During the Asian and European session on Friday (January 17), spot gold slightly gave up some of its overnight gains and is currently trading around $2,710. Gold prices rose to a more than one-month high on Thursday, reaching a high of $2,724.61 per ounce during the session, approaching the more than two-month high of $2,726.05 recorded on December 12 last year, and finally closed at $2,714.49 per ounce, rising for the third consecutive trading day. Mainly due to the weak performance of the latest US economic data, the weakening of core inflation pressure further depressed US bond yields, and strengthened the market's expectations of a dovish Fed policy. Fundamental analysis: The US dollar index fell 0.15% to 108.93 on Thursday, affected by the continued impact of the previous weak consumer price index data. The market expects the Fed to implement two interest rate cuts this year, of which the probability of a rate cut at the June meeting has risen to 69%. In addition, the speech of Fed official Waller further boosted the expectation of interest rate cuts. The expectation of interest rate cuts in the U.S. interest rate futures market for 2025 has increased from 37 basis points on Wednesday to 43 basis points. The expectation of loose policy supports the price of gold and attracts safe-haven funds to flow into the gold market. Technical analysis: The daily level of gold price recorded a positive closing yesterday, challenging the high of $2,726 again, but closed below $2,720 at the end of the day, indicating that the short-term market long and short forces are still in a stalemate. If the market can effectively break through $2,720 in the future, the price of gold is expected to further explore higher targets. From the 1-4 hour level, after the price of gold gained support near $2,600, it continued to fluctuate upward this month, and the short-term long structure remains intact. This week, it successfully held above $2,650, and the long space gradually expanded. Although the overnight market experienced a correction after testing the high of $2,724, the gold price is still stable near $2,710 during the current European session, indicating that the support below is strong. In the short term, we should pay attention to the effectiveness of the support in the $2,710/2,703 area. Operation suggestions: Long order strategy: Aggressive traders can try to go long with a light position below $2,710, with a stop loss set at $2,697 and a target of $2,722/2,732; Conservative traders can wait for the price to pull back to around $2,703 before trying a light long position, with a stop loss also set at $2,697 and a target of $2,722/2,732. Short order strategy: Aggressive traders can try short positions near $2,724, with a stop loss set at $2,728 and a target of $2,712/2,703; Conservative traders are advised to wait and see, and wait for the market direction to become clearer before taking action. Overall, gold prices are currently driven by bullish sentiment, but we need to pay close attention to further changes in the Fed’s policy expectations and the performance of key support and resistance areas in order to flexibly adjust trading strategies.
XAU/USD (4H) Detailed Analysis on TradingView Overview: This analysis outlines a potential bullish scenario for XAU/USD (Gold Spot) on the 4-hour chart, focusing on key liquidity levels, Fibonacci retracements, and market structure. The chart highlights a possible retracement before a move higher towards the Sell Side Liquidity zone. Key Levels: Buy Side Liquidity: The area below the current price where liquidity is likely accumulated (highlighted near 0.618 Fibonacci). This level is expected to act as a potential support for a bullish reversal. Sell Side Liquidity: A target zone around 2,743.08, representing the area where stop-losses of short positions may be triggered, driving further upward momentum. Fibonacci Levels: 0.5 (2,690.64): A moderate retracement level that might act as an early support. 0.618 (2,682.60): The "golden ratio" and a key level where price may find strong demand. Deeper retracement zones (0.786, 0.886): Possible levels in case of extended downside. Scenario: Retracement to Fibonacci Levels: The price is expected to dip into the Buy Side Liquidity zone, testing either the 0.5 or 0.618 Fibonacci retracement levels. This move would help accumulate buy orders and provide a potential entry point for long positions. Bullish Reversal and Upward Momentum: After testing the Buy Side Liquidity, the price is anticipated to reverse and move upwards, targeting the Sell Side Liquidity zone at 2,743.08. A strong breakout from this level may lead to further upside potential. Stop-Loss Adjustment: Initially, the stop-loss can be placed below the Buy Side Liquidity zone. As the price progresses upward, the stop-loss should be adjusted below key candle wicks within the Buy Side Liquidity zone to minimize risk and lock in profits. Key Considerations: Risk-Reward Ratio (R:R): This setup offers a Risk-Reward Ratio (R:R) of 1:2, meaning the potential reward is twice the risk. No Financial Advice: This is my personal trading setup and should serve as a guideline for orientation. Markets are unpredictable, and this scenario may not unfold as described. Develop your own thesis and stick to it, as personal responsibility is key in trading. Market Confirmation: Wait for clear bullish signals (e.g., bullish candlestick patterns, volume spikes) around the Buy Side Liquidity or Fibonacci levels before entering a trade. Conclusion: This analysis outlines a structured approach to trading XAU/USD, leveraging key technical levels and liquidity zones. A potential retracement to the Buy Side Liquidity zone followed by a bullish reversal offers an opportunity to capitalize on the move towards the Sell Side Liquidity zone. Patience and disciplined execution are crucial. Always manage risk carefully and adapt your plan to market conditions. Good luck! ?✨
The Exofade indicator is predicting a price target of 52.47 for $TRUMP on m15 chart. This is one of the ways i use the ExoFade, is for setting price targets . After a rally in one direction, you get a curve or peak, whatever you like to call it. This signifies the end of that rally, when can be temporary in the case where it turns out to be a pullback Or permanent in the case where it becomes a trend reversal. After the pullback or reversal the peaks formed by the ExoFade acts like a price magnet whenever price resumes that trend. The prediction ability is based on Volume & Linear Regression calculations. Even though it's super obvious the $trump coin is ridiculously overvalued at the current price. Meme degens don't care about stats or technicals . This a emotionally driven niche in the crypto market when absolutely can and will happen. Also keep in mind the technical accuracy of this analysis is can be skewed because this is a brand new launch and just had its first 24hrs so there is almost non existent historic price data for indicators to give best results..So this is just for fun to see if we do hit the price target set by the ExoFade
I am expecting more correction in Asian paints stock. Let's wait for the entry at bottom. Now it's not suitable for buy. This is for educational purposes only.
QTUM ~ 1W #QTUM If you still have Conviction on this coin,. This support block would be a very good buying place for now,. With a minimum target of 20%++
CTK ~ 1W #CTK Technically, this coin has successfully made the transition from bear to bull, buy from here if you still have Conviction on coins with a minimum target of 20%++
Technicals looks bearish for nifty. The recent pull back was rejected in the last trading session to continue the downward streak after taking the resistance. If this trend continues, nifty can likely see 23000 in short term and 22500 medium term
It seems IMX already completed its WAVE 4 via its Elliot Triple Correction Wave WXYXZ. I'm seeing that this is now attempting to form a mini wave 2 giving us a chance to enter long before it pumps again for long term hold until end of bull run. Confluence: - Elliot Wave 4 completed - Elliot Triple Correction Wave completed - Daily Market Structure Shift - Daily Sell Side Liquidity Sweep - Daily Order Block within OTE Level Entry: 1.2188 SL: 1.1036 TP: Previous ATH (TP only 80% of your holdings then let it run until we find the tip of wave 3 - will update here later on)
Weekly array is very supportive to bullish volume. As we can see, the nearest bullish imbalance zone (blue) was tapped as used as the new rally point as I always outline. With the high of that imbalance bar being used as a very sharp level telling the algo to not allow closes below that high. We will most likely not see any lower into the imbalance range besides the next monthly bear cycle as a safety net zone on the drop
SEED_DONKEYDAN_MARKET_CAP:FLOKI has a history of impulsive pumps, and this green box has proven to be a reliable indicator for identifying entry points. Another strong move appears to be on the horizon. Altseason is approaching, with bullish divergence on the RSI and a MACD reset on the daily timeframe. My green line is currently acting as support. Strategy: Enter as low as possible within the green box and sell at the peak of the next impulsive move. As always, DYOR (Do Your Own Research).