Hello, traders!
🔺 From the previous week, only Oil (CL) went strongly according to my view. The trendline was broken and the price fell down like a stone. Who trade volume profile mirror levels — sell entry point could be on level 108. I really did not find a clear entry point for myself, as expected one more impulse breakout with HFTs’, and so did not use this sweety movement.
Then we saw the sharp rejection of low prices, as always, after stop-loss hunting and involvement in shorts under level 100. And then 3 waves move back to 110 which is ended with new HFTs’ on top, and new Call options block trades at the same price level as the previous one. Of course, I don’t like such double tops for shorts, love to play more with one-touch levels. So I think not to fight with bulls in such cases. Rather, I would even buy in this situation from the level of 107 if there is a correction. (See)
🔺 Also from the previous priorities, I want to measure Nasdaq (NQ). The price removed many stops and made several involvements in shorts, but only the last one was worthy to be measured. Take attention that OI grew sharply the previous week during the drawdown, it is fuel for volatility, and I have no dought that the price will go higher next week. (See)
🔺 Also, we had huge Put block-trades on S&P500, which also tell us about the uprising potential in American indices. (See)
🔺 Gold (GC) is one more opportunity for buyers! We have not seen such a strong imbalance over a long period of time. And I think that target for short-term buyers is at least 1840, but in fact, bigger timeframes are in the game now and we can see the movement to 1960. We have so strong CDV vs CDQ divergence here. Funds continue to close buys and open sell positions. But in fact, such a strong
local imbalance is for me more important than COT data. (See)
🔺 As I wrote to TVT Traders channel Silver (SI) has the same potential as gold does. After significant block trades and local imbalances — stop loss hunting and false-complicated involvement. So now we have the potential to achieve a 22 price level or even higher. (See)
🔺 Euro (6E) now is approaching 6 year low, which we can observe on a weekly chart. On the lower time frame, we saw an interesting imbalance. I bought this pair despite the weekend and expect a pullback at least to break out HFTs’, but in fact, the real potential is much much higher.
The pair is heavily oversold so correctional movement will be highly probable. (See)
And the same story I expect with the British pound (6B).
As a result, my trading priorities are:
Gold (GC) — buy
Silver (SI) — buy
Euro (6E) — buy
British Pound (6B) — buy
Nasdaq (NQ) — buy
Oil (CL) — sell to 107 and then buy
I really did not make any trades during the whole week till Frіday when real bullish potential movements were created.
I hope next week will be wonderful for us!
Sincerely, Taras Sviatun