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US500 BULLISH SYMMETRICAL TRIANGLEhi Fundamental view The **US500 index** dropped due to several key factors affecting the U.S. stock market: 📉 **Tech Stock Decline** – Technology stocks faced heavy pressure, especially after **Nvidia** plunged **6.9%** due to U.S. restrictions on AI chip exports to China. Other stocks like **AMD (-7.3%)** and **Micron Technology (-2.4%)** also fell. 💰 **Federal Reserve Uncertainty** – Remarks from **Fed Chair Jerome Powell** raised concerns in the market. Powell warned that new tariffs could trigger higher inflation and slow economic growth, making investors uncertain about interest rate policies. 🛍️ **Surge in Retail Sales** – Retail sales jumped **1.4%** in March as consumers rushed to buy before new tariffs took effect. This highlights economic uncertainty, pushing investors to sell their stocks. Overall, a mix of trade tensions, uncertain monetary policy, and a tech stock sell-off caused the **US500 index to drop 120.93 points (-2.24%)** on **April 16, 2025**. Technical view Yes, the **bullish symmetrical triangle** pattern is often a strong signal for upward price movement. When the price moves within this pattern, it usually indicates a **tightening volatility** before a **breakout**, which can present a good market entry opportunity. 🔍 **Breakout Confirmation** 1️⃣ Increased trading volume when price breaks above the **upper trendline**. 2️⃣ A closing candle above the **triangle resistance** for a valid signal. 3️⃣ Price targets can be measured using the pattern’s initial height as a projection. 📈 **Potential Price Movement** If the breakout happens, the price could surge toward the next **resistance level**. However, if the breakout fails and price moves below support, the pattern could turn **bearish**. Warren Buffett famously said, “Be greedy when others are fearful.” good luck **My trading strategy is not intended to be a signal. It's a process of learning about market structure and sharpening my trading my skills also for my trade journal** Thanks a lot for your support
CAPITALCOM:US500Long
by mytw0cents
XAUUSD RECAP & TRADE IDEAFrom the previous setup, we can see that the movement of gold made a breakout at the 2728 level before dropping to the take profit level at the 2.618 Fibonacci extension (2651) and then made a correction to the 50-61.8 Fibonacci retracement level (2709). So this week, I am waiting to see if the current price will head towards the 1.618 Fibonacci extension before deciding to continue the buy position. If the price successfully breaks the support level at 2642, it is likely that the price will head towards 2360-2500/90. However, if there is a bounce at the support area, the price might continue to rise towards 2690-2700. **My trading strategy is not intended to be a signal. It's a process of learning about market structure and sharpening my trading my skills also for my trade journal** Thanks a lot for your support
FX:XAUUSDLong
by mytw0cents
XAUUSD TRADED IDEAHi all There are two movements, buy and sell. If the price respects the trendline, it is likely that the price will continue to drop to TP 1. However, if there is a breakout at the trendline and it makes a new high, it is likely that the price will change direction to a buy and target an all-new time high of 2874 **My trading strategy is not intended to be a signal. It's a process of learning about market structure and sharpening my trading my skills also for my trade journal** Thanks a lot for your support
FX:XAUUSDLong
by mytw0cents
XAUUSD TRADE IDEAhi all Gold is currently trading within a 4-hour range. The price has already broken the initial trendline. Now, we are waiting for the second trendline, which is between the high of $2,672.96 and the low of $2,631.92, to break. A pullback to the 0.236% Fibonacci extension area might provide an opportunity to buy the dip and cut the position if the candle closes below $2,634.37. **My trading strategy is not intended to be a signal. It’s a process of learning about market structure and sharpening my trading skills, as well as for my trade journal.**
FX:XAUUSDLong
by mytw0cents