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Priceactionanalysis

Many important economic data are waitingGold prices rose at the beginning of the week when the latest report showed that US manufacturing activity slowed for the second consecutive month. Specifically, the purchasing management index in the manufacturing sector decreased to 48.7% in May, compared to 49.2% recorded in April. This figure is weaker than the forecast of the world. expert. Disappointing economic data raises the possibility that the US Federal Reserve will cut interest rates this year, pushing the dollar to a three-week low and benchmark US Treasury yields falling. dropped to its lowest level in 2 weeks. Today's world gold price is listed on Kitco at about 2,350 USD/ounce, up 23 USD/ounce compared to early yesterday morning. Gold futures last traded at $2.3716 per ounce, up $25.60. Gold price forecast The Fed's interest rate direction will be the main factor affecting the direction of gold in the short term. Therefore, the market will continue to listen for information that is expected to have an impact on the Fed's decision. This week, besides employment data, the gold market will wait for the interest rate decision of the European Central Bank (ECB). The bank is almost certain to cut interest rates by 25 basis points and this could become the first major central bank to cut interest rates this cycle. The ECB's decision may cause investors to recalculate the time and scale of the Fed's interest rate easing. Many analysts predict that, ahead of the Fed's monetary policy meeting on June 11-12, many investors will increase buying, causing gold prices to increase sharply before the meeting. Technically The important price range today is that gold is trading at 2363 and 2335. If gold wants to regain its strong bullish position, gold needs to surpass the important area at 2363 and 2365 in the opposite direction. The sideways trend will continue when gold Moving towards the 2335 support zone. In the h4 time frame, the two EMA lines show that the main trend is still moving sideways within a wide range. Gold is waiting for a breakthrough from US data this week to escape the border. Support: 2335 - 2328 - 2315 - 2305 Resistance: 2355 - 2363 - 2374 - 2389 BUY price range 2327 - 2325 stoploss 2321 SELL price range 2374 - 2376 stoploss 2380
OANDA:XAUUSD
by TVS-Trader
Maintain wide trading margins for a long timeGold continued to fall and traded below $2,330 on Tuesday, erasing most of Monday's gains in the process. Renewed US dollar strength drags XAU/USD lower as markets take a cautious stance ahead of US data. The $2,360 area (Friday's high) acted as a barrier for gold and caused gold to fall sharply as the strength of the PMI news was not enough to break this resistance. Gold has difficulty escaping the trendline that has lasted for nearly two weeks. Gold will soon be pushed up by the 2315 -2310 or 2305 support zones and continue to wait for ADP data or even wait until Friday when nonfarm is announced by breaking out of this wide accumulation zone. Price zones need attention to have an effective trading strategy Support: 2320 -2305 Resistance 2360-2348
OANDA:XAUUSD
by TVS-Trader
Anupam Rasayan Simple Price Action Analysis BullishNSE:ANURAS The Price is in an Uptrend making HHs and HLs on a Candlestick Chart. The expectation is that it will continue the existing Uptrend and hence will create a new HL and HH in the candlestick chart, this should take the price up to 1254.45 for now. therefore, a Cup like shape might form in this chart. We also do have a Trap Zone which might stop the current correction and help to create the HL in this chart. In this kind of chart, one must buy in tranches at every dip and hold for an approx. 28% to 31% Return on Investment. That is 279 to 297 points.
NSE:ANURASLong
by priceissupreme
SWING IDEA - PBCLA potential swing trade opportunity in PCBL (Phillips Carbon Black Limited), the largest carbon black manufacturer in India. Reasons are listed below: Strong Support at 230-240 Zone : PCBL is rebounding from a robust support level, reflecting market confidence in the company's leading position and expertise in the carbon black industry. 'W' Pattern : A 'W' pattern observed in the daily timeframe indicates a potential reversal and bullish continuation pattern, showcasing PCBL's ability to navigate market fluctuations effectively. Bullish Marubozu Candle : The appearance of a bullish Marubozu candle on the daily timeframe signals strong buying pressure and potential upward momentum, underscoring positive market sentiment towards PCBL's prospects. 200 EMA Support : The 200-period Exponential Moving Average (EMA) on the daily chart acts as reliable support, highlighting PCBL's consistent performance and stability in the industry. 0.5 Fibonacci Support : Finding support at the 0.5 Fibonacci level reinforces PCBL's solid fundamentals and growth potential, providing a strong foundation for potential upward movement. Target - 300 // 333 Stoploss - Daily close below 229 DISCLAIMER - Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services. @visionary.growth.insights
NSE:PCBLLong
by Visionary_Growth_Insights
SWING IDEA - HINDUSTAN PETROLThis presents an attractive opportunity for swing traders to capitalize on the potential uptrend in Hindustan Petroleum Corporation Limited ,a leading energy company in India engaged in the refining and marketing of petroleum products. Reasons are listed below : Strong Support at 450 Level : HPCL has established a robust support level at 450, indicating strong buying interest and potential reversal points. Double Bottom Pattern : The formation of a double bottom pattern suggests a potential trend reversal and bullish continuation, indicating a shift in market sentiment. Bullish Marubozu Candle : A bullish Marubozu candlestick pattern indicates strong buying momentum and potential upward movement in HPCL's stock price. 0.382 Fibonacci Support : Finding support at the 0.382 Fibonacci level strengthens the bullish case, providing a solid foundation for potential upward movement. Engulfed 11 Daily Candles : The bullish engulfing pattern, engulfing 11 previous daily candles, reinforces the bullish sentiment and indicates potential for a significant uptrend. Higher Highs : Consistent formation of higher highs reflects increasing bullish momentum and reinforces the potential for further gains in HPCL. Target - 530 // 595 Stoploss - weekly close below 449 DISCLAIMER - Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services. @visionary.growth.insights
NSE:HINDPETROLong
by Visionary_Growth_Insights
The short-term downtrend continues todayAfter reaching the lowest level in 3 weeks around 2315, gold reacted strongly and increased to 10 levels. The latest break out level at 2337 is still doing well as resistance today, my expectation is that gold will fall to the 2305-2300 range. today. Although in the h4 time frame gold is in a short-term downtrend, back in the daily frame gold is still ready to increase strongly at any time. Support: 2,305 – 2,300USD Resistance: 2,340 – 2,353USD BUY price range 2306 - 2304 stoploss 2300 SELL price range 2340 - 2342 stoploss 2346
OANDA:XAUUSD
by TVS-Trader
Using Multi-Timeframe analysis for a major WinnerMulti-timeframe analysis is a key techniques for prepping a market prior to a trading session. The first thing to do before trading is to understand the major moves and longer term price action. This enables us to get on the right side of a sessions move and avoid a lot of the chop. We take a look at the DOW from the previous trading session and talk through the 30 min timeframe and why it was so important for the 500 pt rally into the close. I talk through the key price action, the trap of shorts before the big move up and why we needed to be on the long side of the action. ANY QUESTIONS, JUST LEAVE IN THE COMMENTS !! ** If you like the content then take a look at the profile to get more ideas and learning material ** ** Any Comments and likes are greatly appreciated **
CBOT_MINI:YM1!Education
by TradeTheStructure
Ethereum Let's go for Ethereum $4000 or Ethereum $3500!!? what do you think? We have HH and HL on the chart so far; In other words, we do not have confirmation for a downward trend (((currently))). The resistance range that we had on the price area of ​​$3943 has also been completely consumed. As the resistance areas are consumed, the way to continue the upward trend is opened. Now, on the price chart, a compression movement has been formed in the 30-minute time frame; Provided that the price range of $3,628 is maintained, there is a high possibility that we will get out of this compression from above. But we have to be careful, the possibility of getting out of this compression from the bottom is not small. Especially since currently 68% of Ethereum holders are in profit.
Long
by BiTBingo
The ONLY Strategy You Need to Identify The Market Trend In this article, we will discuss a proven price action based way to identify the market trend . ❗️And let me note, before we start, that no matter what strategy do you use in your trading, you should always know where the market is going and what is the current trend . Your judgement should be based on strict and objective rules that proved its accuracy. There are a lot of ways to identify the market trend. One of the simplest and efficient ones is price action based method . This method relies on impulse legs . The market never goes just straight up or down, the price action always has a zigzag shape with a set of impulses and retracements. The impulse leg is a strong directional movement , while the retracement is the correctional movement within the boundaries of the impulse. UPTREND 📈The market is trading in a bullish trend if 3 conditions are met: 1️⃣the price forms an initial bullish impulse , 2️⃣ retraces , setting a higher low , 3️⃣then starts growing again and sets a new high with the second bullish impulse . Once these 3 conditions are met, we consider the market to be bullish, and we expect a bullish continuation in such a manner. Take a look at a price action on USDCAD. According to the trend-analysis rules, the pair is trading in a bullish trend. DOWNTREND 📉The market is trading in a bearish trend if 3 following conditions are met: 1️⃣the price forms an initial bearish impulse , 2️⃣ retraces , setting a lower high , 3️⃣then drops lower and sets a new low with the second bearish impulse . Once these 3 conditions are met, we consider the market to be bearish, and we expect a bearish trend continuation. According to the rules, NZDUSD is trading in a bearish trend on the chart above. CONSOLIDATION ➖The third state of the market is called consolidation . The market is trading in a consolidation if the conditions for bullish or bearish trend are not met . The price chaotically forms bullish and bearish impulses, usually trading within the range . Above is the example of a sideways, consolidating market, where the price sets equal or almost equal highs and lows and conditions for bullish/bearish trend are not met. Knowing the current trend, one always knows whether a current trading position is trend-following or counter trend, or it is a sideways consolidation trade. Learn these simple rules and try to identify the market trend with them.
OANDA:XAUUSDEducation
by VasilyTrader
1
Bitcoin(BTC/USD) Daily Chart Analysis For Week of May 31, 2024Technical Analysis and Outlook: Bitcoin gyrated in this week's trading between our major Mean Sup 67100 and the newly created Mean Res 69400. The upward movement target shows a continuous target of Bull Stage Squzee Rebound 73200, marked as Key Res 73200. The main obstacles are Mean Res 69400 and 71500, respectively. On the downside, we look at the established Mean Support at 65000 as a concrete target before a renewed upswing occurs.
BITSTAMP:BTCUSD
by TradeSelecter
SWING IDEA - MAHARASHTRA SEAMLESSMaharashtra Seamless , a leading manufacturer of seamless pipes in India, is showing technical patterns that suggest a potential swing trading opportunity. Reasons are listed below : Support at 800 Level : The 800 level has proven to be a strong support zone, indicating significant buying interest at this price point. 0.382 Fibonacci Level Support : The price has found support at the 0.382 Fibonacci retracement level, suggesting a potential reversal or continuation of the uptrend from this key level. 50 EMA on Weekly Timeframe : The stock is trading around the 50-week exponential moving average, which acts as a support level and indicates a long-term uptrend. Bullish Marubozu Candle on Daily Timeframe : The recent daily candle is a bullish marubozu, characterized by a lack of shadows, indicating strong buying pressure and potential for further upward movement. 200 EMA Support on Daily Timeframe : The stock is also finding support at the 200-day exponential moving average, which reinforces the overall bullish sentiment and provides additional support for the uptrend. Target - 965 // 1095 Stoploss - weekly close below 735 DISCLAIMER - Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services. @visionary.growth.insights
NSE:MAHSEAMLESLong
by Visionary_Growth_Insights
Wait for the long-term BUY point after the recovery wave endsGold prices temporarily halted their recovery streak as the USD increased slightly, in addition to the FED's hawkish comments, and stronger-than-expected US economic data reduced expectations of a FED interest rate cut in September. This creates momentum for the USD to put pressure on gold. On the other hand, geopolitical tensions and instability may promote gold buying as a safe haven, and banks' demand will continue to boost gold prices. Gold is continuing to maintain the recovery of wave 4 in the elliot wave model, investors are waiting for a trendline break around 2350 to catch the SELL retest with the expectation that gold will fall to the support area of ​​2325 and 2305. Our long-term BUY point is around 2305 when the recovery wave of the buying trend ends. SELL price range 2370 - 2472 stoploss 2376 SELL price range 2386 - 2488 stoploss 2392 BUY price range 2324 - 2322 stoploss 2318 BUY price range 2305 - 2307 stoploss 2301
OANDA:XAUUSD
by TVS-Trader
1
Wait for the SELL point to retest the EURUSD trendlineEUR/USD fell sharply on Wednesday, returning to the 1.0800 degree after broad-primarily based totally danger urge for food disappeared. The pair is buying and selling firmly inside technical resistance as buyers put together for a sequence of mid-variety European financial signs on Thursday, observed with the aid of using an replace on Gross Domestic Product increase (GDP) quarterly for the United States. Pan-European purchaser self belief in May is predicted to preserve constant at -14.3, at the same time as the Overall Economic Sentiment Index is predicted to get better barely to 96.2 from 95.6. Then, US quarterly GDP is predicted later withinside the day, with annual Q1 GDP forecast to say no barely to 1.3% from 1.6%. Markets hungry for hobby charge cuts from the Federal Reserve may be seeking out symptoms and symptoms of weak point withinside the US financial system as increase solidifies, the hard work marketplace tightens and inflation figures display up. Inflation stays high, hindering the Fed`s capacity to reduce hobby fees at a fast pace. Investors hold to search. The buying and selling week will cease with German Retail Sales on Friday, predicted to fall -0.1% MoM in May. Pan-European Core Consumer Price Index (HICP) for the 12 months resulted in May is forecast to growth to 2.8% from 2.7%. US inflation records will cease the buying and selling week, with the United States Core Personal Consumption Expenditures (PCE) Price Index predicted to stay unchanged at 0.3% MoM in April.
by TVS-Trader
1
SWING IDEA - BSE LTDBSE, one of the leading stock exchanges in India, is showing technical indicators that suggest a potential swing trading opportunity. Reasons are listed below : Strong Support Zone at 2600 : The 2600 level has proven to be a robust support zone, indicating significant buying interest and a strong base for a potential price rebound. Bullish Marubozu Candle : The recent formation of a bullish marubozu candle, characterized by little to no shadows, indicates strong buying pressure and a potential for continued upward movement. 50 EMA Support : The stock is finding support at the 50-day exponential moving average, which reinforces the overall bullish sentiment and provides a reliable support level. 0.5 Fibonacci Support : The price has found support at the 0.5 Fibonacci retracement level, indicating that this key level is acting as a strong base for a potential bounce back. Target - 3070 // 3250 Stoploss - Daily close below 2570 DISCLAIMER - Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services. @visionary.growth.insights
NSE:BSELong
by Visionary_Growth_Insights
Gold Price ActionHello, Comes after a long time. I hope you're doing well. This is what I see: as the market moves downward, liquidity is created, and today's liquidity has already been swept, but there is still liquidity that has to be swept. However, as you can see, I've marked two Order Blocks and am targeting Bullish to Bearish OB with a tight stop loss. And there is a good likelihood that if it reaches that Bearish OB, it will move downward. So you guys do scalping within this range. Use a lower period for entry. Good luck and good trading. Thank you.
PEPPERSTONE:XAUUSDLong
by SuvashishFx
GBPUSD price analysis week 22📌GBP/USD steadies above 1.2700 following a decline in UK retail sales. GBP/USD recovered and steadied above 1.2700 after falling to weekly lows below 1.2680 early in the European session on disappointing UK Retail Sales data. USD struggles to find demand on the upbeat risk mood and allows the pair to hold its ground. 📌The Relative Strength Index (RSI) indicator on the 4-hour chart remains near 50, indicating a lack of directional momentum. If GBP/USD fails to stabilize above 1.2700, then 1.2640 at the 89 EMA could be seen as the next support level ahead of the key 1.2570 level. 📌In case the trend line and support area of 1,264 still holds and pushes GBPUSD price into the bullish range, the current resistance at 1,275 is still weakening before the pair finds a more quality resistance area at 1,280. 🕯Trading signals SELL GBPUSD zone 1.28000-1.28200 SL 1.25800 BUY GBPUSD zone 1.25700-1.25500 SL 1.25200
by TVS-Trader
1