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How high can the market go? Gold XAUUSD AnalysisTrading Idea: Long Buy Area below: $1,770 Stop Loss: $1,735 Take Profit: $1,880 Today Gold reached levels below $1,770, before bouncing back above $1,800. It lost a bit more than 14% since the last surge marking an all-time-high level above $2,070. Investors turned to riskier assets since the popular vote chose Biden as the 44th President of the USA. On the Monday that the the results were confirmed the markets surged and Gold took the bears having the first hit which continued with a bloodpath as Pfizer announced positive news for their early results from the coronavirus vaccine trial with their 90% effectiveness. Optimism continues with more Companies releasing covid-19 vaccine effective rates and countries laying out their plans on distribution dates to citizens. At the same time those events could either be the prophecies that things are actually going good or smoke around the huge bubble before a highly anticipated crash of the markets. Fiscal and monetary policies are testing the nerves of the markets. The world economy is standing on stimulus plans. How high can the market go? On Tuesday, one day after Cyber Monday and Black Friday, the markets surged and visited uncharted territory. This makes it a good potential opportunity to go long and find support levels to enter. You can see our support and resistance levels indicating the area the market will be bouncing within the borders.
OANDA:XAUUSDLong
by pipsinsider
2
SPX BREAKS 3333 TO TEST 3176A broad sell off across the globe started on the 281020. This sell off spark the SPX to break its Supertrend line at 3333 opening the door to its weekly Kijun support at 3176. The short signal was issued 2 weeks back on the 4hr chart at 3482 on 151020. On a birds eye view, the MT and LT outlook of the SPX is still uptrend. This move towards 3176 is ST in nature and corrective. 10% corrections are normal in the course of market lifespans. A break above 3389 will resume ST uptrend.
OANDA:SPX500USDShort
by gekkohot
6
Oil Bearish - MY BEST ANALYSIS SO FAR!!This is a retest of the Hell that broke loose. Ask youself a question...If there was that much selling here, what's the probability that price will fall big the next time price comes here again? If the answer is more than 50.1%, you should probably take the trade. Price might not be guaranteed to fall as far but you've got a clear signal that you could bank at least a little profit in this area. This is what trading is. A game of probabilities. Your job is to trade at times where there is the most probability of price moving big, in a certain direction. Naked trading is just that simple. Trading the bigger timeframes helps keep the markets in perspective. The SECRET is to get out of a trade that looked good but isn't so good after a while. You've got to be disciplined when you know you just need to take the loss. Like in a relationship lol...ALWAYS WIN bigger than you lose! YOU ALL CAN DO THIS! You can use trading to change your life & everyone around you!
FX_IDC:USDWTI
by BillionaireTomBoi
1
QQQ All-Time LevelsIn an uncertain market it is hard to find footing. NASDAQ:QQQ is currently testing a jumpy support level right now. The biggest factors that will play into the outlook of the NASDAQ and the market as a whole is government stimulus and the upcoming election. Many analysts are comparing this years election to Gore-Bush election and the uncertainty could be detrimental for our market. If support begins to break and there is no positive news on a COVID vaccine, QQQ could face some major downside before leveling out. Many analysts have also compared the boom in tech "post-COVID" to the .com bubble in 1999. Furthermore, the news of Europe begining to take preventative measures is creating more fear globally. If the market doesn't quickly move to fill the gap down or support is broken there is room for a lot more sell-off. It's a long way down.
NASDAQ:QQQShort
by crawfordpaul
SPY fork pattern analysisI published another fork pattern idea earlier today (see related idea) on the daily chart pointing out how the fork patterns predicted the lasts 2 major market falls and the starting of the recovery after the previous fall and likely the point where recovery starts for the current fall (which was yesterday). I went to 1H chart to get a feel for where the market is going. You can see (for the 1st fork on th chart) the market fell when it reached the top fork line and that yesterday SPY went below the bottom fork line (for the second fork). The 3rd fork, meant to predict the market direction, is a bit premature: it's only based on 2 days of price action and it's rather narrow. Price action over the next days will likely go beyond the fork and will expand it. However, the fork may still give a valuable idea about the upcoming trend. Thus I predict that the SPY will reach the last red circle on the graph (when the last fork will reach the top line of the 2nd fork). That is around 342-343 on Oct. 13. As I said, this is preliminary, as the price action over the next days will likely expand the fork and thus, that point of intersection may come sooner. Whenever it comes, I find it rather likely that SPY will have a little, temporary fall at that point. That may happen instead when the last fork reaches the green line of the 2nd fork (where the 1st red circle is, around 339 price level on Oct. 7) but I find that less likely. Conclusion: go long. "Like it" if you like it! Add your comments, questions or concerns if you have any. DISCLAIMER: Security trading involves substantial risk of loss. My analysis is not trading advice. Do your own research first and/or consult a financial advisor. I'm not responsible for any losses you may incur following my analysis.
AMEX:SPYLong
by TradersForecast
4
SPY fork pattern indicating the fall ended and recovery startedIf you draw the highest resistance trend line since the recovery started (the blue line in the graph) and from the high before the last one (where the red line starts, on April 29) draw a fork to the last high on that resistance trend line (on June 28) and to the latest low after that high (on the green line, on June 29) this fork clearly shows that SPY fell right after it opened and went over the the upper fork line (on 9/2) and, if the pattern holds, yesterday when it went below the upper line of the fork will be the point where recovery starts and the market will go up. Conclusion: go long. "Like it" if you like it! Add your comments, questions or concerns if you have any. DISCLAIMER: Security trading involves substantial risk of loss. My analysis is not trading advice. Do your own research first and/or consult a financial advisor. I'm not responsible for any losses you may incur following my analysis.
AMEX:SPYLong
by TradersForecast
SPX correction intensifies in the short termA close at 3329 in the SPX sits exactly on the SSSA line of the day ichimoku cloud. A test of the base of the cloud is imminent. The baseline forms support for now. The Teken level on the weekly charts is at 3350, this has been violated giving way to more weakness. Bottomline: A resumption in the uptrend must see a bounce from Friday's close at 3329 to 3375 for the MT/LT uptrend to resume. A break and hold below the SSSB line on the Day charts may signal a corrective move to 2973, The Supertrend line on the weekly.
OANDA:SPX500USD
by gekkohot
SPX REBOUNDS TO TEST 3475The SPX has Rebound of its intraday lows of the week on the 9th of Sep to the Kijun Sen on the 4hr charts at 3475. This is a 50% retracement based on Ichimoku cloud indicators. Pivot will be at 3400. A close and hold above 3400 will test the Supertrend level at 3475 which is also above the SSSA line. A break below the pivot will see the retest of the week's corrective lows. The SPX is still on a medium term uptrend on the Medium and Long Term charts. A close a hold above 3475 into the purple trading area will resume the longer term uptrend.
OANDA:SPX500USD
by gekkohot
Are we seeing the start of a downtrend for SPX500? Are we seeing the start of a downtrend for SPX500? Last week, we broke out of the rising wedge and gapped down. Currently, MACD, RSI, 2 Day "Rate of Change" and Filter wave are all showing bearish signals. Therefore, I am leaning towards the market to go down. If we close below 2934 (0.618 Fib retracement and 50 moving average), it is a CONFIRMED downtrend for me. Lastly, we cannot rule out sideways actions, it will not surprise me that we trade between the fib levels (2934 and 3136) for the next 5 days.
TVC:SPX
by johninvest17