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Fibonacci

Natural gas Wave Analysis 29 November 2024 - Natural gas reversed from support zone - Likely to rise to resistance level 3.550 Natural gas recently reversed up from the support zone located between the support level 3.150 (former multi-month high from May, June and October), 20-day moving average and the 50% Fibonacci correction of the upward impulse 1 from the start of November. The upward reversal from the support level 3.150 stopped the previous minor correction 2 – which belongs to wave (3) from the start of November. Given the clear daily uptrend, Natural gas can be expected to rise to the next resistance level 3.550 (which stopped the previous sharp impulse wave 1 earlier this month).
FX_IDC:USDNTGLong
by FxProGlobal
EURJPY Wave Analysis 29 November 2024 - EURJPY broke support zone - Likely to fall to support level 156.00 EURJPY currency pair recently broke the support zone located between the support level 160.00 and the 61.8% Fibonacci correction of the upward impulse from September. The breakout of the support level 160.00 accelerated the C-wave of the active ABC correction (2) from the end of October. Given the clear daily downtrend, EURJPY currency pair can be expected to fall to the next support level 156.00 (which reversed the price sharply in August and September).
Short
by FxProGlobal
Long gold after a pullbackBros, because the geopolitical situation is tense again, the market risk aversion is high, and gold has broken through the recent short-term resistance and reached near 2667. Since gold has made a breakthrough and chosen a direction, we must follow the trend and go long on gold, and we cannot blindly short gold. The market risk aversion stimulates buying, so after gold breaks upward, the gold retracement space may not be too large, so we maintain the continuity of the trend in trading. If gold falls back to the continued rising position area, then we can start to try to go long on gold, that is, the current continued rising support area is 2655-2645 area. Then in this range, we can start to try to go long on gold.If you want to learn more detailed trading ideas and get more trading signals, you can choose to join the channel at the bottom of the article to make trading no longer difficult and make making money a pleasure!
OANDA:XAUUSDLong
by Trader_Marvin
Continue to hold long gold positionsBros, as I said in my last article, since gold has chosen to break upward after the shock, there will not be much retracement in a short period of time. Although gold has encountered resistance and fallen back near the 2665 position many times in the short term, as long as it does not fall below the 2660-2655 area during the decline, then gold must have room to rise. For this round of gold rise, I think gold is likely to try to touch the 2680 area. So we can hold the long positions we currently hold with confidence and wait for the profit to expand! Bros, are you following me to go long on gold? If you want to learn more detailed trading ideas and get more trading signals, you can choose to join the channel at the bottom of the article to make trading no longer difficult and make making money a pleasure!
OANDA:XAUUSDLong
by Trader_Marvin
EURUSD: Optimal Selling Zone!Welcome back! Let me know your thoughts in the comments! ** EURUSD Analysis ! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Welcome back! Let me know your thoughts in the comments!
Short
by OGT_Forex
BTC is going finally to 100k?Hey guys! We finishing this week with nice news? So quick update about bitcoin situation. We have here bull MA crossing oon 4H TF, so we can potentially see some long movement on the weekends. Another bull sign can be a Thannksgiving Day, so markets can react positive. On the other hand we have descending volumes and not really active movement. Don't forget to use SL and follow risk management! What's your thoughts about the short market condition?
Long
by SheTradesHub
GOLD → Interest in metal is growingFX:XAUUSD on the background of support from the dollar correction updates local maximums and aspires to the liquidity zone. Reduced liquidity due to the holiday weekend in the West also plays its role on the markets Gold holds within the boundaries of the local ascending channel on the background of restrained dynamics of the US dollar, mainly due to the data on inflation... Dovish sentiment regarding further Fed policy actions continues to support the gold price, which is not a subject of interest. There is growing interest in gold as a hedge asset on the back of the exalized conflict in Syria, as well as in Eastern Europe. Technically, the emphasis is on the channel borders, as well as on the resistance of 2677 and 2690. A sharp approach of the price to these zones may provoke a pullback. Resistance levels: 2667, 2677, 2690 Support levels: 2660, 2654 If the bears hold 2660, the gold may correct to the channel support. But at the moment the price is heading towards the resistance. Keep an eye on these levels! Regards R. Linda!
FX:XAUUSDLong
by RLinda
8
EURUSD H1 29/11/2024 - SELL below 1.0540 OR BUY above 1.0580Timeframe Analysis D1 (Daily Timeframe) Trend: Overall, the D1 chart indicates a downtrend, but the pair is now in a consolidation phase with bullish attempts. Price has bounced off the 1.0500 region and is testing Fibonacci 38.2% (1.0577) and 61.8% (1.0580) as key resistance zones. Key Levels: Resistance: 1.0580–1.0597: Daily high and Fibonacci resistance (likely to hold unless a strong breakout occurs). 1.0628–1.0678: Higher Fibonacci levels if the breakout continues. Support: 1.0540: 100% Fibonacci level (current key support). 1.0500: Major psychological and structural support. H4 (4-Hour Timeframe) Trend: Price is attempting to remain above the Ichimoku cloud, indicating possible bullish momentum. The 200 SMA at 1.0545 is holding as support, reinforcing the bullish bias. Indicators: RSI: Neutral at 56, with room for further upside. Stochastic: Just left overbought territory, signaling a potential pullback before further upside. MACD: Positive, with the histogram shrinking slightly, suggesting a slowing bullish push. Key Levels: Resistance: 1.0580–1.0597 (Fibonacci and recent highs). Support: 1.0545–1.0550: Near-term support zone (aligns with 200 SMA). 1.0515: Strong support if price breaks lower. H1 (Hourly Timeframe) Trend: The H1 chart shows a slight pullback from 1.0580, with consolidation near the 1.0550 level. Indicators: RSI: Neutral at 48–50, with no clear directional bias. Stochastic: Bearish crossover in the oversold region, hinting at a potential reversal upward soon. ATR: 13 pips, indicating moderate volatility. Key Levels: Resistance: 1.0580–1.0597 (key resistance zone). Support: 1.0540–1.0550: Current consolidation zone. 1.0515: Lower support. M30 (30-Minute Timeframe) Trend: The M30 chart confirms the pullback, with price retesting support at 1.0550. Indicators: RSI: Weak at 43, hinting at slight bearishness. Stochastic: Oversold and trying to reverse upward. MACD: Neutral, showing consolidation. Key Levels: Same as H1. Trade Scenarios Scenario A: Bullish Continuation (BUY Setup) Rationale: If the price holds support at 1.0550–1.0545 and breaks above 1.0580, the pair could target higher resistance levels near 1.0597 or even 1.0628. Setup Details: Entry Price: Above 1.0580 (confirmation of breakout). Stop-Loss: 1.0550 (below consolidation support). Take-Profit Levels: TP1: 1.0597 (Daily high). TP2: 1.0628 (next Fibonacci level). Risk/Reward Ratio: ~1:2. Scenario B: Bearish Pullback (SELL Setup) Rationale: If the price fails to break above 1.0580 and falls below 1.0545, it could retest lower support levels near 1.0515 or even 1.0500. Setup Details: Entry Price: Below 1.0540 (confirmation of breakdown). Stop-Loss: 1.0560 (above consolidation). Take-Profit Levels: TP1: 1.0515 (near-term support). TP2: 1.0500 (psychological level). Risk/Reward Ratio: ~1:2.
by napoleon182
Bullish Gold: Recent Signals Point to Upward Momentum** Bullish Gold: Recent Signals Point to Upward Momentum ** Gold has been displaying strong bullish tendencies lately, and our latest analysis suggests that the price may continue its upward trajectory toward the next resistance level. After carefully analyzing the charts across multiple timeframes, from 1-minute to 45-minute intervals, we’ve identified compelling signals that favor a continuation of this upward movement. **Key Observations** 1. **Technical Indicators:** Recent price action shows a series of higher lows and consistent testing of key resistance zones. This structure aligns with a bullish trend, signaling strong buying pressure in the market. 2. **Momentum Analysis:** Momentum indicators, such as the Relative Strength Index (RSI) and Moving Averages, confirm a positive trajectory. On smaller timeframes like 1-minute and 5-minute charts, gold has shown consistent breakouts during intraday trading, indicating sustained interest from buyers. 3. **Volume Support:** Volume spikes during upward moves suggest institutional activity, further supporting the bullish case. Price movements are backed by strong participation, which enhances the reliability of the trend. 4. **Resistance and Next Targets:** If gold maintains its current pace, the next key resistance level lies at . Breaking through this zone could open the door to higher price levels in the short term. **Fundamental Context** The recent strength in gold prices is supported by market uncertainty, with investors seeking safe-haven assets amidst global economic concerns. Additionally, a weaker USD or dovish signals from central banks can further fuel gold’s rally. **What’s Next?** We’ll continue to monitor the charts and provide updates as the situation evolves. The current bullish sentiment aligns with both technical and fundamental factors, suggesting that gold’s rally still has room to grow. However, traders should watch for any signs of reversal near key resistance levels and manage their risk accordingly. Stay tuned for more updates as we track this movement closely!
TVC:GOLDLong
by GlebalTrader
NZDUSD → False breakdown of a double bottom. But...FX:NZDUSD is forming a local reversal pattern on the background of the dollar correction. It is too early to talk about a change of trend, but we can get a correction with the purpose of retesting the liquidity zone On the daily timeframe earlier a false breakdown of the double bottom was made, the price was not let down and in a few days began to buy out on the background of news on inflation from the USA. Traders took the decline in inflation relatively positively and moved to profit-taking in the dollar, which gives the forex market a chance. For now, the focus is on the 0.59-0.5912 zone. If the bulls can keep their defenses above this zone, we may get a rise to 0.597 (towards the descending channel resistance) in the long run Resistance levels: 0.5912, 0.5972 Support levels: 0.588, 0.58166 But, we should not deny the downtrend. From any resistance the price can continue downward movement, as there are no preconditions that the market is ready to change the trend. Regards R. Linda!
Long
by RLinda
5