Get started

Reversalpattern

XAUUSD | Price Action | New perspective | follow-up detailsGold clings firmly to its coveted $1,900 handle! The stage is set for an intriguing turn of events, especially in the wake of a milder-than-anticipated U.S. jobs report for June. This unexpected twist suggests a potential dampening of the Federal Reserve's hawkish stance as its policymakers prepare for their upcoming rate review in three weeks. In the face of this economic backdrop, gold staged a remarkable rally following the Labor Department's revelation on Friday that June witnessed a lower-than-expected addition of 209,000 new hires, with revised figures for May at 306,000 (a downward adjustment of 33,000), the unemployment rate exhibited a decline from 3.7% to 3.6% in June. Moreover, average hourly earnings saw a mirrored increase of 0.4%, matching May's growth. While the mid-week exerted pressure on gold, it emerged triumphant, holding firm above the $1,900 mark and even recovering some of its losses. This feat has set the stage for a potential surge in bullish momentum, teasing us with anticipation for the week ahead. The prevailing market sentiment remains unabashedly bullish, with traders seizing the momentary weaknesses as an opportune time to enter the market. XAUUSD Technical Analysis (Price action): In this video, we delve deep into a comprehensive examination of price action, as we carefully study accumulation and distribution patterns. By scrutinizing past price movements, decoding market behaviors, identifying recurring trends, and pinpointing significant support and resistance levels, we have unearthed invaluable insights into the motivations and actions of both buyers and sellers. In this regard, we have placed particular emphasis on the key level at $1,930 which will serve as our yardstick for the upcoming week. This pivotal threshold holds the power to sway the direction of price action in the upcoming week, making it a focal point of utmost importance. The reactions observed within this zone, especially during the first half of the week, will serve as indispensable indicators, guiding our trading decisions. Prepare yourself to seize the opportunity that lies ahead! Armed with my updates and precise analysis, you'll be equipped to make well-informed and strategic trading choices throughout the week. The stage is set, the spotlight is on, and the drama of the gold market awaits your presence. Stay tuned for an exhilarating journey that will empower you to navigate the labyrinth of trading with confidence and finesse. Disclaimer Notice: Please be aware that margin trading in the foreign exchange market, including commodity trading, CFDs, stocks, and other instruments, carries a high level of risk and may not be suitable for all investors. The content of this speculative material, including all data, is provided by me for educational purposes only and to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not assume any responsibility for its accuracy. It is important that you carefully evaluate your investment experience, financial situation, investment objectives, and risk tolerance level. Before making any investment, it is advisable to consult with your independent financial advisor to assess the suitability of your circumstances. Please note that I cannot guarantee the accuracy of the information provided, and I am not liable for any loss or damage that may directly or indirectly result from the content or the receipt of any instructions or notifications associated with it. Remember that past performance is not necessarily indicative of future results. Keep this in mind while considering any investment opportunities.
PEPPERSTONE:XAUUSD
by darcsherry
3
GBPUSD Weekly Outlook: New perspective for the week | Follow-upIn the previous week, the growth of the Pound Sterling unfolded before our eyes, defying the weight of higher interest rates imposed by the Bank of England (BoE) on households in the United Kingdom. Despite this burden, prices surged and fearlessly tested the psychological resistance level of 1.28500 for the third consecutive week. Furthermore, the Pound capitalized on the U.S. non-farm payroll data falling short of expectations. On Friday, the Labor Department revealed that June saw a lower-than-expected addition of 209,000 new hires, with May's figures revised downward by 33,000 to 306,000. However, amidst this backdrop, the unemployment rate experienced a decline from 3.7% to 3.6% in June, while average hourly earnings mirrored the previous month's growth, increasing by 0.4%. Market sentiments are strongly suggesting that the Bank of England is poised to further raise interest rates, driven by the fact that U.K. inflation remains the highest among developed nations. This sentiment could potentially fuel an ongoing uptrend as investors eagerly seek higher yield returns from the Pound. Let's now delve into the GBPUSD Technical Analysis, specifically focusing on price action within the 4-hour timeframes. Our comprehensive analysis explores both the bullish and bearish sentiments, uncovering potential trading opportunities for the upcoming week. We meticulously examine key levels, trendlines, and support and resistance levels to unveil crucial insights into the current market structure. We are going to keep a close eye on the key level for the new week, situated at $1.28500, which underwent multiple tests in the last 3 weeks hereby revealing the presence of sellers at this critical juncture. The market's reaction to this zone at the beginning of the upcoming week will play a pivotal role in shaping the direction of price action in the days that follow. Stay connected to the channel and actively engage in the comment section to stay informed about the latest updates and developments. Thank you for watching, and I am thrilled to provide you with further insights into my upcoming content on the GBPUSD. Disclaimer: Trading on margin in the foreign exchange market (including commodities, CFDs, stocks, etc.) carries a high level of risk and may not be suitable for all investors. The content of this speculation (including all data) is provided by me for educational and informational purposes only to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not accept any responsibility for its accuracy. It is important that you carefully consider your investment experience, financial situation, investment objectives, and risk tolerance level, and seek advice from an independent financial advisor to assess the suitability of your situation before making any investment. I do not guarantee the accuracy of the information provided and shall not be held liable for any loss or damage that may arise directly or indirectly from the content or the receipt of any instructions or notifications related to it. Please note that past performance is not necessarily indicative of future results.
by darcsherry
1
FRGE-setup for bullish continuation from a pullback LONGFRGE hin the past couple of trading days has had a 20% pullback consistent with a 50% Fib retracement of the prior trend up which occurred over 2 weeks. Bullish divergence on the two time frame RSI indicator where the lower TF RSI bounced up from the 20 level in oversold territory suggests a reversal is impending. So does the mass index indicator with a value in the reversal zone awaiting a trigger with a drop below 26.5. The range of the HA candles have suddenly decreased and the color red to green. I will take pullback going long trade here expecting a quick 10-20% profit while targeting 2.88 just below the POC line of the visible range volume profile. The volume void from 2.6 to 2.8 should allow for quick upward price action as the void needs to be filled.
NYSE:FRGELong
by AwesomeAvani
GEOV a penny stock in the rising EV SectorAs shown on the 1H chart, GOEV printed a head and shoulder pattern June 16 to 19 and then trended down consistent with that pattern. The trend was supported by the 2nd VWAP line under the mean in a VWAP anchored at the beginning of the descent. H & S. The volume volume profile shows that trading volume is distributed widely across a big range of prices showing high volatility. Price has trended through a round bottom reversal. I see the likely scenario as price crossing the mean VWAP and ascending toward the horizontal resistance of the neckline of the H & S. I will take this long trade with a potential upside of nearly 50 % (0.47 to target of 0.69). As an aside, the EV sector is general is on the heat map. I have uploaded ideas on FSR NKLA WKHS and PLUG (LCID NIO and TSLA are of interest.)
NASDAQ:GOEVLong
by AwesomeAvani
🔥 RNDR Bullish Channel Reversal With Massive Risk-Reward RNDR is one of the better performing alts of 2023, hence my patience for the token to look for optimal reversal points. As of today, RNDR has successfully confirmed a potential reversal from the bottom support. This trade is based on the idea that the bottom is in and that the price will reverse back towards the top of the channel. Target at 3.50, or the top resistance, whichever comes first. Stop below the recent low. Combines, this gives us a very decent R/R of almost 13. Also note that the top resistance is an exact copy of the bottom support.
RLong
by FieryTrading
2
AUDCAD 60 MINS SELL SETUP The Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart). Note: Its my view only and its for educational purpose only. Only who has got knowledge about this strategy, will understand what to be done on this setup. its purely based on my technical analysis only (strategies). we don't focus on the short term moves, we look for only for Bullish or Bearish Impulsive moves on the setups after a good price action is formed as per the strategy. we never get into corrective moves. because it will test our patience and also it will be a bullish or a bearish trap. and try trade the big moves. we do not get into bullish or bearish traps. We anticipate and get into only big bullish or bearish moves (Impulsive Moves). Just ride the Bullish or Bearish Impulsive Move. Learn & Know the Complete Market Cycle. Buy Low and Sell High Concept. Buy at Cheaper Price and Sell at Expensive Price. Keep it simple, keep it Unique. please keep your comments useful & respectful. Thanks for your support.... Tradelikemee Academy
Short
by Tradelikemee
6
VLO Reversal Pattern - Pump to $127🐂 Trade Idea: Long - VLO 🔥 Account Risk: 1.00% 📈 Recommended Product: Knockout / Option 🔍 Entry: +/- 116.75 🐿 DCA: No 😫 Stop-Loss: 107.99 🎯 Take-Profit #1: 127.09 (75%) 🎯 Trail Rest: Yes 🚨🚨🚨 Important: Don’t forget to always wait for strong confirmation once possible entry zone is reached. Trade ideas don’t work all the time no matter how good they look. Do not get a victim of FOMO, there is always another trade idea waiting. 🚨🚨🚨 If you like what you see don’t forget to leave a comment 💬 or smash that like ❤️ button! — What we see here is a typical reversal pattern. We gain the 114 level downward but fail to hold it and gain the 114 level again in an upward movement which is also the former lower low. If you’re more of a break out trader you can trade this setup directly long with a target at 127 and a stop-loss at 108. We’ve held this level for six days so far. If you want to make sure the trade is safer wait for a re-test around 116-114 and trade the long after a strong rejection. If you prefer the re-test make sure to put your stop-loss to 111-112 because you don’t want to see more downward pressure from that point on. — Disclaimer & Disclosures pursuant to §34b WpHG The trades shown here related to stocks, cryptos, commodities, ETFs and funds are always subject to risks. All texts as well as the notes and information do not constitute investment advice or recommendations. They have been taken from publicly available sources to the best of our knowledge and belief. All information provided (all thoughts, forecasts, comments, hints, advice, stop loss, take profit, etc.) are for educational and private entertainment purposes only. Nevertheless, no liability can be assumed for the correctness in each individual case. Should visitors to this site adopt the content provided as their own or follow any advice given, they act on their own responsibility.
NYSE:VLOLong
by LGNDRY-Capital
1
MRF - 60 MINS TIME FRAMEThe Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart). Note: Its my view only and its for educational purpose only. Only who has got knowledge about this strategy, will understand what to be done on this setup. its purely based on my technical analysis only (strategies). we don't focus on the short term moves, we look for only for Bullish or Bearish Impulsive moves on the setups after a good price action is formed as per the strategy. we never get into corrective moves. because it will test our patience and also it will be a bullish or a bearish trap. and try trade the big moves. we do not get into bullish or bearish traps. We anticipate and get into only big bullish or bearish moves (Impulsive Moves). Just ride the Bullish or Bearish Impulsive Move. Learn & Know the Complete Market Cycle. Buy Low and Sell High Concept. Buy at Cheaper Price and Sell at Expensive Price. Keep it simple, keep it Unique. please keep your comments useful & respectful. Thanks for your support.... Tradelikemee Academy
NSE:MRFShort
by Tradelikemee
USDJPY Forecast: Insights for the New Week & Follow-Up AnalysisIn this video, we delve into a comprehensive technical analysis of USDJPY, focusing on its bullish and bearish sentiments through price action analysis. Join us as we uncover potential trading opportunities for the upcoming week by identifying key support and resistance levels within the 4-hour timeframe. On Friday, the Japanese Yen experienced a decline after a three-and-a-half-day struggle, fueled by the strengthening of the US dollar. This was in response to Federal Reserve Chair Jerome Powell's reiterated stance on the necessity of additional rate hikes. During his two-day testimony before Congress, Powell emphasized that U.S. interest rates may rise at least twice more this year to counteract high inflation. Market reactions to Powell's comments led to a significant increase in the likelihood of further rate hikes in July, with markets pricing in a nearly 75% chance of such action. Data released from the Japanese economic docket on Friday indicated that consumer inflation slightly exceeded expectations for the 12-month period up to May. However, a core reading excluding food and fuel prices surged to a 42-year high, indicating persistent inflationary pressures in Japan. These trends are placing increased pressure on the Bank of Japan to consider tightening its monetary policy, although the bank has recently reiterated its commitment to maintaining its ultra-loose policy. Nonetheless, the potential for Japanese monetary policy tightening may contribute to a resurgence in the yen, which has faced considerable downward pressure due to the dovish stance of the Bank of Japan. Additionally, the Japanese currency is rapidly approaching levels that could prompt government intervention in currency markets. USDJPY Technical Analysis (Price Action): In this video, I offered an extensive analysis of the USDJPY market's current structure, with a primary focus on price action-based technical analysis. Special attention was given to key support and resistance levels within the 4-hour timeframe, uncovering potential trading opportunities for the upcoming week. Notably, I highlighted a key level around 143.900, which was recently tested and represents the highest price reached this year. The market's response to this level at the start of the new week will play a pivotal role in determining the direction of price action in the upcoming week. Stay connected to my channel, follow my updates, and actively engage in the comment section to stay informed about further technical developments in the USDJPY market. I wish you the best of luck this week as you navigate the USDJPY market. Disclaimer: Trading on margin in the foreign exchange market (including commodities, CFDs, stocks, etc.) carries a high level of risk and may not be suitable for all investors. The content of this speculation (including all data) is provided by me for educational and informational purposes only to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not accept any responsibility for its accuracy. It is important that you carefully consider your investment experience, financial situation, investment objectives, and risk tolerance level, and seek advice from an independent financial advisor to assess the suitability of your situation before making any investment. I do not guarantee the accuracy of the information provided and shall not be held liable for any loss or damage that may arise directly or indirectly from the content or the receipt of any instructions or notifications related to it. Please note that past performance is not necessarily indicative of future results.
by darcsherry
1
GBPUSD Weekly Outlook: New perspective for the week | Follow-upThis video provides a comprehensive analysis of the bullish and bearish sentiment in GBPUSD, focusing on price action-based technical analysis of support and resistance levels within the 4-hour timeframe. In the previous week, Federal Reserve Chair Jerome Powell emphasizes the necessity for further rate hikes, and adding to the market volatility, the Bank of England surprises with a larger-than-expected rate hike, causing a stir in investor sentiment. This bullish attempt is evident on the charts around the $1.27000 zone, reflecting a momentary boost following the Bank of England's 50 basis point increases to a nearly one-year high. Traditionally, higher interest rates lend support to currencies, but the Pound Sterling faces the risk of a potential recession in the U.K., prompting investors to seek refuge in safe-haven assets like the U.S. dollar. U.K. retail sales data, released recently, reveals a 2.1% annual decline in May, further indicating an economic slowdown. On the U.S. economic front, Federal Reserve Chair Jerome Powell concludes his two-day testimony before Congress, reiterating the potential for at least two more interest rate hikes this year to combat rising inflation. Looking ahead, the trajectory of the Pound Sterling will be influenced by upcoming announcements of Gross Domestic Product data from both economies this week. In light of these latest economic developments, questions arise: If the larger-than-expected rate hike from the Bank of England fails to generate positive price movement for the Pound, how will the United Kingdom navigate its persistent inflationary pressures? This video illustrates a comprehensive analysis of the bullish and bearish sentiment in GBPUSD, focusing on a technical examination of support and resistance levels within the 4-hour timeframe. We uncover how these critical levels can unlock potential trading opportunities for the upcoming week. Notably, I highlighted a key level at the $1.27000 zone, coinciding with the ascending trendline identified in the 4H timeframe. The market's response to this zone at the beginning of the week will wield considerable influence over the direction of price action in the days to come. Stay connected to the channel and remain engaged in the comment section to stay informed about the latest updates and developments. Thank you for watching, and I eagerly anticipate providing you with further insights into my future content. Disclaimer: Trading on margin in the foreign exchange market (including commodities, CFDs, stocks, etc.) carries a high level of risk and may not be suitable for all investors. The content of this speculation (including all data) is provided by me for educational and informational purposes only to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not accept any responsibility for its accuracy. It is important that you carefully consider your investment experience, financial situation, investment objectives, and risk tolerance level, and seek advice from an independent financial advisor to assess the suitability of your situation before making any investment. I do not guarantee the accuracy of the information provided and shall not be held liable for any loss or damage that may arise directly or indirectly from the content or the receipt of any instructions or notifications related to it. Please note that past performance is not necessarily indicative of future results.
by darcsherry
1
XAUUSD | Price Action | New perspective | follow-up detailsDespite the less-than-ideal macroeconomic conditions, the gold bull is still putting up a fight. The recent comments made by Powell regarding potential rate hikes have pushed gold to its lowest point in three months. During his semi-annual testimony on the economy, Powell hinted at the likelihood of more rate increases in the coming months, even though the Fed decided to pause on another hike last week. The rise in U.S. interest rates increases the opportunity cost of holding gold. As a result, the gold price experienced a retreat, driven by the strength of the U.S. Dollar Index, breaking below the crucial $1,935 level that had been a strong buying point over the past four weeks. This breakdown was marked by bearish engulfing candles and a notable increase in trading volume. However, buying pressure around the $1,910 level led to a retest of $1,935, creating a situation where the direction of future price action is still uncertain. In this video, we will conduct a thorough analysis of the XAUUSD market, considering both bullish and bearish sentiments, as well as accumulation and distribution patterns. By examining past price patterns, market behavior, recurring trends, and significant support and resistance levels, we aim to gain valuable insights into the potential actions of buyers and sellers in the upcoming week(s). It is important to highlight the key level at $1,935, which will play a crucial role in determining the direction of price action this week. The reactions observed within this zone on Monday will provide valuable indicators, particularly for the first half of the week. Get ready to seize the opportunities that lie ahead! Make sure to stay tuned for updates that will guide our trading decisions throughout the week. Disclaimer Notice: Please be aware that margin trading in the foreign exchange market, including commodity trading, CFDs, stocks, and other instruments, carries a high level of risk and may not be suitable for all investors. The content of this speculative material, including all data, is provided by me for educational purposes only and to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not assume any responsibility for its accuracy. It is important that you carefully evaluate your investment experience, financial situation, investment objectives, and risk tolerance level. Before making any investment, it is advisable to consult with your independent financial advisor to assess the suitability of your circumstances. Please note that I cannot guarantee the accuracy of the information provided, and I am not liable for any loss or damage that may directly or indirectly result from the content or the receipt of any instructions or notifications associated with it. Remember that past performance is not necessarily indicative of future results. Keep this in mind while considering any investment opportunities.
PEPPERSTONE:XAUUSD
by darcsherry
USOILSPOT Weekly Analysis: New Perspective and Follow-Up DetailsDespite three production cuts announced by the Organization of the Petroleum Exporting Countries (OPEC) and its allies since October, including support from the Saudis, crude prices have shown limited improvement. This is unexpected, particularly during a time of the year when oil demand should naturally be strong due to summer travel. The Saudis have expressed their desire to see oil prices reach $80 per barrel or higher by next month, or at least by August. However, external factors beyond their control, namely the decisions made by central banks worldwide, call for patience. From the Federal Reserve to the Bank of England, the European Central Bank, and even the Bank of Canada, there is a race to implement one or two interest rate hikes before the end of the year. Any rate cuts could potentially hinder global growth, which serves as the driving force behind oil demand. The crucial question now is whether the bullish sentiment will prevail as global travel rates are expected to increase in July and August. This surge in travel could lead to a critical shortage of crude oil required by U.S. refineries, especially as the Saudis intentionally reduce their oil supply to that particular destination more than others. Additionally, unless extended, the weekly sales of crude from the Strategic Petroleum Reserve will cease, eliminating one of the tools the Biden administration has utilized to keep prices low. In this video, I offer a comprehensive technical analysis of USOILSPOT, focusing on key supply and demand zones within the 4-hour timeframe. By examining these indicators, our aim is to provide valuable insights into the potential direction of price action for USOILSPOT in the upcoming week. Make sure not to miss out on this valuable technical analysis that will enhance your understanding of the future trajectory of USOILSPOT. Stay ahead of the curve by watching the video now! Disclaimer Notice: Please be aware that margin trading in the foreign exchange market, including commodity trading, CFDs, stocks, and other instruments, carries a high level of risk and may not be suitable for all investors. The content of this speculative material, including all data, is provided by me for educational purposes only and to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not assume any responsibility for its accuracy. It is important that you carefully evaluate your investment experience, financial situation, investment objectives, and risk tolerance level. Before making any investment, it is advisable to consult with your independent financial advisor to assess the suitability of your circumstances. Please note that I cannot guarantee the accuracy of the information provided, and I am not liable for any loss or damage that may directly or indirectly result from the content or the receipt of any instructions or notifications associated with it. Remember that past performance is not necessarily indicative of future results. Keep this in mind while considering any investment opportunities.
FX:USOILSPOT
by darcsherry
Is CVNA setting up a short trade with its pop?CVNA on the 2H chart appears to be retesting the resistance zone established by a head and shoulders pattern over the middle of June. Additionally, on the stochastic RSI it is at a level from which it reversed on May 25th as well as the pivot highs associated with the H & S. While volume is above the running average, it is not a spike and so without high significance. I see CVNA as reversing now or very soon. I will monitor this on a lower time frame and look for an entry. Once I see some indecision HA candles and their color change from green to red accompanied by some volume and/or volatility possibly confirmed by a bearish divergence downtrend on the RSI I will take a short trade and potentially a put option as well. I think short sellers will be stepping in here with volume after the price spike CVNA just completed. I will be among them.
NYSE:CVNAShort
by AwesomeAvani
CLNE Pump to $5.66 in a few Days🐂 Trade Idea: Long - CLNE 🔥 Account Risk: 1.00% 📈 Recommended Product: Knockout / Option 🔍 Entry: +/- 4.90 🐿 DCA: No 😫 Stop-Loss: 4.21 🎯 Take-Profit #1: 5.66 (50%) 🎯 Trail Rest: Yes 🚨🚨🚨 Important: Don’t forget to always wait for strong confirmation once possible entry zone is reached. Trade ideas don’t work all the time no matter how good they look. Do not get a victim of FOMO, there is always another trade idea waiting. 🚨🚨🚨 If you like what you see don’t forget to leave a comment 💬 or smash that like ❤️ button! — Clean Energy has a strong weekly support over multiple years in the 4.00 region that was holding strong the last couple of months. After consolidating bullish inside the bigger box on the top right corner we saw a break-out yesterday. Considering the strong weekly support and the successful break-out with one large candle we can try to catch this trade right away. We do not want to see it falling below the it’s local higher low at around 4.22 which leads to our stop loss just below that. This trade should play out in a couple of days. — Disclaimer & Disclosures pursuant to §34b WpHG The trades shown here related to stocks, cryptos, commodities, ETFs and funds are always subject to risks. All texts as well as the notes and information do not constitute investment advice or recommendations. They have been taken from publicly available sources to the best of our knowledge and belief. All information provided (all thoughts, forecasts, comments, hints, advice, stop loss, take profit, etc.) are for educational and private entertainment purposes only. Nevertheless, no liability can be assumed for the correctness in each individual case. Should visitors to this site adopt the content provided as their own or follow any advice given, they act on their own responsibility.
NASDAQ:CLNELong
by LGNDRY-Capital
1
USDCAD 60 MINS TIME FRAME The Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart). Note: Its my view only and its for educational purpose only. Only who has got knowledge about this strategy, will understand what to be done on this setup. its purely based on my technical analysis only (strategies). we don't focus on the short term moves, we look for only for Bullish or Bearish Impulsive moves on the setups after a good price action is formed as per the strategy. we never get into corrective moves. because it will test our patience and also it will be a bullish or a bearish trap. and try trade the big moves. we do not get into bullish or bearish traps. We anticipate and get into only big bullish or bearish moves (Impulsive Moves). Just ride the Bullish or Bearish Impulsive Move. Learn & Know the Complete Market Cycle. Buy Low and Sell High Concept. Buy at Cheaper Price and Sell at Expensive Price. Keep it simple, keep it Unique. please keep your comments useful & respectful. Thanks for your support.... Tradelikemee Academy
Long
by Tradelikemee
USDJPY Forecast: Insights for the New Week & Follow-Up AnalysisThe Japanese yen experienced a slight decline as the Bank of Japan maintained its ultra-loose policy. However, it managed to recover some of its early losses following the BOJ decision, though it remained close to seven-month lows against the dollar. The BOJ opted to keep interest rates unchanged at record lows and expressed its intention to continue the yield curve control policy in support of economic growth. The bank also forecasted above-average strength in the Japanese economy for the year. The yen had been weighed down by expectations of a dovish BOJ, especially as the Federal Reserve signaled a relatively hawkish stance, indicating a widening gap between Japanese and U.S. interest rates. While the Fed had previously paused rate hikes, it foresees at least two more increases this year due to inflation trending above the central bank's target range. Nevertheless, weak U.S. economic indicators such as slowing industrial production, steady jobless claims, and sluggish retail sales raised doubts about the extent to which the Fed could continue raising interest rates. Anticipated higher U.S. interest rates for a longer period are likely to restrict significant gains in Asian markets. In the upcoming week, we will focus on economic events from both the U.S. and Japan, including the BoJ Monetary Policy Meeting Minutes and the Fed Chair's testimony before Congress. How will these events impact the USDJPY from a technical standpoint? During the video, I provide detailed analysis of the USDJPY's bullish and bearish sentiment, primarily focusing on price action-based technical indicators. We identify key support and resistance levels within the 4-hour timeframe to uncover potential trading opportunities. Notably, we highlight a significant level around 142.000 that was recently tested, and how market participants react to this level at the start of the new week may play a critical role in determining the direction of price action in the upcoming week. Stay connected to our channel, follow our updates, and engage in the comment section to stay informed about further developments in the USDJPY market. Disclaimer: Trading on margin in the foreign exchange market (including commodities, CFDs, stocks, etc.) carries a high level of risk and may not be suitable for all investors. The content of this speculation (including all data) is provided by me for educational and informational purposes only to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not accept any responsibility for its accuracy. It is important that you carefully consider your investment experience, financial situation, investment objectives, and risk tolerance level, and seek advice from an independent financial advisor to assess the suitability of your situation before making any investment. I do not guarantee the accuracy of the information provided and shall not be held liable for any loss or damage that may arise directly or indirectly from the content or the receipt of any instructions or notifications related to it. Please note that past performance is not necessarily indicative of future results.
by darcsherry
SOXS Bearish Leveraged semi-conductors ETFNVDA turned down today while SOXS rose a bit. On the 30 minute chart is shown to have have been trending down but then reversed in the after-hours trading period albeit with the low volumes typical of after-hours. The relative volatility indicator however showed a dramatic reversal and will be beyond the moving average within the indicator. Overall, I see this as a day trade for June 27th. I have marked out a tight stop loss to minimize risk. This trade which I will enter in the premarket is expectant for 8-9% profit and so a reward to risk of 15:1
AMEX:SOXSLong
by AwesomeAvani