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Sorry, I've already started shorting goldAt present, gold has risen strongly to around 2689, and is only one step away from 2700. Although the gold market is hot at present, I do not advocate chasing gold now. To be honest, as long as gold remains above 2675, I will not advocate going long on gold. Now that gold is approaching 2700, it has basically reached the short-term expectations of bulls. Now that gold is approaching 2700, it has basically reached the short-term expectations of the bulls. Some of the profit-making chips may be cashed in for shipment. This is why I do not recommend chasing gold. In the short term, since gold rose near 2638, there has been basically no decent correction. So when facing the psychological pressure of 2700, gold is likely to have a round of correction, retesting the 2670-2665 area, and may even retest the 2660-2655 area. So, bros, while you are keen on chasing gold, I am now shorting gold in batches! Let us look forward to the next results!
OANDA:XAUUSDShort
by Trading-Hawkeye
$DOGS Trading Idea: Falling Wedge Breakout with Retest IncomingWe’ve just witnessed a classic breakout from a falling wedge pattern on BINANCE:DOGSUSDT . After an extended downtrend, marked by lower highs (LH) and lower lows (LL), the asset broke through the wedge resistance, signaling a potential bullish reversal. This pattern, known for its bullish nature, often indicates an upcoming shift in momentum from sellers to buyers. Key Levels & Strategy: Entry Point: The optimal entry for this trade would be around the 0.001030 area, which coincides with an order block (OB) just below the current price action. This level presents a good opportunity as we expect DOGSUSDT to retest this zone before making its move upwards. Stop Loss: For risk management, consider placing your stop loss slightly below the OB. There are two scenarios to accommodate different leverage profiles: High Leverage Traders: Use a stop around 0.001010 to manage the increased risk. Low Leverage Traders: A more conservative stop should be set around 0.000974 to allow room for volatility. Take Profits: Scaling out profits is key in volatile markets like DOGSUSDT. Here are the take profit (TP) levels: TP1: 0.001163, aligning with a strong resistance point. TP2: 0.001346, marking the next major liquidity zone. TP3: 0.001659, the upper target where DOGSUSDT could reach if bullish momentum sustains. Market Sentiment: The overall market structure has been shifting in favor of the bulls after several CHoCH (Change of Character) moments during the downtrend, hinting that bears are losing strength. The falling wedge breakout further supports the case for an upside movement. In such scenarios, patience is key as we wait for the retest of the OB and the market to confirm bullish momentum.
Long
by MadeByAK
2
Bitcoin Approaching Key Resistance—Watch for Breakout / PullbackSince the last analysis, Bitcoin has respected the Crucial Support Zones and is now approaching a pivotal point at the Descending Resistance trendline. We’ve seen a bounce off the support zones, particularly the 1W BISI, which has held firm, and the next move will be decisive as BTC approaches the U.S. Election timeline in early November. Key Developments: Bitcoin is approaching the Descending Resistance, with a potential breakout signaling a move towards 76K and beyond. The 1W BISI (one-week bullish imbalance support) has acted as a strong foundation for this current price action, making the upcoming resistance test a crucial moment. The RSI is sitting comfortably above 55, showing momentum building up in favor of the bulls. Strategy Update: Swing Traders: Look for confirmation of the breakout above the descending resistance. If price holds and closes above this level, a run toward 76K and 80K becomes highly probable. Scalpers: Stay cautious around the resistance zone. If Bitcoin fails to break out convincingly, a short-term pullback to retest the 1W BISI could provide shorting opportunities. Key Levels: Resistance: The Descending Resistance trendline is your key point for watching breakout potential. If BTC breaches this level, expect a rally to 72K and 74K. Support: The 1W BISI and Crucial Support Zone 1 (around 64K) will act as strong support levels in case of any short-term corrections. ------ This setup remains crucial as the U.S. Election date approaches, a point that may trigger increased volatility across markets. Keep your risk management tight and stay flexible as the market prepares for its next major move.
by MadeByAK
MNTUSDT on the Verge of a Major Breakout or Breakdown?Yello, Paradisers! Are you ready for a potential bullish breakout? 🧐 💎MNTUSDT has just broken through a critical resistance trendline and formed a textbook Cup & Handle pattern—a strong signal that a bullish reversal could be brewing. 💎If MNTUSDT breaks out and closes a candle above the resistance zone, it will confirm the pattern, increasing the probability of a strong bullish move. 💎Should we see a pullback, expect a bounce from the support zone. But remember, we need to see I-ChoCh confirmation to strengthen the odds in our favor. 💎On the flip side, if MNTUSDT breaks down and closes below the support zone, this would invalidate our bullish setup. In that case, patience is key—we’ll wait for a more favorable price action before making our next move. 🎖 Staying disciplined and waiting for the right confirmation is crucial for long-term success. Don’t chase trades—wait for high-probability setups to play out. MyCryptoParadise iFeel the success🌴
Long
by MyCryptoParadise
Price Action Trading Analysis: Chennai Petroleum Corp Ltd Price action trading is a method of technical analysis that relies on historical prices to predict future price movements. In this analysis, we'll focus on Chennai Petroleum Corp Ltd (CHENNPETRO) on the National Stock Exchange (NSE). The chart spans from October 2023 to October 2024, showcasing significant trends and potential trading opportunities. Upward Trend and Trendline Support The chart reveals a clear upward trend with some volatility, marked by significant peaks and troughs. An ascending trendline provides key support levels, with the price bouncing off this line multiple times. This trendline acts as a reliable indicator for traders to identify potential entry points. Key Observations Support and Resistance Levels: The trendline serves as a strong support, with the price repeatedly rebounding when it nears this level. Resistance levels can be observed at the peaks where the price struggles to break through, creating potential selling opportunities. Volume Analysis: Volume bars at the chart's bottom indicate trading activity. Notable spikes in volume often precede significant price movements, suggesting heightened investor interest. Analyzing volume trends helps confirm the strength of price movements and potential reversals. Daily Price Movements: The price action shows daily fluctuations, with the current price at INR 956.00, reflecting a change of +27.05 (+2.91%). Monitoring daily movements and changes provides insights into market sentiment and potential short-term trends. Trading Strategies Trendline Bounces: Traders can look for buying opportunities when the price approaches and rebounds from the ascending trendline. These bounces provide low-risk entry points, with the trendline acting as a natural stop-loss level. Breakouts: A breakout above resistance levels, especially with increased volume, can signal the start of a new upward leg. Similarly, a breakdown below the trendline support could indicate a reversal, prompting short-selling opportunities. Volume Confirmation: Confirming price movements with volume trends enhances the reliability of the signals. High volume during upward movements suggests strong buying interest, while low volume during pullbacks indicates weak selling pressure. Conclusion The price action of Chennai Petroleum Corp Ltd (CHENNPETRO) showcases a robust upward trend supported by an ascending trendline. By analyzing support and resistance levels, volume trends, and daily price movements, traders can identify potential entry and exit points. Leveraging these insights helps enhance trading decisions, contributing to more informed and potentially profitable trades.
NSE:CHENNPETROLong
by stocktechbot
GOLD → Will the bears allow the bulls to go through ATH?FX:XAUUSD is growing unpredictably towards ATH. The market did not react in any way to last week's US fundamental data and now the price is not reacting to strong levels and liquidity zones. Ahead of ATH after 3 weeks of forming... Investors remain cautious as the US Fed is expected to follow a path of moderate interest rate cuts (skipping a cut in November, or a 0.25% cut) The gold price is actively supported by the tense situation in the Chinese markets and lower US Treasury yields, which helps the gold price to take another leap towards the ATH. Now all eyes will be on Thursday when China holds a press conference and the US retail sales report is released Resistance Levels: 2680-2685 Support levels: 2665, 2658, 2645 Technically, I don't think that the market will let the resistance breakout happen the first time. The pullback from 2685, formed 3 weeks ago, was made on the back of strong economic data, so the huge pool of liquidity above 2685 can be defended quite aggressively by the bears. Technically, there are no signs for the continuation of growth. They may appear after the retest, but it will become clear after the fact. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDShort
by RLinda
15
GBPUSD → Support breakdown. CPI in the UK is declining... FX:GBPUSD confirms the bearish market structure. The price is breaking the support. Fundamental data is favorable for further continuation of the fall. UK Inflation: m/m = 0% (expectation +0.1% / previously +0.3%) YoY = +1.7% (expected +1.9% / previously +2.2%) Core CPI = +3.2% y/y (expected +3.4% / previously +3.6%) The USD index are rising on strong US economic data (last week's potential). All these data together have a corresponding impact on the currency pair, which breaks the support of the uptrend. A price consolidation below 1.3000 (strong psychological level) will open the way to 1.28-1.26. Support levels: 1.3000, 1.2938 Resistance levels: 1.309 Selling on the currency pair is intensifying, the price is entering the risk zone and the buyers are getting even more nervous... In the short term, a retest of the previously broken trend support is possible, followed by a fall towards 1.28-1.26 Rate, share your opinion and questions, let's discuss what's going on with ★ FX:GBPUSD ;) Regards R. Linda!
Short
by RLinda
6
#1 Forexpair EURAUD is Down Trending Am about to soak the rice for about 10mins before I boil it for another 7 mins.. This is what the instructions say on how to cook rice on the rice packet Will this work?🤔 I don't know. Is this the exact instructions? No it's not. The method of how to cook the rice is based on my tolerance level Meaning how much time am I willing to wait for it to cook plus the amount of gas that is needed to cook it. Risk Management in trading is very similar to cooking rice on a gas stove You need to calculate the best strategy to save on gas or firewood or charcoal to cook your rice In this chart FX_IDC:EURAUD The following 3 Steps have happened: 👉the price is below the 50 EMA 👉the price is below the 200 EMA 👉the price has gapped down on a down trend These 3 Steps confirm a down trend market price. 🚀 Rocket boost this Content to learn more ⚠️Discliamer: Trading is risky please learn risk management and profit taking strategies because you will lose money wether you like it or not.
Short
by lubosi
BTC is moving earlier then what I was expectingBTC moved above the downtrend consolidation channel earlier than I anticipated, with volumes confirming this change in trend. The breakout occurred on the 14th of October. Currently, there is a low chance that the price will return to the bottom of the channel at 53k-50k, in my opinion. I guess the price will just retest the top of the channel at around 64k-62k and continue to the upside, probably to the higher part of the channel at around 73k, maybe a little more. On the weekly chart, volatility is still low on BBWP (13th percentile), while on the daily chart, it is at the 63rd percentile, with extremes around the 85th-95th percentiles. So, there is still momentum to continue to the upside.
Long
by danywaystrige