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Relative Strength Index (RSI)

🥇Gold Analysis:Long-Term Trend and Key Scenarios👑🔍Let's dive into today's analysis, which is different from our usual cryptocurrency reviews. Today, we'll be analyzing gold on the weekly timeframe, as this is our first gold analysis in the channel. We'll start with a broad overview of the chart and later delve into lower timeframes. ⌛️As you may know, gold's long-term trend has historically been bullish. This is largely due to the persistent inflation in the United States, which averages around 4-5% annually. This means that the dollar loses about 5% of its value each year compared to the previous year. Since gold is traded relative to the US dollar, it naturally appreciates by approximately 5% annually, assuming no significant global events occur. 🤔However, US inflation is not the only variable affecting gold prices. For example, geopolitical events like wars can drive gold prices higher. This happens because countries feel threatened and central banks around the world increase their gold reserves as a safe-haven asset. 📰Other factors also influence gold prices. For instance, during Indian festivals, gold prices often rise due to the cultural tradition of wearing significant amounts of 24-karat gold in their festival attire. 📣Discussing all the factors would be too lengthy and beyond the scope of this analysis. The three examples mentioned above illustrate that the long-term bullish trend of gold is logical and expected. 📊 Technical Analysis Now that we understand gold's long-term trend, let's examine the chart to explore potential scenarios from a technical analysis perspective. Before detailing the scenarios, we'll review the market's past behavior to give context to our projections. 📆Historically, gold has faced significant resistance between 2014 and 2071, with the price being rejected three times at this level. However, it eventually formed a higher low at 1815, above the previous low of 1619, and managed to break through this resistance zone. Currently, the price has reached the 0.786 Fibonacci extension level, where upward momentum has decreased, indicating potential weakness in the bullish trend. Despite this, the trend remains bullish until confirmed otherwise. 🪄 Potential Scenarios 📉 Correction Scenario : If a correction occurs from the current area, the first key level to watch is the 0.236 Fibonacci retracement, coinciding with 2238. The next critical zone is the golden zone (0.5 to 0.618 Fibonacci retracement), aligning with the previously broken resistance area, making it a strong and reliable support zone. Additionally, the 25 and 99 SMAs are significantly below the current price, suggesting a potential gravitational pull towards these moving averages. The initial target for the correction is 2238, with the second target between 2014 and 2071. 📈 Continuation Scenario : If the price continues its upward movement and breaks above 2434, the next target would be 2719. However, this scenario seems less likely due to several factors: the price is near a significant resistance, showing signs of trend weakness, it's far from the moving averages, the RSI is diverging after exiting the overbought zone, and the candle patterns suggest decreasing volume, which often precedes corrections. Moreover, a healthy uptrend typically requires periodic corrections to remain sustainable; otherwise, the trend becomes unreliable and prone to sharp reversals. 📝In conclusion, while gold has a long-term bullish trend driven by economic and geopolitical factors, the current technical indicators suggest a potential short-term correction. Monitoring key levels and market behavior will be crucial for making informed trading decisions. For long-term investors, understanding these dynamics can help in identifying optimal entry points. If you enjoyed this analysis and want to support me, please boost this analysis. Feel free to leave a comment or suggest a specific asset for future analysis. 🧠💼It's important to acknowledge the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Always adhere to strict capital management principles and utilize stop-loss orders, ensuring that the initial target offers a risk-to-reward ratio of 2. 🫶If you enjoyed this analysis and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next.
FX:XAUUSD
by itsparham96
1
Crossover Trade - SOBHA📊 Script: SOBHA 📊 Sector: Realty 📊 Industry: Construction Key highlights: 💡⚡ 📈 Script is trading at upper band of BB. 📈 MACD is giving crossover . 📈 Double Moving Averages are giving crossover. 📈 Right now RSI is around 63. 📈 One can go for Swing Trade. ⏱️ C.M.P 📑💰- 1946 🟢 Target 🎯🏆 - 2113 ⚠️ Stoploss ☠️🚫 - 1860 ⚠️ Important: Always maintain your Risk & Reward Ratio. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat 🔁 Happy learning with trading. Cheers!🥂
NSE:SOBHALong
by radha_23
Xiaomi Drops but Strong Results & EV Entry Are SupportiveThe stock of Xiaomi posts its first losing week in more than a month, despite its mostly strong quarterly results on Thursday and the upgraded guidance on EV deliveries. The drop likely reflects the broader decline of the Hang Seng Index due to geopolitical concerns. It also makes sense from a technical standpoint, since it had reached highly overbought levels. It is now at a critical technical juncture, as it tests the 50 line on the RSI and is exposed to the 38.2% Fibonacci of this year’s advance. A breach of these levels would open the door to deeper correction that could challenge the EMA200 (black line) and the Ichimoku Cloud, but these levels can contains such moves. However, Xiaomi reported a 27% y/y increase in revenue in Q1 and 37.6% y/y rise in operating profits. Furthermore, its smartphone shipments increased and the No 3 maker globally can benefit from the expected recovery of the market, following last year’s contraction. Most importantly, the Chinese smartphone maker made its foray into electric vehicles this year, continuing to diversify and search for new growth markets. Demand for its SU7 sedan, deliveries of which began in late March, has been very high. It has already handed over 10,000 vehicles since May 15 and aims to deliver more than 100K units this year. Its entry into EVs has fueled a rally in its stock and can drive further gains. Even if there is risk of deeper pullback, the path of least resistance is higher, especially if the 38.2% Fibonacci holds. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (trading as “FXCM” or “FXCM EU”), previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763). Please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this video are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed via FXCM`s website: Stratos Markets Limited clients please see: www.fxcm.com Stratos Europe Ltd clients please see: www.fxcm.com Stratos Trading Pty. Limited clients please see: www.fxcm.com Stratos Global LLC clients please see: www.fxcm.com Past Performance is not an indicator of future results.
HKEX:1810Long
by FXCM
Pennant - EUHere I have EUR/USD on the 4 Hr Chart! Price made a good push to the Upside surpassing the Highs earlier this month but then getting caught up by the Highs of April Currently Price is bouncing back and forth between the Falling Resistance and Rising Support. Potential False Break zones for both Resistance and Support are marked by the High and Low Points starting the pattern! Pennants are patterns where the fight between Bears and Bulls is equal and eventually one will win out the other, this will be followed by a STRONG, CONVINCING Break of Pattern and Close to Validate the movement. Fundamentally this week for both EUR and USD will be Flash Manufacturing & Services PMI being released Thursday! As Indicators go: -Above 200 EMA -DSR Assist -Above 50 RSI -Super Nova Layout +3
by Novi_Fibonacci
📈FIL Analysis: Potential Breakout Ahead Amid ETF Speculations✨🔍Let's dive into today's analysis. The market continues to range, with most altcoins still confined within their range boxes, except for Ethereum, which has generated a lot of hype. 📰Today might finally be the day when momentum enters the market, as it's the deadline for the Ethereum ETF news. Regardless of whether it gets approved or not, the market is likely to see some movement. 🧩The coin we will analyze today is FIL (Filecoin). This project provides a cloud storage solution on the blockchain, similar to iCloud, where you can securely store your data. Today, we will focus on trading futures rather than the specifics of the project. 🔄In the 4-hour timeframe, after a significant drop in mid-April, FIL has been ranging, and this range continues. The range box has a ceiling at 6.678 and a floor at 5.332. These two levels are the primary triggers for opening positions. Any trigger between these two levels is unreliable; if you open a position, you should close it quickly. 📈For long positions, in addition to the breakout of 6.678, you can also consider the breakout of 6.316. If this resistance is broken, you can open a swing position. Currently, I do not see any other triggers for a long position. We need to wait for the market to create a new structure for additional triggers. ✅For profit-taking and targets, the first target based on support and resistance on the chart is 7.994. However, along the way, I will take partial profits several times. The only scenario in which I would keep the entire position open until it reaches 7.994 is if the RSI enters the oversold region and does not exit, indicating a sharp market movement. 📉For short positions, the main trigger, as mentioned, is 5.332. For early entry, you can enter a short position after testing 5.955 and breaking it. The second early trigger is 5.545, and breaking this level also allows for opening a short position. 📊Keep in mind, it doesn't matter which trigger is activated. The most important thing in the market is that volume increases in the direction of the trend. If you are opening a long position, the volume of green candles should increase, and the volume of red candles should decrease. The same applies to short positions; selling volume should increase, and buying volume should decrease. 📝In conclusion, today’s market movement could be significant, driven by the Ethereum ETF news. Be prepared for potential volatility and ensure your trading strategy is adaptable to both long and short opportunities in FIL. 🧠💼It's important to acknowledge the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Always adhere to strict capital management principles and utilize stop-loss orders, ensuring that the initial target offers a risk-to-reward ratio of 2.
by itsparham96
2
NIFTY DAILY - 22/5/2024Nifty opens with gap up and there was a selling pressure in starting which made day low which is 22483, but afterwards nifty made high of 22629 level. Nifty has formed Long Legged Doji pattern on daily chart which indicates opening and closing price are very close. RSI is around 59. Nifty has broken the resistance of 22586 so, further resistance can be 22610 level with support of 22554 level. Bank Nifty levels Support – 47305 Resistance – 48110 Today’s Advance Decline ratio of NIFTY50 Advance - 33 Decline - 17 FII Sell – 686.04 crores DII Buy + 961.91 crores. ⚠️ Important: Always maintain your Risk & Reward Ratio. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat 🔁 Happy learning with trading. Cheers!🥂
NSE:NIFTY
by radha_23
XRP Symmetrical Triangle - Bull target $0.65, Bear target $0.42NOT FINANCIAL ADVICE TL;DR #XRP Symmetrical Triangle, bull target $0.65, bear target $0.42 BINANCE:XRPUSDT has been trading in a symmetrical triangle for over 1 month. Well respected support trendline, with 4 clear touches. Ascending triangle on the RSI, watch it because a break of the support or resistance trendlines there might be a leading signal of a subsequent price action breakout. 🟢 Bull case Should we break the resistance trendline, my target will be the previous key area at $0.65. Be careful at $0.57 because we had 2 previous fakeouts to that level. Also watch the 200-day VWMA at $0.59 because it could offer some resistance on the way up. 🔴 Bear case A break below the support trendline would most likely lead to a retest of $0.42, either for a triple bottom or further downside.
by AliferCrypto
📈Daily Analysis: Exploring JASMY for Profitable Trades🎯🔍Yesterday, Bitcoin formed a strong bullish candle on the daily time frame, highlighting the importance of considering all scenarios to avoid being caught off guard by market movements. One of our scenarios suggested that a false breakdown of support could lead to an upward move. This indeed happened, with Bitcoin not only rising but also breaking through the $64,400 resistance and currently consolidating.Today, we will analyze JASMY, a coin that could offer good trading opportunities in futures markets. Let's identify potential entry points for profitable trades. ⚡️JASMY is currently in an uptrend on the daily time frame, making it suitable for long positions. However, the momentum has shifted as the SMA99 has caught up with the candles, indicating the possibility of short positions since the bullish momentum has waned, allowing for potential downward movements. ✅Support and Resistance: The price is consolidating between the 0 and 0.236 Fibonacci levels, with a support zone between 0.236 and 0.382 that has held despite significant selling pressure. A descending trend line was faked out once and has now stabilized above it, yet it hasn't triggered a decisive move. 📈The key trigger for confirming the continuation of the uptrend is at 0.021070, the previous high that led to a lower low. A candle closing above this level would suggest buyers are regaining control, making it a reliable entry point for long positions. Main Trigger: The ultimate trigger for a long position is at 0.024527. However, this level may break with a large candle, leaving little room for a logical stop-loss. Thus, trading at the 0.021070 level is preferable. 📊For a more robust confirmation, look for increasing volume in green candles. Without this, the upward trend may show weakness. Additionally, an RSI stabilization above 56.47 would confirm the re-entry of bullish momentum into the market. 📉The trigger for shorting JASMY is at 0.017195. However, given the overall bullish structure and better shorting opportunities in other coins with more pronounced downtrends, shorting JASMY is not highly recommended. 📝In summary, JASMY presents a potential for long positions, given its current uptrend in the daily time frame. The critical trigger level to watch is 0.021070, with further confirmation needed through increased trading volume and RSI stability above 56.47. While short positions are possible, the coin's overall bullish trend suggests focusing on long positions or finding other assets with stronger bearish trends for short trades. Stay vigilant and manage your risks appropriately to capitalize on the market movements effectively. 🧠💼It's important to acknowledge the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Always adhere to strict capital management principles and utilize stop-loss orders, ensuring that the initial target offers a risk-to-reward ratio of 2.
by itsparham96
1
NIFTY DAILY - 16/5/2024Nifty opens with positive note but bears took the market to low of the day which is 22054 with almost -160 points, into last one hour’s bulls were trying to stretch their arms and took nifty to high of the day which is 22432 level with almost up by 203 points (+0.92%). Nifty has formed bullish candle with long lower shadow which indicates participants were buying from day lower level. Currently RSI is around 53. Nifty has broken the resistance of 22273 and able to hold above 22400 so next resistance can be 22556 level with support of 22286 level. Bank Nifty levels Support – 47305 Resistance – 48110 Today’s Advance Decline ratio of NIFTY50 Advance - 38 Decline - 12 FII Sell – 776.49 crores DII Buy + 2127.81 crores. ⚠️ Important: Always maintain your Risk & Reward Ratio. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat 🔁 Happy learning with trading. Cheers!🥂
NSE:NIFTY
by radha_23
📈ETH: Identifying Key Entry Points in Futures Trading👑🔍Today is a crucial day for altcoins, as they have reached significant support levels. The market exhibits clear signs of buyer weakness, with selling volumes substantially outpacing buying volumes. Given these conditions, short positions are more favorable. The focus of today's analysis is Ethereum (ETH), the leading asset in the DeFi space that continues to attract a large number of enthusiasts. Let's examine potential entry points for ETH in futures trading. 🔄In the last analysis, I provided two triggers for positions—one long and one short. Both positions achieved their targets if closed early as advised, resulting in profitable trades. If you entered these positions, please share your experiences in the comments; it’s gratifying to see you profit from the provided triggers. If you missed these triggers, don't worry—there are always opportunities in the market. Pay close attention to the triggers I provide to avoid missing future movements and to secure profits. 📉The chart clearly shows a downtrend for ETH, with a descending triangle pattern indicating a potential move lower. The trigger for this triangle is the support at $2,880. If a candle closes below this level, we can expect the price to move down to the $2,614 area, providing a suitable target. Confirmation of this downward momentum can be reinforced by the RSI breaking below its support at 36.59. This would allow us to confidently maintain our short positions. The volume of the candles is also crucial, as increasing selling volume could lead to a sharper decline. Thus, this trigger offers a solid short position opportunity. 📈Despite the strong selling pressure, we should always prepare for multiple scenarios and avoid being surprised by market movements. Like a general with multiple battle plans, traders should anticipate various outcomes. Although I see a higher probability of a decline, I still consider potential long triggers. Given the strong downtrend and weak buyer momentum, I would enter a long position only if a candle stabilizes above $2,964. However, the risk for this position would be half of the usual, and I would close it quickly. A more reliable long trigger would be $3,283, which becomes logical if the SMA99 moves below the candles, removing a significant dynamic resistance. 📝In conclusion, Ethereum's current market conditions favor short positions due to a clear downtrend and significant selling pressure. The primary short trigger at $2,880 and target of $2,614 offer a promising setup. However, always prepare for alternative scenarios. For potential upward movements, consider long positions with a candle close above $2,964, but manage these positions with reduced risk and quick exits. The more robust long trigger at $3,283 could provide a safer entry as market dynamics change. Stay vigilant, manage your risks, and adapt to market movements to capitalize on trading opportunities. 🧠💼It's important to acknowledge the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Always adhere to strict capital management principles and utilize stop-loss orders, ensuring that the initial target offers a risk-to-reward ratio of 2.
Short
by itsparham96
GBP/USD Testing Daily Resistance Ahead of UK Data Sterling ended the week a touch lower versus the US dollar, down -0.2% and snapping a two-week bullish phase. As we enter the second full week of May, the GBP/USD currency pair will be monitored closely ahead of Tuesday’s employment and wage data out of the UK, with technical studies indicating a bearish move could be on the table. Long-Term Picture Price action on the monthly chart continues to hold under resistance at $1.2715, which has been the case since late 2023. This is currently reinforced by the daily chart wrapping up the week testing channel resistance, drawn from the high of $1.2894, a descending line complemented by a horizontal resistance level at $1.2527. While one may argue that the monthly chart is in the early stages of an uptrend, the high at $1.3142, located near the next layer of resistance at $1.3111, would likely need to be breached before a long-term uptrend can be confirmed with any conviction. As things stand, the monthly support level at $1.2173 is viewed as the next logical longer-term downside target for GBP bears and the trend currently supports sellers (this would be strengthened were a break of $1.2173 to be seen). This is also aligned with the daily chart’s downtrend, printing clear lower lows and lower highs since pencilling in a top at $1.2894. Further supporting bears, both monthly and daily charts reveal that the Relative Strength Index (RSI) is testing the underside of the 50.00 centreline, indicating possible resistance. Short-Term Picture From the H1 timeframe, price action concluded the week at the underside of resistance from $1.2530, set just ahead of the $1.25 handle. Space north of current resistance draws attention to prime resistance coming in from $1.2583-$1.2560. Knowing that the longer-term trend is facing southbound and daily price is testing resistance from $1.2527, H1 resistance from $1.2530 or the prime resistance at $1.2583-$1.2560 could be areas that sellers welcome this week, taking aim at $1.25, followed by H1 support from $1.2459 and perhaps $1.24.
Short
by FPMarkets
📈IOTA Analysis: Short and Long Opportunities in Focus💥🔍Following Bitcoin's recent uptick last night, the concurrent increase in Bitcoin dominance prevented most altcoins from experiencing significant price gains. Instead, many coins traded within a range, with some even witnessing a decrease in value, such as IOTA, which we'll analyze today. 📚While I haven't conducted an in-depth study on the IOTA project yet, it generally operates as a protocol for feeless and permissionless data transfer, actively functioning in this domain. I'll provide more insights into this project once I've conducted thorough research. For now, let's delve into the chart to identify potential entry points. 📈On the 4-hour timeframe, which serves as my primary analysis timeframe for futures, the downward trend is evident, indicating a bearish trajectory. Therefore, with a suitable trigger, we can consider opening short positions. However, initiating long positions on short-term shorts requires higher risk tolerance due to the market's direction. ✨Currently, we are within a support range from 0.2020 to 0.2086, and the price is consolidating within this range to determine whether buyers can maintain this support or if selling pressure will overwhelm them, causing the support to fail. Hence, we need to observe the upcoming developments. If the support breaks, we can expect a target of 0.1719, but if it holds, it may act as a bounce back to the SMA99. 📉For short positions, exert effort to open positions upon the breakdown of 0.2020 and the confirmation of a candle below this level, as this scenario could easily drive the price to 0.1719, offering a favorable risk-to-reward ratio. However, if you're considering long positions, patience is required until the price surpasses the SMA99, followed by identifying a trigger from the candles. The nearest trigger is at 0.2328, but as we're against the trend, consider securing profits at a risk-to-reward ratio of 2 or 3 and leaving some room for a target of 0.2599. 📊Currently, the candle volumes do not provide sufficient data due to recent holidays, with low volumes followed by a sudden increase. Therefore, we need to wait for a few more candles to compare volumes effectively. RSI triggers for long positions cannot be specified due to the timeframe limitation, as price movement towards the range high can significantly alter the RSI structure, rendering the triggers meaningless. However, for short positions, you can consider the breakdown of 27.22 as confirmation. 📝In conclusion, the analysis of IOTA presents both short and long trading opportunities, contingent upon market dynamics and price movements. While the current downtrend suggests potential short positions, traders should exercise caution and wait for confirmatory triggers, particularly a breakdown below the support range of 0.2020 to 0.2086. Conversely, for long positions, patience is advised until the price surpasses the SMA99, followed by identifying suitable triggers. It's essential to maintain a disciplined approach, considering risk management strategies and closely monitoring candle volumes for a comprehensive assessment of market sentiment. As always, adaptability and readiness to adjust trading strategies in response to evolving market conditions remain paramount for successful trading endeavors. 🧠💼It's important to acknowledge the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Always adhere to strict capital management principles and utilize stop-loss orders, ensuring that the initial target offers a risk-to-reward ratio of 2
by itsparham96
EUR VS. USD, Traders @ Equilibrium?? Lets Navigate!Here I have EUR/USD on the Daily Chart! This Spring of 2024 we can see Price of EUR/USD has kind of been "trapped" where you can see the Highs in March begin to follow a subtle Falling Resistance from the Local Resistance Zone, then CONFIRMED by the test of said trendline early April and NOW early May where we see Price has come to rest just below our Falling Resistance. Countering that is the Rising Support from the Local Support Zone where Price tested three times in April. Altogether, forming what looks to be a Symmetrical Triangle Pattern!! -Basically showing us that traders are unsure where price may go, creating a point of equilibrium to where we eventually see a BREAK either BULLISH -or- BEARISH! __ In the Event that the Symmetrical Triangle is BROKEN, I suspect we could see a potential 3%+ Price move in the direction of the BREAK given it is a TRUE BREAKOUT and not a FAKEOUT! **This prediction sees Price testing the JULY/OCT levels of 2023 depending on which way we see the scale tip in strength between EUR and USD, making these levels our 1st Areas of TP! Zones of Value: July 2023 High Resistance ( 1.12298 - 1.11404 ) Local Resistance ( 1.10426 - 1.09812 ) Oct. 2023 Low Support ( 1.05167 - 1.04503 ) Local Support ( 1.07238 - 1.06601 ) Now fundamentally, DXY started this month with HOTTER than expected ADP Non-Farm Employment Change numbers and remarkable Manufacturing Prices but ended the first week with EXTREMELY poor Non-Farm Employment Change and Services PMI then to end last week with disappointing Unemployment Claims and UoM Consumer Sentiment BUT What's left to come this week may give us a clearer map to help us navigate this pair!! USD- PPI (Tues), CPI & Retail Sales (Wed), Unemployment Claims (Thur) EUR- ECB Financial Stability Review (Thur) *More for EUR following week for news*
by Novi_Fibonacci
📈Navigating Market Restlessness: A Deep Dive into Ray Token 💵🔍Since the previous analysis, the market has exhibited a sideways movement, indicating a period of consolidation. Amidst this, the spotlight falls on Ray Token (RAY), a project garnering attention for its innovative approach within the decentralized exchange (DEX) space, operating on the Solana blockchain. 🔄In the 4-hour timeframe, we find ourselves within a range-bound scenario, with the box's ceiling at 1.7863 and the floor at 1.3569. While navigating within this range, short-term and scalp positions are viable options. However, it's essential to remain cautious, particularly on Sundays, as market volatility tends to be subdued due to reduced participation from major traders. Consequently, risk management becomes paramount to mitigate potential losses during erratic market movements. 📉The primary trigger for short positions lies at 1.3569, with the potential activation of a double bottom pattern upon breaching this short-term support. However, given the subdued market conditions, exercising patience until confirmation of a sustained break below this level is advisable. Conversely, long positions should be approached cautiously, with the primary trigger set at 1.7863, considering the significant resistance at 1.8818. Exploring alternative coins exhibiting relative strength against Bitcoin while lacking extensive overhead resistance may present more favorable long opportunities. 📈For RAY token specifically, a critical level to monitor is 2.4575, beyond which a potential bullish momentum could ensue, particularly in higher timeframes such as daily or weekly. Hence, positioning for long trades post-breakout beyond this level could yield favorable results. 📊Volume analysis indicates a diminishing volume within the box, signaling an imminent sharp movement. Therefore, staying vigilant and capitalizing on sharp price movements is advisable to maximize trading opportunities. 💎Regarding RSI triggers, oversold conditions below 42.68 could signal potential short opportunities, while overbought conditions provide favorable entry points for long positions. However, it's crucial to exercise discretion and wait for confirmation from price action, particularly in scenarios where RSI enters oversold territory, indicating a possible trend reversal. 📝In conclusion, despite the market's current state of restlessness, opportunities abound for astute traders. By employing a judicious approach, leveraging critical triggers, and remaining adaptable to evolving market conditions, traders can navigate the intricacies of the market landscape effectively, maximizing profit potential while minimizing risks.
by itsparham96
Gold Buyers Back in the Fight; H1 Supports Call for AttentionControl changed hands in the gold space (XAU/USD) last week; buyers strengthened their grip, adding +2.5% and snapping a two-week losing streak a whisker off all-time highs of $2,431. Technicals Favouring Buyers Last week’s move was (technically) aided by support on the daily timeframe coming in from $2,280, a level which the Research Team were watching closely and recently noted the following (italics): A move lower will unlikely breach bids from daily support at $2,280, which is an area buyers could look to defend as dip buyers (trend followers) attempt to enter the trend from support. The above-mentioned support benefitted from a 1.618% Fibonacci projection ratio at $2,293. Among the Harmonic trading community, this is also referred to as an ‘alternate’ or ‘extended’ AB=CD formation. You will note that price has rallied beyond the 38.2% Fibonacci retracement ratio at $2,336, ending the week at $2,371, a 61.8% Fibonacci retracement ratio. Both of the aforesaid ratios are derived from the legs A-D of the AB=CD structure and tend to serve as upside targets for Harmonic traders. Having seen the AB=CD structure complete (both upside targets achieved) and taking into consideration that the price of the yellow metal remains entrenched within an unmistakable uptrend (no matter which trend identification tool you employ, it all points to the same thing), together with the daily chart’s Relative Strength Index (RSI) rebounding from a combination of the 50.00 centreline and trendline support (extended from the low of 19.33), this remains a buyers’ market. The caveat is the weekly chart’s RSI recently pulling back from overbought highs not seen since mid-2020, though let’s not forget that this indicator can, and often does, remain overbought for prolonged periods in trending environments. Direction This Week? Given the bigger picture demonstrating scope to explore higher terrain, shorter-term structure on the H1 timeframe highlights neighbouring demand at $2,347-$2,355 as a possible platform buyers may work with this week. Failure to hold here unearths two additional levels of support to consider at $2,326 and $2,344.
FPMARKETS:XAUUSDLong
by FPMarkets
📈BNB Market Analysis: Potential Long and Short Positions✅🔍As Bitcoin experienced a notable downturn today, catching many traders unaware, it's imperative to reassess market conditions and identify potential trading opportunities. In this analysis, we'll delve into the intricacies of Binance Coin (BNB) and explore various factors shaping its price action. 💎Binance, being one of the most reputable digital currency exchanges globally, serves as a pivotal platform for traders worldwide. Its reliability and extensive range of services, including the renowned Launchpad feature, where users can participate in token sales by staking BNB, make it a preferred choice for many traders. 🔄In the 4-hour timeframe, we observe a recurring resistance zone between 617 and 656, which has been tested multiple times. Interestingly, each test resulted in a higher low, underscoring the increasing buying pressure within the market. Furthermore, the primary support established during this period lies at 517, encapsulating the range between 517 and 617. Adhering to our trading strategy, it's crucial to exercise caution within this range, managing positions with risk-to-reward ratios of at least 2 to ensure long-term profitability. 📊Volume analysis reveals a recent surge in selling pressure, particularly evident in the higher volume accompanying bearish candles. However, the overall volume trend indicates a decline, potentially susceptible to manipulation by larger market participants. As a result, while SMAs are temporarily disregarded due to the ranging market, RSI remains a pertinent indicator, offering insights into potential overbought or oversold conditions. 📈Moving on to potential triggers for long positions, the primary resistance at 600 warrants attention. However, given the current range-bound nature of the market, traders should temper their expectations regarding risk-to-reward ratios. Instead, emphasis should be placed on swift profit-taking and efficient position management. 📉Conversely, short position triggers at 576 and 543 are within the confines of the range-bound market. Thus, traders must exercise prudence, focusing on timely profit-taking and risk mitigation strategies. The critical short trigger at 517 signifies confirmation of rejection from ATH, potentially heralding a downtrend in the 4-hour timeframe. 📝In conclusion, Binance Coin (BNB) presents a nuanced landscape for traders, characterized by recurring resistance and support levels within a range-bound market. By employing meticulous risk management strategies and leveraging key triggers, traders can navigate market fluctuations effectively, maximizing profitability while mitigating potential losses. 🧠💼It's important to acknowledge the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Always adhere to strict capital management principles and utilize stop-loss orders, ensuring that the initial target offers a risk-to-reward ratio of 2
by itsparham96
2
📈Analysis for Potential Long and Short Positions in ENS✨🔍Today's market position offers a pivotal moment, potentially setting the trajectory for the next 2-3 months. Following a minor downturn yesterday, altcoins have once again approached the lower end of the trading range. This juncture demands vigilance, especially considering potential short positions upon breaking support levels to avoid missing out on market movements. 🔄Bitcoin has activated its trigger yesterday, signaling market activity. Therefore, I've identified ENS (Ethereum Name Service) as a coin still holding its support. ENS allows users to convert Ethereum addresses into unique NFTs, simplifying transactions. Feel free to send any funds to my address parham96.eth; it's my pleasure to receive them! ✅Utilizing price action analysis with a classical approach, focusing on breakout patterns, I've conducted an analysis on ENS. 💎A Fibonacci retracement from the previous downturn indicates a correction to 61.8%, suggesting diminished downward momentum. A range box has formed between 0.618 and 0.236 Fibonacci levels, with a ceiling at 16.8 and a floor at 14. This range has tested the 0.5 level twice, forming a Head and Shoulders pattern with neckline support at 14 and a potential first target at 12.45. During range-bound trading, closing positions at risk-to-reward ratios of 2 or 3 is advisable, building a foundation for risk-taking in future trends. Confirmation of trend reversal can be sought through RSI, with a break below 31.47 signaling potential significant price movements. For long positions, a risky scalp entry can be considered upon breaking 14.39, with risk-to-reward ratios emphasizing conservative targets. RSI confirmation below 42.63 can further validate the signal. 📈For long positions, entry confirmation is contingent on increasing buying volume, ensuring logical market participation. 🛒If ENS appears promising to you, please leave a comment for analysis feedback. Moreover, if there's considerable demand for spot buying analysis, I'll provide daily or weekly timeframe analysis for your convenience. ⚡️This analysis aims to equip traders with insights for potential positions, emphasizing risk management and strategic entry points in ENS trading. 🧠💼It's important to acknowledge the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Always adhere to strict capital management principles and utilize stop-loss orders, ensuring that the initial target offers a risk-to-reward ratio of 2
by itsparham96
Keep An Eye - Breakout Soon - OIL📊 Script: OIL 📊 Sector: Crude Oil & Natural Gas 📊 Industry: Oil Drilling / Allied Services Key highlights: 💡⚡ 📈 Script is trading near at its resistance level which is 645. 📈 Script should give closing above 645 level so that we can see good rally. 📈 Script is trading at upper band of BB. 📈 MACD and Double Moving Averages are giving crossover. 📈 Right now RSI is around 59. 📈 One can go for Swing Trade only above 645. BUY ONLY ABOVE 645. ⏱️ C.M.P 📑💰- 636 🟢 Target 🎯🏆 - 691 ⚠️ Stoploss ☠️🚫 - 625 ⚠️ Important: Always maintain your Risk & Reward Ratio. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat 🔁 Happy learning with trading. Cheers!🥂
NSE:OILLong
by radha_23
1
📈In-Depth Analysis of DOT: Long or Short Position?🔔🔍As we approach the ceiling of the trading range, it's time to pause and assess the decisions of the major players in the market. Understanding the dynamics between buyers and sellers, we aim to determine whether to take a long or short position. Today, we delve into the analysis of DOT, a coin that, like many others, is currently grappling with the resistance level without managing to consolidate above 7.455. 📈If we anticipate entering a long position after breaking the trend line, it implies a journey towards the lower end of the box, potentially around the support level of 6.275. With a 15% distance from the ceiling to the floor of the box, it presents an opportunity to open a suitable position in the futures market and ride it out until the floor of the box. The short trigger stands at 7.045, where a break in the shorter time frames like 1-hour or 15 minutes can offer a low-risk entry with quick risk-to-reward capture. ✅It's advisable to refrain from expecting high risk-to-reward ratios while within the range of 6.275 to 7.455. Settle for risk-to-reward ratios of 2 or 3 to ensure profit potential without being overly exposed to market fluctuations. ⚡️In the event of a breakout above 7.455, considering a long position requires a different approach. Given the anticipation of a new trend, setting stop-loss levels should align with the emerging trend rather than tight stop-losses to avoid premature exits. The previous model suits range-bound markets where lower risk-to-reward ratios suffice. However, for a potential upward move in the 4-hour timeframe, exercising patience for price action confirmation is crucial. Targets can be dynamically adjusted based on price behavior. 💥For a long position, a break above the 70 RSI line can serve as a confirmation of a sharp move upwards. As for the short position, attention to volume dynamics is essential, especially if the volume is gradually declining, indicating a forthcoming sharp market move. 📝To sum up, we have outlined strategies for both long and short positions in DOT. Whether the market undergoes a downturn and breaks below 6.275 or rallies above 7.455, traders can capitalize on either scenario. Additionally, considering the potential fakeouts, maintaining vigilance and adapting strategies accordingly is paramount for successful trading. 🧠💼It's important to acknowledge the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Always adhere to strict capital management principles and utilize stop-loss orders, ensuring that the initial target offers a risk-to-reward ratio of 2
by itsparham96
📈 NEAR: Capitalizing on Bullish Momentum🚀🔍Let's delve into today's analysis. Weekly candlesticks closed yesterday, revealing compelling entry points for some altcoins. Even Bitcoin displayed a robust candle, indicative of buyer strength. Given the current market dynamics, it seems logical to consider adding Bitcoin to our portfolios. However, after thorough research, I've identified an altcoin that presents a relative uptrend to Bitcoin. In a market poised for upward movement, this altcoin is likely to outperform Bitcoin, offering greater potential returns. 💎The coin in question is Near Protocol (NEAR), a native coin of the Near Protocol blockchain. It boasts a robust project, making it a worthy addition to your bull market portfolio. Our previous entry point, as per our strategy, was a breakout above $3.823. While I didn't provide the detailed analysis then, it's crucial to stay vigilant for such entry opportunities. Since our entry, NEAR has delivered nearly 100% profit, doubling our investment. ⚡️A popular strategy suggests selling half of your position when your investment doubles, allowing you to secure profits while letting the remainder ride the market's ups and downs. However, I have a different approach. I firmly believe in holding onto my investments until Bitcoin surpasses $40,000, as I anticipate a bullish future for altcoins. These coins have the potential to multiply several times over, significantly increasing your capital. 📈Now, let's delve into the technical analysis and understand why NEAR should be part of your portfolio. On the weekly timeframe, after bottoming at $1 in October 2023, NEAR began its upward trajectory, witnessing a remarkable 600% growth. Yet, its potential extends far beyond these figures. Following a crucial resistance breakout, we're witnessing an influx of buying volume. Last week's candlestick, consolidating above the SMA7, signals strength and potential for further upside. ✅Moreover, the RSI indicator has exited the overbought territory, presenting an opportunity for a third bullish wave. With these insights and prudent capital management, now may be an opportune moment to enter a long position. For risk management, consider placing your stop-loss below $5, or even $4 for added security. As for targets, $17 presents a conservative estimate for Target 1, with potential for further gains upon its breach.
Long
by itsparham96
BREAKOUT or FAKEOUT?? - EGHere I have EUR/GBP on the 4 Hr Chart! Ever since its visit at the Support Zone @ ( .8534 - .8528 ), Price has been steadily making Higher Highs and Higher Lows with the most significant High in the Price Action being Friday's High reaching the Resistance Zone @ ( .8586 - .8581 ) on the release of LOWER than expected NFP numbers for USD ( 175K Actual - 238K Forecast ) Now not only did we get an enormous Bullish Break on Friday, but by market close, most of those gains were given back bringing Price back to the cycle of Highs it broke AND a Minor Support Zone. So .. Is this a BREAKOUT or a FAKEOUT?! I think to answer this question, it will come down to the Fundamentals as of late! I believe EUR started to slightly overpower GBP Mar. 21st when BOE decided to HOLD their Interest Rates @ 5.25% Then, Apr. 17th GBP gets the HOTTER than expected CPI of 3.2% with BOE Bailey making the comment that Inflation looks to have quite a STRONG DROP in May ... Followed by a very disappointing Retail Sales read of 0% on Apr. 19th .. -COULD THIS MEAN GBP WILL BE THE NEXT UP FOR RATE CUTS?!?!- Well on Thur. May 9th, BOE meets to take vote on whether they INCREASE, DECREASE or HOLD RATES Also GDP Fri. May 10th .. From a Technical standpoint, I want to watch for Price to either: Find Solid Support at the Minor Level + Ranged Highs to continue higher -OR- Price to drop back down through the High/Low Range with a Bearish Break using Resistance from the Ranged Lows -DOES THE BOE HAVE THE DATA INFRONT OF THEM TO LOWER OR HOLD RATES??-
by Novi_Fibonacci
Crossover - TRITURBINE📊 Script: TRITURBINE 📊 Sector: Capital Goods - Electrical Equipment 📊 Industry: Electric Equipment Key highlights: 💡⚡ 📈 Script is trading at upper band of BB and giving breakout of it. 📈 MACD is giving crossover . 📈 Double Moving Averages also giving Crossover. 📈 Right now RSI is around 71. 📈 One can go for Swing Trade. ⏱️ C.M.P 📑💰- 537 🟢 Target 🎯🏆 - 591 ⚠️ Stoploss ☠️🚫 - 507 ⚠️ Important: Always maintain your Risk & Reward Ratio. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat 🔁 Happy learning with trading. Cheers!🥂
NSE:TRITURBINELong
by radha_23