Gold- at important junctureYesterday, after the second test, XAU/USD reversed from 2390 and reached the 2420 resistance zone.
However, last week's drop was impulsive and might only be the first leg of an overall correction within the long-term bull trend.
The rise to just under 2400 appears corrective so far, suggesting we might see another drop below 2400 and eventually a drop below the 2390 support level.
In my opinion, short trades are favored, and the 2420 zone is crucial for traders to watch. However, if the price breaks above this zone, it would indicate a false down break and give an advantage to the bulls, with a new all-time high in sight.
Signalservice
Trading minute impulseOn the minute timeframe of XAUUSD at the moment we have the completion of the impulse formation. If the price continues to move in the direction of the impulse and the support zones do not allow it to overcome the base of the impulse, it may reach the targets 1 and 2. If the price fails to advance in the direction of the momentum and overcomes the support zone at the base of the momentum, it is very likely that the price will move sideways or against the direction of the momentum.
Lingrid | GOLD selling OPPORTUNITY at KEY ResistanceThe price perfectly fulfilled my last idea. It hit first target at 2430. OANDA:XAUUSD has broken below the critical 2400 level following the release of unfavorable news for gold. Given the current momentum, I think it's likely that the market will retest this lower levels. I anticipate that the price may even drop below 2350 to absorb any remaining liquidity. If the upcoming Core PCE data fails to propel the price higher, I expect the market to fluctuate upward and downward before potentially resuming its previous trend. My goal is the support around 2350.
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Lingrid | AUDNZD in the Bullish TREND. LongFX:AUDNZD has pulled back from the resistance zone, despite the overall bullish trend remaining intact. Notably, the price broke and closed above the prolonged consolidation zone on the daily timeframe. The price action is forming a two-legged pullback against the main trend. After falling below the previous week's low, this could potentially be a fake breakout, which would be followed by a continuation of the uptrend. I believe the market will consolidate in this area before resuming its upward movement. I expect buying opportunuty at lower border of the channel. My goal is resistance zone at 1.10790
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Lingrid | SOLUSDT pullback TRADE. Long from SUPPORT levelThe price perfectly fulfilled my previous idea. It hit the target level. BINANCE:SOLUSDT has pulled back from its resistance zone, forming a first top, and is now retracing towards the range zone that typically serves as both support and resistance. As the market enters a correction phase, I think the price may find a support level below 170, near the upward trendline. On the weekly timeframe, we see a large bullish candlestick indicating significant buying pressure. If the price can maintain its position above this support level, I anticipate a continuation of the bullish trend. My goal is the resistance zone 184.30
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EurAud- Important break could lead to 1k pips riseAfter a recent dip to the 1.6 zone and a period of consolidation, the EUR/AUD has reversed strongly over the past two weeks, leading to a significant breakout.
As shown in the chart, following an initial upward movement lasting about a year, the pair corrected and consolidated within a falling wedge pattern for another year.
Currently, we see a clear breakout above the falling wedge's resistance, which could lead to a rise of approximately 1,000 pips in the medium to long term.
Swing and positional traders might consider buying on any dips around 1.64, aiming for a target of 1.75, while keeping the interim resistance and falling wadge's target at 1.7 in mind.
Lingrid | GOLD Weekly MARKET AnalysisOANDA:XAUUSD market experienced another strong rally this week, showcasing significant momentum. However, it ended the week with a pullback, closing below the weekly open price level. Despite this, I believe the recent pullback may present a buying opportunity, given the overall bullish trend remains intact on the weekly timeframe. The last weekly candle formed a long-tailed bar, indicating bearish pressure was present since the europe chose not to cut rates this week, and that may have caught some trader off guard. Therefore I anticipate the market to consolidate in a sideways range between 2350 and 2450 before resuming its upward trajectory, ultimately reaching the next key resistance zone at 2500.
On the daily chart, the market broke and closed above the previous resistance level at 2450, indicating a continuation of the trend. As the price approaches the 50% to 61.8% Fibonacci retracement levels, it may find support there. Overall I expect short-term pullbacks to be absorbed by buyers at these levels, potentially forming a long-tailed bar that would signal a bullish move.
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Lingrid | EURUSD possible Selling OPPORTUNITYFX:EURUSD reached the resistance zone, but was subsequently pushed back down. Following the recent news release, the market saw an impulsive move lower, and I believe it's likely to test the support level at 1.08000 below due to the significant selling pressure that's been building up above. The price action has already cleared out liquidity above the previous high, suggesting that the market is poised to move lower. I'm expecting a rejection of the resistance level, which would confirm bearish dominance and provide a clear signal to sell the market. My goal is to support level around 1.07900
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Lingrid | AVAXUSDT Break and RETESTThe price perfectly fulfilled my previous idea. It hit the target level. BINANCE:AVAXUSDT has been trending upward, recently breaking through the key level at $30.00. The market closed with a large bullish candle last week, and now it's testing the approximately 50% of that weekly range. After breaking out above a strong level and pulling back to retest it, we're seeing a classic break and retest setup. Given this setup, I'm expecting a classic pullback and continuation pattern to unfold, with the price potentially retracing before resuming its upward movement. My goal is the resistance zone around 32.70
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Trading minute impulseOn the minute timeframe of XAUUSD at the moment we have the completion of the impulse formation. If the price continues to move in the direction of the impulse and the support zones do not allow it to overcome the base of the impulse, it may reach the targets 1 and 2. If the price fails to advance in the direction of the momentum and overcomes the support zone at the base of the momentum, it is very likely that the price will
Lingrid | GBPAUD counter TREND trading OPPORTUNITYThe price perfectly fulfills my last idea and reached support level. The market is approaching the March high, a key resistance area where the price has bounced off in the past. I expect that if the resistance rejects the price again, it may lead to a pullback down to test the support level. This could manifest as a double top or bearish divergence, indicating a potential reversal. In anticipation of this short-term pullback, I'm looking for a counter-trend opportunity to enter at the resistance zone and channel border, setting up for a potential entry point. My goal is to support level at 1.93570
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Lingrid | DOGEUSDT bounced off the DEMAND zoneBINANCE:DOGEUSDT formed a double top at the resistance zone and subsequently pulled back. On the weekly timeframe, the market bounced off a demand zone, resulting in a large bullish candle. On the daily chart, it created another bullish long-tailed bar at a support level, indicating significant buying pressure. When we zoom out, we can see that the market has respected the 0.1300 zone in the past. The price has surged from this support area twice before, which suggests that a break and close above this level could be a very bullish sign. I anticipate that the market to pull back temporarily before continuing its upward trajectory. My goal is previous resistance at 0.14400
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Bitcoin- Buy and hold on dipsIn my recent BTC post, I mentioned that the break below $60,000 is most likely a false one.
This proved to be correct, and the price has returned towards the important $70,000 zone.
At this moment, BTC could enter a correction phase from the recent upward movement.
This correction should be seen as a buying opportunity, potentially leading to a new all-time high this year.
XAUUSD Tuesday's trade ideas. Good evening gold gang i hope you are well! ... 2 losses today trying to catch buys! the fundamentals were wrong from the war to rise gold .. instead we got bearish price action due to the president so all day we fell until hitting the marked out 4 hour zone. I couldnt take that buy as id already lost 2 which is my daily limit
Whats happening tomorrow?! .. well the 1h EG zone respecting will provide further bearish action with a potential target of algo level.
a break above 2412 area will be good for the buys confirmation but with no news until wednesday, im not sure we will achieve that.
lets have a better day tomorrow gang!! im looking forward to it already
have a good evening, catch you in london
tommy
Gold could go down furtherIn my analysis yesterday, I mentioned that gold could drop below $2400, and indeed it did. After touching the support zone around $2390, the price reversed to the upside.
However, the bulls seem weak and unable to sustain the price above $2400, with the price now pressing against the support.
A break below this level looks probable, and the price could drop further to the important support at $2350. My strategy is to sell rallies above $2400.
BX Blackstone Options Ahead of EarningsAnalyzing the options chain and the chart patterns of BX Blackstone prior to the earnings report this week,
I would consider purchasing the 140usd strike price Calls with
an expiration date of 2024-10-18,
for a premium of approximately $6.70.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Gold could drop back under 2400Last week, gold reached a new all-time high, almost hitting $2500.
However, the market started to reverse on Wednesday, and XAU/USD finished the week at $2400, forming a large pin bar on our weekly chart.
On the short-term chart, we also see that the recent ascending trend line has been broken, which also has bearish implications.
In my opinion, gold will drop below $2400, and selling rallies should be a good strategy.
Lingrid | EURUSD potential long TRADE from the SUPORT zoneThe market has pulled back, with bears pushing the price towards the support zone. FX:EURUSD has pulled back from its resistance zone, forming a long-tailed bar on the weekly timeframe, which suggests that a deeper pullback is possible. Currently, the market is trading sideways, forming a box. Below this box, we have a confluence area that includes a support level at 1.08500, a channel border, and a trendline. Given that the price has bounced off this level before, I believe it's likely that the market will move up from this area. Overall, I expect the price to head higher, possibly retesting the recent resistance zone above, considering that the overall trend remains bullish. My goal is resistance around 1.09180
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
Trading minute impulseOn the minute timeframe of XAUUSD at the moment we have the completion of the impulse formation. If the price continues to move in the direction of the impulse and the support zones do not allow it to overcome the base of the impulse, it may reach the targets 1 and 2. If the price fails to advance in the direction of the momentum and overcomes the support zone at the base of the momentum, it is very likely that the price will move sideways or against the direction of the momentum.
XAUUSD All eyes on the open! big news!! Good evening gold gang, its that time once again ... market open. THIS TIME its different with big news coming from the war and president Biden pulling out of the race .. its gonna get spicy this week
Price finished up last week and the weekly support so technicals are pointing bullish .. war news bullish too but Biden news will be good for dollar i would imagine so that would be bearish for gold
there is a nice 4h zone below current price right now which may get tapped at the open in order to buy from but that will be shown at the open at 11pm uk time
im expecting a bullish week! .. but as usual we just react to current price in session and take the crumbs the big boys leave behind
lets have a monster week like we did last week gold gang
hit the like button if you BELIEVE
catch you in london
tommy
BTCUSDT Headed for more than 7% Drop?Hey Realistic Traders, let's dive into the technical analysis of BINANCE:BTCUSDT
Bitcoin is currently trading below the EMA90 line, indicating a bearish trend . The breakout from the rising wedge formation further confirms this downtrend. Additionally, the momentum indicator has revealed an MACD bearish crossover, reinforcing the negative sentiment . This crossover, marked by the MACD line crossing below the signal line, underscores increased selling pressure and suggests a potential downward movement. Therefore, these combined technical signals collectively suggest a continuation of the bearish trend, with our initial target set at 58,093 or potentially dropping further to the second target at 55,742.
Disclaimer: "Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on Bitcoin."
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