Silver, You should dump your paper and buy some physicalOANDA:XAGUSD
Paper trading things like silver and gold are a total joke. You who trade paper shares are trading in mostly fake, extremely diluted, worthless shares. Your paper certificate is diluted somewhere on a ratio of 900 paper shares to every actual physical once of silver.
Soon enough, actual silver will decouple itself from these made up paper shares. When it decouples, physical silver will go through the roof, and the silver paper market will crash, because it will be no longer tied to silvers actual spot.
It is a massive risk to be involved in paper shares of anything that is diluted so much, its insane. Hard times are very close, the crash is right around the corner. Best invest in physical, or if not, be aware of the risks that come with the paper market. Also. To those using technical analysis on Silver or Gold.. It does not work so well, especially right now, because precious metals have too much reaction to financial instability and economic crisis.
I wish all a great day and to stay strong in the hard time that will come upon us all. Prayers. Strength and Unity.
Commodity
Inverse head & shoulders for PalladiumIf we break the neckline, price may test the weekly pivot point 1440.
Disclaimer – WhaleGambit. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
XAUUSD is accumulating for a 1925 target.Strong 1D candle for Gold today, still some way off the 1day MA50. The rebound was achieved on the 1day MA100.
There are strong similarities between February-March and August-October as you see. The rising RSI validates that the pattern is on the Double Bottom pricing. One last drop for a Triple Bottom is possible.
Perfect time to buy and Target Fibonacci 0.786 at 1925.
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🥇Gold🥇 Analyze (Short term, 03/09/2023)!!!Gold is approaching the PRZ(Price Reversal Zone) and TRZ(Time Reversal Zone).
I expect the rise in Gold prices to be temporary and Gold will again drop to the 🟢support zone($1811.2-.$1804.6)🟢.
Gold Analyze ( XAUUSD ), 30-min Time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post.
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GOLD - Potential Buy Setup - Analysis #2/50Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
on WEEKLY: Left Chart
GOLD is retesting a support zone and round number 1800. So we will be looking for buy setups on lower timeframes.
on H1: Right Chart
For the bulls to take over, we need a momentum candle close above the last major high in red.
Meanwhile, until the buy is activated, GOLD can still trade lower till the 1800 support or even break it downward.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Levels discussed during the webinar 9th March9th March
DXY range between 105.35 and 105.90
NZDUSD: Counter trend up, 0.6140, SL 30, TP 60
AUDUSD: Counter trend up, 0.6640, SL 30, TP 60
(Choose between either nzd or aud)
USDJPY: possibly wait for tmr break 61.8% below 136.40, SL 60 TP 100
GBPUSD: Sell on break of 1.1850 (1.1835) SL: 30 TP 60
EURUSD: buy 1.0565 SL 40pips, TP 70pips
USDCHF: could go down, but not good RR
USDCAD: buy from 1.3825, SL 30 TP 70 (counter trend opportunity exists too)
GOLD: no trade unless it breaks a clear level.
GBPJPY: down 161.20 first
XAUUSD: The closest to the 1D MA100 since November.Gold hit the 3 month HL trend line today, turning the 1D time frame red technically (RSI = 38.134, MACD = -12.150, ADX = 37.931) and coming the closest to the 1D MA100 since November 10th 2022.
Holding those two is a major buy entry (TP = 1,856) all the way to R1 but breaking below them and S1, will make us close and open shorts aiming at the 1D MA200 (TP = 1,776).
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XAUUSD on February's Support ZoneXAUUSD after its biggest daily drop in recent months, it reached the Support Zone of February.
The MA50 (1D) has entered this Support Zone and can support as it is intact since November 10th 2022.
Legitimate short term buy opportunity.
Trading Plan:
1. Buy on the current market price.
2. Buy if the price breaks over Fibonacci 0.382 and retests the Pivot.
Targets:
1. 1280 (MA50 (4H) and Pivot).
2. 1856 (Fibonacci 0.618 and Resistance 1).
Tips:
1. The RSI (4H) is rebounding after breaking deep into the oversold level. It has been a strong buy signal before.
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be ready to another gold short position hello guys...
in my opinion, every chance you get you can get a short position on xauusd.
now a knife-down pattern happen and I believe a retrace is going to occur after that on the green area it a chance you get a confirmation for the sort position. set an alarm, my friend
always do your research.
If you have any questions, you can write them in the comments below, and I will answer them.
And please don't forget to support this idea with your likes and comment
Gold Outlook 7th March 2023Overnight, Gold retraced from the price area of 1858.50 to retest the 1846.80 key support level.
Although the price broke below the upward trendline, it would still be too early to consider the possibilities of a deeper retracement to the downside, since the support level held prices up.
As the current price action develops to indicate a potential rejection of the support level, look for a couple more conditions to develop before expecting further more significant upside on Gold:
- further weakness in the DXY (especially if it breaks below 104)
- high impulsive move on the EURUSD (beyond the key resistance level of 1.07)
XAUUSD Trading approach based on the MA50 (1D)Gold reached a harmonic Resistance, previously being a Support.
During the uptrend such levels when tested as Supports and held, extended the uptrend.
If we are on a new downtrend, this level has to hold.
Trading Plan:
1. Sell as long as the price is below the harmonic Resistance (white line).
2. Buy is it crosses above the MA50 (1D).
Targets:
1. 1960 (Resistance 1).
2. 1780 (MA200 1D) and 1740 (lower liquidity level).
Tips:
1. The MACD is also inside its 3 month Resistance Zone. The next Bear Cross will confirm the downtrend.
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WTI CRUDE OIL Sell SignalWTI Crude Oil reached Resistance Zone (1).
Breaking above the Declining Resistance resembles late January.
Limited upside to Resistance Zone (2) based on the past 4 months.
Trading Plan:
1. Sell on the current market price.
Targets:
1. 74.00 (over Support Zone 1).
Tips:
1. The MACD is also inside its 3 month Resistance Zone. The next Bear Cross will confirm the downtrend.
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Notes:
This is an extension of this trading plan:
Gold Outlook 6th March 2023Gold has been trading higher since the end of February and the start of March, with the price climbing from the 1804 price area up to the current level of 1854.
This upward move was predominantly due to the weakness (wide consolidation) of the DXY and also due to the market anticipation for further interest rate hikes to come from the US.
Further interest rate hikes could create an unavoidable scenario of a global recession, hence the upward move in Gold prices.
As the price consolidates, a brief retracement to the downside could test the upward trendline and the support level of 1847. Beyond that support level, the next key support level is at the 1830 price level.
With Fed Chair Powell set to testify on Tuesday and Wednesday, volatility in Gold is likely to be significant.
I'd prefer to look for a continuation of the uptrend. Looking for the price to break above the 1860 price level and climb toward the next resistance level of 1870.
Gold Long Analysis to 1869 (Short Term View)📈On our last Gold analysis, we said that Gold would be heading higher towards 1854 & it finally did on Friday. However, due to how bullish the weekly candle closed, it is likely that prices will head higher towards 1869-1880. This will be a good entry zone, to short market back towards 1760-1730📉
This will be the FINAL leg down, before we invest heavily into Gold buys & target NEW HIGHS. A close above 1909 will invalidate sells & we'll close our sells at 400+ PIPS profit.
Mastering the Art of Technical Analysis (Part 6)Advantages of Technical Analysis
- Easy to Use: Technical analysis is easy to use and understand, making it accessible to traders of all levels of experience.
- Objective: Technical analysis is objective, as it relies on data and mathematical calculations rather than subjective opinions.
- Helps Identify Trends: Technical analysis helps traders identify trends, which can be used to make informed trading decisions.
- Provides Entry and Exit Points: Technical analysis can help traders determine entry and exit points for trades, allowing them to make profitable trades.
- Can be Used with Any Asset Class: Technical analysis can be used with any asset class, including stocks, commodities, and forex.
Disadvantages of Technical Analysis
- Past Performance Doesn't Guarantee Future Results: While technical analysis is based on historical data, it does not guarantee future results.
- Can be Subjective: Technical analysis can be subjective, as traders may interpret the same data differently.
- Not Suitable for All Market Conditions: Technical analysis may not be suitable for all market conditions, as some markets may be too volatile or have limited historical data.
- Overreliance on Indicators: Some traders may over rely on technical indicators, which can lead to false signals and poor trading decisions.
- Requires Constant Monitoring: Technical analysis requires constant monitoring of market data and indicators, which can be time-consuming.
Mastering the Art of Technical Analysis (Part 5)How to Use Technical Analysis for Trading
Technical analysis is a popular tool used by traders to analyze market trends and make informed trading decisions. It involves analyzing past market data, such as price and volume, to identify patterns and trends that can be used to predict future price movements. Here are some key ways to use technical analysis for trading:
Identifying trading opportunities using technical analysis
Technical analysis can be used to identify potential trading opportunities by analyzing market trends and patterns. Traders can use charts and technical indicators to identify trends and patterns, such as support and resistance levels, trendlines, and chart patterns. By identifying these patterns, traders can make informed trading decisions and take advantage of potential opportunities.
Setting up trading strategies using technical indicators
Technical indicators are tools that traders use to analyze market data and identify potential trading opportunities. These indicators can be used to generate signals for entry and exit points, as well as to identify trends and patterns. Common technical indicators include moving averages, oscillators, and trend indicators. Traders can use these indicators to set up trading strategies and make informed decisions about when to enter or exit a trade.
Understanding risk management and position sizing using technical analysis
Risk management is an important aspect of trading and involves managing potential losses and minimizing risk. Technical analysis can be used to help traders manage risk by identifying potential support and resistance levels, as well as by providing signals for stop-loss orders. Position sizing is another important aspect of risk management, which involves determining the appropriate size of a trade based on a trader's account size and risk tolerance. Technical analysis can be used to help traders determine appropriate position sizes based on market trends and patterns.
Combining technical analysis with other trading techniques
While technical analysis can be a powerful tool for trading, it is important to combine it with other trading techniques, such as fundamental analysis and market news. Fundamental analysis involves analyzing economic and financial data to determine the intrinsic value of an asset, while market news involves analyzing current events and news that may affect the market. By combining these techniques, traders can gain a more comprehensive understanding of the market and make informed trading decisions.
However, it is important to remember that technical analysis is not foolproof and should be used in conjunction with other forms of analysis and market news.
Additionally, traders should always practice proper risk management techniques to minimize potential losses.
Mastering the Art of Technical Analysis (Part 4)Candlestick Patterns
Candlestick charts are a popular type of chart used by traders to analyze price movements. They display the opening and closing prices, as well as the highs and lows, of an asset over a specific time period. Candlestick patterns are formed by the arrangement of multiple candlesticks and can provide insights into market trends and potential price movements.
Doji
A Doji is a candlestick pattern that has the same opening and closing price, or a very small difference between the two. This pattern often indicates indecision in the market and can be a signal for a potential trend reversal.
Hammer
A Hammer is a bullish reversal pattern that forms after a downward trend. It is characterized by a long lower shadow and a small body, and it indicates that buyers have gained control and are pushing the price up.
Shooting Star
A Shooting Star is a bearish reversal pattern that forms after an upward trend. It is characterized by a long upper shadow and a small body, and it indicates that sellers have gained control and are pushing the price down.
Engulfing
An Engulfing pattern is a reversal pattern that is formed by two candlesticks. The first candlestick is smaller and the second candlestick completely engulfs the first one. A bullish Engulfing pattern forms at the end of a downtrend and indicates a potential trend reversal. A bearish Engulfing pattern forms at the end of an uptrend and indicates a potential trend reversal.
Harami
A Harami pattern is a reversal pattern that is formed by two candlesticks. The first candlestick is larger and the second candlestick is smaller and is completely engulfed by the first candlestick. A bullish Harami pattern forms at the end of a downtrend and indicates a potential trend reversal. A bearish Harami pattern forms at the end of an uptrend and indicates a potential trend reversal.
Candlestick patterns are an important tool for technical analysis and can provide insights into market trends and potential price movements. By understanding the key principles of each candlestick pattern, traders can gain insights into market trends and make informed trading decisions. However, it is important to note that candlestick patterns are not foolproof and should be used in conjunction with other forms of analysis, such as fundamental analysis and market news.
Mastering the Art of Technical Analysis (Part 3)Technical indicators are mathematical calculations that are applied to price and volume data to identify potential trading opportunities. They are based on the belief that certain patterns or trends in price and volume data can provide insights into market trends and potential price movements. Technical indicators can be used to confirm trends, identify potential entry and exit points for trades, and to provide signals for when to buy or sell.
Moving Averages
Moving averages are one of the most common technical indicators used by traders. They are used to smooth out the price data and provide a clearer picture of the overall trend. Moving averages can be calculated using different time periods, such as 50-day moving average or a 200-day moving average. A crossover between a shorter-term moving average and a longer-term moving average is often used as a signal for when to buy or sell.
Relative Strength Index (RSI)
The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. The RSI ranges from 0 to 100, with readings above 70 considered overbought and readings below 30 considered oversold. Traders often use the RSI to identify potential trend reversals or to confirm trends.
Bollinger Bands
Bollinger Bands are a technical indicator that is used to measure volatility. They consist of three lines - a simple moving average (SMA) in the middle, and two outer bands that are two standard deviations away from the SMA. The outer bands represent the upper and lower price ranges, and the width of the bands changes based on the volatility of the asset. Traders often use Bollinger Bands to identify potential entry and exit points for trades.
Moving Average Convergence Divergence (MACD)
The Moving Average Convergence Divergence (MACD) is a trend-following momentum indicator that uses two moving averages of different lengths to identify potential entry and exit points for trades. The MACD line is calculated by subtracting the 26-day exponential moving average (EMA) from the 12-day EMA. A signal line, which is a 9-day EMA, is then plotted on top of the MACD line. Traders often use the MACD to identify potential trend reversals or to confirm trends.
Fibonacci Retracement
The Fibonacci retracement is a technical indicator that is used to identify potential support and resistance levels based on the Fibonacci sequence. The Fibonacci sequence is a mathematical sequence of numbers, in which each number is the sum of the two preceding numbers. The retracement levels are calculated based on the high and low points of a particular price movement, and they are used to identify potential entry and exit points for trades.
Mastering the Art of Technical Analysis (Part 2)Understanding the Basics of Technical Analysis
Technical analysis is a method of analyzing financial markets that relies on studying past market data to identify patterns and make predictions about future price movements. The aim is to identify opportunities to buy low and sell high or vice versa.
What is technical analysis and why is it important for traders?
Technical analysis is the study of market data, primarily price and volume data, to identify patterns that can be used to make informed trading decisions. It is important for traders because it provides a way to interpret market trends and identify potential entry and exit points for trades.
Unlike fundamental analysis, which focuses on the underlying economic factors that influence a security's value, technical analysis relies solely on the price and volume data of a security. This means that technical analysis can be used on any asset class that has a price chart available, including stocks, bonds, currencies, and commodities.
Technical analysis can be used for short-term trading or long-term investing. For short-term traders, technical analysis can help identify potential entry and exit points for trades based on the movement of price and volume data. For long-term investors, technical analysis can help identify the overall trend of a market or a specific asset class.
The key principles of technical analysis: price action, trends, and support and resistance levels.
The key principles of technical analysis are price action, trends, and support and resistance levels.
Price action refers to the movement of an asset's price over time, and it is the primary focus of technical analysis. Price action can be analyzed using different types of charts, including line, bar, and candlestick charts.
Trends refer to the direction of price movement, and they can be classified as uptrends, downtrends, or sideways trends. Identifying the trend of a market or a specific asset is an essential part of technical analysis, as it helps traders understand the overall direction of price movement.
Support and resistance levels are points on a chart where the price has historically tended to stop moving or reverse direction. Support levels are areas where buyers tend to enter the market, as they believe the price is low enough to represent good value. Resistance levels are areas where sellers tend to enter the market, as they believe the price is high enough to represent good value.
Different types of charts: line, bar, and candlestick charts.
Different types of charts are used in technical analysis, including line, bar, and candlestick charts.
A line chart connects the closing prices of an asset over a period of time with a line, providing a simple view of the overall trend. Line charts are useful for identifying the direction of the trend but do not provide much detail about the price movement within a specific period.
A bar chart shows the opening and closing prices of an asset, as well as the high and low prices during a particular period. Each bar represents a specific time period, such as a day or an hour. Bar charts provide more detailed information about price movements than line charts, as they show the price range for each period.
Candlestick charts display the same information as bar charts, but they use a visual representation of candles to convey price movements. Each candle represents a specific time period, and the color of the candle represents whether the price closed higher or lower than it opened. Candlestick charts provide a more detailed view of price movements than bar charts and are widely used by traders.
Mastering the Art of Technical Analysis (Part 1)Technical analysis is an essential tool for traders to analyze market movements and make informed trading decisions. Whether you are a beginner or an experienced trader, mastering technical analysis can greatly improve your trading performance.
We will explore the basics of technical analysis, the different types of charts and indicators, and how to use them effectively.
Understanding the Basics of Technical Analysis
- What is technical analysis and why is it important for traders?
- The key principles of technical analysis: price action, trends, and support and resistance levels.
- Different types of charts: line, bar, and candlestick charts.
Types of Technical Indicators
- Moving averages: Simple Moving Average (SMA) and Exponential Moving Average (EMA).
- Oscillators: Relative Strength Index (RSI), Stochastic Oscillator, and Moving Average Convergence Divergence (MACD).
- Volume Indicators: On-Balance Volume (OBV) and Chaikin Money Flow (CMF).
- Fibonacci Retracement and Extension Levels.
How to Use Technical Analysis for Trading
- Identifying trading opportunities using technical analysis.
- Setting up trading strategies using technical indicators.
- Understanding risk management and position sizing using technical analysis.
- Combining technical analysis with other trading techniques.
Technical analysis is a valuable tool that traders can use to make informed trading decisions. By understanding the basics of technical analysis and using it effectively, traders can increase their chances of success in the markets.
GOLD - Good Opportunity Hi, this is my new update for GOLD. In the month of February gold lost 8% of its value, but I think that was a healthy correction to get a bullish momentum in March. We tested big support level around 1800 - 1820$ and the same time we also tested 50 and 100 weeks moving averages and those levels helped us to get big bounce and break the down trendline channel. Right now we are going to test both the resistance 1858 - 1864$ and the 50 days moving average. I expect we are going to get a temporary pullback from the resistance and perhaps it is going to be the last accumulation for the traders and after that we are going to break those levels. It has higher probability that we are going up, since we have two beautiful gaps that we have to fill.
Gold Outlook 2nd March 2023Overnight, Gold saw significantly choppy price action as the price broke above the resistance level of 1834 to trade up to the 1846 price area.
However, as the DXY recovered in strength, Gold has retraced to retest the resistance and turned support level again.
At this level, look towards the DXY for further hints regarding the next directional bias of Gold.
If the DXY continues to strengthen, Gold could trade lower down to the next support level at 1819.75, which aligns with the 61.8% Fibonacci retracement level.