Hello traders, The data released by the U.S. Department of Labor shows that the unadjusted CPI in the U.S. rose by 2.9% year-on-year in December 2024, matching expectations, and up from 2.7% previously. The seasonally adjusted CPI increased by 0.4% month-on-month in December 2024, compared to an expected rise of 0.3% and a previous value of 0.3%. The seasonally adjusted core CPI rose by 0.2% month-on-month in December 2024, in line with expectations, while the previous value was 0.3%. The unadjusted core CPI rose by 3.2% year-on-year in December 2024, slightly below the expected 3.3% and the previous value of 3.3%. This indeed reflects a somewhat weak CPI data, helping Biden conclude his term with favorable numbers. On 4H chart, GOLD has reached TP1 (last high), n could run a Z zone before reach TP2-TP4. On daily chart, gold still running above EMAs. This means the long uptrend could be really long time. Traders who has not in the trend now still have chances to join later. GOOD LUCK! LESS IS MORE!
Short Term Elliott Wave view in Light Crude Oil (CL_F) suggests cycle from 12.6.2024 low is in progress as an impulse. Up from 12.6.2024 low, wave ((i)) ended at 71.44. Pullback in wave ((ii)) ended at 68.42 as the 1 hour chart below shows. The instrument extends higher in wave ((iii)) with subdivision of an impulse in lesser degree. Up from wave ((ii)), wave (i) ended at 69.94 and wave (ii) ended at 68.59. Wave (iii) higher ended at 75.29 and pullback in wave (iv) ended at 72.84. Final leg wave (v) ended at 79.27 and this completed wave ((iii)) in higher degree. From there, the instrument pullback in wave ((iv)) which ended at 77.24. Wave ((v)) higher is in progress and wave (i) of ((v)) should end soon. It should then pullback in wave (ii) to correct the rally from 77.24 low before extending higher again. Near term, as far as pivot at 68.36 low stays intact, expect pullback to find support in 3, 7, 11 swing for further upside. Once wave ((v)) is complete, the instrument should correct cycle from 12.6.2024 low in 3, 7, or 11 swing before it turns higher again.
The red around the 2700 level represents a resistance zone where the price has previously struggled to break through. The price is currently testing this area again. If the price breaks above the resistance level (2700), it could lead to further bullish momentum. If the resistance holds, the price might pull back to the support level or lower. The red and green bars could indicate potential stop-loss and take-profit levels, showing a setup for a trade. Overall, it's crucial to monitor how the price behaves around the resistance zone to determine the next move, whether a breakout or a reversal.
Market Overview: * SPY experienced a strong gap-up today, signaling bullish momentum driven by improved market sentiment and possibly favorable news/events. * Sector Performance: Leadership is evident in growth and technology sectors, while defensive plays are relatively lagging. * Volume: Notable increase in volume during the breakout, confirming institutional participation. Technical Analysis: 1-Hour Chart: * Trend: SPY continues its upward trajectory, testing resistance near $593-$595. * Indicators: * MACD: Displays positive momentum, but the histogram shows early signs of weakening. * Stochastic RSI: Overbought at 96.72, indicating potential for short-term consolidation. 30-Minute Chart: * Price Action: * SPY is consolidating below $595 resistance after breaking above $584. * The bullish gap-up aligns with recent strength, but momentum could face resistance at higher levels. * Pattern: SPY appears to be forming a rising wedge, a potential bearish reversal pattern if confirmed. Key Levels to Watch: Support Levels: * $590: Immediate support zone and HVL (Highest Volume Level). * $584: Strong support aligned with the 2nd PUT Wall. * $576: Key support, marking the lower trendline of the wedge. Resistance Levels: * $593-$595: Immediate resistance, coinciding with the 2nd CALL Wall and highest positive NETGEX. * $596-$600: Major resistance zone, with $600 as a psychological level and 3rd CALL Wall. Gamma Exposure (GEX) Insights: https://www.tradingview.com/x/owG20eTk/ Key Gamma Levels: * Positive Gamma Walls (Resistance): * $595: 71.53% GEX (2nd CALL Wall). * $596-$600: High resistance zone, with $596 holding 68.17% GEX (3rd CALL Wall). * Negative Gamma Levels (Support): * $590: Strong support, holding 15.01% GEX9. * $584: Critical support zone with PUT dominance (-0.39% GEX). Options Metrics: * IVR: 16.4, reflecting low implied volatility. * IVx: 14.4, below average, indicating stable market expectations. * Call/Put Bias: Puts dominate at 42.1%, signaling cautious sentiment. Trade Scenarios: Bullish Scenario: * Entry: Above $595 with confirmation of volume. * Target: $596-$600. * Stop-Loss: Below $590 to manage risk. Bearish Scenario: * Entry: Rejection at $595 or breakdown below $590. * Target: $584-$576. * Stop-Loss: Above $596 to minimize losses. Directional Bias: * Bullish Momentum: SPY is poised for further gains if $595 resistance is cleared, targeting $596-$600. * Caution for Pullback: Overbought conditions and rising wedge formation suggest potential consolidation or retracement toward $584-$590 support. Weekly Outlook: * SPY's bullish momentum is likely to continue if market sentiment remains positive, with $600 as the major target by week's end. However, a failure to hold $590 may trigger a retest of lower support levels, presenting short-term opportunities for traders. Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always conduct your research and trade responsibly.
Just wanted to show you guys how this pattern worked out in Nifty this time.
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Daily closed candle yesterday showed a strong bearish candle engulfed the lowest price of the day before hinting of strong bearish pressure. I'm expecting further down movement as per drawn in chart. What do you think? Mind to share your thought. Good Luck & Happy trading.
Based on the H1 chart, the price is approaching our sell entry level at 1.4390, which is a pullback resistance near the 61.8% Fibonacci retracement. This level is expected to act as a potential reversal point in the bearish setup. Our take profit is set at 1.4270, aligning with a key support level, marking a logical target for the trade. The stop loss is set at 1.4458, above a recent swing high, providing room for price fluctuations while protecting against invalidation of the bearish bias. 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. 64% 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, previously FXCM EU Ltd (www.fxcm.com/eu): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% 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.
SL : 1.0250 TP1 : 1.03430 TP2 : 1.04236 Based on Daily Chart Analysis - I know it is very strong downtrend, but It will be restrancement. That's why I am trading based on 1 HR. Good Luck. https://www.tradingview.com/x/SL8jclVM/
Gold prices rose sharply on the back of a fresh US inflation report that showed the pace of growth was not too hot. Key US economic data released recently showed that the consumer price index (CPI) in December rose 2.9% year-on-year, in line with market expectations, compared to a 2.7% increase in the November report. The core CPI (excluding food and energy prices) rose slightly more than expected, rising just 0.2% compared to a forecast of 0.3% month-on-month. US stock indexes are expected to open sharply higher in New York trading, supported by more moderate US inflation data. In overnight news, the Japanese yen rose sharply on fresh speculation that the Bank of Japan will raise interest rates at its monetary policy meeting later next week. UK consumer prices came in slightly below market expectations, raising hopes of a resumption of rate cuts when the Bank of England meets early next month.