Get started

Trading-forex

CHF/JPY Short, GBP/JPY Short, USD/JPY Short and GBP/NZD ShortCHF/JPY Short • If price impulses down below the base of our most recent ending structure, then I'll be waiting for a subsequent tight flag to form and then I'll filter it latter on the fifteen minute chart and be looking to get short with either a risk entry within it if the flag is structured, or a reduced risk entry on the break of it if it's unstructured or I don't manage to secure a risk entry. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. GBP/JPY Short • If price pushes up to and ideally just above our area of value, then regardless of how it does so I'll be waiting for a subsequent impulse back down followed by a tight flag and then I'll filter the latter on the fifteen minute chart and be looking to get short with either a risk entry within it if the flag is structured, or a reduced risk entry on the break of it if it's unstructured or I don't manage to secure a risk entry. • If price simply impulses down below the sharp hook point below which I've highlighted using a rayline, then I'll be waiting for a subsequent tight flag to form and then I'll filter it latter on the fifteen minute chart and be looking to get short with either a risk entry within it if the flag is structured, or a reduced risk entry on the break of it if it's unstructured or I don't manage to secure a risk entry. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. USD/JPY Short • If price corrects and a two touch tight flag forms with a three touch structural approach, then I'll filter it on the fifteen minute chart and be looking to get short with a risk entry within it. • If price corrects and a three touch larger one hour structure forms, then I'll filter it on the fifteen minute chart and be looking to get short with a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. GBP/NZD Short • If price impulses down below our most recent correction and a subsequent tight flag forms, then I'll filter the latter on the fifteen minute chart and be looking to get short with either a risk entry within it if the flag is structured, or a reduced risk entry on the break of it if it's unstructured or I don't manage to secure a risk entry. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair.
Short
by StewySongs
GBPUSD is trending upAfter a four-day consecutive correction from the high point of $2,088 on December 28th, gold prices saw a slight increase on Thursday, reaching above $2,050. This indicates that the correction signal for a larger uptrend still receives some support, as technical studies in the daily chart remain in the main bullish trend. Gold continues to benefit from the widespread expectation that the Fed will begin cutting interest rates in 2024, as well as signals suggesting a potential economic slowdown in the US this year. However, due to the minutes of the meeting showing significant uncertainty about the prospect of a Fed rate cut, the expectations for an early rate cut in March have gradually diminished. This has created resistance to further upward movement in gold prices and made the downside risks more fragile. Bulls need to break the key resistance between $2,052 and $2,058 to initiate new bullish momentum and achieve a stronger recovery. Breaking this range, bulls will face strong resistance at $2,063-$2,066 to strengthen the bullish structure and attempt to break above $2,100 again. However, as the New York session progresses, a series of data releases have not supported this structure, increasing the risk of further downside for gold prices. In this context, the fragility of gold prices needs to adjust downward until testing the upward trend support at $2,009. In terms of trading strategy, it is recommended to go short at highs.
by NicoTradingMaster
UJ at a flip zoneHello fellow traders , my regular and new friends! Welcome and thanks for dropping by my post. Looking at a potential double bottom to break to the upside, if that doesnt happen UJ likely gonna move lower ,waiting for h1 confirmation... Do check out my stream video for the week to have more explanation in place. Do Like and Boost if you have learnt something and enjoyed the content, thank you! -- Get the right tools and an experienced Guide, you WILL navigate your way out of this "Dangerous Jungle"! -- ********************************************************************* Disclaimers: The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes. *********************************************************************
by Shadowing_The_Big_Boys
USD a potential inverted h&s on h4Hello fellow traders , my regular and new friends! Welcome and thanks for dropping by my post. Seems like for USD, NFP has yet to make a decisive move, am still watching for breakout on the 1 hourly chart to decide my biasness but for now, slightly on the bull side but things can change. So let's watch the PA first. Watching Chfjpy too! Do check out my stream video for the week to have more explanation in place. Do Like and Boost if you have learnt something and enjoyed the content, thank you! -- Get the right tools and an experienced Guide, you WILL navigate your way out of this "Dangerous Jungle"! -- ********************************************************************* Disclaimers: The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes. *********************************************************************
TVC:DXY
by Shadowing_The_Big_Boys
9 Essential TIPS For Newbie Traders (Learn from my Mistakes!) In the today's article, I will reveal trading secrets I wish I knew when I started trading. 1️⃣ Forget about becoming a pro quickly Most of the traders believe, that you can learn how to trade easily and that it takes a very short period of time in order to master a profitable trading strategy. The truth is, however, that trading is a long journey. I spent more than 3 years, trying different strategies and looking for a profitable technique to trade. Once I found that, it took more than a year to polish a trading strategy and to learn how to apply that properly. Be prepared to spend YEARS before you find a way to trade profitably. 2️⃣ Focus on One Strategy While you are learning how to trade you will try different techniques, tools and strategies. And the thing is that newbies are trying multiple things simultaneously. The more strategies you try at once, the more setups you have on your chart. The more setups you have on your chart, the more complex and difficult is your trading. Remember that in this game, your attention is the key. You should meticulously study each and every trading setup. For that reason, I highly recommend you to focus on one strategy, one approach, one technique. Test it, try it and look for a new one only when you realize that it doesn't work. Here is the example how the same price chart can provide absolutely different trading opportunities depending on a trading strategy. Price action pattern trader would recognize a lot of a patterns, while indicator based trader could spot absolutely different bullish and bearish signals. Now, try to imagine how hard it would be to follow both strategies simultaneously. 3️⃣ Start with small capital that you can afford to lose You will lose your first trading deposit and, probably, the second one and potentially the third one as well. Losses are the only way to learn real trading. While you are on a demo account, you feel like a king, but once you start risking your savings, the perspective completely changes. For that reason, make sure that you trade with an account that you can afford to lose. The fact of blowing such an account should be unpleasant, but that should not affect your daily life. 4️⃣ Use stop loss I am doing trading coaching for more than 4 years. What pisses me off is that the main reason of the substantial losses of my mentees is the absence of stop loss. Why can it be if naturally everyone: from your broker to Instagram trading gurus repeat that day after day. Set stop loss, know in advance how much you risk per trade, and know the exact level on a price chart where you become wrong. Imagine what could be your loss, if you shorted USDJPY and hold the trade while the market kept going against you. 5️⃣ Forget about getting rich quick That is the iconic fallacy. I believe that around 90% of people who come in this game want to get rich quick, want easy money. And no surprise, when I share a trading setup on TradingView, and it loses I receive dozens of messages that I am a scammer. People truly believe that professional trading implies 100% win rate and quick and easy money. The truth is, traders, that trading is a very tough game. And with a good trading strategy, you have just a little statistical edge that will give you the profits that would slightly overcome your losses. 6️⃣ Train your eyes Professional trading implies pattern recognition: it can be some technical indicators pattern, the price action or candlestick formation, etc. Your main goal as a trader is to learn to identify these patterns. Pattern recognition is a hard skill to acquire. You should spend dozens of hours in front of the screen in order to train your eyes to identify certain patterns. Here is how many patterns you would spot on GBPUSD chart, paying close attention. 7️⃣ Track and analyze your trades Study all the trades that you take, especially the losing ones. Look for mistakes, look for the reasons why a certain setup played out and why a certain one didn't. Journal your trades and make notes. 8️⃣ Don't use technical indicators Newbies believe that technical indicators should do the work for them. They are constantly looking for one or a bunch that will accurately show where the market will go. However, I always say to my mentees that technical indicators make the chart messy and distract. If you just started trading, focus on a naked chart, learn to analyze the market trend, key levels, classic price action patterns. Learn to make accurate predictions relying on a price chart alone. Only then add some technical indicators on your chart. They won't do the work for you, but will help you to slightly increase the accuracy of a certain setup. Above is the classic chart of newbie trader. A lot of indicators and a complete mess The same chart would look much better without technical indicators. 9️⃣ Find a Mentor There are hundreds of trading mentors. Find the one with a trading style that you like. Follow him, learn from his trading experience, listen to his trading recommendations. 9 years ago I found a guy, his name was Jason. I really liked his free teachings, and they were meaningful to me. I decided to purchase his premium coaching program. It was 200$ monthly - a huge amount of money for me at that time. However, with his knowledge I saved a lot, I learned a lot of profitable techniques and tricks that helped me to become a professional forex trader. Of course, this list could be much bigger. The more I think about different subjects in trading, the more important tips come to my mind. However, I believe that the tips above are essential and I truly wish I knew all that before I started. I hope that info will help you in your trading journey! Good luck to you. ❤️Please, support my work with like, thank you!❤️
OANDA:XAUUSDEducation
by VasilyTrader
6
AUDJPY What Next? BUY! My dear subscribers, My technical analysis for AUDJPY is below: The price is coiling around a solid key level - 96.040 Bias - Bullish Technical Indicators: Pivot Points High anticipates a potential price reversal. Super trend shows a clear buy, giving a perfect indicators' convergence. Goal - 96.750 My Stop Loss - 95.688 About Used Indicators: By the very nature of the supertrend indicator, it offers firm support and resistance levels for traders to enter and exit trades. Additionally, it also provides signals for setting stop losses ——————————— WISH YOU ALL LUCK
Long
by AnabelSignals
3
XAUUSD: Analyze gold price trends todayGold prices (XAU/USD) struggled to capitalize on modest intraday gains and retreated to the lower end of the day's trading range during the first half of the European session on Wednesday. The US Dollar (USD) attracted some buying activity and traded above a one-week high reached the previous day amid doubts about the Federal Reserve's ability to cut interest rates soon ( Fed). This is underpinned by a further rise in US Treasury yields, which, in turn, is seen as a key factor acting as a headwind for the non-yielding yellow metal.
OANDA:XAUUSDShort
by NicoTradingMaster
GBP/NZD Short, USD/CAD Short, AUD/USD Long and USD/JPY ShortGBP/NZD Short • If price pushes up to and ideally just above our area of value, then regardless of how it does so I'll be waiting for a subsequent impulse back down followed by a tight flag and then I'll filter the latter on the fifteen minute chart and be looking to get short with either a risk entry within it if the flag is structured, or a reduced risk entry on the break of it if it's unstructured or I don't manage to secure a risk entry. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. USD/CAD Short • If price pushes up to and ideally just above our area of value, then regardless of how it does so I'll be waiting for a subsequent impulse back down followed by a tight flag and then I'll filter the latter on the fifteen minute chart and be looking to get short with either a risk entry within it if the flag is structured, or a reduced risk entry on the break of it if it's unstructured or I don't manage to secure a risk entry. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. AUD/USD Long • If price pushes down to and ideally just below our area of value, then regardless of how it does so I'll be waiting for a subsequent impulse back up followed by a tight flag and then I'll filter the latter on the fifteen minute chart and be looking to get long with either a risk entry within it if the flag is structured, or a reduced risk entry on the break of it if it's unstructured or I don't manage to secure a risk entry. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. USD/JPY Short • If price pushes up to and ideally just above our area of value, then regardless of how it does so I'll be waiting for a subsequent impulse back down followed by a tight flag and then I'll filter the latter on the fifteen minute chart and be looking to get short with either a risk entry within it if the flag is structured, or a reduced risk entry on the break of it if it's unstructured or I don't manage to secure a risk entry. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair.
by StewySongs
It is expected that GBPUSD will increase slightly today and thenLet's talk about the pound and the dollar - they had quite a week! The pound was like a kid on a seesaw, going up and down against the dollar. Sometimes it looked like it was winning, but by the end of the week, it didn't close at the top. There was a holiday break for the markets on December 25, but the GBP/USD pair didn't rest much. There was some action because of the conflict in Gaza. That situation over there? Pretty intense. It's causing a lot of tension worldwide, and sadly, it's taking lives. That kind of stuff affects the currency market too. The US dollar had its own drama. People started thinking the Federal Reserve might drop interest rates, and that made the dollar less appealing. Traders got excited, thinking it could mean smoother sailing for the global economy. But then, things got a bit wobbly for the pound against the dollar. You see, the pound hit a high note at the start of Thursday but quickly lost that vibe and went back to where it started on Wednesday. Why? Well, there's a fear of high prices and a possible economic slump, which got worse because people weren't sure what the Bank of England was planning. Then, last Friday, the pound was all over the place. The news about house prices dropping more than expected probably made things more jumpy. But there were some positive things happening elsewhere that kept the pound from totally crashing. The US dollar? Well, it was a mixed bag. Some folks were willing to take risks, so it faced some challenges at different exchange rates.
Long
by carefulLion07pab
GBP/NZD (Trade), USD/CAD Short, AUD/USD Long and EUR/USD LongUSD/CAD Short • If price pushes up to and ideally just above our area of value, then regardless of how it does so I'll be waiting for a subsequent impulse back down followed by a tight flag and then I'll filter the latter on the fifteen minute chart and be looking to get short with either a risk entry within it if the flag is structured, or a reduced risk entry on the break of it if it's unstructured or I don't manage to secure a risk entry. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. AUD/USD Long • If price impulses up above our most recent correction and a subsequent tight flag forms, then I'll filter the latter on the fifteen minute chart and be looking to get long with either a risk entry within it if the flag is structured, or a reduced risk entry on the break of it if it's unstructured or I don't manage to secure a risk entry. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. EUR/USD Long • If price impulses up above our area of value and a subsequent tight flag forms, then I'll filter the latter on the fifteen minute chart and be looking to get long with either a risk entry within it if the flag is structured, or a reduced risk entry on the break of it if it's unstructured or I don't manage to secure a risk entry. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair.
by StewySongs
EUR/USD Short, GBP/NZD Short, WTICO/USD Short and AUD/USD LongEUR/USD Short • If price corrects and a three touch tight flag forms, then I'll filter it on the fifteen minute chart and be looking to get short with a risk entry within it after either a high test or a retrace candle. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. GBP/NZD Short • If price pushes up to and ideally just above our area of value, then regardless of how it does so I'll be waiting for a subsequent impulse back down followed by a tight flag and then I'll filter the latter on the fifteen minute chart and be looking to get short with either a risk entry within it if the flag is structured, or a reduced risk entry on the break of it if it's unstructured or I don't manage to secure a risk entry. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. WTICO/USD Short • If price corrects and a three touch tight flag forms, then I'll filter it on the fifteen minute chart and be looking to get short with a risk entry within it after either a high test or a retrace candle. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. AUD/USD Long • If price impulses up above our most recent correction on the one hour chart and a subsequent tight flag forms, then I'll filter the latter on the fifteen minute chart and be looking to get long with either a risk entry within it if the flag is structured, or a reduced risk entry on the break of it if it's unstructured or I don't manage to secure a risk entry. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair.
by StewySongs
2
XAUUSD trading plan on January 3, 2024. The market waits for theThe S&P U.S. Global Manufacturing Purchasing Managers' Index (PMI) for December fell below investor expectations on Tuesday, sliding to a four-month low of 47.9 vs. The forecast level is stable at 48.2 from November. Market appetite is distorted by erroneous data and investors are starting to temper expectations for interest rate cuts from the US Federal Reserve (Fed), with average expectations of The market is pricing in about 150 basis points of interest rate cuts through the end of the year. This is in stark contrast to the dot chart of Fed interest rate expectations, which currently shows a maximum rate cut of 75 basis points through 2024. Market sentiment will be buoyant this week as the first 2024 US Nonfarm Payrolls (NFP) print is expected on Friday. December's NFP is expected to show a slight decline in US job additions from 199K to 168K. NFP watchers will have to weather the mid-week crunch, with ISM Manufacturing and the latest Fed Minutes released on Wednesday, followed by ADP Employment Change and Initial Jobless Claims on Thursday in the week ending December 29.
OANDA:XAUUSDShort
by NicoTradingMaster
Technical analysis shows that GOLD is likely to declineGold prices did not fluctuate much last Friday, basically oscillating around 2065, with an amplitude of $16, and finally closed with a Doji Star with long upper and lower shadows. It was a continuous trend from last Thursday. Recently, with the lack of crucial data and speeches, gold prices' volatility has fallen. The Red Sea situation continued to heat up last Saturday, and with the influence of geopolitics, gold prices could be supported. However, with optimistic rate-cut expectations to be adjusted, the overall gold price lacks direction, so it will mainly fluctuate! Looking at the technical chart, the current gold price is still under pressure in the resistance area of 2075-2080, which also indicates that gold prices do not have the momentum to break through that range in the short term. Judging from the 1-hour chart, the MACD golden cross began to widen, so a rebound can be seen at the hourly level. Investors need to watch for resistance near the MA60 around 2073. However, the MACD death cross in the 4-hour chart began to widen. It is estimated that gold has limited room for a rebound during the day. At the same time, the bearish divergence in the daily chart is prominent,so we do not recommend medium-term bullish investors buy gold now. Today, aggressive traders can still buy low and sell high in the range of 2055-2073.
TVC:GOLDShort
by carefulLion07pab
GBP/USD tends to increase when it meets supportThe GBPUSD has been forming an upward structure with higher highs after breaking above a key downtrend line in early November. Although the GBPUSD's uptrend came to a temporary halt at the four-month high level of 1.2826, the completion of the golden cross between the 50- and 200-day SMAs is expected to provide upside momentum. However, during the European session on Tuesday, the GBPUSD fell sharply during the day as the USD rose sharply and formed a death cross downward structure in the 4H timeframe, potentially creating more uncertainty for the GBPUSD in the near term. Now, we believe that as long as Wave 4 of the "upward impulse waves" structure has not been broken, the end of the "upward impulse waves" is still worth looking forward to. Given that the short-term oscillators are continuing to provide cautiously positive signals, the bulls may try to eliminate the latest weakness and overcome the December resistance at the 1.2794 level. A break above this resistance could open the door to a four-month peak at 1.2826. If it fails to stay here, the GBPUSD could move towards the June high of 1.2847 until it reaches the 1.2900 level. On the other hand, if the GBPUSD reverses lower, several previous support levels at 1.2642 and 1.2612 could now become the initial line of defense. A break below that bottom could see the price fall to recent support at 1.2611, or even lower, with upward Wave 4 1.2500 likely to provide a correction. Overall, risks remain cautiously tilted to the upside in the near term, even though the GBPUSD rally appears to be losing its momentum. To change this situation, the price cannot go below a series of key supports or the uptrend will be reversed. It is recommended to buy the dips.
Long
by carefulLion07pab
1
EUR/USD is trending downAs all investors anticipate for the upcoming Non Farm Payroll on Friday, the Dollar gains its strength on the 2nd day of 2024. Trading at 102.10, the US Dollar experienced a significant increase, indicating a noteworthy uptrend in the index. This upward shift can be attributed to market anticipation for guidance and investors turning to the USD as a safe haven in anticipation of key labor market reports scheduled for release later this week. The economic calendar will be packed with news releases starting on Wednesday, at 23:00 (GMT +8), we have the U.S. ISM Manufacturing PMI (Dec) and U.S. JOLTS Job Openings (SA) (Nov). Besides that, there will be a short FOMC Meeting coming up, it is something to look forward to as the Fed has been mentioning that rate cuts is around the corner, we could hear some dovish or hawkish comments coming up that would determine the Dollar direction for this week. EUR/USD was trending up aggressively until it got rejected by a strong resistance level at price 1.11392. It has also broken out of the short term uptrend support zone which indicates EUR/USD could be in a short term downtrend which is why I am interested in looking for shorts for short term. Besides that, one of the reason I am looking for shorts is we have a huge imbalance to be filled . The imbalance will be my take profit target for the shorts.
Short
by carefulLion07pab
Technical analysis shows that XAUUSD is likely to declineGold prices did not fluctuate much last Friday, basically oscillating around 2065, with an amplitude of $16, and finally closed with a Doji Star with long upper and lower shadows. It was a continuous trend from last Thursday. Recently, with the lack of crucial data and speeches, gold prices' volatility has fallen. The Red Sea situation continued to heat up last Saturday, and with the influence of geopolitics, gold prices could be supported. However, with optimistic rate-cut expectations to be adjusted, the overall gold price lacks direction, so it will mainly fluctuate! Looking at the technical chart, the current gold price is still under pressure in the resistance area of 2075-2080, which also indicates that gold prices do not have the momentum to break through that range in the short term. Judging from the 1-hour chart, the MACD golden cross began to widen, so a rebound can be seen at the hourly level. Investors need to watch for resistance near the MA60 around 2073. However, the MACD death cross in the 4-hour chart began to widen. It is estimated that gold has limited room for a rebound during the day. At the same time, the bearish divergence in the daily chart is prominent,so we do not recommend medium-term bullish investors buy gold now. Today, aggressive traders can still buy low and sell high in the range of 2055-2073.
OANDA:XAUUSDShort
by carefulLion07pab
Expected scenario for this weekTVC:DXY English // Ingles We can visualize that we started the day with a great bullish candle on the part of this index, which only indicates that for liquidity or inefficiencies that it left on the way. Our first point which is very close is the Daily OrderBlock, and our final goal is the Weekly imbalance to continue the fall again. -------------------------------------------------- Spanish// Español Podemos visualizar que arrancamos la jornada con una gran vela alcista por parte de este indice, lo cual solo indica que a por liquidez o ineficiencias que dejo en el camino. Nuestro primer punto el cual esta muy cerca es el OrderBlock Diario, y nuestra meta final es el imbalance Semanal para continuar nuevamente con la caida.
TVC:DXY
by TradingFastandEasy
EUR/USD Short and GBP/NZD ShortEUR/USD Short • If price impulses down below our most recent correction on the one hour chart and a subsequent tight flag forms, then I'll filter the latter on the fifteen minute chart and be looking to get short with either a risk entry within it if the flag is structured, or a reduced risk entry on the break of it if it's unstructured or I don't manage to secure a risk entry. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. GBP/NZD Short • If price pushes up to and ideally just above our area of value, then regardless of how it does so I'll be waiting for a subsequent impulse back down followed by a tight flag and then I'll filter the latter on the fifteen minute chart and be looking to get short with either a risk entry within it if the flag is structured, or a reduced risk entry on the break of it if it's unstructured or I don't manage to secure a risk entry. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair.
Short
by StewySongs
1
XAUUSD is likely to fall when it encounters resistanceThere were moderate movements during yesterday's Asian session and gold fluctuated slightly up from $2067. During the US trading session, gold quickly increased in price along with the depreciation of the USD and surpassed the resistance zone, once reaching 2084 USD. Finally, gold closed the daily chart on a positive note to post its fifth consecutive gain, showing a clear bullish trend. This is how trends work. Once it is formed, it will not change anytime soon and you will be taking a big risk if you act against the trend. However, it will depend on your trading cycle. For day trading, both bears and bulls have opportunities, and price and timing will be important. Currently, gold has hit previous resistance at $2070-$2075, which should become significant support for today's trade. If gold fails to fall below that range, it will reach new highs or even reach $2,100. In the 1H chart, a golden cross is expanding and it is away from the overbought zone, indicating more upside space. However, the MACD shows major pullback risks in the 4H and daily charts, and bearish divergence appears to be increasing. Therefore, investors who maintain an optimistic view in the medium term should not follow the current uptrend. Today, the trading range will be from $2070 to $2047, with aggressive investors advised to buy low and sell high.
OANDA:XAUUSDShort
by carefulLion07pab
GBPUSD is trending upSupported by positive market sentiment, GBPUSD rose above 1.2800 on Thursday and settled at the 61.8% Fibonacci retracement level at 1.2740 (from July 14 high of 1.3142). to an October 4 low of 1.2037). The rising 20-day exponential moving average (EMA) is placed at 1.2670, projecting continued upside support for the British pound. The relative strength index (RSI) has risen above 60. The sustained work on these technologies will trigger strengthening, the target gem completing the "upward impulse waves" at 1.3000. On the downside, activity below minor support at 1.2698 could cause trading sentiment to return to neutral. However, if free support at 1.2499 is maintained to prevent a downturn, further recovery phases remain beneficial. From a broader perspective, the action starting from the midpoint at 1.3141 is seen as a corrective pattern from the upside at 1.0351. Move up from 1.2036 is considered the second in progress (of this pattern). The upside is expected to be limited at 1.3141 to form the third component. At the same time, support functioning beyond 1.2499 would indicate the start of the third part of the uptrend. In terms of trading, buying at low prices is the recommended strategy.
Long
by carefulLion07pab
EURUSD is likely to increase when it bottoms againEUR/USD just hit a high, breaking through the 1.1020 and 1.1101 hurdles to reach 1.1121—a five-month high and up 0.72%. But it's the holiday season and the low trading climate can make things unpredictable. It's likely we will see a temporary spike in rates and then a drop below 1.10 as things return to normal. If you're thinking of selling, keep a close eye on any signs of change. Our next challenge? Resistance level 1.125—notice how the market behaves around that level. Once things stabilize and normal trading begins, we will get a clearer picture. We may be correcting back to the broken resistance level and we may have an opportunity to buy EURUSD at a discount targeting the resistance zone.
Long
by carefulLion07pab