USOIL / TRADING INTO DESCENDING CHANNEL - 4HUSOIL / 4H TIME FRAME
HELLO TRADERS
Tendency , prices is under downward pressure , until trading below turning level at 74.76
Downward Condition: With the price holding steady at the current turning level at 74.76 , it is likely to decline towards the support level of 72.81. If it stabilizes below this level, it could then reach the next target level of 70.92
Upward Condition : for an upward , a potential is expected if the price breaks the turning level at 74.76 , leading to a rise toward the resistance level (1) at 76.15 . For a sustained increase, the price must breaking the resistance level (1) to reach the next resistance at 78.55
TARGET UPWARD ZONE :
RESISTANCE LEVEL (1) : 76.15 .
RESISTANCE LEVEL (2) : 78.55 .
TARGET DOWNWARD ZONE :
SUPPORT LEVEL (1) : 72.81 .
SUPPORT LEVEL (2) : 70.92 .
TURNING LEVEL : 74.76 .
Tradingstrategies
GOLD / UNDER BEARISH PRESSURE - 4HXAUUSD / 4H TIME FRAME
HELLO TRADERS
Tendency , prices is under downward pressure , until trading below turning level at 2,507$
Downward Condition: With the price holding steady at the current turning level at 2,507$ , it is likely to decline towards the support level of 2,475$. If it stabilizes below this level, it could then reach the next target level of 2,459$ , maybe prices reach 2,520$ before starts a dropping .
Upward Condition : for an upward , a potential is expected if the price breaks the turning level at 2,507$ , leading to a rise toward the resistance level (1) at 2,520$ . For a sustained increase, the price must breaking the resistance level (1) to reach the next resistance at 2,532$.
TARGET UPWARD ZONE :
RESISTANCE LEVEL (1) : 2,520$ .
RESISTANCE LEVEL (2) : 2,532$.
TARGET DOWNWARD ZONE :
SUPPORT LEVEL (1) : 2,475$ .
SUPPORT LEVEL (2) : 2,459$ .
TURNING LEVEL : 2,507$ .
XAUUSD / TRYING TO RETEST BEFORE REACH HISTORICAL PEACK - 4HXAUUSD
HELLO TRADERS
Tendency , the price is under bullish pressure , until trading above turning level at 2,474$ .
Turning Level: The price is currently trading above this level around 2,474$ . As long as it remains stable and stays above this level, a rising toward the resistance level (1) is likely . However, if the price breaks under this level and a 4-hour candle closes below it, an downward move toward the support level (1) can be expected.
support Level (1) : around 2,452$ , The price is currently above turning level . To reach this level, the price needs to break and close a four-hour candle below the turning level at 2,474$ . If the price reaches 488.2 , and stabilizes below it, it will likely attempt to reach support level (2) .
support Level (2): When the price breaks through support Level (1) and closes a 4-hour candle below it, this suggests it could reach around 2,432$ . To confirm an downward , the price needs to reach this level before moving on to support Level (3) at 2,420$ .
Resistance Level (1): As long as the price remains above the turning level of 2,474$$ , it suggests a rising towards 2,508$ . If the price reaches this level and stabilizing above it, it will likely attempt to reach resistance Level (2).
Resistance Level (2): When the price breaks through resistance level (1) and closes a 4-hour candle above it, this suggests it could reach around 2.525$ . To confirm an uptrend , the price needs to reach this level before climb on to resistance Level (3) at 2,540$ .
Channel Trend: the trading rate within the ascending channel .
TARGET LEVEL :
RESISTANCE LEVEL : 2,508$ , 2,525$ , 2,540$ .
SUPPORT LEVEL : 2,452$ , 2,432$ , 2,420$ .
GOLD ROUTE MAP UPDATEHey Everyone,
Once again our levels were respected and provided the calibrated bounces inline with our plans to buy dips.
Yesterday we advised that we were now seeing a range being established between 2500 and 2519/2533 and will need to see ema5 cross and lock on either weighted support or resistance level to determine the next move.
- 2519 was hit and then no lock confirmed the rejection into 2500 and then a break of 2500 followed with the full retracement range test. The retracement level gave the bounce exactly like we shared and more than 40 pips.
We will now look for a 2488 re-test and a failure to cross and lock above this level will follow with a rejection into the retracement range again. A further cross and lock below the retracement range will open the swing range for the extended swing bounce.
We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGET
2509 - DONE
EMA5 CROSS AND LOCK ABOVE 2509 WILL OPEN THE FOLLOWING BULLISH TARGET
2519 - DONE
POTENTIALLY 2533
BEARISH TARGETS
2500 - DONE
EMA5 CROSS AND LOCK BELOW 2500 WILL OPEN THE RETRACEMENT RANGE
RETRACEMENT RANGE
2488 (DONE) - 2472 (DONE)
EMA5 CROSS AND LOCK BELOW 2472 WILL OPEN THE SWING RANGE
SWING RANGE
2458 - 2446
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
LTCUSD / REMAIN BELOW TURNING LEVEL - 4HLTCUSD
HELLO TRADERS
Tendency , the price is under bearish pressure , until trading below turning level at 68.30 .
Turning Level: The price is currently trading below this level around 68.30 . As long as it remains stable and stays below this level, a drop toward the support level is likely . However, if the price breaks above this level and a 4-hour candle closes above it, an upward move toward the resistance level can be expected.
Resistance Level (1): around 73.17 , The price is currently below turning level . To reach this level, the price needs to break and close a four-hour candle above the turning level at 68.30. If the price reaches 73.17 , and stabilizes above it, it will likely attempt to reach resistance level (2) .
Resistance Level (2): When the price breaks through Resistance Level (1) and closes a 4-hour candle above it, this suggests it could reach around 76.44 . To confirm an uptrend, the price needs to reach this level before moving on to Resistance Level (3) at 79.83 .
Support Level (1): As long as the price remains below the turning point of 68.30, it suggests a drop towards 61.62 . If the price reaches this level and stabilizing below it, it will likely attempt to reach Support Level (2).
Support Level (2): When the price breaks through support level(1)and closes a 4-hour candle below it, this suggests it could reach around 57.61 . To confirm a downtrend , the price needs to reach this level before decline on to support Level (3 )at 52.93 .
Channel Trend: the trading rate within the descending channel.
TARGET LEVEL :
RESISTANCE LEVEL : 73.17, 76.44 , 79.83 .
SUPPORT LEVEL : 61.62 , 57.61 , 52.93 .
EURUSD / BREKOUT ASCENDING CHANNEL - 4H
EURUSD
Tendency , the price is under bullish pressure , until trading above turning level at 1.101 .
Turning Level: The price is currently trading above this level around 1.101. As long as it remains stable and stays above this level, a rising toward the resistance level (1) is likely . However, if the price breaks under this level and a 4-hour candle closes below it, an downward move toward the support level (1) can be expected.
support Level (1) : around 1.095 , The price is currently above turning level . To reach this level, the price needs to break and close a four-hour candle below the turning level at 1.101. If the price reaches 1.095 , and stabilizes below it, it will likely attempt to reach support level (2)
support Level (2): When the price breaks through support Level (1) and closes a 4-hour candle below it, this suggests it could reach around 1.088 . To confirm an downward , the price needs to reach this level before moving on to support Level (3) at 1.078 .
Resistance Level (1): As long as the price remains above the turning level of 1.101 , it suggests a rising towards 1.108 . If the price reaches this level and stabilizing above it, it will likely attempt to reach resistance Level (2).
Resistance Level (2): When the price breaks through resistance level (1) and closes a 4-hour candle above it, this suggests it could reach around 1.113 . To confirm an uptrend , the price needs to reach this level before climb on to resistance Level (3) at 1.116 .
Channel Trend: breakout ascending channel .
TARGET LEVEL :
RESISTANCE LEVEL : 1.108 , 1.113 , 1.116 .
SUPPORT LEVEL : 1.095 ,1.084 , 1.78 .
US30 ( UNDER BULLISH PRESSURE ) - 4H US30
HELLO TRADERS
Tendency , prices is under upward pressure , until trading above turning level at 40,680
Upward Condition :The price is currently experiencing bullish momentum. As long as it remains above the 40,680 turning level , it is likely to move upward toward the resistance levels of 41,040 and then 41,401.
Downward Condition :To reach the 40,239 support level (1) , the price needs to first break the turning level by closing a 4-hour candle below 40,680. If it stabilizes below support level (1) , a further decline toward the support level (2) at 39,812 can be anticipated .
TARGET UPWARD ZONE :
RESISTANCE LEVEL (1) : 41,040 .
RESISTANCE LEVEL (2) : 41,401 .
TARGET DOWNWARD ZONE :
SUPPORT LEVEL (1) : 40,239 .
SUPPORT LEVEL (2) : 39,812 .
TURNING LEVEL : 40,680 .
NAS100USD / BREAKOUT THE CHANNEL - 4H NAS100USD
Tendency , the price is under bullish pressure , until trading above turning level at 19,600 .
Turning Level: The price is currently trading above this level around 19,600 . As long as it remains stable and stays above this level, a rising toward the resistance level (1) is likely . However, if the price breaks under this level and a 4-hour candle closes below it, an downward move toward the support level (1) can be expected.
support Level (1) : around 19,188 , The price is currently above turning level . To reach this level, the price needs to break and close a four-hour candle below the turning level at 19,600 . If the price reaches 19,188 , and stabilizes below it, it will likely attempt to reach support level (2) .
support Level (2): When the price breaks through support Level (1) and closes a 4-hour candle below it, this suggests it could reach around 18,747 . To confirm an downward , the price needs to reach this level before moving on to support Level (3) at 18,337 .
Resistance Level (1): As long as the price remains above the turning level of 19,600 , it suggests a rising towards 20,234 . If the price reaches this level and stabilizing above it, it will likely attempt to reach resistance Level (2).
Resistance Level (2): When the price breaks through resistance level (1) and closes a 4-hour candle above it, this suggests it could reach around 20,553 . To confirm an uptrend , the price needs to reach this level before climb on to resistance Level (3) at 20,793 .
Channel Trend: breakout descending channel .
TARGET LEVEL :
RESISTANCE LEVEL : 20,234 , 20,553 , 20,793 .
SUPPORT LEVEL : 19,188,18,747 , 18,337 .
PEPEUSD / UNDER UPWARD PRESSURE - 4H PEPEUSD - 4H TIME FRAME
HELLO TRADER S
Tendency , prices is under upward pressure , until trading above turning level at 0.000007
Upward Condition : The price is currently showing bullish momentum. As long as it stays above the turning level of 0.000007 , it is likely to move upward toward the resistance levels at 0.000008 and then 0.000009 .
Downward Condition : To reach the 0.000006 support level (1) , the price needs to first break the turning level by closing a 4-hour candle below 0.000007 . If it stabilizes below support level (1) , a further decline toward the support level (2) at 0.000005 can be anticipated .
TARGET UPWARD ZONE :
RESISTANCE LEVEL (1) : 0.000008 .
RESISTANCE LEVEL (2) : 0.000009 .
TARGET DOWNWARD ZONE :
SUPPORT LEVEL (1) : 0.000006 .
SUPPORT LEVEL (2) : 0.000005 .
TURNING LEVEL : 0.000007 .
BCHUSD / INSIDE ACCOMULATION ZONE - 4HBCHUSD - 4H TIME FRAME
HELLO TRADERS
Tendency , prices is under upward pressure , until trading above turning level at 322.79
Upward Condition : If the price remains stable at the turning level at 322.79 , it is expected to rise toward the resistance level of 355.50 . Should it hold above this level, a tend to further rise to reach resistance level at 400.97 .
Downward Condition : To reach the289.29 support level (1) , the price needs to first break the turning level by closing a 4-hour candle below 322.797 . If it stabilizes below support level (1) , a further decline toward the support level (2) at 264.16 can be anticipated .
TARGET UPWARD ZONE :
RESISTANCE LEVEL (1) : 355.50 .
RESISTANCE LEVEL (2) : 400.97 .
TARGET DOWNWARD ZONE :
SUPPORT LEVEL (1) : 289.29 .
SUPPORT LEVEL (2) : 264.16 .
TURNING LEVEL : 322.79 .
XAGUSD / GENERALLY PRICES UNDER BULLISH PRESSURE - 4HXAGUSD
HELLO TRADERS
Tendency , the price is under bullish pressure , until trading above turning level at 28.58 .
Turning Level: The price is currently trading above this level around 28.58 . As long as it remains stable and stays above this level, a rising toward the resistance level (1) is likely . However, if the price breaks under this level and a 4-hour candle closes below it, an downward move toward the support level (1) can be expected.
support Level (1) : around 27.80 , The price is currently above turning level . To reach this level, the price needs to break and close a four-hour candle below the turning level at 28.58 . If the price reaches 27.80 , and stabilizes below it, it will likely attempt to reach support level (2) .
support Level (2): When the price breaks through support Level (1) and closes a 4-hour candle below it, this suggests it could reach around 27.08 . To confirm an downward , the price needs to reach this level before moving on to support Level (3) at 26.44 .
Resistance Level (1): As long as the price remains above the turning level of 28.58 , it suggests a rising towards 29.56 . If the price reaches this level and stabilizing above it, it will likely attempt to reach resistance Level (2).
Resistance Level (2): When the price breaks through resistance level (1) and closes a 4-hour candle above it, this suggests it could reach around 30.75 . To confirm an uptrend , the price needs to reach this level before climb on to resistance Level (3) at 31.64 .
Channel Trend: the prices trading rate within the descending channel .
TARGET LEVEL :
RESISTANCE LEVEL : 29.56 , 30.75 , 31.64 .
SUPPORT LEVEL : 27.80 , 27.08 , 26.44 .
BITCOIN / UNDER BULLISH PRESURE - 4HBITCOIN
HELLO TRADERS
Tendency , the price is under bullish pressure , until trading above turning level at 55,101 .
Turning Level: The price is currently trading above this level around 55,101 . As long as it remains stable and stays above this level, a rising toward the resistance level (1) is likely . However, if the price breaks under this level and a 4-hour candle closes below it, an downward move toward the support level (1) can be expected.
support Level (1) : around 51,322 , The price is currently above turning level . To reach this level, the price needs to break and close a four-hour candle below the turning level at 55,101 . If the price reaches 51,322 , and stabilizes below it, it will likely attempt to reach support level (2) .
support Level (2): When the price breaks through support Level (1) and closes a 4-hour candle below it, this suggests it could reach around 47,703 . To confirm an downward , the price needs to reach this level before moving on to support Level (3) at 44,845 .
Resistance Level (1): As long as the price remains above the turning level of 55,101 , it suggests a rising towards 61,267 . If the price reaches this level and stabilizing above it, it will likely attempt to reach resistance Level (2).
Resistance Level (2): When the price breaks through resistance level (1) and closes a 4-hour candle above it, this suggests it could reach around 65,742 . To confirm an uptrend , the price needs to reach this level before climb on to resistance Level (3) at 69,670 .
Channel Trend: the trading rate within the descending channel .
TARGET LEVEL :
RESISTANCE LEVEL : 61,267 , 65,742 , 69,670 .
SUPPORT LEVEL : 51,322 , 47,703, 44,845 .
NAS100USD ( TRADING BELLOW TURNING LEVEL ) ( 4H )NAS100USD
Yesterday, we reached our target of +450 pips. The current price is trading below the turning level at 19,547. As long as it remains below this level, it’s likely to continue declining towards the first support level.
Tendency , the price is under bearish pressure , until trading below turning level at 19,547 .
Turning Level: The price is currently trading below this level around 19,547 . As long as it remains stable and stays below this level, a drop toward the support level is likely . However, if the price breaks above this level and a 4-hour candle closes above it, an upward move toward the resistance level can be expected.
Resistance Level (1): around 20,080 , The price is currently below turning level . To reach this level, the price needs to break and close a four-hour candle above the turning level at 19,547. If the price reaches 20,080 , and stabilizes above it, it will likely attempt to reach resistance level (2) .
Resistance Level (2): When the price breaks through Resistance Level (1) and closes a 4-hour candle above it, this suggests it could reach around 20,538 . To confirm an uptrend, the price needs to reach this level before moving on to Resistance Level (3) at 20,969 .
Support Level (1): As long as the price remains below the turning point of 19,547, it suggests a drop towards 19,115 . If the price reaches this level and stabilizing below it, it will likely attempt to reach Support Level (2).
Support Level (2): When the price breaks through support level(1)and closes a 4-hour candle below it, this suggests it could reach around 18,696 . To confirm a downtrend , the price needs to reach this level before decline on to support Level (3 )at 18,315 .
Channel Trend: the trading rate within the ascending channel.
TARGET LEVEL :
RESISTANCE LEVEL : 20,080 ,20,538 , 20,969 .
SUPPORT LEVEL : 19,547 , 18,696 , 18,315 .
Time Frame : 4H
SNXUSDT ( INSIDE ACCOMULATION ZONE ) ( 4H )SNXUSDT
HELLO TRADERS
Tendency , the price is under bearish pressure , until trading below turning level at 1.395 .
Turning Level: The price is currently trading below this level around 1.395 . As long as it remains stable and stays below this level, a drop toward the support level (1) is likely . However, if the price breaks above this level and a 4-hour candle closes above it, an upward move toward the resistance level (1) can be expected.
Resistance Level (1): around 1.530 , The price is currently below turning level . To reach this level, the price needs to break and close a four-hour candle above the turning level at 1.395. If the price reaches 1.530 , and stabilizes above it, it will likely attempt to reach resistance level (2) .
Resistance Level (2): When the price breaks through Resistance Level (1) and closes a 4-hour candle above it, this suggests it could reach around 1.658 . To confirm an uptrend, the price needs to reach this level before moving on to Resistance Level (3) at 1.829 .
Support Level (1): As long as the price remains below the turning level of 1.395, it suggests a drop towards 1.226 . If the price reaches this level and stabilizing below it, it will likely attempt to reach Support Level (2).
Support Level (2): When the price breaks through support level(1)and closes a 4-hour candle below it, this suggests it could reach around 1.115 . To confirm a downtrend , the price needs to reach this level before decline on to support Level (3 )at 1.005 .
Channel Trend: the trading rate within the descending channel .
TARGET LEVEL :
RESISTANCE LEVEL : 1.530 ,1.658 ,1.820 .
SUPPORT LEVEL : 1.226 , 1.115 , 1.005 .
BCHUSD ( UNDER DOWNWARD PRESSURE ) ( 4H )BCHUSD
HELLO TRADERS
Tendency , the price is under bearish pressure , until trading below turning level at 342.80 .
Turning Level: The price is currently trading below this level around 342.80 . As long as it remains stable and stays below this level, a drop toward the support level (1) is likely . However, if the price breaks above this level and a 4-hour candle closes above it, an upward move toward the resistance level (1) can be expected.
Resistance Level (1): around 371.54, The price is currently below turning level . To reach this level, the price needs to break and close a four-hour candle above the turning level at 342.80 . If the price reaches 371.54, and stabilizes above it, it will likely attempt to reach resistance level (2) .
Resistance Level (2): When the price breaks through Resistance Level (1) and closes a 4-hour candle above it, this suggests it could reach around 402.00 . To confirm an uptrend, the price needs to reach this level before moving on to Resistance Level (3) at 448.76 .
Support Level (1): As long as the price remains below the turning level of 342.80, it suggests a drop towards 309.33 . If the price reaches this level and stabilizing below it, it will likely attempt to reach Support Level (2).
Support Level (2): When the price breaks through support level(1)and closes a 4-hour candle below it, this suggests it could reach around 285.31 . To confirm a downtrend , the price needs to reach this level before decline on to support Level (3) at 250.56 .
Channel Trend: the trading rate within the ascending channel .
TARGET LEVEL :
RESISTANCE LEVEL : 371.54 , 402.00 , 448.76 .
SUPPORT LEVEL : 309.33 , 285.31 , 250.56 .
GBPUSD ( UNDER BEARISH PRESSURE ) ( 4H )GBPUSD
HELLO TRADERS
Tendency , the price is under bearish pressure , until trading below turning level at 1.293 .
Turning Level: The price is currently trading below this level around 1.293 . As long as it remains stable and stays below this level, a drop toward the support level (1) is likely . However, if the price breaks above this level and a 4-hour candle closes above it, an upward move toward the resistance level (1) can be expected.
Resistance Level (1): around 1.298 , The price is currently below turning level . To reach this level, the price needs to break and close a four-hour candle above the turning level at 1.293. If the price reaches 1.298 , and stabilizes above it, it will likely attempt to reach resistance level (2) .
Resistance Level (2): When the price breaks through Resistance Level (1) and closes a 4-hour candle above it, this suggests it could reach around 1.303 . To confirm an uptrend, the price needs to reach this level before moving on to Resistance Level (3) at 1.309 .
Support Level (1): As long as the price remains below the turning level of 1.293, it suggests a drop towards 1.283 . If the price reaches this level and stabilizing below it, it will likely attempt to reach Support Level (2).
Support Level (2): When the price breaks through support level(1)and closes a 4-hour candle below it, this suggests it could reach around 1.275 . To confirm a downtrend , the price needs to reach this level before decline on to support Level (3 )at 1.268 .
Channel Trend: the trading rate within the ascending channel.
TARGET LEVEL :
RESISTANCE LEVEL : 1.298 ,1.303 ,1.309 .
SUPPORT LEVEL : 1.283 , 1.275 , 1.268 .
US30 ( TRADING BELOW RESISTANCE TRENDLINE ) ( 4H )US30
HELLO TRADERS
Tendency , the price is under bearish pressure , until trading below resistance trendline .
Turning Level: The price is currently trading below this level around 40,671 . As long as it remains stable and stays below this level, a drop toward the support level is likely . However, if the price breaks above this level and a 4-hour candle closes above it, an upward move toward the resistance level can be expected.
Resistance Level (1): around 41,016 , The price is currently below turning level . To reach this level, the price needs to break and close a four-hour candle above the turning level at 40,671. If the price reaches 41,016 , and stabilizes above it, it will likely attempt to reach resistance level (2) .
Resistance Level (2): When the price breaks through Resistance Level (1) and closes a 4-hour candle above it, this suggests it could reach around 41,348 . To confirm an uptrend, the price needs to reach this level before moving on to Resistance Level (3) at 41,718 .
Support Level (1): As long as the price remains below the turning level of 40,671, it suggests a drop towards 40,208 . If the price reaches this level and stabilizing below it, it will likely attempt to reach Support Level (2).
Support Level (2): When the price breaks through support level(1)and closes a 4-hour candle below it, this suggests it could reach around 39,932 . To confirm a downtrend , the price needs to reach this level before decline on to support Level (3 )at 39,606 .
Channel Trend: the trading rate within the ascending channel.
TARGET LEVEL :
RESISTANCE LEVEL : 41,016 ,41,348 , 41,718.
SUPPORT LEVEL : 40,208 , 39,932 , 39,606 .
Time Frame : 4H
GOLD ROUTE MAP UPDATEHey Everyone,
Another great day on the charts today with our plans to buy dips playing out perfectly.
After completing our targets yesterday, we stated that no cross and lock above 2475 confirmed the rejection, which followed with the drop into the lower Goldturns for support bounces. We also stated that we are now back in the range and therefore levels are active again to track the movement up.
We got the drop into 2434 weighted Goldturn, which provided the support for the bounce now into 2459 weighted level. We will now need to see ema5 cross and lock above 2459 to open 2475 once again. Failure to cross and lock above 2459 will follow with a rejection to find support at the lower Goldturns track the movement level to level again.
We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up.
We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGET
2434 - DONE
EMA5 CROSS AND LOCK ABOVE 2434 WILL OPEN THE FOLLOWING BULLISH TARGET
2446 - DONE
2459 - DONE
EMA5 CROSS AND LOCK ABOVE 2459 WILL OPEN THE FOLLOWING BULLISH TARGET
2475 - DONE
BEARISH TARGETS
2421
EMA5 CROSS AND LOCK BELOW 2421 WILL OPEN THE FOLLOWING BEARISH TARGET
2408
2396
EMA5 CROSS AND LOCK BELOW 2396 WILL OPEN THE SWING RANGE
SWING RANGE
2380 - 2360
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
EURUSD ( TRADING INSIDE DESCENDING CHANNEL ) ( UNDER CPI ) (4H)EURUSD
HELLO TRADERS
currently of the price trading inside descending channel and stabilizing below turning level , today at 3.30 we have a CPI news that has a huge impact on market movements .
Tendency , the price is under bearish pressure , until trading below turning level around 1.101 .
Upward Zone : for an upward movement to occur , the price needs to break through the turning level at 1.101 , leading to rise that could reach the resistance level (1) at 1.105 , if the price breaks and stabilizing above this level it may attempt to reach resistance zone between 1.109 and 1.113 .
Downward Zone: as long as the price remain below the turning level at 1.094 , it may drop towards the support level (1) at 1.094 , if the price breaks this level with a 4h candle closing below it , it suggest further decline towards the support zone between 1.088 and 1.084 .
CORRECTIVE : currently price it will be attempt to retest to reach a turning level at 1.101before dropping .
TARGET LEVEL :
RESISTANCE LEVEL : 1.105 ,1.109 , 1.113 .
SUPPORT LEVEL : 1.094 , 1.088 , 1.084 .
EUR/USD Trade Setup 1-Hour TimeframeLast week, we anticipated EUR/USD would reach the major supply zone, but instead, the price formed a new, minor supply zone. This was followed by a doji and a close below candlestick pattern, providing a solid confirmation from the minor supply level.
The trade was executed based on this candlestick confirmation at that level.
Now, we wait.
Remember, once you have full confirmation on a trade, don’t overthink execute the trade and stay patient.
GOLD 4H CHART ROUTE MAP & TRADING PLAN FOR THE WEEK Hey Everyone,
Please see our updated 1h chart levels and targets for the coming week.
We are seeing price between two weighted levels. We have 2438 Goldturn resistance and 2416, as Goldturn support.
We currently have a gap open above at 2438 and below at 2416 and will need ema5 cross and lock on either weighted level to determine the next range.
We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for the next range.
We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up.
We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGET
2438
EMA5 CROSS AND LOCK ABOVE 2438 WILL OPEN THE FOLLOWING BULLISH TARGET
2467
BEARISH TARGETS
2416
EMA5 CROSS AND LOCK BELOW 2416 WILL OPEN THE FOLLOWING BEARISH TARGET
2389
EMA5 CROSS AND LOCK BELOW 2389 WILL OPEN THE SWING RANGE
SWING RANGE
2369 - 2345
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
DAILY CHART UPDATEHey Everyone,
Please see update on our daily chart structure that we have been tracking and trading successfully for a while now.
Previously we had 2355 retracement range providing support and the re-actional bounce, as analysed and we stated that we will either look for a ema5 lock below this level to open the range below or a failure to lock below this level will follow with the upper range tests again.
This played out perfectly with no cross and lock below 2355 and therefore we got the perfect bounce re-testing all the targets above.
Prior to last week we also got the ema5 cross and lock above 2405 opening 2464 once again, which was hit once completing the gap again.
Currently we have a ema5 cross and lock gap below at 2355 and then a new turn created a current ema5 cross and lock above 2405 opening 2464 again. We now have gaps both ways and need to keep this in mind when planning to buy dips.
We will use our smaller timeframe analysis and trading plans to navigate the range in true level to level fashion.
Our long term bias is Bullish and therefore we will continue to use our smaller timeframes to buy dips using our levels and setups.
Buying dips allows us to safely manage any swings rather then chasing the bull from the top.
Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
75: Comprehensive Guide to Volume Profiles and Volume in TradingWhat is a Volume Profile?
A Volume Profile is an advanced charting tool that plots the amount of trading activity (volume) across different price levels over a specific period. Unlike traditional volume indicators that only show volume over time, Volume Profiles provide insights into where the majority of trading took place, highlighting key areas of support and resistance, as well as zones of high and low interest among traders.
Key Components of Volume Profiles:
1. Point of Control (POC) : This is the price level where the highest volume of trades occurred. The POC is a crucial level because it represents the price at which traders found the most value, making it a strong indicator of support or resistance.
2. Value Area (VA) : The Value Area represents the range of prices where approximately 70% of the volume was traded. This area is divided into the Value Area High (VAH) and Value Area Low (VAL). The VA is significant because it identifies the zone where most market participants were active, providing a clear picture of market consensus on value.
3. High Volume Nodes (HVN) and Low Volume Nodes (LVN) : HVNs are price levels where there was a large amount of trading activity, indicating significant interest and often serving as strong support or resistance levels. LVNs, on the other hand, represent areas with minimal trading activity, where prices tend to move quickly due to the lack of interest.
The Importance of Volume in Trading
Volume is a fundamental aspect of market analysis, offering insights into the strength and sustainability of price movements. It reflects the level of participation in a market, indicating the intensity of buying or selling at different price levels.
- Confirmation of Price Movements : High volume confirms the legitimacy of a price move. For example, a price breakout from a resistance level on high volume is more likely to be sustained than one on low volume.
- Reversals and Continuations : Spikes in volume can signal potential reversals, especially when occurring at significant price levels such as the POC or near the VA boundaries. Conversely, a sustained high volume along a trend can indicate its continuation.
- Validation of Support and Resistance : Volume at key levels like the POC, VAH, and VAL helps validate these areas as strong support or resistance. When price interacts with these levels on high volume, it suggests that many market participants are active, reinforcing the importance of these price levels.
How to Interpret and Use Volume Profiles:
1. Identifying Key Price Levels :
- The POC acts as a magnet for price, often drawing the price back to it when it moves away. This level is crucial for identifying potential areas of reversal or consolidation.
- The Value Area is where the majority of the trading activity occurs. Prices above the VAH might indicate an overbought condition, while prices below the VAL could suggest an oversold market.
2. Volume and Market Sentiment :
- High Volume Nodes indicate areas of significant interest, where prices tend to stabilize due to heavy trading. These areas often become zones of accumulation or distribution, depending on market conditions.
- Low Volume Nodes indicate price levels with minimal trading interest, where prices may move quickly and encounter less resistance, often leading to rapid price changes or breakouts.
3. Order Flow and Large Volume Blocks :
- Large blocks of volume, particularly at HVNs, suggest the presence of institutional traders or significant market participants placing large orders. These zones are critical because they reflect where big players are accumulating or distributing their positions. As a result, these areas tend to create strong support or resistance levels that can define future market behavior.
4. Dynamic vs. Static Profiles :
- Volume Profile Visible Range (VPVR): This type of profile updates as you scroll through your chart, dynamically showing the volume distribution for the visible price range. It’s useful for analyzing the current market context and finding immediate trading opportunities.
- Fixed Range Volume Profile (FRVP): This profile is static, showing volume data for a specified price range or time period. It’s valuable for comparing current price action to historical data, helping identify long-term support and resistance levels.
Practical Tips for Using Volume Profiles :
1. Customization and Settings :
- Adjust the number of rows or ticks per row in your Volume Profile settings to get a more detailed or broader view of volume distribution. More rows will give you finer detail, while fewer rows will smooth out the data, highlighting major trends.
2. Combining with Other Indicators :
- Use Volume Profiles in conjunction with other technical indicators like moving averages, RSI, or MACD to confirm trading signals and enhance the reliability of your analysis.
3. Adapting to Different Timeframes :
- Tailor your Volume Profile analysis to your trading style. For day traders, shorter timeframes (e.g., 5, 15, 30 minutes) might be more relevant, while swing traders or investors might focus on daily, weekly, or even monthly profiles to identify long-term trends and key levels.
4. Observing Market Reactions at Key Levels :
- Pay close attention to how the market reacts when it approaches HVNs, LVNs, the POC, or the boundaries of the Value Area. These reactions can provide clues about future price movements and potential trading opportunities.
Volume Profiles offer a deep and nuanced view of market behavior by highlighting where significant trading activity has occurred at different price levels. By understanding the interaction between volume and price, traders can make more informed decisions, identify key levels for entry and exit, and gain insights into market sentiment. Integrating Volume Profile analysis into your trading strategy can provide a significant edge, enhancing your ability to navigate the complexities of financial markets.