Get started

Shortsetup

EURUSD- Short Position Initiated on Downtrend ConfirmationLooking at the EURUSD chart on the 1-hour timeframe, we can observe that the pair is in a strong downtrend, currently priced at 1.07720 at the time of writing. Upon analysis, we found that the pair is currently testing the 100MA alongside the 61.8% Fibonacci retracement level, with previous support now acting as resistance, aligning with our analysis indicating further downside movement. We've initiated our first short position with a stop-loss above the 78.6% Fibonacci level, representing approximately 0.14% risk. Our initial target for profit-taking (TP) is set at the previous low from March 24th, which is approximately 0.45% lower than our current position. This provides us with a risk-reward ratio of 1:3. Please note that this represents my personal view and is not intended as advice to buy or sell.
Short
by Coder775
Bitcoin's ATH Struggle: Eyeing a Retest of 59K Ahead HalvingAs Bitcoin grapples with momentum after reaching a new all-time high (ATH), the approaching halving event casts a spotlight on significant price levels that could dictate the market's next big move. With the bulls facing resistance in pushing beyond the ATH, a retest of the 59K support seems increasingly plausible. The 59K level is the immediate support that may come into play as the market digests its recent gains. This region is pivotal; holding above it might reaffirm buyer strength, while a break below could indicate a shift in market sentiment, prompting a reevaluation of bullish commitments. In the event of a breakdown beneath 59K, the lower support box emerges as the primary area for potential re-accumulation. This zone, highlighted by previous consolidations, may offer a strategic entry point for traders looking to buy the dip, anticipating a resurgence in buying pressure post-halving. Investors and traders should be prepared for this potential scenario by considering the 59K level as an initial barrier for defense and the lower box as a second line of support. A successful retest of these areas could well be the precursor to the next leg up, as past halving events have often preceded significant upward trends. Maintaining vigilance around these key levels is crucial as the halving approaches. It's advisable to have a clear risk management strategy, with well-defined entries and exits, to take advantage of the opportunities that the retest of 59K and the lower support box might present in this dynamic landscape.
BYBIT:BTCUSD.P
by Oak_the_trader
1
Gold price approaches $2,300 price expectation⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: The price of gold (XAU/USD) has surged to record highs of nearly $2,250 per troy ounce in the early Asian session on Monday. This increase is driven by several factors, including the anticipation of a shift in monetary policy by the Federal Reserve (Fed) in the second half of 2024, ongoing geopolitical tensions in the Middle East, and hopes for China's economic recovery. The possibility of central banks implementing looser monetary policies could further drive up the price of gold. Currently, financial markets have factored in a 68.5% chance of a quarter-point interest rate cut by the US Fed before June, according to the CME Fedwatch Tool. Fed Chairman Jerome Powell affirmed on Friday that the recent inflation data in the US aligns with their expectations, maintaining their stance on potential interest rate cuts this year. It is important to note that lower interest rates could make gold a more attractive investment since it doesn't generate interest. ⭐️ Personal comments NOVA: The FOMO from the market is huge, the new peak of Gold is gradually reaching $2300 according to experts. ⭐️ SET UP GOLD PRICE: 🔥BUY GOLD zone: $2236 - $2234 SL $2230 TP1: $2242 TP2: $2255 TP3: $2267 🔥SELL GOLD zone: $2265 - $2267 SL $2272 TP1: $2260 TP2: $2250 TP3: $2236 ⭐️ Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order. ⭐️ NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
OANDA:XAUUSDShort
by Nova-Scalper
12
Tilray approaching a swing trade and/or shorting opportunityNASDAQ:TLRY is approaching a resistance range and is at the top of a W pattern. It's rsi is also overbought above the 70 level. Volume is also trending upwards and has reached the level where the previous volume high (and price trend reversal) was. The trading opportunity is around the 3 scenarios shown in the chart, with, due to the technical indicators mentioned above, scenario 2 and then 3 being the most likely. Trading approach would be to wait until after the quarterly earnings are released and see if: Scenario 1 The price breaks above the resitance range, apply a 3 day filter to ensure it's not a fakeout, and swing trade upwards to approx. $3. Scenario 2 A more likely scenario, the price starts to decline and enter then enter into a short with a take profit at $1.60. Exact entry point for the trade might be difficult to determine, especially as the previous moves in price have been so explosive that there may not be an optimum tim eto enter, thus shorting would be a higher risk trade. Scenario 3 Wait until the price reaches the support level since November 2023 (approx. $1.6) and enter a swing trade back up to the resistance range with an exit at approx. $2.5. To reduce risk, enter the swing with a combination of the RSI being at 30 and/or a 3 day filter to reduce the risk of the price breaking down from $1.6 to a new low. Scenario 3.5 Same as scenario 3 but with the support level being around the DMAs and price range where the price movement faced some resistance on it's way up during mid-March 2024. A more likely scenario, the price starts to decline and enter then enter into a short with a take profit at $1.60. Exact entry point for the trade might be difficult to determine, especially as the previous moves in price have been so explosive that there may not be an optimum time to enter, thus shorting would be a higher risk trade. NOTE: Those with a risk appetite large enough may use the technical indicators mentioned in the first paragraph as enough of a comfirmation to enter a risky short trade: Entry point: Now ($2.45) Stop Loss: $2.70 Take Profit: $1.60 Risk:Reward ratio: 1:3
NASDAQ:TLRYShort
by slip_stream
5
Gold moves in a wide range, sideways⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: The price of gold (XAU/USD) is struggling to take advantage of the small gains made the previous day and is moving within a narrow range around the $2,170 mark during the Asian session on Tuesday. However, caution is advised before placing aggressive bearish bets on the precious metal and expecting a continuation of the recent significant decline from the record high near the $2,223 area reached last Thursday. Last week, the Federal Reserve (Fed) projected a less restrictive monetary policy in the future and indicated that it remains committed to reducing interest rates by 75 basis points this year. As a result, the US Dollar (USD) bulls are on the defensive, which benefits the non-yielding gold price. Additionally, escalating geopolitical tensions are supporting the safe-haven XAU/USD and should help limit any significant downward movement. ⭐️ Personal comments NOVA: The price range of $2150 - $2190 becomes the sideway range of Gold price, waiting to break the trend ⭐️ SET UP GOLD PRICE: 🔥BUY GOLD zone: $2150 - $2152 SL $2145 TP1: $2160 TP2: $2170 TP3: $2180 🔥SELL GOLD zone: $2188 - $2190 SL $2195 TP1: $2180 TP2: $2170 TP3: $2160 ⭐️ Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order. ⭐️ NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
OANDA:XAUUSDShort
by Nova-Scalper
3
Gold price sideway is stable above $2150 - $2180⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: The price of gold (XAU/USD) remains above the mid-$2,100s in the early hours of Asian trading on Monday. The increase in the value of the yellow metal is supported by the likelihood that the US Federal Reserve (Fed) may reduce interest rates later this year. Traders are anticipating the release of the US Gross Domestic Product (GDP) figures for the fourth quarter (Q4), which are expected to stay stable at 3.2%, in order to gain new momentum. Currently, the price of gold is trading around $2,168, with a gain of 0.15% for the day. Last week, after its March meeting, the Fed decided to keep its benchmark interest rate unchanged within the range of 5.25% to 5.50% for the fifth consecutive time. Fed Chairman Jerome Powell hinted that the central bank was planning three interest rate cuts in 2024, which increased investor demand for the precious metal and caused the price of gold to rise. According to the CME FedWatch Tool, investors have priced in a 72% chance that the Fed will begin cutting rates at the June meeting, up from 65% before the rate decision. ⭐️ Personal comments NOVA: After the terrorist incident in Russia, Gold price increased slightly and returned to above $2170. Stable sideway $2150 - $2180 continues to wait for new moves and information from the FED ⭐️ SET UP GOLD PRICE: 🔥BUY GOLD zone: $2150 - $2152 SL $2145 TP1: $2160 TP2: $2170 TP3: $2180 🔥SELL GOLD zone: $2183 - $2185 SL $2190 TP1: $2175 TP2: $2165 TP3: $2150 ⭐️ Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order. ⭐️ NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
OANDA:XAUUSDShort
by Nova-Scalper
1
Is GOLD about to Tanks/Drop?I wont lie, this one scares me the most, XAUUSD looks like it might be in some trouble. Im seeing a selloff happening from around this range, looks like we are still in a big correction which will end around the 1600.00 to 1500.00 range. Where all is in confluence i will update you guys on this. This is not me saying sell or what, im just sharing what I'm currently observing, and when the right time comes for us to execute orders, i will update y'all. NFA as always.
OANDA:XAUUSDShort
by Theofylrx
USDZAR to 13 rands per dollarBased on the chart, Im seeing nothing else but a sell from here. Weekly has a crazy divergence between the price and the RSI. A Top was created in February 2016. Range 19 to 20 rands is a liquidity area. from here if price does not break above 20 rands, then expect more price drops from here. Based on my TA, from November 2023 till 22 January 2024 we were in a correction cycle to complete wave cycle 2, so from here im expecting a further drop for wave cycle 3 an Impulse down which always comes after correction, then once wave cycle 3 is complete then i will come with an update because we need to also have wave cycle 4 and 5. So basically this year is gonna be changing for Rands against dollar. Im just here wondering on whats gonna happen with the S.A politics which is gonna lead to rand gaining strength against the dollar, but lets watch and we gonn see. Im just excited for this year man.
Short
by Theofylrx
12
EUR/USD Shorts from 1.09000 back downMy bias aligns closely with GU this week, focusing on selling from a comparable supply level evident on both charts. On EU, this manifests as the 4hr level around 1.09000, where I intend to sell. I'll await the current price to pull back into these zones to address the imbalance and form a redistribution pattern. Similarly to GU, there's a minor 4hr supply below that I anticipate will fail due to the presence of the Asian high above it. Once this fails and reaches the major supply, I'll be more inclined to sell from there as it offers a premium price. Confluences for EU Sells are as follows: - Price broke structure the downside and left a clean 4hr supply zone. - Imbalances that needs to b filled before tapping into the supply. - Lots of liquidity below in the form of asian lows. - Price is overall bearish on the higher time frame. - I can see the dollar to rising more to the upside. P.S. I observe the current price reacting to the existing demand. If this reaction fails, price might respond bullishly to the demand just below, potentially initiating an upward move towards the supply levels above. Have a great trading week guys!
Short
by Hassan_fx
2
GBP/USD Shorts from 1.27200 back downMy bias for GU is downward, expecting a minor retracement before a continuation of the downtrend. Currently, I'm monitoring for price to rise and reach the newly identified supply levels, particularly focusing on the 20-hour supply zone for its high quality. Observing the reaction at the first 4-hour supply, I anticipate a possible minor reaction, though I foresee it ultimately failing due to the presence of an Asian high above. Once price reaches the 20-hour supply area, I'll be watching for signs of a Wyckoff distribution pattern to form, signaling a potential opportunity to sell back down. Confluences for GU Sells are as follows: - Price broke structure the downside and left a clean 20hr supply zone. - Imbalances that needs to b filled before tapping into the supply. - Lots of liquidity below in the form of asian lows. - Price is overall bearish on the higher time frame. - I can see the dollar to rising more to the upside. P.S. While I anticipate further price drops, it's improbable without addressing the imbalances and supply levels above before further downward movement occurs. Have a great trading week!
Short
by Hassan_fx
1
Gold price continues to adjust !! XAU decrease⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: The price of gold (XAU/USD) is facing difficulties in taking advantage of the rebound it experienced from the support level of the 100-hour Simple Moving Average (SMA) around the $2,166-2,165 range. Instead, it is declining during the Asian session on Friday. Despite the Federal Reserve's (Fed) policy update on Wednesday, investors are shifting their focus away from it as the US Dollar (USD) has shown a strong comeback due to optimism surrounding the growth of the US economy. This, coupled with the higher yields of US Treasury bonds and the prevailing risk-on sentiment, are the main factors causing downward pressure on the safe-haven precious metal. ⭐️ Personal comments NOVA: Gold price after creating a new peak at $2222, decreased immediately then returned to the $2170 area. Currently, economic data is still supporting the dollar Information, FED keeping interest rates unchanged and world political tensions are still the driving force for Gold prices to increase in the near future. The DOWN correction is likely to continue today ⭐️ SET UP GOLD PRICE: 🔥BUY GOLD zone: $2147 - $2145 SL $2140 TP1: $2155 TP2: $2162 TP3: $2170 🔥SELL GOLD zone: $2193 - $2195 SL $2200 TP1: $2185 TP2: $2170 TP3: $2160 🔥SELL GOLD zone: $2188 - $2186 SL $2191 scalping TP1: $2184 TP2: $2180 TP3: $2170 ⭐️ Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order. ⭐️ NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
OANDA:XAUUSDShort
by Nova-Scalper
11
DAX (DAX Index): Waves of uncertainty 🌊DAX (DAX Index): XETR:DAX We recognize that our analysis might diverge from other analysts', but our assessment clearly indicates that the DAX is currently in an overarching Wave 4, visible on the weekly chart within a multi-year scenario. This holds unless we surpass the 18,000 level. If we move beyond 18,000, a reevaluation and recount would be necessary. Until then, we anticipate a decline in the DAX over the coming weeks, months, and possibly years. The exact timing, whether it rises or falls, cannot be pinpointed to a specific year. However, it's important to note that as long as the DAX doesn't exceed 138%, or the 18,000 mark, we expect to be in an Expanded Flat scenario. This aligns well with our expectations for Wave C or the overarching Wave IV, which should fall below Wave (A), fitting the pattern where both B and C waves overshoot in an Expanded Flat. Examining the 4-hour chart, we encounter the same scenario. Without flipping this key level, no significant change is expected. The 1-hour and 4-hour charts suggest an imminent rise, not immediately obvious on the daily or weekly charts, predicting a climb to around 17,500 euros before a downturn in the DAX. We do not anticipate an immediate reversal today or tomorrow but expect a final upward impulse before a corrective move downwards.
XETR:DAXShort
by freeguy_by_wmc