Based on the Commitments of Traders data reported on: June 16th 2020
📊 In the Markets: It seems like #GOLD is making a small move higher right now. We have seen multiple daily areas of supply become removed and this has opened the gates for a move higher. There is no telling how high price can go as we will soon be entering into uncharted territories. More upside is definitely in the works. As for #OIL, price is making its way higher, just as we forecasted using the #SHERLOCK system. We have upside targets at $45 at which point we will be expecting some downside momentum to take shape.
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. We also looked at the #AUDUSD in some detail and there exists a very strong argument for a move higher, targets of 0.75 are not out of the question over a longer period of time.
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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