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WTI recovered slightly, the outlook tilted to the downsideWTI TVC:USOIL increased slightly in the Asian trading session on Monday (December 9), trading around 67.50 USD/barrel. Oil prices fell sharply last Friday, closing near their lowest level, mainly due to expected declines in global demand. However, expectations that the Federal Reserve will cut interest rates in December increased following the release of US nonfarm data. According to CME Group's FedWatch, federal funds rate futures trading points to the possibility of a 25 basis point rate cut by the Federal Reserve. point in December was nearly 90%, which will provide some support for oil prices. Currently, uncertainty about the geopolitical situation increased again at the weekend, making the medium-term recovery of oil prices still not optimistic. In the short term, crude oil traders need to continue to observe whether the pressure brought about by the geopolitical situation on the supply side will support oil prices to continue to recover. Essentially, this week will continue to focus on changes in inventory data and whether demand-side pressures ease. This week, the financial market in general and the crude oil and WTI crude oil trading market in particular will focus on US CPI data. On the daily chart, WTI TVC:USOIL although it recovered slightly in the opening Asian trading session today (December 9), it still has all the technical factors supporting bearish expectations. With the long-term trend being noticed by the price channel followed by the short-term price channel, it has both a long-term and short-term trend of decreasing prices. On the other hand, WTI crude oil is also under main pressure from EMA21 along with the 0.236% Fibonacci retracement level. In the short term, if WTI crude oil is sold below 65.28USD, there will be a prospect for a new downtrend to open, and the technical point of 68.34USD is the closest resistance currently. The relative strength index also maintained price activity below the 50 level, which should be considered a negative signal for WTI crude oil technically. During the day, the technical outlook for WTI crude oil on the daily chart leans bearish with notable points listed below. Support: 66.44 – 65.28USD Resistance: 68.34 – 69.51USD
TVC:USOILShort
by Xayah_trading
Ending a sideway week, pay attention to CPI dataDuring the Asian trading session on Monday (December 9), OANDA:XAUUSD Spot delivery rose significantly then fell back, with gold prices hitting an intraday high of $2,650.62/ounce on the Asian market. Gold prices have now dropped and are trading at 2,636 USD/ounce. Bloomberg reported that China's central bank increased its gold reserves for the first time in seven months and that the rapid collapse of the Syrian government further undermined stability in the Middle East. These two factors boosted gold prices on Monday but of course it only had a very short-term impact. The People's Bank of China released data on December 7 showing that China's gold reserves at the end of November 2024 were 72.96 million ounces and at the end of October were 72.8 million ounces. As of April this year, China's central bank had increased its gold reserves for 18 consecutive months, helping support rising gold prices. However, the Chinese central bank's purchases (about 5 tons) are relatively small compared to monthly purchases since the beginning of this year. Traders watched developments in Syria over the weekend after President Bashar al-Assad fled as rebels took control of the capital Damascus. The United States struck dozens of Islamic State targets in central Syria on Sunday, as President Joe Biden warned that Assad's fall could lead to a resurgence of Islamic extremism. Analysis of technical prospects for OANDA:XAUUSD Although gold has had a week of stable price fluctuations with mostly sideways accumulation, in general on the daily chart it still moves with the main trend leaning towards the possibility of price decline. With the main trend being noticed by price channel and pressure from EMA21 along with the 0.50% Fibonacci retracement level and horizontal resistance of 2,644USD in the short term. On the other hand, the relative strength index (RSI) is moving sideways below the 50 level, which can be considered a negative signal for gold technically. In the near term, if gold takes its price action below the 0.618% Fibonacci retracement level, it could fall a bit further to $2,606 – $2,600 in the short term. Additionally, a new bearish cycle is likely to be opened once the $2,600 raw price level is broken below, confirmed by price activity below the 0.786% Fibonacci level followed by a target of around $2,538. As long as gold remains within the price channel, below the EMA21 and below the 0.50% Fibonacci retracement, it remains bearish on the daily chart, and the highlights are listed below. Support: 2,606 – 2,600USD Resistance: 2,644 – 2,663USD SELL XAUUSD PRICE 2686 - 2684⚡️ ↠↠ Stoploss 2690 →Take Profit 1 2679 ↨ →Take Profit 2 2674 BUY XAUUSD PRICE 2589 - 2591⚡️ ↠↠ Stoploss 2585 →Take Profit 1 2596 ↨ →Take Profit 2 2601
OANDA:XAUUSDShort
by Xayah_trading
Mastering The Timing Of Trade Exits In Trading Most newbie traders tend to focus on the entry point of a trade, believing that as long as they initiate a position correctly, they can manage their way to a profit later. They often think, “It’s okay if I earn a little; I can always close the trade once the price moves in my favor.” Unfortunately, this mindset often leads to disappointing outcomes. Traders may find themselves either underwhelmed by their gains due to greed—thinking, “Just a little longer, and I’ll secure my profits”—or missing the exit altogether, resulting in a break-even scenario. The situation becomes even trickier when prices move against the trader. Many cling to the hope of a miraculous turnaround, refusing to acknowledge their losses, and instead, they adjust their stop-loss orders, convinced that the market must eventually rebound. This often leads to further losses as they watch their deposits dwindle. To avoid these pitfalls, it's crucial to understand when to close a trade for maximum benefit, as explored in this post. 📍 Strategic Approaches to Closing Trades Closing a trade effectively requires timing it neither too early nor too late. Premature exits can lead to missed opportunities for profit, while waiting too long can result in significant losses. 📍 When to Close Trades? • Identifying Reversal Patterns: Recognizing patterns that indicate a reversal is essential. For instance, during an uptrend, buyers eventually taper off because prices become too high. Those who bought at the onset may begin selling, and if a pinbar forms followed by a bearish engulfing model, this is a clear signal to close before a downturn. • Combining Signals from Indicators: Utilize multiple indicators to gauge the market trend. If trend indicators show a downturn and oscillators indicate overbought conditions, it may be time to close a long position. Patterns and signals should work in concert for the best results. • Following Risk Management Strategies: Tailor your exit strategy to your risk management plan. Strategies could include setting a take-profit level at 50-60% of daily volatility or maintaining a risk-to-reward ratio of 1:3. • Using Risk Management Calculations: This involves observing the pip value and the 1.0-2.0% rule. For example, if your account has a balance of $1,000, limit your loss on any trade to $100 based on the volume of the trade. Accordingly, your take profit should be 2%-3% or more. • Monitoring Candlestick Patterns: A shift in the strength of candlestick bodies can indicate a forthcoming reversal. If you see a consistent decline in candlestick sizes during a price breakout, this can be a cue for an imminent trend shift. • Paying Attention to Key Levels: Many traders place pending orders around key support and resistance levels. Understanding that price may not reach these levels can inform your take-profit and stop-loss placement. • Before Major News Releases: Anticipate how significant news might impact the market. Though there may be statistical predictions, volatility can be unpredictable. Closing trades in advance can help manage unexpected market movements. • At the End of Trading Cycles: Prior to weekends or before the day ends, consider closing positions. This is crucial as weekend events can dramatically shift prices, and exposure over multiple days can incur costs, akin to interest on leverage. • Rebalancing Investments: In the stock market, periodically analyze portfolio performance, selling off underperforming assets to maintain profitability. This concept can also apply to trading, helping to recalibrate your positions for better outcomes. 📍 Conclusion Understanding the timing of closing trades is critical for any trader. By applying these strategies and learning from past experience, you can better navigate the complexities of trading and improve your overall profitability. Traders, If you liked this educational post🎓, give it a boost 🚀 and drop a comment 📣
Education
by Lingrid
8
GBP/USD → Breaks Out, Eyes New Trend Target Around 1.300Hello everyone, Ben here! The GBP/USD pair has found an opportunity to recover as a breakout from the previous parallel channel around the 1.271 region takes shape amid the dollar's ongoing correction. Key levels of interest are now set around the 1.300 area, with market sentiment cautiously optimistic. A notable test of the intermediate low near the 1.248 mark was followed by an impressive reversal pattern, suggesting a bullish shift in momentum. Theoretically, the outlook leans toward further upside. However, the bigger question remains: How sustainable is this rally? The answer primarily lies in the trajectory of the U.S. dollar. According to the CME FedWatch tool, the market is currently pricing in a 71.8% probability that the Federal Reserve will cut interest rates by 25 basis points in December. This scenario implies increased downside pressure on the USD, potentially opening the door for a moderate recovery in other currencies, including the pound. From a technical perspective, the channel breakout provides a promising bullish signal, potentially setting the stage for a stronger upward move. However, traders appear cautious, waiting for further confirmation. If a false breakout above resistance occurs and the price falls below 1.271, a move back toward 1.240 could be on the horizon. For now, though, the mid-term outlook hints at a gradual climb from 1.275 to the psychological level of 1.300, supported by positive technical signals. What are your thoughts on the current dynamics of GBP/USD? Share your insights, questions, or observations—let’s analyze this fascinating setup together!
Long
by Bentradegold
11
GOLD MARKET ANALYSIS AND COMMENTARY - [Dec 09 - Dec 13]Last week, international OANDA:XAUUSD almost went sideways in a range from 2,613 - 2,657 USD/oz. The US economy created 227,000 jobs in November, slightly surpassing economists' forecasts. At the same time, wages increased faster than expected. However, the unemployment rate increased again to 4.2%. However, these data show that the US labor market has been tending to recover, creating momentum for the FED to consider delaying interest rate cuts in the context of higher inflation, especially is when Mr. Trump is about to take office as President of the United States. Thus, there may not be much room for gold prices to increase because the FED cuts interest rates. Therefore, gold prices will need additional catalysts from geopolitical factors, central banks increasing gold purchases, etc. Short-term gold prices in general and next week's gold prices in particular will still be in a state of tension between concerns about escalating geopolitical tensions and Mr. Trump's strong tariff measures, causing US Treasury bond yields to increase. , creating strength for the USD and limiting the rise in gold prices. 📌Technically, on the H4 chart, we can see that the moving average ema89 is moving sideways, the gold price continues to accumulate sideways in a narrow range. Accordingly, the resistance level to pay attention to is around the 2720 mark, the support level to pay attention to is around the 2535 mark. Gold prices will create a clear trend when breaking through these two resistance levels. Notable technical levels are listed below. Support: 2,600 – 2,606USD Resistance: 2,663 – 2,644USD SELL XAUUSD PRICE 2721 - 2719⚡️ ↠↠ Stoploss 2725 BUY XAUUSD PRICE 2534 - 2536⚡️ ↠↠ Stoploss 2530
OANDA:XAUUSD
by Xayah_trading
PONKE the Next Big Meme Coin? Potential Gains Await! 12/08/24At certain market phases, smaller coins can yield higher returns than larger ones, as they are capable of significant growth over a short period. One such asset is #PONKE. I always look for meme coins like #PONKE with low market caps and modest prices. For instance, #PONKE has a market cap of approximately $300 million, with its current price sitting at $0.56. This indicates that the coin is still in its growth phase and holds potential for further price increases. Targets: 1 - $1.02648 2 - $1.24404 3 - $1.48259 4 - $2.07540 DYOR.
Long
by trendbooster
EUR/USD moving towards 1.02!As of December 8, 2024, the EUR/USD exchange rate has shown significant volatility, influenced by mixed economic data and central bank monetary policies. Recently, the exchange rate hit multi-year lows, bottoming out at 1.0332 on November 22, followed by a rebound that brought the pair to fluctuate around 1.0570. The Dollar Index (DXY) declined after initial jobless claims rose to 224,000 in the week ending November 30, compared to 215,000 in the previous week. However, the Michigan Consumer Sentiment Index for December showed an improvement, indicating increased consumer confidence in the U.S. economy. The Eurozone economy has shown signs of slowing, with Germany’s manufacturing PMI declining and a contraction in France's services sector activity. This data highlights economic weakness that could influence future decisions by the European Central Bank (ECB). The market currently sees a 70% probability of a 25 basis-point rate cut by the Fed in its December meeting. Historically, December has been a positive month for EUR/USD, with an average return of 1.23% over the past 50 years. However, current economic conditions and geopolitical uncertainties could limit this seasonal trend.
Short
by Forex48_TradingAcademy
1
XRP 4H. Preparing for a Breakout. 12/08/24Ripple is currently trading sideways, and this consolidation phase is likely to continue for some time. Let me share some insights with you: indicators in technical analysis provide various insights into the market's condition, such as whether it is overheated or oversold. When these indicators deviate significantly from their normal levels (e.g., overbought or oversold conditions), they may generate false signals. Sideways movement helps "reset" these indicators to more normal levels, which is exactly what’s happening now. During a sideways phase, traders buying and selling the asset frequently rotate, preventing significant price movements. This is crucial for analysis, as it may indicate the market is preparing for the next significant move, such as a trend. In summary, periods of no clear trend are essential for the market to allow indicators to normalize and trader rotations to occur, creating the conditions for the next price movements. So, hold and wait. Forecasted movement is shown on the chart. DYOR.
Long
by trendbooster
PEPE. NEW GROWTH OPPORTUNITIES. 12/04/24PEPE is now available for trading on major cryptocurrency exchanges such as Robinhood, Coinbase, and Upbit, with a pair to the Korean Won (KRW). This is a significant milestone as these large platforms provide PEPE with broader audience access and increased capital flow. Given that PEPE has achieved notable positioning on centralized exchanges (CEX), it is reasonable to anticipate further growth in both value and popularity, especially if Bitcoin continues its upward trajectory, surpassing $100,000, and the cryptocurrency market experiences a bullish cycle. In my opinion, PEPE has the potential to become as prominent and investable as other meme-based cryptocurrencies like DOGE and SHIB. Its viral appeal and meme-driven nature could act as catalysts for accelerated growth. I expect PEPE to surpass SHIB in market capitalization during this cycle, marking a pivotal moment in its development. Furthermore, PEPE could emerge as a competitor to DOGE, intensifying the rivalry among meme cryptocurrencies. Entry range is highlighted on the chart. DYOR.
Long
by trendbooster
DXY Will Go Lower From Resistance! Sell! Here is our detailed technical review for DXY. Time Frame: 1D Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a key horizontal level 105.962. Considering the today's price action, probabilities will be high to see a movement to 103.661. 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. Like and subscribe and comment my ideas if you enjoy them!
TVC:DXYShort
by SignalProvider
2
EURCHF Will Grow! Long! Take a look at our analysis for EURCHF. Time Frame: 3h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a significant support area 0.928. The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 0.930 level. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
2
Lingrid | ETHUSDT anticipating a MAJOR Surge. Long The price perfectly fulfilled my previous idea. It hit the target level. BINANCE:ETHUSDT is currently consolidating above the psychological level at 3500, having bounced off that level after taking liquidity below it. The price is also trading above a trendline that has been respected multiple times, indicating ongoing bullish sentiment. On the weekly timeframe, the price is approaching a global trendline, and there is potential for the market to break above this trendline, which could trigger a significant surge toward the 4000 resistance zone. It’s likely that the market may consolidate below the 3900 level before eventually breaking through, allowing for a continuation of the upward momentum. My goal is resistance zone around 3880. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Long
by Lingrid
7
Alikze »» BITCOIN | Wave 3 of 3 bullish super cycle scenarioAccording to the previous analysis regarding Bitcoin, it is moving in a long-term ascending channel in the monthly time frame. 💎 Currently, according to the type of behavior and movement structure, it is in wave 3 of 3 super cycles. 💎 But since 2018, after a movement cycle and a correction in the form of a three-wave to the bottom of the channel in the range of $16,000, this correction ended. 💎 After that, it started another kinetic wave, which ended in the support range of the green box of its corrective wave 2, and is currently in wave 3, which overlaps with 100% Fibo of the previous wave, which is the range of $78,000. 💎 If this current wave 4 correction wave has started, it can be reviewed according to the analysis of the previous post ( here ), which you can follow its updates by referring to that post, at the same time, this wave should not enter the territory of wave 1. The chart is specified. In that case, the post should be updated and the scenario should be checked instead. 💎 But in its super cycle, as mentioned, this wave is in wave 3 of 3, which will have the ability to reach the red box numbers of the specified supply limit and up to 1.618 fibo to the range of $369,000. 💎 Going through a full cycle of 5 waves will have the ability to reach the range of $2,700,000. Please note that these numbers are in the monthly time frame and it is natural that the time to reach these goals will certainly require more time, which should be reviewed and updated step by step. »»»«««»»»«««»»»««« 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.❤️ »»»«««»»»«««»»»«««
BITSTAMP:BTCUSDLong
by alikze
4
Lingrid | NOTUSDT Breakout Trade. Long from SUPPORT levelBINANCE:NOTUSDT successfully broke through the resistance level at 0.0100 after spending several weeks in a consolidation phase. This breakout, combined with a move above a trendline, is a bullish signal that could lead to further upward extension. If the market continues to gain momentum, an additional breakout above the previous month's high could indicate strong buying interest, potentially leading to a surge in price. If the price hold above 0.0100 and decisively clear the previous month's high, it might attract more buyers and push the price to higher levels. My goal is resistance zone around 0.01200 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Long
by Lingrid
12