C98 ~ 1D Analysis #C98 Buy after successfully penetrating this resistant line with a short -term target of at least 10%+.
Berita Fundamental saat ini mendukung kenaikan gold
Shorts were good while it lasted... looks like a good time to buy pullbacks. It would be wise to wait for a clear 3 wave correction though. Elliot Wave Analysis shows a larger degree wave IV was completed in March 2020. Since then, the Russell 2000 has been nesting within a bullish rectangle chart pattern, possibly working its way up to the larger degree wave V. Seasonality Chart shows a bullish April with a possible correction in May. Nevertheless, I will not commit to long trades till the chart clearly shows that we are out of the woods. A clear 3 waves move down closer to 1800 in the hourly/4 hourly time frame would be a good setup.
Given the global economic turmoil, Genting might well be on its way to trend below RM3.00 to close its previous gap. The gap lies within the fibo 0.786 while the lower support level is around RM2.50
Market news: Only 13 hours after it came into effect, Trump announced the suspension of the reciprocal tariff policy for most economies for 90 days for negotiations. Trump also said that he had been considering the suspension in the past few days. He now suspends the reciprocal measures because he feels that everyone has overreacted, and seems a bit panicked and a bit scared. He will consider exempting some American companies; the White House said that a 10% global tariff will still be imposed during the negotiations, and previously announced industry tariffs such as automobiles, steel and aluminum are not included in the suspension. Technical analysis: Today's buying and selling boundaries: 3050.81 Support and resistance levels: 3179 3131 3100 3001 2970 2922 Trading strategy: If the price breaks through 3100, consider buying, the first target price is 3131 If the price breaks through 3050, consider selling, the first target price is 3001
Market news: Only 13 hours after it came into effect, Trump announced the suspension of the reciprocal tariff policy for most economies for 90 days for negotiations. Trump also said that he had been considering the suspension in the past few days. He now suspends the reciprocal measures because he feels that everyone has overreacted, and seems a bit panicked and a bit scared. He will consider exempting some American companies; the White House said that a 10% global tariff will still be imposed during the negotiations, and previously announced industry tariffs such as automobiles, steel and aluminum are not included in the suspension. Technical analysis: Today's buying and selling boundaries: 1.0985 Support and resistance levels: 1.1165 1.1098 1.1054 1.0916 1.0873 1.0806 Trading strategy: If the price breaks through 1.0985, consider buying, the first target price is 1.1054 If the price breaks through 1.0916, consider selling, the first target price is 1.0873
Technical Analysis Summary (Multi-Timeframe View) Price Structure & Patterns Higher lows since April 8th = bullish market structure Several bullish candles (belt-hold, closing marubozu, doji on higher TF) suggest momentum shift upward The bearish harami on the 30-min adds caution — likely short-term consolidation, not reversal Support & Resistance Zones Support: 1.2785–1.2800 (prior rejection zone + buyer defense) Current minor resistance: 1.2845–1.2855 (hit twice recently — strong short-term cap) Next real resistance: 1.2890–1.2915 (April 7–8 highs) Major resistance: 1.2935–1.2950 (where sellers aggressively capped rallies on April 7) Indicators of Note RSI on 1H = 72.56 → approaching overbought, which aligns with current resistance MACD on 4H is positive = bullish momentum, though 1H MACD is nearly flat → move is maturing ADX 1H = 44 → Strong trend ATR 1H = 0.00358 (≈ 36 pips) → Expect that kind of volatility range Fundamentals April 9 FOMC Minutes: Hawkish USD strength likely to return soon, but it hasn't crushed GBP yet. April 10 CPI (coming up soon): Expectations are slightly soft: CPI 2.6% vs previous 2.8%, Core CPI flat If CPI misses → dollar weakens, GBP/USD rallies to next resistance If CPI beats → USD strengthens, GBP/USD pullback likely April 11 UK GDP and Trade GDP expected positive (from -0.17% to +0.1%) → could support GBP Option 1: Conservative TP (Safe Profit Lock-In) TP1: 1.2860 = Just under current resistance It's been tested a few times and could act as a double top if CPI hits strong. Option 2: Moderate-Aggressive TP (Event Risk Carry) TP2: 1.2870–1.2915 = Next resistance zone, April 7–8 top Bullish structure + current momentum could extend if CPI is dollar-negative (inflation soft). Good night everyone!
I mentioned in my previous analysis that we are waiting for a short (the previous one was a long-then-short linked with this idea). I did not post any short idea yesterday after that NOT because I am good and recognize a double combination. It's really because I was too busy with work and I am glad my last was a long-then-short. Back to this, remember that the huge volatility has caused the points in the chart to compress and thus even though the stop loss looks small, it is actually still quite a number of points away. So my suggestion is to manage your size and keep it small relative to your account. Good luck!
NVDA has come back to its "Golden Genesis" fib. We had a high apogee orbit and have returned. What happens here will determine the trend. It is PROBABLE that we orbit this a few times. It is POSSIBLE that we reject to the fib below. It is PLAUSIBLE that we break to next fib above. ==========================================
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