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Gold prices weakened after hitting an important resistance levelAlthough gold prices increased slightly yesterday, they adjusted back down early this morning. Gold prices continued to recover during the session on February 20, approaching the resistance level at $2,030. However, this morning the gold price had a slight correction and is currently trading around the construction level of $2,026. Gold's rise is currently being blocked by market expectations that the Fed will continue to keep interest rates unchanged in the near future. On frame D1, the RSI index rebounded strongly to 50, strengthening the short-term recovery momentum. Immediate resistance is the 21-day MA at $2,023, then the 50-day MA at $2,033. Breaking these resistances will attract more buying pressure, with buyers targeting the February 7 peak at $2,044 and key resistance at $2,050. On the contrary, if gold prices fall beyond Monday's session low near $2,011, the decline could extend to $2,005 and the 100-day MA at $2,000.
OANDA:XAUUSD
by SantaTradeGold
RIVN Rivian Automotive Options Ahead of EarningsIf you haven't sold RIVN after the Recall of Its Vehicles Due to Loose Fasteners: nor reentered the Double Bottom: Then analyzing the options chain and the chart patterns of RIVN Rivian Automotive prior to the earnings report this week, I would consider purchasing the 16usd strike price Calls with an expiration date of 2024-3-1, for a premium of approximately $1.55. If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
NASDAQ:RIVNLong
by TopgOptions
XAUUSD : The focus turns to the FOMC meeting minutesDuring the January 2 session, market expectations of the Fed cutting interest rates and geopolitical tensions in the Middle East continued to increase the safe-haven appeal of gold. However, the increase in the DXY index and government bond yields of all terms (with the 10-year yield increasing to 3.93%) may restrain the current upward momentum of precious metals. As of now, gold price is around $2061.24. In the near future, the market's focus will be on the release of the FOMC meeting minutes today, the US unemployment report on Thursday and the NFP report on Friday. Gold today will fluctuate in the 2058 to 2070 range ahead of the FOMC meeting.
OANDA:XAUUSDLong
by SantaTradeGold
USDCAD > High Quality Trend Continuation Trade!!Analysis on #USDCAD trendline support near the very important level for USDCAD, 1.2600 sharp. Waiting to see if the market will come down and tested those levels then look for a valid opportunity that meets my rules for entry to get involved in a high quality trend continuation trade. like and comment will be hugely appreciated, thank you so much for your support. Check today analysis below⠀ >>“ Success is where preparation and opportunity meet." TradingAxis
by TheTradersAvenue
13
Signals from Crypto-Sticks TRIX STIX - caught the GOBTC Pump!Another entry for you all in the public library Crypto-Sticks series. More STILL to come! What I particularly love is these indicators give you an added 3rd dimension to viewing them otherwise. You can see how much fluctuation occurred, get better divergence signals, find higher/lower extremes, and use in combination for secondary confirmation! Here's an example of how to use the Crypto-Sticks TRIX for trading signals. I also plotted this range's signals the indicator would've generated. TRIX is a slightly lagging indicator meaning it catches trends better than it catches absolute bottoms and tops. So using something like Bottom Top Finder can help you pinpoint an even better entry and exit. Please remember that you will potentially have to adjust the TRIX overbought and oversold levels to suit the volatility of the instrument you are working with. In the future I will implement a feature that does this automatically, but for now its manual. The OB/OS zones are given in two levels, because often you can find a line of best fit that will hit "small movements" and one that will hit "big movements." Heiken Ashi (default setting) candles adds some more clear trend changing points which can be executed at the second candle going in either direction. Other coins/charts will require their own strategy - you could potentially have to tweak that parameter. In this example you would enter on 2nd green, exit on 2nd red. Volume weighting the HA candles adds a different dimension to the indicator which I have to explore more fully. Please note on this indicator i believe it provides no additional value, but I left it is as An example of VW+HA: Enjoying this indicator or find it useful? Please give me a like and follow! There are many more indicators to be released in this series, not to mention I post crypto analysis and other free indicators regularly. Questions? Comments? Want to get access to an entire suite of proven trading indicators? Come visit us on telegram and chat, or just soak up some knowledge. We make timely posts about the market, news, and strategy everyday. Our community isn't open only to subscribers - everyone is welcome to join.
by theheirophant