Transcription
The Nasdaq came to seek its fair value gap daily. We will talk about it today. We will also provide an update on the S&P 500. We will talk about the dollar which marked a rebound, which created this dip in the indices, and we will talk about gold, of course. Just before starting, I remind you that you have the opportunity to train with us for free. It's the first link in the pinned comment, all the notes concerning my content. It brings you back to this page. You just have to click right here on "Join my free Forex index Trading coaching". It opens this small form. You just have to register on Premix BT via our partner link. Once that's done, you just have to make a deposit of a minimum of 200 dollars on the platform, in crypto or by bank card. This is your trading capital. You can withdraw your funds whenever you wish. Then, fill in your email, your Premix BT ID in the form, it is located at the top right of the platform, there is a small profile logo, put your mouse over it, copy the ID, paste it into the form, fill in your Discord nickname. If you don't have a Discord account yet, you can create one right here by clicking on "Join". Put your nickname, check "I have made a deposit", "Get my access". And within 24 hours, you will receive access to the complete mentorship and also access to the VIP Forex index on Discord. This is where we exchange, where we share our analyses, our biases, reviews of our trades, we answer your questions, and so on and so forth.
So, to come back to the Nasdaq, we had noted the daily fair value gap on the Nasdaq right here, which was tagged. This initiated a rebound, not yet an inversion. We see that we have filled the last hourly FVG and that for now it is operating a small rejection with the formation of a new order block right here, which marks the rejection here. So this will be an interesting zone to observe, this summit, to see if we can break it or not. And possibly, we could even expect, why not, a new sweep of yesterday's low, as this would allow us to hunt the previous daily low before tomorrow's PCE data. And if the PCE data is good, why not mark a reversal? For now, I am observing this daily FVG with attention. If we lose it, we could have a deeper retracement, notably below the previous weekly FVG. So if there is a slightly deeper correction, we might go below the weekly FVG. Well, for now, that's not what's happening, but let's say that for now, we'll rather base ourselves on the daily fair value gap. I will still put it on my chart, just in case. It's a zone that interests me if we come back to it. I would be interested in positioning myself below the sweep of the low personally. But hey, I think we can still reverse here. I tell myself that the daily fair value gap is quite wide and if there is an attack below yesterday's low, I wouldn't be surprised if we came all the way to this hourly FVG right here.
So, if we want to fill the entire daily FVG, there would be this zone. After, I won't hide from you that this zone, personally, I already found it very interesting. And we will see if it marks an inversion or not. In any case, theoretically, the overall trend is still bullish. There is no problem. Here, we have a small retracement taking place. Nothing dramatic for me. As long as this daily fair value gap is maintained, very quickly, we will make a new ATH on the Nasdaq. Continuation bullish or at the limit, I think we will purge the lows, but I don't see a reversal now. The VIX has not yet reached its annual lows. The Russell has not even reached its 2024 summit. So, I think that's the direction. Personally, the immediate rebound, for example, could be enough. Well, we'll see that later.
The S&P 500, so I'm going to switch to weekly. Well, we are in weekly, we are looking a bit at the immediate potential balance at 6664. We note it. In daily, we can see that we have hunted Friday's low. So this is the POI equivalent to the Nasdaq. So we are in an interesting zone possibly to mark, why not, a low here on the Nasdaq, possibly on the S&P 500 now. Rejection of the last hourly FVG, new order block, so it's exactly like the Nasdaq. At the limit, if we come back to hunt yesterday's low, this could form an immediate balance here. So I'm just going to put a small line. I really don't want it to be too visible, this line. It's just to remind myself that there is possibly an immediate balance that we can make here. So. Like this, I remember that if we come to Montré noir, there will be an immediate balance and it would possibly be a good zone here for a rebound, knowing that we could even hunt this Thursday low. 6663.5 points to note. Now, we can literally bottom here. I'm waiting to see the market structure a bit and see if there's a way to bottom or not. For me, we are entering interesting swing zones to go for a new ATH. Notably here, we see that we have left a relative equal high. In my opinion, this will not remain intact. We will clearly come back to it. So it's rather good news that we have made a relative equal high here. I think we will come back to this. Just put this in blue because it's buy-side liquidity. So. And for me, in any case, we are in a buying search on this dip here, knowing that we have moved back below the week's open. So the idea is that possibly the PCE data could potentially trigger a short squeeze. We'll have to see, I don't have much more to say about the indices either. What we will note is that what interests me, as I said today, is possibly this previous day low on the S&P 500 and the Nasdaq if it is offered today, as it would allow us to stay in the daily FVG on the Nasdaq and potentially make an immediate balance, which I will put here in hourly, well in weekly, sorry, to come to the dollar index, and this is the most interesting thing, because it has indeed reacted in its BPR. We have made a new high. So, there is no breaker block yet, but it remains to be observed. The breaker could possibly mark the inversion of the dollar. I've already explained that. To at least come and seek this buy-side liquidity, in my opinion, at 98.345, or possibly the August high at 99.67. So, here, I will note it. Previous monthly high. Right here. Possibly, I don't necessarily have more to say. In hourly, yesterday, we can note liquidity grab, market structure shift/breaker which marked the inversion, new bullish push, to see if the price will turn around here or not. Tomorrow, there is the PCE data. Don't forget, markets can be nervous until tomorrow. Next week, I don't think we have any major economic news, although no, early October, generally, there are things. The first week of October is indeed, yes, there is the NFP, so that will be important. Unemployment rate also. So these are important data. But well, for now, we don't care. I'll come back to it on Monday. So, nothing more to say about the dollar. We are seeing signs of strength. The order block formed a BPR that was respected. New push. I'm not surprised at all. The dollar is impacting the indices a bit. Now, the VIX, which has not yet reached its lows, which yesterday made a wick that came back to seek the trendline that we are a bit following. The idea is to say that as long as we don't break this trendline, we are heading towards the 2024 lows, and at this rate, it could even take until the end of October. So we could still maintain a bullish bias until the end of October if we follow this trendline.
And concerning gold, which came to reprice its daily fair value gap, so it offered an interesting zone. We will see if there is a way to seek continuation. No, theoretically this zone is made for that. We will look a bit in hourly and we see that it's a bit like the indices where there is a small rebound that has formed. We have come back to close the last hourly FVG that had formed on this order block right here. For now, it's reacting. So for me, in the short term, this will be the zone to observe. For me, we are supposed to maintain this FVG if we want to restart a bullish flow. If we lose it, we will have to expect a sweep of the low, and it would not be the end of the world again, as it would allow us to come back to seek a daily low within the daily FVG. So in itself, it would be an interesting zone. I will set an alert here, possibly, to see a bit what's happening there. We'll come back to it. I will also set an alert on the Nasdaq because it interests me if we make a new low. So, on the S&P 500, I will be kept informed as well. And so on gold, well, still a bullish dynamic. Are we marking a top? It's possible, it's just that it's not visible on the price yet. So the bias remains bullish, the flow remains bullish. It should be noted that the dollar is starting to show signs of bottoming. So at some point, gold should start to calm down. But for now, nothing to report here, as long as we don't have a break of this last order block, we would have a breaker block, then it would start to mark a top. This is not the case here. Now, I repeat, you have to take profits for those who are exposed, especially in swing. We are arriving in extension zones. This is where you have to take your profits. There are chances that we start to consolidate or even mark a top in this extension zone.
I'll stop here for today. I hope you enjoyed it. If so, don't hesitate to bombard the blue thumbs, subscribe, and leave a small comment. Thank you very much to those who play along. I remind you of all the links in the description box for those who want to train for free with us. We'll meet again later for another video or tomorrow for the next macro review.