BTC profits were reached for any members that decided to use the analysis in our live sessions last week. It’s a good reminder of the value of tuning in to the daily Smart Money live sessions – in real time or in our past-live sessions area for recaps.
With the New Year just days away, we are seeing a lot of stale prices on the charts. Do keep in mind that most traders take this time off from making any moves as things take too long to come to fruition. This is a great week to relax and enjoy some of the videos in the library!
DXY has moved back into consolidation. So far we have not confirmed the swing low yet… we were waiting for price to break above the ( members only ) level, so we are forced to wait on the sidelines a bit longer. This is a great week to relax and enjoy some of the videos in the library!
EURUSD is still stuck in consolidation between the ( members only ) and ( members only ) levels. We should see a reversal to go lower to the ( members only ) level.
GBPUSD is also staying in consolidation. We are still watching the last upcandle around the ( members only ) area as it was not hit yet, so price can still move up a bit before our strategy kicks in. The seasonal tendencies should take effect any day now between the 29th and 31st of December. The potential reversal is waiting for the EURGBP low of ( members only ) level.
For AUDUSD, we tried setting things up yesterday, but prices are stuck for the holidays.
Turning to NZDUSD, we will be staying out for the day, and probably until the New Year.
EURGBP is still drifting to the downside, and we are still waiting for run to finish at around ( members only ). This is the only pair where the draw on liquidity is quite clear at the moment.
For USOIL, we did not break below the low of ( members only ) as well as we wanted – it touched it, but it’s not what we wanted to see just yet. We will be sticking to the seasonal expectation of a drop down to the ( members only ) area sometime in January. We are also waiting for a confirmation of the swing high, which seems to be pretty close now.
GOLD has pulled back into a range and we identified a risky trade setup based on the daily order block. Be sure to watch the session for details before entering, and make sure it’s a small position if you are going in. We also do an analysis on XAGUSD for a potential buy.
For BTCUSD, we saw price now drop to where we anticipated in the ( members only ) area. If you took action using the hints from last week, you should be in a position to take some BTC profits off of that sell.
Looking further into the Crypto markets, we have been seeing some relentless selling pressure, and there has been a narrative circulating that it is due to the expected interest rates hikes. This is not necessarily true, as Crypto is not affected by interest rates like the equity markets are. However, one can argue that if we see interest rate hikes in March, funds may looks to de-risk their equity positions to balance their portfolios, which in turn may trickle down to rebalancing other assets like crypto. In light of this, we believe it’s is better to be risk averse for now and protect your capital until we have a clearer picture of the market. Assets to look for outperformance in the market continue to be Layer 1 protocols like AVAX, SOL, NEAR, FTM, as well as MATIC, which we believe will have a huge year. It’s time to make a plan, mark out the levels you want to buy at, and to keep the buys small.
As 2021 draws to a close, the markets should continue to be slow. We’ll continue our daily analysis, but also recommend using the lull to brush up on your fundamentals in preparation to capitalize on profit potential in the new year.
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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