Gold- Bottom is in (most probably)Yesterday, as I expected, Gold reversed from 1940 support and after passing above median resistance (old support) at 1955 managed to close the trading day near the top of the trading range, negating all the drop from 2 days ago.
At this moment there is a high probability of a bottom being in place and, as explained in yesterday's analysis, buy dips should be the appropriate strategy.
Looking at the posted h4 chart we could see very clearly the 1955 now again support, and this should be the zone where we should look to buy.
Also, on a daily time frame, a double bottom could form, with its neckline clearly drawn in 1980.
In conclusion, buying dips under 1960 with negation under recent low is my strategy.
The first level to watch for the target is the 1980 zone, but, as explained, a break here would put the double bottom in play and the measured target for it is 2020.
Signalprovider
OLLI Ollie's Bargain Outlet Options Ahead of EarningsAnalyzing the options chain of OLLI Ollie's Bargain Outlet prior to the earnings report this week,
I would consider purchasing the 60usd strike price Calls with
an expiration date of 2023-6-16,
for a premium of approximately $1.70.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
RPD Rapid7 Options Ahead of EarningsAnalyzing the options chain of W Wayfair prior to the earnings report this week,
I would consider purchasing the 50usd strike price Calls with
an expiration date of 2023-5-19,
for a premium of approximately $3.65.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
DELL Technologies Options Ahead of EarningsIf you haven`t sold DELL here:
then Analyzing the options chain of DELL Technologies prior to the earnings report this week,
I would consider purchasing the $47.5 strike price Puts with
an expiration date of 2023-7-21,
for a premium of approximately $2.10
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
MDB MongoDB Options Ahead of EarningsLooking at the MDB MongoDB options chain ahead of earnings , I would buy the $250 strike price Calls with
2023-6-16 expiration date for about
$23.60 premium.
If the options turn out to be profitable Before the earnings release, I would sell at least 50%.
Looking forward to read your opinion about it.
XAUUSD Outlook 22/5/23. Huge reaction from feb high!Good evening gold gang .. hope you have all had a nice relaxing weekend and are ready to rumble once again.
Gold reacted beautifully from the feb high level and shot back up. This reaction does not confirm the downtrend just yet as there was no close below the level discussed last week. Interesting!!
Dollar is still moving up but will require a small pullback at some point, so some short term bullish movements should happen on gold in the meantime.
For this reason im placing my buys above the much respected 93 level marked on the chart. Sells just below the recent traffic and should be nice to drop to fill the imbalance to the left hand side. There is a take profit area there on the sells where heavy traffic was in the past.
No news tomorrow so it might be a small volume day .. much like most mondays recently .. so exercise patience guys.
Other than that, have a nice rest of your day or evening and ill see you in the morning for the london open.
Please drop a like on your way out and make sure to follow along for constant XAUUSD updates
tommyXAU
GbpJpy- Sell on confirmationSince the recent low at 158 at the end of March, GbpJpy has risen almost 1500 pips to a high above 172.
However, starting with May, the pair has entered a range trading phase with resistance at 172.50 and support at 168.
At this moment GbpJpy is trading near resistance and is in a consolidation.
Short-term support lies at 171.50 and a break under this support could lead to further losses and towards to lower boundary of the range.
Aggressive traders could use this break as a signal for opening short trades, keeping in mind that they trade against the trend.
TGT Target Corporation Options Ahead Of EarningsIf you haven`t sold TGT here:
or bought it here:
Now Analyzing the options chain of TGT Target Corporation prior to the earnings report this week,
I would consider purchasing the 160usd strike price Calls with
an expiration date of 2023-5-19,
for a premium of approximately $5.75
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
EurJpy found support and could rise againAfter reaching the 151 zone resistance, EurJpy started to correct and dropped to 146.00-146.50 zone support.
The medium-term trend remains up and as long as Friday's low is intact I'm in favour of further gains.
Buy dips could be a good strategy and with a target at the recent 151 high we could also reach a risk: reward ratio of more than 1:2
BE Bloom Energy Options Ahead of Earnings Analyzing the options chain of BE Bloom Energy prior to the earnings report this week,
I would consider purchasing the 16usd strike price Puts with
an expiration date of 2023-5-19,
for a premium of approximately $0.65.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
UsdJpy approaching strong supportAfter reaching my target at 138 zone, UsdJpy dropped hard and at this moment is approaching a strong support zone just under 134.
I believe after the touch of support the pair will resume its up move and a new leg up will follow.
In conclusion, dips in this zone should be bought with negation under 133 and a target of at least 200 pips.
XAUUSD 2/5/23 Outlook .. big Wednesday?Good evening gold gang! .. hope you had a good day on the charts.
The forecasted buys were there around half 1 gmt and ran straight to target .. congrats anyone who jumped in there. Price then proceeded to drop straight back in to the range for the rest of the day doing nothing much .. which is typical of a heavy news week.
Wednesday is the FOMC meeting and this could be a huge catalyst for xauusd to either move up to target the 2000s again or down to the 1970s depending on what impact it has on the dollar. This should rid us of this range.
Buys and sells are on the chart and ill update you as the day progresses tomorrow .. but in all honestly im not expecting much. Ill be here if you have any questions .. please like and follow along for more xauusd updates and trade ideas
An off topic thing while i got you that had me thinking today .. i got a comment earlier saying i won't get anywhere using this breakout strategy and will likely blow my account .. it made me think that why do people think that their strategy is better than mine or vice versa? All strategies work .. they're all individual to the person .. and if you have enough proven data, then what is the problem. Anyways my trade won again today and that guy is looking like a toilet.
The point is, focus on your self and perfect your craft. Don't focus on the next social media lambo driver .. trading is possible for everyone if you are disciplined.
Be excellent to each other - bill and ted
TommyXAU
Gold- Range is tightening, support is rising. Up break next?In my yesterday's comment, I said that is better to wait for clarification in Gold's case and it looks like we are closer and closer to a resolution.
Looking at price action since Monday we observe dips are bought and although we have reversals from above 2k, buyers are entering the market higher and higher thus rising the support level.
This, in my book is pressing up, and there are great chances of breaking resistance.
As explained yesterday, a break above 2010 would expose 2050 recent high but with the price gaining momentum, I wouldn't be surprised to see it making a new ATH.
BITCOIN : Detailed Technical analysis BINANCE:BTCUSDT
Bitcoin breakout from it's major resistance , previous neckline now was acting as resistance at 28700 -29000 area
after more than 10-12 test of breaking of resistance , finally trapping seller's and market shoot up
next resistance at 40k area , this will make range from 30k-40k for next 2 months , as my prediction say market can hit resistance
And possible drop back to retest at 28700 , big gap to fill as well at 28700 area
For now try to buy dip's , market in bullish trend
GOLD : Xauusd Cypher Harmonic Pattern OANDA:XAUUSD
Price is making Harmonic pattern , It's a possible cypher pattern
C leg possible extension is 1.13-1.27 which is 2044-2060 area
D led extension is 0.786 which is 1970 area
After completion of X-A-B-C-D cypher pattern market can give retracement of 38.2-61.8 %
For confirmation , C and D leg should keep in there maximum extension range to make it valid pattern
Gold- To resume its up moveAfter 2030 high from last week, as normal, Gold has started to correct.
Today's drop under 2k, in my opinion, is only a liquidity grab and stops hund, and Gold will resume its up move soon.
Technically 198-1985 zone is support and here we should look for reversal signs.
My target remains the ATH and only a daily close under 1965 would change my bullish outlook.
XAUUSD Perfect analysis & Asia outlook Good evening gold gang! hope you are all well
ok last nights asian session was very low volume before a slight push in london where i took buys as forecast. I jumped out before but the trade did come up to hit the target. BOOP! ... the news sent price insane and we saw a spike down to the 2012 level trapping lots of short sellers before retracing heavily. No trades there as, what do i always say .. no closure, no exposure.
On to tonights asian and london outlook .. price is in a messy range right now most likely consolidating for news this week .. so be aware of that. I have buys above the daily high to move on to the 2041 level and the sells below the big wick of the 2012 to target the 2002 level. As always .. hourly or 30m candle closures are required to determine the direction.
The DXY is at a strong resistance of 101.98 and can reverse .. meaning gold to go up, but im expecting consolidation until the news.
Hope this was helpful and you have some understanding on the way i view the market .. please like and follow along for more xauusd updates
tommyXAU
CAD-CHFThe price of this currency pair has been moving in a downward trend on the D1 chart since June 2022. On the H4 chart, the price has reached a resistance level that previously served as an important support level. In addition, the price is very close to the upper line of the descending trend channel, which is another indication of an opportunity to open a SELL position.
EURJPY Will Fall! Short!
Please, check our technical outlook for EURJPY.
Time Frame: 12H
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 143.6
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 142.0 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
The term Oversold describes a period of time where there has been a significant and consistent downward move in price over a period of time without much pullback.
Like and subscribe and comment my ideas if you enjoy them!
EurJpy- Buy dips for 1k pips profit (swing trade)Earlier this morning I've written 2 analyses, one on EurUsd and one on UsdJpy, both bullish and from those, you can conclude that although I expect a rise for EurUsd, a strong Eur and weaker Usd, I also expect a stronger Usd versus Jpy.
If I'm correct, this outcome will give us a double effect on EurJpy, meaning a strong up move.
Stricly technical, EurJpy is ranging since the start of 2023 with a very clear buy zone under 140, market by multiple reversals and long-tailed candles more recently.
At the time of writing the pair is trading exactly at a horizontal resistance level and a drop from here could represent a good buying opportunity with a great R: R if we target the 150 zone. Negation comes with a clear break under 140.
LULU Lululemon Athletica Options Ahead Of EarningsLooking at the LULU Lululemon Athletica options chain ahead of earnings , I would buy the $310 strike price Puts with
2023-4-21 expiration date for about
$14.65 premium.
If the options turn out to be profitable Before the earnings release, I would sell at least 50%.
Looking forward to read your opinion about it.
XAUUSD Asian outlook / i missed the buysGood evening gold gang!! hope you are well
Another winning analysis day today on my beloved gold! Waiting for the strong close above the zone was on the menu today and we finally got it in NY. Price came up, closed, retraced and i got my entry. Price moved up to near 20 pips and i moved to BE .. then price reversed partially and took me out. Price then corrected and rocketed up to the 2000s level with some strong volume! amazing.
Oh i almost forgot the sells we there at the news but did not provide me with an entry. 2 winning analysis.
Ok for asian! ... Price is super bullish again now we are at the 2000s. I would expect in asia to provide a small pull back of a hundred pips or so before moving up towards the monthly candle wick fills and possibly hit all time high!!
I have a sells position on the chart too but keep the risk management tight as we are still bullish after all.
Thanks for reading guys .. please like and follow along for more XAU goodness
tommyXAU