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Gold price adjusts below $2,300 next week✍️ NOVA hello everyone, Let's comment on gold price next week from 4/29 - 5/3/2024 🔥 World situation: Gold price falls as US inflation data exceeds expectations, dampening hopes of Fed rate cuts. Annual underlying inflation rises to 2.7% but slows from February's 2.8%. Monthly inflation in line with expectations. Positive for bond yields and USD. 🔥 Identify: Gold price has formed the DOW theory and is in a FIBONACCY correction. Expect prices below $2,300 next week 🔥 Technically: Based on the resistance and support areas of the gold price according to the H4 frame, NOVA identifies the important key areas as follows: Resistance: $2400, $2430, $2455 Support : $2284, $2212 🔥 NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
OANDA:XAUUSDShort
by Nova-Scalper
1
Will the price of Gold continue to DECREASE or not?⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: Gold prices made modest gains during the North American session on Thursday, increasing by over 0.5% after the release of important economic data from the United States (US). The GDP figures for the first quarter of 2024 fell short of expectations, leading to speculation that the US Federal Reserve (Fed) may reduce borrowing costs. However, there was a significant jump in inflation for the same period, which could delay the Fed's plans to lower interest rates. XAU/USD is trading at $2,330 after rebounding from daily lows of $2,305, thanks to higher US Treasury yields resulting from a resurgence in inflation. Analysts had predicted that the US economy would slow down in 2024, but it missed the mark by a whole percentage point in Q1. This would maintain the narrative of a "soft landing," but underlying inflation for Q1 2024 increased by 3.7% QoQ, surpassing estimates and overshadowing the 2% recorded in Q4 2023. ⭐️ Personal comments NOVA: Gold's DOWN correction wave is forming, FIBONACCY shows that wave 2 is developing. Currently, the price continues to fluctuate sideways from $2300 - $2350 ⭐️ SET UP GOLD PRICE: 🔥BUY GOLD zone: $2300 - $2302 SL $2295 TP1: $2315 TP2: $2330 TP3: $2345 🔥SELL GOLD zone: $2347 - $2349 SL $2355 TP1: $2340 TP2: $2325 TP3: $2310 ⭐️ Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order. ⭐️ NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
OANDA:XAUUSDShort
by Nova-Scalper
7
Prioritize the DOWN trend - GDP news today⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: Gold made some recovery on Wednesday after experiencing two consecutive negative sessions at the start of the week, as geopolitical risks subsided. Despite better-than-expected economic data from the United States (US), a strong US Dollar, and higher US Treasury yields, buyers of the precious metal took advantage of the recent dip. However, by the end of Wednesday, gold closed with a 0.25% loss. The XAU/USD is currently trading at $2,317, down by 0.05%. The tensions in the Middle East appear to have eased after the exchange of fire between Iran and Israel. The expectations for a Federal Reserve (Fed) rate cut in June and July have dissipated, as many market participants now believe that the fed funds rate will be reduced for the first time in September 2024. ⭐️ Personal comments NOVA: Price is moving sideways around the $2310 - $2330 range, but is trending DOWN. Predicting today's GDP news is good for the dollar, Gold continues to DECREASE in correction ⭐️ SET UP GOLD PRICE: 🔥BUY GOLD zone: $2270 - $2268 SL $2263 TP1: $2278 TP2: $2285 TP3: $2300 🔥SELL GOLD zone: $2339 - $2341 SL $2346 TP1: $2325 TP2: $2310 TP3: $2290 ⭐️ Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order. ⭐️ NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
OANDA:XAUUSDShort
by Nova-Scalper
6
Gold is forming a correction rhythm ! Increase⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: Gold price fell slightly on Tuesday in the North American session due to a weaker-than-expected S&P Global Purchasing Managers Index (PMI) report. Despite the Greenback's weakness, buyers were unable to take advantage, while US Treasury yields declined. XAU/USD traded at $2,323, down 0.11%. The US 10-year Treasury yield remained steady at 4.402%, while US real yields, which have an inverse relationship with gold prices, dropped 0.41% to 2.192%, benefiting the precious metal. ⭐️ Personal comments NOVA: Gold prices are showing a downward adjustment after a strong price increase in early April. They will continue to decrease after military tensions show signs of cooling down. ⭐️ SET UP GOLD PRICE: 🔥BUY GOLD zone: $2283 - $2285 SL $2278 TP1: $2295 TP2: $2302 TP3: $2310 🔥SELL GOLD zone: $2347 - $2350 SL $2355 TP1: $2335 TP2: $2320 TP3: $2300 ⭐️ Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order. ⭐️ NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
OANDA:XAUUSDShort
by Nova-Scalper
1
BREAK 2360, Gold price adjusted DOWN⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: The price of gold (XAU/USD) experienced a significant drop of over 2% on Monday, marking its largest daily decline since June 13, 2022. This decrease was primarily attributed to diminishing concerns about a broader conflict in the Middle East, which led to a reduced demand for traditional safe-haven assets. Additionally, the non-yielding yellow metal was dragged down below $2,300 levels, reaching a two-week low during the Asian session on Tuesday, due to decreased expectations of interest rate cuts by the Federal Reserve (Fed). As a result of this recent decline, the price of gold has now corrected by more than 5% from its all-time high reached earlier this month. However, it is expected that any further decline in the price will be limited, as there is speculation that major central banks will implement interest rate cuts later this year. In light of this, traders may choose to adopt a more cautious approach and refrain from making aggressive bets, opting instead to wait on the sidelines ahead of this week's significant macroeconomic releases in the United States. These releases will commence with the flash PMIs on Tuesday. ⭐️ Personal comments NOVA: Gold price dropped sharply, BREAK through the $2360 area, entering a corrective wave around the $2300 area ⭐️ SET UP GOLD PRICE: 🔥BUY GOLD zone: $2285 - $2283 SL $2278 TP1: $2295 TP2: $2302 TP3: $2310 🔥SELL GOLD zone: $2325 - $2327 SL $2332 TP1: $2315 TP2: $2300 TP3: $2290 ⭐️ Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order. ⭐️ NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
OANDA:XAUUSDShort
by Nova-Scalper
10
BTC !! Adjust before HAVING zone 60,000⭐️ Smart investment, Strong finance ⭐️ CRYPTO INFORMATION: Bitcoin's price has experienced a significant decline since April 9. However, the downward trend has become more pronounced in recent days due to three primary factors. Firstly, the escalating confrontation between Iran and Israel has contributed to the market's unease. The former Mossad intelligence chief's statement suggesting a potential strike on Iran's nuclear facilities has heightened tensions and caused panic among investors. As a result, many are seeking refuge in traditional assets like gold and silver, further impacting Bitcoin's price. Secondly, Federal Reserve Chair Jerome Powell's recent hawkish stance has added to the market uncertainty. In a Tuesday announcement, Powell expressed the Fed's continued lack of confidence in inflation levels. He indicated that interest rates may remain higher for an extended period. This unexpected reversal caught the market off guard, as it had been anticipating a rate cut in June. Now, there is doubt regarding the possibility of any rate cuts in the near future. Lastly, the ongoing COVID-19 pandemic and its impact on global economies have also played a role in Bitcoin's price crash. As countries struggle to contain the virus and deal with its economic repercussions, investors are becoming increasingly cautious and seeking safer investment options. These catalysts, combined with other market factors, have contributed to the current decline in Bitcoin's price. ⭐️ Personal comments NOVA: BTC corrects around $60,000 before HAVING. Price range $50,000 - $52,000 is a good price range for the uptrend period to begin ⭐️ SET UP BTC PRICE: 🔥SELL BTC zone: $64.200 - $63.900 SL $64.700 TP1: $63.000 TP2: $61.500 TP3: $60.000 🔥 BUY BTC zone: $60.000 - $60.200 SL $59.400 TP1: $61.500 TP2: $62.200 TP3: $63.000 ⭐️ Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order. ⭐️ NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
Short
by Nova-Scalper
3
Carvana Co. Class AKey arguments in support of the idea. • Declining used car prices in the U.S. could weigh on the Company's sales. • Carvana's high debt burden remains a significant risk. Investment Thesis Carvana Co. (CVNA) is one of the largest online-only used-car retailers in the U.S. The Company performs almost all the functions a physical dealer would offer, including buying and selling cars. Carvana is known for its network of vending machine car dealerships, where buyers can pick up their purchased cars, avoiding lengthy communications and checkout procedures. As of December 31, 2023, the Company operated in 316 major U.S. cities. Used car prices in the U.S. are trending down. The Manheim Used Vehicle Value Index, which is one of the key indicators of used car prices, has shown monthly drops of more than 10% since the beginning of the year against the values of the previous year. The downward trends in prices are being observed not only in the wholesale used car market, but also in the new car market. American automakers in their forecasts for 2024 note that they expect some decrease in selling prices. These assumptions suggest that Carvana's revenue may remain under pressure this year after the Company's 2023 earnings showed a 20% y/y decline. Carvana's cost-cutting initiatives to achieve positive operating margins may not succeed. The Company remains unprofitable at the operating profit level, but its growing debt burden is forcing Carvana to focus on margin expansion. As part of its cost-cutting plan, Carvana has significantly reduced advertising spending and optimized personnel costs, but overall overhead expenses per car sold increased to $1,741 in the third quarter of 2023, up from $800 in the first half of 2021. The reduction in advertising expenses per vehicle sold by more than 20% y/y in 2023 may have contributed to the decline in revenue last year, although it helped reduce the share of total administrative expenses as part of revenue. Carvana's high debt burden remains a major risk to the stock. We see that the Company had $960 million on its balance sheet at the end of last year, which is lower than the size of Carvana's adjusted net loss for the year. The Company has nearly exhausted its ability to raise new financing through debt accumulation. On September 11, 2023, S&P assigned its 'CCC+' credit rating to Carvana, reflecting an increased risk of default on its obligations. Net Debt/EBITDA'2024 is currently estimated at 14x based on FactSet's 2024 EBITDA consensus forecast. In the coming quarters, the Company may need additional financing through the sale of shares. This step could have a significant negative impact on the stock. We believe that in the short term Carvana Co. stock may end up in negative zone. We maintain a Sell rating on CVNA stock with a price target of $60. A stop-loss order is recommended at $78.
NYSE:CVNAShort
by FreedomHolding
Gold is still in an Uptrend - waiting for a DOWN rhythm⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: The price of gold began the week on a positive note, rising in early trading. This increase was primarily driven by the escalating conflict between Iran and Israel over the weekend. Concerned investors sought refuge in gold, a traditional safe haven, as they prepared for the new week after Iran's drones attacked Israel on Saturday evening. The price of gold continues to be supported by market fears that Iran's unprecedented strike on Israel could lead to retaliatory actions. However, there is some comfort for the markets as the UK, France, and Egypt have condemned Iran's actions, and Saudi Arabia has called for restraint. This has helped to improve risk sentiment, creating a more favorable atmosphere in early Asian trading. ⭐️ Personal comments NOVA: Still within the two upward trend lines - buying volume is decreasing. Wait for a downward adjustment ⭐️ SET UP GOLD PRICE: 🔥BUY GOLD zone: $2329 - $2327 SL $2322 scalping TP1: $2335 TP2: $2340 TP3: $2350 🔥BUY GOLD zone: $2305 - $2303 SL $2297 TP1: $2312 TP2: $2325 TP3: $2335 🔥SELL GOLD zone: $2381 - $2383 SL $2388 TP1: $2370 TP2: $2360 TP3: $2350 ⭐️ Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order. ⭐️ NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
OANDA:XAUUSDShort
by Nova-Scalper
7
PPI - will Gold prices continue to adjust downward?⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: Gold price (XAU/USD) fell on Wednesday due to strong US consumer inflation figures, which reduced expectations of a rate cut by the Federal Reserve. However, it recovered during the Asian session on Thursday amid a weaker tone in equity markets. The prolonged higher interest rates by the Fed and concerns over the Middle East crisis are causing investors to turn to Gold as a safe-haven asset. Additionally, profit-taking in the US Dollar and lower US Treasury bond yields are also supporting Gold. Traders are now focusing on the US PPI data and Fedspeak for potential trading opportunities. ⭐️ Personal comments NOVA: After yesterday's CPI data, suddenly all is well for the dollar. Today, another index assessing the level of US inflation PPI is predicted to continue to be positive for the dollar. Gold is under downward pressure ⭐️ SET UP GOLD PRICE: 🔥BUY GOLD zone: $2305 - $2303 SL $2297 TP1: $2312 TP2: $2320 TP3: $2330 🔥SELL GOLD zone: $2353 - $2355 SL $2360 Asian and European trading sessions TP1: $2345 TP2: $2338 TP3: $2330 ⭐️ Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order. ⭐️ NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
OANDA:XAUUSDShort
by Nova-Scalper
5
Gold Correction Due - before this week market closePEPPERSTONE:XAUUSD Following the principles of #ElliotWaves, when waves 1 and 3 form without any extension, then wave 5 tends to make approximately the same magnitude in the same amount of duration. Wave 1 - Magnitude - ~ $76+ in ~ 2 D and 17 hrs Wave 5 - Magnitude also made ~ $76+ (Short of 60 cents) in ~ 2D 11 hrs as of this post. In this scenario, when there was no extension in the impulse waves, the correction would be till 0.618 to .50 Fib Retracement Level 2226 - 2200 Range.
PEPPERSTONE:XAUUSDShort
by MendiUser
3
Gold price approaches $2,300 price expectation⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: The price of gold (XAU/USD) has surged to record highs of nearly $2,250 per troy ounce in the early Asian session on Monday. This increase is driven by several factors, including the anticipation of a shift in monetary policy by the Federal Reserve (Fed) in the second half of 2024, ongoing geopolitical tensions in the Middle East, and hopes for China's economic recovery. The possibility of central banks implementing looser monetary policies could further drive up the price of gold. Currently, financial markets have factored in a 68.5% chance of a quarter-point interest rate cut by the US Fed before June, according to the CME Fedwatch Tool. Fed Chairman Jerome Powell affirmed on Friday that the recent inflation data in the US aligns with their expectations, maintaining their stance on potential interest rate cuts this year. It is important to note that lower interest rates could make gold a more attractive investment since it doesn't generate interest. ⭐️ Personal comments NOVA: The FOMO from the market is huge, the new peak of Gold is gradually reaching $2300 according to experts. ⭐️ SET UP GOLD PRICE: 🔥BUY GOLD zone: $2236 - $2234 SL $2230 TP1: $2242 TP2: $2255 TP3: $2267 🔥SELL GOLD zone: $2265 - $2267 SL $2272 TP1: $2260 TP2: $2250 TP3: $2236 ⭐️ Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order. ⭐️ NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
OANDA:XAUUSDShort
by Nova-Scalper
12
Tilray approaching a swing trade and/or shorting opportunityNASDAQ:TLRY is approaching a resistance range and is at the top of a W pattern. It's rsi is also overbought above the 70 level. Volume is also trending upwards and has reached the level where the previous volume high (and price trend reversal) was. The trading opportunity is around the 3 scenarios shown in the chart, with, due to the technical indicators mentioned above, scenario 2 and then 3 being the most likely. Trading approach would be to wait until after the quarterly earnings are released and see if: Scenario 1 The price breaks above the resitance range, apply a 3 day filter to ensure it's not a fakeout, and swing trade upwards to approx. $3. Scenario 2 A more likely scenario, the price starts to decline and enter then enter into a short with a take profit at $1.60. Exact entry point for the trade might be difficult to determine, especially as the previous moves in price have been so explosive that there may not be an optimum tim eto enter, thus shorting would be a higher risk trade. Scenario 3 Wait until the price reaches the support level since November 2023 (approx. $1.6) and enter a swing trade back up to the resistance range with an exit at approx. $2.5. To reduce risk, enter the swing with a combination of the RSI being at 30 and/or a 3 day filter to reduce the risk of the price breaking down from $1.6 to a new low. Scenario 3.5 Same as scenario 3 but with the support level being around the DMAs and price range where the price movement faced some resistance on it's way up during mid-March 2024. A more likely scenario, the price starts to decline and enter then enter into a short with a take profit at $1.60. Exact entry point for the trade might be difficult to determine, especially as the previous moves in price have been so explosive that there may not be an optimum time to enter, thus shorting would be a higher risk trade. NOTE: Those with a risk appetite large enough may use the technical indicators mentioned in the first paragraph as enough of a comfirmation to enter a risky short trade: Entry point: Now ($2.45) Stop Loss: $2.70 Take Profit: $1.60 Risk:Reward ratio: 1:3
NASDAQ:TLRYShort
by slip_stream
5
Gold moves in a wide range, sideways⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: The price of gold (XAU/USD) is struggling to take advantage of the small gains made the previous day and is moving within a narrow range around the $2,170 mark during the Asian session on Tuesday. However, caution is advised before placing aggressive bearish bets on the precious metal and expecting a continuation of the recent significant decline from the record high near the $2,223 area reached last Thursday. Last week, the Federal Reserve (Fed) projected a less restrictive monetary policy in the future and indicated that it remains committed to reducing interest rates by 75 basis points this year. As a result, the US Dollar (USD) bulls are on the defensive, which benefits the non-yielding gold price. Additionally, escalating geopolitical tensions are supporting the safe-haven XAU/USD and should help limit any significant downward movement. ⭐️ Personal comments NOVA: The price range of $2150 - $2190 becomes the sideway range of Gold price, waiting to break the trend ⭐️ SET UP GOLD PRICE: 🔥BUY GOLD zone: $2150 - $2152 SL $2145 TP1: $2160 TP2: $2170 TP3: $2180 🔥SELL GOLD zone: $2188 - $2190 SL $2195 TP1: $2180 TP2: $2170 TP3: $2160 ⭐️ Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order. ⭐️ NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
OANDA:XAUUSDShort
by Nova-Scalper
3
Gold price sideway is stable above $2150 - $2180⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: The price of gold (XAU/USD) remains above the mid-$2,100s in the early hours of Asian trading on Monday. The increase in the value of the yellow metal is supported by the likelihood that the US Federal Reserve (Fed) may reduce interest rates later this year. Traders are anticipating the release of the US Gross Domestic Product (GDP) figures for the fourth quarter (Q4), which are expected to stay stable at 3.2%, in order to gain new momentum. Currently, the price of gold is trading around $2,168, with a gain of 0.15% for the day. Last week, after its March meeting, the Fed decided to keep its benchmark interest rate unchanged within the range of 5.25% to 5.50% for the fifth consecutive time. Fed Chairman Jerome Powell hinted that the central bank was planning three interest rate cuts in 2024, which increased investor demand for the precious metal and caused the price of gold to rise. According to the CME FedWatch Tool, investors have priced in a 72% chance that the Fed will begin cutting rates at the June meeting, up from 65% before the rate decision. ⭐️ Personal comments NOVA: After the terrorist incident in Russia, Gold price increased slightly and returned to above $2170. Stable sideway $2150 - $2180 continues to wait for new moves and information from the FED ⭐️ SET UP GOLD PRICE: 🔥BUY GOLD zone: $2150 - $2152 SL $2145 TP1: $2160 TP2: $2170 TP3: $2180 🔥SELL GOLD zone: $2183 - $2185 SL $2190 TP1: $2175 TP2: $2165 TP3: $2150 ⭐️ Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order. ⭐️ NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
OANDA:XAUUSDShort
by Nova-Scalper
1