? ? Market-Moving News: ???️ Fed Chair Powell Testifies: At 10:00 AM ET, Federal Reserve Chair Jerome Powell will testify before Congress, providing insights into the economic outlook and potential monetary policy adjustments. ? Key Data Releases: ? Wednesday, Feb 12: ? Consumer Price Index (CPI) (8:30 AM ET): Forecast: +0.3% MoM; Previous: +0.4% MoM. ? Core CPI (8:30 AM ET): Forecast: +0.3% MoM; Previous: +0.2% MoM. ? CPI (YoY) (Jan): Expected 2.9%; Previous 2.9%. ? Core CPI (YoY) (Jan): Expected 3.1%; Previous 3.2%. ?️ EIA Crude Oil Inventories (10:30 AM ET): Previous: +8.664M. ? #trading #stockmarket #SPX #SPY #daytrading #charting #trendtao
Executive Summary Gold’s Elliott wave pattern appears incomplete to the upside. A decline to $2760-$2830 is considered ‘normal’ correction within an uptrend. Lack of Daily RSI divergence suggests new additional highs eventually. CURRENT ELLIOTT WAVE ANALYSIS Gold continues to punch new all time highs this new year. The current Elliott wave count suggests that the current wave 5 rally is incomplete with only wave ((i)) of 5 completed at today’s high. This implies gold may need to catch its breath from this climb and a mild decline in wave ((ii)) of 5 may be underway. This second wave can drop down to $2760-$2830 and be considered a ‘normal’ decline. Once the wave ((ii)) decline is complete, then a wave ((iii)) rally would begin pushing gold up to another all-time high. HOW DO WE KNOW THIS ISN'T THE TOP OF WAVE 5? Elliott wave analysis is a deductive study. All wave patterns are possible, then we eliminate those patterns that break one of Elliott’s rules. Of those patterns that remain, we analyze them based on best practices that meet the most guidelines and has a ‘right look’. It does appear that wave 4 was a triangle. The rally from January 13 has carved out five waves into today’s high. Therefore, it is possible today’s high is the end of wave 5. However, we don’t believe it is the higher probability model. Though prices have rallied into the orange trend line extending off previous pivot highs, the RSI indicator is hinting at higher levels to come (eventually). Typically, we’ll witness divergence between the price and RSI when comparing a wave 5 peak to its corresponding wave 3 peak. Today’s RSI value is not diverging from the wave 3 high. Therefore, we can label today’s high as a wave ((i)) of 5. The next wave, wave ((ii)) would need to hold above the January 13 low of $2,656.83. The rally into today’s high rubbed along a trend line dating back to 2023. This may repel prices, even though the bullish pattern appears incomplete. We mentioned above how today’s high could be the end of wave 5 and the entire impulse dating back to 2022. However, there is another possibility we are closely monitoring that suggests a larger decline is about to unfold back to about $2,500. Under this model, wave 4 is still incomplete. Today’s high would be wave ((b)) of 4. A decline to about $2,500 would become wave ((c)) of 4. This would bring wave 4 more in line with the price and time correction of its cousin, wave 2. You see, the first wave count I shared above included a wave 4 triangle that was shallow in price and time when compared to wave 2. Therefore, we are keeping an open mind about what pattern could extend wave 4’s time and depth and the red labels shown above would do that. BOTTOM LINE Gold appears to have an incomplete Elliott wave sequence to the upside. Multiple models suggest a decline to $2760-$2830. From there, the models diverge with one Elliott wave model suggesting a rally to new all-time highs, while another model suggests a continued decline back to $2,500. At $2,500, wave 4 would complete and wave 5 unfolds to new all-time highs. Either way, we are anticipating new all-time highs to develop, but starting from lower levels.
- EUR50 index broke the resistance area - Likely to rise to the resistance level 5500.00 EUR50 index recently broke the resistance area between the key resistance level 5300.00 (which stopped the previous minor impulse wave iii in January) and the resistance trendline of the wide up-channel from November. The breakout of this resistance area accelerated the v-wave of the active sharp upward impulse wave C. Given the clear daily uptrend, the EUR50 index can be expected to rise to the next resistance level 5500.00 (target price for the completion of the active impulse wave C).
https://www.tradingview.com/x/1zQlRWhT/ Hello, I mentioned to someone or some screen just prior to yesterdays session that any selling of the Gold price may be futile at this point as the fundamentals are too strong. 1. Inflationary projections that may have cause and effect from the USA Government. 2. Increasing 'cold wars' between nations, especially locations like Russia and the middle East, where there is already civil unrest and warring countries. 3. The Donnie Trump Crypto & wealth-rocks 'carry trade'. Coming to a broker near you & hear from the 'star' for all things 'blockchain' and 'neck-chain.' You can see in the chart where the price tested 2900 a few times and closed just under at 2897. It could be read as a new corrective move down as price was not held at 2900, hover this is just a break under support and no big deal imho, plus the price closed right on 50 day moving average on 1hr chart and on a couple of other timeframes it found ema support. Neither of the above mean a terrible lot, but I reiterate the fundamentals are very supportive of the Gold price and someone has to give cryptocurrency a boost.
02.11.2025 / NASDAQ:TEM Fundamentals. Neutral news background. Technical analysis. Daily chart: The price is near the upper limit of a wide range. The level 78.00 formed by a trend break in November 2024 is ahead. Premarket: A slight decline on moderate volume. We mark the premarket high at 69.00. Trading session: We observe a sharp, almost non-pullback impulse on the opening of the trading session, which was stopped at the level of 78.00. We are considering a short trade in case of an unsuccessful attempt to breakout 78.00 due to the fact that the price approached a strong daily level very sharply on large candles and passed 1.7 ATR. Trading scenario: false breakout with retest of level 78.00 Entry: 76.82 after unsuccessful attempt of breakout, pullback and retest. Stop: 78.21 we hide it behind the high of the retest. Exit: Close part of the position before premarket high level of 69.00. Close the rest part of the position around 69.22 when reversal candlestick pattern appears. Risk Rewards: 1/5 P.S. In order to understand the idea behind the Stock Of The Day analysis, read the following information .
- EURNZD currency pair reversed from the support area - Likely to rise to the resistance 1.8380 EURNZD currency pair recently reversed up from the support area located between the pivotal support level 1.8235 (former monthly low from January), lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from November The upward reversal from this support area created the daily Japanese candlesticks reversal pattern Morning Star. Given the multi-month uptrend and the oversold daily Stochastic, EURNZD currency pair can be expected to rise to the next resistance 1.8380.
FDS has disappointed the buy and hold crowd over the past year. In the last 356 days (it was a leap year), it has gone up a total of around .22% - basically nothing. It has given me a bunch of profitable trades, though, and it's giving me another one today. While it has done basically nothing overall, all those zig-zags along the way are where my excess return lives. Stock returns like this one over the course of the past year can be both gut-wrenching and frustrating. It was charts like this one (and owning the stocks behind them) that was a big part of what motivated me to develop the trading system I now rely on almost exclusively (except for some fun day trades). In over 800 actual and backtested trades, it has generated a per day held return 4x that of SPY's long term average daily return. In the large/mega cap universe, that has made it historically a top 10% stock for me. The fact that there is support nearby is nice. Or, you could say it's forming a decapitated head and shoulders too - an almost perfect one if you don't care about the head. That could be a cause of concern, I suppose. In the end, though, through all the ups and downs of the markets and the stock, all the trends and chart patterns, I go back to the data. Does past performance guarantee future results? Well no...but over 1.2 million trades worth of data sure does help me sleep at night while the trade is on, that's for sure. To be in the top 10% of that much data says something about FDS and its reliability of returns. I trust that data and it has certainly earned my trust since I started trading based on it. As I developed this system and saw what happens when you use large amounts of data to drive trading decisions, I understand much better the tech world's fetish with big data now. It works. It makes me wonder if there's big data out there on head and shoulders patterns (head included) and things like trend lines and support and how predictive those signals really are. Alas, that's a job for someone else. I've done (and continue to do) the data crunching for my system, because I believe in the predictive power of that data - and that's the real reason I went long FDS at the end of the day today. Per my usual strategy, I'll add to my position at the close on any day it still rates as a “buy” and I will use FPC (first profitable close) to exit any lot on the day it closes at any profit. As always - this is intended as "edutainment" and my perspective on what I am or would be doing, not a recommendation for you to buy or sell. Act accordingly and invest at your own risk. DYOR and only make investments that make good financial sense for you in your current situation.
what do you think ? tell me by comment used by fibo 2 and 3 dot plus elliot@@@@@ BINANCE:ICPUSDT
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Da hat unser Dax aber sauber weiter seine Kunststückchen präsentiert und schon mal die 22100 abgearbeitet. Guten Morgen :) Marken mit Wichtigkeit und hoher Reaktionsfreundlichkeit für heute und die nächsten Tage sind meiner Meinung nach: 22600, 22420, 22100, 21800, 21670, 21510, 21420, 21360, 21230, 21060, 20880, 20730, 20480, 20360, 20205, 20120, 19895, 19600 Chartlage: positiv Tendenz: aufwärts Grundstimmung: positiv Sollte sich unser Dax am Dienstag oberhalb von 21950 halten können sind 21980 / 22000 weiterhin erreichbar gewesen und sollte er dort durchkommen, sprach auch überhaupt nichts gegen einen direkten Durchschuss zur 22100 und 22180 zu stellsn. Er musste um das zu kippen die neuen Hochs am Dienstag direkt verweigern und scharf nach unten drehen, zuerst auf die 21910 zurück, dann auf 21800 und darunter weiter zur 21740 / 21730. Sollte er aber so ruhig bleiben wie Montagnachmittag hätte ich ihn schon eher an der 22100 gesehen. So die Zusammenfassung von gestern. Doch anbrennen lassen wollte unser Dax nichts und fing sich direkt vom ersten Support bei 21910 nach dem neuen Hoch direkt wieder ab, drehte auf und lieferte uns zum Abend dann die Kirsche auf der Sahnetorte bei 22100 noch nach. Da die aber recht schnell vernascht sein dürfte sollten wir uns zum Mittwoch vielleicht nochmal eine zur 22180 / 22220 hoch liefern lassen. Denn das wäre hier durchaus noch direkt auch erreichbar. Sollte ihn die durchaus auch wichtige Station dort aber gar nicht jucken, folgen 22270 und 22320 auf der Ziele-Liste. Sollte er aber eher scheuen und von der 22100 wieder wegtreiben wären von oben kommend sowohl 22060 / 22040 als auch 21980 schöne Supports um sich wieder aufzudrehen und weiter zu machen. Stand hier könnte man ihm dann erst unter 21910 wieder Schwäche auslegen oder bei auffällig einsetzender Abwärtsdynamik. Und solange weder das eine noch das andere passiert, sehe ich den eher noch weiter oben die Musik anspielen. Die Scheine bleiben gleich. Für Aufwärtsstrecken der GJ938A KO 20000 sowie PG70KW KO 18600 und für Abwärtsstrecken der GJ1K00 KO 22600 und MG510S KO 23920. Fazit: Unser Dax hat nun die nächste Station bei 22100 angelaufen. Von hier wäre ein Rücklauf auf 22060 / 22040 oder auch 21980 / 21960 nicht verboten um sich dort dann wieder zu stabilisieren und aufzudrehen. Gelingt ihm das dann oder auch direkt frontal, sind oberhalb von 22100 dann die nächsten Stationen bei 22180 / 22220, 22270 und 22320 auszumachen. Um sich aus dem ewigen Anstieg zu befreien bräuchten wir entweder ein Unterschreiten von 21910 oder auffällig impulsive Dynamik nach unten. Solange weder das eine noch das andere Eintritt sollte man weitere Hochs einplanen und anpeilen.