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GbpAud- False break could lead to a dropLast week, GbpAud broke above the 1.9170-1.9200 resistance zone and reached a high of 1.94. However, the pair couldn't hold gains and dropped again under this resistance. Usually, false breaks lead to strong reversals and drop/rise to the next important level and, in this case, the next support at around 1.86. That being said, traders should look to sell around 1.92, and considering a stop loss above the recent high, a 1:3 risk: reward could be achieved.
Short
by Mihai_Iacob
8
UsdChf- Important break. Don't try to catch a falling knife!!!UsdChf is in a downtrend, there is no question about this and, recently, after a small retrace to the upside contained in a bear flag, the pair dropped again to support. A break of this support followed 2 days ago and a huge drop yesterday. At this moment anything is possible and considering that usually UsdChf acts inverse as EurUsd, the fact that the latter is near 1.12 very important resistance could trigger a correction here also. But, and there is a VERY BIG BUT... In recent years, although UsdChf is the major and EurChf is the cross, fundamental reasons made EurChf the major and UsdChf the cross and, looking at the EurChf chart we see also here an important breakdown, and here also we could see a continuation to the downside: In conclusion: 1. UsdChf- Try to sell rallies and a good zone for this could be towards 0.88 2. EurChf- Recently broken support should act as resistance and traders could look for selling opportunities in that zone.
Short
by Mihai_Iacob
9
USDJPY | H1 | UpdateUSDJPY update, looking at USDJPY now based on my initial analysis we can see that the USDJPY tanked as per the initial forecast, there was some volatility during the course of the week due to fundamental events surrounding the USD which also acted as a catalyst towards increasing the overall momentum as we would’ve noticed with today’s NFP announcement. But looking back we can take note that USDJPY created a short term trading range between 144.19x and 144.68x before breaking out of our minor support level at 144.19x then came back to retest that level and confirm it as our new resistance after the announcement of the US ADP Employment Change yesterday before tumbling further down. Today’s NFP announcement acted as a further catalyst pushing USDJPY to break through our initial target and support at 142.8xx & 142.6xx now we’re looking forward to it pushing further down to 141.2xx
Short
by mosa_moshka
tomiNet | TOMI (37X in 5 months)The price of tomiNet is $6 today with a 24hour trading volume of 21 million dollar. This represents a 15% price increase in the last 24 hours and a 69% price increase in the past 7 days. tomi is a project engaged in the development of a decentralized alternative internet network to be used as the infrastructure platform for the Web3. Governable, manageable, easy to use and unblockable. the price jumped 100% in one month and its 3700% in five month which shows if you know how to find crypto gems you always got edge in any situations
by moonypto
MKR Maker Retracement to the Support after Overbought AreaIf you haven`t bought MKR before the crypto rally: Or sold it on the way down: Then you should know that the Crypto MAKER has recently experienced a period of being overbought, indicating a potential need for a retracement or pullback in the near term. Overbought conditions occur when the price of an asset has risen too quickly and may be due for a temporary correction. Considering the current situation, it is reasonable to anticipate a retracement in MAKER's price, with a potential target of the support level around $638. Looking forward to read your opinion about it.
Short
by TopgOptions
Gold- Bottom is in (most probably)Yesterday, as I expected, Gold reversed from 1940 support and after passing above median resistance (old support) at 1955 managed to close the trading day near the top of the trading range, negating all the drop from 2 days ago. At this moment there is a high probability of a bottom being in place and, as explained in yesterday's analysis, buy dips should be the appropriate strategy. Looking at the posted h4 chart we could see very clearly the 1955 now again support, and this should be the zone where we should look to buy. Also, on a daily time frame, a double bottom could form, with its neckline clearly drawn in 1980. In conclusion, buying dips under 1960 with negation under recent low is my strategy. The first level to watch for the target is the 1980 zone, but, as explained, a break here would put the double bottom in play and the measured target for it is 2020.
OANDA:XAUUSDLong
by Mihai_Iacob
42
XAUUSD Outlook 22/5/23. Huge reaction from feb high!Good evening gold gang .. hope you have all had a nice relaxing weekend and are ready to rumble once again. Gold reacted beautifully from the feb high level and shot back up. This reaction does not confirm the downtrend just yet as there was no close below the level discussed last week. Interesting!! Dollar is still moving up but will require a small pullback at some point, so some short term bullish movements should happen on gold in the meantime. For this reason im placing my buys above the much respected 93 level marked on the chart. Sells just below the recent traffic and should be nice to drop to fill the imbalance to the left hand side. There is a take profit area there on the sells where heavy traffic was in the past. No news tomorrow so it might be a small volume day .. much like most mondays recently .. so exercise patience guys. Other than that, have a nice rest of your day or evening and ill see you in the morning for the london open. Please drop a like on your way out and make sure to follow along for constant XAUUSD updates tommyXAU
OANDA:XAUUSD
by tommyXAU
3
GbpJpy- Sell on confirmationSince the recent low at 158 at the end of March, GbpJpy has risen almost 1500 pips to a high above 172. However, starting with May, the pair has entered a range trading phase with resistance at 172.50 and support at 168. At this moment GbpJpy is trading near resistance and is in a consolidation. Short-term support lies at 171.50 and a break under this support could lead to further losses and towards to lower boundary of the range. Aggressive traders could use this break as a signal for opening short trades, keeping in mind that they trade against the trend.
by Mihai_Iacob
17
TGT Target Corporation Options Ahead Of EarningsIf you haven`t sold TGT here: or bought it here: Now Analyzing the options chain of TGT Target Corporation prior to the earnings report this week, I would consider purchasing the 160usd strike price Calls with an expiration date of 2023-5-19, for a premium of approximately $5.75 If these options prove to be profitable prior to the earnings release, I would sell at least half of them. Looking forward to read your opinion about it.
NYSE:TGTLong
by TopgOptions
11
XAUUSD 2/5/23 Outlook .. big Wednesday?Good evening gold gang! .. hope you had a good day on the charts. The forecasted buys were there around half 1 gmt and ran straight to target .. congrats anyone who jumped in there. Price then proceeded to drop straight back in to the range for the rest of the day doing nothing much .. which is typical of a heavy news week. Wednesday is the FOMC meeting and this could be a huge catalyst for xauusd to either move up to target the 2000s again or down to the 1970s depending on what impact it has on the dollar. This should rid us of this range. Buys and sells are on the chart and ill update you as the day progresses tomorrow .. but in all honestly im not expecting much. Ill be here if you have any questions .. please like and follow along for more xauusd updates and trade ideas An off topic thing while i got you that had me thinking today .. i got a comment earlier saying i won't get anywhere using this breakout strategy and will likely blow my account .. it made me think that why do people think that their strategy is better than mine or vice versa? All strategies work .. they're all individual to the person .. and if you have enough proven data, then what is the problem. Anyways my trade won again today and that guy is looking like a toilet. The point is, focus on your self and perfect your craft. Don't focus on the next social media lambo driver .. trading is possible for everyone if you are disciplined. Be excellent to each other - bill and ted TommyXAU
OANDA:XAUUSD
by tommyXAU
5
Gold- Range is tightening, support is rising. Up break next?In my yesterday's comment, I said that is better to wait for clarification in Gold's case and it looks like we are closer and closer to a resolution. Looking at price action since Monday we observe dips are bought and although we have reversals from above 2k, buyers are entering the market higher and higher thus rising the support level. This, in my book is pressing up, and there are great chances of breaking resistance. As explained yesterday, a break above 2010 would expose 2050 recent high but with the price gaining momentum, I wouldn't be surprised to see it making a new ATH.
OANDA:XAUUSD
by Mihai_Iacob
24
BITCOIN : Detailed Technical analysis BINANCE:BTCUSDT Bitcoin breakout from it's major resistance , previous neckline now was acting as resistance at 28700 -29000 area after more than 10-12 test of breaking of resistance , finally trapping seller's and market shoot up next resistance at 40k area , this will make range from 30k-40k for next 2 months , as my prediction say market can hit resistance And possible drop back to retest at 28700 , big gap to fill as well at 28700 area For now try to buy dip's , market in bullish trend
Long
by INVESTRONE
1