Trading Plan Baseline Short-Term Sentiment Bias: - Euro under pressure, trading below $1.05 due to ECB rate cuts and political uncertainty in France and Germany. - Markets expect an additional 50 basis points cut by February. Upcoming Risk Events : - German Manufacturing PMI (Dec): Previous: 43.0, Consensus: 43.1. - German Services PMI (Dec): Previous: 49.3, Consensus: 49.5. - Eurozone Flash Manufacturing PMI: Previous: 45.2, Consensus: 45.3. - Eurozone Flash Services PMI: Previous: 49.5, Consensus: 49.5. Surprise: Positive Surprise: - Outcome: PMI beats expectations. - Trade: Long EUR/CHF (bond yield spreads suggest upside). Negative Surprise: - Outcome: PMI misses expectations. - Trade: Quick scalp on EUR/NZD (slight downside based on bond yield spreads). Bigger Picture Macro-Fundamental Bias - ECB's Stance: Data-dependent approach, removed restrictive rate stance. - Inflation Outlook: Headline inflation projected to average 2.4% in 2024, decreasing to 1.9% by 2026. - GDP Revisions: Lowered to 0.7% in 2024 and 1.1% in 2025. - Market Expectations: Continued rate cuts expected due to weak growth and low inflation.
•Gold price needs to break below the $2,643 area for bears to seize near-term control From a technical perspective, the Asian session low, around the $2,644-2,643 area, coincides with a congestion zone. Some follow-through selling has the potential to drag the Gold price to the $2,625 region en route to the monthly low, around the $2,614 zone and the $2,605-2,600 pivotal support. A convincing break below the latter will be seen as a fresh trigger for bearish traders and pave the way for deeper losses. On the flip side, the $2,665-2,666 region now seems to act as an immediate hurdle ahead of the $2,677 area, above which the Gold price could aim to reclaim the $2,700 round figure. The subsequent move up could extend further towards the monthly swing high, around the $2,726 zone, which if cleared decisively will set the stage for a further near-term appreciating move.
ETH/USD: Sell Signal Price is currently between the trend lines, a small bounce is expected before a bigger drop. Key Levels: - Entry: NOW (Current Market Price) - Stop Loss: Above the resistance line - Take Profit: 300 pips (Lower trend line) My prediction: Expecting a break of the support line. Sell opportunity. Best Wishes Tom ?
Hello, OANDA:EURCHF is finding support at the 1D pivot point (PP), and if this level holds, further upside potential could unfold. Current conditions are certainly promising. The pair is first testing 0.945443, and if it manages to break and sustain above this level, the 1Y pivot point may serve as a new support. No Nonsense. Just Really Good Market Insights. Leave a Boost TradeWithTheTrend3344
The stock has touched the HH of 54.6 previously and therafter retraced 0.718 FIV level, now broke out the falling wedge pattern. Small size entry can be taken here for TP1 of 59, position size can be increased once it crosses 48.85, Breakout of previous HH @ 54.6 will confirm the bullish ride towards arc formation projection of 91.85 However, final target as per our trade plan is
1. Highest open interest (OI) for Call option with high volume indicates higher probability of price. 2. Movement in that direction in the near future. 3. CME Vol & OI data as of 12.15.2024, 5 PM. 4. 10,600 strike price has the highest Put option OI. 5. Both high Put and Call OI at the 10,600 strike price with high volume. 6. 10,600 considered a strong price level. 7. Option expiry for January 2025. Total of 3 Resistance along ( OB, OP, FIB and Bottom Strong 3rd Deviation )
WHO SAID Its over? But it needs rest so red line is to be seen, CMP buys initiated till yellow box initated!
US30 Technical Analysis Report December 16, 2024 Current Market Overview The US30 (Dow Jones Industrial Average) is currently displaying a significant bearish bias, with multiple timeframe analysis supporting a continuation of the downward momentum. Current price: 43,886 Technical Analysis by Timeframe Daily Timeframe (HTF) https://www.tradingview.com/x/1PMVG2iS/ Confirmed bearish market structure break at 44,392 (December 10, 2024) Overall Higher Timeframe trend remains bearish This break serves as a key reference point for the current bearish momentum 4-Hour Timeframe (H4) https://www.tradingview.com/x/RKmSwgPf/ Clear downtrend pattern formation Current price action showing retracement to sweep buy/sell liquidity zones Price action respecting the downward trendline range Suggested entry level identified at 43,809 1-Hour Timeframe (H1) https://www.tradingview.com/x/FQjVk0v7/ Key resistance level identified at 44,058 Potential for temporary trend interruption if this level is breached Currently operating within Asian session range boundaries Key Trading Levels Entry Target: 43,809 Take Profit 1 (TP1): 43,345 Extended Target (TP2): 42,890 (conditional on market alignment) Key Resistance: 44,058 Previous Structure Break: 44,392 Volume Analysis Current phase: Asian session (characterized by lower volume) Critical observation period: New York session open Anticipating increased volume and potential trend confirmation during NY hours Risk Management Considerations Primary trend remains bearish Watch for potential temporary reversals at 44,058 Monitor NY session volume for trade confirmation Consider partial position closure at TP1 (43,345) Trading Session Context Currently in Asian trading hours Key decision point expected at NY session open Volume expected to increase significantly during NY hours, providing better trade execution opportunities Trade Strategy Summary The overall strategy aligns with the bearish bias across multiple timeframes. Entry opportunities are being monitored at 43,809, with a structured approach to take profit levels. The New York session will be crucial for volume confirmation of the anticipated moves. Note: This analysis is provided for educational purposes only and does not constitute financial advice. All traders should conduct their own research and risk assessment before entering any positions.
Price has successfully broken above key resistance levels on both the 6-Day and 6-Week timeframes, signaling continued bullish momentum. Here’s the detailed observation: 1. 6-Day Chart: • Price has cleared previous resistance and is holding above key levels. • A clear cup formation (highlighted) is visible, typically indicating a bullish continuation pattern. • Consolidation at this point shows strength, as it allows price to build momentum for the next push upwards. 2. 6-Week Chart: • The bullish candle structure looks strong and clean. • Price remains above the 21’ High, which acts as a significant support level. • Volume and structure indicate a healthy trend, with no signs of reversal at this point. • This timeframe aligns with the bullish sentiment, further confirming the upward trajectory. Summary: The bullish momentum remains intact across multiple timeframes. The break above resistance combined with consolidation is a strong indicator that price is preparing for the next leg up. Monitoring the 6-Day and 6-Week charts closely will help confirm continued strength as the market progresses.
BTC is closly following our stances as we said earlier and now you can observe the preceedence with the yellow line with the green line of 103500 is ideal buys and is major support. Observe!