teconlab

teconlab Updated 

Hi Traders, My technical analysis of OANDA:XAUUSD suggests we are currently in a corrective wave 2 pattern. This correction could take gold to the 1800-1780 region , likely around October 2023. After wave 2 finishes, wave 3 has potential to break above 2000 and resume the larger bullish trend. However, we need to see the correction play out first, so I don't...

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Gold is currently trading around 494.92 RMB per gram in China as of July 25, 2023. Based on the technical analysis on XAUCNY showing we are currently in wave 5, subwave 4 of an upward trend, the prediction is that by January 2025, the price for 1 ounce of gold will reach 16575 RMB. Given that 1 ounce equals 28.3495 grams, a price of 16575 RMB per ounce implies...

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🔍 Key Observations Uptrend Structure: Gold remains in a rising channel (higher highs, higher lows). $3265 flipped from support to springboard for continued upside. $3365–$3375 has held as a solid support zone. Resistance Levels: 💠 $3400 – psychological barrier and channel resistance. 💠 $3480 – upper channel boundary, long-term target. 💠 $3490 – historical...

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### 1. Overall Trend & Market Context - Bullish Momentum: GBPUSD is in a strong bullish trend, driven by DXY weakness (U.S. Dollar Index declining) and GBP strength. Key factors include: - Fundamental Drivers: - UK manufacturing contraction (less severe than expected) and rising housing prices. - U.S. dollar weakness due to manufacturing...

teconlab Updated 

### Key Technical Levels & Patterns 1. Resistance Zones: - $3,365–$3,392: Critical resistance levels. Breaking $3,365 with high volume could signal a bullish breakout, targeting $3,392 and beyond. - $3,387–$3,357: A broader resistance zone identified by inverse head and shoulders and descending broadening wedge patterns. A break here may confirm an...

teconlab

Gold volatility is expected to peak around the presidential election. According to Fibonacci levels, the fifth wave and wave A have both completed. The price, currently near the lower boundary of the uptrend channel, marks the start of wave B, which is projected to move toward the channel's midline. A subsequent downtrend from this midline could potentially...

teconlab

In my latest analysis, I’ve moved away from traditional timing methods and focused entirely on Gold’s key price levels. Gold is currently in the final grand wave (Wave 5) of the Elliott Wave cycle. Right now, we’re in Wave 3, just as the fifth subwave is beginning. My first take-profit target is set at 2589, based on my own trading plan. After hitting this level,...

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In this situation, we're likely to see another drop. I have two sell positions—one at 2487 and the other at 2485. The take-profit targets are set at 2472 and 2468, while the stop-loss levels are 2502 and 2499, respectively. Wishing you a successful and profitable trade!

teconlab Updated 

Hope you're all doing well. Several factors indicate that the trend for Gold remains bearish. To keep things simple, here’s the key information for my signal: Entry Point: (Mine: 2495.21) Take Profit: Stop Loss: Have a great day! If this signal works out for you, feel free to like and follow.

teconlab Updated 

Dear Traders, Technical Analysis: USDCHF is positioned for a potential downward move this week, though a short-term bounce higher is also possible. The daily technical analysis shows an oscillator reading of 1, signaling the pair is overbought and could see a selloff. However, we may first get a quick spike up to 0.9113 as stops are triggered. Just hold on...

teconlab

Technical Analysis: The Elliott wave theory suggests a bullish trend in oil prices, propelled further by geopolitical tensions and economic revitalization in major markets like China. The first Take Profit (TP) point is projected at $90.75 at the end of wave 3, followed by a second TP at $96.58, aligning with the broader market expectations of rising oil...

teconlab Updated 

Dear Trader, As of Tuesday, August 22, 2023, the EURGBP currency pair is trading around 0.8521. Based on my technical analysis, I believe there is potential for EURGBP to fall to the 0.8486 level in the near-term. If we see a drop to 0.8486, I think this could present an attractive area to look for a long position, as the price may find support and bounce higher...

teconlab Updated 

Dear Traders, Based on three distinct analyses, XAUUSD appears poised to continue its downtrend: 1- There's an increasing density of low frequencies between 1857 and 1852. Notably, the 1852 level seems to be acting as a significant barrier against further price advancement. 2- The channel, highlighted in blue, similarly indicates resistance in the 1855 to 1852...

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My frequency analysis of GBPCHF in the daily time frame indicates a continuation of the bearish trend. With the current price at 1.1117, I believe there is an opportunity to ride this downward momentum. To capitalize on the bearish momentum, I suggest entering a sell position with a take profit set at 1.10642. This level aligns with the next key support zone...

teconlab

Dear Traders, This is an update to my previous signal which hit stop loss and sharply dropped, though I had adjusted my personal stop loss on the position. Since stop losses cannot be modified after a signal is posted, the chart still shows the original stops. I have now added one more Sell position at rate 0.8953. My take profit remains the same as the previous...

teconlab Updated 

Dear Traders, My technical analysis indicates USDCHF has reached a peak and is primed for a drop. After conducting frequency analysis, I see clear signs this pair is overbought and due for a correction. I have already entered a short position on USDCHF, with take profit and stop loss orders in place to manage risk. The setup looks highly favorable for a move...

teconlab

Dear Traders, Based on WAVE Analysis we are still in wave 4 of downtrend. My expectation is at 0.8810 market should start the last drop and we can make the take profit at 0.8558.

teconlab Updated 

Greetings Fellow Traders, It appears many have taken short positions in CHFJPY, expecting the uptrend to reverse. However, my analysis suggests there may be one final bull wave still to come. Before the trend turns, I anticipate CHFJPY could edge higher, testing stops and forcing additional coverings. To defend short positions, consider implementing a long hedge...