Neutral
SPY - Falling Trend [MIDTERM]- SPY shows weak development in a falling trend channel in the medium long term.
- SPY has marginally broken down through support at 390.
- An established break predicts a further decline.
- SPY is assessed as technically negative for the medium long term.
*EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut Loss, TF: Time Frame, RST: Resistance, LT TP: Long Term Target Price
Verify it first and believe later.
WavePoint ❤️
QQQ - Breakout Falling Trend [MIDTERM]- QQQ has broken the ceiling of the falling trend in the medium long term, which indicates a slower initial falling rate.
- QQQ has given a positive signal from the double bottom formation by a - break up through the resistance at 295.
- Further rise to 327 or more is signaled.
- QQQ has support at 295 and resistance at 320.
- Overall assessed as technically neutral for the medium long term.
Verify it first and believe later.
WavePoint ❤️
XAU/USD!!! Gold is bearishHello Traders!!
Weekly timeframe:
Gold is in trading in a range and here we can anticipate trading on support and resistance zones. Because it is moving from resistance we can easily anticipate that on daily timeframe market is in a lower trend where we can find some nice opportunities of selling gold.
Daily timeframe:
On daily timeframe market has made strong downward move to support area near 1810.
4H Timeframe:
On my entry timeframe I will be looking to break the support or show some nice retracement move and retest the previous support that will become resistance to go short nicely with some decent risk to reward ratio
Trading Advice:
On Gold my trading advice is to stay neutral untill gold makes some good retracement up or break support and retest it as resistance to go short!!!!
Thanks in anticipation
mahmad01