Our GOLD trade hit profit today, and we are recommending trailing your stop loss to break even and collecting those trade profits. As always, full details on the GOLD trade profits and strategy can be found in the portal.
Looking at DXY, the NFP is on Friday and we might see the news event used as a reason for DXY to rally. Because of this, price will likely stay in a range and then move on Friday… so be aware and trade wisely.
With EURUSD, the EUR pulled back into the bearish order block today and started rejecting. We might get a sell idea on EUR tomorrow, with downside objectives of ( members only ) and ( members only ).
Yesterday’s break in structure on GBPUSD did not hold, and price has made a new high. This is either a sign of distribution, or it was a stop run to continue higher. Because it’s unclear as to what it’s trying to do, we will be sitting on our hands until we know where is trying to go.
Turning to AUDUSD, we used the strength on AUD that we identified yesterday to sell EURAUD today, and we are currently watching the GBPAUD for a potential sell. We will also be watching closely for a break in structure on GBPAUD.
With NZDUSD, we also identified NZD being a strong pair, and the strength was used to look into EURNZD and GBPNZD. Both pairs are currently in premium, and we are waiting for a break in structure before we look to sell short on both.
Price is looking to reverse to go up on EURGBP, and we will be watching on the lower time frame for signs of reversal.
USOIL missed our target by 33 pips and then reversed. We are waiting to see how the daily time frame will close today before deciding what to do going into the rest of the week.
GOLD gave another buy today during the London session. The target for our trade profit on gold is ( members only ). It has the potential to go higher than that, but we will take most of the profit off at this level. The next target would be ( members only ).
Turning back to BTC, we see that price is heading towards our downside objective of ( members only ), so look for sells on BTC.
Looking further into crypto, we have decided to close off all our open spot and levered positions in crypto to start the New Year. Please note that this does not necessarily mean we don’t hold these coins anymore. In fact, we still hold most of them. However, for tracking purposes and to show you how we are managing each of our positions, we have decided to start a fresh $5,000 account on FTX. Last night, we took our first position on $SUSHI. Sushiswap is a DEX that we believe will have a great year in 2022. We’ll keep members posted on the gains inside the portal.
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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