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ES price action review Overnight session 10-8-24Going over the price action overnight ES and looking for clues as to what the market is telling us. setting up 3 possible game plans for the market but we will not dictate what the market does but rather listen to what the market is telling us. only A+ setups today. no setup no trade end of story. we're not losing $$$ on a Friday. we will add a weekend Focus list review and a new crypto review as we need exposure to all these asset classes regularly.
CME_MINI:MES1!
by BobbyS813
GOLD MCX - 1D TIMEFRAME - ANALYSIS Pure Price Action-Based Trading Plan Buy Position: Enter a buy position if the price breaks and closes above ₹78,700. Targets: Target 1: ₹79,500 Target 2: ₹80,500 Target 3: ₹82,000 Stop Loss: Place the stop loss just below ₹77,000 to limit downside risk. Sell Position: Enter a sell position if the price breaks and closes below ₹76,300. Targets: Target 1: ₹75,500 Target 2: ₹74,500 Target 3: ₹73,000 Stop Loss: Set the stop loss above ₹77,000 for this trade. Given the overall bullish trend, it would be safer to lean towards a buy on breakouts rather than anticipating a reversal. However, a break below support could open the door for short-term selling opportunities. This approach relies purely on observing price behavior at key levels rather than indicator-based signals.
MCX:GOLD1!
by rddtqpek
Is The US500 SPX Set For Pullback? Key Price Action Signals👀👉 The US500 SPX is displaying strong bullish momentum, but is it over-extended? A significant pullback at a key support level could present a worthwhile opportunity. I'm closely watching this area for a possible buying setup that matches the key criteria covered in the video. In this analysis, we'll highlight crucial price action signals to monitor and discuss strategic positioning for the next potential move. Disclaimer: This analysis is for informational purposes only and is not financial advice. 📊✅
CME_MINI:ES1!
by tradingwithanthony
GOLD SMART MONEY PLAY Smart Money Play for Gold The primary trend shows bullish signs overall (above the daily Ichimoku cloud), but recent bearish momentum and trend breaks suggest caution. Here’s how to approach it: 1. Confirm Support Around Key Levels • Price recently bounced off the 2670 level, which aligns with the 50 SMA on the daily and acted as a previous turning point. This makes 2670 a critical support level. • Daily volume analysis with ADL positive and CMF above zero suggests underlying buying pressure hasn’t completely faded, indicating that buyers may defend this level in the short term. 2. Monitor RSI and MFI for Bullish Signals • The daily RSI is below 50 at 48, which raises caution. If it remains close to 50 or reclaims this level, it may signal that bullish momentum is recovering and provide a potential long entry. • The daily MFI, sitting at 50, also needs to stay at or above this level to confirm continued buying interest. A dip below 50 would suggest a more significant downside risk, indicating that sellers may be gaining control. 3. 4-Hour and Lower Timeframe Confirmation • On the 4-hour chart, price is retesting the 200 SMA from below after the recent rally from 2670 to 2708. A sustained move above the 200 SMA would be a strong signal of a short-term recovery. • The 2-hour MACD remains light green, indicating that bullish momentum is fading. Watch for it to turn dark red as a potential early indicator of another leg down, or to stabilize and re-strengthen if price remains above the 200 SMA. 4. Ichimoku and Bollinger Bands for Trend Context • Daily Ichimoku cloud analysis shows price has dipped below the conversion and base lines, though it remains above the cloud, suggesting a short-term bearish correction within a longer-term bullish structure. • Price currently resides in the lower part of the daily Bollinger Bands. If it holds here or moves towards the middle band (20 SMA) without breaching further support levels, it could indicate consolidation before resuming the upward trend. Trade Ideas 1. Long Continuation (Buy-the-Dip): • Entry: Enter near 2670 if price shows bullish signs (e.g., 4-hour MACD turns dark green again or 4-hour RSI moves higher). • Stop-Loss: Place a stop below the daily 50 SMA and recent low (around 2660) to allow for volatility while managing downside risk. • Target: Look for a rally towards the 20 SMA and middle Bollinger Band on the daily (around 2720–2730), and potentially the daily Ichimoku conversion line if momentum returns strongly. 2. Short-Term Short (if daily RSI remains below 50 and MFI dips under 50): • Entry: If price breaks below 2670, consider a short position targeting the lower Bollinger Band or Ichimoku cloud support as an initial target. • Stop-Loss: Set stops just above the 200 SMA on the 4-hour chart to avoid excessive risk if the trend turns. • Target: Initial target around 2650 or Ichimoku cloud support level on the daily as a lower support. Summary of Smart Money Play 1. Trend Bias: Mixed – watch for continuation signals around support for long positions, but don’t ignore bearish continuation if support breaks. 2. Setup: Wait for confirmation around 2670, with a preference for long if support holds. 3. Entry Trigger: Use 4-hour MACD, RSI, and price action around the 200 SMA for confirmation. 4. Risk Management: Stops below support for long positions or tight stops above resistance for shorts, with targets around Bollinger bands and Ichimoku levels.
OANDA:XAUUSDLong
by Shivsaransh1
XAU/USD ! 11/8 ! downtrend line / scalping XAU / USD trend forecast November 8, 2024! SCALPING Gold price (XAU/USD) stays below $2,700 as the European session approaches on Friday, weighed down by a slightly stronger US Dollar (USD) amid optimism that Trump’s policies may boost economic growth and inflation. Additionally, a generally positive risk sentiment is reducing demand for the safe-haven metal, pausing its recent recovery from the 50-day Simple Moving Average (SMA) support, after hitting a three-week low on Thursday. Still following the downtrend - waiting for trendline and retest 2689, scalping down today /// SELL XAU : zone 2689-2692 scalping SL: 2695 TP: 40 - 80 - 150 pips (2677) Safe and profitable trading
OANDA:XAUUSDShort
by Moon-ForexAcademy
3
WHAT'S FLOWING: METALS | FX | CRYPTOS | COMMODITIESXPDUSD (Palladium): Bearish outlook. The chart indicates potential resistance around the current price levels, suggesting a downward move may be in play. AUDCHF: Bullish. Positive price action with upward momentum signals the potential for gains, as AUD strength seems to dominate CHF. CADCHF: Bullish. Similar to AUDCHF, CAD is showing strength against CHF, pushing higher and creating opportunities for bullish plays GBPAUD: Bearish. GBP appears to be under pressure against AUD, with price action leaning towards a decline, signaling a potential short opportunity. JPN225 (Nikkei): Bullish. Japan's index is holding strong and showing signs of further upside, making it a favorable option for long positions. LNKUSD: Bullish. Link (Chainlink) is experiencing upward momentum, making it a strong candidate for a continuation in price appreciation. XLMUSD: Bullish. Stellar Lumens (XLM) is also looking strong, with buying pressure indicating potential gains in the near term. CCZ2024 (Cocoa Futures): Bearish. Cocoa futures seem to be in a downtrend, with bearish signals suggesting lower prices ahead.
ICEUS:CCZ2024
by moneymagnateash
Quick Gold (XAU/USD) Chart Analysis🚀 Quick Gold (XAU/USD) Chart Analysis 🚀 Just checked out the 15-min chart for Gold on OANDA. Here’s what I’m seeing: Key Levels: Price is sitting around 2689 right now, with support near 2686 and resistance up at 2695 and 2701. These levels could be areas to watch for bounces or pullbacks. Trend: We had a strong move up earlier, but since then, it’s been a steady downtrend with lower highs and lower lows. Potential Play: If the price holds above 2686, we might see a reversal, but if it can’t break resistance around 2695–2701, the downtrend could keep going. Keeping an eye on this setup—let’s see where it goes! 📉👀
OANDA:XAUUSD
by mubeenbinsaddiq
XAUUSD - Gold after the FOMC?Gold is located between EMA200 and EMA50 in the 4H timeframe. Gold reached its analysis target of the previous day. In case of upward correction due to today's economic data, we can see supply zone and sell within that zone with appropriate risk reward. The downward correction of gold has led to the visibility of the demand zone and it is possible to look for buying positions. It should be noted that both buying and selling positions will be short-term. The Federal Reserve reduced its interest rate by 0.25%, aligning with market expectations, bringing the total rate down from 5% to 4.75%. In the Federal Open Market Committee (FOMC) statement, a line mentioning increased confidence in inflation returning to target was removed, initially prompting markets to react hawkishly. However, Fed Chair Jerome Powell quickly downplayed this change, stating that it held no special significance. In his remarks, Powell assessed the U.S. economic outlook as positive and indicated that the Fed would continue with its contractionary monetary policies. He noted that inflationary pressures are easing and that the inflation rate is gradually nearing the 2% target. Powell emphasized the importance of reducing the risk of an economic recession and thus stressed that the Fed’s approach would remain cautious to ensure economic growth and labor market stability, with interest rates managed in a controlled manner. During the press conference following the Fed meeting, a reporter asked Powell if he would resign if asked by Donald Trump. Powell replied simply and firmly: “No.” Meanwhile, according to The Wall Street Journal, sources close to Trump have stated that there is still no organized plan to end the war in Ukraine, nor is there any clear idea on how to convince Vladimir Putin and Volodymyr Zelensky to agree to negotiate. One idea under discussion involves Ukraine agreeing not to join NATO for the next 20 years. In exchange, the United States would continue providing extensive military aid to Ukraine as part of a strategy to deter Russia from further aggression.
FOREXCOM:XAUUSD
by Ali_PSND
Brent - Oil waiting for new tensions?!Brent oil is above EMA200 and EMA50 in the 4H time frame and is moving in its upward channel. At the bottom of the rising channel, which is also at the intersection with the demand zone, we will look for oil buying positions. If the upward trend continues, it is possible to look for oil selling positions within the specified supply zone. Israel plans to use U.S. military aid funds for purchasing new fighter jets. According to the Times of Israel, the United States has deployed additional F-15E fighters to the Middle East, especially to Jordan, due to a possible Iranian attack on Israel. Iranian leaders have warned of a “punitive” attack in response to previous Israeli assaults. Additionally, reports indicate that the United States has sent several B-52 bombers and THAAD missile defense systems to the region. Prolonged tensions in the Middle East could create significant risks for energy prices. Other upward risks include lower-than-expected North American oil production, increased competition for liquefied natural gas shipments, and higher-than-anticipated coal and natural gas consumption in Asia. Conversely, notable downward risks for energy prices also exist, particularly if the OPEC+ supply cuts end sooner than expected. This could lead to an oversupply of oil as well as slower-than-anticipated economic growth, including in China. The World Bank, maintaining a bearish outlook on the energy sector, forecasts a 6% decline in oil prices in 2025 and a 2% decline in 2026. Although geopolitical uncertainties may generate market volatility, analysts clearly foresee downside risks for oil. Citibank has projected that a second term for Donald Trump could exert downward pressure on oil prices through 2025, forecasting Brent crude to average $60 per barrel. Trump’s policies might reduce OPEC+ production and ease geopolitical tensions. These policies may also have mixed effects on global economic growth, potentially slowing global oil demand growth. However, the immediate impact on physical oil markets is expected to be limited.
BLACKBULL:BRENTLong
by Ali_PSND