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Gold- New ATH this month? Analysis and SpeculationsI've written many posts and made videos expressing my belief that XauUsd will reach a new all-time high (ATH) this year. Now, the question is, will it start with all-time highs this month? In my opinion, it will. But let's begin with why I'm quite certain that Gold will reach an ATH this year. It's relatively straightforward when you examine the monthly chart. You don't need to be a technical analyst to see that the trend is clearly upward. We witnessed a major false break to the downside at the end of 2022, and since then, despite normal corrections, the price has consistently made higher lows. The monthly candle that just started broke above the technical resistance from 2070. Of course, anything is possible, but in my view, the chances of a long-term reversal are pretty low now. To clarify, I'm referring to a reversal in the long term, not just corrections. Now, regarding the next all-time high this month, I'll speculate a bit. Looking at the same monthly chart, the reversal from November 2022 had 1600 pips, representing a rise of 10%, the second reversal from March 2023 had 2000 pips, which represents 11%, and the third and last monthly reversal candle had 1900 pips, which is also 11%. So, we can speculate that this month's candle will also rise by around 10%. Calculating this at the current price, we have around 2000 pips. With the month starting at 2040, we reach 2240. Moreover, if we consider that the reversal actually started at the bottom of last month's Pin Bar, which is at 1980, and add 2000 pips, we also arrive at 2180, which is also an ATH. In conclusion, while I don't have a crystal ball, I expect an ATH this month. However, more importantly, I WILL NOT SELL INTO THIS RALLY, ONLY BUY ON DIPS. Best of luck! Mihai Iacob
OANDA:XAUUSDLong
by Mihai_Iacob
66
RH Options Ahead of EarningsIf you haven`t sold the top on RH, for that fantastic 12.75X gain in the options chain: nor bought the dip here: Then analyzing the options chain and the chart patterns of RH prior to the earnings report this week, I would consider purchasing the 310usd strike price in the money Puts with an expiration date of 2024-3-28, for a premium of approximately $21.85. If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
NYSE:RHShort
by TopgOptions
1
Gold- It will break 2.2k?In my Monday analysis, I emphasized that as long as the price of OANDA:XAUUSD remains above 2150, its bullish momentum persists, potentially leading to another test of 2.2k. True to this forecast, the price adhered to the pattern, briefly dipping during Monday's session, only to retest the 2.2k mark again yesterday. Currently, the price stands at 2190, suggesting an imminent attempt to breach the 2.2k level once more. My strategy moving forward continues to be buying on dips, as I anticipate a new all-time high.
OANDA:XAUUSDLong
by Mihai_Iacob
GBPCAD BUY | Trading AnalysisHello Traders, here is the full analysis. The completed correction, recovery and formation, continuation of growth. GOOD LUCK! Great BUY opportunity GBPCAD I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗 Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
Long
by TheGrove
1
Lingrid | GOLD Market Weekly OUTLOOKThis week the price of OANDA:XAUUSD made ATH and went down, as I predicted in my last weekly forecast . Clearly, gold prices are under downward pressure. The strength of the CAPITALCOM:DXY often moves in the opposite direction to gold, making it less attractive when the dollar is strong. The recent false breakout of the resistance zone in gold price action, as well as the bearish RSI divergence, point to potential weakness in the future. However, it is important to keep an eye on market movements, as things can change quickly.  On the weekly timeframe, we have a huge long-tailed bar that shows that the price took liquidity above previous resistance and fell below it. An important thing to keep in mind is the previous week's low. If the price breaks below this level, we might have a bearish move towards the strong support at 2100. Another scenario can be a retest of the 50% retracement level of the weekly candle and then move downwards. On the daily timeframe, basically, we have pretty much the same picture: a long-tailed bar and price/time symmetry double top, except for the long tail with divergence, as I mentioned above. This implies there is a possibility of gold prices falling towards the 2100 level, which was previously considered a strong resistance. Overall, I expect a pullback because the market seems overextended. Alternatively, the market may just move sideways. It is important to remain cautious and adaptive in the face of market volatility in the next week, as we all know trends do not always follow a linear path.  Traders, if you like this idea or have your own opinion on this matter, write in the comments. I will be glad 👩‍💻
OANDA:XAUUSDShort
by Lingrid
14
Alikze »» MINA | Pullback to dynamic trigger is brokenIn the daily time, after the failure of the dynamic trigger and the support in the green box range, it has already tried to break the neckline several times, which it has not succeeded in breaking so far. But according to the structure that created higher floors and pits facing up, a triangle corner pattern was also formed. If the fake break occurs from the bottom and is supported in the green box range, it will have the ability to continue to the next supply area. »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Sincerely.❤️ »»»«««»»»«««»»»«««
Long
by alikze
6
Alikze »» SKL | Pullback to broken structureIn the daily time, after the floor in the range of 0.019, it has entered a motivational upward phase, which is facing a correction with the failure of the dynamic trigger and the specified supply area, which is supported in the green box area where a break has occurred. It will grow up to the next supply area. Otherwise, it can continue up to the range of the dynamic correction trigger, which will make it difficult to continue the upward path. »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Sincerely.❤️ »»»«««»»»«««»»»«««
Long
by alikze
SPY S&P 500 ETF Options ahead of the FOMC decision After the 2023 price target was reached: Now Powell's likely to take a hawkish stance tomorrow, given the CPI, PPI, and GDP data. Interest rate cuts probably won't happen before June, in my opinion, potentially causing both indices and the crypto market to decline. I would consider purchasing the 489usd strike price Puts with an expiration date of 2024-5-17, for a premium of approximately $3.13. My end of the year Price Target for SPY, the S&P 500 ETF, is $540.
AMEX:SPYShort
by TopgOptions
EurUsd is testing support. What can be next?In my previous analysis of FX:EURUSD , I mentioned that once the pair breaks and stabilizes above the 1.08 zone, we could expect a rise toward 1.1. Indeed, that scenario played out, and after reaching a high near that zone, EURUSD began to correct. Currently, the pair is trading near an old resistance, which has now turned into support. Typically, we would anticipate a new upward movement from this point. However, in my opinion, this will not be the case due to the structure of the rise from 1.07. It lacks impulse and can be interpreted as an ABCD type of correction for the initial downward leg from the beginning of the year and the strong sell-off from last week. In conclusion, I am looking to sell rallies in the 1.0920 zone, anticipating a break below confluence support and a drop back to the 1.07 zone once again.
Short
by Mihai_Iacob
1
FilUsdt- I'm expecting a new leg upFilecoin is one of the coins that I anticipate will perform very well in the coming months. Like the entire cryptocurrency market, BINANCE:FILUSDT began a bullish trend at the end of October. However, at the start of this year, the coin entered a correction phase, experiencing a drop from above 8 to under 5. In mid-February, a new upward trend began, and the coin surged by more than 100% once again. Following the peak around 12 on March 9th, the coin started to correct once more, with a recent low reaching 8.3. Technically, the 8 zone should offer strong support, while the 10 zone should act as resistance at this time. If this cycle were to continue, we could expect a new upward movement to the 17-18 zone, which is an important resistance area visible on longer timeframes. In conclusion, I maintain a bullish stance on Filecoin as long as the price remains above the $8 USD zone, and I anticipate a new upward movement of around 100%.
Long
by Mihai_Iacob
XauUsd- 3 fails, a charm for bearsIn my Friday post, I mentioned that I'm cautiously bearish on OANDA:XAUUSD , highlighting the possibility of a descending triangle forming. Indeed, the price once again failed to break above the descending trendline and closed the day just above the horizontal support of the triangle. Today, as the market opens and the Asian session begins, we observe a break below the support level, with the price currently trading at 2146 at the time of writing. From a technical standpoint, the short-term chart indicates a bearish trend, with the measured target for the triangle pattern at 2105. However, considering the strongly bullish long-term trend, I anticipate more of a drop towards the 2120 zone. The bearish scenario will be invalidated if the price manages to close back above the 2150 zone today.
OANDA:XAUUSDShort
by Mihai_Iacob
3
XauUsd- I'm cautiously bearish.In my post from yesterday, I mentioned that OANDA:XAUUSD might undergo a new corrective phase, potentially falling towards 2140. Indeed, after briefly testing the waters around 2170, the price dropped back to the 2150 support level and then rebounded. As indicated in the title, my current sentiment is bearish, and I anticipate a break below 2150. However, it's crucial for traders to exercise caution when considering sell trades and maintain tight stop-loss orders, given the overall strongly bullish trend.
OANDA:XAUUSDShort
by Mihai_Iacob
5
AVGO Broadcom Options Ahead of EarningsAfter the Head and Shoulders chart pattern was perfectly completed: and the bullish trend started: Now analyzing the options chain and the chart patterns of AVGO Broadcom prior to the earnings report this week, I would consider purchasing the 1380usd strike price Calls with an expiration date of 2024-6-21, for a premium of approximately $129.85. If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
NASDAQ:AVGOShort
by TopgOptions
1
EURAUD:🔴Sell opportunity🔴 As you can see the price left the clean equal lows that can be defined as a target. Well, the price grabbed the liquidity above the previous day's high and changed the market structure, so in that case we can expect a more bearish move to sell-side liquidity. Please pay attention: We need LTF confirmation to execute the sell position. 💡Wait for the update! 🗓️11/03/2024 🔎 DYOR 💌It is my honor to share your comments with me💌
Short
by VahidTradingCR
4