Conquered 250 Pips, What's Next in the Wave? Swingers!Let's keep it simple, As Always!
As of today, GBP/USD has delivered a solid 250-pip move following our analysis shared on October 9th, 2024. Our forecasted move materialized as expected, with the pair continuing its upward momentum after a brief consolidation phase. For those who took the trade, congratulations on securing some solid profits!
Now, the question on everyone's mind is, what's next for GBP/USD? Let’s break down the structure and identify the potential move within the wave.
Keep an eye on price action around these levels for the next wave. A pullback to 1.2300 could offer an entry for the next rally. Stay cautious and wait for confirmation before jumping in.
Let's see how the market unfolds over the coming sessions.
-Zak
Happy Trading! 🔥
Signals
KBH KB Home Options Ahead of EarningsAnalyzing the options chain and the chart patterns of KBH KB Home prior to the earnings report this week,
I would consider purchasing the 60usd strike price Puts with
an expiration date of 2025-4-17,
for a premium of approximately $2.82.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
TTAN ServiceTitan Options Ahead of EarningsAnalyzing the options chain and the chart patterns of TTAN ServiceTitan prior to the earnings report this week,
I would consider purchasing the 130usd strike price Calls with
an expiration date of 2025-1-17,
for a premium of approximately $0.95.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
EURAUD - Potential Rejection at ResistanceThe EURAUD pair is approaching a significant resistance zone near the 1.67000–1.68000 range, which aligns with a prior resistance zone where the price has historically struggled to break higher. This area marks a potential point of trend exhaustion, as the market structure suggests that sellers could regain control.
If the price shows a clear rejection from this resistance zone, I anticipate a potential downward move toward the 1.65400 support level. This setup aligns with the notion of a bearish reaction after a rally into resistance.
If you agree with this analysis or have additional insights, feel free to share your thoughts in the comments!
Brent Oil Poised for a Rally!Brent crude prices are currently influenced by a combination of strong geopolitical and climatic factors. At present, WTI is trading around $73.30 per barrel, nearing its highest levels since October 2024, as investors closely monitor the potential impact of colder weather in the United States and Europe. Seasonal demand for heating oil is expected to rise, providing additional support to crude prices. Simultaneously, China’s economic policy plays a crucial role in shaping the global energy market, given its status as the world’s largest crude importer. Recent stimulus measures announced by Beijing, including ultra-long-dated treasury bonds and initiatives to boost investment and consumption, have heightened expectations for increased fuel demand. Support from the People’s Bank of China, which anticipates a potential interest rate cut in 2025, along with the Shanghai Stock Exchange’s commitment to further open capital markets to foreign investors, strengthens the country’s economic recovery outlook.
In addition to these dynamics, the outlook for Iranian exports remains a critical factor for the Brent market. Goldman Sachs forecasts a decline in Iranian production by approximately 300,000 barrels per day by the second quarter of 2025, lowering the country’s total output to 3.25 million barrels per day. This drop is attributed to the anticipated tightening of sanctions under the new Trump administration, which could curtail global supply and support higher prices. The combination of rising seasonal demand for heating oil, growing demand from China, and reduced Iranian supply could sustain an upward trend in Brent prices in the short to medium term. However, it remains essential to closely monitor geopolitical developments and major central bank policies, as any significant changes could alter the current outlook.
GER40 - Short Setup My main trading principle is that the price always moves from swept liquidity levels to untouched liquidity levels.
In particular case we clearly can see the following context: price swept 1D key liquidity level and left untouched level lower, this indicates on probable distribution Wyckoff range.
But to take more statistically probable trades we should wait for some type of lower timeframe confirmation, and in this case we can notice sign of weakness (reaching the middle of the range), so potentially there is a higher probability to see price lower.
Your success is determined solely by your ability to consistently follow the same principles.
GBPAUD: Potential Rejection at ResistanceThe GBPAUD pair is currently trading near a key resistance zone, where sellers may regain control. This level has been a significant area of interest in the past, leading to reversals. The recent pullback into this zone suggests a potential for bearish continuation if price action confirms a rejection.
If the market provides a clear rejection pattern, such as bearish engulfing candles or wicks signaling rejection, I anticipate a move downward toward the 1.99911 target level. This setup aligns with the expectation of a short-term correction within the broader market context.
Let me know your thoughts or if you have a different perspective! Feel free to share in the comments.
EURNZD - Potential Rejection at ResistanceThe EURNZD pair is approaching a significant resistance zone marked by prior price rejections. This area aligns with a key supply zone, and the market structure hints at a potential reversal. The overall context suggests that sellers may take control at this level, leading to a downward move.
I anticipate that if the price shows a clear rejection from the resistance zone, the market may head lower toward the 1.83200 support level. This setup aligns with the idea of trend exhaustion near resistance.
if you agree with this analysis or have any additional insights, feel free to share your thoughts in the comments!
Analyzing XAUUSD: Support and Resistance Dynamics Driving a BullXAUUSD, representing the price of gold against the US dollar, is currently trading at 2635 with an anticipated target price of 2800. The price movement is based on the support and resistance pattern, where the current price is bouncing off a strong support level. This suggests that buyers are stepping in at this level, preventing further declines and creating upward momentum. The support level at 2635 is critical, indicating strong buying interest, while the target price of 2800 reflects bullish sentiment. This pattern demonstrates the interplay of technical levels, with the price expected to rise as it moves toward resistance zones. Traders anticipate a potential breakout above intermediate resistance levels as the price progresses toward the target. The market sentiment is supported by gold's status as a safe-haven asset, attracting investors during uncertain economic conditions. To confirm the upward move, traders may use additional technical indicators like RSI or MACD. However, risk management strategies, such as stop-loss orders below the support level, are essential to mitigate potential losses. Overall, XAUUSD is poised for an upward trajectory, highlighting the importance of support and resistance dynamics in forex trading.
US100 Will Go Up! Long!
Please, check our technical outlook for US100.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is on a crucial zone of demand 21,549.6.
The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 22,260.2 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.
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USDCHF Is Bearish! Short!
Take a look at our analysis for USDCHF.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 0.902.
The above observations make me that the market will inevitably achieve 0.876 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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GBPAUD Is Very Bullish! Buy!
Please, check our technical outlook for GBPAUD.
Time Frame: 8h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 1.995.
Taking into consideration the structure & trend analysis, I believe that the market will reach 2.010 level soon.
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.
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EURUSD Will Grow! Buy!
Take a look at our analysis for EURUSD.
Time Frame: 3h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 1.030.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 1.038 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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Trading minute impulseOn the minute timeframe of XAUUSD at the moment we have the completion of the impulse formation. If the price continues to move in the direction of the impulse and the support zones do not allow it to overcome the base of the impulse, it may reach the targets 1 and 2. If the price fails to advance in the direction of the momentum and overcomes the support zone at the base of the momentum, it is very likely that the price will move sideways or against the direction of the momentum.
NASDAQ rebounding strongly on its 1D MA50. 1 month rally ahead.Nasdaq (NDX) has been trading within a 4-month Channel Up and hit last Tuesday its 1D MA50 (blue trend-line) exactly on the Channel's bottom. Even though it marginally broke it, the 1D candle closed exactly on the 1D MA50, causing a strong bullish Friday reaction.
As today opened equally green, we technically view this sequence as the start of the new Bullish Leg of the pattern, which may be confirmed today if the 1D RSI breaks above its MA (yellow trend-line), as both previous Bullish Legs did.
Our Target is 22600, which represents a +9.00% rise, the minimum a Bullish Leg had within this Channel Up.
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