- Gold continues daily uptrend - Likely to rise to resistance level 3100.00 Gold rises sharply after breaking the resistance zone between the resistance 2956.00 (top of the previous impulse wave 3) and the round resistance level 3000.00. The breakout of this resistance zone accelerated the active impulse wave 5 of the higher order impulse wave (3) from November. Given the clear uptrend, Gold can be expected to rise to the next resistance level 3100.00 (target price for the completion of the active impulse wave 5).
GBP have a Strong strength base Daily VS Cad have a weak strength base Daily then after a discount now its opportunity for a Buy Only for Education
Based on technical factors there is a Buy position in : ? XCNUSDT ? Buy Now ?Stop loss 0.0082850 ?Target 0.0200000 ? R/R 2 ?RISK : 1% We hope it is profitable for you ❤️ Please support our activity with your likes? and comments?
So I've been tracking this idea for a couple of weeks. I think based on fractal pattern theory, that this is about to start dropping out, and really fast? Have a look at my previous GPBUSD idea, and you'll get an idea of what I've been thinking. I might be wrong, but I post because I want to hear alternative ideas, so fire away. As it stands, it looks like we need a big drop out/correction, and so have been holding a short position from 1.9557 as it's hard to truly predict when a drop out might happen. I've highlighted key support areas with circles - I'll update my idea as it hits each one, but I would'nt be surprised it we eventually got down to 1.7000 range (pink circle). I'd like to see a drop back to the green arrow/blue trend line, then we break further to the downside. The chart to the top left is a BTC chart which I use as a template to track where in the uptrends/downtrends. If you look at my last idea, you'll get an idea of what I'm on about and why I think we are where we are. We've got UK unemployment rate coming up Thursday + UK interest rates which could be the catalyst I'm looking for to the down side.
⬇️ SELL EUR/USD 20.03.25 ? Entry: $1.08926 ? Goal: $1.04254 ⛔️ Stop: $1.09548 Entry reasons: 1) OSOK: — Month maximum was set at the 3th weekly of month 2) Eliott waves: — 1D: 2th wave is formed, 3th is forming. 3) Range: — Monthly bearish range, correction into zone OTE 4) Additional arguments: — Divergence delta cluster — Divergence 1d — Weekly liquidity is captured Strategy: #osok #wave #cluster
1. Resistance Zones: The chart identifies multiple resistance levels, including a double-top resistance. However, if gold strongly breaks above the resistance, it may invalidate the bearish double-top pattern 2. Trendline Support: The trendline support is correctly identified, but trendlines are subjective. If broken, it could signal a trend reversal rather than a bounce. 3. Expected Price Movement: The projected price action assumes a pullback before continuing upwards, which is reasonable. However, the red arrow suggests a potential drop, which contradicts the bullish expectation. 4. Fundamental Factors: Gold is heavily influenced by macroeconomic factors (interest rates, inflation, geopolitical risks). Ignoring these could make the analysis incomplete
Gold continues its impulsive rally, currently completing what appears to be the final leg of wave ⑤ within an ascending channel. This aligns with the larger Elliott Wave count we've been tracking. Key points to consider: Wave Structure : We can observe the completion of five internal waves within wave ⑤, with price now at critical resistance levels near the 2.618 Fibonacci extension ($3,065.338). Bearish RSI Divergence : While price has continued to climb, RSI has started to show signs of bearish divergence, signalling weakening momentum and a potential reversal. Support Levels : Should a correction materialize, the next key areas to watch are the 0.236 ($3,025.340) and 0.382 ($2,997.608) Fibonacci retracement levels, which align with the lower trendline of the ascending channels. Wave ⑤ may be nearing exhaustion, with both the Fibonacci extension and bearish divergence suggesting caution for longs. We could see a retracement to support zones if price reverses.
? Bullish Scenario ? Key Levels: Support: 3030- 3035 Resistance: 3055, 3065, 3075 ? Entry: ✅ Buy Limit: 3030-3033 ( Retest) ✅ Buy Stop: 3052 (Breakout) ? Targets: TP1: 3055 TP2: 3065 TP3: 3075 ? SL: Below 3025 ? Confirmation: ✅ Bullish engulfing M15/M30 ✅ EMA 5/21 below price ✅ Volume spike at 3030 ? Bearish Scenario ? Key Levels: Resistance: 3049-3051 ( Rejection Zone) Support: 3035, 3028, 3015 ? Entry: ✅ Sell Limit: 3049-3051 (Rejection) ✅ Sell Stop: 3038 (Break below support) ? Targets: TP1: 3035 TP2: 3028 TP3: 3015 ? SL: Above 3055 ? Confirmation: ✅ Bearish engulfing M15-M30 ✅ EMA 5 cross below EMA 21 M15 ✅ Break below 3040 with volume ✔️ Final Notes: ? For Longs: Retest at 3030-3033 or breakout above 3052. ? For Shorts: Rejection at 3049-3051 or break below 3038. ? High volatility expected in NY session.GOOD LUCK TRADERS!
Bigger Picture SP500 Futures Update - Decision Time - Powell (FED) ruled out a recession in todays FOMC Press Conference (Bullish) - Powell announced drastically slow down QT beginning next month (Extremely bullish for risk assets) - The Asian and European stock market indices are still showing strength forming new ATHs week by week.
On March 19, the Fed dot plot showed that among the 19 officials, 4 officials believed that there should be no interest rate cut in 2025 (1 in December), 4 officials believed that the interest rate should be cut by 25 basis points in total in 2025, that is, 1 time (3 in December), 9 officials believed that the interest rate should be cut by 50 basis points in total in 2025, that is, 2 times (10 in December), 2 officials believed that the interest rate should be cut by 75 basis points in total in 2025, that is, 3 times (3 in December), no official believed that the interest rate should be cut by 100 basis points in total in 2025 (1 in December), and no official believed that the interest rate should be cut by 125 basis points in total in 2025 (1 in December). FOMC statement of the Federal Reserve: Fed Governor Waller opposed this interest rate decision. He supports not changing the policy interest rate, but prefers not to change the pace of balance sheet reduction. Futures data show that traders believe that the probability of the Fed resuming rate cuts at the June meeting is 62.1%, while the probability was 57% before the Fed made a decision. Gold technical analysis: From a technical perspective, gold is undoubtedly bullish at the current weekly, daily or 4-hour level, but the indicator shows that the current price has shown signs of divergence after a continuous rise. We previously analyzed that the price rose to 3040 and entered the bullish risk area. According to the weekly 2590 or the low 2540, one rose by 500$ and the other rose by 450$. The previous wave was 2286-2790, with an increase of 504$. This is the origin of 3040. If the double increase is calculated from 2590, there is still about 40-50$ of space. In other words, the maximum increase is 3080-90! But if it reaches 3040, don't blindly chase more, and the risk of bulls still needs to be considered. The current trend is definitely still bullish, so after the short-term correction is completed, the trend is still expected to continue to rise; The 4-hour level intraday price hit 3045 and then stepped back to 3022 to enter the range consolidation. Although the K line broke the 5-day moving average support, it showed a strong resistance to decline when it stepped back to the 10-day moving average. The key strong and weak support 3015 below did not break, so the short-term remained above 3015 and continued to be bullish. Regarding Thursday's market, our professional and senior gold analyst team recommends the following: Do not chase highs, and mainly go long on pullbacks. If it touches 3055-3058 above, consider whether there is a suitable opportunity to short. If it pulls back to 3030-3028 below, you can resolutely go long.