Today's gold trading strategyGold pulled up quickly in the European and U.S. sessions after falling from $2049 to $2033 in the Asian session, once reached $2075 and approached the historical high. Many significant positions are accumulated to prepare the new high for this morning. Moreover, stop-loss orders were removed in the morning session and gold once ascended to $2145 by over $70. Although it is unreasonable, the market should be respected, and gold retraced by $60 immediately. Regarding the trend, gold should keep the bullish trend, and the previous high of $2081 will be turned from resistance to support. Despite a serious bearish divergence in the daily chart and the weekly chart, the top and bottom are still to be decided until the unilateral trend is broken. At present, after falling from highs, the wash trading is enough, and investors should not chase the upward trend even if they keep a bullish view. Additionally, gold may oscillate at highs or even consolidate with a retracement at the beginning of this week, and the essential factor to be considered is the Nonfarm Payrolls. According to the 1H chart, MACD forms a death cross at the overbought area, and there will be retracements today. Meanwhile, the initial support below will be in the range from $2070 to $2080, when further strong support will be at $2050. For trading recommendations, the effective range will start from $2050 to $2100, in which investors could buy low and sell high, and control the stop loss.
TVC:GOLD BUY XAUUSD 2012-2010
✔️TP1 2020
✔️TP2 2025
❌SL 2005
Trading-forex
Pre USA Setups I'm Looking at for Intraday Momentum ScalpsHey traders, a preview for how to apply my simple momentum scalping strategy to the USA session today.
As always, these are the main steps:
Identify an intraday directional bias
Identify the key levels
Identify trade entry triggers
Manage the trade with attention to "Actual Risk"
NJ,trend still pushing for more upside?Hello fellow traders , my regular and new friends!
Welcome and thanks for dropping by my post.
NJ on the higher timeframe of D1 and H4 still bullish to me. Decent pullback should be buying and good for swing long up.
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NZDJPY Massive Long! BUY!
My dear friends,
Please, find my technical outlook for NZDJPY below:
The price is coiling around a solid key level - 90.744
Bias - Bullish
Technical Indicators: Pivot Points High anticipates a potential price reversal.
Super trend shows a clear buy, giving a perfect indicators' convergence.
Goal - 91.045
About Used Indicators:
The pivot point itself is simply the average of the high, low and closing prices from the previous trading day.
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WISH YOU ALL LUCK
AUD/CAD Long, EUR/USD Long, NZD/USD Long and GBP/USD LongAUD/CAD Long
• If price corrects and a tight flag forms, then I'll be looking to get long 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.
EUR/USD Long
• If price corrects and a tight flag forms, then I'll be looking to get long with either a reduced risk entry on the break of the flag or 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.
NZD/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 convincing impulse back up followed by a tight flag and then I'll be looking to get long with either a reduced risk entry on the break of the flag or 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/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 convincing impulse back up followed by a tight flag and then I'll be looking to get long with either a reduced risk entry on the break of the flag or 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.
GBPUSD is trending downGBP/USD has risen sharply over the past three weeks, logging solid gains that have coincided with a shift in favor of riskier currencies at the expense of the broader U.S. dollar. After recent price developments, cable is flirting with overhead resistance at 1.2720, defined by the 61.8% Fib retracement of the July/October selloff. If the bulls manage to clear this ceiling, a rally potentially exceeding 1.2800 might unfold.
Conversely, if bullish impetus fades and sellers start to regain the upper hand, we may see a retrenchment towards 1.2590. GBP/USD could stabilize around this technical floor on a pullback before resuming its advance, but a break below the region could intensify bearish pressure, opening the door for a decline towards trendline support and the 200-day moving average slightly above 1.2460.
According to technical analysis, gold will increaseGold jumped more than 3% to above $2,100 early on Monday before paring those gains, hitting fresh all-time highs amid growing expectations that the US Federal Reserve will hold interest rates steady at this month’s meeting and could start cutting rates next year.
Traders also doubled down on those bets despite Fed Chair Jerome Powell’s pushback against rate-cut expectations, saying it’s “premature” to anticipate policy easing.
Markets now see a 60% chance that the US central bank could reduce its policy rate in March next year and are fully pricing in a cut in May.
On the data front, the US ISM Manufacturing PMI came in below estimates in November, pointing to the 13th consecutive contraction in the factory activity and supporting the softer rate outlook.
Additionally, the latest US PCE inflation reading indicated a slowdown in prices, while continuing jobless claims reached a two-year high.
OANDA:XAUUSD BUY XAUUSD 2080-2078-2075
✔️TP1 2085
✔️TP2 2090
❌SL 2070
NATGAS Expected Growth! BUY!
My dear friends,
Please, find my technical outlook for NATGAS below:
The instrument tests an important psychological level 2.777
Bias -Bullish
Technical Indicators: Supper Trend gives a precise Bullish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 2.866
Recommended Stop Loss - 2.727
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
Usdsgd still bearish bias Hello fellow traders , my regular and new friends!
Welcome and thanks for dropping by my post.
Last week, i mentioned about USDSGD having to make more downwards movement (in my tradingview stream), this coming week i believe it would be the same considering the break of the support and currently just tested and seems rejecting it.
Let's see how it unfolds next week.
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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.
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GbpCad hold or not to hold?Hello fellow traders , my regular and new friends!
Welcome and thanks for dropping by my post.
GbpCad at a key turning point ,to see more downside or continue its uptrend if it hold 1.71 band..let's watch and act accordingly.
Do Like and Boost if you have learnt something and enjoyed the content, thank you!
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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.
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EURUSD Will Collapse! SELL!
My dear subscribers,
My technical analysis for EURUSD is below:
The price is coiling around a solid key level - 1.0948
Bias - Bearish
Technical Indicators: Pivot Points Low anticipates a potential price reversal.
Super trend shows a clear sell, giving a perfect indicators' convergence.
Goal - 1.0915
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
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WISH YOU ALL LUCK
NZDCAD Buyers In Panic! SELL!
My dear followers,
I analysed this chart on NZDCAD and concluded the following:
The market is trading on 0.8347 pivot level.
Bias - Bearish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation.
Target - 0.8282
Safe Stop Loss - 0.8384
About Used Indicators:
A super-trend indicator is plotted on either above or below the closing price to signal a buy or sell. The indicator changes color, based on whether or not you should be buying. If the super-trend indicator moves below the closing price, the indicator turns green, and it signals an entry point or points to buy.
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WISH YOU ALL LUCK
EUR/USD LongEUR/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 convincing impulse back up followed by a tight flag and then I'll be looking to get long with either a reduced risk entry on the break of the flag or 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.
Today's gold trading strategyThe $2,000 level below current prices represents an important support zone that could serve as a strong "bottom" for the market.
However, be aware that reaching this level may not be easy.The release of the Core PCE Price Index, expected on Thursday, could cause significant movements in the market.Index This is the Federal Reserve's preferred indicator and could lead to profit taking in the gold market given the recent explosive rally in the gold market. Recently, we have been faced with statements quickly from the Federal Reserve, further exacerbating an already volatile market environment.
The Fed has developed a knack for fumbling with the ball and is often slow to adjust monetary policy. A recession may be on the horizon and it remains to be seen how long it will take the Fed to change its stance. As it stands Now, the simplest interpretation of this chart suggests that we have entered “too far, too fast” territory. Value has to be achieved somehow.
After all, the recent development of the gold price is characterized by a rapid increase and significant resistance levels. Although indicators point to the possibility of a decline in prices, I do not recommend selling at this time.The The interaction between the US dollar and gold remains an important trend to watch and the $2,000 level could act as a strong support zone. However, the release of the core PCE price index is upcoming. The associated level of uncertainty and indecision from the Fed is adding to the turmoil in the markets. Given the recent acceleration, the prevailing view is that a correction may be imminent. However , gold still looks bullish in the long term.
Gold on the H4 stochastic frame is falling very strongly but gold is going up, RSI has left the overbought area and so has the stochastic, the histogram is also falling. On the H1 frame, stochastic is going up. On the D1 frame, stochastic is still in the overbought area, the histogram is growing high again, RSI is still in the overbought area, so our trading strategy today will be:
TVC:GOLD XAUUSD SELL LIMIT 2044 - 2046
✔️TP1: 2039
✔️TP2: 2034
🚫SL: 2053
AUDUSD Technical Analysis! SELL!
My dear friends,
AUDUSD looks like it will make a good move, and here are the details:
The market is trading on 0.6628 pivot level.
Bias - Bearish
Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market.
Goal - 0.6548
Recommended Stop Loss - 0.6659
About Used Indicators:
Pivot points are a great way to identify areas of support and resistance, but they work best when combined with other kinds of technical analysis
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WISH YOU ALL LUCK
Eurgbp, more downside to come,*Fire in the Hole*!
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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.
The author/producer of these content shall not and will not be responsible for any form of financial/physical/assets losses incurred from trades executed from the derived conclusion of the individual from these content shared.
Thank you, and please do your due diligence before any putting on any trades!
EURUSD is likely to fall to the bottom of the rising price channThe euro fell 0.17% versus the dollar to $1.0973 EURUSD, pressured by inflation data from Germany showing price growth slowed to 2.3% year-on-year in November from 3% in October. Inflation in Spain also slowed sharply.
The euro zone-wide inflation figure is due out on Thursday, before the Fed's preferred measure of U.S. inflation, the personal consumption expenditures index, or PCE, is released.
The market's fixation on inflation will likely shift to labor data as the degree of the economic slowdown takes precedence over the pace of decelerating prices, Upadhyaya said.
"Now the labor market is going be the big focus because it's the statistic that could lead to a Fed pivot from a pause to a cut," he said.
Today's gold trading strategyGold edges higher in the early morning Asian session, underpinned by prospects of Fed rate cuts next year, which would increase the appeal of the non-interest-bearing precious metal. Treasury yields have stayed under pressure following Fed governor Waller's comments earlier this week that monetary policy is well-positioned to return inflation to a 2% target, ANZ Research analysts say in a report. A JPMorgan Chase survey shows investors are increasingly positioning for a hard economic landing and aggressive Fed policy easing next year, the analysts note. Spot gold is 0.1% higher at $2,045.45/oz.
XAUUSD SELL 2048 - 2051
🟢TP1: 2042
🟢TP2: 2038
🔴SL: 2053
XAUUSD BUY 2027 - 2025
🟢TP1: 2032
🟢TP2: 2037
🔴SL: 2020
USOIL What Next? BUY!
My dear subscribers,
This is my opinion on the USOIL next move:
The instrument tests an important psychological level 75.13
Bias - Bullish
Technical Indicators: Supper Trend gives a precise signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 76.80
About Used Indicators:
On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment.
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WISH YOU ALL LUCK
GBPUSD has a downward trendGBP/USD has been on a bullish tear in November, rising nearly 4.5% since the beginning of the month. After Tuesday's gains, the pair has reached its best level since late August, but has been unable to reclaim the 61.8% Fibonacci retracement of the July/October slump (1.2720). If this ceiling holds, the upside momentum could run out of steam, paving the way for a drop towards 1.2590, followed by 1.2460.
In the event of a clear break above 1.2720, sentiment on sterling is likely to improve, unleashing animal spirits that could propel a potential upward move towards 1.2850. On further strength, buying interest could accelerate, opening the door to a climb toward the 1.3000 handle. Although the bullish case for GBP/USD is strong, it is important to exercise caution as the pair is about to enter overbought territory
AUD/CAD LongAUD/CAD Short
• 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 convincing impulse back up followed by a tight flag and then I'll be looking to get long with either a reduced risk entry on the break of the flag or 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.
Gold is likely to decrease slightly then increaseGold rose toward $2,050 an ounce on Wednesday, hitting its highest levels in nearly seven months and benefitting mainly from a sharp decline in the dollar amid dovish remarks from US Federal Reserve officials.
Fed Governor Christopher Waller said that current monetary settings are restrictive enough, and flagged a possible rate cut in the coming months.
Chicago Fed President Austan Goolsbee also noted significant progress on inflation.
Markets now see a 40% chance the Fed could start easing as early as March 2024.
Elsewhere, Australia’s monthly inflation gauge slowed more than expected in October as goods prices eased.
Meanwhile, New Zealand’s central bank kept the cash rate unchanged, but warned that another hike may be necessary if inflation persists.
Yesterday on the golden day chart, an engulfing candle was created and RSI was in the overbought zone, stochastic was also in the overbought zone, so today we only scalped about 30-40 pips
TVC:GOLD XAUUSD SELL 2048 - 2050
🟢TP1: 2044
🟢TP2: 2040
🔴SL: 2053
NZDCHF Set To Fall! SELL!
My dear friends,
Please, find my technical outlook for NZDCHF below:
The instrument tests an important psychological level 0.5368
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 - 0.5346
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