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Bearish Outlook on EURUSD ContinuesHi Traders! EURUSD continues its bearish outlook as the market is now in a descending channel. Here are the details: After the double top on the higher timeframe idea (see link below), the market looks to have run out of steam to break the resistance level, which provides additional opportunities for short entries to target the support level at 1.08860. We are now looking for a break and a close below the 20 EMA for a confirmation signal. Preferred Direction: Sell Entry Level: 1.09612 Stop Level: 1.09986 Target Level: 1.08860 Technical Indicators: 20 EMA Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX
8
SPY Bull Run Eyes $492 Post-FOMC: Key Indicators & Gaps AnalyzedSPY's Bullish Surge: Decoding Market Indicators and Gaps The SPY is riding a bullish wave, scaling new heights with remarkable momentum. On my chart, three proprietary indicators are at play, offering unique insights into the market's pulse. Particularly noteworthy is the indicator that measures cycle direction strength across time frames. Currently, it signals substantial bullish force from the higher period cycles – a force that remains unyielded. Post-FOMC statements have set the upper resistance for SPY around $492, and that's my line in the sand for considering any short positions. We're not there yet, and the strength indicators suggest the climb isn't over. Thursday's trading painted a complex picture: an impulse wave downwards, which acts as a correction to the previous day's upward surge, left a notable gap at 472.30. The odds are in favor of this gap being filled before the market rings in the new day. Yet, from the vantage point of the shorter cycle, the target gap stands higher at 462.88. When it comes to trading these gaps, the rule of thumb is clear: the market must tread in the gap's direction for it to be closed. As traders, we watch these patterns closely, for they often spell the difference between an ordinary trade and a strategic win. Stay tuned, follow for updates, and trade with the confidence of informed insights.
AMEX:SPYLong
by Saver0
AUDUSD Breakout Opportunity Hi Traders! AUDUSD is in a descending triangle, and there is a possibility of a break below the trendline support. Here are the details: The market is trending down with swings of lower highs and lower lows following the break and close below the 20 EMA. Our idea is to sell rallies, looking for a break below the support trendline and exit at 0.64924. Preferred Direction: Sell Entry Level: 0.65614 Stop Level: 0.65959 Target Level: 0.64924 Technical Indicators: 20 EMA Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX
2
Shipping is a strong indicator!Shipping can be used a leading indicator to gauge where the market as a whole is going. Just like the XHB the home building chart, I don't trade this. I only use it a guide to get a into the drivers of the market. If shipping is up, then the markets will follow, is building up, so too will the market. As we can see, shipping made a low last year in September and has made higher highs since then. we now just wait and watch the indicators for bullish crosses that seem to be building upward. A Stochastic cross above the 20 on this 3 week chart is what we are looking for and is considered bullish. Same with the MacD, we are looking for the beige line to cross the purple line. Once these happen on the three week we will then change to the monthly and look for the same. The moving average I'm using is the CM_Ultimate_MA . Price action moving above this line and turning it green is a very positive move as well. Once again to be clear, we have an up trend in the shipping, if it continues then the recession is likely over and the markets will move along with it. It will be even more likely on the monthly confirmation of price action and indicators. I will link the XHB home builders chart I did last year down below. Best regards in 23 WeAreSat0shi
SPARKS:SHIPPINGLong
by WeAreSat0shi
7
GBPUSD Weakness ContinuesHi Traders! GBPUSD continues its bearish outlook, and further downside momentum looks very likely. Here are the details: The market is trending down, with longer swings consisting of lower highs and lower lows. The previous support level of 1.26034 has been broken, and the market may go back to below the 1.25000 level. Preferred Direction: Sell Entry Level: 1.25772 Stop Level: 1.26213 Target Level: 1.24890 Technical Indicators: 20 EMA Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX
$SPY Bullish Breakout: Cup & Handle Formation on Weekly Chart The AMEX:SPY is exhibiting a compelling technical formation on its weekly chart. A classic cup and handle pattern has emerged, signalling a potential bullish breakout. The cup and handle pattern observed over the past several months on the AMEX:SPY not only signals a bullish continuation following a period of consolidation but also aligns with the current Stochastic Oscillator readings below 70, emphasizing the potential for upward movement without immediate overextension. This formation, marked by a stabilizing rounding bottom and a subsequent minor pullback, reflects a growing bullish momentum, further reinforced by the Stochastic Oscillator's position, which adds confidence in the face of the ongoing market volatility. Based on this analysis, a tactical trade can be structured as follows: Entry Point: Consider entering the trade at the current level, as the price breaks out of the handle. Stop Loss: To manage risk effectively, set a stop loss at the low of the handle. This placement protects against unforeseen reversals in the pattern. Take Profit: The take profit target is set at the high of the cup. This offers an attractive near 2:1 profit-to-loss ratio, aligning with sound risk-reward principles. Risk Management: As always, traders should align this trade with their individual risk tolerance and portfolio strategy. This analysis presents a bullish case for AMEX:SPY , supported by both pattern recognition and oscillator readings. While the setup is promising, traders are reminded to conduct their analysis and consider market dynamics. Disclaimer: This idea is for educational purposes only and should not be taken as financial advice. Trading involves risks, and it is crucial to do your due diligence before making any investment decisions.
AMEX:SPYLong
by Scatman_Jeff
2
15 Essential Topics to Transform into a Pro Trader 📈💹 Embarking on a journey to become a professional forex trader requires a solid understanding of various key topics. Whether you're a beginner or looking to enhance your trading skills, mastering these 15 forex topics will set you on the path to success. Let's dive into the essentials! 💪 1. Understanding Forex Basics 🌐 - Learn the basics of currency pairs, exchange rates, and market participants. 2. Fundamental Analysis 📰 - Explore economic indicators and events affecting currency values. 3. Technical Analysis 📊 - Study charts, patterns, and indicators to make informed trading decisions. 4. Risk Management Strategies 🛡 - Implement effective risk management to protect your capital. 5. Trading Psychology 🧠 - Master emotions and discipline for consistent trading success. 6. Different Trading Styles 🔄 - Explore day trading, swing trading, and position trading. 7. Leverage and Margin 📊 - Understand the risks and benefits of trading with leverage. 8. Market Order vs. Limit Order ⏩ - Differentiate between instant execution and pending orders. 9. Interest Rates and Carry Trade 📈 - Learn how interest rates impact currency values and the carry trade strategy. 10. Correlation in Forex Markets 🔄 - Understand how currency pairs move in relation to each other. 11. Economic Calendar Awareness 📆 - Stay updated on economic events and their potential impact. 12. Backtesting and Demo Trading 📊 - Test strategies in a risk-free environment before trading live. 13. Diversification Strategies 🌐 - Spread risk by trading various currency pairs and assets. 14. Market Sentiment Analysis 📈📉 - Gauge the mood of the market to anticipate price movements. 15. Continuous Learning and Adaptation 📚 - Stay updated on market trends, technologies, and regulations. Becoming a pro trader involves continuous learning and a commitment to mastering these essential forex topics. With dedication and practice, you can navigate the complexities of the forex market and trade with confidence. Happy trading! 🚀💰 Let me know, traders, what do you want to learn in the next educational post?
OANDA:XAUUSDEducation
by TopTradingSignals
3
Crude Oil Correction - Bearish Scenario (4H)Brent Crude Oil Forecast 🛢️ TVC:UKOIL Recent sessions saw a surge in Brent crude futures, hitting the top of a descending channel and undergoing huge correction currently. This paves the way for potential fall from 82.00 to 80 then 79. The bearish trend remains strong as price got rejected from the 100-day moving average (4H timeframe). A break above 83 could signal bullish move. Note: Keep an eye on unexpected movements due to Fed's meeting minutes and ongoing conflict between Palestine and Israel. Support lines: 80.00 Resistance lines: 83.00 Comment down below your thoughts about my analysis, Thank you!
TVC:UKOILShort
by InvestScale
2
📉 Nifty 50 Index: Short Opportunity on the HorizonGreetings, fellow traders! Today, our focus is on the NSE:NIFTY index. Here's the breakdown: 📈 Upward Movement: The index has been on an upward trajectory, recently approaching the 200-day moving average. 🚨 Near Resistance: However, it's currently near a significant resistance level, suggesting potential selling pressure. 💡 Short Selling Opportunity: I'm eyeing a short opportunity in the range of 19,500 to 19,800 for this index. 📉 Option Buying Strategy: For option buyers, consider 19,800PE or 20,000PE strike prices to capitalize on a potential downward move. 📆 Timing: This bearish outlook is anticipated to unfold in the coming days. 📌 Important Note: Trading involves risks. Make sure to conduct your analysis and manage your risk accordingly. 🤔 Your Strategy: What's your take on the Nifty 50 index? Are you aligning with this short opportunity, or do you have a different perspective? Share your insights! 👋 Until Next Time: Thank you for tuning in. Goodbye for now, and see you in the next post. Best regards, Alpha Trading Station
NSE:NIFTYShort
by AlphaTradingStation
DXY, VIX Down = SPY, STONKS UP. Blowoff Top Continues!Traders, It has been an amazingly bullish last couple of weeks both in the stonk world and in cryptos. In this video I cover what has occurred from a technical basis and what I think the charts are now showing us. In short, stonks look to continue their upward trends but crypto is less certain. I also wanted to explain why I went short on a few trades. What was I thinking then and what I am thinking now? Was I too early on my entries or just plain wrong? Stewdamus
INDEX:BTCUSD
by stewdamus
📈 AEGISCHEM: A Promising Investment OpportunityHello, traders! Today, we're focusing on NSE:AEGISCHEM . Here's what's happening: 📈 Steady Upside Movement: AEGISCHEM is on a consistent upward trajectory, forming higher highs and showing signs of strength. 🔝 Breaking Previous Highs: It recently broke its previous high, which is a significant development. 🔍 Retest Opportunity: Currently, it's retracing and coming down to retest the support from the parallel channel, and I've marked a potential long position on the chart for your reference. 🚫 Not Guaranteed: However, keep in mind that trading is about high-probability entries, not guarantees. While this opportunity has great potential, always perform your due diligence. 🕰️ Investment Perspective: This isn't just a short-term trading play; it's an opportunity with investment potential. Take a closer look and consider your investment strategy. 📌 Important Note: This isn't a definitive investment recommendation. Make informed decisions and manage your risk appropriately. 🤔 Your Strategy: What's your take on AEGISCHEM? Are you considering it for your investment portfolio? Share your insights with us! 🚀 Stay Informed: Keep following for more trading and investment insights. Best regards, Alpha Trading Station 🌟
ALong
by AlphaTradingStation
BluetonaFX - EURUSD Pre NFP ReportHi Traders! Ahead of the NFP announcement later, EURUSD is trading near its weekly high in anticipation of possible weak jobs data coming out of the US.   Price Action 📊 The market's price action is currently bearish, largely due to the double-top pattern. The market recently had price rejections at the weekly high of 1.06750. That being said, we are currently still above the 20 EMA and must be wary of this. Fundamental Analysis 📰 The US recently posted weaker than expected PMI figures and ADP Non-Farm employment change, and with the Fed not committing to further interest rate hikes, traders may back to being nervous about the US dollar again if the NFP number is weak. Support 📉 1.06149: 20 EMA 1.05166: WEEKLY LOW Resistance 📈 1.06750: WEEKLY HIGH Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
by BluetonaFX
Learn the 3 TYPES of MARKET ANALYSIS In the today's post, we will discuss 3 types of analysis of a financial market. 🛠1 - Technical Analysis Technical analysis focuses on price action, key levels, technical indicators and technical tools for the assessment of a market sentiment. Pure technician thoroughly believes that the price chart reflects all the news, all the actions of big and small players. With a proper application of technical strategies, technical analysts make predictions and identify trading opportunities. In the example above, the trader applies price action patterns, candlestick analysis, key levels and 2 technical indicators to make a prediction that the market will drop to a key horizontal support from a solid horizontal resistance. 📰2 - Fundamental Analysis Fundamental analysts assess the key factors and related data that drive the value of an asset. These factors are diverse: it can be geopolitical events, macro and micro economic news, financial statements, etc. Fundamental traders usually make trading decision and forecasts, relying on fundamental data alone and completely neglecting a chart analysis. Price action on Gold on a daily time frame could be easily predicted, applying a fundamental analysis. A bearish trend was driven by FED Interest Rates tightening program, while a strong bullish rally initiated after escalation of Israeli-Palestinian conflict. 📊🔬 3 - Combination of Technical and Fundamental Analysis Such traders combine the principles of both Technical and Fundamental approaches. When they are looking for trading opportunities, they analyze the price chart and make predictions accordingly. Then, they analyze the current related fundamentals and compare the technical and fundamental biases. If the outlooks match, one opens a trading position. In the example above, Gold reached a solid horizontal daily support. Testing the underlined structure, the price formed a falling wedge pattern and a double bottom, breaking both a horizontal neckline and a resistance of the wedge. These were 2 significant bullish technical confirmation. At the same time, the escalation of Israeli-Palestinian conflict left a very bullish fundamental confirmation. It is an endless debate which method is better. Each has its own pros and cons. I strongly believe that one can make money mastering any of those. Just choose the method that you prefer, study it, practice and one day you will make it. ❤️Please, support my work with like, thank you!❤️
OANDA:XAUUSDEducation
by VasilyTrader
4
BluetonaFX - EURUSD Under Serious PressureHi Traders! Today is a big day for the EURUSD with the ECB's interest rate decision followed by their press conference. The pair is under some pressure and is approaching its yearly low at 1.04485, and we could see that being broken depending on the ECB's decision today.   Price Action 📊 The market recently broke its long-term ascending price channel, and momentum looks to be on the bearish side. The market is also below the 20 EMA. Fundamental Analysis 📰 The Eurozone has shown strong Flash PMI data recently, so traders will be looking for positive statements from the ECB regarding the Eurozone's inflation issues. Support 📉 1.05090: PREVIOUS WEEK'S LOW 1.04485: YEARLY LOW Resistance 📈 1.06946: CURRENT WEEK'S HIGH Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX
BluetonaFX - USDJPY Cannot Break 150Hi Traders! USDJPY is struggling to break the psychological 150 level, and there might be a possibility of the US dollar slowing down due to strong data coming out of Europe.   Price Action 📊 The market has reached the psychological level of 150 and has been trying to break the level for the past three weeks without any success. The market may have run out of buyers and may need new waves of buyers to enter the market, which may provide short-term selling opportunities. Fundamental Analysis 📰 The US dollar continues to trade strongly amid rising yields and escalating tensions in the Middle East, after US Federal Reserve Chair Jerome Powell stopped short of hinting that US interest rates have peaked. Strong data has started to come out of Europe with better-than-expected Flash PMIs across the EU and the UK.   Support 📉 145.073: PREVIOUS RANGE ZONE RESISTANCE Resistance 📈 150.000: PSYCHOLOGICAL LEVEL 151.946: APEX LEVEL Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX
6
BluetonaFX - EURAUD Falling Wedge LONG IdeaHi Traders! There is a falling wedge pattern on EURAUD, which signals a possible reversal of the bearish trend we have seen over the past couple of months. Price Action 📊 An aggressive price rejection candle followed by a momentum swing suggests that bulls are currently in control of the market. We are looking for a further bullish momentum break above the resistance trendline. Fundamental Analysis 📰 Australia left their interest rates unchanged, and the statement from the RBA left traders unconfident about Australia's economic outlook. Support 📉 1.63946: PREVIOUS DAY'S LOW Resistance 📈 1.66430:RESISTANCE TRENDLINE Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Long
by BluetonaFX
3
Navigating Market Turbulence: Unveiling the Bearish Flag Pattern In the world of technical analysis, patterns often provide valuable insights into potential market movements. One such pattern, the bearish flag, is a vital tool for traders seeking to identify and capitalize on bearish trends. In this comprehensive guide, we'll explore the bearish flag pattern, uncovering its characteristics, formation, and implications. With real-world examples, you'll gain the knowledge to spot this pattern and make informed trading decisions in bearish market conditions. Demystifying the Bearish Flag Pattern What is a Bearish Flag Pattern? 🚩 The bearish flag pattern is a continuation pattern that occurs during a downtrend. It resembles a flag on a flagpole, hence its name. This pattern suggests a brief consolidation or pause in the downtrend before the price resumes its downward trajectory. Key Characteristics of a Bearish Flag 1. Prior Downtrend: The bearish flag pattern forms after a notable downtrend, indicating bearish sentiment in the market. 2. Flagpole: The flagpole is the initial sharp decline in price that precedes the flag's formation. It represents the strong selling pressure. 3. Flag Formation: Following the flagpole, there is a period of consolidation where the price moves in a horizontal or slightly upward range. This forms the flag itself and indicates a temporary pause in the downtrend. 4. Volume: Ideally, the volume should decline during the flag formation, reflecting a decrease in trading activity. 5. Breakout: The bearish flag is confirmed when the price breaks below the lower boundary of the flag, resuming the downtrend. Bearish Flag in a Stock Bearish Flag in a Forex Pair The bearish flag pattern is a valuable tool for traders seeking to navigate bearish market conditions. By understanding its characteristics and monitoring its formation, traders can identify potential opportunities to profit from the resumption of a downtrend. However, like all technical patterns, it should be used in conjunction with other forms of analysis to make well-informed trading decisions. The bearish flag pattern is a powerful addition to any trader's toolkit for analyzing and interpreting market dynamics. 📉🚩 Please, support my work with like and comment! Love you, my dear followers!👩‍💻🌸
Education
by AnabelSignals
5
Deciphering DXY: The Dollar Index Explained 💵📊 The world of forex and global finance is filled with acronyms and indices that influence markets daily. One of the most critical and widely tracked indices is DXY, which represents the U.S. Dollar Index. In this comprehensive guide, we'll dive into what DXY is, why it matters to traders and investors, and how it can impact your financial decisions. By the end, you'll have a clear understanding of this essential indicator and its role in the financial world. Unveiling DXY: The Dollar Index What is DXY? DXY, often referred to simply as the Dollar Index, is a measure of the value of the United States dollar relative to a basket of foreign currencies. It provides a weighted average of the dollar's exchange rates against some of the world's most traded currencies. Composition of DXY The Dollar Index is composed of six major world currencies, each assigned a specific weight: 1. Euro (EUR) - 57.6% 2. Japanese Yen (JPY) - 13.6% 3. British Pound (GBP) - 11.9% 4. Canadian Dollar (CAD) - 9.1% 5. Swedish Krona (SEK) - 4.2% 6. Swiss Franc (CHF) - 3.6% Why DXY Matters DXY is a crucial indicator for several reasons: 1. Global Benchmark: DXY is widely considered the primary indicator for measuring the value of the U.S. dollar globally. It serves as a benchmark for comparing the dollar's strength or weakness against other major currencies. 2. Currency Movements: Traders and investors use DXY to gauge the dollar's performance and predict potential currency movements. A rising DXY indicates a stronger dollar, while a falling index suggests a weaker dollar. 3. Influence on Markets: Changes in DXY can have a significant impact on various markets, including forex, commodities, and equities. For instance, a strengthening dollar can lead to lower commodity prices, affecting commodity-dependent economies. 4. Policy Implications: Central banks and governments closely monitor DXY to inform their monetary and fiscal policies. A rising DXY may influence a central bank to consider policies to counteract a strong dollar's effects on exports. DXY's Impact on Forex DXY, the Dollar Index, is a vital tool in the financial world, providing insights into the relative strength of the U.S. dollar. Its composition of major world currencies and its widespread use make it a key indicator for traders, investors, and policymakers alike. By understanding DXY's significance and monitoring its movements, you can make more informed financial decisions and navigate the complexities of the global markets. 💵📊 What do you want to learn in the next post?
COINBASE:BTCUSDEducation
by UnitedSignals
12
Candlestick Patterns Unveiled: Your Guide to 6 Key Signals🕯📈📉 Candlestick patterns are a trader's secret language, revealing potential market movements and trends. Among the multitude of candlestick formations, six key patterns stand out for their significance in technical analysis. In this comprehensive guide, we'll explore these patterns, providing real-world examples to help you decipher their bullish and bearish implications. With this knowledge, you'll be better equipped to make informed trading decisions in the dynamic world of finance. Exploring 6 Key Candlestick Patterns Candlestick Pattern 1: Bullish Engulfing 🐂🕯 The Bullish Engulfing pattern is a potent bullish signal that appears after a downtrend. It involves a small bearish candle followed by a larger bullish candle that completely engulfs the previous one. Candlestick Pattern 2: Bearish Engulfing 🐻🕯 The Bearish Engulfing pattern is its bearish counterpart, signaling a potential reversal at the end of an uptrend. It consists of a small bullish candle followed by a larger bearish candle that engulfs the previous one. Candlestick Pattern 3: Bull Flag 🐂🚩 The Bull Flag is a continuation pattern that often appears in uptrends. It consists of a sharp upward price movement (flagpole) followed by a period of consolidation (flag). Candlestick Pattern 4: Bear Flag 🐻🚩 The Bear Flag is the bearish counterpart of the Bull Flag. It appears in downtrends and consists of a sharp downward price movement (flagpole) followed by consolidation (flag). Candlestick Pattern 5: Morning Star 🌄🕯 The Morning Star is a bullish reversal pattern that appears after a downtrend. It comprises three candles: a large bearish candle, a small indecisive candle (often a Doji), and a large bullish candle. Candlestick Pattern 6: Evening Star 🌇🕯 The Evening Star is the bearish counterpart of the Morning Star and signals a potential reversal at the end of an uptrend. It also consists of three candles: a large bullish candle, a small indecisive candle, and a large bearish candle. These six key candlestick patterns are essential tools in a trader's arsenal, providing insights into potential reversals and continuations. However, remember that successful trading requires considering other factors like trend analysis, volume, and market context. By mastering these patterns and applying them judiciously, you can enhance your trading skills and make more informed decisions in the dynamic world of finance. 🕯📈📉 Do you like this post? Do you want more articles like that?
Education
by ProSignalsFx
8
BluetonaFX - USDJPY Price Channel Breakout SHORT IdeaHi Traders! USDJPY looks to have exhausted near the psychological 150.00 level, and there is a possibility of a large pullback to the long-term bullish trend we have had over the past few months. Price Action 📊 There has been a momentum break below the ascending price channel and the 20 EMA. We are looking for further momentum to take the market further below. Fundamental Analysis 📰 Weaker than expected USD GDP figures have slowed down the US dollar's strong momentum. Support 📉 148.460: PREVIOUS SWING HIGH Resistance 📈 149.506: DAILY HIGH Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX
1
Gold for the next week 18-Sep-2023 Till Closed ManuallyI initially planned to share this on Sunday evening, but given that I'm including my personal trading strategy, I've decided to release it on Saturday instead. This way, someone might find value in my approach and have ample time to understand and implement it in their trading for the upcoming week Bullish Scenario Institutional Bias: If institutions remain aggressively bullish on Monday, expect minimal retracement to demand zones. Daily Supply Zone: A retracement to the demand zone may occur to trap sellers before resuming the bullish trend. Bull Run Extension: The market may stall within the daily supply zone before continuing its upward trajectory. Break Above 1953: A break above this level could signal a long-term bullish run, potentially setting new lifetime highs. Bearish Scenario Institutional Shift: If institutions shift from buying to selling, they may push the market to the daily supply zone to trap buyers before a sharp decline. Liquidity Trap: The market may oscillate between supply and demand zones to generate liquidity before crashing. Short-Term Outlook: Given Friday's bullish narrative, a bearish run seems less likely in the immediate term. High Time Frame (HTF) Bias: The market could revert to a bearish trend as the HTF bias remains bearish. My personal Trading Strategy for Gold Preparation: Be at your trading station one hour before the London Open. Daily Time Frame (TF): Mark trendlines to determine overall market bias. 4hr TF: Identify any break of structures. 1hr TF: Mark unmitigated supply and demand zones. 15min TF: Wait for the price to reach your marked zones or Points of Interest (POI). Entry Criteria: Look for a clean Break of Structure (BOS) on a lower time frame (preferably 5 minutes). Momentum and Volume: Ensure the BOS has sufficient momentum and volume. Entry Point: Enter after the BOS candle closes. Stop Loss (SL): Use a fixed pip SL or place it above the previous swing high. Take Profit (TP): Subjective to your trading style. Risk Management: Limit SL to 1% of your equity. Pip and Lot Calculation: Understand pip values for different trading instruments. Profit Targets: Maintain realistic daily, weekly, and monthly targets. Weekly Target: Aim for a 5% increase in equity. Daily Target: Once reached, reduce your market exposure. Loss Management: If a trade goes south, take a step back and analyze. Important Notes These are personal insights and subject to market conditions. Market moves may take from one day to several weeks to materialize. Global economic uncertainty could increase gold's appeal as a safe-haven asset. Personal Insights Emotional detachment and mechanical trading have improved my performance. Always align your trades with the market's overall direction. Counter-trend strategies are generally riskier unless supported by divergences.
OANDA:XAUUSD
by BinSaeed83
4
BluetonaFX - GBPAUD Triangle Break SHORT IdeaHi Traders! There is a triangle formation on GBPAUD, and we have possibility of a breakout to the downside. Price Action 📊 The market has had lower highs and lower lows since breaking below the 20 EMA, creating a symmetrical triangle pattern on the chart. We are looking for further bearish momentum to break and close the trendline support line. Fundamental Analysis 📰 The market's outlook on GBP is currently negative due to weak economic data recently released. The outlook on the GBP looks very negative at the moment, and the demand for the currency is very low.   Support 📉 1.90556: WEEKLY LOW Resistance 📈 1.92405: PREVIOUS DAY'S HIGH Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX
3
BluetonaFX - Forex Weekly RecapHi Traders! Forex Weekly Recap for 18–22 September, 2023: Fundamentals The Reserve Bank of Australia (RBA) released the Meeting Minutes of its September meeting. Key notes were: They considered raising rates by 25 basis points or holding rates at the September meeting. The economy still appears to be on a narrow path by which inflation returns to target and employment grows. They are concerned about productivity growth not picking up as anticipated and service inflation remaining an issue. The European Central Bank’s (ECB) Villeroy hinted that the ECB has currently finished hiking; other key mentions from him were: The ECB will maintain interest rates at 4% for a sufficiently long time. The current ECB rates are at a good level; it is better to be patient now. Once inflation is back to around 2%, rates can start to fall again. The Bank of Canada released the minutes of its September meeting. Key notes were: The lack of improvement in underlying inflation is a major worry. They anticipate that rising oil and gasoline prices will push inflation up in the coming months. The balance between economic supply and demand will play a pivotal role in determining future core and total inflation. The Federal Reserve kept interest rates unchanged in the range of 5.25% to 5.50%, as expected. At the following press conference, Fed Chair Powell spoke, and key notes from him were: Growth in real GDP has come in above expectations. Labour demand still exceeds supply. Expects labour market rebalancing to continue, easing upward pressure on inflation. Inflation remains well above their long-term goal of 2%. Getting inflation down to the 2% target still has a long way to go. The Fed is prepared to raise rates further if appropriate. The Swiss National Bank (SNB) left interest rates unchanged at 1.75%, which came as a surprise as the market expected a 25 basis point hike to 2%. The Bank of England (BoE) left interest rates unchanged at 5.25%, which also came as a surprise as the market expected a 25 basis point hike to 5.50%. The bank vote also came as a surprise, as the bank vote was 4-5 vs. 8-1 expected (Bailey, Broadbent, Dhingra, Pill, and Ramsden voted to hold). Key Data New Zealand Services PMI came in worse at 47.1 vs. 48.0 prior. The US Housing Starts data came in worse, while Building Permits came in better. Housing Starts came in worse at 1.238M vs. 1.440M expected and 1.447M prior (revised from 1.452M). Building permits came in better at 1.543M vs 1.443M expected and 1.442M prior. The UK CPI came in worse across the board: CPI Y/Y came in worse at 6.7% vs. 7.0% expected and 6.8% prior. CPI M/M came in worse at 0.3% vs. 0.7% expected and -0.4% prior. Core CPI Y/Y came in worse at 6.2% vs. 6.8% expected and 6.9% prior. Core CPI M/M came in worse at 0.1% vs. 0.6% expected and 0.3% prior. The New Zealand Q2 GDP came in better across the board: GDP Q2 Y/Y came in better at 1.8% vs. 1.2% expected and 2.2% prior. GDP Q2 Q/Q came in better at 0.9% vs. 0.5% expected and 0% prior (revised from 0.1%). The US jobless claims came in better across the board: Initial claims came in better at 201K vs. 225K expected and 221K prior (revised from 220K). Continuing claims came in better at 1662K vs. 1695K expected and 1683K prior (revised from 1688K). The Australian Manufacturing PMI came in worse; however, the Services PMI came in better. Manufacturing PMI came in worse at 48.2 vs. 49.6 prior. Services PMI came in better at 50.5 vs. 47.8 prior. The Japanese CPI came in mixed across the board: Japan CPI Y/Y came in worse at 3.2% vs. 3.3% prior. Japan Core CPI Y/Y came in better at 3.1% vs. 3.0% expected and 3.1% prior. The UK August retail sales came in worse across the board: Retail sales Y/Y came in worse at -1.4% vs. -1.2% expected and -3.1% prior (revised from -3.2%). Retail Sales M/M came in worse at 0.4% vs. 0.5% and -1.1% prior (revised from -1.2%). German PMIs came in better across the board: Manufacturing PMI came in better at 39.8 vs. 39.5 expected and 39.1 prior. Services PMI came in better at 49.8 vs. 47.2 expected and 47.3 prior. The Eurozone Manufacturing PMI came in mixed across the board: Manufacturing PMI came in worse at 43.4 vs. 44.0 expected and 43.5 prior. Services PMI came in better at 48.4 vs. 47.7 expected and 47.9 prior. The UK Services PMI came in mixed across the board: Manufacturing PMI came in better at 44.2 vs. 43.0 expected and 43.0 prior. Services PMI came in worse at 47.2 vs. 49.2 expected and 49.5 prior. Technicals A mixed week for the forex majors, a bad week for GBP, especially with another week of worse-than-expected data leading to more weakening for the currency. AUDUSD 1W Chart AUDUSD held strong above the support level at the yearlow low and is trading comfortably above the 0.64000 area. The market briefly went above the 0.65000 area, which has not been seen since the end of August. USDJPY 1W Chart USDJPY is quickly approaching 150. The market is now trading just above the 148 level. The 150-level line lines up perfectly with the top of the ascending channel. EURUSD 1W Chart EURUSD is still continuing to head downwards after the support break of the rising wedge. A doji candle has formed on the 1W, which signals indecision, so we must be wary of this. GBPUSD 1W Chart GBPUSD is continuing its bearish momentum after the wedge support break. The next support area is around the 1.22000 level. The key focus for the upcoming trading week will be: Monday: German IFO. Tuesday: US Consumer Confidence Wednesday: Bank of Japan Meeting Minutes, Australia Monthly CPI, US Durable Goods Orders Thursday: Australia Retail Sales, US Q2 Final GDP, US Jobless Claims Friday: Japan Tokyo CPI, Japan Unemployment Rate, Japan Retail Sales, UK Q2 Final GDP, Eurozone CPI, Canada GDP, US Core PCE We will be back with another Forex Weekly Recap report next week. Best of luck for the upcoming trading week. Trade safely and responsibly. BluetonaFX
by BluetonaFX
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