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Hey guys,

I originally planned to do my entire weekly analysis in the one blog, but I’ve removed forex and will instead split today’s weekly market preview into two.

Here are my initial thoughts on Indices, Commodities and Cryptocurrencies. Stay tuned later for a dedicated Forex market preview.

😎.

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Indices Markets

Jesus Christ, look at this weekly candle:

SPX Weekly

And then look at the zone inside of which, that it formed.

I don’t think that it was possible for a candle, in a market that is turning to a bearish trend, to have closed any better for shorters. **This is setup for the mother of all shorts. Like fuck, I can’t even...

SPX Daily

Just make sure that you’re getting amongst this coming week.

Now the daily doesn’t seem like much is on right now. But when price gets below that zone, the retest will get hammered by sellers.

Be one of them.

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Commodities Markets

Another quick look at Gold and the higher time frame zone I want price to trade in to put us in play to short is nowhere near the market, so meh:

XAU/USD Weekly

I’m not even going to post a daily because I don’t want to be tempted to trade a market outside one of my weekly zones, but...

If you were that way inclined, the buyers are still in charge and that zone is surely going to act as a magnet to keep sucking price toward it. The momentum is certainly still there.

Moving forward with commodities markets and a look at last weeks most frustrating missed trade, the oil setup that never triggered.

It’s the same concept that I spoke about around Gold above, with Oil being sucked toward the weekly zone like a magnet:

CL Weekly

But the difference between that Gold setup and the Oil setup is the ascending triangle breakout on this daily chart:

CL Daily

That level is still in play, but as I alluded to in that blog I linked to above, we might have justtt missed the boat.

Frustrating sure, but that’s trading.

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Cryptocurrencies Markets

Finally we come to crypto. Just tell me, how good is it that we’re seeing green weekly candle after green weekly candle. Out of support too, mind you:

BTC/USD Weekly

With price coming up to this red resistance line AGAIN, there is certainly a battle to waged:

BTC/USD Daily

But the real battle is going to be waged in that blue zone on a pullback.

If it does in fact pull back to there, that’s a possible trade where we can make serious bank getting in on a breakout early. Because if it does bounce and break out, you’re already in. You don’t have to worry about stops around the breakout point.

Watch that one. It really gets me excited.

Finally, fuck ETH. It’s still in the no man’s land that I spoke about on last week’s weekly preview blog, so I’m going my boy Dan Larimer’s baby, EOS:

EOS Daily

I can’t do an effective weekly because the coin is too new, so there’s the higher time frame zones on your daily.

I blogged that EOS intraday trade last week and as you can see it’s just continued to tear faces off.

This coin is the bomb. You buy, you HODL and you get very rich when the proper repricing towards ETH levels happen.

It will happen. Mark my words. You want to be in when it does.

✌🏻.

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@forexbrokr | Steemit Blog

Market Analyst and Forex Broker.

Twitter: @forexbrokr
Instagram: @forexbrokr

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