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XAUUSD TRADE IDEAhi all Gold is currently trading within a 4-hour range. The price has already broken the initial trendline. Now, we are waiting for the second trendline, which is between the high of $2,672.96 and the low of $2,631.92, to break. A pullback to the 0.236% Fibonacci extension area might provide an opportunity to buy the dip and cut the position if the candle closes below $2,634.37. **My trading strategy is not intended to be a signal. It’s a process of learning about market structure and sharpening my trading skills, as well as for my trade journal.**
FX:XAUUSDLong
by mytw0cents
Ethereum Closes with 10% Loss, Testing Key Support at $2,400Market Update: Ethereum had a challenging week, closing with a 10% loss, briefly dipping below $2,400. ETH is now attempting to reconfirm $2,400 as support after wiping out all gains from September, turning market bias bearish. Technical Outlook: Ethereum is on the verge of making a lower low, and the coming days are crucial for the remainder of the month. If weakness persists, the price could drop to $2,200, but if buyers return, a recovery towards $2,500 is possible. #Ethereum #ETH #CryptoMarket #BearishBias #PriceAction #SupportLevels #ETHUpdate
COINBASE:ETHUSD
by Richtv_official
Gold Price Analysis October 4Fundamental Analysis Gold (XAU/USD) attracted some buyers on Friday and rose to $2,668, or the top of its weekly range heading into the European session. The US dollar (USD) eased slightly from a one-month high hit on Thursday and now appears to have stalled this week’s decent recovery from its lowest since July 2023. This, coupled with geopolitical risks stemming from ongoing conflicts in the Middle East, turned out to be the main factors driving some haven flows into the precious metal. That said, the diminishing likelihood of a more aggressive Federal Reserve (Fed) easing policy should help limit any meaningful decline in the USD and limit upside for non-yielding Gold. Traders may also prefer to wait for the closely watched US monthly employment data release before positioning for the next leg of a directional move. However, XAU/USD remains close to the all-time highs reached last week and the fundamental backdrop appears to be tilted heavily towards bullish traders. Technical Analysis Gold has responded to technical support on the trendline and is likely to trade within a narrow range pending NFP. 2671 and 2643 remain key areas to watch before price moves towards today’s SELL entry around 2678-2680 and BUY entry around 2635 and 2633. Now if price fails to break the key area like 2670 before mid-European session, we may sell ahead of the NF news and try to hold the position to the support areas.
OANDA:XAUUSD
by TVS-Trader
2
CRUDE OIL (WTI): Your Trading Plan For Today WTI Crude Oil is testing a significant falling trend line on a daily. To short that with a confirmation, pay attention to a descending triangle pattern on an hourly time frame. Your signal will be a breakout of its horizontal neckline - an hourly candle close below 73.46. Short the market aggressively or on a retest, then. Targets: 73.07 / 72.85 Alternatively, a bullish violation of a trend line will be a strong bullish signal. ❤️Please, support my work with like, thank you!❤️
TVC:USOILShort
by VasilyTrader
1
2024-10-03 - priceactiontds - daily update - daxGood Evening and I hope you are well. tl;dr dax - Look at the xetra 1h chart because it’s clearer there than on futures. 4 legs down and we have not touched the 1h 20ema on xetra since Tuesday. Strong follow through selling and there is an open gap down to 18928. Since we are seeing continues episodes of buying, I do expect this gap to get closed on a spike and we might go neutral or green into the weekend. We are right at the bull trend line from beginning of August and I highly doubt it will get broken on the second touch. comment : Clear picture on the xetra chart. Close enough to the bull trend line to expect a big bounce upwards to 19200 or higher. If bears win this, next good support is 18800ish. I favor the bulls if they break strongly above the 1h 20ema tomorrow. current market cycle: bull trend (big trend line is currently at 18950 on xetra) key levels: 19000 - 20000 bull case: Bulls are trying and buying in between the bear legs and one side will give up for a bigger move soon. Since this is the second touch of the bull trend line from early August, I have to favor the bulls. Their first target is a 1h bar close above 19100 and if the move is strong enough, we see more bears giving up and they will probably wait before shorting again higher. Second target is 19200 (50% pullback). Invalidation is below 18800. bear case: Bears continue to sell every rip near the 1h 20ema but the selling is getting weaker and they barely made new lows today. It’s either go big or go home for the bears. Strong break below the bull trend line 18900 is their only option or give up and try to short higher (19200 or wait for 19500). Invalidation is above 19150. short term: Neutral again at 19000. Big round number, should be huge support and my bias is bullish for tomorrow. medium-long term - Update from 2024-09-01: 4 Months left in 2024 and I do think the market is in a trading range where the upper area is around 19000 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. Next 2000 Points will be made to the downside but it’s too early to short this. current swing trade : None trade of the day: Short near the 1h 20ema, again. Or buying 19000. Obvious trades in hindsight…
XETR:DAX
by priceactiontds
2024-10-03 - priceactiontds - daily update - oilGood Evening and I hope you are well. tl;dr oil - Continues to be wild. Got stopped out too many times today and wanted to hurt myself. Huge tails on daily bars above and today a 350 (5%) tick ripper. Bulls just melted through the bear trend line. Can absolutely be a bull trap and we see another giant pullback but for now I would not short it. If anything, I am not touching this for couple of day I think. comment : Market was very two sided until the spike above 72.20 happened. Market also did not accomplish anything after that spike, which leaves us not that much smarter going into tomorrow. It could very well see a big pullback or even proving to be a bull trap near the bear trend line. current market cycle : trading range inside big broad bear channel from the daily chart. If bulls continue above 74, it’s likely a new bull trend and could get us to 78. key levels : 66 - 74 bull case: Bulls let it drop below 67 and still managed to rip 300 ticks higher. Wild times currently. If you are a bull and want to buy this, you need really wide stops or wait for insane pullbacks. Not easy to trade. Bulls want a breakout above the bear trend line and hit 75. Above 75 is most likely no resistance until 77. Since the pullbacks are so deep, I doubt there are many bulls who want to buy 74 in hopes of breaking the trend line but I am open for surprises. Invalidation is below 70.4. bear case: Bears have the do or die moment at 74. Defend the bear trend or give up until we hit the next big bear trend line around 78. Given the erratic moves, bears are alive and well, mostly anyway. Anything below 71 would be a huge win for the bears tomorrow. Daily 20 ema is also flat, decreases the chance for the bulls. Invalidation is above 74.2. short term: Neutral around 74. Bearish below 73 for 70 again. If bulls can continue above 74.2, we could see more giving up by the bears and another strong move to 76 or 78. Very low probability though. medium-long term - Update from 2024-09-08: Bears broke below multi month support and want a retest of 64.46 or lower. Right now the selling is a bit too steep to be sustainable. When we get a more complex pullback and form a decent channel, I will write a longer update here. Can this bear trend be the start of a bigger where we see Oil below 50$ again? I have absolutely no idea but the current daily chart can not not lead to that conclusion. current swing trade: None trade of the day: Not going there today. You can’t expect this spike. Don’t fool yourself.
NYMEX:MCL1!
by priceactiontds
A Simple and Effective Strategy to Outsmart Liquidity HuntingHave you ever encountered a scenario where the price hits your Stop Loss level first, only to then fully reverse and head in the direction of your target profit, ultimately reaching it? If the answer is yes, you’ve most likely fallen victim to what is commonly referred to as a 'liquidity grab'. In other terms, this phenomenon is known as 'stop-loss hunting', and it is an inescapable occurrence within the realm of trading. But why does it happen? The answer lies in the actions of big market players, such as banks and institutions, who need to fill their large positions. Simply put, for markets to function properly, there must be equilibrium - an equal number of buyers and sellers, a balance between supply and demand. For every buy-back and sell-off you conduct, there must be an opposing party willing to execute the trade with you. This is where brokers come into play, linking both sides of the transaction. When there is an imbalance between buyers and sellers, it leads to market inefficiency, which can result in excess supply or demand, distorting price movements. Market makers help prevent this by ensuring market stability and securing better pricing for executing large orders.
 For example, imagine you have analysed the sentiment and opened a SELL trade on USD/CHF at a key level, placing your Stop Loss just above the same zone. After some time, you notice the price impulsively moves towards your Stop Loss, triggering it and taking you out of the trade. Later, you watch the price flip and move in the direction you had originally predicted. Frustrated, you begin to blame the market, convinced it’s rigged against you. However, what really happened is that the price was pushed into an obvious pool of Stop Losses, allowing the positions you and many others sold to be bought back. This also enabled large institutional orders to be filled at better prices, while maintaining balance between buy and sell orders. How do you avoid this? The key is to better understand market dynamics and make more informed decisions. In this scenario, a smarter approach would have been to place your entry where the obvious pool of Stop Losses is located. By doing so, you could have captured a more favourable risk-to-reward ratio, perhaps achieving a 1:3 trade, as illustrated in the accompanying chart. So next time, before rushing into a trade, take a step back. Assess the situation with greater patience and clarity. Often, there’s an initial push, just as the price action indicates. This move entices traders into premature entries. Afterward, a sudden liquidity grab occurs, wiping out these traders before the market reverses in the anticipated direction. Be patient. Play it smart. Best wishes, Investroy
Education
by Investroy
PEPE forecast price🐸 1000PEPEUSDT.P Technical Analysis: We’re currently at a critical support level around 0.0088004 📉. If price stabilizes below this area, expect further drops to the 0.0076411 zone, marking a potential 13.04% decline 📉. However, there's a descending trendline ⤵️ pressing the price down. A break above this line would be a sign of reversal 🔄, targeting the first resistance at 0.0095467 💥. If the price holds above this point, it could trigger a bullish move towards higher resistances at 0.010237 (a 10.74% increase) and then to 0.0118714 (a 19.64% increase) 📈. Key strategy: Watch for volume spikes 📊 and wait for a clean breakout above the descending trendline for a potential buying opportunity 🚀. If support breaks, prepare for deeper pullbacks ⬇️. Stay sharp and manage your risks properly! 🛡️"
by ahmadarz