ENGROH (184.50) has completed the 61.8% Fibonacci retracement of its 134.36 to 287.88 rally at 179.76, marking a decline of over 35% from its January 2025 high of 287.88. Based on my wave count, the correction appears to be complete, with a potential low established at 177.05. A sustained move above 188.50 would confirm emerging strength, initially targeting 194.60. Such a move would reinforce the bullish reversal structure, setting the stage for a minimum upside towards 206.30, with the potential to extend to 226. Traders should closely monitor price action above 188.50, particularly on expanding volume, as this would provide a strong buy signal for further upside.
I anticipate a significant pullback on the daily timeframe, targeting the $15,000 level before resuming the upward trend. Following a substantial break in the bullish trend, a robust retracement is expected. This correction should trigger considerable buying momentum around the $15,000 to $16,000 range, presenting opportunities for long-term positions to the upside.
According to Elliott Wave theory, if this is forming a diagonal ending, the price is likely to retest the nearest trendline. Watching for confirmation will be key to identifying the next move. ??
Spy weekly FL where im expecting spy to drop down to
Last week, the international gold price stopped falling and stabilized. Supported by favorable fundamentals, it returned to above the $2,900 mark. The weekly line closed with a small positive line, standing firmly at the key support level of the 5-day moving average (MA5), indicating that the short-term downward momentum has weakened. Technically, the moving average system still maintains a bullish arrangement, but the expansion speed of the red column of the MACD indicator slows down, suggesting that the market may need further adjustments to accumulate upward momentum. At the beginning of this week, the gold price may continue to fluctuate in the range, and it is necessary to pay attention to whether the resistance level of the 2925-2930 area above can be broken. Gold technical analysis: The daily chart shows that the non-farm payrolls data that fell short of expectations has strengthened the market's expectations that the Fed will slow down the pace of interest rate hikes, pushing the gold price to form a staged bottom support. The current short-term moving averages (such as the 5-day and 10-day moving averages) tend to stick together and fail to effectively guide the direction, while the MACD indicator has entered a correction cycle, and it may be difficult to quickly expand the gains in the short term. In terms of operation strategy, it is recommended to adopt the idea of "pullback and long". If the gold price falls back to the 2890-2885 range, long orders can be arranged, and the target is above 2920. It should be noted that if the previous high point is not effectively broken through, it may trigger the risk of a second bottoming out. On the whole, although there is a certain adjustment pressure on the short-term technical side, the medium- and long-term bullish trend has not changed fundamentally, and geopolitical risks and expectations of a shift in the Fed's policy still provide solid support for gold prices. Gold operation suggestions: Go long near 2890-2885, stop loss 2878, target 2918
Technical analysis of gold: Gold is still fluctuating in the range of 2890-2930, and bulls and bears continue to fight for control. From the chart, the gold daily level is still fluctuating within the range and has not broken through the previous highs. After the US dollar index oversold, there is a need for a rebound, so be careful of gold prices falling again. The daily level 2890-2930 high consolidation has been running for four trading days, and the competition between bulls and bears is still quite fierce. Then we can only wait patiently for the closing price of a certain day to effectively break this range, and then judge the short-term direction of the market outlook, whether it will further strengthen or fall back to correct; from the 4-hour chart, today's several tests on the middle track have not broken through, and the previous K-line closed with a long lower shadow pattern of bottoming out, so there is support at 2895 and resistance at 2914, pay attention to gains and losses; only by breaking through and standing on the middle track can we continue to test the pressure of the 2930-20 high range; On the whole, today's short-term operation of gold suggests that callbacks should be the main focus, and rebound shorts should be supplemented. The upper short-term focus is on the 2928-2930 first-line resistance, and the lower short-term focus is on the 2890-2894 first-line support. Short order strategy: Strategy 1: Short 20% of the gold position in batches when it rebounds to around 2928-2930, stop loss 8 points, target around 2915-2900, break to see 2895 line; Long order strategy: Strategy 2: Long 20% of the gold position in batches when it pulls back to around 2895-2898, stop loss 8 points, target around 2915-2920, break to see 2930 line
Based on the H4 chart analysis, the price is approaching our sell entry level at 2904.48, a pullback resistance that aligns with the 50% Fibonacci retracement. Our take profit is set at 2871.29, a pullback support The stop loss is placed at 2930.95, an overlap resistance.
Nice wyckoff distribution, we can see price now heading higher, structure indicate buying pressure is coming in the market!!! Nice risk to reward!!! see you later
Solana (SOL) has reached a **key support zone between $116 – $126**, a level that has held strong for the past year. This area will determine the next major move, with two possible scenarios in play: ? Bullish Scenario: - If SOL holds and forms a reversal pattern, we could see a strong move toward $200 as bullish momentum builds. - Confirmation of a bounce with increasing volume and bullish candlestick patterns (such as a double bottom or bullish engulfing) would provide an entry signal. ? Bearish Scenario: - A break below $116 would indicate weakness, potentially leading to a retest of $100 or even $80 if selling pressure accelerates. - A daily close below this support zone would confirm the breakdown and shift momentum to the downside. ? My Bias: I remain optimistic and will be looking for a reversal pattern within this key zone to enter a long trade with a target of $200.
Last week's non-agricultural data still did not show a big direction, and it is still moving in a high range. At present, short-term operations are still the mainstream. Don't blindly wait for a big drop. The high point last night is gradually lowering. The point of entering the range can be slightly adjusted according to market changes. Long orders at any point must strictly have a stop loss! Today's thinking; 1; If the price rebounds from above, go short at 2905-10. You can keep one order to cover the position. The target is 10 points or more. 2; If the price rebounds from below, you can try to buy at 2880-75. The long order must be strictly stopped. The profit margin above can be 8-10 points