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GBPUSD Is Very Bearish! Short! Please, check our technical outlook for GBPUSD. Time Frame: 3h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is on a crucial zone of supply 1.304. The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 1.298 level. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
1
Xauusd price is likely to be $3,000World gold prices increased in the context of the USD index falling. Recorded at 9:20 a.m. on October 21, the US Dollar Index measuring the fluctuation of the greenback with 6 major currencies was at 103,749 points (down 0.08%). Over the past year, gold bars - a commodity considered a hedge against political and economic instability - have increased more than 31%, breaking many records. The US Federal Reserve's (FED) interest rate cuts combined with safe haven demand have created a perfect storm for gold. According to senior market strategist Daniel Pavilonis of RJO Futures, developments ahead of the US election and geopolitical developments in the Middle East are supporting precious metals. President of Phoenix Futures and Options - forecasts that interest rates will decrease and gold is ready to conquer new milestones. He believes that gold prices will reach $3,000/ounce in the first quarter of next year. In the coming time, gold prices will still be affected by the FED's interest rate management. According to CME's FedWatch tool, US inflation has been contained, the market is expecting a 92.2% chance that the FED will cut 25 basis points and a 7.8% chance of keeping current interest rates unchanged. meeting on November 7. 💎 XAUUSD sell 2734 - 2738💎 ✔️TP1: 2730 ✔️TP2: 2720 ✔️TP3: OPEN 🚫SL: 2744
OANDA:XAUUSDShort
by TheLeader_WOLF
Expectations for Further Gains Amid Lower Interest RatesGold prices are currently in an uptrend and have broken through the $2,730 resistance level, heading higher. The technical chart shows that the price is continuing to maintain its upward momentum within the price channel, with the 34-day EMA and 89-day EMA supporting below. However, after hitting $2,740/ounce, the price has corrected to $2,720 due to a stronger USD and profit-taking. News from China about the PBoC cutting interest rates is an important factor driving the gold market. Meanwhile, the Fed is expected to cut interest rates in November, creating expectations that gold prices will continue to rise in the long term, although there may still be short-term corrections when major central banks cut interest rates.
OANDA:XAUUSD
by Naoomi
PayPal (PYPL): Elliott Wave update - final target in sightSince our entry in PayPal, the stock has performed exceptionally well, respecting the Elliott wave structure and currently providing us with a return of over 35%. This price action demonstrates how effectively PayPal follows the Elliott wave count, reinforcing our bullish outlook. We have now set our stop loss at break even, allowing us to safeguard our gains while continuing to benefit from potential upward movement. During the recent wave (4), we chose not to enter, but it's important to note that the price respected the 38.2% Fibonacci retracement level precisely, indicating a strong likelihood that similar levels will be respected in future corrections. PayPal is currently advancing through wave (5), and we anticipate this wave to conclude soon. Our target for the larger wave (iii) stands at $81, with wave (5) potentially reaching up to $84. However, there is a possibility that wave (5) may conclude before reaching the wave (iii) target. Therefore, we will closely monitor the situation, keeping our alerts ready to react as needed. Once PayPal moves into the $81 target area, we will look to secure additional profits. Should the price action align with our projections, we will consider re-entering at wave (iv) for further opportunities. Until then, we let our position continue running.
NASDAQ:PYPLLong
by freeguy_by_wmc
TRIANGLE PATTERNS 101The triangle pattern is one of the most common yet least reliable formations in trading. It occurs during periods of price consolidation or reversals, representing a narrowing trading range defined by two converging trend lines. For a trendline to be established, at least two touches are required. Consequently, a complete triangle typically consists of a minimum of four touches—two for each trendline. However, in practice, triangles tend to be more reliable when there are three or more touches on each line. In essence, the greater the number of touches, the stronger the lines become. The more frequently the price interacts with these lines, the higher the likelihood that they will serve as significant support and resistance zones, thereby resulting in a more powerful breakout. There are two main types of triangles: symmetrical and ascending/descending. Let's explore both of these patterns in more detail. 📍 Symmetrical Triangles A symmetrical triangle is formed by two or more trends combined with price movements, characterized by each successive high being lower and each low being higher than the previous ones. Unlike an extension, where trend lines diverge, the lines connecting the peaks and troughs in a symmetrical triangle converge. These triangular patterns are often referred to as “springs” because, as they develop, price fluctuations tend to calm down and trading volumes decrease. When the triangle is finally broken, the price can shoot out sharply—much like a tightly compressed spring releasing its tension. This breakdown occurs as the price breaks through the triangle with increased momentum. The essence of the symmetrical triangle lies in its ability to balance the interests of buyers and sellers during its formation. When a breakout occurs, trading volume typically surges, signaling that one side has gained the upper hand in terms of price direction. While most patterns provide fairly clear indicators of potential breakout directions, the symmetrical triangle encourages a bit of speculation. The prevailing trend remains dominant until it is definitively proven otherwise, leading to the assumption that the breakout will likely align with the main trend. Hints of a reversal — a breakout in the opposite direction might emerge if the price moves too far in either direction. Additionally, it's prudent to observe other assets; if they are breaking in a new direction, it could signal a potential shift. Generally, a reversal is more probable if the symmetrical triangle forms after a strong trend and remains intact for an extended period. However, in the absence of these signs, the default assumption should be that the primary trend will continue. 📍 The Psychology Behind Triangles in Trading A triangle formation in trading represents an escalating battle between buyers and sellers. It begins with a strong price movement on the left side of the pattern, reflecting volatility and uncertainty in both camps. As the price climbs to the apex of the triangle, buyers initially lose their enthusiasm while sellers start to take action. Subsequently, the price retracts, attracting those who missed out on the earlier surge and are determined to capitalize on this opportunity. At this juncture, sellers grow weary, and the price begins to rise again, though not as dramatically. This moderate increase confuses buyers once more. Potential sellers, who may have regretted their missed opportunity to sell at higher prices, begin to set aside their greed and are willing to sell at lower levels. Ultimately, the price falls once again, bringing in new buyers. However, with each cycle, the number of participants dwindles, leading to increasingly subdued price reactions. The initial excitement fades, and market participants become more cautious, waiting for stability and a normal balance to be established. As the triangle progresses, the boundaries between buyers and sellers draw closer, as neither side can assert its dominance. Typically, when the price stalls at the top of the triangle, even a slight imbalance in supply and demand can trigger a significant price movement. In summary: The more touchpoints there are within a triangle, the more substantial the price movement is likely to be after a breakout. A strong indicator of breakout strength is the contrast between decreased volume during the triangle's compression and a sudden surge in volume upon breakout. The greater this difference, the more decisive the outcome and the stronger the trading signal. 📍 Identify The Price Target For The Triangle Breakout To identify where the price might move after a triangle breakout, there is a traditional method you can use. First, draw a line parallel to the upper trendline, starting from the base of the triangle. This reference line will help identify the target zone the price is expected to reach, providing insight into potential future movements. When analyzing a symmetrical triangle, the same approach applies. You can also apply this method at the lower trend line of the formation. This technique is versatile and can be useful in various consolidation patterns as well. In the second example, you would measure the distance between the peak of the triangle and the subsequent low. This distance can then be projected from the breakout point to estimate the price's likely direction and target. By using these methods, we can gain a clearer understanding of potential price movements following a triangle breakout. 📍 Turning a Symmetrical Triangle into a Head and Shoulders Pattern Triangles, particularly symmetrical triangles, are often viewed as less reliable price patterns in technical analysis. This is primarily due to their tendency to evolve into different formations entirely, making them challenging to interpret. For instance, what starts as a symmetrical triangle can eventually transform into a head and shoulders pattern, which may lead to a misleading breakout that doesn’t accurately predict subsequent price movements. In a scenario where a triangle breakout appears promising, the price may undergo another movement that creates the contours of a sloping head and shoulders pattern. This transformation represents a significant shift in market sentiment and can lead to false expectations regarding future price behavior. Therefore, traders must be cautious and aware of this possibility, as it highlights the unpredictable nature of triangle patterns. To mitigate the risk of being caught off guard by such deceptive formations, it's beneficial to apply a filtering technique. Focus on patterns where the price has interacted with the trendlines—either support or resistance—two or more times. More touches or approaches reinforce the validity of the trendlines, lending them greater significance as points of support or resistance. Consequently, when a breakout occurs from a well-established triangle, it is more likely to be strong and reliable. 📍 Ascending and Descending Triangles A symmetrical triangle alone does not indicate the direction of a potential breakout, whereas an ascending or descending triangle does, due to the presence of sloping support and resistance lines. As is the case with most patterns, a breakout from a triangle is typically followed by a pullback. If you missed the initial breakout, this pullback often presents a second opportunity to enter the trade, usually under calmer market conditions. If a pullback trendline can be identified, it enhances the breakout line as a favorable entry zone, reinforcing the validity of the breakout that has already occurred. 📍 Transforming Ascending and Descending Triangles into Rectangles One challenge with these patterns is that many rectangles can initially appear similar to ascending and descending triangles. Consequently, it's important to exercise caution when analyzing these formations. 📍 When Ascending and Descending Triangles Fail We’ve already observed that ascending and descending triangles can sometimes evolve into rectangles. Typically, there are two scenarios where this failure can occur. The first scenario arises when the price breaks above the horizontal trendline, only to subsequently return and fall back through it. In the case of a false upward breakout, a closely situated false peak forms, allowing us to place a tight stop just below the trendline. The second situation occurs when a descending triangle fails due to the breaking of the rising or falling trendline before the horizontal trendline is broken. Traders, If you liked this educational post🎓, give it a boost 🚀 and drop a comment 📣
Education
by Lingrid
1
EURUSD A Fall Expected! SELL! My dear followers, This is my opinion on the EURUSD next move: The asset is approaching an important pivot point 1.0865 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 - 1.0846 About Used Indicators: For more efficient signals, super-trend is used in combination with other indicators like Pivot Points. ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
1
EURGBP Expected Growth! BUY! My dear subscribers, EURGBP looks like it will make a good move, and here are the details: The market is trading on 0.8334 pivot level. Bias - Bullish My Stop Loss - 0.8324 Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation. Target - 0.8355 About Used Indicators: The average true range (ATR) plays an important role in 'Supertrend' as the indicator uses ATR to calculate its value. The ATR indicator signals the degree of price volatility. ——————————— WISH YOU ALL LUCK
Long
by AnabelSignals
1
GOLD Massive Short! SELL! My dear followers, This is my opinion on the GOLD next move: The asset is approaching an important pivot point 2720.0 Bias - Bearish Safe Stop Loss - 2738.8 Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market. Goal - 2688.3 About Used Indicators: For more efficient signals, super-trend is used in combination with other indicators like Pivot Points. ——————————— WISH YOU ALL LUCK
OANDA:XAUUSDShort
by AnabelSignals
1
EURCHF On The Rise! BUY! My dear friends, Please, find my technical outlook for EURCHF below: The price is coiling around a solid key level - 0.9373 Bias - Bullish Technical Indicators: Pivot Points Low anticipates a potential price reversal. Super trend shows a clear buy, giving a perfect indicators' convergence. Goal - 0.9390 About Used Indicators: The pivot point itself is simply the average of the high, low and closing prices from the previous trading day. ——————————— WISH YOU ALL LUCK
Long
by AnabelSignals
1
GBPUSD Trading Opportunity! BUY! My dear friends, My technical analysis for GBPUSD is below: The market is trading on 1.3000 pivot level. Bias - Bullish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation. Target - 1.3029 About Used Indicators: A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames. ——————————— WISH YOU ALL LUCK
Long
by AnabelSignals
1