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AgeKay

The Secret (or Not) to Day Trading Futures

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Every large move is made up of smaller moves. You exit the trade when the momentum slows down. How do you know when to exit your "swing" trade?

 

Read my thread and you'll have your answer.

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Folks,

 

The object of trading, whether it be day trading or otherwise, is to make as much money as possible in the time one devotes to the business. If you want to make a living at this as a day trader, that means you'll have to earn enough money to cover your losses, your living expenses and your savings/retirement income.

 

The reason that 90-95% of traders fail is because they don't earn more than they lose (obvious, but important).

 

If you're reading this and you are one of the losers in the business, maybe its time to rethink your approach. Why take a momentum-based approach for peanuts (unless you can trade major size) when you can trade consolidation breakouts, intraday, for 100, 200, even 300 ticks at a time? (This is why I trade gold and crude oil; they routinely move like this)

 

Many people on this site will confuse the average trader with so much BS that its no wonder most fail. Simplicity is KING in trading.

 

If you're looking for a simple, yet highly effective approach to trading, read my thread:

 

http://www.traderslaboratory.com/forums/technical-analysis/9764-what-really-works-technical-traders.html

 

and apply the insights I provide their. I have received many emails from traders that have improved their results using the information in that thread.

 

Are you on this site to make more money or not?

 

 

Luv,

Phantom

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phantom, your thread has not much to do with what I wrote here, but still you made three posts were you tell people to read your thread. I think everyone understands now that you want everyone to read your thread. That's ok, but please stop referencing it in my thread as it adds nothing to this discussion.

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phantom, your thread has not much to do with what I wrote here, but still you made three posts were you tell people to read your thread. I think everyone understands now that you want everyone to read your thread. That's ok, but please stop referencing it in my thread as it adds nothing to this discussion.

 

AgeKay, my thread has everything to do with this discussion. The discussion is all about day trading "secrets," which in my mind translates into "How to improve your trading using things that aren't talked about very much." Just because you've allowed yourself to change that into "How to trade only using the book..." doesn't mean that my thoughts are insignificant to the discussion. We are here to enlighten traders who need help. If that bothers you, I apologize.

 

 

Luv,

Phantom

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No, this thread is not about day trading secrets. It's just a secret to the retail world that this is how most professional traders trade that are responsible for a significant volume of the futures markets. Anyone who trades in a prop firm knows about this, so it's definitely no secret.

 

And this thread is not about chart patterns like "hammers" or "dojis" and not about indicators like "MA" or "MACD" what your thread is clearly about. You give simple concepts like S/R turning into R/S after breakouts fancy names like "price rejection" that also is no secret to anyone.

 

This thread is in fact only about trading with the order book and nothing else, and it does bother me that you pollute my thread with your irrelevant posts. I've read you thread and have a different opinion on many things, yet I refrained from making any posts there, so please do the same here.

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No, this thread is not about day trading secrets.

This thread is in fact only about trading with the order book and nothing else.

 

Then you should have called the thread "How to scalp like a pro" instead of "Day trading secrets."

 

I will not post to your thread anymore. Sorry for ruffling your feathers.

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phantom, your thread has not much to do with what I wrote here, but still you made three posts were you tell people to read your thread. I think everyone understands now that you want everyone to read your thread. That's ok, but please stop referencing it in my thread as it adds nothing to this discussion.

 

Im glad Phantom referenced his thread considering his shares and yours shares nothing but ambiguity.

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Im glad Phantom referenced his thread considering his shares and yours shares nothing but ambiguity.

 

I am sorry you feel that way. It might seem ambiguous compared to charts because it's a lot easier posting a few charts and saying "look here, this looks like that so you do that" or "do this when this line crosses that line" but trading isn't that easy. There is so much going on. You need to take it all in and consider everything that has happened before and what happends next. I would never be able to explain every facet of it even if I wanted to. I just received a PM asking me about one of my earlier posts. I quote this post here so you get an idea of what goes on in your head when you trade this way:

 

I give you an example of a trade this morning in Bund where I was sure what was going to happen. And I was right - to the tick on both the entry and exit. Bund and Bobl trading down slowly. Big bids in Bobl and offers keep getting lifted but it just won't break the high of the day in Bund at 122.59 which held 6 times. Big bids in Bobl but it just keeps going down, slowly. Meanwhile Bund should have been trading much lower but doesn't. Bobl is bid 2500 contracts at 116.63 and trades 11,000 contracts at 116.64 and only 164 on 116.63. Similar thing happening in Bund: trades 6,200 contracts at 122.54 and 1,600 at 122.53, 122.53 goes offer but no one wants to sell even one contract at 122.52. Why not? It's highly likely that this is as low as the market is going to go based on how many contracts traded and the huge bid in Bobl. So no one wants to be the one who sells the low of that move in either Bund or Bobl. So everything is telling you to buy. So you go long 122.54 or even 122.53 if you were lucky to get filled. Then Bobl is offered 116.64 for some, still no one wants to sell 116.63. Then you see 116.64 offering 1500 contracts to bully long traders into panicing and taking out that huge bid of 2500 on 116.63. It works: some one sells 50 contracts into 116.63 and its bid only 1000. But remember there is one guy who just bought 11,000 contracts in Bobl and probably a few thousand also in Bund and he was bidding 2500 below that. So the big guy cancelled 1500 contracts because some one sold only 50 contracts? No, because half a second after he cancelled his 1500 contracts he just lifts the entire offer at 116.64. Get it? He didn't really want to get filled on 116.63. He just posted this bid to keep the price up. And when he got challenged by the big offer, he quickly made sure that no one who was long had to worry about his position thereby avoiding traders puking into his bid and making him lose. Sure enough, everyone who was short and saw that knows their fucked and start puking. Market goes higher. This is the momentum the market needed to break the high of the day that I was waiting for. I know that after having traded so many contracts and having seen what I have seen that the market should move about 10 ticks. I don't remember the price in Bobl, but I do see a huge offer in Bobl a few ticks away and at the same price level in Bund (122.65) also. And sure enough it trades 5000 contracts at 122.64 and a few on 122.65 making it the high of the day for the next 15 minutes trading in a narrow range (where the long big guy probably dumbed his position). See, I risked 1 tick to make 10. Talk about risk/reward ratio. And I was sure it was going up. It did trade even higher (trading 166.77 now) but I don't care, I reached my daily target. This is what you have to look for. This is what goes on in my head. See why it's so hard to describe using words?

It's all psychology. Who has the most money? When are traders going to puke? If they do, how far will that move the market?

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AgeKay, do you trade ES? Given that the volume there is typically 5x or so higher than the Bund and 10x more than the Bobl, isn't it a bit more challenge to identify the players when the market trades so much more volume?

 

I think the deal with charts is that for me, they give a frame of reference. Too many people trade blindly on the chart alone; I simply am not trained enough yet to make much sense of the orders on the book; however, no one can hide their traded volume, and this is what I use through look at time and sales and a simple volume histogram (both per bar/time and at price).

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AgeKay, do you trade ES? Given that the volume there is typically 5x or so higher than the Bund and 10x more than the Bobl, isn't it a bit more challenge to identify the players when the market trades so much more volume?

 

No, I don't trade ES. It's not the volume that is the problem, but the "noise". It's correlated with so many markets, it's much harder to see what is directional trading or just spreading or hedging. I think bond markets just move a lot cleaner than stock markets, but it's certainly possible to trade them using only the order book.

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It is very interesting to me. Feels like I was looking for this for a long time. My question to you - have you practiced all this and if you did for how long and what you have learned, accomplished and.... are you winning or losing the "game"?

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This thread is quite a bit missleading by saying that you can be successful only by using this or that technology.

 

To be succesful in this business is nothing to do whose technology you use as long as they have the needed quality. This is because of every platform shows the same data. I am talking about the trading which goes through the exchange (OTC business is different). Today there is plenty of alternatives who have the needed quality. TT is only one of them.

 

Also it is missleading to teach that by trading the depth data, order flow and volume is the only way to go. There is no right or wrong way to trade ("professionally" as you say). Only thing which counts is are you profitable and by what kind of risk. In the right hands everything is the right way.

 

So "the secret to day trading futures" is not in technology or system/methods you use it is in "have you found the components which works for you".

 

The main problem for the people is that they don't or do not want to understand how much time, work and experience it will take to find the right system. For most of us 2-3 years is definitely NOT enough.

 

After all what you said about the TT it really is a good technology and for many traders trading the book/volume is profitable. But there is also a bunch of traders who are loosers and using these things.

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...The main problem for the people is that they don't or do not want to understand how much time, work and experience it will take to find the right system. For most of us 2-3 years is definitely NOT enough.

.

 

I really thought when I started trading in 2006 that it would be easy for me and I wouldn't have such a long learning curve. This was my ego talking. I have always been successful in the things I choose to do throughout my life - so why not trading?

 

Well, I agree with this post. It took me longer than 2-3 years to become profitable. And even now I struggle at times to accept the risk and avoid the self destructive behaviour that dogged me for years.

 

Technology is a requirement - but is insufficient. It's a cruel fact that things will go wrong at the worst moment possible. (At least, that's what you remember because when they go wrong at times that don't matter, you don't event think about it again.)

 

Example: Flash Crash. My platform almost completely froze during this event and all I had to "watch" was the time and sales. I got caught with too many charts open and the volatility and volume spiked so much that the platform was unable to catch up. I have made changes and improvements since - but I still remember thinking if I were on the wrong side of this I would have been in serious trouble.

 

So yes, having a backup plan, having an alternative, reducing risk in every wau possible are requirements but again are insufficient to produce a consistent profitability.

 

 

It takes time - screen time - trading time - mental time - and then it finally starts working and then you build, slowly, consistency and confidence. Then it's very good.

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Hi,

 

It also takes a great amount of reading and investigation on what you are trading because the platforms cannot do that for you ( even though the tell you.). I thought 15 years ago that this would be a snap.

 

I also forgot that when I spent $10,000 on a great system the instituitionals spend billions and have super trades at their disposal.

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Hi,

 

It also takes a great amount of reading and investigation on what you are trading because the platforms cannot do that for you ( even though the tell you.). I thought 15 years ago that this would be a snap.

 

I also forgot that when I spent $10,000 on a great system the instituitionals spend billions and have super trades at their disposal.

 

-----

There is a big hand in the market I believe-

Observe when that big hand comes in and trade along with it-

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OK I dont have much experience in these forums. Followed the markets all my life. traded emini options and contract, even before emini. breakeven. used footprint charts as well as candles, breakeven. Knew there was something more. Yep, except for the footprint when used with the DOM charts are useless. Yes I like a picture of where we've been, swingpoints, general trend, but beyond that there is no value in the charts. There are no rules, no magic formula. Only you. Still working but I have turned the corner. My trade ratio is in the low 60% winner. It does work and it will take time, however if you read the tape and throw out your bias (except the bias of the trade you're about to enter), then you will become profitable and will continue to improve that profitablitiy. Two sites, zigsawtrading.com and nobsdaytrading.com. Visit them, read all the free stuff. I bought the zigsaw DOM (very cheap for what it does). Bought the $50 course on nobs. The rest you have to learn.

This game is hard but easy at the same time. You will see how the pros trade. When you get right down to it you need to determine when and where the boys want to play, determine where the volume is being accumulated and go with it. Accumulation most always ocurrs before the move. You can see it. Then feel how strong and adjust size and enter. Only two outcomes. I also average in and usually all out. If I see accumulation at say 1690 down to 1688 then a quick drop to 86.75 (stops) but bounce right back with market orders I put on another trade to average down, then when / if the move happens as soon as it slows or stops I'm out. Fine line but is working very well. You just get a feel and that's what trading is the feel and nothing can give it to better than watching the orderlow.

 

My 1.5 cents.

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Dealing with the previous comment. A couple of things to think about

 

First, while it IS true that one can find S/R and put on a position (scaling in) as it retraces...YOU MAY WANT TO CONSIDER....that this is how a legitimate reversal looks to traders on the other side...and those traders may have something YOU don't have (more size going the other way).....

 

What matters is time frame and context....always.....once you understand that big players operate on specific time frames, THEN you can put yourself in the right place....and the previous comments about volume, about retracements and scaling in and out, have real value.

 

There is a key....its understanding the broad market in terms of time frame and in the context of significant events (economic reports, earnings, etc)...when you put the two elements together you eventually (if you are a good observer) see how the institutions and commercial players make decisions to put capital to work....then you start to see accumulation and distribution and finally the picture becomes clearer..

 

and for those who think just asking me "what is the proper time frame" will fix their problems its not that simple....its not just time and its not just context.....its the integration of the two that matters....become a good student and a good observer of the markets and you might get where you want to go...

 

Good luck

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Dealing with the previous comment. A couple of things to think about

 

First, while it IS true that one can find S/R and put on a position (scaling in) as it retraces...YOU MAY WANT TO CONSIDER....that this is how a legitimate reversal looks to traders on the other side...and those traders may have something YOU don't have (more size going the other way).....

 

What matters is time frame and context....always.....once you understand that big players operate on specific time frames, THEN you can put yourself in the right place....and the previous comments about volume, about retracements and scaling in and out, have real value.

 

There is a key....its understanding the broad market in terms of time frame and in the context of significant events (economic reports, earnings, etc)...when you put the two elements together you eventually (if you are a good observer) see how the institutions and commercial players make decisions to put capital to work....then you start to see accumulation and distribution and finally the picture becomes clearer..

 

and for those who think just asking me "what is the proper time frame" will fix their problems its not that simple....its not just time and its not just context.....its the integration of the two that matters....become a good student and a good observer of the markets and you might get where you want to go...

 

Good luck

 

Thank you Steve. I do agree totally with your assessment there. I have a protfolio that I trade and do fairly good. That's real money and my savings so I'm very careful. I love fast money, record and watch every day. They are on it. If I'm interested in a stock I might sell puts to enter or just buy, but always averageing in.

 

As much as I agree with you on the macro and the time frame, daytrading is different. It really is. Look at the charts of the S&P cash. intraday moves and range. The daytrader's job is to make money out of those moves. When the big boys come in, the only way you see it is on the tape, or should I say the fastest way to see it. Volume and accumulation moves the markets short and long term. The big boys are averaging in and out and playing with a very small percentage of their overall positions. They are picking up money daily trading the markets, otherwise fundamentals would be the only driver of prices. It's not on the short term. The S&P move from 1702 back to 1689 doesn't reflect the fundamentals at all, but a move to 1500 would, or a move to 1750 would. It's inbetween where the daytrader has to play.

 

Currently I feel we're at a top, I'm out of stocks but in a few other things. Could be right could be wrong, but whether I'm right or wrong doesn't tell me if the emini market will open up or down tomorrow, and if it will go back to 1700 or trade down to 1675, but the tape (trading action) will give me a clue. And whatever it does is just trading in those 7 hours and becomes part of the context of the overall trend, wherever it's heading.

 

Do agree at all with that logic, because what you said is very relevant and in fact very interesting.

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    • Date : 18th January 2022. Market Update – January 18 – BOJ Stands Pat.Asian markets weaker as BOJ stays put (-0.1% interest rate) with stimulus package intact, raises inflation target to 1.1% and growth to 3.8% for 2022. Kuroda: “Will ease monetary policy without hesitation as needed, there has been a notable improvement in the economy.” USD firmer, Yields moved up with US 2-yr over key 1.0%, 10-yr over 1.8%. Oil higher – Saudi’s retaliate, attacking Yemen and Gold holds at $1815.   USD (USDIndex 95.25) holds on to gains from Friday, pushing to 953.8 earlier. US Yields 10-yr moved higher again and trades at 1.818%. Equities – US closed yesterday. Nikkei -0.27% – USA500 FUTS lower again at 4633. USOil – Spiked over $84.70 as very tight supply, Saudi’s retaliation on Sanaa and NK continued firing of missiles unsettles sentiment. Gold – holds at $1815 from a test of $1823. Bitcoin another down day, tested to $41,600, back to 42,200 now. FX markets – EURUSD back to 1.1400, USDJPY now 114.80 tested 115.00 earlier, Cable back to test 200hr MA 1.3620, +20 pips after UK jobs data. Overnight – UK Earnings in line at 4.2%, Unemployment (4.1%) and Claims better than expected. PBOC deputy governor says will keep yuan exchange rate basically stable.European Open – The March 10-year Bund future is down -19 ticks, Treasury futures are underperforming. Stocks across Asia struggled with the renewed rise in yields and DAX and FTSE 100 futures are also down -0.3% and -0.2% respectively. Inflation risks and central bank outlook will be dominating the discussion in coming months.Today – German ZEW, Empire State Manu. Index & Earnings from Goldman Sachs. Day 2 of DAVOS (on-line).Biggest FX Mover @ (07:30 GMT) CADJPY (again) (+0.34% again) Rallied all day over 91.73 (Thursdays high) and onto test 92.00. MAs aligned higher, MACD signal line & histogram higher & above 0 line. RSI 68 rising, H1 ATR 0.131 Daily ATR 0.804.Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report.Click HERE to access the full HotForex Economic calendar.Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!Click HERE to READ more Market news. Stuart Cowell Head Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Date : 17th January 2022. Market Update – January 17 – USD Holds onto gains.Big bank Earnings disappointed on Friday, the USD recovered from 8-week lows and Fedspeakers continued to worry about inflation as hawkish tones increased. Stocks recovered early losses, Yields moved up to close the week as Oil moved up and Gold moved down. China’s PBOC delivered the first rate cut in a while as signs of slow down persist and Covid cases once again spread.   USD (USDIndex 95.20) holds on to gains from Friday. Bouncing from 8-week lows under 94.60. US Yields 10-yr moved higher again to close at 1.772%. Equities – USA500 +3.82 (+0.08%) at 4662 as Financials weighed following Earnings from JPM (-6.15%) Blackrock (-2.19%) and WFC (+3.68) Tech & Energies lead recovery into long weekend. USA500 FUTS lower at 4652. USOil – Spiked over $84.00 as markets look beyond Covid spikes with very tight supply. Gold – settled at $1816 from a test of 1830 again. Now at $1822. Bitcoin support once again at $42,000, Friday, back to 42,800 now. FX markets – EURUSD back to 1.1465, USDJPY now 114.40 at 115.85, Cable back to 1.33680. Overnight – Chinese GDP and industrial production exceeded expectations, whilst retail sales disappointed. UK house price data from the Nationwide was strong. The Chairman of Credit Suisse has resigned due to Covid breaches.Week Ahead A Bank of Japan meeting which concludes on Tuesday, UK inflation data on Wednesday and Australian jobs figures on Thursday. Earnings from GS, BAC, MS, P&G, NetflixEuropean Open – The March 10-year Bund future is down -36 ticks, alongside broad losses in US futures, which points to a further rise in yields across Europe. Stock market futures are trading mixed, with DAX and FTSE 100 futures posting gains of 0.4% and 0.2% respectively, while an 0.4% decline in the NASDAQ is leading US futures lower. Central bank outlooks and inflation expectations remain in focus, the Fed is gearing up for a round of central bank hikes this year that will also impact the outlook for BoE and ECB amid hopes that the pandemic phase of Covid-19 will start to fade.Today – Little data from Europe & All US markets closed for MLK Day.Biggest FX Mover @ (07:30 GMT) CADJPY (+0.34%) Rallied from 90.50 lows on Friday to 91.37 (Fridays high) now. MAs aligned higher, MACD signal line & histogram higher & above 0 line. RSI 64 & rising, H1 ATR 0.121 Daily ATR 0.794.Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report.Click HERE to access the full HotForex Economic calendar.Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!Click HERE to READ more Market news. Stuart Cowell Head Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • GOLD FLUCTUATES BELOW $1,830 OVERHEAD RESISTANCE, MAY SLUMP TO $1,800 LO Key Resistance Levels: $1,900, $1,950, $2000 Key Support Levels: $1,750, $1, 700,$1,650 Gold (XAUUSD) Long-term Trend: Bullish Gold (XAUUSD) is in a sideways move but may slump to $1,800 low. Gold is retracing as it faces rejection at the high of $1,830. However, if price breaks the resistance level, the market will rise and retest the previous high of $1,860. Meanwhile, on January 14 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement suggests that Gold will rise but reverse at level 1.272 Fibonacci extension or $1,840.86. XAUUSD – Daily Chart Daily Chart Indicators Reading: Gold is at level 55 of the Relative Strength Index for period 14. The market has reached the uptrend zone and further upside is likely. The 21-day SMA and the 50-day SMA are sloping upward indicating an uptrend. Gold (XAUUSD) Medium-term bias: Ranging On the 4 hour chart, the Gold price is in a sideways trend. The gold price fluctuates below the $1,828 overhead resistance. The sideways trend has been ongoing since December 21. Each time the market retest the overhead resistance, the selling pressure will resume. The current downtrend is likely to extend to the low of $1,804 before upward. XAUUSD – 4 Hour Chart 4-hour Chart Indicators Reading XAUUSD is below the 80% range of the daily stochastic. The market is in the bearish momentum. The 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend. General Outlook for Gold (XAUUSD) Gold’s (XAUUSD) price is declining as it may slump to $1,800 low. The market is fluctuating below the $1,828 resistance zone. The Gold price is falling to the downside. The upward move will resume if price finds support above the $1,800.   Source: https://learn2.trade 
    • USOIL REACHES AN OVERBOUGHT REGION, MAY FACE REJECTION AT $85.39 Key Resistance Levels: $80.00, $84.00, $88.00 Key Support Levels: $66.00,$62.200,$58.00 USOIL (WTI) Long-term Trend: Bullish USOIL has been in an uptrend but it may face rejection at $85.39. The index is retesting the previous high of $85.39. In previous price action in October and November, the bulls failed to break above the overhead resistance. Meanwhile, on December 9 uptrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that WTI will rise to level 2.0 Fibonacci extension or $81.61. From the price action, buyers have broken above the Fibonacci extension and have reached a high of $84. USOIL – Daily Chart Daily Chart Indicators Reading: USOIL is at level 70 of the Relative Strength Index period 14. It indicates that the index is in the overbought region of the market. The current uptrend is likely to face rejection at the recent high. Besides, sellers will emerge to push prices down. The index price is above the 21-day SMA and 50 –day SMA which indicates a further upward move. USOIL (WTI) Medium-term bias: Bullish On the 4-hour chart, the index is in an uptrend. WTI price has broken above the resistance at level 83.00. Meanwhile, on December 12 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that WTI will rise but reverse at level 1.278 Fibonacci extension or $84.22. USOIL – 4 Hour Chart 4-hour Chart Indicators Reading The index is above the 80% range of the daily stochastic. The market has reached the overbought region. Sellers are likely to emerge to push prices down. The 21-day and 50-day SMAs are sloping upward indicating the uptrend. The uptrend will continue to the upside as long as price bars are above the moving averages. General Outlook for USOIL (WTI) USDOL has reached the overbought region of the market but may face rejection at $85.39. The current uptrend is likely to terminate at the previous price level of the market. WTI is trading at $84.39 at press time. Source: https://learn2.trade 
    • ANNUAL FORECAST FOR EURJPY (2022) EURJPY Annual Forecast – Price Is Set to Scale New Heights With a Bullish Flag Formation The annual forecast for EURJPY is for it to scale new heights, having conformed to a bullish flag formation. The bullish flag formation, an offshoot of the triangle pattern, began towards the tail end of 2020 as bulls began to exercise dominance in the market. The market began to recover from the 116.910 support level in May 2020. It pulled back when it first hit the upper border of its triangle pattern and surged through it at the second time of asking, thereby leading to the creation of the flag pattern. EURJPYJPY Significant Zones Supply Zones: 134.150, 140.650, 149.010 Demand Zones: 113.920, 116.910, 127.630 EURJPY Long Term Plan: Bullish A bearish impact is visible annually in the market, notably since 2013. Every time EURJPY makes a bullish move, the move is cut off prematurely and it always leads to a plunge back around the 113.920 demand level. This happened from 2013 to 2016, and then from 2017 to 2020. The result is a triangle-tapered market structure. By June 2020, the price hit the 116.910 demand level and began another ascent, but this time, it eventually broke the triangle pattern on 2021 New Year’s Day. The flag pole was formed as the price surged from 120.920 and was stopped abruptly at 134.150. Subsequently, EURJPY began cranking through a downward channel. This continued into the year 2022. The market forecast is for an upward liquidity flow. The upward signal of the MA Cross is still very valid. Meanwhile, the Moving Average Convergence Divergence indicator is showing dwindling bullish bars. This is due to the downward ranging in the market. Its signal lines remain above the zero level. EURJPY Medium Term Plan: Bearish In early 2022, prices are set to drop after hitting the upper border of the ranging channel. The MA Cross is directed down-sideways to show the undulating nature of the current market. The same can be said for the MACD indicator. The annual forecast is towards the end of the year 2022 into early 2023 when the bullish flag pattern is anticipated to drive the market upward towards 140.650. Source: https://learn2.trade 
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