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Trading Plan for Friday, April 19th, 2024Trading Plan for Friday, April 19th, 2024 Market Sentiment: Uncertain, with bulls and bears battling at the critical 5045 support zone . A decisive break in either direction will set the tone for the next market move. Key Supports Immediate Supports: 5044-46 (major), 5039, 5033 Major Supports: 5020, 5013 (major), 5000, 4990-95 (major), 4959 (major), 4937 (major) Key Resistances Near-term Resistance: 5054 (major), 5066, 5077-5082 (major) Major Resistances: 5112-5115 (major), 5150-55 (major), 5177-80 (major), 5203 (major) Trading Strategy Focus on the 5045 Zone: This zone has become a battleground. Observe closely for breakouts or breakdowns, as these will trigger the next directional move. Long Opportunities: Due to the choppy nature of the 5045 zone, direct bids are less reliable. Consider bids with a failed breakdown at 5039 or only at major support levels, particularly 5013 and 4990-95. Prioritize the knife-catch protocol for deeper longs. Short Opportunities: Look for backtests of the 5077-82 zone, or more reliable setups at 5112-5115 and 5150-55 for shorts. A breakdown below 5039 offers short potential, targeting 5013. Profit-Taking: On shorts, consider taking profits entirely at major levels, especially given ES's tendency to short squeeze. Bull Case Holding Support: Bulls need to defend the 5045 zone to maintain control. Relief Bounce: If 5045 holds, a bounce to 5082 and potentially 5112-15 is possible, with further upside potential to 5150-55 if momentum is sustained. Adding on Strength: Breaks and acceptance above 5054/5060 could offer opportunities for adding to long positions. Bear Case Breakdown Signals: A convincing break below 5039 triggers the downside move, likely heading towards 5013 and potentially 5000. As always, be wary of traps – look for a bounce/failed breakdown first, then consider shorting. News: Top Stories for April 19th, 2024 Economic Environment Inflation remains a factor despite a decline. Corporate profits show resilience. Potential for a record-breaking expansion cycle in the US. Uncertainty surrounding persistent inflation or negative economic news. Reminder: The market is reacting to the battle at the 5045 level. Prioritize risk management and adapt your trading strategy accordingly.
CME_MINI:ESM2024Long
by spytradingpro
GOLD - where is gold current support? Holding or not?#GOLD... So guys according to our today video analysis market very well hold his first area below 2367 that was 2354 55. Now market have a region in chart means on hour chart. That is start from 2367 to 2374 Means 5 to 7 points region, That will be your most important region for further move to anyside, If market hold it then a further bounce expected from here otherwise not at all. In simple and short words, it's buying season, war season etc. You should stay focused on every immediate support only.. And don't plan for a short until market hold your current support. Good luck Trade wisely
FX:XAUUSD
by AdilHussain731333
1
BTCUSDT - just trade below resistance, high placed?#BTCUSDT.. guys no doubt BTC is very volatile now a days, But 64800 to 65000 below it's looking very vulnerable, I think if there is any kind of buying volume then it should trade above at least above 64800 or 64K But he is still trade under that level, So if market hold that area then you should mentally prepared for a drop from here, Only selling will be invalid above 65K otherwise not. Stay sharp .. Good luck trade wisely
BITSTAMP:BTCUSD
by AdilHussain731333
Trading Plan for Thursday, April 18th, 2024Trading Plan for Thursday, April 18th, 2024 Market Sentiment: Mixed, with traders weighing the implications of inflation, economic signals, and potential shifts in Federal Reserve policy. Key Supports Immediate Supports: 5066, 5060, 5054 Major Supports: 5045-47 (major), 5038, 5000-5005 (major), 4990, 4966, 4932-36 (major) Key Resistances Near-term Resistance: 5082-77 (major), 5090, 5103 (major), 5115-5120 (major) Major Resistances: 5148-50 (major), 5170-75 (major), 5191, 5224, 5287 (major) Trading Strategy Focus on Key Levels: The market is sandwiched between critical support at 5045-47 and resistance at 5082-77. Breakouts in either direction will determine the next directional move. Long Opportunities: Look for bids at 5045-47 with failed breakdowns, or at major supports (5000-5005 if reached). Prioritize knife-catch protocol for deeper longs. Short Opportunities: Consider shorts on backtests of the 5082-77 zone, 5115-20, or 5148-50. A failure of 5045-47 opens the downside, with potential shorts below 5037. Profit-Taking: On shorts, consider taking profits entirely at major levels, especially given ES's tendency to short squeeze. Bull Case Reclaiming Resistances: Bulls need to reclaim 5077-82 for a strong signal, then potentially 5115-20. Holding Support: Continued defense of the 5045-47 trendline is encouraging for bulls. Re-tests and quick recoveries signal buying strength. Adding on Strength: Breaks and acceptance above 5077-82 could offer opportunities for adding to long positions. Bear Case Breakdown Signals: A convincing break below 5045-47 triggers the downside move, likely heading towards 5000. As always, be wary of traps – look for a bounce/failed breakdown first, then consider shorting. News: Top Stories for April 18th, 2024 Economic Environment Inflation declines but remains a factor in market analysis. Corporate profits show resilience. Potential for a record-breaking expansion cycle in the US. Uncertainty surrounding persistent inflation or negative economic news. Global Markets IMF Global Financial Stability Report discusses market optimism and expected policy easing. Reminder: The market is reacting to key levels and economic data. Prioritize risk management and adapt your trading strategy accordingly.
CME_MINI:ESM2024Long
by spytradingpro
Trading Plan for Wednesday, April 17th, 2024Trading Plan for Wednesday, April 17th, 2024 Market Sentiment: Uncertain, as investors digest comments from Federal Reserve Chair Jerome Powell and assess their implications on the timing of potential rate cuts. Key Supports Immediate Supports: 5091, 5082 (major), 5076, 5068 (major) Major Supports: 5046-51 (major), 5038 (major), 4996-5000 (major) Key Resistances Near-term Resistance: 5097 (major), 5108 (major), 5115, 5126-29 (major), 5155 (major) Major Resistances: 5171 (major), 5188-90 (major), 5225-30 (major), 5280-83 (major) Trading Strategy Monitoring Fed Commentary: Stay updated on further statements from Federal Reserve officials as they will influence market direction. Range-Bound Trading: The 5082-5115 zone remains a choppy range. Focus on failed breakdowns within this zone, or holding position runners. Long Opportunities: Look for bids at 5091 (after multiple successful tests), reclaims of 5082, or failed breakdowns at 5076. Knife-catch protocol applies for any deeper longs, particularly at 5046-51. Short Opportunities: Consider shorts if backtesting breakdown zones like 5126-29, 5155, or 5171. Prioritize a failure of 5082 on the short side. Profit-Taking: On shorts, consider taking profits entirely at major levels, especially given ES's tendency to short squeeze. Bull Case Reclaims are Key: Bulls need to reclaim breakdown zones, starting with 5126-29, then 5171 to signal a potential short-term bottom. Holding Support: A sustained hold of 5082 could lead to a bounce and backtests of the resistances listed above. Adding on Strength: Breaks above 5108 after acceptance suggest potential for more upside. Bear Case Breakdown Signals: Bears maintain short-term control until bulls can reclaim key levels discussed above. A failure of 5082 is a warning, with shorts below 5068 targeting 5046-51 (where runners would likely be exited). As always, be wary of traps – look for a bounce/failed breakdown first. News: Top Stories for April 17th, 2024 Federal Reserve Focus Jerome Powell's comments emphasize that inflation remains above the Fed's target, hinting at a delay in interest rate cuts. Investor expectations for rate cuts have been adjusted, with a maximum of three cuts now anticipated, starting in June at the earliest. Market Performance & Sectors S&P 500 hits new all-time highs but experiences volatility following Federal Reserve commentary. Technology stocks, especially those in the AI sector, continue to outperform. Communication services and energy sectors receive a high percentage of analyst buy ratings. Earnings & Corporate News Big banks kick off the earnings season, providing insights into the financial sector's health. United Airlines faces aircraft delivery delays and adjusts its strategy. International Economic & Monetary Policies President Biden's proposed tariffs on Chinese steel aim to protect domestic industry. ECB plans for near-term rate cuts raise questions about the European economic outlook. Additional Market Updates Cryptocurrency market dynamics, including Bitcoin halving cycles. Geopolitical tensions between Israel and Iran and their potential economic implications. Chinese economic growth. Housing market trends and government tax policies in Canada. Reminder: The market is reacting to Federal Reserve commentary. Prioritize risk management and adapt your trading strategy accordingly.
CME_MINI:ESM2024Long
by spytradingpro
Short-term DXY Analysis: Navigating a Diamond Bottom 📈💎Short-term DXY Analysis: Navigating a Diamond Bottom 📈💎 The US Dollar Index (DXY) is a critical indicator for currency traders, reflecting the strength of the USD against a basket of major currencies. As of mid-April 2024, here's a concise analysis based on the current market scenario, recent technical patterns observed, and economic events: Diamond Bottom Formation 💠 The DXY chart suggests the formation of a 'diamond bottom,' typically a bullish reversal pattern that occurs after a price drop. This pattern suggests potential for a reversal of the preceding downtrend, indicating that buyers might be gaining ground. Current Economic Backdrop 🌐 With geopolitical tensions and hawkish tones from central banks, particularly the Federal Reserve, there is a noted increase in the DXY. Hawkishness from the Fed Chair Powell indicates that rate cuts may not be imminent, reinforcing the USD’s strength. Technical Levels to Watch 🧐 Resistance Levels: The DXY faces immediate resistance at the 105.38/63 zone. A decisive break above could push it towards 106.57, with 107.17/20 as the next target for bulls. Support Levels: Initial support lies at the lower parallel/78.6% retracement of the yearly range at 104.53, followed by 104.23. A break below these levels could lead to a correction towards 103.47/49. Market Sentiment 📊 Market sentiment shows mixed positions among traders in commodities like gold and currencies like EUR/USD, with many investors likely leaning towards safer assets amid uncertainty. Possible Triggers 🔔 Central Bank Policies: USD bulls are currently facing headwinds from the Fed's stance and upcoming rate decisions. Global Market Dynamics: Rising geopolitical tensions and market volatility could increase the allure of the USD as a safe-haven asset. Conclusion: USD's Path Ahead In the short term, the DXY's outlook hinges on whether support levels hold post-FOMC decisions and broader market sentiment. If geopolitical situations exacerbate or central banks adopt more hawkish policies, the DXY could see further upside. Conversely, a break below key support levels could signal a shift in trend. The situation calls for vigilant monitoring of upcoming economic releases and central bank activities. 🔍 Please Note: This analysis does not constitute financial advice. Investors should conduct their own research or consult a financial advisor before making any investment decisions. #MarketAnalysis #TradingView #TechnicalAnalysis #DXY #USDDominance #Forex #Commodities #Gold #SafeHaven #EconomicIndicators #InterestRates #FederalReserve #Inflation #CurrencyTrading #Investing #StockMarket #Bonds #ETFs #Cryptocurrency #BearMarket #BullMarket #PriceAction #ChartPatterns #DiamondBottom #MarketSentiment
TVC:DXYLong
by Shibunacci
Trading Plan for Tuesday, April 16th, 2024Trading Plan for Tuesday, April 16th, 2024 Market Sentiment: Uncertain, with geopolitical headlines and market volatility remaining dominant factors. Key Supports Immediate Supports: 5102-05 (major), 5092 (major), 5079 Major Supports: 5067 (major), 5050-52 (major), 5039 (major), 5000 (major) Key Resistances Near-term Resistance: 5115, 5126 (major), 5136-39 (major), 5163-67 (major). Major Resistances: 5178-80 (major), 5195, 5205-07 (major), 5222 (major) Trading Strategy Geopolitical Risk: Continue to monitor headlines related to the Iran/Israel situation for potential market impacts. Adaptability: Be prepared for rapid changes in market direction and prioritize risk management. Long Opportunities: Focus on potential longs above 5102-05 after failed breakdowns at 5092. Consider a test and reclaim of 5115 for an entry if the move is direct. Knife-catch protocol applies for longs at 5048-52 if those are reached. Short Opportunities: Look for backtests of breakdown levels. 5136-39 and 5163-67 are key areas for potential shorts. Profit-Taking: On shorts, consider taking profits entirely at major levels, especially given ES's tendency to short squeeze. Bull Case Reclaims are Key: Bulls need to reclaim breakdown zones, starting with 5136, then 5163-67 to set a potential bottom. Bear Case Breakdown Signals: Bears maintain control until bulls can reclaim key levels discussed above. A failure of 5092 triggers the next downside leg. As always, be wary of traps – look for a bounce/failed breakdown first, then consider shorting at 5088, targeting 5052 for complete profit-taking, or level-to-level profit-takes on the way. News: Top Stories for April 16th, 2024 Geopolitical Crisis: The escalating tensions between Iran and Israel continue to dominate headlines and drive market uncertainty. Economic Outlook IMF World Economic Outlook: Projections for slower global growth with inflation expected to decrease. US Labor Market: Focus on the impact of an aging workforce and the potential counter to early retirement trends. Inflation & Fed Rates CPI report signals persistent inflation, raising concerns about delayed Fed rate cuts. Treasury yields react to inflation data. Corporate & Market News Tesla faces skepticism about self-driving capabilities and a new round of layoffs. Market performance analysis: Tech stocks lead gains, bond market reacts to rate concerns. Real estate market sends mixed signals across different geographies. Investment Outlooks Financial institutions provide a range of outlook reports with varying predictions. Cryptocurrency: Ether and Bitcoin ETFs perform well, prominent investors weigh in. Reminder: The geopolitical situation remains a major wildcard. Be cautious, prioritize risk management, and be prepared to adjust your trading strategy quickly.
CME_MINI:ESM2024Short
by spytradingpro
Trading Plan for Monday, April 15th, 2024Trading Plan for Monday, April 15th, 2024 Market Sentiment: Highly uncertain due to major geopolitical headline risk over the weekend. Expect significant volatility and potential for large gaps up or down at the Sunday open. Important Note: The escalating tension between Iran and Israel has the potential to cause significant market disruptions. BE PREPARED for a wide range of outcomes, substantial gaps on the open, and rapidly changing market conditions. Key Supports Immediate Supports: 5163 (major), 5155, 5142, 5134-36 (major), 5126 (major) Major Supports: 5120, 5115, 5108, 5102-5097 (major), 5091, 5082 (major) Key Resistances Near-term Resistance: 5177 (major), 5185, 5192-95 (major), 5203 (major) Major Resistances: 5218 (major), 5228-30 (major), 5245 (major), 5262 Trading Strategy Weekend Headlines: Be prepared for anything related to the Iran/Israel situation. This news will dominate market reaction. Adaptability is Key: Market conditions could change rapidly, prioritize flexibility and risk management. Sunday Open: Focus on how the market opens and reacts to the news. Large gaps are possible in either direction. Long Opportunities: Due to the high risk, only consider longs after the initial reaction and if a stable support zone forms. Potential bids at 5163, reclaiming 5155, or (depending on the open) reclaiming 5177. Emphasis on failed breakdowns. Short Opportunities: Look for backtests of any breakdown levels if a strong sell-off occurs. Potentially 5177, 5219, or 5228 if those levels are reached. Knife-Catch Mode: If necessary, use the knife-catch protocol for longs, with small size and emphasis on failed-breakdowns. Bull Case De-escalation: A move towards de-escalation or resolution of the Iran situation could lead to a sharp rebound. Reclaiming 5177: If 5177 is reclaimed with acceptance above, bulls may drive a recovery towards targets of 5195, 5202, 5219. Bear Case Escalation of Conflict: Continued escalation of tensions could lead to a significant market sell-off. Breakdown of 5163: A failure of 5163 opens up downside targets. Watch for a bounce/failed breakdown, then consider shorting for a move down the levels. News: Top Stories for April 15th, 2024 Geopolitical Crisis: Escalating tensions between Iran and Israel dominate headlines and overshadow all other news. Potential repercussions for the global economy, oil prices, and markets. Impact on Market Outlook: Uncertainty and volatility dominate the April outlook. Key economic dates and reports may be less impactful given the news focus. Earnings Reports: Earnings season continues, but market focus may be diverted by the geopolitical situation. Other Market and Economic News: Monitor secondary news sources for updates on the Iran/Israel situation and potential market impacts. Reminder: The weekend geopolitical developments introduce extreme uncertainty into the markets. Be cautious, prioritize risk management, and be prepared to quickly adapt your trading strategy.
CME_MINI:ESM2024Short
by spytradingpro