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The upward trend will continue, target: 2670-2680Gold affected by bearish PMI data, initially pulled back to the 2642 level before rebounding sharply to a high of 2656. It has since slightly retreated but remains in a consolidation phase overall. While gold's short-term bullish momentum has weakened somewhat, it is unlikely to establish a new downtrend in the near term. Recent pullbacks have consistently preserved the bullish structure, and during the rebound attempts yesterday and today, two long lower wicks have formed on the candlestick charts, signaling strong buying support below. Therefore, gold remains poised to break above the recent high of 2665 after this consolidation phase and extend its rally toward the 2670-2680 zone, or potentially even 2690. Following today’s trading strategy, I entered a long position on gold at 2640 and manually closed it around 2659 to secure profits. Although I missed the opportunity to go long near 2642 after the PMI-driven pullback, I observed the formation of a W-bottom pattern on the 5-minute candlestick chart. This prompted me to re-enter a long position around 2646, and, given gold's current consolidation phase, I promptly closed the position at 2652 to lock in profits. For upcoming trades, the candlestick chart shows an upward bias, and we will continue to prioritize long positions in short-term trading. However, the key support zone to watch has now shifted higher to the 2645-2635 range. Bros, have you followed me and made a profit by going long gold? There will still be opportunities to participate in the long gold trade later. 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
EUR/AUD looks ready to tap outFrom a purely technical perspective, EUR/AUD could look appealing to bears. Resistance was found at 1.68 before bearish range expansion and a potential bear flag followed. But I also feel like we have seen this movie before (even if it was upside down). In late November we saw a false break of the June and October lows before a bull-flag breakout occurred. we then saw another leg higher, bullish breakout and retest of the 200-SMA before its final leg higher. If the reverse is to play out, we could now be in for a bull-flag breakdown towards the 200-day SMA, bearish consolidation, then breakdown and retest of the 200-day SMA before its final leg lower. From a fundamental perspective, I believe markets have priced RBA cuts in too aggressively and the USD could be in for a pullback. And if Trump's policies really are less inflationary as feared, it could trigger a risk-on rally which could benefit an arguably oversold AUD over the euro. And that is why I am now hunting EUR/AUD shorts. MS
Short
by CityIndex
$NVDA #BullFlag Thru #Resistance Now #ReTesting (150Cs #Soon?!)I noted a bull flag on NASDAQ:TSLA and noticed NASDAQ:NVDA following the same style. This looks like a strong flagpole through what was previously ATH resistance down trend. Downtrend has now acted as support twice. Im hoping the 3rd time will be the charm ;) Looking for NASDAQ:NVDA 150Cs and NASDAQ:TSLA 550Cs on next YUGE green day ie (SPY 2%+) -Prophecies (Stay Patient) PS: Apologies if chart isnt as clean as others. I'm trying to incorporate emojis to symbolize what I see as critical points, which set up critical line/levels, which then set up technical pattern. This is the way...
NASDAQ:NVDALong
by Prophecies_R_Us
6
XRP SeekingPips reminds himself STICK TO THE PLAN, XRP LONG ONLY I would consider the following as a GOLD STAR LESSON TO BE SAVED. Yesterday created a great reminder opportunity that you must have a PLAN & RULES. Even SeekingPips is human and therefore sometimes will deviate from the plan. The GOLD SECRET is to realise the error and get back on track as soon as possible. I was very clear on the chart share on 01/01/2025 that I only wanted to accumulate XRP Here is the copy of that paragraph : "ℹ️ However whilst price remains above 2.10 USD I do not want to take the short side of XRP." By the next chart share the next day 02/01/25 it was clear to me where price was and that I was seeing a clear BULL FLAG on the DAILY CHART. ✅️ With that information I had a plan❕️✅️ ℹ️So what's the lesson you ask?❔️ ⭐️Well Seeking Pips didn't stick to the plan. Price was still well above 2.10 but shared a short chart idea. This is why a TRADE JOURNAL is a GREAT idea. In real time you may not see or notice any TRADING ERRORS but by having a journal it's in black and white and you can spot any problems early.✅️ ⚠️So what were the KEY POINTS from yesterday? 🟢 Based on the D1 timeframe chart there was no valid reason according to my PLAN to conditioner any short positions. 🟢 Even based on the intra day timeframes that I use my RED LINE on my chart share at 2.3268 was never traded below. 🟢 Too zoomed in to price on lower timeframes. Seeking Pips considered the intra day timeframes and price action over what the Daily and Weekly charts were indicating. 🟢 Quantity over quality, wanting to be active and share some content, even given the fact that the DAY, WEEK and EVEN YEAR had just started. 🟢 NOT GIVING the IDEA time to play out. Barely two hours earlier I had already decided that my bias was to the long side. There was no trigger to invalid that bias. ⭐️THE LESSON⭐️ Trading is not all about Lambos and penthouses. Yes that can be a final goal if you want it to be BUT to get to that point you really do have to iron out all of the ugly stuff first... If this post helps even one peron on their trading journey it has done it's job.👌 PLEASE LIKE AND SHARE THIS POST IF YOU FOUND IT USEFUL. 👍
COINBASE:XRPUSDEducation
by seekingpips
2
Expensify Inc. Stock Quote | Chart & Forecast SummaryKey Indicators On Trade Set Up In General 1. Push Set Up 2. Range Set up 3. Break & Retest Set Up Notes On Session # Expensify Inc. Stock Quote - Double Formation * 012345 | Wave Count Entry Bias | A+ Set Up)) * 5X Retracement Numbered | Subdivision 1 - Triple Formation * (Neckline) | Pattern Confirmation | Subdivision 2 * Uptrend Bias & Continuation Bias | Subdivision 3 * Daily Time Frame | Trend Settings Condition Active Sessions On Relevant Range & Elemented Probabilities; European Session(Upwards) - US-Session(Downwards) - Asian Session(Ranging) Conclusion | Trade Plan Execution & Risk Management On Demand; Overall Consensus | Buy
CAPITALCOM:EXFYLong
by TradePolitics
Ethereum - bearish divergence alert - Dec 19th, 2024** Trigger warning - the following post may cause skin irritation and involuntary expletives ** The entire market is bullish on Ethereum. All of social media is bullish on Ethereum. The Motley Fool is even bullish on Ethereum (Huge red flag!!) “Ethereum looks undervalued relative to its potential” source: www.fool.com ===================================================== The TA: Your only source of news should be the chart. The chart has a headline for you to read: “Strongest bearish divergence print since the 90% and 80% crashes of 2018 and 2021” Yes, the same specific settings used to track market pivots with divergence on Ethereum price action has printed once more. On the above 8 day chart price action prints negative divergence with multiple oscillators over an 80 day period. The bear flag forecasts price action to correct until $700. If you’re bullish on price action you have to reason why… why is this time different? (Trump said... yes, would never mislead that one) If you’re neutral on price action and considering a long entry, look left, is now that moment? If you’re bearish on price action, well then you’re in poor company and public enemy number one. Welcome to my world! Is it possible price action continues to rise? Sure! We’re in a bull market, din’t you get the memo? Is it probable? No. Ww
INDEX:ETHUSDShort
by without_worries
18
ICP/USDT Bull Flag Breakout is Loading....The chart highlights a classic Bull Flag pattern, which signifies a potential continuation of the upward trend. At present, the price is consolidating within the confines of the flag, indicating a phase of market indecision as it builds momentum for a breakout. Key Observations 1. The Bull Flag structure remains well-defined, with the price oscillating inside a descending channel. 2. Support is evident along the lower boundary around the $11.5 mark, offering a logical entry point for buyers. 3. A decisive breakout above the upper boundary of the flag would confirm the bullish outlook and could trigger a strong upward surge. 4. The projected target for this move lies above $14, aligning with significant resistance levels observed previously. Strategic Implications Patience and vigilance are crucial. Focus on identifying a breakout above the upper boundary, ideally accompanied by increased trading volume to affirm the move. In the event of a retest near the $11-$11.5 support zone, it could provide a favorable opportunity for initiating long positions. Be mindful of potential false breakouts and use risk management strategies, such as setting appropriate stop-loss levels, to protect your capital.
Long
by wsaetos
2
SQ | Why Wallstreet is Bullish | LONGBlock, Inc. engages in creating ecosystems for distinct customer audiences. It operates through the Square and Cash App segments. The Square segment provides businesses the ability to accept card payments. The Cash App segment offers an ecosystem of financial products and services to help consumers manage their money. The company was founded by Jack Patrick Dorsey and James Morgan McKelvey in February 2009 and is headquartered in Oakland, CA.
NYSE:XYZLong
by DivergenceSeeker
$QURE Is A Hight Tight Flag - Here's How I Plan To Trade ItOf course I have no idea how the price of NASDAQ:QURE is going to open Monday morning, but if it opens within the body of Friday's candle or a little lower, I'll buy it two times as it breaks above 18.13 and then 18.50. I'll set my stop to the low of the day and see what develops. Having moved up 150% in just 14 days it's an awfully powerful stock and deserves my attention here as it flags out with an acceptable 20% pullback. I don't know what my position size is going to be on it yet. I have to wait and see where the low of the day is first and then decide how much capital to allocate. If risk is tight enough I'll get to full size buying one half above 18.13 and the second above 18.50. I'll likely have to use limit buys here because it could move very quickly on me. Doing so means I risk not getting filled but it also means I don't end up taking on an uncomfortable amount of risk either. Of course I drew my yellow line that I hope to see Monday off the chart and on the moon! Hopefully if that happens I'm well positioned. We will see what Monday brings, but this is my number one priority at the opening bell.
NASDAQ:QURELong
by CardinalRuleTrader
5
ARB breaking up from a bullflag that can take it above necklineArbitrum looks like it has probably founded the lowest depth of the right shoulder of it’s inverse head and shoulders here as it has now broken upward from this purple bullflag here and is now back above the 1 day 50ma(in orange). The breakout target of this flag will take price action above the neckline of the inverse head and shoulders pattern if it hit its full breakout target. We can also see that the bearish h&s that we were under the neckline of for several daily candle closes never progressed into getting validated as is often the case with bearish patterns in this phase of the bull market. I suppose there’s still a chance we could head bck under that light colored tannish neckline again but probability favor the upside at this point. *not financial advice*
COINBASE:ARBUSD
by DrDovetail