OANDA:XAUUSD Gold Price Analysis: Bullish Momentum with Potential Reversal Zones The chart is a 4-hour candlestick chart for CFDs on WTI Crude Oil, showing the price at 78.01 USD with a gain of 1.47 USD (+1.92%). The chart includes several technical indicators and annotations, such as BOS (Break of Structure), CHoCH (Change of Character), and Fibonacci retracement levels. The chart also features volume profile bars on the right side, indicating the price levels with the highest trading volumes. Analysis Price Action: The price is currently in an uptrend, as indicated by the higher highs and higher lows. The BOS and CHoCH annotations suggest key levels where the market structure has shifted. Smart Money Concepts (SMC): The BOS and CHoCH annotations indicate areas where institutional traders might have entered or exited positions. The price has broken above a significant resistance level around 75.83 USD, suggesting bullish momentum. ICT Elliott Wave: The chart appears to be in the impulsive phase of an Elliott Wave, likely in Wave 3, which is typically the strongest wave. The Fibonacci retracement levels (0.382, 0.5, 0.618, 0.705, 0.786) provide potential support and resistance levels for the ongoing wave. Indicators: Volume Profile: The highest volume nodes are around 75.83 USD and 73.37 USD, indicating strong support and resistance levels. RSI (Relative Strength Index): The RSI is not explicitly shown, but the purple line at the bottom suggests it is being tracked. Buy and Sell Strategies Buy Strategy: Entry: Enter a long position at the current price level of 78.01 USD. Take Profit 1 (TP1): 80.00 USD (199 pips) Take Profit 2 (TP2): 82.00 USD (399 pips) Stop Loss (SL): 75.83 USD (218 pips) Sell Strategy: Entry: Enter a short position if the price falls below 75.83 USD. Take Profit 1 (TP1): 74.00 USD (183 pips) Take Profit 2 (TP2): 72.00 USD (383 pips) Stop Loss (SL): 78.01 USD (218 pips) VIP Signal: Buy: 78.01 USD TP1: 80.00 USD (199 pips) TP2: 82.00 USD (399 pips) SL: 75.83 USD (218 pips) Sell: 75.83 USD TP1: 74.00 USD (183 pips) TP2: 72.00 USD (383 pips) SL: 78.01 USD (218 pips) This comprehensive analysis leverages various trading strategies, including Price Action, Smart Money Concepts (SMC), and ICT Elliott Wave Theory, to provide detailed buy and sell strategies. The Fibonacci retracement levels, volume profile, and RSI indicators highlight key areas for optimal trading decisions.
Bear flag is pretty obvious. Is trying to break down, it might bounce back up again, just keep adding. SL triggers only if a big bullish daily candle closes above the resistance.
I see a smaller set up and a larger one this week. we have SMT divergence with the S&P and the NQ, i see the first and smaller play as a push up, wait for a break of structure to confirm up trend, get in on FVG. if that happens we target the larger FVG and wait to see if it wants to push lower or break through higher, if it is rejected we target the previous low.
Head and Soulders pattern is only valid if the neckline breaks, otherwise, it could lead to another leg up if rejected.
SONIC has broken the horizontal support level (0.75) and is falling to zero.
fill ur bags in right side , dont miss it , hurry up
SPY Technical Analysis * Support Levels: * 575: Key support from the 2nd PUT Wall. This area indicates strong PUT activity, suggesting buyers could step in here. * 580.5: Intraday support observed as the price hovers above this level. * Resistance Levels: * 586-589: Immediate resistance near the Highest Negative NETGEX and CALL activity, suggesting sellers could dominate at this zone. * 592-600: Broader resistance as SPY approaches its CALL resistance walls. The price action indicates SPY is currently consolidating near its lower range. The descending triangle formation signals potential bearish continuation. However, a break above 589 with volume might trigger a recovery towards 592-600. SPY GEX Analysis https://www.tradingview.com/x/1SytXVON/ * Gamma Exposure (GEX): * Negative GEX: Dominant below 589, increasing downside momentum if the price fails to hold. * CALL Resistance: Above 592, CALL sellers will likely act as resistance until the price stabilizes above this zone. * Implied Volatility: * IVR: 28.4, IVx: 17.2: Slightly elevated, reflecting current market uncertainty. * PUT Ratio: 65.5%: High PUT interest suggests hedging or bearish sentiment among institutions. Market Direction The SPY remains under pressure as it tests critical support levels. A break below 575 could extend declines toward the 560-550 zone. Alternatively, reclaiming 589 and holding above 592 might shift sentiment to neutral or bullish. Trading Outlook * Bearish Setup: * Entry: Below 580.5 * Target: 575, with potential to 570-560. * Stop Loss: 586. * Bullish Setup: * Entry: Above 589 * Target: 592-600. * Stop Loss: 585. Trader’s Reminder Price gaps up or down are likely due to pre-market volatility. Recheck these levels before initiating trades. Disclaimer: This analysis is for educational purposes only and not financial advice. Please consult with a financial advisor or conduct your own research before trading.
This weeks edition of The Crypto Construct. Actionable insights for BTC, ETH, SOL & XRP.
Gold prices (XAU/USD) are down slightly near $2,690 due to the stronger U.S. dollar in this morning’s trading session in Asia. However, the demand for safe-haven assets, driven by political uncertainty surrounding the incoming administration of President-elect Donald Trump, may limit the downside for gold. Positive U.S. employment data on Friday has led markets to expect that the Federal Reserve (Fed) will likely reduce interest rates less aggressively this year, putting pressure on non-yielding assets. Traders now expect the Fed to cut rates by only 30 basis points, compared to 45 basis points prior to the NFP report. In addition, geopolitical tensions in the Middle East and the ongoing Russia-Ukraine conflict continue to boost demand for gold as a safe-haven asset. Israeli airstrikes in Gaza and attacks in Lebanon are still ongoing. From a technical perspective, the 1-hour chart shows that gold is experiencing a slight pullback but is maintaining stability, supported by strong levels at 2,678 and 2,671. These support levels play a crucial role in preventing further downside. The current resistance level at 2,696 remains a significant hurdle for gold, and the likelihood of breaking this level in the short term appears limited. Meanwhile, if gold continues to hold above the support levels, the potential for a move towards the target of 2,710 is higher. A stop loss can be set at 2,667 to manage risk effectively.
Technical Analysis Overview: 1. Market Context: QQQ is currently trading within a descending wedge pattern, a structure often indicative of potential breakout setups. The price is approaching the wedge's lower boundary, showing signs of decreasing volatility. 2. Key Levels: * Support: * $503.92 (near-term support and key GEX8 level). * $497 (3rd PUT wall level and critical psychological area). * Resistance: * $515.27 to $516.91 (first resistance zone aligning with 2nd CALL wall). * $520 to $527.87 (upper wedge boundary and CALL resistance). 3. Indicators: * MACD: Bearish momentum with a slightly rising histogram indicates slowing downside pressure, but no clear reversal signal yet. * Volume: Declining volume into this wedge suggests potential accumulation but requires confirmation. 4. Trade Setup: * Bullish Scenario: * Entry above $510 (break above wedge boundary and reclaim of key resistance). * Target: $515 and $520. * Stop-Loss: $503 (below recent lows). * Bearish Scenario: * Entry below $503. * Target: $497 and $490 (down to the PUT walls). * Stop-Loss: $507. GEX Analysis for Options Trading: https://www.tradingview.com/x/cNJiqiyH/ 1. Gamma Exposure (GEX): * Positive gamma walls at $515 (2nd CALL wall) and $520 suggest strong resistance if prices climb. * Negative gamma at $503 and below highlights potential acceleration to the downside if breached. 2. IVR and Sentiment: * IVR stands at 27.2%, indicating relatively moderate implied volatility. Options traders might prefer strategies with defined risk/reward setups like vertical spreads. 3. Option Strategy Suggestions: * Bullish: * Call Debit Spread: Buy $515 CALL, Sell $520 CALL. * Expiry: Choose a date with moderate time decay, e.g., 2 weeks out. * Bearish: * Put Debit Spread: Buy $500 PUT, Sell $495 PUT. * Expiry: 1-2 weeks out, targeting the next gamma wall. Market Direction Outlook: * Based on the wedge formation, declining volume, and the position relative to gamma walls, QQQ is at a pivotal decision point. A breakout above $510 could see a bullish continuation toward $515-$520, while a breakdown below $503 would confirm bearish momentum. Traders are advised to monitor pre-market activity for any gap or sentiment shift. Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Please consult with your financial advisor or conduct your own research before executing trades. Always ensure proper risk management in your trading strategy.