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The geopolitical situation is hotter in many placesIn early trading on Asian markets on Thursday (November 21), OANDA:XAUUSD Spot delivery suddenly increased rapidly in the short term and gold prices are currently approaching the 2,660 USD/ounce mark, threatening the trend from the price channel. Growing concerns about the Russia-Ukraine conflict, along with growing uncertainty in global markets, have supported gold's strong recovery this week. On Wednesday, as tensions between Russia and Ukraine escalated, leading to increased geopolitical unrest, investors sought the safety of gold, seen as a hedge against the risks of conflict instability. In response to Ukraine's first long-range missile attack on Russian territory, Russian President Vladimir Putin revised the nuclear weapons guidelines to lower the threshold for nuclear retaliation in response to an attack. series of conventional attacks, leading to increased geopolitical tensions. In addition to the situation between Russia and Ukraine, the tense situation in the Middle East is also a factor supporting gold prices. According to the official website of the United Nations and CNN, on November 20 local time, the United Nations Security Council voted on a ceasefire resolution in Gaza proposed by 10 non-permanent members. The resolution was not passed due to the United States' veto. The remaining 14 countries in the Security Council voted in favor. The resolution "demands that all parties immediately, unconditionally and permanently cease fire and reiterates their demand for the immediate and unconditional release of all detainees." In addition, the resolution further emphasizes the role of the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) as the backbone of humanitarian relief operations in Gaza. Additional information, on November 20 local time, the Israeli army attacked a house in the Sheikh Radwan neighborhood, north of Gaza City, killing 66 people and injuring dozens of others. Analysis of technical prospects for OANDA:XAUUSD Gold is currently operating in a very important position for an uptrend from the price channel with price activity attempting to move above the upper edge of the price channel. On the other hand, the Relative Strength Index is also sitting right in the middle of the 50 level, if it breaks above this level it will be a bullish signal. Looking ahead, technically gold is still below resistance levels, from the price channel to EMA21 and the Relative Strength Index. So, it is not yet eligible for a bullish cycle. As long as gold remains below EMA21, it is not yet technically in a bullish position. During the day, with the current operating position, gold is still in an upward trend and notable points will be listed as follows. Support: 2,640USD Resistance: 2,668 – 2,684USD SELL XAUUSD PRICE 2676 - 2674⚡️ ↠↠ Stoploss 2680 →Take Profit 1 2669 ↨ →Take Profit 2 2664 BUY XAUUSD PRICE 2599 - 2601⚡️ ↠↠ Stoploss 2595 →Take Profit 1 2606 ↨ →Take Profit 2 2611
OANDA:XAUUSD
by Xayah_trading
1
GOLD is headed for a 5th day of increaseOANDA:XAUUSD rose for a fourth straight day and is headed for a fifth day of gains on Friday (November 22) as safe-haven demand picks up while traders assess the prospect of further policy easing by the Federal Reserve. Federal Reserve and increasingly escalating geopolitical risks. Gold prices recovered above $2,680 and were on track for their best weekly performance since April as the war between Russia and Ukraine escalated. Ukraine says Russia has launched a "new" ballistic missile toward the city of Dnipro, sending a worrying signal to Western supporters of Kiev. Escalating geopolitical tensions often push investors toward safe-haven assets like gold. When the United States vetoed the United Nations ceasefire resolution in Gaza, relations between Russia and Ukraine became tense again, ensuring gold's long-term appeal. Investors have flocked to safe-haven assets during the global crisis and gold prices have hit multiple record highs since conflict in the Middle East erupted last October. Since the beginning of this year, gold prices have risen nearly 30%, supported by solid central bank gold purchases, growing safe-haven demand and a cycle of interest rate cuts by the Reserve Federal. Although the recovery of the US Dollar put pressure on gold prices, safe-haven demand helped gold prices offset this pressure. A stronger US Dollar often makes goods priced in Dollars more expensive and less attractive. Spot gold prices rose 4% this week, their best gain since April, recovering from their biggest weekly drop in more than three years last week. Gold's decline was fueled by a rise in the US Dollar fueled by Trump's victory in the race for the White House. Investors are also focusing on several Fed officials expected to speak this week. Market expectations for a December rate cut have weakened significantly, with the probability now at 59.4%, much lower than 82.5% a week ago. Analysis of technical prospects for OANDA:XAUUSD On the daily chart, gold broke out of the downtrend from the price channel and initially achieved the conditions for a new bullish cycle to be formed with a move above the EMA21 level. In addition, the Relative Strength Index is also pointing up to surpass 50, which is considered a signal for price increases in the near future. In the immediate future, gold will need to test and surpass the original price level of 2,700 USD. Normally, the original price levels are considered resistance or support depending on price position conditions. If gold surpasses 2,700 USD and maintains stability above the 0.382% Fibonacci retracement level, it will be able to continue to increase by more than 30 Dollars to reach the 0.236% Fibonacci level. Currently, gold has the conditions for a bullish cycle, so technically, combined with the escalating geopolitical risk of market shock, the trend of gold is leaning more towards the possibility of price increases. Notable technical points will be listed as follows. Support: 2,684 - 2,668USD Resistance: 2,697 - 2,700 - 2,732USD SELL XAUUSD PRICE 2711 - 2709⚡️ ↠↠ Stoploss 2715 →Take Profit 1 2704 ↨ →Take Profit 2 2699 BUY XAUUSD PRICE 2639 - 2641⚡️ ↠↠ Stoploss 2635 →Take Profit 1 2646 ↨ →Take Profit 2 2651
OANDA:XAUUSD
by Xayah_trading
Bearish drop off overlap resistance level?COPPER has reacted off the resistance level which is an overlap resistance and could drop from this level to our take profit. Entry: 4.1258 Why we like it: There is an overlap resistance level . Stop loss: 4.2071 Why we like it: There is a pullback resistance level that aligns with the 50% Fibonacci retracement. Take profit: 4.0203 Why we like it: There is a pullback support level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
VANTAGE:COPPERShort
by VantageMarkets
1
2024-11-21 - priceactiontds - daily update - dax Good Evening and I hope you are well. tl;dr dax xetra - Bullish. 3 times bears tried to close below 19000 and failed. Today bears only printed a higher low and the chances for the bulls are good to get above 19260, test 19360 and then melt above to 19600+. If my thesis is correct, market will not drop much again overnight or tomorrow. Anything below 19140ish is probably invalidation for that. If bears do it again, also a decent chance that bulls give up and we finally see a bigger down move but for now I heavily favor the bulls. comment : Will get a bit whacky now but bear with me. I do think today was W1 of a 5-wave series where W3 will lead to 19450ish and the bear trend line and W5 will lead to 20k because a measured move up from my W3 is almost exactly 20k. So if that will happen, you are welcome. I think the current structure is a simply if this then that case. Market stays above 19000, we will likely break above 19200 for 19450 and so forth. If we print below 19000 again, bulls might give up and we flush down in a bigger move. One side has to give tomorrow and I heavily favor the bulls. current market cycle: trading range key levels: 18800 - 20000 bull case: Bulls closed above the first bear trend line and it was another huge reversal day. Bears tried 3 times and it’s time to give up and find more sellers at higher prices. It’s entirely possible that this market will trade between 18800 and 19300 for the next year. Always be open to many possible outcomes. Invalidation is below 18869. bear case : Bears still see the trend line as not broken enough and they are still printing lower highs and as long as that is the case, they have made money selling highs and they will continue to do so. Problem for the bears is the higher low from today and that the market closed at the highs. If they manage to get below 19000 again, their odds rise and it’s possible that more bulls give up and we see a bigger move down. Invalidation is above 19310.. short term: Bullish. Want to see 19300 and maybe 19400+ tomorrow. Everything below 19000 means I’m wrong and we either chop until world ends or flush down. 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. current swing trade: None trade of the day: Very risky longs around 19000 with a wide stop below y low but they paid.
XETR:DAXLong
by priceactiontds
2024-11-21 - priceactiontds - daily update - sp500Good Evening and I hope you are well. tl;dr sp500 e-mini futures - Neutral below 5990, max bullish above. Bearish only below 5900. I have the close near a bear and a bull trend line, so tough spot for any prediction. I do think after so many attempts by the bears, they have given up and we are now free to do the second round of this blow-off top. Consider me surprised if we continue in my drawn bull channel and bears can get this down 60+ points again. comment : Daily chart tells you 4 consecutive bull bars on increasing volume. Very high chance tomorrow the bears will give up and we test 6050+ again. The bear trend line could still be valid or not, we will only know tomorrow. Above 5980/5990 we will see an acceleration upwards. On the 1h tf you can make a case for 5980 being at the crossing of bull and bear trend line but we will have an answer tomorrow morning. current market cycle: bull trend key levels: 5855 - 6100 bull case: Higher lows and higher highs. Bulls want a retest of the ath and above. I have a measured move target at 6150 and even above 6300. Bulls have all the arguments on their side for a second leg up but to get it, they would have to prevent the market from getting another strong move down to below 5920. It should probably stay above 5950 to trap many bears who sold the highs again. Invalidation is below 5940ish. bear case : Bears do not have much tbh. They sold every high the last days but selling is getting weaker and they can only do it so often before they stop and will only try higher again. Best case for bears is to stay below 5990 and do what we did the whole week, sell the highs for at least 60 points. Invalidation is above 5990. short term: Bullish. Above 5990 uber bullish for new ath. Neutral below 5950 and below. Only below 5800 I turn bear. medium-long term - Update from 2024-11-16: So the top definitely qualifies as a blow-off top but the question if we continue further up, is still valid. It is possible that we are already inside the correction and if we continue below 5860, I highly doubt bulls can get above 6000 again. Given the current market structure, I won’t turn bear because the risk of another retest of the highs or even higher ones are just too big. current swing trade: Nope trade of the day: Same as dax. Yesterdays’ lows held and longs around 5905 were beyond amazing.
CME_MINI:MES1!Long
by priceactiontds
#SNX. Great entry point and upside potential. 11/21/24Synthetix Network Token (SNX) is an Ethereum-based token powering the decentralized protocol for issuing synthetic assets, Synthetix. Synthetic assets are created when SNX token holders provide them as collateral using Mintr, a decentralized application for interacting with Synthetix contracts. Currently, the protocol supports synthetic fiat currencies, cryptocurrencies, and commodities. The situation is similar to #DYDX. The token is in a sideways trend and near the lower boundary. Buying at current levels up to $1.22 is a reasonable idea for spot trading. The nearest target is $3.144. On spot, you can easily achieve at least a 2x return.
Long
by trendbooster
#BTC 2H. Ascending triangle & trend continuation. 11/19/24Earlier, the price formed an "ascending triangle" pattern—a continuation pattern that occurs when the price gradually forms a series of higher lows while the upper boundary (resistance) remains flat or slightly rising. This signals a narrowing range and potential further growth. And I warned you about this in advance! (By the way, which of your traders describes patterns this thoroughly?). But that’s not the point now. According to technical analysis theory, if the price breaks out of the ascending triangle pattern, its movement usually matches the height of the pattern, measured from the base to the peak. If we follow the idea that the movement after the breakout equals the pattern's height, Bitcoin’s price could reach the $100,000 level. And honestly, why not? At the same time, earlier this week, the market was in a "bullish" trend, meaning prices were rising. By the close of trading on the CME exchange on Friday, the price was around ~$92,000. I assume this price will become an important reference point (including a support level) that the price will aim for in the near future.
Long
by trendbooster
Ukraine is dangerous, GOLD receives support from risksOn Wednesday (November 20) on the Asian market, spot gold continued to increase in the short term. Gold price has just retested the mark of 2,640 USD/ounce, increasing sharply to reach nearly 10 USD during the day. Growing concerns about the Russia-Ukraine crisis have caused gold prices to rise further. It is worth noting that geopolitical tensions flared up again due to information that the Biden administration authorized Ukraine to use US-made weapons to attack Russian territory last weekend. Geopolitical tensions, economic risks and a low interest rate environment have enhanced the appeal of gold. Bloomberg of the US commented that as the conflict entered its 1,000th day, Ukraine used its newly acquired long-range missile capabilities to attack a military base on Russian territory. Moscow has warned against such actions and stepped up threats of nuclear responses to conventional attacks. Russia's war in Ukraine has entered a dangerous new chapter On Tuesday local time, Ukrainian forces used the US Army Tactical Missile System (ATACMS) for the first time to attack a facility in Russia's Bryansk Oblast. The Russian Ministry of Defense confirmed that Ukraine used missiles from the US military's Tactical Missile System to attack Russia and that Russia's anti-missile system shot down 5 out of 6 missiles. On Tuesday local time, Russian President Vladimir Putin signed a decree approving a new version of Russia's basic national policy on nuclear deterrence, which took effect from the date of signing. The new version of the policy expands the range of countries and military alliances with which Russia can exercise nuclear deterrence, and proposes to consider "aggression against Russia by any non-nuclear state with the participation or support of nuclear states" is a "joint attack". against Russia. (Directly aimed at America) Bloomberg noted that two developments on Tuesday worried investors, causing investors to rush into safe-haven assets, especially gold. On the daily chart, gold tested the 0.618% Fibonacci retracement level at $2,640, which is an important technical point for the downtrend that readers should pay attention to through the price channel. Currently, gold still has conditions to decrease in price with the main trend from the price channel and the main pressure from EMA21 still maintained. On the other hand, the Relative Strength Index is also creating a curve as it approaches the 50 level, which shows that buying is slowing down. Technically, gold still has a more bearish outlook. However, if it breaks the price channel and rises above the EMA21 level, a new uptrend could open. During the day, the bearish technical outlook still prevails and the notable points are listed below. Support: 2,605 – 2,600USD Resistance: 2,640 – 2,668USD SELL XAUUSD PRICE 2653 - 2651⚡️ ↠↠ Stoploss 2657 →Take Profit 1 2646 ↨ →Take Profit 2 2641 BUY XAUUSD PRICE 2589 - 2591⚡️ ↠↠ Stoploss 2585 →Take Profit 1 2596 ↨ →Take Profit 2 2601
OANDA:XAUUSDShort
by Xayah_trading
5
2024-11-20 - priceactiontds - daily update - daxGood Evening and I hope you are well. tl;dr dax futures - Neutral. More sideways, all given levels still valid and another disappointing day for the bulls. Also a perfect doji when US closed. If you missed my weekly and the update from yesterday, catch up on those. Otherwise move on. comment: Neutral market around 19150. No deeper meaning until we see the next big move which also closes at the lows or highs. Range and pattern is getting too tight and we will likely see the big move tomorrow or Friday. current market cycle: trading range key levels: 18800 - 19360 bull case: No side has an advantage here. Midpoint of the weekly range is 19114 and market closed us session at 19143. Above 19300 we likely go to 19359 and if we break above that, we go much much higher. Invalidation is below 18869. bear case: Bears did not dip below 19000 which was good for the bulls but still a daily doji, so no deeper meaning. Bears want a daily close below 19000 bad. If they get it, chances are high that this bull trend is over and we will see much lower prices. Until then, play the range and don’t swing for the fences. Invalidation is above 19350. short term : Neutral. Max bullish above 19360 and max bearish below 18860. 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. current swing trade: None trade of the day: Market made only lower highs since bar 33 and selling it was ok on bar 42 or latest 55. Reasons to exit was bar 59 if bar 60 would have traded above it but it did not so bar 61 was a decent bull bar and 62 good follow through, had to get out of longs there latest. Could you also go long then? I would not. Too big of a risk that 15m 20ema is resistance and market is trying to test breakout price from bar 48, which it could not even get up to. I also think buying the double bottom 75 + 77 was ok.
EUREX:FDXSZ2024
by priceactiontds
2024-11-20 - priceactiontds - daily update - goldGood Evening and I hope you are well. tl;dr gold - Bullish target was met with 2650 and now it’s big decision time. Bear trend line and daily 20ema was hit. By Friday we will know which way market wants to go. Expecting sideways to down tomorrow but everything below 2600 would surprise me. comment : Very bullish week so far to potentially big resistance. My preferred path is a two legged correction and we are in the A of it. Market has to pull back soon but if bulls get above 2660, we will see 2700 soon. Last thing I want to do this week is looking for shorts in this. current market cycle: trading range key levels: 2620 - 2700 bull case: Bulls are in control again. They now only need a strong close above the daily ema to make the last bears run for the exits. Can they get it before a pullback? I doubt that. Not much more magic to it. Big bull trend is still valid but the peak euphoria is over and we will likely see more bearish legs in between since bears made big money previous 2 weeks. Invalidation is below 2600. bear case: Bears who sold late are trapped, they need a pullback to get out of their position. They are at 3 very important prices. Breakout retest is around 2650-2660, daily ema is here and the 50% retracement is at 2672. If these are not good enough for the market to pull back to 2600 or lower, nothing will. Invalidation is above 2670. short term : Neutral. Expecting a pullback and then another big rally to at least 2750. medium-long term - Update from 2024-11-17: Tough call for the rest of the year. If I had to guess I’d say that we rally to 2800 again before year end, just so we can sell off beginning of 2024 but it’s pure guesswork as of now. current swing trade: None trade of the day: Buying 2625, which market tried for 3 hours to close a 15m bar below and could not. Buying it was good for 350 ticks.
COMEX_MINI:MGC1!
by priceactiontds
2024-11-19 - priceactiontds - daily update - daxGood Evening and I hope you are well. tl;dr dax futures - Neutral. Lower lows and lower highs but a nasty reversal from 18869. The buying was strong but still not good enough for the bulls to take control again. Bears are showing decent selling pressure but getting nowhere. I do think market wants to test higher tomorrow. 19250 is the first target, followed by 19300 and 19350. If 19200 turned resistance and bulls show weakness again, bears might do a real one and get to 18500. There is absolutely no more support until 18500 for the bulls. comment: tl;dr covered most of it. We closed in the middle of the current range, which is as neutral as it gets. I still favor the bulls but I was also wrong about the two previous sell offs and new lows, so maybe take my bias lightly. Market is in balance around 19150 and we have clear support and resistance for a week, despite the marginally lower lows. 18900 - 19330 is the range, play it until we have a 1h close above or below. current market cycle: trading range key levels: 18800 - 19700 bull case: Bulls need some follow through badly. 19250 and then 19300. If they break above 19360 tomorrow, we print 300 points higher. Invalidation is below 19100. bear case: Below 19100 bears take control again and I think the market can only do one thing so many times until one side gives up big time. If bears manage to print another low below 18869, we go down hard to 18500 or lower. Bears want to keep this below 19200. Invalidation is above 19350. short term: Neutral. Max bullish above 19360 and max bearish below 18860. 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. current swing trade: None trade of the day: Shorting the open due to news was amazing. Also buying 18900. Both trades were mostly momentum based but we also had a quadruple top to sell and a double bottom to buy. Hope you took at least one of them.
EUREX:FDXSZ2024
by priceactiontds
2024-11-19 - priceactiontds - daily update - sp500Good Evening and I hope you are well. tl;dr sp500 e-mini futures - Bullish bias still. The reversal was nasty and we had a very strong close. We are in a nested expanding triangle and if bears are strong, market won’t get above 5950. If bulls do, we go 5980 and the bear trend line next. I lean bullish. Measured move up from today gets us close to the ath and it’s the third try bears tried to close below the 50% retracement and failed. Good chance today was bears giving up and we melt again to a new ath. If we drop below 5900 again, I am probably wrong and bears taking over again. comment : Nasty reversal and a good close by the bulls. Can expect follow through tomorrow above 5950 up tom 5980 and test the bear trend line. Above that we print a new ath. Best for bears would be to keep this below 5950 and then they have a chance of testing down to 5900 again. I have a heavy bullish bias going into tomorrow as long as market does not drop below 5900 much again current market cycle: bull trend key levels: 5900 - 6100 bull case: Bulls want to test the bear trend line around 5980 and go above 6000 again. They do need to break above 5950 first, which could be resistance due to the expanding triangle pattern but I doubt it. They kept the market 3 days in a row above the 50% retracement and I don’t think bears are strong enough to try a fourth time tomorrow. Measured move up from today’s reversal leads to around 6036. Invalidation is below 5900. bear case: Bears had an amazing sell off but bulls bought it big time. Technically this could be seen as a bear flag, but bears would have to keep the market below 5950 for that. That’s their first target and then getting below 5900 again. Since we are seeing big time buying below 5900 and the selling was mainly due to news, I don’t think bears are favored. Invalidation is above 5950. short term: Bullish. Probably more squeezing late bears tomorrow and I still do have unreasonable insane targets above 6100 that could be hit over the next days-weeks. medium-long term - Update from 2024-11-16: So the top definitely qualifies as a blow-off top but the question if we continue further up, is still valid. It is possible that we are already inside the correction and if we continue below 5860, I highly doubt bulls can get above 6000 again. Given the current market structure, I won’t turn bear because the risk of another retest of the highs or even higher ones are just too big. current swing trade: Nope trade of the day: Buying 5855. Market printed a perfect inverted head & shoulders on the 1m tf, huge bull bars on a big volume increase. 3 almost too good to by true reasons to take the trade.
CME_MINI:MES1!Long
by priceactiontds
#NFP. Win big or feel the pain! Analysis from 11/19/24Currently, the coin is in a sideways trend, where asset distribution is taking place. A breakout above the resistance level will indicate buyer strength and the potential for further growth. Exiting such accumulation zones, especially in this market, will most likely result in an upward impulse, so it makes sense to try and catch this movement. However, if the $0.2350 level is lost, we will most likely head straight for a support test, after which we will have a clearer understanding of where the price is likely to move next (probably working from sales rather than purchases, as we are doing now). DYOR.
Long
by trendbooster
1
BITCOIN IS GROWING STEP BY STEP TECHNICAL ANALYSIS + TRADE PLANTechnical Analysis Ascending Triangle Formation The chart displays an ascending triangle pattern, indicating a bullish trend continuation. The price has been forming higher lows while maintaining a relatively flat upper resistance level, suggesting that buyers are gradually gaining strength. Key levels to watch: Resistance: The price is approaching the resistance at $93,143 and $100,000. Support: The ascending trendline acting as support is near $86,721. Indicators: VMC Cipher B Divergences: The indicator shows a continuation of bullish momentum with green dots suggesting buying signals. Bullish Divergence: This is a confirmation of positive momentum and suggests the current trend could continue, especially if it breaks resistance. Relative Strength Index (RSI): RSI is at 56.62, indicating that Bitcoin is neither overbought nor oversold. It suggests that there is still room for upward movement before entering overbought territory (RSI > 70). Money Flow Index (MFI): The MFI is in the green, at 56.02, showing a steady inflow of capital, which supports the bullish outlook. It is not in the overbought range, further indicating the potential for continued upside. Stochastic Oscillator: The stochastic indicator shows values of 77.28 (fast line) and 76.05 (slow line), both suggesting that the price is in the upper range. Though it's near the overbought zone, it isn't extreme enough to signal an imminent reversal. Volume The volume is increasing with each bullish move, indicating strong buying pressure and confirming that the trend is supported by market activity. Key Price Levels: Resistance Zone: $93,143 - $100,000 Support Zone: $86,721 Next Target: A breakout above the $93,143 resistance could target new highs around $100,000 or higher if the market sentiment remains bullish. Trading Plan Entry Strategy: Buy Signal: A break above the resistance level at $93,143 would be a strong buy signal, with the expectation of a continuation to the next target near $100,000. Alternatively, a retracement to the support level at $86,721 could provide a good entry for a long position if the price rebounds from this level, confirming the ascending triangle pattern. Stop Loss Strategy: Stop Loss: Place a stop-loss order below the most recent swing low, around $86,000, to protect the position in case of a breakout failure. This provides a good risk-to-reward ratio if the price does not hold above the support trendline. Profit-Taking Strategy: First Target: The first target for profit-taking should be near $93,143 (initial resistance). Second Target: A breakout beyond this resistance can target $100,000 and possibly new all-time highs (ATH). Trailing Stop: Consider implementing a trailing stop once the price moves in your favor, allowing the position to stay open while locking in profits if the market reverses. Risk Management: Position Sizing: Based on the risk tolerance, adjust the size of your trades to ensure proper risk management. For example, risking 1-2% of your total capital on a single trade is advisable. Review Market Sentiment: Always monitor broader market conditions and Bitcoin-related news for any sudden changes that may affect the trend. Conclusion The current chart signals a bullish continuation for Bitcoin, supported by the ascending triangle pattern, bullish indicators, and increasing volume. A break above $93,143 would confirm the next move towards $100,000. As always, it's important to monitor the market for any shifts and adjust your trading plan accordingly.
BINANCE:BTCUSDLong
by elfabiiani
GOLD continues to be supported by BidenOANDA:XAUUSD rallied sharply towards a second day of gains after six consecutive days of decline as the dollar's price momentum slowed and growing uncertainty over conflicts in Russia and Ukraine sparked safe-haven demand. As of the time of writing, spot gold has increased continuously the previous trading day to 2,622 USD/ounce, escaping the lowest level in 2 months last Thursday. OANDA:XAUUSD considered a safe investment in times of economic and geopolitical uncertainty, suffered its biggest weekly decline in more than three years last week because of Trump's tariff-leaning policy. Trump's nomination is seen as a potential cause of inflation, which could cause the Federal Reserve to slow down on interest rate cuts. Recent US support for Ukraine has increased tensions and affected safe-haven assets Part of the reason is that US President Biden announced that he will provide long-range missiles to Ukraine so that the country can attack deeper into Russian territory. This will make the war much more complicated, it should be seen as a step closer to direct confrontation between Russia and the US. Previously, Reuters reported that US President Joe Biden's administration on Sunday allowed Ukraine to use US-made weapons to attack deep into Russian territory, a major reversal of Washington's policy. about the conflict between Ukraine and Russia. Sources said Ukraine plans to launch its first long-range strike in the coming days but declined to reveal details due to security concerns about the operation. The Federal Reserve is widely expected to cut interest rates for a third time in December, although recent data suggests inflation's recovery toward its 2% target has stalled. About seven Fed officials will speak this week. Rising interest rates could put further pressure on gold by making non-yielding assets like gold less attractive. Analysis of technical prospects for OANDA:XAUUSD Although gold has recovered to break the falling price channel in the short term, in the medium term it still tends to lean towards the downside with the price channel as the trend and the main pressure from the EMA21 level. On the other hand, the uptrend RSI is also close to reaching the 50 level. The 50 level is considered a resistance or support point depending on the condition of the RSI above or below this level. However, gold may still increase a bit more with the 2,640USD position sent to readers in yesterday's publication, this is the position of the 0.618% Fibonacci retracement level. As long as gold remains within the price channel and below the EMA21 level, the technical outlook is tilted to the downside, and the day's highlights are listed below. Support: 2,600 – 2,588USD Resistance: 2,640USD SELL XAUUSD PRICE 2647 - 2645⚡️ ↠↠ Stoploss 2651 →Take Profit 1 2640 ↨ →Take Profit 2 2635 BUY XAUUSD PRICE 2589 - 2591⚡️ ↠↠ Stoploss 2585 →Take Profit 1 2596 ↨ →Take Profit 2 2601
OANDA:XAUUSD
by Xayah_trading