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GBP/USD: Key Levels and Market UncertaintyThe analysis of the GBP/USD pair indicates a context of uncertainty, with the British pound (GBP) seeking support from relatively subdued demand for the US dollar (USD) but lacking clear bullish pressure. The GBP/USD pair is influenced by various macroeconomic factors, including expectations of further easing by the Bank of England (BoE) and key economic data from both the United States and the United Kingdom. Following the release of the minutes from the Federal Reserve’s (Fed) September meeting, the dollar gained strength. The minutes revealed that most FOMC members supported a 50 basis point (bps) rate cut, but with caution regarding the future pace of easing, sending a more "hawkish" signal than expected and dampening the prospects for immediate further easing. The pound remains under pressure, as the market expects the BoE to continue with a more accommodative policy, which limits the potential appreciation of the GBP. However, UK economic data could provide short-term support if it surprises to the upside. From a technical perspective, GBP/USD has some key static support levels: 1.3050, 1.3000 (a psychologically important round level), and 1.2940, which could act as deeper support. On the resistance side, 1.3100 corresponds to the 78.6% Fibonacci retracement of the latest uptrend and could be a barrier for bulls, with the next resistance at 1.3170, located at the 61.8% Fibonacci retracement, representing the next hurdle in the event of a trend reversal.
Long
by Forex48_TradingAcademy
1
BITCOIN IS GOING UP! TA + TRADE PLAN BY BFTechnical Analysis of Bitcoin (BTC) on the Chart by Blaž Fabjan Falling Wedge Continuation Pattern The falling wedge is a bullish continuation pattern, often indicating a potential upward breakout after a period of consolidation. Resistance and Support Lines: The chart shows a clear resistance line sloping downward and a support line also trending downward. The price is approaching the apex of the wedge, where a breakout is likely imminent. Indicators Analysis: VMC Cipher B (Market Cipher Indicator): The divergences on the VMC Cipher B show a series of green dots, which are often used to indicate potential long entry points. The momentum appears to be turning positive, with the indicator suggesting possible bullish divergence. RSI (Relative Strength Index): The current RSI is at 39.81, which indicates a moderately oversold condition. An RSI below 40 often suggests that the market is near the bottom, and a potential reversal to the upside is likely. Stochastic Oscillator: The Stochastic Oscillator shows 43.44 and 47.50 (K and D lines), hovering near the oversold region but not yet fully bottomed out. A crossover or upward movement from these levels would provide additional confirmation of a bullish reversal. HMA+ Histogram: The HMA (Hull Moving Average) histogram shows recent red bars, indicating negative momentum, but it appears to be narrowing, suggesting that the selling pressure is weakening. A transition from red to green bars would confirm a shift toward bullish momentum. Potential Breakout Scenario: Given the falling wedge pattern and the technical indicators approaching oversold conditions, there is a strong likelihood of a bullish breakout. The volume is not provided in the chart, but price action suggests decreasing volatility before a potential breakout. The breakout direction is likely to be upwards, targeting the $65,000 to $67,500 resistance zone initially. Trading Plan by Blaž Fabjan: Entry Strategy: Wait for Confirmation of Breakout: Enter a long position once the price breaks above the resistance of the falling wedge pattern (around $61,500-$62,000). RSI needs to cross above 45 to confirm momentum is shifting to the upside. Ensure that the VMC Cipher B shows green dots and the Stochastic Oscillator shows a bullish crossover before entering the trade. Stop-Loss Strategy: Place a stop-loss just below the support line of the wedge, which would be approximately around $59,000, to protect against a false breakout or further downside. Profit Targets: First Profit Target: $65,000 (previous swing high and a significant psychological level). Second Profit Target: $67,500 (the next key resistance level after the breakout). Risk-Reward Ratio: Aim for a minimum 2:1 risk-to-reward ratio. For an entry near $62,000 with a stop loss at $59,000, the first target at $65,000 gives a decent risk-to-reward ratio, with the potential for higher gains if the price continues to climb. Trade Management: Trailing Stop: Once the price reaches the first target, move the stop-loss to breakeven (entry point) to lock in profits and manage risk. Monitor the RSI and VMC Cipher for signs of exhaustion in momentum once the price nears the second target. Alternative Scenario: If the price fails to break above the wedge and breaks below the support line, consider reversing the position or waiting for further confirmation of a bearish trend before shorting. By following my plan, traders can capitalize on the potential upward breakout from this falling wedge continuation pattern while managing their risk effectively.
CRYPTO:BTCUSDLong
by elfabiiani
1
Lingrid | GOLD formed A-B-C RetracementAfter consolidating for more than a week, OANDA:XAUUSD broken through the consolidation zone and also broke the lows of the past two weeks, where I believe there is resting liquidity below. On the 4H timeframe we can see that market formed ABC pullback from the ATH level. Following the drop the market has tested the downward trendline, which marks the lower border of the bullish flag pattern on the 4H timeframe. This suggests that the price may first move upward to break upward above the resistance at 2620 and higher since it created a double bottom. I anticipate a bounce off the psychological level, followed by a possible retest of the bottom of the consolidation zone. My target is resistance at 2637 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
OANDA:XAUUSDLong
by Lingrid
27
XAUUSD: Regaining the psychological threshold of 2650Dear friends, XAUUSD continues to gain some recovery momentum as it has reclaimed 2600, but the main trend and the long-term trend are still moving sideways. Currently, the price is approaching the psychological level of 2650 and at the same time is approaching the limits of the Bollinger Bands. A downside correction is expected when the pair reaches the level, the targets are the support levels of 2625 and 2605. And you, how do you think XAUUSD will move on the last trading day of the week!
OANDA:XAUUSDShort
by ConanTradingFX
GBPUSD: The sellers still have the upper hand.Currently, GBPUSD is moving around 1.305 at the beginning of the weekend trading session with the weakness continuing since the beginning of the week. Although there is a recovery, it is only short-term and is a trend correction. With a strong reversal from the EMA 34, 89, this currency pair is still heavily influenced by the technical selling sentiment. In the short term, we expect to continue to prioritize selling with the profit-taking target right at the limit of the downtrend line marked on the chart.
Short
by Bentradegold
EURUSD: Prolonged bearish momentum.The September Fed meeting minutes showed a dovish stance on monetary policy, pushing the USD higher and forcing EUR/USD lower. In response to the above information, the price slid to the support level of 1.0950 and the EMA 34 - 89 is maintaining a steady downtrend, indicating that the sellers are still dominant. That is why I set my target at the round level of 1.0800, which matches the lower boundary as indicated on the chart. What do you think about this view?
Short
by ConanTradingFX
short term trading strategy for goldWorld gold prices rose again to around $2,640/ounce. High inflation data may cause the US Federal Reserve (Fed) to cut interest rates at a low level at its upcoming meeting in November. According to the CME FedWatch tool, the market is expecting an 84.9% chance that the Fed will cut 25 basis points at its November meeting. Peter A. Grant, Vice President and Senior Metals Strategist at Zaner Metals, predicts that gold prices may soon reach $2,700/ounce and even $3,000/ounce as safe-haven demand continues to increase. Some other experts also expect gold prices to continue to increase in the near future due to global economic and geopolitical instability. Despite the pressure from US interest rate fluctuations and geopolitical tensions, precious metals are still a safe choice for long-term investors. Swiss bank UBS predicts that the ongoing easing of monetary policy, not only by the Fed but also by other central banks globally, will continue to support gold prices.
TVC:GOLD
by NicoTradingMaster
EURUSD should buy or sell?Hello everyone! EURUSD is currently following my previous prediction as it is in a deep decline, hovering at 1.098 and breaking out of the support level of 1.101. With 3 deep declines and breaking out of 3 support levels, sellers continue to profit. Therefore, I expect it to continue moving down at least to the lower price channel, as indicated by the flat EMA for shorting. Happy trading and don't forget to share your opinions in the comments section!
Short
by ConanTradingFX
BITCOIN below the 60k again! Is this alarming??Bitcoin (BTCUSD) broke today below the $60000 market again for the first time since September 18. The first headlines are already hitting the market calling for more downside. We highly doubt that as no only has the priced formed the first Higher High on September 27 in 6 months, but more importantly the uptrend since the August 05 bottom is supported by a Higher Lows trend-line. Also, the 1D MA50 (blue trend-line) may have been broken, but as long as the price holds the 1W MA50 (red trend-line), which has held twice already on August 05 and September 06, the chances of a break-out above the 7-month Lower Highs trend-line are high. In fact, the pattern since the August 05 bottom appears to be an Inverse Head and Shoulders (IH&S). The standard technical target on such occasions is the 2.0 Fibonacci extension, which gives us a $80000 price tag. As long as the 1W MA50 holds, this is the most likely scenario in our opinion. ------------------------------------------------------------------------------- ** 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:BTCUSDLong
by TradingShot
4
Alikze »» XAUUSD| Descending channel - 1H🔍 Technical analysis: Descending channel - 1H - It is moving in a descending channel in the 1H time frame. - It is shaded in the area of ​​the bottom of the downward channel that there is an OB in the liquidity area. - There is an FVG gap in the 30MIN time frame. - Therefore, it can have a correction by filling the gap up to the liquidity area. In the FVG area, in case of selling pressure and confirmation, it can have a return to the liquidity area and after that it will grow again up to the channel ceiling. »»«««»»»«««»»»««« 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. »»»«««»»»«««»»»««« OANDA:XAUUSD
OANDA:XAUUSDShort
by alikze
Alikze »» XAUUSD| Descending channel - 1H🔍 Technical analysis: Descending channel - 1H - It is moving in a descending channel in the 1H time frame. - It is shaded in the area of ​​the bottom of the downward channel that there is an OB in the liquidity area. - There is an FVG gap in the 30MIN time frame. - Therefore, it can have a correction by filling the gap up to the liquidity area. In the FVG area, in case of selling pressure and confirmation, it can have a return to the liquidity area and after that it will grow again up to the channel ceiling. »»«««»»»«««»»»««« 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. »»»«««»»»«««»»»««« OANDA:XAUUSD
OANDA:XAUUSDShort
by alikze
Lingrid | EURUSD short Opportunity at Psychological LevelThe market broke through the round number at 1.1000 following the negative NFP for FX:EURUSD . This breakout also resulted in the price falling below the September low, and there is a possibility it may retest the next round number at 1.0900. Examining the weekly candle, it's clear that the market has gained bearish momentum. Furthermore, if we zoom out, we can observe that historically, the price has bounced off this level multiple times. If we get a rejection at this resistance zone again, it could signal the potential for further bearish movement in the market. Overall, there seems to be a bearish outlook as long as the price remains below the 1.1000 level. My target is support level at 1.09050 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
5
Gilead Sciences (GILD): Pattern Still Intact—What’s the Plan?Let’s quickly review our open position in $GILD. We’ve managed to turn the whole chart around, and I hope everyone who bought in had the strength to sit it out. It was a close call with the stop loss, but now we’re up significantly, and we’ve moved our stop loss closer to $65.46. So far, we’re up 17%, and we don’t want to dictate when to take profits. If you’re in, do your own research and take profits whenever you feel comfortable—it's all up to you 👍. If you take a closer look, you’ll see that NASDAQ:GILD has been following a nice upward pattern: a surge, then three candles down, then another surge. I’m not sure how long this pattern will hold, but as long as we don’t retrace too much, we should be fine. I also like that we’re respecting all the key levels. The RSI is about to be overbought, so we might see another three candles down, but this time it could be a deeper pullback. We’ll see how it plays out, but we’re very pleased with this swing trade so far. Congratulations to everyone who’s been riding this wave 🍾.
NASDAQ:GILDLong
by freeguy_by_wmc
2