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: After a solid close below weekly demand at 1.32940-1.34847, buyers and sellers are now seen battling it out within the weekly demand area below at 1.31037-1.32262.
  • Daily TF: Price is trading within a fantastic-looking daily demand area at 1.31037-1.31755. We are prepared for lower prices deeper into this daily demand area, but ultimately we do expect higher prices to be seen in the end.

Pro money pushed higher than expected above the round number 1.32, clearly they wanted to take out more stops from traders attempting to fade this level and trap as many breakout buyers as they possibly could. Notice after the break occurred, a retest was seen, a lot of traders would have likely gone long there as well! This move gave pro money a lot of liquidity (buys for their sells) with this move. From here price was slammed back down into 4hr demand at 1.35599-1.31879 where buyers have once again shown a little interest around the 1.31585 level.

We still favor a drop down to the fresh 4hr demand area at 1.31037-1.31278 (a pending buy order is set just above at 1.31333), since most of the sellers have likely been cleared with that spike/tail marked with a blue arrow (below the 4hr demand at 1.35599-1.31879), it should be relatively easy to hit. If this does happen, price will be then trading deeper within both weekly demand at 1.31037-1.32262, and daily demand at 1.31037-1.31755.

Pending orders/P.A confirmation levels:

  • Pending buy orders (Green line) are seen just above 4hr demand (1.31037-1.31278) at 1.31333. We strongly believe a first-time reaction will be seen here due to where price is located on the higher-timeframe picture (Weekly demand: 1.31037-1.32262. Daily demand: 1.31037-1.31755).
  • No P.A confirmation buy levels (Red line) are seen in the current market environment.
  • No pending sell orders (Green line) are seen in the current market environment.
  • 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:

We are expecting a decline in value sometime soon down to around the 4hr demand area at 1.31037-1.31278 which would bring price deep within higher-timeframe demand areas (Weekly demand: 1.31037-1.32262. Daily demand: 1.31037-1.31755). The arrow marked on the chart around the 1.31515 area likely signifies demand consumption here; hence we’re looking at the aforementioned 4hr fresh demand area below.

  • Areas to watch for buy orders:P.O: 1.31333 SL: 1.30988 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: No pending sell orders are seen in the current market environment. 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:

4hr TF.

The higher-timeframe picture resembles the following:

  • 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?
  • Daily TF: Any buyers who attempted to trade the daily demand area at 1.65492-1.66044 have now likely been forced to cover their positions as a break below has been seen. The path south is very likely clear down to the daily demand area at 1.64589-1.64949, nonetheless, we are fully prepared for price to retrace up to at least the daily supply area at 1.67364-1.67105 before the aforementioned daily demand area is hit.

A small consolidation (1.65654/1.66) has formed around the round number 1.66 on the 4hr chart. A spike/wick above the range/round number level was seen, but sellers did not appear to be too keen on taking things much lower from there.

Something to keep in mind is that we are trading deep within a weekly demand area (1.64589-1.66339) at the moment, so higher prices could very well be seen soon. A push above the round number 1.66 will likely trigger buying interest up to at least the 4hr S/R flip level at 1.66563, and at this point we would likely be looking for longs our self!

However, a short-term shorting opportunity may present itself if we seea break below the lowmarked with a blue arrow at 1.65340 sometime today, we will then be looking for a short-term sell around the round number 1.66, if, and we must emphasize the word ‘if’ here, we do not hit the round number below at 1.65 first. Be sure to keep in mind this is only a short-term opportunity, and we are fully aware of where price is currently located within the higher timeframe picture (trading quite deep within the weekly demand area at 1.64589-1.66339), so we should remain extra cautious with trades like this.

 

Pending orders/P.A confirmation levels:

  • Pending buy orders (Green line) are seen just above a 4hr decision-point level (1.64895) at 1.64944. The main reason we have gone with a pending buy order on this one is simply because we are currently located around a nice-looking weekly demand area at 1.64589-1.66339, and that this 4hr level remains untouched for the time being.
  • No P.A confirmation buy levels (Red line) are seen in the current market environment.
  • No pending sell orders (Green line) are seen in the current market environment.
  • No P.A confirmation sell levels (Red line) are seen in the current market environment.

GBPUSD 4HR

Quick Recap:

Remains the same as the last analysis:

We currently have our eye on a short-term sell opportunity around the round number 1.66 if price breaks below the low marked with a blue arrow at 1.65345, and we do not hit the round number below at 1.65 first, we will then be looking to enter at a possible retrace at the round number 1.66. As already said (above) this is only a short-term opportunity, and we remain fully aware of where price is currently located within the higher timeframe picture (within a serious weekly demand area at 1.64589-1.66339). However, we are still trading within weekly demand (levels above); higher prices could be seen at any time. A push above the round number 1.66 will likely trigger buying interest up to at least the 4hr S/R flip level at 1.66563, and at this point we would likely be looking for longs our self!

  • Areas to watch for buy orders:P.O: 1.64944 SL: 1.64497 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: 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.

 

AUD/USD:

4hr TF.

The higher-timeframe picture resembles the following:

  • 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.
  • 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 spike/wick above the aforementioned daily decision-point level at 0.93529 was recently seen; could this spike have potentially cleared the sellers here, and cleared the path up to the daily supply area at 0.94729-0.94175?

A beautiful to-the-pip reaction has been seen around the base of 4hr supply at 0.93866-0.93728 (P.A confirmation sell level was triggered [0.93711] in the process). It appears for the time being buying interest is being seen around a minor 4hr R/S flip level at 0.93450, be that as it may, for us to even consider setting a pending sell order around the aforementioned 4hr supply area, a push below low marked with a green arrow at 0.93279 would have to happen.

Here is a quick reminder of what areas of 4hr ‘demand’ we’ll be watching if price continues south past the aforementioned 4hr low:

Our original pending buy order still remains the same (0.92807) just above a fantastic-looking 4hr decision-point level at 0.92785. We have also added a P.A confirmation buy level just above (in our opinion) a minor 4hr decision-point level (0.93053) at 0.93076. This area is likely where the decision was made to break above the high 0.93450, so it remains important, however not as much as the level below it (0.92785)! The reason being is we see the lowest 4hr decision-point level to be the overall origin of the rally higher, indicating that pro money may well just use the 4hr decision-point level at 0.93053 as a ‘dummy-fake’ level, in which to push price below to the aforementioned origin, hence we have set a P.A confirmation level there rather than a pending buy order.

Pending/P.A confirmation levels:

  • Pending buy orders (Green line) are seen just above a 4hr decision-point level (0.92785) at 0.92807. We have placed a pending buy order here because this level remains untouched, and Is effectively where pro money buyers likely made the decision to push prices above the round number 0.93.
  • P.A confirmation buy levels (Red line) are seen just above a 4hr decision-point level (0.93053) at 0.93076. The reason for not setting a pending buy order here is simply because we believe pro money may push below this level to the overall origin of the move up (4hr decision-point level at 0.92785).
  • No pending sell orders (Green line) are seen in the current environment.
  • The P.A confirmation sell level (Red line) set just below a 4hr supply (0.93866-0.93728) at 0.93711 is now active. The sellers will need to confirm this area by consuming some or most of the buyers around the low marked with a green arrow at 0.93279, we will then consider setting a pending sell order awaiting a possible return.

AUDUSD 4HR

Quick Recap:

Remains the same as the last analysis:

Our P.A confirmation sell order has been triggered just below 4hr supply (0.93866-0.93728) at 0.93711, The sellers will need to confirm this area by consuming some or most of the buyers around the low marked with a green arrow at 0.93279, we will then consider setting a pending sell order awaiting a possible return. However if no return is seen, and price keeps declining, we will be watching two levels (0.93053 [A P.A confirmation buy level is set above at 0.93076]…0.92875 [A pending buy order is set just above at 0.92807]).

  • Areas to watch for buy orders: P.O: 0.92807 SL: 0.92661 TP: Dependent on how price approaches) P.A.C: 0.93076 (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: 0.93711 (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).

USD/JPY:

4hr TF.

The higher-timeframe picture resembles the following:

  • Weekly TF: Buyers and sellers are now firmly trading around a beautiful-looking 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.
  • Daily TF: A break 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 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.

The close below the 4hr support level at 103.738 was not very convincing to say the least! We initially said in our last analysis, a close below would likely imply selling interest from the weekly supply area at 105.432-104.065. However, the close below the 4hr support level seen is not good enough for us to be looking for shorts at the moment, since this could very well be a fakeout, and a push higher may well be seen later today back into the current 4hr range (103.738-104.264). in our opinion, It would not be very difficult for the buyers to push prices higher, take a quick look at the pink trendline, notice the wicks (marked by blue arrows) likely consumed the majority of the supply/sellers as price was declining, hence the path north may be relatively clear up to around the upper limits of the aforementioned 4hr range.

For selling interest to be confirmed here, price would need to push below the low marked with a green arrow at 103.491, we would then be looking to play the retest of the 103.738 level down to the round number 103, where we currently have a P.A confirmation buy level set above at 103.037.

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 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.
  • Pending sell orders (Green line) are seen just below 4hr supply (104.831-104.591) at 104.568. The reasoning behind setting a pending sell order here is simply because this area remains untouched, and is located within both weekly supply at 105.432-104.065 and also daily supply at 104.831-104.505 as well.
  • No P.A confirmation sell levels (Red line) are seen in the current market environment.

USDJPY 4HR

Quick Recap:

A mediocre close below the 4hr range (103.738-104.264) was recently seen, however in our opinion, it’s not convincing enough for us to begin looking for shorts. This could very well be a fakeout, if so; price has very little in its way stopping it from reaching the upper limits of the aforementioned 4hr range, since supply/sellers have already likely been consumed as price was declining (notice the wicks below the pink trendline).

  • 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: 104.568 (SL: 104.873 TP: Dependent on how price approaches). P.A.C: No P.A confirmation sell levels are seen in the current market environment.

 

EUR/GBP:

4hr TF.

The higher-timeframe picture resembles the following:

  • Weekly TF: Two weeks ago a spike/wick was seen just above the weekly decision-point area at 0.80328-0.79780, indicating that some of the sellers around this area have been consumed, which also likely means price is now free to hit the weekly supply area above at 0.81397-0.80809.
  • Daily TF: The same spike/wick seen on the weekly timeframe, is exactly the same on this timeframe (above daily supply at 0.80328-0.80024), 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 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.

There were clearly active sellers around the minor 4hr supply area at 0.79661-0.79586, which pushed price down to the 0.79429 level. This level was formed by the huge bullish bar seen on 13/08/14, for price to move this fast and this high, there were very likely unfilled buy orders left there from pro money, and those left-over buy orders are very likely filled now, as the buyers were seen pushing off of this level back up to the aforementioned 4hr supply area, where once again the sellers are showing interest.

If this selling continues, we very much expect price to break lower than the 0.79429 level, and to at least hit the 4hr decision-point level at 0.79189 (a P.A confirmation buy level is set just above at 0.79215). Nonetheless, what really takes our fancy is the 4hr demand area just below this level at 0.79037-0.79139 (pending buy order set just above at 0.79155) since from this area, the buyers consumed sellers not only around the high 0.79385, but also the high 0.79795 (marked with arrows) making this area a one to watch. However, if the buyers are intent on trading higher from here and break above the minor 4hr supply area at 0.79661-0.79586, they will as a consequence be immediately trading within the next 4hr supply area above at 0.79778-0.79664 (stacked supply). If the buyers break above this area, things will begin to get interesting, the gap will likely get filled, and maybe then trade up to a sexy-looking 4hr supply area at 0.80151-0.80085, the round number 0.8 below will likely be faked past in order to reach true supply, so be aware of this if anyone is thinking of shorting this round number if/when price reaches this level.

Pending/P.A confirmation levels:

  • Pending buy orders (Green line) are seen just above 4hr demand (0.79037-0.79139) at 0.79155. The reason we have placed a pending buy order here is simply because the buyers consumed sellers not only around the high 0.79385, but also the high 0.79795 (marked with arrows) making this area a juicy one indeed!
  • 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:

Active sellers seem to be once again situated around a 4hr minor supply area at 0.79661-0.79586, If the sellers outweigh the buyers here, the path south looks relatively clear down to at least the 4hr decision-point level at 0.79189 (a P.A confirmation buy level is set just above at 0.79215), but what really takes our fancy is the 4hr demand area below at 0.79037-0.79139 (pending buy order is set just above at 0.79155) since from this area, the buyers consumed sellers not only around the high 0.79385, but also the high 0.79795 (marked with arrows).

  • Areas to watch for buy orders: P.O: 0.79155 SL: 0.78953 TP: Dependent on how price approaches).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:

4hr TF.

The higher-timeframe picture resembles the following:

  • Weekly TF: A push higher into a small weekly supply area at 1.10522-1.09996 has been seen, and at the time of writing, serious sellers appear to have come into the market.
  • Daily TF: Price has been sold very heavily straight into a daily S/R flip level at 1.08277, where the buyers are beginning to show interest, and consequently capping price between the aforementioned daily S/R flip level, and a newly-formed daily supply above at 1.09967-1.09401.

It was reported in the last analysis after the break below of the round number 1.09, that we may see a retest of this level as resistance. This did happen, but trading on the 4hr timeframe, this was very difficult to catch, other than setting a pending sell order, but we try to avoid setting pending orders around round numbers, we prefer to wait for some confirmation before entering.

The 4hr demand area at 1.08441-1.08650 saw a vicious spike through it straight into an important S/D flip area at 1.08324-1.08092, no doubt stopping out any poor soul trying to fade the 4hr demand area!

Considering we are trading out of a heavy-weight weekly supply area (levels above), and currently trading around a daily S/R flip level (level above), we naturally expect to see lower prices still (higher timeframes usually overrule). However, before this happens, we must be prepared for a rally in price, as there are no doubt active buyers around the daily S/R flip level area to consume first. We will be watching the following areas for bearish price action: 4hr supply (1.09073-1.08883) where we have set a P.A confirmation sell level just below at 1.08856, 4hr supply (within daily supply at 1.09967-1.09401) at 1.09967-1.09807 where we have another P.A confirmation level set just below at 1.09777, and finally a fantastic-looking 4hr supply area above at 1.10388-1.10163 (pending sell order set below at 1.10127).

Pending/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.
  • 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.
  • New P.A confirmation sell levels (Red line) are seen just below 4hr supply (1.09073-1.08883) at 1.08856. The reasoning behind not setting a pending sell order here was simply because price could rally all the way back up to (in our opinion) a beautifully located 4hr supply area at 1.10388-1.10163.
  • New P.A confirmation sell levels (Red line) are seen just below 4hr supply (1.09967-1.09807) at 1.09777. The reasoning behind not setting a pending sell order here was simply because price could rally all the way back up to (in our opinion) a beautifully located 4hr supply area at 1.10388-1.10163.

USDCAD 4HR

Quick Recap:

We still expect lower prices considering we are trading out of a heavy-weight weekly supply area at 1.10522-1.09996. However, before lower prices are seen, we need to prepare ourselves for a rally higher due to their likely being active buyers around the daily S/R flip level at 1.08277. We will be watching the following areas for bearish price action: 4hr supply (1.09073-1.08883) where we have set a P.A confirmation sell level just below at 1.08856, 4hr supply (within daily supply at 1.09967-1.09401) at 1.09967-1.09807 where we have another P.A confirmation level set just below at 1.09777, and finally a fantastic-looking 4hr supply area above at 1.10388-1.10163 (pending sell order set below at 1.10127).

  • 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 seen in the current market environment.
  • Areas to watch for sell orders: P.O: 1.10127 (SL: 1.10440 TP: Dependent on how price approaches) P.A.C: 1.08856 (SL: Dependent on price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed) 1.09777 (SL: Dependent on price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed).

 

USD/CHF:

4hr TF.

The higher-timeframe picture resembles the following:

  • Weekly TF: A close above the weekly decision-point level at 0.90927 has been seen (keep an eye on a possible retest of this level as support). 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.
  • Daily TF: Price has broken above the daily supply area at 0.91556-0.90985. Looking to the left of current price, there is nothing but ‘wicky’ price action indicating supply consumption i.e. no sellers left up to around the daily supply area at 0.94546-0.93448, however before this happens we must be prepared for a decline in value down to at least the daily S/D flip area at 0.90372-0.90042.

Our short position (0.91637) taken just under the 4hr supply area at 0.91892-0.91668 is looking in relatively good shape at the moment, since price has now broken the minor 4hr R/S flip level at 0.91429 below, we can very likely expect the 4hr demand area to be hit at 0.91025-0.91177 sometime soon (which is where our second take-profit target is located). However, before this target is hit, we are prepared to take some heat on the trade, as price could very likely rally from here, and retest the aforementioned minor 4hr R/S flip level, or with a push, even back up to the aforementioned 4hr supply area.

Once, or indeed if price declines from here, and breaks the 4hr demand area at 0.91025-0.91177, there appears to be very little stopping price from dropping down to the next fresh 4hr demand area at 0.90576-0.90691, which will be where our third and final take-profit target will be set.

Pending/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.
  • No P.A confirmation sell levels (Red line) are seen in the current market environment.
  • The pending sell order (Green line) set just below 4hr supply (0.91892-0.91668) at 0.91637 is now active. Our first take-profit target has been hit at 0.91429, so do keep an eye on our second take-profit level set at 0.91177.

USDCHF 4HR

Quick Recap:

A break below the minor 4hr R/S flip level at 0.91429 has been seen, price seems to be stalling before our second take-profit target at 0.91177, so we have to be prepared to take some heat on the trade, as price could very likely rally from here, and retest the aforementioned minor 4hr R/S flip level, or with a push, even back up to the 4hr supply area at 0.91892-0.91668 before our second target is hit..

  • 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:0.91637(Active) SL: 0.91941 TP: [1] 0.91429 [2] 0.91177 [3] 0.90726 P.A.C: No P.A confirmation sell levels are seen in the current market environment.

 

XAU/USD (GOLD)

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 weekly decision-point level below at 1244.04 with no attempt of a breakout yet to be seen.
  • Daily TF: Buying interest from the daily S/R flip level at 1277.36 has recently been seen. If the buyers are intent on taking things higher, their first obvious area of trouble will likely be around the daily decision-point level at 1318.96.

Beautiful, in our opinion, the buyers have confirmed the 1283.60 area as a logical place to set a pending buy order at, since they have likely consumed the majority of the sellers (potential obstacle for any buying) around the high marked with a green flag at 1290.86, effectively clearing the path north for higher prices.

Our pending buy order (1283.60 is placed in such a way that we have the market come to us, rather than we chase it! A retracement may be seen due to pro money likely needing to collect any unfilled buy orders left around our entry level, as it is only pro money that can make a decision to rally the market like this. If our pending buyer order (level above) gets filled, we could be in a for a great R:R trade, since there appears to be only consumed supply/sell orders directly above the high marked with a green flag at 1290.86 (take note of the wicks marked with the blue arrows within the red circle) up to around 4hr supply at 1319.28-1314.48 which is where we’ll be ultimately targeting.

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.
  • New pending buy orders (Green line) are seen just above the 4hr range area (1273.07-1283.13) at 1283.60. The reason we have set a pending buy order here is simply because the buyers have confirmed that higher prices may likely be seen, by consuming the majority of the sellers (which was a requirement at the time) around the high marked with a green flag at 1290.86.
  • No P.A confirmation buy levels (Red line) are seen in the current market environment.
  • No pending sell orders (Green line) are seen in the current market environment.
  • No P.A confirmation sell levels (Red line) are seen in the current market environment.

GOLD 4HR

Quick Recap:

A break above the high marked with a green flag at 1290.86 has allowed us to set a pending buy order (1283.60) around where the initial decision was made to push higher. Now, all we can do is wait for price to hopefully retrace and fill our buy order, which we’ll be then ultimately targeting the 4hr supply 1319.28-1314.48, since there appears to be only consumed supply/sell orders directly above the high marked with a green flag at 1290.86 – take note of the wicks (marked with the blue arrows) within the red circle.

  • Areas to watch for buy orders:P.O: 1266.09 (SL: 1256.40 TP: Dependent on how price approaches) 1283.60 (SL: 1279.67 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: 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.