Abigail Doolittle’s Post

23Jan,2024 TUE Good Morning Traders, How are you? Hope you are doing great. I am not expecting much from the Market (due to some factors) However, I might SELL #USDCHF ( now at 8660 ) in today's session (low probability trade). #dxy #forextrading #priceaction #PMEX

#platinum prices bounced sharply off 1 year low touched on Wednesday, prompting traders to book some profits on their short bets. 🟢The metal finished the week flat at $915 per ounce, but gained 3.35% since Wednesday. 🟢 From July 25th to Aug 17th, 20.5K contracts have been added while platinum was down 8.4%. Since the last two days Open Interest have decreased by 1.3K contracts. 🟢 Speculators reduced their bearish bets on strike (880/900) Oct'23 contract 🔴 Money managers increased their net short position to 13,285 contracts from 8,434 a week earlier, establishing their most bearish stance since August 2022. 🧐👀 🔎Levels to watch: 🎯$900 remains a strong floor for the metal (put wall) 🎯$930/570 will be the next level to the upside. #bullion #preciousmetals #optionstrading #commodities #cot

*CC COT Update 9/11/2023: Specs Test the Highs, Swap Shorts Knocked Out* The market is positioned near the highs in the cocoa market and the specs added on both sides, but primarily longer on a net basis (+2k Net, +3.3k longs and +1.3k shorts). The commercials took the opportunity to sell and close out long positions (-6.5k net from -3k longs and +3.5k shorts) however this was mitigated somewhat by the Swap positions which got longer through Shorts that were likely knocked out. The swaps are much smaller proportionally then the commercials so this is a substantial change week on week. The large change in swap positions often suggests a "knock out" which has implications on price expectations. Essentially, large traders (usually commercials) put on accumulators that acquire futures based on the underlying price action. The trader receives short futures regularly so long as a certain upper price level is not hit. These positions are hedged in the futures market by the swap dealers and when these structures knock out (the price level is reached and the trader no longer collects futures), the hedges are lifted. What this means is that many exporters and short hedgers believed that prices would not reach these levels and they did. This makes sense as the market is testing the highs. Going forward, although the specs are near max long positions on a net basis, they are middle-of-the-road on a gross long basis. This suggests that have room to push the market higher if the new highs are breached.

EUR/GBP is moving up to a gap in the price charts formed when prices were rapidly selling-off earlier in June. There is a possibility it could fill the gap if it continues higher. Price almost got recovery near the vertical support of descending channel in bearish trend which is a sign of bullish momentum in short term and we may see a move towards the channel vertical resistance. Here retest of small time frame zone is important and also price has formed a reversal pattern of head and shoulders in 4H timeframe. Yet its neckline not break after it's breakout a good impulse may see in lower timeframe. #scalping #daytrading #trader #forextrading #forexsignals #forextradingtips #forextips #trading #trending #likes #connections #bullmarket #forexbroker #jobs

Gold Price Forecast: XAU/USD snaps the three-day losing streak near $2,060 Read the latest critical news here: https://mytd.cc/7Wnf CFD - retail client accounts generally lose money. #tradefaster #tradesmarter #Mitrade #ForexTrading #MarketUpdate #FinancialInsight

Big downward shakeout in ICE Nbr 11 sugar this week   Sugar Nbr 11 March 2024 settled at 25.09 this is lowest settlement for the March contract since August 31,2023 when March settled at 25.06. On the week March lost 189 points or 7 pct, HK lost 40 points (32.5 pct) as it moved from 123 over last Friday to settle at 83 over today.   Futures volume today was 304,678. Largest volume since June 8 when 349,787 lots traded. Options volume was 98,891 which is the largest option trading volume since 98,000 lots traded on April 27. Frank Jenkins observes that technically, spot sugar rallied from 21.81 on June 29th to 28.14 on November 7th. The 50 % retracement of the move (24.97) was tested today – the jury is still out. March #11 though lost 189 points on the week. The HK spread traded 169 over on September 5th and 142 over as recently as November 11th. Friday the HK traded from 100 to 73 over and last at 83 over. Be careful out there!!

My Thoughts On GU (1hr TF) Today we saw price breakout from the ascending triangle pattern to the downside giving us good shorting opportunity and a buy back to the broken triangle trend line. We now have price trading in somewhat of a rising wedge pattern which is usually a bearish reversal pattern, characterized by price tightening at the top. If we continue to see price trade within the wedge and tightening at the top, I'll be expecting a bearish reversal on GU. Please always remember to stay open minded as price action is dynamic and anything can happen at any time. #gbpusd #gbp #usd #exness

Gold Price Forecast: XAU/USD hovers around $1,925, posting modest losses. Read the latest analysis here: https://mytd.cc/644f CFD - retail client accounts generally lose money. #tradefaster #tradesmarter #Mitrade #ForexTrading #MarketUpdate #FinancialInsights

Coffee Futures Went Up By Over 13% In The Last 10 Sessions (VIANEWS) – Coffee (KC) has been up by 13.03% for the last 10 sessions. At 13:51 EST on Tuesday, 7 November, Coffee (KC) is $171.30. Volume Today’s last reported volume for Coffee is 695, 96.57% below its average volume of 20296.09. Volatility Coffee’s last week, last month’s, and last quarter’s current intraday variation average was […] https://lnkd.in/dz6BCHKH - Read more.

Gold Price Forecast: XAU/USD loses momentum below $2,000! Read the latest critical news here: https://mytd.cc/6lNK CFD - retail client accounts generally lose money. #tradefaster #tradesmarter #Mitrade #ForexTrading #MarketUpdate #FinancialInsight