June 2nd 2019 - Institutional 🏦 Positions & Supply/Demand for Gold, Oil and the FOREX market
The positions below represent the institutional positions held as of May 28th 2019!
📊 In the Markets: The markets once again are showing an alignment that is unmistakable. We have the #dollar pairs dropping after being heavily aggressive with long positions and we have may other pairs sitting within demand zones like the $audusd and the $nzdusd pairs and they’re both having momentum shifts taking place to the upside. This type of information always plays a significant role in determining what bigger themes are in play with the institutions.
When you examine the data below and read the interpretation of their position adjustments throughout the weeks you’ll begin to have a picture painted that leads you to see how they are slowly shifting their momentum by the profit taking they are doing on their positions. You’ll notice that we have exited the theme positions at the most ideal moment before the shift took place. The reason we exited the positions were because price was hitting many road blocks and we could see that the institutions were becoming very aggressive with their positions and we don’t want to hold a long positions when they are already very aggressive with their longs because profit taking always comes next.
This time in the markets now becomes a waiting game because with profit taking, momentum is created but we don’t know how long it will last. We can make assumptions and try to determine the very next turning point but we are dealing with a distribution phase of the market and not an accumulation phase and we don’t want to be accumulating when they are distributing. They key thing here is we must keep an eye on their positioning to better determine when they will start adding to their positions again.
In the next few weeks I think the $usdjpy will be a good chart to trade. With higher timeframe force pushing downwards and weekly demand zones being removed, once price hits the months demand, reacts and then we spot momentum shifting back downwards, I think shorts will be a high odds trade. But remember the monthly demand is just below and we can expect a nice bounce from this area so waiting for the momentum shift down is essential. All $jpy pairs all show great potential for larger move downwards which support this theme in play. $cadjpy has also hit the daily target from the short signal posted back in March!
🎩 Magic Trader!
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