Trading Plan for Friday, May 3rd, 2024Trading Plan for Friday, May 3rd, 2024
Market Sentiment: Bulls maintaining a tentative lead ahead of multiple high-impact market events (Apple Earnings and Jobs Report). Expect extreme volatility and plan accordingly.
Key Supports
Immediate Supports: 5068 (major), 5054 (major trendline - note this level rises daily)
Major Supports: 5028 (major), 5001 (major)
Key Resistances
Near-term Resistance: 5081 (major), 5102 (major), 5116 (major), 5136 (major)
Major Resistances: 5155-58 (major), 5191 (major), 5208 (major)
Trading Strategy
Earnings and Jobs Volatility: Be prepared for unpredictable, potentially violent price swings triggered by the Apple earnings release (4:30 PM EST) and the jobs report (8:30 AM EST). Prioritize reacting to price action over anticipating.
Capital Preservation: Adopt a cautious approach and consider reducing position sizes or even sitting out the immediate volatility. Focus on protecting your gains from today's squeeze.
Long Opportunities: Due to the heightened risk, avoid direct bids at support. Prioritize failed breakdowns with flushes and reclaims for safer long entries. In the event of a deep flush, consider knife-catches at major supports (5028, 5001).
Short Opportunities: Look for back-tests of 5116 and 5136 for shorts, but only if markets exhibit a strong negative reaction to earnings or positive jobs data. Proceed with extreme caution.
Focus on Levels: Use the provided support and resistance levels to guide your decisions, regardless of the volatility. Pay close attention to failed breakdowns and setups, as they will be the most reliable in this environment.
Bull Case
Holding Support: Defending the 5054-50 support zone remains crucial.
Reclaiming Resistances: Bulls need to push above the 5081 resistance zone after any potential sell-off on events, working back towards 5116, then 5136 for further confirmation and a potential sustained breakout.
Bear Case
Breakdown Signals: A convincing break below 5054-50 initiates the downside move. Watch for bounces/failed breakdowns for potential short entries. Be mindful of whipsaws and traps around major events.
News: Top Stories for May 3rd, 2024
Impact of Monetary Policies:
U.S. Monetary Policy and Global Markets: Contractionary policy affects global financial conditions through various channels.
Responses to U.S. Policy Shifts: Tightening policy induces global deleveraging and affects asset prices and credit flows.
Emerging Markets' Sensitivity: EMs experience volatility and capital outflows due to U.S. policy changes.
Transmission Mechanisms: Policy changes influence dollar-denominated assets, global credit conditions, and bank behavior.
Long-Term Implications:
Global Trade Outlook: Modest rebound in 2024 challenged by interest rates, demand fluctuations, and geopolitical tensions.
Manufacturing Sector Performance: Continued uncertainty with challenges like labor shortages and supply chain disruptions.
Advances in Digital Manufacturing: Adoption of digital twins and smart tech enhances operational efficiencies.
Geopolitical Impact on Trade: Persistent tensions disrupt global trade, highlighting vulnerability of supply chains to political instability.
Tradingview
GOLD.. still holding his supporting level? Hold or not??#GOLD... market still holding his supporting area as we told you in our video analysis.
Guys we have only 2294 95 as immediate and most important supporting area for today,
Keep close it and if market hold it in that case you can see a bounce from here ..
Upside areas mentioned on chart..
Only invalidate buying below ,2294
Good luck
Trade wisely
USOIL - at his supporting area?? holding or not?#USOIL - well guys market very well placed 79 arround low and that was our targeted area as we discussed in our last idea,
that is market very important supporting area as you can see in 4 hour chart history,
if market hold that area in that case you can see a bounce from that level,
keep close it and only hold your buying positions above that level,
good luck
trade wisely
27 Articles That Helps You to Avoid MONEYGONE PatternAre you tired of feeling like your money disappears into thin air? Say goodbye to the ' MONEYGONE ' pattern with our collection of 27 articles packed with tips and tricks to keep your finances on track.
In #VestindaTips we've put together this big guide all about how prices move and patterns in trading.
Whether you're new to trading or you've been doing it for a while, we want to give you helpful info to understand the ups and downs of the financial world. So, let's learn together and get ready to navigate those tricky markets!
Dynamics of Bull Market Cycles:
Understanding the ebbs and flows of bull markets is essential for capitalizing on upward trends. Dive into the intricacies of bull market cycles to identify opportunities and optimize your trading strategies.
Dynamics of Bear Market Cycles:
Conversely, bear markets present unique challenges and opportunities.
Explore the dynamics of bear market cycles to mitigate risks and maximize profits during downward trends.
Diamond Pattern: How-To Guide:
Uncover the secrets of the diamond pattern and learn how to recognize and interpret this rare yet powerful formation in trading.
Drawing Trendlines: A Practical Guide:
Master the art of drawing trendlines with precision and accuracy. This practical guide offers valuable tips and techniques to identify trends and make informed trading decisions.
Think You Know Candlestick Patterns?
Delve deeper into the realm of candlestick patterns and refine your understanding of these fundamental tools for technical analysis.
What is a Bearish Pennant Pattern?
Decode the mysteries of the bearish pennant pattern and discover how to spot this bearish continuation formation in the market.
Market Gaps: Strategies, Types, Fills, and Crypto:
Explore the phenomenon of market gaps and uncover effective strategies for navigating these price discontinuities across various asset classes, including cryptocurrencies.
Three White Soldiers:
Learn to recognize and interpret the significance of the three white soldiers pattern, a bullish reversal formation that signals a potential shift in market sentiment.
Bullish Pennant Pattern:
Gain insights into the bullish pennant pattern and harness its predictive power to identify lucrative trading opportunities in the market.
How to Island Reversal Pattern:
Navigate the waters of the island reversal pattern and understand its implications for trend reversal and market sentiment.
The Triangles: With Real-Life Examples:
Explore the various types of triangle patterns, including symmetrical, ascending, and descending triangles, with real-life examples illustrating their significance in technical analysis.
Cracking the Short Squeeze:
Demystify the phenomenon of short squeezes and learn how to capitalize on these explosive market dynamics for potentially substantial gains.
Hammer of Trend Change:
Discover the hammer candlestick pattern and its role as a potent signal for trend reversal, providing traders with valuable insights into market dynamics.
Basics of Elliott Wave Theory:
Unlock the foundational principles of Elliott Wave Theory and leverage this powerful tool for predicting market cycles and trends.
The Core Confirmations Every Trader Must Know:
Equip yourself with essential trading confirmations to validate your analysis and make well-informed trading decisions with confidence.
What are Tweezer Top and Bottom Patterns?
Unravel the mysteries of tweezer top and bottom patterns and learn how to interpret these candlestick formations for identifying potential trend reversals.
How to Altseason Cycle || Cheat Sheet || Bitcoin Dominance:
Navigate the altseason cycle with ease using this comprehensive cheat sheet, complete with insights into Bitcoin dominance and its implications for the broader cryptocurrency market.
Rising and Falling Wedges Explained:
Understand the characteristics of rising and falling wedges and learn how to effectively trade these patterns for profit.
How to Head and Shoulders:
Master the head and shoulders pattern, a classic reversal formation that can provide valuable insights into market trends and potential trend reversals.
Double Top vs. Double Bottom Patterns:
Distinguish between double top and double bottom patterns and learn how to identify and trade these reversal formations effectively.
Triple Top vs. Triple Bottom Patterns:
Explore the nuances of triple top and triple bottom patterns and their implications for market trends and price action.
DIVERGENCE CHEATSHEET:
Decode divergence patterns with this comprehensive cheat sheet, providing invaluable insights into market dynamics and potential trend reversals.
Supply and Demand Zones: Buying Low, Selling High:
Master the art of identifying supply and demand zones to capitalize on optimal entry and exit points in the market.
Ascending Channels: The Guide:
Navigate ascending channels with confidence using this comprehensive guide, complete with strategies for trading within these bullish formations.
Wyckoff Accumulation & Distribution:
Unlock the secrets of Wyckoff accumulation and distribution phases and learn how to spot these market manipulation tactics for profitable trading opportunities.
The Cup and Handle Pattern in Trading:
Discover the cup and handle pattern, a classic bullish continuation formation that can signal significant uptrends in the market.
The ABCD Pattern: from A to D:
Explore the ABCD pattern and its role in identifying potential entry and exit points in the market, providing traders with a structured approach to trading.
With all the cool stuff you've learned from our guide on price action and patterns, you'll be ready to tackle the twists and turns of the financial world like a pro! It doesn't matter if you're just starting out or you've been at it for a while, getting the hang of these basic ideas is super important for making good trades and winning big. So, go ahead and dive in! Happy trading, everyone!
GOLD - at immediate support? whats next?#GOLD.. perfect move as per our video analysis,
now market at his supporting area means immediate supporting area, that is 2303
keep close it guys because if market hold it then a further buying side ride expected from here,
stay sharp here,
good luck
trade wisely
Trading Plan for Thursday, May 2nd, 2024Trading Plan for Thursday, May 2nd, 2024
Market Sentiment: Uncertain, with bulls holding a precarious position at a critical support level.
Key Supports
Immediate Supports: 5048-50 (major - note that this trendline rises daily), 5032, 5028 (major)
Major Supports: 5010 (major), 4968 (major), 4938-42 (major)
Key Resistances
Near-term Resistance: 5077-82 (major), 5102 (major), 5126 (major), 5136 (major)
Major Resistances: 5155 (major), 5197-5202 (major), 5246-50 (major)
Trading Strategy
Critical Support Test: Vigilantly monitor the critical 5048-50 support zone for signs of breakdown or sustained defense.
Long Opportunities: Due to heightened volatility, avoid direct bids at support. Instead, prioritize failed breakdowns with flushes and reclaims for safer long entries, potentially around 5032 or 5028. In the event of a deep flush, consider knife-catches at major supports (5010, 4968, 4938-42).
Short Opportunities: Look for back-tests of 5126 and 5136 for shorts, but only if a strong bearish reaction to FOMC is evident. Proceed with caution.
Risk Management: Maintain disciplined risk management and tighter stops in this volatile period.
Bull Case
Holding Support: Defending the 5048-50 support zone is crucial. A failed breakdown with a quick reclaim above 5032-28 could trigger a move higher.
Reclaiming Resistances: Bulls need to push back to 5077-82, with a potential retest of that resistance, then onward to the 5126-36 zone for further confirmation and potential breakout.
Bear Case
Breakdown Signals: A convincing break below 5048-50 followed by a deeper dip through 5028 initiates the downside move. Watch for bounces/failed breakdowns for potential short entries.
News: Top Stories for May 2nd, 2024
Analysis of Stock Market Trends:
U.S. Market Performance: Mixed responses post-Fed's rate decision, with slight Dow increase and S&P, Nasdaq declines.
Interest Rates and Inflation Concerns: Persistent inflation shapes Fed policies, influencing market dynamics.
Sector-Specific Trends: Tech sector drives market, but faces valuation challenges and regulatory scrutiny.
Global Market Influences: European markets resilient; contrasting approaches to interest rates and inflation with the U.S.
Investment Strategies:
Federal Funds Rate Stability: Fed maintains high rate amid inflation concerns, impacting market expectations.
Inflation Trends and Policy: Slow decrease in inflation complicates rate cuts, influencing investment decisions.
Global Impact: Fed's policies affect global markets, especially in emerging economies and those tied to U.S. standards.
Long-term Considerations:
Geopolitical Tensions: Conflicts threaten global supplies; Middle East escalation could disrupt oil production.
Economic Slowdown: China's slowdown poses risks globally, impacting markets and economic stability.
Inflation and Interest Rates: Central banks balance inflation control without hindering growth, posing risks.
Technological Transformations: Rapid tech changes create opportunities and risks, transforming labor markets.
Environmental Risks: Growing environmental concerns pose economic consequences, impacting industries.
GOLD - at today support? whats next??#GOLD.. it was fantastic move as we told you in today video analysis,
now market have 2296 as one of the most important support for today, if market hold that level in that case you can see a bounce from here,
only only buying invalidate below 2295 and that will be your cutt n reverse area on confirmation.
good luck
trade wisely
Trading Plan for Wednesday, May 1st, 2024Trading Plan for Wednesday, May 1st, 2024
Market Sentiment: Uncertain, with the potential for sharp swings amplified by the FOMC announcement. Increased caution and focus on capital preservation are paramount.
Key Supports
Major Supports: 5060 (major), 5043-47 (major), 5030-32 (major), 5000 (major)
Additional Supports: 4976 (major), 4938-41 (major)
Key Resistances
Near-term Resistance: 5066, 5077-82 (major), 5102 (major), 5144 (major)
Major Resistances: 5171 (major), 5200 (major), 5246-50 (major)
Trading Strategy
FOMC Volatility: Expect unpredictable price swings driven by reactions to the FOMC interest rate decision and related news.
Prioritize Capital Preservation: Focus on protecting your account rather than chasing aggressive moves. Adapt position sizing and risk management strategies accordingly.
Long Opportunities: Due to FOMC, direct bids are high risk. Focus on failed breakdowns for better risk/reward. Potentially long at major support levels after flushes and reclaims (5043-47, 5030-32).
Short Opportunities: Due to FOMC, direct shorts are also high risk. Watch for strong bounces and failed breakdowns. Consider shorts at key resistance levels only if the reaction to FOMC is definitively bearish. Proceed with extreme caution.
Level-to-Level Trading: Employ level-to-level scalping techniques and profit-taking, navigating this volatile environment with tighter stops.
Bull Case
Holding Support: Defending the 5043-47 support zone is crucial for bulls, with 5030-32 as the absolute minimum. Reclaiming resistances like 5066 could indicate buyer strength.
Bear Case
Breakdown Signals: A convincing break below 5030, intensified by negative FOMC news, signals a downside move. Watch for bounces/failed breakdowns for potential shorts.
News: Top Stories for May 1st, 2024
Global Economic Outlook
Mature economies are stabilizing with a slight growth uptick projected for 2024 and 2025.
Emerging economies maintain stability with growth projections at 4.3% for both 2024 and 2025.
Regional Trends
Asia, including China, anticipates a slowdown, while Latin America expects gradual growth increases.
Inflation and Monetary Policies
Global inflation is expected to decrease, reflecting central bank rate hikes for price stability and growth support.
Geopolitical Impacts
Populist policies and recent elections in the US and EU pose financial policy and market stability challenges.
Transition to a New Monetary Order impacts interest rates, asset values, and lending environments globally.
EU regulatory changes affect financial markets and trading regulations, emphasizing compliance.
Digital Transformation
Focus on digital assets and CBDCs outside the US signals shifts in financial transactions and regulations.
Blockchain technology enhances financial security and transparency, notably in DeFi platforms.
AI integration reshapes financial services, optimizing operations and decision-making processes.
Digital and open banking experiences exponential growth, fostering fintech innovations and collaborations.
RegTech solutions powered by AI help firms manage regulatory obligations efficiently across jurisdictions.
XAUUSD Long Setup: Bullish Reversal PotentialXAUUSD presents a compelling long opportunity, supported by confluence at key levels and oversold conditions. Geopolitical tensions and inflation worries add bullish tailwinds. Entry near support, stop-loss strategy, and target levels outlined. Exercise caution, manage risk diligently. #XAUUSD #TradingView #TechnicalAnalysis
GOLD - buying resume area ? Or not??#GOLD.. well guys market perfectly placed 2384 85 means near 80 day low and now little bounced back,
Now we have 2298 as immediate resistance area guys,
It will play important role in tomorrow, keep close it.
If market hold 2298 then you can see again selling pressure.
Good luck
Trade wisely
GOLD - at support of the week ? holding or not??#GOLD... well guys it was fantastic move as per our today video analysis,
as you can see market placed our today area 2312
that is support of the day , week and month guys,
keep close it and if market hold it only in that case you can see again bounce from here,
otherwise downside we have further area these are mentioned on chart.
good luck
trade wisely
Trading Plan for Tuesday, April 30th, 2024Trading Plan for Tuesday, April 30th, 2024
Market Sentiment: Bullish, within a consolidation period likely followed by a breakout. Exercise caution and patience with trades.
Key Supports
Immediate Supports: 5127-30, 5121 (major), 5108
Major Supports: 5083 (major), 5067 (major), 5039 (major)
Key Resistances
Near-term Resistance: 5136, 5150-55 (major), 5176 (major), 5191 (major)
Major Resistances: 5205-5208 (major), 5230, 5246 (major), 5270-75 (major)
Trading Strategy
Consolidation Breakout: Anticipate a breakout from the current 5120-5155 consolidation range. Plan accordingly for both bull and bear breakout scenarios.
Long Opportunities: Prioritize failed breakdowns at 5121 for potential long entries. Focus on bids within the current range and knife-catches on major supports if deep flushes occur (5067, 5039).
Short Opportunities: Due to the potential for a strong breakout, approach shorts cautiously. The 5176 and 5191 levels offer shorting opportunities, but with increased risk in the bullish environment. Utilize level-to-level profit-taking.
Risk Management: Implement disciplined risk management in this potentially volatile period.
Bull Case
Holding Support: Defending the 5120 support within the current consolidation range is crucial for bulls.
Breakout and Retest: Look for an upside breakout from the 5155 resistance area, followed by a successful retest for further confirmation.
Targeting Higher Levels: A breakout could trigger an upward move, focusing on targets at 5176, potentially extending to 5191.
Bear Case
Breakdown Signals: A convincing break below 5121 signals a downward move. Watch for a bounce/failed breakdown as an entry point for a short position, with level-to-level profit-taking.
News: Top Stories for April 30th, 2024
Market Dynamics and Corporate Earnings
Global Activity: High activity with 1,300 company earnings reports expected; Federal Reserve's FOMC meeting closely watched for rate decision insights.
Sector Highlights: Tech sector leads with major gains by Nvidia and Super Micro; Financials gain on rate cut hopes; Real Estate and Energy sectors lag.
Economic Indicators and Central Bank Decisions
FOMC Meeting: Coming up on 5/1
Jobs Data: Upcoming release expected to influence Fed's future decisions, especially on inflation control.
International Markets
Asian Markets: Mixed responses with Japan's Nikkei up and Shanghai Composite down.
European Central Bank: Anticipated to follow Fed with potential rate cuts amid inflation challenges.
Analysts' Projections and Market Sentiment
Future Rate Cuts: Initially expected in mid-2024, now possibly delayed due to persistent high inflation.
Investor Outlook: Cautiously optimistic but prepared for potential volatility due to uncertain monetary policy outcomes.
BITCOIN: HISTORICAL CYCLES AND HEALVING ROADMAP PART IITHIS CHART IS BASED ON HISTORICAL DATA
Let’s get to the chart.
Keeping in mind that this chart is based on Bitcoin at this time, it's quite important for the coin. Looking at historical prices, if we examine the first example, focusing on the first bit between the 2012 halving, the month before the halving was actually relatively neutral. We saw a slight uptick in the lead-up, once again following the next major market. If we look at the second example, we actually saw a major move to the upside within around one month of the Bitcoin halving, and then we experienced a short downturn before eventually continuing higher later in the market cycle. Then, looking at the 2020 halving example, of course, leading up to the halving, we had the global pandemic that crashed the market to the downside. However, we saw a major recovery one month before the halving. Following the halving, we actually saw some choppy sideways price action, essentially neutral action over the next month, and then we continued with the market much higher. Overall, in a very bullish time in the market right now, generally around the halving, we are usually trending in a bullish direction. Of course, we can see short-term bearish moves, but the larger trend is bullish. Additionally, we usually see a major market move in the process, at least over the next year after the Bitcoin halving.
Taking a look at the first example from the first Bitcoin to the ultimate market cycle, that was 370 days into the market top, exactly one year after the market. Looking at the second example, that was around 520 days after the Bitcoin halving to reach the market top. Then, looking at the third example, from the halving to the ultimate market top, that was around 540 days on average. From the actual Bitcoin halving to the next major market top, it takes around 450 to 500 days. Potentially, we could end up seeing the market topping out roughly around 2025, and then we could end up entering into the next market in the second half of 2025 because the next Bitcoin halving is likely to happen in early 2028. As you can clearly see on this chart, we usually end up seeing these markets occur right in the middle of these Bitcoin cycles. Simply based on history, this is the most likely outcome. Of course, nothing is guaranteed, but the most likely outcome based on historical data is simply seeing the market over the next year somewhere in 2025.
This chart will likely help you make better trade decisions if you consider upvoting it. I would also love to know your charts and views in the comment section.
Thank you.
Trading Plan for Monday, April 29th, 2024Trading Plan for Monday, April 29th, 2024
Market Sentiment: Bullish, following a multi-day rally. However, proceed with caution as a period of price discovery and more complex action is likely after the strong movement.
Key Supports
Immediate Supports: 5127 (major), 5117, 5102 (major), 5089 (major), 5082
Major Supports: 5068-72 (major), 5043 (major), 5034 (major)
Key Resistances
Near-term Resistance: 5150 (major), 5168-5171 (major), 5185 (major)
Major Resistances: 5206-5208 (major), 5230, 5245 (major)
Trading Strategy
Consolidation Anticipated: Expect a period of consolidation and complex price action after the recent surge. Overtrading can lead to losses.
Long Opportunities: Look for failed breakdowns at 5127 or 5102 as potential long entry points. Prioritize bids within the current range for a cautious approach.
Short Opportunities: Target the 5185 level (resistance of the downtrend channel) for possible short positions. Consider level-to-level profit-taking within the range.
Risk Management: Maintain disciplined risk management in this potentially volatile environment.
Bull Case
Holding Support: Defending the 5127 or 5102 major supports is crucial for bulls to maintain control.
Reclaiming Resistances: Bulls need to push above the 5150/5168-71 zones for a potential run to the next major target, 5185.
Adding on Strength: In an ultra-bull case, look for bull flagging above 5127 to add exposure in anticipation of an upward move.
Bear Case
Breakdown Signals: A convincing break below 5102 could trigger a deeper retracement. True bear case resumes with a break below 5033. As always, be wary of traps – look for a bounce/failed breakdown first, then consider shorting with level-to-level profit-taking.
News: Top Stories for April 29th, 2024
Equity Market Overview
Global Performance: S&P 500 and Dow Jones rose over 10% in Q1 2024; European and Asian indices also hit highs.
Sector Trends: AI boom fuels tech sector gains; value stocks participate more in market rallies.
Bond Market Dynamics
Interest Rates: Delayed rate cuts by the Federal Reserve impacting bond yields.
Performance: High yield bonds outperforming investment-grade due to favorable risk-return amidst volatile rates.
Key Economic Indicators
Inflation and Sentiment: Persistent inflation concerns; consumer sentiment improves slightly.
GDP and Employment: Strong GDP growth and employment figures support bullish equity market sentiment.
Market Outlook and Investor Sentiment
Short-Term: Continued growth expected, but potential for increased volatility.
Long-Term: Earnings growth modest in sectors like IT, significant in "Magnificent 7" companies.
Federal Reserve Policy and Market Outlook
Fed Stance: Maintains rates; cautious on inflation.
Market Impact: S&P 500's performance influenced by rate cut expectations; market may face limited growth post-rate cuts.
GOLD - at today resistance ? whats next??#GOLD.. what a move exact as per our video analysis, and now market at his today resistance area, that was our resistance area in last week but market placed 2352
now again if market hold that area then drop expected from here,
keep close that area because its your area for now..
selling invalidate above 2340 sustained,
good luck
trade wisely
#ETH FORMING FALLING WEDGE PATTERN!On the daily ETH chart, there's a notable pattern emerging, potentially forming a substantial falling wedge. Statistically speaking, a falling wedge tends to signal bullish momentum. About two-thirds of the time, a falling wedge pattern breaks to the upside, while the remaining third breaks to the downside. However, it's important to note that until we observe a confirmed breakout above the significant resistance level currently at around $3450, any price target remains speculative.
Once a breakout above this resistance level is confirmed, it sets up a bullish target at the top of the wedge, approximately at $4060. Additionally, another method to gauge the price target for a fall suggests a potential rise to around $4300. This implies a likelihood of the price returning to above $4000, contingent upon the confirmation of a breakout above $3450.
Nevertheless, it's essential to remain cautious as there could still be resistance encountered along the way, even after the breakout above $3450. Keep in mind that other levels of resistance may pose challenges to the price's upward movement. So, while there's potential for a bullish trajectory, it's prudent to monitor the situation closely for further developments.
#DYOR #NFA CRYPTOCAP:ETH BINANCE:ETHUSDT BITSTAMP:ETHUSD
GOLD - again retest today morning support, what's next?#GOLD.. as we discussed in our today analysis video that 2327 is the area and you can see how beautifully market hold in morning and placed upside targets.
Now market again placed a low near your level 2327
Keep close it guys because that is the area.
NOTE: keep cutt n reverse option in hand below 2327
Good luck
Trade wisely
GOLD - smoothly hold your resistance, now at support? holding?#GOLD. well guys market very well holding your upside today resistance that was 2349 50 and now market just placed our first targeted area 2341
well guys now we have downside immediate supporting area 2339 that is your area now, it will play key role in today next move,
keep close it,
its your supporting area for now.
next selling move will start below that level, otherwise not at all.
good luck
trade wisely
Trading Plan for Friday, April 26th, 2024Trading Plan for Friday, April 26th, 2024
Market Sentiment: Uncertain, with bulls maintaining short-term control but facing the after-hours earnings event, which could bring sudden volatility.
Key Supports
Immediate Supports: 5067, 5058 (major), 5048
Major Supports: 5036-33 (major), 5010 (major), 4996-5000 (major), 4935-40 (major), 4904-08 (major)
Key Resistances
Near-term Resistance: 5080-82 (major), 5092 (major), 5108 (major), 5126-29 (major), 5145-50 (major), 5177-81 (major)
Major Resistances: 5222, 5243-46 (major), 5272 (major)
Trading Strategy
Earnings Volatility: Be prepared for unpredictable price action and adjust your strategy in real-time.
Trading the Range: Expect price to play within the broad 5036-5126 range. Exercise caution and consider bids/shorts within the range rather than chasing direction.
Long Opportunities: Look for failed breakdowns at 5067 or 5058 after earnings. Focus on bids cautiously within the range, prioritizing the knife-catch protocol for deeper longs at major levels.
Short Opportunities: Look for backtests of 5126-29, 5145-50, or the major 5177-81 zone if reached. Given earnings, approach shorts very cautiously.
Profit-Taking: Use level-to-level profit-taking on any position taken, given the increased volatility risk.
Bull Case
Holding Support: Defending the current 5036-33 major support is critical.
Reclaiming Resistances: Bulls need to push above the 5108 zone for a potential run to the next major target areas of 5126-29 and 5145-50.
Bear Case
Breakdown Signals: A convincing break below 5036 triggers the downside move. As always, be wary of traps – look for a bounce/failed breakdown first, then consider shorting with level-to-level profit-taking.
News: Top Stories for April 26th, 2024
Economic Environment
March PCE inflation report and its impact on the Fed's policy decisions.
Apollo Global's acquisition of US Silica and implications for the materials sector.
Stock Market Updates
Mixed signals from global markets amidst geopolitical tensions.
Bank of Japan's interest rate policy.
Global Market News
Market response to various corporate earnings and announcements.
Additional Market News
Bond market dynamics and potential interest rate cuts.
Gold's performance and investment implications.
Currency market updates and the impact of the Bank of Japan's actions.
Additional Market Insights and News
Economic Indicators and Outlook
US GDP and Economic Growth: Analysis of the latest GDP report and its implications for growth trends.
Corporate Earnings Outlook: Forecasts for 2024 and sector-specific performance expectations.
Inflation and Interest Rates: Understanding the relationship between inflation, Fed policy, and corporate earnings.
Labor Market Dynamics: Assessing the health of the labor market and its impact on consumer spending and corporate profitability.
Technological Advancements and Market Shifts
Generative AI and Business Transformation: How is GenAI impacting decision-making and efficiencies in various industries.
Quantum Computing and Competitive Edge: Exploring the potential of quantum computing in various sectors and its implications for competitive advantage.
Sustainable Technology Initiatives: The increasing focus on green technologies and the integration of sustainability with innovation.
Industry Cloud Platforms (ICPs): Examining the adoption of ICPs and their role in accelerating digital transformation.
Reminder: The after-hours earnings events introduce major volatility risk. Prioritize risk management and adapt your trading strategy accordingly.
GOLD.. at today resistance? whats next?#GOLD.. perfect holding as per my today Video analysis,
market smoothly hold your area 2327 and bounced back,
now guys we have 2349 50 as immediate resistance area for today,
keep close it because further buying only can happen above that level,
if market hold it then downisde we have 2339 and 2332.
stay sharp.
good luck
trade wisely