Блог Daytrader21

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Preparing the Week Ahead

Since we're still under summer trading condition my expectations for the coming week are for further range activity with the major currency pairs. Maybe NFP can give us a directional bias for this entire month and we can see where the USD wanna go. Even though in the long term I'm still bullish the dollar in the short-medium term I play the market both ways as so far I don't see any clear sign that the US dollar wants to resume the upward trend.
Maybe September will be the catalyst for the dolla…
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WallStreet6 avatar
WallStreet6 2 Авг.

You may be right with the upcoming week being slow- thanks for cooling us down:)

WallStreet6 avatar
WallStreet6 2 Авг.

I just can't wait to my hands on some pips:)

Berkeley avatar
Berkeley 2 Авг.

Good luck buddy ;)

Daytrader21 avatar
Daytrader21 3 Авг.

WallStreet6 keep in mind I might be wrong:)) Berkeley Nice to see you buddy, good luck to you as well

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Gold Price Action Reminiscence of 2013


If you haven't seen up until now my last update on Silver I strongly suggest to check it out here: Metals Outlook. Silver Leading The Way Down because that's key to understand why gold is going to follow silver and break lower.
In my last update about gold, and you can check that blog post here:Gold Double Inverted H&S Bottom? I was arguing that on the daily chart we may be developing an inverted H&S pattern which was never confirmed as we need a break of the neck-line. Howe…
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VictoriaVika avatar
VictoriaVika 3 Окт.

Fell down each single day here, in my country... Gold price suppression is undertaken through naked shorting of the metal by bullion banks?

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AUD/USD Rectangle Pattern Projects 0.9800

Aussie has been moving for the most part of this summer in a rectangle pattern(see Figure 1) which project a target of 0.9800 once we have a break and a close below the support level of 0.9200. If we measure the range between the 0.9500 round number and resistance level and 0.8200 support level we have an 300 pip range which projected to the upside gives us the 0.9800 target level.
Figure 1. Aussie Daily Chart.
Also based on Elliott Wave since beginning of last year (see Figure 2) au…
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Daytrader21 avatar
Daytrader21 24 Авг.

Update 1: as expect we had a final spike lower towards 0.9200 support level where the market found some strong buyers and we had a rebound. We're under way to develop the last wave "C" of this correction. Before to continue pushing higher we can expect some pull back towards 0.9280 where the market should find support. Next resistance for the next week stands at 0.9370

Daytrader21 avatar
Daytrader21 30 Авг.

Update 2: As per my last Update we indeed push back to retest the 0.9370 intermediate support level which confirms that our projection is on the money. Now we can say that wave C is developing as momentum has started to push higher but as long as current low volatility stay in place expect a slow market.Nex intermediate resistance for next week is 0.9415

Daytrader21 avatar
Daytrader21 6 Сент.

Update 3: Although we took another dive towards 0.9270 the market quickly reverse confirming once again that buyers are in control of this market. Wave C can take multiple form and my expectation is for a 3 more upside legs where wave a and c of wave C would develop 3 waves of lesser degree and wave b only 1 wave making a total of 7 upside waves. So we should be able by the time we complete wave C to count 7 wave from low to 0.9800

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