GBPUSD - Following The Trend 📉Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 GBPUSD has been overall bearish , trading within the falling channel in red.
Currently, GBPUSD is approaching the upper bound of the channel acting as a non-horizontal resistance.
Moreover, it is retesting a supply zone marked in green.
🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the upper red trendline and green supply zone.
📚 As per my trading style:
As #GBPUSD approaches the red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
CFD
COCOA about to crashNot much of a technical analysis as we can see but there is not much we can do about it. The chart is just parabolic due to the high amount of big companies hedging against the worse-than-expected harvest. The fundamental analysis could not be much of a help either because nothing can resonate with such pricing for the cocoa. This type of trade is just speculative because it has a decent Risk-Reward.
Stops above the previous high
TP between 7,000-7,600$
Gold will be Slave or Master❗️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 After breaking above the $2100 resistance, XAUUSD surged by 5%.
How high can Gold climb?
The marked red circle represents a significant resistance and overbought zone as it marks the intersection of:
1- $2250 round number.
2- Upper red trendline from weekly.
3- Upper blue trendline from daily.
🏹 Thus, the highlighted blue circle denotes a robust area to anticipate a potential reversal.
And keep in mind: the bigger the impulse, the bigger the correction.
Therefore, when Gold begins to trade lower, be prepared!
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Richard Nasr
I'm bearish on GOLD#GOLD Analysis
Description
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+ As you can see in the chart, GOLD price got rejected at the resistance line once.
+ Now the price is heading back to the resistance line again.
+ I'm expecting the price to get rejected again at the resistance. if the price gets rejected again then we have a good chance for a short trade.
+ I'm planning to enter the short trade after clear rejection.
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VectorAlgo Trade Details
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Entry Price: 2016.44
Stop Loss:2024.40
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Target 1: 2011.89
Target 2:2003.57
Target 3:1995.06
Target 4: 1984.37
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Timeframe: 1H
Capital: 1-2% of trading capital
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Enhance, Trade, Grow
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Agree or Disagree with the ideas ? lets discuss in the comments.
Like and follow us for more ideas.
Regards
VectorAlgo
Dow Jones Index (US30) Does the Bullish Trend Continue
Dow Jones index is trading in a strong bullish trend.
After the market set the all-time high at the end of December,
the market started to consolidate within a horizontal range.
Bullish breakout of the resistance of the range is a strong trend-following signal.
It may push the prices to 38400 level.
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CRUDE OIL (WTI): Important Key Levels to Watch Next Week 🛢️
Here are the important key levels & structures to watch next week on WTI OIL.
Support 1: 69.3 - 70.4 area
Support 2: 67.7 - 68.7 area
Resistance 1: 75.2 - 76.2 area
Resistance 2: 78.5 - 79.7 area
Consider these structures for pullback/breakout trading.
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Crude Oil (#WTI): Detailed Structure Analysis 🛢️
Please, check the important key levels on ⚠️WTI Crude Oil.
Support 1: 69.3 - 70.4 area
Support 2: 67.7 - 68.7 area
Resistance 1: 75.2 - 76.2 area
Resistance 2: 78.5 - 79.7 area
Consider these structures for pullback/breakout trading.
❤️Please, support my work with like, thank you!❤️
Gold's Maintenance of Record Levels - Following Trend - TADear Esteemed Members,
Gold holds record levels, as the price is above its moving averages and the upper Bollinger band, indicating a strong bullish trend and a high volatility. The price could update the previous high in a wave y, and reach $2100 soon. RSI, stochastic, and OBV, to confirm the validity and strength of the trend.
Kind Regards,
Ely
US500 ~ Ho Ho Santa Rally or EOY Bah Humbug Bust? (4H)CAPITALCOM:US500 chart mapping/analysis.
S&P 500 holding in choppy consolidation after November ripper rally.
Trading scenarios into EOY:
Bullish reaction to macro economic news = break above ~4610 trading range (yellow dashed) towards ascending trend-line (green) / red box confluence zone.
Bullish extension target(s) = re-test ~4820 previous/historical ATH.
Bearish reaction to macro economic news = break below ~4524 trading range (yellow dashed) towards ~4450 / 200SMA dynamic support confluence zone.
Bearish extension target(s) = Golden Pocket / descending trend-line (white dotted) confluence zone aka "Return to Scene of Crime".
US100 ~ Ho Ho Santa Rally or EOY Bah Humbug Bust? (4H)CAPITALCOM:US100 chart mapping/analysis.
Nasdaq 100 consolidating into key macro economic news, much like S&P 500.
Trading scenarios into EOY:
Bullish reaction to macro economic news = break above ~16167 trading range (yellow dashed) towards ascending trend-line (green) / red box confluence zone.
Bullish extension target(s) = new historical highs surpassing ~16770 November 2021 high.
Bearish reaction to macro economic news = break below ~15690 trading range (yellow dashed) + descending trend-line (light blue) towards 78.6% Fib / 200SMA dynamic support confluence zone.
Bearish extension target(s) = descending trend-line (white dotted) / ascending trend-line (green) / Golden Pocket confluence zone.
AU200 ~ Commodities or Follow US Markets? ASX Wants Both! (2H)CAPITALCOM:AU200 chart mapping/analysis.
ASX grinding higher into EOY, benefitting from relative strength in global commodities & precious metals.
Trading scenarios into EOY:
Continued commodity strength + US bullish momentum = rally into 23.6% Fib / ascending trend-line (light blue dotted) confluence zone.
Rally would coincide with re-test of bearish breakdown from pennant pattern.
Commodity weakness + US market capitulation = re-test of 38.2% Fib, into horizontal line (yellow dashed) / 200SMA / lower range of ascending parallel channel (green dashed) uber confluence zone.
DXY/USD ~ Bullish Reversal / Inverse H&S (1H)TVC:DXY chart mapping/analysis.
Bullish inverse H&S identified on lower timeframe charts, pending breakout confirmation.
Trading scenarios into EOY:
Inverse H&S breakout = extrapolated move into 23.6% Fib / ~106 horizontal line (yellow dashed) / upper range of descending parallel channel (light blue) confluence zone.
Breakout failure = re-test 50% Fib aka "Right Shoulder".
Further bearish capitulation = re-test lower range of ascending parallel channel (white) / Golden Pocket confluence zone.
Major macro economic news this week = higher probability of implied volatile swings in either direction.
AUDUSD ~ Risk Off Sentiment: Stuck In Limbo into EOY (2H)FX_IDC:AUDUSD chart mapping/analysis.
Aussie Dollarydoos struggling to regain bullish momentum after early December peak.
Trading scenarios into EOY:
Preliminary trading range = ~66.20 to ~65.25.
Break above ~66.20 = regain bullish momentum.
Bullish target(s) = re-test descending trend-line (white dotted) / upper range of ascending parallel channel (green).
Break below ~65.25 = extend bearish capitulation.
Bearish target(s) = 61.8% Fib / lower range of ascending parallel channel (green) confluence zone.
200SMA also acting as dynamic resistance, reinforcing bearish rollover.
Major macro economic news this week = higher probability of implied volatile swings in either direction.
US Oil ~ Macro Headwinds > Market Intervention (1H)TVC:USOIL chart mapping/analysis.
Crude Oil reversing all gains manufactured by OPEC+ production cuts & Middle-East conflict premiums, while threatening to further capitulate due to growing macro headwinds leading into 2024..
Trading scenarios into EOY:
Bullish resurgence = rally above horizontal resistance line (yellow dashed) into 23.6% Fib & upper range of descending parallel channel (white) / re-test ascending trend-lines (green dotted) confluence zone.
Bearish continuation = break below previous low (~68.80) towards ~67 horizontal line (yellow dashed) / descending trend-line (light blue / lower range of descending parallel channel (white) confluence zone.
Neutral scenario = further sideways chop until next OPEC+ catalyst / key macro economic development.
Gold/XAUUSD ~ Blow-off Top Keeps On...Blowing? (2H)TVC:GOLD chart mapping/analysis.
Gold's massive (algo-triggered) blow-off top killed the bullish momentum - pending further selling pressure if DXY/bond yields decide to rally into end of the year..
Trading scenarios into EOY:
Selling pressure towards 50% Fib initial support zone.
Bearish EOY capitulation target = Golden Pocket support zone.
Expect any bullish reversal to be met with sellers, pending underlying relative strength in DXY/bond yields.
38.2% Fib / 200SMA confluence zone as potential target for short positioning, TBC.
Copper ~ Help Me Obi-China, You're My Only Hope (2H)CAPITALCOM:COPPER chart mapping/analysis.
Copper - off its October lows, yet still contending with global macro headwinds & China's difficulty in shaking off its deflationary economic funk..
Trading scenarios into EOY:
Prelim trading range = ~3.93 - ~3.73.
Under bearish pressure from 38.2% Fib rejections.
Bullish reaction to China/macro economic news = bounce off lower range of parallel channel (green) + 200SMA confluence support / break above 38.2% Fib / break above ~3.93 upper trading range.
Bullish extension target(s) = 50% Fib / upper range of parallel channel (green) confluence zone.
Bearish reaction to China/macro economic news = break below ~3.73 lower trading range / lower range of parallel channel (green) / break underneath 200SMA, becoming dynamic resistance.
Bearish extension target(s) = 23.6% Fib / lower range of descending parallel channel (light blue).