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GOLD Most Important Levels, Preparing The Week with Trading-GuruWelcome to another in-depth breakdown of gold using technical analysis. In this analysis I will help you prepare for the following week using the chart above. I am suggesting a long trade set-up here on XAU/USD. In general gold obviously has a long bias since it's been rising nearly non stop on the larger timeframes. But there are short opportunities on the shorter ones. Bare in mind that when you're shorting you are betting against the market (more so with gold than anywhere else). So you won't want to hold your positions for too long. Anyways, in this idea I will focus on a long position. Let's discuss all the horizontal levels in detail: Horizontal Resistance Zone (Level II) This is a zone that can be used for a really optimistic exit on gold. This zone is marked by the all-time-high of gold around $2080. Be prepared for serious resistance if gold gets close to these levels. I wouldn't suggest to hold over this level, but to exit slightly below, for instance around $2070, to maximize your win percentage. Horizontal Resistance Zone (Level I) This is my recommendation for an exit on a long position. The price is marked by a recent high where gold previously struggled. We have a beautiful 2.44% opportunity here, perfect for a scalp trade that should last about a day or so. Psychological level of $2000 This level is an important one. When gold goes above this level, newspapers will start writing about it. People will have set their alerts on this level, people will have set their take profits on this level. Simply put, a lot of things might happen here. For a slightly more safe exit, you could try to trade towards slightly below $2000, like $1999, to increase your chances of a take profit limit order to get hit. Smaller middle yellow zone Then we have the yellow horizontal zone. This is an area on the shorter time frames where we have seen a lot of resistance, and just before the weekend we witnessed a break-out. I expect that through an S/R flip this zone can be used for a really good long entry. By waiting for the price to retrace a bit, we make sure we improve our risk-reward. Currently the price is a bit in the middle of nowhere, and not suitable for an entry in my view. Horizontal Support zone (Level I) This zone could be use for an even better long entry on gold. If the price retraces this far, you can have a fantastic risk reward when trading a reversal. Also, if you plan to enter around the yellow support, you can use this zone to set a stop-loss. Horizontal Support zone (Level II) This zone can be used for a stop-loss, or for a very very extremely conservative entry. Let's hope we won't see gold anywhere near $1850 anytime soon again. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
OANDA:XAUUSDLong
by Trading-Guru
24
Triple Repeat Fractal on BTC/USDHere in this analysis I will show you a fractal that I've been looking at on the 1h for BTC/USD. This is a structure that has been forming over the last ~10 days. The price slowly builds up, after which it relatively quickly drops again. This is something I see now on BTC/USD that I recognize from my time trading stocks. It is very common to witness these kind of patterns. It can take a whole year to build up ~15% and then the market can lose it all in 2 weeks. Now that we've seen a relatively large drop again from ~$11,833 to ~$11,100, we might be seeing a similar pattern again. If this pattern gets validated, you should probably hold a long position now until about ~$11,600 and then go short until ~$11,000. Let me know what you think of this analysis, as it's slightly alternative to the ones I usually do. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
BITSTAMP:BTCUSD
by Trading-Guru
10
Support and Resistance Trade Set-Up for ETH/BTCHey all, here’s another entry on my tradingview series called 'Quick Updates'. In the chart you can find a nice and clean trade set-up based on support and resistance --- What is The Quick Update Series All About? --- I have started a new tag (quickupdates) where I quickly share great opportunities based on TA for shorter timeframes, such as 4h, 1h, and 15m. It will contain a brief explanation with clear and clean charts in order to keep the velocity up and make sure you get to see the opportunities as fast as possible. If you want to learn more about how to place your limit orders including entry, stop-loss and take-profit, check out: Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
Long
by Trading-Guru
Support and Resistance Trade Setup [Quick Updates]Hey all, here’s another entry on my tradingview series called 'Quick Updates'. In the chart you can find a nice and clean trade set-up based on support and resistance --- What is The Quick Update Series All About? --- I have started a new tag (quickupdates) where I quickly share great opportunities based on TA for shorter timeframes, such as 4h, 1h, and 15m. It will contain a brief explanation with clear and clean charts in order to keep the velocity up and make sure you get to see the opportunities as fast as possible. If you want to learn more about how to place your limit orders including entry, stop-loss and take-profit, check out: Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
Long
by Trading-Guru
EURGBP Started Its Downtrend After Breaking Out of This TriangleMake sure you enter this trade before the market closes. You only have 1 hour left! The price has bounced three times off the horizontal support of the descending triangle. Each bounce was slightly less strong, which denotes the characteristic of the triangle. The bounces were respectively ~4%, ~3%, and ~1.5%. Now that the triangle broke, we can see that bears are winning from the bulls. I expect EURGBP to start a downtrend where bears will keep pushing the price down. The most logical first test will be around this support area. To profit from this trend, we can place a short trade, with a stop loss slightly above the support of the descending triangle (S/R flip). Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only! Recent success stories
Short
by Trading-Guru
7
AUD/CHF Opportunity for Horizontal Scalping [Quick Updates]On AUD/CHF we see a nice opportunity here for a short trade. The price has been nicely between the support and resistance zone. We can leverage this by trading a short position. The price is really close to the resistance now, which gives the best risk-reward for trades using support and resistance. If the price does break through the resistance in the end, the loss is minimized. If the price follows our idea, we maximize the profits. This is a great moment to enter AUDCHF! --- What is The Quick Update Series All About? --- I have started a new tag (quickupdates) where I quickly share great opportunities based on TA for shorter timeframes, such as 4h, 1h, and 15m. It will contain a brief explanation with clear and clean charts in order to keep the velocity up and make sure you get to see the opportunities as fast as possible. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
Short
by Trading-Guru
4
GBPJPY Needs To Make a Decision Soon [Rising Wedge]There are multiple very interesting things going on here from a technical analysis perspective. First of all, we find GBPJPY in a rising wedge. The support lines are getting closer together, and the price is perfectly staying within the lines. Soon, GBPJPY will break out of those lines which can cause a big disruption to the price. Many people are watching these patterns right now. Overall, this is a bearish pattern and the price is about the break out of the bottom support line. This is a very negative sign for the price. Secondly, GBPJPY is near a horizontal area of resistance. The price has respected this area already before, and shown that it was very difficult to break through this area. It even acted as a support zone earlier on due to an S/R flip. This zone of resistance is another bearish signal that shows that it will be difficult for the price to get higher. Lastly, we find confluence. Because these two signals show us the same direction, the signal is becoming stronger. That's the reason why I suggest a short trade here with a stop loss tightly above the zone of resistance. In case we invalidate this idea, we should leave the trade as soon as possible. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
Short
by Trading-Guru
23
Two Scenarios You Can't Miss On AUDCHF For Maximum ReturnsWhat is important to realize here is that we first need to wait before entering this trade. The price is closing in on the resistance level, and we can simply wait and observe the behavior before entering the trade. Let's go through the two scenarios. 1) The Bullish Scenario. If the price breaks through the horizontal resistance we can expect a continuation of this parallel upwards channel. I placed the price ranges for your entry, take profit and stop loss on the chart. 2) Bearish Scenario. If we see a rejection of the price when it hits the resistance area, we can expect a downwards trend again. I placed the price ranges for your entry, take profit and stop loss on the chart. After the price has hit the horizontal resistance level, wait until you see either the bullish or the bearish scenario confirmed. Then, it's safe to enter the trade! Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only! If you want to learn more about how to place your limit orders including entry, stop-loss and take-profit, check out: If you want to learn more about the psychology behind trading, check out:
by Trading-Guru
4
EUR/JPY Scalp Opportunity [Quick Updates]Hey all, here’s another entry on my tradingview series called 'Quick Updates'. We can see a nice opportunity here for a quick scalp after EUR JPY has hit the horizontal support zone for the fifth time. The price has confirmed a rejection and looks to be in a temporary uptrend now. I suggest to put the take profit directly under the support/resistance flip area. --- What is The Quick Update Series All About? --- I have started a new tag (quickupdates) where I quickly share great opportunities based on TA for shorter timeframes, such as 4h, 1h, and 15m. It will contain a brief explanation with clear and clean charts in order to keep the velocity up and make sure you get to see the opportunities as fast as possible. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only! Recent success stories
Long
by Trading-Guru
4
Bearish Signal Based Off Descending Triangle for BAT BTCHi all, The Trading Guru is back here with a bearish scenario on BAT. After the big pump 4 days ago, we have seen several attempts of bringing the price down. Each attempt resulted in a bounce off around the 0.00002180 zone. However, every subsequent bounce has been slightly weaker. This is a very bearish signal, and is called a descending triangle. I expect the price to break through the support soon, as we can see the bears are clearly winning from the bulls at this point. Only once the price goes back to normal ranges as defined by the horizontal support, it will become more unpredictable about what will happen with the price. At this point we should leave the trade. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only! About the links below: 20% Discount on Binance: Did you know that Binance introduced a new system where you can get 20% discount on your fees? Find the step-by-step guide on how to add it to your account on the website of 100eyes Forex & Crypto Scanner: Nobody can keep track of all the pairs on all timeframes. This scanner works on Telegram and sends an automated message including a chart every time something happens to a coin. E.g. it can automatically detect areas of support and resistance, RSI Divergences, Fib Retracements, and more.
Short
by Trading-Guru
7
ENJUSDT - Strong Hidden Bullish RSI Divergence [QUICK UPDATES]Hey all, the Trading Guru is back with another entry on a new series called 'Quick Updates'. We can see the price making a higher low, whereas at the same time the RSI is making a lower low. This is a bullish continuation pattern where the divergence indicates the end of a temporary retracement in an overall uptrend. This could be a great moment to buy ENJ and enter a coin that just started a strong uptrend. --- What is The Quick Update Series All About? --- I am starting a new tag (quickupdates) where I quickly share great opportunities based on TA for shorter timeframes, such as 4h, 1h, and 15m. It will not contain just a short explanation, in order to keep the velocity up and make sure you get to see the opportunities as fast as possible. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only! About the links below: 20% Discount on Binance: Did you know that Binance introduced a new system where you can get 20% discount on your fees? Find the step-by-step guide on how to add it to your account on the website of 100eyes Forex & Crypto Scanner: Nobody can keep track of all the pairs on all timeframes. This scanner works on Telegram and sends an automated message including a chart every time something happens to a coin. E.g. it can automatically detect areas of support and resistance , RSI Divergences, Fib Retracements, and more.
by Trading-Guru
3
ETCBTC Just Got Its Horizontal Support Zone Confirmed [BULLISH]I was looking at this support zone for a while now. After a 6% price gain in about 24h, the price kept dropping and dropping rapidly. Finally it found support which made the bears temporarily leave. I see two important resistance zones directly above it, to which I expect the price to increase. Now that the hit of the support zone seems like a possible reversal moment, I expect the price to reach above the resistance level 1 with a bit of struggle. Then, with an S/R flip I expect resistance level 1 to act as support to go to resistance level 2. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only! About the links below: 20% Discount on Binance: Did you know that Binance introduced a new system where you can get 20% discount on your fees? Find the step-by-step guide on how to add it to your account on the website of 100eyes Forex & Crypto Scanner: Nobody can keep track of all the pairs on all timeframes. This scanner works on Telegram and sends an automated message including a chart every time something happens to a coin. E.g. it can automatically detect areas of support and resistance, RSI Divergences, Fib Retracements, and more. Also, check my recent popular ideas on BTC:
Long
by Trading-Guru
Keep an Eye On This Zone With Crazy Price Action [USDCHF]For this LONG opportunity we will look at three parts. 1) Where should I enter my long? We can see that the price is closing in on an area with horizontal support. To leverage the support area, you should place a long limit order directly above it. We will bet on the fact that the price will bounce off the support zone and go up towards a zone of resistance. 2) Where should I put my stop loss? Support zones can have a bit of slack. They don't always need to be held for 100%. Place your stop loss a little bit below the bottom of the zone to give the price some opportunity to make unexpected moves. 3) Where should I put my take profit? When you look up, you see an area that is too big to be a horizontal zone of resistance. Yet, if you look at the price action, there is crazy volatility there and many many people have traded in that area. I suggest you stay away from that unpredictable area and place your take profit directly under it. Once we reach that area again, it will be very difficult to predict what will happen. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only! Recent success stories
Long
by Trading-Guru
5
Daredevils Only - Trading new ALL TIME LOW [Quick Updates]Hey all, the Trading Guru is back with another entry on a new series called 'Quick Updates'. CADCHF Has finally shown us a temporary low in this massive bearish trend. This is not an easy moment to trade, there can be unexpected volatility, and there is not much historical price action to base your TA on. I am going to keep it simple for now and just share this scenario based on a support and resistance. A first small rejection of the resistance has already happened, I expect it to continue a little bit. Eventually I do expect the price to attempt again and break through the resistance. Then, after a S/R flip the price can bounce off a newly found support and make a short uptrend. I believe the price will need to cool down a bit and will recover temporarily. This is where you can try to monetize this pair. --- What is The Quick Update Series All About? --- I am starting a new tag (quickupdates) where I quickly share great opportunities based on TA for shorter timeframes, such as 4h, 1h, and 15m. It will not contain just a short explanation, in order to keep the velocity up and make sure you get to see the opportunities as fast as possible. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post if you learned something to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only! Recent success stories
Long
by Trading-Guru
3
A Descending Triangle is Forming on BCH [QUICK UPDATES]Hey all, the Trading Guru is back with another entry on a new series called 'Quick Updates'. We see BCH here with a strong bearish trend currently. It is reaching a point of support, but it doesn't look like it is really going to hold. I expect the price to bounce a little bit, confirm the triangle, and break through the bottom support line. The intuition behind a descending triangle is that there is a support zone at the bottom, with multiple attempts to break the support. After every bounce, the bulls slightly decrease their power. At some point the bears break through the support zone , and will create a sharp drop in price. --- What is The Quick Update Series All About? --- I am starting a new tag (quickupdates) where I quickly share great opportunities based on TA for shorter timeframes, such as 4h, 1h, and 15m. It will not contain just a short explanation, in order to keep the velocity up and make sure you get to see the opportunities as fast as possible. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only! About the links below: 20% Discount on Binance: Did you know that Binance introduced a new system where you can get 20% discount on your fees? Find the step-by-step guide on how to add it to your account on the website of 100eyes Forex & Crypto Scanner: Nobody can keep track of all the pairs on all timeframes. This scanner works on Telegram and sends an automated message including a chart every time something happens to a coin. E.g. it can automatically detect areas of support and resistance, RSI Divergences, Fib Retracements, and more. Also, check my recent popular ideas on BTC:
Short
by Trading-Guru
3
GBPAUD Just Confirmed A Support Zone [QUICK UPDATES]Hey all, the Trading Guru is back with another entry on a new series called 'Quick Updates'. The price just hit this support zone, and got a beautiful confirmation of the area. It looks like the support zone is maintained, and the price will no continue with a bullish momentum. The nearest resistance is just above the current price, and makes for a nice scalp. --- What is The Quick Update Series All About? --- I am starting a new tag (quickupdates) where I quickly share great opportunities based on TA for shorter timeframes, such as 4h, 1h, and 15m. It will not contain just a short explanation, in order to keep the velocity up and make sure you get to see the opportunities as fast as possible. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post if you learned something to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
Long
by Trading-Guru
9
This Rising Wedge is About To Break [BEARISH SCENARIO]Let's look into more detail for this bearish scenario for EURCHF. We can see a rising wedge here, together with a horizontal zone of resistance. So far EURCHF has behaved very nicely within the rising wedge, with a clean oscillic bullish pattern. However, this behaviour is about to break as the price is closing in towards the zone of horizontal resistance. In this bearish scenario that I drew, I expect the price to hit the horizontal resistance, get a rejection and go down. It then will hit the bottom trendline of the rising wedge, and will use the bearish momentum to break through the support, and spike downwards temporarily. This is where the opportunity for the trade comes in. We can enter the trade near the horizontal resistance, with a short position. The stop loss will be above the resistance zone, to make sure we exit the trade when the bearish scenario gets denied. Happy trading everyone :) Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only! Recent success stories
Short
by Trading-Guru
4
VETUSDT Recovering From All-Time Low [BULLISH SCENARIO]Vet has struggled massively over the last few weeks. The general cash pull-out based on COVID-19 caused the price to drop to unseen lows. After the overall markets and BTC have recovered temporarily, I foresee a bullish scenario here on the 60m for VET based on technicals. There have been two import horizontal areas here, for which both have S/R flips. The current horizontal resistance is important for VETUSDT. It seems that the bulls are attempting to break through this horizontal resistance, and I expect that after a small retracement the price will continue in an upwards trend. The old zone of resistance will act as a logical spot of support, which will push the price up from its all-time low. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only! About the links below: 20% Discount on Binance: Did you know that Binance introduced a new system where you can get 20% discount on your fees? Find the step-by-step guide on how to add it to your account on the website of 100eyes Forex & Crypto Scanner: Nobody can keep track of all the pairs on all timeframes. This scanner works on Telegram and sends an automated message including a chart every time something happens to a coin. E.g. it can automatically detect areas of support and resistance, RSI Divergences, Fib Retracements, and more.
Long
by Trading-Guru
4
Descending Triangle on ATOMBTC - Price Can Break Soon!We need to be really careful here on ATOM/BTC. A very clear descending triangle is forming here, giving us very bearish signals. The intuition behind a descending triangle is that there is a support zone at the bottom, with multiple attempts to break the support. After every bounce, the bulls slightly decrease their power. At some point the bears break through the support zone , and will create a sharp drop in price. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only! About the links below: 20% Discount on Binance: Did you know that Binance introduced a new system where you can get 20% discount on your fees? Find the step-by-step guide on how to add it to your account on the website of 100eyes Forex & Crypto Scanner: Nobody can keep track of all the pairs on all timeframes. This scanner works on Telegram and sends an automated message including a chart every time something happens to a coin. E.g. it can automatically detect areas of support and resistance, RSI Divergences, Fib Retracements, and more. Recent success stories
Short
by Trading-Guru
3