Are we moving into a BULLISH week for Gold?Looking for direction for the week. Allowing price to do its thing until Tuesday so it can find its "footing" so to say and give us a direction.
Buy
CAD/JPY BULLS ARE STRONG HERE|LONG
Hello, Friends!
We are going long on the CAD/JPY with the target of 115.294 level, because the pair is oversold and will soon hit the support line below. We deduced the oversold condition from the price being near to the lower BB band. However, we should use low risk here because the 1W TF is red and gives us a counter-signal.
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CAD/CHF LONG FROM SUPPORT
Hello, Friends!
We are now examining the CAD/CHF pair and we can see that the pair is going down locally while also being in a downtrend on the 1W TF. But there is also a powerful signal from the BB lower band being nearby indicating that the pair is oversold so we can go long from the support line below and a target at 0.650 level.
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EUR/JPY BULLS WILL DOMINATE THE MARKET|LONG
Hello, Friends!
Previous week’s red candle means that for us the EUR/JPY pair is in the downtrend. And the current movement leg was also down but the support line will be hit soon and lower BB band proximity will signal an oversold condition so we will go for a counter-trend long trade with the target being at 171.112.
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XAUUSD 28/7/24This week, we are looking at some great potential moves in gold. At first glance, it may seem like we have no plans to buy, but we have a much stronger bias for long positions than short ones. The key point is that until we have a clear structural narrative, we simply follow what we see, which currently indicates short moves.
We have a clear sign of momentum on the daily timeframe, leading us to think the pullback could continue and go lower into some more key areas. In terms of price moving lower from its current position, we have identified some clean-cut zones of supply to watch. These zones are marked out above the current price. The first zone is the candle responsible for the run of the last major low and the order block that caused a minor reaction, ultimately inducing buys into failing positions.
You can see the trend line we have highlighted, indicating the current trajectory for price action. If this trajectory continues, the higher areas of supply might not be tapped into. However, we are looking for a longer move here if the price allows it. Watch the zones above if the price starts to rise.
My main move to watch is running the liquidity low above our demand zone and then shifting up, giving us a clear bullish move into the daily high liquidity target. If we turn bullish, this target will be taken. Until we hit either the supply or demand zones, we have nothing to do except wait.
Trade safe and follow your rules.
EURUSD 28/7/24This week in the EU, we are looking to meet a couple of key points. Overall, we are focusing on the price shifting back into the bearish higher timeframe trend. Currently, the price has been moving lower. We opened up a gap on the daily timeframe, indicating a likely drop. Since then, we have moved lower and created short-term liquidity lows, suggesting the price will sweep out these levels and continue its downward movement.
The key points we want to see met this week are as follows:
1. Price to sweep out one of our short-term highs and create a BOS (Break of Structure) downwards, giving us a clean sweep and break move.
2. We have an area of supply that we may tap into. If we reach this high, it would be ideal for short moves and selling positions.
3. If we tap into this supply and break higher, I will look for the daily high to be reached.
We are more inclined to see a sell move to follow the higher timeframe trend. The target for this short move is the demand zone marked in green and the liquidity low marked just above that zone. Ideally, this zone will fail, and the price will move lower. However, we may react at this zone and go higher. We will follow what the price shows us!
Follow your rules and stick to your plan!
Trade safe.
US30 Is Approaching The Main TrendHey Traders, in today's trading session we are monitoring US30 for a buying opportunity around 39800 zone, US30 is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 39800 support and resistance area.
Trade safe, Joe.
Gold is approaching a decent supportHey Traders, in today's trading session we are monitoring XAUUSD for a buying opportunity around 2340 zone, Gold is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 2340 support and resistance area.
Trade safe, Joe.
USOIL Is Approaching An Interesting ZoneHey Traders, in tomorrow's trading session we are monitoring USOIL for a buying opportunity around 74 zone, USOIL is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 74 support and resistance area. We would also consider the 82 area as a potential target as it's the main resistance USOIL will be facing.
Trade safe, Joe.
AUDCAD Potential UpsidesHey Traders, in tomorrow's trading session we are monitoring AUDCAD for a buying opportunity around 0.89 zone, AUDCAD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 0.89 support and resistance area.
Trade safe, Joe.
AMD Advanced Micro Devices Options Ahead of EarningsIf you haven`t bought AMD before the previous earnings:
Now analyzing the options chain and the chart patterns of AMD Advanced Micro Devices prior to the earnings report this week,
I would consider purchasing the 140usd strike price Calls with
an expiration date of 2024-10-18,
for a premium of approximately $13.90.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
MSFT Microsoft Corporation Options Ahead of EarningsIf you haven't entered MSFT when they bought a stake in OpenAI, the creator of ChatGPT:
Now analyzing the options chain and the chart patterns of MSFT Microsoft Corporation prior to the earnings report this week,
I would consider purchasing the 460usd strike price Calls with
an expiration date of 2024-11-15,
for a premium of approximately $13.05.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
SBUX Starbucks Corporation Options Ahead of EarningsIf you haven`t bought SBUX before the previous rally:
Now analyzing the options chain and the chart patterns of SBUX Starbucks Corporation prior to the earnings report this week,
I would consider purchasing the 77usd strike price Calls with
an expiration date of 2024-8-2,
for a premium of approximately $1.97.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
SOFI Technologies Options Ahead of EarningsAnalyzing the options chain and the chart patterns of SOFI Technologies prior to the earnings report this week,
I would consider purchasing the 7usd strike price Calls with
an expiration date of 2024-8-2,
for a premium of approximately $0.72.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
GRPN Groupon Options Ahead of EarningsAnalyzing the options chain and the chart patterns of GRPN Groupon prior to the earnings report this week,
I would consider purchasing the 16usd strike price Calls with
an expiration date of 2024-8-2,
for a premium of approximately $2.95.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
The next rally for #Bitcoin It's clear that the market has started attacking those who have been profitable going shorts, therefore I've selected their liquidity pools for Targets, and because of that we have an OTE setup we can assume the ultimate target would be 79535
CRYPTO TOTAL MARKET CAP (BULLISH IDEA)Hello Avid reader,
I would like to share my take on the possible scenario for the Crypto Market.
1 - The market has been in consolidation phase for the past 4 months , creating a Typical Bull-Flag pattern .
2 - As you can see that the lows of the channel have been tested 4 times, but the selling pressure got absorbed on each test, signaling a Strong reversal.
3 - The mid of the channel (represented by dotted white line) precisely provided resistance / support to the PA in all the previous moves which is clearly visible on the chart. But the thing which I would like to highlight here, is that this time, the Price, very comfortably broke through the mid-zone and re-tested it as Support.
4 - There is a BISI (Buy-Side Imbalance & Sell-side inefficiency) highlighted by the green box. The PA might indulge this zone to grab un-touched Liquidity.
5 - USDT's Dominance is weakening and has formed a Bear-Flag pattern.
Areas of interest are market on the chart.
6 - In Summary, I expect the Crypto Market cap to rise significantly in the upcoming weeks, especially in Q4 2024 & subsequently, in Q1 2025. We are likely to face some resistance in the 2.5 T to 2.55 T area, as highlighted in the red box. Thereafter, 2.7 T and 3 T would be my areas of interest for selling.
Thanks.
GBPCHF Will Move Higher! Long!
Here is our detailed technical review for GBPCHF.
Time Frame: 6h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 1.135.
Taking into consideration the structure & trend analysis, I believe that the market will reach 1.143 level soon.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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GBPUSD Will Go Up! Buy!
Please, check our technical outlook for GBPUSD.
Time Frame: 4h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is trading around a solid horizontal structure 1.286.
The above observations make me that the market will inevitably achieve 1.291 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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USD/CHF BUYERS WILL DOMINATE THE MARKET|LONG
Hello, Friends!
USD/CHF pair is trading in a local downtrend which we know by looking at the previous 1W candle which is red. On the 1D timeframe the pair is going down too. The pair is oversold because the price is close to the lower band of the BB indicator. So we are looking to buy the pair with the lower BB line acting as support. The next target is 0.892 area.
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GBPUSD Is approaching The main TrendHey Traders, in today's trading session we are monitoring GBPUSD for a buying opportunity around 1.27600 zone, GBPUSD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 1.27600 support and resistance area.
Trade safe, Joe.
USOIL Will Go Higher! Long!
Take a look at our analysis for USOIL.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The price is testing a key support 78.234.
Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 82.164 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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DJI Is Bullish! Buy!
Take a look at our analysis for DJI.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a key horizontal level 39,843.73.
Considering the today's price action, probabilities will be high to see a movement to 40,793.56.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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