[2024.08.28 Wednesday Market Analysis and Opportunity Insight]
Updated
Hello traders,
In the realm of commodity trading, market fluctuations often align with the influx of information. Nevertheless, as we near the end of the month, a distinct pattern emerges: news tends to quiet down and data liquidity diminishes.
During this period, analogous to calm waters in the market, lies both a challenge and an opportunity. This juncture not only tests a trader's training, sagacity, and skill, but also assesses their resilience.
This week marks the final trading week of August, with extremely scarce news and limited data, indicating a collective anticipation for the September non-farm payrolls data and the interest rate cut scheduled for September 19th.
Given the dearth of news, it would be advisable to rely more on technical analysis.
1. Concentrate on support and resistance levels, along with technical indicators like moving averages and RSI.
2. Decrease trade sizes and establish reasonable stops. Under conditions of limited information, the market could be more vulnerable to unforeseen events.
3. Monitor trading volume: Variations in trading volume may signify price direction. Low trading volume could denote market indecision, while a sudden surge in trading volume could indicate a significant movement.
4. In the absence of short-term information, it may be apt to emphasize and trade in accordance with the long-term trend.
5. Be patient. Refraining from trading when signals are unclear is also a viable strategy. Avoid forcibly engaging in trades due to inactivity.
[Crude Oil]
As advised on Tuesday, the market sentiment for crude oil remains unchanged, and it's recommended to await a pullback position for considering a new single position.
On the 4-hour chart, a retracement target between FIBO 382-618, within the 75.3-73.8 range, is viewed as necessary for the preceding upward wave's retracement. Please refer to Figure III.
P.S. On Wednesday, TP3 /TP4was included as a retracement target, near the 73.80 range.
BEST WISHES!
LEAN MEANS MORE!
In the realm of commodity trading, market fluctuations often align with the influx of information. Nevertheless, as we near the end of the month, a distinct pattern emerges: news tends to quiet down and data liquidity diminishes.
During this period, analogous to calm waters in the market, lies both a challenge and an opportunity. This juncture not only tests a trader's training, sagacity, and skill, but also assesses their resilience.
This week marks the final trading week of August, with extremely scarce news and limited data, indicating a collective anticipation for the September non-farm payrolls data and the interest rate cut scheduled for September 19th.
Given the dearth of news, it would be advisable to rely more on technical analysis.
1. Concentrate on support and resistance levels, along with technical indicators like moving averages and RSI.
2. Decrease trade sizes and establish reasonable stops. Under conditions of limited information, the market could be more vulnerable to unforeseen events.
3. Monitor trading volume: Variations in trading volume may signify price direction. Low trading volume could denote market indecision, while a sudden surge in trading volume could indicate a significant movement.
4. In the absence of short-term information, it may be apt to emphasize and trade in accordance with the long-term trend.
5. Be patient. Refraining from trading when signals are unclear is also a viable strategy. Avoid forcibly engaging in trades due to inactivity.
[Crude Oil]
As advised on Tuesday, the market sentiment for crude oil remains unchanged, and it's recommended to await a pullback position for considering a new single position.
On the 4-hour chart, a retracement target between FIBO 382-618, within the 75.3-73.8 range, is viewed as necessary for the preceding upward wave's retracement. Please refer to Figure III.
P.S. On Wednesday, TP3 /TP4was included as a retracement target, near the 73.80 range.
BEST WISHES!
LEAN MEANS MORE!
Trade closed: target reached
TP3hit.
Sideways price action begin.
Trade closed: target reached
TP4hit.
专注黄金和原油
七周年庆，免费入群微信小红圈（首季度），每日更新追踪交易计划，微信联系咨询： ziyuvera
red-ring.cn/group/22462
Focusing on COMMODITY GOLD N OIL
//
Wechat微信:ziyuvera
Tele: t.me/VeraFuntrader
七周年庆，免费入群微信小红圈（首季度），每日更新追踪交易计划，微信联系咨询： ziyuvera
red-ring.cn/group/22462
Focusing on COMMODITY GOLD N OIL
//
Wechat微信:ziyuvera
Tele: t.me/VeraFuntrader
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