SECURE_THE_BAG

03:31

SECURE_THE_BAG

Potential SHORT setup. Secure_The_Bag

SECURE_THE_BAG Updated 

As unfortunate as it is, South Africa's economy has taken a hit this past quarter with the Moody's downgrade being announced last week and a further hit due to COVID-19. However, we as traders capitalise on such when this aligns with the technicals we see on the charts. We work to secure our bag. According to the latest COT report, large speculators are...

SECURE_THE_BAG

USDRUB created a really nice M structure to the upside. This structure completed with an impulsive move to the downside which is now at a level of structure and is lined up with the Monthly 0.382 Fib level. All of this and the fact that large speculators are taking the RUB short, we can expect a move to the upside sometime in the coming week. Early analysis for...

SECURE_THE_BAG

The EURUSD has seen some big moves up and down over the past month. We can now expect that after this large impulsive move to the downside that the markets can begin the push up. Price is now at a strong level of structure respected multiple times before and it is in confluence with the 0.618-0.786 retracement of the previous leg. This along with the most recent...

SECURE_THE_BAG

As we all know markets move in waves. The simplest pattern we observe in the markets is the impulse and retracement pattern. With this in mind, we saw a very large impulsive move of the EURJPY to the downside and now we are expecting a retracement. Fortunately, we are now at a strong level of structure and we see large speculators are taking the EUR long (based on...

SECURE_THE_BAG

Interesting potential opportunity on the EURGBP. Following a large push to the upside last week, we now have a retracement to a level which is lining up with a pretty sweet Fib level. Taking a look at our COT reports for the week we also see a slightly stronger EUR and weakened GBP so we can expect the push up once liquidity is created. Waiting now for a valid...

SECURE_THE_BAG

Last week we saw the AUDUSD make a push to the upside, this was following 10 year lows. This was due to large spectulators closing short positions on this pair. However, large speculators still hold large short positions and no new longs were added in the push to the downside, suggesting to us that we can be looking for a push down. We are hoping the pair will...

SECURE_THE_BAG

What we saw last week on the EURCHF was a break-out of a major trendline. This was then followed by a retest of the last major level before the break of said trendline. With an increase in EUR strength outlook as well as a weak CHF (according to the latest COT reports), we can expect a push off of this level for a long position. Alternatively, markets could retest...