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Gold on the Brink: Major Price Shift Expected – Will It Surge?Key Observations: 4HR Channel: The price is operating within a larger ascending channel on the 4HR timeframe. This channel is guiding the overall bullish momentum seen in the price action. Weekly Flag: The upper trendline of the weekly flag intersects with the current price movement, suggesting that this is a significant resistance level. The price is showing a potential reversal as it interacts with this upper boundary. 15M Channels: Ascending Channel at the top of the 4HR channel: This smaller ascending channel within the larger 4HR channel might suggest a short-term bullish continuation, but it's also positioned at a critical resistance level, indicating a possible exhaustion point. Descending Channel: Indicates a corrective phase within the overall uptrend. The price broke out of this descending channel, which led to the recent upward momentum, aligning with the weekly trend. Potential Scenarios: Bullish Continuation: If the price manages to break above the ascending channel at the top of the 4HR channel, it could signal a strong bullish continuation. The price may retest the upper trendline of the weekly flag before further advancing. Bearish Reversal: Given the significant resistance from the weekly flag’s upper trendline and the upper boundary of the 4HR channel, a rejection here could lead to a decline. This might trigger a correction back down towards the lower liquidity zones (LQZ) marked on the chart. Considerations: Liquidity Zones (LQZ): The 15M LQZ around 2,485-2,477 is crucial. A break below these levels might confirm a bearish reversal, while a bounce could suggest accumulation before another upward push. Mass Psychology: As price approaches the upper resistance levels, watch for potential signs of exhaustion or overbought conditions, which could reflect a shift in trader sentiment, leading to a reversal. Strategic Approach: Risk vs. Reduced Risk Entry: If looking to enter a trade, consider the possibility of a reduced risk entry on a corrective pullback to the lower 15M LQZ if the price respects these levels. Alternatively, if the price breaks above the ascending channel, a riskier entry might be taken on the breakout, with stops placed just below the channel's boundary. Multi-Touch Confirmation: Watch for a third touch or more on either the upper resistance or lower support levels to confirm a potential reversal or breakout, as per the rule of three discussed in your uploaded materials​​​. This setup requires careful monitoring, especially at critical support/resistance levels, to determine the next directional move with confidence.
OANDA:XAUUSD
by Adlercon333
4
Target (TGT): Ready to Break Out of Its DowntrendWith Target, we have another major player in the US retail market, and we prefer its price structure over Walmart's. After completing Wave (3), Target experienced a significant sell-off, forming Wave (4). Currently, it appears that an inverse head and shoulders pattern is developing, which could signal a bullish reversal. The neckline looks particularly strong, and I will have a bullish outlook once this neckline is reclaimed. There is a breakout gap following the completion of Wave (4), which might be revisited. However, for a well-formed head and shoulders pattern, we should see some momentum soon to create two shoulders at the same level. As long as the Wave (4) level at the Point of Control (POC) holds, we expect more upside, either after a slight dip into the breakout gap or immediately following the earnings report next week.
NYSE:TGTLong
by freeguy_by_wmc
3
Gold Spot (XAU/USD) Nears Key Resistance: Major Move Ahead?Gold Spot (XAU/USD) Market Analysis - August 13, 2024 Daily Chart Overview - Broadening Wedge Pattern: The daily chart reveals a broadening wedge pattern, often associated with market indecision and potential reversal signals. This pattern, characterized by expanding volatility, suggests that the market is at a critical juncture, with the possibility of either continuing its uptrend or facing a significant correction. - Ascending Channel (Bullish Flag): Within this broader wedge, a smaller ascending channel (bullish flag) has formed. While typically a continuation pattern, the flag is currently struggling to maintain its structure as price action approaches a significant resistance zone. - Key Resistance Levels (Daily Liquidity Zone): - The price is hovering just below the Daily Liquidity Zone (LQZ), ranging between 2,477.654 and 2,484.053. This area also aligns with the previous higher high, marking it as a critical resistance zone. - A failure to break above this zone could lead to a reversal, while a successful breakout would open the path for continued bullish momentum. - Support Levels: - The Lower boundary of the ascending channel around 2,454.606 (which aligns with the 15M Liquidity Zone) serves as immediate support. - A breakdown from this level could trigger a deeper correction towards the lower trendline of the broadening wedge, likely around the 2,420 - 2,430area. 4-Hour and 1-Hour Chart Insights - Broadening Top Formation (4H): Echoing the daily pattern, the 4H chart displays a broadening top, indicating increased market volatility and a potential battle between buyers and sellers. - Descending Channel (1H): A descending channel has formed within the broadening top on the 1H chart, suggesting a short-term bearish bias. This descending channel is pressing against the 4H and Daily LQZ, increasing the likelihood of a significant price movement soon. 15-Minute Chart Considerations - Bear Flag Formation: The 15M chart shows a bear flag, a continuation pattern that could signal further downside. This pattern is forming near the 15M LQZ, reinforcing the importance of this support level. - Potential Breakdown: The price is testing the lower boundary of this bear flag. A breakdown here could lead to a continuation of the downtrend, particularly if the 15M LQZ fails to hold. Mass Psychology & Market Sentiment - Indecision and Volatility: The broadening patterns across multiple time frames reflect growing market indecision and volatility. Traders should be cautious as this setup often leads to sharp and unpredictable price movements. - Watch for Divergences: Keep an eye on potential bearish divergences on momentum indicators like RSI or MACD, particularly around the key resistance levels. These could provide early signals of a market reversal. Trading Strategy Recommendations - Wait for Confirmation: Given the critical resistance at the Daily LQZ, it’s prudent to wait for clear confirmation of either a breakout or a reversal. A strong daily close above the LQZ would be more convincing for bullish continuation. - Short-Term Bias: On the lower time frames (15M and 1H), the bias remains bearish. Caution is advised for long positions until there's a definitive break above resistance. - Risk Management: Considering the broadening patterns and associated volatility, tighter stop losses or reduced position sizes are recommended to manage risk effectively. --- Summary: Gold Spot (XAU/USD) is at a crucial inflection point, with significant resistance at the Daily LQZ and potential support at the 15M LQZ. Traders should closely monitor price action in the coming sessions, as a decisive move in either direction could set the tone for the next major trend. ---
OANDA:XAUUSD
by Adlercon333
2
USOIL ( BETWEEN TWO TURNING LEVEL ) ( 4H )USOIL HELLO TRADERS currently price between two turning level by breaking each level determine the direction , for know the price trading above turning level (2) at 74.74 , remain this level it will be attempt to reach a turning level (1) at 76.25 . Tendency, the price inside two turning level around ( 74.74 & 76.25$) . Upward Zone : in order see increase , the price need breaking turning level (1) at 76.25 , by closing 4h candle above it , easily to reach a resistance level (1) around 78.53 , remain this level indicates the price trying to reach of a resistance level (2) at 80,75 . Downward Zone: by breaking turning level (2) around 74.74 , the price dropping to reach a support level (1) at 72.82, to confirm downward , gold need breaking support level (1) by open 4h candle below it to reach a support level (2) at 71.81 . TARGET LEVEL : RESISTANCE LEVEL : 78.53 , 80.75 . SUPPORT LEVEL : 72.82 , 71.81 .
TVC:USOIL
by ArinaKarayi
Believe it or not, Bitcoin is still in the gameDespite Bitcoin showing a bear market in recent days, it remains within a range and fluctuating within a demand zone. Our point of interest is still very high, but still valid for the price to take a break before the jump. if you can look the general structure, we can see that where I marked the green circle, there is a lot of buying pressure. This is also an area of interest that I had marked as a potential rebound point. We will see what happens in the coming days. Thank you for your support. -Mike
COINBASE:BTCUSDLong
by RocketMike111
Can Gold Surpass Its Recent Highs? Expert Analysis Inside!Key Levels: Higher High (HH): Marked near the top at around 2460. Lower High (LH): Slightly lower high indicating a possible trend change. Support/Resistance Zones: Key support/resistance levels are identified on the chart. Lower Time Frame (LTF) Lower High: Indicated by a yellow line, suggesting a lower high on a smaller timeframe within the larger trend. Liquidity Zones (LQZ): Marked on the 4-hour, 1-hour, and daily timeframes indicating potential areas of liquidity. Market Structure: Shorter Time Frame Higher Low: A higher low is indicated on a smaller timeframe, suggesting potential bullish continuation. Barley Missed HH and then pushed down: Indicates a failure to achieve a higher high, followed by a downward movement. Support Rejection: The market rejects off support, suggesting a possible formation of a new higher low (HL). Observations: The market is reacting to support and resistance levels, showing signs of potential trend continuation or reversal. The presence of multiple liquidity zones suggests areas where price might seek liquidity, influencing future price movements.
OANDA:XAUUSDLong
by Adlercon333
4
PG The Procter & Gamble Company Options Ahead of EarningsIf you haven`t bought PG before the previous earnings: Now analyzing the options chain and the chart patterns of PG The Procter & Gamble Company prior to the earnings report this week, I would consider purchasing the 165usd strike price Puts with an expiration date of 2024-9-20, for a premium of approximately $2.05. If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
NYSE:PGShort
by TopgOptions
PM Philip Morris International Options Ahead of EarningsIf you haven`t sold PM before the previous earnings: Now analyzing the options chain and the chart patterns of PM Philip Morris International prior to the earnings report this week, I would consider purchasing the 109usd strike price Calls with an expiration date of 2024-7-26, for a premium of approximately $1.22. If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
NYSE:PMLong
by TopgOptions
EUR/USD Key Levels: 1.075 - 1.081 - 1.066 General Overview: The EUR/USD pair has recently lost ground in a short-term bullish recovery, testing new two-week lows near the 1.0800 level, as the movement's momentum has drained out ahead of updates on EU GDP data. The latest Federal Reserve interest rate decision is expected on Wednesday, with a new round of US Nonfarm Payrolls (NFP) scheduled for Friday. Fundamental Analysis: The US Dollar (USD) started the week on a positive note, reversing consecutive daily gains in EUR/USD and testing three-day lows near the 1.0800 region. Expectations of interest rate cuts by the Federal Reserve (Fed) and the European Central Bank (ECB) after the summer break have influenced market dynamics. In terms of monetary policy, the Fed is expected to keep rates unchanged at the July 31 meeting, while the easing cycle is anticipated to begin in September. The ECB, according to recent comments from Vice President Luis de Guindos, may also cut rates in September. This policy divergence between the Fed and the ECB could lead to further weakening of the European currency in the medium term. Key Macroeconomic Data: Market participants will closely follow the release of preliminary Q2 GDP data from both Germany and the Eurozone, as well as advanced inflation data from Germany, scheduled for July 30. The preliminary Eurozone CPI report will be released on Wednesday, followed by the outcome of the FOMC monetary policy meeting. Finally, key US macroeconomic data, including the Nonfarm Payrolls (NFP) report scheduled for Friday, will be crucial in determining the next moves for the EUR/USD pair. Technical Outlook: From a technical perspective, spot prices showed resilience below the 50% Fibonacci retracement level of the June-July rally on Monday, although the lack of significant buying suggests caution for bulls. Oscillators on the daily chart are starting to gain negative traction, suggesting that the path of least resistance for EUR/USD is to the downside. Spot prices could weaken further below the 61.8% Fibonacci level near the 1.0775 region and test the next relevant support near the 1.0745 horizontal zone. This is closely followed by the 78.6% Fibonacci level near the 1.0730 area, below which EUR/USD could challenge the June monthly low, around the 1.0660 region, with some intermediate support near the psychological 1.0700 mark. Conversely, any subsequent move up is likely to confront resistance near the 1.0840-1.0845 region or the 38.2% Fibonacci level. Sustained strength beyond this could lift the EUR/USD pair above the 1.0865 horizontal barrier towards the 1.0885-1.0890 region. Continued buying beyond the 1.0900 level should allow bulls to aim back towards retesting the multi-month peak, around the mid-1.0900s.
Short
by Forex48_TradingAcademy
1
USDJPY - Top Down AnalysisStarting with the weekly timeframe, there's some quite noticable bearish Divergence with price action and RSI leading me to believe prices may continue further south. Let's take a look at the daily timeframe. On the daily timeframe, I have 2 bearish targets but first I need to see a bit of a pullback towards the descending level of resistance. Reason I'm looking for a bullish pullback is because RSI is currently in the oversold territory. We also have a BOJ interest rate decision this evening at 11:00pm EST. Let's take a closer look at the 4 hour timeframe On the 4 hr timeframe I'm waiting for a breakout of the current consolidating range. I'm hoping for a bullish breakout which will lead into my AOI (area of interest) to look for a shorting opportunity. Lastly let's take a look at the 1 hour. On the 1 hour timeframe, it's easier to see how much room to the upside I'm waiting for. If we reach the descending level of resistance, I'll monitor the bullish momentum to ensure I'm not entering a short when bulls are strong. For that reason I have an alert set in place and now all I need to do is wait! That's it - That's all Trade Safe
Short
by Michael_Harding
Bitcoin Showing Strength, Daily Volumetric bull candlesticks !Bitcoin is following the path according to the pullbacks we have been predicting since it fell to the demand zone. Please check each bullish candle that Bitcoin forms after each pullback, it shows strength every time Following the smart money concepts and with the movement it is making based on the structure, I am expecting Bitcoin to reach my point of interest very soon. However, before reaching my point of interest, I believe we have to consider that we will see 1 to 2 small pullbacks. Thank you for following my analysis.
COINBASE:BTCUSDLong
by RocketMike111
400 Pips in a Week! Discover the Secret Behind Trading Strategy!Technical Breakdown Ascending Channel Formation: The price has been moving within an ascending channel, indicating a bullish trend. The upper and lower boundaries of the channel have provided resistance and support, respectively. Support/Resistance Level: A key horizontal level around 2,430 has acted as both support and resistance. This level was tested multiple times, showing its significance in the price action. Bear Flags: Two bear flags are identified, one on the 15-minute chart and another on the 30-minute chart. Bear flags typically indicate continuation patterns in a downtrend, suggesting further bearish movement. Higher High (HH) and Lower High (LH): The chart shows a higher high (HH) followed by a lower high (LH), indicating a potential shift from a bullish to a bearish trend. Price Target (TP): The TP is marked at 2,348, suggesting a potential downside target based on the current technical setup.
OANDA:XAUUSD
by Adlercon333
2
Oil Prices Plunge Amid Global UncertaintyCurrent Price Movement: West Texas Intermediate (WTI) futures on the NYMEX have extended their downside, trading below $78.00. This decline is primarily driven by concerns over China's economic outlook and political uncertainty in the United States. Factors Influencing the Oil Price: China’s Economic Concerns: The People's Bank of China (PBoC) unexpectedly reduced its Loan Prime Rate by 10 basis points to 3.35% (one-year) and 3.85% (five-year). This rate cut follows weaker-than-expected Q2 GDP growth of 0.7%, below estimates of 1.1% and previous figures of 1.5%. As the world's largest oil importer, China’s economic slowdown raises concerns about future oil demand, exerting downward pressure on prices. Supply Outlook: Morgan Stanley forecasts an increase in oil supply by 2.5 million barrels per day by 2025 from OPEC and non-OPEC producers. The anticipated supply growth exceeds demand growth projections, contributing to the easing of tight market fears and further weakening oil prices. US Political Uncertainty: The potential nomination of Kamala Harris as the Democratic leader and speculation about Donald Trump’s potential victory in the upcoming presidential election have created political uncertainty. Trump’s promise to increase US oil production if elected could lead to a future increase in supply, adding downward pressure on oil prices. The US Dollar Index (DXY) has edged lower amidst this political uncertainty, affecting oil prices inversely. Global Economic Indicators: Preliminary S&P Global Manufacturing PMI data from various nations are expected to provide insights into the global demand outlook, which will further influence oil prices. Canadian Dollar (CAD) Dynamics: The USD/CAD pair has risen to near 1.3750, influenced by the sharp correction in oil prices. Canada, being a leading oil supplier to the US, sees its currency affected by oil price movements. The weakening CAD amidst declining oil prices reflects this relationship. Expectations of the Bank of Canada (BoC) cutting interest rates by 25 basis points to 4.5% due to easing price pressures and a cooling labor market also impact the CAD. US Economic Data: The trajectory of the US Dollar will be influenced by upcoming US economic data, providing clues about the Federal Reserve's interest rate decisions. Political developments, such as the withdrawal of Joe Biden's re-election bid, have added to the uncertainty, impacting the DXY and, consequently, oil prices.
TVC:USOILShort
by Forex48_TradingAcademy
1