EURUSD: Should I Buy?Hello everyone!
Overall, EUR/USD is slightly down for the second day in a row, trading around 1.0780 on Monday morning. Looking at the daily chart, you can see that the pair is testing the upper boundary to return to the descending channel pattern. This could reinforce the bearish bias for the pair.
However, there are signs of a potential bottom forming at 1.0760. Furthermore, using the Fibonacci retracement of the first wave, if the rally continues, the next recovery points for EURUSD would be 0.382 (price level 1.085) - 0.618 (price level 1.093) - 0.5 (price level 1.098).
Optionsstrategies
META Platforms Options Ahead of EarningsIf you haven`t bought the dip on META:
Now analyzing the options chain and the chart patterns of META Platforms prior to the earnings report this week,
I would consider purchasing the 570usd strike price Puts with
an expiration date of 2024-11-1,
for a premium of approximately $21.75.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
What October 25th's Options Portfolio Tells Us About the YenOur analysis of options portfolios from October 25th revealed a Straddle setup on the Japanese yen futures, with a short expiration date set for November 1, 2024. Now, this isn’t exactly a rare sight for the yen; these Straddle portfolios pop up pretty regularly, especially when we’re looking at short expiration periods.
From what we've seen, in about 4 out of 5 cases, the quotes tend to hang around the Straddle boundaries and often bounce off them. A recent example? August 5th—prices hit the upper limit at 149.20 (that’s the spot quote) and then bounced back nicely, giving savvy traders a sweet opportunity to jump into a short position on the dollar with a solid risk/reward ratio.
So, what's the takeaway here? Use those Straddle boundaries to open positions in the spot/forex market. It makes sense to trade in the direction of the main trend, which means looking for a drop in the yen against the dollar when prices hit that upper boundary—check out #1 for a visual.
Now, I can hear the skeptics asking: what's the rationale behind these price movements at the Straddle boundaries? After all, a Straddle is just a straightforward strategy that involves buying volatility and betting on price movement. True, that’s the textbook definition, but it’s just scratching the surface. The real insights and "battle-tested applications" of this strategy are way more intricate than they seem.
Stay tuned for our updates, and you’ll definitely uncover the hidden meanings and value of options analysis for the everyday forex trader. Trust me, these insights can give you a real edge in the market. It’s worth your time and effort!
EUR/USD: Extending the declineHello dear friends.
Overall, EURUSD has made a significant recovery from last week with a price increase beyond 1.0800 after data from the US showed that Durable Goods Orders fell 0.8% in September. However, unfortunately, the pair quickly fell back and closed the fourth consecutive week in negative territory, weakening EURUSD significantly.
In addition, from the 1-hour chart, the pair has broken the rising trend line and the price wedge has been broken, suggesting that the bears are likely to continue to gain the upper hand without any significant reversal, as shown by the flat 34.89 EMA.
EUR/USD: hits new 16-week lowEUR/USD is trading around 1.078 and the technical picture remains heavily bearish after failing to break above the 1.0800 resistance level. The decline comes as Fibre falls sharply ahead of Thursday’s new round of Purchasing Managers’ Index data. ECB officials have played down economic concerns, reiterating the need for caution when considering future rate cuts.
As seen on the 1-hour chart, it can be seen that the price remains below the 34, 89 EMAs and the price wedge has not been broken, suggesting that the downtrend is not over yet. This usually allows sellers to still gain the advantage of a more bearish reversal in the near term, potentially reaching lower levels around 1.0740.
Happy trading.
Technical Analysis of Donald Trump Media & Presidential ElectionNote that the DJT has risen significantly from the recent lows. It is currently sitting at the Red support-resistance line on the chart. We normally short stocks at this point, but with the Elections approaching fast, should we entertain thoughts of Donald Trump winning? If yes, we should be buying $DJT.
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How to understand price action.
It is very easy to read price action if you have a reference point. These support/resistance lines are there to help you read where the buyers and sellers are likely to make a stand.
You can also think of these indicators as moving pivot points.
MasterChartsTrading Price Action Indicators show good price levels to enter or exit a trade.
The Blue indicator line serves as a Bullish Trend setter.
If your instrument closes above the Blue line, we think about going Long (buying).
For commodities and Forex, when your trading instrument closes below the Red line, we think about Shorting (selling).
For Stocks, I prefer to use the Yellow line as my Bearish Trend setter (on Daily charts ). A stock has to close below the Yellow line first, then rally towards the Red line and top out there. This is where I would short it. Shorting is more difficult and should be done with extreme caution by novice traders.
#DonaldTrump #Elections #stocks #options #trading
Opening (IRA): TQQQ Sept 20th 63 Monied Covered Call... for a 59.60 debit.
Comments: High IVR/high IV at 68.7/63.1%. Selling the -75 delta call against stock to emulate the delta metrics of a 25 delta short put, but with the built-in defense of the short call.
Additionally, adding at strikes/break evens better than what I've current got on (the August 16th 73 covered calls; break even 70.80).
Metrics:
Buying Power Effect/Break Even: 59.60
Max Profit: 3.40
ROC at 50% Max: 5.70%
50% Max: 1.70
ROC at 50% Max: 2.85%
Will generally look to take profit at 50% max; roll the short call out for duration on side test.
EURUSD: to the point of important supportEUR/USD has restored half -hearted on Thursday, restoring four tenths of percent and increasing over 1,0800. Despite the recovery on the weekend, Fiber still dropped sharply compared to the recent high level after a decrease of more than 4% from top to bottom compared to the highest bid at the end of September nearly 1,1200.
Technically, the recent decline has followed the principle of DOW theory, showing that after a large decline, the market will often tend to adjust. In this scenario, EURUSD is likely to retreat to Fibonacci levels 0.5 to 0.618, in the range of 1,09307 to 1,09836. This will be an important resistance area, where the price may slow down or have a selling pressure again.
What do you think of the recovery momentum at the present time?
$MBLY The Future is Bright with Massive Upside. 10x Opportunity!NASDAQ:MBLY
The Future is Bright with Massive Upside. 10x Opportunity!
In this video, we will be going over the following with Mobileye Stock:
- The potential for a short squeeze in the name 17%+ short float
- NASDAQ:MBLY aligning with my 5/5 trading strategy
- Potential acquisition of NASDAQ:INTC by NASDAQ:QCOM and what that means for NASDAQ:MBLY
- Upcoming earnings preview
Like ❤️ Follow🤳 Share 🔂
Comment what stock you want to see charting analysis on below.
Not financial advice.
NASDAQ:QQQ AMEX:SPY NYSE:QS NASDAQ:BIVI NASDAQ:VKTX NASDAQ:ASTS NASDAQ:MNPR
#SmallCaps #TradingSignals #TradingTips #options
XAUUSD: Exiting the uptrend channel !Latest gold price forecast today October 24, 2024:
Gold information:
World gold prices fell sharply today due to pressure from the increase in the USD and US Treasury bond yields. Specifically, the US Dollar Index increased by 0.3% to nearly a 3-month high, which put pressure on gold prices. US bond yields also increased to a 3-month high, increasing the opportunity cost of holding gold.
Although gold prices have decreased, experts are still optimistic because the uncertainties related to the US election along with the increasing debt burden in this country are also making investors worried and looking to gold as a safe haven for cash flow.
Conclusion:
This has caused gold to continuously conquer records and has increased by more than 31% this year. With this momentum, gold is one of the best investment channels in 2024.
Ben's personal comment:
On most timeframes, gold price is still well supported, creating a good recovery momentum from the support level of 2408 and now 2723 dollars. The recovery is likely to continue in the coming time with targets of 2733 - 2739 respectively, before any further correction in the main trend.
Gold setup:
Buy entry: 2721 - 2717
SL: 2713
TP: 2733 - 2739
Sell entry: 2733 - 2735 - 2737 - 2739
SL: 2743
TP: 2714 - 2708
Gold prices continue to search for new peaks?Conan, hello everyone!
Today, the price of gold continues to break records by maintaining a new peak around $2700, and the growth trend seems to show no signs of slowing down this year.
Notably, this week, the European Central Bank held a meeting and officially decided to cut interest rates for the third time this year, with a reduction of 0.25 percentage points. At the same time, gold has attracted more attention from investors after the LBMA poll released earlier this week. These developments have made the gold market hotter than ever. It is expected that this price increase will reach $2760. What are your thoughts on this issue? Do you agree with me?
EURUSD: Selling strategy is preferred!EUR/USD continued to slide below 1.0800 during the European session on Wednesday. The major currency pair remained under pressure as the outlook for the Euro (EUR) deteriorated due to faster-than-expected inflation declines and rising risks of a Eurozone recession, fueling speculation of more rate cuts by the European Central Bank (ECB).
EUR/USD was also pressured by a rally in the USD. The US dollar gained amid political uncertainty ahead of the US presidential election and strong expectations that the Federal Reserve (Fed) policy easing cycle will be more gradual than previously expected.
Trend-wise, the bearish bias remains dominant across most timeframes and the short strategy remains the dominant style.
Happy trading and good profits!
Gold continues to conquer new heightsHello everyone! What is the current price of gold? Let's analyze with Victor!
The world gold price today set a new record of 2,747 USD/ounce, up 27 USD compared to the same period yesterday at 2,720 USD/ounce. The world gold price skyrocketed to an all-time high as investors increased their demand for safe capital due to uncertainties surrounding the US presidential election and ongoing military conflicts in the Middle East. In addition, gold is considered a hedge against geopolitical and economic instability and has increased by more than 32% since the beginning of 2024. Lower interest rates also increase the attractiveness of holding gold.
As can be seen on the 2-hour chart, gold is showing an extremely positive technical outlook. With moving averages sloping up and technical indicators supporting the bullish trend, gold is ready to conquer new highs. The $2,733 support level acted as a solid cushion in line with the 34 EMA and the rising channel limit, allowing gold to easily clear the $2,747 resistance and move strongly towards the $2,770 target.
So, what do you all think about gold prices today? Will the bullish momentum continue?
Gold prices continue to rise at the end of the week!Hello everyone, what do you think about the gold price?
Today, the gold price is on an upward trend, after the buyers previously completed conquering the highs at 2661 -2700 - 2720 respectively, the price has started to increase and is currently trading at a new high of 2721 dollars. This increase is due to the fact that the two largest and second largest economies in the world, the US and China, have both announced negative economic data, which has boosted the demand for gold reserves. In addition to the reason for the poor economic information, investors expect the US Federal Reserve to cut the USD interest rate in early November, the market also expects the upcoming US election in November.
As seen on the 4-hour chart, the gold price has been continuously pushed up since the price broke out of the downtrend and in addition, the new peak is still unclear before the weekend close, showing that the upward trend will continue. Using the Fibonacci extension, I expect and forecast that the gold price will likely move in the Elliott wave (1,2,3,4,5) and target higher levels at around 1.618 i.e. (2739) and if 1.272 (2717) holds, the price will increase higher to level 2 (2762) to continue to set as the final target.
At this time, the realization phase is forming, Conan is waiting for confirmation with the aim of further strengthening in the coming time. What do you think about this view?
EURUSD: Recovery then decline?Hello dear friends! What do you think if EURUSD continues its downtrend in the future?
This will be a long-term analysis for this currency pair.
On the chart analysis: Ben sees that a double top pattern has formed (clearly indicated from the chart) which marks a strong fight from the sellers as they try to push the downtrend back.
Furthermore, using Fibonacci retracement levels to measure the retracement of the first wave (blue area), the downtrend is expected to continue after reaching the 0.618 retracement level.
If the price action of this currency pair plays out according to this trading idea, the 1.0910 and 1.0779 levels will be targeted by the sellers.
What about you? How do you feel about the future trend of EURUSD? Share in the comments!
Latest GBPUSD Comments Today - October 21, 2024Looking at the GBPUSD chart, we can see that the price is moving within a clear downtrend channel. Currently, the price is right next to the upper trendline of this channel, indicating that selling pressure may dominate and continue to push the price lower.
Today's trading trend: SELL scalp.
Trading strategy: For those considering trading, it is reasonable to look for a selling opportunity in the resistance area near $1.3050, with a target of $1.2950. Place a stop loss above the resistance area of $1.3070 to limit risk.
Wishing you a profitable and safe trading week.
Gold prices continue to rise from $2,600Dear Traders!
Analyzing the gold chart on the 1-hour time frame, we can see that gold prices were relatively weak at the beginning of the trading session after closing the week at $2660 with a slight reversal, currently hovering around $2656. This reversal is due to some short-term technical factors, especially a gap opening, which prompted investors to fill in based on the fundamental technical factor and is currently doing so. In addition, the price is still reacting to the 34 EMA and the Elliott wave on the uptrend channel has not been broken yet, so the expectation is that gold prices will continue to be attractive in the near term. With the current Elliott wave trend, gold is likely to move towards higher targets if it breaks through the important resistance area of $2660.
Always analytical. Good luck traders!
Gold XAUUSD trading trend analysis on October 21, 2024At the end of last week's trading session, gold prices continued to increase strongly. Gold prices have created a new ATH after a correction to 260x. We will now trade according to the main trend. Wait for the next adjustment of gold to enter a long-term order.
Today's trading trend: BUY scalp.
Price zones to pay attention to:
BUY zone: 2703 - 2708
SELL zone: 2735 - 2740 and 2745
Wishing you a profitable and safe trading week.
Gold price on weekend (October 18)Gold prices continued to rise today and hit a new record, reaching a full $2,700 at the beginning of the session and the upward momentum is still strong.
Accordingly, gold reached a record high as it continued to be driven by safe-haven demand, due to concerns about instability surrounding the US presidential election and conflicts in the Middle East. In addition, expectations that the US Central Bank will continue to loosen monetary policy after cutting interest rates by half a percent last month are growing, also adding strength to the yellow metal. Thus, with the recent increase, gold prices have increased by more than 30% and officially "broke" the record.
In addition to concerns related to the situation in the Middle East, the US election also created instability, which continued to boost safe-haven demand for this yellow metal.
Gold prices continue to rise strongly!Hello everyone, let's update the gold price today!
Currently, the gold price is fluctuating around 2728 USD, almost unchanged from this time yesterday, although there was a slight decrease before. This shows that the purchasing power of this precious metal is still strong and stable.
The main reason for gold to maintain its position is thanks to a series of geopolitical tensions in the Middle East along with the hope that the US Federal Reserve (Fed) will continue to loosen monetary policy at its meeting in early November.
In my personal opinion, the gold price's rise has not stopped yet. Although the USD and bond yields tend to increase, the gold price still makes a spectacular breakthrough. Investors continue to put their faith in gold, expecting the price to continue to climb from now until the end of the year!
DAL Delta Air Lines Options Ahead of EarningsIf you haven`t bought the dip on DAL:
Now analyzing the options chain and the chart patterns of DAL Delta Air Lines prior to the earnings report this week,
I would consider purchasing the 50usd strike price Calls with
an expiration date of 2024-11-15,
for a premium of approximately $3.10.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
MIDCPNIFTY Hits 3 Targets in Short Trade – TP4 Awaiting!In this short trade on the MIDCPNIFTY, three targets have already been met, reaching up to TP3 at 12605.25. We are currently watching for TP4 at 12499.35 to be achieved.
Key Levels
Entry: 13053.70 – A strong bearish signal triggered this short entry.
Stop-Loss (SL): 13139.35 – Positioned above the entry to protect from upward movements.
Take Profit 1 (TP1): 12947.85 – Achieved as part of the initial downward momentum.
Take Profit 2 (TP2): 12776.55 – Hit following sustained selling pressure.
Take Profit 3 (TP3): 12605.25 – Reached as bearish momentum continues.
Take Profit 4 (TP4): 12499.35 – The final target, currently awaited.
Trend Analysis
The price remains comfortably below the Risological Dotted Trendline, confirming a strong downward trend. Three targets have already been hit, and further downward momentum could see TP4 being reached.
MBLY SHORT SQUEEZE INBOUND!!! NASDAQ:MBLY
SHORTS ARE COOKED ON 🩳🍋
We finally closed over the 50MA, extremely BULLISH!
There is a massive short float on this stock that's making higher highs. #MOASS #SHORTSQUEEZE INBOUND!!!
My 1st price target for this daily chart is...🥁🥁🥁
🎯$14.80
Not financial advice. 🖖