GOLD Is Going Up! Long!
Here is our detailed technical review for GOLD.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The price is testing a key support 2,621.75.
Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 2,686.96 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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Trend Analysis
Big Signal BTCUSD ON 120K🚀 Why You Should Consider Buying Bitcoin Now! 🚀
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BTC to 124k - Quick ThoughtsBitcoin is currently in a consolidation phase and is simply waiting to expand further toward 124k.
Ideally, we’d like to see the price take out the key low first and then head toward 124k.
If the price ignores the key low and goes straight to 124k, we can be pretty sure it will retrace at that level and then look to take out the key level afterward.
GOLD - Price can correct to support line and then bounce upHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊
A few days ago price entered to triangle, where it at once broke $2700 level and then fell to support line of this pattern.
Also, Gold broke $2595 level, but some time later it turned around from support line and soon broke $2595 level again.
Later Gold rose to resistance zone, after which made correction and then reached support line of triangle.
Then price made upward impulse, thereby exiting from triangle and breaking $2700 level, and started to trades in pennant.
In this pattern, price broke $2700 level one more time and declined to support level, after which rose to resistance line.
In my mind, Gold can fall to support line and then bounce up to $2660, exiting from pennant.
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I recommend buying at the current price with a stop-loss order Analysis:
The current price of gold is hovering around 2615.980 USD. A closer look at the 4-hour chart reveals a few key observations:
Price Action: The price has been consolidating within a defined range for the past few days. The yellow line indicates my predicted future price move.
Support and Resistance: I have identified several significant support and resistance levels on the chart. These levels have acted as areas of price congestion in the past and are likely to continue to influence price movement.
Moving Average: The 50-period SMA (Simple Moving Average) is currently providing support to the price.
Prediction:
I think the price of gold is likely to remain within the current range in the near term. A break above the upper resistance level could signal a bullish breakout, while a break below the lower support level could indicate a bearish move. However, I think the price is more likely to move upwards, as indicated by the yellow line.
Next Steps:
I will continue to monitor the price action of gold closely and adjust my analysis as needed. I will also be paying close attention to any news or events that could impact the price of gold.
Recommendation:
For traders looking to capitalize on a potential upward move in the price of gold, I recommend buying at the current price with a stop-loss order placed below the lower support level. For those who are risk-averse, I recommend waiting for a clear breakout above the upper resistance level before entering a long position.
babydoge - 100x box?Everything is still in this box, I marked the upper resistance line, it needs to be broken through and consolidated above it, after that there is emptiness on the chart, the price will grow parabolically, but while we remain in the box - this is consolidation.
The box always flies away when there is a fixation above it on the selected TF, if there is none, false takeaways often occur as here. And in most cases there is a retest of the broken level, if it was a strong resistance all this time.
Prakash Ind Long Weekly BOIt has been consolidating for the last 16 years and is now giving a breakout on both weekly and monthly timeframes. Whenever a breakout occurs, it's often accompanied by changes in revenue, profits, and other fundamental ratios, indicating that the company is performing well.
Remember to do your own research before investing.
WE MIGHT HAVE A BEARISH TRENDHello traders, I would like to take this opportunity to thank all my followers for commenting and supporting my analyses , big THANK YOU. GBPCCHF has been ranging from October this year(D1)r and now it is on our resistance zone (D1) when you check yo H4 you can see that it wants to create H&S patterns but let see what patterns are gonna form on our Resistance or it gonna break.
NB:NO REVERSAL PATTERNS NO ENTRY.
Gbp/Chf Sell IdeaGbp/Chf is at the 786 retracement.
On the 1 hour time frame it has printed a Head and Shoulders reversal Pattern.
The Current 15min candle is red and falling.
I am taking a sell trade with a tp that is shown on the chart, however I think it could fall even lower.
If you follow use risk management and good luck.
GBPUSD Might Be Waiting For Hits these LevelsHi Traders
Today 29 December 2024 Here is overview of GBPUSD current price of a currency pair at 1.25700 and two target levels for price reversal: 1.26440 (1st Target) and 1.27025 (2nd Target).
Key Level's
Current Price: 1.25700
1st Target: 1.26440
2nd Target: 1.27025
You might be waiting for the price to reverse or hit these target levels.
Lets Like and Support Be Sure to fallow me for more insights Thanks
The Nifty Intraday trend forecast for December 30, 2024The intraday trend appears bearish for December 30, 2024. Please note that the levels provided may vary due to gaps on either side. Always ensure that a stop-loss is applied to every trade. Keep in mind that derivatives trading carries significant risks.
EUR/AUD: Key Demand Zone – Preparing for the Next Leg UpWelcome back! Let me know your thoughts in the comments!
** EURAUD Analysis !
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
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$SPY #HeadNShoulders #XMasAlert #PutsRCheapAgainKeep it simple.
I'm hunting the next sign of market weakness, hopefully around these levels 598-601, will look for strong downside move past 595 and will load a mix of 1/31s 2/21s and 3/21s Puts, strike TBD.
A strong move down from this area would add to my Head N Shoulder Top Thesis.
Stay tuned, stay PAYtient.
- Prophecies