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GOLD → Ahead of NonFarm Payrolls. What to expect from gold?FX:XAUUSD is in consolidation with gradually narrowing local extrema. NonFarm Payrolls are ahead and traders are getting nervous about further movement. Up for renewal of highs or a long-awaited correction? Before NFP, traders resorted to adjusting positions, taking profits on the US dollar rally (reasons: strong employment and PMI data from ISM). The encouraging data weakened bets on an aggressive interest rate cut by the Fed. However, the decline in gold prices remains subdued due to heightened geopolitical tensions in the Middle East. The future direction of the gold price will be determined by the upcoming US employment data. Gold could move into a correction if NFP shows an upside surprise, which would impact the USD rally and strengthen bets for a 0.25% Fed rate cut in November. Conversely... Resistance levels: 2665, 2673, 2685 Support levels: 2653, SMA 200 & 50, 2640 The SMAs are narrowing, which could also be a hint of a possible correction (if there is a crossover). Technically gold is ready for a correction, but fundamentally, unpredictable news may affect further growth. Analysts are inclined to the beginning of correction on the background of strong economic data of the first half of the week Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDShort
by RLinda
13
EURUSD → The triple top is in the 1.1200 zone. Falling?FX:EURUSD is facing strong resistance forming a reversal pattern relative to the 1.1200 sideways range boundary. The bulls are not yet able to continue the trend. The dollar is bouncing.... On the back of unpredictable economic data confirming the problems in the US economy (manufacturing, banking sector), the markets are rebounding. DXY strengthens after the market held 100.0 support. EURUSD reverses course amid sentiment changes. Price forms a triple top reversal pattern and faces a strong sell-off, within which breaks trend support. In the short-term, we may catch a correction to the imbalance zone (with the aim of retesting the previously broken channel boundary), after which the decline may continue to 1.100, 1.095, 1.089. Resistance levels: 1.11, 1.1125, 1.115 Support levels: 1.107, 1.104, 1.100 ADP NonFarm ahead and before the news, the market may quiet down and form a correction. In case of EURUSD, the zone of interest is 1.11 - 1.113. The fall may resume from these zones.... Rate, share your opinion and questions, let's discuss what's going on with ★ FX:EURUSD ;) Regards R. Linda!
Short
by RLinda
2
Long AMZN (but not for long) @ 183.13Thesis: AMZN is oversold according to my algo. The end. OK just for everyone else who doesn't know that all my trades are run by my algo, I'll spice it up a little with this chart and some fundamental news just for that crowd. The blue line shows very strong long term support going back to late 2022 - tested and held 3x. The white line is short term support from the previous high before the most recent one set on Sept. 24th. While it won't matter to me if AMZN breaks through this, it would be a slight negative. I don't expect it to break this before a little run up, however. It certainly could, though. The orange line is medium term support from the August 28th low. Incidentally, that's the last time my algo considered it oversold and it proceeded to rally around 13% after that. Short term, the green triangle is a somewhat neutral triangle, but given that the bottom is steeper than the top, it was tested and held today, and the triangle is part of a strong longer-term uptrend, it gets a mildly bullish vote from me. Finally, Deloitte, Mastercard and Adobe all came out with holiday sales forecasts predicting an anywhere from 7-10% increase in online holiday sales this year vs. last year. That's fundamentally bullish for AMZN. The east coast longshoremen's strike is not especially bullish, but I imagine that most of AMZN's purchases that ship from overseas come from East Asia, rather than Europe, so I don't see that as a huge negative...YET. If it is a protracted strike and starts to affect the economy at large, then I think it's going to affect AMZN too. My trade will hopefully be a short term trade, expecting a rebound, rather than a trade long enough for the strike to seriously affect the stock. I wouldn't personally get concerned unless AMZN breaks the blue trend line with force. Even then, AMZN is not going away. If the rebound takes longer and it stays oversold, I'll add more lots and I'll sell when each lot becomes profitable. This is ideally a quick win trade, allowing me to cycle the proceeds into another idea, not a big win trade. In the last 12 months, that strategy is 19-2* on AMZN (the 2 are still open trades from early July). This is entertainment, not financial advice, so don't take it as such. DYOR and make wise investment decisions based on it. I'll update this as buys or sells are made.
NASDAQ:AMZNLong
by redwingcoach
GOLD (XAUUSD): Strong Intraday Bullish Signal Update on Gold Recently, we observed a breach of a key horizontal resistance level on the intraday chart. Following this, the market retraced to a previously broken level and formed both a symmetrical triangle and a double bottom pattern on the 4-hour chart. A bullish breakout above the triangle's resistance line and the neckline of the double bottom signals a strong intraday bullish outlook, indicating a likely continuation of the uptrend. Our initial target is set at 2684.
OANDA:XAUUSDLong
by NovaFX23
2
The weekly linear symmetrical triangle truncatedI wanted to post thesame triangle I posted in the previous idea,but instead of starting the top trendline from the ath in 2018 starting it from the second highest wick.I think both are valid but wanted to give this one its own separate chart since in doing so it makes both the top trendline of the triangle and the bottom have a more similar length and also gives me a easy red ,ove line that is tilted forward which could be useful should the dotted measured ove line start to act as additional support or resistance along the way to the target. Once again as I said in the previous idea, no breakout has been confirmed of this in ear triangle pattern just yet, but the current weekly candle is holding wick support exactly on the top trendline currently which is an optimistic sign. Still completely possible it loses that support but for now it seems post worthy so I can keep a close eye on it. *not financial advice*
BITSTAMP:XRPUSD
by DrDovetail
2
XRPUSD Weekly triangle currently retesting as exact wick supportEven though we are still inside the triangles on the logarithmic chart, we have now been above this key linear chart symmetrical weekly triangle now for 2 consecutive weekly candle closes, and sure enough the big dump that coincided with the SEC’s appeal found wick support right on the top trendline of this triangle retesting it currently as support. It’s certainly plausible that price could continue to fall back inside the linear chart symmetrical triangle here, however closing the currentl weekly candle above ot’s top trendline here and maintaining it as precise wick support would be such a bullish sign were it. To happen that then I would start wondering if the entire appeal thing might actually not go through because maintaining this as support should validate the breakout and send price action on its way up to find that $3.73 cent measured move target. Of curse still very probably we could dip back inside this triangle one more time as well, either way I thought it’d be a good idea to repost this triangle and also include a screenshot of the current wick support zoomed in. *not financial advice8
BITSTAMP:XRPUSD
by DrDovetail
XRPUSD Weekly triangle currently retesting as exact wick supportEven though we are still inside the triangles on the logarithmic chart, we have now been above this key linear chart symmetrical weekly triangle now for 2 consecutive weekly candle closes, and sure enough the big dump that coincided with the SEC’s appeal found wick support right on the top trendline of this triangle retesting it currently as support. It’s certainly plausible that price could continue to fall back inside the linear chart symmetrical triangle here, however closing the currentl weekly candle above ot’s top trendline here and maintaining it as precise wick support would be such a bullish sign were it. To happen that then I would start wondering if the entire appeal thing might actually not go through because maintaining this as support should validate the breakout and send price action on its way up to find that $3.73 cent measured move target. Of curse still very probably we could dip back inside this triangle one more time as well, either way I thought it’d be a good idea to repost this triangle and also include a screenshot of the current wick support zoomed in. *not financial advice8
BITSTAMP:XRPUSD
by DrDovetail
GOLD (XAUUSD): Strong Intraday Bullish SignalUpdate for 📈Gold. Earlier, we spotted a violation of a significant horizontal resistance level on an intraday chart. After retesting a previously broken level, the market formed a symmetrical triangle and a double bottom pattern on a 4-hour chart. A bullish breakout from the triangle's resistance line and the neckline of a double bottom indicates a strong intraday bullish indication, suggesting a potential continuation of the uptrend. Our initial target is 2684.
TVC:GOLDLong
by linofx1
4
CRUDE OIL (WTI): Your Trading Plan For Today WTI Crude Oil is testing a significant falling trend line on a daily. To short that with a confirmation, pay attention to a descending triangle pattern on an hourly time frame. Your signal will be a breakout of its horizontal neckline - an hourly candle close below 73.46. Short the market aggressively or on a retest, then. Targets: 73.07 / 72.85 Alternatively, a bullish violation of a trend line will be a strong bullish signal. ❤️Please, support my work with like, thank you!❤️
TVC:USOILShort
by VasilyTrader
1
Uncertainty in Gold: Is a New Leg of Correction on the Horizon?Yesterday, OANDA:XAUUSD exhibited significant volatility, with sharp fluctuations both upward and downward. However, by the close of the session, the price remained relatively unchanged, lacking a clear directional trend. The current price movement suggests a phase of consolidation, indicating that a more definitive direction may emerge soon. Traders are now observing key levels that could guide future moves. On the upside, the 2663-2665 zone is seen as a resistance level, which could signal a bullish breakout if breached. Conversely, the 2645-2650 range serves as a support zone, indicating a potential bearish move if the price falls below this level. From a personal perspective, I anticipate that gold might break to the downside, leading to a new corrective phase that could potentially drive the price toward the 2600 level. That said, this is merely my view, and there is always the possibility of being wrong. Therefore, my invalidation point for this bearish scenario would be a break above the established resistance zone, which would signal the need to reassess the situation. In conclusion, while the market remains in a state of indecision, these key levels provide traders with important reference points to monitor for potential breakouts or reversals in the near future.
OANDA:XAUUSDShort
by Mihai_Iacob
9
Adobe May Have Space to the DownsideAdobe has been struggling all year, and some traders may think the software stock has space to the downside. The first pattern on today’s chart is the series of lower highs since September 13. ADBE dipped below its subsequent low this week, potentially breaking a bearish descending triangle. Next, the triangle followed a sharp gap lower after guidance disappointed. Third, the 50-day simple moving average (SMA) is nearing a potential “death cross” below the 200-day SMA. That may suggest its long-term trend is getting more negative. Finally, MACD has turned downward, and prices have remained below the falling 8-day exponential moving average. Those points may signal bearishness in the shorter term. TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. If you're born to trade, we could be for you. See our Overview for more. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com . Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com . System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors. Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges. TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com for further important information explaining what this means.
NASDAQ:ADBE
by TradeStation
Nasdaq 100 Buyers May Want to Wait for Lower PricesNASDAQ 100 buyers might find a better entry point if they wait a couple of weeks, as prices are currently stuck in a large triangle pattern. Support is close to the September low of 18,309. With the general election approaching, traders could soon take profits. The NASDAQ 100 and other stock indices have already seen significant gains. Historically, the S&P 500 tends to rise by around 30% in election years, with the S&P 500 already up by 19%. This suggests that the upside might be limited. However, if the NASDAQ 100 doesn't drop toward the September low, there's a chance for a bullish breakout of the triangle pattern. A breach of 20,119 will likely signal that the price is ready to head higher. This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
N
by ThinkMarkets
DC. Ascending Triangle.The time interval for the triangle formation is approx 29 days. An upward exit implies a 100% growth. If price now finds support from the long-term moving average, then the average will act as resistance in upcoming bull run of the asset. The price growth, as well as the volume growth, coincides with abnormally increased activity in Dogecoin chain. Remember that it is the Dogecoin community that is inspiration behind the creation of the smart contract blockchain for Dogecoin chain and community.
by Tropnik