Get started

Priceactionanalysis

Gold price today (May 16): Strong increase againWorld gold prices increased sharply with spot gold increasing by 27.4 USD to 2,385 USD/ounce. Gold futures last traded at 2,391.8 USD/ounce, up 31.9 USD compared to yesterday morning. Gold prices rose to their highest level in more than 3 weeks on May 15 (US time) thanks to support from the weakness of the greenback and falling yields after the latest inflation report. Published data showed that the US consumer price index in April increased less than expected, increasing the possibility of interest rate cuts by the US Federal Reserve (Fed). The dollar fell 0.5% to its lowest level in more than a month, making gold more attractive to holders of other currencies. Benchmark 10-year Treasury yields also hit a more than 1-month low. The CPI rose 0.3% last month after rising 0.4% in March and February, suggesting inflation continued its downward trend at the beginning of the second quarter. This has pushed up financial market expectations of an interest rate cut in September. According to Reuters poll results, economists forecast CPI to increase 0.4% in the month and up 3.4% over the month. with the same period last year. Technically, Bullish gold futures have a solid overall near-term technical advantage. Bulls' next upside price objective is to produce a close for June futures above solid resistance at $2,400 an ounce. Analysis of technical prospects for gold prices After breaking the $2,366 level yesterday, gold has also confirmed the breakout of the falling price channel and now the target increase could be aimed at the raw price point of $2,400 in the short term and more to the $2,417 level. In addition, gold also forms an increasing price channel in the short term and this will technically be the trend price channel for gold prices in the near future. As long as gold remains above the EMA21 and within the price channel, the outlook is technically bullish. During the day, the uptrend in gold prices will be noticed by the following technical levels. Support: 2,377 – 2,366 - 2352 USD Resistance: 2,400 – 2417 - 2430 USD
OANDA:XAUUSD
by TVS-Trader
GOLD slight recovery for the long uptrendGold prices extended gains near $2,360 on Monday during the first hour of trading in Asia. Rising geopolitical tensions in the Middle East boost safe-haven flows and benefit precious metals. Gold prices traded positively during the day. The yellow metal kept the bullish trend intact as it held above the key 100-day Exponential Moving Average (EMA) on the daily timeframe. In the short term, XAU/USD climbed above the descending trend channel that formed in mid-April, with the 14-day Relative Strength Index (RSI) sitting in a bullish zone around 67.50, supporting buyers in current time. If gold bulls enter the psychological $2,400 mark, the yellow metal could see a rally to all-time highs near $2,432, en route to $2,500. Gold price is trying to break the 2375 level to reach the round port of 2,300 USD. Support: 2350 - 2340- 2332 - 2327 - 2316 Resistance: 2378 - 2391 -2400 - 2408- 2417 Breakout: Sell 2346 - Buy 2379 SELL zone 2391 - 2393 stop 2396 BUY zone 2330 - 2328 stop 2324
OANDA:XAUUSD
by TVS-Trader
Gold back to 2400?Gold prices continued their uptrend on Thursday and rose more than 1% as US Treasury yields fell, reducing the greenback's appeal. Labor market data from the United States was weaker, increasing the chances of an interest rate cut by the Federal Reserve despite facing inflationary pressures. XAU/USD's daily chart shows it has slowed its recovery around the slightly elevated 20 Simple Moving Average (SMA), at around $2,345. Longer moving averages maintain their upward slope well below current levels, while technical indicators remain below midlines with no clear directional strength. Overall, Gold extends its consolidation phase ahead of a suitable directional catalyst. Looking ahead and according to the 4-hour chart, XAU/USD is neutral. The pair met with intraday buyers around the bullish 200 SMA but failed to extend gains beyond the slightly bearish 100 SMA. Finally, technical indicators remained unchanged at positive levels, showing that bulls are more willing to jump in. The resistance zone at 2375 is currently expected by investors to be able to reduce the increase throughout today. The price range of 2375 and 2352 will be the trading range in today's US session. If the recovery level is nice enough, gold's destination will return to around 2400 soon. SELL zone 2375-2377 SL 2380 BUY zone 2353-2351 SL 2348
OANDA:XAUUSD
by TVS-Trader
Break Down a Trading Session and Price Action Taking NotesIn the short video I show the price action from a session on the DOW JONES and the key price action that I see important for my daytrading. This is a process I do each day to improve my trading and it helps to solidify in my mind what I want to see in the setups. You will have to pause the video to read the notes but please enjoy. 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!
by TradeTheStructure
SWING IDEA - RAMKRISHNA FORGINSConsider a compelling swing trade opportunity in Ramkrishna Forgings Limited , a leading manufacturer of automotive components in India, catering to both domestic and international markets. Testing Strong Resistance Zone : The price range of 750-770 has been tested multiple times and is currently attempting to breach it, indicating potential bullish momentum. Bullish Engulfing Patterns : Bullish engulfing candlestick patterns observed on both the weekly and daily timeframes signal strong buying momentum and potential upward movement. Trading at All-Time High : Ramkrishna Forgings is currently trading at its all-time high, indicating strong bullish sentiment and potential for further gains. Trading Above 50 and 200 EMA : The stock is trading above both the 50 and 200 Exponential Moving Averages (EMA) on the daily timeframe, confirming its bullish bias and potential for trend continuation. Volume Spike : A significant spike in trading volumes reflects increased market interest and potential accumulation by investors, adding confirmation to the bullish thesis for Ramkrishna Forgings. Target - 860 // 945 Stoploss - daily close below 700 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:RKFORGELong
by Visionary_Growth_Insights
4
A Winning Trade ExplainedIn the video I explain my approach to the market and how I use 'trade sizing' to manage my risk in the initial part of the US session. I walk through the price action for the NASDAQ and why I traded short and then flipped long. I explain the concept of sizing with regards to trade management and then how I 'SIZE UP' when I have conviction to end with a profitable session. ** 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 **
CME_MINI:NQ1!Education
by TradeTheStructure
1