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8.18.2024 Weekly Pre-Market Analysis S&PThis is my Weekly Pre-Market Analysis on the S&P> Right now we are going to wait for market structure to form. We saw lower highs and higher lows form on Friday after the last bullish move up. So we do not have a clear direction as to which way if may head. We have a plan for a SHORT position as well as a plan for a LONG position. We just need to watch the LOWS & HIGHS form on the 15 minute chart, before we even think of getting into a trade.
CME_MINI:MES1!
by MoneyDuck_Butch
Gold drops below $2,50 after CPIA break below $2,455 on a closing basis would help confirm the start of a fresh down leg within the range, thereby extending the sideways trend. If so, the price will probably move down to $2,400 or perhaps the range floor in the $2,390s. Due to the fact the range is tapering slightly, it might also be a triangle pattern in the final stages of development. A decisive break above the range ceiling, however, would indicate the development of a more bullish trend. Such a breakout would probably follow through higher to at least $2,550, calculated by taking the 0.618 Fibonacci ratio of the range’s height and extrapolating it higher. A decisive break would be one characterized by a long green candle that pierced clearly through the level and closed near its high, or three green candles in a row that breached the level.
OANDA:XAUUSD
by TVS-Trader
GBP/AUD Short, NZD/JPY Short, USD/CAD Short and EUR/CAD ShortGBP/AUD Short Minimum entry requirements: • If area of value tapped into, risk entry after a 1 hour rejection from it. NZD/JPY Short Minimum entry requirements: • Tap into area of value. • 1H impulse down below area of value. • If tight 5 min continuation follows, reduced risk entry on the break of it. • If tight 15 min continuation follows, 5 min risk entry within it, or reduced risk entry on the break of it. USD/CAD Short Minimum entry requirements: • Tap into area of value. • 1H impulse down below area of value. • If tight 15 min continuation follows, 5 min risk entry within it, or reduced risk entry on the break of it. EUR/CAD Short Minimum entry requirements: • Tap into area of value. • 1H impulse down below area of value. • If tight 15 min continuation follows, 5 min risk entry within it, or reduced risk entry on the break of it.
Short
by StewySongs
USD/CAD Trade Setup: Long Position from Fibonacci Golden PocketI've entered a long position on USD/CAD, using the Fibonacci retracement for my setup. The entry is based on the golden pocket level, a key area between the 61.8% and 65% retracement levels, which often acts as strong support. Although I've been underwater on this trade for a while, I'm still confident in the strength of the golden pocket. My stop loss is strategically placed below this level at 1.37115 to protect against further downside. I'm targeting the 0.382 Fibonacci level for my final take-profit at 1.38110. I'm also considering adding to my position if we get a four-hour close above the EMA on the 4-hour chart, which would further confirm the bullish setup. I'll keep you posted as the trade develops.
Long
by CryptoHydro
Gold Trade Setup: Short Position on Ascending TriangleI've identified an ascending triangle on the gold chart and have taken a short position from the top of the range. My entry is at 2,443.506 with a stop loss placed just above the triangle at 2,446.460. Ascending triangles typically signal a bullish breakout, but I've positioned for a potential pullback or false breakout. My stop loss is set conservatively above the triangle to protect against any upside breakout. I'm aiming for a favorable risk/reward ratio by shorting at resistance, with plans to take profits at the 15-minute EMA level, which is currently at 2,436.7. I'll update as the trade progresses.
OANDA:XAUUSDShort
by CryptoHydro
GBP/AUD Short, USD/CAD Short, NZD/USD Long and GBP/CHF ShortGBP/AUD Short Minimum entry requirements: • If area of value tapped into, risk entry after a 1 hour rejection from it. USD/CAD Short Minimum entry requirements: • Tap into area of value. • 1H impulse down below area of value. • If tight 15 min continuation follows, 5 min risk entry within it, or reduced risk entry on the break of it. NZD/USD Long Minimum entry requirements: • Tap into area of value. • 1H impulse up above area of value. • If tight 5 min continuation follows, reduced risk entry on the break of it. • If tight 15 min continuation follows, 5 min risk entry within it, or reduced risk entry on the break of it. GBP/CHF Short Minimum entry requirements: • Tap into area of value. • 1H impulse down below area of value. • If tight 15 min continuation follows, 5 min risk entry within it, or reduced risk entry on the break of it.
by StewySongs
SPECUSDT.P-Bull flag Specusdt.p Bullish Setup: Bull Flag Breakout The SPECUSDT.P pair has formed a classic bull flag pattern, and we've just seen a breakout above the structure at 6.008. While this is a promising sign, I’m waiting for a 4-hour candle close above the flag to confirm the breakout before entering a long position. Entry: Watching for confirmation above 6.008. Stop-Loss (SL): Below the EMA at 5.879. Take-Profit (TP): Targeting 6.749. This setup offers a good risk-to-reward ratio, with a well-defined SL and TP. Always manage your risk accordingly.
Long
by CryptoHydro
EURUSD analysis week 33Fundamental Analysis EUR/USD traded sideways above the round-figure support of 1.0900 in New York trading on Friday. The ECB is expected to cut interest rates two more times this year as the Eurozone economy struggles and price pressures are on track to return to the desired 2%. However, ECB officials have yet to commit to a predetermined rate-cutting path as they expect a path towards the central bank's 2% target. The US dollar (USD) consolidated in a narrow range, with investors focused on the extent to which the Federal Reserve (Fed) will cut interest rates at its September meeting. Looking ahead, the next trigger for the US dollar will be the US (US) Consumer Price Index (CPI) data for July, due out on Wednesday. Technical Analysis GBPUSD continues to trade within an ascending channel with the nearest support and resistance in the price range of 1.100 and 1.074. On the H4 timeframe, the EMA 34 has crossed above the EMA 89, indicating that the market structure is starting a new uptrend in line with the current price channel with the highest Resistance at the peak of the beginning of this year around 1.112. On the other hand, any daily close above the support level of 1.075 would confirm that EURUSD could break the ascending channel and move towards the support level of last month around 1.062. Resistance: 1.100-1.112 Support: 1.075-1.062 Trading Signals SELL EURUSD zone 1.100-1.102 SL 1.104 BUY GBPUSD zone 1.075-1.073 SL 1.071
by TVS-Trader
SPX are we bullish or bearish? The S&P 500 closed the weekly firmly. Finally putting in a high volume reversal, has the SPX bottomed here? One thing is for sure we are still putting in higher highs & higher lows on the weekly time frame. Until we see the markets give us that lower weekly high its still a tough market to short. We think about the decline in semis and megacaps after earnings...all eyes will be on NvDA near end of month. The markets have a strong chance at staying buoyamt into NVDA earnings.
SP:SPX
by Trading-Capital
AUD/NZD Short, GBP/CHF Short, EUR/JPY Short and GBP/JPY ShortAUD/NZD Short Minimum entry requirements: • Tap into area of value. • 1H impulse down below area of value. • If tight 5 min continuation follows, reduced risk entry on the break of it. • If tight 15 min continuation follows, 5 min risk entry within it, or reduced risk entry on the break of it. GBP/CHF Short Minimum entry requirements: • 1H impulse down below area of value. • If tight 5 min continuation follows, reduced risk entry on the break of it. • If tight 15 min continuation follows, 5 min risk entry within it, or reduced risk entry on the break of it. EUR/JPY Short Minimum entry requirements: • Tap into area of value. • 1H impulse down below area of value. • If tight 5 min continuation follows, reduced risk entry on the break of it. • If tight 15 min continuation follows, 5 min risk entry within it, or reduced risk entry on the break of it. GBP/JPY Short Minimum entry requirements: • Tap into area of value. • 1H impulse down below area of value. • If tight 5 min continuation follows, reduced risk entry on the break of it. • If tight 15 min continuation follows, 5 min risk entry within it, or reduced risk entry on the break of it.
Short
by StewySongs