DAILY REVIEW 13 November 2015

Hi folks, not well so only did one today. Basically no change. Trapped positions will be taken out prior to the drop.


GU Analysis:

GU: Perspective: GU has closed below June's low 1.5169 and looks headed toward  the current monthly pivot 1.4564 as the next possible level of support/demand. The June close of 1.5701 becomes important as a supply level to overcome for higher prices.  

MONTH-  The candle is a below average (402pips) bull closing off the high on low vol>1month. The candle close and volume suggests more upside.

WEEK- The candle is a very large spread (470pips) bear closing near the low on average vol>9weeks. The candle close and volume suggests more downside.
DAY- The candle is a below average spread (72pips) bull slocing off the high on average vol>3days. The candle close and volume suggests consolidation to sell.  

Demand: Weekly/Daily:  1.4870 - 1.4812, 1.4229 Supply: Short term: 1.5574, 1.5600, 1.5619 

The Oanda order book shows more volume of newly trapped short positions. 

Potential demand stacks: 1.5046-1.5030
Potential supply stacks: 1.5212-1.5225

Potential long (trapped) stops:  1.5175-1.5142, 1.5127-1.5110,  1.5095-1.5075

Potential short (trapped) stops: 1.5244-1.5279, 1.5544-1.5569

SM is likely to target these stops, fading to the 1.5262 level or higher before reversing. 

GU long levels:  1.4900

GU short levels: 1.5250, 1.5260-1.5270, 1.5340, 1.5355-1.5375, 1.5415

Posted at 4.30 am EST