XAUUSD (Gold) Daily 12/8/19GOLD Long
Higher time frames show that gold has been quite bullish but has been retracing to the daily 38.2% fib level
Gold, like dxy, has been ranging between the 38.2% and 1477.50 and has not established a bullish or bearish move yet
If we are to trade a bullish continuation we want to see a break and retest of the 1477.50 area but if we are to target lower we will look for the 38.2% zone to be broken
Technical-analysis
Where is 10Year Going? Supply and Demand ZonesWe have couple of supply zones above current price but also big strong Daily Demand zone below so...
after drop to demand there is a big chance to rally up to supply zone and even further
keep these number is your mind ;))
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Treat Trading Like a Business
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AUDUSD LONG IDEAHello traders!
Very slow movement past week on the Aussie Dollar! this week we are having a lot of fundamental support for the AUD staring today in the Asian session. I do believe that we can push down before going up because the price is currently looking very much bearish but out of power. When you see slowing down in the price that means that bears are losing their control at the moment, but we can have a stop hunt move down before going up.
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Disclaimer
the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
EURUSD LONG IDEAHello traders!
EURUSD very similar to the DXY as it's cross-referenced, now as I want to see the DXY push up first before going down, here on the EURUSD I want to see another move to the downside into the supportive regions before taking a long trade here, it can be a nice swing movement up on the hill. From last week's conditions, you can clearly see how one day engulfed the whole week of the choppy movement, this is giving us a sign for the long trades if we will see another rejection of the bottom region.
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Disclaimer
the content on this analysis is subject to change at any time without notice and is provided for the sole purpose of assisting traders to make independent investment decisions.
U.S DOLLAR ( DXY ) OVERVIEWHello traders!
A very slow week is behind us and we are stepping into the last month in the year December. As normally we are going to start with the DXY which is the catalyst for the market movements across the board.
Technical: As seen the last week was choppy with few pips up and few pips down until the Friday which one candle engulfed the whole week and gave us a sign for the bearish market condition, but first as seen on the chart I'm expecting a push up into the region before going down to the 98.00 mark.
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DOW JONES / +20% potential move if this year ends ATH greenThis is a 6 month chart of the US30 (DOW JONES). We are in an uptrend for the last decades and if this year closes at an all time high or really close to the all time high, we are really likely to see bullish continuation. At the end of last year we saw global stock markets go down resulting in an retracement. This year has had it's ups and downs but the last months we are going up again and breaking the highs of the last quarter of 2018, which brings the market in another potential bullish move.
In the first 6 months of the year price closed really bullish which was a great first sign of a new move up. Then, price started to get down to the 25000 area and test it there, reject and move all the way up again. This means we have first a decent breakout candle of the first half of the year, then a rejection currently breaking all time highs which means it makes the 25000 area even stronger as a support.
With some political events such as the trade deal between the US and China december wont' be a really silent month so let's see what happens with the last month of this year.
I will keep this scenario updated.
Happy trading everyone!
Weight Watchers about to gain some weight :DAlright, now that I got the corny title out of the way we can talk about why this stock will do well. This recent drop was huge and the trend is getting close to the 30 week moving average at around $27, it's been trading above the 30 week MA so at this point buying the pullbacks to the 30 week makes sense. The S&P 500 is trending up from the recent break out and that will be the main reason why this would go up. Today volume came in on that big drop and you can see it if you zoom into the 1hr chart, trade this on the weekly just look at the volume for reference on the 1hr. Could it drop a little further? Possibly, but i'd trade this by buying it here and buying more on the way to $27 if it were to continue dropping. The RSI is centered out and the MACD seems to have a way to go so the stock has momentum for what I believe might be 2 big moves to $45 and $65. Let me know what you guys think and feel free to post your ideas!
Is Bitcoin going on New Year's holidays?Bitcoin continues to decline. Its support level in the area of $ 7,200 - $ 7,400, which also coincided with the Fibonacci level of 0.618, could not restrain sellers, and the price rushed lower. Now the price has fixed below the support zone of $ 7,200 - $ 7,400, which tells us that really interested buyers haven`t yet appeared in the market — if they had, they would begin to move the price up.
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Technically, we trade under the support level, 20EMA and 50EMA crossed 200EMA, all indicators are in the downtrend, so far everything doesn't look extremely optimistic for bitcoin. The next potentially interesting for purchases is in the area $ 5,500 - $ 6,000, where there is a large concentration of stops -orders, which the market makers are likely to follow. Now a slight correction of the price for a mirror-level retest of $ 7,400 is possible, if the price fails to break higher and gain a foothold over it, a further decrease is expected to below the esignated area of about $ 6,000.
Fundamental and technical condition of bitcoin.The price of bitcoin after a long systematic downwards decline over the past day has fallen sharply by $ 700 (-8%). The fall is due to the negative fundamental background and the weakness of buyers who have not stepped up in the support area of $ 8,200 - $ 8,400.
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The fundamental causes of the fall:
- “The surrender of miners” on the eve of halving: bitcoin miners are actively draining their income;
- In China, there is again a kind of “cooling” of sentiment regarding cryptocurrencies;
- Throwing negative news about a police raid on the Binance cryptocurrency exchange office in Shanghai.
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Technically:
The price amid weak buyers and a negative fundamental background came close to a strong support level in the area of $ 7,400 - $ 7,600 again, which, in its turn, coincides with the Fibonacci level of 0.618 that locally strengthens this area and increases the likelihood of a price rebound, which may provoke further upward price movement, thereby forming the figure of the technical analysis named the "double bottom". The RSI indicator began to enter the oversold zone, which also plays into the hands of buyers, but does not guarantee a 100% increase in current prices.
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The $ 7,400 - $ 7,600 zone is currently the key to the further movement of bitcoin price, and the cryptocurrency market as a whole, as if they continue to aggressively push bitcoin down, all other altcoins will follow. If sellers manage to push this level and gain a foothold under it, we`ll have every chance to continue the downtrend, down to the area of $ 5,400 - $ 6,000, where we expect the next zone of potential buyers, which also acts as a zone of accumulation of stop orders for traders trading on increase, and these orders are potential fuel for the future global rise in the price of bitcoin.
Temporary correction or New Year rally?Bitcoin continues to gradually descend in a formed downward wedge. In the classical understanding of technical analysis, this wedge should be broken up, but now every second trader sees this figure on the chart — because of this, it`s not a fact that everything will happen as simple as most people expect.
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Technically, we trade under the Fibonacci level 0.618, and under the 50% margin requirements level. Below, we have another tasty zone for the market maker, it is a 100% margin requirements zone, which almost coincides with the next Fibonacci level 0.786 ($ 8,000 - $ 8,200). The RSI index has already seen a long formation of bullish divergence, which increases the likelihood of a quick upward movement, but it is possible that it will be realized through a sharp downward movement, with a quick return of the price.
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We expect at least a corrective upward movement, either from current prices of $ 8,400 / $ 8,500, or after another descent down, from $ 8,100 / $ 8,200. If these levels do not deter aggressive sellers, then we have a risk of moving further down to the $ 6,000 area, but for now, we are adhering to a positive scenario with a corrective upward movement, after which we will see cryptocurrency market further mood.
AUDUSD I believe that the 200 EMA can act as a strong support because we see a lot of rejection from the downside and the bulls might win this battle for now
- On MACD indicator we can expect a crossover to the upside in about 8 hours
- The RSI is making higher lows and that IMO is a strength sign.
This is a possible scenario, wait for confirmation before entering a position.
Herbalife, back in the trash where it belongsThe company has received growth from the hopeful and ignorant in the last few decades. The business model is an example of what's wrong with our society. Finally, my indicators are pointing towards a short and I have been waiting for this for a long time. This crossed over on the 30week which is normally bullish for me but the 30 week has not started curving up. If you look at good stocks, you can see they cross over and then the average curves up with price .It had a stock split, seems like this is a timebomb over stocks that have actual fundamental potential. The macd and RSI are pointing this stock up though because they are starting to get centered out...watch it very carefully. If volume does not come in and this continues to drop, crossing the 30 week, its going to take a shit. If volume comes in and price goes up, the trash will continue to get carried up for a while longer. Thanks for reading, let me know what you think.