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Tradingrange

Is GBPAUD now in a larger range? On the Daily chart (right panel) you can see the wedge GBPAUD has been respecting until Tuesday when a large sell of caused it to close outside. After a flush down on AUD news Wednesday, it saw strong buying pressure which looks to be resuming today after a drop early London. I'm now starting to look at the 30m range from 1.9060 to 1.9320 as the way to play this. There is a decent way to go before we get to the top of the range, but it could manage it tomorrow given the 21 day ExMo is 140. At which point I may look to buy a Put for next week, and trade the intra-day price action on Monday as a way to gain exposure to potential downside without having to hold the over night risk on a tradition position. Overall well worth watching as the Aussie pairs have been moving nicely in recent weeks and we want to capitalise on that while we can.
Short
by RuckSack
IBM: A Risky Earnings TradeNYSE:IBM Reports after the market closes today. It is probably at or near its fundamental levels even if the report is weak. The chart shows a strong support level as the stock price is at the neck of the bottom completion level. IBM is in a long term trading range when viewed on a long term trend. The problem is a weak CEO who has failed at reinvention and a stock that is pricey for its growth potential. However, it has more upside potential than downside. It would take a really negative report to create a strong run down. That is not likely. PSHI is very low so less savvy investors own almost half the outstanding shares. This means trading the earnings report is riskier.
NYSE:IBM
by MarthaStokesCMT-TechniTrader
Think Before You Short: AMZN EarningsTraders need to check weekly charts when considering selling short stocks at this time. Many times there are strong support levels close to the current sold down price action. The weekly charts also provide more data for day and swing traders to determine the all important RUN GAIN POTENTIAL. This must be calculated before any trade to determine the Risk versus Profit Potential for that trade, regardless of whether the hold time is a few minutes or several days for swing trading. For many stocks, the recent selling down is not due to weaker earnings expectations but due to an overall reaction to retail news regarding international conflicts, US government uncertainties and regional wars. The key element for trading stocks short-term is to understand where support will kick in and halt a sell short trade. Understanding the functionality and the strength or weakness of a support level is crucial to attaining a high-profit trade. It is also a factor if you are waiting on the Dark Pool Buy Zone levels for getting into the stock for a run up from support levels. Below is a chart of AMZN, which reports earnings on Thursday this week after the market close. It shows that support is strong near the current price level. This indicates that the Dark Pool Buy Zone is within that technical price range. Selling short is inherently higher risk as the support level is a long-term trend strong support. Why is it so strong? 1. There is a several-week price range that held the stock up. 2. Highs are a support mechanism when the stock market is not in a long-term downtrend. ALL traders should know that this is not a bear market. Indexes are in a Trading Range. 3. The length of the candles is significant and relevant to the strength of the support.
NASDAQ:AMZN
by MarthaStokesCMT-TechniTrader
EURJPY Comment downGeopolitical influences do not play a role in sustainably subsidizing the Yen. Yesterday the USD/JPY exchange rate once again approached the observation level of 150; Specifically, it reached 149.74, then decreased slightly back to 149.56. The Yen has recently been fluctuating around the observation threshold, currency investors in the market are still observing the actions of the Japanese Government. While many investors are still observing the market, many others determine that the Japanese Yen is in its 'weakest' stage and is 'bottom-fishing' for the Yen.
Short
by Chart_MasterPro
Buyback Patterns: GSAs the #3 most heavily weighted stock for the TVC:DJI , NYSE:GS was one of the drivers behind the run down this week. In February, a buyback program of 30 billion was approved. Buybacks probably commenced in March and have been boosting the price up within the trading range until recently. It may be that the buyback money has been depleted. Goldman Sachs reports Oct 17. Revenues declined last quarter. Earnings are up and down. So probably not a great earnings report for Q3. However, the stock has support at the black line, so it doesn't have huge downside potential.
NYSE:GS
by MarthaStokesCMT-TechniTrader
THE KOG REPORTKOG Report: In last week’s KOG Report, we said we has a range in mind for the week’s sessions prior to FOMC being the 1915-13 region support and the resistance level of 1930-35. We said we would be looking at these levels to either long, or short the market pre-event, before which we wanted to be out of trades ready for the release. We then released the FOMC KOG Report and gave a bearish bias with the levels above we would be looking to short the market from, and the arrows showing the path into the target regions we were looking for. The market gave the short level 1930-35 early part of the week but only handing out a 60pip move into immediate support before then starting the range. FOMC, however, gave a better result with the price hitting just below the first target level 1920 before a bounce. All in all, a good week in Camelot, not only on gold trades but US30, Oil and NAS to name only a few all giving phenomenal returns to traders. So, what can we expect in the week ahead? This structure is looking like it’s coiling now and ready for a breakout so, approaching the end of the month we would suggest caution on the markets with your lot sizes and will stress, please make sure you have a sensible risk model in place. Looking at Gold, we have immediate support levels 1921 and below that 1918 with extension into 1913-10. These levels need to be defended, and if strong support is found here could represent opportunities to long the market back up into the 1930-35 and above that 1940-45 as illustrated on the chart. Those higher resistance levels with extension into 1955-60 which are the levels to watch. Based on confirmed resistance and a setup arising, these levels could represent opportunities to then short the market back down again. This week, it’s going to be one of those scenarios again, ranging, and choppy price action, liquidity grabs being likely from lower and higher. It’s simply the case, of managing your risk and testing the levels. We’ll be relying on our red box scalping strategy as well as Excalibur to guide us through choppy waters, so please look out for the daily updates, the bias for intra-day trades and the target levels posted. Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
14
Eur Usd + Dollar IndexAbsolutely, My dear Global Chart Surfers! 🌟 Today, the dollar received some positive news with the ADP Non-Farm Employment Change numbers. However, Dollar Index Moved Higher cus that we smoothly navigated with EURUSD through the deep dive into the demand zone. Though we encountered lower confluences that resulted in a stop-out, it's all part of the trading journey. Remember, taking partial profits is a wise move, so losses don't pile up like sand in the wind. At Global Chart Surfers, we approach losses with equal respect, understanding that they are an integral part of this industry. Now, we gracefully keep our eyes fixed on the enchanting candlesticks, as they dance on the charts, revealing their secrets and printing valuable data for us. We shall diligently seek probabilities and opportunities, allowing the market's wisdom to guide us through its waves. So, for now, let's peacefully observe the ever-changing tides of the market and cherish the experience it bestows upon us. Until next time, my dear friends, may the trading journey be filled with elegance and prosperity! 🕊️✨🌊
Long
by themarketknight
ASXA new day .. new analysis .. right? Today we look at ASX, which is in the Australian market index. Price was moving inside his trading range, but recently, there has been a strong candle in the downward movement. Look how easily the price is coming down but going up takes some time. Now the price broke the support, but we are in the sold area in RSI .. so the price has to come up and acquire more liquidity and then continue going down. Here is what we can expect. PS - price choose the second scenario, and now we are waiting for the signal to enter sell positions ..leave your thoughts and comments and let's see your opinion.
EIGHTCAP:ASX200Short
by Cryptosours
BTC : ON IMPORTANT MOMENT FOR BREAKOUT VOLUME $32800 - 38KBTC seems on a very interesting point, and as the volume plays between the uptrend of 31K and the dip trend of $30K, can this signal that there is an interesting volume that wants to affect the BTC price? We still expect that BTC can enter a new breakout to $32800 where the price can increase further to 38K, this is more on the technical view of the BTC price action. The last breakdown can be a dipping trend for a new breakout. Every huge breakout did start with a breakdown. There can be more time to play with the price action before a breakout could happen. It's not so easy that we could follow the price up and up.. there should be always volume out to get new LIQ in price. 2 important uptrend targets we checkout $32800 $38K For the bull trend target we check $47K
Long
by Goldenbreakout
2
ETH Hidden Buyers , Short Squeeze Potential Targeting $2k -$2400Analysis Note: This analysis will be continuously updated until the target or failure occurs, so please check back regularly for trade updates. At the end of the analysis, there will be a free trade signal to follow. If you found this post helpful, don't forget to hit the boost and follow buttons. ETH Chart Analysis: According to MT Pandora's Box, ETH is expected to reach the range of 1850 to 1864 from its current range of 1724. The reason behind this projection is that the price is still trapped within a larger range on a higher timeframe. It's important to understand that most breakouts, like attempts to end a trading range and establish a new trend, tend to fail. MT Pandora's Box indicates that buyers are currently accumulating and planning for another upward movement, which could lead to a short squeeze and potentially push the price to the range of 2200 to 2400. Although our initial prediction for a significant drop in ETH was $800, *click to read* we realized after our short from 2k that there is a possibility of a bounce at the current support level, with a chance of up to 65%. Market makers who plan to short will likely first buy at this level and then drive the price slightly above the previous high. The duration of this situation and capital accumulation will determine whether this lasts until November or December 2023. However, we believe the best opportunity to short Big on ETH to below 1k will be by then, In the short term, we anticipate a bounce at the current support level, but we remain bearish overall. I am personally buying some ETH here to take advantage of the unseen hidden buyers' pull-ups, and then I plan to switch to a short position at 2400. It's important to remember that price is still range-bound, so rejections and failures are common in such situations. Here are some key resistance levels to consider, as they could lead to significant reactions from sellers: Resistance Area 1 (Bear Barrack): 1850 to 1865 Resistance Area 2 (Bear Barrack): 1930 to 1950 Resistance Area 3 (Bear Barrack): 2000 to 2140 (most stubborn) Since failures are likely when the price is stuck in a range, we will regularly update this post to keep you informed about the next actions as the price unfolds and the buyers' reaction to these resistance areas, whether the upward movement will continue or fail. Market makers move in mysterious ways, so it's important to note that the chances of ETH dropping instead to a much stronger support at 1620 is still not completely gone and still stand at 35% and should not be totally ignored as this will be a simple Bull hunt to gather liquidity to hunt Bears this is why we recommend buying in pieces CRYPTOCAP:ETH Bulls Vs. Bears Battle Signal Updates: #ETH LONG FREE TRADE SIGNAL ASSET: $ETH/USDT ACTION: LONG 1st ENTRY PRICE: $1730, $1738, $1744 STOP LOSS: 1610(much risky but tighter stop loss but can easily get hunted is 1710) 1st TAKE PROFIT: $1850, 1865, 1945 (Extended TP: 2k, 2200-2400) Disclaimer: This signal is provided for informational purposes only and does not constitute financial advice. Cryptocurrency trading carries risks, and past performance is not indicative of future results. The user assumes full responsibility for any profits or losses incurred, and the signal provider is not liable for any investment decisions made based on this signal.
Long
by MachiavelliTrader