For the readers’ benefit:

Price action confirmation: Simply means traders will likely wait for price action to confirm a level by consuming an 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:

Weekly TF

Over the last week, a beautiful-looking pin bar has formed within weekly demand at 1.32940-1.34847, as the market closed near its weekly highs at 1.34268. Does this mean buying will be seen this week? Not necessarily, some pin-bar enthusiasts would disagree (and they could well be right on this occasion), we however would rather look at the lower-timeframe price action to see where fresh buy orders likely lay that could essentially help facilitate a push higher.

EURUSD WEEKLY

Daily TF.

A small daily decision-point area at 1.34433-1.34202 was formed early last week, and as a result price is now capped between this area and a daily level of interest below at 1.33559. Friday saw a sterling effort from the buyers who pushed price up to the aforementioned daily decision-point area, which has likely filled most of the sell orders located there. A push above this area would be a healthy sign of buying strength from the weekly demand area mentioned above, likewise a reaction south would likely see a push back down to the daily level of interest, and break below this level could see prices plummeting much further south, but we will save this for when or if price completes this move.

EURUSD DAILY

4hr TF.

The last analysis stated that our medium-term bias was still short, and if we see a positive daily close below the daily level of interest at 1.33559 (see above), this will remain. However we cannot ignore what is forming right in front of our faces.

Price is now currently trading around a small 4hr decision-point area at 1.34433-1.34305, which is conveniently located within the daily decision-point area at 1.34433-1.34202.

So essentially, we are waiting for a decision to be made on this pair, a break above the aforementioned 4hr decision-point area, would likely mean a test of the 4hr D/S flip area at 1.34760-1.34943 would likely be seen (this area is also neatly located within a daily D/S flip area at 1.34760-1.35265), and also confirm buying strength from the higher-timeframe areas mentioned above. Conversely, a healthy bearish reaction seen here could push prices down to the round number 1.34, a break below there could very likely seal the deal for a move down to the aforementioned daily level of interest (see above), so do be on the lookout for this.

Pending/P.A confirmation orders:

  • No pending buy orders (Green line) are seen in the current market environment.
  • New P.A confirmation buy orders (Red line) are seen just above the round number1.34 at 1.34048.The reason for placing a P.A confirmation buy order here is simply because there is no logical area that is not too far away for a stop-loss order. A reaction could be seen here due to where price is presently located on the higher timeframes (Weekly demand: 1.32940-1.34847).
  • Pending sell orders (Green line) are seen just below the D/S flip area (1.34760-1.34943) at 1.34753.The reasoning behind setting a pending sell order here was because this is the area we believe on this timeframe pro money sellers made the decision to push prices south into (what was at the time) 4hr demand at 1.33984-1.34404, with the possibility of unfilled sell orders still waiting there.
  • The pending sell order (Green line) set just below a decision-point area (1.34428-1.34305) at 1.34266 is now active, so do keep an eye on our first take-profit level set at the round number 1.34.
  • No P.A confirmation sell orders (Red line) are seen in the current market environment.

EURUSD 4HR

Quick Recap:

A strong push has been seen past the round number 1.34 up to the 4hr decision-point area at 1.34433-1.34305 where our pending sell order set just below at 1.34266 has been filled. A decision needs to be made on this pair now, a break above this area would prove medium-term buying strength, and conversely a move to the downside could push prices back down to the daily area of interest at 1.33559, if price were to overcome the round number 1.34 first which is our first take-profit level.

  • Areas to watch for buy orders: P.O: No pending buy orders are seen in the current market environment. P.A.C: 1.34048 (SL: Dependent on 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: 1.34753 (SL: 1.35031 TP: Dependent on price approach) 1.34266 (Active) (SL: 1.34459 TP: [1] 1.34 [2] 1.33846). P.A.C: No P.A confirmation sell orders are seen in the current market environment.

 

GBP/USD:

Weekly TF.

A beautiful full-bodied bearish candle was seen last week within weekly supply at 1.76297-1.67702 which traded right into weekly demand at 1.69917-1.67939. If serious buying is seen here, and a push much higher is seen, this could indicate potential weakness within the weekly supply area. However, a break below the weekly demand area will likely indicate selling strength and we should then at least expect lower prices to around the weekly demand area at 1.64589-1.66339.

GBPUSD WEEKLY

Daily TF.

Late last week price was seen entering a daily demand area at 1.67367-1.68440 which is neatly located around the weekly demand area. If buying interest is seen from here, the first point of trouble we see is the daily R/S flip level at 1.68963. Conversely if we see a break below this area, this could indicate potential weakness from the weekly demand area (for levels, see above). So, it may be worth keeping a close eye on price action around here this week.

GBPUSD DAILY

4hr TF.

With the higher-timeframe picture still fresh in mind, let’s take a look at the 4hr timeframe. Buyers and sellers are currently seen battling it out within 4hr demand at 1.68013-1.68585, which we mustn’t forget is neatly located around the daily demand area at 1.67367-1.68440. Late on Friday last week, the sellers seem to have taken charge as before there was real indecision being seen in the market (spiking both north and south). A break below the aforementioned 4hr demand area and round number 1.68 could see prices trading deeper into higher-timeframe daily demand towards the 4hr demand area below at 1.67389-1.67561 where active buy orders are most likely sitting. However, if buying interest does come into the market early this week from where price is currently seen, the first sign of trouble for the buyers would naturally be the 4hr decision-point area above at 1.68919-1.68789, and a break above here and the round number 1.69 should indicate decent buying strength.

Pending/P.A confirmation orders:

  • The pending buy order (Green line) set just above the decision-point area (1.68013-1.68585) at 1.68631 is now active, so do keep an eye on our first take-profit level set at 1.69214.
  • New pending buy orders (Green line) are seen just above 4hr demand (1.67367-1.67561) at 1.67601. The reason for setting a pending buy order here is because if price reaches this far south, we are then located very deep within not only weekly demand at 1.69917-1.67939, but also daily demand at 1.67367-1.68440 making it very likely we will see some sort of a reaction north here.
  • No P.A confirmation buy orders (Red line) are seen in the current market environment.
  • Pending sell orders (Green line) are seen just below the decision-point area (1.69939-1.69663) at 1.69626. We have set a pending sell order here due this being the area pro money made the push below (what was at the time) 4hr demand at 1.69512-1.69708, so there may very well be unfilled sell orders left there.
  • New P.A confirmation sell orders (Red line) are seen just below a 4hr decision-point area (1.68919-1.68789) at 1.68747, our reasoning behind setting an order such as this here is simply because we are currently trading in and around higher-timeframe demand (Weekly: 1.66917-1.67939 Daily: 1.67367-1.68440) at the moment, essentially meaning price could blow straight through this 4hr area with relative ease.

GBPUSD 4HR

Quick Recap:

A push down into 4hr demand at 1.68013-1.68585 was seen, where indecision between both buyers and sellers was apparent (spikes seen in both directions). Price is now situated in and around higher-timeframe demand (Weekly: 1.66917-1.67939 Daily: 1.67367-1.68440), so higher prices should essentially be expected. However a break below this 4hr demand area would see prices likely drop to a 4hr demand area below at 1.67367-1.67561 which is very deep within the aforementioned higher-timeframe areas (see above for the levels).

  • Areas to watch for buy orders: P.O: 1.68631 (Active) (SL: 1.67932 TP: [1] 1.69214 [2] 1.69497) 1.67601 (SL: 1.67314 TP: Dependent on price approach). P.A.C: No P.A confirmation buy orders are seen in the current market environment.
  • Areas to watch for sell orders: P.O: 1.69626 (SL: 1.70063 TP: Dependent on price approach).  P.A.C: 1.68747 (SL: Dependent on price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed).

 

AUD/USD:

Weekly TF.

Price is still seen in a consolidation with the upper limits at 0.94600 and the lower around the 0.92046 area. Last week saw sellers becoming quite aggressive if we compare to the last three weekly candles. Could we see a drop down the lower limits of this consolidation area this week? Let’s take a look at the lower timeframes for a closer inspection.

AUDUSD WEEKLY

Daily TF.

A positive daily close below the 0.93208 level happened on Thursday, with price seen successfully retesting it as resistance on Friday. This break south was important as price had previously been ranging between the aforementioned daily low and daily supply above at 0.95425-0.94852 for a good few weeks. If the sellers react further to this retest, we may see a test of daily demand below at 0.92046-0.92354. A new daily supply area has come to light at 0.94729-0.94175, the reason for this is we have seen proof of selling strength on this timeframe from a breakout south of the range mentioned above, and the overall origin of this push down is at this daily supply area in our opinion.

AUDUSD DAILY

4hr TF.

To the end of last week, price action played out beautifully, a retest of the round number 0.93 (resistance at the time) was seen before we tested the 4hr decision-point area below at 0.92566-0.92736 as reported would likely happen in the last analysis.

Following this, the buyers pushed above the round number 0.93, retested it, and then traded up to the 4hr D/S flip area at 0.93208-0.93417 where selling interest was seen towards Friday’s close. Considering we have just broken south out of a daily range (see above for details) and successfully at the time of writing appear to have retested the lower edge as now resistance, lower prices could well be seen on the 4hr timeframe past the aforementioned 4hr decision-point area (as buying pressure may well be consumed here now) down to a 4hr level of interest at 0.92384 which is conveniently located just above dally demand at 0.92046-0.92354.

However, we should also consider the fact that the breakout of the daily range low (0.93208) could have well been a fakeout, and pro money has used the 4hr decision point area (levels above) to help facilitate this, and the way this will be proved correct, is if we see a push above the 4hr D/S flip area at 0.93208-0.93417 this week sometime.

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 the decision point level (0.92566-0.92736) at 0.92775 is now active, we want to see the buyers positively close price above the 4hr D/S flip area above at 0.93208-0.93417, this will show genuine strength and we will then strongly consider setting a pending buy order awaiting a possible return.
  • No pending sell orders (Green line) are seen in the current environment.
  • No P.A confirmation sell orders (Red line) are seen in the current market environment.

AUDUSD 4HR

Quick Recap:

Price has seen a reaction off of the 4hr decision-point area at 0.92566-0.92736 where our P.A confirmation buy order (0.92775) was triggered , and price pushed up to the 4hr D/S flip area at 0.93208-0.93417 where selling interest can currently be seen. If a close above the aforementioned 4hr D/S flip area happens, this will likely indicate buying strength which will be good for our recently triggered P.A confirmation buy order (level above), conversely a push to the downside could happen and prices could plummet past the aforementioned 4hr decision-point area to a level of interest just below at 0.92384.

  • Areas to watch for buy orders: P.O: No pending buy orders seen in the current market environment.  P.A.C: 0.92775 (Active-awaiting confirmation) (SL: Dependent on 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.

 

USD/JPY:

Weekly TF.

Last week saw the buyers pushing price north relatively hard in comparison to the last few weekly candles; nonetheless, selling pressure was seen as sellers pushed price down from the 103.082 area to where price closed the week at 102.554. Price still remains capped between a long-term weekly R/S flip level at 101.206, and weekly supply above at 105.432-104.065.

USDJPY WEEKLY

Daily TF.

The three spikes seen above the daily resistance level at 102.713 possibly consumed the majority of the sellers around this area, which likely cleared the path up to around daily supply at 104.104-103.802; however, price could see a sell off before this area gets hit.  Two areas of demand have caught our eye, the first being a near-term daily S/D flip area at 101.962-102.257, and the second, the dally demand area much lower at 100.747-100.967 before a stronger advance is seen, so do be prepared for this to possibly happen sometime soon.

USDJPY DAILY

4hr TF.

The sellers appeared slow at first around the 4hr supply area at 103.294-102.983 but eventually became very active during Friday’s sessions and pushed price below the 4hr S/D flip area at 102.584-102.505.

Taking into consideration the bigger picture for a moment (see above for details), a bearish reversal is expected before one can expect higher prices. Now, we can assume a lot of buyers got stopped out around the 4hr S/D flip area (levels above) with their stops being set just below, but would these sell orders (stops from traders attempting to go long) be enough liquidity for pro money to buy into? That is the big question, we believe doubtful, as price has not even touched the daily S/D flip area at 101.962-102.257 (see above on the daily timeframe analysis for details). With this in mind, we are seriously looking at the 4hr decision-point area lower down at 102.027-102.080 where the sharp burst of buying began, and as added confluence, this area is beautifully located around the daily S/D flip area just mentioned, so all in all, a fantastic area to keep an eye on during the week.

Pending/P.A confirmation orders:

  • Pending buy orders (Green line) are seen just above the decision-point level (102.027-102.080) at 102.100. We have set a pending buy order here since this remains the place on this timeframe where pro money likely made the decision to push price up so aggressively, which indicates the strong possibility that unfilled buy orders may still be present and active here.
  • No P.A confirmation buy orders (Red line) are seen in the current market environment.
  • The pending sell order (Green line) set just below supply (103.294-102.983) at 102.953 has now been closed in full profit due to our final take-profit level was hit late on Friday at 102.584.
  • No P.A confirmation sell orders (Red line) are seen in the current market environment.

USDJPY 4HR

Quick Recap:

A beautiful reaction has been seen off of the 4hr supply area at 103.294-102.983 pushing price down through the 4hr S/D flip area at 102.584-102.505. The most likely scenario In our opinion is that price will likely see a decline very early on in the week down to the 4hr decision-point area at 102.027-102.080 (where we currently have a pending buy order set at 102.100), as the daily timeframe analysis expects a reversal south before higher prices are seen, this seems the most logical area pro money would target for a move north, and not forgetting the important fact that this area is neatly located within a daily S/D flip area at 101.962-102.257.

  • Areas to watch for buy orders: P.O: 102.100 (SL: 101.971 TP: Dependent on price approach).P.A.C: No P.A confirmation buy orders are seen in the current market environment.
  • Areas to watch for sell orders: P.O: 102.953 (Closed in full profit) (SL: 103.317 TP: [1] 102.814 [2] 102.584) P.A.C: No P.A confirmation sell orders are seen in the current market environment.

 

EUR/GBP:

Weekly TF.

In our opinion, price has still yet to fully hit the weekly demand area at 0.79631-0.78623, however it appears from last week’s trading, pro money may have all the liquidity they require to begin a push up, as price has traded right into a minor weekly supply area at 0.80328-0.79780. We have seen pro money do this time and time again, they turn price just before an important area essentially creating a ‘dummy’ demand in this case, only to use this area later for liquidity to fake out below into a true area of weekly demand, so do be aware of this. If we see a positive close above the aforementioned minor weekly supply area, we will then re-evaluate as this indicates serious buying strength to us.

EURGBP WEEKLY

Daily TF.

Friday saw an awesome looking full-bodied bullish candle right from daily demand at 0.78862-0.79206 up to the daily S/R flip level at 0.79751. The daily supply area sitting just above is where we are going to be watching this week at 0.80328-0.80024 as this is very deep within the aforementioned minor weekly supply area. If we see a daily close above this area, it would likely indicate that a fakeout did occur below the daily demand area below at 0.78862-0.79206, and we could indeed be heading much higher from here, nonetheless, we expect a good fight to be put up by the sellers before a close above this area is seen!

EURGBP DAILY

4hr TF.

The selling interest seen around the 4hr S/R flip level quickly dried up as price shot up to 4hr supply at 0.79795-0.79684, and from what we can see has likely consumed most of the sellers with that spike/wick seen just above.

We may have just been given an early indication that higher prices are likely to be seen as the path is now possibly clear up to at least the big figure 0.8, or even 4hr supply above at 0.80264-0.80133 as this round number is begging to be faked past up to true 4hr supply just mentioned. All this means really is we are likely going to trade deeper into the minor weekly supply and hit daily supply within (see above for details).

However before this happens we should be prepared for a decline in value down to around a beautiful-looking 4hr decision-point area at 0.79240-0.79408 as pro money may not have the liquidity for a further push up, hence the need to drop price lower to entice sellers to join, and then begin buying into these sells are we drop down to the aforementioned 4hr decision-point area.

Pending/P.A confirmation orders:

  • Pending buy orders (Green line) are seen just above demand (0.78602-0.78320) at 0.78641. The reasoning behind setting a pending buy order here is due to its current location on the higher timeframes. Our 4hr demand area is just above daily demand at 0.78117-0.78533 and also just within the upper area of weekly demand at 0.76931-0.78623.
  • New pending buy orders (Green line) are seen just above a decision-point area (0.79240-0.79408) at 0.79427. The reasoning behind placing an order such as this here is because this is likely the area on the 4hr timeframe where pro money made the decision to shoot prices north so aggressively likely indicating unfilled buy orders are remaining.
  • No P.A confirmation buy orders (Red line) are seen in the current market environment.
  • New pending sell orders (Green line) are seen just below a supply area (0.80264-0.80133) at 0.80110 as this is very likely the area where price will be brought too, not to mention it is a perfect place to be faked out into past the round number 0.8.
  • The P.A confirmation sell order (Red line) set just below the 4hr S/R flip level at 0.79358 at 0.79293 has been removed as the sellers could not consume any buyers around the low 0.79134.

EURGBP 4HR

Quick Recap:

A push north has been seen up and slightly past the 4hr supply area at 0.79795-0.79684, the spike seen above this area has likely cleared supply, and we could now see higher prices up to at least the round number 0.8, and even the 4hr supply above at 0.80264-0.80133. However we should be prepared for a decline in value to around the 4hr decision-point area at 0.79240-0.79408 as pro money may not have the required liquidity for a push straight up to the aforementioned 4hr areas.

  • Areas to watch for buy orders: P.O: 0.78641 (SL: 0.78288 TP: Dependent on price approach) 0.79427 (SL: 0.79215 TP: Dependent on price approach). P.A.C: No P.A confirmation buy orders are seen in the current market environment.
  • Areas to watch for sell orders: P.O: 0.80110 (SL: 0.80295 TP: Dependent on price approach) P.A.C: No P.A confirmation sell orders are seen in the current market environment.

 

USD/CAD:

Weekly TF.

Last week saw a strong push up from the buyers deep into weekly supply at 1.09592-1.08133. Price still remains capped between the aforementioned weekly supply area and weekly demand below at 1.05715-1.07008. If we see a break of the weekly supply area, things will start to get very interesting as we believe the profit potential to the upside is huge.

USDCAD WEEKLY

Daily TF.

For the past two days or so, price has been trading in and round a nice-looking daily supply area at 1.09592-1.09156, we are expecting lower prices from here as we are also very deep within a weekly supply area just mentioned above, if however a break higher is seen, prices could likely be forced to test the oncoming daily supply area at 1.10522-1.10133, but for the time being, price remains capped between the daily supply area at 1.09592-1.09156 and a daily S/R flip level at 1.08277.

USDCAD DAILY

4hr TF.

As reported in the last analysis, the 4hr decision-point area at 1.09470-1.09354 likely had active sellers waiting. A reaction was indeed seen, and the sellers pushed price down to the round number 1.09.

Considering we are now trading around not only weekly supply, but also daily supply as well (see above for levels), we expect to see lower prices from here down to at least the 4hr R/S flip level at 1.08696, and with some effort, a push down to the 4hr S/D flip area at 1.08250-1.08123. Once the market opens we will be watching price action very carefully in between the round number 1.09 and the 4hr decision-point area at 1.09470-1.09354 for any sings that price wants to trade higher.

Pending/P.A confirmation orders:

  • No pending buy orders (Green line) are seen in the current market environment.
  • No P.A confirmation buy orders (Red line) are seen in the current market environment.
  • The pending sell order (Green line) set just below a decision-point area (1.09470-1.09354) at 1.09314 is now active, our first take-profit level has been hit already at 1.09, so do keep an eye on our second take-profit level set at 1.08696.
  • No P.A confirmation sell orders (Red line) are seen in the current market environment.

USDCAD 4HR

Quick Recap:

A nice bearish reaction has been seen around the base of the 4hr decision-point area at 1.09470-1.09354 (our pending sell order at 1.09314 was filled nicely in the process), which has pushed price down to the round number 1.09. We are still expecting lower prices here as price is trading around some heavy higher-timeframe supply (Weekly: 1.09592-1.08133 Daily: 1.09592-1.09516) down to at least the 4hr R/S flip level at 1.08696 and beyond.

  • Areas to watch for buy orders: P.O: No pending buy orders seen within the current market environment. P.A.C: No P.A confirmation buy orders seen within the current market environment.
  • Areas to watch for sell orders: P.O: 1.09314 (Active) (SL: 1.09527 TP: [1] 1.09 [2] 1.08696 [3] 1.08250). P.A.C: No P.A confirmation sell orders seen within the current market environment.

 

USD/CHF:

Weekly TF.

Last week, a small bearish pin-bar candle had formed from around the weekly decision-point level at 0.90927, does this really mean lower prices will be seen this week? Let’s take a look lower down to see what price action is telling us.

USDCHF WEEKLY

Daily TF.

A healthy-looking push down from daily supply at 0.91556-0.90985 was seen down to the daily S/D flip area at 0.90372-0.90042. If we saw a break south of this level, this would likely indicate lower prices would eventually be seen, but as we can all see this did not happen. For the time being, on this timeframe we are going to wait for a break of either of the aforementioned areas, this will give us a good indication of where price is likely headed on this timeframe.

USDCHF DAILY

4hr TF.

The round number 0.91 proved to be an awesome level to go short at, we were expecting price to reach the 4hr supply area at 0.91329-0.91141 just above, but unfortunately this was not seen. A push down to the 4hr S/D flip area at 0.90372-0.90148 happened on Friday, and this gives us very little information as to whether the weekly pin bar is a genuine one or not, as all we can see is price has traded directly in an area of demand (levels above).

This week we will be watching two levels on this pair (0.90215…..0.91329-0.91141), for a reaction or a break, a break would give us a short-term an indication as to where prices will likely move to, so for instance, if we see a convincing break below the 4hr decision point level at 0.90215, the weekly pin-pin is likely genuine, and we emphasize the word genuine here,  we can then expect lower prices to be seen in the next week or so to around the round number 0.9, or with some effort, a push down to a 4hr decision-point area at 0.89540-0.89614.

Something else we see that is interesting on this chart, the round number 0.91 has likely been consumed of supply, so the path is likely clear up to the aforementioned 4hr supply area. If price does trade back up to this round number, expect a fakeout above it to 4hr supply, as there will be millions of traders attempting to short the round number with their stops directly located just below the 4hr supply area!!! These stops will then be buy order once triggered, which pro money will no doubt sell hard into bringing price south once again.

Pending/P.A confirmation orders:

  • Pending buy orders (Green line) are seen just above the decision-point level (0.90215) at 0.90233. The reasoning behind placing a pending buy order here is simply because this is the area on the 4hr timeframe where pro money buyers likely made the decision to break above the 4hr supply area at 0.90372-0.90148, hence the possibility there may still be unfilled buy orders lurking around this level.
  • No P.A confirmation buy orders (Red line) are seen in the current market environment.
  • Pending sell orders (Green line) are seen just below the 4hr supply area (0.91329-0.91141) at 0.91113. The reason we have placed an order such as this is due its higher-timeframe location (Daily supply 0.91156-0.90985).
  • No P.A confirmation sell orders (Red line) are seen in the current market environment.

USDCHF 4HR

Quick Recap:

Price reacted beautifully off of the round number 0.91, which means our pending sell order set just below 4hr supply (0.91329-0.91141) at 0.91113 was not filled. Overall, we are going to be watching two 4hr areas (0.90215…..0.91329-0.91141)  for a reaction or a break this week which will likely give us a heads up as to where price is headed next on the 4hr timeframe.

  • Areas to watch for buy orders: P.O: 0.90233 (SL: 0.90117 TP: Dependent on price approach). P.A.C: No P.A confirmation buy orders seen in the current market environment.
  • Areas to watch for sell orders: P.O: 0.91113 (SL: 0.91359 TP: Dependent on price approach). P.A.C No P.A confirmation sell orders seen in the current market environment.

 

XAU/USD (GOLD)

Weekly TF.

Price still remains capped between weekly supply at 1391.97-1328.04 and a nice-looking weekly decision-point level below at 1244.08. Last week, the sellers appeared in control, which should be the case really, as price has just recently traded out of the aforementioned weekly supply area.

GOLD WEEKLY

Daily TF.

A close below the daily ignored decision-point level at 1292.52 was seen on Thursday, and price came within a few pips of touching a major daily S/R flip level below at 1277.36 before rallying north where a retest of the ignored daily decision-point level was seen (level above). Price for the time being remains capped between both of the areas just mentioned above, if we see a positive close above or below either of them, we will then have more of an indication as to where price is likely headed next.

GOLD DAILY

4hr TF.

Price has reacted beautifully out of the 4hr S/D flip area at 1284.77-1280.53 making a high of 1296.91. Unfortunately price did not trade above the high marked with a green flag yet at 1297.20, as this would likely indicate higher prices were to be seen, as the sellers would possibly be consumed. So, if we push higher, a pending buy order will be set in place of the current P.A confirmation buy order (1285.71), if we push lower below the aforementioned 4hr S/D flip area, we will then be watching the 4hr demand area at 1258.40-1264.53.

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 the S/D flip area (1284.77-1280.53) at 1285.71 is now active, the buyers will need to prove this area by consuming some or most of the sellers around the high marked with a green flag at 1297.20, a pending buy order will then be set awaiting a possible return.
  • 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.

GOLD 4HR

Quick Recap:

Price has reacted beautifully out of a 4hr S/D flip area at 1284.77-1280.53, but has yet to push above the high marked with a green flag at 1297.20, so no pending buy order can be set yet. For this pair, we have very little choice but to wait to see how price action unfolds, if we push higher, a pending buy order will be set in place of the P.A confirmation buy order (1285.71), if we push lower below the aforementioned 4hr S/D flip area, we will then be watching the 4hr demand area at 1258.40-1264.53.

  • Areas to watch for buy orders: P.O: No pending buy orders seen in the current market environment.  P.A.C: 1285.71 (Active-awaiting confirmation) (SL: Dependent on 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.