Based on the Commitments of Traders data reported on: June 9th 2020
📊 In the Markets: It’s just about time to get involved in the markets. #GOLD is still at the highs and hasn’t yet dropped to the demand areas we have located. Instead on the monthly chart price continues to consolidate. Question is, after this consolidation will we get the pullback or will price continue higher? #OIL is falling short of hitting supply and pausing. We expect more upside is coming after this time of rest. There will be a good shorting opportunity soon but I don’t feel like that time is here.
regarding the dollar collapse that they predict is coming. This came as price was declining right towards a monthly area of demand which the institutions created. What happened? Price dropped after the article came out, right into the demand zone and then the banks started buying from all the selling that was taking place. Perfectly executed manipulation once again! The #DOLLAR remains within a monthly cycle as students are well aware.
The #USDCAD dropped from the higher timeframe supply we had mapped out. The forecast for the move lower played out perfectly and now we are preparing to enter in some long positions. We went through this trade in much detail within the Level 3 class where we analyze the details of the trade; we examined the risks involved and discussed argument for and against the trade idea. At this point the argument for longs outweighs the shorts and as price plays out we’ll continue to monitor price action and determine the probabilities at that time. Next week I’ll be placing in orders at key spots on the charts and posting those in the PORTFOLIO.
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