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Gold is flying. Macroscopic 3 Month zoom.The Gold party is still healty? 15 days are left for this 3M session to close and still has not found Its ATH high. lets see where this candle close. Taking a look at this giant timeframe trying to give some insightful notations. The big bullflag breakout has been impressive, since it broke the last all time high in Friday 07 August 20' at $2,075 price has not looked back. Giving outstanding returns from its last 3M higher low at $1,810 with a stairstep fashion during almost 12 months the top is not in sight and the uptrend is the best example of a strong one! How high can we go? Answer is very high! Twelve days are left for an entire year cicle favoring the bulls and It seems like the party has not finished. Gold started a 3 Month uptrend, It broke a 3M triple top at $2,075 shaped by the bullflag. Spawned as the last All Time High four years ago and staying in play for 45 months. The last time Gold started a 3M uptrend, It happened at Thursday 20 Jun '19 around $1,375. Counting the candles for this 3M timeframe, from the last swing higher low at $1,160 the result is 7 consecutive sessions favoring convincingly the bulls. That is 21 months or almost two years. How long this current Gold bull market will last? Answer is I dont know. I will be looking for clues and hints for temporary tops in lower timeframes.
OANDA:XAUUSDLong
by hectordsd
AU Bears "Head" Down to Target .6570Here I have AUD/USD on the Daily Chart! From Friday's High @ .67672 to its Low @ .66597, we can see we get the Confirmation of a strong reversal pattern with the Break of the Neckline of the Head & Shoulders! Now what I'd like to see off the same High and Low of Friday is Price give us a 38.2% Retracement of the Low & Pullback to test the Neckline for potential Sell Entries. ( .67008 - .6697 ) Swing High of Head to Neckline = 126.9 Pips Neckline - 126.9 = .6570 (Target) Fundamentals: AUD's undoing comes from a mix of a rise in Unemployment to 4.2% and Retail Sales ending August coming in @ 0% With the horrible run of jobs reports for the USD to start September, it managed to recover to end the week and give the idea that a 50 bps Rate Cut is less likely sitting at a 30% change and a 25 bps Rate Cut more likely at a 70% chance at the Sept 18th meeting. -RBA Interest Rate sits @ 4.35% -Fed Interest Rate sits @ 5.5% This upcoming week will be VERY news heavy for USD seeing as there is: -Core CPI, CPI m & y on Wednesday, Sept. 11th -Core PPI/ PPI m/m & Unemployment Claims on Thursday, Sept 12th!
Short
by Novi_Fibonacci
Master Gold’s Breakout Strategy: Key Levels Explained!this chart of Gold Spot (XAU/USD), we observe several key technical features that guide potential trade decisions: Forming Ascending Channel: The price is developing within an ascending channel, indicating a potential continuation pattern. This channel often signals further upward movement, but caution is needed, especially when the price is in a "weird" volatility zone or failing to make new lows. LQZ Grabbed: This marks a liquidity zone where a price sweep likely occurred, gathering liquidity from stop-loss orders. The market can potentially reverse after this grab, pushing the price higher. LTF Flags (1 and 2): These small consolidation patterns (flags) on the lower timeframe suggest continuation. The first and second flags could signify pauses in the broader trend, with the potential for either breakout or breakdown. Failed Push into Descending Hover: This indicates a failed bullish push, transitioning into a descending pattern (hovering near a key level). A failed breakout could signal upcoming bearish pressure. Price Path Projections: There are two scenarios represented by the green and yellow paths: Bullish Scenario (Green Path): If the price maintains the ascending channel and breaks out from the flag structure, we could see higher prices above the liquidity zone (LQZ), likely towards the 4-hour resistance level around 2532. Bearish Scenario (Yellow Path): If the price fails to hold, particularly breaking the ascending channel and descending, it could move lower toward the 1-hour LQZ around 2503. In summary, the price action around the flags and the liquidity zones (LQZ) will dictate the next major move. Waiting for confirmation of either the bullish breakout or bearish failure would align with a high-probability setup.
OANDA:XAUUSD
by Adlercon333
This Simple Strategy Could Make You a Fortune in the Gold Marketprice action of Gold Spot (XAU/USD) in relation to the trendlines and patterns indicated. Chart Analysis 1. Weekly Flag Trendline: - The first chart shows a trendline forming a "flag" pattern on a higher time frame (possibly weekly or daily). This flag appears to be a bullish continuation pattern, indicating that after the consolidation within the flag, the price might continue in the direction of the prior trend, which seems to be up. 2. Price Action Inside the Flag: - Within the flag, there is a period of consolidation marked by the parallel trendlines. The price has been respecting these lines, creating higher lows and lower highs, indicating indecision or preparation for a breakout. 3. Potential Breakout Zones: - Key breakout zones are marked by the upper resistance of the flag pattern around the 2,530 level and the lower support trendline of the flag around the 2,470 level. A breakout above the upper resistance could signal a continuation of the prior uptrend, while a break below the lower support could indicate a reversal or deeper pullback. 4. Smaller Patterns: - On the second chart (1-hour time frame), there's a more detailed view of recent price action with a potential bearish flag or pennant forming, suggesting a temporary pullback or consolidation within the larger flag. This smaller pattern appears to be within a trading range bounded by the horizontal support and resistance levels. 5. Key Support and Resistance Levels: - The charts show horizontal support around the 2,433.301 level, which aligns with a historical low that could serve as a significant support level. Similarly, the resistance level is around 2,530, where the price has repeatedly failed to break above. 6. Current Market Context: - The price is currently hovering around 2,497, near the middle of the trading range, suggesting indecision. This midpoint could be a neutral zone where the price could move in either direction based on upcoming market momentum or news. Trading Strategy and Considerations - Entry Points: - If considering a bullish scenario, a long entry could be planned near the lower support line of the flag, around 2,470, with a stop loss slightly below the flag's support to manage risk. A breakout above the 2,530 resistance could also provide a good entry point for a continuation of the uptrend. - For a bearish scenario, a short entry could be considered if the price breaks below the 2,470 support level, confirming a breakdown from the flag pattern. - Risk Management: - The proximity of the price to both upper and lower boundaries of the flag pattern provides clear levels for stop placement. This helps in managing risk effectively, keeping losses contained if the trade goes against the initial bias. - Monitoring Price Action: - Watch for potential breakouts from the smaller patterns within the flag, as these could provide early signals of the larger move's direction. It would also be essential to keep an eye on volume changes, as increased volume could confirm the validity of a breakout or breakdown. By aligning your trades with these patterns and key levels, you can take advantage of the potential setups provided by the price action within these consolidating formations. Ensure to adapt to new market conditions and stay disciplined in executing your trading plan.
OANDA:XAUUSDEducation
by Adlercon333
2
GBPUSD: Sell any retracements towards 1.3145-65 for 1.3080-90GBPUSD is in a downtrend in the short term with Weekly, Daily and 4H charts technical picture favoring the continuation of the move lower. Strategy: SELL at current levels and at any advance towards 1.3145-60 STOP LOSS above 1.3205 TP: 1.3085 or 1.3055-60 MULTITIME FRAME TECHNICAL PICTURE AND ANALYSIS Weekly: Reversal Weekly Bar at double channel top Daily: Reversal Patterns and RSI Double top 4H: H&S pattern pointing lower
Short
by Chartist-Trading
1
Bitcoin - A clear reversal is needed for bullish trendBitcoin is currently trading in the support zone around the $58,000 range. This support level has been tested multiple times and has held strong each time. For the bullish trend to continue, we need to see a clear reversal from this $58,000 zone. However, a breakdown from this support could push the price further down to the $54,000 range. At this moment, it’s uncertain which direction the price will move, but I’m optimistic that it will trend upward since the support has held strong multiple times. Follow our TradingView account for more technical analysis updates. Like, share, and comment with your thoughts. Cheers, GreenCrypto
Long
by GreenCryptoTrades
Preparing For A Potential Double-Top HereTraders, As you all know, the SPY has been moving EXACTLY as anticipated by me the last two years. And that worries me. Don't get me wrong, I have thoroughly enjoy the profits that have come with getting it right, but what we have to be careful about when doing so well is over-confidence. Because if we don't take a couple of steps back and say to ourselves, "I could get it wrong this time", then we could likely get it wrong. The market loves to humble cocky traders. And that is why I have sold half of my longs once again ...just in case I could be wrong. So, you can all read my previous posts and calls on the SPY, but for new readers, let me just catch you up with a brief summary to give you some context. About 2 years ago, after the market had dropped and many investors thought it would continue down, I came under the persuasion that it would soon reverse. Though, I am a rookie when it comes to Elliot Wave, I had noticed some other contrarian traders and chartists had begun to explain from a fundamental basis why it would move up soon. These same investors began plotting a likely blow-off top scenario based on fundamentals, market psychology, and Elliot Wave theory. It made sense to me but I was hesitant to go full in based on this information alone. I began reading more about market fundamentals and psychology and learned that most of what I read actually supported the idea of a blow-off top. Then I spotted another pattern on the daily chart (an inverse head and shoulders pattern) which strengthened the theory even more. This pattern gave me my SPY target of 570. You can still see that Previous Target outlined here on my chart. We nearly reached that target. Missed it by a few dollars. It was there that I sold half. And right on time. The Japanese carry trade flash crashed the markets and down we went. As we were nearing the 200 DMA, I spotted a new bullish pattern on the weekly chart. This was a Cup and Handle. I bought back in near the bottom recognizing that this blow-off top was probably not at an end ...yet. Fast forward to today. We are once again nearing my Previous Target of SPY 570 and though we could move even higher (and I honestly believe we will), I want to prepare for a scenario where I could be wrong. You can see from the chart here that we may also be forming a bearish double-top or M-Pattern. If this is the case, it is wise for me to prepare for another drop soon. Thus, I have once again, sold half. Should the M-Pattern play out, I will likely buy back in around the 200 DMA (wherever this happens to be at the time) because I still believe that Cup and Handle pattern on the 2-week chart will play out and that the blow-off top will not end until we reach 650-700 on the SPY. Obviously, this forcast could change based upon significant geo-political/global events. But for now, this is how I see it going. Scenario 2: If we do not drop and that M-Pattern becomes invalidated. I will also buy back in should we exceed my previous target on the chart. In either case, updates will follow.
AMEX:SPY
by stewdamus
PEPE - MEMEs are on the rise again#PEPE/USDT #Analysis Description --------------------------------------------------------------- + MEME has hit the support zone and recently formed a higher high. + A successful reversal is evident from the support zone. + The RSI is also indicating a reversal as it bounces from the <30 zone. + The next resistance may pose a challenge, but strong bullish momentum could potentially break through it. --------------------------------------------------------------- VectorAlgo Trade Details ------------------------------ Entry Price: 0.00000812 Stop Loss: 0.00000547 ------------------------------ Target 1: 0.00001047 Target 2: 0.00001284 Target 3: 0.00001737 Target 4: 0.00002566 ------------------------------ Timeframe: 1D Capital Risk: 1-2% of trading amount Leverage: 5-10x --------------------------------------------------------------- Enhance, Trade, Grow --------------------------------------------------------------- Feel free to share your thoughts and insights. Don't forget to like and follow us for more trading ideas and discussions. Best Regards, VectorAlgo
Long
by VectorAlgo
2