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Support and Resistance

GOLD → Market confirms downtrendFX:XAUUSD is testing resistance of a key descending channel. Bears continue to resist based on important fundamental aspects of the global economy Fears of further geopolitical escalation between Russia and Ukraine are likely to subside a bit. In addition, the Fed speech will help determine the U.S. central bank's future path on interest rates. Attention is focused on the December rate meeting.... Technically, the gold confirms the downtrend channel, so we have a key trend to follow in our trading decisions. A false breakdown of the local resistance at 2627 is forming. Consolidation of the price below this zone may provoke further decline Resistance levels: 2627, 2643 Support levels: 2694, 2560 Another resistance retest is possible. It will be possible to talk about buying after the price will be able to break 2643 and consolidate above this zone (additional scenario). But in priority I consider further decline from 2627 or from the channel resistance Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDShort
by RLinda
7
GOLD (XAUUSD): Wait For ConfirmationUpdate on Gold 📈 The setup we posted earlier is no longer valid as the Gold price failed to break the neckline of the double top. Now it appears that Gold may be getting ready for a bullish trend. Analyzing the 4-hour time frame, we spotted a descending resistance trend line and a confirmed break above it. The key level for buyers to overcome is the support range of 2638 - 2655 on the 4-hour time frame. If this level is broken and closed above, it will indicate a strong bullish signal. Subsequently, a bullish trend could extend to at least 2700.
TVC:GOLD
by linofx1
4
THE KOG REPORT - UpdateEnd of day update from us here at KOG: CLEAN LEVEL TO LEVEL TRADING! That was the plan all the way from the beginning of the month when we published the Election special together with the KOG Reports. We wanted pull backs and managed to get them today giving us another opportunity to long into the bias target levels and Excalibur which are now completed. Today, I hope traders noticed we even shared the Red box targets we use, which are also completed. Now, we have support below 2635-40 which is reasonable for price to attempt, but it needs to break to go lower. Otherwise, I would like to see this attempt a higher high before then completing the reversal to the downside. From Camelot this morning: Support: 2620 / 2617 / 2615 / 2620 / 2606 Resistance: 2630 / 2640 / 2647 / 2650 / 2654 / 2659 Price: 2624 KOG’s Bias of the day: Bullish above 2610 with targets above 2630 Bearish on break of 2610 with targets below 2595 RED BOXES: Break above 2625 for 2638, 2650 Break below 2613 for 2605 As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
3
EURUSD → Consolidation “flag”. Willingness to go below...FX:EURUSD is forming a consolidation in the “flag” format, the purpose of which, in the current situation, is to accumulate the potential for continuation of the trend... Fundamental background is still negative. On D1 we can clearly see the consolidation below the key level of 1.0600 after a strong fall. There is no proper and logical reaction in the form of a pullback. Accordingly, based on this we can conclude that the dynamics and strength of the buyer is not enough to reverse the local situation. The dollar is starting the recovery phase again, which may put pressure on the euro. Technically, the emphasis on consolidation “flag”. The exit of the price from the boundaries of this channel will provoke further movement. Resistance levels: 1.0606 Support levels: 1.0521, 1.044 It is not worth trading inside the flag. The exception is a retest of resistance. Opening an order is acceptable after a false breakout. But, the emphasis is on 1.052. Breakout and fixing of the price below this zone can strengthen the fall Rate, share your opinion and questions, let's discuss what's going on with ★ FX:EURUSD ;) Regards R. Linda!
Short
by RLinda
4
GBPJPY FORECASTIn this analyze we are focusing on 30M time frame chart for GBP/JPY. On the basis of support and resistance along with price action and liquidity concept. So we will wait for price when price enter into our zone than after any bullish confirmation we will take our long position trade. Let's delve deeper into these levels and potential outcomes. Always use stoploss for your trade. Always use proper money management and proper risk to reward ratio. This is just my analysis or prediction. #GBPJPY 30M Technical Analyze Expected Move.
Long
by TradeTacticsreal
3
NOT NEW UPDATE (Still Bullish)This analysis is an update of the analysis you see in the "Related publications" section Our team has prepared another update for NOT. Don’t worry, it’s still valid. This update simply provides another opportunity for those who missed the initial entry. We have identified two points for re-entry. The target has been updated. There are numerous reverse liquidity pools above the chart, and we also have an unutilized base that acts like a magnet. The closure of a daily candle below the invalidation level will invalidate this analysis. For risk management, please don't forget stop loss and capital management Comment if you have any questions Thank You
by behdark
2
EURUSD Will be in bearish direction after Breaking ChannelHello Traders In This Chart EURUSD HOURLY Forex Forecast By FOREX PLANET today EURUSD analysis 👆 🟢This Chart includes_ (EURUSD market update) 🟢What is The Next Opportunity on EURUSD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Long
by ForexMasters2000
8
FTM Long Spot Trade (Trading at Support)Market Context: FTM is currently trading at a support level, with the price oversold on the 4-hour timeframe. This setup presents a favorable opportunity for a long trade, expecting a bounce from this area. Trade Setup: Entry: Around $0.66 Take Profit Targets: First target: $0.76 - $0.78 Second target: $0.82 - $0.84 Stop Loss: Just below $0.645 This setup takes advantage of oversold conditions and support alignment, with a strong risk-to-reward profile.
Long
by Richtv_official
2
GOLD (XAUUSD): Your Trading Plan For Today GOLD is currently trading in a unique area where a horizontal supply area has been recently broken and there is also a falling trend line. I anticipate a bearish accumulation in this specific area. To confirm a short position, look for a double top formation on the 1-hour time frame with a neckline between 2626 and 2620. Wait for a bearish breakout with an hourly candle closing below this level, then sell on a retest. The target for this trade will be 2592. If the price breaks above this zone, the setup will no longer be valid.
TVC:GOLDShort
by linofx1
1
EurJpy Trade Idea I personally just took some shorts on EJ to get the week started ! EJ was in a small range before retesting a level at 165 while still being bearish on the higher time frame. Price not only flipped bearish on the higher time frame but also crashed back below a daily level of resistance. Smaller time frames gave a clean flip at the daily level of resistance with the bullish run after the pullback being over. I'm looking for a 1:3rr on this set up. If all goes well price could tap back into the low at 162.300. We'll see what happens.
Short
by OfficialJ23
1