MTF Trades

  2021.03.25 Pre-Open Market Analysis of Daily Chart Yesterday ended up bouncing off the 1726-1724 support. Not a particularly strong bounce, but disheartening for the bears after such a strong close on Tuesday. The Bears need this support broken.  Today will be pivotal - if we close bullish, then the bull case strengthens as a bounce off support. If today’s bar closes bearish but above the support, then the lower timeframes could be bouncing to a lesser degree than the previous support tests and that would strengthen the bears case.   Silver has been much more bearish than gold. EURUSD has been very bearish, the DXY has been bullish and USDJPY looks like it’s breaking out of a HTF Bull Flag. With all these factors, you would think that gold is either behind and needs to catch up to intermarket dynamics or that the support at 1724-1726 is causing it to lead the way in a reversal. The issue with this is that aforementioned markets, still have room to run before they h...

  2021.03.23 Pre-Open Market Analysis of Daily Chart Yesterday was a bear day but bears weren’t that strong because of a small bear body and prominent lower wick. Bears are hesitant. Bears formed a Lo1 Sell Signal yesterday by breaking yday's high. To trigger it, it would need to fall below yday's low at 1727.35. The ioi daily pattern triggered to the downside, but once price neared the 1726 support, it bounced and we closed higher than the last 4 closes of bars which similarly tested that support. Much overlap over the past 6 days, with more prominent tails to the downside. Bulls want a test of 1759 and bears want a meaningful close below 1724-1726 support Overnight trading on lower timeframes XAU is up 25 pips, near it’s overnight high. Market sold off aggressively by 70 pips after the Asian open to 1731.14 and has since received nearly 100 pips.  H8 is ranging and has a bullish ioi triggering to the upside. There are definitely more prominent wicks to the downside, indicati...

2021.03.22 Pre-Open Market Analysis of Daily Chart Friday was a bull candle with a small bull body and prominent lower wick. Friday completed an ioi pattern. Break Out Mode, and we’re breaking to the downside.  Friday’s wick didn’t test the 1724-1726 support like Wednesday and Thursday. Upside target included 1759, March 1st high. Today’s candle had a small push up after the open and is currently down 140 pips. Price retested the 1726-1724 support and has since bounced slightly. Bulls want this test to play out like the last three and close above support. Bears want to close below support, and ideally close below the FOMC low of 1719.25  Overnight Trading on lower timeframes H4 candle closed bearish, below or equal to the last 12 candles. This is bearish. Price is currently in a choppy H4 range. H1 timeframe is showing a potential H&S, where both shoulders formed in the H4 resistance zone from 1740-1746.48. Price is in larger range and last three bars have bounced off of 1...

  Weekly Chart Selling off for 7 months after parabolic ATH. Broke below bull trend line, with a downward momentum. Moderate to strong breakout. Testing near bottom of parabolic climax at 1670.44.  Selloff is forming a wedge and the third leg bounced near support of the beginning of the start of the parabolic leg. Last three bear candles were strong, and this is the second bull candle from the wedge bottom bounce. Last week was a bullish buy signal for the wedge bull flag. This week went above the last weeks high to trigger the buy signal. This setup is moderately strong because this week is a bull bar with a decent bull body and last week was a bull bar with a larger bull body. Would have preferred strong follow through. Stop for bears is high above. Price bounced from trading range.Bounce could be profit taking as well.  Bulls might try this week for a strong follow through candle. 1759.95 is the target on deck. Follow by 1785.02.  Bears want this week to finish as...