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GOLD 05/11 OTE Order Block (OB) Zone: The chart indicates a strong resistance level in the red-shaded area labeled "-OB" around 2,750. This zone signifies a potential reversal or strong selling point if the price reaches there, aligning with an Overbought Trigger Event (OTE). OTE Zone: This Optimal Trade Entry (OTE) zone is marked in blue below the OB zone. It’s a significant level, usually associated with retracement and an ideal entry for short positions if price action confirms resistance. Support Levels: The green lines around 2,727 and lower levels indicate multiple support areas. They suggest potential bounce points if the price declines, aligning with the Fibonacci
OANDA:XAUUSDShort
by Engineer2008
2024-11-04 - priceactiontds - daily update - daxGood Evening and I hope you are well. tl;dr Indexes - Most went sideways today and we got some marginally lower lows. That was decent enough to disappoint bulls who were used to BTFD for a long long time now. I do think some expansion of the current range is possible but I doubt we get a bigger breakout tomorrow due to US elections. Will the election effect the market big time? No idea but my guess is less than many expect. Can either side end the party for the 0.1% and make them sell their overvalued stonkz? Probably not but I am open to surprises. My guess is we will chop wildy back and forth, like today’s US open. Bears will likely get their second leg down, but it’s too soon. dax xetra comment: 50% pullback of the current range from Thursday’s low to Friday’s high is around 19260 and we closed 19260. Market is in balance at that price and I expect more sideways before we get another impulse down. To guess if we hit 19000 before 19350, is impossible and you should not trade based on those questions. Middle of the range is the worst place for trades, so wait. current market cycle: trading range key levels: 18900 - 19400 bull case: My line in the sand for bulls continues to be 19400 and until they break that price, bears are in full control. For tomorrow I expect more buyers around 19000-19100 and I will continue to look for longs in that area, until it’s clearly broken. Invalidation is below 19000. bear case: Bears prevented bulls from printing 19400, which showed strength and bulls finally gave up around 2 p.m. cet where we broke below 19300. The selling was much weaker than Friday’s rally and already had 3 legs down. Maybe bears can push this down to 19000-19090 but I don’t think the odds are good to take that trade. Shorts above 19300 can work. Most important for now is to not get trapped into bad trades like shorting below 19200 or buying above 19350. Invalidation is above 19400. short term : Neutral. Market needs to move more sideways before we get another impulse, which will probably be down for a second leg. Will look for shorts above 19300. medium-long term - Update from 2024-10-19: 20000 is the goal for 2024, if bulls do not get it until year end, it will probably not happen for the next 5-10 years. This market is beyond overvalued and will drop 30-50% in the next 5 years. I have no doubts about that. That fact should not be relevant to your trading at all. current swing trade: None trade of the day: Shorting 19350 since it was bigger resistance and market tried 3 times to get above and failed.
EUREX:FDXSZ2024
by priceactiontds
XAUUSD - Gold Awaiting US ElectionsGold is below the EMA200 and EMA50 in the 4H timeframe. In today's analysis, I have drawn trade scenarios for you based on various confirmations In each circle we look for one-hour timeframe candles to confirm the expected trend. After a grueling and controversial campaign season, the US election will be held this week. Although many experts believe a clear winner is unlikely to be announced on Wednesday, much of the uncertainty surrounding the US political landscape is expected to ease next week, which may not bode well for gold. This precious metal had significant momentum last month due to the election fluctuations. Market analysts pointed out that the improvement of former US President Donald Trump's chances of victory and the creation of a potential "red wave" (a Republican victory) in Congress raised concerns about the continued unabated increase in government spending. In recent weeks, that fear has extended to either party's control of the White House and both houses of Congress. However, there is a famous saying in the financial markets for times like this: "Buy the rumor and sell the news." Last week, gold prices hit an all-time high above $2,800 an ounce as investors weighed in on rumors surrounding the US election. Dennis Gartman, a noted commodity investor, said he has become more cautious about gold as it draws more attention from investors. However, he added that despite any near-term weakness, gold's long-term fundamentals are well supportive of prices. "The main trend is still bullish," he said. Aside from the geopolitical turmoil created by this election cycle, gold remains well-supported by the sluggish US economy and labor market. In October, the US economy added just 12,000 jobs, well below expectations for 100,000 jobs. Some of the weakness can be attributed to fluctuations caused by cyclone devastation in southern states. However, looking beyond this volatility, sharp downward revisions in August and September suggest that the labor market is cooling. At the same time, this week we also saw that inflation is continuously increasing. The main measure of personal consumption expenditures, the U.S. central bank's preferred measure of inflation, showed that consumer prices held steady at 2.7% over the past three months. The Fed is stuck and will continue to cut interest rates as the labor market weakens. While interest rate cuts may not be as aggressive as they would like, higher inflation means lower real interest rates, which will hurt the US dollar and support gold prices.
FOREXCOM:XAUUSD
by Ali_PSND
Soybean Oil’s Red Pill Moment: The Short Signal Just Hit"You’ve been waiting, watching, wondering when the veil would lift. Today is that day." Soybean oil just crossed a threshold, one that turns theory into action. This isn't just a hint anymore; it’s a red pill moment. Today, we got the confirmation we needed: a Daily bearish momentum divergence trigger has sealed the deal. If you've been waiting for a sign, here it is—the entry point is here. Decoding the Signs from the Commitment of Traders (COT) "What if I told you that the market leaves clues? And only the most discerning see them." Our strategy isn’t based on surface-level movements but on patterns and signals that tell the deeper story. Soybean oil is primed for a down move. Let’s break down the intel: Commercials’ Short Stance Relative to their positioning over the last 26 weeks, commercials have positioned themselves heavily short. Last time they were this committed was December 2023, a setup that spelled trouble for the long side. Overvaluation Across Key Metrics Against gold and treasuries, soybean oil is flashing overvalued based on our WillVal indicator. This isn’t random; the market is overextended and vulnerable to the downside. Bearish “Pinch” Confirmation Two weeks ago, a Bearish Pinch formed on ADX/Stochastic—one of the most reliable indicators of an impending pullback. Today’s momentum divergence confirms it. The alignment is uncanny, if you’re paying attention. Seasonal Trends: Down to December True Seasonal points down, favoring the bears. It’s as if time itself is backing this move. Supplementary Indicators Are Aligned Insider Acc/Dis, %R, and Stochastic are all signaling in unison: the tide is turning. Each of these alone is meaningful, but together, they mark a rare convergence that few recognize. "The trigger is pulled, and now we walk the path." This isn’t a drill. Today’s bearish momentum divergence confirmation is the daily trend trigger we needed, a line in the sand between potential and execution. For those who see beyond the surface, this is your sign to take action. To uncover more of these market signals and gain the insights no one else is sharing, follow @Tradius_Trades. Because once you’re in on the code, everything changes.
CBOT:ZLZ2024Short
by Tradius_Trades
WTI Wave Analysis 4 November 2024 - WTI reversed from long-term support level 66.75 - Likely to rise to resistance level 75.00 WTI crude oil recently reversed up from the long-term support level 66.75 (which has been reversing the price from the end of 2021), standing near the lower weekly Bollinger Band. The upward reversal from the support level 66.75 continues the weekly upward impulse wave (3), which also started from the same support level in September. Given the strength of the support level 66.75, WTI crude oil can be expected to rise to the next resistance level 75.00 (former strong resistance from October).
THINKMARKETS:WTILong
by FxProGlobal