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Technical Analysis and Trading Plan for Velas (VLX) Technical Analysis Velas (VLX) is currently in a descending channel. This pattern suggests a bearish trend in the short term, but there is potential for a bullish reversal if certain conditions are met. Descending Channel: The price is moving within a downward sloping channel, characterized by lower highs and lower lows. This pattern indicates ongoing selling pressure. Bullish Divergence: The VMC Cipher B indicator shows a series of bullish divergences, where the price is making lower lows, but the indicator is making higher lows. This often precedes a trend reversal. RSI and Stochastic Oscillator: Both the RSI and the Stochastic Oscillator are in oversold territory, suggesting that the selling pressure may be exhausted and a rebound could be imminent. Moreover, the Solana-Velas bridge is part of a broader initiative to improve cross-chain interoperability. This will allow assets to move freely between the two ecosystems, enhancing liquidity and usability across platforms​. Trading Plan for Spot Trading Given the technical indicators and recent news, here is a potential trading plan for Velas (VLX): Entry Point: Look for a breakout above the upper boundary of the descending channel with a confirmed bullish divergence. An ideal entry would be around $0.0098 - $0.0100, once the price shows signs of stabilization and reversal. Take Profit: Target the next significant resistance levels. A reasonable first target would be around $0.0120, with a secondary target at $0.0150 if the bullish momentum continues. Monitoring News Keep an eye on updates regarding the Solana-Velas bridge deployment. Positive developments or official announcements about the bridge going live could serve as strong catalysts for upward price movement. Regularly check news outlets and the official Velas and Solana channels for the latest information. By following this technical analysis and trading plan, you can strategically position yourself to capitalize on potential bullish movements in Velas while managing your risks effectively.
CRYPTO:VLXUSDLong
by elfabiiani
GOLD(06/20) Short-term uptrend has appearedThe US Dollar (USD) has paused its decline, supported by a risk-averse market environment and a slight increase in US Treasury yields. People's Bank of China (PBOC) keeps Interest unchanged prime lending rate, raising concerns about the lack of policy support to promote economic growth. Markets are also nervous, awaiting more clarity on the state of the US economy from Thursday's Weekly Jobless Claims and Friday's preliminary business PMI report, which should help traders. Trading evaluates the timing of interest rate cuts by the US Federal Reserve (Fed) in the second half of this year. If US Housing and Jobless Claims data disappoint and add to renewed dovish bets by the Fed, boosted by weaker-than-expected US Retail Sales data, the Dollar The US dollar could see a renewed selling pressure, creating further basis for Gold price momentum. After breaking out 2340, gold retreated to the support zone 2333. This is an important support zone and enough to push gold back up to 2340 before the US economic data released today. Gold has formed a clearer uptrend after sideways from the beginning of the week until today. Support: 2332 - 2325 - 2315 - 2305 - 2300 - 2291 - 2286 Resistance: 2340 - 2344 - 2350 - 2355 SELL price range 2353- 2355 stoploss 2359 BUY price range 2310-2312 stoploss 2307
OANDA:XAUUSD
by TVS-Trader
EURUSD analysis week 27📌EUR/USD continued to slide to Friday's lows, falling to 1.0670 before recovering to 1.0700 during the US market session. Political pressure is weighing on the Euro after a major change in European voter sentiment. 📌On the US side, increasingly negative data is raising concerns about a possible recession, fueled by the results of the University of Michigan (UoM) consumer sentiment survey. worse than expected. 📌The currency pair is trading far away from the EMA 34 and EMA 89, showing that there has been instability in the pair over the past week. The downtrend is clearly established as the key support zone of 1,073 was broken and created a bearish Dow pattern. The pair's narrow trading range was formed at 1,070 and 1,076. When the market fluctuates strongly due to news of important resistance and support areas next week, investors can pay attention to the port areas of 1,061 and 1,080. Trading signals BUY EURUSD zone 1.06200-1.06000 SL 1.065800 SELL EURUSD zone 1.08000-1.08200 SL 1.08400 Support: 1.062 - 1.070 Resistance: 1.076 - 1.080
by TVS-Trader
Gold analysis week 27The gold market maintained a steady recovery ahead of the weekend, but the overall trend remains unclear as US consumer confidence continues to decline and inflation expectations remain high. The new divergence between the Fed's interest rate forecast and market expectations could bring some volatility to the gold market in the short term. China is the main driving force behind the increase in gold prices over the past year, and China's gold purchases have only been assessed as temporary and there has not been any move to show that they have "stopped". could also be a move to avoid paying a record high purchase price. The market will get some preliminary and regional manufacturing data as well as some US housing data next week. Gold has recovered from the support level of 2,305 - 2,300 USD but in general the recovery momentum is still limited and the downtrend has not been broken yet. The recovery momentum of gold price is limited by the confluence area of ​​technical point 2,340 in the trendline area which is also the nearest peak, followed by resistance level 2355 where gold breaks the bullish structure, As long as gold remains below the 34 EMA and 89 EMA, the technical outlook for gold prices remains bearish, while if gold breaks below $2,324 it will have room for more downside with the following target level. That's around $2,305 - $2,300 in the short term. A new bearish cycle is expected to open once gold breaks below the original price of $2,300, and the target level is then 2286 and then 2270. Support: 2,324 – 2,305 – 2,300 - 2286 Resistance: 2,340 – 2,355
OANDA:XAUUSD
by TVS-Trader
1
British pound increased higher after inflation decreasedThe British pound (GBP) edged higher above the 1.2700 round resistance level on Wednesday after the Office for National Statistics (ONS) of the United Kingdom (UK) showed that price pressures had eased as expected in May. 5. UK annual inflation returned to the central bank's 2% target for the first time in more than three years from April's 2.3%. During the same period, the core Consumer Price Index (CPI), which excludes volatile food and energy prices, fell to 3.5% from 3.9% previously. Monthly headline inflation rose steadily 0.3% but was below estimates of 0.4%. The report also showed that the annual Producer Price Index (PPI) for Core Output rose a significant 1.0% in May, compared with a 0.3% increase a month earlier. Despite the annual CPI falling to 2%, Bank of England (BoE) policymakers may not be comfortable with discussions of cutting interest rates soon because of epidemic inflation. The annual crop has barely slowed down. Inflation in the services sector increased by 5.9%, slightly lower than the previously announced 6.0%, but nearly double the level needed to contain price pressures. The next trigger for the Pound will be the BoE's monetary policy decision, to be announced on Thursday. The BoE is widely expected to keep interest rates unchanged at 5.25%. Therefore, investors will focus on vote division and new signals on when the BoE will start cutting interest rates. Resistance: 1.275 Support: 1.266
by TVS-Trader
Gold prices attract some sellers as Fed-inspired USD strengthGold prices encountered new supply in the early hours of trading in Europe and faded Friday's positive move after the surprise of the Federal Reserve's (Fed) hawkish stance. The possibility of the Fed implementing two interest rate cuts in 2024 is still being considered amid signs of easing inflationary pressures in the US. Additionally, persistent geopolitical tensions in the Middle East, coupled with political instability in Europe, will help limit losses in the safe-haven metal. From a technical perspective, traders need to wait for gold's sustained breakout below the $2,300 mark before placing strong bearish bets on gold. Therefore, it would be wise to wait for some further selling below the $2,285 horizontal support to be sure gold's position is truly bearish. The commodity could then accelerate its decline to the next relevant support near the $2,254-2,253 area. The downward trajectory could extend further towards the $2,225-$2,220 area en route to the $2,200 round figure. On the contrary, gold regained strength when it returned to trading above 2325. Next is the $2,340 supply zone where gold has not been able to break out of the border for 2 weeks, which, if cleared decisively, could push pushed some recoveries above the 2355 trendline above. when the trendline broke the notable peak area of ​​2385 on the way to the 2,400 USD mark. Support: 2312 - 2300 - 2291 - 2286 - 2280- 2274 Resistance: 2325 - 2340 - 2350 SELL price range 2340 - 2342 stoploss 2346 BUY price range 2303 - 2301 stoploss 2298
OANDA:XAUUSD
by TVS-Trader
Gold sideways waits for important economic dataGold price cannot break the 2325 resistance level to form a short-term uptrend. Gold retreated to levels near 2310 as the US dollar tried to recover even as US Treasury yields eased again. The release of US retail sales data on Tuesday, weekly jobless claims on Thursday and a flash purchasing managers' index on Friday could provide clarity. in terms of consumption and economic strength. In the last two weeks, the wide range that gold is trading at is still 2340 and 2300. The lower levels of 2308 and 2325 are still keeping gold prices stable from yesterday's European session to today. In general, gold still moves sideways until the latest data from the US economy is released. Support: 2308 - 2300 - 2291 - 2286 Resistance: 2330 - 2340 - 2350 SELL zone 2338-2340 stoploss 2343 BUY zone 2308 - 2306 stoploss 2303
OANDA:XAUUSD
by TVS-Trader
XAUUSD : Does gold have the ability to recover strongly?XAU/USD is increasing slightly and hovering around 2,337 USD/ounce. According to American Bank Wells Fargo, this precious metal may continue to consolidate throughout the summer as the market accepts the Fed's tightening policy. In an interview with Kitco News, John LaForge, Director of Real Asset Strategy at the bank, said: "Central banks will continue to buy wine, while also seeing solid upside potential in gold." quarterly through 2025. According to Wells Fargo's mid-year updated price forecast, gold prices are expected to trade between 2,300-2,400 USD/ounce."
OANDA:XAUUSD
by SantaTradeGold
EURUSD: 2 Bearish Confirmations 🇪🇺🇺🇸 I see 2 strong bearish signals on EURUSD. After a formation of a strong bearish impulse, the pair started to steadily recover within a bearish flag pattern on a 4H. The price also formed the inside bar formation within the boundaries of the flag. Today, both the support of the flag and the range of the mother's bar were broken. It is a very strong technical confirmations. I think that the market may drop to 1.069 ❤️Please, support my work with like, thank you!❤️
Short
by VasilyTrader
1
Bitcoin & Ethereum - Morning Update Bitcoin and Ethereum Morning Update Good morning, we are back close to the MarchVWAP on ETH 🚨 Still needs to be flipped for the trend to reverse on the higher time frame, if we get this reclaim we are looking for scalps on some assets but thats for later. This setup on ETH with the multiple retests on the cluster reminds me of another setup on ETH just close before we saw the big increase before the ETF happening. On BTC things are looking good as we held the most important level for now the MarchVAL. But on BTC the MarchVWAP is getting problematic too. We are still thinking that ETH is going to outperforme BTC in the next months in either direction. The 4H close on BTC above the MayVWAP is important and not just a fakeout, if we get a reversal in the next 30min we could be in light troubles but as long the MarchVAL holds everything is fine. We are looking for possible setbacks before breaching the next key levels on Bitcoin and Ethereum.
COINBASE:ETHUSDLong
by stromm_by_wmc
INDUS TOWER LONG/BUYTrade Setup long in Indus Tower 1. Monthly/weekly/Daily TF Bullish 2. Consolidating near a Big Breakout area 3. Block Deal happened b/w 311-340 and low is tested already in 3rd 5 min Candle 4. 2 Bullish Hammers on 5 Min TF & SL is Slightly Big as it is a positional Trade 5. Marked blue is a strong Breakout Level 6. 325-320 is Strong CIP Level 7. Hence Went Long 8. Buy @335-340 SL-310 target 450-470 Fundamentally this company is strong and also the part of rural developing economy alongside, which will benefit India in coming years definitely
NSE:INDUSTOWERLong
by Wealthy_Vikish
2
SILVER - back for again top? Or not??#SILVER .. in yesterday our area was 29.60 to 29.65 And you can see market hold it for 3 or 4 times. And then market broke that level and placed around 29.80 as day high As you know that yesterday was bank holiday in USA means no major data or no major move. Now we have 29.90 as a important major resistance for silver. 29.90 will play key role in today with important data's in table. So keep close 29.90 it will your area for tomorrow. If market hold it then a drop expected from here. And if not then not at all. Only area 29.90 Good luck Trade wisely
OANDA:XAGUSD
by AdilHussain731333
SMART MONEY CONCEPT EXPLAINEDThe Smart Money Concept (SMC) involves understanding the behavior and strategies of institutional investors to inform trading decisions. Within SMC, there are several key components and strategies, including concepts like CHoCH (Change of Character), BOS (Break of Structure), FVG (Fair Value Gap), and others. Here's an in-depth explanation of these concepts: 1. Change of Character (CHoCH) Definition CHoCH refers to a significant shift in market sentiment or trend. It's a point where the market changes direction, indicating a potential reversal. Identification Higher Highs to Lower Lows (or vice versa): In an uptrend, CHoCH occurs when the market stops making higher highs and starts making lower lows, signaling a possible downtrend. Volume and Momentum Shifts: Increased volume or momentum in the opposite direction can also indicate a change of character. Application Entry/Exit Points: CHoCH helps traders identify potential entry and exit points by signaling when a trend might be reversing. 2. Break of Structure (BOS) Definition BOS occurs when the price breaks a significant support or resistance level, indicating a continuation or reversal of the trend. Identification Support/Resistance Levels: When price breaks these levels with strong momentum, it signals a BOS. Swing Highs and Lows: A break above a previous swing high or below a previous swing low is considered a BOS. Application Trend Confirmation: BOS helps confirm the direction of the trend, allowing traders to align their trades with the prevailing market direction. 3. Fair Value Gap (FVG) Definition FVG represents a price gap left in the market where there was a rapid price movement, often due to high volatility or significant market orders. Identification Price Gaps: FVGs are visible as gaps on the price chart where little to no trading occurred. Imbalance Zones: These are zones where the buying and selling are not balanced, leading to rapid price movement. Application Retracement Points: FVGs often act as magnets for price, as the market tends to revisit these gaps to fill them, providing potential retracement or entry points for traders. 4. Other Major Parts of the Smart Money Concept Liquidity Pools Definition: Areas in the market where a large number of orders are clustered, typically around key support and resistance levels. Application: Institutions often target these areas to trigger stop-loss orders, creating liquidity for their trades. Order Blocks Definition: Consolidation areas where institutions place large buy or sell orders, creating a base for future price movement. Identification: These are visible as zones of consolidation on the chart. Application: Order blocks can act as strong support or resistance levels, providing potential entry or exit points. Institutional Candles Definition: Large candlesticks that represent significant institutional activity. Identification: These candles are usually much larger than the surrounding ones and often occur at key levels. Application: They signal strong buying or selling interest from institutions, indicating potential future price direction. Stop Hunts Definition: The practice where institutions push the price to trigger stop-loss orders placed by retail traders to create liquidity. Identification: Sudden, sharp price movements towards obvious stop-loss levels. Application: Recognizing stop hunts can prevent premature exits and provide entry points at better prices. Market Cycles Accumulation Phase: Period where smart money is building positions, often characterized by sideways price movement with low volatility. Mark-Up Phase: After accumulation, the price starts to move upward rapidly as institutions push the market in their favor. Distribution Phase: Institutions begin to offload their positions, leading to sideways movement with high volatility. Mark-Down Phase: Following distribution, the price moves downward rapidly as institutions sell off their positions.
Education
by realmillionairefx