For the readers’ benefit:

Price action confirmation: Simplymeans 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:

4hr TF        

The higher-timeframe picture resembles the following:

  • Weekly TF: Price still remains relatively deep within weekly demand at 1.32940-1.34847, and at the time of writing there appears to be little interest seen from the buyers. A break below this area could force prices to test the weekly demand area at 1.31037-1.32262.
  • Daily TF: Buyers and sellers remain trapped for the time being between a daily level of interest below at 1.33559, and a daily decision-point area above at 1.34433-1.34202.

Price is really toying with our current long position at 1.33526, as price once again pushed higher hitting the round number 1.34, then dropped back down to the 4hr demand area at 1.33360-1.33619 where price remains trading for the moment.

Something interesting has been spotted with these current price movements, take a look at the green down trend line, yes, we know this highlights the fact that price is trending south, but it also represents what pro money’s likely intentions are for the future. Notice how every time a decline was seen, price then rallied back up to collect sell orders for yet another push to the downside, however clearing out the sell orders also clears the path north for any future buying which is highly likely at the moment, as let’s not forget, price is currently trading within a weekly demand area (levels above), so higher prices are naturally expected. For buying strength to be proved however, we need to see a break above the 4hr decision-point area at 1.34433-1.34305, as this will also mean the daily-decision-point area (levels above) has been consumed also, so we can then expect higher prices at least up to the next fresh supply areas on the respective timeframes (Daily: 1.34760-1.35265, 4hr: 1.34760-1.34943).

Pending/P.A confirmation orders:

  • The pending buy order (Green line) set within 4hr demand (1.33360-1.33619) at 1.33526 is now active, Our first take-profit level was hit at 1.34, so do keep an eye on our second and final take-profit level set at 1.34305.
  • 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 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.
  • No P.A confirmation sell orders (Red line) are seen in the current market environment.

EURUSD 4HR

Quick Recap:

Our pending buy order set at 1.33526 still remains active, we are still expecting higher prices from the 4hr demand area at 1.33360-1.33619 up to at least the 4hr decision-point area at 1.34433-1.34305, here’s why: sellers seem to have been cleared, take a look at the green down trend line, this likely represents supply consumption, and price is also trading within weekly demand at 1.32940-1.34847 at the moment.

  • Areas to watch for buy orders: P.O: 1.33526 (Active) (SL: 1.33280 TP: [1] 1.34 [2] 1.34305). P.A.C: No P.A confirmation buy orders are seen in the current market environment.
  • Areas to watch for sell orders: P.O: 1.34753 (SL: 1.35031 TP: Dependent on price approach). P.A.C: No P.A confirmation sell orders are seen in the current market environment.

 

GBP/USD:

4hr TF        

The higher-timeframe picture resembles the following:

  • Weekly TF: A break below the weekly demand area at 1.66917-1.67939 has been seen, clearly there is very strong selling pressure coming out of the weekly supply area at 1.76297-1.67702! Prices could now very well be forced to test the weekly demand area below at 1.64589-1.66339.
  • Daily TF: A positive daily close below the daily demand area at 1.67367-1.68440 has been seen, price is likely to test the daily demand area below at 1.65492-1.66044 (which is conveniently located within weekly demand at 1.64589-1.66339), as most of the demand/buyers to the immediate left appear to have already have likely been consumed by two prominent tails/spikes (1.66559/1.66978).

At the time of writing we have seen what appears to be price retesting the round number 1.67 after the recent break south. Our P.A confirmation sell order set at 1.66961 has more or less been triggered, ideally we want to see the sellers push prices below the low marked with a green flag at 1.66563 (as per below in the orders section), only then will we consider setting a pending sell order.

As mentioned yesterday, both weekly and daily demand areas (see above for levels) have been consumed, meaning it is likely we may see more selling to the downside relatively soon on those timeframes. What we see on the 4hr timeframe, below the round number 1.67 is a nice-looking fresh 4hr demand area at 1.65492-1.65809 (beautifully located within daily demand at 1.65492-1.66044), and very little in between here to stop price reaching it! So for us on this pair it is certainly a waiting game for now.

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.
  • No pending sell orders (Green line) are seen in the current market environment.
  • The P.A confirmation sell order (Red line) set just below the round number 1.67 at 1.66961 is now active.  The sellers must confirm this round number level by consuming some or most of the buyers around the low marked with a green flag at 1.66563, only then will we be permitted to set a pending sell order in the market.
  • P.A confirmation sell orders (Red line) are seen just below the 4hr D/S flip area (1.67389-1.67561) at 1.67327. A P.A confirmation sell order was used here because there is no logical area for a stop-loss order on the 4hr timeframe at least.

GBPUSD 4HR

Quick Recap:

A retest of the round number 1.67 appears to have happened (our P.A confirmation sell order has been triggered at 1.66961); price will need to drop below the low 1.66563 for us to be confident that prices are likely clear down to the next area of interest which is in our opinion around the 4hr demand area at 1.65492-1.65809.

  • Areas to watch for buy orders: P.O: No pending buy orders are seen in the current market environment.  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: 1.67327 (SL: Dependent on price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed) 1.66961 (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:

4hr TF        

The higher-timeframe picture resembles the following:

  • Weekly TF: Price is still seen in a consolidation with the upper limits at 0.94600 and the lower around the 0.92046 area. The sellers have recently pushed price south, as a result price is now trading around the aforementioned lower limits, could we see a close below? Things would get interesting then, as this could likely force a push down to around the weekly support level at 0.89134.
  • Daily TF: A beautiful to-the-pip reaction happened around daily demand at 0.92046-0.92354 with price now seen rallying higher. This is a very important area, one which if a positive daily close below is seen would effectively mean price has broken out of the weekly consolidation area as well (for levels, see above), and lower prices would then be expected down to at least the daily R/S flip level below at 0.91323.The next trouble area supply for the buyers in our opinion is the daily decision-point level at 0.93529.

Some interesting developments have been seen on this pair. Our active long position at 0.92417 is still looking in very good shape. We initially placed a P.A confirmation buy order just above the round number 0.93 at 0.93021, the order was triggered in, but price traded very deep past the aforementioned round number level to a minor 4hr R/S flip level below at 0.92815. Taking all of this into consideration, and with the buyers appearing to consume most of the sellers around the high marked with a circle at 0.93185 likely clearing the path north, we are going to place a pending buy order just above the aforementioned minor 4hr R/S flip level at 0.92857 as there is very likely some unfilled buy orders still sitting there.

We see very little that would stop price rallying and reaching our third and final take-profit level at 0.93728 (from the long position at 0.92417), other than the level marked with a green flag at 0.93529 which will be watched closely if price reaches this high.

 

Pending/P.A confirmation orders:

  • The pending buy order (Green line) set just above the 4hr decision-point level (0.92384) at 0.92417 is now active. Our second take-profit level has recently been hit at 0.93, so do keep an eye out for our third and final take-profit level set at 0.93728.
  • New pending buy orders (Green line) are seen just above a minor 4hr R/S flip level (0.92815) at 0.92857. The reasoning behind setting a pending buy order here is simply because the buyers pushed off nicely from this level, and consumed what appears to be most of the sellers around the high marked with a circle at 0.93185 possibly clearing the path north, so if price does indeed return to this area, a first-time reaction is very much expected.
  • No P.A confirmation buy orders (Red line) are seen in the current environment.
  • 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:

A push higher has indeed been seen, however price spiked relatively deep through the round number 0.93 to do so. On a positive note, regarding the push higher, the buyers used a minor 4hr R/S flip level just below at 0.92815, which has given us the opportunity to place a pending buy order just above at 0.92857, as the buyers have already confirmed this level buy pushing prices above the high marked with a circle at 0.93185.

  • Areas to watch for buy orders: P.O: 0.92417 (Active) (SL: 0.92228 TP: [1] 0.92815 [2] 0.93 [3] 0.93728) 0.92857 (SL: 0.92700 TP: Dependent on how price approaches the area).  P.A.C: No P.A confirmation buy orders seen in the current market environment.
  • 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:

4hr TF        

The higher-timeframe picture resembles the following:

  • Weekly TF: Current trading action is taking place just above a weekly R/S flip level at 101.206, if buying is seen here; the first trouble area we see is around the weekly supply area above at 105.432-104.065.
  • 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 due to pro money liquidity requirements (not enough sellers to buy into) before this area gets hit. The area of daily demand below at 100.747-100.967 has caught our eye, which is beautifully located just under the weekly R/S flip level (levels above). This daily demand area could help facilitate a nice fakeout of the weekly R/S flip level that will no doubt stop millions of traders out in the process, giving pro money the liquidity they require for higher prices up to daily supply at 104.104-103.802

Technically not much has changed on this pair for the time being, we was hoping to see a push up to the 4hr decision-point level at 102.922, or at the very least hit the 4hr supply level marked with a green flag at 102.738. not to worry, here is a quick reminder of the last analysis concerning this pair, since it still remains valid:

A break was seen above the 4hr decision-point area at 102.430-102.230, this should not really come as any surprise since we are trading around a weekly R/S flip level at 101.206 and essentially proves buying strength from this weekly level.

Price is relatively free to trade up to the 4hr decision-point level at 102.922, the only level of supply we are concerned about for the moment is 102.738 (marked with a green flag), there may well be active sell orders sitting there, so if price reaches this far, we will be watching this level very closely. Now the path has potentially been cleared a little way to the north, a reversal may be seen as pro money may not have the required liquidity to push prices up that far, so a push down to the round number 102 could be seen before much higher prices are.

Pending/P.A confirmation orders:

  • Pending buy orders (Green line) are seen just above the 4hr demand area (101.187-101.276) at 101.282. A pending buy order has been placed here simply because we are trading relatively close to daily demand at 100.747-100.967 and also this 4hr area remains fresh and untouched for the time being.
  • Pending buy orders (Green line) are seen just above the 4hr demand area (101.306-101.365) at 101.375. A pending buy order has been placed here simply because we are trading relatively close to daily demand at 100.747-100.967 and also this 4hr area remains fresh and untouched for the time being.
  • P.A confirmation buy orders (Red line) are seen just above the round number 102 at 102.027. The reason behind setting a P.A confirmation buy order here, and not a pending buy order is simply because as explained many times over, these round number levels are sometimes subject to deep test/spikes, which consequently stops out countless traders, we do not want to be one of them, hence the need for confirmation here.
  • No pending sell orders (Green line) are seen in the current market environment.
  • P.A confirmation sell orders (Red line) are seen just below a 4hr decision-point level (102.922) at 102.900. The reason for setting a P.A confirmation sell order here is simply because price has already tested this area, meaning that supply could have already been consumed, hence the need to wait for confirmation.

USDJPY 4HR

Quick Recap:

Much the same as the last analysis, unfortunately price movement was quite quiet for this pair:

A break above the 4hr decision-point area at 102.430-102.230 has been seen, the path is now likely clear up to the 4hr decision-point level at 102.922, albeit a small road bump supply in between at 102.738 (marked with a green flag). Before higher prices are seen, we do expect a reversal back down to around to at least the round number 102 since pro money may not have the required liquidity to push prices higher.

  • Areas to watch for buy orders: P.O: 101.282 (SL: 101.158 TP: Dependent on price approach) 101.375 (SL: 101.158 TP: Dependent on price approach). P.A.C: 102.027 (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 are seen in the current market environment.  P.A.C: 102.900 (SL: Dependent on price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed).

 

EUR/GBP:

4hr TF.

The higher-timeframe picture resembles the following:

  • Weekly TF: A push higher into the weekly decision-point area at 0.80328-0.79780 has been seen, with the sellers showing very little interest at the moment. A close above here would likely clear the path north to around a weekly supply area at 0.81397-0.80805.
  • Daily TF: The spike down (0.79165) to daily demand at 0.78862-0.79206 sent price right up to the daily supply area at 0.80328-0.80024, where sellers are beginning to show a little interest at the moment.

So far, price did as expected; we have seen a fakeout above both the ‘dummy’ supply area in pink at 0.79964-0.79905, and the round number 0.8 straight into the 4hr supply area at 0.80264-0.80133.

From the aforementioned 4hr supply area, the sellers brought price down to the round number 0.8, which was our first take-profit level. Following a touch of the round number, which would make a nice entry long as a retest, price is currently seen pushing higher into the 4hr supply area. Ideally what we want to see is price close below the round number, we then see very little to the left stopping price from reaching our second target around the 4hr S/D flip area (0.79792-0.79689) at 0.79803, which is not too much to ask considering price is now trading within both a weekly decision-point area at 0.80328-0.79780, and a daily supply area at 0.80328-0.80024.

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. This 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.
  • No P.A confirmation buy orders (Red line) are seen in the current market environment.
  • The pending sell order (Green line) set just below the 4hr supply area (0.80264-0.80133) at 0.80110 is now active. Our first take-profit level has been hit already at 0.8, so do keep an eye on our second take-profit target set below at 0.79803.
  • No P.A confirmation sell orders (Red line) are seen in the current market environment.

EURGBP 4HR

Quick Recap:

Our pending sell order set just below the 4hr supply area (0.80264-0.80133) at 0.80110 has been filled. Our first take-profit level has been hit at the round number below at 0.8 already. Ideally what we want to see is a push down below the round number, this will likely clear the path down to our second target at 0.79803, it could still be possible since price is now trading within both a weekly decision-point area at 0.80328-0.79780, and a daily supply area at 0.80328-0.80024.

  • Areas to watch for buy orders: P.O: 0.78641 (SL: 0.78288 TP: Dependent on how price approaches) 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 (Active) (SL: 0.80295 TP: [1] 0.8 [2] 0.79803… May be subject to change) P.A.C: No P.A confirmation sell orders are seen in the current market environment.

 

USD/CAD:

4hr TF.

The higher-timeframe picture resembles the following:

  • Weekly TF: A big close above the monster weekly supply area at 1.09592-1.08133 has recently been seen, likely clearing the path north towards weekly supply at 1.10522-1.09996. However at the moment, we are seeing some nice selling pressure back into the aforementioned weekly supply area, we see very little on this timeframe stopping price declining all the way down to weekly demand at 1.05715-1.07008.
  • Daily TF: Buyers and sellers on this timeframe have been having a mini tug of war around daily supply at 1.09592-1.09156. Price was pushed north, then south, then once again north, when will this end? The path north up to daily supply at 1.10522-1.10133 appears to be relatively free of any major obstacles, so we shall be watching for a push north sometime soon, as this area is also neatly located around a small weekly supply area at 1.10522-1.09996.

The sellers have well and truly consumed the 4hr demand area at 1.09032-1.09104, which has stopped our current long position at1.09136, we are not too fussed about this though, as we locked some profit in at the first take-profit level set at 1.09686.

Be prepared for price to drop relatively easy now, as to the left marked with a green trend line represents possible demand consumption, notice how the tails were sent down as price rallied higher, this is likely pro money consuming buy orders to push prices higher, but at the same time clearing the path south!

We are now watching the 4hr demand area at 1.08441-1.08650 as this is where the next fresh buy orders are likely sitting, our pending buy order is set within at 1.08544, the reason why we have set the buy order within is simply because we have chosen the base of the candle where the decision was made to break out north.

Pending/P.A confirmation orders:

  • The pending buy order (Green line) set just above 4hr demand (1.09032-1.09104) at 1.09136 has been stopped out with a little profit locked in.
  • New pending buy orders (Green line) are seen just above a 4hr demand area (1.08441-1.08650) at 1.08544. The reason we have set a pending buy order here is because the overall trend seems to be up, and this area remains fresh likely indicating unfilled buy orders are sitting 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 4hr supply (1.10388-1.10163) at 1.10133. A pending sell order has been set here simply because we expect the round number below at 1.1 to be faked above towards this area, hence a first-touch reaction is expected, since pro money will likely be selling to all those fader traders with their stops just above the round number, and this could very well push prices higher above the round number level right into the aforementioned 4hr supply area.
  • No P.A confirmation sell orders (Red line) are seen in the current market environment.

USDCAD 4HR

Quick Recap:

Since our buy order at 1.09136 has been stopped out as price broke below the 4hr demand area at 1.09032-1.09104, our attention has turned to the 4hr demand area below at 1.08441-1.08650 (a pending buy order is set above at 1.08544) since this is the next fresh area price will likely visit next.

  • Areas to watch for buy orders: P.O: 1.08544 SL: 1.08365 TP: Dependent on how price approaches). P.A.C:No P.A confirmation buy orders seen within the current market environment.
  • Areas to watch for sell orders: P.O: 1.10113 (SL: 1.10411 TP: Dependent on how price approaches) P.A.C: No P.A confirmation sell orders seen within the current market environment.

 

USD/CHF:

4hr TF.

The higher-timeframe picture resembles the following:

  • Weekly TF: Price still remains trading around the weekly decision-point level at 0.90927, and at the time of writing, no attempt to break above has been seen, instead, a little selling interest is now being seen.
  • Daily TF: Price action is currently confined within a range (Daily supply: 0.91556-0.90985 Daily S/D flip area at 0.90372-0.90042) with price now trading around the lower limits of this consolidation.

A nice drop in price was seen down to the 4hr demand area at 0.90396-0.90516, this is no surprise really since the EUR/USD had some nice moving price action north, you can near enough guarantee the opposite will be happening on this pair!

We have now changed our P.A confirmation sell order originally set at 0.90960 to a pending sell order set at 0.90975 below the round number 0.91, as the sellers seem to have consumed most of the buyers around the low marked with a green flag at 0.90553.Price could do one of two things from here:

  1. Rally price from this overused 4hr demand area at 0.90396-0.90516 back up to the round number 0.91, or even the 4hr supply area at 0.91329-0.91141, and then continue on south down to the 4hr decision-point level at 0.90215.
  2. Price could drop through the aforementioned overused 4hr demand area towards the 4hr decision-point level at 0.90215, which would likely fill our pending buy order sitting just above at 0.90233, and then rally up to the round number 0.91, or even the 4hr supply area at 0.91329-0.91141, where once again we expect there to be a sell off here.

Let’s also not forget why we expect a sell off here, take a look on the weekly timeframe price is currently trading just below a weekly decision-point level at 0.90927.

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 (what was at the time) 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.
  • P.A confirmation sell orders (Red line) are seen just below 4hr supply (0.91329-0.91141) at 0.91112. The reasoning behind setting a P.A confirmation sell order here is  because price has already visited this area once already, this likely means some of the sellers have already been consumed, so a push higher may well be seen into the 4hr supply area, or even a break above, hence the need for confirmation here.
  • New pending sell orders (Green line) are seen just below the round number 0.91 at 0.90975. Our reasoning behind setting a pending sell order here is because the sellers previously consumed most of the buyers around the low marked with a green flag at 0.90553, likely indicating the path south is clear, thus we have now placed a pending sell order awaiting a possible return.

USDCHF 4HR

Quick Recap:

Price can do one of two things from here: 1, Rally price from this overused 4hr demand area at 0.90396-0.90516 back up to the round number 0.91, or even the 4hr supply area at 0.91329-0.91141, and then continue on south down to the 4hr decision-point level at 0.90215, 2, Price could drop through the aforementioned overused 4hr demand area towards the 4hr decision-point level at 0.90215, which would likely fill our pending buy order sitting just above at 0.90233, and then rally up to the round number 0.91, or even the 4hr supply area at 0.91329-0.91141, where once again we expect there to be a sell off here since price is now trading around a weekly decision-point level at 0.90927.

  • 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: 0.90975 (SL: 0.91355 TP: Dependent on how price approaches) P.A.C: 0.91112 (SL: Dependent on price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed).

 

XAU/USD:

4hr TF.

The higher-timeframe picture resembles the following:

  • Weekly TF: Price still remains trading between the weekly supply area above at 1391.97-1328.04 and a nice-looking daily decision-point level below at 1244.04; however, trading action is currently taking place nearer the weekly supply area for the time being.
  • Daily TF: The rebound from the daily decision-point level at 1318.96 has been held up by a minor daily R/S flip level at 1307.13 resulting in price being pushed back up to the aforementioned daily decision-point level.

Price has been trading within a small range now since 7/8/14 (4hr S/R flip level at 1304.77, and the 4hr R/S flip level at 1323.04), with no signs of a break at either of the aforementioned areas yet..

Our P.A confirmation buy order (1305.63) set just above the 4hr S/R flip level at 1304.77 has now been triggered. Ideally, we are looking for the buyers to consume most of the sellers around the high marked with a green flag at 1317.79 for us to even begin considering setting a pending buy order. We have to be extra cautious here as gold can be volatile at times, and a break of this range could happen at any time!

If a positive close below the 4hr S/R flip level 1304.77 is seen, this will likely clear the path south down to around the 4hr S/D flip area at 1284.77-1280.53, conversely a positive close above the 4hr R/S flip level at 1323.04 will possibly clear the path north towards a weak-looking 4hr supply area at 1342.30-1335.74 which is located just within the aforementioned weekly supply area.

Pending/P.A confirmation orders:

  • Pending buy orders (Green line) are seen just above 4hr demand (1258.40-1264.53) at 1266.09.  The reason a pending buy order has been set here, is because this area in our opinion remains the overall origin of a big rally to the upside, likely meaning there are a lot of unfilled buy orders siting in and around this area.
  • Pending buy orders (Green line) are seen just above the 4hr S/D flip area (1284.77-1280.53) at 1285.71. We have set a pending buy order here since the buyers have proved this to be an area of interest (they traded above the high marked with a green flag at 1297.20), so for the time being we are now awaiting a return back to this area where our pending buy order will likely be filled in the process.
  • The P.A confirmation buy order (Red line) set just above the 4hr S/R flip level (1304.77) at 1305.63 is now active. To confirm this level, the buyers will need to consume most of the sellers around the high marked with a green flag at 1317.79, only then will we consider setting a pending buy order in its place.
  • No pending sell orders (Green line) are seen in the current market environment.
  • P.A confirmation sell orders (Red line) are seen just below the 4hr R/S flip level (1323.04) at 1321.55. We have set a P.A confirmation sell order here simply because price could easily break above this level, and head for the 4hr supply area at 1342.30-1335.74, hence the need to wait for confirmation here.

Gold 4hr

Quick Recap:

Our P.A confirmation buy order set just above the 4hr S/R flip level (1304.77) has now been triggered , we will only consider setting a pending buy order in its place if the buyers are seen to consume some or most of the sellers sitting around the high marked with a green flag (1317.79). Do bear in mind we are currently in a range (4hr S/R flip level at 1304.77, and the 4hr R/S flip level at 1323.04), and have been since the 7/8/14, so price could break out of here at any time!

  • Areas to watch for buy orders: P.O: 1266.09 (SL: 1256.40 TP: Dependent on price approach) 1285.71 (SL: 1278.53 (TP: Dependent on price approach). P.A.C: 1305.63 (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: 1321.55 (SL: Dependent on price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed).