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USOIL: Bearish channel with a consolidation phase before $70!The prices of oil appear very negative as they record losses for the fourth consecutive day. Markets are selling crude oil futures contracts due to the current division within OPEC+ on how to proceed, with the prospect of a lack of severe measures to support oil prices. The postponement of the OPEC+ meeting to a virtual mode on Thursday highlights a deep division within the organization, signaling an unfavorable situation for oil prices, which require a united front to maintain current levels. In addition to Thursday's OPEC+ meeting, the COP28 meeting will begin in Dubai. Several market participants have expressed their forecasts on OPEC+'s decisions. The consensus is that even if OPEC+ extends the current production cuts, it is unlikely to lead to a strong rally. Oil prices are poised for further declines as there are no measures in place against the considered bearish factors. On a daily basis, the price has been inside a bearish channel for days and continues to descend. Currently, it is positioned between a supply and demand zone very close to each other, which could create a period of stagnation or consolidation. The sentiment remains bearish, and personally, I expect the price to head towards the $70.00 per barrel area. Greetings from Gaia, wishing everyone a good trading day.
TVC:USOILShort
by UnknownUnicorn67331274
3
GBP/USD retraces to 1.18 on a bearish channel.This passage provides a comprehensive overview of the GBP/USD currency pair's recent performance, along with relevant economic indicators and factors influencing the market. Let's break down the key points: GDP Data from the UK: The UK's Gross Domestic Product (GDP) expanded at an annual rate of 0.6% in Q3, surpassing expectations. Despite this positive data, GBP/USD continued to decline. Technical Analysis: Various technical indicators, including an ascending trend line, Fibonacci retracement levels, and Simple Moving Averages (SMA), are mentioned to highlight key support and resistance levels. Strong support is identified at 1.2200, with additional levels at 1.2140 and 1.2100 if the pair falls below the support. On the upside, resistance levels are noted at 1.2250, 1.2275, and 1.2300. Current GBP/USD Situation: GBP/USD struggled to rebound, trading slightly above 1.2200 after four consecutive days of negative performance. Additional UK Economic Data: Industrial Production stagnated, Manufacturing Production increased slightly, and Total Business Investment declined in the third quarter. However, these mixed macroeconomic data did not significantly impact GBP/USD. US Dollar Strength: The US Dollar strengthened against other currencies following comments from Federal Reserve Chairman Jerome Powell. Powell expressed uncertainty about achieving a sufficiently restrictive stance to bring inflation down to the 2% target. Market Expectations: The CME Group FedWatch Tool indicates a 90% chance that the Federal Reserve will maintain its current policy. If other policymakers adopt a similar tone, the USD could strengthen further. Market Sentiment: US stock index futures show little change on the day, and a positive shift in risk sentiment could limit USD gains in the American session. This information provides a comprehensive picture of the factors influencing the GBP/USD pair, combining technical analysis, economic indicators, and central bank statements to give readers a broader context for understanding the currency pair's movements.
Short
by Forex48_TradingAcademy
4
XAUUSD is ready to touch 2020!Gold prices have continued their upward trajectory, reaching nearly $1,990 on Friday, a level not seen in five months. The XAU/USD pair has benefited from the growing interest in safe havens, with investors actively seeking to mitigate their exposure to risk. Furthermore, the decline in U.S. yields has provided additional support to the price of gold. The precious metal has embarked on a triumphant three-day trend and is expected to reach a five-month peak of around $1,987, with the main resistance level positioned at $2,000. Both the 20-day and 50-day Exponential Moving Averages (EMAs) have surpassed the 200-day EMA, indicating a strengthened bullish sentiment. The Relative Strength Index (RSI) has also crossed the 60.00 threshold, suggesting potential upside for gold. These price fluctuations have been driven by escalating tensions in the Middle East and a speech by Federal Reserve Chair Jerome Powell endorsing a policy of stable interest rates. The demand for gold has increased as Israeli forces prepared to enter the Gaza Strip, raising concerns about potential regional conflicts in the Middle East. Powell and other Federal Reserve officials have provided neutral guidance on interest rates, acknowledging the influence of rising U.S. Treasury yields on spending and investment. In short, I expect a small retracement to the 1960/1970 area before identifying a long entry with a target of 2020, and then looking for a short with a target of 1950. Let me know what you think. Greetings from Nicola, the CEO of Forex48 Trading Academy.
OANDA:XAUUSDLong
by Forex48_TradingAcademy
1
GBP/USD Ready to Restart with NFP?The GBP/USD exchange rate is showing a slight decline around 1.2180 during the Asian session on Friday, indicating a retracement from recent gains. However, the US Dollar (USD) is correcting following the decrease in US bond yields, providing upward support for the exchange rate. A key support level is at 1.2100, represented by the 20-period Simple Moving Average and the upper limit of a previously broken descending regression channel. If 1,2100 remains intact, buyers may remain interested. The next resistance levels are expected at 1.2160, 1.2200, and 1.2250. However, if 1,2100 were to give way, sellers could push the exchange rate towards 1.2060 and 1.2000. During the Asian session on Thursday, GBP/USD surpassed 1,2150 but later lost momentum, yet managed to stabilize above 1,2100 during the European session. Improved risk sentiment made it challenging for the USD to find demand in the latter half of Wednesday, contributing to the recovery of GBP/USD. Disappointing US labor market data showed a modest increase in private sector employment in September, negatively impacting the USD. The UK's FTSE 100 index saw a modest growth on Thursday, while US stock index futures indicated a mixed risk sentiment. The USD's downward correction is likely to remain limited unless major Wall Street indexes open higher and build on Wednesday's gains. Market participants will closely monitor the weekly Initial Jobless Claims data ahead of Friday's September jobs report. This week's employment-related data failed to provide a clear picture of labor market conditions. The sharp increase in JOLTS job openings highlighted strong labor demand, but ADP's report revealed a loss of momentum in private sector hiring. Hence, an Initial Jobless Claims reading below 200,000 could boost the USD, while a significant increase in first-time applications for unemployment benefits could have a negative impact on the USD's valuation. A brief reflection on the dollar and the pound before NFP: currently, my short-term view remains short until the demand zone at the 1.2150 level, where I expect a bounce for a new long position. Let me know what you think; happy trading to all from Nicola, the CEO of Forex48 Trading Academy.
Long
by Forex48_TradingAcademy
2
GBPAUD Possible Long Setup H1On this pair, we have a market that is in conflict between two zones, one of supply and one of demand. According to my strategy, both zones are valid for the search for long or short scenarios. At the moment, the market has created a bullish setup that I have highlighted in yellow in the 1.86 zone. The objective will be to wait for the price to reach that zone and then aim for a long position with a target of 1.875. Let me know what you think. Happy trading to everyone. Forex48 Trading Academy
Long
by Forex48_TradingAcademy
2 TradingView Strategies for trading GoldTradingView offers a great deal of built-in and community-led features, including Indicators and Strategies. It is the latter feature that I will discuss in this trading guide in relation to trading one of our clients' favourite instruments to trade, gold. Strategies are programmes, written in the Pine Script language, which can execute, modify, and close buy and sell orders. The Strategies are programmed to perform these actions automatically when certain conditions are met as it relates to a tradeable asset. You can think of Strategies as automated trading robots. TradingView has thousands of Strategies that you can run on your charts. Strategies are typically created to work best with certain instruments and certain time frames. But bear in mind, that not all Strategies are created equal, and you should be very careful with what Strategies you select and ensure that you back tested them before deciding to implement them in a live trading environment. With the cautions out of the way, lets now dive into two TradingView Strategies that are popular with gold traders. Buy - Take Profit OR Stop Loss % Based (BTP/SLB) The BTP/SLB Strategy will enter sell trades when the price of gold closes above the look-back period’s 200 SMA. Once the script enters a trade, the BTP/SLB will hold the trade until it hits its percentage-based stop loss or take profit level. Using TradingView’s Beta ‘Deep Backtesting’ feature, we can see that the 30-minute time frame appears to be one of the most successful periods to apply this Strategy on. It might pay to alter the Stop loss percentage from the default 2% in order to maximise the Strategies win rate. A note caution: the Strategy appears to disregard the trend direction of the SMA. We can see that the Strategy frequently enter losing trades when the market is in a longer-term upwards trend (see the candles around late-July to early-August). To overcome this limitation, it might be wise to simply apply the Strategy to your chart without activating it, so that you can manually enter a trade after the Strategies conditions are met, but you can also eye a general downtrend over a longer-term timeframe. XAU/USD RSI EMA 1hour strategy The XAU/USD RSI EMA 1hour Strategy follows some simple rules using data from an RSI and an EMA. When the price of gold is above the EMA and the RSI indicates high oversold conditions, then the Strategy enters a long trade. Conversely, when the price of gold is below the EMA and the RSI indicates low oversold conditions, then the Strategy enters a short trade. I would suggest that you ignore the name of this Strategy and explore the use of this Strategy on lower, especially if you are interested in entering and exiting trades frequently. However, the accuracy of the Strategy may change on these different time frames, but an exploration could prove fruitful under the right conditions.
BLACKBULL:XAUUSD
by BlackBull_Markets
EURGBP short moving along 📉POW reversal strategy in use here for this trade. Trade details for current trade are shown on the chart. We are working the 15M time frame on this strategy. We're looking for the green line which is take profit target. Little red arrow is entry point and purple line is stop loss. Previous trades can be seen on chart a long which found TP. Lets see if this one can continue down to target. Trade history can be seen at the foot of this trade idea too for full transparency. In that box every trade is logged and can be viewed by clicking the tabs in the report box. You as the viewer of this idea can also do that so go ahead and have a play. ------------------------------------------ I try and share as many ideas as I can as and when I have time. My trades are automated so I am not sat in front of a screen daily. Jumping on random trade ideas 'willy-nilly' on Trading View trying to find that one trade that you can retire from is not a sustainable way to trade. You might get lucky, but it will always end one way. ------------------------------------------ Please hit the 👍 LIKE button if you like my ideas🙏 Also follow my profile, then you will receive a notification whenever I post a trading idea - so you don't miss them. 🙌 No one likes missing out, do they? Also, see my 'related ideas' below to see more just like this. The stats for this pair are shown below too. Thank you. Darren
Short
by pow_removetheguesswork
Possible Long Position ASP!!ASX:ASP SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY SMP Strategy Market Direction: Long Position Chart time frame - Daily Timeframe - 30 days A – Activating Event Market will meet support in zone @ current levels - ... . In order to enter into this trade, the pair MUST be in line with my Entry Procedure.... B – Beliefs Market will move towards the first Target 1 level @ 0.046 C - Fundamentals that may affect the pair N/A D - Trade Management Entered @ ..... Stop Loss @ ..... Trailing Stop Loss@..... Target 1 @ 0.046 Target 2 @ .... Risk/Reward @ 1.6.5 Happy trading :) Follow your Trading plan, Remain disciplined and Keep learning !! Please Follow, Like,Comment & Follow :) This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
ASX:ASPLong
by SMPTrader
Possible TRM Long PositionASX:TRM SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY SMP Strategy Market Direction: Long Position Chart time frame - Daily Timeframe - 30 days A – Activating Event Market will meet support in zone @ current levels - ... . In order to enter into this trade, the pair MUST be in line with my Entry Procedure.... B – Beliefs Market will move towards the first Target 1 level @ 0.059 C - Fundamentals that may affect the pair N/A D - Trade Management Entered @ ..... Stop Loss @ ..... Trailing Stop Loss@..... Target 1 @ 0.059 Target 2 @ .... Risk/Reward @ 1.4 Happy trading :) Follow your Trading plan, Remain disciplined and Keep learning !! Please Follow, Like,Comment & Follow :) This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
TLong
by SMPTrader
Huge running trades traders! Take a watch..... Some great moves from Monday Tuesday this week..... Some absolutely huge moves in the market - most of our members are still in these trades - running around 1500-2000 pips! Learn to let your winners run and simply close on the opposite signal - how many of you took these sells and closed after 20-30 pips profit - they are now in some instances 10x more profitable than that. Its like winning another 10 trades! Have patience, take confidence from past performance and stick to the plan. I missed GOLD off this video - running over 350 pips too, see our previous ideas too. ;-P Regards Darren
by pow_removetheguesswork
1
Possible GBP/CHF Long Position!!SMP TRADING SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY SMP Strategy Market Direction: Long Position Chart time frame - H4 Timeframe - 2-3 Days A – Activating Event Market will meet resistance in zone @ current levels - ... . In order to enter into this trade, the pair MUST be in line with my Entry Procedure.... B – Beliefs Market will move towards the first Target 1 level @ 1.21 C - Fundamentals that may affect the pair N/A D - Trade Management Entered @ ..... Stop Loss @ ..... Trailing Stop Loss@..... Target 1 @ 1.21 Target 2 @ .... Risk/Reward @ 1.5.1 Happy trading :) Follow your Trading plan, Remain disciplined and Keep learning !! Please Follow, Like,Comment & Follow :) This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Long
by SMPTrader
1
Possible AUD/JPY Long Position!!SMP TRADING SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY SMP Strategy Chart time frame - H4 Timeframe - 2-3 Days Market Direction : Long Position A – Activating Event Market will meet resistance in zone @ current levels - ... . In order to enter into this trade, the pair MUST be in line with my Entry Procedure.... B – Beliefs Market will move towards the first Target 1 level @ 67.2 C - Fundamentals that may affect the pair N/A D - Trade Management Entered @ ..... Stop Loss @ ..... Trailing Stop Loss@..... Target 1 @ 67.2 Target 2 @ .... Risk/Reward @ 2.1 Happy trading :) Follow your Trading plan, Remain disciplined and Keep learning !! Please Follow, Like,Comment & Follow :) This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Long
by SMPTrader
1
Possible SGD/JPY short Position!!SMP TRADING SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY SMP Strategy Chart time frame - H4 Timeframe - 2-3 Days A – Activating Event Market will meet resistance in zone @ Current levels - ... . In order to enter into this trade, the pair MUST be in line with my Entry Procedure.... B – Beliefs Market will move towards the first Target 1 level @ 80.00 C - Fundamentals that may affect the pair N/A D - Trade Management Entered @ ..... Stop Loss @ ..... Trailing Stop Loss@..... Target 1 @ 80.00 Target 2 @ .... Risk/Reward @ 3.5.1 Happy trading :) Follow your Trading plan, Remain disciplined and Keep learning !! Please Follow, Like,Comment & Follow :) This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Short
by SMPTrader
Possible EUR/USD Short Position!!SMP TRADING SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY SMP Strategy Chart time frame - H4 Timeframe - 1-2 Days A – Activating Event Market will meet resistance in zone @ Current levels - ... . In order to enter into this trade, the pair MUST be in line with my Entry Procedure.... B – Beliefs Market will move towards the first Target 1 level @ 1.100 C - Fundamentals that may affect the pair N/A D - Trade Management Entered @ ..... Stop Loss @ ..... Trailing Stop Loss@..... Target 1 @ 1.100 Target 2 @ .... Risk/Reward @ 3.1 Happy trading :) Follow your Trading plan, Remain disciplined and Keep learning !! Please Follow, Like,Comment & Follow :) This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Short
by SMPTrader
3
Possible EUR/CAD short Position!!SMP TRADING SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY SMP Strategy Chart time frame - H4 Timeframe - 2-3 Days A – Activating Event Market will meet resistance in zone @ current levels - ... . In order to enter into this trade, the pair MUST be in line with my Entry Procedure.... B – Beliefs Market will move towards the first Target 1 level @ 1.447 C - Fundamentals that may affect the pair EUR Zone consumer Price Index on the 31st Oct @ 20:00 AEST D - Trade Management Entered @ ..... Stop Loss @ ..... Trailing Stop Loss@..... Target 1 @ 1.447 Target 2 @ .... Risk/Reward @ 2.5.1 Happy trading :) Follow your Trading plan, Remain disciplined and Keep learning !! Please Follow, Like,Comment & Follow :) This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Short
by SMPTrader
2
Possible GBP/AUD Short Position!!SMP TRADING SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY SMP Strategy Chart time frame - H4 Timeframe - 1-3 Days A – Activating Event Market will meet resistance in zone @ 1.824 - ... . In order to enter into this trade, the pair MUST be in line with my Entry Procedure.... B – Beliefs Market will move towards the first Target 1 level @ 1.784 C - Fundamentals GBP CPI on the 18th Sept @1830 AEST D - Trade Management Entered @ ..... Stop Loss @ ..... Trailing Stop Loss@..... Target 1 @ 1.784 Target 2 @ .... Risk/Reward @ 2.5.1 Happy trading :) Follow your Trading plan, Remain disciplined and Keep learning !! Please Follow, Like,Comment & Follow :) This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Short
by SMPTrader
Possible USD/CHF Short Position!! SMP TRADING SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY SMP Strategy Chart time frame - H4 Timeframe - 1-3 Days A – Activating Event Market will meet resistance in zone @ 0.997 - ... . In order to enter into this trade, the pair MUST be in line with my Entry Procedure.... B – Beliefs Market will move towards the first Target 1 level @ 0.981 C - Fundamentals USD FOMC Rate Decision on the 19th Sept @0400 AEST D - Trade Management Entered @ ..... Stop Loss @ ..... Trailing Stop Loss@..... Target 1 @ 0.981 Target 2 @ .... Risk/Reward @ 3.5.1 Happy trading :) Follow your Trading plan, Remain disciplined and Keep learning !! Please Follow, Like,Comment & Follow :) This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Short
by SMPTrader
2
Possible USD/CHF Short Position!! SMP TRADING SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - H4 Timeframe - 1-3 Days Strategy A – Activating Event Market will meet resistance in zone @ current levels - ... . In order to enter, the pair MUST be in line with my Entry Procedure.... B – Beliefs Market will move towards the first Target 1 level @ 0.98 C - Fundamentals USD Consumer Price Index report coming out at 22:30 AEST FX:USD/CHF Trade Management Entered @ ..... Stop Loss @ ..... Target 1 @ 0.9800 Target 2 @ .... Risk/Reward @ 3.5.1 Happy trading :) Follow your Trading plan, remain disciplined and keep learning !! Please Follow, Like,Comment & Follow This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Short
by SMPTrader
Possible USD/CHF Position!!SMP TRADING SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - H4 Timeframe - 1-3 Days Actions on - A – Activating Event Market will meet resistance in zone @ 0.9925 - .... and fall to the 0.9800 . In order to enter, the pair MUST be in line with my Entry Procedure.... B – Beliefs Market move towards the first Target 1 level @ 0.98 FX:USD/CHF Trade Management Entered @ ..... Stop Loss @ ..... Target 1 @ 0.9800 Target 2 @ .... R isk/Reward @ 3.5.1 Happy trading :) Follow your Trading plan, remain disciplined and keep learning !! Please Follow, Like,Comment & Follow This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Short
by SMPTrader
Possible LIN ASX Long Position!!SMP TRADING SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - H4 Timeframe - 1 - 3 weeks Actions on - A – Activating Event Market will find support in zone @ Current Levels - .... and move to the 0.022 . In order to enter, the pair MUST be in line with my Entry Procedure.... B – Beliefs Market will move towards the first Target 1 level @ 0.022 ASX:LIN Trade Management Entered @ ..... Stop Loss @ ..... Target 1 @ 0.022 Target 2 @ .... Risk/Reward @ 2.1 Happy trading :) Follow your Trading plan, remain disciplined and keep learning !! Please Follow, Like,Comment & Follow This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
ASX:LINLong
by SMPTrader
Possible AUD/JPY Short Position!!SMP TRADING SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - H4 Timeframe - 4-12 Hours Actions on - A – Activating Event Market will meet resistance in zone @ current levels - .... and fall to the 75.2 . In order to enter, the pair MUST be in line with my Entry Procedure.... B – Beliefs Market move towards the first Target 1 level @ 75.2 FX:AUDJPY Trade Management Entered @ ..... Stop Loss @ ..... Target 1 @ 75.2 Target 2 @ .... Risk/Reward @ 2.5.1 Happy trading :) Follow your Trading plan, remain disciplined and keep learning !! Please Follow, Like,Comment & Follow This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Short
by SMPTrader