Nasdaq Weekly Outlook Dec 2 (NFP week)The price is consolidating in a higher timeframe inefficiency following the election expansion, which makes market conditions more difficult than usual.
Last week, the price consolidated (time distortion), so this week I would expect an upward expansion towards the weekly target.
Just above the short-term target, there is a bearish propulsion block on the higher time frame. Depending on the reaction in this area, we will see if the weekly target is reached.
This week we have NFP, Powell, and unemployment claims, so I expect volatility.
Marketstructure
BTC Consolidating on support Bitcoin is currently consolidating around a critical support zone, with traders closely watching for the next decisive move. A breakout above resistance could ignite bullish momentum and push prices higher, while a breakdown might signal further downside. The market is at a pivotal point, and all eyes are on BTC's next steps...
Microsoft - Short Term Top Formation!Microsoft ( NASDAQ:MSFT ) could create a short term correction:
Click chart above to see the detailed analysis👆🏻
Almost for the entire year of 2024, Microsoft has been moving sideways and respecting the upper channel resistance trendline. It is quite likely that we will see a correction, considering that buyers are still weak, before we then see the overall trend continuation.
Levels to watch: $350
Keep your long term vision,
Philip (BasicTrading)
Cardano - Repeating the +3.000% bullish cycle!CRYPTO:ADAUSD is creating price action like back in 2020 and we might see a rally soon.
Looking at the higher timeframes allows you to massively capitalize on overall market swings and cycles. Especially when it comes to Cardano, these cycles are pretty rewarding but also pretty predictable. At the moment, Cardano is repeating price action; we saw the same pattern playing out in 2020 and this break and retest was followed by a rally of +3.000%
Levels to watch: $0.42, $0.25
Keep your long term vision,
Philip - BasicTrading
THE KOG REPORT - ELECTION SPECIAL - UpdateQuick update on our Election special chart which we posted prior to the election giving our view of what to expect in terms of movement in Gold.
The Red arrow was the projected path, the green arrow is real time movement.
Can quite honestly say it's worked well for us, not exact, but close enough when fine tuned with the red boxes, Knights inid, and of course Excalibur.
We'll keep tracking this.
Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated.
As always, trade safe.
KOG
Xau/usd Massive sell as DXY continue to rise!!I believe the strength of the US dollar will continue to rise until next year, as it has been consolidating during the election period. We also discussed a similar market pattern that occurred over the last four years, which is happening again now. Therefore, there is a higher probability that we could see a significant selloff back to its monthly lows.
Follow for more breakdown
S&P potential long when new york market opensas the bullish daily bias show us, we can see some liq to the downside that could be taken . after that we could react at the 70-80 % fib level , which is as well at the 1h Order Block . that would give us nice confirmation and we could take a trade if we get a good setup to that, the main thing is that we are bullish and that we want to get higher. but unfortunately everything can happen and we are not forcing trades. Risk 1-3 %
Bullish channel in to Imbalance (GOLD)price doesn't look great today, but I see a potential setup to go long. I need to see the price break above the 1-minute lower-high (LH) swing level. Once that happens, I can look for a Fair Value Gap (FVG), imbalance, or other indicators. I will only take a trade after the price retraces to a FVG, imbalance, or order block, and I will look for a bullish momentum candle in those areas of interest.
Previous Continuation of BEARS ( GBP news push Market )Bearish Market price action market was in consolidation and continues into bearish trend based on news, still have yet to see a true pullback to 38.2% or Higher. Alot of News on USD and GBP , but also weaking towards inflation and a lot of dollar strength coming from the dollar. IF market continue to print lower highs and lower lows are a sign of bears any exhaustion to the low represent bullish pressure.
How I Rode the Gold Trend Using Multi-Timeframe AnalysisHey Traders! 📈
I want to share an analysis of a recent opportunity on Gold that came up, focusing on using multi-timeframe analysis to spot a reaccumulation pattern.
Market Context:
On the daily timeframe, Gold was showing a retracement. By zooming into the 1H timeframe, I identified what seemed like a reaccumulation (REACC) model—giving a potential entry point to go long in this trending market.
The Entry Setup:
On the 1H TF, after a retrace, the price continued the uptrend with strong structure, confirming a breakout.
I entered long, aligning with the market trend and using a trailing stop to manage the position and capture potential further upside.
Floating PnL:
Right now, the trade is floating around 12RR and still trailing! This is a great example of how multi-timeframe analysis can help uncover high-probability setups.
This educational breakdown is meant to help others see the power of combining market structure and risk management to stay in profitable trades. Hope this helps you spot similar setups in the future! 🚀
Leave a comment if you surfed with this trend too!
XAUUSD: Watch for Buyer at major support.The Large range of 11 Day trading has forming up. Just pay attention at "11 Day VAL" zone. Price may move up and down between "11 Day HVN" and "11 Day VAL". Which is a battle zone between Buyer and Seller.
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Green direction: If the price couldn't break "11 Day VAL". We might expect that buyer will step in and push the price higher back to "Last week POC" and "YPOC" level.
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Red Direction: If the price break down deeper to major support. We will expect that Buyer won't have enough power to push the price over "11 Day HVN".
Grab Your XAUUSD Scalping Chance!Market Analysis Summary:
Buy Opportunity: Targeting the 2750 zone from the 2730-27 level.
Market Structure: Overall bullish trend, indicating potential upward movement.
Short-Term Caution: Formation of lower lows may lead to a sell-off down to 2690.
Upcoming Events: NFP report is on the horizon, which could introduce market volatility.
Key Points to Consider:
Monitor the 2730-27 zone for entry signals.
Watch for price action around 2690 for potential reversals.
Be prepared for fluctuations around the NFP release.
Stay informed and adjust your strategies accordingly!
XAUUSD: Watch for a Sharp Decline Soon!XAUUSD MARKET ANALYSIS
Today, we are focusing on key intraday levels that could influence trading decisions:
Support Level: 2734-30
Resistance Level: 2748-50
Upcoming Market Events:
This Friday, we have the highly anticipated Non-Farm Payroll (NFP) report, which historically tends to create significant volatility in the market. The data released can lead to quick price movements, offering potential trading opportunities.
Monitor Price Action:
If the price approaches the support level (2734-30) and holds, it may provide a buying opportunity, signaling potential upward momentum.
Conversely, if the price breaks through the resistance level (2748-50), it could indicate a bullish trend, suggesting traders might consider entering long positions.
Consider Market Sentiment:
Pay attention to pre-NFP sentiment in the market. A strong jobs report could lead to a rally, while a weaker report might trigger a sell-off. Adjust your strategies accordingly.
If you find this analysis valuable, please like the idea. Your support motivates us to continue providing high-quality content!
Gold Rebound Strategy: Capitalizing on RBS and Bullish EngulfingTrade Idea Based on Technical Analysis:
Chart Analysis:
1. Horizontal Line of Resistance Become Support (RBS):
• The horizontal red line at 2,741.90 indicates a significant level where previous resistance has now become support. This RBS zone suggests a potential area where buyers might re-enter the market, providing a solid opportunity to go long if the price pulls back to this level.
2. Horizontal Line of Resistance/Support:
• The price faces resistance around 2,748.94. This level has acted as a ceiling for price movements, where sellers are likely to enter. If price breaks this level, it may indicate further bullish movement, but it currently holds as a short-term resistance level.
3. Bullish Engulfing Zone (Yellow Box):
• The yellow box marks a crucial bullish engulfing pattern zone between 2,737.64 and 2,740.53. This pattern indicates a strong buying momentum as the price reversed from a previous sell-off. This zone serves as a high-probability entry point for buyers.
Trade Setup:
• Entry Point: Look for a buy entry around the RBS level (2,741.90) or within the yellow bullish engulfing zone (2,737.64 - 2,740.53). If the price retraces into this area and shows bullish confirmation (such as a bounce or candlestick pattern), it’s a good opportunity to go long.
• Target Price: The first profit target should be around the resistance level at 2,748.94. For a more aggressive approach, you can target 2,750.00, as round numbers tend to act as psychological resistance.
• Stop Loss: Set your stop loss just below the engulfing zone, around 2,730.46. If the price breaks below this level, the bullish setup would be invalidated.
Why I think this trade idea give chances:
• The RBS level offers a strong area for a bounce, and the bullish engulfing zone indicates a reversal where buyers have taken control. These combined factors suggest the market has bullish potential, especially if price retraces to these levels.
• The resistance level at 2,748.94 provides a clear exit point for taking profit, and the stop loss below the engulfing zone minimizes risk if the price goes against the trade.
By waiting for price action confirmation around these key levels, this trade idea presents a well-structured and risk-managed opportunity for going long in the current market setup.
Microsoft MSFT: Volume + Momentum today & a retest of High soon
Microsoft came up in stock scans today on increased momentum so I took a look and I took a Long position.
MSFT you may remember back in July of this year sold off quite deeply from a bearish head n shoulders pattern. But since then it's price has reformed with good market structure & following its steamy movement today, I think a reclaim of the high price will occur before end of the year.
BOME Long Position (Retest of 21-day EMA)Market Context: BOME is approaching the 21-day EMA after a Market Structure Shift (MSS). We're looking for a retest of the trend to form a higher low, while sweeping liquidity at the $0.075 level. This provides a potential opportunity for entry.
Trade Setup:
Entry: $0.007 - $0.008
Take Profit:
First target: $0.012
Second target: $0.016
Third target: $0.020
Stop Loss: Daily close below $0.006
This setup seeks to capture the bounce from the higher low, capitalizing on the anticipated continuation of the uptrend. #BOME #Crypto #MarketStructure #21EMA #Trading