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Trading minute impulseOn the minute timeframe of XAUUSD at the moment we have the completion of the impulse formation. If the price continues to move in the direction of the impulse and the support zones do not allow it to overcome the base of the impulse, it may reach the targets 1 and 2. If the price fails to advance in the direction of the momentum and overcomes the support zone at the base of the momentum, it is very likely that the price will move sideways or against the direction of the momentum.
FXOPEN:XAUUSDLong
by syomking76418
Alikze »» GALA | Wave 3 or C scenario - 8H🔍 Technical analysis: Wave 3 or 3 scenario in the ascending channel - In the 8H frame, it is moving in an ascending channel. - So far, a movement cycle AB=CD within the ascending channel has grown to the size of 0.78 fibo. - After that, it had a corrective cycle up to the green box range, which has met with demand again. - Currently, it is in the middle of the channel, which can continue its growth by breaking it up to the limit of the first supply area (the ceiling of the channel). 💎 After that, if it has a soft and zigzag correction, it can continue its growth with a bullback to the broken structure (minor ceiling) in the ascending channel until the second supply area as wide as the first channel. ⚠️Note: In addition, if the current price enters the corrective phase and touches the Invalidation LVL area, the bullish scenario is invalidated and must be reviewed and updated again.⚠️ »»»«««»»»«««»»»««« 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. Best Regards,❤️ Alikze. »»»«««»»»«««»»»««« BINANCE:GALAUSDT
Long
by alikze
After Record Highs, Is Gold Primed for a Short-Term Correction?Since Tuesday, after OANDA:XAUUSD completed a brief correction following the previous week’s rally, the price has surged approximately 1000 pips from its low to high. During the Asian session last night, Gold hit yet another all-time high, though it’s now experiencing a minor pullback. While the overall trend remains strongly bullish, a correction from this level is not out of the question. The price could potentially retest the support zone formed by the previous all-time high around 2685-2690. A confirmation of this correction would come if the price clears Friday’s close, and in that case, the recent ATH could act as short-term resistance. Aggressive traders may look to take advantage of this correction, while swing traders might prefer to wait for the correction to complete and then rejoin the dominant uptrend at more favorable prices.
OANDA:XAUUSD
by Mihai_Iacob
8
GOLD is fully supported with a low data trading weekDue to escalating tensions in the Middle East, uncertainty about the US election and expectations of looser monetary policy, OANDA:XAUUSD surged up and created new all-time record highs. The market will still focus on increasing geopolitical tensions after Israel announced the killing of Hamas leader Yahya Sinwar. Sinwar was the mastermind of the Hamas attack on southern Israel that sparked the year-long Gaza war. Prime Minister Benjamin Netanyahu said Israel will continue to fight until all hostages captured by Hamas last year are released, while US President Joe Biden said it is time for the war to end. During times of geopolitical and economic instability, investors often turn to gold as a safe haven asset. Rising geopolitical tensions in the Middle East have prompted investors to seek safe-haven assets such as gold, due to risk aversion and concerns about instability in global markets. On the monetary policy front, the European Central Bank could cut interest rates again in December. According to CME Group's FedWatch Tool, traders also see a 90.4% chance of a Fed rate cut. interest rate in November. Since gold does not yield interest, a rate cut could reduce the opportunity cost of investing in gold and increase its appeal. This week, the People's Bank of China will announce its decision on interest rates. In September this year, the People's Bank of China kept the one-year prime lending rate (LPR) and five-year LPR unchanged at 3.35% and 3.85%, respectively. The larger LPR cut should be seen as an impetus to push gold prices even higher early next week. S&P Global will release the preliminary value of the US Purchasing Managers' Index (PMI) for October next Thursday. If the PMI unexpectedly falls below 50, indicating a contraction in private sector business activity, the short-term reaction could pressure the dollar and push up gold prices. On the other hand, a positive surprise could support the dollar. The market reaction to the PMI data was not large enough to have a lasting impact on gold prices. In general, this week will be a week with quite a bit of economic data, but with the current basic picture, gold will still be focused on due to escalating geopolitical developments. Readers also need to pay attention. add other threats of conflict from China - Taiwan, North Korea - South Korea,... in addition to the Middle East region, which already has too many potential risks. Economic data to watch out for this week Monday: IMF meeting begins Tuesday: BRICS summit begins in Russia Wednesday: Bank of Canada monetary policy meeting, US existing home sales Thursday: Weekly unemployment claims; S&P Global Manufacturing and Services PMI Survey; US new home sales Friday: US durable goods orders Analysis of technical prospects for OANDA:XAUUSD As we have sent to readers throughout the publications, the gold price still has an overall bullish technical structure on the daily chart. Currently, gold closed above the 0.786% Fibonacci extension level and this is necessary for it to continue towards the next target of about 2,741 USD price point of the 1% Fibonacci level. With the trend from the price channel in the short, medium and long term, gold is in an upward trend, combined with a strong upward momentum when the Relative Strength Index (RSI) points up with a significant slope. There is no sign of a break from the overbought level, a signal that the bullish momentum continues ahead. However, the level of 2,741USD is also the closest current resistance for expectations of a short-term correction because it is also the confluence position of the edge on the price channel with the 1% Fibonacci extension level, correction price drops. Corrections are not considered trends, they only have a short-term impact. Finally, the main technical outlook for gold prices is bullish, the notable points will be listed again as follows. Support: 2,711 – 2,700 – 2,688USD Resistance: 2,741USD SELL XAUUSD PRICE 2741 - 2739⚡️ ↠↠ Stoploss 2745 →Take Profit 1 2634 ↨ →Take Profit 2 2629 BUY XAUUSD PRICE 2699 - 2701⚡️ ↠↠ Stoploss 2695 →Take Profit 1 2706 ↨ →Take Profit 2 2711
OANDA:XAUUSDLong
by Xayah_trading
3
NASDAQ can explode to 25000 if the 1D MA50 keeps supporting.Nasdaq (NDX) appears to be coming off yet another short-term consolidation (ellipse pattern), the kind of accumulation it is accustomed to while trading within its 2-year Channel Up. As we have established in previous analyses, the index is on its 3rd Bullish Leg of this pattern following the August 05 bottom (Higher Low) on the 1D MA200 (orange trend-line). When the same consolidation took place in the previous two Bullish Legs, the index remained supported by the 1D MA50 (blue trend-line) and went off to complete a rise of +49.50% and +47.80% respectively. The 1D RSI fractals of all those sequences, also display amazing symmetry. If the rallies are on a decelerating rate, we can expect the next one to hit at least 25000 (+45.50% from the Aug bottom). As you can see, the Higher Highs of the Channel Up tend to form after the Sine Wave tops, while the bottoms are exactly on point. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:US100Long
by TradingShot
1
KASUSD Can the 1D Death Cross really save the day???KASPA (KASUSD) has been trading within a Falling Wedge pattern since the July 31 top and is almost on the Higher Lows trend-line that started on the January 23 2024 Low. The key development of the day however, is the formation of the 1D Death Cross, a technically bearish pattern. Last time it was formed though (May 16), it provided the basis for a strong rally that made a new High. Interestingly enough, the price was also coming off a Falling Wedge at the time that successfully broke above its top. In the meantime the 1D RSI was after a Bullish Divergence, essentially a bottoming process. In fact, it was the same formation of that the Falling Wedge before it (November - December 2023) had, that also broke aggressively above its top. As a result, we have a potential triple bullish signal and as long as the Higher Lows hold, there are high probabilities of seeing the price break above the Wedge and target at least the previous High at 0.20800. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:KASUSDLong
by TradingShot
2
NETFLIX Earnings is setting it up for $840.Netflix (NFLX) is already one of the big winners of the earnings season as it announced Q3 results that exceeded expectations and saw the price up by more than +11.00% on Friday. Even technically that is a big win as the rebound came from a Thursday test of the 1D MA50 (blue trend-line), the first in 2 months (since August 14). The stock has been trading within a Channel Up for a whole year (since the October 18 2023 Low) and now has the perfect fundamental excuse to aim higher. The 1D RSI shows a similar pattern so all previous bottoms with the Channel Up (Aug 05 2024, April 22 2024, January 17 2024, October 18 2023) so either a 3.0 Fibonacci extension or a +25% rise is expected. This time both happen to be just over $840.00, so we can claim that this is a reasonable target to aim for during this Bullish Leg. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NASDAQ:NFLXLong
by TradingShot
Gold Uptrend - October 21, 2024A recent Kitco News survey shows a broad sense of optimism about the gold price outlook. The majority of experts (94%) predict further price gains, while only one analyst (6%) sees no significant change. However, gold’s ability to maintain its value may be challenged by concerns about the US dollar, which could see demand revive as the ‘Trump rally’ is revived. Additionally, with no major US economic data due for release on Monday, the focus will remain on risk sentiment and speeches from several Fed policymakers to provide fresh impetus to gold prices. When it comes to trading strategies for the start of this week, the priority will be given to buying in view of the Fibonacci extension on the bullish channel as mentioned on D1.
OANDA:XAUUSDLong
by ConanTradingFX
Can EURUSD continue to fall?EUR/USD is currently hovering around 1.0860 after an earlier rally, with stability in the Asian session. Notably, concerns about the possibility of a Federal Reserve rate cut in November have been dismissed, as recent data suggests that the US economy is still recovering. On the 1D chart, we can clearly see that after the price fell out of the uptrend channel and approached the support level of 1.0800, EUR/USD has reversed again. Currently, the price is hovering around 1.0865 and interacting with the 34 and 89 EMAs, combined with resistance at 1.0960. These factors suggest that the downtrend is still in place. My personal prediction is that EUR/USD is likely to continue falling and may hit a lower low around 1.0700 in the near term. Now the realization phase is taking shape we are waiting for confirmation with the prospect of strengthening the purpose.
Short
by ConanTradingFX
XAUUSD quick pull-back is in order.Gold (XAUUSD) couldn't have gone better on our last call (October 14, see chart below) as after the expected minor pull-back to the 4H MA50 (blue trend-line), it rebounded and is on its way to our 2750 Target: As however the 4H and 1D RSI got overbought, we expect a short-term pull-back. Especially the 4H RSI, as you see on this chart, is forming a pattern similar to the September 13 short-term peak sequence that was rejected back below the 0.236 Fibonacci retracement level but was contained/ supported above the 4H MA50. As a result, we can take a quick sell and target 2705 (0.236 Fib). Notice though that the trend will remain bullish medium-term as long as the 4H MA50 holds, in case you don't want to engage into riskier short-term trades such as this one. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSDShort
by TradingShot
1
Lingrid | EURUSD shows BEARISH MomentumFX:EURUSD bounced off the resistance level and has been in a bearish trend since the beginning of October, showing three consecutive bearish weeks. It seems probable that the price will pull back toward the resistance zone before continuing its downward trajectory. If the price rolls back against the main trend, it could lead to a classic correction, followed by trend continuation. I expect the market to build a complex pullback toward the resistance area around 1.0900 and the downward trendline, after which we could see a sell-off as the momentum continues to favor the bears. My goal is the support level of around 1.07920 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Short
by Lingrid
6