Lingrid | EURUSD bearish DOMINANCE presents in the MARKETThe price perfectly fulfilled my previous idea. The market literally went down and hit the target level. FX:EURUSD is heading toward the strong resistance zone between 1.07300 and 1.07600. If the price rejects the resistance, then we can expect the price to move to a to a lower level. However, if the market breaks through the resistance zone, we expect the price to retest the next key level at 1.08000. I expect the price to move toward the equal highs, then a fake breakout followed trend continuation. My goal is the support level at 1.06600.
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Gold could rebound, but trend is bearish on medium termFollowing a very choppy price action that finalized a flag pattern, OANDA:XAUUSD experienced a significant decline yesterday, amounting to a drop of 500 pips, breaching crucial horizontal support levels at 2315 and the 2300 mark, nearly reaching the support zone at 2270.
After such a substantial decline, a rebound is possible, though the medium-term trend currently favors a bearish outlook.
Resistance is now anticipated at 2315, presenting potential selling opportunities within that zone.
Conversely, a test of the 2270 support level could provide short-term traders with a favorable buying opportunity for a correction above 2300.
Alikze »» XAUUSD | Pullback of the ascending channel is brokenIn the monthly time, as mentioned in the previous post, after the correction in the form of a smaller valley that formed the cup pattern, it completed the correction wave 4 and is currently in the ascending microwaves of wave 3 of 5, which as In the daily time frame chart, it can be seen that it is moving in an ascending channel, which is currently broken from the channel that seems to be pulling back into an ascending channel after its completion, which can continue the upward trend as the previous channel after its completion. Follow the general process mentioned in the previous post.
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Lingrid | MATICUSDT potential BREAKOUT of the DOWNWARD channelOn the 1H tiemframe, BINANCE:MATICUSDT broke and closed below the support level that became the resistance zone. The price is rolling back from the border of the channel. On a broader view, the market is a consolidation zone, and the market did not test the bottom of it. I think the market might continue moving downward since the overall trend is bearish on the 4H timeframe. I expect the market to retest the upward trendline and resistance around 0.68500, then move down to retest the support levels. My goal is a support level at 0.6380
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Lingrid | GOLD Weekly OUTLOOK: MARKET Continues CONSOLIDATINGOANDA:XAUUSD market made a notable decline over the week, but it has now rebounded from the key support level at 2300. It's probable that we might see further consolidation because any market cannot move straight up for a long time; it moves in ebbs and flows. This consolidation will likely involve the typical sideways movement and market noise of the gold market. Following a rapid price surge, establishing support and resistance levels prior to attracting new bulls becomes essential. I think while geopolitical factors could impact the market, the massive downside risk might be expected to be minimal, even though we can expect some volatility in the market.
Looking at the weekly timeframe, we can see that a fakey pattern has formed, with a false breakout of the previous two weeks' lows. Despite this, last week saw some strong bearish movements. When we examine the daily timeframe, the candle from last Monday indicates bearish pressure. My prediction is that the market may experience a two-legged pullback to retest the April open prices. A look at the 4H timeframe shows a potential bearish flag pattern, suggesting that the market could move lower due to its failure to close above the key level at 2350. It is important to observe the monthly candle, as a long-tailed close could signify a deeper pullback ahead. In general, I anticipate a sideways movement in the market, and if it retests the next key resistance zone around 2360-2370, we may consider shorting the market.
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Lingrid | ETHUSDT bounced off the Strong RESISTANCE zoneBINANCE:ETHUSDT made a false breakout of the resistance at 3300. It failed to set new higher highs. Overall, the market is bearish on the 4H timeframe. I think the market will break through the upward channel, then move downward to the key level at 3000. The price action created an equal low, and it potentially might retest the lows or even go lower. I expect the price to break through the channel because the market bounced off the strong resistance level. My goal is the support level at 3050.00
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Lingrid | GOLD Resistance REJECTION. Potential ShortThe price perfectly fulfilled my last idea. It hit the target. The market made a pullback into the range zone after resistance level rejection. OANDA:XAUUSD failed to move higher and pushed back. I think the market may retest the resistance and channel border, then go down to recent support levels, breaking through the key level at 2300. The market formed two consecutive doji bars on the daily timeframe, which suggests the bulls don't have the strength to make a new high. I expect the price to move lower, potentially testing the previous week's low. My goal is the support level at around 2290.
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Lingrid | GBPAUD short from the strong RESISTANCE zoneThe market is pulling back to the resistance zone. FX:GBPAUD bounced off the resistance by forming impulse movement before. The market overall is in the range zone. Even though it broke and closed above the downward channel. I think it might go down to test support if the resistance rejects the price again. It might create a long-tailed bar at the resistance and upward trendline. I expect the market to pullback toward a strong resistance zone and then fall from it. My goal is to support 1.91690
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GOLD 4H CHART ROUTE MAP UPDATEHey Everyone,
Great start to the week with our chart idea playing once again in true level to level fashion!!
Price was sitting between two weighted levels, 2354 resistance and 2327 support and we were looking for either weighted level to break and lock to confirm the next range.
We got our bearish target hit first at 2327. No lock below confirmed the rejection and gave the perfect bounce inline with our plans to buy dips for a nice clean catch.
Our Bullish target at 2354 remains open and, as stated yesterday; we are looking for either the 2354 Goldturn resistance or 2327 Goldturn support to cross and lock to open the next range.
We also need to keep in mind our 1H chart idea has broken support and left the range below open, which we need to keep in mind during the week when planning our buys from dips.
We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up.
We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGETS
2354
EMA5 CROSS AND LOCK ABOVE 2354 WILL OPEN THE FOLLOWING BULLISH TARGETS
2386
EMA5 CROSS AND LOCK ABOVE 2386 WILL OPEN THE FOLLOWING BULLISH TARGET
2410
2429
BEARISH TARGETS
2327 - DONE
EMA5 CROSS AND LOCK BELOW 2327 WILL OPEN THE RETRACEMENT RANGE
2313
2294
EMA5 CROSS AND LOCK BELOW 2294 WILL OPEN THE SWING RANGE
SWING RANGE
2274 - 2245
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it!
Mr Gold
GoldViewFX
Lingrid | BITCOIN forms Lower LOWS. SHORTThe price perfectly fulfilled my last idea. It hit the target level. BINANCE:BTCUSDT market has been making lower lows and lower closes. Recently, it broke through the support level at 63000. I think the market might push down the support level at 61000 because, on the daily timeframe, we have a long-tailed bar indicating a liquidity grab. I think the market may move lower because, if you look at the price action, you can see that the market is pulling back, then breaking through it, forming an impulse move. I expect the price to retest the downward channel. My goal is a support level at 61200.
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Lingrid | EURCAD testing SWAP ZONEThe price perfectly fulfills my last idea. It hit the target. FX:EURCAD broke through the range zone, and it pulled back to it after testing the support. Price action made impulse moves down from resistance, where a swap zone was formed. The market trend is bearish; therefore, I expect the price to continue to move lower toward support from resistance, which is the previous day high. I think the market might test the equal lows below. On the daily timeframe, the market formed long-tailed bars, indicating bearish pressure. My goal is to support at 1.46010
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Hellena | Oil (4H): Long to resistance area of 87.47.Dear Colleagues, at the moment the price has made a strong downward movement. I suppose that the price is in wave "4" and can continue its movement to the support area of 80.22, but I consider only long positions, because the price can make a reversal at once. I recommend to work with pending orders.
The nearest target is the resistance area at 87.47.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
GOLD 1H CHART ROUTE MAP FOR THE WEEKHey Everyone,
Please see our updated 1h chart levels and targets for the coming week.
We are seeing price play between two weighted levels 2351 resistance and 2333 support. We will need to see either weighted level break and lock to confirm the next range.
We will need to see ema5 lock above 2351 to further open the range above or a rejection will follow to find support at 2333. A cross and lock below 2333 will open the retracement range and a further cross and lock below 2316 will open the swing range.
We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up.
We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGETS
2351
EMA5 CROSS AND LOCK ABOVE 2351 WILL OPEN THE FOLLOWING BULLISH TARGETS
2368
EMA5 CROSS AND LOCK ABOVE 2368 WILL OPEN THE FOLLOWING BULLISH TARGET
2388
POTENTIALLY 2408
BEARISH TARGETS
2333
EMA5 CROSS AND LOCK BELOW 2333 WILL OPEN THE RETRACEMENT RANGE
2316
EMA5 CROSS AND LOCK BELOW 2316 WILL OPEN THE SWING RANGE
SWING RANGE
2302 - 2278
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it!
Mr Gold
GoldViewFX
GOLD DAILY CHART MID/LONG TERM PROJECTIONHey Everyone,
Please see our daily chart idea that we have been tracking and trading successfully since completing our last daily chart idea.
Last week we were seeing price test the updated Goldturn ascending channel top and stated that we were likely to witness either a break above the channel or some resistance and some correctional retracement for a level to level bounce back up to continue to extend the channel range to retest 2418 and 2504 long term.
As stated we saw the retracement take place and the price test support at at 2325 Goldturn inline with the channel half line. Ema5 5 remained above 2325 confirming the bounce, which we were able to track and trade using our smaller timeframe. A break below the 2325 Goldturn support level will complete the full channel half line test and the potential for a break and lock below the half line to open the levels below until we track to the bottom of the channel or rejection back to re-test the top.
We will use our smaller timeframe analysis and trading plans to navigate the range in true level to level fashion.
Our long term bias is Bullish and therefore we will continue to use our smaller timeframes to buy dips using our algo generated levels and setups.
Buying dips allows us to safely manage any swings rather then chasing the bull from the top
Please don't forget to like, comment and follow to support us, we really appreciate it!
MR GOLD
XAUUSD TOP AUTHOR
GOLD WEEKLY CHART MID/LONG TERM PROJECTIONHey Everyone,
This is an update on our weekly chart idea that we have been tracking and trading successfully over the last few months and currently still being respected.
So far we were able to track the entre move up and down twice with level to level tracking and our long term swing range zones have also provided the bounces each time.
LAST UPDATE
Price has maintained above the channel with our final long range target at 2438 still remaining. The extended levels 2475 and 2511 will only activated once we see a close above 2438 .
We would also like to see the price retest support above the channel top also inline with the ema5 detachment highlighted with the circle for a correction. Should price break back into the channel while correction then we will look for price to respect the levels int he channel once again for the bounces inline with our plans to buy dip level to level using our small time frames.
CURRENT UPDATE
This played out perfectly with the test at support above the channel top and detachment to ema5 that we highlighted followed with the perfect bounce allowing us to buy multiple dis using our smaller timeframes throughout the week.
We will continue with this plan until we see a further push up into the levels above or we see price break back into the channel for a further correction for price to respect the levels in the channel once again for the bounces inline with our plans to buy dip level to level using our smaller times.
Buying dips allows us to safely manage any swings rather then chasing the bull from the top
Please don't forget to like, comment and follow to support us, we really appreciate it!
MR GOLD
XAUUSD TOP AUTHO
Lingrid | AVAXUSDT potential CHANNEL breakoutBINANCE:AVAXUSDT made a rejection at the resistance zone and bounced off. The bulls did not have enough strength to form a new, strong bullish move. Price action broke through the key level at 35.00. I think it might form a second impulse leg downside by breaking the channel border and retesting the lower support level. On the daily timeframe, we have bearish impulse legs. I expect the market to break through the channel border and retest the previous lows. My goal is to support around 31.50
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Lingrid | XRPUSDT making LOWER LowsThe price of BINANCE:XRPUSDT is making lower lows and lower closes. The market made a pullback from the support and retested the resistance level at 0.5300. The price basically made a fake breakout of the level, which indicates that bulls are not willing to buy at those prices. I think the market might move towards lower support levels because, on the 4H timeframe, the price formed a long-tailed bar, rejecting the resistance. I expect the XRP to retest the move lower to round number at 0.5000. My goal is support near 0.5100
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MMM 3M Company Options Ahead of EarningsIf you haven`t bought MMM before the previous earnings:
Then analyzing the options chain and the chart patterns of MMM 3M Company prior to the earnings report this week,
I would consider purchasing the 89usd strike price Puts with
an expiration date of 2024-5-3,
for a premium of approximately $1.08.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
NZDJPY in the first half of 2024A glimpse of the NZDJPY in the first half of 2024
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GBPUSD in the first half of 2024A glimpse of the GBPUSD in the first half of 2024
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USDJPY in the first half of 2024A glimpse of the USDJPY in the first half of 2024
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USDCHF in the first half of 2024A glimpse of the USDCHF in the first half of 2024
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EURUSD in the first half of 2024A glimpse of the EURUSD in the first half of 2024
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