SPY/QQQ Plan Your Trade For 10-11 : Inside Breakaway PatternHappy Friday.
Today's Inside Breakaway pattern for the SPY should prompt a solid rally attempt - where the SPY/QQQ should rally higher to close out the week. I'm targeting the 580+ level for the SPY over the next 5+ trading days.
Gold and Silver are moving into a Top-Resistance pattern. This suggests Gold and Silver will rally, form a peak, then roll slightly downward today. I'm still targeting the 2670-2680+ level for Gold as a peak today. Silver will lag, but will likely setup a peak near 32.00.
Bitcoin collapsed, then recovered overnight - forming a very large Deep-V base. Now, this recent recovery is setting up as a Bearish Excess Phase Peak pattern and may likely roll into the Downward Flagging phase.
Be aware, this type fo deep low was the result of a Bullish Excess Phase Peak pattern completing the full 5 phases - ultimately reaching the "ultimate low" with the Deep-V bottom.
This current setup in BTCUSD suggests price will attempt to recover as long as the Deep-V low price is not breached.
Volatility is here. Price ranges will continue to be volatile through and after the US elections.
So be aware that news, data, or other items may cause price to react very violently over the next 2+ months.
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Silver
SILVER: Local Correction Ahead! Buy!
Welcome to our daily SILVER prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the upside. So we are locally bullish biased and the target for the long trade is 31.45871$
Wish you good luck in trading to you all!
Gold & Silver Have Confirmed An Attempt To New ATHsWatch this video to understand how Fibonacci Price Theory suggests Gold & Silver are moving in a bullish price trend - attempting to break recent resistance levels.
I believe Gold and Silver will continue to rally, reflecting global capital risk factors, and break to new ATHs before the end of 2024.
My target for Gold by Dec 31, 2024 is $3030-$3250.
My target for Silver by Dec 31, 2024 is $34.5-$37.50.
Here we go.
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SILVER: Market Is Looking Down! Sell!
Welcome to our daily SILVER prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the downside. So we are locally bearish biased and the target for the short trade is 30.38629$
Wish you good luck in trading to you all!
SPY/QQQ Plan Your Trade For 10-10 : Carryover in Carryover ModeToday's cycle pattern suggests the SPY/QQQ price action will be very similar to yesterday's price action. I believe the markets are starting to move away from the basing/bottoming phase and moving back into trending phase.
Thus, I believe the SPY & QQQ will begin a rally up to highs reached before October 20-21, then form a top, and toll downward just before the US elections.
Gold needs to find some support and move higher - away from the 2625 price level. It is critical that Gold stay above 2620 at this stage. if Gold falls below 2620 - there is a very strong chance Gold will move into deeper consolidation and fail to rally above the 2750++ level I expect.
BTCUSD has already reached my lower support zone. I do expect Bitcoin to consolidate a bit near this lower price channel, but the next move is to either revert higher, or breakdown even further. Currently, I suggest waiting 20 to 48 hours with Bitcoin to let price settle on a new trend.
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Rebound correction Silver. H4 09.10.2024Rebound correction Silver
Silver made a reversal downwards, which I wrote about in the last post Now the price has approached the margin zone and local support 30.20 from which they can make correction upwards. However, I believe that the fall will continue to the strong support zone 28.06-28.86 and in this zone I will look for culmination and a buy signal. Also, silver is now trading in the past profile accumulation area and if there is no reaction up, it will confirm the thoughts of a deeper decline.
CAPITALCOM:SILVER
SILVER: Local Correction Ahead! Buy!
Welcome to our daily SILVER prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the upside. So we are locally bullish biased and the target for the long trade is 30.71992$
Wish you good luck in trading to you all!
SPY/QQQ Plan Your Trade For 10-9 : Breakaway In Counter TrendToday's video goes over why I believe today will be somewhat quiet in terms of trending and expectations. As I suggested in the video, today is a good day to trade with only 20-30% position sizes - or to take a day off and go golfing.
I don't expect any big moves today - even though today's pattern is a Breakaway in Counter-trend mode.
I believe the markets will pause today - seeking support/resistance and trying to establish a range for a bigger move on Thursday/Friday.
I hope you guys are learning how to use the Excess Phase Peak patterns more efficiently. They are not easy to learn - especially now that I'm showing both the Ying & Yang side of these patterns.
They happen everywhere and can be very important when making decisions.
Remember, price only does two things: Trends or Flags.
That's it. There is no other type of price action you have to prepare for.
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Can SILVER BREAKOUT above 32.50?Silver (along with every other beaten down commodity) exploded on the news of China's stimulus! Unfortunately for silver bugs "somebody" was lying in wait with a mighty big hammer when it poked its head above 32.50.
In a vacuum the fundamentals (supply/demand) are incredibly bullish. However in the macro context of China's housing and economic woes there is a bear case to be made for base and industrial metals. If Copper starts rolling over I expect Silver to follow. Raw cash injections might keep Chinese stocks afloat but I do not believe it alter the reality of the real economy and its effect on commodities.
In addition to the issues with China, the US is at serious risk of a recession. 50 basis point cut has never been bullish. If you take the time to look at the last initial 50 basis point cuts it might curb your enthusiasm. I know... this time "its different"
TECHNICALS:
Silver may retrace to the $30 breakout level.... Great re-entry... if it holds... ( ;
If Silver is able to hold above 32.50 the rally remains intact.
Silver H4 | Potential bounce off swing-low supportSilver (XAG/USD) could fall towards a swing-low support and potentially bounce off this level to climb higher.
Buy entry is at 30.05 which is a swing-low support.
Stop loss is at 29.48 which is a level that lies underneath an overlap support and a 61.8% Fibonacci retracement level.
Take profit is at 31.13 which is a pullback resistance that aligns with the 38.2% Fibonacci retracement level.
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Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
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XAGUSD H4 | Bearish Reversal Based on the H4 chart analysis, we can see that the price is rising toward our sell entry at 31.12, which is a pullback resistance and a 38.20% Fibonacci retracement.
Our take profit will be at 30.13, an overlap support level.
The stop loss will be at 31.79, an overlap resistance level.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider.You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
SILVER Will Go UP! Buy!
Hello,Traders!
SILVER price dropped
Today but then it came
Close to retesting the
Horizontal support below
At 30.00$ and we are
Already seeing a bullish
Reaction so as we are
Bullish biased we will be
Expecting a further move up
Buy!
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Check out other forecasts below too!
XAGUSD Buy opportunity near the 1day MA50.Silver / XAGUSD is approachint the 1day MA50, being on a Channel Up since the August 8th low.
The long term pattern is also bullish, an uptrend on a Rising Support, exactly where the 1day MA200 is.
Technically the 1day MA50 is the first buy entry of this pattern and the Rising Support the second.
The 1day RSI suggests that based on the March 26th 2024 fractal, we won't need the Rising Support yet.
Buy and target the 1.382 Fibonacci (35.000).
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Gold Washout Low/Excess Phase Peak #3 Setup - Get ReadyThis short video highlights why I believe Gold is building a base near $2640 for a big rally move up to $2760++.
Yes, I highlight some concerns in this video.
I expected Gold to move more aggressively to the upside over the last 36 hours, but this is trading. Everything doesn't work out perfectly in all instances.
If you are trading Gold, this video should help you understand what is happening on the price chart and why it is so important for Gold to build a base and move higher from these lows.
If Gold breaks below $2620, all bets are off, and we may see a broader breakdown. But I don't think that is likely to happen with this move.
I still see the $2780 level as the upper target.
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SPY/QQQ Plan Your Trade For 10-8 : Gap Breakaway PatternToday's Gap Breakaway pattern suggests the SPY/QQQ will gap up and rally higher - moving away from yesterday's base/bottom.
Remember, we had two basing and bottoming patterns over the weekend. Although I don't really count weekend patterns as drivers of price trends, I view them as psychological patterns. In other words, they reflect expectations headed into the following week of trading.
So, the basing/bottoming patterns last weekend will likely resolve into a melt up type of trend this week and the gapping/breakaway patterns this week will, as a result, present a strong opportunity to the upside for traders.
Recently, I started drawing the "Roadmap" trade signals on the charts for traders. This is an attempt to make things easier for all of you. Allowing you to see where the opportunities are for Options or Share trades more clearly.
Ideally, if this works for all of us, then I'll be able to map out 4 to 7+ days of price rotation in clear trade triggers for all of us to use.
Now, something interesting I wanted to point out is the SPY has just moved into a #3 phase of an Excess Phase Peak pattern. It is a very small pullback off a high - but it is still a valid Excess Phase Peak pattern.
If price rallies today, as I expect, this rally will invalidate the Excess Phase Peak pattern and put us into a strong rally phase targeting $605 on the SPY.
Gold is getting ready to move into a basing/support zone over the next 18+ hours - then really start to rally higher.
BTCUSD has rolled downward - just as I expected moving into the #3 phase of it's Excess Phase Peak pattern.
Again, if you are not paying attention - I'm picking apart all of these charts very cleanly and the information I present should be helping you see and identify better trade opportunities.
Tell me how I'm doing.
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SILVER: Move Down Expected! Sell!
Welcome to our daily SILVER prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the downside. So we are locally bearish biased and the target for the short trade is 31.07367$
Wish you good luck in trading to you all!
SILVER SHORT FROM RESISTANCE
Hello, Friends!
Previous week’s green candle means that for us the SILVER pair is in the uptrend. And the current movement leg was also up but the resistance line will be hit soon and upper BB band proximity will signal an overbought condition so we will go for a counter-trend short trade with the target being at 27.288.
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SPY/QQQ Plan Your Trade 10-7 Roadmap UpdateThis short video updates traders related to the SPY & GOLD Cycle Patterns and how I see price playing out over the next 48+ hours.
I also highlight the resistance level setting up in BTCUSD.
Should be interesting to see how this plays out over the next 4+ days.
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Silver struggles at key resistanceSilver has now failed t break the $32.00 level on multiple occasions - but it may do so soon Still, the fact that we have tried to take out the May high of $32.51 twice in as many weeks and have failed to hold there may be a sign of waning bullish momentum. At the time of writing, silver was still holding above key support in around the $31.35 - $31.50 area (blude shaded area). The line in the sand is at $30.88, the most recent low. If this level breaks then we may see a correction to below $30.00 with $29.00 being a key support where we may see silver start another bullish trend. So let's wait and see what silver does here. In the longer-term, I continue to think silver is headed for $35.00 at least. But I am not so sure about the short-term path, especially in light of most recent price action.
If you trade silver, make sure to keep an eye on gold. The yellow metal remains supported by strong fundamentals, with central bank rate cuts and geopolitical tensions bolstering demand for the safe-haven asset. Despite recent dollar strength, which has capped gold's upward momentum, factors like rising oil prices, Middle Eastern unrest, and China's economic stimulus continue to lend support. However, the Fed Chair's indication of a more cautious approach to rate cuts means gold could potentially ease back as the dollar comes back. This could also negatively impact silver in the short-term outlook.
By Fawad Razaqzada, market analyst with Forex.ocom
SILVER Set To Fall! SELL!
My dear friends,
Please, find my technical outlook for SILVER below:
The instrument tests an important psychological level 32.202
Bias - Bearish
Technical Indicators: Supper Trend gives a precise Bearish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 31.709
About Used Indicators:
Super-trend indicator is more useful in trending markets where there are clear uptrends and downtrends in price.
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WISH YOU ALL LUCK