More context to the S&P idea. The overnight selloff left a BSSP at 6,283, which is where the move began. There's a decent chance the market tags this area before sellers potentially step in again. The key word there is "potentially". Obviously any shorts are against the trend.
Just watching for now.
GBPUSD first single print tagged. I've been discussing these as potential targets since the 3rd. These areas became viable targets on the July 7th close below 1.3630. See the last couple of videos.
There's another at 1.3452. Let's see.
Glad I got out of my gold short near BE yesterday. It was the right call. Probably should've longed the $3,322 reclaim. Perfect retest on the next 4h candle.
Now approaching that unfilled gap at $3,369. Good chance sellers look to defend that area.
USDCAD potential "W" bottom forming. There is a SSSP at 1.3620 that could come into play next week. We also have resistance in the 1.3740 region.
Ideally we see the pair clean up that SSSP for an early buying opportunity next week. Not sure we get there though, especially if the DXY breaks 97.70. We'll see.
One really interesting point here is that the BSSP at 1.3914 is the exact projected target of this "W" formation, or double bottom. They're essentially the same.
Nice move so far from WTI 👌
Expect some resistance at those recent lows around current levels.
And Lastly,
Gold just filled the June gap 👌
