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Nvidia - The tide is (finally) turning!NASDAQ:NVDA is about to create a bearish reversal which will lead to a -60% correction! Charts just don't lie at all - instead fundamentals are always an illusion. Nvidia was retesting a major resistance trendline and is starting a significant bearish reversal. Nothing changed fundamentally but Nvidia is already down -25% over the past couple of days. This is just the beginning of another potential bear market, like we saw it back in 2018 and 2021... Levels to watch: $55 Keep your long term vision, Philip - BasicTrading
NASDAQ:NVDAShort
by basictradingtv
6
This Simple Error Cost Me Big on XAUUSD! Learn From My Mistakes!Key Levels and Zones Highs and Lows: HH (Higher High) and LH (Lower High) are marked on the chart. The chart shows a recent HH and LH indicating a bullish trend with a potential pullback. Liquidity Zones (LQZ): 4HR LQZ at 2474.891: This zone might act as a significant resistance level. 4HR LQZ at 2432.126 - 2432.046: This zone was previously a resistance level that may now act as support. 4HR LQZ at 2348.453: Another support zone lower on the chart. Daily Bull Flag: A daily bull flag is drawn, suggesting a potential continuation of the bullish trend if the price breaks out upwards. Trading Plan Identify Key Zones: Mark key support and resistance levels on your trading platform. Wait for Confirmation: Look for confirmation signals (candlestick patterns, volume spikes) before entering a trade. Set Alerts: Use trading alerts to get notified when the price reaches key levels. Risk Management: Always use a stop loss to protect your capital. Ensure your risk-reward ratio is at least 1:2. Review and Adjust: Regularly review your trades and adjust your strategy based on market conditions.
OANDA:XAUUSDShort
by Adlercon333
3
Unfolding Patterns in Gold: Bullish Gartley and Bearish CypherGood day traders, It's been a while, and I trust everyone has been doing great. Permit me to share my thoughts on the Gold market and the potentially unfolding patterns I am anticipating. In the current gold market, I have identified two potential harmonic patterns that may be unfolding. The first and larger pattern is a potential bullish Gartley pattern. The X leg originates at 2286.83, and the A leg peaks at 2483.74, establishing the impulse legs. The B leg appears to have completed at 2365.915, corresponding to a 61.8% retracement of the XA leg. At the B leg, the price seems to be finding support. If this support holds, I anticipate a rally towards the 2430-2442 region to form the C leg. Subsequently, I would expect a price drop, provided it is indeed a Gartley pattern. A decline below 2341.540 would invalidate the Gartley pattern formation. The second and smaller pattern is a potential bearish Cypher pattern. The X leg began at 2483.74, and the A leg seems to have completed at 2383.930. The XA leg was retraced by less than 50% Fibonacci at 2413.715, forming the B leg. Currently, it appears that the price is finding support at 2365.915, which could potentially be the C leg. If this support level holds, we might expect a rally towards the 2430-2442 region, confirming the larger Gartley pattern. If the Cypher pattern is valid, we could see a further rise in price towards the 2471.64 and 2480.00 region to complete the bearish Cypher before a subsequent drop. A drop below 2363.655 would invalidate the potential Cypher pattern formation. It would be best to wait for a break above the 2384.518 price region in order to allow the market show commitment to move higher. This could provide additional confidence in the outlined outlook. Please note that these patterns may not be formed eventually. Cheers and happy trading!
OANDA:XAUUSDLong
by Samuel124
6
Gold Breakout Imminent? Uncover the Explosive Potential of GOLD!Current Trend Bull Flag Formation: The chart indicates a bull flag pattern, a bullish continuation pattern that usually occurs after a strong uptrend (flagpole). The consolidation within the flag is typically a pause before the next upward move. Trendlines: The yellow trendlines outlining the flag suggest that the price is currently testing the upper boundary of this consolidation range. Fibonacci Retracement Levels 78.60%: This level is around 2431.637 (coincides with a 4HR LQZ), acting as a strong resistance zone. 61.80%: Around 2410.880, which the current price has just crossed, potentially indicating bullish momentum. 50.00%: Around 2393.940, served as a support level during the consolidation. 38.20%: Around 2372.760, another support level during the consolidation. Liquidity Zones (LQZ) 4HR LQZ at 2431.637: A significant resistance zone that aligns with the 78.60% Fibonacci retracement level. This is a critical area to watch for potential price reaction. 4HR LQZ at 2349.449: A key support zone which held during the recent consolidation phase. Price Action Current Price: At 2410.880, the price is approaching the critical resistance at the 4HR LQZ (2431.637). Breakout Potential: If the price can break and hold above the 2431.637 level, it may confirm the continuation of the bullish trend, targeting higher liquidity zones. Support Levels: The price needs to stay above the 61.80% Fibonacci retracement level (2410.880) to maintain bullish momentum. A drop below could lead to further consolidation or a bearish reversal. Daily Bull Flag Upper Trendline: The price nearing the upper trendline of the daily bull flag indicates potential breakout if breached. Lower Trendline: Support if the price pulls back. Trading Strategy Long Entry: Upon a confirmed breakout above the 4HR LQZ at 2431.637, with a potential target of the next daily liquidity zone at 2475.281. Use the 50.00% retracement level (2393.940) as a support for placing stop-loss to protect against downside risk. Short Entry: If the price fails to break above the 4HR LQZ and shows bearish reversal signs, a short trade could be considered with a target back to the lower 4HR LQZ at 2349.449. Use the current price level (2410.880) as a resistance for stop-loss placement. Risk Management: Utilize appropriate position sizing and risk management to account for volatility and potential price fluctuations. Summary Bullish Outlook: If the price breaks above the 2431.637 level, indicating a continuation of the bull flag pattern, with targets at 2475.281 and beyond. Bearish Outlook: If the price fails to break above 2431.637 and shows a reversal, potential downside targets include 2393.940 and 2349.449. Monitoring the price action around these critical levels will be crucial in determining the next significant move for XAUUSD.
OANDA:XAUUSDShort
by Adlercon333
Gold's Next Big Move: Will It Skyrocket or Plummet? Expert View!Major Support / Resistance Zone: This zone is marked clearly on the chart and acts as a significant level where price has previously reversed or consolidated. It's crucial to monitor how price reacts around this area. Wave Analysis: The chart shows a clear Elliott Wave structure, with a 5-wave pattern identified. Waves (1) to (5) represent the motive waves, and the correction waves are seen in between. Bearish Flag #1 and #2: These flags indicate periods of consolidation following a downward movement, suggesting potential for continuation to the downside. They are often characterized by lower highs and lower lows forming within a channel. Descending Channel: The descending channel provides a clear bearish structure, with price making lower highs and lower lows. This channel acts as a guide for potential price movement, indicating bearish sentiment as long as the price remains within this structure. Daily Bull Flag: This larger bullish flag formation suggests a longer-term bullish potential if price breaks above the flag's upper boundary. It's a key pattern to watch for potential upside. 1HR LQZ / Reversal Zone: This liquidity zone (LQZ) is marked as an area where a significant amount of orders might be present, potentially leading to reversals or significant price reactions. 4HR LQZ: Similar to the 1HR LQZ, but observed on the 4-hour timeframe, suggesting a more significant potential reversal or consolidation area. Bullish Potential: If the price breaks above the 1HR LQZ / Reversal Zone and the descending channel, there is a bullish potential up to the levels marked on the chart. The structure would need confirmation through higher highs and higher lows. Bearish Potential: If the price fails to break above the descending channel and instead moves below the 4HR LQZ, a bearish continuation is likely, potentially targeting lower support levels. Summary The chart indicates a potential for both bullish and bearish scenarios depending on how the price reacts to the identified key levels (major support/resistance zone, 1HR and 4HR LQZs, and the descending channel). Bullish scenario: Break above the 1HR LQZ and the descending channel, leading to a continuation towards higher levels. Bearish scenario: Failure to break above the descending channel and a move below the 4HR LQZ, indicating a continuation to the downside. This analysis should help in making informed trading decisions based on the observed technical patterns and key levels.
OANDA:XAUUSDLong
by Adlercon333
2
S&P500 - The beginning of the bear market?SP:SPX potentially created a top and is starting to head lower for the next months. We have patterns, cycles and market structure and if everything is lining up nicely, there is a high chance you will be right. The S&P500 is currently retesting a major multi-year resistance trendling, is starting to shift bearish on the smaller timeframes and just rallied +50% without any noticeable correction. In a couple of months, we will trade at lower levels! Levels to watch: $5.500, $4.500 Keep your long term vision, Philip - BasicTrading
TVC:SPXShort
by basictradingtv
8
Gold Just Left me behind... AGAIN! Here's How you can Avoid This1. Daily Trendline Description: The yellow trendline running across the chart represents the overall upward trend on the daily timeframe. It shows that despite the recent fluctuations, the long-term trend has been bullish. Significance: This trendline serves as a dynamic support level. Traders often look for price action around this trendline to gauge the strength of the ongoing trend. A break below this trendline could signal a potential reversal or a stronger bearish movement. 2. Ascending Channel Larger Ascending Channel: Description: This channel is characterized by two parallel lines (yellow) sloping upwards. The price has been moving within this channel for a considerable period. Significance: The upper boundary acts as resistance, while the lower boundary serves as support. The price breaking below the lower boundary can indicate the end of the bullish trend and the beginning of a bearish trend. Smaller Ascending Channel: Description: A smaller channel within the larger context, indicating a shorter-term upward movement. Significance: The break below this smaller channel, as shown on the chart, signifies a potential reversal or correction within the larger trend. 3. Support/Resistance Description: Horizontal lines marked as support and resistance represent key price levels where the price has historically faced buying or selling pressure. Significance: These levels are crucial for identifying potential entry and exit points. The support level acts as a floor where buying interest is strong enough to prevent the price from falling further. Conversely, the resistance level acts as a ceiling where selling interest prevents the price from rising further. 4. Higher High (HH) and Lower High (LH) HH (Higher High): Description: A peak higher than the previous peak, indicating the continuation of an uptrend. Significance: The formation of a higher high typically signals bullish momentum. However, in this case, the subsequent failure to maintain this level and the formation of a lower high (LH) suggests weakening bullish strength. LH (Lower High): Description: A peak lower than the previous peak, indicating potential trend reversal. Significance: The lower high after a higher high is a bearish signal, suggesting that buyers are losing control and sellers are gaining strength. 5. 15M/5M Bear Flag Entry Description: A bear flag pattern on the 15-minute and 5-minute timeframes is highlighted. This pattern consists of a sharp decline followed by a short consolidation in the form of an upward-sloping channel (flag). Significance: The bear flag is a continuation pattern, indicating that after a brief consolidation, the price is likely to continue its downward movement. The breakout from this flag pattern provides a potential entry point for short positions. 6. Target Profit Levels (TP 1 and Daily LQZ/TP 2) TP 1 (2,347.560): Description: The first target profit level is set at 2,347.560. Significance: This level is likely determined based on historical support levels or a measured move from the recent price action. Traders might look to take partial profits or exit their positions at this level. Daily LQZ/TP 2 (2,265.195): Description: The second target profit level is set at 2,265.195, which aligns with the daily liquidity zone. Significance: This is a more ambitious target, potentially indicating a stronger bearish move. The liquidity zone suggests an area with significant trading volume, which could act as a magnet for the price. Conclusion The chart presents a comprehensive analysis of the XAUUSD (Gold Spot) with multiple technical indicators suggesting a potential bearish outlook. The breakdown from the ascending channels, the formation of a lower high, and the bear flag pattern all point towards a continuation of the downward trend. The identified support and resistance levels, along with the target profit zones, provide clear benchmarks for managing trades.
OANDA:XAUUSDShort
by Adlercon333
Dogecoin - The pump is so clear!CRYPTO:DOGEUSD is looking so bullish, Cycles, breakouts, sentiment and market structure. Dogecoin is combining all four of these bullish aspects and is preparing for a major move higher. After Dogecoin finally broke out of the triangle a couple of months ago, we already saw a rally of +250%. This is simply the starting of the next major crypto bullrun which will pump the entire altcoin market, especially Dogecoin! Levels to watch: $0.117 Keep your long term vision, Philip - BasicTrading
CRYPTO:DOGEUSDLong
by basictradingtv
14
Gold at Crossroads: Breakout or Breakdown? Dont Miss It!Technical Breakdown for XAUUSD Impulsive Move and Correction: The price made an impulsive move upwards, indicating strong bullish momentum initially. After reaching the peak, the price began to form a correction pattern, which typically suggests that the trend might continue in the same direction after the correction is complete. Descending Channel: Within the correction, a descending channel formed. This pattern often indicates that once the correction is over, the price may break out in the direction of the original move (downwards in this case). Liquidity Zones (LQZ): 1HR LQZ / Reversal: The current price is around the 1-hour Liquidity Zone, a critical area where buyers or sellers are likely to step in, potentially causing a reversal or significant price movement. 4HR LQZ: A longer-term liquidity zone that acts as a strong support level, where price may react and change direction. Daily LQZ: Another significant support level on a daily timeframe that can influence long-term price movements. Key Observations: Lower High (LH): The chart shows a lower high, suggesting a potential bearish trend continuation. Correction Pattern: The price forming a correction pattern within the descending channel indicates that traders should watch for a potential breakout, likely to continue the downtrend. Trading Insights: Trend Continuation: The correction pattern within the descending channel suggests a possible continuation of the downtrend. Traders might look for breakout signals below the channel to confirm this move. Reversal Potential: If the price holds at the 1HR LQZ or breaks above the descending channel, it could signal a bullish reversal, providing an opportunity for upward trades. Key Levels to Monitor: 1HR LQZ: Watch for price reactions around this level for potential short-term trading opportunities. 4HR and Daily LQZ: These levels are crucial for identifying long-term support and resistance, offering potential entry and exit points based on how the price interacts with them. Summary Understanding impulsive moves, correction patterns, and liquidity zones can significantly enhance your trading strategy. By observing how price reacts at these key levels and patterns, you can make more informed trading decisions. Watch for breakout signals from the correction pattern and monitor the liquidity zones for significant price reactions to identify potential trading opportunities.
OANDA:XAUUSDShort
by Adlercon333
2
Unlocking XAUUSD Secrets: Prepare for Gold's Next Big Move!Technical Breakdown of XAUUSD Correctively Reached HTF Structure: The price has reached a higher time frame (HTF) structure through a corrective movement. This structure serves as a significant resistance level observed on higher time frames. Impulsively Got Here: Following the corrective phase, the price made an impulsive move upward, indicating strong buying momentum at that point. Forming Correction: After the impulsive move, the price is forming a correction pattern, typically signaling a potential continuation of the previous trend. This pattern is evident as a descending channel or flag formation. Support and Resistance Levels: Resistance at 2,412.678: A significant resistance level that the price tested but did not break through decisively. Support at 1HR LQZ (2,391.555): A key support level on the 1-hour chart where the price found temporary stability. Support at 4HR LQZ (2,348.039): A more substantial support level on the 4-hour chart, providing a strong base for potential reversals. Descending Channel Formation: The price is currently trading within a descending channel. This pattern often suggests a continuation of the prevailing trend upon a breakout. Key Level Highlight: Break Back Above Lower High (LH): The chart notes that a break back above the identified lower high (LH) would indicate a further pullback. This level is crucial as it may signal a change in short-term momentum. Potential Scenarios: Bullish Scenario: Breakout Above Descending Channel and LH Level: If the price breaks out above the descending channel and the LH level, it may indicate a further pullback and continuation of the upward trend. The price is likely to test the resistance zone near 2,412.678 and could move higher if it breaks through this zone. Bearish Scenario: Failure to Break Above LH Level: If the price fails to break above the LH level and descends further, it may indicate a continuation of the bearish trend. The price could test the 1HR LQZ support level first and potentially move down to the 4HR LQZ support level if bearish momentum continues. Consolidation and Patterns: The chart suggests that the price is currently consolidating within a tight range, indicating indecision. This could lead to a significant move upon breakout from this consolidation pattern. Conclusion: Monitoring the breakout direction from the current descending channel and the reaction to the LH level will provide valuable insights for potential trading opportunities. Key levels to watch include the 2,412.678 resistance zone and the 1HR and 4HR LQZ support levels. A breakout above the descending channel would favor a bullish scenario, while a failure to break above the LH level could suggest continued bearish pressure.
OANDA:XAUUSDShort
by Adlercon333
Gold’s Next Big Move: Critical Levels You Can’t Afford to Miss!Hey Traders, welcome back to my channel! 🚀 Today, we're diving deep into the latest XAUUSD analysis, and trust me, you don't want to miss this one. With gold prices poised for a significant move, understanding these key levels could make all the difference in your trading strategy. Let's get started with the 1-hour chart (shown below). 📊 Chart 1: XAUUSD 1-Hour Time Frame Analysis (July 21, 2024) Key Observations: Daily Bull Flag Formation: The chart highlights a daily bull flag pattern, which indicates a continuation pattern following a strong uptrend. On the daily TF sometimes this can take a bit longer to see due to how big this flag is on the (LTF) The price has been consolidating within this flag formation. Reversal Structure (Lower High - LH): There is a reversal structure where the price made a lower high (LH), suggesting a potential bearish reversal in the short term. Structure LTF (Lower Time Frame): The price structure on the lower time frame indicates an area where price could pull back and reject off of this area indicating the continuation of the Overall move. The second way this could play off of this area is we could get a clear impulsive move above this structure and then a rejection looking for higher moves in the Shorter Time Frame. 15-Minute Time Frame: The 15-minute time frame shows a detailed view of the consolidation and break down from the flag formation. where you could see how close we are to the LQZ shown on the 1HR 1HR Liquidity Zone (LQZ): Identified at 2,390.966, this zone may act as a significant support area and also our first Take Profit we gave last week. 4HR Liquidity Zone: Marked at 2,349.179, another major support area that aligns with the daily LQZ. If price end up breaking the 1HR LQZ impulsively then we could look for this area as Take Profit and then once we get down to this area we could potentially see a pullback. Daily LQZ: The daily liquidity zone is at 2,286.809, a crucial support level for the longer-term perspective. Recommendations: Watch for Reactions at Support Levels: Monitor the price action around the 1HR, 4HR, and daily LQZs for potential entry points. Set Alerts: Set alerts for breakouts above the recent highs and breakdowns below the key support levels. Manage Risk: Ensure proper risk management by setting stop-losses below support levels and taking profits at resistance levels.
OANDA:XAUUSD
by Adlercon333
Will Gold Soar or Plummet? Key Insights You Need!Chart 1: XAUUSD 15-Minute Chart (July 19, 2024) Key Levels: Support: The chart shows a key support level around 2,415, highlighted by the blue horizontal line. Resistance: There is a resistance level near 2,457.920, labeled as "5M LQZ." Patterns: Descending Triangle: A descending triangle pattern is forming, which is typically a bearish continuation pattern. Breakout Scenarios: The chart indicates two potential scenarios: Bullish Breakout: If the price breaks above the descending triangle and the 2,420-2,425 resistance zone, it could move upwards towards the next resistance. Bearish Breakout: If the price breaks below the support level around 2,415, it could head towards the lower support at 2,391.394 (4HR LQZ / TP 1). Price Action: Current Position: The price is currently consolidating near the support level. Volume: Volume is relatively low, indicating a potential buildup for a significant move. Chart 2: XAUUSD 1-Hour Chart (July 18, 2024) Key Levels: Reversal Point: There is a significant level at 2,429.420, marked as the "1HR LQZ / Reversal Point." Support Levels: Multiple support levels are indicated at: 2,391.394 (4HR LQZ / TP 1) 2,349.046 (TP 2) 2,288.085 (TP 3) 2,265.369 (TP 4) Patterns: Higher High (HH): The chart shows a higher high formation, indicating a potential uptrend. Possible Reversal: The price is approaching the 1HR LQZ / Reversal Point, suggesting a possible reversal or continuation of the trend. Price Action: Current Position: The price is currently pulling back from the higher high, testing the reversal point. Trend: The overall trend appears to be bullish, with higher highs and higher lows. Combined Analysis: Short-Term Outlook (15-Minute Chart): Watch for a breakout from the descending triangle. A break above the 2,425 resistance could signal a bullish move, while a break below 2,415 support could lead to further downside. Medium-Term Outlook (1-Hour Chart): The 1-hour chart suggests a bullish trend with key support levels to watch. If the price holds above the 1HR LQZ / Reversal Point (2,429.420), it could continue its upward momentum. Conversely, a break below this level may indicate a deeper correction towards the lower support levels. Trading Strategy: For Bullish Scenario: Enter a long position if the price breaks above 2,425 with strong volume. Target the next resistance levels around 2,457.920 and beyond. Set a stop-loss just below the 2,415 support level. For Bearish Scenario: Enter a short position if the price breaks below 2,415. Target the support levels at 2,391.394, 2,349.046, and 2,288.085. Set a stop-loss just above the 2,425 resistance level.
OANDA:XAUUSD
by Adlercon333
3
Gold Set to Plunge? Key Reversal Point Signals Major Downtrend!4-Hour Chart Analysis Trend Identification: Higher Highs (HH): The chart shows a consistent formation of higher highs (HH) which indicates an overall uptrend. Higher Lows (HL): The chart also demonstrates higher lows (HL), further confirming the uptrend. Key Levels: Resistance Levels: Around 2,480 and above are marked by HH. Support Levels: 2,429.42 (1HR LQZ / Reversal Point) 2,391.39 (4HR LQZ / TP 1) 2,349.05 (TP 2) 2,288.09 (TP 3) 2,265.37 (TP 4) Price Action: Triangle Pattern: A triangle pattern formed in June indicating consolidation before a breakout. Current Movement: The price has moved up to a higher high but is currently in a retracement phase, testing the 1HR LQZ / Reversal Point around 2,429.42. Projection: Potential Reversal: If the price holds above the 1HR LQZ / Reversal Point, it may indicate a reversal back towards the higher levels around 2,480. Support Tests: Failure to hold may lead to testing lower support levels at 2,391.39 (4HR LQZ / TP 1) and potentially further down to TP 2, TP 3, and TP 4. 1-Hour Chart Analysis Detailed View: Provides a closer look at the recent price movements. Confirms the higher highs observed in the 4-hour chart. Key Observations: Recent High: The price recently reached a new high around 2,480 before retracing. Immediate Support: The price is testing the 1HR LQZ / Reversal Point around 2,429.42, aligning with the 4-hour chart observations. Trading Opportunities: Long Position: If the price shows strong bullish signals and holds above the 1HR LQZ / Reversal Point. Short Position: If the price breaks below the 1HR LQZ / Reversal Point, with targets at lower support levels identified in the 4-hour chart. Summary The charts indicate an overall uptrend with recent higher highs and higher lows. Current price action is in a retracement phase, testing key support levels. Monitoring the 1HR LQZ / Reversal Point will be crucial for determining the next move, whether it will resume the uptrend or test further support levels.
OANDA:XAUUSDShort
by Adlercon333
3
Gold's Next Big Move: Is This the Reversal Point?4-Hour Chart Analysis Trend Identification: Higher Highs (HH): The chart shows a consistent formation of higher highs (HH) which indicates an overall uptrend. Higher Lows (HL): The chart also demonstrates higher lows (HL), further confirming the uptrend. Key Levels: Resistance Levels: Around 2,480 and above are marked by HH. Support Levels: 2,429.42 (1HR LQZ / Reversal Point) 2,391.39 (4HR LQZ / TP 1) 2,349.05 (TP 2) 2,288.09 (TP 3) 2,265.37 (TP 4) Price Action: Triangle Pattern: A triangle pattern formed in June indicating consolidation before a breakout. Current Movement: The price has moved up to a higher high but is currently in a retracement phase, testing the 1HR LQZ / Reversal Point around 2,429.42. Projection: Potential Reversal: If the price holds above the 1HR LQZ / Reversal Point, it may indicate a reversal back towards the higher levels around 2,480. Support Tests: Failure to hold may lead to testing lower support levels at 2,391.39 (4HR LQZ / TP 1) and potentially further down to TP 2, TP 3, and TP 4. 1-Hour Chart Analysis Detailed View: Provides a closer look at the recent price movements. Confirms the higher highs observed in the 4-hour chart. Key Observations: Recent High: The price recently reached a new high around 2,480 before retracing. Immediate Support: The price is testing the 1HR LQZ / Reversal Point around 2,429.42, aligning with the 4-hour chart observations. Trading Opportunities: Long Position: If the price shows strong bullish signals and holds above the 1HR LQZ / Reversal Point. Short Position: If the price breaks below the 1HR LQZ / Reversal Point, with targets at lower support levels identified in the 4-hour chart. Summary The charts indicate an overall uptrend with recent higher highs and higher lows. Current price action is in a retracement phase, testing key support levels. Monitoring the 1HR LQZ / Reversal Point will be crucial for determining the next move, whether it will resume the uptrend or test further support levels. If you need further analysis or specific trade recommendations, feel free to ask!
COMEX:HG1!Short
by Adlercon333
Gold Trading Alert: Major Move on XAUUSD – Don't Miss Out!Key Levels and Patterns: Higher Highs (HH) and Higher Lows (HL): The chart shows a series of higher highs (HH) and higher lows (HL), indicating an overall uptrend. This pattern suggests that the bullish momentum is still in play. Ascending Channel: There is a well-defined ascending channel where the price has been moving upwards within parallel trendlines. This channel can act as a guide for potential support and resistance levels. Reversal Points (LQZ): 1-Hour LQZ / Reversal Point: Located at 2,429.190. This level is a potential area where price may reverse or find support. 4-Hour LQZ / Reversal Point: Located at 2,391.394. This level also serves as a significant support zone. Take Profit (TP) Levels: TP 1: 2,319.385 TP 2: 2,288.085 TP 3: 2,265.369 Recent Price Action: The price recently reached a higher high at around 2,458.755 and then pulled back slightly, indicating a potential short-term correction within the overall uptrend. The ascending channel suggests that if the price remains above the lower boundary of the channel, the uptrend is likely to continue. If the price breaks below the 1-hour LQZ / Reversal Point at 2,429.190, it could test the 4-hour LQZ / Reversal Point at 2,391.394. A further breakdown below this level might lead to the next support at TP 1. Analysis Summary: Bullish Scenario: The price could bounce from the current levels or the lower boundary of the ascending channel, aiming for new highs. Traders might look for buying opportunities near the support levels of the channel and reversal points. Bearish Scenario: If the price breaks below the identified reversal points and the ascending channel, it might signal a deeper correction, potentially heading towards the TP levels for possible buying opportunities at lower prices.
OANDA:XAUUSD
by Adlercon333
Unlock the Secrets of Gold Trading: Pericles' Ancient WisdomIn this video, we explore the profound perspectives on fear from historical figures like Pericles and modern thinkers like Ryan Holiday. Pericles, the esteemed Athenian statesman, saw fear as a natural emotion that should not paralyze us. He believed in confronting fear with courage, rational thought, and strategic planning, using it as a tool for effective decision-making. Ryan Holiday, drawing on Stoic philosophy in his works, echoes these sentiments with stories of historical figures who turned fear into fuel for success. He recounts how John D. Rockefeller faced market crashes with calm calculation and how Theodore Roosevelt overcame health challenges by embracing adversity. Both Pericles and Holiday teach us that fear, when managed correctly, can become a powerful ally. By acknowledging fear, confronting it with rationality and courage, and using it to sharpen our focus and strategy, we can transform challenges into opportunities for growth and success. This approach is especially relevant in the realm of trading, where mastering fear can lead to better decision-making and greater resilience. Key Levels and Patterns: Higher Highs (HH) and Higher Lows (HL): The chart shows a series of higher highs (HH) and higher lows (HL), indicating an overall uptrend. This pattern suggests that the bullish momentum is still in play. Ascending Channel: There is a well-defined ascending channel where the price has been moving upwards within parallel trendlines. This channel can act as a guide for potential support and resistance levels. Reversal Points (LQZ): 1-Hour LQZ / Reversal Point: Located at 2,429.190. This level is a potential area where price may reverse or find support. 4-Hour LQZ / Reversal Point: Located at 2,391.394. This level also serves as a significant support zone. Take Profit (TP) Levels: TP 1: 2,319.385 TP 2: 2,288.085 TP 3: 2,265.369 Recent Price Action: The price recently reached a higher high at around 2,458.755 and then pulled back slightly, indicating a potential short-term correction within the overall uptrend. The ascending channel suggests that if the price remains above the lower boundary of the channel, the uptrend is likely to continue. If the price breaks below the 1-hour LQZ / Reversal Point at 2,429.190, it could test the 4-hour LQZ / Reversal Point at 2,391.394. A further breakdown below this level might lead to the next support at TP 1. Analysis Summary: Bullish Scenario: The price could bounce from the current levels or the lower boundary of the ascending channel, aiming for new highs. Traders might look for buying opportunities near the support levels of the channel and reversal points. Bearish Scenario: If the price breaks below the identified reversal points and the ascending channel, it might signal a deeper correction, potentially heading towards the TP levels for possible buying opportunities at lower prices. By applying Pericles' wisdom of confronting fear with rationality and Ryan Holiday's insights on turning fear into strategic advantage, traders can approach these levels with a clear, disciplined mindset, making informed decisions even in volatile market conditions.
OANDA:XAUUSDEducation
by Adlercon333
2
Gold Price Set to Explode? Must-See Analysis Inside! [Update]Trade Update: XAUUSD Analysis Date: July 17, 2024 In our previous post and video, we discussed how to approach XAUUSD given the current market conditions. Let's dive into the latest developments and analyze the chart for further insights. Key Observations: Break Above HTF Trendline: We observed a significant break above the Higher Time Frame (HTF) trendline. This move indicates a strong bullish momentum, suggesting that buyers are in control. After the breakout, the price pushed back into the structure, which is a common retracement behavior. This retracement offers a potential entry point for those looking to capitalize on the upward momentum. Support Zone Tested on LTF: The price action tested a support zone on the Lower Time Frame (LTF). This support zone held well, providing a solid foundation for the next leg up. This test reinforces the strength of the support level and can be seen as a bullish signal. Current Market Conditions: Currently, XAUUSD is displaying a textbook play back into an area where we might see signs of either reversal or continuation. Traders should watch for key signals at this level to determine the next move. A strong bullish reaction could indicate continuation, while a bearish signal might suggest a potential reversal. Liquidity Zones and Reversal Points: The chart highlights two significant liquidity zones (LQZ) and potential reversal points: 1HR LQZ/Reversal at 2429.940 4HR LQZ/Reversal at 2391.394 These zones are critical levels to monitor as they can provide valuable insights into market sentiment and potential turning points. Conclusion: As the price approaches these key levels, traders should remain vigilant for confirmation signals. If the price respects the support zone and breaks higher, it could provide a good opportunity for a long position. Conversely, if the price shows signs of weakness, it might be prudent to consider short positions or wait for further confirmation before making a move. Stay Updated: We will continue to monitor the price action closely and provide updates as the situation evolves.
OANDA:XAUUSD
by Adlercon333
3
DXY at Critical Support! Massive Move Ahead! Technical Analysis Overview of DXY (U.S. Dollar Index) on 4-Hour Time Frame: Crucial Structure Point: The DXY is currently at a significant structural level, which could determine its next major move. Key Levels: Weekly LQZ: 108.007 Daily LQZ: 106.524 Daily LQZ: 101.908 Missed LQZ: 100.552 Current Price Action: The price is hovering around 104.283, a critical support zone. The market's reaction at this level will likely dictate the next direction. Potential Scenarios: Yellow Path (Primary Bias): Indicates a potential bearish scenario where the price might break below the current support level and head towards the Daily LQZ at 101.908 or even the Missed LQZ at 100.552. This path suggests a significant downward movement. Green Path: Represents a bullish scenario where the price could bounce off the current support and rise towards the Daily LQZ at 106.524 or even the Weekly LQZ at 108.007. This path suggests a recovery and continuation of the upward trend. Orange Path: Another bearish possibility where the price might initially fake out upwards but eventually break downwards, aligning with the yellow path. Market Sentiment: The annotations indicate that while the yellow path is favored, it is essential to remain adaptable as "anything can happen" in the market. This emphasizes the importance of not reacting impulsively but rather anticipating and preparing for different scenarios. Summary: Current Trend: The DXY is at a critical juncture, and its next move could be pivotal. Bearish Bias: The yellow path suggests a potential for further downside, targeting lower key levels. Bullish Recovery: The green path offers a possible recovery scenario, aiming for higher resistance levels. Strategy: Traders should monitor the price action closely around the current support level at 104.283. Look for confirmation before entering trades, and be prepared for both bullish and bearish outcomes.
TVC:DXY
by Adlercon333
Gold Hits Record Highs! Skyrocket Further or Sharp Reversal?4-Hour Time Frame Analysis: Higher Highs (HH) and Higher Lows (HL): The chart displays a clear upward trend with higher highs and higher lows. This indicates a bullish market structure. Ascending Channel: The price is moving within an ascending channel, showing a steady increase in value. Key Levels: 1-Hour LQZ / Reversal: 2429.940 4-Hour LQZ / Reversal Point: 2391.394 Potential Take Profit (TP) Levels: TP 1: 2319.385 TP 2: 2288.085 TP 3: 2267.832 Current Price Action: The price has reached the upper boundary of the ascending channel, suggesting a potential reversal or breakout. Traders should watch for confirmation before taking action. 1-Hour Time Frame Analysis: Higher High (HH): Similar to the 4-hour chart, the 1-hour chart also shows a higher high, indicating a bullish trend continuation. Ascending Channel: The price is respecting the ascending channel, reinforcing the bullish sentiment. Key Levels: 1-Hour LQZ / Reversal: 2429.940 4-Hour LQZ / Reversal Point: 2391.394 Current Price Action: The price is at the top of the ascending channel. Traders should look for signs of a reversal or a breakout above this level to gauge further price movements. 15-Minute Time Frame Analysis: Ascending Channel: The 15-minute chart shows a detailed view of the ascending channel with the price closely following this structure. Key Levels: 1-Hour LQZ / Reversal: 2429.940 4-Hour LQZ / Reversal Point: 2391.394 Current Price Action: The price is currently at the top of the channel, suggesting a potential short-term reversal or continuation depending on the breakout direction. Summary: Bullish Trend: All three time frames show a clear bullish trend with higher highs and higher lows. Ascending Channel: The price is moving within an ascending channel on all time frames, which supports the bullish outlook. Key Reversal Zones: Pay attention to the 1-hour and 4-hour LQZ / Reversal points at 2429.940 and 2391.394 respectively. Potential Reversal: The price is currently at the upper boundary of the ascending channel on all time frames. This indicates a potential reversal if the price fails to break out. Traders should wait for confirmation before entering trades..
OANDA:XAUUSD
by Adlercon333
29
Unlock the Secrets: Is GOLD the Ultimate Trade Today?Unlock the Secrets: Is GOLD the Ultimate Trade Today? In this episode, I dive into the current conditions of the gold market, providing a comprehensive breakdown on how to form an objective opinion. Drawing inspiration from "Market Wizards" and "Trading in the Zone," I share insights from legendary traders who emphasize the importance of patience and discipline in trading. Learn essential lessons on patience, understanding that you don't need to force trades or impose your personal bias on the market. Discover why it's perfectly fine to skip trades daily or even weekly if the market doesn't align with your setup. Mark Douglas, in "Trading in the Zone," highlights the significance of a trader's mindset and how maintaining an objective perspective is crucial for consistent success. I also share valuable advice on productive activities to engage in while waiting for the right trade opportunities. Just as the great traders in "Market Wizards" stress, sometimes the best trade is no trade at all. Use this time to refine your strategies, study market patterns, and enhance your trading skills. Remember, running in place won't get you anywhere—focus on strategic moves to elevate your trading game. By incorporating these principles and understanding the psychological aspects of trading, you'll be better equipped to navigate the complexities of the gold market.
OANDA:XAUUSD
by Adlercon333
1