Institutional trading techniques were a focus for today’s session. As reminder to our readers, you can learn to read the candles and patterns that help you identify trails left behind by the advanced institutional trading algorithmic models. Make sure to tune in daily for insider institutional trading techniques, and to understand price, to learn how the markets are manipulated and for live insight into reading institutional patterns.
We are not looking for a reversal on DXY today, but we can see a potential for a pullback to the upside. We are watching to take out the ( members only ) level, which could continue to the downside draw on liquidity at the ( members only ) level. However, for now we can still see a potential to the upside while it stays above ( members only ). Keep track of the 15 minute order block, and watch for a break of the short-time high at ( members only ).
We see a continuation to the downside for EURUSD. Watch the lower timeframe… if we take out the ( members only ) low, then price should reach ( members only ), and even ( members only ).
GBPUSD has not broken market structure from yesterday’s low yet. We may see a redistribution day, depending on the DXY breaking bullish or not.
We are using the strength of AUDUSD, and had come shy of 2 pips on direct trading the pair. If you were following along this week, you would have taken an entry and profit. Make sure to watch the live session for an updated breakdown.
We hit yesterday’s target levels on NZDUSD and saw a reaction. Chances are that price may stay in consolidation, and we detailed how to trade reactions this pair. We also covered some institutional trading techniques, and how to spot price manipulation.
We did not close above the EURGBP levels we wanted, but outlined if price goes below the ( members only ) level then we will go down to ( members only ), based on the big Daily rejection candle. We also covered how to set yourself up for either direction in the live session, be sure to catch the replay if you missed it.
We almost reached our first target at the ( members only ) level on USDCAD. Price is currently looking to be in a consolidation on 1H… if price goes lower, the next draw is ( members only ). We also identified a potential setup in the live session.
We were looking for a retracement on USOIL, but it was rejected. We are continuing to look for higher prices for USOIL, with the next target at ( members only ) based on an imbalance level. Keep your SL around ( members only ), and you know where to look if prices go lower.
Although we see higher prices on GOLD, we are staying out for today based on the recent rally and the status of DXY price. There are short scalp opportunities, but not high enough probability to know which side price is on just yet. On the daily we are above the external range liquidity, so we can expect price to go back into its range.
Our Smart Money bias on BTCUSD remains the same to the downside to ( members only ), then to ( members only ) and potentially to ( members only ) area. Make sure to tune in to the live session replay for a detailed breakdown of BTCUSD.
Turning to other crypto news, we still have no new trades in our $5k account. We have chosen to be wise and protect our capital by staying on the sidelines in the current market conditions.
While on the sidelines we have been contemplating why are the markets so choppy, what the big players are looking to do, and what the best trades to be in are. Unfortunately, the current conditions are caused by lack of a strong narrative in the market, and de-risking in the traditional markets that is trickling into crypto. Price action is very choppy, with no clear direction. If BTC continues to grind down, altcoins will most likely suffer as well, and at a higher percentage. We’ll provide further updates if we see any trade opportunities… but we are still reluctant to go short, preferring to stay neutral on the sidelines to protect capital.
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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