Buy Sherwin-WilliamsShort Term Trading Advice by Naranj Capital
Buy Sherwin-Williams
● Buy Range- 366 - 371
● Target- 385 - 390
● StopLoss- 360
● Potential Return- 5-6%
● Duration- 14-15 Trading Days
Tradingideas
Coca-Cola's Bull Run Intensifies: Pole & Flag Breakout Expected!The chart shows that the stock price encountered resistance near the $65 level, subsequently dropping to $52, where it found support.
After rebounding from this support, the price began to rise, successfully breaking through the Inverted Head & Shoulders pattern that had formed during the consolidation phase.
Following this breakout, the price entered another consolidation period, created an Ascending Triangle Pattern.
With another breakout, the stock price surged to an all-time high of $73.5 before experiencing a pullback.
A bullish Pole & Flag pattern has emerged on the chart, signaling a potential continuation of the upward trend.
It is expected that the price will break through this pattern and reach new highs in the near future.
USDCAD / TRADING INTO DESCENDING CHANNEL & STRAIGHT CHANNEL - 4HUSDCAD / 4H TIME FRAME
HELLO TRADERS
Trend Analysis:
1. August Price Trend:
- The price decline of 4.04% indicates a downward trend throughout the month. This could be due to various factors like market conditions, seasonal variations, or external economic influences.
2. September Price Behavior:
- The initial 1.52% rise in September suggests a possible recovery or correction after the August decline. This could indicate a shift in market sentiment or a reaction to events that occurred at the start of the month.
- The predicted 1.93% decline by the end of September suggests that the recovery was temporary and that the overall trend may continue downward. This could imply continued bearish sentiment or anticipation of adverse conditions.
Technical Analysis:
1. Current Market Condition:
The asset is under bearish pressure , As long as the price remains above 1.361, the bearish momentum is expected to continue.
2. Upward Condition:
- Target 1: If the price breaking 1.361 by closing 4h candle above it , it's expected to rise to 1.370.
- Target 2: If the price stabilizes above 1.370 , the next target is 1.374.
3. Downward Condition:
- If the price trade below 1.361 , it suggests a potential decline:
- Target 1: A decline to 1.350.
- Target 2: If it breaks below 1.350, further decline is expected to 1.344.
NAS100USD / UNDER (Sep) MONTH PRESSURE - 4HNAS100USD / 4H TIME FRAME
HELLO TRADERS
Initial Decline:
In the first part of September, prices fell by 8.21%. This indicates a negative trend early in the month.
Mid-Month Rise:
By the middle of September, prices reversed and began to increase, rising by 10.25%. This suggests a recovery or positive momentum starting mid-month.
End of Month Expectation:
It is expected that by the end of the month, prices will rise further, reaching a total increase of 14.45%. This projection suggests a continuation of the positive trend that started mid-month.
Overall, the prices of nas100usd a volatile price movement, with an initial drop followed by a recovery and an expected significant increase by the end of September.
Technical Analysis:
Current Market Condition:
The asset is under bullish pressure , As long as the price remains above 19,954, the bullish momentum is expected to continue.
Upward Condition:
- Target 1: If the price trades above 19,954, it's expected to rise to 20,432.
- Target 2: If the price stabilizes above 20.432, the next target is 20,797$.
Downward Condition:
- If the price falls below 19,954 , it suggests a potential decline:
- Target 1: A decline to 19,844.
- Target 2: If it breaks below 19,844, further decline is expected to 19,535.
XAUUSD / TENTIONS MIDDLE EAST - 4HXAUUSD/ 4H TIME FRAME
HELLO TRADERS
Current Trend:
- Prices have risen by 2.21% and reached a target.
- Prices are now trading below $2,670.
Short-Term Outlook:
- There is an expectation of a 2.00% decline.
- For the downtrend to be confirmed, gold prices need to break below $2,600.
Further Decline Potential:
- If prices stabilize below $2,600, a further decline of 5.20% is anticipated.
Reversal Possibility:
- However, if prices stabilize above $2,615, a rise of 3.25% is expected.
Technical Analysis:
Current Market Condition:
The asset is under bullish pressure , As long as the price remains above 2,615$, the bullish momentum is expected to continue.
Upward Condition:
- Target 1: If the price trades above 2,650$, it's expected to rise to 2,670$.
- Target 2: If the price stabilizes above 2,670$, the next target is 2,700$.
Downward Condition:
- If the price falls below 2,650$ , it suggests a potential decline:
- Target 1: A decline to 2,637$.
- Target 2: If it breaks below 2,637$, further decline is expected to 2,615$.
GOLD 1H AND 4H CHART ROUTE MAP UPDATEHey Everyone,
Another smashing day on the charts!!!
Please see yesterdays 1h chart update below
We got the final target hit at 2658 completing this chart idea!!!
Now please review the 4H chart idea, which we have been tracking and trading for the last two weeks, which is also playing out to perfection in true level to level fashion.
Emea5 cross and lock above 2626 opened 2645 and 2664 - Both targets were hit and completed today!!!
We are now seeing wick rejection on this level and will need a cross and lock above 2664 to open the range above or failure to lock above will see price test the lower Goldturns for the reactional bounce.
We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up.
We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before, each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGET
2626 - DONE
EMA5 CROSS AND LOCK ABOVE 2626 WILL OPEN THE FOLLOWING BULLISH TARGET
2645 - DONE
POTENTIALLY 2664 - DONE
EMA5 CROSS AND LOCK ABOVE 2664 WILL OPEN THE FOLLOWING BULLISH TARGET
2682
POTENTIALLY 2699
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
XAUUSD / TRADING UNDER BULLISH PRESSURE - 4HXAUUSD / 4H TIME FRAME
HELLO TRADERS
Gold prices have reached $2,630, driven by the conflict in the Middle East.
Trading above $2,600 indicates a current bullish sentiment, with a price increase of 1.20%.
If gold continues to rise from the current level, it is expected to increase by an additional 2.21%.
If gold breaks below the $2,600 support level, it suggests potential declines:
A 1.80% decrease . A more significant decline of 2.70% .
Technical Analysis:
1. Current Market Condition:
The asset is under bullish pressure , As long as the price remains above 2,600$, the bullish momentum is expected to continue.
2. Upward Condition:
- Target 1: If the price trades above 2,620$, it's expected to rise to 2,635$.
- Target 2: If the price stabilizes above 2,635$, the next target is 2,657$.
3. Downward Condition:
- If the price falls below 2,620$ , it suggests a potential decline:
- Target 1: A decline to 2,610$.
- Target 2: If it breaks below 2,610$, further decline is expected to 2,600$.
GOLD ROUTE MAP UPDATEHey Everyone,
Another PITASTIC day on the chart with our chart idea playing out perfectly once again.
After completing our Bullish target at 2631 yesterday we stated that we were now looking for ema5 cross and lock above 2631 to open the range above.
We got the cross and lock above 2631 opening 2644 and if momentum allows potentially 2658. 2644 was hit perfectly completing this target!!! A candle body close or cross and lock will further confirm the potential target aswell.
We are happy with 2644, as our target in this range and now observing for the rest of today.
We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before, each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGET
2631 - DONE
EMA5 CROSS AND LOCK ABOVE 2631 WILL OPEN THE FOLLOWING BULLISH TARGET
2644 - DONE
POTENTIALLY 2658
BEARISH TARGETS
2618 - DONE
EMA5 CROSS AND LOCK BELOW 2618 WILL OPEN THE RETRACEMENT RANGE
RETRACEMENT RANGE
2603 - 2588
EMA5 CROSS AND LOCK BELOW 2588 WILL OPEN THE SWING RANGE
SWING RANGE
2575 - 2558
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
NAS100USD / TRADING BELOW 19,954 - 4HNAS100USD / 4H TIME FRAME
HELLO TRADERS
The text indicates a decline in July by 16.62%, followed by a recovery in August with a 15.64% increase. This suggests a reversal or correction phase from the previous decline.
Prices are trading below the key level of 19,954. This level is pivotal, as it serves as a reference point for determining future price movements.
Technical Analysis:
If prices remain below 19,954, the analysis predicts a potential decline of up to 8.29%, with support levels at 19,187, 18,688, and 18,317.
A break above 19,954 could signal a trend reversal, with potential resistance levels at 20,194 and 20,714.
UPWARD TARGET : 20,194 , 20,714.
DOWNWARD TARGET : 19,187 , 18,688 , 18,317.
USOIL / TRADING BELOW TURNING LEVEL - 4HUSOIL / 4H TIME FRAME
HELLO TRADERS
July Decline: The significant drop of 15.34% indicates a bearish trend, which could be attributed to various factors such as market corrections, economic conditions, or changes in consumer behavior.
August Recovery: The rise of 11.74% suggests a potential recovery or rebound, possibly driven by positive news, increased demand, or market adjustments. However, this increase was followed by another decline within the same month.
Second August Decline: The 18.23% drop following the initial recovery may indicate market volatility or the market's inability to sustain upward momentum. This could also signal investor uncertainty or reactions to external factors.
September Projection: The forecasted decline of 4.66% in September suggests that the overall trend remains negative. This could imply a continuing lack of confidence in the market, or it may reflect seasonal trends affecting prices.
Technical analysis:
The level at 71.51 serves as a key resistance. If the price remains below this level, a decline towards 68.80 is expected. If this level is breached, the next support could be around 67.19.
Conversely, if the price breaks above 71.51, it may indicate bullish momentum, with targets at 73.99 and then 76.10.
UPWARD TARGET : 73.99 , 76.10 .
DOWNWARD TARGET : 68.80 , 67.19.
The Fed is testing the economy with 50 interest rate pointsThe 50bp reduce withinside the federal finances price to 5.0% surpassed Fitch`s expectancies in its September 2024 Global Economic Outlook. The length of the pass changed into difficult to justify primarily based totally on incoming financial data, with center offerings CPI inflation closing excessive at 4.9% 12 months-on-12 months in August and growing to 0.4% month-on-month.
The selection appears partly to mirror a `hazard assessment` detail in reaction to latest labour marketplace dynamics, wherein the unemployment price has risen to 4.2% in August from 3.7% in December 2023. While the Fed`s brand new forecasts display unemployment closing low, Fed Chair Jerome Powell made severa references on the post-assembly press convention to the hazard that unemployment could - unexpectedly - maintain to rise.
Significant enhancements in center inflation due to the fact that July 2023 have enabled the Fed to refocus at the most employment thing of its twin mandate, after having had a unique attention on inflation due to the fact that early 2022.
💎 OANDA:XAUUSD Buy 2606 - 2603💎
✔️TP1: 2616
✔️TP2: 2626
✔️TP3: OPEN
🚫SL: 2593
➖➖➖➖➖➖➖➖
💎 OANDA:XAUUSD Sell 2634 - 2637💎
✔️TP1: 2620
✔️TP2: 2610
✔️TP3: OPEN
🚫SL: 2644
Market News Report - 22 September 2024It was a historic week in FX, as the Fed delivered a half-percent interest rate cut for the first time since 2020. Based partly on this news, currencies like the British pound and the Australian dollar found strength across numerous markets.
In our latest news report, let's see what to expect from all the major forex markets performance-wise.
Market Overview
Below is a brief technical and fundamental analysis breakdown for all major currencies.
US dollar (USD)
Short-term outlook: bearish.
Unsurprisingly, the Fed delivered a dovish move with a historic 50 basis points (bps) rate cut. So, the bearish bias firmly remains, with signals of two 25 bps cuts in the pipeline for the rest of 2024.
Furthermore, unemployment was recently revised higher.
The DXY chart aligns perfectly with the fundamentals, having recently reached a major support area (100.617) on the daily chart. Interestingly, a clear break has yet to occur after several weeks. So, be mindful of a potential technically driven retracement.
Meanwhile, the key resistance is far away at 107.348, which will remain untouched for some time.
Long-term outlook: weak bearish.
Markets anticipate several full rate cuts before the year ends, with the Fed being keen to harness a soft landing. Also, any data on weakened jobs would be another bearish driver for the dollar.
However, any potential strength in upcoming GDP (Gross Domestic Product) and jobs would make rate cuts less urgent, allowing for a USD retracement.
Euro (EUR)
Short-term outlook: weak bearish.
As usual, the STIR (short-term interest markets) were predictably accurate as the European Central Bank (ECB) cut the interest rate. While 'being mum' about forward guidance, they revised core inflation projections higher.
Sources report that a cut in October is unlikely, but one in December is more likely.
Meanwhile, the chart tells a slightly different story. After recently breaking a major resistance, the next target is 1.12757. Meanwhile, the key support area lies far below at 1.07774.
Long-term outlook: weak bearish.
The ECB hasn't committed to a specific future path with the interest rate. Due to lingering concerns over services inflation, a rate cut in October is less likely, with a 76% chance of a hold (according to STIR markets).
So future inflation data remains key, with improvements likely to tick the euro higher. We should note that the interest rate differential has become more positive for EUR after the latest Fed cut.
British pound (GBP)
Short-term outlook: bearish.
The Bank of England (BoE) kept the interest rate steady in last week's meeting. Still, the language indicates they need to be "restrictive for sufficiently long."
As with the ECB, the central bank's current key theme is fighting persistent inflation in the United Kingdom. So, it makes more sense to be dovish than hawkish. Expect any shocks in inflation (or other data like labour) to send the pound lower.
Like the euro, the British pound has been saved by dollar weakness on the charts. However, it is more bullish. We must go onto the weekly chart to see the next resistance target at (1.34825). However, it hasn't yet properly broken the closest area at 1.32666.
On the other hand, the nearest key support is far away at 1.26156.
Long-term outlook: bearish.
Sequential rate cuts by the BoE may soon be a reality. Also, expect any weak CPI, labour, and GDP data to back up the bearish bias.
Another interesting point is the latest CFTC (Commodity Futures Trading Commission) report, showing that GBP longs have been stretched to the upside. So, bullishness should be limited.
Japanese yen (JPY)
Short-term outlook: bullish.
The primary bullish catalyst is the Bank of Japan's (BoJ) recent decision to hike the interest rate.
STIR markets expect a hold (99% probability) at the next meeting but a hike at the start of next year.
Governor Ueda of the BoJ noted that despite domestic economic recovery, recent exchange rate movements have reduced the upside risk of inflation. All of this backs up the potential for a rate hold or hike.
USD/JPY has long been bearish, recently surpassing (but not breaking with confidence) the major resistance at 140.252. Meanwhile, the major resistance (at 161.950) is too far for traders to worry about.
Long-term outlook: weak bullish.
Lower US Treasury yields are one bullish catalyst for the yen. Inflation pressures and wage growth would also provide upward momentum.
We should also consider that the dovish tendencies of other major central banks are JPY-positive.
Australian dollar (AUD)
Short-term outlook: weak bullish.
The Reserve Bank of Australia (RBA) unsurprisingly kept the interest rate unchanged not long ago to keep the fight against persistent inflation rate. (Diarise the upcoming rate statement on Tuesday for AUD.)
Governor Bullock also stressed that the latter's results need to improve before a cut is envisioned.
The Aussie remains sensitive to China's recent economic woes, especially with declining iron ore prices from the country's steelmakers.
The Aussie market has risen noticeably of late, having exceeded the recent resistance level (at 0.68239). While the next nearby target is 0.68711, we need to see how it behaves near the latter.
Meanwhile, the major support level is down at 0.63484.
Long-term outlook: weak bullish.
The RBA remains hawkish as per their last meeting, focusing on core inflation. Overall, it's crucial to be data-dependent with the Aussie, with recent labour data keeping the bullish script alive.
However, the Australian dollar is pro-cyclical, so it is exposed to slow economic growth in other countries.
New Zealand dollar (NZD)
Short-term outlook: weak bearish.
New Zealand's central bank recently dropped the Kiwi's interest rate from 5.50% to 5.25%.
Lower-revised cash rate projections also hint at the potential for further cuts in the near future.
The Kiwi has recently breached a major resistance at 0.62220. While the next target is at 0.63696, the latter area is still worth considering.
Conversely, the major support is at 0.58498, an area which it is unlikely to test soon.
Long-term outlook: weak bearish.
In its latest meeting, the central bank's dovish stance (where it cut the interest rate) puts the Kiwi in a 'bearish bracket.'
However, as a risk-sensitive currency like the Aussie, any growth data in China could trigger bullishness for NZD. As with its counterpart, traders should be data-dependent.
Canadian dollar (CAD)
Short-term outlook: bearish.
The Bank of Canada (BoC) dropped the interest rate to 4.25%, as anticipated by the markets for some time. Further cuts in the next few meetings are on the cards, with the long-term target being 3%.
Rising unemployment and weak economic growth are the key drivers for this dovishness. The ongoing mortgage stress remains another bearish catalyst.
The CAD continues to strengthen mildly due to USD weakness. It now looks to test the next major support target at 1.33586, while the major resistance is far ahead at 1.39468.
Long-term outlook: weak bearish.
Expectations of a rate cut remain the focal point. Governor Macklem himself stated some time ago that it's reasonable to expect more cuts in the future. Moreover, STIR markets have priced in an additional cut sometime this year.
The mortgage stress remains a major factor in this interest rate policy, and the BoC will have to cut rates to alleviate it. Still, this narrative is getting tired.
Expect encouraging oil prices, along with general economic data improvement, to save the Canadian dollar's blushes.
Swiss franc (CHF)
Short-term outlook: bearish.
STIR markets forecast a 25bps rate cut this week (a 43% chance, up from 36% in the last week) and a 50bps cut in December this year.
Secondly, SNB expects a moderate improvement in inflation, GDP (Gross Domestic Product), and unemployment to rise slightly in the near term.
Still, the Swiss franc can strengthen during geopolitical tensions, such as a worsening Middle East crisis.
We are seeing a clear range on USD/CHF in a strong bear move. So, let's see which side the market is going to incline more towards going forward.
The major support level is closer at (0.83326), while the major resistance level is far higher at 0.92244.
Long-term outlook: weak bearish.
The expected rate cut in the next SNB meetings for 2024 is the main bearish driver. However, the SNB's chairperson, Thomas Jordan, expressed that "appreciation of the Swiss Franc has an impact on monetary policy." This means that potential intervention by the central bank can go either way.
Conclusion
This week should be milder than the previous one filled with interest rate decisions. The main high-impact economic release to watch out for is the RBA rate statement on Tuesday.
As always, hope for the best and prepare for the worst, but this report should help you determine your bias toward each currency.
GOLD ROUTE MAP UPDATEHey Everyone,
Great start to the week with both our Bearish target 2618 and Bullish target 2631 hit, just like we said.
No cross and lock below 2618 gave the rejection bounce twice into 2631. We will now look for ema5 cross and lock above 2631 to open the range above. Failure to lock above 2631, will follow with a rejection back to 2618
We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for the next range.
We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up.
We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGET
2631 - DONE
EMA5 CROSS AND LOCK ABOVE 2631 WILL OPEN THE FOLLOWING BULLISH TARGET
2644
POTENTIALLY 2658
BEARISH TARGETS
2618 - DONE
EMA5 CROSS AND LOCK BELOW 2618 WILL OPEN THE RETRACEMENT RANGE
RETRACEMENT RANGE
2603 - 2588
EMA5 CROSS AND LOCK BELOW 2588 WILL OPEN THE SWING RANGE
SWING RANGE
2575 - 2558
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
EURUSD / TRADING BELOW TURNING LEVEL - 4HEURUSD / 4H TIME FRAME
HELLO TRADERS
Month-by-Month Price Movements:
June : Prices increased by 2.48%, indicating a bullish trend during this period.
July: A reversal occurred with prices decreasing by 1.48%, showing market correction or loss of momentum.
August: Prices surged again by 3.88%, suggesting renewed market strength or positive market
sentiment.
September (Forecast): A predicted decline of 1.26% could be attributed to cyclical market behavior, profit-taking, or external factors influencing the market.
Technical Analysis:
If prices drop below 1.114, further declines are anticipated, targeting 1.102 and potentially 1.094. This suggests a bearish outlook below the critical threshold of 1.114, where traders could expect more downside.
However , A break above 1.115 signals bullish momentum, with prices potentially rising to 1.120 and 1.123. This implies that breaching 1.115 could trigger buying interest, pushing prices higher.
UPWARD TARGET : 1.120 , 1.123.
DOWNWARD TARGET : 1.102 , 1.094.
BTCUSDT / BREAKOUT THE DESCENDING CHANNEL - 4HBTCUSDT / 4H TIME FRAME
HELLO TRADERS
1. August Price Movements:
- Early August: The price declined by 29.54%.
- Mid-August: The price increased by 32.55%.
2. September Price Movements:
- Early September: The price declined by 18.96%.
- Mid-September: The price increased by 14.37%.
Technical Analysis:
1. Current Market Condition:
The asset is under bullish pressure following a breakout from a channel , As long as the price remains above 60.767, the bullish momentum is expected to continue.
2. Upward Condition:
- Target 1: If the price trades above 60.767, it's expected to rise to 65.015.
- Target 2: If the price stabilizes above 65.015, the next target is 69.573.
3. Downward Condition:
- If the price falls below 60.767, it suggests a potential decline:
- Target 1: A decline to 56.154.
- Target 2: If it breaks below 56.154, further decline is expected to 52.679.
Gold hits all-time high every day?Gold touched a file excessive in advance of US facts that`s predicted to offer clues on whether or not the Federal Reserve`s 50-basis-factor fee discount ultimate week could be the primary in a chain of competitive cuts.
Bullion rose as a lot as 0.2% to hit $2,625.89 an ounce, beating the preceding all-time excessive published Friday. Traders are weighing the outlook for charges in advance of a batch of essential financial facts — which include the United States private intake prices gauge and jobless claims — due later withinside the week.
Fed Governor Christopher Waller stated on Friday he`d possibly returned quarter-factor cuts at every of the following critical financial institution coverage conferences in November and December, need to the financial system evolve as he expects. Still, he stated any other half-percentage-factor reduce may want to eventuate if the process marketplace weakens.
Gold investors have been additionally tracking escalating tensions withinside the Middle East, on worries combating among Hezbollah and Israel may want to expand into a much wider nearby conflict. That could possibly bolster the metal`s haven status.
💎 OANDA:XAUUSD Buy 2559 - 2561💎
✔️TP1: 2570
✔️TP2: 2590
✔️TP3: OPEN
🚫SL: 2550
➖➖➖➖➖➖➖➖
💎 OANDA:XAUUSD Sell 2630 - 2632💎
✔️TP1: 2620
✔️TP2: 2610
✔️TP3: OPEN
🚫SL: 2640
GOLD 1H CHART ROUTE MAP & TRADING PLAN FOR THE WEEKHey Everyone,
Please see our updated 1h chart levels and targets for the coming week.
We are in a new rage but just like last time we were able to generate accurate levels to use for the coming week.
We are seeing price between two weighted levels. We have 2631 Goldturn resistance and 2618, as Goldturn support.
We currently have a gap above on market open at 2631 and below at 2618 and will need ema5 cross and lock on either weighted level to determine the next range.
We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for the next range.
We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up.
We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGET
2631
EMA5 CROSS AND LOCK ABOVE 2631 WILL OPEN THE FOLLOWING BULLISH TARGET
2644
POTENTIALLY 2658
BEARISH TARGETS
2618
EMA5 CROSS AND LOCK BELOW 2618 WILL OPEN THE RETRACEMENT RANGE
RETRACEMENT RANGE
2603 - 2588
EMA5 CROSS AND LOCK BELOW 2558 WILL OPEN THE SWING RANGE
SWING RANGE
2575 - 2558
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
DAILY CHART MID/LONG TERM CHART UPDATEHey Everyone,
Please see update on our daily chart structure that we have been tracking and trading successfully for a while now.
Previously the candle body close above 2521 opened 2566, which was hit perfectly. We then hade a candle body close above 2566 leaving a long term gap to 2608 and we also stated that if we get a ema5 lock then this will further strengthen the gap.
Usually the higher timeframes may not have room for ema5 lock so a candle body close is also suffice. On this occasion last week we got both the body close and ema5 lock and then our target was complete perfectly allowing us plenty of time to get in for the action after confirmation.
We now have a candle body close above 2608 leaving a longer range/term target open at 2650 and, as usual ema5 cross and lock will further confirm this.
We have to also keep in mind that we have a support range between 2566 - 2521 for longer range support areas to buy strategic dips, should the corrections take place before completing gaps above.
We will use smaller timeframe analysis and trading plans to navigate the range in true level to level fashion.
Our long term bias is Bullish and therefore we will continue to use our smaller timeframes to buy dips using our levels and setups.
Buying dips allows us to safely manage any swings rather then chasing the bull from the top.
Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
WEEKLY CHART MID/LONG TERM CHART UPDATEHey Everyone,
Please see update on our weekly chart idea and analysis that we have been tracking and trading for several months and now finally complete.
After completing all the previous targets and highlighted correctional areas from detachments, last week we stated that we now have a candle body close above 2557 leaving a long term Axis gap target to 2603, which we had shared on this chart number of weeks back.
We also stated that the new weekly candle will have a detachment below for a correction, which will show up when market opens.
- This played out perfectly, we got the drop into the correctional area highlighted with the circle on the chart and then the bounce giving our target at 2603 axis a Perfect finish - BOOOOM!!!
This weekly chart idea is now complete after tracking and trading this for several months. We will now update a new weekly chart plan and idea next week for the months ahead.
Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
GOLD MONTHLY CHART LONG TERM/RANGE ROUTE MAPHey Everyone,
After completing our last monthly chart long term/range chart idea, we never had a chance to update a new long term plan and so here you go!!!
2499 candle body close left a gap open last month to 2589. This gap was hit perfectly this month at 2589. We are now seeing play above 2589 but will need the month candle to close above this level to open 2702 AXIS target.
Failure to close above this level this month will see a rejection into the channel top for a bounce and a further close below the channel top or 2499 will see a further drop into the channel half line for the next correctional test and bounce.
Each of the lower Goldturn levels below are likely to give re-actional bounces using our shorter time frame idea.
2825 is our final long range/term target on this chart idea and we will look to continue to buy dips using our smaller timeframe ideas rather then chasing the bull form the top.
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
Rally Revved: Meta Shifts into High Gear After Rate CutsThe stock price has been on a wild ride this year, marked by significant volatility.
A clear Cup & Handle formation has emerged on the chart, suggested a potential continuation of the existing trend.
Following a successful breakout, the stock has maintained its position above the breakout level, demonstrating strength.
The price action suggests that the stock could potentially rally by 18-20% in the short term.
GOLD ROUTE MAP UPDATEHey Everyone,
And another PIPTASTIC finish to the week, completing all our Bullish targets!!
After completing the first round of targets yesterday, we stated that we will now look for ema5 cross and lock above 2591 to open 2603 and 2615.
We got the lock above 2591 and then followed with the perfect hit on 2603 and 2615 completing the targets to perfection.
BULLISH TARGET
2581 - DONE
EMA5 CROSS AND LOCK ABOVE 2581 WILL OPEN THE FOLLOWING BULLISH TARGET
2591 - DONE
EMA5 CROSS AND LOCK ABOVE 2591 WILL OPEN THE FOLLOWING BULLISH TARGET
2603 - DONE
POTENTIALLY 2615 - DONE
BEARISH TARGETS
2567 - DONE
EMA5 CROSS AND LOCK BELOW 2567 WILL OPEN THE RETRACEMENT RANGE
RETRACEMENT RANGE
2554 (DONE) - 2538
We will now come back Sunday with our updated Multi time-frame analysis, Gold route map and trading plans for the week ahead.
Have a smashing weekend!! And once again, thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
USDJPY - at most expensive supporting area, holds or not??#USDJPY.. well guys market just dropped and reached near to his one of the most important supporting area of the year.
that is 141.10
keep close that supporting area because that is only hope for buyers. any kind of weakness below that will be very expensive for buyers and for Japan as well.
one thing is keep in mind that below 141.00 cut n reverse will be a good option on confirmation.
don't be lazy here.
good luck
trade wisely
