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Wave Analysis

GOLD XAUUSD ANALYSIS June17-21Here is the market outlook on Gold XAUUSD for next week from 17th-21st of June. It is a clear projection of what is mostly likely to happen on Gold in the coming week. ANALYSIS; In monthly timeframe price has formed a clear rejection on two monthly candlesticks, and the current monthly candlestick is mostly likely to close with the bearish momentum. In weekly timeframe the three wave swing to the upside followed by correction is still holding true and currently the corrective phase is still ongoing. Price has bounced at a the static support which has a serious history of supporting price. In daily timeframe there is a sort of clear heard and shoulder pattern, but price is still maintained above the static support explained in weekly timeframe. Price is expected to rise up to the level of a simple technical resistance presented in this timeframe. In four hour timeframe price is expected to complete wave C of the possible ABC price move to the downside. Currently price is correcting the expected wave 1 of the the five wave move of wave C. Correction is expected to move up to technical levels indicated by trendline in this timeframe. PRIMARY PROJECTION. Consider sells when price confirm at 2350 with First targets at 2300. Then break and retest of 2300 will create another opportunity for continuation of sells up to around 2100. ALTERNATIVE PROJECTION. Consider buying when price break close above and retest the 2400 level with targets at 2450.
SAXO:XAUUSDShort
by ASAMForex
Swing Trading - Using Market Side and Opening Range FiltersSwing trading is a short-term strategy where traders aim to capitalise on small price movements within a financial instrument over a specific period. The goal is to capture gains from these "swings" in the market rather than focusing on long-term trends. In this example, I am trading the GBP/JPY using the market side and the session opening range as filters to determine high probability trading direction: Market Side: This helps to identify the overall trend or sentiment in the market. Session Opening Range: This is the price range between the high and low during the initial period after the market opens. It is used to set reference points for potential entry and exit levels. Here's a simple breakdown: Below the Market Side and Opening Range: If the price is below both the market side indicator and the opening range, this signals a bearish sentiment, and you look for selling opportunities. Above the Market Side and Opening Range: If the price is above both the market side indicator and the opening range, this indicates a bullish sentiment, and you look for buying opportunities. I use the Charts247_WT Custom Indicator Candles for entries and exits, which provide specific signals to enter trades and exit existing positions. This combination of trend filters and entry signals helps improve your trades' accuracy and timing, aligning your actions with the broader market context.
Education
by Charts247TradingAcademy
GBP/CHF Short and WHEAT/USD ShortGBP/CHF Short Minimum entry requirements: • Tap into area of value. • 1H impulse down below area of value. • If 2 touch 15 min continuation, 5 min risk entry within it, or reduced risk entry on the break of it. WHEAT/USD Short Minimum entry requirements: • 1H impulse down below most recent low. • If 2 touch 5 min continuation, reduced risk entry on the break of it. • If 2 touch 15 min continuation, 5 min risk entry within it, or reduced risk entry on the break of it.
OANDA:WHEATUSDShort
by StewySongs
GBP/JPY- Trend Changing PatternMy focus this morning is on the GBPJPY, we have seen a strong reaction to the breakdown low that happened on 03 May 2024. The reaction gave us a bullish wave structure on the H1 timeframe, the concluding factor is that wave structure 4 failed to make an HH 5 (200.652). Instead of an HH 5, the price made an LH 5 in an uptrend. The price then proceeded to break structure 4, known as a trend-changing pattern. Knowing this information determined our directional bias for the GBPJPY. So far, we have seen a retracement to the LH 5 (200.652), which has now become a structural point because it made a LL. Yesterday the price formation indicated that the Sellers are slowly coming into the market above the 200.652, we saw sharp rejections twice yesterday and a trade below the 200.65 and 200.50 today will be a sell indication for us. The invalidation point is a break above the 200.95, above here selling is no longer an option for us. Think in Probability: As traders, you must be careful to align your behavior and expectations with the following principles: - Anything can happen - An EDGE is only an indication of one thing happening over another - There is a random distribution between wins and losses - You don't need to know what will happen in order to make money in trading.
Short
by Charts247TradingAcademy
7
SPY Rallying to $608+. Are you ready?My research suggests the SPY will quickly rally above $560 and continue higher to breach $608 (a 100% Fibonacci measured move) before the end of August. The Q2:2024 earnings data and continued US economic strength will drive capital investments in US equities over the next 3+ months. Traders continue highlighting the risks related to US banking issues and the related downside price concerns. I also share these concerns - but continue to follow the price action simply. My analysis suggests the SPY will attempt to rally to levels close to $605+ before finding any major resistance.
AMEX:SPYLong
by BradMatheny
NEAR: The Bearish Wave Began - More Price Decline is expectedNEAR: Two Targets Reached - More Price Decline is Expected From our previous analysis, the price reached our targets. Today NEAR is showing that it can move down more as the bearish volume is increased again during the last couple of hours. 📺You may watch the video for further details📺 Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Short
by KlejdiCuni
GBP/CHF Trade Recap, GBP/CHF Short and USD/SGD ShortGBP/CHF Short Minimum entry requirements: • 1H impulse down below area of value. • If 2 touch 5 min continuation, reduced risk entry on the break of it. • If 2 touch 15 min continuation, 5 min risk entry within it, or reduced risk entry on the break of it. USD/SGD Short Minimum entry requirements: • 1H impulse down below most recent low. • If 2 touch 5 min continuation, reduced risk entry on the break of it. • If 2 touch 15 min continuation, 5 min risk entry within it, or reduced risk entry on the break of it.
Short
by StewySongs