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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.
OANDA:XAUUSDLong
by Mihai_Iacob
4
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.
OANDA:XAUUSDShort
by Mihai_Iacob
1
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. »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Sincerely.❤️ »»»«««»»»«««»»»«««
Long
by alikze
7
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.
OANDA:XAUUSD
by Mihai_Iacob
Lingrid | BITCOIN breaking through the CHANNELBINANCE:BTCUSDT is slowly climbing upwards. It is about to potentially break through the downward channel border and update the highs. The market broke and closed above the significant level at 65,000. Also, it broke the structure, making higher highs and higher lows. I expect a short-term rollback to the support level, then growth from the support level to recent higher highs. My target is the key resistance zone at 70,000. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Long
by Lingrid
12
Gold could rise to test resistanceYesterday, OANDA:XAUUSD dipped below the 2300 mark, aiming to test the support zone around 2270. However, despite two attempts to continue downwards, the price swiftly reversed above 2300 each time. The second reversal was even more pronounced than the first, resulting in a 400-pip increase in price. At present, Gold is trading around 2225 support zone. A decisive break above this level could signal further upward movement, potentially testing the resistance zone at 2360. As long as the newly established short-term support at 2315 remains intact, my outlook is bullish.
OANDA:XAUUSDLong
by Mihai_Iacob
1
GbpUsd- My target remains intact, so, where to sell?As you're aware, I've held a strong bearish stance on FX:GBPUSD , not only anticipating a drop below the 1.25 support level but also expecting a plunge to the 1.2 level. So far, this prediction has been on point. Last week, cable confirmed its weakness as all rallies were sold off, failing to even retest the broken 1.25 support level. Maintaining my bearish outlook, I anticipate further downside momentum, potentially reaching 1.2. Regarding entry points for short selling, if you're not already in a short position, the optimal level would be around 1.24. However, given yesterday's price action, rallies above 1.2350 should also be viewed as favorable opportunities for entry.
Short
by Mihai_Iacob
5
1000 pips drop for XauUsd remains my STRONG convictionAs you're aware, I maintain my expectation for a significant correction in the price of $OANDA:XAUUSD. Despite this correction not materializing yet, my confidence in this outlook continues to strengthen each day. Yesterday proved to be relatively quiet for XAUUSD, with the price exhibiting range-bound movements during both the London and New York sessions. However, overnight, during the Asian session, Gold experienced another spike above 2400. This upward movement was swiftly reversed, suggesting that it was driven primarily by emotional reactions to "war" news. From a technical standpoint, the signs indicating a market top are becoming increasingly evident, especially following last Friday's blow-off top and today's reversal. Support currently rests around the 2365-2370 range, and once this level is breached, I anticipate a descent to 2325. Furthermore, considering the broader market structure that would unfold if Gold reaches this level, a decline to the 2280 zone appears inevitable. Any prices exceeding 2400 (if it reaches that level again) should be viewed as opportunities for selling.
OANDA:XAUUSDShort
by Mihai_Iacob
Ethereum- Back to 4k, confirmation is needed thoughAfter breaking below the horizontal support level in the 3.2k zone two Saturdays ago, BITSTAMP:ETHUSD remained below this crucial level throughout last week. However, after initially reversing upon touching 2850, Ethereum tested that level again and reversed once more on Friday, forming a prominent daily Pin Bar on our chart. As of now, the price has returned to the resistance zone (the former support), and a break back above it would indicate a false breakout and the completion of the correction. I am bullish on Ethereum and am inclined to buy on dips. My target is a retest of the 4k mark.
BITSTAMP:ETHUSDLong
by Mihai_Iacob
4
Gold- Lower high forming, or correction done?In my post from yesterday, I mentioned my expectation for a new drop of 500 pips in $OANDA:XAUUSD. However, despite the price dropping by around 400 pips during intraday trading, my sell order placed just above the 2400 zone was not filled, resulting in me missing out on this drop (my target was hit but not my pending sell) Upon reviewing the chart, it's evident that while my bearish outlook remains unchanged and I still anticipate Gold needing to drop below 2300 to complete the correction, the situation is not as straightforward as initially thought. The swift reversal following the drop below the 2360 support zone is not very encouraging for bearish sentiment. Additionally, considering the prevailing bullish trend, it's important to acknowledge that trading on the sell side entails trading within a correctionary phase. Nevertheless, there is a silver lining amidst this uncertainty. We now have two distinct levels to reference in our analysis on a daily closing price basis: 2390 and 2360. A close above or below either of these levels could provide a clearer indication of market direction.
OANDA:XAUUSDShort
by Mihai_Iacob
6
GbpUsd- Correction could offer us a good sell entryIn my post from last week regarding FX:GBPUSD , I mentioned my anticipation of a drop below the 1.25 support zone, along with an expectation for a continuation of the downtrend by 500 pips. These expectations remain unchanged. Moreover, with recent inflation data released from the UK surpassing expectations, there's a possibility of a relief rally being triggered. I plan to capitalize on this correction by initiating short trades, primarily focusing on levels above 1.25. A deviation from this outlook would occur with a daily close above 1.2650. As previously stated, my medium-term target for GBPUSD is the 1.2 zone.
Short
by Mihai_Iacob
3
XauUsd could drop 500 once moreSince Friday's blow-off top, OANDA:XAUUSD has exhibited strong volatility. Initially, the price tested the crucial 2325 support level, followed by a robust reversal to retest the 2400 mark. Although the long-term outlook remains bullish, I believe we are currently entering a corrective phase. Given the heightened volatility and the lofty levels at which Gold is trading, there may be promising selling opportunities in the near future. Technically, the recent 700-pip upward movement from the 2325 support appears corrective, as the price exhibits overlapping rather than impulsive behavior. Moreover, the 2400 level is likely to attract significant selling pressure. In summary, rallies should be viewed as selling opportunities, with a target at 2325 for a retest of support. Traders should also monitor the short-term support zone between 2375 and 2380. A breach of this support could signal that yesterday's peak marks the conclusion of this correction.
OANDA:XAUUSDShort
by Mihai_Iacob
6
UsdJpy is pressing and pressing and pressing. 155 next?Since March 20th, when FX:USDJPY once again reached the 151.50 zone, marking a decades-high for this pair, the price has been fluctuating within an extremely tight range. However, upon closer observation of the price action, it becomes evident that USDJPY is pressing against this resistance level, with dips being consistently bought. Even during Friday's NFP release, when USD was being sold, USDJPY experienced a quick reversal. These signs indicate a potential upward breakout, with 155 being the next target in such a scenario. I maintain a bullish outlook on this pair as long as the price remains above 150, and in my opinion, buying dips is the preferred strategy.
Long
by Mihai_Iacob
1
XauUsd- New leg down possible even in light of geopoliticalsFriday proved to be a challenging day for OANDA:XAUUSD traders, marked by extreme volatility in the market. Following an initial surge to a new all-time high, Gold experienced a drastic drop of 1000 pips, settling near the day's lowest point. Adding to the uncertainty, tensions in the Middle East escalated... Despite these events, a careful examination of the chart suggests a strong possibility of another significant downturn, potentially dipping below the 2300 mark. While the Asian Session saw a brief spike above the 2360 resistance zone at the start of the week, this level has thus far held steady. Furthermore, a short-term analysis of the 15-minute chart reveals the formation of a symmetrical triangle, typically indicating a continuation pattern. Considering these factors, while there remains a chance of another spike towards the 2380 zone, my outlook for the upcoming days remains consistent with my analysis from Saturday. I anticipate a further decline, targeting the 2280 support level.
OANDA:XAUUSDShort
by Mihai_Iacob
5