Trade signal profits were reached this morning on GBPCAD, delivering +3.78R return. Full details on these, and other trade signal profits can be found within the portal.
As we continue to hit Smart Money targets daily for Bitcoin and Oil, we note that NFP numbers came in lower than expected. However, that doesn’t matter, because it did not move the DXY out of its current range, so we are waiting for the next catalyst. In today’s live session we discussed how to do quick scalp trades on NZDUSD, and also covered the minor pairs that make sense in these market conditions.
We were expecting some more movement on the Dollar Index, because it’s the first week of the year. NFP came out, but remember that it is not important what the numbers are, price is going to do what price is going to do. It is better keep an eye on price more than the stats. Currently, DXY is still in the range, so NFP has not drawn enough volatility. We remain bullish, and if it does go low it will revisit ( members only ), but we remain to the upside to ( members only ).
EURUSD is the opposite, it should drop to ( members only ). Ultimately, expect lower prices on the Euro.
GBPUSD is still not clear on which side it wants to go. so we are neutral for the moment.
With AUDUSD, we are waiting for a potential trade before sending a trade signal. The market is still quiet, but we may get some more volatility, and a potential scenario could take out the ( members only ) low. In today’s session, we identified an imbalance on the order block at ( members only ) range.
We are expecting the ( members only ) level for NZDUSD, but are waiting for a pullback for the breaker to be hit before executing at the ( members only ) area. Feel free to scalp on the lower timeframe based on this information, using time of day. We identified a few ways of scalping in the live session.
EURGBP is hinting either accumulation or redistribution, and if it’s accumulation we are looking at price to stay in the range and take action when it breaks out.
We hit all USOIL targets again by closing the void. If you look closely you will see a MMBM form. If there is another level of accumulation our next targets are ( members only ) and ( members only ). We discussed how the Market Maker Buy Model level could fail, usually at optimal trade entry, which is the current price at the time of writing (79.44).
GOLD did not get to where we suspected, but we like the two equal highs and want to wait for fib optimal trade entry to take a buy,. Patience is required, and there has not been much displacement on the lower timeframe at 15M. Based on seasonality, GOLD is a potential buy from Jan 8 – 24, and we can expect bulls all the way through to Feb 24, 2022. The strategy for entry is to look for a market structure break.
For BTCUSD, we took out the levels we mentioned yesterday and are still looking at ( members only ) as its the next draw on liquidity. While riding the bear crypto market, we have garnered more than 300% since identifying this market maker model on November 29th.
Turning to crypto trends and trade signal profits, with the momentum of Covid, Fed interest rate hikes, and balance sheet reduction in full effect, a lot of fear & panic is being created in the markets. No one really knows where bottom is, but when fear is really high it usually the best days to buy for long term players. Our demonstration account is currently sitting above $4k in cash while we are waiting for more clear signs of a bottom. These are also generally good times if you are looking to add to long term spot holdings, because you get to grab good assets at a discount. For levered trades, we will be patient and wait for more clarity.
Next week we have an update from Mr. Powell at the Fed as well as CPI, PPI and Core retail sales as our pivot fundamental catalysts for the DXY.
And there’s a ton more of currency, crypto, commodities and other indices left to go over, paid members get to follow along with the trader daily inside our trading portal.
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