You're absolutely right, the falling wedge pattern often suggests a potential breakout to the upside, but it's important to be cautious. That "bleed off" to around 70k could still be part of a larger consolidation before a big move. If we break down out of the wedge, it would definitely signal more bearish market sentiment, especially considering the broader macro risks you're highlighting like geopolitical instability, health crises, and climate concerns. It's a bit of a nerve-wracking but exciting situation, especially with the unpredictable nature of markets these days. How are you thinking of positioning yourself in this scenario? Holding out for the breakout, or preparing for the downside risk as well?
Gold Shows Strong signs of Bullish Trend Continuation. Bullish Confluences Shows 1- Continuation of HH and HLs. 2- Market is testing and respected Strong Support Level of 0.236 of Fib Level The only Bearish Indicator is Divergence of 1H time Frame, which can show temporary correction till trend line support . ENTRY : If market breaks HH then it will test market TP (Green Arrows) and If market Breaks HL, then it will easily test RED Arrows (Projected short entry)
https://www.tradingview.com/x/s4DhHCIo/ In one of the previous posts, we discussed the significance of a trading journal. In the today's article, I will share with you the key elements of a trading journal of a professional trader. And first, a quick reminder that a trading journal is essential for your trading success. No matter on which level you are at the moment, you should always keep track of your results. Let's go through the list of the things that you should include in your journal. 1 - Trading Instrument The symbol where the order is executed. You need that in order to analyze the performance of trading a particular instrument. 2 - Date The date of the opening of the position. Some traders also include the exact time of the execution. 3 - Risk Percentage of the account balance at risk. Even though some traders track the lot of sizes instead, I do believe that the percentage data is more important and may give more insights. 4 - Entry Reason The set of conditions that were met to open the trade. In that section, I recommend to note as much data as possible. It will be applied in future for the identification of the weaknesses of your strategy. 5 - Risk Reward Ratio The expected returns in relation to potential risks. 6 - Results Gain or loss in percentage. And again, some traders track the pip value of the gain, however, in my view, the percentage points are more relevant for studying the statistics. Here is the example of the trade on Gold: https://www.tradingview.com/x/3PI4kbTt/ Here is how exactly you should journal the following trade: Instrumet: Gold (XAUUSD) Date: 03.07.2023 Risk: 1% Entry Reason: H&S Pattern Formation, Neckline Breakout & Retest R/R Ratio: 1.77 Results: +1.77% Of course, depending on your trading strategy and your personal goals, some other elements can be added. However, the list that I propose is the absolute minimum that you should track. ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Hello Traders, the NIFTY50 has been moving sideways for the past week. It shows a tight trading range from 22314-22676 with a spike to the upside! That show's to my view, that the move up is not over yet. Probably on lower low (above the 21694) is to be expected, but also a second leg to the upside as well is to expect. So, what's the conclusion for the coming week? Thought the low above 21694 is coming, a rebound to the upside from 23038 to 23320 is possible. The first target price would be exactly to the underside of the 0.618 Fibo from the second leg to the downside (starting from 24857.75. The range of 23785 is also a target as well! If the NIFTY50 is willing to decline directly to new lows (
Mari Analysis AB=CD pattern projection Volumes are increasing Must need to break 635
we need to wait for the end of the month. the rollback may happen earlier.
The higher-timeframe structure of PEOPLE is bearish, and it has experienced significant drops for a while. However, it is now approaching a strong support zone. We are looking for buy/long positions in the demand zone. A daily candle closing below the invalidation level will invalidate this analysis. Do not enter the position without capital management and stop setting Comment if you have any questions thank you
GOLD has seen hit the target of 3k. looking gold base on Daily and Weekly candles it is still bullish. and it is very high potential to go far. However on Friday with the high impact new of consumer sentiment and inflations expectation that suppose to be weak data for USD but gold did a strong sudden dip of about 200pips. In the smaller time frame like M30/H1 gold seems to to make a reversal with HNS is clearly visible and also the entry in 3000 was very short within minutes it exit with a strong rejections. so next week i expect to witness high volatility as last week growth of 1,250 pips exactly for the weekly candle itself from tip to tip. i am still bias to buy but we got to be prepared to sell when there' s opportunities. hence for the either directions with few key zones to trade and only please trade within the zone with confirmation. A self reminder for myself.
hello Trader what are your thoughts on eurcad. Enrty: 1.59-1.60 stop loss 1.61 take profit 1.50 Analysis: Key Resistance Zone: The red-highlighted area around 1.5800 marks a strong resistance zone where price previously faced rejection. Double-Top Formation: A potential double-top pattern is forming, indicating a bearish reversal. Bearish Projection: The blue trend lines suggest a downward move after a possible retest of the resistance area. Support Levels: The marked horizontal blue lines at 1.5581, 1.5411, 1.5269, 1.5151, and 1.4977 represent key support levels where price might react. Target Area: The projected move suggests a decline towards the 1.5151 level, with further downside potential toward 1.4977.
Pair: Bitcoin / U.S. Dollar (BTC/USD) Timeframe: 4H (BITSTAMP) ? Bearish Signal Alert! ? Bitcoin is currently trading around $83,925, and we are seeing strong resistance near the $89,000 level. Based on technical analysis, BTC is likely to face rejection and head lower toward key support levels. ? Trade Setup: ? Stop Loss: $89,000 (Above resistance zone) ? Take Profit 1: $79,500 (First support) ? Take Profit 2: $76,500 (Final target) ? Technical Outlook: Price is moving inside a strong resistance zone (red area). Expecting a breakdown if rejection occurs near $83,900-$84,000. Key support at $79,500, followed by $76,500 if momentum continues. ? Traders should watch for rejection around $84,000 before entering shorts! If BTC breaks $76,500, we could see even lower levels! ? What’s your BTC target? Drop your thoughts in the comments!