
Of course the market will react fast with high volume therefore we will watching our key TPO levels from the futures market to find out where institutions are likely to transact....
Grinding higher, there is no real zone for EURUSD t find aggressive buyers. We would need to see a high volume dip into some key levels and a flip in order flow.
The idea is just an idea for the time being as it would be crucial to see how price reacts when / if returned to these levels. It could well just snap lower and continue on with the medium term...
With clear Asian liquidity sitting on the heatmap, we are looking for a sweep to allow bullish momentum into the market. For the time being this setup is nothing more than an idea which will need order flow confirmation.
This aligns well with TPO levels (AM session POC, Daily POC) which should provide a strong support around the 1.0790 level where we will look...
Ahead of Jackson hole, cable has broken down from a clear neckline of a H&S pattern. However, typically in the past the market has dropped below key support levels before breaking into new highs.
The market needs liquidity to fuel prices higher, now with a breakdown its possible the market has built enough liquidity and short positions who would now be trapped...
No real positive news from the GBP to support a fresh rally just yet. Clear liquidity remaining below 1.26 that could easily be taken before continuing on this bullish trend. For the meantime, preference is short positions until liquidity is swept fuelling further bullish moves.
High bearish cumulative delta building throughout the Asia session raising the...
