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Support and Resistance

Gold Technical Outlook: Bearish Bias Amid Election Volatility Technical Analysis The price dropped and hit our target perfectly. Today, the market will be influenced by the U.S. election, introducing potential volatility and random movements. Despite this, the overall bias remains bearish. As long as the price trades below 2749, the bearish trend is likely to persist, targeting 2731. Any sustained move below 2731 could accelerate the decline toward 2720 and 2712. Conversely, a bullish reversal would be confirmed by a break above 2758, opening the path toward 2775. Bearish Scenario: The price may retest 2749 before resuming its downward trend toward 2731 and 2712. Stability below 2739 reinforces the bearish outlook. Bullish Scenario: A 4-hour candle close above 2758 would indicate a potential bullish shift, with subsequent targets at 2775 and 2788. Key Levels: Pivot Point: 2739 Resistance Levels: 2749, 2758, 2775 Support Levels: 2731, 2712, 2695 Trend Outlook: Above 2758: Uptrend Under 2758: Downtrend
OANDA:XAUUSDShort
by SroshMayi
GBP/JPY ANALYSIS AND THOUGHTSGBP/JPY 15M - This is another pair I have taken some interest in based on the structure its putting out and how its been playing out over the course of the past few days, you will see I have gone ahead and marked out some areas in price. Price traded into a Supply Zone originally which led price to then break structure to the downside here on the higher timeframes, I have gone ahead and marked that out for you. What we are seeing now is price correcting itself. Price is currently trading back up to set a new Lower High in what I think is going to be new bearish structure. I have marked out an area of relevance I feel price may trade up and into before trading us lower in the market. In order for us to deem a valid entry we want to see price trade up, reject well from the zone breaking structure before pulling back initially and continuing to trade us lower in the market.
Short
by Lukegforex
SPx / Bearish Momentum Awaits Retest, Key Levels in FocusTechnical Analysis The price will likely attempt a retest around 5,755 or 5,781, after which a renewed bearish trend could push it toward 5,675 and 5,643. Bearish Scenario: Consistent stability below 5,781 may lead to a downward move targeting 5,734. A 1-hour or 4-hour candle close below 5,734 could activate the next bearish zone. Bullish Scenario: Should the price stabilize above 5,746, some bullish momentum may emerge toward 5,781. However, a reversal with stability above 5,803 would signal potential movement upwards, with targets at 5,824 and 5,850. Further Bearish Continuation: For a deeper decline, the price should establish stability below 5,715, paving the way for a drop toward 5,675. Key Levels: Pivot Point: 5734 Resistance Levels: 5755, 5781, 5803 Support Levels: 5715, 5675, 5643
OANDA:SPX500USDShort
by SroshMayi
LTC trianglesLTC price action goes through descending triangles. Every triangle takes longer to play out (lengthening cycles) First triangle was from mid 2017 to beginning of 2019. (yellow triangle) Second triangle from beginning 2019 to 2021. (orange triangle) Third triangle took from 2021 till 2024. (red triangle) The base of every next triangle is set at the last upper touching point of previous triangle (last candle that touched resistance before breakout). Bullrun after breakout from red triangle was rejected for now by green line, which has been important level since 2018 (app. 100 EUR). It also coincides with the last touch point before breakout from red triangle. This green line is very important level LTC needs to break before it can go into bullrun mode. Stoch RSI on the monthly is below 20, curving towards the upside. And RSI on LTCBTC chart has been creating higher lows since January this year while price action has been making lower lows (bullish divergence). Could this be the much needed push?
Long
by carefulCheese32259
4
MY THOUGHTS ON USD/CHFUSD/CHF 1D - This is one of the only pairs thats close to providing us with an opportunity at the moment, so I am going to provide you all with a breakdown on my thoughts for this pair. As you can see price has traded us in a bullish way since trading into the area of Demand below, I am expecting this to continue, trading us up and into the Supply Zone above. Before price does that we can expect a fractal correction to take place trading us down and into the Demand Zone below, this giving us the opportunity to get involved in this market with a refined entry. Once price trades us down and into this we want to see price reject well, breaking structure fractally to the upside suggesting an end to this current correction before a continuation higher. When we have been delivered with that we can look to enter.
Long
by Lukegforex
GOLD → The US election and how does XAUUSD depend on it?FX:XAUUSD is waiting for strong news. The price continues to test and even update local lows, but in the next 1-2 days you need to be careful as high volatility is expected. The main issue on the agenda is the US presidential election. High volatility is expected. Until last week, markets were pricing in a Trump victory (his policies on immigration, tax cuts and tariffs will put upward pressure on inflation, bond yields and the US dollar). But on Monday, the situation showed a slightly different picture, with the odds of a Harris victory (opposite, successor, policies) rising In addition, expectations of a less aggressive easing cycle from the Fed are also supporting the dollar. Also, markets are taking into account the ongoing Middle East conflict between Israel and Iran. Technically, the emphasis of the flat boundaries. While the price is trading inside, but most likely an attempt to get out of the accumulation will be formed.... Resistance levels: 2745, 2758 Support levels: 2731, 2724, 2713 Technically, gold continues to test support with the aim of retesting deeper liquidity zones below. But the risks are quite high right now. Gold is still feeling the support, so there could be unpredictable market reactions depending on the outcome! Regards R. Linda!
FX:XAUUSDShort
by RLinda
6
Markets Slip Amid Election Uncertainty &Fed Rate Cut ExpectationTechnically: As long as the price trades under 20130 it means will try to touch 19950, and then should break that to continue the trend toward 19860 and 19730, Bearish Scenario: While trading below 20130, the price may attempt to reach 19950 and 19860. A break below 19740 would pave the way for further declines toward 19520. Bullish Scenario: Stabilization above 20130 would open the path to 20240. Further strength above this level could create a bullish zone targeting 20420. Key Levels: Pivot Point: 20130 Resistance Levels: 20240, 20330, 20420 Support Levels: 19950, 19860, 19740 Trend: - Bullish above 20130 - Bearish below 20110 Markets Slip Amid Election Uncertainty and Fed Rate Cut Expectations: U.S. stock indexes slipped in choppy trading on Monday as investors braced for a pivotal week with the U.S. presidential election and a potential Fed rate cut. Uncertainty lingered, with no clear winner expected immediately between Kamala Harris and Donald Trump. "Trump trades" weakened as polls showed Harris leading in Iowa, causing drops in the dollar, bond yields, and Bitcoin. Harris' odds improved on key betting sites, closely watched by market participants.
OANDA:NAS100USDShort
by SroshMayi
1
GBPUSD 4H longThis setup was not interesting for me last week but this week it is. The trend reached a weak and small demand zone so that's not interesting. But given all the price action for the last 2 weeks arround this level it makes it a stronger support level. Especially the strong bear candle so people ( including me ) think this will go bearish. Then suddenly it goes bullish, this is how allot of people loose money and that is what "they" need to move the markets. Entry trigger was because the price was bought up above the "weak" support line. Then we see some small indecision candles and after that another medium strong bull candle. That is a bullish sign for me so I entered :) There is off course US elections so high impact news but I will take that risk. The setup looks solid.
Long
by FX-Diaries
Oct.29-Nov.04(ETH)Weekly market recapLast Friday, the non-farm payroll data fell significantly short of expectations, leading to a substantial increase in interest rate cut anticipations. The price of ETH surged before retreating, with the majority of traders attributing the disappointing data to the impact of the hurricane, as the market response was less than favorable. Currently, the differing expectations regarding monetary policy and future inflation between the two candidates in the U.S. election make the election outcome pivotal for the mid-term trajectory of BTC, while also impacting the price of ETH. Should Trump be elected, the promised favorable policies may come to fruition, increasing the likelihood of institutional investments in BTC, thereby enhancing its fundamentals as digital gold. Conversely, if Harris takes office, the SEC is expected to maintain its stringent stance on cryptocurrency regulations. Last week, ETH experienced an initial rise followed by a decline, but the overall fluctuations were minimal, remaining within a consolidation range without any significant trend. The WTA indicator showed blue bars representing whales, which disappeared after Saturday, indicating a withdrawal of substantial capital. The ME indicator continues to reflect a bearish trend. In summary, we anticipate that ETH may continue to oscillate this week. We maintain our previous resistance level at 2800 and support level at 2200. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:ETHUSD
by Sypool
1
Oct.29-Nov.04(BTC)Weekly market recapLast Friday, the non-farm payroll data fell significantly short of expectations, leading to a substantial increase in interest rate cut anticipations. The price of BTC surged before retreating, with the majority of traders attributing the disappointing data to the impact of the hurricane, as the market response was less than favorable. Currently, the outcome of the U.S. presidential election is pivotal for the mid-term trajectory of BTC, given the differing monetary policy and inflation outlooks of the two candidates. Should Trump be elected, the promised favorable policies may come to fruition, increasing the likelihood of institutional investments in BTC, thereby enhancing its fundamentals as digital gold. Conversely, if Harris takes office, the SEC is expected to maintain its stringent stance on cryptocurrency regulations. Last week, BTC experienced an initial rise followed by a decline, breaking through the resistance level to reach $73,590 on Tuesday. The WTA indicator showed the emergence of blue bars representing whales, but these disappeared after Saturday, indicating a withdrawal of significant capital. The ME indicator remains in a bullish trend. In summary, we anticipate that BTC may experience considerable volatility this week. We have adjusted the resistance level to $74,000 and the support level to $67,000. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:BTCUSD
by Sypool
1
Price Action - HFCLCurrent Price Action The stock has recently shown a bounce back movement from its support trendline, indicating potential strength and buyer interest. The recent high-high and high-low formations suggest strong interest in the stock, coupled with an increase in volume, which can be a bullish sign. Volume and Momentum Increased volume during the recent bounce back suggests strong participation and interest from buyers, which is a positive sign. Growth Perspective and Fundamental Analysis Product Portfolio and Diversification HFCL Ltd. has a diverse product portfolio including Optical Fiber Cable (OFC), WIFI solutions, cloud-based network management systems, and more. This diversification reduces dependence on a single product and enhances growth potential. The company serves multiple sectors such as telecom, defense, railways, utilities, and security & surveillance, both in the private and government sectors, which provides a stable and growing revenue base. Conclusion From a price action trading perspective, HFCL Ltd. shows signs of potential upside with the recent bounce back from support levels, increased volume, and bullish technical indicators. However, it is important to monitor the short-term bearish signals and adjust trading strategies accordingly.
NSE:HFCLLong
by stocktechbot
IRCTC Breakdown Trading StrategyThe stock price of IRCTC has fallen below major support levels and currently offers good positional opportunity. The business has a monopoly and the current news flows had impacted the sentiments negatively. The news impact seems to be over and the stock is prepared to perform. Note: The idea shared is aimed at spreading practical awareness of the theoretical concept of Breakdown Trading Strategy. Do not make any financial commitments based on this.
NSE:IRCTCLong
by Gaurav_Singh_5705
WTI is targeting growth again. H4 05.11.2024🛢 WTI is targeting growth again 📈 Oil is looking at a possible pattern for a segment overlap to the upside in which we will again target a major upside. Price is now approaching the control margin at 73 and from there a local correction may be made and then growth will continue. Major volumes have stayed down and have been buybacks. Also OPEC+ have postponed the increase in oil production which will further support it. BLACKBULL:WTI
BLACKBULL:WTILong
by KovachTrader