After the opening gap, GBP initially dropped but managed to recover during the New York session. This price action suggests a potential bullish bias, as buyers stepped in to absorb the sell-off. However, the overall trend is still bearish and key resistance levels should be monitored before confirming further upside. Stay cautious and manage risk accordingly.
Gold technical analysis Daily resistance 2850, support below 2746 Four-hour resistance 2830, support below 2800 Gold operation suggestions: Yesterday, the technical side of gold first fell and then rose, ushering in a deep V reshuffle. The European gold price continued to rise and broke through and stood near the Asian session's falling breakthrough point of 2802. The US gold price accelerated its rise in one fell swoop, breaking through the high point of 2817 last Friday and reaching near 2830. After falling under pressure, the closing gold price was near 2813, forming a bottoming and rising trend. After the overall gold price completed the extreme retracement confirmation during the day, it formed a strong bullish rebound. From the current four-hour analysis, today's lower support focuses on the 2800 integer mark. If it stabilizes at this position during the day, you can continue to buy and look bullish first. The upper short-term resistance focuses on the 2828-30 area. The short-term bullish strong dividing line focuses on the 2800 mark. Before the daily level falls below this position, continue to maintain the bullish pattern. BUY:2790near SL:2785 BUY:2800near SL:2797 Technical analysis only provides trading direction!
? NIFTY TRADING PLAN – 05-FEB-2025 ? ? Previous Close: 23,707.70 ? Key Levels to Watch: ? Resistance Zone: 23,743 - 23,845 ? Opening Support Zone: 23,591 - 23,644 ? Last Intraday Support: 23,491 ? Buyers’ Strong Support: 23,345 - 23,388 ? Profit Booking Zone: 24,067 - 24,155 ? POSSIBLE OPENING SCENARIOS & TRADING STRATEGY ? ? Gap Up Opening (100+ Points Above 23,807) – Bullish to Cautious Approach ? If Nifty opens with a gap-up above 23,807+ , traders should wait for initial price action. ? A sustained move above 23,845 can trigger bullish momentum towards 24,067 - 24,155 (Profit Booking Zone). ? If Nifty struggles near 23,845 , expect sideways movement or a potential reversal to test 23,743 - 23,707 . ? Trade Setup: ✅ Buy on retracement if 23,743 acts as support after a pullback. ? Avoid aggressive buying near resistance without confirmation. ↔️↔️↔️ ? Flat Opening (Between 23,683 - 23,743) – Key Zone for Decision Making ? A flat opening within 23,683 - 23,743 keeps the market in a neutral-to-bullish zone. ? If Nifty holds above 23,707 , we can see a push towards 23,845 . ? Failure to hold 23,707 might bring weakness towards 23,644 - 23,591 (Opening Support) . ? Trade Setup: ✅ If Nifty stays above 23,707 for 15-30 minutes, a breakout trade towards 23,845 is possible. ? If it breaks below 23,644, avoid longs and wait for a deeper support test. ↔️↔️↔️ ? Gap Down Opening (100+ Points Below 23,607) – Caution Required ? A gap-down below 23,607 will bring pressure on support levels. ? 23,591 - 23,491 is a key demand zone; a strong bounce from here can offer buying opportunities. ? If selling continues and Nifty breaks below 23,491 , the next major support is 23,345 - 23,388 . ? Trade Setup: ✅ Look for reversal signs near 23,491 - 23,345 before entering long trades. ? If Nifty breaks and sustains below 23,345, expect further downside. ⚠️ RISK MANAGEMENT & OPTIONS TRADING TIPS ⚠️ ? Use strict stop-losses based on an hourly close. ? Avoid chasing trades at extreme levels; wait for pullbacks. ? For options trading, consider ATM/ITM contracts for better liquidity. ? Time decay will impact weekly options—exit early if momentum slows. ? Hedge positions if volatility spikes unexpectedly. ? SUMMARY & CONCLUSION ? ✅ Bullish Bias above 23,743 targeting 23,845 - 24,067. ❌ Bearish Break below 23,591 may push towards 23,491 - 23,345. ? Key Zone: 23,707 - 23,743—market reaction here will decide the trend. ? Wait for confirmation at crucial levels before entering trades! ⚠️ DISCLAIMER ⚠️ ? I am not a SEBI-registered analyst. This trading plan is for educational purposes only. ? Please do your own research or consult with a financial advisor before making trading decisions.
Due to Trump's tariffs on Chinese (and Canadian) goods, I expect rising inflation. In response, the US central bank is likely to implement contractionary policies, which could strengthen the dollar and weaken the euro. Therefore, EUR/USD appears to be a suitable pair for a short position.
FX:GER30 Current Market Overview Explore the latest insights into the German DAX index with a focus on pivotal support, resistance levels, and potential trading patterns. Support and Resistance Levels Support at €21,105: This level acts as a critical neckline for a potential Head and Shoulders pattern formation. We should watch closely for any breaks below this level, as it could signal further downside movement. Resistance at €21,557: A new resistance level has formed close to the 61.8% Fibonacci retracement level. This resistance may contribute to forming the right shoulder of a reversal pattern. Potential Head and Shoulders Pattern The Head and Shoulders pattern is a key technical formation to watch for: Formation Details: If the DAX breaks below the neckline/support at €21,105, it could confirm the formation of a Head and Shoulders pattern. Target Projection: A break below the neckline suggests a potential downside target around €20,452. This level aligns with the weekly fractal resistance previously breached at €20,529, which could act as support. Happy Trading, André Cardoso
? Bank Nifty Trading Plan – 05-Feb-2025 ? Market Overview & Key Levels Previous Close: 50,111.65 Resistance for Sideways: 50,310-50,374 Profit Booking Zone: 50,970 Opening Support / Resistance Zone: 50,147-50,310 Opening Support: 49,875-49,866 Last Intraday Support: 49,550 ? Opening Scenarios & Trading Plan ? Scenario 1: Gap-Up Opening (? 200+ points) If Bank Nifty opens above 50,310-50,374, it enters a resistance zone. A strong hourly close above 50,374 can trigger a bullish move toward 50,600-50,970. However, if prices struggle to hold above this zone, expect a pullback towards 50,147-50,310 before further movement. ? Trading Plan: Wait for price confirmation near 50,374 before going long. A rejection from resistance (candlestick reversal patterns like shooting star or bearish engulfing) could trigger a short trade toward 50,147. Stop loss should be placed above 50,400 for shorts and below 50,250 for longs. ??? ? Scenario 2: Flat Opening (? ±100 points from previous close) If Bank Nifty opens within 50,100-50,200, expect range-bound movement in the first 30 minutes. A breakout above 50,310 confirms a bullish trend, while a breakdown below 50,100 indicates weakness. ? Trading Plan: For a breakout above 50,310, enter longs with a target of 50,600-50,970. For a breakdown below 50,100, short with a target of 49,866-49,550. Wait for confirmation on 15-min candle close before entering trades. ??? ? Scenario 3: Gap-Down Opening (? 200+ points) If Bank Nifty opens below 49,875, it enters a strong support zone. A further breakdown below 49,550 can accelerate selling pressure toward 49,300-49,200. ? Trading Plan: If price stabilizes above 49,866, consider a bounce trade for quick scalping toward 50,100. A break below 49,550 confirms further weakness – enter shorts targeting 49,300. Keep SL above 49,950 for shorts and below 49,500 for longs. ? Risk Management Tips for Options Trading ? ✅ Use Stop Losses Based on Hourly Close: Avoid emotional exits, always base SL decisions on market structure. ✅ Avoid Trading in No-Trend Zones: If price is stuck in the 50,147-50,310 range, wait for a breakout confirmation. ✅ For Option Buyers: IV crush can affect premiums, prefer ATM/ITM options for better movement. ✅ For Option Sellers: Use hedging strategies like spreads to limit risk. ? Summary & Conclusion Bullish Confirmation: Above 50,374, targeting 50,600-50,970. Bearish Confirmation: Below 49,875, with potential downside toward 49,550-49,300. Sideways Range: Between 50,147-50,310, avoid unnecessary trades. Watch Price Action for Breakouts & Rejections before entering trades. ? Disclaimer I am not a SEBI-registered analyst. This analysis is for educational purposes only. Please conduct your own research or consult with a financial advisor before making any trading decisions.
The DXY is in an ascending channel between the trend lines. The price is moving from the dynamic resistance, which previously acted as a pullback point. The chart has formed a harmonic pattern. We expect the continuation of the decline in the channel. ------------------- Share your opinion in the comments and support the idea with like. Thanks for your support!
This Is An Educational + Analytic Content That Will Teach Why And How To Enter A Trade Make Sure You Watch The Price Action Closely In Each Analysis As This Is A Very Important Part Of Our Method Disclaimer : This Analysis Can Change At Anytime Without Notice And It Is Only For The Purpose Of Assisting Traders To Make Independent Investments Decisions.
Gold (XAU/USD) is falling towards an overlap support and could potentially bounce off this level to climb higher. Buy entry is at 2,812.31 which is an overlap support that aligns with the 38.2% Fibonacci retracement level. Stop loss is at 2,800.00 which is a level that lies underneath the 38.2% Fibonacci retracement level. Take profit is at 2,847.42 which is a level that aligns with the 161.8% Fibonacci extension. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com/uk): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (www.fxcm.com/eu): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com/au): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com/au Stratos Global LLC (www.fxcm.com/markets): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
EURUSD Trading Journal Feb 4 Bull trade Analysis Price is in a discount on the daily, weekly and monthly. Note the double discount in previous range and coming into London, tipping its hand that Price would bull run. I like the confidence I am building when I see sell side liquidity taken, and in a discount trusting that price will come to the 50 and potentially reach for higher. Take partials to build confidence Price took out sell side liquidity yesterday also an confidence builder that price would take buy side. Parent bias is still bearish, however when all factors like -double discount -sell side has been taken -DXY was bearish for the day -time in 2 am macro -MOG lined up for perfect entry at 2 -.70 level for entry golden entry point -clear target of 2 sets of equal highs -FVG gap entry -price bounced off a FVG at the CE -I think this is a classic turtle soup -run on stops before a ND in NY -overall price was in Mondays range efficiency and a magnet to rebalance. ONLY PRICE DIDN'T DO WAS TAKE THE EQUAL LOWS its not perfect and yet delivered to your targets Asia opens on the session 50 level and lowers to create equal lows but does not take it. Hits the CE of 15 FVG and turns around. Both previous session and intraday session are in a discount. looking for bull runs today stay nimble and know your parent bias is bear. Remember today to trust yourself analysis, trust the the chart gives you, only trade in macro times, follow the rules.