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[GVI Forex 2]

XAUUSD 4 HOUR CHART – No sign of a top yet

Still no sign of a top with another record high at 2685.

As I have been saying:

When in unchartered record territory, resistance is only a guess so use the latest record high as the only level that matters. In addition, with no real resistance, the big figure like 2700 would be a potential target/pause level.

Another way to suggest a pause would need a day without a new high.

Support is now from 2650-2670..

[SF Monedge]

Also food for thought.  Money is coming out of USD for stock purchases on the good data.  Initially a beneficiary of the good vibe but then portfolio interest takes over for the larger scale participants.

[GVI Forex 2]

I was asked to define pivotal

Pivotal = sentiment indicator, keeps a bid bias while above, keeps an offered bias while below

Bias = market will look to buy dips or sell blips

When a currency, for example, finds a bottom or top, it will gravitate back towards the pivotal level, which will ultimately dictate it bias (trading tone).

[SF Monedge]

The more dominant cycle for UsdJpy is the buy side but it takes time for price to meet the outside orders which trace the momentum.  What is happening right now is there are pockets of large order beneath current market that are to some extent tracking the flow and fill upon retracements.  Very simple logic and quite logical.  The premises is that it would require considerable conviction to reverse established momentum.  The challenge for you is to ascertain where those orders might be if that sounds like a style that suits you.

[GVI Forex 2]

BTC 65556… scroll below to see our post

[SF Monedge]

If you are paying attention to the posts in here today, what is called a “neural network” is of high value when approaching markets of any kind regardless of the time horizons you prefer.  Google it.

[GVI Forex 2]

GBPUSD 4 HOUR CHART

‘
Ran into selling rather than stops after test (brief blip above) of yesterday’s 1.3429 high.

It’s been a straight line up today from 1.3355-60 so use 1.34 as a pivotal level with the high likely in for today.

[GVI Forex 2]

One of my trading insights is that when in a trend, a market needs a shakeout before making a run at a new high or low as there is less ability to absorb the fresh buying or selling.

Examples today are in GBPUSD and AUDUSD, yet to make new highs but nit that far away.

[SF Monedge]

Positive to negative volume in Dow fell off a cliff earlier with the ratio of advancing stocks at the NYSE at extreme levels, which usually amounts to stocks taking a bit of a breather.  This will directly affect EurJpy if selling takes root here around 16180-90.

[GVI Forex 2]

Scanning the board it looks like GBP may have been the main offset although the dollar is lower in general. Price action suggests market is having more trouble absorbing the GBP buying.

Also, stocks backing off earlier high after not swallowing the overnight Jamba Juice.

[michael Calif]

Law of Time has arrived at a turn lower for BTC.    :gtwo3

[GVI Forex 2]

Take your picks of the offsets (USD went down elsewhere)_ but in any case, 145 remains the bias setter (last 144.65).

[GVI Forex 2]

USDJPY is back to 145… when you see this currency move like this scan the board to see whether there is a cross offset in another currency.

[GVI Forex 2]

BTC DAILY CHART

BTC trying to wake up from its slumber where 65K is clearly pivotal

As Bobby posted late yesterday

Just my 10 cents worth… To understand BTC , one should go with the biggest time frame , and then use that picture to position him/herself on smaller intraday time frames. We have very interesting situation here – 5 days till months end and possible perfect pattern for a break UP . 63.480.00 is a pivotal – if closes above , most probably will break 70K and continue to new high around 80K Only below 63K we can talk about down.

[SF Monedge]

Possible break here, Dow could see 41960 if it holds.

[SF Monedge]

Some market components are dominant on the buy side of UsdJpy at about 65% so usually a bit of a lag should be expected before DX and UsdJpy stabilizes.  It could take until Asia or even later, or sooner depending on what participants need to do, but the odds are sustained delay.

[SF Monedge]

Keep your eyes on 100.84 for DX to have stronger odds of holding in my view.  Roughly.

[SF Monedge]

DX bounced right off of the 100.90 value I have been mentioning for days as a value magnet, I would not become too fired up YET about a significant $ rebound.

[GVI Forex 2]

AT Trading Alert – GBPUSD

For more info, see The Amazing Trader

[GVI Forex 2]

Weekly jobless claims, durable goods beat consensus.. USD up…sSee our Economic Calendar

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