For the readers’ benefit:

Price action confirmation: simply means traders will likely wait for price action to confirm a level by consuming the opposing supply or demand area, then entering a trade on a possible retracement, this may occur on the lower timeframes also.

Pending orders: means pending orders are likely seen.


EUR/USD:

Daily TF.

We can clearly see that on the daily timeframe, demand at 1.34770-1.35557 had active buyers within this area with the next trouble point for the buyers being seen at supply above (1.37342-1.36890).

eurusddaily

4hr TF.

The buyers were taking no prisoners yesterday! There was little to no reaction seen, even at the round number 1.36000, which was our first target as we were long from demand below at 1.35378. Price came within 20 pips of our second target at 1.36666, and with the sellers seen showing interest around this area, it may be best to take what profit we have, and close the position, so all in all, a great trade on this pair, with a tidy profit locked in.

Pending/P.A confirmation orders:

  • Pending buy orders (Green line) are seen around demand (1.33995-1.34298) at 1.34368.  This demand area will more than likely see some sort of reaction due to its location seen to the left.
  • The pending buy order (Green line) set at 1.35378 just above demand at 1.35036-1.35312 has now been closed. The second target at 1.36666 was nearly hit, so we decided to close our position very near its target.
  • No P.A confirmation buy orders (Red line) are seen in the current market environment.
  • Pending sell orders (Green line) seen at 1.36955 just below supply at 1.37235-1.37005 are set here since this level remains untouched, meaning unfilled orders are likely still set around this area.
  • P.A confirmation sell orders (Red line) are visible below the minor resistance 1.36666 at 1.36625, this level has proved valid in the past, but still needs to be confirmed due to a spike/wick (circled) seen above resistance, which may have consumed most of the sellers originally there. Do be on your guard with these sell orders; the higher-timeframes are currently indicating that higher prices may be seen this week (Weekly demand: 1.34770-1.36771 Daily demand: 1.34770-1.35557).

eurusdh4

  • Areas to watch for buy orders: P.O: 1.34368 (SL: 1.33926 TP: Dependent on how price action approaches the zone) 1.35378 (Closed in profit) (SL: 1.34971 TP: [1] 1.36000 [2] 1.36666 [may be subject to change depending on approaching price action]). P.A.C: No P.A confirmation orders seen in the current market environment.
  • Areas to watch for sell orders: P.O: 1.36955 (SL: 1.37270 TP: [1] 1.36666 [2] 1.36000) P.A.C: 1.36625 (SL: 1.36810 TP: Dependent on where price ‘confirms’ the level).
  • Most likely scenario:  With the daily chart above showing room for price to move north, a fake out at the minor resistance level on the 4hr chart at 1.36666 up to supply at 1.37235-1.37005 may be seen, before any lower prices are visible.

 

GBP/USD:

Weekly TF.

On this timeframe, we can see price is making an advance towards major supply at 1.76290-1.70490; will long-term sellers come into the market around this area? Only time will tell. One thing we know for sure now is that any long trades on the lower timeframes will have to be carefully placed due to this weekly supply area.

gbpusdweekly

Daily TF.

On the daily timeframe, daily supply at 1.70410-1.68880 has nearly been fully consumed. If a daily close is seen above the round number 1.70000, and also the supply area just mentioned, this will likely force price to test daily supply above at 1.76290-1.73110 seen deep within the weekly supply area (levels above).

gbpusddaily

4hr TF.

Chart 1 below shows how a sneaky tail/spike came down to consume some of the buyers at the mini low 1.69221 (marked with a red line and two arrows). However, notice what happened after! There was no way a pending sell order could have been set once this bullish candle was seen.

Supply at 1.69963-1.69726 has been totally consumed, along with the round number 1.70000 seeing a positive 4hr close above as well, making these areas a place to watch in the near future for buying opportunities.

Chart 1:

gbpusdh4 chart 1

Pending/P.A confirmation orders:

  • Pending buy orders (Green line) are seen at 1.67610 just above demand at 1.67378-1.67583. A pending order is valid here due to the momentum away from the demand area, indicating orders may be left unfilled here.
  • P.A confirmation buy orders (Red line) are seen just above the round number 1.68000 at 1.68038. A reaction may be likely here because of the way pro money used this level to rally prices higher with force, a quick change in direction like this likely indicates pro money activity, thus, all of their orders may have not been filled at that time. The reason a pending order is not used here is because pro money, on a regular basis perform deep stop hunts around big figure levels (1.68000), and these tails/wicks can be huge sometimes, hence the need to wait for confirmation.
  • New P.A confirmation buy orders (Red line) are seen just above minor support (1.69431) at 1.69482. A reaction north is likely to be seen here, however we are currently seeing higher-timeframe supply being hit on the weekly timeframe at 1.76290-1.70490, hence the need for a confirmation buy order, rather than a pending buy order.
  • New P.A confirmation buy orders (Red line) are seen just above the round number 1.70000 at 1.70034. A reaction north is likely to be seen here, however we are currently seeing higher-timeframe supply being hit on the weekly timeframe at 1.76290-1.70490, hence the need for a confirmation buy order, rather than a pending buy order.
  • No pending sell orders (Green line) are seen in the current market environment.
  • No P.A confirmation sell orders (Red line) are seen in the current market environment.

Chart 2 below shows the new alterations made, and the two new P.A confirmation orders that have been added (explained above in the pending/p.a confirmation orders section).

Chart 2:

gbpusdh4 chart 2

  • Areas to watch for buy orders: P.O: 1.67610 (SL: 1.67345 TP: [1] 1.68000 [2] 1.69000 [likely to be changed, depending on price approach]). P.A.C: 1.68038 (SL: Dependent on approaching price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed). 1.69482 (likely to be set at 1.69176 TP: Dependent on approaching price action after the level has been confirmed) 1.70034 (SL: Dependent on approaching price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed).
  • Areas to watch for sell orders: P.O: No pending sell orders seen in the current market environment. P.A.C: No P.A confirmation sell orders seen in the current market environment.
  • Most likely scenario: .Price is will likely begin to see a retracement very soon, as buyers will possibly begin taking profit from the rally seen earlier. A retracement will likely see the round number 1.70000 seeing a touch very soon.

 

AUD/USD:

4hr TF.

This is beautiful, look at what happened around the D/S flip area at 0.93186-0.93345, a tail/spike was seen penetrating deep into the zone, where there were clearly big buy orders from pro money set there.

The minor gold-colored supply area seen at 0.94053-0.93944 needed to be consumed for price to have any chance of hitting our pending sell order at 0.94447 around the high 0.94613.

Price has very little stopping it reaching our pending sell order (level above), other than the high marked with an x at 0.94375, however, this could prove beneficial to pro money, as they may decide to fake this high up to the next set of highs at 0.94613 (circled to the left) thus triggering our pending sell order in the process.

For reference: the trendlines placed on the charts are not resembling trends as such, it is more to show how pro money has likely consumed minor S/D pockets to clear the path for either the buyers or sellers (depending on which way price is heading).

Pending/P.A confirmation orders:

  • No pending buy orders (Green line) are seen in the current market environment.
  • P.A confirmation buy orders (Red line) are seen at 0.92231 just above demand at 0.92037-0.92203. It would be too risky to set a pending order around this area, since deep spikes into this demand zone have been seen (levels above) possibly consuming the majority of buyers in the process.
  • P.A confirmation buy orders (Red line) are visible just above the round number 0.93000 at 0.93025. We require confirmation of this level because previous price action has warned us deep tests both north and south happen on a regular basis, hence the need to wait for confirmation rather than getting stopped out time after time through lack of patience.
  • Pending sell orders (Green line) are seen at 0.94447, if price manages to get up to this level, active sellers are likely waiting because of how quickly price changed in direction, only pro money have the account size to do this, indicating unfilled sell orders may still be unfilled there.
  • No P.A confirmation sell orders (Red line) are seen in the current market environment.

audusdh4

  • Areas to watch for buy orders: P.O: No pending orders are seen with current price action. P.A.C: 0.92231 (SL: more than likely will be at 0.91984 TP: Dependent on approaching price action after the level has been confirmed) 0.93025 (SL: Dependent on approaching price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed).
  • Areas to watch for sell orders: P.O: 0.94447 (SL: 0.94667 TP: Dependent on approaching price action). P.A.C: No P.A confirmation sell orders seen in the current market environment.
  • Most likely scenario: Price will likely decline a little further to the round number 0.94000, before a rally is seen up to the highs (marked with a circle to the left) at 0.94613.

 

USD/JPY:

4hr TF.

Look at how close our second target at 102.367 came to be filled, literally within a pip or two! We closed our long position at 101.679 represented by the black dashed trend line, as sellers looked as though they were taking over.

Also, what a fantastic trade that would have been, if our pending sell order set at 102.367 would have been filled, we would have currently been at least 4R up in the trade! This pending sell order will remain in position for now, as pro money may decide to re-test this area once again as there was once big sellers there.

A new pending buy order has been set deeper within 4hr demand at 101.427-101.660 as pro money will likely spike deeper into the confirmed demand area (101.427-101.660)  to test the area for responsiveness (active buyers), thus helping them decide if they should break this demand area or trade off of it.

Pending/P.A confirmation orders:

  • The pending buy order (Green line) set just above demand (101.427-101.660) at 101.679 has now been closed. The second target 102.367 came within a pip or two to being filled.
  • New pending buy orders (Green line) are seen deeper within demand (101.427-101.660) at 101.542. A pending order is valid here since pro money are frequently seen testing deeper in confirmed demand areas such as this, for active buyers.
  • No P.A confirmation buy orders (red line) are seen in the current market environment.
  • Pending sell orders (Green line) are visible at 102.980, deep within supply (103.055-102.742), this area may well appear to be weak now, but the way price reacted at the circled area within supply indicates pro money activity, meaning sell orders may be left unfilled there, so a pending sell order is permitted.
  • Near-term pending sell orders (Green line) are seen at 102.367. A pending order is valid here since this is the area where pro money made the ‘decision’ to take prices lower into demand (101.427-101.660), unfilled sell orders were likely left there in the process.
  • No P.A confirmation sell orders (Red line) are seen in the current market environment.

usdjpyh4

  • Areas to watch for buy orders: P.O: (Closed in profit) 101.679 (SL: 101.404 TP: [1] 102.000 [2] 102.367 [but may be subject to change]) 101.542 (SL: 101.389 TP: 102.000 but may well change if the market sees any new developments) P.A.C: No P.A confirmation buy orders are seen in the current market environment.
  • Areas to watch for sell orders: P.O: 102.980 (SL: 103.108 TP: 102.117, but may well change if the market sees any new developments) 102.367 (SL: 102.458 TP: Dependent on how price action approaches this area). P.A.C: No P.A confirmation sell orders are seen in the current market environment.
  • Most likely scenario: Pro money will likely test the confirmed demand area (101.427-101.660) by pushing/spiking deeper into the zone hunting for active buyers.

 

EUR/GBP:

Daily TF.

As reported in yesterday’s analysis, active sellers were expected to come into the market around supply (D/S flip area) at 0.80348-0.80576. Enthusiastic sellers have been seen coming into the market already, just before the supply area mentioned above.

eurgbpdaily

4hr TF.

A spike/wick above the D/S flip area at 0.80053-0.80176 has been seen, it is very likely that most of the sellers in and around this area have been consumed now.

If price manages to get back down to the ‘decision point’ area (marked with a horizontal level) at 0.79689, we may see pro money fake past this level into true demand at 0.79405-0.79552. Consequently, this will stop out the majority of the buyers around this area, giving pro money their stops which would be sell orders, for them to buy into, thus supplying the pros with the liquidity they need to push prices higher.

If a break above is seen, price will likely see a reaction within supply at 0.80647-0.80583 which is within the daily D/S flip area mentioned above at 0.80348-0.80576.

Pending/P.A confirmation orders:

  • No P.A confirmation buy orders (Red line) are seen in the current market environment.
  • A pending buy order (Green line) has been set at 0.79580 just above demand at 0.79405-0.79552. The rationale behind this is because buyers have likely consumed the majority of the sellers lurking around supply (D/S flip area) at 0.80053-0.80176, likely clearing the path for higher prices. A small retracement will possibly be seen to collect more buyers for a rally higher, thus triggering our pending buy order.
  • No pending sell orders (Green line) are seen in the current market environment.
  • P.A confirmation sell orders (Red line) under the S/R flip level 0.81403 at 0.81393 is an area where a reaction is likely, however there were too many wicks north seen marked with arrows, indicating sellers are drying up, thus, the need to wait for more confirmation.
  • P.A confirmation sell orders (Red line) are seen just under supply (0.80869-0.80771) at 0.80752. Confirmation orders were used here because price is trading around a weekly demand area (0.79596-0.80299), which means price could easily consume this supply level as the higher timeframes usually overrule the lower timeframes.
  • P.A confirmation sell orders (Red line) are seen just below supply (0.80647-0.80583) at 0.80293. Confirmation orders were used here because price could easily consume this supply level as we are currently deep within a weekly demand area (0.79596-0.80299), which means price could easily consume this supply level as the higher timeframes usually overrule the lower timeframes.

eurgbph4

  • Areas to watch for buy orders: P.O: 0.79580 (SL: 0.79368 TP:  [1] 0.80000 [2] 0.80583 [May change if any new developments in the market are seen]) P.A.C: No P.A confirmation buy orders are seen in the current market environment.
  • Areas to watch for sell orders: P.O: No pending sell orders are seen in the current market environment. P.A.C: 0.81393 (SL: Will be likely set at 0.81564 TP: Will be likely set at the round number 0.81000) 0.80752 (SL: likely to be set at 0.80900 TP: Dependent on where price ‘confirms’ the level) 0.80293 (SL: likely to be set at 0.80648 TP: Dependent on where price ‘confirms’ the level).
  • Most likely scenario:  We will still see a likely decline from where price is currently trading at the moment to 4hr demand below at 0.79405-0.79552. However, a spike above to 4hr supply at 0.80647-0.80583 is not out of the question.

 

USD/CAD:

Daily TF.

Minor support seen at 1.08142 on the daily timeframe is currently seeing a reaction. It is unlikely a break below will be seen, but if it does, sellers have little obstacles in their way until demand below at 1.05883-1.06779.

usdcaddaily

4hr TF.

The diamond formation has been resolved north into supply (1.08907-1.09047), while also triggering our confirmation sell order set at 1.08876. A sharp drop then followed consuming most of the buyers around demand at 1.08142-1.08330, thus confirming the supply area just mentioned above, and allowing us to set a pending sell order within supply, just below the round number 1.09000 at 1.08975.

Pending/P.A confirmation orders:

  • No pending buy orders (Green line) are seen in the current market environment.
  • The P.A confirmation buy order (Red line) set just above demand (1.08142-1.08330) at 1.08348 has been cancelled. Price dropped too far from the confirmation entry level, and buyers at the time of writing, made no attempt to push prices higher.
  • New P.A confirmation buy orders (Red line) are seen just above the round number 1.08000 at 1.08024. The reason a pending buy order has been set is for the simple fact, pro money love to spike these areas looking for stops, thus the need to wait for confirmation, rather than getting stopped out time and time again.
  • Pending sell orders (Green line) just below supply (1.10039-1.09875) at 1.09851 will very likely see a nice reaction. However, we should remain aware of the big figure number 1.10000 lurking within the top half of the supply area (levels above), so a bigger stop may be necessary
  • New pending sell orders (Green line) are seen at 1.08975, within supply (1.08907-1.09047) just below the round number 1.09000. A pending sell order is permitted to be set here since the sellers confirmed this area from the previous confirmation sell order that was originally set at 1.08876 (marked with a circle), by consuming the majority of the buyers situated in and around demand below at 1.08142-1.08330.
  • P.A confirmation sell orders (Red line) are seen just below the S/R flip level (1.09408) at 1.09361. A P.A.C order was selected here because of the deep wicks seen in and around this area, possibly indicating sellers have been consumed, thus weakening the level on return, and also not forgetting we are currently in higher – timeframe demand (weekly:1.08438 daily: 1.08142).

usdcadh4

  • Areas to watch for buy orders: P.O: There are no pending buy orders seen in the current market environment. P.A.C: 1.08024 SL: Dependent on approaching price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed).
  • Areas to watch for sell orders: P.O: 1.09851 (SL: 1.10114 TP: [1] 1.09408 [2] 1.09047) 1.08975 (SL: 1.09059 TP: 1.08330 [May change if any new developments in the market are seen]) P.A.C: 1.09361 (SL likely to be set at 1.09513 TP: Dependent on approaching price action after the level has been confirmed).
  • Most likely scenario:  Price can do one of two things, we will either see price spike down below to the round number 1.08000, or we will see price rally hard back up to supply at 1.08907-1.09047. The former is more likely as we are in higher-timeframe demand (weekly: 1.08438 daily: 1.08142).

 

USD/CHF:

4hr TF.

Price has broken out of the mini range (0.90116/0.89643) to the downside as reported may happen in yesterday’s analysis. Our active short order at 0.90063 has had its first target hit at 0.89168, this would be a good time to lock in some profit on this trade and allow the rest to run, giving price the chance to hit our second target below at the daily S/R flip level 0.88501.

If a break below demand at 0.88973-0.89168 and the round number 0.89000 is seen,  the sellers have one obvious trouble area (demand 0.88656-0.88816) to contend with before our final target is hit (level above).

Pending/P.A confirmation orders:

  • No pending buy orders (Green line) are seen in the current market environment.
  • P.A confirmation buy orders (Red line) are seen just above the daily S/R flip level (0.88501) at 0.88533. This level needs to see some confirming price action before any entry is placed in the market, due to their being no logical area for a stop loss order.
  • Near-term P.A confirmation buy orders (Red line) are seen within demand (0.88973-0.89168) at 0.89029, just above the round number 0.89000, as price may retrace to demand to collect unfilled orders deeper within this area.
  • The pending sell order (Green line) visible at the base of supply (0.90381-0.90033) just above the round number 0.90000 at 0.90063 still remains active. The first target has been hit at 0.89168, the second and final target is seen below at 0.88501.
  • No P.A confirmation sell orders (Red line) are seen in the current market environment.

usdchfh4

  • Areas to watch for buy orders: P.O: There are no pending buy orders seen in the current market environment. P.A.C: 0.88533 (SL: Dependent on approaching price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed) 0.89029 (SL: likely to be set at 0.88784 TP: Dependent on approaching price action after the level has been confirmed).
  • Areas to watch for sell orders: P.O: (Active – 1st target hit) 0.90063 (SL: 0.90412 TP: [1] 0.89168 [2] 0.88501) P.A.C: There are currently no P.A confirmation sell orders seen in the current market environment.
  • Most likely scenario: Price will likely see a reaction to the upside from demand at 0.88973-0.89168, with the buyers expected to run out of steam around the lower limit of the mini range above at 0.89643, sellers will likely show more interest then, and begin pushing price south past the demand area just mentioned.

 

XAU/USD (GOLD)

Daily TF.

Buyers have been on fire recently, daily supply at 1295.52-1285.52 has been consumed, the next fresh area of supply on this timeframe is seen above at 1331.13-1318.24.

xauusddaily

4hr TF.

With the volatility seen from the buyers recently, we have seen supply at 1293.47-1285.52 be consumed, thus ending our short trade set at 1284.53, which if managed correctly, one could have still come away with a nice profit.

The next fresh supply area seen on this timeframe is at 1314.49-1309.37, where we have just placed a pending sell order below at 1307.85.

Price will likely hit the supply area above at 1314.49-1309.37 before a break of demand is seen below at 1258.57-1265.27, as there is very little supply seen to the left that has not already been consumed seen with the arrows on the chart.

  • Pending buy orders (Green line) are seen above demand (1231.56-1237.57) at 1238.61 as pro money will in the future likely fake the minor support level at 1240.66 into demand below (levels above).
  • New pending buy orders (Green line) are seen just above demand (1258.57-1265.27) at 1268.91. We are permitted to set a pending buy order here as the buyers have consumed sellers within supply above at 1293.47-1285.52.
  • The P.A confirmation buy order (Red line) set just above demand (1258.57-1265.27) at 1266.00 has now been confirmed and a pending buy order is permitted to be set.
  • The pending sell order (Green line) set just below supply (1293.47-1285.52) at 1284.53 is now closed in profit (if it was managed correctly).
  • New pending sell orders (Green line) are seen just below supply (1314.49-1309.37) at 1307.85. A pending sell order was set here since recent price action indicates there may be unfilled sell orders remaining within this supply area as price has only touched the zone, it has yet to penetrate it.
  • No P.A confirmation sell orders (Red line) are seen in the current market environment.

xauusdh4

  • Areas to watch for buy orders: P.O: 1238.61 (SL: 1230.64 TP: Dependent on approaching price action) 1268.91 (SL: 1264.30 TP: Dependent on approaching price action) P.A.C: There are currently no P.A confirmation buy orders seen in the current market environment.
  • Areas to watch for sell orders: P.O: 1284.53 (Closed in profit) (SL: 1294.70 TP: [1] 1273.34 [2] 1266.00 [3] 1240.66) 1307.85 (SL: 1316.52 TP: Dependent on approaching price action)   P.A.C: There are currently no P.A confirmation sell orders seen in the current market environment.
  • Most likely scenario: Price will likely see a small retracement very soon, before advancing to supply at 1314.49-1309.37 as there is very little supply left above to stop price as most of it has been consumed by the 2 wicks (marked with arrows).