Gold price adjusted - slightly decreased⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
Gold price (XAU/USD) loses recovery momentum due to lack of fresh catalysts in a quiet session. However, renewed demand is supported by bets on interest rate cuts from the US Federal Reserve, geopolitical tensions, and strong demand from central banks and Asian buyers. Traders will focus on Fedspeak and the upcoming FOMC Minutes. Hawkish stance from Fed officials may lift the Greenback and lower USD-denominated Gold.
⭐️ Personal comments NOVA:
Gold price in the short-term adjustment price line - creating liquidity for the market. Pay attention to the short support zones $2400, $2390
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2392 - $2390 SL $2385
TP1: $2400
TP2: $2410
TP3: $2420
🔥SELL GOLD zone: $2454 - $2456 SL $2461
TP1: $2448
TP2: $2440
TP3: $2430
⭐️ 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
Shortsetup
Bearish reversal in Bank Nifty?The candles have respected the resistance by 20 SMA or the basis of Bollinger Bands in the daily chart of Bank Nifty.
The trend in the first look is bullish (Dow theory) but there are signs of weakness as well.
I would avoid trading in Bank nifty but if I have to, I will sell on the rise.
#banknifty #nifty
Oatly Whats likely, More Price Decline or Bottom reached?Hi Guys. This is a Technical Analysis Update on Oatly, (OTLY). On the 1 Week Timeframe.
We are in a critical area for OTLY.
We have continued our DECLINE from the REJECTION area
With last weeks candle close, We have CLOSED BELOW the "MAJOR SUPPORT" Area.
This candle close isn't enough information to assess what comes next. The next week or the next couple weeks we need CONFIRMATION.
So its important to observe what happens next.
So couple of scenarios can occur:
1. We confirm back ABOVE the MAJOR SUPPORT line. Leading to the formation of a DOUBLE BOTTOM pattern. This would confirm our bottom for OTLY, and we start to move back up to Resistance levels.
2. We CONFIRM our break BELOW the MAJOR SUPPORT.
Leading to not only ALL TIME LOWS, but the potential for the DESCENDING Triangle to play out.
If thats the case, we can go as LOW as $0.40 cents.
But without data points, its hard to assess if we do go down that far or stop before.
Notice also the "Bullish Divergence Trendline" on Price action. This line coincides with our "Measured Target".
Could be an area where we bounce from and be a potential Bottom area.
3. Ideal scenario would be we come down a bit lower from the Major SUPPORT Line and start our way back up ABOVE "Major Support". This would form a "Head" and play into a potential bottoming pattern, the Inverse Head & Shoulders pattern. The First green circle indicating our 1st bottom of potential double bottom, would be our left shoulder.
Watch also the RSI. We are nearing a Support test on the "Bullish DIVERGENCE" trendline. We want this to stay as support. We don't want a break and confirmation BELOW the RED dashed line. It could negate our Bullish Divergence Trend.
The STOCH RSI is also something to watch. We have traveled BELOW the 20 level. Extended stay below here, would indicate further Price DECLINES. We would like to see a BUllish cross back ABOVE 20 level for Bullish Momentum to come in and push prices back up. If we do get a cross, then Double bottom is likely.
We need to stay level headed as OTLY bottoms out. Take it one step at a time with an objective mindset.
__________________________________________________________________________________
Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again.
Stay tuned for more updates on OTLY in the near future.
If you have any questions, do reach out. Thank you again.
DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
Fill The Gap Into $SBUX Short Setup, RR of 1:4Understanding My Investment and Trading Strategy
I focus my charting on three key elements:
1. Price Action via Engulfing Patterns: I look for larger bullish or bearish candlesticks.
2. Price Gaps After Earnings Announcements or News Catalysts: These gaps can indicate significant price movements.
3. Volume Spikes: These confirm increased buying or selling pressure.
These elements help me identify demand and supply zones (support and resistance).
Trade Example
Long Trade:
Entry: $73.06 from the first demand zone (starting May 1st for 5 days).
Stop Loss: A close below $68.
Target: $85.
Risk/Reward Ratio: 1:2.4.
My Trade Idea
Short Trade:
Entry: $87 when the gap is filled.
Stop Loss: $90, due to significant selling pressure from the recent earnings report.
First Take Profit: $75, with a Risk/Reward Ratio of 1:4, just before the $73.06 demand zone (which is likely to fail if tested again).
Second Take Profit: $61, anticipating that $60 might be a psychological barrier for investors with buy limits, and it's close to the demand zone at $57.23.
For Long-Term Investors Interested in Starbucks
Price Target for Buying: $57.23, which corresponds to a Price/Earnings (PE) Ratio of 16.
Dividend Yield Target: $56.25, offering a 4% dividend yield. Considering a 5-year dividend growth rate of 9.24%, this results in a 13.24% Rate of Return (RoR).
ADAUSDT scalp meHello Birdies,
Here is a scalp trade ADA has made a range and it need liquidity.
Listen carefully, if this trade go against you take the opposite trade. But that chance is slim.
Everything is on chart trade accordingly and trade safe.
GOLD Trades Idea for Friday 17 May 2024DISCLAIMER
This is not financial advice; you are trading at your own risk. Never risk more than you are willing to lose.
Gold/USD (XAUUSD) Ideas For 17 May 2024
SELL LIMIT Order: $2387.39
Stop Loss: $2397.77
Take Profit 1: $2377.27
Take Profit 2: $2363.80
Risk per trade: 0.5%.
MT4/5 trade expiration: Today
100% mechanical strategy, zero analysis, zero guesswork. Rise and repeat day in and day out.
Reason
The first-hour candlestick closes below 21 EMA, hence our bias is to SELL. We will place 1x SELL LIMIT orders at 38.20%, both stop loss at 0%, take profit 1 at 100% and take profit 2 at 127.20%
Trade Review For 16 May 2023
We did not trigger our limit order. No trade for Thursday. Let's continue and try again tomorrow!
P&L for the month: +1.6R
01 May: +0.5R
02 May: +0.5R
03 May: +0.5R
06 May: +1.6R
09 May: +0.5R
13 May: -1R
14 May: -1R
The year 2024 Trade Results
January: +2.6R
February: +3.35R
March: -2.90R
April: -7.75R
NZDUSD sell setupNZDUSD is in a downward trend channel. This suggests that the New Zealand dollar is weaker than the US dollar. Price has recently showed some rejection at the top of the channel therefore we are looking to sell. The Take Profits target should be 0.58807 .We will set our Stop Loss at 0.60400 to manage risk in case the price reverses. It is important to closely monitor the trade and adjust the Stop Loss as needed to protect profits. Trading in the direction of the trend channel can help increase the probability of a successful trade.
GBJJPY is showing a sell trendOANDA:GBPJPY The H1 trendline of GBPJPY has been broken, and the setup has already been shared in the e minds. Now, we just need to wait for a retest for the entry setup to form. Also, there is support, which will act as resistance. Support levels are: 196.100-195.900. The entry has been taken from the H4 Fibonacci level of 0.786
PPI good for USD - Gold falls ! today⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
Gold prices bounce back even as the US Dollar consolidates on Tuesday. However, the rise could be restrained as investors anticipate key US inflation data. Continued high US rates have pressured gold prices recently, but increasing Middle East tensions may temporarily support them.
⭐️ Personal comments NOVA:
Gold price is still recovering - however today's PPI data is likely to support the dollar - Gold is under selling pressure
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2308 - $2306 SL $2300
TP1: $2315
TP2: $2322
TP3: $2330
🔥SELL GOLD zone: $2376 - $2378 SL $2383
TP1: $2370
TP2: $2360
TP3: $2350
⭐️ 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