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#202434 - priceactiontds - weekly update - goldGood Evening and I hope you are well. Quote from last week: comment: Easy analysis. We are 4 points above last weeks close. We are in a triangle and exactly at the midpoint, again. Market is as neutral as it gets. Don’t make this more complicated than it needs to be. Either buy low and sell high inside given range or wait for a breakout. comment: Bulls got a new ath but the highest monthly close so far was 2473 and there is no reason to expect a huge breakout above 2550 with follow through. If it happens, hopp along but odds favor the bears for another reversal like so many times in the last 4 months. No matter how you interpret the patterns on the chart, all favor a reversal and betting on a breakout after 4 months of trading range price action is a losing strategy in the long run. I am neutral and wait for bears to show strength but will join the bulls on a strong breakout above 2550. current market cycle: trading range for many months now and it’s probably coming to an end over the next weeks/months —unchanged key levels: 2400 - 2550 bull case: Bulls printed a new ath. They finally want their breakout above and much higher prices. All patterns are against them and the odds obviously also. I would not look for longs above 2500. If they could break above 2550 and any pullback would stay above 2530, their chances of another leg up would be decent. Invalidation is below 2550. bear case: Bears see the trading range since April and the nested bull wedge on lower time frames and want a reversal down to at least 2430 again. They absolutely need to close this month below 2500 or the breakout above could actually happen and market would have to find new resistance, which could be much much higher than 2550. As of now market is almost making only perfect two legged moves inside the trading range and bulls just had their second. Market favors a reversal if bears come around on Monday. Invalidation is above 2550. outlook last week: short term: Neutral around 2475. Will only scalp this on momentum inside the triangle but swing will have to wait for a bigger breakout above or below. Want to see 2500 to look for shorts again. → Last Sunday we traded 2473 and now we are at 2537. Neutral outlook. short term: Neutral until bears come around or strong break above 2550. If bears build good selling pressure, I want a retest of 2500 first and lower i look for 2470. medium-long term: For now I think the most reasonable outlook I could give is a trading range 2200-2500. This could hold for some time. Bear in my still thinks this rally is moronic and we will see 2000 again this year but that’s as unreasonable of an outlook one could hold so don’t. —unchanged since May current swing trade: None. chart update: Removed the bear trend line.
COMEX_MINI:MGC1!
by priceactiontds
#202434 - priceactiontds - weekly update - sp500Good Evening and I hope you are well. Quote from last week: comment: Market got to 5100 way faster than I expected but it was climactic selling and a pullback was expected. Not much difference in reasoning compared to dax and the same would apply to the nasdaq. Market is trying to find the big sellers again and we are probing higher. We will most likely hit the daily 20ema soon, which is around 5440 and that is also around the July low and therefore a breakout retest. After the 2 bull bars from Thursday & Friday, I do think the odds of disappointment for the bulls is greater than another bull bar on Monday. comment: Not much difference to dax, just that this market was a tat stronger even. Bulls almost reversed completely but 7 consecutive bull bars is as climactic as it gets. A pullback is due but that does not mean you can short it at 5578. Could go further since the obvious pain trade is up. current market cycle: Trading range. key levels: 5000-5700 bull case: From panic to euphoria. Good times. Bulls want a close of the bear gap to 5650 now and if they manage that, no reason we can’t print a new ath. More likely though is that we stay below 5600 and go much more sideways and wait for a new impulse. Invalidation is below 5400. bear case: Bears are gone it seems. Best they can hope for now is to stay below 5600 and make the market go sideways. If big sellers appear again, first target would be 5500 and then a close below daily ema but that is very low probability as of now. No bigger update this week since parallels to dax are big and I do think it’s best to be neutral here and wait for a pullback and see where that goes. Invalidation is above 5650. outlook last week: short term: Full bear mode if we stay below the daily ema. Retest of the lows is higher probability than breaking above the daily ema. I gave clear key levels, mark them and watch what the market does when it gets there. → Last Sunday we traded 5370 and now we are at 5578. My upper targets were 5450 and bulls just melted it. Part of outlook was ok because you don’t get bearish at climactic selling lows but this reversal is not anything that is likely to happen after such selling. short term: Neutral af. Want to see a pullback and also how market reacts to 5600. medium-long term: Same as dax. I wait and let market give more info. Right now it’s max confusion. current swing trade: None. chart update: Removed all but the small bear gap.
CME_MINI:MES1!
by priceactiontds
#202434 - priceactiontds - weekly updateGood Evening and I hope you are well. Quote from last week: comment : Above pretty much described exactly what happened last week and for now all my bearish targets are met. I still expect another test of the lows. These tests can be higher,lower or pretty much the same. You never ever know in advance and you have to trade it as it comes. After that retest we will likely see another pullback to the 20ema or previous pullback highs (right now 17862) and more sideways movement inside the current range. It’s always an obvious pattern that we get another strong leg in the trend direction, when the daily 20ema is close enough or we hit it 1-3 times. Going into next week I am absolutely neutral and I think 17700-17900 is a dead zone for trading. Want to see strong momentum in either direction for me to scalp. comment: Breaking above the wedge bear flag after a -8% move is a low probability event but that’s what happened. Bulls are under the most recent bear trend line starting mid July and there is no reason why this should hold when all other technical resistance prices did not hold in the last 2 weeks. It sure looks like a cup where the handle is missing but after such wild moves, I will only ever be neutral and take the market hour by hour. current market cycle: Big nope of that bear trend take last week. Trading range price action with a big range. key levels: 17000 - 19000 bull case: Last Sunday I wrote about mostly overlapping bars for the bulls and since Thursday they left no doubt that this was not the start of the bear trend. Huge bull breakout above the previous bear gap to 18200 and they are not right at the minor bear trend line from mid July. If bulls are really strong, they can get a third push up and maybe a measured move from Thu/Fri which would bring us to 18800ish. The buying is climactic though and a pullback is expected over the next 1-2 days. Best for bulls would be if they would stay above 18000 and the daily ema/bull trend line. Invalidation is below 17900. bear case: 18000 was my target last week where we should reverse at latest and bulls just melted through it to 18400. Most traders knew the selling down to 17100 was climactic and a pullback was expected but most markets almost reversed all of it and dax is also on it’s way. Where does this leave the bears? Humbled to say the least. They are focussing on the two bear trend lines above us at 18430 and the big one from the ath at 18650. So my preferred path forward would look like the drawn bullish 5 wave series where we can expect some pullback over the next 1-2 days and a potential W5 to 18650 or higher but it is very possible that we stay below 18500 and trade back down. Invalidation is above 18450. outlook last week: short term: Full bear mode. Pullback has two sided trading and I think a test below 17500 comes before 18000 but after a low, we should see another try from the bulls to print 18000 again or touch the daily 20ema. At which I will load up on shorts again, if we see bear strength. → Well, at least I wrote multiple times that a pullback could get to 18000 but since the bulls were just too strong on Thursday, I did not look for shorts as written last Sunday. Part of my outlook was ok but overall bearish reading was obviously as wrong as can be. short term: Absolutely neutral. Big up, big down, big confusion. medium-long term: Bearishness from the last weeks was wrong. Need to see price action this and maybe the week after to take another shot of an medium term outlook. Long term is still maximum bearishness but that does not help with trading because an early trade is a wrong trade. current swing trade: Nope. chart update: Removed the bear gap, wedge bear flag and added a potential 5 wave series and an alternative two legged correction.
EUREX:FDXSU2024
by priceactiontds
GBPUSD analysis week 34Fundamental Analysis The British pound (GBP) outperformed its major peers in New York trading on Friday. The British currency gained significantly as the UK Office for National Statistics (ONS) reported that retail sales rebounded in July, as expected, after a sharp decline in June. Retail sales are a key gauge of consumer spending. Strong consumer demand tends to drive inflationary pressures in the economy, so the data could dampen expectations that the Bank of England (BoE) will opt to cut interest rates again in September. The BoE's next monetary policy meeting in September could also be a tough call. UK service sector inflation fell sharply in July as wage growth slowed. However, the latest labor market data also showed a surprising drop in the Unemployment Rate and the economy is clearly on the path of expansion. Technical Analysis GBPUSD continues to trade in an ascending channel with the nearest support and resistance in the price range at 1.286 and 1.300 after posting a strong gain on Friday. On the H4 timeframe, the EMA 34 has crossed well above the EMA 89, indicating a strong bullish market structure, with the upside momentum heading towards last month’s high resistance around 1.304. On the other hand, any daily close below the 1.286 support would not confirm a bearish reversal. The pair needs to break the support level of 1.280 to really break the bullish structure on the current chart. RSI reaches the overbought level, indicating that the bullish momentum will continue in the early days of next week Resistance: 1.300-1.304 Support: 1.286-1.280 Trading signal SELL GBPUSD 1.303-1.305 SL 1.307 BUY GBPUSD 1.287-1.285 SL 1.283
by TVS-Trader
Bitcoin must make these 2 key moves !As we can see on the chart, the price remains stuck in the inefficiency zone, showing a lot of liquidity since last week. Over the past two days, the price has resumed an upward trend, but it is still moving a bit slowly in the inefficiency zone. #1 In this analysis, I want you to see that liquidity has decreased daily since last week, leading me to believe that Bitcoin could gain strength at any moment and break through my white trendline. This would be the first move I’m looking for to confirm that Bitcoin is ready for an uptrend. (Buying pressure) #2 Once the price breaks through my white trendline, I expect the price to reach this green order block and reject at the confirmation zone. this rejection is a key point, However, it is precisely at this point that after the rejection, Bitcoin could gain momentum to break through the green order block and thus confirm its bullish trend. Let's see what happens this week. In the meantime, buckle up because it’s going to be a very volatile week due to the scheduled economic news. Best regards, and thank you for supporting my analysis.
COINBASE:BTCUSDLong
by RocketMike111
GBPUSD 1.27571 0.07% LONG IDEA MUTLI TF ANALYSISHELLO TRADERS Hope everyone is doing great 📌 A look at The CABLE from HTF - MULTI TIME-FRAME ANALYSIS GBPUSD DAILY TF * We've had a week that opened bearish with Thursday & Friday coming with some bullish momentum. * The weekly & daily TF show we are still showing signs of a bearish move. * But seems we may see a reversal before continuation with the bears with the CISD On the D. * GBPUSD took External range LQ , looking for that internal range LQ to be taken(W FVG). * We are trading in discount of the move,This is where I would be looking for long entries. * With PO3 looking to open bearish this week to confirm a move higher into premium PD ARRAYS. GBPUSD 4H TF * Looking for the week to open Bearish into the 4h -BB because our HTF BIAS (PO3) Is bullish . * WEEK open I will probably be looking for long positions OPPORTUNITIES. * We will see what does the market dish. * 4H lookin for a push into the +BB (po3) to sell intraday . GBPUSD 1H TF * We saw a rally with the bulls, strong momentum to the upside ON the 1H. * Looking at the 1H -OB, this is where I would look for LONG entries this week. * Should this PD ARRAY hold will be Short for the GBPUSD. * BASED on the price action served this week. HOPE YOU ENJOYED THIS OUT LOOK, SHARE YOUR PLAN BELOW,🚀 & LETS TAKE SOME WINS THIS WEEK. SEE YOU ON THE CHARTS. IF THIS IDEA ASSISTS IN ANY WAY OR IF YOU ENJOYED THIS ONE SMASH THAT 🚀 & LEAVE A COMMENT. ALWAYS APPRECIATED ____________________________________________________________________________________________________________________ Kindly follow your entry rules on entries & stops. |* Some of The idea's may be predictive yet are not financial advice or signals. | *Trading plans can change at anytime reactive to the market. | * Many stars must align with the plan before executing the trade, kindly follow your rules & RISK MANAGEMENT. _____________________________________________________________________________________________________________________ | * ENTRY & SL -KINDLY FOLLOW YOUR RULES | * RISK-MANAGEMENT | *PERIOD - I TAKE MY TRADES ON A INTRA DAY SESSIONS BASIS THIS IS NOT FINACIAL ADVICE TO EXCECUTE ❤ LOVELY TRADING WEEK TO YOU!
Long
by PULEMokhothu
8
2024-08-14 - priceactiontds - daily update - daxGood Evening and I hope you are well. comment What a time to be alive. Panic selling and now panic buying. Many markets are close to completely reversing the move from last week and Monday. For bulls to just slice through the bear trend line and every technical resistance there was, is something you will not see often on a daily chart. You can’t be anything but max bullish, since every small dip is bought. Until that stops and no one knows when, you have to look for longs. tl;dr Indexes - As mentioned above. Look for longs until we start making lower lows again and breaking 1h 20ema. SP500 made almost 9% in 8 days. If you are nerdy, go find other examples of something like that happening, after a equal move down before. Truly astonishing. dax futures comment: Bears lost and bulls got a give up bar today. Complete meltup and can’t be anything but max bullish going into tomorrow. So far dax respect no resistance and you can’t expect it to start tomorrow. Everything can happen, so a reversal is never out of the question but it’s not the probable thing for tomorrow. Obvious target above is now the August high at 18633. current market cycle: bear flag inside the bear trend (very very low chance this is still that) - more likely we are in a giant trading range 17000 - 19000. We know once we break above 18400 key levels: 17000 - 19000 bull case: Market was going nowhere but the data release at 2:30 pm CET did the trick and we just melted higher until market transitioned into a trading range. No selling pressure anywhere. Bulls want a measured move up to 18500 or higher. 1h 20ema should not be hit or market should not have any close below it. Invalidation is below 18200. bear case: Bears gave up today, which most likely means that we get follow through tomorrow and go big green into the weekend. I can’t see bears coming around at 18300. More likely they try 18500 or 18600 but it’s a rough guess. Just do not look for shorts. Invalidation is above 18700. short term: max bullish for 18500 or higher. medium-long term: 17000/17100 was my target for at least 3 months now and bears got it. We are in a correction since we dropped more than 10% from the ath. Many long term trader buy a 5%, 10%, … dip and a bounce here was expected. I do think we are in a bear trend which will most likely lead down to 15600 or 15000 over the next months but we can only be more certain, once this pullback is done and we make new lows below 17000 and have a channel from which we can calculate new targets. I called the highs in early July and there is a decent chance we will not see them for a long time. Update: Will update this on the weekend. If we stay below 18700, small chance it could still be valid but if we go above, it’s just one giant trading range for longer. current swing trade: None. trade of the day: Buying 18000 was good.
EUREX:FDXSU2024Long
by priceactiontds
2024-08-14 - priceactiontds - daily update - goldGood Evening and I hope you are well. tl;dr Gold - Insane price action tbh. Technically lower lows and lower highs but 40 points down and then 30 points up is also something special. I do think the 2519 highs can hold but it’s only reasonable to be neutral while the market oscillates that hard around 2500. comment: Neutral after today but market is still contracting. Lower highs and higher lows means market is undecided and the triangle is big enough for another 5-10 days inside it. Bears have a reasonable argument that the 2519 high can hold and we are in the upper third of the triangle, shorts are favored. current market cycle: trading range (triangle on the daily chart) key levels: 2400 - 2536 bull case: Bulls prevented the climactic sell off for 40 points and retraced most of it. They need a higher high above 2510 to retest 2520. 1h 20ema is completely flat. Not more magic to it right now. Invalidation is below 2490. bear case: Bears are statistically favored for shorts in the upper third of the trading range. That’s about it for now. They need a 1h close below 2490 to test 2480 again and then hope for follow through down. Invalidation is above 2522. short term: Neutral. Bullish above 2510 and bearish below 2480 but just for scalps. medium-long term: For now I think the most reasonable outlook I could give is a trading range 2200-2500. This could hold for some time. Bear in my still thinks this rally is dumb and we will see 2000 again this year but that’s as unreasonable of an outlook one could hold so DON’T. —adjusted 2450 to 2500 current swing trade: None trade of the day: Selling 2510 was good for many days now and continues to be so.
COMEX_MINI:MGC1!
by priceactiontds
2024-08-14 - priceactiontds - daily update - bitcoinGood Evening and I hope you are well. tl;dr Bitcoin - Bears did it today and bulls will probably wait for 54000/55000 to start buying again. Should not go above 59000 before 54000/55000. From yesterday: One side will give up tomorrow. Promise. comment: Promise kept. I also wrote that 62000 is my line in the sand for the bears. We are now in a decent bear channel with two pushes down. I do think that we grind this down much lower but there is also the potential of a break below that channel. In any case, market should not go above 59000 again, or the bear case would probably be over and we are back to neutral. current market cycle: bear trend until bulls can break above 59000 again. key levels: 55000 - 59000 bull case: Bulls gave up after not being able to go above 60000 today and I think it was the last of anything above 60000 we have see for some time. I don’t have anything for the bulls here. We will likely see more stepping aside by them until we hit 55000 again. If they somehow print above 59000 and break above the bear channel, I am obviously wrong. Invalidation is below 59000. bear case: Level was given, level was broken, hope you took the trade. Bears are in full control. They were probably in control since a week ago at 61500 because market could not close above the daily 20ema once since. But you never know the exact moment. Most likely we will see a stronger move down to 54000/55000 where I expect bulls to try bottom it. Bitcoin could not close a daily bar below 54000 since 2024-02-25. And that is the only target for the bears over the next days. They need to close the bull gap to 53000 with a daily bar. Measured move from today’s selling would give us a bit below 54000 and that is my plan for the next days. Will add to shorts on pullbacks. Invalidation is above 59000. short term: full bear mode until we reach 40000 or break above 59000 medium-long term: down to 40000 (could take 1-3 months). Could also drop to 20000 again but let’s make 40000 first and see how many want to buy there. —unchanged since March, obviously updated the time range which was 6-9 months before. — current swing trade: Short since 59450. trade of the day: The complete move up from bar 50 to 67 was weak. Every big bull bar was followed by a decent bear bar and bears finally gave up right under 60000. The 3 consecutive bear bars 67, 68 and 69 where the first 3 consecutive bear bars for around 60 bars. You could have shorted below bar 68 or latest below bar 70.
CRYPTO:BTCUSDShort
by priceactiontds
A valid setup CPI confirmed yesterdayHello everyone, hope we're all doing very well !. CPI pushed price down to tap the H4 order block which price actually did reject with an H4 hammer candle that adds even more confirmation for the buy. The SL which is just below the order block is 0.5980 (26 pips) Entry is just around this place price is but since price has moved already you can enter at the current price (0.6007). Use proper risk and money management and try not to over-leverage your account.
Long
by LaBOSS_FX
2
Gold recovers from the decline of the news☘️Fundamental Analysis Gold prices regained momentum in Asian trading on Thursday, reversing some of the previous day's sharp decline from a record high. The risk of a wider conflict in the Middle East, along with growing acceptance that the Federal Reserve (Fed) will begin its rate-cutting cycle in September, became key factors providing some support to the precious metal. Meanwhile, expectations of a July rise in US consumer prices have forced investors to scale back their expectations for more aggressive policy easing. This has led to a further recovery in US Treasury yields, supporting the US dollar (USD) on an overnight rebound from a monthly low and could act as a drag on gold prices amid a generally positive risk-on sentiment. ☘️Technical Analysis From a technical perspective, the overnight low, around the 2,438-2,436 region, now looks to protect the downside ahead of the $2,424 region or the weekly low hit on Monday. Some follow-through selling could leave Gold vulnerable to further weakness below the $2,400 level. Meanwhile, the oscillators on the daily chart are holding in positive territory and supporting the bullish outlook. That said, any further upside move is likely to face some resistance near the $2,471-2,472 region ahead of the $2,483-2,484 region or the all-time high hit in July. A further rally above the psychological $2,500 mark would confirm a breakout through the wide trading range. You should pay attention to the EMA critical zone around 2420, and pay attention to the zones for long-term gold BUY signals in the context of many economic and political fluctuations. Although gold has decreased, the RSI index is still in the positive zone and shows that the buyers are ready to return at any time. SELL zone 2459 - 2461 stoploss 2465 SELL zone 2469 - 2471 stoploss 2475 BUY zone 2443 - 2441 stoploss 2437 BUY zone 2426 - 2324 stoploss 2420
OANDA:XAUUSD
by TVS-Trader
2024-08-14 - priceactiontds - daily update - sp500Good Evening and I hope you are well. sp500 e-mini futures comment: Also trading range price action since we closed 8 points above the open price, so many parallels to dax. Market is near the big bear trend line around 5500 and the big round number is the most obvious magnet currently. Market wants to get there desperately and a bit above for an easy liquidity grab. It’s likely that we hit 5500 tomorrow and the bear trend line. There bears have their do or die moment as well and I think it’s 50/50 if we reverse or break above. current market cycle: Bear flag inside the bear trend key levels: 5430 - 5500 bull case: Bulls now made 360 points from the lows and they now want to break strongly above 5500 and probably make new ath afterwards. Today’s price action was mostly sideways but with higher highs and higher lows, so technically a bull trend. There is nothing to deeply analyse here. We are grinding higher on low volume and are near the big round number and the daily 20ema. Tomorrow we have an answer where the next 300 points will be made. Invalidation is below 5430. bear case: Bears trying but not enough. They need a strong 1h close below the 1h 20ema. Right now they have to pray for the bear trend line to hold and find enough sellers at 5500 to trade back down. If the bear trend line breaks, it’s moon time because all the bears will cover their shorts there. Invalidation is above 5530. short term: Neutral 5450 - 5530. Need a strong breakout to either side to enter bigger positions again. medium-long term: Bearish. I gave the 5000 target 3 months ago and we almost got there way earlier than expected. There is a reasonable chance we will see an event unfolding over the next weeks. Something breaks during these violent moves and this time will not be different.
CME_MINI:MES1!
by priceactiontds
2024-08-14 - priceactiontds - daily update - daxGood Evening and I hope you are well. tl;dr Indexes - Another grind higher and most markets are at big round numbers and near their daily 20ema. Tomorrow one side will give and I have no opinion who will win this. I think it’s absolutely 50/50. dax futures comment: Expanding triangle nested inside the bull wedge right under 18000. Bears are in do or die mode at this price and at least showed some selling pressure today but everything is bought. Until we see consecutive bigger bear bars below 17900, all is bullish. Bulls need a strong breakout above 18000 but the daily 20ema is at 18046 and that will be the biggest resistance so far. current market cycle: bear flag inside the bear trend key levels: 17100 - 17900 - smaller tf range is 17700 - 18000 bull case: Bulls refuse to let the market go down and yet today closed again almost exactly at the opening price. The EU session is absolutely not buying this rally and yet we grind higher. Bulls tried to get a decent close above 17970 today but failed miserably. I have no imagination how they could strongly break above 18000 but since we are right under it, it is a real possibility. Bulls only target left for now is a daily close above the daily ema which is at 18050ish. If they achieve that, we are probably free to melt to 18300. Invalidation is below 17850. bear case: Bears are trying but they are not doing enough. Since the daily volume is atrocious, I do think many traders are sidelined and waiting rather than buying the dip. Will see tomorrow and Friday on where we close this week. Bears have their do or die moment again at 18000. Either reverse or give up and let the bear gap close to 18200. I don’t have any reasonable arguments for the bears on why we would suddenly trade below 17800 again. For now they are not doing enough. Invalidation is above 18050. short term: Neutral until breakout to either side. Bullish above 18050 and bearish below 17850. medium-long term: 17000/17100 was my target for at least 3 months now and bears got it. We are in a correction since we dropped more than 10% from the ath. Many long term trader buy a 5%, 10%, … dip and a bounce here was expected. I do think we are in a bear trend which will most likely lead down to 15600 or 15000 over the next months but we can only be more certain, once this pullback is done and we make new lows below 17000 and have a channel from which we can calculate new targets. I called the highs in early July and there is a decent chance we will not see them for a long time. current swing trade: None. trade of the day: Buying 17900 and selling 17970. Trading range price action. Buy low, sell high and scalp.
EUREX:FDXSU2024
by priceactiontds
2024-08-14 - priceactiontds - daily update - bitcoinGood Evening and I hope you are well tl;dr Bitcoin - Market is currently in balance 57500 - 62000. No more magic to it. We are in the 7th consecutive day where Bitcoin could not close above the daily 20ema. One side will give up tomorrow. comment: Last bull trend line is broken and market is moving sideways since last Thursday. Bears keeping it below 62000 which is very important but bulls still buying the dips. Market is currently in balance 57500 - 62000. No more magic to it. We are in the 7th consecutive day where Bitcoin could not close above the daily 20ema. One side will give up tomorrow. Promise. current market cycle: bear trend until bulls can break above 63000. Below 57500 we will retest 50000. key levels: 57000 - 62000 bull case: Bulls buying the dips but are failing too much at the daily ema. Tomorrow one side will give up. Bulls need a strong move above 63000 to close the bear gap. Invalidation is below 57500. bear case: Can’t make stuff up when market is moving sideways. Clear key levels given. Bears need a strong move below 57500 to make the bulls give up and retest 50000. Invalidation is above 62000. short term: full bear mode until we reach 40000 or break above 63000 medium-long term: down to 40000 (could take 1-3 months). Could also drop to 20000 again but let’s make 40000 first and see how many want to buy there. —unchanged since March, obviously updated the time range which was 6-9 months before. — current swing trade: None trade of the day: Selling 61400 has worked since Sunday.
CME_MINI:MNQ1!
by priceactiontds
EURUSD: An In-Depth Analysis and Timeless Trading Strategy👀 👉 The EUR/USD pair is the most traded currency pair in the world, and in this video, I take you through a comprehensive analysis of this highly liquid market. I also present a trade idea that can be considered for today. However, the concepts and strategies discussed are not limited to a single session—they can be applied at any time in the future across various market conditions. In this video, we explore the key features and benefits of TradingView, highlighting some of the essential tools I use in my day-to-day analysis. Whether you're a seasoned trader or just starting out, these tools can enhance your market insights and trading precision. We delve into critical concepts such as trend analysis, market structure, price action, and the methodology for pinpointing precise entry points on any given trading day. This strategy is not just a one-time trade idea; it’s a robust approach that can be utilized across different currency pairs, making it a versatile addition to your trading toolkit. Please note that while this analysis is thorough, it should be used as part of a broader trading strategy that takes into account your personal risk tolerance and financial goals. Trading in the currency markets carries inherent risks, and it's important to approach it with a clear understanding of those risks.
by fxtraderanthony
21
Gold Price Analysis August 13Fundamental Analysis Gold prices are struggling to capitalize on the previous day’s strong gain of more than 1% and attracted some intraday sellers near a retested monthly peak in the Asian session on Tuesday. The decline could be attributed to some repositioning ahead of key US inflation figures and a positive risk-on bias, which tends to dampen demand for the safe-haven precious metal. However, rising geopolitical tensions in the Middle East and concerns about a broader regional conflict could dampen market optimism. This, coupled with dovish expectations from the Federal Reserve (Fed), which put US Dollar (USD) bulls on the defensive, should provide some support to the lackluster Gold prices. Traders are now looking forward to the US Producer Price Index (PPI) for meaningful momentum. Technical Analysis From a technical perspective, the overnight breakout above the $2,448-2,450 horizontal resistance is seen as a fresh impetus for bullish traders. Furthermore, the oscillators on the daily chart have gained positive traction, further suggesting that the path of least resistance for Gold is to the upside. Hence, a further move back to challenge the record high, around the $2,483-2,484 region, looks like a clear possibility. Next up is the psychological $2,500 level, which if decisively cleared would set the stage for an extension of the upward trajectory. On the downside, the $2,450-2,448 resistance now looks to protect the immediate downside, below which, Gold could slide back to the overnight lows around the $2,424-2,423 region. The next relevant support level is anchored near the $2,412-2,410 zone ahead of the $2,400 round-figure mark. Pay attention to the support-resistance zone for the best trading strategy. Resistance: 2469 - 2475 - 2486 - 2492- 2500 - 2508 Support: 2459 - 2446 - 2434 - 2425 Sell 2485 - 2487, Stoploss 2491 Sell 2500 - 2502, Stoploss 2506 Buy 2435 - 2433, Stoploss 2429 Buy 2426 - 2424, Stoploss 2420
OANDA:XAUUSD
by TVS-Trader
2024-08-13 - priceactiontds - daily update - daxGood Evening and I hope you are well. tl;dr Indexes - My bearish bias got obliterated today. While dax is still 100 points below the daily 20ema, sp500 and nasdaq closed above theirs. Overall much stronger buying than expected and what bears should have allowed imo. Maybe it was front running CPI or a solid short squeeze, it does not matter. All patterns allow for some over-/undershoot so bears could technically still sell off again and we have seen the highs for this pullback but that’s as low probability as it gets. More likely for sp500 is a retest of 5000, if bulls want it bad tomorrow and CPI probably has to be cold as well. Today’s US close was bullish af and we can’t expect anything but more bear pain tomorrow. Anything below 5400 would be a huge surprise again. dax futures comment: Not much new stuff to tell you. The wedge bear flag is alive but market is still below the daily ema. Bulls want 18000 and bears have to keep the gap to 18200 open or this bear trend loses much of it’s strength. Play the bear flag as seen in my weekly post, until clearly broken. Bears need a huge surprise tomorrow. Can’t be anything but bullish after today’s price action. current market cycle: bear flag inside the bear trend key levels: 17100 - 17900 - smaller tf range is probably 17700 - 18000 bull case: Bulls closed the us session at the highs and above 17900, which was previous resistance. They want the strong momentum going for 18000 tomorrow. For that they should keep it above 17850 or bears see it as a failed breakout and want to trade down to 17740 again. Bulls are in control. Invalidation is below 17850. bear case: Bears see the EU open and close which were 10 points apart. They need to stall this during the Globex session and generate huge selling pressure to keep this below 17900 again. If they fail, 18000 is almost a given. Most likely is that we see sideways movement at the highs before the US cpi release and depending on that, big up or big down but I have no idea how market will interpret the number to either side, so I will be flat as always and wait for a breakout and follow through. Invalidation is above 17950. short term: Neutral until a decent breakout out of the wedge bear flag. Bear case was hit hard today. If we stay at the highs and cpi is low, most likely much much more upside again. medium-long term: 17000/17100 was my target for at least 3 months now and bears got it. We are in a correction since we dropped more than 10% from the ath. Many long term trader buy a 5%, 10%, … dip and a bounce here was expected. I do think we are in a bear trend which will most likely lead down to 15600 or 15000 over the next months but we can only be more certain, once this pullback is done and we make new lows below 17000 and have a channel from which we can calculate new targets. I called the highs in early July and there is a decent chance we will not see them for a long time. current swing trade: Small short from 17808. SL 17940 Update: -136 on the short. Flat again. trade of the day: Decent selling to a new weekly low from the open and selling bar 31 was reasonable. Stop had to be new high of the day. Could you have bought bar 41,42 or 43? I don’t think so. Huge selling and the first 3 bull bars forming a low 1. Buying that is usually low probability. Getting out of shorts above bar 42 was good though. Buying 47 was good because the low 2 did not trigger and bar 47 was way to strong for bear comfort. Market then never had a 15m close below the 15m ema again.
EUREX:FDXSU2024
by priceactiontds
SCGP - TFW Wave Target Reversal Projection - Bull Trap A potential bull trap scenario with one more wave downtrend. 1. First correction - Extended flat ABC Wave B retraced 78.6% / w.a and w.C: extended 161.8% of w.A 2. Complex triangle ABCDE pattern 3. The current downtrend wave doubled zigzag ABC pattern with wave 4 in c leg targeting 38.2-50 % retracement at ma50w, creating a false breakout signal before final wave 5 downtrend. RSI at the lowest position - no bullish divergence trend reversal signal support
SET:SCGPShort
by dukeposh