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:

Weekly TF.

Last week saw the sellers positively close below the weekly demand area at 1.32940-1.34847, and is now being seen testing the weekly demand area at 1.31037-1.32262. We could be seeing higher prices from here this week; however, we have to be prepared for the possibility of a deeper test within the aforementioned weekly demand area first. Let’s take a look at the lower timeframes to see what’s inside this weekly demand area.

EURUSD WEEKLY

Daily TF.

Here on the daily timeframe price still remains trading between the daily S/R flip level at 1.33559 and the daily demand area below at 1.31037-1.31755. To the left of current price action, we see very little that will likely cause a problem to price from dropping deeper into the weekly demand (levels above) towards the aforementioned daily demand area. So, with the above in mind, according to this time frame we could yet see a decline in value deeper into the weekly demand area before higher prices are indeed seen.

EURUSD DAILY

4hr TF.

The buyers did indeed make an attempt to trade to the round number 1.33, but failed, making a high of 1.32955, and this is the point sellers regained control and pushed prices south. The buyers around low marked with an arrow at 1.32409 have more than likely been stopped out i.e. consumed, and the next area of interest (the round number 1.32) has yet to be hit.

Considering the next area of interest has yet to be hit, we may have a trade opportunity on our hands. If price does rally back up to the round number 1.33 early this week, before hitting the round number 1.32 below, there is a very good chance we could see active sellers around the 1.32883 area that may push prices down to the round number 1.32.

Let’s just assume this does happen, this would mean we have seen lower prices into the aforementioned weekly demand area, nonetheless, how much deeper can price go before higher prices are seen?

Just below the round number 1.32, there is a neat-looking 4hr demand area at 1.31559-1.31879 (if price reaches here, we are now trading deep within the weekly, and daily demand areas – levels above), think for a moment how many stops are going to be around this round number, there will be an unimaginable amount! So, if pro money decide to fake this level into the aforementioned 4hr demand area, this will likely give pro money the liquidity (in this case sell orders for their buys) to push prices higher. However, say there are not a lot of stops around this level, well not enough to give pro money the required amount of liquidity, we could then very well see a push down to the next 4hr demand area below at 1.31037-1.31278 (very deep within the aforementioned higher-timeframe demand areas).

Taking into consideration all of the above, we believe if a  bearish reaction is seen around the round number 1.33 level, price will likely be trading deeper into weekly demand (levels above), however, if we see a push above the round number level, we will then be considering looking for longs.

Pending orders/P.A confirmation levels:

  • No pending buy orders (Green line) are seen in the current market environment.
  • No P.A confirmation buy levels (Red line) are seen in the current market environment.
  • New pending sell orders (Green line) are seen just below the round number 1.33 at 1.32883. The reason we have placed a pending sell order here, is simply because the sellers seemed to have proved this area (which was a requirement at the time) by consuming the low marked with an arrow at 1.32409, indicating the path south is likely clear down to at least the round number 1.32.
  • The P.A confirmation sell level (Red line) set just below the 4hr decision-point level (1.32758) at 1.32731 has been removed since price traded too far above the entry level for the time being.
  • P.A confirmation sell levels (Red line) are seen just below the 4hr D/S flip area (1.33360-1.33619) at 1.33322. The reasoning behind setting a P.A confirmation sell level here and not a pending sell order is because we have no logical area for a stop-loss order meaning price could push straight through this area.

EURUSD 4HR

Quick Recap:

The round number 1.33 will be watched closely during the early parts of this week for a bearish reaction to be seen (pending sell order set just below at 1.32883). If a reaction is indeed seen, we can likely expect prices to trade down to either of the following levels: the round number 1.32, 4hr demand just below at 1.31559-1.31879, or even the extreme 4hr demand below this one (very deep at this point within weekly demand at 1.32940-1.34847, and daily demand at 1.31037-1.31755) at 1.31037-1.31278.

  • 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 levels are seen in the current market environment.
  • Areas to watch for sell orders: P.O: 1.32883 (SL: 1.33217 TP: Dependent on how price approaches) P.A.C: 1.33322 (SL: Dependent on price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed).

 

GBP/USD:

Weekly TF.

There is clear selling pressure from the major weekly supply area at 1.76297-1.67702, as price has smashed through the weekly demand area at 1.66917-1.67939 with little trouble, and is now currently seen trading quite deep within the weekly demand area below at 1.64589-1.66339. Is there any chance higher prices will be seen from this weekly demand area?

GBPUSD WEEKLY

Daily TF. 

The buyers around the daily demand area at 1.65492-1.66044 seem to be in a lot of trouble, as price is seen trading very deep within this area, with little to no interest being seen by the buyers at the moment. A break below this area could very well force prices down to the daily demand area at 1.64589-1.64949 (located very deep within the aforementioned weekly demand area). So, at the time of writing it appears price will likely see more of decline before any higher prices are seen according to the daily timeframe.

GBPUSD DAILY

4hr TF. 

Here on the 4hr timeframe we are getting a magnified view of what is going on in the aforementioned daily demand area. The 4hr demand area at 1.65492-1.65809 is seeing a pitiful reaction from the buyers, where the round number 1.66 seems to be stopping any attempt at higher prices, so things are not looking very positive at the moment for higher prices out of the weekly demand area.

A break below this 4hr demand area will likely see price dropping down to a 4hr decision-point level at 1.64895 which is located deep within weekly demand at 1.64589-1.66339, and also within a small daily demand area at 1.64589-1.64949.

Pending orders/P.A confirmation levels:

  • The pending buy order (Green line) are set just above 4hr demand (1.65492-1.65809) at 1.65878 is now active, so do keep an eye on our first take-profit level set at 1.66563.
  • No P.A confirmation buy levels (Red line) are seen in the current market environment.
  • Pending sell orders (Green line) are seen just below the 4hr D/S flip area (1.67389-1.67561) at 1.67327. We have set a pending sell order here because (which was a requirement at the time) the sellers proved this area by consuming the low below at 1.66757.
  • No P.A confirmation sell levels (Red line) are seen in the current market environment.

GBPUSD 4HR

Quick Recap:

Our pending buy order set just above the 4hr demand area (1.65492-1.65809) at 1.65878 still remains active, for how long is hard to tell though as the buyers are not exactly displaying much interest around this 4hr demand area at the moment. If a break below happens, we will likely see price dropping down to a 4hr decision-point level at 1.64895 which is located deep within weekly demand at 1.64589-1.66339, and also within a small daily demand area at 1.64589-1.64949.

  • Areas to watch for buy orders: P.O: 1.65878 (Active) SL: 1.65357 TP: [1] 1.66568 [New targets may be added depending on price development]).  P.A.C: No P.A confirmation buy levels are seen in the current market environment.
  • Areas to watch for sell orders: P.O: 1.67327 (SL: 1.67621 TP: Dependent on how price approaches) P.A.C: No P.A confirmation sell levels are seen in the current market environment.

 

AUD/USD:

Weekly TF.

Price is still frustratingly trading within a weekly consolidation area with the upper limits seen at 0.94600, and the lower at 0.92046, with no signs of a break happening just yet.

AUDUSD WEEKLY

Daily TF.

Price still remains caught trading between the daily demand area 0.92046-0.92354, and a daily decision-point level at 0.93529. A break above could see prices test daily supply at 0.94729-0.94175, conversely, a break below will likely see a push south towards a daily R/S flip level at 0.91323. Let’s also not forget, if a break below is indeed seen, this would effectively mean that price has broken below the weekly consolidation area (levels above) as well.

AUDUSD DAILY

4hr TF.

Our pending buy order set just above the 4hr decision-point level (0.92384) at 0.92417 is still active, we were fortunate price did not spike deeper below this level as this would have likely stopped us out on its second visit. From here price rallied hard breaking the round number 0.93, and retesting it late Friday.

Ideally, what we’re watching for here is price to break above the supply area (0.93275) marked with a green arrow, as this will be likely all price needs to do in order to clear the path north up to our third and final take-profit level at 0.93728. The reasoning behind this is we believe the supply area marked with the green flag at around the 0.93465 area was partially consumed by the spike/wick that formed the supply area (marked with the green arrow) just mentioned.

However, if there is not enough liquidity for pro money to push prices higher from here, we will likely see a close below the round number, and this could very well be our signal to exit our long position (level above), as we have taken enough heat on this trade already!

Pending/P.A confirmation levels:

  • 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 target has recently been hit at 0.93, so do keep an eye out for our third and final take-profit target set at 0.93728.
  • No P.A confirmation buy levels (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 levels (Red line) are seen in the current market environment.

AUDUSD 4HR

Quick Recap:

We will be watching price action on this pair closely this week, if we see a push above the supply area marked with the green arrow at 0.93275, we can likely assume price is relatively free to hit our third and final target above at 0.93728 (from our long position at 0.92417). However, if there’s not enough buy orders in the market from here, we could likely see a close below the round number 0.93, which is when we will liquidate our long position as we have taken enough heat on this trade already!

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

 

USD/JPY:

Weekly TF.

A huge rally in price was seen last week which saw the market close for week (103.884) just below the weekly supply area at 105.432-104.065. We will definitely begin looking for shorts now and any long positions will need confirmation as we could see some very serious selling take place either this week or the next.

USDJPY WEEKLY

Daily TF.

Ouch, a spike above the daily supply area at 104.104-103.802 has been seen. This likely indicates a lot of the traders who attempted to fade this area with their stop-loss order too close have been stopped out. The path north appears to be relatively clear now up to the daily supply area at 104.831-104.505. However before this area gets hit, we must be prepared for a drop down to at least the daily R/S flip level at 102.713 since pro money may not have enough liquidity to push prices higher from here.

USDJPY DAILY

4hr TF.

As already clearly seen on the weekly timeframe, the buyers were on fire for the most part of last week, look at that rally in price, fantastic price movement! Selling interest did begin to surface mid-week around the 4hr supply at 104.104-103.981, however it was not quite enough to stop (what appears to be) an intentional spike above this area and the round number 104 from pro money. This spike likely cleared out most of the sellers around this around this area including us! With most of the sellers consumed around this 4hr supply area, we can likely assume the path north is clear up until the next area of interest (4hr supply at 104.831-104.591) which just so happens to be nearly the same as the daily timeframe, only a little smaller in size.

Even though we are trading below a weekly supply area (levels above) at the moment, we must not ignore the fact that both the daily and 4hr timeframes have potentially cleared the path north for higher prices (deeper into the weekly demand area – see above). However before higher prices are seen, pro money will require liquidity, this liquidity will be in the form of sell orders for their buy orders (the stops pro money have just taken above both the 4hr and daily supply areas are now buy orders, pro money cannot buy into them), so they may need to bring price south enticing traders to join in on the momentum, and fool traders into believing this is the start of a new downtrend from the weekly supply (levels above), once these sell orders come piling in, pro money will buy into these orders bit by bit thus giving them the much-needed liquidity for a further push north and to confuse the crap out of other traders.

However, the question we should all be asking ourselves is where would they likely bring prices down to? We believe it could either be the round number 103 (a P.A confirmation level is set just above at 103.037), or the 4hr demand area at 102.129-102.303, however do bear in mind this is only a guesstimate, and price could indeed drop further.

Pending/P.A confirmation levels:

  • No pending buy orders (Green line) are seen in the current market environment.
  • The P.A confirmation buy level (Red line) set just above the round number 102 at 102.027 has been removed since price has rallied too far from the entry level for the time being.
  • New P.A confirmation buy levels (Red line) are seen just above the round number 103 at 103.037. The reason we have not set a pending buy order here is simply because pro money could either perform a deep test of this level, or ignore this level altogether.
  • The pending sell order (Green line) set just below a 4hr supply area (104.104-103.981) at 103.954 has been stopped out.
  • No P.A confirmation sell levels (Red line) are seen in the current market environment.

USDJPY 4HR

Quick Recap:

After the huge rally in price seen last week, we are now looking for a decline down to around the round number 103 (P.A confirmation level set just above at 103.037), or the 4hr demand area just below at 102.129-102.303 before higher prices are seen.

  • Areas to watch for buy orders: P.O: No pending buy orders are seen in the current market environment.  . P.A.C: 103.037 (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: No P.A confirmation sell levels are seen in the current market environment.

 

EUR/GBP:

Weekly TF.

Last week buyers and sellers were being seen battling it out within the weekly decision-point level at 0.80328-0.79780, however two weeks ago a spike/wick above this area was seen indicating some of the sellers have been consumed and meaning the path north up to the weekly supply area at 0.81397-0.80805 is possibly free.

EURGBP WEEKLY

Daily TF.

The battle between the buyers and sellers is seen more clearly on the daily timeframe. In and around daily supply at 0.80328-0.80024 buyers and sellers have been and still are having a mini tug of war between themselves, price is being pushed north, then south, then north….  The same spike/wick seen on the weekly timeframe, is exactly the same on this timeframe, meaning the path north is likely clear now up to the daily S/R flip level at 0.80809 (the lower base of the weekly timeframe supply area – see above), however before price can be pushed higher, pro money will need sell orders to buy into, and at the moment this does not seem to be the case. A decline in value may well be seen right down to the next fresh daily demand area at 0.78117-0.78533 which is nicely located within the weekly demand area at 0.76931-0.78623.

EURGBP daily

4hr TF.

Let’s recap here a little, both the weekly and daily timeframes have had supply areas breached, indicating price is likely clear to move up to the next areas of interest. However the daily timeframe clearly indicates prices may see a decline down to a fresh daily demand area at 0.78117-0.78533 which is nicely located within the weekly demand area at 0.76931-0.78623.

Now with the above in mind, the 4hr timeframe is telling a slightly different story for the time being. Pro money was last week seen consuming supply pockets (possibly collecting unfilled sell orders) as price was declining, as they were doing this, the path north for any buying was being cleared. The 4hr S/D flip area at 0.79792-0.79663 proved itself to be worthy of consideration last week when buying interest was seen from within. If during the week we see a break above the high marked with an arrow at 0.80151, we are likely going to see price hit the 4hr supply area above at 0.80619-0.80409. However, on some occasions we have seen price consume highs just like this one, and then come back to collect any unfilled buy orders before rallying towards its target which would be the aforementioned 4hr supply area in this case, so we will be looking to trade long around the 4hr S/D flip area if indeed a break above the aforementioned high is seen.

This is not us disagreeing with the higher-timeframe analysis, all this is, is a potential opportunity that may happen before lower prices are eventually be seen.

Pending/P.A confirmation levels:

  • No pending buy orders (Green line) are seen in the current market environment.
  • P.A confirmation buy levels (Red line) are seen just above a 4hr decision-point level (0.79189) at 0.79215. The reason for setting a P.A confirmation buy level, and not a pending buy order is simply because this level has seen a touch already indicating some of the buyers may have been consumed, thus weakening this area, hence the need for confirmation on this one.
  • No Pending sell orders (Green line) are seen are seen in the current market environment.
  • No P.A confirmation sell levels (Red line) are seen in the current market environment.

EURGBP 4HR

Quick Recap:

Once the market opens, we are going to be watching for price to break above the high marked with an arrow at 0.80151, when, or indeed if this does happen, buying opportunities will be seen around the 4hr S/D flip area at 0.79792-0.79663 targeting the 4hr supply area above at 0.80619-0.80409.

  • Areas to watch for buy orders: P.O: No pending buy orders are seen in the current market environment.P.A.C: 0.79215 (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: No P.A confirmation sell levels are seen in the current market environment.

 

USD/CAD:

Weekly TF.

Last week saw price action predominantly remain trading within the weekly supply area at 1.09592-1.08133. Any sellers that were trying to fade this area have very likely been forced to cover their positions now, indicating the path is now clear up to the small weekly supply area above at 1.10522-1.09996.

USDCAD WEEKLY

Daily TF.

The daily timeframe’s price action is very similar to the weekly timeframe, only on a slightly smaller scale. The sellers around the daily supply area at 1.09592-1.09156 have well and truly been consumed, which likely indicates that price is free to rally up to the next area of interest on this timeframe (daily supply at 1.10522-1.10133).

USDCAD DAILY

4hr TF.

Even though the higher timeframes are suggesting higher prices could be seen soon, the 4hr timeframe is currently indicating we may see lower prices down to at least the round number 1.09 (a P.A confirmation buy level is set just above at 1.09040). The red circle represents quite an important low (1.09311) as this was the low that formed the HH into the 4hr supply area above at 1.09830-1.09652, so once price closed below this as it did (marked with an arrow – 1.09269), and then price spiked north to collect any unfilled sell orders (1.09787), we can very likely assume once the market opens this week, we will be likely seeing lower prices down to at least the round number 1.09, since most of the buyers have already been consumed.

We are definitely not disagreeing with what the higher-timeframe picture is telling us, all we are merely pointing out is that price will likely see a decline in value before higher prices are seen.

Pending/P.A confirmation levels:

  • No pending buy orders (Green line) are seen in the current market environment.
  • New P.A confirmation buy levels (Red line) are seen just above the round number 1.09 at 1.09040. We have not placed a pending buy order here simply because pro money could test (deep spike) this area, and also there is no logical area (that is close enough) for a stop-loss order to be set.
  • Pending sell orders (Green line) are seen just below a 4hr supply area (1.10388-1.10163) at 1.10127. This area remains fresh, and likely contains unfilled sell orders indicating a bounce south at the very least will be seen if/when price reaches this area.
  • The P.A confirmation sell level (Red line) set just below a 4hr supply area (1.09830-1.09652) at 1.09624 has been removed since a small wick/spike (1.09853) was seen above the 4hr supply area invalidating the level, thus not allowing us to place a pending sell order in its place.

USDCAD 4HR

Quick Recap:

As soon as the market opens this week, we will be watching for prices to move lower down to at least the round number 1.09 (P.A confirmation level set just above at 1.09040), since most of the demand/buyers have already been consumed around the low 1.09311 marked with a red circle by price closing below at 1.09269 marked with a blue arrow.

  • Areas to watch for buy orders: P.O: No pending buy orders are seen in the current market environment. P.A.C:1.09040 (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: 1.10127 (SL: 1.10440 TP: Dependent on how price approaches) P.A.C: No P.A confirmation sell levels are seen in the current market environment.

 

USD/CHF:

Weekly TF.

A close above the weekly decision-point level at 0.90927 has been seen. Any sellers around this area have now very likely been stopped out, and on this timeframe the path north appears to be clear up to around the weekly supply area at 0.94546-0.93081.

USDCHF WEEKLY

Daily TF.

Price is still trading within a daily range. Daily supply is seen above at 0.91556-0.90985 and a daily S/D flip area below at 0.90372-0.90042. But, at the time of writing, price is seen pushing deeper within the aforementioned daily supply area. If we see a close above this area, there is very little to the left stopping price from reaching the daily supply area way above at 0.94546-0.93448, which is conveniently located within the weekly supply area mentioned above.

USDCHF DAILY

4hr TF.

Any sellers who attempted to fade the 4hr supply area at 0.91329-0.91141 have more than likely been forced to cover their positions. With the sellers consumed here, the path north is likely clear to the next fresh 4hr supply area at 0.91892-0.91668 (a pending sell order is set just below at 0.91637 – this area is not visible on the higher timeframes).

Late Friday a break above the high 0.91449 (marked with an arrow) was seen, so any lower-timeframe sellers and breakout buyers were likely stopped out by those vicious wicks/tails. What this likely did was clear the way for a move north up to the 4hr supply area at 0.91892-0.91668.  With that being said we are fairly confident a small retrace in price back down to the fresh 4hr demand area at 0.91025-0.91177 (pending buy order set above at 0.91201) will be seen early this week, and then a push up to the aforementioned 4hr supply area which will make a nice take-profit target.

Pending/P.A confirmation levels:

  • New pending buy orders (Green line) are seen just above 4hr demand (0.91025-0.91177) at 0.91201. The reasoning behind setting a pending buy order here is because we believe the aforementioned 4hr demand area will see a first-time reaction, which will likely rally up to at least the 4hr supply area above at 0.91892-0.91668.
  • The P.A confirmation buy level (Red line) set just above the round number 0.9 at 0.90026 has been removed since price rallied too far from the entry level for the time being.
  • The P.A confirmation sell level (Red line) set just below 4hr supply (0.91329-0.91141) at 0.91112 has been removed since price traded too far above the entry level.
  • The pending sell order (Green line) set just below the round number 0.91 at 0.90975 has been stopped out.
  • New pending sell orders (Green line) are seen just below 4hr supply (0.91892-0.91668) at 0.91637. The reason we have not set a P.A confirmation sell level here is simply because this level remains fresh, and likely contains unfilled sell orders meaning a first-time reaction is possibly going to be seen.

USDCHF 4HR

Quick Recap:

Price has consumed most of the sellers and breakout buyers around the high marked with an arrow at 0.91449, meaning price is likely free to hit the 4hr supply area above at 0.91892-0.91668 (a pending sell order is set just below at 0.91637), however, what we will be watching when the market opens is for price to retrace back down to 4hr demand at 0.91025-0.91177 (a pending buy order is set just above at 0.91201) before hitting the 4hr supply area above filling our pending buy order, and then rallying to the aforementioned 4hr supply area, what a great R:R trade that will make!

  • Areas to watch for buy orders: P.O: 0.91201 SL: 0.90944 TP: Dependent on how price approaches). P.A.C: No P.A confirmation buy levels are seen in the current market environment.
  • Areas to watch for sell orders: P.O: 0.91637 SL: 0.91941 TP: Dependent on how price approaches) P.A.C: No P.A confirmation sell levels are seen in the current market environment.

 

XAU/USD (GOLD)

Weekly TF.

Price still remains trading between the weekly supply area above at 1391.97-1328.04 and a nice-looking weekly decision-point level below at 1244.04 with no attempt of a breakout yet to be seen.

GOLD WEEKLY

Daily TF.

Last week saw some serious selling going on with the only notable buying interest being seen on Friday, as price hit a major daily S/R flip level at 1277.36. Just below this level is a beautiful-looking daily decision-point area at 1258.40-1270.30, so do be prepared for the possibility that pro money may fake below the major S/R flip level into this daily decision-point area, as this area likely contains unfilled buy orders. For the time being however, price remains capped between the daily decision-point level above at 1318.96, and the aforementioned major daily S/R flip level below.

GOLD DAILY

4hr TF.

We can clearly see on this timeframe that price is now capped between a 4hr S/D flip area at 1284.77-1280.53, and a 4hr demand area below at 1258.40-1264.53, and that there is very little to the left stopping price from dropping lower in our opinion.

However, we have to consider if pro money have the orders (liquidity) to push prices this low, and at the moment it appears to be no, and the next area of logical 4hr supply is seen way up at 1319.28-1314.48, and this is likely where pro money would like to bring price before lower prices are seen. The area in the red circle may have some unfilled sell orders lurking within, but from what we can, see the wicks marked with arrows seem to have consumed most of the sellers.

So, unless pro money does already have the liquidity, and the 4hr demand area just mentioned sees a touch soon, it is a waiting game for us.

Pending/P.A confirmation levels:

  • 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.
  • The pending buy order (Green line) set just above the 4hr S/D flip area (1284.77-1280.53) at 1285.71 has been stopped out.
  • The P.A confirmation buy level (Red line) set just above a 4hr decision-point level (1290.72) at 1291.36 has been removed since price has invalidated this level
  • No pending sell orders (Green line) are seen in the current market environment.
  • The P.A confirmation sell level (Red line) set just below the 4hr R/S flip level (1323.04) at 1321.55 has been removed since price has traded too far from the entry level for the time being.

GOLD 4HR

Quick Recap:

The path south is very likely free down to around the 4hr demand area at 1258.40-1264.53 as there is very little demand to the left that will likely cause any problems. However for pro money to move price this far south, they need buy orders to sell into, and at the moment it appears they do not have the required amount, so a push north may well be seen. However, the only logical area of 4hr supply we can see is around 1319.28-1314.48, since supply within the red circle seems to have already been consumed by the wicks marked with blue arrows. So, unless pro money does already have the liquidity, and the 4hr demand area just mentioned sees a touch soon, it is a waiting game for us.

  • Areas to watch for buy orders: P.O: 1266.09 (SL: 1256.40 TP: Dependent on price approach) P.A.C: No P.A confirmation buy levels 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: No P.A confirmation sell levels are seen in the current market environment.