Weekly has a bullish trendline breakout but looking ahead Trump's tariff likely to create volatility for OANDA:USDJPY Looking to sell near 151 after 4H CHOCH.
Gold on Friday last week trying to breakout the resistance and target $3100 plus, I have two setup signals for you FIRST BUY SETUP: One we can setup buy entry price below EP: between $3074 - $3073 SL: $3072 TP1: $3085 (resistance highest at $3086) TP2: $3100 (if breakout resistance price) SECOND BUY SETUP: we can setup buy entry price below (if hit SL setup above and break down at price $3070) EP: below $3068 - $3065 SL: $3064 TP1: $3085 (resistance highest at $3086) TP2: $3100 (if breakout resistance price)
Nifty may form inverse Head & Shoulder pattern. This is one of the sign of early revetsal
Work best for >+1 day till expiration contract. (SWING) Personal Interpretation of Indicator: 5MA=yellow(scalp trend) 20MA=orange(pullback of a larger timeframe’s 5MA trend) I read how previous candles are behaving around 1hr 20MA and use pullback test rejection for direction signal. (Trade Planning, knowing the MA are align with larger timeframes like 4hr or day) Then, I use 15min 20MA pullback test with wick rejection to find cheaper price entry.
QQQ Weekly Chart. Very similar structure and price action to the run up and subsequent bear market of 2022. Plan is to sell into strength and possibly look for longs off deep support levels. If this scenario unfolds it will require adaptability and will present difficult trading scenarios that will punish hesitation and chasing. Great opportunities for long term investors off deep support levels such as 200 SMA on higher timeframes. A pull back to 450 would be the first target and the 21 EMA on the Monthly chart and the 89 EMA on the Weekly. Look for possible put options 7-21 DTE.
The S&P 500 is pointing at a long descent downwards based upon simple technical analysis. To further bolster our projection of the market it is no secret the recent trade wars are going to have a major negative impact upon the US & world economy for obvious reasons. With this in mind we can paint a clear picture of where price action is going to head. The question remains where do we enter short? As we can see in our chart we have broke the current upwards bullish weekly trend line #2. Price action has quickly took a swing downwards to our second trend line #1. In short trend lines simply put are the bottom lows of a bullish market. We can clearly define these trend lines over a long period of time where price action has risen, declined, and then continued its current trend upwards. By marking three bottom or more bottoms lows in a bullish market we can project bottom prices of where price action should never cross below. So what happens when price crosses below these said trend lines? Easy, price action will decrease. This is the case on our chart viewing for trend #2. As for where price action will continue downwards and stop we can simply view the past history of the market to determine this. Viewing trend line #1 we can see this was the bottom start of the bullish market was 2023 Oct on the weekly chart. Price action has increased aprox. 48 percent with no more than a 8.5 percent in the summer of 2024. That is until our King Donny Trump entered office. From the top of last peak in this bullish cycle SPX has fallen roughly 6.5 percent. Price has clearly broken trend line #2 and is now testing the resistance of price at trend line #1. If price shall break the trend line #2 we will easily fall into our support zone #1. Support zones are nothing more than where price action consolidated sideways for a period of time. These zones are like magnets. Price almost always 'pulls' towards these zones as it is a proven history of the market resistance and support. The earning moving average(EMA) of the SPX is even more concerning. The red(10 day), blue(21 day), yellow(50day) are the thin lines just below the candles in the chart. The EMA is exactly what it sounds like. The past earning moving average over the past 'x' amount of days. Viewing the EMA data allows you see if the price average is above, on par, or below 'x' amount of past days. This is very important key metric to determine the average market price over a period of time as you can imagine. Even more so important is when price declines below the EMA line. Price going below a 50, 100, or 200 day moving average are levels we want to watch. Currently price action has bounced right off the 50 day EMA. No surprise as this is a very important resistance level day traders will buy only to sell off shortly after. Crossing below the 50 day(yellow line) is known as the 'death cross' for a reason. If price crosses below it we can certainly count on a decline in price action into support zone #1 with easy.
This chart is what I would consider the worse case scenario. Sideways action until we hit the Great Depression trend line. The two previous lost years are a little over 16 years long from start to break out. This shows an example of we were to complete that same pattern. We are long overdue for a correction and this would bring us back to reality.
The pair has moved lower 18.1200 area in line with SELL strategy, but fell short heavily sad to say. Thereafter, we spiked and we have finished the day with a hammer top. The regression channel sloping down ward, shows the expected parameters, and usually a move beyond that, would trigger a move back towards the mid-range of the channel. the 18.3850 area highlighted some days back, is significant, and it changes the scope a bit. However, for now in line with slight overbought levels and the quick spike, and being slightly above the regression channel top, suggest we may see a pullback again. there is some dangers of higher levels due to positive indicators, and that is why patience is warranted before selling should be done. Strategy SELL @ 18.4500 - 18.4950 and take profit near 18.2750 when seen.
Next week plan will be Long EURUSD. The downtrend now broke. I will buy EURUSD at 1.08308 on Monday. Stoploss : 1.07275 TP (maybe) : 1.09452 I never known the TP. :) Goodluck!
the same pattern golds did the last trading month, is the same im expecting around new month opening price (april), sellsideliquidity drop and then a pretty good distribution on po3