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Commoditysignals

XAUUSD First 4H Death Cross in 4 months. Will it reverse?Gold (XAUUSD) followed our January 08 buy signal (see chart below) and rebounded on the 1D MA50, easily hitting the 2040 Target: This time we have a distinct technical formation arising as the pair is forming the first 4H Death Cross since September 28 2023. In fact, the price action is very similar to the Death Cross that was formed a few days prior that (September 14). After a 0.786 Fibonacci rebound, the price collapsed to a new Low. As a result, we see a rise to 2070 (just below the 0.786 Fib) as a realistic short-term action, but below the 4H MA50 (blue trend-line) we will short the break-out and target Support 2 at 1972.40 (just above the 1D MA200 (yellow trend-line)). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSD
by TradingShot
WTI OIL is a strong long-term buy opportunity.WTI Oil (USOIL) has hit today the 1D MA50 (blue trend-line) for the first time since October 24 2023. Today's analysis is on the 1W time-frame but we have explained the reasoning behind a long-term buy once the 1D MA50 would break, a month ago (December 19, see idea below): That Buy Zone offers a low risk action ground for longs and as you can see on today's chart, it is also supported by the 1W MA200 (orange trend-line), which hasn't allowed a 1W candle to close below it for almost 3 years (since January 25 2021). At the same time the 3-year Support Zone has had 7 times that was hit and held, with the most recent being on December 11 2023. As a result, if Oil closes a 1D candle above the 1D MA50, there are high chances of a strong medium-term rally on the 1W scale. So far the 1W MA50 (blue trend-line) is the Resistance. All 3-year Support Zone rallies rose very aggressively and the two most recent hit at least the 82.50 level, which will be our Target. This is just below the 0.618 Fibonacci retracement level, a line that has been approached 4 times already since November 28 2022. Practically the market has been ranging within a 16-month Rectangle after the 2022 High. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILLong
by TradingShot
1
NATURAL GAS Long-term High has been made. SELL.Natural Gas (NG1!) is having a strong bearish reversal since the January 09 High, which on this 1D time-frame can be identified as a Lower High on a 3-month Channel Down pattern. On top of that, the 1D RSI got overbought above 70.00 and is correcting. This appears to be the new Bearish Leg of the Channel Down and we expect it to last around 1 month. Our Target is a new Lower Low on Support 2 at 2.135. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYMEX:NG1!Short
by TradingShot
2
XAUUSD Target hit, approaching bottom of Channel Up and 1D MA50.Gold (XAUUSD) followed the Channel Up 4H MA50 (blue trend-line) rejection pattern and as per our last week's idea (January 04, see chart below), it hit today our 2020 Target: The price is now only a few pips away from hitting the 1D MA50 (red trend-line) which has been untouched since October 13 2023 and near which both previous Higher Lows on the Channel's bottom (December 13 2023 and November 12 2023) where priced. As a result that would be a buy opportunity with a tolerance extension as low as 2003, which would represent a -4.08% from the top, symmetrical to both previous two Bearish Legs. As long as the Channel Up Higher Lows trend-line holds, we will stay bullish, targeting the 4H MA50 at 2040. If the bottom trend-line breaks, we will take the relatively small loss and open a sell instead, targeting Support 1 at 1972.50. The 1D MA20 (yellow trend-line) is the final supporting trend-line before Gold gets a confirmed bearish reversal on the long-term horizon. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSD
by TradingShot
NATURAL GAS Strong sell on the 1D MA50.Natural Gas has been so far following the sell strategy we shared with you a month ago (December 04, see chart below), having already hit one Target (2.425): Yesterday the price hit the 1D MA50 (blue trend-line) and managed to close the 1D candle below it, which stands out as the most efficient sell opportunity since the October 27 2023 High. Technically we can see a new Channel Down emerging with two Lower Lows and two Lower Highs already. Our long-term 2.135 Target on Support 2 remains, but technically the downside can be considerably bigger (-38.67% was the previous Bearish Leg). If the price breaks above Resistance 1 (2.990), we will take an additional short-term buy, targeting 3.275 (Resistance 2). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYMEX:NG1!Short
by TradingShot
2
XAUUSD Bear Flag on 4H.Gold (XAUUSD) eventually did get rejected on the 0.618 Fibonacci level as per our last week analysis (see chart below): This is so far consistent with all previous All Time Highs since August 2020 and our long-term target remains 1975. On the shorter term though we see a quick sell opportunity following today's bounce after the 4H MA50 (blue trend-line) break-out, as it is consistent with all such break-outs (red ellipses) within the 2-month Channel Up. Every Bearish Leg of this Channel Up declined by more than -4.00% but on our short-term horizon we will settle for a 2020 target, which will be a 1D MA50 (red trend-line) test. See also how consistent the 4H MACD sequences are. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSDShort
by TradingShot
WTI OIL Bearish below the 1D MA50.WTI Oil (USOIL) got rejected two days ago near the 1D MA50 (blue trend-line), which has been the downward Resistance since October 24, despite the fact that the price marginally broke above the 3-month Channel Down. As long as it stays below the 1D MA50, the trend is bearish and we will target the 68.00 Low. On the long-term though, this is a huge Buy Zone since March but the price only rallied sustainably when a 1D candle closed above the 1D MA50. The 1D RSI is technically repeating the December 2022 bottom pattern, but we will only engage in buying above the 1D MA50, in which case we will target 82.50, which is a level reached both on the March and July's rallies. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOIL
by TradingShot
3
XAUUSD Approaching the cyclical rejection level. Strong Sell.Gold (XAUUSD) hasn't so far diverged from the previous two ATH peak patterns (March 08 2022 and August 07 2020) as following this Cycle's new All Time High, it got heavily sold to the 1D MA50 (blue trend-line), which held and initiated a price rebound. This rebound sequence is now approaching the 0.618 Fibonacci retracement level, which is where the Lower Highs of the previous peak patterns were formed. The price got immediately rejected to at least the previous Low (in our case 1975). In 2022 the sell-off continued immediately, while in 2020 it was more structured and gave another Lower High to sell. As a result, we expect Gold to reverse soon within the 2070 - 2100 range and target at least 1975 by the end of January 2024. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSDShort
by TradingShot
1
WHEAT Struggling on the 1D MA200. Long-term sell opportunity.Wheat (ZW1!) has been trading within a Channel Down pattern since July 2022 and since early December has failed repeatedly to detach itself above the 1D MA200 (orange trend-line). Since it is closer to the top (Lower Highs trend-line) of the pattern and it resembles the February 14 High, we expect a strong selling sequence if the price breaks below the 1D MA50 (blue trend-line). The previous Lower Low was priced on the 1.786 Fibonacci extension from the Lower High. That gives us a projected target of 413'0. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CBOT:ZW1!Short
by TradingShot
1
WTI OIL Still in the long-term Buy Zone.WTI Oil (USOIL) hit our 73.50 short-term Target that we called on December 07 (see chart below) but remains within the 2 -month Channel Down: On the wider 1D time-frame, we can clearly see that the price is still inside the 9-month Buy Zone. The tendency is that when the 1D MA50 (blue trend-line) breaks after dipping within the zone, the price approaches the 0.618 Fibonacci retracement level. The 1D RSI is on a Triple Bottom, i.e. confirmed Low and buy opportunity while the 1D MACD is on a Double Bullish Cross. As a result, we are waiting either for another pull-back to 68.00 - 69.00 or the 1D MA50 to break (and close a 1D candle above) and target 82.50 for the medium-term. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILLong
by TradingShot
XAUUSD: Channel Down sell signal as last May.Gold (XAUUSD) eventually delivered the expected rejection and pull-back after hitting the 0.786 Fibonacci level as we presented on our December 04 idea (see chart below): The All Time High (ATH) candle turned out to be a fake-out, liquidating countless of late buy positions at the top as well as stop losses on sells. If we ignore that non-technical candle wick, we can see that the underlying pattern is a Channel Up on the medium-term, which last week broke below its bottom but found Support exactly on the 1D MA50 (blue trend-line). As you see on the chart, there is uncanny symmetry between the price action since the September 20 High and the sequence from February 02 until May 16. Both resulted in a Channel Up, which on May 16 broke to the downside and extended the sell-off below the 1D MA50 and to (initially) a -7.20% decline from the Channel Up Lower High. As a result, since the price has already brokne below the current Channel Up and seems to have been rejected on an emerging (dotted) Channel Down as in May 2023, we expect this time to break the 1D MA50 and Support 1 and extend towards Support 2. We are bearish, targeting 1930. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSDShort
by TradingShot
GASOLINE Buy signal if 1D MA50 breaks.Gasoline (RB1!) has had a strong 3-day rise last week but that is still contained within the bearish barriers of a Channel Down. However during this whole pattern, the 1D RSI has been developing a Channel Up, hence a Bullish Divergence for the price. As a result, we will look to the 1D MA50 (blue trend-line) for a break-out signal and if the price closes a 1D candle above it, we will buy and target the 1D MA200 (orange trend-line) with an early target projection at 2.4250 (but of course this can move depending on its course). Technically, we can even see the rise extending to +30.00% from the bottom or even slightly higher, as the two major bullish runs of 2023 have risen by +34.60% and +32.60% respectively. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYMEX:RB1!Long
by TradingShot
2
XPDUSD on the verge of a long-term bullish break-out.Palladium (XPDUSD) has been trading within a Channel Down pattern since the October 04 2022 High. Today though, the price broke, marginally so far, above it for the first time after a strong post-Fed 1D candle. This rise was initiated on a Lower Lows trend-line but on an underlying Bullish Divergence as the 1D RSI was during the same period on Higher Lows. This was the first signal of a potential long-term bullish break-out and a break (and 1D candle closing) above both the Channel Down and more importantly the 0.382 Fibonacci retracement level (which is where the April 18 2023 High was rejected), will be the confirmation. If it happens (closing 1D candle above it), then we will buy and target the 1D MA200 (orange trend-line) at 1255.00, which is slightly below Resistance 1 (1291.00). A further closing above Resistance 1, will be new break-out buy entry, with which we will target slightly below Resistance 2 at 1625.00. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XPDUSDLong
by TradingShot
1
📈 Gold Dilemma: Navigating Unexpected TurnsUnfortunately, Gold has taken an unexpected turn, deviating from my initial expectations. It appears that the previous upward impulse might be an extension of Wave 1. To maintain my bullish outlook, it's crucial for us to remain above $1810; any breach below this level would invalidate the bullish scenario. However, if our interpretation aligns with a Wave 2 scenario, then a strong Wave 3 is on the horizon. In such a case, targeting the Weak High becomes pivotal. As a risk management measure, I've placed my stop-loss below the 78.6% Fibonacci level. 📈✨
OANDA:XAUUSDLong
by stromm
XAUUSD 1D Symmetry giving a strong break-out sell signal.Gold (XAUUSD) eventually delivered the expected rejection and pull-back after hitting the 0.786 Fibonacci level as we presented on our December 04 idea (see chart below): That Monday candle turned out to be a fake-out, liquidating countless of late buy positions at the top as well as stop losses on sells. If we ignore that non-technical candle wick, we can see that the underlying pattern is still a Channel Up on the medium-term, with the price approaching its bottom. As you might have already observed there is uncanny symmetry between the price action since the September 20 High and the sequence from February 02 until May 16. Both resulted in a Channel Up, which on May 16 broke to the downside and extended the sell-off below the 1D MA50 and to (initially) a -7.20% decline from the Channel Up Lower High. As a result, if the price breaks below the current Channel Up, we expect not to stop on the 1D MA50 or Support 1 but rather extend towards Support 2. That will be a break-out sell signal for us, targeting 1930. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSDShort
by TradingShot
XAUUSD The NFP is 'do-or-die' moment for this pattern.Gold (XAUUSD) is trading exactly at the bottom of the 2-month Channel Up, restrained below the 4H MA50 (blue trend-line), which ahead of today's Nonfarm Payrolls (NFP) report is getting increasing dangerous. Technically, as long as the Channel Up holds, the current level is the most optimal buy opportunity for another +11.00% bullish sequence (as the previous two Higher Highs) targeting above 2200. With the 1D RSI though showing no divergence at all with the price's Higher Lows (as opposed to the previous two bottoms of the Channel Up), it is the first time on this pattern that a bearish break-out is so likely to take place. We will look for a break below the 2010 Support as our sell signal. Due to the usual high volatility that is expected during NFP releases, if we do get a bearish break-out, it is quite probable to reach the 1D MA50 (red trend-line) even within the day. Sell target on this, 1965. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSD
by TradingShot
WTI OIL Channel Down bottom buy signalWTI Oil (USOIL) eventually hit our 71.00 target we set last week (see chart below) upon the dotted Channel Up break-out: The price is now attempting a rebound following the breach of the 1W MA200 (red trend-line), which is a typical procedure throughout 2023 and delivers a strong rebound. However, we we will our perspective short-term until the Channel Down breaks, and will only target 73.50, which is where we expect contact to be made with the 4H MA50 (blue trend-line). We reserve a spot for an additional buy at 67.00 (June 28 Low), in case the price makes one last pull-back to price a Lower Low on the Channel Down. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILLong
by TradingShot
COPPER Correction to accelerate lower.Last time we looked at Copper (HG1!) 1.5 months ago (October 24), we caught the most optimal bottom buy signal: The price action didn't only hit our Target but also broke above both the January 18 2023 Lower Highs trend-line and the 1D MA200 (orange trend-line). The rejection that took place on Monday though, is giving rise to a new Falling Wedge pattern with the current Bearish Leg on full display. The bearish signal is already confirmed as the 1D MACD has completed a Bearish Cross, and so far the sequence is very similar to the August 01 rejection. As a result, we are bearish on Copper, looking to take advantage of today's green 1D candle and short near the closing in anticipation of being close to the peak. Our short term Target is 3.6100, which is the 0.786 Fibonacci retracement, a symmetrical level where the price bounced on August 17. Selling can only be extended if the green Support Zone breaks. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
COMEX:HG1!Short
by TradingShot
NATURAL GAS Turned bearish but short below the 1D MA200.Natural Gas (NG) opened today below the bottom (Higher Lows trend-line) of the long-term Bullish Megaphone pattern and that is of course the strongest indication that the market has turned bearish long-term. The first sign was breaking and closing below the 1D MA100 (green trend-line), which hasn't been done since June 14. The safest course of action would be to sell after the 1D MA200 (orange trend-line) breaks and target first the bottom of the Support Zone at 2.425 and after a bounce, 2.135 (Support 2) in extension. Until the 1D MA200 breaks though, we can see a dead-cat-bounce if the price breaks the Lower Highs trend-line and closes above the 1D MA100 again. If that happens before, as well as the 1D MACD forms a Bullish Cross, we will buy first the target Resistance at 3.275. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYMEX:NG1!
by TradingShot
3
XAGUSD peaked and expected to pull-back for the rest of DecemberSilver (XAGUSD) has hit a peak price amidst the geopolitical unrest this weekend (Red Sea attacks) and this is technically the Higher High of the medium-term Channel Up that started on the September 22 High. The 1D RSI is reversing already and as a target we have two technical candidates. In the past 7 months we've had 5 major corrections, the minimum being -7.61% and the maximum -13.13%. As a result our target is the minimum projection of -7.61%, aiming for 24.000. However we may even see a technical extension as low as 23.450, which will not only be the bottom of the Channel Up, but also a 1D MA50 test (blue trend-line) but more importantly the 0.618 Fibonacci retracement level, which is where the November 13th Low almost bottomed. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAGUSDShort
by TradingShot
1
XAUUSD Made new High. Is a rejection inevitable or 2250 is next?Gold (XAUUSD) has made a new All Time High (ATH) today early during the Asian session opening amidst the attacks in the Red Sea, peaking just below 2150 before being sold-off on each passing hour. Regardless of the pull-back, this managed to make a new ATH after almost 3.5 years. There is technical evidence however showing that if the current weekly (1W) candle closes in red (which is still very early to tell as we are only at the start of it), Gold may share the fate of the previous peaks at 2082: a rejection and immediate bearish reversal towards the 0.5 Fibonacci retracement level (blue lines) from the October 02 Low on the 1W MA200 (orange trend-line). In that case, we will target 1980 (0.5 Fib), which would also test the Channel's 0.5 Fibonacci level as well as the 1W MA50 again (blue trend-line). Be aware though that the current 2-month rally is the most 'systematic' of all previous as first it rebounded on the 1W MA200 and then on the 1W MA50. As a result and while considering the Fibonacci Channel Up trend-lines, as they are applied perfectly to Gold's uptrend since 2020, if the current (or any that follow) 1W candle closes above the 0.786 Fibonacci Channel level, we will buy the break-out and target the 1.0 Fib level (top/ Higher Highs trend-line of the Channel) at 2250. The risk (and as a result the SL) is low in each case. As a side note, check how well the majority of the price action since January 2020 fits within the 0.786 - 0.236 Fibonacci levels. This range is Gold's 'High Volatility Zone'. Also as an additional observation, check how rejection candles look on the monthly (1M) scale, which is again of course too early to tell for the current one: ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSD
by TradingShot
1
WTI OIL Loosely supported by the RSI.WTI Oil (USOIL) got rejected yesterday just before it hit the 4H MA200 (orange trend-line), near the top (Lower Highs trend-line) of the 2-month Channel Down. It may have broken though below the 4H MA50 (blue trend-line) as well but found support on the short-term Channel Up (dotted lines), which is essentially the bearish leg towards the Lower Highs of the Channel Down. The early October bullish sequence traded within such a Channel Up as well and broke downwards only when the 4H RSI broke below its Higher Lows trend-line (October 22). Currently the RSI is supported by a similar Higher Lows trend-line. If broken, we will see and target the 1W MA200 (red trend-line) at 71.00. Until then we have the opportunity for a Channel Up bottom long towards 79.50 (4H MA200 potential contact). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOIL
by TradingShot
1
XAUUSD Is it time to finally break above the 3 year Resistance?Gold (XAUUSD) entered yesterday the Resistance Zone that has been in effect for more than 3 years (40 months actually) since the week of August 03 2020. The main characteristic of this zone is that even though the 1W (weekly) candles broke within it, they all closed eventually back below it. And this is why we make this analysis today on the 1W time-frame instead of the 1D, which is about to complete a Golden Cross. The question on everyone's mind and rightly so is, will Gold finally break past this Resistance or it will be emphatically rejected into a new round of selling as the previous 3 times? Of course there is no definitive answer but we need to look at the pattern dynamics infront of us. The current rally since the October 02 (1W) Low has a distinct set of features that wasn't present in the other times the Resistance Zone was tested. Its bottom was made exactly on the 1W MA200 (orange trend-line) and the first pull-back found support and rebounded on the 1W MA50 (blue trend-line). This indicates bullish bias of buying on key demand trend-lines that we didn't see on the previous tests. The 1W MA50 rebound in particular basically invalidated the similarities with the May 31 2021 rejection, which broke below the 1W MA50 and was later rejected on it, turning it into a Resistance. So what's next? Well despite the obvious different buying pressure on this rally, if the current 1W candle closes below the Resistance Zone, it will be a bearish sign. And the fact that it is such a long-term Resistance, makes a potential sell-off of significant magnitude. If however it closes inside the Resistance Zone, Gold will have made the first step after more than 3 years to finally attempt to break above it in December and make a proper new All Time High (May 01 2023 was just a marginally ATH). What do you think will prevail? Rejection or new ATH? BONUS MATERIAL See how successful and accurate trading on a long-term time-frame can be: ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSD
by TradingShot