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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