XAUUSD - Daily | BREAKOUT IncomingSimple Trading - Ascending Triangle
Gold is overall bullish so if the pattern breaks, it should break to the upside. Of course, if gold can not maintain bullish momentum, it may result in a further decline in the price.
This pattern may not break out until the end of Dec. maybe into Jan. with this in mind we are still about to take price action trades on the smaller time frames.
Levels to look out for:
BULLISH:
2673 - 4hr FVG low
2683 - 4hr FVG High
2700 - supply and demand
BEARISH:
2624 - 1hr Head and Shoulder Target
2610 - Daily FVG High
2590 - Daily FVG Midpoint
2575 - Daily FVG Low
2560 - Daily Double Bottom
US30
US30 Short Idea based on monthly-minute breakdownAfter thorough breakdown i see US30 diverging in the weekly & hourly TF, after that I measured the daily-weekly moving average and concluded that it has finished the average pip movement before usual daily retracements. So after deciding it will be bearish I’m looking for a bullish retracement in the 1min-15 min TF to the 45100 area where I’ll be looking to place my SELLS. TP targets have been set from TP1-TP6 (Make sure to set to break even after TP1 hits if deciding to swing trade). Bulls usually control December so I did mark up the possible bullish scenarios from the 1st 4 TPs. Let’s see if US30 can FEED US !!
US30 Bearish To Bullish Play for the WeekAfter following US30 on the way down through a beautiful 1hr-4hr TL we might finally be getting to our final target 43,550. Will look for a slight move to the upside touching the sell limit which will then propel back down for another bearish move, after reaching 43,550 I expect sideways movement consolidating for a couple days/weeks hopefully giving us a clear view for a bullish set up in the process. I expect a Major move back up potentially creating new highs into 2025. 43,550 is the end of the daily average move and it will meet with a weekly trendline as it hits the weekly support zone. Let’s see if the streak on US30 continues.. May the markets be w us..!
P.s only way I would switch my bearish outlook is if we break through 44,150 following a break through 44,300 into full bullish territory
Bullish momentum to extend?Dow Jones (US30) is falling towards the pivot which acts as an overlap support and could bounce to the 1st resistance.
Pivot: 43,318.65
1st Support: 42,643.34
1st Resistance: 44,526.39
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GOLD FURTHER SELL OFF?! (UPDATE)Haven't had time to update recently as I've been extremely busy, but either way Gold has been paying us in the background!
We got that rejection from Wave 2 & a huge melt back down again towards the bottom of this 'Flat Correction' channel which I called for you all. Now waiting on Wave 3 to make its huge move down📉
US30 long for this weekAll timeframes point towards US30 going long.
Monthly:
November's candlestick engulfed October's candlestick.
Price has been on a severe uptrend and does not look like it will stop.
This month we have seen a minor retracement that indicates price is collecting orders before it continues going up.
Weekly:
We have seen a three pin pattern before price started retracing which indicates that price will continue to go up.
Currently, price is retracing in order to find a major spot for liquidity where it will collect buy orders.
The high liquidity region seems to be 43,500 since that is where a lot of buy orders were filled in the past.
Daily:
Price had a target of 45,600 which was not hit. This indicates that price is retracing to a level that it will collect orders.
On the daily, the region with the most buy orders are 43,300.
4 hour:
This is the best timeframe to tell where real liquidity lies.
As we can see, the most buy orders were filled at 43,400
HENCE, THE HYPOTHESIS FOR THE WEEK, IS TO WAIT FOR PRICE TO GO TO 43,400, WHERE WE WILL LOOK TO BUY
US30 H4 | Potential Bullish Bounce ?Based on the H4 chart analysis, we can see that the price is falling to our buy entry at 43,502.40, which is a pullback support close to the 78.6% Fibo retracement.
Our take profit will be at 43,502.40, a pullback resistance.
The stop loss will be placed at 42,720.14, which is a pullback support level.
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US30 - Once A Castle, Always A Castle!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈US30 has been bullish , trading within the rising channel in blue.
After rejecting the $45,000, has been in a correction phase and approaching the lower bound of the channel.
Moreover, the zone marked in green is a strong structure.
🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the structure and lower trendline acting as non-horizontal support.
📚 As per my trading style:
As #US30 approaches the blue circle, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
DOW JONES: Neutral 1D means buy opportunity.Dow Jones is neutral on its 1D technical outlook (RSI = 53.536, MACD = 330.150, ADX = 20.923) as it is on the bearish wave of the 4H Channel Up, towards the 4H MA200, which on November 19th priced the last HL. The 4H RSI got oversold and rebounded today above its MA period, which twice before has been a buy signal. We are going long here, aiming at the 1.382 Fibonacci extension (TP = 45,400).
See how our prior idea has worked out:
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$USIRYY -U.S CPI (November/2024)ECONOMICS:USIRYY
(November/2024)
source: U.S. Bureau of Labor Statistics
"US Inflation Rate Rises to 2.7%, Matching Expectations "
-The annual inflation rate in the US rose to 2.7% in November,
from 2.6% in October and matching markets expectations pushed up by food cost.
On a monthly basis, the CPI increased by 0.3%, the most since April, slightly above October's 0.2%, driven mostly by higher prices of shelter.
GOLD FURTHER SELL OFF?! (UPDATE)Gold overall is still holding bearish. I originally expected a ‘Flat Correction’ on the lower bound of the range, but price is now creating that same correction, on the upper bound of the range. Market analysis is still valid & I’m still holding my sell position’s open.
Market structure would be invalidated if price broke ABOVE previous Wave 5 high.
GOLD FURTHER SELL OFF?! (UPDATE)Gold overall is still holding bearish. I originally expected a ‘Flat Correction’ on the lower bound of the range, but price is now creating that same correction, on the upper bound of the range. Market analysis is still valid & I’m still holding my sell position’s open.
Market structure would be invalidated if price broke ABOVE previous Wave 5 high.
DOW JONES 25-year Cycles show the clear picture you should know.Almost 8 months ago (April 12, see chart below), just when Dow Jones (DJI) was recovering from April's correction, we sent a clear message not to lose sight of the greater picture and to stay bullish:
The reason was the index' clear cyclical pattern since the February 2009 bottom of the U.S. Housing Crisis. The index has grown by +17% since that analysis (from 38459 to 45080) and we can't see a reason not to complete the pattern and hit our 48850 Target, which is our projection for this Cycle's Top.
On this updated chart is on the 1W time-frame, in contrast with April's which was on the 1M, we have added to key elements. The Channel Up that is dictating the pace of the Bull Cycle since the Feb 2009 bottom and the Fibonacci retracement levels, which show that after the Bull Cycle topped, the subsequent Bear Cycle corrected within the 0.236 - 0.382 Fibonacci Zone at least before the bottom was formed.
In fact, all Cycles hit the 1M MA50 (blue trend-line) upon the Bear corrections and those didn't start before the 1W MA50 (red trend-line) was broken (1M candle close below). Our 48850 Target is technically the minimum estimate as that was the % rise of the previous one (Cycle 4), which was the least aggressive compared to others (Cycle 3 = +77.19%, Cycle 2 = +75.09%, Cycle 1 = +99.62%). If Cycle 5 peaks higher, we will draw the Fibonacci retracement levels from that top and re-adjust our expected 0.382 Fibonacci bottom for the Bear Cycle (or if the 1M MA50 gets hit first).
As far as timing of the Cycle 5 Top is concerned, we expect that to be on December 2025 the earliest, again based on the Cycle with the minimum time length (Cycle 3), excluding Cycle 1 which was the most aggressive as it was the first after the U.S. Housing Crisis bottom.
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US30 Is Bullish! Buy!
Here is our detailed technical review for US30.
Time Frame: 12h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a key horizontal level 44,204.8.
Considering the today's price action, probabilities will be high to see a movement to 45,600.0.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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Bullish bounce?DJ30 is falling towards the support level which is a pullback support that lines up with the 50% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 44,106.94
Why we like it:
There is a pullback support that aligns with the 50%^ Fibonacci retracement.
Stop loss: 43,791.93
Why we like it:
There is a pullback support that lines up with the 61.8% Fibonacci retracement.
Take profit: 44,547.96
Why we like it:
There is an overlap resistance level.
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Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
DOW JONES cyclical trend points bottom is near.DOW JONES / US30 is trading inside a Channel Up pattern for the past 4 months.
Right now it is on a technical pullback towards the 4hour MA200, having already crossed under the 4hour MA50.
The 4hour MA200 was the level that supported the previous pullback that bottomed on November 19th.
Inside this pattern, every pullback corrected to the 0.5 Fibonacci level and was a buy opportunity while the 4hour RSI turned oversold under its 30.00 level.
Time this buy entry and target 45600, which is the 1.236 Fibonacci extension, the level that priced all prior highs inside this Channel Up.
Previous chart:
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