Looking for a buy by leveraging on the reaction of the support trendline. The aim is to buy on the discounted zones & monitor for TP / Selling opportunities on the roadblock zones ( previous trading range ) This is a MACRO view on XAUUSD combined with elliottwave counting
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With the current uncertainty regarding the global economy and fears of recession, VANTAGE:SP500 has already dropped approx. 20% in the last few weeks. However, currently price has retraced to the long term support trend line which perfectly aligns with the 2020 top, turning it into an attractive S&R level where price could find support. Even if price does not find support here, current market price is still a very good accumulation area for long term buyers and investors!
The Crypto sell-off continues as macroeconomic fears settle into the market. The total crypto market cap is down over 5% in the last 25 hours? Hold GT to claim free airdrops and get a boost!
Hong Kong’s Hang Seng is imploding with the price cascading lower after breaking support at 22,570 earlier today. The subsequent unwind saw 21,728 and 21,377 melt like a hot knife through butter before the price eventually bounced at 20,535 — another minor level that acted as both support and resistance earlier this year. That makes it an initial level of interest for those contemplating setups involving Hang Seng futures. A clean break of 20,535 would put a retest of minor levels such as 19,718 and 19,430 on the table. The 200-day moving average is also found at 19,891, although one glance at how price has interacted with it previously suggests it may be entirely ignored in this environment. Beyond that, the uptrend dating back to the early 2024 low is another level to watch, although it hasn’t been tested enough to declare it meaningful downside support. It’s located around 18,550 today, just beneath the January 2025 swing low of 18,694. While they provided no support earlier today, 21,377 and 21,728 may still be of interest if bears choose to set up shop above either. Watch the price interaction at these levels if the Hang Seng gets back there. Momentum signals remain firmly with the bears, with MACD and RSI (14) both negative and trending strongly lower. While RSI is now oversold, it was also extremely overbought earlier this year — and that didn’t stop further gains at the time. The same could easily apply on the downside. The overall momentum signal favours selling rips and downside breaks near term. Good luck! DS
In the early morning, gold opened and moved lower, continuing the downward trend from last Friday's Nonfarm Payrolls data. Due to the impact of tariffs, U.S. stocks plummeted, dragging down the price of gold. There was significant selling in the gold market at high levels, with funds flowing back into the stock market, causing the gold price to drop sharply. Today is the third trading day of the corrective market. Since the starting point of the upward trend at $2,583, there has been no situation where the corrective market closed bearishly for more than three consecutive trading days. After rebounding from the low today, there is a possibility that the correction may be completed in the short term. However, as the decline in this round was too large and too rapid, a buffering period is needed, and it is expected that the price will face fluctuations. In terms of trading operations, I suggest paying attention to the resistance level at $3,057. Short positions can be considered at this level. Regarding the support levels, focus on $3,000 and $2,970. After the price retraces to these levels, long positions can be taken depending on the situation. Trading Strategy: buy@2970-2980 TP:3020 Sell@3050-3060 TP:3010 Get daily trading signals that ensure continuous profits! With an astonishing 90% accuracy rate, I'm the record - holder of an 800% monthly return. Click the link below the article to obtain accurate signals now!
Looking for price to give is a little more indication that it wants to continue bullish. We have areas to fill on larger time frames before it gives us a stronger play for bigger moves. Just have to be patient and wait for price to give us more solid indication. As Always #NOFOMO!
This double top pattern is detected by the automated pattern detection provided by TradingView for paid subscribers. If it is correct, gate of hell is about to open in crypto market! If it is not happen, the integrity of the code will become questionable. What do you think?
$906.29M has been liquidated from the crypto market in the past 24 hours. Hold GT to claim free airdrops and get a boost!
??? USD/JPY news: ➡️ The Japanese yen (JPY) started the week on a positive note as U.S. President Donald Trump’s broad-based tariff measures heightened fears of a global economic downturn, boosting demand for traditional safe-haven assets. At the same time, concerns that harsher reciprocal tariffs from the U.S. could negatively affect Japan's economy led investors to scale back expectations for a faster pace of interest rate hikes by the Bank of Japan (BoJ). This, in turn, acted as a drag on the yen and helped the USD/JPY pair recover its earlier losses during the Asian session, climbing back toward its six-month low just below the key psychological level of 145.00, which was briefly touched on Friday. Personal opinion: ➡️ In the short term, USD/JPY is recovering after being sold off late last week ➡️ RSI reversed to the upside after entering overbought territory and creating divergence. ➡️ Analysis based on Volume profile and important resistance - support levels combined with EMA to come up with appropriate strategies. Plan: ?Price Zone Setup: ?Buy USD/JPY 146.10 – 146.20 ❌SL: 145.75 | ✅TP: 146.60 – 147.30 – 148.00 FM wishes you a successful trading day ???