Gold- correction could be over soonAs explained in my latest video and written analysis, gold may have changed its trend. However, considering the 1000-pip drop from last week, a correction could occur.
Indeed, the price started to rise after hitting a low of 2325 and reached a high around the 2360 zone. This rise is clearly corrective in nature, and gold could soon drop again in a new downward leg.
The sell zone is between 2365 and 2375, with a target for bears at the 2300 level. I remain bearish as long as the price stays below 2380 on a daily closing basis.
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Gold could have change the trend in mid-termAs explained in yesterday's video, after a short-term consolidation above 2400, which formed a descending triangle, OANDA:XAUUSD dropped significantly in the middle of last week, reaching the 2330 support zone and forming a large bearish engulfing pattern on our weekly chart.
There is a likelihood of a mid-term trend reversal, with the price potentially falling below 2300 to revisit the 2280 support zone.
My strategy is to sell during rallies, with the negation of my view above 2380.
ICP- Good buying opportunityAs you know from my previous 3-4 posts on BINANCE:ICPUSDT , I am very bullish on this project and expected the price to reach $20.
Indeed, this has happened, followed by a strong 50% correction after reaching my target.
Now, the price is trading at $12 and is near a strong support level, both technically and psychologically, around $10.
In my opinion, these prices offer a good buying opportunity and in the event of a reversal and a retest of the $20 zone, a 100% gain could be achieved.
GbpUsd near a very important breakThe break of support on April 12 proved to be a false one. After establishing a higher low at the beginning of May, FX:GBPUSD is once again trading near resistance.
A break above this resistance would be significant, as the price has reversed from this level multiple times, and it also aligns with the falling trend line.
I will remain bullish as long as the price stays above 1.26, and I am looking for a rise above 1.3.
Gold- Near an important pointAfter breaking above the resistance of the falling channel, OANDA:XAUUSD started the week with a new all-time high.
The bulls managed to maintain the price above the crucial 2400 level for three days.
However, yesterday's trading session ended with a significant drop of 500 pips, pushing the price back below 2400.
Although the overall structure remains bullish, the price is now trading close to an important zone between 2355 and 2360.
If the bulls also lose this level, the price could drop further, potentially falling below 2300.
While my outlook remains bullish, I am very cautious.
SE Sea Limited Options Ahead of EarningsIf you haven`t bought SE before the previous earnings:
Then analyzing the options chain and the chart patterns of SE Sea Limited prior to the earnings report this week,
I would consider purchasing the 65usd strike price Calls with
an expiration date of 2024-6-21,
for a premium of approximately $5.45.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
TCOM Options Ahead of Earnings If you haven`t bought TCOM before the previous earnings:
Then analyzing the options chain and the chart patterns of TCOM prior to the earnings report this week,
I would consider purchasing the 55usd strike price in the money Calls with
an expiration date of 2024-9-20,
for a premium of approximately $6.45.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
USDCAD BUY | Idea Trading AnalysisUSDCAD is trading along the rising support
And as the pair will soon retest it I am expecting the price to go up To retest the supply levels above at
Hello Traders, here is the full analysis.
Price reversal going up, levels for BUY. Great BUY opportunity USDCAD. ! GOOD LUCK!
I still did my best and this is the most likely count for me at the moment.
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Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝
BIDU Baidu Options Ahead of Earnings If you haven`t bought the dip on BIDU:
Then Analyzing the options chain and the chart patterns of BIDU Baidu prior to the earnings report this week,
I would consider purchasing the 120usd strike price Calls with
an expiration date of 2024-6-21,
for a premium of approximately $2.47.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
BUD Anheuser-Busch InBev Options Ahead of EarningsIf you haven`t sold BUD after the Dylan Mulvaney scandal:
Then analyzing the options chain and the chart patterns of BUD Anheuser-Busch InBev prior to the earnings report this week,
I would consider purchasing the 60usd strike price at the money Calls with
an expiration date of 2025-1-17,
for a premium of approximately $5.50.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Gold has formed a higher lowIn my Monday commentary, I stated that there is a high likelihood that OANDA:XAUUSD may have finished correcting, and indeed, the price rose to around 2330.
After this initial increase, there was a subsequent drop, but bulls regained control just above the 2300 mark.
Yesterday's price movement indicates that dips are being bought, suggesting that Gold has established a second base, which is higher than the previous one.
Confirmation of an upward trend will occur with a break above 2320. In such a scenario, I anticipate the continuation of the upward movement towards the resistance zone at 2360.
My outlook remains bullish as long as yesterday's low remains unbroken.
Bitcoin- Bullish Engulfing on retestAs I mentioned a few days ago, BITSTAMP:BTCUSD has broken above the descending resistance level of its downward channel. This breakout could signal the end of the recent correction.
Following the initial climb to the critical horizontal level at 65k, Bitcoin experienced another drop, testing the previously broken resistance level, which this time acted as support. Yesterday, we observed a strong bullish engulfing pattern at this level.
These are positive indicators for bulls, suggesting potential further upward movement in price. The key level to monitor is 65k, and a breakout above this level could pave the way for a new all-time high in the near future.
My outlook remains bullish.
Correction for alts is probably overFor the past two months, CRYPTOCAP:TOTAL3 has been undergoing a correction. This correction was anticipated for many altcoins and, importantly, is very healthy for the market.
Upon closer analysis of the chart, it becomes evident that this correction does not signify a trend reversal.
Total3 halted its descent around the 600T zone, which does not represent very robust support.
I anticipate a fresh upward movement from many altcoins, potentially propelling Total3 to reach the 850T mark.
EurAud could rise 400 pipsRecently, FX:EURAUD breached the 1.63 support level. However, after reaching a low of 1.6220, the pair swiftly reversed, indicating a false breakout.
Over the past three weeks, the pair has formed a falling wedge pattern, hinting at a potential reversal to the upside. Confirmation of a bullish scenario would come with a break above the descending trend line. In the medium term, EURAUD could ascend and retest the recent high at 1.6680.
I maintain a bullish stance on this pair as long as the recent low remains unbroken.
EurUsd- 1.07-1/0720 zone, line in the sand for future directionSince the beginning of the year, FX:EURUSD has been in a downtrend. Despite occasional reversals from the lows, a broader examination reveals a pattern of lower highs.
Recently, once again, EURUSD reversed from the 1.06 zone low, but its ascent was halted just below the descending trend line, followed by a resumption of the downward movement.
Moreover, the recent rise forms a bearish flag pattern, further reinforcing the overall bearish sentiment.
Key support lies at the 1.07 zone, and a breach here could initiate a new downward movement. Subsequently, the next significant support levels are at 1.06 and 1.05.
My bearish outlook persists as long as the price remains below 1.0820.
Silver- Rise towards 30usd In my earlier analysis of OANDA:XAGUSD , I emphasized that bulls ought to monitor the price action closely, as Silver's correction might have concluded and previous resistance could now serve as support.
As anticipated, following a double Pin Bar formation in that area, Silver's price began to ascend, currently trading at 27.60, around an interim resistance level.
Given the bullish trend and the broader market structure, I anticipate a breakthrough above this level, leading to a continuation towards the $30 mark.
However, if the price falls below yesterday's low, it would temporarily halt this bullish scenario.
SQ Block Options Ahead of EarningsIf you haven`t sold SQ before the previous earnings:
Then analyzing the options chain and the chart patterns of PSQ Block prior to the earnings report this week,
I would consider purchasing the 72.50usd strike price Puts with
an expiration date of 2024-6-21,
for a premium of approximately $5.25.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Gold- Has it bottomed out?After reaching the all-time high in mid-April, OANDA:XAUUSD , as normal, began to correct lower.
As I correctly anticipated at that time, it dropped by 1,000 pips and fell below 2300.
However, around the 2280 level, which I had previously highlighted, bulls entered the market and pushed the price up every time it dipped in that zone.
Friday's NFP report brought significant volatility, with a daily range of over 500 pips. Nonetheless, the market closed above 2300 once again.
The inability to drop below the 2280-2290 support zone could indicate a bottoming process. With the long-term trend strongly bullish, further growth can be expected in the future if this support holds.
Confirmation of a bottom would come with a daily close above the 2320 zone.
In this scenario, the next resistance to watch for is the 2355-2360 zone.
However, if bulls fail to maintain the 2280 level, a sharp drop could follow, especially considering the high number of stop losses placed below this zone.
Gold cound continue down after correctionAs I mentioned yesterday, following the substantial decline observed on the last day of April, OANDA:XAUUSD could potentially rise and test the resistance zone around 2315.
Indeed, Gold rose even further to the 2330 zone before beginning to decline once more.
In my view, the medium-term trend for Gold has shifted to bearish, and I anticipate a new decline below 2300 following this rise.
My strategy is to sell rallies with a target around the 2270-2280 support range.
Alikze »» DOGE | Wave 3 of 3 big bullsIn the weekly time after a three-wave correction in the range of the green supported box. Currently, it has a three-wave upward movement that has completed a complex combination correction in the form of wave 2 and is currently in wave 3 of 3, wave C or 3 big. Therefore, I expect it to touch the specified targets on the chart after the supply zone is broken according to its strength.
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Gold could rebound, but trend is bearish on medium termFollowing a very choppy price action that finalized a flag pattern, OANDA:XAUUSD experienced a significant decline yesterday, amounting to a drop of 500 pips, breaching crucial horizontal support levels at 2315 and the 2300 mark, nearly reaching the support zone at 2270.
After such a substantial decline, a rebound is possible, though the medium-term trend currently favors a bearish outlook.
Resistance is now anticipated at 2315, presenting potential selling opportunities within that zone.
Conversely, a test of the 2270 support level could provide short-term traders with a favorable buying opportunity for a correction above 2300.
MMM 3M Company Options Ahead of EarningsIf you haven`t bought MMM before the previous earnings:
Then analyzing the options chain and the chart patterns of MMM 3M Company prior to the earnings report this week,
I would consider purchasing the 89usd strike price Puts with
an expiration date of 2024-5-3,
for a premium of approximately $1.08.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
AUDCAD in the first half of 2024A glimpse of the AUDCAD in the first half of 2024
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