Nice runThe SP has had a nice bull run the past 5 weeks. Now is hitting an important psychological and technical resistance at 500. It might try to break it on the upcoming days but I think it's going to pull back hard soon. I'm already taking profits I have cash sitting there until new opportunities come. I still have some long positions but I'm mostly in cash. Also I'm long in the Dollar on short term. Looks strong, I'm shorting AUD/USD and GBP/USD.
Don't be greedy, be smart and patient.
Dollarindex
DXY Bull Flag SetupHi Traders!
There is a bull flag pattern developed on the DXY 4H chart.
Here are the details:
The price action looks bullish, and the market looks like it is about to complete the consolidation phase in the flag's channel as the flag pattern is in its late stages.
The market is still above the 20 EMA, which is a bullish signal. As long as the market remains above the EMA and flag channel support, our view will remain bullish.
Preferred Direction: Buy
Resistance (FLAG CHANNEL): 104.669
Support (FLAG CHANNEL): 103.808
Technical Indicators: 20 EMA
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Trade safely and responsibly.
BluetonaFX
DXY, Elliott wave analysisOutlook for DXY on 4h chart.
There have been no changes since the last update.
we are in wave Y of a Double Zigzag WXY pattern.
If the assumption of this scenario is correct, wave Y will be completed soon.
At the same time wave Y completes, Upper-degree wave ⅱ will complete.
next phase is upper-degree wave ⅲ.
it will resume its downtrend.
Last time my idea.
■Feb 12, 2024. 1D, short-term analysis.
■Jan 28, 2024. middle-term analysis.
XAUUSD|Daily analysis and important areasHello friends, I hope you are doing well
You can see the gold chart in the 1-hour time frame.
In the analysis on Friday, it did not go according to my opinion and the related news caused fluctuations in gold, and as a result, selling pressure on gold increased.
The drawn resistance level prevented the price from moving upwards and from this level we saw the gold price fall.
Currently, it is in the demand area, but there are no signs of entering buying positions, and there is still more selling pressure.
The supply areas drawn on the chart, the 15-minute and 1-hour supply areas are good areas to enter sell positions.
With the failure of this demand area, which is currently facing the price, we can test selling positions by returning to this area.
DXY AnalysisBased on Simple Technical Analysis ( Trendline + Support & Resistance )
Risk Disclaimer:
Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in these analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
DXY, Elliott wave analysisOutlook for DXY on 1D chart.
I think the sub-waves of waveⅱ will likely form a Double Zigzag WXY pattern.
If this scenario is correct, we are in the sub-wave Y of waveⅱ. Waveⅱ may retrace to the Fibo level of 61.8 to 78.6% of wave ⅰ, shown by the red area.
After that, it will resume its downtrend.
Last time my idea.
■Jan 28, 2024. Short-term analysis.
GBPUSD|Important areas for entering a sales positionHello friends, I hope you are doing well.
We have a 4-hour time frame on the radar chart.
After its upward trend, it was in a neutral trend for a few days. This range and the support area that had prevented the price from falling many times have broken down.
Currently, by hitting the 4-hour demand area, it has moved upwards again, but because the general view is bearish and selling positions have a higher winning percentage.
Valid supply areas are marked on the chart.
When the price reaches these ranges, you can enter the position by seeing the candlestick patterns and price patterns in smaller time frames.
USD - FULL ANALYSIS [ICT Concepts]In the video I go through the timeframes in a top-down analysis, starting all the way from the yearly timeframe, down to the hourly timeframes. I share my thoughts on what I am looking for in order to build a bias for taking new trades.
The key indicator for me is the creation of new Fair Value Gaps (FVGs) and the disrespect of previous Fair Value Gaps. Occasionally, I add the confluence of Order Blocks and Breaker Blocks.
Hope this is insightful.
- R2F
If crude oil breaks down then USD can stop at resistanceHey guys,
Crude oil came down recently, which can help inflation to come down as well if energy market will continue to decline. In fact I see nice bearish pattern, so my assumption is that US yeilds and USD can be trading at resistance.
In this video I will also look at the chart of the 10 year US yeilds where I see greater chance for a drop to 3% rather than rally back to 5%.
Hope you will enjoy the content.
Grega
DXY Index New Week MovePair : DXY Index
Description :
Impulse Correction Impulse
Breakout the Upper Trend Line of the Corrective Pattern " BULLISH CHANNEL " in Short Time Frame
According to ELLIOT WAVES , It has completed " 12345 " Impulsive Waves and Corrective Waves " AB "
HEAD & SHOULDER as an Corrective Pattern in Long Time Frame
DXY Prediction (Continued)Great Case Study on the DXY from this recent push up. Now that we've cleared this most recent daily trend line to the high side, I'm expecting either a retracement after tapping the December High or continued dollar bullishness through Q1 until we reach higher. With rate pause to hold through March, we might see the dollar extend this bullish rally until we get closer to that time.
Non-farm payrolls surpriseThe US reported a gain of 353K jobs in January, nearly double the expectations of 180K. On top of upward revisions worth 126K.
Wages rose by 0.6%, double the expectations, and YoY they are up 4.5%, smashing estimates of 4.1%.
Excellent data meant a straightforward reaction, with minimal reversals and an ongoing extension. The US Dollar is up, Gold is down, and stocks are also down, on fears of higher rates, while ignoring the good news for the economy.
I expect the Dollar to remain on the rise for the remainder of the day. Any corrections will have to wait for Monday. Nevertheless, the odds of a rate cut in March are down, and only a dive in inflation could change that notion. In the meantime, the trend is clear.