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Trendtrading

💡 GBPUSD: Wait to sell at the right opportunityThe most recent economic data indicates that the British economy is teetering on the edge of a recession, and members of the Bank of England may soon vote in favor of reducing interest rates. While the Bank of England is expected to maintain stable interest rates for an extended period, awaiting sufficient evidence to support multiple rate cuts, when these reductions do commence, they might be more significant than what the market anticipates. Current market expectations fall short of estimating the extent of rate cuts over the next two years, currently standing at just 85 basis points. As observed on the H4 chart, the GBP/USD currency pair is declining after a brief recovery. Geopolitical uncertainties are prompting investors to seek refuge in the US dollar due to its attractive swap rates, which are bolstering the USD's position. Meanwhile, market attention is focused on the 1.2000 threshold, and a breach of this level could potentially pave the way for the exchange rate to regress to 1.1850.
Short
by Stone_Haven
Mth-long Consolidation for Profits GBPUSD currently exhibits a Weaker Buy signal, accompanied by a 5-week long consolidation phase. Trading Decision Dilemma: The month-long consolidation prompts a crucial decision: Will it be a buying or selling opportunity? Buying Opportunity: For those inclined towards a buying stance, watch for the completion of the Bullish Butterfly Pattern at 1.1951 for a potential entry. Aggressive Selling Approach: Traders seeking a more aggressive move may consider the Bearish Butterfly Pattern on the 1-hourly chart, providing an opportunity to short at 1.2180. Now, the pivotal question arises: Bull or Bear? Which side aligns with your trading strategy? Share your thoughts below!
Short
by RaynLim
💡 GOLDOZ: Show Resilience with Second Consecutive Gain🟢Gold saw its second consecutive day of gains today, following yesterday's positive performance. On the daily chart (D1), the price exhibited significant upward momentum, with a wide trading range, but it closed approximately halfway between the high and low, forming a spinning top candlestick pattern. This pattern, known as a Spinning Top, typically indicates a market in balance, with supply and demand levels closely matched throughout the trading day. 🟢Notably, the previous day's D1 candle closed above the upper boundary, suggesting the possibility of overbought conditions and potential for a downward correction. The price faces a strong resistance near the 2,000 zone, which may prove challenging to surpass. Nevertheless, the overall daily chart structure for Gold remains bullish. 🟢Turning to the hourly chart (H1), Gold is currently trading within a relatively narrow price range, indicating a period of sideways movement. The formation of higher highs and higher lows on the H1 chart suggests upward pressure. Given the overbought condition observed on the D1 chart and the presence of significant resistance, traders monitoring the H1 chart may consider waiting for a pullback before considering long positions. 🟢However, should the H1 price break below recent lows and start trending lower, a downtrend on the hourly chart could emerge, providing an opportunity to explore short positions.
TVC:GOLDLong
by Stone_Haven
💡 XAUUSD: Next predictionGold saw an increase in value yesterday, but it formed a Spinning Top candlestick pattern. This pattern, known as a Spinning Top, indicates a balance between supply and demand throughout the trading day. The D1 candle closed above the upper boundary, possibly signaling an overbought situation, which could lead to a potential downward correction. Additionally, there is a significant resistance zone above, comprising the psychological level of 2000 and a previous peak. Given the overbought conditions, it is not advisable to pursue buying opportunities at this moment. On the H1 chart, gold is currently testing the resistance represented by the previous peak. Considering the overbought conditions on the D1 timeframe and the confluence of resistance levels, it is prudent to exercise caution when considering buying or chasing the price higher on the H1 chart. It may be more reasonable to wait for a potential price decrease before considering a buying strategy.
OANDA:XAUUSDLong
by Stone_Haven
BULLISH MOMENTUM In this trading idea, we'll explore a potentially profitable strategy for buying gold by utilizing a combination of technical analysis tools. We'll focus on key factors such as critical support levels, Fibonacci retracement levels, order blocks, and trend reversals. Support Levels : We'll closely monitor important support levels on the gold chart. These levels often act as significant barriers for price movement. A break below these levels can indicate a potential trend reversal or a strong bearish sentiment. Fibonacci Levels: Fibonacci retracement levels are essential for identifying potential reversal zones. We'll use Fibonacci analysis to pinpoint key levels where price may encounter resistance or support, offering valuable entry and exit points. Order Blocks: Understanding order blocks is crucial for spotting areas where significant buying or selling activity has occurred. We'll identify these zones to anticipate potential reversals or trend continuations. Trend Reversal: Recognizing signs of a trend reversal is vital for shorting gold effectively. We'll analyze various technical indicators and chart patterns to identify potential shifts in the trend direction. By combining these elements in our analysis, we aim to provide you with a comprehensive trading strategy for buying gold that maximizes profit potential while minimizing risk. Keep a close eye on these factors and stay prepared for potential market moves. Remember to perform your due diligence and risk management before executing any trades
OANDA:XAUUSDLong
by KarolinaKanova
USDCHF 27 FRI OCT BULLISH The price of USDCHF show bullish momentum 1) it broke down trend line , indicate reversal in momentum 2) the price broke resistance level and create bullish structure by making higher high and higher low 3) currently, price respect to the trend line. it bounces at the line to make higher high, so the trend is countinue. so here is my trading plan Using buy stop order when price break 0.9000 (current high) The Stoploss level is 0.89150 (3 previous lows) The Take profit level is 0.91650 (retracement 0.786 resistance) The risk reward ratio is 2 I decide to risk 1% of my portfolio The type of this trade is categorized as Reversal to retracement level.
Long
by kennkennntl
CRV/USDT 1-Day TF: Bullish Momentum ResurfacesBINANCE:CRVUSDT CRV/USDT has recently shown renewed bullish momentum on the 1-day timeframe. This suggests that market sentiment is shifting, with bulls gaining control. It is important to monitor this development closely, as it may present a favorable opportunity for traders and investors. Traders who are bullish on CRV/USDT may want to consider taking a long position with a stop loss below the recent swing low. Risk Management It is important to note that all investments carry risk, and there is no guarantee of profit. It is important to do your own research before making any investment decisions, and to risk only what you can afford to lose. Disclaimer: This is not financial advice.
Long
by ChartsInsights
💡 GOLDOZ: Sellers are now in a better position💡Gold is narrowing its range. Recently some news shows the strength of the USD is returning but the news of the recent war is still supporting gold 💡Currently, the battle between buyers and sellers is extremely fierce. Sideway gold was in a wide price range from 1965 - 1975. But the sellers seemed to be more dominant when gold turned around twice but failed. 💡Almost like an upside-down V-shaped reversal for H1 gold after the price first swept to the bottom and then pulled back up, forming a false break - creating a bear trap.
TVC:GOLDShort
by Stone_Haven
Gold Set To Take On $2000 Amidst The Middle East CrisesThe global markets often react to geopolitical events, and the rising Middle East conflict is a prime example, drawing investors' attention worldwide. This tension has amplified the demand for gold, a traditionally secure investment. The ongoing Israel-Hamas conflict underscores gold's safe-haven status. Gold prices have surged by 9% since October 6th. Looking back to August 2020, prices have ranged between $1614 and $2075. Such consolidations hint at a significant impending move so a breakout might be on the horizon. Recently, gold approached the crucial $2000 mark, a level that price last traded above in May 2023. Surpassing this could lead to price challenging its all-time high of $2081. With the Middle East conflict persisting, gold's appeal as a protective investment might push its prices to new records heights, even as the financial landscape remains unpredictable.
TVC:GOLD
by Sublime_Trading
💡GBPUSD: Next prediction💡Sterling strengthened after UK September services PMI was revised to 49.3 from the preliminary forecast of 47.2 - a forecast that may have influenced one or more of the Bank of England's five monetary policy committee members who voted to keep rates on hold last month member. 💡After the Bank of England kept interest rates unchanged in September, IMM speculators entered a net short position in the pound for the first time. As of the week of October 17, the net short position in the pound rose to 11,209 contracts.
Short
by Stone_Haven
💡 BTCUSD: Decrease after unexpected increase💡 The H4 BTCUSD uptrend persists as a result of the price surging to a new high following recent strong momentum. Additionally, there is an overbought condition in H4 BTCUSDT, evident as the latest H4 bars extend beyond the upper boundary, indicating a potential price correction. Examining the most recent H4 bars reveals a weakening bullish trend, as these bars exhibit long upper shadows, suggesting selling pressure from above. This kind of price action frequently signals a forthcoming correction.
BINANCE:BTCUSDShort
by Stone_Haven
💡XAUUSD: Ability to recover after a slight decline💡At the end of yesterday's trading session, the price of gold experienced a slight decrease, putting an end to the impressive surge that took it close to $2,000 per ounce in the previous week, while the ongoing tensions in the Middle East show no signs of abating. 💡According to David Meger, the Director of Metal Trading at High Ridge Futures, the demand for safe-haven assets may continue to push gold prices higher after a brief period of decline. He expressed the belief that political instability and unrest in the Middle East will likely keep driving gold prices upwards. 💡 Meger also added, "If inflation data exceeds expectations, it could raise concerns about interest rate hikes, which may subsequently lead to an increase in the demand for safe-haven assets."
OANDA:XAUUSDLong
by Stone_Haven
Netflix Surges 16% Post Earnings!Netflix's stock surged 16% due to a 70% spike in subscribers for its new ad-supported tier, adding over 8 million users. This pushed the global subscriber count to 247 million, marking the largest growth since Q2 2020, a period influenced by pandemic-driven home entertainment demand. Financially, Q3 earnings exceeded expectations: projected at $3.49, they reached $3.73. Although the stock previously neared a concerning $300, positive earnings pushed it back up past the $400 level. Yet, a challenge remains: breaking the $423 resistance level from June 2018. Still, with a 7% rise in October and a 37% annual increase, the outlook remains optimistic.
NASDAQ:NFLX
by Sublime_Trading
2
💡XAUUSD: Forecast for the beginning of the week❤️ Hello everyone, hope you have a nice weekend 💡 As you know, this Friday, gold had a strong breakthrough when it was about to hit the 2,000 mark. That is completely reasonable in the context of the Middle East region being tense and investors flocked to gold to preserve their assets 💡 However, in a recent note, Fitch Solutions predicted that gold prices will average 1,950 USD/ounce this year. In addition to geopolitical uncertainty, gold is also supported “as fears of another Fed rate hike in 2023 ease.” 📌Trading strategy for tomorrow: ↗️If Gold turns around when it touches the 1974 - 1975 zone, we will buy in 1979 - 1980 ↘️ If Gold breaks the 1974 - 1975 zone, we will sell at 1972 - 1970 ‼️ Don't forget to setup Stop Loss to be safe ‼️
OANDA:XAUUSDLong
by Stone_Haven
💡EURUSD: ECB October meeting poses downside risks for EURSome EUR News 💡The ECB will hold a policy meeting next week, and market participants will closely monitor changes in economic direction and sentiment that could impact foreign exchange markets. 💡The ECB could start talks on changes to the Pandemic Emergency Purchase Program (PEPP). Any significant changes or signs of monetary tightening could impact financial markets and impact the euro and other asset classes.
Short
by Stone_Haven
4