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Gold trend broken, extending the downtrendGold prices fell for the second day in a row amid the Fed's hawkish outlook. The Fed's September interest rate cut is still on the table, which limits USD gains. Persistent geopolitical tensions contribute to limiting the rapid slide in gold prices. The greenback followed US Treasury yields higher in the second half of Tuesday's trading session, ahead of hawkish comments from the US Federal Reserve Governor. The uptrend line of the short-term trend has been broken and a new support price at 2312 has just been formed. The relative strength index (RSI) maintains its position below 50, proving that the downward trend in Gold prices is still continuing. In addition, the EMA 34 has begun to cross the EMA 89, in line with the main trend of the market. If sellers muster strength, initial support will be at 2,306 and the decline could extend to the bottom of 2,290 three weeks ago. In the opposite direction, Gold price needs to regain strength when it needs to close the daily candle above 2335 and also above the two moving averages EMA 34 and EMA 89 to return to the long-term upward trajectory. Level 2343 will become an important technical resistance hook for gold today. Support: 2306 - 2291 Resistance: 2328 - 2343 🕯Trading signals 🔼BUY GOLD scalping zone 2306-2304 Stoploss 2301 🔼BUY GOLD zone 2291-2289 Stoploss 2286 🔽SELL GOLD scalping 2328-2330 Stoploss 2333 🔽SELL GOLD zone 2343-2345 Stoploss 2348 ⚡️Psychology, discipline and capital management are the three factors that make victory possible.⚡️
OANDA:XAUUSD
by TVS-Trader
USDJPY still continues to riseUSD/JPY maintained its decline near 160.50 during the European session on Thursday, eroding some of Wednesday's surge. The pair was dragged down by widespread risk aversion and Japan's verbal intervention, supporting the Japanese Yen. The focus now is on potential foreign exchange intervention and US data. The Japanese yen (JPY) weakened again on Wednesday in a nearly 10-day losing streak with only one interruption in its advance. Traders are dipping their toes in the water to see if Japan's Ministry of Finance will intervene in the foreign exchange market. Meanwhile, the Bank of Japan is still unclear when, how and whether it will cut its debt purchase program. The USD/JPY pair is flashing a red warning light when the price action gets too hot. The best evidence is the Relative Strength Index (RSI), which is close to overbought conditions on the daily chart, while the 160.00 magic level, where Japanese authorities last intervened, is very close. Don't expect an immediate knee-jerk reaction, as authorities will want to see whether US data on Thursday and Friday can trigger some easing without having to stick their necks out to intervene. Are not.
by TVS-Trader
SWING IDEA - LICLife Insurance Corporation of India (LIC) , a leading insurance company, is exhibiting technical signals that suggest a promising swing trading opportunity. Reasons are listed below : 1080 Zone Tested Multiple Times : The 1080 level has been a significant resistance zone. The price is now attempting to break through this level, indicating strong bullish momentum. Bullish Marubozu Candle on Daily Timeframe : The recent formation of a bullish marubozu candle on the daily chart suggests strong buying pressure and potential for further upward movement. Bullish Engulfing on Weekly Timeframe : The presence of a bullish engulfing candle on the weekly chart indicates a potential reversal in trend and strong buying interest. Trading Above 50 and 200 EMA on Daily Timeframe : The stock is trading above both the 50-day and 200-day exponential moving averages (EMA), reinforcing the bullish sentiment and providing strong support levels. Constant Higher Highs : The stock has been consistently making higher highs, indicating a strong uptrend and sustained bullish sentiment. Spike in Volumes : A noticeable increase in trading volumes confirms the strength of the price move, indicating strong investor interest and participation in the current trend. Target - 1170 // 1250 Stoploss - daily close below 990 DISCLAIMER - Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services. @visionary.growth.insights
NSE:LICILong
by Visionary_Growth_Insights
Assessing Forex Dynamics: EUR/USD Analysis📅 Let's dive into today's analysis. We're focusing on the EUR/USD pair, which shows the value of the Euro against the US Dollar. This analysis will help us understand whether the US or European economy is stronger. 🧩 To better compare these currencies, it's helpful to also consider the DXY chart. For a full DXY analysis, you can find the link in the description. In that analysis, I mentioned that the DXY is likely to trend downward in the long term because the interest rate has reached 5.5%, which is quite high. The US might soon need to start lowering interest rates. However, since the inflation target in the US is 2%, the interest rate could reach 6% to control the current 3.3% inflation and bring it down to 2%. 💶 On the other hand, the economic situation in Europe is better than in the US, with both better interest rates and lower inflation. The average interest rate in Europe is 3.75%, and the average inflation rate is 2.4%. So, if the US eventually begins to lower its interest rate, the EUR/USD could start moving upwards. 🔍 Let's look at the chart. In the weekly timeframe, we see a downtrend in the High Wave Cycle, which is currently undergoing a correction up to 0.618. In the Medium Wave Cycle, within the downtrend correction, there's an uptrend that, after reaching 0.618 of our larger cycle, entered a correction phase down to 0.5. Currently, in the Low Wave Cycle, we are ranging, and we need to see whether the HWC or MWC will dominate to determine the next market move. 🧲 In the LWC, there's also a descending trendline that has brought the price down to the middle of the range box, and now the price is at 1.06245. This trendline could start a bearish momentum, but since it formed within a range box, it's unreliable. 📉 If 1.06245 is broken, the price could move down to 1.05195. A break of 106.723 in the DXY could confirm this breakdown. If the 0.5 area, which overlaps with 1.05195, is broken, the price could move to at least the 0.618 Fibonacci level. However, since the HWC is bearish, the downtrend might be much more significant. 📈 If the trendline is broken to the upside, after the trigger, we can expect the price to move to the top of the range box. In the DXY, a break of 104.5 could be suitable for confirmation. The main long trigger is 1.10464. The first barrier for the price is 1.12015, overlapping with the 0.618 level, which might hold the price for a few weeks. But if this area is surpassed, the price could move to 1.16558. 🎲 Moving to the daily timeframe, there's a gently sloping ascending trendline supporting the price, and a compression has formed in recent days. There's a hidden static line, not immediately apparent, but I've marked it in black on the chart. 📈 For a long position, we can enter riskily upon breaking 1.07370, but as I mentioned, it's a risky position, so the risk taken should be less than usual. The next long trigger is 1.09023, and if this trigger breaks, we can move to 1.11055. The final long trigger is the break of the range box top at 1.11055. 📉 For a short position, we first need to wait for the ascending trendline to break and then for 1.06687 to break. In this case, we can move to 1.06136, the main trigger for breaking the trend. Breaking this support can take us to the bottom of the range box. The third short trigger is breaking the bottom of the range box at 1.04610. 📝In conclusion, the EUR/USD pair is at a crucial juncture with potential for both upward and downward movements depending on key trigger levels. Keep an eye on economic indicators from both the US and Europe, and use strict risk management strategies to navigate the market. 🧠💼 Always remember the inherent risks in forex trading. Adhere to strict capital management principles, use stop-loss orders, and aim for an initial target with a risk-to-reward ratio of at least 2. 🫶 If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a currency pair you'd like me to analyze next.
Long
by itsparham96
4
Investors eagerly await US PCE data✔️Gold prices attracted some selling during the Asian session on Friday and partially reversed the previous day's nice recovery from more than two-week lows. The US dollar (USD) spiked to a new two-month high in the final hour and became the main factor weakening commodities. ✔️That said, expectations that the Federal Reserve (Fed) will begin cutting interest rates later this year provide some support for the precious metal. Additionally, geopolitical tensions in the Middle East and lingering tensions between Russia and Ukraine act as drivers for the safe-haven XAU/USD. ✔️Investors also appear reluctant to bet on the upside and prefer to wait on the sidelines ahead of the release of the US Personal Consumption Price Index (PCE) at the end of the first North American trading session. Important inflation data will influence market expectations of the Fed's future policy decisions, which, in turn, will help determine the next leg of the directional move for Gold prices. profit. ✔️From a technical perspective, gold's positive move has been resisted at the price range of 2,330 points, EMA 89 of the h4 frame and EMA 34 in the long-term uptrend of frame D. The above barrier is currently anchored near the 2,336- 2,338, will now serve as an important pivotal point. Sustained strength beyond that is likely to push Gold prices back into the $2,360-$2,365 supply zone. Some follow-through buying should negate any near-term negative trend and allow bulls to reclaim the $2,400 round mark. ✔️On the downside, the 2300 and 2295 round harbor support marks are likely to protect the decline just ahead of the $2,285 horizontal support. A convincing break below the 2285 handle would be seen as a fresh trigger for traders to bearish on gold to the deeper 2268 zone. Support: 2310 - 2300 - 2295 - 2285 - 2268 Resistance: 2328 - 2336 - 2344 - 2355 BUY price range 2312 - 2310 stoploss 2307 SELL price range 2335 - 2337 stoploss 2340 BUY price range 2286 - 2384 stoploss 2281 SELL price range 2354-2356 stoploss 2359
OANDA:XAUUSD
by TVS-Trader
1
Gold analysis (June 24) How is GOLD after the sharp decline ?📌On Friday, when data released by S&P Global showed that the US PMI data for June was generally better than expected, the US Dollar strengthened and spot gold plummeted more than 38 USD. U.S. business activity hit a 26-month high in June amid a recovery in employment and a significant reduction in price pressures. The FED emphasized that more evidence of cooling inflation is needed before cutting interest rates. These statements supported the trend of the US Dollar during the week. 📌Notable economic data and events next week Tuesday: US consumer confidence index Wednesday: US new home sales index Thursday: Final Q1 GDP, weekly jobless claims, core durable goods, US pending home sales index Friday: PCE price index, personal income and spending 📌On the h2 chart, after gold could not break the 2370 resistance zone to reach 2385, gold fell to 2320 after positive economic data from the US. Strong selling pressure brought gold prices back to a very important position. The important thing for the uptrend is that the rising trendline continues to be maintained. 📌In terms of closing position, gold has conditions to continue to decline with a target level that could target the original price point of 2,300 USD in the short term if gold has a nice recovery to the important fibonacci areas around 2336 or 2343. In the opposite direction, gold can still maintain an uptrend if this support level of 2320 still holds and supports gold prices trading above 2343. 📌The overall technical picture is constantly changing with very large price movements occurring regularly, and currently technical conditions are more supportive of the bearish possibility although there is still support in the pipeline. short term mentioned above. Support: 2316 - 2311- 2300 Resistance: 2323 - 2337 - 2346 SELL zone 2335 - 2337 stoploss 2340 SELL zone 2346 - 2348 stoploss 2351 BUY zone 2311 - 2309 stoploss 2306 BUY zone 2302 - 2300 stoploss 2297
OANDA:XAUUSD
by TVS-Trader
Bears are dominating the entire market☘️Gold prices hovered in a range just below the $2,300 mark during Thursday's Asian session and consolidated recent declines to a near two-week low touched the previous day. The Federal Reserve (Fed) has adopted a more hawkish stance and expects just one rate cut in 2024 at the end of its June policy meeting. Hawkish outlook for bond rate hike US Treasuries to a two-week high and the US Dollar (USD) to its highest since early May, are therefore seen as a drag on the unyielding yellow metal . Persistent geopolitical tensions and political instability, however, have provided some support for XAU/USD. The bears also seem reluctant to bet aggressively and prefer to wait for the release of the key US Personal Consumption Expenditures (PCE) Price Index on Friday. Meanwhile, Thursday's US economic data could create short-term opportunities later in the US session. ☘️From a technical perspective, the recent failure to build momentum above the 2334 resistance zone has caused sellers to push gold prices lower than 2300. Furthermore, the break of the uptrend line support Short-term decline near the $2,314 area has confirmed the negative short-term outlook. The downward pull on gold prices is strong, some subsequent selling below the horizontal support level of 2,285 USD is likely to drag Gold prices back to 2265. ☘️On the downside, any recovery attempt now appears to face resistance near the $2,312-2,314 support stop. Today the main resistance and price range of gold is around 2320-2322 with the resistance of the moving average EMA 34 and EMA 89 converging with gold's sharply falling break out point. The next upward move could lift the Gold price back to the 2,365 supply zone or back to the peak of 2,400. Gold first needs to close the daily candle above 2,334. Support: 2290 - 2286 - 2270 Resistance: 2311 - 2321 - 2334 SELL price range 23011 - 2303 Stoploss 2316 BUY price range 2291 - 2289 Stoploss 2286 BUY price range 2271 - 2269 stoploss 2265 SELL price range 2320 - 2322 stoploss 2325
OANDA:XAUUSD
by TVS-Trader
Navigating Market Waves: Bitcoin & PENDLE Analysis📅 Let's dive into today's analysis. The market has formed a small structure, giving us better triggers for taking positions. The coin I want to analyze today is PENDLE, but first, let's look at Bitcoin. 👑 Bitcoin Analysis 🔍 We're analyzing Bitcoin on the 1-hour timeframe, as usual. The conditions haven't changed much from yesterday. The price has made a deep pullback to the broken descending channel. The current short position trigger is 61,273, which, if broken with good volume, can introduce significant bearish momentum into the market. 📊 The volume has decreased during the correction, which is natural and indicates the strength of the bearish trend, suggesting convergence. 📉 For short positions, as mentioned, 61,273 is a suitable trigger. If you miss this trigger, you can use Dow Theory to take a position or wait for the support break at 59,323. 📈 I still do not recommend any long triggers as it doesn't make sense to open long positions with the market having such strong bearish momentum. ✉️ PENDLE Analysis 🔍 Let's move on to PENDLE. This is the first time I'm analyzing this coin on the channel, so I'll explain the project as well. The PENDLE project is a blockchain-based platform within the DeFi space that offers users LP-Tokens with high APRs. These LP-Tokens have expiration dates, and if they are not withdrawn before their expiration, the invested funds are completely lost. This is why the APRs are high, as there is more risk involved. 💎 On the daily timeframe, as you can see, there's a good, clean uptrend that, after reaching the resistance at 7.033, started to correct down to the golden Fibonacci zone of 0.5 to 0.618. It then moved back up to the 7.033 peak, forming an ascending triangle supported by a trendline. Additionally, the SMA 99 is also providing strong support to the price. Since we are both on the trendline and the SMA 99 has reached the price, the likelihood of support from these levels is high, depending on Bitcoin's trend and future developments. 📊 The volume of this coin has started to decrease after reaching the 7.033 resistance, which is natural. However, for a new uptrend to start, the buying volume needs to increase at least to the previous levels. 🛒 For spot purchases, you can buy after breaking the 7.033 resistance, which is the ATH resistance for this coin. I believe risking no more than 0.5-1% on this coin is logical, but considering the potential hype around the project, this risk is reasonable. Personally, I plan to hold a small amount of this coin in my spot portfolio after breaking this resistance. 🎯 The target for this coin in the first stage is the $12 range, and for a bull run or a major move, it could be $23. I suggest waiting for the $23 target as it depends on the project's success and if it becomes as large, popular, and reliable as Uniswap or Pancakeswap. 📉 For futures positions, it's better to move to the 4-hour timeframe to see the triggers more clearly. The long trigger in futures can be 6.21, which is close to the ATH and should be quickly locked in as profit due to the strong supply zone. The 55.92 trigger in RSI can confirm our long position. 📈 For short positions, after breaking the trendline, the 4.841 trigger is suitable. The target can be the daily golden Fibonacci zone, and its confirmation can be the break of 35.76 in RSI. 📝 Conclusion In conclusion, the market has shown a significant bearish movement, especially in Bitcoin, leading to cautious market sentiment. For Bitcoin, short positions remain more favorable due to the strong bearish momentum, with 61,273 as a key trigger. For PENDLE, 8.871 is a crucial short trigger, while long positions should be taken with caution, waiting for a more defined structure and stronger buying signals. Always manage risk and wait for clear triggers before entering positions. 🧠💼 Always remember the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Stick to strict capital management principles and use stop-loss orders, ensuring an initial target with a risk-to-reward ratio of 2. 🫶 If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next.
Long
by itsparham96
2
The Silver Trap: Don't Fall for the Bullish BreakoutI'm about to say the obvious: Silver doesn't want to rally. It teases the bulls, reaching levels where they can finally breathe a sigh of relief, only to slide back down. Let me illustrate this on the chart. Imagine you're looking at the chart on June 06, and there's nothing to the right (just cover it up with your hand or a piece of paper). You see a big "bullish" candle, breaking through local resistance – it's a classic setup. Tempting, right? Did you take the bait? I did, hundreds of times. But after 2 years of studying algorithmic trading and testing this pattern, I realized it doesn't work as advertised. Hundreds of hours of testing didn't yield long-term positive results. However, trading against this "breakout" pattern showed promise. Here's the point of this post: subscribers know we never rely on a single factor or sentiment. We use multiple data sources to gain an edge. But there's a secret method that works almost as well: looking at the chart through the eyes of "smart money" – big players who know how to use retail traders' patterns against them. They see opportunities and liquidity, and they're not afraid to use it. Hundreds of hours of testing confirm this. So, be cautious of that bullish breakout – it might just be a trap.
OANDA:XAGUSDShort
by ClashChartsTeam
Sunday Market Calm: Bitcoin and SUSHI Insights🔍Let's dive into today's analysis. The market is quite range-bound and lacks volatility since it's Sunday and the trading volume is low. As usual, let's start with Bitcoin analysis: 👑 Bitcoin Analysis 1-Hour Timeframe In the 1-hour timeframe, we still have an ascending channel where yesterday, the price stabilized above its midline. However, as mentioned earlier, there is currently no bullish momentum in the market, which is why I haven't opened any positions and remained in a no-position stance. 🔻 Interestingly, the price was supported at 64247, making this trigger more reliable. Upon breaking this short-term support, I will open my short position. However, given the low market volume, it's better if selling volume enters the market simultaneously with the trigger break. The RSI confirmation trigger is 44.53, but due to the ranging market, momentum oscillators are less reliable. 📈 For a long position, the risky trigger at 64530 is still on the table, but I strongly advise against opening a long position in the current conditions. It is better to wait for the market to build more structure. 🍣 SUSHI Analysis Project Overview The coin we will analyze today is SUSHI, which is a DEX platform in the DeFi space. This platform allows decentralized trading of cryptocurrencies. Additionally, by creating Liquidity Pool Tokens (LP tokens) on this platform, you can generate income. This relates to the DeFi sector, and I recommend thorough research before entering this space. Technical Analysis In the 4-hour timeframe, it is evident that there is a downtrend that started from the 1.295 resistance and reached the 0.791 support. Using the Fibonacci retracement, we see that between the 0.791 support and the 0.859 level (which is also the 0.236 Fibonacci level), a range box has formed, indicating a resting phase. The SMA25 has reached the candles and turned the previous candle red. If the SMA25 can inject momentum into the market, we can expect the market to become bearish. 📉 For a short position, I recommend opening a short position upon breaking 0.791, with a target of 0.64. It is crucial that volume increases; otherwise, the trend will weaken. 📈 For a long position, wait for the price to stabilize above the SMA25 and for the RSI to hold above 47.03. You can open a position upon breaking 0.859, but since this is against the trend, buying volume in the candles must be high, and the target should be small. The 0.382, 0.5, and 0.618 Fibonacci levels can be suitable targets for this position. ♟ Personal Strategy I will definitely open a short position upon breaking 0.791 because if this area breaks, a significant bearish momentum will enter the market, potentially leading to a substantial decline. However, for a long position, I will not open one at the moment and will wait for the market to build a structure that fits my long position strategy. 📝 Conclusion Today’s market analysis highlights the importance of patience and strategic positioning. For Bitcoin, the lack of bullish momentum suggests a cautious approach, avoiding long positions until the market shows more definitive signs. SUSHI presents potential opportunities on both the short and long sides, but volume confirmation is key to avoid false moves. Remember, in low-volume conditions like today, it's best to wait for clear signals before making any trading decisions. Always prioritize risk management and thorough analysis before entering the market.
Short
by itsparham96
1
SWING IDEA - CARBORUNDUM UNIVERSALCarborundum Universal , a renowned conglomerate in the industrial sector, presents a compelling swing trade opportunity. Reasons are listed below : A bullish Marubozu candle on the weekly timeframe signals strong buying pressure and potential upward momentum. The stock is breaking out of a consolidation phase lasting over a year, indicating a significant shift in market sentiment and potential for sustained movement. Finding support at the 0.382 Fibonacci level strengthens the bullish case, providing a solid foundation for potential upward movement. The 50-period Exponential Moving Average (EMA) on the weekly chart acts as additional support, reinforcing the bullish bias. The stock is attempting to breach its all-time high, signaling strong upward momentum and potential for further gains. Notable increase in trading volumes reflects heightened market interest and potential accumulation by investors, adding confirmation to the bullish thesis. Target - 1405 // 1475 // 1650 Stoploss - weekly close below 1085 Disclaimer : Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services. @visionary.growth.insights
NSE:CARBORUNIVLong
by Visionary_Growth_Insights
Gold prices attract some sellers as Fed-inspired USD strengthGold prices encountered new supply in the early hours of trading in Europe and faded Friday's positive move after the surprise of the Federal Reserve's (Fed) hawkish stance. The possibility of the Fed implementing two interest rate cuts in 2024 is still being considered amid signs of easing inflationary pressures in the US. Additionally, persistent geopolitical tensions in the Middle East, coupled with political instability in Europe, will help limit losses in the safe-haven metal. From a technical perspective, traders need to wait for gold's sustained breakout below the $2,300 mark before placing strong bearish bets on gold. Therefore, it would be wise to wait for some further selling below the $2,285 horizontal support to be sure gold's position is truly bearish. The commodity could then accelerate its decline to the next relevant support near the $2,254-2,253 area. The downward trajectory could extend further towards the $2,225-$2,220 area en route to the $2,200 round figure. On the contrary, gold regained strength when it returned to trading above 2325. Next is the $2,340 supply zone where gold has not been able to break out of the border for 2 weeks, which, if cleared decisively, could push pushed some recoveries above the 2355 trendline above. when the trendline broke the notable peak area of ​​2385 on the way to the 2,400 USD mark. Support: 2312 - 2300 - 2291 - 2286 - 2280- 2274 Resistance: 2325 - 2340 - 2350 SELL price range 2340 - 2342 stoploss 2346 BUY price range 2303 - 2301 stoploss 2298
OANDA:XAUUSD
by TVS-Trader
Gold sideways waits for important economic dataGold price cannot break the 2325 resistance level to form a short-term uptrend. Gold retreated to levels near 2310 as the US dollar tried to recover even as US Treasury yields eased again. The release of US retail sales data on Tuesday, weekly jobless claims on Thursday and a flash purchasing managers' index on Friday could provide clarity. in terms of consumption and economic strength. In the last two weeks, the wide range that gold is trading at is still 2340 and 2300. The lower levels of 2308 and 2325 are still keeping gold prices stable from yesterday's European session to today. In general, gold still moves sideways until the latest data from the US economy is released. Support: 2308 - 2300 - 2291 - 2286 Resistance: 2330 - 2340 - 2350 SELL zone 2338-2340 stoploss 2343 BUY zone 2308 - 2306 stoploss 2303
OANDA:XAUUSD
by TVS-Trader
SWING IDEA - PRESTIGE ESTATESPrestige Estates , a leading Indian real estate developer, is showing a compelling opportunity for a swing trade. Reasons are listed below : Breakthrough of Resistance Zone : The 1350-1400 range had been a significant resistance zone, but the price recently broke through and achieved a weekly close above it, indicating a strong upward momentum. 0.5 Fibonacci Bounce : The price retraced to the 0.5 Fibonacci level and subsequently bounced back, suggesting this level is acting as strong support, reinforcing the potential for continued bullish movement. Breakout from Consolidation Phase : The stock has broken out of a 4-month consolidation phase, signaling that it could be entering a new upward trend. Bullish Marubozu Candle on Weekly Timeframe : Last week's marubozu candle (with minimal shadows) indicates strong buying pressure and supports the case for continued bullish momentum. Trading Above 50 and 200 EMA on Weekly Timeframe : Prestige Estates is trading above both the 50-week and 200-week exponential moving averages, which is a robust signal of a prevailing uptrend. Trading at All-Time High : The stock is currently trading at its all-time high, indicating strong bullish sentiment. However, traders should watch for potential pullbacks or resistance at this level. Target - 1650 // 1800 // 1900 Stoploss - weekly close below 1300 DISCLAIMER - Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services. @visionary.growth.insights
NSE:PRESTIGELong
by Visionary_Growth_Insights
ETH Analysis:Comprehensive Review Across Different Time Frames🔍 Let's dive into today's analysis. Today, I want to thoroughly analyze Ethereum to provide a complete overview of the potential scenarios ahead. Bitcoin Analysis 📉 First, let's take a look at Bitcoin. In the 4-hour timeframe, we found support at 64429. After breaking the high of 65389, we set a higher low in this timeframe. From a Dow Theory perspective, we are seeing the first signs of a trend reversal. If we set another higher high and higher low, we can confirm an upward trend. 📈 An important aspect of this trend change is that buying volume needs to enter the market. As you can see, the green candle volume is gradually increasing. We now need price confirmation for an early long position entry. Dow Theory confirmation can be a good trigger, but if the price doesn't correct, candle confirmation above 66719 can serve as a suitable long trigger. RSI has also given its confirmation by breaking 50.91. 📉 For short positions, confirming a candle below 64429 remains a strong trigger. Given the current downward momentum, there's no need to complicate things unnecessarily. Simply confirming a candle below this support is sufficient for a short position, with RSI breaking below 32.53 providing additional confirmation. ⚠️ Remember, we are in a large range box. When the high wave cycle (HWC) is in a range, we shouldn't expect our positions to yield significant profits or for the market to move sharply and hit our targets. ### Ethereum Analysis 🔍 Now let's move on to our main focus, Ethereum (ETH). Weekly Time Frame 📅 Starting with the weekly timeframe. Alongside Bitcoin's rise from 25k to 74k, Ethereum also climbed from its 1500 support, coinciding with a curved trendline, up to 4k. It formed a significant resistance at 3873 and then began correcting, reaching around the 0.382 Fibonacci retracement level, finding support at 2922. 📈 A major catalyst for Ethereum's support at this level was the announcement of the approval of an Ethereum ETF, which generated considerable hype. As a result, since that day, everyone has been waiting for the ETF's launch date. This has created significant bullish sentiment around Ethereum. By analyzing the total2 to total3 ratio, Bitcoin, and Tether dominance, we can infer that money flow is shifting towards Ethereum, likely because traders and whales believe that buying before the ETF launch will be profitable in the future. Technically, we can see that it reached the 0.382 Fibonacci level, and as selling volume decreased and the SMA25 intersected the price, a new upward momentum began. In my opinion, a combination of technical factors and the ETF news has created significant hype for Ethereum. 💸 For spot buying in the daily timeframe, it's better explained, but if you buy only in the weekly timeframe, you should wait for a break above 3873. Breaking the 70 level in RSI can provide additional confirmation for your buy. 📉 If the 2922 support, which aligns with the 0.382 level, breaks, we could move towards the golden zone of Fibonacci, between the 0.5 and 0.618 levels, with a target around 2200. Ethereum to Bitcoin Price Ratio 📉 Next, let's analyze ETH/BTC, which shows the price ratio of Ethereum to Bitcoin, helping us understand the money flow direction. Since mid-2022, Ethereum's price relative to Bitcoin has been declining. This doesn't mean Ethereum's price dropped, but rather that Bitcoin's price increased more significantly. 📈 After reaching the Demand zone, this chart made a fake breakout below this zone and returned to it, reaching its descending trendline. With the current hype and money flow into Ethereum, we expect this trendline to finally break. After breaking the trendline, the next obstacle is the SMA99. If Ethereum clears these hurdles, it could see a 56% increase relative to Bitcoin. If Bitcoin also trends upward during this period, Ethereum could experience significant growth in the ETH/USDT chart. 📉 If Ethereum continues to decline relative to Bitcoin, the next target could be 0.04307. Daily Time Frame 📅 Moving to the daily timeframe. In addition to the weekly Fibonacci, we can draw another Fibonacci on this timeframe. The 0.618 level of this Fibonacci overlaps with the 0.382 weekly Fibonacci, creating a significant support at 2873. After breaking the trendline discussed in previous analyses and the ETF approval news, Ethereum made an upward move. 📉 Currently, it has reached resistance at 3894 and is correcting, forming a range between 3457 and 3642. Breaking either of these levels could move the price to the bottom or top of the range. 📈 For spot buying, breaking 3642 is risky; the main resistance is 3894. Breaking either of these levels allows you to buy. RSI can also assist in spot buying; breaking 52.04 allows buying after price confirmation. For shorting in a market downturn, 42.84 is a suitable trigger. For futures positions, let's look at the 4-hour timeframe. 📉 In this timeframe, the price, after reaching the 0.618 Fibonacci level, created a range between 0.618 and 0.382, visible in the daily timeframe as well. 📈 We have two main triggers for long and short positions. The main long trigger is breaking 3629, with RSI breaking 61.57 for additional confirmation. For short positions, breaking 3402 is ideal. Use these triggers for opening positions. The target for long positions is 3875, and for short positions, it's 3185. 📉 If you want to open a short position earlier, confirming a candle below 3522 allows a low-risk short entry. This is happening now, and if the candle confirms below this level, you can enter a low-risk short position, but the target will be 3402, not 3185. ⚠️ The most crucial point in most analyses is that volume must confirm the trend. Always remember this to filter out and identify fake moves. 📝Ethereum's price movements are currently influenced by a mix of technical levels and fundamental news, particularly the upcoming ETF. Monitoring key support and resistance levels in different timeframes, along with volume and RSI confirmations, is essential for making informed trading decisions. Keep an eye on market trends and news updates to adapt your strategy accordingly. 🧠💼 Always remember the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Stick to strict capital management principles and use stop-loss orders, ensuring an initial target with a risk-to-reward ratio of 2. 🫶 If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next.
by itsparham96
1
rebounded strongly after reaching a level lower than 2300Gold for delivery closed down more than 20 USD on Thursday, fell below the 2,300 USD/ounce mark, and recovered slightly in the European session on Friday to 2,314. Despite weak US PPI, gold prices still fell sharply as the Federal Reserve forecasted only one interest rate cut this year. In addition, a stronger US Dollar also affects gold prices. The Federal Reserve on Wednesday kept interest rates steady despite improving inflation and forecast only one rate cut in 2024, due to Economic growth and the unemployment rate remain above what the Fed considers long-term sustainable levels. High interest rates increase the opportunity cost of holding gold, making it less attractive compared to other assets in the market, especially the dollar. Markets are still assessing the Fed's future monetary policy path. The Federal Reserve announced Wednesday that it would leave interest rates unchanged and signaled that there would be only one rate cut in 2024. In March, the Fed had expected three rate cuts in this year. Before Thursday's PPI data was released, the May Consumer Price Index (CPI) released by the US Department of Labor on Wednesday also showed that inflation had generally cooled, creating momentum for gold to surge. up 1% that day. However, after the Federal Reserve issued hawkish comments, spot gold prices reversed the basic trend. Technical analysis of gold price Gold has dropped significantly since reaching the key resistance area around $2,340 – $2,345 which is the confluence of the 0.618 Fibonacci retracement, the $2,345 horizontal resistance and the 21 EMA. Gold fell back to operating around the 2,305 - 2,300 USD area to maintain the main downtrend from the price channel. In the short term, the raw price level of $2,300 will be the closest support and if gold continues to break below this technical level it will open up the possibility of continuing towards the target at $2,286. Even if gold recovers, during the day it will still be limited by the $2,324 level, its technical direction will still lean to the downside. Support: 2305 - 2291 - 2286 - 2280- 2274 Resistance: 2316 - 2321 - 2325 - 2333 - 2338 SELL price range 2319 - 2321 stoploss 2325 BUY price range 2270 - 2268 stoploss 2264
OANDA:XAUUSD
by TVS-Trader
THE KOG REPORTKOG REPORT: In last week’s KOG Report we said we wanted the lower support level to hold up the price to give us the opportunity to long into the order region above, which gave us a fantastic start to the week. We then said we wanted to short from the order region back down, but due to FOMC and CPI we would be looking for extreme levels above. Once price re-entered our order region we did continue with the plan but the range and accumulation meant we couldn’t complete the move down that we wanted, however, still getting a decent trade down. So, what can we expect in the week ahead? Simple one this week! We have potential to start the week with short movement within the range we have plotted on the chart. The resistance level above sits at 2345-50 which needs to hold the price down for us to see a further move downside into the lower support region below, and potentially complete our plan from last week’s KOG Report. Support 2320 is the hurdle this week and needs to be broken forcefully for us to then have more confidence in the move. The problem we have this week again is this sideways range, and for that reason we’re going to throw a curveball into the mix, which we need traders to be extremely careful of. IF that resistance level above breaks, and we bounce aggressively from below, there is a huge chance we’re going to see this attempt to take liquidity from the higher regions 2370-5 which is a key level for this week and also the extension of the move. So please, traders make sure to stick with your risk model, we’ll trade it the KOG way, level to level, stay the right side of it and expect some extreme movement. KOG's Bias for the week: Bearish below 2345 with targets below 2320 and below that 2295 Bullish on break of 2345 with targets above 2355 and above that 2370 As above, it’s a short one this week, we’ll update it as we usually do during the course of the week. Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
12