Political news is once again the driving force behind the better trading set ups with Gold being the star performer last session. President’s Trump’s Tweets about Russia got this precious metal moving with a great trend line breakout, a continuation TC signal from the previous session and another TC signal that triggered off this new push higher.
Data: Watch today with the BoJ Gov Kuroda speech, the ECB Monetary Policy Meeting Accounts data and a BoE Gov Carney speech.
NB: this is just a brief update as I am reviewing my new TC site before the launch.
Trend line breakouts and TC signals:
Gold: This was one star performer! There has been a trend line breakout on the 4hr chart, a continuation of the 15 min TC signal from the previous session, now at 6 R, and a new 5 min TC signal that went for up to 14 R! This is bringing the key $1,380 and $1,400 levels into greater focus.
Gold 4hr: This has given 240 pips from the trend line breakout. The trend line was posted in my w/e analysis for ALL traders to stalk!
Gold 15 min: this TC signal is now at 280 pips and 6 R!
Gold 5 min: waiting for a new TC LONG after a breakout from the Asian session trading range gave a great 5 min chart TC signal for 220 pips and 14 R. God Bless Trump!
Other Forex:
USDX daily: lower again with the CPI miss so watch trend lines for any new breakout:
USD/JPY 4hr: looking weak but watch the monthly and 4hr chart’s 200 EMA for any new make or break:
GBP/JPY 4hr: paused at the 61.8% fib so watch for any new make or break:
GBP/USD 4hr: paused at the 4hr chart’s bear trend line so watch for any new make or break from here:
BTC/USD daily: still hovering near the key 61.8% fib. Plus or minus $2K from this 61.8% fib seem to be the norm here! Watch also for any ‘Double Bottom’ activity near $6,000:
