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BluetonaFX - SPX Forecast Ahead of Fed SpeechHi Traders! SPX is trading near its five-month high at 4607.07, and with Fed Chair Powell speaking later, the market could reach this level by the end of the trading week. Price Action 📊 After the break and close of the previous resistance at 4541.25, the market has refused to go back below this level for the time being, and an ascending price channel has started to form. This indicates that the bulls are currently in control. 4607.07 is the five-month high, and this is the next most likely target the longer we stay above 4541.25. Fundamental Analysis 📰 Later today, we have Fed Chair Powell speaking; therefore, we must be wary of his speech as he will mostly likely speak about the US' inflation situation, interest rates, and plans for the economy leading up to 2024. Support 📉 4541.25: PREVIOUS RESISTANCE BREAK Resistance 📈 4607.07: FIVE-MONTH HIGH Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
SP:SPXLong
by BluetonaFX
BluetonaFX - GBPUSD Potential 1.30000 Retest OpportunityHi Traders! There is potential for a retest of the psychological 1.30000 level on the GBPUSD. We can see here on the 1D chart that the market has been extremely bullish since the long-term resistance break of the 1.28486 level. We have had a price rejection at the 1.31424 level, and the market has now broken below the 1.31000 handle, which provides opportunities for possible shorts back to 1.30000. If we get a pullback to 1.30000 and the level does not hold, there is another target at 1.28486; this is the level that the market broke out from, leading to the push towards 1.31424. Keep stops tight here; if the market continues to the upside instead and 1.31424 breaks, the market is likely to continue towards 1.32000, and we will look for buying opportunities instead. Please do not forget to like, comment, and follow, as your support helps us greatly. Thank you for your support. BluetonaFX
by BluetonaFX
4
GoldViewFX - MARKET UPDATEHey Everyone, We finish off the week with our 1H, 4H and now Daily Chart idea fully complete!!! The Axis support level we highlighted on this Daily chart idea provided the support we expected for the push up to HIT our Daily chart TARGET. - BOOOOM! We will now come back Sunday with our updated multi timeframe trading ideas and trading plans for the coming week. Hope you all have a smashing weekend with friends, family and loved ones and please don't forget to support us by hitting like/boost button on this post. We really appreciate it. GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
15
GoldViewFX - 4H CHART UPDATED LEVELS & TARGETSHey Everyone, As we have successfully hit all our short, mid and long term targets across all our timeframes, please see our updated Goldturn support and resistance levels and targets for our new 4H chart setup. We saw price break out of the Goldturn ascending channel and testing a strong resistance structure. We may see a failure here and retracement back into the channel. Although we saw price break out of the Goldturn channel EMA5 still remains within the channel. Therefore, we would need to see EMA5 cross and lock above 1865 to open and confirm the upper levels and the next resistance structure. Our plans to buy dips from support levels is still in play and we will continue to track and trade the movement level to level using our EMA5 cross and lock strategy to confirm the movement. EMA5 CROSS AND LOCK ABOVE 1865 WILL OPEN 1879, 1895 and 1906 BULLISH TARGETS 1879 - 1895 - 1906 - BEARISH TARGETS 1854 - 1836 - SWING RANGE 1817 -1805 EMA5 CROSS AND LOCK BELOW 1805 WILL OPEN 1797, 1788, 1779 AND 1772 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
10
Education post 1/100 - How to trade pin bars?The Pin Bar Setup I bet you have seen many pin bars on your Forex charts. Maybe you haven’t been aware that you are looking at a pin bar formation, but you most likely have come across this candle on the chart Bullish Pin Bar A valid, tradeable bullish pin bar is located at the end of a bearish trend and its lower candle wick goes below the overall price action. If you spot a bullish pin bar setup on the chart, this will setup a nice opportunity for a long position. Bearish Pin Bar The same is true for bearish pin bars but in the opposite direction. The bearish pin bar is located at the end of a bullish trend and its longer candle wick is the upper area. In this manner, the longer wick is sticking out above the price action. The bearish pin bar is usually a good sign of an upcoming price reversal in the bearish direction.
Education
by GroundStoneHoldings
AUDUSD is Forming BULLISH SHARK - Potential for Reversal!Hey Everyone, AUDUSD was oversold on H1 Chart and now after moving sideways it's expected to spike up and it's forming HARMONIC PATTERN - BULLISH SHARK and hence we'll try to give BUY it with optimal stop loss, So, BUY AUDSUD with these preferences, BUY NOW or 0.73768 STOP LOSS - 0.73475 TARGET 1 - 0.74288 TARGET 2 - 0.74573 More updates will be posted under this thread, have any doubts? then, let us know in the comment section below and make sure to give this analysis a Thumbs UP +_+
Long
by BloomFisher
52