GOLD should/could drop further towards 1600
We have been monitoring and suggesting GOLD shorts for a few weeks in the Private Network, institutions are rotating out of GOLD taking profits on their longs and they will be able to buy back below 1600.
The trend is bullish yes but T Notes are falling like a waterfall with no sign of stopping. That’s your clue...
Below 1660 the selloff will accelerate, the warning signs are here and have been here for weeks anticipating the selloff from 1750 to 1670, keep an eye on the T Notes, if you’re unsure how to read what’s happening in GOLD.
We will turn extremely bullish at one point but first more downside is expected.
We have been monitoring and suggesting GOLD shorts for a few weeks in the Private Network, institutions are rotating out of GOLD taking profits on their longs and they will be able to buy back below 1600.
The trend is bullish yes but T Notes are falling like a waterfall with no sign of stopping. That’s your clue...
Below 1660 the selloff will accelerate, the warning signs are here and have been here for weeks anticipating the selloff from 1750 to 1670, keep an eye on the T Notes, if you’re unsure how to read what’s happening in GOLD.
We will turn extremely bullish at one point but first more downside is expected.
BeSomebodyFX
We have taken profit on our AUDNZD trades, expecting a pullback now to form bullish structure to continue the bullish move around the end of the month, sitting on our hands at the moment and waiting patiently for the zone to be reached, once reached we will…
Stop loss hit on for us on AUDNZD, still believe we head much higher to around 1.12000 in the coming months but moving away from the idea for the time being
Expecting the S&P500 to push higher at the NY open until the FOMC meeting...
Stocks are expecting the FED to signal that continued commitment strongly so we expect them to trade higher from the NY open until right after the FOMC release, this means look ONLY for buys between the NY session open and the FOMC rate release (take your profits right before the rate decision)
It's not really a science but the S&P500 is lagging behind the NASDAQ (meaning the NASDAQ is above yesterday's open while the S&P500 is still below it) given the optimism in the FED meeting today i would expect the S&P500 to catch up today once NY opens
Stocks are expecting the FED to signal that continued commitment strongly so we expect them to trade higher from the NY open until right after the FOMC release, this means look ONLY for buys between the NY session open and the FOMC rate release (take your profits right before the rate decision)
It's not really a science but the S&P500 is lagging behind the NASDAQ (meaning the NASDAQ is above yesterday's open while the S&P500 is still below it) given the optimism in the FED meeting today i would expect the S&P500 to catch up today once NY opens
BeSomebodyFX
Expecting the S&P500 to push higher at the NY open until the FOMC meeting... Stocks are expecting the FED to signal that continued commitment strongly so we expect them to trade higher from the NY open until right after the FOMC release, this means look ONLY…
NASDAQ +0.60% since the open but S&P500 around -0.14% since the open, don't forget to close any long before the FOMC release which is in 35 minutes, it could be a big disappointment for stocks since most likely we won't get the YCC which the market is speculating on
BeSomebodyFX
GOLD should/could drop further towards 1600 We have been monitoring and suggesting GOLD shorts for a few weeks in the Private Network, institutions are rotating out of GOLD taking profits on their longs and they will be able to buy back below 1600. The trend…
Took a -1% on this idea too, another one that we still believe it heads lower but we need to manage our positions so we took the loss
Don't forget trading it's NOT all sunshine and roses, this week we took two losses one in GOLD and one in AUDNZD and we are down around 2% for June.
A loss can freeze a trader and ignite a destructive process of greed and fear, there is one thing you have to master in trading before everything else, and that's how to manage your losses, keep them small and learn to not care... It's just business... cash flow...
Question everything when it comes to joining a trading service, if it looks like somebody is always winning then be careful, and ask yourself, does that service provides me more than just signals? You won't go far following only trading signals, most of our Private Network members are still up on the week even if I'm down, why? because we provide VALUE, yesterday we suggested you to get out of US indices longs before the FOMC meeting, check indices now, that's worth more than a winning trade...
A loss can freeze a trader and ignite a destructive process of greed and fear, there is one thing you have to master in trading before everything else, and that's how to manage your losses, keep them small and learn to not care... It's just business... cash flow...
Question everything when it comes to joining a trading service, if it looks like somebody is always winning then be careful, and ask yourself, does that service provides me more than just signals? You won't go far following only trading signals, most of our Private Network members are still up on the week even if I'm down, why? because we provide VALUE, yesterday we suggested you to get out of US indices longs before the FOMC meeting, check indices now, that's worth more than a winning trade...
BTC and ETH next move...
Anonymous Poll
50%
11k for BTC and 280 for ETH
50%
8k for BTC and 200 for ETH
There is a lot to learn from these 2 images, price breaks a level where breakout traders are waiting to jump in and where buy side liquidity (buyers stops) is resting, now that the buyers have been stopped and the sellers joined the party price squeezes higher to cause "pain"
This is the COVID trend across US states, the situation could be getting critic and that would of course impact the markets, keep your eyes on this site:
https://coronavirus.jhu.edu/data/new-cases-50-states
And if the table gets redder and redder every day then you should know what to do, risk off is looming around the corner
https://coronavirus.jhu.edu/data/new-cases-50-states
And if the table gets redder and redder every day then you should know what to do, risk off is looming around the corner
Is a COVID second wave going to happen and stocks will dump again?
Final Results
65%
Of course!
35%
Nah we good...
BeSomebodyFX
Is a COVID second wave going to happen and stocks will dump again?
So the majority now expects a new COVID wave and a dump in the stock market...
It's interesting to note how the majority back at the end of January thought the virus was being overhyped and it was due to fade away (attached photo), well we know what happened after... The majority is most of the time wrong 😉
NOT saying what will happen with the COVID infection curve, but keep in mind that the crowd tends to be wrong and late to the party.
Will we get a selloff in the stock market?
Probably yes because cases in the US will keep rising in the short term...
Will the selloff be sustained?
Probably not, why? because the crowd will think we are heading to new lows and will get in short way too late, and that's when the stock market will start to squeeze higher again causing pain...
It's interesting to note how the majority back at the end of January thought the virus was being overhyped and it was due to fade away (attached photo), well we know what happened after... The majority is most of the time wrong 😉
NOT saying what will happen with the COVID infection curve, but keep in mind that the crowd tends to be wrong and late to the party.
Will we get a selloff in the stock market?
Probably yes because cases in the US will keep rising in the short term...
Will the selloff be sustained?
Probably not, why? because the crowd will think we are heading to new lows and will get in short way too late, and that's when the stock market will start to squeeze higher again causing pain...
BeSomebodyFX
Something we have our eyes on the Dollar, will look for bullish price action on the mentioned level to confirm an entry
Didn't get enough of a pullback to enter, but you get the psychology behind this price action, breakout... breakout trades jump in... squeeze against them... they give up and take the loss (maybe even reverse the position thinking it was a false break) and then price resumes the intended way...
Australian pension funds withdrawing offshore investments...
One of biggest movers in the FX market (pension funds) have to prepare for Australian citizens to withdraw some of their pensions, so these pension funds have to sell their overseas investments and convert back to Australian Dollars making inevitably appreciate the domestic currency because they will have to convert foreign currency to AUDs...
If we get a convincing break in market structure we will be long, trade safe because market sentiment can shift in a heartbeat with the developments on the COVID front
One of biggest movers in the FX market (pension funds) have to prepare for Australian citizens to withdraw some of their pensions, so these pension funds have to sell their overseas investments and convert back to Australian Dollars making inevitably appreciate the domestic currency because they will have to convert foreign currency to AUDs...
If we get a convincing break in market structure we will be long, trade safe because market sentiment can shift in a heartbeat with the developments on the COVID front