APR 26 – MAY 1 WATCH LIST




S&P500: Double Top

Short term sell

US30: Short Term Sell Then Buy

Looking for a pull back to retest trend line which is also at the 50 fib. Look or some bullish price action at that level to confirm the buy.

GOLD: Bullish Flag

Bulls are definitely still in control but would like to see a pull back to retest the trend line which has a 61.8 fib confluence. There’s also a 50 fib confluence at the major QP 1700. Either level would give a great entry for the next bull run. Need to see some bullish PA to confirm.

USDCHF: Ascendin Channel

Could get a retest of the large QP 0.9750. Safe entry would be to wait for the breakout.

GBPUSD: Bearish Flag

Looking for that 3rd touch of the flag resistance which has a 38.2 fin confluence.

GBPJPY: Bearish Flag

Price could go up to retest the flag resistance which also has a small QP confluence 133.750. To be safe you can wait for the breakout. I think it may drop to the next major QP at 130.00.

GBPAUD: Daily Trend Line Break & Retest

Expecting a retest of the large QP 1.95000 before continuing down. I think it may be heading to the next major QP 1.9000

EURAUD: Bearish Flag

Looks like sellers are still in control. Daily channel resistance failed to act as new support. We had a nice impulse leg followed by correction, forming a nice bearish flag. Price could push up to retest the major QP 1.7000. For safe entry, wait for the break of the flag.

AUDJPY: Short Term Buy Then Sell

Still expecting that gap to be filled. Got a tiny inverted H&S. Could take a short term buy aiming for 70.000 as TP target. Then wait to see if that level will attract sellers. If we get some rejection at that level, will be looking for a short opportunity.

Updated: April 27, 2020 — 10:58 am

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