СME Futures Analysis 10.07.2022 + video

​​FIASCO in gold!

Good evening, Traders!

🔻  In previous analyses, I was very predictive about Gold (GC), the prediction was so strong, that I ignored to react on multiple ask HFTs’ that told me at least cut 50% of my position. In fact, I did even not exit from this position at breakeven and got a stop loss.

Now on these cheap levels, we see more distribution, as OI falls. I see block trades on options on the Daily chart, they rather often say about the potential reversal of gold.

But for now, on the 15 m chart the path of least resistance for gold is to the downside, but, 1750 is the key point where we will say for sure about trend reversal. (See) 

🔻 As opposed to gold prediction, the Swiss franc (6S) successfully reached the 1.25  target and even created a perfect ask HFTs’ for sellers. As you see the market is not so chaotic as someone used to think so. 

Take note of the strong attack of a big quantity of orders on June 28, CDQ fell significantly and we had an imposing divergence (See)



That was good signal that something interesting is expected soon.

Even OI rose that day and the next.

🔻 The Dollar Index (DX) now reached the local zone of support, and a very big amount of delta was accumulated. OI felt, and this means that bears were kicked out of the market. From the #COT perspective we see that hedgers closed 11% off their short position. Maybe some involvement in longs was on Friday as OI rose.

Be very attentive to 106.7 price level, in case of breakdown we will immediately reach 105.5 price level and lower. (See) 

🔻 And the Australian dollar (6A) is in a very important accumulation zone. This energy can give us some entry points. You can see how the price respected tick ask and bid imbalances before. So we can use if there will fake breakouts of this zone. (See) 

Have a nice Sunday traders!

📹 All details are in this 8 minutes video 

Sincerely, Taras Sviatun