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Charts Show Market Expects Fed to Pause but Big Resistance AheadTraders, Over 90% of the market is currently pricing in a FED rate pause tomorrow, but beware, the market often moves towards the point of maximum pain. My charts are showing we are at a critical point of resistance as I type this post. The bulls are going to have to conquer 4,370 and confirm it on the daily to convince me that the they are not out of steam just yet. From my perspective and the way I am reading this chart, is that the market may be in for a bit of a surprise pullback here. The blow-off top that I predicted well over a year ago is still currently underway and, IMO, will continue. But the market never goes to any future price point in a straight line. We are due for a pullback. I am not saying this will occur. I am only suggesting that a bit of caution is still very much warranted for the remainder of this week. Here's a look at a schedule of significant events that have or will yet occur and may cause volatility: Tuesday: • US CPI Data • Hinman Docs Become Public • SEC's Coinbase Rulemaking Response • Binance US Hearing Wednesday: • US PPI Data • FOMC Meeting Thursday: • US Jobless Claims • US Retail Sales Data Take care, Stew
U
by stewdamus
5
Exploring Leverage in Gold and Forex Trading 💰 Leverage is an essential tool in trading gold and forex. It enables traders to control larger positions with minimum initial capital. However, it also carries a high degree of risk as one can experience significant losses if the market moves against them. Here are some things to consider about leverage in trading gold and forex: • Leverage is the ratio of the amount one can borrow and the amount of capital invested. For instance, if a trader chooses a 50:1 leverage, then they can trade up to 50 times more than their initial capital. • While leverage allows traders to profit immensely from small market moves, it also magnifies losses if the market goes in the opposite direction. • Even experienced traders can fall prey to leverage's pitfalls, so it's crucial to understand the risks and manage them effectively. • Traders must calculate their risk-reward ratio before initiating a trade that involves leverage to help minimize losses and improve returns. • Stop-loss orders can help traders to manage their risk in case of unexpected market movements. • It is essential to have a solid trading plan that includes entry and exit strategies, trading goals, and risk management strategies. • Traders should choose a broker that offers favorable margin requirements and instant trade execution. In conclusion, leverage can be a useful tool in trading gold and forex, but it is not suitable for everyone. Traders must carefully evaluate their risk tolerance and have a well-defined trading plan before employing leverage. Please, like this post and subscribe to our tradingview page!👍
BITSTAMP:BTCUSDEducation
by EliteTradingSignals
4
Potential for a key monthly reversal on GoldGold needs to go back on to your radar, not only has the market halted at the major resistance 2070/91 (2022 high, top of the 12-year up channel AND Fib extension) BUT it is threatening to chart a key monthly reversal. Should we see a monthly CLOSE below last month's low of 1949 this will be a key month reversal. For a likely top, these happen when a market trades higher than the previous months high BUT closes lower than the previous months low. You might want to tighten up stops or at the very least keep a close eye on this market. Disclaimer: The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
FXOPEN:XAUUSDShort
by The_STA
BTC Approaching Resistance zone.As you can see on the chart, Using my strategy i have found a OTZ (Optimal trading zone), this particular zone has been tested Various times with price entering and exiting from here. The zone is between $28,133 - $27,444. - Looking for potential breakout out of this zone, once this happens I like price to re-enter this OTZ again to establish a strong support within the zone, this can help determine direction of the market. - The strategy I use focuses on finding a double bottom pattern, I'll sharing my future Ideas that will explain my reasons of entering. Thanks for reading, I am Richy from Limitless Trading Firm.
by LimitlessRx8
EUR/USD sitting on trendline supportWe discuss whether we think the uptrend on EUR/USD will hold.... Disclaimer: The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
by The_STA
UK inflation data out this weekWe outline the support levels that you need to watch for GBP/USD.... Disclaimer: The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
by The_STA
MARKETS week ahead: May 21 – 27Last week in the news Overall sentiment on financial markets continues to be uncertain when taken into account all inputs from US officials regarding the state of the US economy and potential further monetary measures. Current uncertainties are additionally supported by the lack of agreement about the US debt ceiling. The EU markets finished the week in green amid US debt ceiling non-agreement, while US equities were down due to the same reason. The crypto market remained relatively flat during the week, with Bitcoin ending the week modestly below FWB:27K , and Ether modestly above $1.8K. Fed Chair Powell gave a speech at a monetary conference in Washington during the previous week, but said nothing new when future monetary moves are in question. Further rate increases will depend on the current state of the economy. Inflation and labor markets are two important segments which will be closely watched also in the future, and depending on their developments, the Fed will make decisions accordingly. There is also some potential for the Fed to pause rate hike at their meeting in June, but it does not provide certainty that hikes will not continue during the second quarter of this year. Economists are concerned over potential over-hiking, considering the fact that it takes some time until monetary policy fully transmits into the economy. The saga over the US debt ceiling continues. The agreement still has not been reached. On one side, House Speaker Kevin McCarthy and US President Joe Biden noted their beliefs that the agreement might be reached until June 1st. On the other side, Treasury Secretary Janet Yellen gave a speech in which she openly expressed the worst-case scenario if an agreement is not reached. She noted that a US default would trigger a “number of financial markets break – with worldwide panic triggering margin calls, runs and fire sales”. Such a scenario would leave at least 8 million Americans without a job, while the final deadline is set for June 1st, she noted. The G-7 meeting of seven most developed countries in the world started on Friday in Hiroshima, Japan. Conclusions from this meeting will be briefly followed by the markets, considering that many important global topics will be discussed, like international trade and security. Although Binance exchanger announced that it will cease operations in Canada due its restrictive newly adopted law on digital assets, Coinbase (COIN) officials commented that they are very found of the new law, as it provides regulatory clarity for companies operating within the crypto segment, commenting also that this type of clarity is highly unavailable in the US laws. As officially announced, Coinbase is planning to expand operations in Canada, by introducing Interac payment rails to Coinbase platform. Crypto market cap There is currently a sort of status-quo on financial markets, except for US Treasury bonds. Investors were expecting to hear more information on future Fed moves from Powell's speech in Washington during the previous week, however, he provided no additional information except for those that the market already priced. On the other hand, Treasury Secretary Yellen mentioned some scary dooms-day scenario for global financial markets, if the US debt ceiling is not increased by June 1st. All this provides a sort of wait-and-see situation for investors, which are trying to figure out which side to trade. As of the end of the previous week, there have been some movements from US equities to EU equities. Probably, some investors have decided to secure their funds, through geographical diversification, until the saga with US debt is finally settled. The crypto market is making a pause from a two-week correction. During the previous week, total crypto market capitalization remained relatively flat, with a total funds inflow of minor $5B. Daily trading volumes also decreased from a week before, trading around SGX:40B on a daily basis. This is further confirming that the market is on a road of exhaustion of previous moves to the downside, and is following general status-quo on financial markets. Total crypto market capitalization increase since the beginning of this year remained flat at 44%, where it has added a total $335B to the market cap. Although majority of coins ended the week with a small gain, there were also few of them which finished the week in red. Bitcoin was traded relatively flat, with a small gain of 0.4% or $2B on a weekly basis. At the same time, Ether was traded in a negative territory, with at loss of $2B in a market cap or total 1%. XRP was also a coin which was supported by the news related to developments in Ripple company, and managed to gain $2B or 9.8% compared to the end of the previous week. Solid gainers of the week in relative terms were Solana, which increased its market cap by 8.9% w/w, OMG Network was up by 10% and Litecoin with a surge of 14% within a single week. On the losing side were Solana, with a drop in value of 2.9%, Maker was down by 1.6%, while Monero dropped by 1.4% w/w. As for coins in circulation, Filecoin continues with its strong push to the upside, with added 0.8% of new coins. Polkadot also increased its circulating coins by 0.8%, while at the same time, Ether decreased circulating coins by 2.1% within a week. Crypto futures market Both ETH and BTC futures ended Friday`s trading session in green. However, in line with developments on the spot market, movements to the positive side were minor. BTC short term futures were closed up by around 2% on average, while long term ones were traded with only minor change compared to the week before. Futures maturing in December 2023 were traded by 2.1% higher, ending the week at level of $27.590, while those maturing in December next year were closed at price $28.280, almost without a change compared to the week before. ETH short term futures were up around 1.5% w/w, while futures with longer maturities were traded higher by modest 0.5%. Futures maturing in December 2023 were closed at price of $1.824, and those maturing in December next year were traded at the latest price of $1.869.
CRYPTOCAP:TOTAL
by XBTFX
Potential base pattern on AmazonWe have identified a potential base pattern on the Amazon share price that will complete on a close above 114, the reaction high that we saw in January. A close above 114 would complete the base an offer a potential upside target of 147. One to watch! Disclaimer: The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
NASDAQ:AMZNLong
by The_STA
Looking at EUR/USD levels ahead of ZEW and US retail salesDisclaimer: The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
Short
by The_STA
Dollar bulls on the rise? (DXY)The American Dollar Index (DXY) appears to be forming a double bottom pattern similar to the one it formed in March 2022. This pattern is considered a bullish chart pattern that indicates a potential trend reversal from a downtrend to an uptrend. A breakout from this pattern could trigger a significant rally in the dollar, possibly up to the 110 price level. However, this bullish outlook for the dollar could have implications for other markets, particularly the crypto and stock markets. Historically, the dollar and these markets have had an inverse relationship, where a strong dollar usually leads to a weaker performance in the crypto and stock markets. Therefore, if the dollar rally materializes, it could lead to end-of-year lows for these markets. Traders and investors should monitor the DXY closely for any breakout signals from the double bottom pattern and adjust their trading strategies accordingly.
TVC:DXYLong
by Blast910
Outlining critical resistance on EUR/USD ahead of the ECBDisclaimer: The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
by The_STA
"Everything is under control, sound correction."Hello Crypto community! Whenever a large red candle appears, fears arise and the ghost of (we're going to zero) becomes relevant. Well, for that we have various technical and fundamental tools that help us in the difficult task of trading. We see in the daily BTC chart a price rejection zone between 30k and 31k, which could be due to bull exhaustion, short selling orders, and profit-taking from those who bought at 20k and 25k. The support levels to consider are: 26621 K 25267 K 23914 K This is not investment advice, happy trading and profits!
by CRYPTONIA5
EUR/USD at a 23 year pivot lineThe Euro dollar has reached a critical long-term resistance level between 1.1050 and 1.1075. This area marks the 23.6% retracement of the entire downward move from the peak in 2008 to the low in 2022. It is also where the previous long-term uptrend, dating back to the low in 2000, intersects. This intersection is expected to serve as strong resistance. Considering the daily Relative Strength Index (RSI), which indicates a loss of upside momentum, it would be reasonable to expect some profit-taking at this level. Disclaimer: The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
by The_STA
2
Bitcoin stuck for now, but should hold support on dipsDisclaimer: The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
CME:BTC1!Long
by The_STA
2