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AUDUSD 0.65950 +0.36 % SHORT IDEA INTRADAY ANALYSIS MULTI TFHELLO TRADERS Hope everyone is doing great 📌 A look at AUSSIE from MULTI TIME-FRAME ANALYSIS AUDUSD 4H TF * We opening with strong bullish momentum coming into play on the 8am SAST 4H candle. * Good look for a bearish sentiment (PO3). * But seems we may see a sweep of LQ above ( true day open, & London highs) before continuation with the bears. * AUDUSD took External range LQ Mon. the 5th, looking for that internal range LQ to be taken. * With PO3 looking to open bullish this week to confirm a move higher into premium PD ARRAYS. * closure of the 4H can will clearify positions on AUDUSD. AUDUSD 1H TF * Looking for the week to open BULLISH into the 4h -OB because our HTF BIAS (PO3) Is bullish . * This is confirmed now I just need a rejection candle. * We will see what does the market dish. * 4H lookin for a push into the -OB (po3) to sell intraday, as planned. . AUDUSD 15M TF * We saw a rally with the bulls, strong momentum to the upside.. * Looking at the 1H -OB, this is where I would look for shorts entries intraday. * Should this PD ARRAY hold will be Short for the AUDUSD. * BASED on the price action served this week. HOPE YOU ENJOYED THIS OUT LOOK, SHARE YOUR PLAN BELOW,🚀 & LETS TAKE SOME WINS THIS WEEK. SEE YOU ON THE CHARTS. IF THIS IDEA ASSISTS IN ANY WAY OR IF YOU ENJOYED THIS ONE SMASH THAT 🚀 & LEAVE A COMMENT. ALWAYS APPRECIATED ____________________________________________________________________________________________________________________ Kindly follow your entry rules on entries & stops. |* Some of The idea's may be predictive yet are not financial advice or signals. | *Trading plans can change at anytime reactive to the market. | * Many stars must align with the plan before executing the trade, kindly follow your rules & RISK MANAGEMENT. _____________________________________________________________________________________________________________________ | * ENTRY & SL -KINDLY FOLLOW YOUR RULES | * RISK-MANAGEMENT | *PERIOD - I TAKE MY TRADES ON A INTRA DAY SESSIONS BASIS THIS IS NOT FINACIAL ADVICE TO EXCECUTE ❤ LOVELY TRADING WEEK TO YOU!
Short
by PULEMokhothu
5
$ABNB (Potential Bullish Reversal)Aug 8, 2024: EOD price $114.63 - Monthly: the stock price has fallen 18% - Weekly: price retraced to fib 61.8% (bullish range: 12/28/22 - 03/21/23) - Daily: RSI is under 24, MACD is still red to the downside - 4hr, MACD is curling up (same with RSI); inside candle, above open at $113.98 In call options: NASDAQ:ABNB $118c exp 8/16/2024 @ $1.14. Delta: 30 | Gamma: 6.7 | Theta: -12.69 | Vega: 5.88 Entry: $114.51 Target Price (TP): $119.99 (50%+ on contract) Stop Loss: $113 (50-60% on contract) Reward-to-Reward: 3.42-to-1 ratio Next Steps: - Monitor trade tomorrow, Friday, Aug 9 - Monitor /ES & /NQ to ensure price doesn't reverse on me drastically - Keep TP and Stop Loss
NASDAQ:ABNBLong
by Brandonthrives
Watch me read and trade the market like youve never seen before.Long video but WELL worth the watch if you're trying to learn how I do what I do. In this video I walk through every candle on a 1 minute chart prior to the impending drop - and I explain how and why I am expecting the drop. There is simply no other way to read the market with this much certainty and confidence! And whatever I do here on the 1 minute chart can be identically correlated to the 5 min, 15 min, 1HR, 1D, 1M, etc. All time frames work together and it's important to use them all to tell the story and pick the best entries. Feel free to ask questions in the comments or let me know if you found this helpful, cool, or anything! Happy Trading :)
AMEX:SPY
by ReigningTrades
3
Gold Traders Alert: Crucial Levels to Watch for the Next Trade!Key Components: Chart Type and Pair: The chart is a 1-hour (1H) timeframe for the Gold Spot/U.S. Dollar (XAU/USD) pair. Support and Resistance Levels: Horizontal Resistance Line at $2,446.18: This is labeled as "1HR LQZ" (1-hour liquidity zone), indicating a significant resistance level where price might face selling pressure. Horizontal Support Line at $2,347.82: Also labeled as "1HR LQZ," indicating a significant support level where the price might find buying interest. Trend Lines: There are descending yellow trend lines drawn, indicating a downtrend. The lower yellow trend line has a label suggesting a "Potential 3rd Touch," which typically indicates a possible point for a bounce or reversal. Price Action: The recent price action shows a lower high (LH) formation near $2,446.18, suggesting a downtrend continuation. Two potential scenarios are sketched on the right side of the chart with different colored lines (orange and green) depicting possible future price movements. Analysis: Current Trend: The overall trend appears to be bearish due to the formation of lower highs (LH) and lower lows (LL). Support and Resistance: The price is currently trading between two significant levels ($2,446.18 and $2,347.82). Breaking either level with strong momentum could indicate the next directional move. The price nearing the lower yellow trend line for a potential third touch suggests a possible bounce. If the price respects this trend line, it could indicate a temporary support. Potential Scenarios: Bullish Scenario (Green Path): If the price finds support at the lower yellow trend line and the horizontal support at $2,347.82, it might bounce back towards $2,446.18. Breaking above this level could lead to a further rise. Bearish Scenario (Orange Path): If the price fails to hold the support at the yellow trend line and $2,347.82, it might continue to fall. A break below this support level could lead to further declines, targeting lower support levels not shown in the chart.
OANDA:XAUUSD
by Adlercon333
Gold at a Crossroad: Breakout or Breakdown? Key Levels to Watch!Chart Overview Timeframe: 1-hour chart Exchange: OANDA Current Price: 2444.100 Key Levels and Zones 4HR LQZ: 2474.524 1HR LQZ: 2370.122 Support Level: 2348.660 Key Low: 2287.754 Patterns and Channels Descending Channel: The price moved within a descending channel before breaking out. Lower Highs (LH) and Lower Lows (LL) formed within this channel. Ascending Channel: The price moved into an ascending channel after breaking out of the descending channel. Higher Lows (HL) and Higher Highs (HH) are visible, indicating a potential upward trend. Current Price Action Recent Higher High (HH): Price reached a higher high at the top of the ascending channel. Potential Lower High: There is a possibility of forming a new lower high, as indicated by the recent price action near the 4HR LQZ. Rejection at 4HR LQZ: The price touched the 4HR LQZ and showed signs of rejection, pulling back slightly. Inset Chart: DXY The inset chart displays the DXY (US Dollar Index), which shows a descending pattern, potentially indicating USD weakness. This is relevant because gold often inversely correlates with the USD. Market Sentiment Bullish Signs: The breakout from the descending channel. Formation of the ascending channel with higher highs and higher lows. Bearish Signs: Rejection at the 4HR LQZ. Potential formation of a new lower high, indicating possible weakness or a reversal in the uptrend. Summary The XAUUSD chart shows a recent breakout from a descending channel and the formation of an ascending channel, suggesting a short-term bullish trend. However, the price faced rejection at the 4HR LQZ and is showing signs of forming a potential new lower high, which could indicate a reversal or consolidation phase. Monitoring key levels and market sentiment (especially USD movements) will be crucial for future price action.
OANDA:XAUUSD
by Adlercon333
58.55% Probability of USOIL Bullish Continuation This Week!Based on a mechanical top-down structural analysis from higher to lower timeframes, there's a strong probability (58.55%) of a bullish continuation in USOIL this week. This analysis, combined with hourly timeframe probabilities , suggests a favorable outlook for price movement. Follow me with the detailed top-down analyses linked below to see the key factors contributing to this bullish projection on FX:USOIL 12M: 6M: 3M: 1M: 
 2W: 1H: 2H - Entry: Take a look at these analyses to see the details behind this trade idea. If you have any questions or want to discuss further, feel free to ask. Let's make this a great trading week!
FX:USOILLong
by Fractalyst
Clean Science - All 4 Sides fully Clean & Green :)Clean Science and Technology is an India-based fine and specialty chemical manufacturing company. The Company is engaged in the business of manufacturing organic and inorganic chemicals. It operates through the Specialty Chemicals segment. This is an Investment / Portfolio Grade stock for long term After IPO, the price blasted 90% high in short time from 1400 levels to 2700 but then crashed deeply to 1200 levels - falling 54% from the ATH Now the price has taken a Clean Bullish Reversal and here are 4 different views to look at the 4 sides of Clean Science :) Top Left: Weekly Cup and Handle Breakout confirmed on Weekly - above 1552 for Target of 1755 and 1860 Top Right: Weekly Larger Rounding Bottom Breakout in Progress today - If the Price sustains above 1622 until Friday, then the BO gets confirmed for larger Target of 1998 Bottom Left: Monthly The Long Term view shows an Amazing Textbook Double Bottom Breakout - done today, if the Price sustains above the 1622 neckline by Friday EOD, then target of Double Bottom is the massive ATH at 2675 Bottom Right: Weekly The Price broke out of the Falling Parallel Channel on weekly and also completed a Retest and Bounce. Not just an ordinary retest and bounce, but the price followed the Rising 2 Bullish Continuation pattern last week which triggered the blast of 7%+ this week Once again, this is NOT a Trading Stock - Keep holding for massive 2x-4x returns. Disclaimer: Stocks-n-Trends is NOT registered with SEBI. We do not provide Buy / Sell recommendations - rather we provide detailed analysis of how to review a chart, explain multi-timeframe views purely for Educational Purposes. We strongly suggest our followers to "Learn to Ride the Tide" and consult your Financial Advisors before taking any positions. If you like our detailed analysis, please do rate us with your Likes, Boost and share your comments -Team Stocks-n-Trends
NSE:CLEANLong
by Stocks-n-Trends
The Wizard with a Magic Wand (Ward Wizard Mobility & Innovation)Ward Wizard Mobility which is a leader in the Electric 2 Wheeler Segment is all set to make headlines now. Here is a quick comparison of Weekly and Monthly charts - each showing different representation to give you clarity on how multiple patterns get embedded one within another Weekly Chart: (On Top) Price is in the process of completing a 2 Year Cup and Handle Pattern Currently, the Handle portion is in Process and to ensure a smooth and hassle free completion of Handle, the price has formed an Inverted Head and Shoulder Sub-Pattern The Target of Inv H&S is 85 which completes the Cup and Handle. And Break out Above 85 on Weekly closing will lead to a Target of 95, 120 Monthly Chart: (Bottom Left) On the Monthly chart - we see a Falling Parallel Channel Break-out, followed by a Retest and then Strong Bounce. This entire structure is a Bullish Continuation pattern (so the fall to retest the Channel should not be considered as a Correction) Weekly Chart (Bottom Right) The 2nd representation of Weekly Chart on bottom shows Why the price fell today despite hitting intraday high of more than 8%, it ended at 6.77% The primary reason for this is the Rejection is the GAP Resistance at 63. Between 63 and 53, the price has already made a clean Double Bottom pattern having neckline around 60 On the Candle stick pattern, the price has formed a Rising 2 Bullish continuation pattern as well on weekly Though the Resistance 63 is still strong, Every pattern reviewed so far indicates Bullishness - s its just a matter of time before 63 gets broken and price blasts up to its subsequent targets. When you keep practicing charts - you will be able to combine multiple patterns in just 1 screen and be able to make decisions. I have split each pattern into separate windows for clear understanding of how to read a chart on various views. Disclaimer: 3+ Years Teaching Experience in Stock Market - Technical Analysis, Behaviour Analysis, Advanced Patterns, Emotional Management, News based Trading... We are NOT SEBI Registered and Our focus is NOT providing Buy/Sell Recommendations/calls. Primary Objective is to provide detailed analysis of how to review a chart, explain multi-timeframe views purely for Educational Purposes. We strongly suggest our followers to "Learn to Ride the Tide irrespective of its Side" *** Important *** Consult your Financial Advisors before taking any positions If you like our detailed analysis, please do rate us with your Likes, Boost and share your comments -Team Stocks-n-Trends
BSE:WARDINMOBILong
by Stocks-n-Trends
400 Pips in a Week! Discover the Secret Behind Trading Strategy!Technical Breakdown Ascending Channel Formation: The price has been moving within an ascending channel, indicating a bullish trend. The upper and lower boundaries of the channel have provided resistance and support, respectively. Support/Resistance Level: A key horizontal level around 2,430 has acted as both support and resistance. This level was tested multiple times, showing its significance in the price action. Bear Flags: Two bear flags are identified, one on the 15-minute chart and another on the 30-minute chart. Bear flags typically indicate continuation patterns in a downtrend, suggesting further bearish movement. Higher High (HH) and Lower High (LH): The chart shows a higher high (HH) followed by a lower high (LH), indicating a potential shift from a bullish to a bearish trend. Price Target (TP): The TP is marked at 2,348, suggesting a potential downside target based on the current technical setup.
OANDA:XAUUSD
by Adlercon333
2
XAUUSD Poised for a Massive Breakout: Are You Ready?Chart 1: 4-Hour Timeframe Trend Analysis: The chart shows a clear upward trend, forming higher highs and higher lows. A wedge pattern is visible with converging trend lines indicating a potential breakout scenario. Key Levels: Support: Around 2348.248 (4hr LQZ). Resistance: Approximately 2412.240. Major Resistance: The upper trendline around 2480. Recent Price Action: The price has recently tested the lower trendline support and is currently retracing upwards. A lower high (LH) has formed around 2480, suggesting a potential reversal or consolidation phase. Potential Scenarios: Bullish: If the price breaks above the 2412 resistance, it may retest the upper trendline around 2480. Bearish: A break below the 4hr LQZ at 2348.248 could signal further downside towards the daily LQZ at 2267.320. Chart 2: 1-Hour Timeframe Trend Analysis: A shorter-term view confirming the upward trend with higher highs and higher lows. The formation of a wedge pattern indicates consolidation within a narrowing price range. Key Levels: Support: Around 2348.248 (4hr LQZ). Resistance: Approximately 2412.240, coinciding with the previous chart. Recent Price Action: Price recently bounced off the 4hr LQZ support level and is now hovering near the 2412 resistance. The lower high (LH) indicates sellers are stepping in around the 2412 level. Potential Scenarios: Bullish: Breaking and closing above 2412 could lead to further upside towards 2480. Bearish: Rejection at 2412 and a break below recent lows could target the 4hr LQZ support at 2348.248. Chart 3: 15-Minute Timeframe Trend Analysis: Short-term consolidation observed within a wedge pattern. Recent price action indicates potential for a breakout or breakdown from this pattern. Key Levels: Support: Around 2348.248 (4hr LQZ). Resistance: Approximately 2412.240. Recent Price Action: Price is consolidating just below the 2412 resistance level, forming a wedge pattern. The 15-minute timeframe shows the price struggling to break above 2412. Potential Scenarios: Bullish: A breakout above the wedge and 2412 resistance could lead to a quick move towards 2480. Bearish: A breakdown from the wedge could revisit the 4hr LQZ support at 2348.248. Conclusion The overall trend across multiple timeframes remains bullish with key resistance at 2412 and significant support at 2348.248. A break above 2412 could signal further upside towards 2480, while a failure to break and sustain above this level may lead to consolidation or a pullback to the 4hr LQZ support. Monitoring price action around these key levels will provide insights into the next directional move.
OANDA:XAUUSD
by Adlercon333
Nifty Analysis - The No-Nonsense "0" Indicator Strategy!!!While trading on Indices, most of us adopt 3 major strategies Intraday / BTST Trades: Referring the Open Interest (OI) positions Positional Short Term Expiry: Mostly using Chart patterns at 1 hr or 1 day coupled with Indicators like EMA 9, EMA 21, Bollinger Bands, MACD, RSI, RSI divergence etc... Positional Long Term Expiry: Using Chart patterns at different timeframes 1 hr, 1 day, 1 week etc.. in the Nifty Index Sometimes, a combination of the above 2 strategies are being used. When we fail, we talk about mentality and most often accept the failures and look for next trade. Seldom, anyone does back-testing to identify the real problem Let's review the cases above 1. Open Interest (OI) based trades = Blind Betting on a Horse which has Max bets cdn.geekvibesnation.com Without understanding the Strength, Stamina, Agility, Medical condition of a Horse, if we take bets on a horse where there is already maximum betting - the odds of winning may be higher for a Horse Race. But such blind betting ends up in confirmed failures in stock market - if we base our positions referring to OI positions because AlgoTraders & Big players usually create a Bait showing an extremely high position on one side and the moment innocent retailers are lured in that direction, using power of money & power of Algo Speed, the OI positions are cancelled and changed to opposite direction The movement is so fast that it neither hits our SL nor our preset Targets (even if it is in our favor by coincidence) - ending up in Steep losses 2. Reliance of Various Indicators = Getting attacked by Octopus img.freepik.com An index like Nifty 50 is NOT just a combination of 50 stocks, but these 50 stocks are handpicked from different Sectors and each Stock has different Weightage. A sudden News on Any particular Sector (or) A news about a particular Stock (or) Quarterly Results combined with the weightage of the Sector & Stock have a very Dynamic impact on the Nifty Index. Unlike a linear price movement on a particular stock, Index movement cannot be accurately predicted by ANY of the indicators. Especially during special situations like Quarterly Results (or) during Election (or) during Budget - there would be sudden variations across different sectors each with their weightage will have varied impact on Nifty. Like an Octopus - which can attack us using all its 8 Tentacles with varied force and independent movement - any human based algorithm considering the price values only of the Index becomes useless 3. Using Chart patterns of Index = Judging the Book by Its Cover miro.medium.com Almost all Traders are so engulfed within the Index's spot prices and premiums that we almost forget that the Index movement is NOT based on its Cover but rather based on the underlying 50 stocks. What we are doing is nothing but Gambling against the cover - which does not handle sudden turns in any of the underlying stocks which coupled with their weightage has very varied impact and becomes unpredictable Let's ignore ALL the Non-Sense above and try to read the Book (the underlying stocks) and derive trends basis Support and resistances of Index & stocks instead of using indicators Comparison of Nifty Daily, Weekly, Monthly, Quarterly: 1. The June Quarter Candle ended with strong bullish indicating that Nifty would be Green in subsequent quarter (July-September) 2. But June Monthly candle ended in a Bearish Hammer pattern (Long wick and short candle) which is an indication of Temporary Bearish Reversal for July month 3. Last week's candle ended in a Shooting Star pattern indicating a Fall this week 4. July 22 (Monday - Today's) daily candle ended negatively below Friday close. Despite a strong rise in the 1st hour propelled solely by HDFC, both Nifty and HDFC could not sustain the bounce, and both got rejected by their respective resistances and fell down indicating further downside The Above Index Analysis is perfectly in-line with our earlier analysis of RED July and GREEN September Now for a more sharp analysis, let's analyze the Top 10 Nifty stocks by weightage Top constituents by weightage HDFC Bank Ltd. 11.95 Reliance Industries Ltd. 9.98 ICICI Bank Ltd. 7.95 Infosys Ltd. 5.33 Larsen & Toubro Ltd. 3.91 Tata Consultancy Services Ltd. 3.73 ITC Ltd. 3.70 Bharti Airtel Ltd. 3.64 Axis Bank Ltd. 3.39 State Bank of India 3.07 1. HDFC Despite a 3% rise in HDFC - which single-handedly lifted Nifty higher in the 1st couple of hours, HDFC Bank faced its resistance at 1645 and fell - pulling Nifty down. Given HDFC has highest weightage and with no major news expected for HDFC or Private Banks as part of the Budget, the movement is expected to go sideways between Resistance and immediate support thus Dragging / Denying a major upside for Nifty 2. Reliance Reliance industries on daily, had formed a Double Top Breakdown - resulting a Crash of -3.5% in a single day. The price took support from previous Rounding Bottom Break out zone at 3001. this is attributed to a lack-lusture quarterly performance. The price will take some breathing and consolidate around CMP for some more days which will again arrest Nifty on downside given its weightage 3. ICICI Bank Monthly chart on ICICI clearly shows price testing a Long Term Parallel Channel top as resistance. This is about to fall further in the absence of any boost to Private Banking Sector. This is the 3rd heavy weight component of Nifty - all trying to hold Nifty on downside 4. Infy Despite posting strong Q1 results, Infy could not blast due to multiple resistances along the way (Parallel Channel + Rounding Bottom Resistance) etc...Unless 1850 is broken out decisively, Infy will not aid in lifting Nifty higher 5. L&T After a sharp rally of nearly 6x from 650 to 3860, L&T is up against a Multi-year Trendline (Parallel Channel) resistance and on weekly, the price has formed a Double Top pattern which is neither activated nor negated. Until the price decisively blasts above 3860 and also break the smaller channel on upside, there is no hope for now for Nifty to go up 6. TCS TCS by itself is struggling for nearly 4 years to break its previous ATH. Price is now on the verge of Cup and Handle Breakout on weekly, but 4290 has poised as a formidable resistance so far 7. ITC ITC on weekly has completed a Double Bottom breakout and achieved the target as well. After reaching the target, price is now starting to face resistance as this has evolved into a larger Inverted Head and Shoulder pattern. It is still Bullish in longer term, but now the price fall has triggered the beginning of Right Shoulder which is expected to reverse between 425 and 418. The trajectory of the fall to 425 where there is a multiple combination of support + trendline + right shoulder level - though bullish, will consume time atleast until Sep denying an upside for Nifty in the short term Similarly the charts of SBI - , Axis bank - and Airtel - all indicate formidable resistances ahead - putting blockers for the Nifty March.... The above strategy appears more accurate as it directly handles each of the different sector charts along with their weightage and there doesn't seem to be any confusion among any of the top 10 constituents of Nifty - all indicating downside in near term This strategy does not Rely on 3rd Party Indicators which are inaccurate. Please share your views on this detailed Research and Analysis Disclaimer: Stocks-n-Trends is NOT registered with SEBI. We do not provide Buy / Sell recommendations - rather we provide detailed analysis of how to review a chart, explain multi-timeframe views purely for Educational Purposes. We strongly suggest our followers to "Learn to Ride the Tide" and consult your Financial Advisors before taking any positions. If you like our detailed analysis, please do rate us with your Likes, Boost and share your comments -Team Stocks-n-Trends
NSE:NIFTYShort
by Stocks-n-Trends
4
Gold Price Set to Explode! Here’s What You Need to Watch Today!Hey Traders, welcome back to my channel! 🚀 Today, we're diving deep into the latest XAUUSD analysis, and trust me, you don't want to miss this one. With gold prices poised for a significant move, understanding these key levels could make all the difference in your trading strategy. Let's get started with the 1-hour chart (shown below). 📊 Chart 1: XAUUSD 1-Hour Time Frame Analysis (July 21, 2024) Key Observations: Daily Bull Flag Formation: The chart highlights a daily bull flag pattern, which indicates a continuation pattern following a strong uptrend. On the daily TF sometimes this can take a bit longer to see due to how big this flag is on the (LTF) The price has been consolidating within this flag formation. Reversal Structure (Lower High - LH): There is a reversal structure where the price made a lower high (LH), suggesting a potential bearish reversal in the short term. Structure LTF (Lower Time Frame): The price structure on the lower time frame indicates an area where price could pull back and reject off of this area indicating the continuation of the Overall move. The second way this could play off of this area is we could get a clear impulsive move above this structure and then a rejection looking for higher moves in the Shorter Time Frame. 15-Minute Time Frame: The 15-minute time frame shows a detailed view of the consolidation and break down from the flag formation. where you could see how close we are to the LQZ shown on the 1HR 1HR Liquidity Zone (LQZ): Identified at 2,390.966, this zone may act as a significant support area and also our first Take Profit we gave last week. 4HR Liquidity Zone: Marked at 2,349.179, another major support area that aligns with the daily LQZ. If price end up breaking the 1HR LQZ impulsively then we could look for this area as Take Profit and then once we get down to this area we could potentially see a pullback. Daily LQZ: The daily liquidity zone is at 2,286.809, a crucial support level for the longer-term perspective. Potential Scenarios: Scenario 1: Bullish Continuation The price could bounce off the 1HR LQZ and continue the pullback on shorter time frame to the structure indicated as Lower Time Frame Structure. indicated by the Yellow path. Scenario 2: Bearish Continuation The price may break below the 1HR LQZ and head towards the 4HR and daily LQZs. indicated by the Green path. In this situation we would need to see a clear break below the 1HR LQZ then start to form some type of bearish pattern to show the continuation that could come. Scenario 3: Reversal to Upside After testing the support levels, the price could reverse and start a new uptrend, indicated by the orange path. We would need to see a clear break above the structure indicated by the box. This way we could see that on the Shorter Time frame of things we could get a deeper pull back. Recommendations: Watch for Reactions at Support Levels: Monitor the price action around the 1HR, 4HR, and daily LQZs for potential entry points. Set Alerts: Set alerts for breakouts above the recent highs and breakdowns below the key support levels. Manage Risk: Ensure proper risk management by setting stop-losses below support levels and taking profits at resistance levels.
OANDA:XAUUSD
by Adlercon333
Gold's Next Big Move: Is This the Reversal Point?4-Hour Chart Analysis Trend Identification: Higher Highs (HH): The chart shows a consistent formation of higher highs (HH) which indicates an overall uptrend. Higher Lows (HL): The chart also demonstrates higher lows (HL), further confirming the uptrend. Key Levels: Resistance Levels: Around 2,480 and above are marked by HH. Support Levels: 2,429.42 (1HR LQZ / Reversal Point) 2,391.39 (4HR LQZ / TP 1) 2,349.05 (TP 2) 2,288.09 (TP 3) 2,265.37 (TP 4) Price Action: Triangle Pattern: A triangle pattern formed in June indicating consolidation before a breakout. Current Movement: The price has moved up to a higher high but is currently in a retracement phase, testing the 1HR LQZ / Reversal Point around 2,429.42. Projection: Potential Reversal: If the price holds above the 1HR LQZ / Reversal Point, it may indicate a reversal back towards the higher levels around 2,480. Support Tests: Failure to hold may lead to testing lower support levels at 2,391.39 (4HR LQZ / TP 1) and potentially further down to TP 2, TP 3, and TP 4. 1-Hour Chart Analysis Detailed View: Provides a closer look at the recent price movements. Confirms the higher highs observed in the 4-hour chart. Key Observations: Recent High: The price recently reached a new high around 2,480 before retracing. Immediate Support: The price is testing the 1HR LQZ / Reversal Point around 2,429.42, aligning with the 4-hour chart observations. Trading Opportunities: Long Position: If the price shows strong bullish signals and holds above the 1HR LQZ / Reversal Point. Short Position: If the price breaks below the 1HR LQZ / Reversal Point, with targets at lower support levels identified in the 4-hour chart. Summary The charts indicate an overall uptrend with recent higher highs and higher lows. Current price action is in a retracement phase, testing key support levels. Monitoring the 1HR LQZ / Reversal Point will be crucial for determining the next move, whether it will resume the uptrend or test further support levels. If you need further analysis or specific trade recommendations, feel free to ask!
COMEX:HG1!Short
by Adlercon333
Gold Trading Alert: Major Move on XAUUSD – Don't Miss Out!Key Levels and Patterns: Higher Highs (HH) and Higher Lows (HL): The chart shows a series of higher highs (HH) and higher lows (HL), indicating an overall uptrend. This pattern suggests that the bullish momentum is still in play. Ascending Channel: There is a well-defined ascending channel where the price has been moving upwards within parallel trendlines. This channel can act as a guide for potential support and resistance levels. Reversal Points (LQZ): 1-Hour LQZ / Reversal Point: Located at 2,429.190. This level is a potential area where price may reverse or find support. 4-Hour LQZ / Reversal Point: Located at 2,391.394. This level also serves as a significant support zone. Take Profit (TP) Levels: TP 1: 2,319.385 TP 2: 2,288.085 TP 3: 2,265.369 Recent Price Action: The price recently reached a higher high at around 2,458.755 and then pulled back slightly, indicating a potential short-term correction within the overall uptrend. The ascending channel suggests that if the price remains above the lower boundary of the channel, the uptrend is likely to continue. If the price breaks below the 1-hour LQZ / Reversal Point at 2,429.190, it could test the 4-hour LQZ / Reversal Point at 2,391.394. A further breakdown below this level might lead to the next support at TP 1. Analysis Summary: Bullish Scenario: The price could bounce from the current levels or the lower boundary of the ascending channel, aiming for new highs. Traders might look for buying opportunities near the support levels of the channel and reversal points. Bearish Scenario: If the price breaks below the identified reversal points and the ascending channel, it might signal a deeper correction, potentially heading towards the TP levels for possible buying opportunities at lower prices.
OANDA:XAUUSD
by Adlercon333