AN Engulfs Demand, GU Forms Supply

This week we’re looking for a number of potential shorts. Some are from supply and one is from an engulf which is just as valid.

AUDNZD – Short

AN has engulfed both of the potential daily demand levels we were looking at last week. Below those levels we have some profit potential so I’ll be watching the lower time frames for confirmation of a short.

2015-07-12 AN Short D1

CADJPY – Short

CJ produced a supply level last week and price has been heading back up to it. Price made a significant gap away from the level so there seems to be have been a significant imbalance. Definitely one to watch.

2015-07-12 CJ Short D1

EURJPY – Short

During the big fall in price on EJ a few weeks backs, price produced a drop base drop also with a large gap like on CJ. I’m watching this one to see if we get a reversal on return.

2015-07-12 EJ Short D1

GBPUSD – Short

GU has also formed a drop base drop on the daily chart and whilst there was a smaller initial drop than we normally see on these setups, there’s still over 100 pips to the next turning point so it’s worth watching.

2015-07-12 GU Short D1

Video

Detailed Analysis

Members can login to the forum for the detailed analysis which looks at the lower time frame levels we are watching to confirm entries. The detailed video analysis is here. We also analyse the markets for short term trades throughout the week. If you do not have access to this premium content then you can find out how to sign up here.

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