🏦 Banks Getting Ready to 📉 Drop the Market AGAIN!

Based on the Commitments of Traders data reported on: October 11th 2022

#GOLD rallied up into the weekly supply zone and now we can see the selling starting to take place. All this was taking place as retail traders starting exiting their shorts - they opened at the lows - and are now getting into more longs. Retail sentiment is shifting in the wrong direction.

On the H4 chart we are watching for a short signal to be produced.

#OIL declined drastically from highs of $120 to lows of $80 and now rallying again from an institutional weekly demand zone. As it rallied it formed new demand by removing a weekly supply. This chart is very unpredictable at this time without any proper structures to base direction off of. Not looking to take any trades on oil.

$EURUSD dropped on the charts until some substantial supply started pushing the dollar downward and the $eurusd upwards. Price has been rallying upwards until the markets reversed and now price is again dropping. Retail sentiment has remained mostly long during this time which is untypical behaviour. I’ll be watching this one closely as I have intentions to get into a short position but I don’t want to get into it until the time is right. Having retail traders long is definitely a plus.

$BITCOINis getting ready to make a move very soon. Price has been moving toward the descending trend line on the weekly chart over the past many weeks and now it is right upon it. Being that there isn’t much to go on I am purely speculating here but I sense we are about to see a continued move lower. 🔴 Bearish bias ⏰ longer term.

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