Today we hit final profit on yesterday’s LUNA levered long. We entered at $78.50, and enjoyed a nice +11% move to reach our final take profit of $87. We trailed our stop loss a few times to secure our position and protect profits, and rode this risk-free trade all the way to our final profit target.
We saw a rejection on DXY to go higher today. Tomorrow we might see price reach for our first target ( members only ), which would give us a sell idea on foreign currencies EURUSD and GBPUSD.
As we pointed out yesterday, EURUSD should be going lower. In fact, price has shown a willingness to go lower today. Tomorrow should give us a sell to target ( members only ), so look for sells on EURUSD tomorrow.
We are still bearish on GBPUSD. It is still in a pull back, and we expect it to drop this week. Currently it is pulling back into premium, relative to the current dealing range on the H1 timeframe. It can go as high as ( members only ), and then should make its way back down to ( members only ). So, look for sells at or above ( members only ).
We used the strength on AUD to buy more on AUDUSD. We are also looking to sell GBPAUD going into the rest of the week with the strength of AUD.
Strength on NZD gave us a push on our NZDCAD trade, and also gave us a signal that EURNZD might be dropping going into the rest of the week. For that reason, we will be looking at GBPNZD as well for a sell. That means we will be on the sidelines on NZDUSD, and instead will focus on on EURNZD and GBPNZD.
For EURGBP, price is currently stuck in a sideways market, but we believe that there is a possibility of price dropping on this pair later this week. Before it drops, we want to see the equal high at 0.85533 to the raided first, and then drop.
USOIL has pulled back into the range again, and we remain bearish. This pull back is an opportunity to sell short going into the market tomorrow. As long as price is below ( members only ), we would be expecting lower prices.
Our GOLD upside objective remains at ( members only ). Gold is in a pull back, and we would be looking to go long during tomorrow’s London session.
Just like oil, BTC is also in a pull back. We have a sell idea at ( members only ) with a stop loss at ( members only ), and are expecting partials at ( members only ) and ( members only ).
Turning back to crypto, we also bought HNT spot yesterday, and continue to hold BTC and MATIC spot positions. With BTC turning back up toward the $48,500 area, we see our other spot positions have followed suit with HNT, which is up approx. +8% since our entry. MATIC is also up approx. +11% today, and our BTC position is doing well with our entry at ( members only ).
We expect things to quiet down as we near the holidays, but will continue to monitor the markets, and we will be sure to check in this Thursday for the Canadian GDP and US Core Price Index updates.
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