Ticker tape by TradingView

April 16, 2021

Trade Ideas for GU, GOLD, SPX500

Frank Cabibi

GU in Wedge, Gold Breaks Out, SPX500 Hits New Highs
4/16/2021

GBP/USD Analysis 
Price bounced off a rising trend line on the daily chart for GU. Now the daily candle is reaching the top of the wedge to where it has stumbled on resistance before. USD had great retail sales reports yesterday which could spur momentum to the downside on this pair, but it would be hard to reverse the long term uptrend that this pair is in.
Gold Analysis 
Gold on the daily chart has finally broken above resistance in the $1760s. If price can close above that level, it would be a great sign for the bulls. Next major resistance appears to be the 200 DMA in the mid-$1800s.
SPX500 Analysis 
SPX500 at fresh highs after strong earnings day. Retail sales seems to be benefitting the stock market more so than the US dollar. There is very clear support in the high 3900s which is also quite a ways from current price. So, we could see big volatility here soon with swings in either direction.

A1 Edgefinder

FLASH SALE
Take 40% off the Edge finder using code "READER"
GET ACCESS NOW

want to see what we're trading?

Join The VIP Community!
Our entries, exits & analysis
Live Webinar Coaching
Trading Chatrooms
Strategy Library 
Exclusive Trading Guides
Use Code "READER" for 10% OFF!
JOIN NOWJoin FREE Discord
A1 Trading Podcast
We Like These Pairs For Next Week

As this week comes to a close, we are looking ahead at future setups that could be some of the best opportunities for the next several trading sessions. Here are some pairs for next week that we are looking at. EUR/JPY Recent data has shown a slow down in the German manufacturing sector. With European […]

Read More
More Downside On The SPX500 After This?

When it comes to testimonies, it's all in how you say it. Jerome Powell has to be very particular in the way he makes his statements and answers the ensuing questions. Here is what might be in store for the market in the coming days and weeks, and whether or not there will be more […]

Read More
More Upside For Yen After This

The historically 'safe' currency to hold in times of recessions is in a unique situation now with a couple factors in place. Here is why the yen is stronger today as well as some trade setups that could push its value either up or down. Weaker Yen Now, Stronger Yen Later The Bank of Japan […]

Read More
DISCLAIMER: All comments made by TraderNick’s Forex Group, LLC are for educational and informational purposes only. All comments should not be construed as investment advice regarding the purchase or sale of any securities or financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities or financial instruments mentioned by TraderNick’s Forex Group, LLC. TraderNick’s Forex Group, LLC assumes no responsibility for your trading and investment results. All information on any of the platforms utilized by TraderNick’s Forex Group, LLC was obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. TraderNick’s Forex Group, LLC, its employees, representatives, and affiliated individuals may have a position or effect transactions in the securities and financial instruments herein and or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. Trading of any type involves very high risk and may not be suitable for all investors. TraderNick’s Forex Group, LLC, its subsidiaries and all affiliated individuals assume no responsibility for your trading and investment result. Read our full disclaimer here
homescreensmartphone linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram