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GBP/USD Fluctuates in a Narrow Range Amid Economic DataOn Tuesday, the GBP/USD pair traded within a narrow range between 1.3077 and 1.3080, showing a slight rebound from a demand area. Despite the modest movement, the market is still waiting for more significant developments before making larger moves. UK Economic Data Supports GBP Stability Earlier on Tuesday, the Office for National Statistics (ONS) released key employment data, which provided some support for the British Pound. The ILO Unemployment Rate for the three months leading up to August eased to 4.0%, down from 4.1% in July. Additionally, Employment Change figures showed an increase of 373K in August, up from 265K in July, indicating continued resilience in the labor market. However, the report also showed a slight softening in wage inflation, as the Average Earnings excluding Bonus dropped to 4.9%, down from 5.1%. While wage growth moderated, the overall labor market data was positive enough to give the Pound some stability in the early session. US Data and Market Outlook The economic calendar is light for the US on Tuesday, with no major data releases expected. The market’s focus will shift to Thursday when the USD Core Retail Sales (m/m), Retail Sales (m/m), and Unemployment Claims are due to be released. These reports are expected to bring more volatility to the GBP/USD pair, as they will provide insights into the strength of the US economy and the potential direction of the US Dollar. Until these data are released, the British Pound may continue to hold onto small gains, but the overall market mood remains cautious. Technical Outlook: Bearish Momentum Ahead? From a technical standpoint, GBP/USD remains under bearish pressure, and we anticipate a potential continuation of this trend. While the pair has found some temporary support around the current levels, we expect the bearish momentum to continue until the pair reaches a more solid demand zone around the 1.2800 level. Until the pair approaches this level, we are refraining from opening any new positions, waiting for more clarity on market direction and potential retracement signals. Conclusion GBP/USD is holding steady in a narrow range as UK labor market data provides temporary support. However, the overall outlook remains cautious, with the potential for further bearish pressure. Investors should keep an eye on Thursday’s US data releases, which could trigger more significant movements in the pair. For now, we are waiting for GBP/USD to reach a stronger demand area before considering any new positions. ✅ Please share your thoughts about GBP/USD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
by FOREXN1
1
Natural Gas Trading: Strategies Around Key Levels 15-10-2024Navigating Natural Gas Trading: Strategies Around Key Levels Natural gas trading can be both exciting and challenging, especially when you have clear reference points like your mid-point and upper/lower levels. In this blog, we'll explore strategies to navigate the current market with a mid-point of 208.50, an upper level of 209.90, and a lower level of 207.10. Understanding the Key Levels Mid-Point (208.50): This serves as the equilibrium level in the market. Prices often oscillate around this point, making it a significant area to watch for potential trades. Upper Level (209.90): This is your resistance level. If prices approach this point, it may indicate an opportunity to go short, anticipating a reversal. Lower Level (207.10): This serves as your support level. If prices test this area, consider going long, expecting a bounce back. Trading Strategy 1. Price Action Analysis Before making any trades, observe the price action around these levels. Watch for candlestick patterns, volume spikes, and other indicators that suggest market sentiment. If Price Approaches 209.90: Look for signs of resistance. A reversal pattern (like a double top or shooting star) may suggest that the price is likely to drop. Consider placing a short trade with a stop-loss above this level. If Price Approaches 207.10: Watch for bullish signals. A strong bullish candlestick or a reversal pattern could indicate that the price will bounce back. In this case, consider a long position with a stop-loss just below this level. 2. Risk Management Always prioritize risk management. Set your stop-loss orders based on your risk tolerance. For example, if you're trading near the upper or lower levels, consider setting your stop-loss a few ticks outside these levels to avoid getting stopped out by minor fluctuations. 3. Monitoring Market Conditions Natural gas prices can be highly influenced by external factors like weather, supply reports, and geopolitical events. Stay updated on relevant news and reports to make informed trading decisions. Conclusion Trading natural gas around key levels requires a solid understanding of price action and market sentiment. By using your mid-point, upper, and lower levels strategically, you can identify potential trade opportunities. Remember to incorporate risk management to protect your capital. Whether the price moves towards the upper level or the lower level, having a plan in place will help you navigate the market with confidence. Dear Traders, As you navigate the dynamic world of trading, it’s crucial to remain vigilant about the financial risks involved. Here are key considerations to keep in mind: Market Volatility: Financial markets, including natural gas, can be highly volatile. Prices can change rapidly due to unexpected news or economic data. Always be prepared for sudden fluctuations. Leverage Risks: Trading with leverage can amplify both gains and losses. While it allows for larger positions, it also increases the risk of significant financial loss. Use leverage cautiously and understand the implications. Risk Management: Implementing a solid risk management strategy is essential. Set stop-loss orders to limit potential losses and only risk a small percentage of your capital on any single trade. Emotional Discipline: Trading can evoke strong emotions, leading to impulsive decisions. Maintain discipline and adhere to your trading plan, even in challenging market conditions. Market Research: Stay informed about market trends, economic indicators, and geopolitical events that may impact prices. Informed traders make better decisions. Education and Experience: Continuous learning is vital. Consider practicing with a demo account to hone your skills before committing real capital. Consult a Financial Advisor: If you're uncertain about your trading strategy or financial situation, seeking advice from a qualified financial advisor can provide valuable insights. Trading can be rewarding, but it carries inherent risks. Stay informed, manage your risks carefully, and trade responsibly. Wishing you successful trading!
MCX:NATURALGAS1!
by FinanceGit
Gold Price Analysis October 15Fundamental Analysis Gold prices found some support near the $2,638 region during the early European session on Tuesday and now appear to have halted its modest pullback from the more than one-week high reached the previous day. Persistent geopolitical risks and fears of a broader conflict in the Middle East turned out to be a major factor providing some support to the safe-haven precious metal. However, any meaningful upside move in Gold prices appears to remain elusive amid continued buying in the US Dollar (USD), which remains well supported by expectations of a less aggressive easing policy from the Federal Reserve (Fed). Moreover, disappointment over China’s fiscal stimulus measures has failed to boost investor confidence and may have contributed to limiting the upside in XAU/USD. Technical analysis Note the US session port area last night around 2660 to set up a SELL signal when the European session cannot break out of that area. Port 2638 is considered an important European session price port when Gold has reacted strongly, when the gold price comes there may be another reaction. The main BUY zone when the US session is expanded to 2630-2628. The extended resistance zone of the US session is expanded to 2668-2670. Wish you successful trading
OANDA:XAUUSD
by TVS-Trader
Gold Price Analysis October 14Fundamental Analysis Gold prices rose for a third straight day on Monday, rising to $2,667, or above a one-week high, in early European trading on Monday. Expectations that the Federal Reserve will continue to cut interest rates amid a favorable inflation outlook were the main factor driving flows into the non-yielding yellow metal. In addition, escalating geopolitical tensions in the Middle East also provided additional support for safe-haven bullion. Meanwhile, U.S. Treasury yields and the U.S. dollar (USD) remained elevated amid rising bets for a less aggressive easing policy from the U.S. central bank. This, coupled with a generally positive risk tone and optimism over China’s commitment to increase debt to revive its economy, could keep safe-haven bullion from gaining any further ground. This, in turn, warrants some caution for bullish traders and before positioning for any further upside amid a partial holiday in the US. Technical Analysis With the bank holiday, gold’s range bounds are unlikely to see a strong breakout. The 2665 high is seen as the top zone for today if the price fails to break above this zone by mid-European session. SELL entries can be established around the current price zone and the target level is expected to be around 264x-262x. The 2740 zone remains a strong and notable port zone for today.
OANDA:XAUUSD
by TVS-Trader
4
Potential Bullish Breakout for SAGA/USDT: Cup and Handle PatternCup and Handle Pattern: The pink curve outlines a "Cup" formation, which is a bullish reversal pattern. This is typically formed when there is a gradual rounded bottom, followed by a breakout to the upside. The cup's depth is marked by a large percentage gain (272.58%), reflecting the potential move from the bottom of the cup to the breakout point (the green line at approximately $3.30). Price Levels: Current Price: Around $3.30. Resistance Levels: There’s a projected upward target of $6.5010, which aligns with the height of the cup pattern and indicates where the price might go following a successful breakout. Support Level: The lower green line at $1.7944 shows a significant support area in case the price reverses downward. Measured Moves: The text "2.3628 (272.58%)" and "4.7561 (272.57%)" indicates that this chart predicts a possible price movement of around 272% from the breakout point if the cup-and-handle pattern plays out correctly. These values reflect the price movements from the bottom of the pattern to the top. Blue Area: The blue dashed line and area likely represent a possible consolidation zone or retracement (the "Handle" of the Cup and Handle pattern) before the price potentially continues upwards. In summary, this chart suggests a bullish outlook for the SAGA/USDT pair, with a potential breakout from the cup-and-handle pattern leading to a significant price increase. However, the handle could form before the price reaches the predicted target of $6.50. Keep in mind that while this is a bullish technical setup, it’s important to manage risks and consider market conditions.
Long
by alemicihan
Bitcoin will break 7 month Bullish Flag?Hey traders! Here we are, as we thought we touched 59K and we came up. And we're still moving in a long 229 day bullish flag, and hopefully we could break it soon. The next resistance target is around 68K and if we're going to break this level, plus volumes will confirm and will see short correction if RSI will be oversold we can go upwards strongly! But don't forget to pay attention for 1 Day MA which is still bearish, volumes that are still descending and RSI. What's your thoughts?
Long
by SheTradesHub
NZDUSD: Intraday Bearish Confirmation?! 🇳🇿🇺🇸 Last week, I already made a prediction that NZDUSD will keep falling. Analysing the intraday price action, I spotted a strong bearish confirmation today. Retesting a recently broken structure, the price formed a head and shoulders pattern. Its neckline was violated, confirming a local dominance of the sellers. We can anticipate a down movement at least to 0.6057 ❤️Please, support my work with like, thank you!❤️
Short
by VasilyTrader
1
World gold prices tend to increaseWith RSI (14) additionally breaking the downtrend, it appears that evidently the relatively pessimistic photo of the beyond month is turning into brighter for buyers, giving investors a caution of a retest of document highs. transaction. MACD has now no longer but showed the signal, even though it is displaying symptoms and symptoms of bottoming. We noticed a small pullback all through early Monday buying and selling in Asia, as fees retested the small uptrend from mid-September, which had furnished guide till broken. broke early closing week. If the charge holds above this level, keep in mind shopping for above with a good forestall underneath to defend the goal push to a document excessive of $2,685.7. If it breaks, investors can search for a push to $2700. Bannockburn Global the Forex market CEO Marc Chandler predicts gold fees will fall this week. Although gold jumped to 2,650 USD/ounce after PPI data, he stated that this valuable steel can also additionally retest the extent of 2,six hundred USD/ounce, or maybe 2,580 USD/ounce this week. Haven call for because of fears of tensions withinside the Middle East is helping gold, however better yields and a sturdy greenback should placed strain at the valuable steel, Chandler explained.
TVC:GOLDLong
by FalCol_TradingMaster
VELAS is ready to fly (Alex Alexandrow is back)🚀 VELAS: The Future of Blockchain! 🚀 NOW is the time to act on VELAS ( LSE:VLX )! With the return of Alex Alexandrow, a pivotal figure in the Velas ecosystem, the project is re-energized, and bullish momentum is about to take off. This is your chance to get in at the right time before Velas rockets up. The chart shows a clear bullish reversal pattern, signaling a massive breakout potential! The clock is ticking, be part of the next wave in crypto! Technical Analysis of VELAS ( LSE:VLX ) by Blaž Fabjan The 1-hour chart of VELAS shows the formation of a classic falling wedge pattern, which is a well-known bullish reversal signal. Here's a detailed breakdown: Falling Wedge: Bullish Reversal Support and Resistance: The wedge pattern is narrowing, indicating that the price has been consolidating, building pressure for a breakout. Breakout Imminent: As the price has broken out of the wedge, this confirms a potential bullish reversal. Expect upward momentum in the near future. Technical Indicators VMC Cipher B (Volatility & Momentum): The indicator shows signs of divergence, with momentum shifting towards bullish territory. Expect increased buying pressure soon. Look for key bullish signals like green dots or a shift in the oscillator for confirmation. RSI (Relative Strength Index): RSI is hovering around 44.7, indicating that the asset is neutral but leaning towards an oversold condition. This suggests the price is ready to rise as momentum builds. Stochastic Oscillator: The stochastic is bouncing from a low of 47, indicating that bullish momentum is starting to pick up. Crossovers here signal a potential upward trend. Key Levels to Watch Immediate Resistance: $0.01194 — this level is crucial for confirming the bullish reversal. Once broken, it opens the door for further gains. Next Targets: After surpassing $0.01194, the next target is around $0.0166, which is the previous high and a major psychological barrier. Support: $0.01115 — should act as strong support if prices retest this level during a short-term pullback. Trading Plan for VELAS Entry Strategy: Entry Zone: $0.0112 to $0.0115 — this area offers a prime buying opportunity with minimum downside risk. Set limit orders in this range. Breakout Buy: If Velas breaks above $0.01194 (resistance), a momentum trade can be initiated, targeting the $0.0166 level. Stop Loss: $0.0108 — place a stop loss below this level, ensuring protection against any sudden downside moves while allowing enough room for price fluctuation during consolidation. Take Profit Targets: $0.014 (Short-term) $0.0166 (Medium-term) $0.017 and beyond (Long-term upside potential) Risk Management: Risk-to-reward ratio should be at least 1:3. Allocate no more than 2-3% of your total portfolio to each trade, maintaining a balanced exposure. Velas is Ready to Fly 🚀 With the technical patterns aligning and the return of key leadership, VELAS is poised for a bullish breakout. This presents a golden opportunity for both short-term traders and long-term investors. Don’t wait too long—once the breakout happens, the price could surge quickly! Start building your positions now before the hype takes this token to new heights is my advice :) Best regards, Blaž
CRYPTO:VLXUSDLong
by elfabiiani
WAGYUSWAP new MILLIONAIRES ON THE HORIZON (TA+trade plan)🚀 SOON NEW MILLIONAIRES ON THE HORIZON! 🚀 WAGYUSWAP is poised for a massive breakout with its Cup and Handle formation. This is one of the most powerful bullish signals in technical analysis, and we are on the verge of something HUGE. With momentum building, WAGYUSWAP has the potential to catapult into life-changing gains! Early investors have the chance to secure millionaire status as the breakout is IMMINENT. Don't miss out on this golden opportunity to ride the wave of a new crypto revolution. Time is ticking, and those who act fast could be the next crypto millionaires! The sky’s the limit! 🌕💸 WAGYUSWAP (WAGYUUSDT) Technical Analysis + trade plane by Blaž Fabjan Cup and Handle Formation The chart reveals a clear Cup and Handle pattern, a bullish continuation signal. The price action has developed a rounded bottom, suggesting a steady accumulation phase followed by a minor consolidation that forms the handle. This pattern indicates a strong probability of a breakout, targeting higher price levels. Key Support and Resistance Levels Support Level: The major support lies at $0.00007533, holding strong and representing a solid floor for any downward movements. Resistance Levels: The chart highlights critical resistance zones: $0.00010000 (psychological resistance) $0.00015000 (target resistance) The breakout from the handle, if confirmed, could propel WAGYUSWAP towards these resistance levels, marking a substantial bullish move. Indicators Overview VMC Cipher B: The current momentum shows divergences, indicating a strong possibility of upward movement. The positive momentum is gaining traction with increasing bullish pressure, reflecting a breakout potential. RSI (Relative Strength Index): The RSI is showing bullish strength, hovering around 51.87, and climbing towards the overbought territory. This upward movement suggests strong buying pressure and the possibility of a sustained rally. Stochastic RSI: Currently sitting at 96.67, the Stochastic RSI indicates an overbought condition. While this typically points to a potential retracement, it could also signify the start of a parabolic move during strong bullish trends. Trading Volume Volume Analysis: The chart indicates an uptick in trading volume during the formation of the cup, especially as the price approaches the breakout zone. A volume surge is expected as WAGYUSWAP breaks out of the handle. Trading Plan for WAGYUSWAP (WAGYUUSDT) Entry Point Aggressive Entry: Traders looking to capitalize early can enter at current levels near $0.00009750, expecting the breakout from the handle. This offers a favorable risk/reward ratio, provided stop losses are tight. Conservative Entry: For a safer approach, wait for a confirmed breakout above the $0.00010000 level, preferably accompanied by high volume to validate the move. Target Levels First Target: $0.00013000 – short-term profit target based on the depth of the cup formation. Second Target: $0.00015000 – medium-term target as the price surges past resistance levels. Stop-Loss Place a stop-loss just below the support level of $0.00007533. This keeps the risk controlled in case of an unexpected retracement. Risk Management Risk no more than 1-2% of your capital per trade, and adjust position sizes accordingly to account for volatility in the cryptocurrency market. WAGYUSWAP is poised for a massive breakout with its Cup and Handle formation. This is one of the most powerful bullish signals in technical analysis, and we are on the verge of something HUGE. With momentum building, WAGYUSWAP has the potential to catapult into life-changing gains! Early investors have the chance to secure millionaire status as the breakout is IMMINENT. Don't miss out on this golden opportunity to ride the wave of a new crypto revolution. Time is ticking, and those who act fast could be the next crypto millionaires! The sky’s the limit! 🌕💸
Long
by elfabiiani
Gold breaks the downtrend With RSI (14) additionally breaking the downtrend, evidently the fairly pessimistic image of the beyond month is turning into brighter for buyers, giving investors a caution of a retest of report highs. transaction. MACD has now no longer but showed the signal, even though it is displaying symptoms and symptoms of bottoming. We noticed a small pullback throughout early Monday buying and selling in Asia, as costs retested the small uptrend from mid-September, which had furnished aid till broken. broke early closing week. If the charge holds above this level, keep in mind shopping for above with a good forestall underneath to defend the goal push to a report excessive of $2,685.7. If it breaks, investors can search for a push to $2700. 💎 XAUUSD sell 2652-2654💎 ✔️TP1: 2645 ✔️TP2: 2640 ✔️TP3: OPEN 🚫SL: 2660 💎 XAUUSD buy 2642 - 2640💎 ✔️TP1: 2652 ✔️TP2: 2665 ✔️TP3: OPEN 🚫SL: 2633
OANDA:XAUUSD
by FalCol_TradingMaster
EURUSD week 42 analysis🌐Fundamental Analysis EUR/USD consolidated near 1.0930 in New York trading on Friday. The major currency traded sideways as the US Dollar (USD) remained flat despite the release of US Producer Price Index (PPI) data showing that producer inflation accelerated faster than expected in September compared to a year earlier. The US Dollar Index (DXY), which tracks the greenback against six major currencies, hovered around 103.00. Higher-than-expected US producer inflation following stubborn inflation data has raised the risk of persistent inflation. However, according to CME's FedWatch tool, this is unlikely to affect market expectations that the Federal Reserve will cut interest rates by 25 basis points (bps) in November. In contrast, Atlanta Federal Reserve Bank President Raphael Bostic has suggested keeping interest rates unchanged at 4.75%-5.00% in November. 🕯Technical Analysis EURUSD's bearish wave has not stopped yet as the pair's DOW waves have not yet shown strength. The strong reaction at 1.090 has established this area as an important support area for the pair next week. The upper limit in front of us is the peak area of ​​1.0980. The widest trading range that the pair will operate next week is around the support area of ​​the previous month's bottom around 1.080 and the disputed resistance area of ​​1.104. The SELL point coincides with Fibonacci and EMA so we can put our trust in trend SELL orders. 📈📉Trading Signals BUY EURUSD 1.080-1.078 Stoploss 1.076 SELL EURUSD 1.104-1.106 Stoploss 1.108
by TVS-Trader
ANALIZING PALANTIR ITS JUST COMMON SENSE... BUT BE VERY CAREFULLLet’s welcome Palantir (PLTR) into the weekend analysis! As we can see in the chart, today I wanted to do general structure analysis not too specific, as we are practically touching the highest level again in nearly 4 years. Congratulations to all who bought at $12–16 per share and are still holding Palantir, but as I show in the chart, from point A to point B, it took almost 4 years to reach these levels again. But here’s my question: WHAT WOULD YOU DO IF YOU BOUGHT AROUND $40 IN 2021? I’d love to know, as this situation can greatly influence each person’s psychology when making a fundamental decision in trading. (LEAVE YOUR OPINION IN THE COMMENTS) I want you to know that I don’t just focus on price analysis. I also study company valuation. Based on a fundamental analysis of its balance sheet and recent moves by PLTR, I’ve concluded that Palantir is currently 171% above its intrinsic value. In my personal opinion, my decision leans more toward common sense… What do I mean? 1. Palantir is 171% overvalued. 2. Palantir is diluting its investors like crazy! In every quarterly report. Do you know what dilution is? Stock dilution can be harmful to shareholders because the value of each share is reduced, even though the investor holds the same number of shares. This is because the total value of the company doesn’t increase proportionally with the number of shares. Palantir is an excellent company, although it’s a bit complicated to understand what they do and how they make money. But in my personal opinion, a company that dilutes its investors is nothing but a red flag to me—and a big red flag—because I call this the silent killer for investors. At this point, PLTR is more on the hype side! If Palantir reports well in November, we could see the stock above $50 per share, BUT if Palantir reports anything that doesn’t meet investor expectations, any data that falls short… Buckle up! But how much could it fall? The truth is, I don’t know. But if we base it on technical analysis, I have an important inflection point (purple zone) where I expect the price to bounce after a sharp drop. BUT CAUTION! Only if Palantir doesn’t meet expectations. An inflection point in trading refers to a critical moment on a price chart where the trend or price direction is expected to change. It marks the transition from one phase of price movement to another, often signaling a turning point in market sentiment or momentum. Traders pay close attention to inflection points as they may indicate a radical trend shift. Traders use these points to adjust their strategies, such as entering or exiting positions, to capitalize on the expected change in price direction. BUT WHAT WILL REALLY HAPPEN? I don’t know, maybe this time it will be different—who knows? But the only thing I can tell you is that numbers don’t lie, and neither does price action. So, I hope the decision you make is the right one! Thank you for supporting this analysis. Sending you my best regards!
NYSE:PLTRShort
by RocketMike111
2
BTC's situation+next targets and expected movements.(Daily)I still stand by my opinion and haven’t changed my mind that Bitcoin should reach $73,000. Now let’s analyze this technically. Recently, Bitcoin managed to break this triangle strongly and rose to above $66,500. However, The price has now been corrected and it can go up to 67k, and then breaking the head and shoulders pattern, and finally reach the megaphone top. ✨We spend hours finding potential opportunities and writing useful ideas, we would be happy if you support us. Best regards CobraVanguard .💚 _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⚠️Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Long
by CobraVanguard
Chart for trading on time frame charts below 1D chart Hello, traders. If you "Follow", you can always get new information quickly. Please also click "Boost". Have a nice day today. ------------------------------------- This is an indicator created for trading on time frame charts below 1D charts. Therefore, there is nothing to explain. This is because trading should be conducted according to your own trading strategy or response strategy. However, I hope that it will be a reference material that allows you to create a trading strategy or response strategy that suits you by looking at the points where you can start trading or the points where you can respond. To use this chart, click the three dots below this idea and click Grab this chart. --------------------------------------------- The basic trading method is as follows. 1. The BW 0 line or BW 100 line is the standard line for trading. Therefore, to start trading for the first time, you will trade with a buy (LONG) or sell (SHORT) position depending on whether these two lines are supported. 2. The Mid (50) line is the position conversion line. Therefore, when trading with a sell (LONG) or sell (SHORT) position, if you touch the Mid (50) line, you should proceed with a split transaction or liquidate depending on the situation. 3. The High (80 Down), Low (20 UP) line plays the same role as the Mid (50) line, but it is a line for the main purpose of a split transaction. Therefore, in the case of a low time frame chart, it may be more helpful to deactivate the High (80 Down), Low (20 UP) lines. - The additional trading method is as follows. 1. If it falls below the BW 0 line, it is likely to lead to a stepwise downtrend. 2. If it rises above the BW 100 line, it is likely to lead to a stepwise uptrend. Therefore, if 1 and 2 occur, you should conduct split trading near the Mid (50), High (80 Down), and Low (20 UP) lines. To determine this, it is recommended to conduct trading by referring to the movement of the StochRSI indicator. If the StochRSI indicator has entered the overbought zone, it is highly likely to lead to an additional rise. Therefore, if it falls in the overbought zone and changes to a state where StochRSI < StochRSI EMA, the price is likely to continue to decline. Conversely, if the StochRSI indicator has entered the oversold zone, it is highly likely to lead to an additional decline. Therefore, if it rises in the oversold zone and changes to a state where StochRSI > StochRSI EMA, the price is likely to continue to rise. With this interpretation method, I recommend using it as a basis for judging how to proceed with a transaction when the price is located near the BW 0 line and the BW 100 line. - When trading, it is recommended to proceed based on the trend of the 1D chart. In other words, if the 1D chart maintains an upward trend, it is recommended to proceed with a transaction to maintain a long position. If you need to trade in the opposite direction of the 1D chart trend, remember that a short and quick response is required. In order to see the overall trend, the M-Signal indicators of the 1M, 1W, and 1D charts have been added. For scalping or day trading, the 5EMA indicator of the 1D chart has been added. - Have a good time. Thank you. --------------------------------------------------
by readCrypto
Gold Price Analysis October 11Fundamental Analysis Gold prices eased from a three-day high and traded around $2,640 in early European trade on Friday, still up more than 0.40% on the day. A rise in US weekly jobless claims pointed to signs of weakness in the labour market and will allow the Federal Reserve (Fed) to cut interest rates further. This, in turn, triggered a slight decline in US Treasury yields, which, coupled with softer risk sentiment, helped the non-yielding yellow metal gain positive traction for a second straight day. Investors, meanwhile, have fully priced in the possibility of an excessive rate cut by the Fed in November following the release of stronger-than-expected US consumer inflation figures on Thursday. In turn, this helped the US Dollar (USD) halt the previous day's downside correction from its highest level since mid-August and act as a drag on Gold prices. Traders are now looking to the US Producer Price Index (PPI), the Michigan Preliminary Consumer Sentiment Index and Inflation Expectations, and the Fedspeak for short-term momentum. Technical Analysis 2650 remains an important psychological port if gold pushes down before PPI, this zone can still be SELL today. The market is sideways around 2640 waiting for PPI promising a big volatile day today with the upper limit around 2658-2660 as the market watches the news and the US session pushes forward. In the support zone, scalping breakout is believed to be around 2628 and the important point today 2620 is still the breakout zone. SELL 2658-2660 Stoploss 2665 BUY 2620-2618 Stoploss 2615
OANDA:XAUUSD
by TVS-Trader
XAUUSD / TRADING INSIDE SUPPLY ZONE / 1HXAUUSD / 1H TIME FRAME HELLO TRADERS Current Supply Zone ,The price is trading between $2,652 and $2,639, which is identified as a sell zone. This range suggests a likelihood of downward price movement as long as the price stays within this zone. If the price remains in this range, it is expected to decline to the demand zone, which is between $2,610 and $2,604. This would indicate potential buying opportunities, as the demand zone typically reflects areas where buying interest might emerge and support the price. If the price breaks and stabilizes above the $2,652-$2,639 zone, it suggests an increase in price. In that case, the price is likely to target the next supply zone between $2,668 and $2,685, signaling further upward momentum. The overall tone of the analysis indicates that the market is under bullish pressure, meaning that the expectation is for price increases unless the bearish scenario plays out. Supply Zone : 2,652$ and 2,639$ , 2,668$ and 2,685$. Demand Zone : 2,610$ and 2,604$.
OANDA:XAUUSDShort
by ArinaKarayi
1