ย 

April 29th 2021 - Institutional ๐Ÿฆ Positions & Supply/Demand for Gold, Oil and the FOREX market

Based on the Commitments of Traders data reported on: April 20th 2021


#GOLD has been moving based on our expectations recently. We saw the base being formed and then the rally we spoke about has been formed. I also pointed out how the banks tricked retail traders to turn over their long positions to the banks right before they pushed price up to the 1780โ€™s.


Price is now approaching the daily supply zones and the descending trend line we spoke about previously, so moving into this coming week I will be watching to see if momentum continues or retraces.


#USD has contacted the monthly supply zone we had mapped out and now we are seeing a

strong push lower from it. The zone below I have coloured in grey is expected to be easily removed, should the momentum downwards continue. Then weโ€™ll have demand at the 87โ€™s to contend with.

The weekly demand on the #USD chart was indeed removed as we laid out last week.


#AUDUSD contacted the weekly demand and just as we had spoken about we got the move upwards. We have been saying that there is a very good chance we see price build momentum to the upside and move much higher. There is a lack of proper upside momentum on the weekly chart but other factors are building strong evidence for a move higher.


#EURUSD A lot of momentum is building on this chart as the descending trend line is now broken and the H4 trend is now upwards. Taking shorter term long trades could work out very nicely here with targets in the 1.22โ€™s.


#USDCAD this chart has surely taken itโ€™s time to produce some momentum to the downside but we are seeing that start to come through for us now. Would like to see the momentum continue so I can add more positions short.

๐Ÿšจ๐Ÿ† Win a FREE month tuition paid by us by following us on Twitter @WhiteOakFX and Retweet our links and SHARE our YouTube videos to continue getting them for FREE!


๐Ÿ‘‡๐Ÿ“บ๐Ÿšจ Watch a PREVIEW of what students receive ๐Ÿšจ๐Ÿ“บ๐Ÿ‘‡


0 comments

Recent Posts

See All