XAUUSD Gold : 20.4 , Decision making time! Focus up!Guys and gals, let's shut down emotion and think.
Connecting higher lows since the beginning of 2022 show strong support between 1935-1940.
Is there any fundamental change to what is going on for the last 4 month? Is inflation gone away? Is certainty back controlling the market?
If the answer is NO, why would Gold break down this significant level?
Inflation and uncertainty is extremely bad and getting worse, providing strong fundamental backwind for the Gold to continue to rally.
Also, from a technical perspective, we see a 'falling wedge' pattern, which is a bullish continuation pattern of consolidating highs and lows in a sharp slope down.
With a break above the 'falling wedge' - Once again, a new high will be targeted for Gold, with 1960, 1980, 2000, as immediate possible targets, a break above 1954 with a close would be founded confirmation.
If Gold breaks below 1935, it could could continue down to 1890 - This is the less likely scenario and would be a surprise.
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Daytradingsignal
WTI Crude Oil - The crossroad you need to know about !18.4 1) The breakout above the down trend-line starting from the highest high , when the price went above 101, marked the beginning of the movement we've seen so far (+$8).
2) There's 2 technical scenario playouts:
*Break above 108.20 with a 4h/1d close - 113.40 to 114.64 may be reached in the very short-term
*Break below 104.50 with a 4h/1d close - 97.90 to 93.20 may be reached in the very short-term
3) The circles on the chart mark the horizontal levels of support/resistance which play a very important role in price action.
4) Converging lows and highs are so far in the shape of a 'rising wedge" which could mean there's a higher potential for reversal down.
5) Fundamentally, oil is currently acting within an 'emotional' investor phase , which means in simple terms, there's no real shortage of oil so far - And reality may hit the price hard at any given time.
OPEC, Aramco, SHELL, USA all have capability to supply the entire world with oil if necessary.
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XAUUSD Gold : Don't trade today ,18.4, without seeing this! Let's preform a quick surgery on the Gold's chart ;)
1) Gold broke higher than a big weekly triangle consolidation on 8th of April 2022 once price surged above 1945 and confirmed with a close above.
2) Another consolidation in the shape of a wedge took place between 8th of April 2022 to 12th of April 2022 until price surged above 1960 and confirmed with a close above.
3) What launched both of the above points (breakouts) - Is a 'reverse head and shoulder pattern' which is a bullish reversal candlestick pattern. Feel free to read about it and expand your knowledge.
A close above the neck-line of 1965 allowed for the continuation of the up-trend.
4) Currently Gold is facing resistance around 1995-2006 , with a close above - The new technical target would be to retest the ATH of March, ~2070.
***It's important to note that the clear bullish technical pattern is supported by strong bullish fundamentals of inflation and uncertainty***
***It's important to note that Gold may not go up in a straight line and may retest support levels of 1980, 1960 and 1940 - But even so, the big picture trend would still be bullish***
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DAX - Intraday long reversal Bouhmidi-BandsToday we had a chartbook daytrading signal using the Bouhmidi-Bands. After testing the lower Bouhmidi-Band the market directly reversed to the upside into in BB-Bandwidth.
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Do you want to know more about the BB and apply them on your TV-Charts? Check my script here:
$AMD Trade Idea$AMD Trade Idea
Watching $AMD over Friday's hi's. Had relative strength Friday and held up nicely during a nasty day with the news on the new virus out of Africa. I'll be waiting the first 30 mins of the market open to see what the market gives us but if we can get a bounce on the Q's I will look to enter this Trade.
$AMD
Entry: 158
Targets: 159.50, 160.50, 62, 166
Stop: 15%
AUD/USD SELL SIGNALHey tradomaniacs,
welcome to another free trading-setup.
AUD/USD: Daytrade-Execution
Notice: All trades involve a higher risk ahead important upcoming events! Only execute if you are accepting a high risk due to possible volatility!
Market-Sell-Order: 0.72520
Stop-Loss: 0.72600
Point of Risk-Reduction: 0.72450
Take-Profit: 0.72225
Stop-Loss: 8 pips
Risk: 0,5% -1%
Risk-Reward: 4,0
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
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ETH USDT: Buy Trade setup @ 3150Hello everyone, hope you are doing well.
Welcome to another trade setup as a part of "Aglogains - Daily Trade Series".
On the 1H timeframe we also see a three wick rejection, the price tried to break bellow 3090 3 times and failed to sustain the move.
My entry is on the 1H timeframe, after I observed a double bottom with a bullish confirmation.
Entry - 3150
Stop-loss - 3090 (60 points)
Take profit - 3230 (80 points)
1:1.33 RISK TO REWARD
Will keep you posted on the progress. Happy trading.
What is Day Trading ?
📊 What Is Day Trading ? 📊
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Day trading usually refers to the practice of purchasing and selling a security within a single trading day. While it can occur in any marketplace, it is most common in the foreign exchange (forex) and stock markets. Day traders are typically well-educated and well-funded. They use high amounts of leverage and short-term trading strategies to capitalize on small price movements that occur in highly liquid stocks or currencies. Day traders are attuned to events that cause short-term market moves. Trading based on the news is a popular technique. Scheduled announcements such as economic statistics, corporate earnings, or interest rates are subject to market expectations and market psychology. Markets react when those expectations are not met or are exceeded–usually with sudden, significant moves–which can greatly benefit day traders.
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ASCENDING TRIANGLE CAKE/USDTHello guys, there is an ascending triangle in cake/usdt 15 min. If the price breaks the resistence of 14.063 we have to be alert and enter with this parameters:
OPEN PRICE: 14.175 (YOU CAN PUT A BUY STOP ORDER)
TP: 14.806
ST: 13.752
RATIO: 1.5
I will publish the result in a few hours. lets do this guys
Is A Pullback Due Or Are We Shooting Up Into The Unknown?This pair did a nice swing buy for the entire week last time. But, according to the daily, we may be running out of a little steam just for a bit. I saw that we wicked out at the daily level, so we may be due for a pullback coming down to the monthly area around 3897.3. That will retest the last higher high and then create a continuation up if respected.
If it busts through the monthly. I'll ride it down to the daily area around 3788.3 to see if it'll try for another bull run from there.
As you can see, my BULL TP went into unknown territory. That's what I'm looking forward to in the long run. But let's focus on what'll happen this week first.
BULL TPs:
• 3960.4
• 3979.5
• 4032.8
BEAR TPs:
• 3901.3
• 3870.8
• 3851.8
• 3788.3
Easy setups in tradingI love these simple setups in trading. They keep recurring and are easy to identify if you know what to look for.
Basically, such a setup consists of three simple components.
1. the impulse. A strong move that is different from previous moves.
2. the correction of the movement.
3. the continuation. Breakout from the corrective movement in the direction of the impulse.
Ideally, the continuation is followed by a pullback. This offers excellent entry opportunities.
However, such a setup is by no way the "holy grail". Nevertheless, every trader should know the standard setups.
Happy Weekend everybody!
Gold( Xau/Usd) Weekly Outlook!!Thanks for your support from the previous post on Gold analysis. Last week was a wonderful week Caught about 500 pip in Gold short opportunity. This week we still be looking for short opportunity to capitalize on the monthly bearish volume which aligns with the weekly
Note: we need gold to at least retrace a little bit to 1875-1880 zone for short opportunity and also for continuation to downside if it breaks 1850 level we expect to see
Target 1=1800
Follow me for more updates. & setups!!