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
CFD
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).
USDCHF - Getting Over-Sold❗️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
on Daily: Left Chart
USDCHF has been bearish trading inside the falling red channel. However it is currently approaching a strong daily support zone so we will be looking for buy setups on lower timeframes.
on H4: Right Chart
For bullish momentum to prevail and trigger our buy setup, a break above the recently highlighted grayed high is necessary.
Meanwhile , USDCHF would be bearish and can still trade lower to test the lower bound of the daily support. In this case we will be looking for new buy setups.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
US100 ~ November TA Outlook V2 (4H Intraday)CAPITALCOM:US100 chart mapping/analysis V2.
Always good practice to revisit your chart(s) after couple days with a refreshed perspective, to determine whether your initial TA has complimented developing price action, or your drawings need to be updated/overhauled.
Revisit updates:
Re-adjusted ascending parallel channel (green line) + highlighted middle trend-line (white dashed) to emphasize potential resistance of breakout price action
Extended descending trend-line (light blue dotted) to connect pivot points from Nov 2021 Dec 2021 peaks
Remaining TA drawings have held up so far, TBC.
US500 ~ November TA Outlook (4H Intraday)CAPITALCOM:US500 chart mapping/analysis.
Ripping bounce off lower range of descending parallel channel (white) into upper range of Golden Fib Ratio (66% Fib / ~4370).
TBC consolidation/retracement for further bullish momentum to re-test upper range of parallel channel, or bearish continuation of downward trend.