On Monday, all members will receive their assigned levels. Sell Above Level: Focus solely on identifying sell setups. Buy Below Level: Focus solely on identifying long setups. Target: These levels indicate areas as profit-taking opportunities if reached. Please note that these levels are subject to weekly changes. Example = If the selling level is surpassed, we will search for indications of weakness before getting involved. CADCHFGBPCAD
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On Monday, all members will receive their assigned levels. Sell Above Level: Focus solely on identifying sell setups. Buy Below Level: Focus solely on identifying long setups. Target: These levels indicate areas as profit-taking opportunities if reached. Please note that these levels are subject to weekly changes. Example = If the selling level is surpassed, we will search for indications of weakness before getting involved. AUDCADAUDCHFAUDUSDCADCHFCADJPYEURAUDEURCHFEURJPYGBPAUDGBPJPYGBPNZDGBPUSDNZDCADUSDCADUSDCHFUSDJPY
USDJPYThis past Monday, we pointed our members towards a specific zone to explore potential long trading opportunities. That zone had previously marked a weekly low. During the release of the NFP report, we witnessed a quick rejection in this area. I personally foresee more upside potential in various Dollar pairs, and I'm including USDJPY in that outlook. BTCUSDWe've had a bearish view on BTC for a while, and we had identified 27244.45 as a potential area for further downside. Next week, we'll be keeping an eye on new price levels, considering them for potential entry points in case of any pullbacks. XAUUSDGold hit our level a few times before dropping just before the market close. Overall, it was a very quiet week for me personally due to it being month-end and the NFP on Friday, which meant I didn't take many trades. Nevertheless, members can utilize these levels in their own trading and use them as a great guide, as we provide the level and what we are looking to do, whether it be buying or selling, with an overall target also provided. Moving into September, we are forecasting a busy one here at Dominic James Trading.
XPDUSDOn Monday I shared the selling level I had in mind for Xpdusd with the members. As the week came to a close, we go the positive response we were looking for from that area. SOLWe decided to take our profits on Solana when it reached a previous weekly high. Meanwhile, we kept a close watch on Bitcoin, considering a potential selling opportunity. The trade its self was easy to get involved with as we deviated a previous weekly low and broke structure to the upside. BITCOINWe've got this trade still active in the members' zone, and we've set our stops at breakeven to safeguard our gains. It's a straightforward trade – we took note of the previous weekly high and combined it with resistance from a higher time frame, aligning well with our bearish outlook.
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AuthorDominic James Archives
August 2024
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