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#AUDUSD 1HOn the AUD/USD 1-hour chart, the price has reached a key support level. This level represents an area where buying interest has previously stepped in, preventing further declines in price. The support zone indicates a potential reversal point, as the selling pressure may weaken and buyers could start to dominate. Forecast: Buy Given the strong support level, a buy opportunity is anticipated. Traders may consider entering a long position if the price holds above this support, with a potential upside toward nearby resistance levels. It's important to monitor the price action closely for confirmation that the support is holding before executing the trade.
Long
by PIPSFIGHTER
Gold prices plummet after CPI newsGold is currently trading around $2,608 an ounce, down 1.7% this week. This is largely due to rising US Treasury yields, which have dampened expectations that the Fed will cut interest rates by another 50 basis points. Minutes of the Fed's recent meeting showed that Chairman Jerome Powell faced some opposition to the rate cut in September. Some officials expressed that the rate cut should be smaller than the 50 basis points. Separately, Dallas Fed President Lorie Logan said on Wednesday that monetary policy easing should be done at a slower pace after last month's cut. Markets are awaiting CPI data due later Thursday. If inflation continues to decline, this will support the possibility of the Fed cutting interest rates in the near future.
TVC:GOLD
by NicoTradingMaster
#GBPCAD 1DAY#GBPCAD 1-Day Forecast Sell based on a Trendline Breakdown On the daily chart for #GBPCAD, we are witnessing a bearish trendline breakdown, signaling a potential sell opportunity. The price has consistently respected a key upward trendline, but recent price action has seen a decisive break below this level, indicating a shift in market sentiment from bullish to bearish. Key Insights: 1. Trendline Breakdown: - After a prolonged period of following an upward trendline, the price has now broken below this support, confirming the loss of bullish momentum. - This breakdown marks the beginning of a potential downward trend, with increased selling pressure. 2. Bearish Momentum: - Following the breakdown, the price is showing signs of bearish momentum, with lower highs and lower lows forming, reinforcing the potential for further downside. - Confirmation of this sell signal can be strengthened by bearish candlestick formations, such as engulfing or rejection patterns near the trendline. 3. Volume Confirmation: - A rise in volume during the trendline breakdown adds credibility to the sell signal, showing stronger participation from sellers. 4. Stop-Loss Considerations: - For a sell trade, place a stop-loss above the broken trendline, in case of a false breakdown or a sudden reversal. #Trading Strategy: -Entry: Look for short positions after confirming the breakdown with a retest or strong bearish price action below the trendline. -Take Profit: Target lower support levels or previous swing lows as potential profit zones. -Stop Loss: Place stop-loss above the broken trendline to limit risk if the price reverses back above the trendline. This technical analysis highlights a sell bias on #GBPCAD for the daily timeframe, with a strong signal from the trendline breakdown suggesting further downside potential.
Short
by PIPSFIGHTER
#XAUUSD 30MIN#XAUUSD 30-Minute Forecast Sell with an Order Block Pattern On the 30-minute chart for #XAUUSD, we are seeing a shift in momentum towards a downward trend, signaling a potential sell opportunity. Price action has broken key levels, and the market is now favoring bearish sentiment. We are closely watching **two order block areas** for further downside continuation. #Key Insights: 1. Order Block Pattern: - The price has moved into an identified bearish order block, an area where large institutions or traders have placed significant sell orders in the past. - These areas often act as resistance, with the potential to push the price lower once retested. 2. Momentum Shift: - The recent price action indicates that bullish momentum has weakened, with sellers now gaining control of the market. This shift supports a sell bias. 3. Continuation Areas: - We are monitoring two critical areas within the order block for further price rejection. If the price fails to break above these zones, it confirms a strong bearish continuation. 4. **Volume Confirmation**: Increased volume near these order block zones would strengthen the sell scenario, as it confirms stronger participation from sellers. 5.Stop-Loss Considerations: For a short trade, placing a stop-loss above the order block area is recommended to protect against potential bullish reversals. Trading Strategy: - Entry: Look for sell signals near the identified order block areas with confirmation from bearish price action (e.g., rejection candlesticks or lower highs). -Take Profit: Target lower support levels as potential areas to take profit. -Stop Loss: Set stop-loss above the order block areas to manage risk in case of a bullish breakout. This analysis highlights the potential for bearish continuation in #XAUUSD on the 30-minute timeframe, with focus on the identified order block areas for monitoring price action and sell entries.
OANDA:XAUUSDShort
by PIPSFIGHTER
DreamAnalysis | Gold Analysis Key Levels and Future Trends✨ Today’s Focus: Gold (XAU/USD) – A Key Market Asset We’ll explore recent price movements and offer insights into potential future trends based on significant market levels. 🚨 Previous Analysis Recap: In our last analysis, we anticipated a reversal or at least a retracement lower, which has occurred. Now, we’ll dive into the current price action and analyze all possible scenarios for both bullish and bearish movements. 📊 Current Market Overview: Currently, the price has reached a crucial sell-side level, the previous week’s low (PWL), serving as a key liquidity zone. The price is also resting around two 4H Fair Value Gaps (imbalances), indicating respect for these levels. We will discuss how to approach these imbalance zones in both bullish and bearish scenarios and what we can expect from price action. 🕓 Key Levels to Watch: Here are the vital zones we’re monitoring: - PMH: Previous Month High - PML: Previous Month Low - PWH: Previous Week High - PWL: Previous Week Low - BSL: Buy-Side Liquidity - SSL: Sell-Side Liquidity - 4H FVG: Fair Value Gap (imbalance zone) These levels are critical for identifying where price may accumulate liquidity or rebalance. Fair Value Gaps (FVGs) indicate areas where the market may retrace to gather orders before continuing its trend. 📈 Bullish Scenario: For a bullish entry, we’ll focus on lower time frames (LTF) now that we’ve broken below the Weekly Low (PWL). The ideal bullish scenario would involve the price continuing to drop, taking out the Sell-Side Liquidity (SSL) marked above the 4H Fair Value Gap. Once we tap into that Fair Value Gap, we’ll look for entry points in lower time frames, targeting the buy side of the chart. 📉 Bearish Scenario: For a bearish outlook, we need to see a Buy-Side Liquidity (BSL) level taken out. Alternatively, we could look for a bearish entry point within the 4H bearish Fair Value Gap, targeting the sell side of the chart. 📝 Conclusion: Stay adaptable to changing market conditions. By closely monitoring these key levels and potential scenarios, you can refine your strategy and identify promising opportunities. 🔮 Looking Ahead: Stay tuned for updates as we monitor the NASDAQ, DXY, EUR/USD, and other major currency pairs. Expect timely insights as market trends develop. ⚠️ Disclaimer: This information is for educational purposes only and does not constitute financial advice. Always conduct your own research and consult a licensed financial advisor before making any investment decisions.
OANDA:XAUUSD
by DreamAnalysis
#EURCAD 1DAY#EURCAD 1-Day Forecast Sell based on a Channel Pattern On the daily chart for #EURCAD, the price is moving within a clearly defined **descending or horizontal channel**, signaling a potential **sell opportunity**. The price has been respecting both support and resistance levels, forming a continuous trend inside the channel, with a bearish bias dominating the market. Key Insights: 1. Channel Pattern: - The price is fluctuating within a descending or sideways channel, where it repeatedly bounces between resistance and support levels. - The upper resistance line of the channel is holding firm, acting as a ceiling for the price, while the lower support line limits declines. 2. Sell Scenario: - With the price near the upper resistance of the channel, this is an ideal point for a sell entry, expecting the price to reverse and move toward the lower support. - Confirmation for selling can come from bearish price action (e.g., bearish candlesticks or rejection at resistance), indicating that sellers are regaining control. 3. Trend Continuation: - The overall market bias is bearish, as evidenced by the lower highs and lower lows within the channel. As long as the channel holds, the price is likely to continue this pattern, making selling on rallies an optimal strategy. 4. Volume Confirmation: Monitor volume for confirmation. A rise in selling volume as the price nears resistance would strengthen the bearish outlook, while low volume near the support could suggest a lack of momentum for further declines. 5. Stop-Loss Considerations: - For a sell position, place a stop-loss slightly above the resistance level of the channel, as a breakout above resistance would invalidate the sell setup and suggest a potential reversal to the upside. Trading Strategy: Entry: Enter sell positions near the upper resistance level of the channel, anticipating the price to move downward toward the lower support. Take Profit: Set take-profit targets near the lower support zone of the channel, where the price may bounce or consolidate. Stop Loss: Place a stop loss above the channel's resistance line to manage risk in case of an unexpected breakout. This analysis indicates that #EURCAD is currently in a **sell position** on the 1-day timeframe, especially as it nears the resistance of the descending or horizontal channel. Traders should aim for downward movement while managing risk carefully with proper stop-loss levels.
Short
by PIPSFIGHTER
1
#NZDJPY 4H#NZDJPY 4H Forecast Buy with a Channel Pattern On the 4-hour chart for #NZDJPY, the price is trading within a well-established ascending or horizontal channel, presenting an opportunity for a potential buy. However, traders must remain cautious of a possible support breakdown, which would signal a sell opportunity. Key Insights: 1. Channel Pattern: The price is currently moving within a defined channel, with clear support and resistance levels. This indicates a period of consolidation or controlled upward movement, making it ideal for range-bound or trend traders. 2. Buy Scenario (Current Channel Movement): - As long as the price remains within the channel and stays above support, there is potential for a buy. - Traders can enter buy positions near the lower support zone and ride the price toward the upper resistance of the channel. - Confirmation can come from bullish momentum near the support line or a bounce from it. 3. Sell Scenario (Support Breakdown): - If the price **breaks below the support** level of the channel, it signals a potential shift in market sentiment from bullish to bearish. - In this case, it would be advisable to enter sell positions once the breakdown is confirmed by volume and momentum indicators. 4. Volume Confirmation: Look for volume spikes as the price approaches support or resistance. High volume during a breakdown would confirm a stronger bearish move, while strong buying volume near support confirms a buy opportunity. 5. Stop-Loss Considerations: - For a buy position, place a stop-loss slightly below the support line to protect against any false breakouts. - For a sell position (if the support breaks), place a stop-loss just above the broken support level, now acting as resistance. Trading Strategy: - Entry: - Enter a buy position when the price bounces off support within the channel. - Enter a sell position if the price breaks down below the support level. - Take Profit: For a buy, aim for the upper resistance level of the channel. For a sell, target key support zones below the breakdown. - Stop Loss: - For a buy, set a stop-loss below the support level. - For a sell, set a stop-loss above the support-turned-resistance line to limit risk. This analysis suggests that #NZDJPY is a buy within the current channel on the 4-hour timeframe, as long as support holds. However, a **breakdown of support** would flip the outlook to a bearish sell strategy.
Long
by PIPSFIGHTER
#CHFJPY 2HOn the 2-hour chart for #CHFJPY, the price is currently moving within a well-defined channel pattern, suggesting a potential breakout or breakdown scenario. Traders should prepare for both directions, with opportunities to either buy or sell depending on how the market reacts to key levels. Key Insights: 1. Channel Pattern: The price is fluctuating between a clear support and resistance level, forming a horizontal or slightly sloping channel. This indicates market indecision, with buyers and sellers battling for control. 2. Breakout Scenario (Buy): - If the price breaks above the upper resistance of the channel with strong momentum, it signals the start of a bullish move. - Traders should look to enter buy positions after a confirmed breakout, ideally with increased volume, to validate the upward movement. 3. Breakdown Scenario (Sell): - Conversely, if the price breaks below the lower support of the channel, it points to a bearish shift. A breakdown would signal a good opportunity for sell positions, especially if supported by rising selling volume and momentum. 4. Volume Confirmation: Pay close attention to trading volume, as significant increases during a breakout or breakdown will strengthen the validity of the move. 5. Stop-Loss Considerations: - For the breakout (buy), place a stop loss just below the resistance level (now turned support) to manage risk in case of a false breakout. - For the breakdown (sell), place a stop loss above the broken support (now turned resistance) or the latest swing high. Trading Strategy: Entry: Buy if the price breaks out above resistance. Sell if the price breaks down below support. Take Profit: Set take-profit levels according to key resistance zones (in the case of a buy) or support zones (in the case of a sell). Stop Loss: Set stop losses above resistance for a sell trade or below support for a buy trade to minimize risk. This technical analysis provides a flexible strategy for trading #CHFJPY on the 2-hour timeframe, allowing traders to react to either a bullish breakout or bearish breakdown from the channel pattern.
by PIPSFIGHTER
#COPPER 4HThe copper market on the 4-hour chart is showing signs of a bearish trend, with a notable support level breakdown. This indicates weakening buying pressure, leading to a potential sell opportunity. Key Insights: 1. Support Breakdown: The price has recently breached a critical support level, suggesting a shift in market sentiment from bullish to bearish. 2. Pattern Formation: Prior to the breakdown, a bearish pattern (such as a descending triangle or head and shoulders) was forming, hinting at a reversal or continuation of a downtrend. 3.Volume Confirmation: Increased selling volume at the time of the breakdown reinforces the potential for further downside movement. 4.Target Zones: - Immediate downside targets lie at previous lows or Fibonacci retracement levels. - If the selling momentum continues, a deeper decline could be anticipated, potentially testing major support zones. 5.Stop-Loss Considerations: A protective stop-loss above the broken support or the latest swing high is advised to manage risk in case of a reversal. Trading Strategy: Entry: Enter sell positions after confirmation of the support breakdown on the 4H chart. Take Profit: Set take-profit levels at key support levels below the breakdown point. Stop Loss: Place a stop loss slightly above the previous support (now turned resistance) or the latest swing high. This technical analysis suggests that if the current conditions hold, selling #COPPER on the 4-hour timeframe could be a strong move for short-term traders.
VANTAGE:COPPERShort
by PIPSFIGHTER
XAU drops sharply without any newsThe USD continues to surprise the market when it has increased quite strongly in recent sessions. Along with that, countries are also lowering interest rates and looking for ways to support the weakened economy after the pandemic and the instability of production chains as well as reduced consumer demand around the world. The price of gold rings in basic units remains the same in both buying and selling directions compared to the previous session. According to technical analysis, the indexes reaching 50 points are an expansion level. However, at the time of assessment, consumers are more optimistic than last month, showing a positive trend, they will buy more goods and services, which will boost domestic demand, stimulate businesses and the economy to grow better.
OANDA:XAUUSD
by NicoTradingMaster
#GBPJPY 1DAYGBP/JPY daily chart, the overall trend appears to be an uptrend, but a potential **sell opportunity is emerging. Here's a breakdown of the situation: 1. Uptrend Formation: The pair has been trading in an upward direction, characterized by higher highs and higher lows, indicating that bullish sentiment has been dominant over the past days. 2. Potential Reversal Signals: However, certain technical indicators and price action may be hinting at a potential reversal or pullback. Signs such as overbought conditions (on RSI or stochastic), bearish candlestick patterns (like doji, shooting star), or divergence between price and momentum indicators could be signaling exhaustion in the current uptrend. 3. Key Levels: The current price is approaching key resistance levels where sellers might step in. If the price fails to break above these levels, it could result in a sell-off or a corrective phase. 4. Forecast: Given the extended nature of the uptrend and potential exhaustion, this could be a good opportunity to consider **short positions** or selling into strength. A break below recent support or a clear bearish signal would further confirm the sell scenario. Recommendation: While the overall trend has been bullish, the upcoming days could see a correction or reversal. Watch for sell signals near resistance zones and be ready to adjust your position accordingly if the market continues to weaken.
Short
by PIPSFIGHTER
#USDCHF 4HIn the USD/CHF 1-day chart, a breakout from a channel pattern has occurred, signaling a potential bullish trend reversal. The channel pattern typically forms when the price oscillates between two parallel trendlines, representing support and resistance. A breakout above the upper boundary of the channel suggests that buyers are gaining control and that the bearish pressure within the channel is weakening. This breakout presents a strong buy signal, as it often indicates the start of an upward trend. Confirmation of the breakout can be supported by a bullish candle close above the channel and an increase in volume, showing increased market participation in the move. Traders should look to key resistance levels as potential profit targets while keeping an eye on previous support levels within the channel to manage risk. Setting stop-loss orders below the breakout point or the lower channel line can provide protection in case of a false breakout or price retracement. This technical setup favors a bullish outlook for USD/CHF in the medium term.
Long
by PIPSFIGHTER
#USDCHF 1DAYIn the USD/CHF 1-day chart, a breakout above the downtrend line has occurred, signaling a potential shift from the previous bearish trend. This breakout is often seen as an early indicator of a bullish reversal, suggesting that buying momentum is building. The breakout above the downtrend line presents a buying opportunity, especially if it is confirmed by strong bullish price action, such as a sustained move above the trendline with higher volume. Traders may look for key resistance levels as potential profit targets while considering placing stop-losses below the breakout area to manage risk in case of a pullback. This technical setup suggests a favorable buying forecast for USD/CHF, with potential for upward movement in the coming sessions. However, further confirmation and monitoring of key support and resistance levels are important for a solid trading decision.
Long
by PIPSFIGHTER
DreamAnalysis | EURUSD Critical Levels and Entry Signals✨ Today’s Focus: EUR/USD – A Key Market Asset We’ll delve into recent price movements and provide insights on potential future trends based on significant market levels. 🚨 Previous Analysis Recap: As anticipated, the price reversed downward after sweeping some Buy-Side Liquidity (BSL), establishing both the previous month and week highs. Today, we’ll explore the critical levels that were overlooked during this reversal and how we can leverage them. 📊 Current Market Overview: Currently, the price is hovering just above the Previous Week Low (PWL). We might see a retracement to clear the liquidity below this level, after which we can explore additional scenarios. Additionally, there’s a substantial 4-hour Imbalance Zone nearby; we expect the price to react to it and its 50% level. 🕓 Key Levels to Watch: Here are the crucial zones we’re monitoring: - PMH: Previous Month High - PML: Previous Month Low - PWH: Previous Week High - PWL: Previous Week Low - BSL: Buy-Side Liquidity - SSL: Sell-Side Liquidity - EQL: Equal Lows - Daily FVG: Fair Value Gap (imbalance zone) - 4H FVG: Fair Value Gap (imbalance zone) These levels are vital for identifying where price may accumulate liquidity or rebalance. Fair Value Gaps (FVGs) signify zones where the market could retrace to gather orders before continuing its trend. 📈 Bullish Scenario: We can look for bullish entry signals on lower time frames (LTF) at this point. Ideally, we’d want to clear the liquidity behind the Equal Lows (EQL), which coincide with the Previous Week Low (PWL), before seeking our entry model on the lower time frames. 📉 Bearish Scenario: For a bearish outlook, we should focus on lower time frames (LTF) to identify areas of low resistance buy-side liquidity (LBSL). We can also utilize the marked imbalances; once within these zones, we can seek entry opportunities on lower time frames. 📝 Conclusion: Remain adaptable to shifting market conditions. By closely monitoring these key levels and potential scenarios, you can refine your strategy and spot promising opportunities. 🔮 Looking Ahead: Stay tuned for updates as we monitor the NASDAQ, DXY, EUR/USD, and other major currency pairs. Expect timely insights as market trends develop. ⚠️ Disclaimer: This information is intended for educational purposes only and does not constitute financial advice. Always conduct your own research and consult a licensed financial advisor before making any investment decisions.
by DreamAnalysis
#EURCAD 1DAYThe EUR/CAD pair on the 1-day chart is approaching a key support level that could potentially signal two scenarios depending on price action. Here's a description for both scenarios: Bullish Scenario (Buy Support Bounce): Pattern & Support: The EUR/CAD pair has been trading within a range, and the price is nearing a strong support level that has been tested multiple times in the past. This level could serve as a potential bounce zone if buying pressure reemerges. Forecast: If the price shows signs of rejection at this support (such as bullish candlestick patterns like a pin bar, engulfing pattern, or increased buying volume), it suggests a reversal and potential upside movement. Traders may look to enter long positions with the expectation of a bounce from this support level. A target could be set at recent resistance levels or Fibonacci retracement points. Bearish Scenario (Sell Support Breakdown): Pattern & Support: If the price fails to hold above the support level and breaks below it with strong momentum, this could signal a bearish continuation. Forecast:A break and close below the support level, especially with increased selling volume, could trigger a downside move. In this case, traders might look for short opportunities, anticipating further declines. The next potential targets would be lower support zones or previous swing lows. In either scenario, traders should monitor volume, momentum indicators (like RSI or MACD), and price action closely to confirm their trade direction.
by PIPSFIGHTER
#EURUSD 1DAYEUR/USD 1-Day Chart Analysis: Pattern: The EUR/USD currency pair is forming a channel pattern on the 1-day chart. This indicates that the price has been moving between two parallel trendlines, where the upper trendline acts as resistance and the lower trendline acts as support. The pattern suggests that the market is in a consolidation phase with no clear breakout direction yet. Forecast: Sell. Given the current market structure, the EUR/USD appears to be closer to the resistance of the channel, which often provides opportunities for short-selling. A bearish reversal at the top of the channel could lead to a downside move towards the lower trendline. Traders might look for bearish signals such as a rejection of the upper trendline, decreasing momentum, or bearish candlestick patterns before entering a short position. Risks: A breakout above the upper trendline could invalidate the sell signal and suggest potential upside. Therefore, it is crucial to monitor the price action closely around key levels.
Short
by PIPSFIGHTER
Gold prices fell sharply below 2,640Gold prices were volatile last week. After the US employment data was released at 7:30 p.m. on Friday, gold prices fell sharply below $2,640/oz, but then at 10:00 p.m. the same day, gold prices rebounded, reaching $2,670/oz but immediately fell back to $2,642/oz at 11:30 p.m. Currently, gold prices are little changed around $2,650/oz. The decline in the precious metal was limited by increased safe-haven demand due to concerns about escalating tensions in the Middle East. There are several important data releases this week. The biggest risk for gold is the US consumer price index for September. According to Economists, the market will be eager to see whether inflationary pressures continue to ease, which will support the US Central Bank's easing cycle. Markets will also get the minutes of the Fed's most recent monetary policy meeting.
TVC:GOLD
by NicoTradingMaster
GBPJPY Oct 4 2024 pending buy limit activatedDetailed entry on GBPJPY maximizing liquidity grab. :) This trade was taken during N.Y session of Oct 3 2024. I set pending buy limit because I saw Slow motion while approaching fair value gap (see charts arrow) . As I go to my fundamentals i saw an important NEWS --> NFP USD. Anticipating large momentum because of the demand introduced this week. This trade was a success, years of learning and charts behavior observation. Trade with confidence and patience. :) Have a great day folks! #wyckoff #supplyanddemand
Long
by glyrad