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Trend Lines

EUROSTOXX broke the DownTrend Line.The EURO STOXX 50, which serves as a benchmark for major eurozone companies, has been trading sideways in recent months, fluctuating between a strong support level at 4,730 and resistance at 5,099. After multiple tests of the support, the price has formed candles with long lower shadows, indicating a rejection of lower prices and buyer interest in maintaining levels above this critical point. Recently, the index provided a significant technical signal by breaking the Downtrend Line that had been in place since previous peaks. This breakout is a strong indicator of potential short-term growth. Main Scenario: Bullish With the Downtrend line broken, the price now has the potential to target higher levels on the daily chart. The 5,000.00 area is the first key resistance to watch, followed by the previous peak at 5,099, which would confirm a stronger bullish trend. Potential Bullish Movement: Ideal Entry: A pullback to around 4,830.00 (near the broken downtrend line), followed by a bullish candle in that area, could signal a buying opportunity. Primary Target: 5,015.00. Secondary Target: 5,099.17. Stop Loss: Below 4,740, with a more conservative option at 4,727.00 (indicating loss of support). Important Indicators: Monitoring volume during the rally is crucial; low volume could indicate weakness in the breakout. Alternative Bearish Scenario Despite the bullish technical scenario, the market may reverse if the support region at 4,727.48 is broken. A consistent daily close below this level, accompanied by significant volume, would invalidate the bullish structure and could attract strong selling pressure. In this case, a possible Sell Opportunity could appear if a daily candle closes below the 4,727.00 level. Possible targets would be: 4,500.00: Intermediate psychological and technical support. About 22700 points. 4,400.00: Next relevant support, observed in previous months. About 33700 points. A Stop Loss could be put around 4,770.00, about 4300 points. Warning Signs: Heightened global risk aversion, a declining macroeconomic situation in Europe, and ongoing weakness in industrial and consumer sectors could intensify selling pressure. Macroeconomic Context Europe faces a tough landscape. Germany, the region's primary economic driver, is grappling with an industrial slowdown and reduced consumption, impacting the competitiveness of its companies. These issues have lowered growth projections for the eurozone. Additionally, escalating tensions with Russia present a significant geopolitical risk. As the European Central Bank seeks to balance inflation control with growth stimulation, uncertainty in both geopolitical and economic spheres continues to affect the markets. The upcoming interest rate decision on December 12 may provide clearer guidance on the European Central Bank's future actions. Disclaimer 74% of retail investor accounts lose money when trading CFDs with this provider. Consider whether you understand how CFDs work and if you can afford the high risk of losing your money. Past performance is not indicative of future results. Investment values may fluctuate, and you may not recover your initial investment. This content is not intended for residents of the UK.
MARKETSCOM:EUROPE50Long
by Marketscom
04/12/24 Gold trade ideaGold has been in a 100 pip range for the whole week so far (2636-2646) despite news events that have favoured the USD. With rejections of 2640 support getting stronger my bias is still BULLISH albeit only slightly leading into NFP on Friday. Trade ideas for today and tomorrow: Bullish: - 2655 buys - 2670 safest buys Overall target being between 2685-2700s depending on news and momentum Sells: - ONLY if we see a break and close below 2631 we could retest the weekly low of 2623 before reassessing however given how many rejections we have had so far of 2640 I believe this would only happen with fundamental input. As always DONT OVER TRADE, and trade what you see not what you want.
FPMARKETS:XAUUSDLong
by Thetraderscollective
Waiting for opportunities to continue shorting goldBros, gold is still operating within the oscillating range of 2630-2655, and has not made any breakthrough moves. Gold is currently trading around the mid-range position of 2641. Currently, gold is trading around the mid-waist position of 2641. To be honest, the mid-waist position is not very easy to participate in trading, because gold has room for fluctuations up and down, at least it is not easy to set SL in the execution of transactions, so we can still wait patiently for trading opportunities. From the perspective of gold structure, gold is still relatively weak, so I still prefer to short gold in trading, so if gold can rebound to the 2650-2655 area, I will continue to try to short gold. Bros, do you know how to correctly grasp the trading rhythm of gold? If you want to learn more detailed trading ideas and get more trading signals, you can choose to join the channel at the bottom of the article to make trading no longer difficult and make making money a pleasure!
OANDA:XAUUSDShort
by Trader_Marvin
2
GBP/USD Analysis: Key Levels in Focus Amid Mixed TrendsHello Traders, Trust you are great. Below is my perspective on the probable direction of GBPUSD in the coming days. Overview On the H4 timeframe, GBP/USD remains in a bullish trend. However, on the H1 chart, the pair is consolidating within a bearish structure. Key resistance levels are observed at 1.27219 and 1.27026, with the recent high at 1.27496 marking a critical threshold for further upside movement. Idea There is potential for a short-term rise in price, but the advance is likely to remain capped below 1.27496. The overall expectation is for the pair to break below the trendline after this upward movement. A confirmed close beneath the trendline could lead to a decline toward the 1.25400 price region, where strong support might trigger a bounce. Additionally, earlier unusual volatility caused a sharp downward spike, but this has since eased, and momentum has weakened significantly. Conclusion While a downward move appears probable, a break above the Friday high of 1.27496 would invalidate this bearish outlook and signal a continuation of the bullish trend. Do let me have you thoughts. Cheers and happy trading!
Short
by Samuel124
2
S&P 500 Analysis: Bullish Momentum and Key Levels S&P 500 Technical Analysis The S&P 500 reached another All-Time High (ATH) in December, signaling a continuation of its bullish trend and the potential for further historical gains. Currently, the price is consolidating within the range of 6068 and 6022, awaiting a breakout. Overall, the bullish trend remains strong, with the next key target at 6143. However, a break below 6022 could signal a correction, with the price potentially dropping toward 5971. Key Levels: Pivot Point: 6068 Resistance Levels: 6100, 6143, 6185 Support Levels: 6022, 5971, 5932 Trend Outlook The overall trend remains bullish, supported by strong momentum and the recent achievement of new highs.
OANDA:SPX500USDLong
by SroshMayi
The BankNIFTY Index Futures chart - Fibonacci Trading StrategyThe BankNIFTY Index Futures chart presents a fascinating case for Fibonacci retracement analysis. After a significant downtrend from the peak at 55,000, the index has shown a series of bounces and pullbacks, which are classic signals for Fibonacci traders. Key Observations: Downtrend Confirmation: The initial peak around 55,000 was followed by a sharp decline, confirming a bearish trend. This sets our high point for Fibonacci levels. Fibonacci Levels: From the high at 55,000 to the low at 50,130, key Fibonacci retracement levels are established: 23.6% at 51,288 38.2% at 52,003 50% at 52,582 61.8% at 53,160 78.6% at 53,984 Support and Resistance: The chart shows multiple touches around the 50% (52,700) and 61.8% (53,160) levels, indicating strong support/resistance zones. The recent price action around these levels suggests potential reversal or continuation signals. Trading Strategy: Long Position: Consider entering a long position if the price finds support at the 50% or 61.8% Fibonacci levels, especially with confirmation from other indicators like RSI or MACD. Stop loss can be set below the 78.6% level or recent swing lows. Short Position: If the price breaks below the 50% level with volume, it might target the 61.8% or even the 78.6% Fibonacci level for further downside. Confirmation from bearish candlestick patterns or momentum indicators would strengthen this trade. Breakout Strategy: Watch for a breakout above the 61.8% or 78.6% levels. A confirmed breakout could lead to a new uptrend, with targets potentially aiming for the previous high or higher Fibonacci extensions. Volume Analysis: Notice the spike in volume around the recent lows and subsequent recovery. This could indicate strong buying interest at lower levels, suggesting a potential bullish reversal or at least a strong support zone. Risk Management: Always use stop losses to manage risk, especially in volatile markets like BankNIFTY. Adjust your position size according to your risk tolerance and the volatility of the instrument. This Fibonacci-based approach provides a structured way to navigate the market's waves, leveraging historical price action for future predictions.
NSE:BANKNIFTYZ2024Long
by stocktechbot
Gold is trading sideways and waiting for the small non-farm data Gold prices closed below 2640 on Tuesday after strong US jobs data suggested the Fed was cautious about rate cuts, while a weaker dollar and lower US Treasury yields limited losses as the market awaited further economic clues. A strong jobs report could lead the Fed to take a cautious stance on rate cuts. Investors' attention will turn to Wednesday's ADP jobs report and a speech by Fed Chairman Jerome Powell before Friday's jobs report. Risk data warning! US November ADP employment change data will be released. This data is known as the "small non-agricultural" and is expected to trigger a big market trend. The US November ISM non-manufacturing purchasing managers' index (PMI) will be released, expected to be 55.5. St. Louis Fed President Moussalem will give a speech and the Fed will release the Beige Book on economic conditions. Fed Chairman Powell will be invited to be interviewed at the DealBook/Summit conference hosted by the New York Times. Gold trend analysis and interpretation! As for gold, although the sharp drop on Monday bottomed out and rebounded, in the short term, we believe that it will run around Monday's time, but the sign of strength is to immediately recover the lost ground. In the past two days, it has been slowly retreating, especially yesterday's market, which finally broke through the high point of 2655 and directly dived from the high platform. The US market continued to fall, so this pattern is extremely weak. For today, it is necessary to continue to be bearish and downward. Compared with the current price, it is not necessary to go short directly. Similarly, it is not necessary to go long. In this tangled position market, it is necessary to use the European market, that is, the intraday strength and weakness to layout today's trend. Because this trend is volatile, special attention should be paid to the intraday suppression and sideways trading. Like yesterday, pay attention to the resistance of 2655 and choose the opportunity to open a short position. Gold point: rebound 2652-55 short, defense 62, target 2630-20 line!
TVC:GOLDShort
by Yuliya1l11
A Brief 57-Year History of the DollarThe year 1971, when the Bretton Woods system ended, marked a period where the dollar's value followed a volatile trajectory of ups and downs—until 2008. The global financial crisis was another turning point, and since then, the dollar has been steadily appreciating. This trend is expected to continue, at least until another significant pivot point emerges. Will such a critical turning point occur during Trump’s second term? That remains to be seen. However, one thing is clear: the dollar seems poised to keep gaining value.
INDEX:DXYLong
by The_Quantastic
1
POWERGRID MAY FALL DUE TO DOUBLE TOP FORMATION DOUBLE TOP FORMATION : powergrid has formed a perfect double top pattern on weekly timeframe and seemed to be positioned for further fall. Although it had shooted up suddenly 2 weeks back due to the uncertainty which bubbled up surrounding maharashtra election which affected whole whole stock market. But after the release of the election results it has started going down again BEARISH DIVERGENCE : Apartfrom double top it has also formed strong bearish divergence pattern on the chart with 2 divergent peaks having formed on chart & rsi 4th mar & 29th july respectively indicating strong bearish momentum for powergrid BEARISH MACD : macd indicator has also become extremely bearish with macd line hovering below signal line by large margin PROFIT TARGET : The stock will fall till 299 level which is 22 points away from current level
NSE:POWERGRIDShort
by peace_lover
Is Solana Gearing Up for Another Rally?Since early October 2023, Solana has experienced an impressive 1,000% growth, reaching its peak on March 18, 2024. Following this significant rally, the price entered a corrective rectangle pattern, retracing 50% of the previous wave and preparing for the next upward move. After breaking out of the corrective pattern and achieving notable growth, Solana has now formed a zigzag corrective pattern. The price retraced from the 38.2% Fibonacci level, which aligns with the March 18, 2024 peak. Additionally, the price has shown a positive reaction to the midline of the ascending channel. Given this structure, it is expected that Solana will continue its upward trend and touch the upper boundary of the ascending channel. If you found this (SOL) analysis helpful, let us know by hitting the like button! 💙 Where do you think Solana is headed next? 🚀 Drop your predictions and insights in the comments section below! 👇
Long
by Market-Analyzer