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Is it possible to sell WTI now?Let me analyze WTI from my point of view. If you look back at the chart above, at the 61.8% Fibonacci retracement level (Fib 1) at the price of 45.48 has been formed, which means we hope to sell it. The first target is at the price of 43.90 at the Fibonacci retracement level of 161.8% (Fib 2), and then the second target is at the price of 42.85 at the level of 261.8% (Fib 2). If it turns out that the price is fighting the upward direction and crosses the price of 45.60 (Border line), then the possibility of WTI will continue upwards.
TVC:USOILShort
by POSINEXA
Gold Has Reached The BUY ZONE - Buy Now Before It Goes Up AgainIn this technical analysis I will discuss in-depth how you can prepare for some gold trades this week. From my previous ideas you can see why I decided to add certain horizontal levels to the chart and how to use them. You might also have seen that I have been quite bullish on gold and that I was surprised how much it has dropped recently. That's why this time I am doing things slightly differently. Instead of highlighting a specific price zone, I am highlighting the entire area between $1750 and $1800. This is a zone where the price might fluctuate but if you can still get a buy in anywhere here (obviously the lower the better) you'd be in a great position for the coming week. If you buy anywhere in this zone I'd say you probably got a great price for Gold. Knowing you can buy it now at between $1750 and $1800 while it has been $2080 just recently seems like a great deal. The price of gold is already moving upwards if you look close on the 1h and seems to get close to the first zone of resistance. This will be a major test to see if the bulls are strong enough to push gold up again or whether the bears prevail and we test the $1750 levels once again. In any case I this retracement as a fantastic buy opportunity. And if you're in doubt because you see the negative sentiment on the lower timeframes, make sure to zoom out one time and look at the gold chart on the weekly or monthly time frame. You'll see that on average it has a great tendency to go up over time, so a retracement this big I think is a great buy opportunity. -Trading-Guru
OANDA:XAUUSDLong
by Trading-Guru
35
It looks like a good opportunity to sell Brent (UKOIL) nowIt can be seen from the chart above, that the price of Brent (UKOIL) at 48.40 has touched the Fibonacci retracement at the 61.8% level (Fib 2 left) and there is a big possibility of a downward movement with the first target at 46.66 at the 161.8% Fibonacci retracement level (Fib 2 right), and continued with the second target at the price of 45.57 at the level of 261.8% Fibonacci retracement (Fib 2 right). If it turns out that the movement is the opposite towards the upside by passing the price at 48.42 (Border line), then the price is likely to go up.
TVC:UKOILShort
by POSINEXA
In-Depth Review of Gold - Why Should You Enter a LONG Trade Now?Hi everyone, in this technical analysis I will share how you can use price action to explain the recent price moves, along with my outlook on the future price movement for the next week. After seeing the result of the vaccine announcements on the price, I expected that gold was at a temporary low. Honestly, it was scary to see how the price just went through the support like a knife through butter. The question arises, how do we trade this? I say based on risk-reward principles you should enter this with a long position. The reason being that we know the price has dropped so much it is relatively 'low' right now. In the end trading works because of two main concepts. We have risk-reward and buying low + selling high. The risk-reward is defined in this case by making sure you put a stop loss below the bottom support zone, maximizing your risk on ~2%, while your take profit should be near the resistance level II or III, putting your potential gain on 5-10%. Even if you are wrong 3 out of 4 times you'd still be able to make a profit with such a set-up. The next part is about buying low and selling high. Buying into a long position for an asset that has dropped so much over the recent months is the clear text-book definition of buying low. Of course we can only tell in retrospect if it was low enough, but this is the moment to enter a long position. I tried to make the chart as self-explanatory as possible. I hope the statements above can be seen directly on the chart. In case you have any questions or comments, feel free to leave a message below. -Trading-guru
OANDA:XAUUSDLong
by Trading-Guru
21
Gold’s weekly outlook: Nov 23-27Gold remained confined in its range with repetitive moves which not only solidified the demand area but also threw light over the resilience of the price to fall below the support even after 2nd vaccine news mirroring the last week’s move. With the vaccines rolling out in such a manner it might itself create a totally new wave of geopolitical rift over the availability and usability as most large economies are in later stages of trials of their vaccine candidates, also it should not be seen as the pandemic risk to be over soon due the vaccines as another news flow remains attached to this development of the coronavirus being a genetically evolving one where these vaccines might not be sufficient in longer run or totally. Coming to the pandemic, its unleashing even more pain with increased death toll as record surges are seen in fresh cases across the globe with hospitals/medical facilities in many developed countries getting overwhelmed which is a matter of great concern. Apart from the ongoing catastrophe, political developments too continued playing its part in contributing to uncertainty as Donald Trump is refusing to concede even after recounts failed to change the outcome still keeping the air foggy over smooth transition and his policy stance in the remaining days of presidency. Yet again all situations point towards a higher gold price with uncertainties looming at large. To watch next week – Brexit drama and other important economic data. On the chart – Gold more or less repeated last week’s move as it bounced off from the support again even after a 2nd announcement of vaccine clearly suggesting the trend. These bounce backs after quite sharp fundamental led falls definitely point towards a bottom creation and holds the key to the reversal as technicals remain sound for higher prices with most pattern breakouts remaining intact. We have 2 scenarios- 1. Gold closed above the support, till this is held it can go to $1875. If this is crossed it can move towards $1886. And if this is taken out it can rally to $1901. 2. Bearishness yet again failed to capitalize except scalp trades. Bullish view – Bulls had a repeat of the last week where the price declined sharply over the news of 2nd vaccine but recovered equally fast after bouncing off from the support zone which clearly suggests that bulls continue to remain in the driving seat even after these pullbacks. Such a move only strengthens the trend as supports gets solid after continuous retests. Bulls remain fundamentally buoyed as well since pandemic is refusing to soften even a tiny bit rather its inflicting more pain due to weather conditions (as expected) while other geopolitical worries remain elevated. Technically, gold looks to have created a bottom and is expected to head higher till this zone holds. Bearishness continues to remain out of context. On larger terms, gold continues to remain bullish and prices are expected to head higher. Possible trades are on both sides but mainly on upside, gold can be bought above $1879 for the targets of $1886 and $1901 with a stop loss placed below $1869. Longer term target $1921. Dips towards support (and breakout region) can be used to create longs for the above mentioned targets. Shorts can be useful for scalp trades only.
TVC:GOLDLong
by vanimator
OIL back into bearish market ?Hi traders: Haven't traded oil for quiet sometimes since the crushed, but not it seems to shaping up for some good opportunities for the sell. Overall we see price action has been in a sideway consolidation period for awhile after the bullish push up. We see this sideway correction, ascending in nature, finally broken down, showed us a strong bearish impulse. then price begin to form this expanding type of structure, good indication the bearish momentum can resume. Now we see price is at the top of this structure ,and a LTF pushed down has happened. I would wait for the continuation correction here to get in the sell down. Thank you
TVC:USOILShort
by jojofang0901
3
Gold’s weekly outlook: Nov 16-20Gold mirrored past week’s candle yet again but on the downside retesting the breakout and in the process creating a double bottom which is an extremely bullish sign adding to the already bullish price action post its 5 week consolidation/pattern breakout. Politically, situation in America remains largely same with Donald Trump still refusing to concede the already lost race of the White House as he is still pursuing legal route to overturn the results which doesn’t pose good for the overall economic outlook for America as uncertainty still hangs in the air even though the result might not get changed at all. Speaking of the pandemic, its creating quite a bit of ruckus which is adding to the injury as the spread is getting quicker and fatal since hospitals are getting overwhelmed in badly affected countries and in some other ones the impact of third wave is felt as well which is a deeply concerning sign as it provides certainty of another wave in countries which are still dealing with either later stages of wave one or are amidst wave two. Though some success has been achieved on the vaccine front with Pfizer partnered along with a German company claiming to have created one with over 90% success rate (which was the only reason for the fall in gold price last week) still its not a 100% and convincing people to get vaccinated will be a tough ask plus the availability of it will take time as well with many timeframes darted towards the public as in sense of months. With winter almost on the verge of setting in, already the rise in cases are creating enough pandemonium for countries to have even stricter measures with the most effective being the total lockdown which many are still avoiding as it would lead to the economic collapse again. All these happenings point towards a sustained bull run as gold is considered the best in safe haven asset class. To watch next week – Earnings and other important economic data. On the chart- Gold fell back below $1900 again as positive developments on vaccine front created a stir in the metal price though what happened on the chart only strengthens the bullish trend as the strong reversal pattern of double bottom got created along with a successful retest of the breakout. We have 2 scenarios – 1. Gold closed above the support, till this is held it can go to $1901. If this is crossed it can move towards $1921. And if this is taken out it can rally to $1945. 2. Bears were hurried into the picture only to get stopped out as the supports held strong. Bullish view – Bulls faced the heat of the much feared/dared news regarding a vaccine but the losses narrowed quickly with yellow metal creating a double bottom and rising back. Even the breakout of past week was also tested successfully which augurs well for the bulls in the longer run. With most of the events and major game changers out of the way and gold adhering to its supports pretty well it seems that the prolonged bull run might get underway after many rocky weeks. Fundamentals remain supportive as uncertainty remains unmatched as the pandemic continues to roil the world with its second wave and geopolitical risks remaining at highs due to change in the Presidency in America while technically gold is at its best with multiple bullish pattern breakouts. Bearishness remains off the table post the double bottom. On larger terms, gold remains bullish and prices are expected to head higher. Possible trades are on both sides but mainly on upside, gold can be bought above $1901 for the targets of $1921 and $1945 with a stop loss placed below $1891. Longer term target $1963. Dips towards support (and breakout region) can be used to create longs for the above mentioned targets. Shorts can be useful for scalp trades only.
TVC:GOLDLong
by vanimator
GOLD Sell setupHi traders: Similar like my analysis on Silver, Gold is also shaping up to have the bearish continuation price action. We see the HTF price action is beginning to show us the reversal movement as structures continue to develop. We first see the bearish push down follow by the larger correction. Followed by another bearish push down, and once again, develop a larger continuation correction. Latest price action shows us a LTF quick impulse down, currently at the bottom of the HTF structure. We see the LTF correction is in the making, very good sign for that continuation to happen once correction finishes. Look for further downside opportunities once we see the structure completes. thank you
OANDA:XAUUSDShort
by jojofang0901
12
Silver look for these 2 sell entriesHi everyone: Both Gold and Silver are developing into more bearish price action as we see. Here on Silver, we see price had the clear bearish impulse down from the previous highs, and begin to form this large continuation correction. Price had a few swing highs and lows, good indication this structure can be completed soon. Latest price we see a LTF push down, followed by a correction in the making. I see 2 possible sell options, either Option A to wait for that LTF correction to complete and look for sell stop entries or Option B to wait for one more push to the upside, and wait for reversal price action on the LTF. Thank you
OANDA:XAGUSDShort
by jojofang0901
4
Gold’s weekly outlook: Nov 09-13Gold finally had a breakout from the range it had got stuck in since last 5 weeks on the back of a lower dollar mainly though many other reasons attributed to its rise as well. With U.S presidential elections out of the way though Donald Trump hasn’t yet conceded formally and is taking a legal route to salvage/make up lost states, it seems pretty clear that the Democrat contender Joe Biden has won with quite a margin and his victory in itself has raised an unequaled amount of uncertainty as its obvious from his mandate/speeches that he will overturn most of the decisions/policies instated by the Trump administration be it geopolitical or fundamentals keeping the world on toes again. Not going into politics much since its a drama of its own, the absolute state of the world remains fragile with new cases hitting milestones almost everyday which is a matter of concern as the 2nd wave of the pandemic looks more brutal than first given the fatalities and the speed of spread though historically the 2nd wave generally is less damaging so again a confusion generator. Economic data is still not confirming the ongoing effect of the coronavirus hit growth as it continues reflect recovery which also may just be an eyewash. With winter almost knocking at the door, countries will find it really hard to battle the pandemic which generally worsens even more in such climatic conditions. Lastly on vaccine front there remains no confirmation of any nor any in consideration for FDA approval, thus the economic outlook remains grim and this should bode well for the yellow metal. To watch next week – Brexit endgame and other important economic data. On the chart – Gold had a big green bar after many weeks which not only broke the consolidation/triangle pattern but also closed above $1950s after a gap of 6 weeks. This move not only wiped out weak hands (as the retail trap was successful) but also placed gold into a highly bullish trend on technical aspect which had gone missing even as fundamentals were lending really strong support to the price. The breakout was long awaited which now should remain a clear case for new highs and with dollar still pursuant in breakdown the shine is back for gold. We have 2 scenarios – 1. Gold closed above the support, till this is held it can go to $1963. If this is crossed it can move towards $1989. And if this is taken out it can rally to $1208. 2. Bearish bets remain out of the scene given the breakout except scalp trades. Bullish view – Bulls emerged out of the consolidation stronger than ever pushing the price back above the previous highs ($1921) as dollar continued to fall. A significant rise in uncertainty also contributed to the length of the green bar as the virus cases continue to rise auguring fears of a total lockdown again as partial or region specific ones are not that effective in curbing the spread. Also the change of presidency in U.S remains a huge cause of concern given its earlier drawn implications and the mandate of the voted president-elect Joe Biden which suggests most of the policies/decisions of the Trump administration will be overturned sending shockwaves to the global economy again. Until last week’s move gold was fundamentally buoyed to a great extent but now the technicals have gained more light as the pattern/consolidation breakout suggests a fresh leg of upmove which should lead the price to a new high and also this move/breakout allows gold to resume the rally towards $2700 plus. Bears remain cornered post such a bullish breakout. On larger terms, gold continues to remain bullish and prices are expected to head higher. Possible trades are on both sides but mainly on upside, gold can be bought above $1963 for the targets of $1989 and $2008 with a stop loss placed below $1951. Longer term target $2033. Dips towards support (and breakout region) can be used to create longs for the above mentioned targets. Shorts can be useful for scalp trades only.
TVC:GOLDLong
by vanimator
2
The Most Important Levels for GOLD After The ElectionIn this technical analysis I will describe the most important levels for Gold at the moment. I will walk you through each of the levels on the chart and explain how you can use them. Based on empirical evidence, we can observe that the election moving in favor of Biden is good for the price of gold. We have seen that as Biden moves closer to a victory, the price of gold has moved linearly up as well. The future value of conclusions often get included straight away into the price, so don't expect a huge volatility spike after the final results are live. Instead, the real volatility is happening at this moment. This also leads to common mistakes by traders. For example, if a future decision would be expected to lead to an increase in price, people start already buying the asset when the probability of that decision happening gets higher. Now, when the actual decision makes the price can even decrease as the only thing that truly happens is calibrating the height of the earlier expectations with the actual moment of the decision. The price only moves based on the difference between the recalculated probabilities and the actual price, and not based on the final decision itself. Let's now look at the most important horizontal zones for Gold and why I added them to the chart. Horizontal Support Level II This is a place where we can find really solid support. The level around 1850 is a relatively low price area where the price movements have bottomed earlier on. It is not likely that the price will move anywhere below it soon, and as such this horizontal level can be used for a stop loss on any long trade. Horizontal Support Level I This zone is important mostly for determining if the price trend continues. The price is very bullish, but after a sudden spike up there is often a retracement. This horizontal zone can be used to see whether there is some support to continue a second bull trend. Horizontal Resistance Level I + II The first and second horizontal resistance levels could be a great level to be used for placing a take profit. Both of these have proven to show resistance earlier on and the price might face resistance here again. Especially zone II is very interesting here as it is near the psychological level of the $2,000 mark for gold. I suggest placing any take profit for a long position at least slightly under $2,000 to maximize your chances on taking profit. Horizontal Resistance Level III Level three can also be used for a bullish target setting. I expect that after breaking through each of the subsequent horizontal levels, the price will consolidate for a while between the levels. Especially for scalp traders, the moves between zones I, II and III can be great to get a few trades in on smaller time frames such as the 5m, 15m and the 1h. Horizontal Resistance Level IV All-time highs are a massive area of resistance. It is often very difficult for prices to break through areas like that. I would suggest exiting any long positions at this point as it is very difficult to estimate sane levels of take profit and stop loss above areas where the price has ever been before. If you decide to hold above it, think of using a strategy such as trailing stop loss to give some help of leaving the trade. Follow me for consistent high-quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
OANDA:XAUUSDLong
by Trading-Guru
32