Speaking of fundamental, it is very strange that gold did not push a lot higher to over 30, or maybe at least close over 25. Media is bragging about how the smart money could have predicted this number's weakness previously and decided to make a joke about breaking 1300. In cnbc.com/2016/09/02/us-nonfarm-payrolls-august-2016.html, the author points out the fact "Nonfarm payrolls increased just 151,000 for the month, extending the futility August has experienced over the years. This is now the 10th time in the past 13 years the month whiffed on market expectations.".
Back into chart, my reading was that closing below 40, let alone 30, still smells bearish. Seems like it is for the medium term as the last month NFP was absolutely a success in dragging down 1360 to 1300. However, macd cut on a NFP day is bringing a light into some buyers. More over directional has now changed hand to D+. A rare occurence that happened once in April 5th,2016 and then June 3rd, 2016; both of which happened on NFP effects too. So D- extreme point was at 1309 and now D+ extreme point is at 1330, and we could see mid flip at 1315-1316 previously tested on Friday session. the baby bulls might cry for a milk touch, and preferrably a close, above 1330.
Talking about Parabolic Stop and Reverse by Wilder, now located at 1347 is mouth watering to the bulls, only and let's reiterate "Only If" it is touched with patience. Let's hope the points descend to a much lower level, when price ascends slowly.
ADX reading is way too low to say any trending verdict. However, it is usually at this level that some powerful moves can spurt from and before we know it ADX gone up so high that it is not noticed. Hence brings up range-trading option that allows us to see 1310-1360 range, with mid point at 1335.
For bearish chance, it is actually the path of the least resistance with every indicator can be easily turned upside down when 1300 breaks, but as previous note my thought was 1290-1295 could be the furthest it can go. For now, in lights of recent events and chart's saying, something must happen first to bring its chance to light.
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From the weekly chart, it is clear that bears are trying to come to power parity to the bulls. What is interesting here, the longer term MACD has made a cross, which could potentially lead to a verdict of long period of consolidation. However hammer candle on 1300 strong support should not be taken lightly too. Bulls still have a better chance, although a bit slimmer than previously. Unless through out the weeks, bears are beaten consistently.
in H4 zones, we see a lot of S/R flips and supply zones, especially those near 1350. Let's hope with the support of weekly and daily "slightly-bullish" reading, supplies are scared and decide to retreat to make ways for demands.
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Seems like i made a mistake. Today should've been 5th Sep16. 9:32am PA not showing much. exited all pos. until better view.
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11:52am 1318 zone, happsn to be weekly pivot could be better for longs.
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2:02pm Fake resistance is being set at 1325.50. Maybe SL Hunt to short might happen at 1326.6-1327, just at Monthly Pivot
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1326.40 Shorted SL 1331 TP 1320
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1328 touched. Short Closed. Some big european/brit money is pushing this up. will see how 1330 reacts.
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5:39pm Short was not cancelled, but closed manually in a loss Flicking through how daily directional chart: The Volume on Friday NFP day is suddenly so high. Tells us something really weird.