Mihai_Iacob

Mihai_Iacob Updated 

Yesterday was another wildly volatile day for OANDA:XAUUSD , with prices dropping approximately 600 pips following the Fed's rate cut. After breaking below the 2645-2650 confluence support on Tuesday, the market entered a day of consolidation with a tight trading range. However, the calm didn’t last long... Yesterday's sharp decline took prices below the...

Mihai_Iacob

In my weekend analysis, I highlighted the potential formation of a Head and Shoulders pattern in Silver's price, with the neckline positioned precisely at the psychologically significant $30 level. Yesterday, the Federal Reserve’s rate cut triggered a drop below this key level. Currently, OANDA:XAGUSD is experiencing a normal rebound. This rebound may provide...

Mihai_Iacob

After breaking below the critical $1.04T support level yesterday, Total3 experienced a sharp decline, finding its footing at a key horizontal support level. This drop coincided with many altcoins also reaching their respective support zones. For traders, this presented an attractive opportunity to enter the market at more favorable prices, effectively halting the...

Mihai_Iacob

One of the biggest misconceptions in trading is the belief that successful traders are constantly active in the market. Many imagine professionals glued to their screens, executing trade after trade, chasing every price movement. The reality is much different. Professional traders focus more on quality than quantity. They understand that in the world of trading,...

Mihai_Iacob Updated 

Last week, OANDA:XAGUSD made several attempts to break through the 32.30 resistance zone but failed to sustain any momentum. Much like the price action in OANDA:XAUUSD , Thursday was marked by a bearish engulfing candle, which was even more significant given the preceding day's Doji formation. Following the formation of this bearish engulfing candle, the price...

Mihai_Iacob Updated 

In my Friday analysis, I highlighted that while the 2660-2665 zone is a technical support, it is too obvious and very likely to fall. This prediction came true as the week closed with Gold trading below this level, forming a strongly bearish daily candle. Additionally, a Pin Bar from the 2700+ resistance zone appeared on the weekly chart, reinforcing the bearish...

Mihai_Iacob

Tia/USDT has been lagging recently, and while other altcoins surged strongly after Trump’s election, Tia only recently managed to break above a key resistance level at $6. After reaching the recent high, the price corrected and is now back at the previous resistance level, which has turned into support. I expect this support to hold, and if it does, we could see...

Mihai_Iacob

In trading, as in life, pride can be your undoing. The saying “Pride comes before the fall” holds a profound lesson for traders who let overconfidence cloud their judgment. While confidence is an essential trait for success, excessive pride often leads to reckless decision-making, ignored warnings, and ultimately, significant losses. This post explores the...

Mihai_Iacob

Yesterday, OANDA:XAUUSD broke below the key confluence support at 2645. However, the drop lacked meaningful follow-through. After reaching a local low at 2633, the price reversed and closed right at the confluence level. As of now, gold remains virtually unchanged from Friday's close. Monday saw a spike up to 2665, while yesterday marked a dip to 2633,...

Mihai_Iacob

On November 23, FOREXCOM:EURUSD broke below the critical 1.05 support zone, reaching a low of 1.0336. However, the pair quickly reversed course and has since been trading in a range between 1.0450 and 1.06. A closer look at the price action suggests the pair has established a strong floor and is awaiting a catalyst for an upward reversal. That catalyst could...

Mihai_Iacob Updated 

On October 1st, EUR/NZD reached a local low at the psychological level of 1.75, followed by a reversal that lasted until November 1st, gaining nearly 1300 pips. A normal correction then occurred, and from mid-November, the pair started consolidating between the 1.78 and 1.80 levels. December brought a breakout above the key 1.80 level, and since then, EUR/NZD...

Mihai_Iacob Updated 

After dipping below the key 1.6 level—both a technical and psychological threshold—at the end of November, EUR/AUD quickly rebounded and began climbing in a constructive manner. Recently, it established solid support at the 1.6350-1.6360 zone, with two notable reversals from this area observed last week. As of now, EUR/AUD is trading at 1.6507, just below a...

Mihai_Iacob

Algo/USDT has been one of the standout performers among altcoins over the past month, with the price soaring by over 500%. After peaking just above $0.60, the coin experienced a healthy correction, forming a local low at $0.35, a level slightly above March's high. Following this correction, BINANCE:ALGOUSDT entered a consolidation phase, creating a base around...

Mihai_Iacob

In my analysis of XAU/USD yesterday, I highlighted that after the 800-pip drop, a rebound was likely. However, given the weekly Pin Bar and the bearish daily structure, I emphasized that any upward move should be viewed as a correction and an opportunity to sell. Indeed, the market did see a rebound, but it was weak and short-lived. After reaching the 2665 zone,...

Mihai_Iacob

Since November of last year, the SP:SPX has surged by 50%, and if we look at the gains from this year alone, we're seeing around a 30% increase. Additionally, the rise from August is 20% which is significant in just five months. Considering the rapid pace of these increases, especially for such a major index, it gives me the impression that the S&P 500 may be...

Mihai_Iacob

The Relative Strength Index (RSI) is one of the most popular and widely used indicators in trading. Despite its prevalence, many traders misuse it or are unaware of its full potential. RSI isn't just about identifying overbought and oversold conditions; when applied correctly, it becomes a robust tool for trend confirmation, reversals, momentum acceleration, and...

Mihai_Iacob

After testing the resistance above 4,000, the flash crash in Alts impacted ETH/USD as well, resulting in a sharp drop to 3,500. However, the strong support established at this level held firm, preventing further declines. Now, the price is approaching the resistance zone once again. At this point, it seems the bulls are gaining momentum, making a breakout above...

Mihai_Iacob

As anticipated by many, following Trump’s election, Bitcoin experienced a significant surge. On November 14th, it encountered its first notable correction during this upward momentum. In early December, Bitcoin crossed the critical 100k milestone for the first time. However, this achievement was followed by a swift pullback. Since then, dips have consistently...