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Bullish or bearish? (Read description). As of May 7, 2025, the XAU/USD (gold) market is experiencing fluctuations influenced by a combination of geopolitical developments, economic indicators, and central bank policies.  ⸻ 📉 Recent Market Movements Gold prices recently declined by 1.3% to $3,383.88 per ounce, retreating after nearly a 3% rise the previous day. This drop comes amid growing optimism over U.S.-China trade negotiations, diminishing the appeal of safe-haven assets like gold. Additionally, markets are focused on the Federal Reserve’s policy decision expected later in the day, with the central bank likely to hold interest rates steady while maintaining flexibility due to uncertainties from the trade war.  ⸻ 🔮 Outlook for XAU/USD Despite the recent pullback, the long-term outlook for gold remains bullish. Goldman Sachs projects that gold will continue to outperform silver due to sustained central bank demand, which has structurally elevated the gold-silver price ratio. Currently, the ratio stands at approximately 102, up from 84.7 a year ago. Factors such as slowing Chinese solar production, high recession risks, and robust bullion purchases by central banks contribute to gold’s stronger performance. Goldman Sachs maintains a bullish outlook on gold, forecasting a base price of $3,700 per ounce by year-end and $4,000 by mid-2026.  ⸻ 📊 Technical Analysis A key resistance level is observed at $2,660, with support around $2,600. A breach below this support could lead to further downside towards $2,500.   ⸻ ⚠️ Key Factors to Monitor • Federal Reserve’s Policy Decisions: Anticipated rate cuts could influence gold’s appeal. • Geopolitical Tensions: Ongoing conflicts may drive demand for safe-haven assets. ⸻ ✅ Conclusion While short-term fluctuations are expected, the long-term prospects for XAU/USD remain positive, supported by strong demand from central banks and geopolitical uncertainties. Investors should monitor key economic indicators and central bank policies for potential impacts on gold prices.   ⸻
FOREXCOM:XAUUSD
by Zayn_Muaath
Game-changing analysis technique that will elevate your strategyAs many of my loyal followers know, my analysis toolkit goes beyond just the standard fare of CME options data and COT reports. I dive deeper, utilizing additional filters like the average long and short positions of retail traders. These insights are publicly available, and while I won’t name specific sources to avoid any hint of hidden promotion, I’ll give you a clue: look for a website with the word "book" in its title. 📚 For years, I’ve relied on this data, and it has proven to be both reliable and insightful. The average positions of market participants serve as both filters and indicators. But what do I mean by indicators? Let’s break it down. When the price interacts with these levels, it reveals the market sentiment. For instance, if the price is below the average long position and breaks through easily, it’s a bullish sentiment. Conversely, if it hovers below the level and struggles to break through, that’s still bullish, as it indicates buyers are being drawn into profitable territory. Now, let’s flip the script for the bears: if the price breaks down from above or struggles below the average short position, that’s a bearish sentiment. The price isn’t responding to sellers, dragging them into a profit land. There’s more. Often, you’ll notice different behaviors near these key levels, allowing you to enter positions with an incredible risk/reward ratio of 3:1, 5:1, or even better! This clarity gives you insight into the current market mood—who’s being punished and who’s favored at that moment. Now, let’s take a look at the screenshot of the British Pound futures chart. Here’s what you’ll see: - A green line representing the average long position of retail traders. - A red line for the average short position. - The breakeven point of a put option contract for the June futures expiring on May 22, with 1,320 contracts at a strike of 1.295. Take a moment to study the chart. What do you observe? 🤓 Ok, breathe in, breathe out. Tomorrow, we’ll dive deeper into this analysis. Don’t forget to subscribe so you won’t miss the continuation of this story! The insights I’ll share are definitely worth your time, as I aim to shift your perspective on the market by demonstrating a clear methodology without relying on indicators or technical patterns. Stay tuned; it’s going to be incredibly valuable! 🚀✨
CME:6B1!Education
by ClashChartsTeam
#WALUSDT continues its bearish momentum 📢 As long as the price stays under $0.6000 — short BYBIT:WALUSDT.P bias remains valid. 📢 Watch for further weakness! 📉 SHORT BYBIT:WALUSDT.P from $0.5794 🛡 Stop loss: $0.6000 🕒 Timeframe: 1H ✅ Overview: ➡️ The chart shows a clearly formed and broken Bearish Rectangle, confirming a short setup after price exited the range to the downside. ➡️ The $0.6090 support level has turned into strong resistance. ➡️ Entry at $0.5794 follows a textbook breakdown and retest structure. ➡️ Target area aligns with the volume-based support near POC $0.515, offering solid R:R. 🎯 TP Targets: 💎 TP 1: $0.5725 💎 TP 2: $0.5665 💎 TP 3: $0.5600 📢 Bearish structure confirmed with increased volume. 🚀 BYBIT:WALUSDT.P continues its bearish momentum — downside potential remains active!
Short
by MoriartyTrading
Watch for a breakout from the #BANKUSDT📍 The price of MEXC:BANKUSDT.P is approaching the apex of the pattern — a breakout from consolidation is expected soon. The main scenario favors a downward breakout, with a short opportunity if confirmed. 📍 Important note: ➡️ Don’t rush the entry! Wait for a clear breakout from the pennant and confirmation of the direction. 📍 Beware of fakeouts — the key to success lies in confirmation with candle closes and volume. 📉 SHORT MEXC:BANKUSDT.P from $0.04118 🛡 Stop loss: $0.04284 🕒 Timeframe: 1H 📢 Overview: ➡️ The main structure of MEXC:BANKUSDT.P remains bearish, showing consolidation after a drop. ➡️ A break below the $0.04118 support will trigger the Bearish Pennant pattern. ➡️ Volume increase on the breakout will confirm sellers' dominance. 🎯 TP Targets for SHORT: 💎 TP 1: $0.04010 💎 TP 2: $0.03900 💎 TP 3: $0.03815 📢 Entry conditions for MEXC:BANKUSDT.P : Enter only after a clear breakdown and candle close below $0.04118, ideally with volume confirmation. 📢 If the price holds above $0.04588, the structure may be invalidated, and the short scenario should be reconsidered. 📈 LONG MEXC:BANKUSDT.P from $0.04652 🛡 Stop loss: $0.04501 🕒 Timeframe: 1H 📢 Overview: ➡️ Price is compressing inside a Bearish Pennant, but there is still potential for a fake breakout upward. ➡️ A breakout above the pennant on strong volume may lead to a bullish impulse. ➡️ The $0.04652 level is key for a long entry after confirmation. 🎯 TP Targets for LONG: 💎 TP 1: $0.04760 💎 TP 2: $0.04870 💎 TP 3: $0.04970 📢 Entry conditions: Enter only after a confident breakout above $0.04652 and a solid candle close (preferably with high volume). 🚀 Watch for a breakout from the MEXC:BANKUSDT.P structure and trade only in the confirmed direction. Either way — there is good movement potential and the R/R ratio is solid in both directions!
MEXC:BANKUSDT.P
by MoriartyTrading
#PARTIUSDT is showing signs of a reversal🚀 The price BYBIT:PARTIUSDT.P is showing signs of a reversal after a prolonged downtrend. 🚀 The scenario becomes more likely if the price holds above $0.1520 with increasing volume. 🚀 Watch for a breakout and confirmation above the $0.1500–$0.1520 zone — this would strengthen the bullish setup. 🚀 If volume picks up during the continuation of the move, a quick push toward $0.18 is possible. 📈 LONG BYBIT:PARTIUSDT.P from $0.1533 🛡 Stop loss: $0.1492 🕒 Timeframe: 1H ✅ Overview: ➡️ The price has broken out above the Bearish Flag, confirming a break in the downtrend structure. ➡️ The Double Bottom formation increases the likelihood of an upward move. ➡️ Entry at $0.1533 is just above the resistance zone and confirms the breakout. ➡️ The upward potential remains toward $0.1600 and beyond, aiming for the POC volume area. 🎯 TP Targets: 💎 TP 1: $0.1555 💎 TP 2: $0.1575 💎 TP 3: $0.1600 📢 Support zone: $0.1500–$0.1510 — must hold to maintain the bullish structure. 📢 If price consolidates above $0.1555, expect a potential acceleration toward $0.1600. 📢 A drop below $0.1492 invalidates the scenario — stop is mandatory. 🚀 BYBIT:PARTIUSDT.P breaks key level — bullish signal confirmed! Watch for continuation!
Long
by MoriartyTrading
GBP/JPY short🧩 GBP/JPY Swing Short Setup 📍 Entry: Sell Limit: 194.75 🛡️ Stop Loss (Above Resistance Wick): SL: 196.20 → Covers minor breakout/fakeout above 195 zone while protecting against invalidation 🎯 Take Profits: TP1: 190.00 (Structure floor + first major reaction zone) TP2: 185.00 (Clean horizontal support and demand zone) TP3 (Swing Target): 180.00 (Large macro target — monthly structure retest) 🧠 Rationale Recap: Price is consolidating just under multi-year resistance (195–200) Fundamentals align: GBP weakening, JPY strengthening in risk-off environment Strong R:R, clean rejection zone, and macro pressure potential
Short
by tradercat2025
#NEIROETHUSDT maintains bearish momentum❗️Keep an eye on the BYBIT:NEIROETHUSDT.P — the structure suggests a possible local rebound or a breakout of the wedge to the upside. Opening a short here goes against the structure and lacks confirmation 📉 SHORT BYBIT:NEIROETHUSDT.P from $0.01612 🛡 Stop loss $0.01693 🕒 Timeframe: 1H ✅ Overview: ➡️ The chart shows BYBIT:NEIROETHUSDT.P forming a bearish continuation move after breaking out of a consolidation range. ➡️ Entry at $0.01612 corresponds to a retest of former support turned resistance. ➡️ Selling volume is increasing, supporting bearish pressure. ➡️ The POC level at $0.02084 remains far above the current price, highlighting downward imbalance. 🎯 TP Targets: 💎 TP 1: $0.01586 💎 TP 2: $0.01535 💎 TP 3: $0.01500 📢 Additional scenario notes: 📢 A false breakout above the entry zone is possible — wait for confirmation of the $0.01620 break. 📢 Watch for volume spikes near TP1 and TP2 — could signal partial take profits. 📢 If price reclaims $0.01693, the setup becomes invalid. 🚀 BYBIT:NEIROETHUSDT.P maintains bearish momentum — downside move expected!
Short
by MoriartyTrading
#VOXELUSDT is in an uncertain zone📊 BYBIT:VOXELUSDT.P Scenario – Potential for Movement in Both Directions! 🚀 BYBIT:VOXELUSDT.P is forming a bullish Falling Wedge pattern — a breakout to the upside could provide a great risk/reward long opportunity! At the current stage, the BYBIT:VOXELUSDT.P market is shaping a scenario where both directions — long or short — are possible, depending on the reaction to key levels. ✅ Overview ➡️ The chart shows two key formations:  🔻 Bearish Pennant – a bearish continuation pattern, which has already played out to the downside.  🔻 Falling Wedge – a potentially bullish pattern, and price is now near the lower boundary of the wedge. ➡️ A weak bounce on volume is visible, and price is approaching a key resistance zone — a potential target if the wedge breaks out upward. ➡️ If the wedge plays out, a bullish impulse is expected. Timeframe: 1H 📈 LONG BYBIT:VOXELUSDT.P from $0.03406 🛡 Stop loss: $0.03322 🎯 TP Targets: 💎 TP 1: $0.03456 💎 TP 2: $0.03526 💎 TP 3: $0.03586 ➡️ This scenario becomes viable if price breaks and consolidates above the $0.03126–$0.03200 zone, opening the path toward the POC zone at $0.03676. ➡️ Volume should increase on the breakout to confirm momentum. 📉 SHORT #VOXELUSDT from $0.03016 🛡 Stop loss: $0.03126 🎯 TP Targets: 💎 TP 1: $0.02960 💎 TP 2: $0.02900 💎 TP 3: $0.02860 ➡️ This scenario activates if the price fails to rise and pulls back below $0.03000. ➡️ Volume should confirm seller pressure. ➡️ The chart shows lower highs — risk of further decline remains. 📍 The price is currently in a critical decision zone , between the short entry level and the potential breakout zone for a long. 📍 The support below is strong — it has held the price several times already. No clean breakdown has occurred yet, which increases the chances of the wedge breaking upward. 📍 Avoid rushing into a position — wait for a clear confirmation in either direction (e.g., strong impulse on volume and consolidation above/below key levels). 📢 General advice on this asset: 📢 Wait for direction confirmation — both long and short setups are valid. 📢 Stay flexible and adjust to the move. 📢 Manage your risk carefully — do not enter without a signal. 🚀 BYBIT:VOXELUSDT.P is in an uncertain zone — the signal could play out in either direction. Watch the key levels and enter only after confirmation!
by MoriartyTrading
#TRUMPUSDT — Breakdown or Reversal Confirmation🚀 BYBIT:TRUMPUSDT.P — Breakdown or Reversal Confirmation? Full Breakdown on 1H & 4H! Let’s start by analyzing the charts on different timeframes: ✅ On the 1H chart , we clearly see a reversal pattern — Inverted Head & Shoulders — and the neckline breakout has already occurred. The volume on the breakout is high, which confirms the strength of the signal. ➡️ The target for this pattern is around $10.75–$10.80, which also aligns with the upper VPOC level from the previous range. ➡️ The POC level for BYBIT:TRUMPUSDT.P is $10.159, which may now act as support — this can be a potential entry zone. ➡️ Nearest resistance is at $10.40. A breakout above this level could trigger an impulse move towards $10.75–$10.80. ✅ On the 4H chart , a bearish flag is forming, which could potentially push the price lower — but this scenario hasn't played out yet. ➡️ There's also a local double bottom, confirmed by a price bounce. A retest of the flag’s lower boundary will be a key moment. Let’s break down the patterns: ✅ 1. Inverted Head & Shoulders (1H) – A classic bottom reversal formation. ➡️ The neckline breakout occurred on increased volume — a key confirmation for a long setup. ✅ 2. Volume (Volume Profile & Bars) – Strong volume spike during the breakout confirms buyer interest. ✅ 3. Price broke out of consolidation – We’ve seen an impulsive breakout and the price is holding above the neckline. ✅ 4. Local Market Structure Break (MSB) – A shift from local downtrend to an emerging uptrend. 📍 Key Point: If the price holds above $10.40, this confirms a breakout from the descending channel, increasing the chance of reaching $10.75–$11.00. 📍 Price must also stay above $10.15 and not fall back into the previous range. A retest and bounce from this level would serve as further confirmation. 📢 If the price drops back below $10.15 and breaks $9.87, the “Inverted Head & Shoulders” pattern will be invalidated. In that case, a bearish trend will likely resume and a short toward $9.50–$9.00 could be considered. 📢 On the 4H chart, the risk of the bearish flag playing out still remains. We are monitoring the structure closely — a sharp pullback is possible. 📢 The volume zone around $10.15–$10.20 is key. As long as the price stays above it — the long scenario remains dominant. 🚀 As of now, BYBIT:TRUMPUSDT.P has strong technical reasons to support a long bias, especially if it holds above $10.40 — that would open the door to $10.75–$11.00. Risks remain — particularly around the 4H bearish flag — but for now, bullish momentum prevails. 🚀 BYBIT:TRUMPUSDT.P still holds upside reversal potential — LONG scenario remains the priority!
by MoriartyTrading
3
#GPSUSDT is forming a bearish structure📉 Short BYBIT:GPSUSDT.P from $0.02888 🛡 Stop loss $0.02952 🕒 1H Timeframe ⚡️ Overview: ➡️ The main POC (Point of Control) is at 0.03326, marking the highest volume zone and a major resistance above the current price. ➡️ The 0.02952 level acts as local resistance and an ideal stop placement. ➡️ Price BYBIT:GPSUSDT.P has already tested the $0.02888 support — a confirmed breakdown could trigger stronger downward momentum. ➡️ Volume is increasing on the decline, supporting the sellers' pressure. 🎯 TP Targets: 💎 TP 1: $0.02850 💎 TP 2: $0.02810 💎 TP 3: $0.02787 📢 Watch for a clean break of the $0.02888 level — it could be the entry trigger for this short setup. 📢 If price pulls back above $0.02952, the short scenario becomes invalid. BYBIT:GPSUSDT.P is forming a bearish structure — continuation to the downside is expected if support fails.
Short
by MoriartyTrading
#ARCUSDT is showing signs of reversal📉 Short BYBIT:ARCUSDT.P from $0.06780 🛡 Stop loss $0.07117 🕒 1H Timeframe ⚡️ Overview: ➡️ The main POC (Point of Control) is at 0.05873, indicating the area with the highest trading volume. ➡️ The 0.07117 level acts as strong resistance where the price previously reversed. ➡️ The chart shows a potential topping structure followed by a decline. ➡️ Volume concentration between $0.065 and $0.06210 suggests key zones for potential profit-taking. 🎯 TP Targets: 💎 TP 1: $0.06510 💎 TP 2: $0.06210 💎 TP 3: $0.06050 📢 Watch the key levels and enter after confirmation! 📢 The price has already started to move down — downside momentum remains strong. 📢 The TP levels are near a previous consolidation zone, allowing quick target execution. BYBIT:ARCUSDT.P is showing signs of reversal — considering shorts with clear downside targets!
Short
by MoriartyTrading
#VANAUSDT is forming a confident bounce from key levels📉 LONG BYBIT:VANAUSDT.P from $8.180 🛡 Stop loss $8.000 1H timeframe ❗️Before entering the trade, closely monitor the levels. If the price consolidates above $8.180 with volume, this confirms the entry signal. ✅ Overview BYBIT:VANAUSDT.P : ➡️ On the chart, we can see that after a downward movement, the price formed a local bottom around $8.000, followed by an upward impulse. ➡️ A structure resembling a reversal pattern has appeared: the price broke through a slanted resistance (blue line) and consolidated above $8.180, indicating weakening sellers. ➡️ The price is now moving toward a resistance zone marked as POC (Point of Control) at $8.353, which could be the first target. ➡️ The entry is set at $8.180, aligning with the breakout level, supported by increasing volume and a short-term uptrend. The volume profile on the left shows a low-liquidity zone above the current price (between $8.345 and $8.590), which may allow the price to quickly reach the TP levels. 🎯 TP Targets: 💎 TP 1: $8.345 💎 TP 2: $8.590 💎 TP 3: $8.775 ⚡️ Plan: ➡️ Monitor the price reaction at TP1 ($8.345) — a pullback is possible. It’s recommended to close part of the position. ➡️ Wait for confirmation of the breakout above $8.180 (already happened, price is above). ➡️ Enter LONG after a retest (with volume) — in this case, the retest has already occurred, and the price is moving up. ➡️ Place the stop below the last low — at $8.000. BYBIT:VANAUSDT.P is forming a confident bounce from key levels, and if it holds above the entry zone, we expect an upward movement!
Long
by MoriartyTrading
#FORMUSDT: Quick Breakdown of a Long Setup!📉 Long BYBIT:FORMUSDT.P from $1.9037 🛡 Stop Loss: $1.8313 🕒 1H Timeframe ⚡️Overview: ➡️ Current Price: $1.8831 — this is where BYBIT:FORMUSDT.P is trading right now. ➡️ The price recently dropped from around $2.0000 to $1.4000 — a sharp decline! But then it started recovering and is now in a consolidation zone. ➡️ Volume: At the bottom of the chart, you can see volume bars. There was a particularly large volume at the $1.4000 level, where the price reversed. This suggests a lot of activity — possibly big players starting to buy. ➡️ Key Levels: The right side of the chart shows important price levels: ➡️ $1.8313 — stop loss to protect us from losses. ➡️ $1.8932 and $1.88313 — the nearest resistance levels that the price needs to break to move higher. ➡️ $1.7464 — a support level below, in case the price goes down. 🎯 TP Targets: 💎 TP 1: $1.9690 💎 TP 2: $2.0400 💎 TP 3: $2.0890 ⚡️ Plan: ➡️ Entry Point: $1.9037 — this is the level to enter the buy. The price is currently slightly below ($1.8831), so we need to wait for it to rise to this mark. ➡️ Stop Loss: $1.8313 — if the price falls below this, the trade will close with a small loss to minimize risks. Risk/ Reward: If we calculate, the distance from the entry to the stop loss is $0.0724, and to TP1 — $0.0653 (a ratio of nearly 1:1). To TP2 — $0.1363 (1:1.88), and to TP3 — $0.1853 (1:2.56). This is a good profit potential if the price moves up! 📢 The BYBIT:FORMUSDT.P price just bounced off the strong $1.4000 level, where there was high volume. This could be a signal that big players started buying, and the market is ready to rise. 📢 The $1.9037 level (entry point) aligns with the POC (Point of Control) — the zone with the highest trading volume, which often attracts the price. 📢 If the price breaks the resistance at $1.8932, it could easily reach $1.9037 and then move toward our targets. 🎯 How Does This Signal Relate to the Market? The recent news about the resolution of the #Ripple vs. #SEC case, which I wrote about earlier, creates a positive backdrop for the entire crypto market. ➡️ When major projects like #Ripple gain clarity, it adds confidence to investors. ➡️ Altcoins like BYBIT:FORMUSDT.P can catch this wave of optimism. ➡️ If the market continues to rise, BYBIT:FORMUSDT.P has a chance to break resistance and move toward our targets! ➡️ Important: The crypto market is volatile, so don’t forget about risk management. Don’t risk more than 1-2% of your deposit on a single trade.
Long
by MoriartyTrading
#FARTCOINUSDT is showing bullish momentum📈LONG BYBIT:FARTCOINUSDT.P from $0.3590 🛡 Stop Loss: $0.3465 🕒 Timeframe: 1H ⚡️ Overview: ➡️ BYBIT:FARTCOINUSDT.P is showing bullish momentum on the 1-hour timeframe. ➡️ The price has recently broken through the resistance zone at $0.3590, which could serve as an entry point for a long position. ➡️ The chart shows an accumulation zone in the $0.3374–$0.3590 range, where volumes (visible on the volume profile to the left) indicate strong buyer interest. ➡️ The POC (Point of Control) is at $0.3462, confirming support below the current price. ➡️ The price is maintaining an uptrend structure: higher lows and highs are forming, and the breakout at $0.3590 is accompanied by increasing volumes, signaling bullish activity. ➡️ The #RSI (14) indicator on the 1H timeframe is at 65, indicating bullish momentum without being overbought, leaving room for further growth. 🚀 Plan: ➡️ Entry: Buy above $0.3590 after the 1-hour candle closes above this level to confirm the breakout. ➡️ Stop Loss: Set at $0.3465 (below the support zone and POC), which provides a 3.5% risk from the entry point and protects against false breakouts. ➡️ Risk/Reward Ratio: From 1:2 (for TP1) to 1:5.5 (for TP3), making this trade attractive from a risk management perspective. 🎯 Take Profit Targets: 💎 TP1: $0.3660 (nearest resistance level, +1.9% from entry) 💎 TP2: $0.3730 (zone of previous highs, +3.9%) 💎 TP3: $0.3790 (key growth target, +5.6%) 📢 A price consolidation above $0.3590 with sustained volume increases the likelihood of reaching the targets. The $0.3660 and $0.3730 levels may act as profit-taking zones, so monitor price action in these areas. 📢 Risks: If the price drops below $0.3465, it could signal a false breakout and a return to the consolidation zone of $0.3374–$0.3465. In this case, consider reassessing the position. 📢 Market Context: The rise of BYBIT:FARTCOINUSDT.P may be supported by the overall positive sentiment in the crypto market. As of March 19, 2025, BYBIT:BTCUSDT.P is trading steadily above $90,000, creating a favorable backdrop for altcoins. BYBIT:FARTCOINUSDT.P is showing strength and potential for growth on the 1H timeframe. A confirmed breakout above $0.3590 is your signal to act! We expect a move toward the $0.3660–$0.3790 levels.
Long
by MoriartyTrading
Gold (XAU/USD) 4H Chart Analysis: Resistance Test & Potential BrPrice Trend: The chart shows a steady upward movement in the price of gold, starting from late February into March 2025. The price is currently around $2,917.25 and has reached near the resistance level marked on the chart. Resistance Zone: The resistance area, located between $2,911 and $2,920, seems to be a crucial level. Gold has faced difficulty breaking through this level multiple times, as seen in the sideways movement after hitting the resistance. Target Level: The target above this resistance zone is marked around $2,960, indicating the potential for further price appreciation if gold can break above the current resistance. Price Action and Potential Breakout: There's a potential for a breakout as the price appears to be forming a bullish structure near the resistance, indicating that if gold manages to break above this zone, it could continue its upward trajectory toward the target area. Volume and Market Sentiment: The volume indicators on the lower part of the chart are not heavily discussed here, but there might be a correlation with market strength. The chart suggests potential consolidation before a move upward if the resistance breaks. Conclusion: Gold is currently testing the resistance area, and if it successfully breaks through, it could aim for the target level around $2,960. Keep an eye on this price level as it could signal further bullish movement.
FX:XAUUSDLong
by Jameshead007
1
The Steps to Identify Key Levels on Chart Scalping Opportunity)**The Steps to Identify Key Levels on Chart:** 1. **Support & Resistance:** - Identify areas where the price has bounced multiple times. - Based on your chart, key **support** seems around **2900**, while **resistance** could be near **2925-2930**. 2. **Trendlines:** - Check if highs/lows are forming a triangle pattern. - If lower highs and higher lows appear, it could be a **symmetrical triangle** (potential breakout). 3. **Moving Averages & Volume:** - The **moving averages (EMA)** are close together, suggesting consolidation. - Look for a volume spike near breakout points (above 2925 or below 2900). ### **Possible Chart Pattern Scenarios:** - If price **breaks above 2925-2930 with volume**, it could be a **bullish breakout**. - If price **drops below 2900**, it may confirm a **bearish breakdown** (continuation down). - If price keeps bouncing between 2900-2925, it's likely **range-bound** (scalping opportunity).
OANDA:XAUUSD
by elitetrader9090