From the opening on Monday to Fridays close, Euro has been on an absolute TEAR to the upside with little to no manipulated spikes to the downside confirming this weeks bullish bias with flying colours. Originally, the first point of interest was the 1.04542 - 1.04444 daily inverted SIBI but as we saw aggression when trading through it, 1.05368 is the next bullish draw. We have yet to reach buyside liquidity yet but we have attacked the consequent encroachment of the last up close candle wick @ 1.05127 in which we saw a rejection. Bullish projection this week has been superb! Looking out for a continuation to the upside, closing 1.25127 and a rally up to 1.05368. Longer term bullish draw up to 1.06826 - 1.06098 is still in play but I want to see how the delivery above 1.05368 plays a role in the possible continuation of bullish price action.
Consider a tiered approach to capitalize on potential rebounds and corrections in the SPY. The proposed entry points are as follows: 603: This serves as an initial entry if the price demonstrates support and begins to bounce at this level. 600: If the momentum at 603 is not confirmed, a second entry at 600 may help lower your average entry price. 598: An additional entry at 598 can be considered to take advantage of a deeper pullback, provided that reversal signals are evident. 593: In the case of stronger downward pressure, entering at 593 may secure a more favorable price, assuming technical support is still intact. Profit Target: The profit-taking level is set at 615, which, combined with the entry levels, aims to deliver a favorable risk/reward ratio of 1:3. This means that for every unit of risk assumed, you could potentially earn three units of reward. Capital and Risk Management: Stop-Loss: Always implement a stop-loss based on your individual risk tolerance to safeguard your capital. Risk/Reward Ratio: Maintaining a minimum risk/reward ratio of 1:3 is highly recommended for each trade. Diversification: Avoid risking a large percentage of your capital on a single trade. Ensure that your investments are diversified. Disclaimer: This information is provided for educational purposes only and does not constitute financial advice. Trading involves significant risks, so it's crucial to perform your own analysis and apply proper risk management. Always trade with capital you can afford to lose and consult with a financial professional if needed. Trade responsibly and good luck!
From a Macro standpoint, EURCAD looks strongly bearish as it is locked up within a very solid bearish range. However, to continue the strong bearish move, we expect EURCAD to take out some fuse at the upside before presenting more opportunities to the sell side.
Weekly Preview: - Inflation Talk from last Week - Economic Calendar for this week - Earnings Preview with Technical Analysis Enjoy Friends! Not financial advice
? **? XAUUSD – Daily Higher Time Frame Analysis** ? **Friday’s Candle Close: Strong Bearish Pressure ?** * The **last daily candle on Friday** showed **significant selling pressure** at the close. * Based on this momentum, there is a high probability of **further correction in gold**. ? **Why is a Correction Likely?** * Gold has been in a **continuous bullish rally** from **$2,570 to $2,944** without any major retracement. * Such an extended uptrend often requires a **healthy pullback**, making a correction **more probable**. ? **Key Levels to Watch:** ? **Critical Daily Close for Further Selling Pressure** * If **tomorrow’s daily candle closes below $2,866-$2,861**, expect **strong selling momentum** to continue. * This could lead to a decline toward **$2,789-$2,773**, which was a **previous strong resistance zone** and could now act as **support**. ? **Potential Support Zones During the Drop:** * **Minor Support at $2,830-$2,833** (? Small Fair Value Gap) * **Major Support at $2,789-$2,773** (? Previous Strong Resistance Turned Support) ? **Trading Plan:** * The best approach would be to **wait until the US session** for confirmation. * Alternatively, traders can **follow the H4 setups** already shared. ⚡️ **Next Update:** * **Lower time frame analysis** will be shared in the **morning**. ? Stay patient and wait for confirmation before taking positions! ?
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? SHORT BYBIT:HBARUSDT.P from $0.21913 ? Stop Loss: $0.22070 ⏱ 1H Timeframe ✅ Overview: ➡️ BYBIT:HBARUSDT.P continues trading in a downtrend, staying below the key level of $0.21913, which could act as a short entry point. ➡️ POC (Point of Control) is positioned above the current price, indicating strong liquidity and selling pressure. ➡️ The price failed to hold above $0.22070, reinforcing the bearish scenario. ➡️ If local lows are broken, further downside movement is expected. ⚡ Plan: ➡️ Enter short below $0.21913, confirming the bearish momentum. ➡️ Risk management via Stop-Loss at $0.22070, placed above the nearest resistance. ? TP Targets: ? TP1: $0.21792 ? TP2: $0.21594 ? BYBIT:HBARUSDT.P remains under seller pressure—expecting further decline! ? BYBIT:HBARUSDT.P is showing weakness in the market. If the price breaks below $0.21913, increased selling momentum may lead to $0.21792 – $0.21594. However, if the price rebounds above $0.22070, a short-term recovery could occur.
Unlike Nasdaq and S&P 500 where their PD arrays was discounted, Dow Jones is showing a different story. 45000 is a stanch psychological resistance level for a number of reasons. For one, a weekly liquidity void in the past aligns with a prior daily SIBI (which price redelivered into and rebalanced 100% of the range) and another gap in the form of a volume imbalance created last week Thursday 6th going into Friday 7th which Dow has rejected this Friday. Very tight range Dow is working in at the moment and I don’t have the confidence yet to predict Dow jones reaching up into the all-time highs territory yet. There is still a lot more resistance levels to break through compared to ES or NQ. Going into next week, I want to see 45000 cleared. Ideally, I want to see a candle body closure above 45227. Dow Jones is last in the race to attack ATH.
GBPUSD Bullish trend be continue. If the market retrace then take a trade otherwise skip the trade setup.
? Ethereum (ETH/USD) – 4H BITSTAMP | Potential Breakout Setup ? ? Resistance Zone: $2,800 (Key breakout level) ? Support Zone: $2,625 (Strong demand area) ? Current Price: $2,678.3 (-0.58%) Ethereum is currently consolidating within a crucial price zone, where buyers and sellers are battling for control. This setup indicates a possible breakout that could define the next major move. ? Trading Plan: ✅ Breakout Confirmation: If ETH breaks and closes above $2,800, a bullish rally is likely. ? Target: $2,954 (Take Profit) ❌ Stop-Loss: Below $2,625 ? Strategy: Wait for a confirmed breakout above $2,800 before entering. If this level is breached, buying pressure is expected to increase, potentially driving ETH higher. ? ? Will this be ETH’s next big move? Share your thoughts in the comments!