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2024-10-21 - priceactiontds - daily update - daxGood Evening and I hope you are well. tl;dr Indexes - Sideways movement with some lower lows but closes were mostly weak. Neutral going into tomorrow, since both sides can get the breakout. Market is still controlled by bulls until we close below the daily 20ema and those are far away. dax futures comment: Look at the daily or 4h chart, cause the lower time frames are misleading. This is not as bearish as it looks on the 15m chart. It’s still just a minor pullback in this bull trend and we still have not touched the daily ema. The bull trend line and daily ema are coming closer and we will probably chop more until we hit them. Then we see where the market wants to go next. I still expect 20000 but not much more. I am neutral until I have seen 20k or daily close below 19300. current market cycle: bull trend key levels: 19500 - 20000 bull case: Bulls did not find enough buyers above 19780 but they bought 19600, which was expected and important. We did not learn much and nothing changed to what I wrote in my weekly outlook. Invalidation is below 19500. bear case : Bears had a minor pullback but stayed inside the trading range under the ath. Nothing to get excited about. Will they try to get follow through tomorrow and fight for this to hit 19500? Less likely than bulls buying the dip again. Invalidation is above 19820. short term: Neutral inside given range. Still favoring the bulls for 20k but we could hit 19400 first. medium-long term - Update from 2024-10-19: 20000 is the goal for 2024, if bulls do not get it until year end, it will probably not happen for the next 5-10 years. This market is beyond overvalued and will drop 30-50% in the next 5 years. I have no doubts about that. That fact should not be relevant to your trading at all. Right now there is no selling pressure. I am confident that we will hit 17000 in 2025 but timing is more important than price, so let’s not waste brain capital on being bearish for now. current swing trade: None trade of the day: Selling 19770 since market found no buyers above that price and produced many tails. The EU open was just weakness and we did not stop until we hit 19600.
EUREX:FDXSZ2024
by priceactiontds
2024-10-21 - priceactiontds - daily update - oilGood Evening and I hope you are well. tl;dr Oil - Trading range 68 - 70.6 continues. Neutral as it gets in between. Don’t over analyse this range. comment : Bulls fighting for 70 and there is a chance this today was a lower low major trend reversal and we go up from here. Validation is only a daily close above 71, so don’t be early like me last week. Continuation of the trading range is a bit more likely than a bullish breakout. current market cycle: trading range key levels: 68 - 71 bull case: Bulls want to keep 70 support and break above the bear channel now. They still need to break the bear trend line and above the daily 20ema. Given the current chart, you simply can not hold longs above 70 for now. Invalidation is below 67.7. bear case: Bears keeping this at the lows is good for them. They could still try to get a third leg down to retest the September low 63.46 but right now that is as unlikely as bulls breaking above 71. I do think one side will give up this week and we see a bigger move. Do not trade on hopes of an event which could sent oil prices higher. That is not a trading strategy, that is gambling. Invalidation is above 71. short term: Neutral inside given range. medium-long term - Update from 2024-10-20: No idea where this wants to go in the remaining 2 months of this year so I am neutral until we have a better pattern. The big triangle on the weekly chart is alive and until that changes, no more updates. current swing trade: None trade of the day: Long 68.6 since it was previous support and close enough to the bull trend line to expect it to hold. Was good for 150+ ticks.
NYMEX:MCL1!
by priceactiontds
GOLD is fully supported with a low data trading weekDue to escalating tensions in the Middle East, uncertainty about the US election and expectations of looser monetary policy, OANDA:XAUUSD surged up and created new all-time record highs. The market will still focus on increasing geopolitical tensions after Israel announced the killing of Hamas leader Yahya Sinwar. Sinwar was the mastermind of the Hamas attack on southern Israel that sparked the year-long Gaza war. Prime Minister Benjamin Netanyahu said Israel will continue to fight until all hostages captured by Hamas last year are released, while US President Joe Biden said it is time for the war to end. During times of geopolitical and economic instability, investors often turn to gold as a safe haven asset. Rising geopolitical tensions in the Middle East have prompted investors to seek safe-haven assets such as gold, due to risk aversion and concerns about instability in global markets. On the monetary policy front, the European Central Bank could cut interest rates again in December. According to CME Group's FedWatch Tool, traders also see a 90.4% chance of a Fed rate cut. interest rate in November. Since gold does not yield interest, a rate cut could reduce the opportunity cost of investing in gold and increase its appeal. This week, the People's Bank of China will announce its decision on interest rates. In September this year, the People's Bank of China kept the one-year prime lending rate (LPR) and five-year LPR unchanged at 3.35% and 3.85%, respectively. The larger LPR cut should be seen as an impetus to push gold prices even higher early next week. S&P Global will release the preliminary value of the US Purchasing Managers' Index (PMI) for October next Thursday. If the PMI unexpectedly falls below 50, indicating a contraction in private sector business activity, the short-term reaction could pressure the dollar and push up gold prices. On the other hand, a positive surprise could support the dollar. The market reaction to the PMI data was not large enough to have a lasting impact on gold prices. In general, this week will be a week with quite a bit of economic data, but with the current basic picture, gold will still be focused on due to escalating geopolitical developments. Readers also need to pay attention. add other threats of conflict from China - Taiwan, North Korea - South Korea,... in addition to the Middle East region, which already has too many potential risks. Economic data to watch out for this week Monday: IMF meeting begins Tuesday: BRICS summit begins in Russia Wednesday: Bank of Canada monetary policy meeting, US existing home sales Thursday: Weekly unemployment claims; S&P Global Manufacturing and Services PMI Survey; US new home sales Friday: US durable goods orders Analysis of technical prospects for OANDA:XAUUSD As we have sent to readers throughout the publications, the gold price still has an overall bullish technical structure on the daily chart. Currently, gold closed above the 0.786% Fibonacci extension level and this is necessary for it to continue towards the next target of about 2,741 USD price point of the 1% Fibonacci level. With the trend from the price channel in the short, medium and long term, gold is in an upward trend, combined with a strong upward momentum when the Relative Strength Index (RSI) points up with a significant slope. There is no sign of a break from the overbought level, a signal that the bullish momentum continues ahead. However, the level of 2,741USD is also the closest current resistance for expectations of a short-term correction because it is also the confluence position of the edge on the price channel with the 1% Fibonacci extension level, correction price drops. Corrections are not considered trends, they only have a short-term impact. Finally, the main technical outlook for gold prices is bullish, the notable points will be listed again as follows. Support: 2,711 – 2,700 – 2,688USD Resistance: 2,741USD SELL XAUUSD PRICE 2741 - 2739⚡️ ↠↠ Stoploss 2745 →Take Profit 1 2634 ↨ →Take Profit 2 2629 BUY XAUUSD PRICE 2699 - 2701⚡️ ↠↠ Stoploss 2695 →Take Profit 1 2706 ↨ →Take Profit 2 2711
OANDA:XAUUSDLong
by Xayah_trading
3
USDJPY moves sideways on positive conditionsAs the US presidential election is approaching, uncertainties will become the main focus of the market. Signs that former President Donald Trump's chances of winning the November election are increasing could contribute to the dollar's overall performance. can keep US interest rates high, thus increasing the appeal of the USD. In the short term, the Bank of Japan's policy statement on October 31 is a notable factor in the near term for USD/JPY and the Bank of Japan's clear attitude towards the adjustment should be observed. On the daily chart, OANDA:USDJPY continues to move sideways but in terms of the overall picture, the possibility of price increases still prevails. The main uptrend is noted by the price channel with key support at EMA21, and as long as USD/JPY remains above EMA21 and within the price channel, it still has a technical upside prospect in the near term. On the other hand, once USD/JPY breaks the confluence of the upper channel edge along with the 0.50% Fibonacci retracement level it will have room to continue rising with a target then around 151.866 in the short term, more than Fibonacci level 0.618%. The relative strength index is flat above 50 but has not yet reached the overbought area, showing that there is still room for price growth ahead. The general assessment, trend and outlook of USD/JPY is technically bullish and notable levels will be listed as follows. Support: 149.364 – 148.823 – 148.113 Resistance: 150,739 – 151,866
by Xayah_trading
BITCOIN ON ITS WAY UP TO ATH. TECHNICAL ANALYSIS + TRADE PLAN Technical Analysis + TRADE PLAN by Blaž Fabjan. The image highlights an ascending triangle pattern. This is generally a bullish continuation pattern, especially if formed after an uptrend (as indicated in the chart). The price is consolidating near the resistance level, and a breakout is expected. Resistance and Support Levels: Resistance at $73,655.67: This is the key area the price needs to break above for a significant upward move. Support levels are marked at $68,556.87 and lower at $66,333.98. Price is currently hovering around $69,000. Indicators: VMC Cipher B: There are divergence signals, which often hint at potential reversals or strong continuation. The current setting shows a neutral position, but the past few signals indicate potential upward momentum. RSI (14): Currently at 67.42, close to the overbought zone (70). This suggests momentum but also indicates that caution should be exercised as it approaches overbought conditions. Stochastic RSI (14): Shows a reading of 72.43, also close to the overbought region. This is a confirming signal for potential bullishness but requires monitoring to avoid overextension. HMA Histogram: Shows bullish momentum (green) but with signs of weakening. This is typical before a breakout but worth monitoring. Volume: The volume remains neutral but could spike during the breakout above the resistance zone, further confirming the pattern. Trading Plan: Entry Strategy: Aggressive traders: Could consider entering a long position now, given the ascending triangle pattern and anticipation of a breakout. Conservative traders: Wait for a clear breakout above the resistance level at $73,655.67, confirmed by higher volume. Enter long on a retest of this breakout zone. Stop-Loss Placement: Place the stop-loss just below the support level at $68,556.87, or slightly lower to $66,333.98 for more conservative risk management. This will protect against any false breakout or trend reversal. Target Levels: First target: $74,000-$75,000 region (as indicated in the image by the upper blue line). This would correspond with a clean breakout. Second target: If momentum continues, aim for $78,000 - $80,000, which is the next major psychological resistance level. Risk-Reward Ratio: Ideally, maintain a risk-reward ratio of 1:3 or higher. For example, risking 1,000 points for a potential reward of 3,000 points, depending on your entry and stop-loss placements. Exit Strategy: Partial Profit-Taking: Consider taking partial profits at the first target to lock in gains, moving the stop-loss to breakeven to secure the trade. Full Exit: Close the position if price action significantly retraces back into the triangle or breaks below support zones. If the trade reaches the second target zone ($78,000-$80,000), consider a full exit. Risk Management: Limit the position size to avoid overexposure. Risk no more than 2-3% of your portfolio per trade. Use trailing stops to capture more profit as the price moves in your favor. Market Sentiment and Confirmation: The ascending triangle and technical indicators are leaning bullish. However, confirming volume on the breakout is essential to avoid false breakouts. Global economic factors and BTC news should also be considered for additional confirmation, particularly around major support/resistance levels. By following this trading plan and being mindful of the market conditions, you can take advantage of a potential bullish breakout while maintaining proper risk management.
Long
by elfabiiani
1
#202442 - priceactiontds - weekly update - wti crude oilGood Evening and I hope you are well. tl;dr wti crude oil: Bulls nowhere to be found. We are near the minor bull trend line starting from the September low below 64 and it is more likely that this trend line holds and we do not go below the October low 65.74. Can you long this based on that assumption? I would not. Wait for bigger buying pressure and break of the bear trend line currently around 70.4. Can you sell this? On a pullback yes, but not below 70. Quote from last week: comment: Bullish doji on the weekly with big tails above and below. 71.5 is a good low and likely to hold. I do expect another try by the bears though. Only question now is will we see 77+ before 74? I don’t know. So watch for momentum and hope along. I still favor the bulls for at least a retest of 77/78 but I do think we can hit 80 again. Given the strength of the move up, it is reasonable to expect a bigger second leg to 80 or higher. comment: Bulls started ok on Monday and the close was neutral but Tuesday really killed every last bull who bought above 71 and hoped for a second leg up above 75. Market has now left a giant bearish island reversal between 71 and 72.5 and that is as bearish as it gets. Bulls last hope now is to hold above the bull trend line at 68. current market cycle : trading range (triangle on the weekly tf) key levels: 63 - 78 bull case: No more bullish thoughts from me for now. Only an event can save the bulls. Monday they had another chance and they blew it on Tuesday. Now market has formed a big bear wedge but the hope that this will break to the upside is slim. Bull trend line at 68 has to hold or bulls will give up until 65. Invalidation is below 68 bear case: Bears won last week big time. Now they want to run all the stops below 65 and retest 63.46. Problem with their case is the bull trend line and the bear wedge. We are trading at the lows and above the bull trend line, which is a bad spot for new shorts. Any short around the daily 20ema near 71 is probably a decent trade. Invalidation is above 72. outlook last week: short term: Neutral but expecting a retest of 77 and higher again. The closer to 74 you can long this, the better is what I think. → Last Sunday we traded 75.56 and now we are at 68.69. That outlook was garbage. short term: Neutral 68-70 but leaning bearish near 71. Not the best spot to trade currently. medium-long term - Update from 2024-10-20: No idea where this wants to go in the remaining 2 months of this year so I am neutral until we have a better pattern. The big triangle on the weekly chart is alive and until that changes, no more updates. current swing trade: None chart update: Removed bullish pattern, added bear gap and bear wedge.
NYMEX:MCL1!
by priceactiontds
#202442 - priceactiontds - weekly update - goldGood Evening and I hope you are well. tl;dr gold: 4 consecutive good bull bars last week and we are on our way to 2800. I have two trend lines pointing to at least 2760, so the last thing I want to be here is bearish. Clearly W5 of this rally and we will likely see bigger profit taking into year end or early next year. Quote from last week: comment: Longer pullback than expected and stopped out on a long but got back in since 2620 held and bulls rallied hard on Friday. I do think it’s bullish only and we will likely make a new ath and also a decent chance to break above again for 2750+. comment: Bullish it was and still is. 2800 is the next big target to hit. After 4 very strong consecutive bull bars, you can not hold a bearish thought while the market makes daily new ath. Two upper bull trend lines are still to hit, one of them leads to 2760 and the other to 2800. On the monthly chart we are in a 8 month micro channel upwards without any selling pressure. At some point market will pull back more and we will see a correction but until we see much greater selling pressure, we can not trade on hope. current market cycle: very strong bull trend key levels: 2650 - 2800 bull case: All arguments are on the bull side and they have a big round number ahead. Any pullback will likely be bought, unless some event would change that. Invalidation is below 2650. bear case: Bears got nothing right now. If they somehow break below the most recent trend line below 2650, that would be a start but they would have to keep the market below 2700 then and make it go more sideways longer before it can reverse more. They know it’s the third leg up (W5) and 2800 is the obvious target. Most will likely not do much until we hit it. Invalidation is above 2820. outlook last week: short term: Bullish for 2700+ → Last Sunday we traded 2676 and now we are at 2730. Perfect outlook, hope you made some. short term: Bullish for 2800. medium-long term - Update from 2024-09-22: Very strong breakout above, again. Market currently has no ceiling. Most likely 2700 next and I do think 3000 could be a potential target if we continue. There is certainly an argument for a measured move based on the bull rally from 2018-08 to 2020-08. current swing trade: None chart update: Added latest bull gap
COMEX_MINI:MGC1!Long
by priceactiontds
#202442 - priceactiontds - weekly update - sp500 e-miniGood Evening and I hope you are well. tl;dr sp500: 4 different upper bull trend lines for multiple wedges and all are kinda valid. You just never know which one will be most respected by the algo’s. 6000 is the target, much more likely we get there before a bigger correction. Don’t try to be the first bear on this. Quote from last week: comment: Two decent days were enough for the bulls to make new ath. Again a bad place to trade, 8 points below the new ath. We have nested bull wedges and market broke above the bigger one. Odds favor some pullback but I would rather wait and be flat than to short this. comment : Monday made the 50 points higher and that’s all bulls achieve last week. We had two pause bars on the daily chart with Tuesday and Thursday but that was not enough to put doubt in bulls minds that this rally is over. 6000 is the target and, same as dax, we will likely hit it one way or the other. current market cycle: nested bull wedges key levels: 5800 - 6000 bull case: Bulls know technically we are at the top of them all and the rally is on it’s last legs. Big round numbers are still just too good to not hit if history tells us anything. Bears are not doing anything and not enough bulls are taking profits, so the market only knows one direction. As long as we are staying above the two bull trend lines that are closest, bulls are good and we continue. Invalidation is below 5800. bear case: Bears are not doing enough. They have many reasonable targets below but what good are those if the 4h 20ema keeps getting bought almost the entire week? Can you sell new highs for a scalp? Sure. Bears need anything below 5800 to start having arguments. Reasonable scalp is probably a break below 5850 for 5800 but as of now, there isn’t much more to expect for Monday. I am open to surprises though. Overall I just doubt many bears want to short 5900 when they know everyone wants to see 60000 and there is much more value to short there. Invalidation is above 6050. outlook last week: short term: Neutral since we are exactly at the top of two big patterns and 8 points below the ath. Sitting on hands is best here. → Last Sunday we traded 5859 and now we are at 5906. Neutral wasn’t too bad since market made 60 points on the week. Wasn’t good either, I know. short term: Neutral between 5870 - 5930 and bullish above 5930 for 6000. medium-long term - Update from 2024-10-13 : Very rough guess for the remaining trading weeks in 2024. Spike up, decent correction (~10%), nasty (blow off top) year end rally if earnings hold in Q4. Don’t trade based on that guess. current swing trade: None chart update: Adjusted the many bull trend lines to show it’s pure guesswork which one will be respected. All are valid until clearly broken. Big dotted means that the pattern is on the weekly or monthly chart, and some breaks above are tolerable and do not mean the pattern is invalid. Close is always close enough.
CME_MINI:MES1!Long
by priceactiontds
ES_F Day Trading Prep Week 10.20 - 10.25Last Week : Last week Globex opened and held over Value, for any weakness from there we needed to either get back under Value middle or tag VAH and come back in, instead we pushed up into VAH before the RTH which brought in more buying and gave us a push to test the upper Edge of this HTF Range we have accepted in. As mentioned Monday first tags of big HTF areas like that more often than not give a reaction into opposite direction, which we got the following day with a flush back into Value but that supply was bought up and we again pushed outside of Value. Last two days of the week we ended up balancing between VAH and Edge keeping the price inside the new HTF Range with a close right under the Edge, under Monday and Thursday Highs. This Week : This week I am leaning towards us staying within the current HTF Range as we again don't have much of market moving data coming. Something to look for is if we still have strong enough buying in/over Value then we could continue balancing around this current Intraday Range of 930s - 880s BUT we do have a week of Supply built up here and we are right at the Edge of the HTF Range which tells me that unless we can build up inside the Edge then push over and continue to VAL above or hold the Edge on pull backs after taking it then I wont be looking for much higher prices from here but instead for a possible return back to VAH and possibly a move back inside Value into 880s - 40s Intraday Range, with supply above we could see a return back to 870 - 50s and even pushes towards 40s and VAL. If we do make moves towards VAL we need to be careful with looking for too much continuation under 50 - 40s unless we can take out VAL and show clear acceptance under it, until then we can spend time balancing around this current Value thats if we get back inside of course which would mean for pushes out of VAH and VAL would find their way back inside eventually. We could continue to grind higher here to start the week and attempt to push inside the Edge to try and build up there but as mentioned careful looking for continuation unless we get through the Edge top and don't come back in.
CME_MINI:ES1!
by HollowMn
GOLD MARKET ANALYSIS AND COMMENTARY - [Oct 21 - Oct 25]This week, OANDA:XAUUSD continuously increased sharply from 2,637 USD/oz to 2,723 USD/oz and closed this week at 2,721 USD/oz. According to market observations, gold prices have skyrocketed in recent days due to the impact of many supporting factors: First, the FED warned that it will continue to cut interest rates, although the extent of the FED's interest rate cuts may be less than the recent decision. Not only the FED, but many other central banks have also been implementing their plans to cut interest rates. This increases the appeal of gold. Second, the level of public debt worldwide is even worse than current forecasts, while the measures that countries are taking will not be enough to prevent a sharp increase in public debt. According to the IMF, global public debt will exceed 100 trillion USD, equivalent to about 93% of global GDP, by the end of this year and will reach nearly 100% of global GDP by 2030. Third, as central banks continue to walk the thin line between promoting economic growth and controlling inflation to prevent stagflation, global geopolitical tensions appear to be increasing day by day. Major conflicts between Ukraine and Russia, growing threats between Russia and NATO, Israel-Palestine conflict, tensions between Israel and the US with Iran, tensions between North Korea and South Korea, and many more threats Another threat has been increasing the role of gold as a haven. Fourth, after Russia was removed from the SWIFT system on March 1, 2022, BRICS central banks increased gold reserves at a record pace, promoted currency swaps, and promoted transactions. across borders between BRICS countries is a sign that they are preparing for a global monetary reset. Meanwhile, BRICS member countries account for about 40% of global GDP. This will certainly have a negative impact on the USD. Fifth, central banks of many countries are continuing to promote gold purchases to increase the proportion of gold in national foreign exchange reserves, causing the proportion of USD in foreign exchange reserves of many countries to decrease. down, potentially at risk of USD depreciation. With so many of the above influencing factors, especially geopolitical conflicts, next week's gold price may increase even higher. However, the increase in gold prices is being driven by FOMO psychology, which will pose strong profit-taking risks, especially when geopolitical tensions cool down. 📌Technically, the price is constantly setting new high price thresholds, when in turn breaking through old peak milestones, specifically in the H1 chart, the gold price is approaching the 161.8 Fibo zone, and next week it may continue to conquer. Recovering the Fibo threshold of 261.8 around the round resistance level of 2,800 USD/oz. Notable technical levels are listed below. Support: 2.741USD Resistance: 2.688 – 2.700 – 2.711USD SELL XAUUSD PRICE 2801 - 2799⚡️ ↠↠ Stoploss 2805 BUY XAUUSD PRICE 2624 - 2626⚡️ ↠↠ Stoploss 2620 BUY XAUUSD PRICE 2659 - 2661⚡️ ↠↠ Stoploss 2655
OANDA:XAUUSDLong
by Xayah_trading
1
$SPY Outlook for OCT 21, 2024AMEX:SPY headed into this week is an inside bar / 1 / harami. Means an explosive move is coming. Got a 2-1-2 going into Monday. The overall market structure is still bullish with higher lows and higher highs. There's no real catalyst ' yet ' for a big bearish move. I'd watch how Sunday night's global opens and see what transpires during the London session of NYSE:ES SEED_ALEXDRAYM_SHORTINTEREST2:NQ There still a GAP downside that was not completely filled last week. #SPY is in this rising wedge pattern and been respecting the TL (Green/Red). The pivot for SPY will be 583.99 - 584.55. If the bulls hold above that, you will see 585.39 get taken and then potentially 586.12. Failure by the bears to stop the move up and 587/587.35/588 will be on the path. If the bears take control and break the pivot zone, then you will see 583.67 / 583.2 / 582.6 / 582.33 and 581.82 / 581.5 / 580.9 Market Structure starts to change with a break of 582.16. A true MSS comes at 565 break. Keep in mind, there is a divergence between NASDAQ:QQQ and AMEX:SPY This is NOT FINANCIAL ADVISE! #SPY #MSFT NASDAQ:AAPL #AAPL NASDAQ:AMZN #AMZN NASDAQ:QQQ #QQQ #ICT NYSE:ES #ES SP:SPX #SPX #thestrat SEED_ALEXDRAYM_SHORTINTEREST2:NQ AMEX:SPY #NQ NASDAQ:MSFT NASDAQ:TSLA #TSLA NASDAQ:NVDA NASDAQ:AMD #NVDA #AMD
AMEX:SPY
by SADnation
Nasdaq Monthly Analysis - Possible Measured Move CorrectionThere may be a lot of choppy price action at the top of this trading range until price definitively starts to trend down to facilitate the correction or break out to make new highs. The reason for speculation that Nasdaq may be due for a correction is based on the current impulsive wave's similarity to the previous impulsive wave in both price and time. If the current impulsive wave has reached exhaustion it will be an approximate measured move of the previous impulsive wave with increase factors of: 1.022 increase in price range (10,365÷10,142) 1.046 increase in days to climax (637÷609) If the upcoming correction is also a measured move of the previous correction, using the calculated increase factors, the correction should be projected to occur over approximately 340 days (325×1.046) and decline by approximately 6,483 Points (6,344×1.022). This would bring price to 14,309 (20,792-6,483) around the date of June 16, 2025, which would also bring price back to the trend line. The projected correction, based the listed calculations, may retrace 77 Points below the 61.8% level (14,386-14,309). It is also worth mentioning that the previous correction retraced 76 Points below the 61.8% level (10,503-10,427). This difference in retracement below 61.8% is a factor increase of 1.013 (77÷76). On the monthly timeframe, technical indicators such as Stochastic and RSI show price as overbought.
OANDA:NAS100USD
by MartialChartsFX
6
Gold reached all-time high and hit weekly targetHello traders, As you can see gold reached all time high time record.And reached the weekly target as anticipated, so the analysis went to our favor and gave us a Great trade. After gold broke the fourr hour level, it Made a break and a retest and made a rebound on the one hour time frame at exactly 2673 The bullish momentum took place againand buyers.Took control of the market and pushed gold higher and higher until reached the weekly target. After this long run making a tree leg extension as you can see on the chart, there is a high probability that the market will reverse.And we might see a huge sell off of gold in order to breathe until.Buyers and bullish momentum comes back again and takes the gold market higher again because this is very normal. After a long run being bulish or bearish.There should always be a big.Correction. Remember.After every long run there is a steep pullback and that's what we gonna see in the coming days. So guys.Be prepared for selling gold, but not this week, probably next week or the following week.
OANDA:XAUUSDLong
by YMtradingsystem
Refreshing all-time level, GOLD is eligible to continue risingAs uncertainty about the US presidential election and war in the Middle East push investors to seek safe haven assets, and the monetary policy environment that tends to lower interest rates are the main factors pushing push up gold prices. After the Federal Reserve cut interest rates by 50 basis points last month, gold prices are set to gain more than 30% this year, driven by the prospect of further rate cuts and geopolitical uncertainty. Since gold does not yield interest, cutting interest rates could reduce the opportunity cost of investing in gold and increase its appeal. On the geopolitical side, Prime Minister Benjamin Netanyahu said Israel will continue to fight until all hostages captured by Hamas last year are released. During times of geopolitical and economic uncertainty, investors often seek the safety of gold. Israel announced that Hamas leader Sinwar was dead On October 17 local time, Israeli media quoted senior Israeli officials as saying that Hamas leader Yahya Sinwar was killed by the Israeli army. Earlier on the same day, the Israel Defense Forces and the Israel National Security Agency (Sin Bet) issued a joint statement saying that, according to preliminary reports, the Israeli army killed 3 Palestinian armed personnel during the attack. military operations in the Gaza Strip. The Israel Defense Forces and the Israel General Security Agency are verifying whether one of them is Hamas leader Yahya Sinwar. Sinwar masterminded Hamas attacks on southern Israel, sparking a year-long war in Gaza. Concerns about the future of the US government are also driving demand for precious metals. With three weeks to go until the election, polls show the two candidates tied, creating uncertainty. On Thursday, economic data released by the United States supported the view that the economy will maintain strong growth in the third quarter. Signs of economic recovery may not prevent the Fed from cutting interest rates once next month, but they will reinforce expectations of a 25 basis point rate cut. Data released by the U.S. Department of Commerce on Thursday showed retail sales rose 0.4% month-over-month in September, better than the 0.1% gain in August and better than expected. will increase by 0.3%. In addition, the number of Americans applying for unemployment benefits unexpectedly decreased last week. According to data released by the U.S. Department of Labor on Thursday, initial jobless claims fell by 19,000 to 241,000 in the week ended October 12. Economists surveyed had forecast The average number is 259,000. Bloomberg said Western investors also contributed to driving up gold prices. Western investors largely sat on the sidelines in the first half of the year as demand surged in Asia. The Federal Reserve's shift to a looser monetary policy has increased the appeal of gold-backed exchange-traded funds (ETFs), with their gold holdings on track to increase. 5th consecutive monthly growth in October for the first time since 2020. Longest capital flow since the beginning of this year. Analysis of technical prospects for OANDA:XAUUSD On the daily chart, gold has reached its target level of $2,711 after strong gains and is on track for a fourth consecutive day of gains. Structurally, gold is still on a short-term uptrend, noticed by price channels, and even in the medium and long term, it is also increasing with price channels as the trend. Once gold breaks the 2,711 USD price point of the 0.786% Fibonacci extension, it will have the prospect of continuing to increase in price with the target level then being around 2,741 USD the price point of the 1% Fibonacci extension. Regarding momentum, the Relative Strength Index is pointing up with a significant slope and has not yet completely reached the overbought level, showing that there is still room for price increases ahead, with absolutely no signs of possible reduced corrections and showed solid upward momentum in the market. As long as gold remains within the price channel it will remain bullish in the short term, notable technical levels are listed below. Support: 2,700 – 2,688USD Resistance: 2,711USD SELL XAUUSD PRICE 2741 - 2738⚡️ ↠↠ Stoploss 2744 →Take Profit 1 2633 ↨ →Take Profit 2 2628 BUY XAUUSD PRICE 2664 - 2666⚡️ ↠↠ Stoploss 2660 →Take Profit 1 2671 ↨ →Take Profit 2 2676
OANDA:XAUUSDLong
by Xayah_trading
2024-10-17 - priceactiontds - daily update - daxGood Evening and I hope you are well. tl;dr Indexes - Bullish spikes on all of them but markets closed mixed. All closed with a big tail above and we are where we closed yesterday. Near but still above the daily 20ema, near bull trend lines but also with bulls not strong enough to get a big breakout above with follow through. Most of the current patterns are in their last stages and the breakout will happen over the next days. I am neutral for now and scalp in both directions. dax futures comment: Big spike to new ath but also big rejection. Market is contracting inside the clear bull wedge. I doubt we get the breakout tomorrow but it could happen but next week for sure. Where will this break out to? Right now I favor another leg down to 19500ish more than a breakout above. On the daily chart it’s bullish and nothing else. I still do have my 20000 target. current market cycle: bull trend key levels: 19500 - 20000 bull case: Bulls touched 19800 and got rejected, no surprise there. Only question is how fast do will they retest that price. It’s possible that we need to sell some more to find new buyers but I do think bulls have a better chance of the blow off top if they stay above 19600. Since we are oscillating around 19700, I can’t be anything but neutral for now. Invalidation is below 19500. bear case: Bears need a daily close below 19500 to break outside the bull wedge inside the bigger bull channel on the daily chart. Volume is increasing which is better for the bears than the bulls but they can’t print one decent daily bear bar and until that changes, you simply can not be a bear here. Invalidation is above 19820. short term: Neutral. Bullish above 19820 and bearish below 19500. medium-long term - Update from 2024-10-06: 3 Months left in 2024 and I do think the market is in a trading range where the upper area is around 19500 and the lower area is probably 17000 or 16000 if something bigger comes up. Since we are at the very top, I expect the market to go some sideways before trying to go down again. Not so sure about 19491 being the high, since liquidity could see a bigger increase and upside could be higher. We will likely have another 10%+ correction this year and a possible year end rally. Update 2024-10-13: Possibility of a blow-off top to 20000 is there. If we get there, it will be the short opportunity of the decade. current swing trade: None trade of the day: S elling 19800 or buying the opening breakout above 19640, which was good for 160 points.
EUREX:FDXSZ2024
by priceactiontds
A significant update on Nasdaq today Hello traders, This is a new update of the NASDAQ market after the release of the data news.Uh uh, that came uh, stagnant stable as expicted 241K, not much happened, but as you can see from the chart, the NASDAQ market really bounced.Off of the 50 moving average and went down a little to stop out traders who were putting their stop losses.Right below the 1 hour level 20300 and that is a trick that institutions, financial and money institutions and funds due in order to stay alone in the market and get rid of all the.Other traders and as I told you before, the market may go down for a correction and still move up since.There is no real impact on the market. I'm pretty sure that the target will be still the daily level that we.Talked about.Earlier, which is?Umm. 20474.And if that level is.Are broken. We should wait for a Pull back and then look for a long trade.to go and seek the next level which will be 20744.So please keep watching that level. As long as we have a bullish momentum, we should look only for a buy trade, not a sell since the four hours. the daily chart are still bullish and there is still a bullish momentum, so we should look for a buy.trade not sell trades. Thank you for your attention and good luck for everyone and take care.
FXOPEN:NDQMLong
by YMtradingsystem
4
Great bullish momentum in Nas100 Hello traders, As you can see, there is a strong amendment, a bullish momentum today in NASDAQ, giving us a great opportunity for a bullish a long train.As you can see from the chart, there is.an inclination to go up upward to reach the daily level of 20474 which is.A higher.Target, So please keep in mind that this is a trade that we took pre market since early in the morning the market showed some significant volume.With the.Upside move of the standard deviation. Also a breakthrough of the 50 moving average.That gave us more confluence that the market is going higher to reach the daily level. So please keep in mind that today we have an.Economic data that will be released today for the.Uh, uh, what is it? Umm, the uh.Excuse me? Initial jobless claim is gonna be released today and if it is positive, so we might see an upside down of the trend where we'll have like.a move downward or a reversal of the trend if so we should be looking for 20124 level which is a previous daily level which is well respected. And as you can see from the chart, those lines are very very.Helpful that show us it's like a road map for the price action to be moving.From level to level, this is how we can make money off of.It's pretty simple, but it's really effective, so please pay attention to those levels and let's make money together..
FXOPEN:NDQMLong
by YMtradingsystem
New news from the Middle East, GOLD gains and positive outlookOANDA:XAUUSD Reaching the target price increase at an all-time high of 2,685 USD, the haven asset continues to get stronger as the Middle East situation becomes tense again. Israeli sources say Israeli Prime Minister Benjamin Netanyahu has approved a series of targets in retaliation for Iran's missile attack on Israel earlier this month. US B-2 bombers have attacked weapons storage sites of Houthi rebels in Yemen in an effort to stop attacks by Iran-backed groups. US media mentioned that the US military's latest measures have disrupted the Red Sea supply chain. The US Department of Defense announced that US military forces carried out precision strikes on five underground weapons storage sites in Houthi-controlled areas of Yemen. US Central Command indicated that assessment of combat damage from airstrikes in Yemen is ongoing and there are currently no civilian casualties. Bloomberg reported that US B-2 stealth bombers attacked weapons storage locations related to Houthi rebels in Yemen. American B-2 bombers fly to the target from Whitman Air Force Base, Missouri. This is the first combat mission of this wing-shaped stealth bomber since January 2017. At that time, two B-2 bombers flew a 30-hour round-trip mission to bomb an Islamic State training camp in Libya. Each B-2 is capable of carrying up to 20 tons of bombs, including 80 500-pound GPS-guided projectiles. "This type comes to Vietnam in about half a day and can only be used to make rice cookers, combs, water ladles, trays, buckets, basins,... that's it." Meanwhile, the market sees a 92.1% chance that the US will cut interest rates by 25 basis points in November, according to CME's "Fed Watch Tool". Analysis of technical prospects for OANDA:XAUUSD On the daily chart, gold has an upside target at its all-time high of $2,685 and it currently has the conditions to break this level and refresh its all-time high in the short term. A short rising price channel is formed, notably by the price channel and the nearest support is currently in the area of ​​2,672 – 2,660USD. RSI points up but is still far from the overbought level, showing that there is still plenty of room ahead. In general, on the daily chart, from technical position to space and momentum, gold is likely to increase in price in the near future. If the $2,685 level is broken gold will tend to continue rising with a target then around $2,700 as the whole price point or more like the $2,711 price point of the 0.786% Fibonacci extension. The uptrend in gold prices on the daily chart will be noticed again by the following technical levels. Support: 2,672 – 2,660USD Resistance: 2,685 – 2,688 – 2,700 – 2,711USD SELL XAUUSD PRICE 2701 - 2699⚡️ ↠↠ Stoploss 2705 →Take Profit 1 2694 ↨ →Take Profit 2 2689 BUY XAUUSD PRICE 2642 - 2644⚡️ ↠↠ Stoploss 2638 →Take Profit 1 2649 ↨ →Take Profit 2 2654
OANDA:XAUUSDLong
by Xayah_trading
2024-10-16 - priceactiontds - daily update - goldGood Evening and I hope you are well. tl;dr Gold - Bulls got the breakout above and got rejected at 2700 again. I think we will spend a bit more time at the highs until bulls give up or we find more buyers willing to buy above 2700. Right now I still favor the bulls for continuation but only willing to buy on strong momentum. comment : Retest 2700 is done, now what? We have a proper channel, so trade it. 2690 right now is not a good spot. Wait for a closer price to the lower trend line or look for shorts near 2700, if bulls show weakness again. New highs inside the channel are getting sold, so you should not buy into strength but rather on pullbacks. current market cycle: bull trend (also trading range on the daily chart - 2619 - 2710) key levels: 2670 - 2710 bull case: Bulls will likely retest 2700 tomorrow. Can they get another big breakout above it? I think so but right now it does not look like it. I expect more sideways until the bull trend line on the daily chart is closer. Bulls still in full control and I would not look for shorts on this. Invalidation is below 2670. bear case: Bears selling new highs but thats about it. Market is grinding higher again and we are near the ath. Nothing bearish about this. Bears can start a case if they close below 2670 again. Invalidation is above 2720. short term: neutral - I would not buy 2700 in hope of 2710 but rather buy decent pullbacks inside the current channel. medium-long term - Update from 2024-09-22: Very strong breakout above, again. Market currently has no ceiling. Most likely 2700 next and I do think 3000 could be a potential target if we continue. There is certainly an argument for a measured move based on the bull rally from 2018-08 to 2020-08. current swing trade: None trade of the day: Selling 2700.
COMEX_MINI:MGC1!
by priceactiontds
2024-10-16 - priceactiontds - daily update - sp500Good Evening and I hope you are well. tl;dr Indexes - Bears hoped for a second leg down and build decent selling pressure but bulls bought the dip. Nothing unexpected and we likely continue sideways at the highs until bears give up again or more bulls get exhausted and want to secure profits. Technically I expect another leg down but we could retest the highs first. Don’t overstay your welcome in positions. comment: 5850 was the low yesterday and bears could not break below. Weak bears gave up and we closed around the 50% pullback from Tuesday’s selling. Where does this leave us? Nowhere. 5890ish is the worst place to trade now because it’s the exact mid point of this trading range. Wait for strong momentum or until we reach one of the extremes again. These bullish earnings should have taken the market higher by now if you ask me. So there is a decent chance we are forming a credible top. 5850 - 5920 is the current range and until we see the MAG7 earnings, it probably won’t break out of it. current market cycle: bull trend (bull wedge) key levels: 5850 - 5920 bull case: Bulls bought the dip, no surprise there. They want 5900+ next and they will probably continue to buy 5850. No more magic to this. Since it was a bullish close, bulls are very slightly favored higher tomorrow but I would not buy 5886 right now. Invalidation is below 5850. bear case: Bears tried and failed. They have to make the market more neutral and trade sideways until more bulls want out of their position. BTFD is still strong. Anything above 5850 is bullish and bears have to scalp. Earnings will probably set the next impulse to either side. Invalidation is above 5920. short term: Neutral inside given range. medium-long term - Update from 2024-10-13: Very rough guess for the remaining trading weeks in 2024. Spike up, decent correction (~10%), nasty (blow off top) year end rally if earnings hold in Q4. Don’t trade based on that guess. current swing trade: Nope trade of the day: Long the double bottom with yesterday’s low. Very obvious trade that worked greatly.
CME_MINI:MES1!
by priceactiontds
WILL EIGEN REACH $4 BEFORE END OF OCTOBER? The probability of reaching $4 is very possible. Here are my confluences: - Weekly Low at $3.29 which had liquidity resting just got raided. - Q4 has seasonally been great for Cryptocurrencies over the years so I expect a great end to Q4 for EIGENUSDT. - Price is currently testing the Daily Bullish Order Block which is within the Range Discount Array. - There is more Liquidity resting above current price rather than below current market price. - Targeting price to reach $3.72 , $3.91 and $4 for this Long entry. Trading is risky so always use proper risk management. Happy Trading Pals
Long
by Evaliste
GOLD reaches price increase target, outlook remains positiveUS inflation data reinforces the prospect of an interest rate cut next month. Gold prices rose more than 1% in the weekend's trading session, while safe-haven demand triggered by rising geopolitical tensions in the Middle East. The U.S. Department of Labor reported Friday that the Producer Price Index (PPI), a measure of wholesale prices, was unchanged in September, suggesting the inflation outlook remains favorable and supporting the view that the U.S. Department of Labor The Federal Reserve will cut interest rates again next month. The report showed that US PPI increased 0% month-on-month in September, lower than the expected 0.1%, the previous value was a 0.20% increase. Commerzbank reported that gold ETF holdings increased by nearly 95 tons in the third quarter, meaning ETFs once again contributed positively to gold demand for the first time in 10 quarters. This week, the market will focus on US retail sales data to determine whether consumer spending will continue to be strong. In addition, the European Central Bank's monetary policy decisions are also the focus of market attention. Traders will need to keep an eye on (Empire State Manufacturing Survey; US Weekly Jobless Claims and Philly Fed Manufacturing Survey, as well as data on building permits and construction starts US housing on Friday.) In summary, although the gold market may experience volatility in the short term, in the long term, the safe haven asset gold is still the main factor supporting price increases. Including the recent reduction of interest rates by the Federal Reserve, attracting investors to choose gold as a haven, combined with the widespread war in the Middle East, has further boosted gold prices, because gold is considered an investment channel. safety, especially during difficult times. geopolitical conflict. Going back a bit in history, in 1979, during the Soviet conflict in Afghanistan, the value of gold more than doubled during that period. If Israel carries out retaliatory attacks against Iran, the gold price has absolutely enough basis to continue to surge even stronger. Previously, on October 1, Tehran fired about 180 missiles at Israel in retaliation for Israel's killing of Hamas and Hezbollah leaders. Economic data to watch next week Tuesday: Empire State Manufacturing Survey Thursday: European Central Bank monetary policy decision, US retail sales, US weekly jobless claims: Philly Fed manufacturing survey. Friday: Housing construction starts and construction permits in the United States Analysis of technical prospects for OANDA:XAUUSD During the weekend trading session, gold achieved the target increase in the weekly issue sent to readers last week and the upward momentum was temporarily limited by the technical level of 2,660 USD. If gold breaks above 2,660 USD, it will be eligible to continue to increase in price with the next target level after that at about 2,672 USD, more than 2,685 USD. Breaking the $2,660 level means that the price channel is also broken, while the Relative Strength Index pointing up with a significant slope reinforces the expectation of strong price increases in the near future. As long as gold remains within the price channel and above the EMA21, the bullish outlook and the technical structure for the uptrend are unchanged, pullbacks should still only be considered short-term technical corrections. In the coming time, the main prospective trend of gold is price increase and notable levels will be listed as follows. Support: 2,634 – 2,630USD Resistance: 2,660 – 2,672 – 2,685USD SELL XAUUSD PRICE 2686 - 2684⚡️ ↠↠ Stoploss 2690 →Take Profit 1 2679 ↨ →Take Profit 2 2674 BUY XAUUSD PRICE 2627 - 2629⚡️ ↠↠ Stoploss 2623 →Take Profit 1 2634 ↨ →Take Profit 2 2639
OANDA:XAUUSDLong
by Xayah_trading