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Support and Resistance

Technical Analysis for Gold Spot/USD (1-Hour Chart)Current Market Overview Current Price: $2,646.34 Market Trend: Bearish with a range-bound consolidation phase after a strong decline. Key Support and Resistance Levels: Resistance: $2,646.34 (current zone), $2,692.50, and $2,725.84 Support: $2,632.71, $2,613.26, and $2,602.79 Bullish Scenario Technical Factors Price Action: Price is stabilizing above $2,632.71, a key support level, with a small bounce attempting to hold around the current range near $2,646. Multiple rejection wicks below $2,640 signal buyers defending this region. Volume Profile: The green delta volume spike near $2,632.71 (41.54K volume) suggests buyers stepped in at this support. Indicators: The pink EMA cloud still indicates bearish pressure, but it is flattening, suggesting the bearish momentum is losing steam. A close above the bearish cloud and price sustaining above $2,646 could signal a reversal. Support Zone: Strong buying demand is seen between $2,632.71 and $2,613.26. Probable Entry Points Entry: Early Entry: Near $2,640 to $2,646 once price consolidates and shows bullish candle formations (hammer, engulfing). Confirmed Entry: Break and close above $2,652 with strong volume. Take-Profit Targets Short-term TP1: $2,660 (recent minor resistance). TP2: $2,692.50 (15% delta volume zone). Extended TP3: $2,725.84 (higher resistance and key supply zone). Stop-Loss Place SL below $2,632 to protect against further downside. Bearish Scenario Technical Factors Price Action: Price remains under pressure below the pink EMA cloud and has struggled to close above it since December 16th. Lower highs continue to form, confirming bearish structure. Volume Analysis: Strong selling pressure is evident near $2,646.34, shown by red bearish delta volumes. Sell zones around $2,646 to $2,660 are seeing repeated rejections. Resistance Zone: $2,646 to $2,652 acts as immediate resistance, and failure to break above this level could trigger further selling. Bearish Continuation Signal: A close below $2,632.71 will confirm bearish continuation to lower support zones. Probable Entry Points Entry: Aggressive Entry: Near $2,646 (sell at rejection or bearish engulfing candles). Confirmed Entry: Breakdown and close below $2,632.71. Take-Profit Targets Short-term TP1: $2,632.71 (immediate support). TP2: $2,613.26 (key support zone). Extended TP3: $2,602.79 (final strong support and green demand zone). Stop-Loss Place SL above $2,652 or $2,660 to protect against a bullish reversal. Summary: Trading Plan Scenario Entry Zone Stop-Loss Take-Profit Targets Bullish $2,640 - $2,646 Below $2,632 TP1: $2,660, TP2: $2,692, TP3: $2,725 Bearish $2,646 - $2,652 Above $2,660 TP1: $2,632, TP2: $2,613, TP3: $2,602 Conclusion Bullish Bias: If price closes above $2,652 with strong volume, expect a move toward $2,692 and higher. Bearish Bias: A rejection at $2,646 - $2,652 or a breakdown below $2,632.71 will likely push prices toward $2,613.26 - $2,602.79. Recommendation: Watch price behavior at $2,646 and $2,632.71 for confirmation. Use proper risk management and wait for clear breakouts or rejections.
FX:XAUUSD
by ProspireWealth
Mean Reversion CME GAP at FOMC -> Pump until BOJ Rate DecissionHello guys! I will share a mean reversion idea on Bitcoin with you today. I expect Bitcoin to close the CME Gap, that got made at the beginning of the week. Currently we are very close to starting the recovery process. The CME Gap closing aligns very good with a mean reversion to the 50EMA on the 4hr timeframe. This could be an indication for a trend continuation of Bitcoin to the upside until friday when the Bank of Japan (BOJ) will decide their rate policy. We will look into the chart from a new perspective on friday so take this trade idea as a short term one. I mentioned in the chart that we have an unrecovered pink vector candle at the top. This could be an good area to aim for in the reversal process to take profit. With good execution this could be an good trade from 102k to 108k. Me personal, I don't think we will see a rate cut and if so only a small one. So nothing that will shake the markets to hard. I hope. Trade SAFE!
CME:BTC1!Long
by reports20netrust
EUR/USD: Poised for a Reversal?On November 23, FOREXCOM:EURUSD broke below the critical 1.05 support zone, reaching a low of 1.0336. However, the pair quickly reversed course and has since been trading in a range between 1.0450 and 1.06. A closer look at the price action suggests the pair has established a strong floor and is awaiting a catalyst for an upward reversal. That catalyst could very well come today, with the anticipated Federal Reserve rate cut and subsequent press conference. Given the accumulated market tension, an accelerated move to the upside seems likely. Key Levels to Watch : Support: Any dips below 1.05 should be viewed as buying opportunities, with the potential for a rebound. Resistance: A target around 1.0750 appears realistic in the current context. Invalidation Level: If the price falls back below 1.04, this bullish scenario would be negated.
Long
by Mihai_Iacob
NOTUSDT 1H – Bullish Wave 5 BreakoutHEY GUYS I HOPE YOU FIND THIS IDEA VERY WELL Elliott Wave Structure: Wave 1 to Wave 4 has completed successfully. Wave 5 is now forming with momentum shifting to the upside. Key Levels: 🎯 Target Profit (TP): 0.00874 🛑 Stop Loss (SL): 0.000763 Trendline Break: The price has broken above the descending trendline (yellow), signaling a bullish continuation setup. Momentum Confirmation: Heikin Ashi candles show decreasing selling pressure and bullish momentum starting. Trade Setup: Entry Zone: Current breakout levels. Take Profit: 0.00874 (Wave 5 target). Stop Loss: Below Wave 4 at 0.000763 for a solid risk management setup. Bias: ✅ Bullish – Wave 5 Potential Upside 🚀 ⚠️ Note: Always monitor volume, confirmation, and overall market conditions for risk management. Disclaimer: This is not financial advice. Trade at your own risk and perform your own analysis before entering any positions. #Altseason2025 #CryptoMarket #OTHERS.D #Altcoins #CryptoBreakout #TradingViewIdeas
Long
by Supachai-Taechapisit
Boyd Gaming Stock Quote | Chart & Forecast SummaryKey Indicators On Trade Set Up In General 1. Push Set Up 2. Range Set up 3. Break & Retest Set Up Notes On Session # Boyd Gaming Stock Quote - Double Formation * (Neckline) | Survey Valid | Subdivision 1 * 50.00 USD | A+ Set Up Area - Triple Formation * Retracement | 0.382)) | Subdivision 2 * Trend Line 1 & 2 | Configuration * Daily Time Frame | 85.00 USD Trend Entry | Subdivision 3 Active Sessions On Relevant Range & Elemented Probabilities; London(Upwards) - NYC(Downwards) Conclusion | Trade Plan Execution & Risk Management On Demand; Overall Consensus | Buy
CAPITALCOM:BYDLong
by TradePolitics
Spy Short Well Well Guys, Yes I'm going to continue to go short especially this week with the big big decision of rate cuts Wednesday, if not this Friday or Monday 600 target I'm definitely out of the short position for now!! The New Narrative Trend by the way, is Insane how the results have been so far if you want more info content is out right now about it, generational wealth will be made!! And Yes you can still get in!!! Goodluck Traders and I will Follow Up With Spy on Tuesday Spy under falls under 605 602 for sure that's when we should see blood in the streets QQQ forget about it its A short 1st target $528
AMEX:SPYShort
by JoeWtrades
13
EurAud could accelerate to the upside (1.7 target)After dipping below the key 1.6 level—both a technical and psychological threshold—at the end of November, EUR/AUD quickly rebounded and began climbing in a constructive manner. Recently, it established solid support at the 1.6350-1.6360 zone, with two notable reversals from this area observed last week. As of now, EUR/AUD is trading at 1.6507, just below a technical resistance level, with the price action showing signs of a buildup. The odds favor an upward breakout, and if this materializes, it could lead to a sharp acceleration higher. In this scenario, my swing trade target is the 1.7 mark. For now, my strategy is to buy on dips, anticipating the breakout and preparing for the upside momentum.
Long
by Mihai_Iacob
10
AUDUSD InsightHello, subscribers! It's great to see you all. Please feel free to share your personal opinions in the comments. Don’t forget to like and subscribe! Key Points - U.S. retail sales for November, reported by the Department of Commerce, increased by 0.7%, surpassing market expectations. - Strong retail sales indicate that the momentum of the U.S. economy is strengthening. While a rate hold is widely expected at the December FOMC meeting, the prevailing view is that rates will also remain on hold in January. - With the Japanese yen weakening further against the dollar, some suggest that Japanese authorities might intervene in the currency markets. I- n the U.K., wages rose by 5.2% year-over-year from August to October, exceeding expectations and driving the pound higher. - In Canada, the November Consumer Price Index (CPI) rose by 1.9%, falling short of the market estimate of 2.0%, which weakened the Canadian dollar. Key Economic Indicators + December 18: U.K. November CPI, Eurozone November CPI, FOMC meeting results + December 19: Bank of Japan rate decision, Bank of England rate decision + December 20: U.S. November Personal Consumption Expenditures (PCE) Price Index AUD/USD Chart Analysis The AUD/USD pair has finally broken below the 0.63500 level. Based on the current chart, further declines toward the 0.62000 level seem likely. However, the direction could shift upward depending on the stance the Federal Reserve takes during this week’s FOMC meeting. If unexpected factors lead to an upward move, I’ll quickly revise the strategy accordingly.
Short
by shawntime_academy
AUDJPY Fall? And potential Stock Market correction?Potential short idea on AUDJPY Reasons for (potential) entry: - COT traders are buying JPY and selling AUD fairly aggressively - AUD cutting interest rates, JPY hiking interest rates - AUD could be under pressure due to reliance on China, who are facing economic uncertainty In the past, when COT traders have bought JPY as aggressively as this there's been a stock market correction after it. Not saying it's definitely going to happen again - but JPY is seen as a 'safe-haven' currency and it's usually bought up when investors are risk-off. Stocks have been on a crazy bull run for the last year, I wouldn't be too surprised if there was some sort of correction in it soon.
Short
by ciantrades
7
US30 painting a beautiful downtrendUS30 Technical Analysis Report December 16, 2024 Current Market Overview The US30 (Dow Jones Industrial Average) is currently displaying a significant bearish bias, with multiple timeframe analysis supporting a continuation of the downward momentum. Current price: 43,886 Technical Analysis by Timeframe Daily Timeframe (HTF) Confirmed bearish market structure break at 44,392 (December 10, 2024) Overall Higher Timeframe trend remains bearish This break serves as a key reference point for the current bearish momentum 4-Hour Timeframe (H4) Clear downtrend pattern formation Current price action showing retracement to sweep buy/sell liquidity zones Price action respecting the downward trendline range Suggested entry level identified at 43,809 1-Hour Timeframe (H1) Key resistance level identified at 44,058 Potential for temporary trend interruption if this level is breached Currently operating within Asian session range boundaries Key Trading Levels Entry Target: 43,809 Take Profit 1 (TP1): 43,345 Extended Target (TP2): 42,890 (conditional on market alignment) Key Resistance: 44,058 Previous Structure Break: 44,392 Volume Analysis Current phase: Asian session (characterized by lower volume) Critical observation period: New York session open Anticipating increased volume and potential trend confirmation during NY hours Risk Management Considerations Primary trend remains bearish Watch for potential temporary reversals at 44,058 Monitor NY session volume for trade confirmation Consider partial position closure at TP1 (43,345) Trading Session Context Currently in Asian trading hours Key decision point expected at NY session open Volume expected to increase significantly during NY hours, providing better trade execution opportunities Trade Strategy Summary The overall strategy aligns with the bearish bias across multiple timeframes. Entry opportunities are being monitored at 43,809, with a structured approach to take profit levels. The New York session will be crucial for volume confirmation of the anticipated moves. Note: This analysis is provided for educational purposes only and does not constitute financial advice. All traders should conduct their own research and risk assessment before entering any positions.
ICMARKETS:US30Short
by FXCapitalClub