Gold has formed the shark pattern at 2935. Now we head north, onwards and upwards to 3040. Rapid rise coming.... All the best.
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Auch nach zwanzig Jahren machen diese beiden Abenteuerfilme, die kabel eins heute zeigt, noch richtig Spaß. Wir brauchen unbedingt eine Fortsetzung.
In a comment to Kitco News, Chris Mancini - Portfolio Manager of Gabelli Gold Fund (GOLDX) - said that Western investors are pouring into gold ETFs to hedge against economic or inflation risks due to the impact of tariffs. He also emphasized that investment demand still has room to continue to increase. "Gold is acting as a hedge against the devaluation of the USD and other currencies," he said. “Tariff measures could accelerate this process as global commodity prices rise. In addition, if global central banks (including the US Federal Reserve - FED) reduce interest rates or pump money to combat economic weakness, prices will tend to increase, making gold more attractive to investors. "The buyers still show no signs of slowing down and this week continues to be a strong candle on the weekly chart. I think there is a high possibility that gold will reach the 3,000 USD/ounce mark in the near future, but there can also be big fluctuations around that level."
Hello fellow traders! Dive in to explore our quick take on GBP/USD’s Elliott Wave action—happy trading! Wave 1 & Wave 2 The initial leg up (Wave 1) established the start of an impulse. Wave 2 appears to have formed a flat correction—a relatively sideways pattern characterized by three sub-waves (A-B-C), where Wave B can sometimes move slightly beyond the start of Wave A. The flat structure in Wave 2 set the stage for a strong Wave 3 advance. Wave 3 Typically the most powerful and extended wave in an impulse, Wave 3 pushed prices higher in a clear, sustained trend. Fibonacci extensions often confirm Wave 3’s prominence, with price sometimes reaching 161.8% or more of Wave 1. Wave 4 Following Wave 3, a corrective Wave 4 is unfolding. Because Wave 2 was a flat, the principle of alternation suggests Wave 4 could take a different shape, such as a zigzag (A-B-C) or a triangle. Currently, the structure hints at a zigzag (a more vertical three-wave pattern), but there’s also a possibility of a triangle if price consolidates in converging trendlines. Wave 4 triangles are fairly common, especially when they alternate with a flat in Wave 2. Potential Outcomes for Wave 4 Zigzag Completion: If the corrective phase remains a zigzag, we’d look for a clearer three-wave structure (A-B-C) to complete near typical retracement levels (e.g., 38.2% or 23.6% of Wave 3). Triangle Formation: If the market continues to range and create overlapping waves, watch for lower highs and higher lows converging into a triangle. This pattern could prolong Wave 4’s duration before the final Wave 5 upswing begins. Wave 5 Outlook After Wave 4 concludes, look for Wave 5 to emerge. Targets often use Fibonacci projections—e.g., measuring Wave 5 against the length of Wave 1 or against the net distance of Waves 1+3. A common extension is the 61.8% or 100% projection of (Wave 1 + Wave 3), which can help identify potential price levels for Wave 5’s completion. Key Takeaways The broader picture shows an impulsive five-wave move in progress. Wave 2 being flat suggests Wave 4 is likely to be a different pattern (zigzag or triangle), aligning with the principle of alternation. If Wave 4 forms a triangle, it may extend the corrective phase, but the ensuing Wave 5 rally often emerges strongly once the triangle completes. Monitoring Fibonacci retracements and extensions will be crucial to pinpoint likely support for Wave 4 and resistance targets for Wave 5. As always, monitor price action and confirm the wave structure with technical indicators or additional confluence before taking a trading position.
BTC dips below 91K – expected move within my framework This was a logical step in my theory. What’s 100% certain for me is that today and this week will be absolutely crucial. If BTC has gathered enough strength here to push above 100K, we’re in the game. Here’s what I wrote on Discord about 10 days ago ?? "BTC can only build momentum from lower levels. If it drops to 95K, it can bounce to 97K. If it hits 94K, it can reclaim 98K. And if it goes as low as 91K, I’d expect a strong enough push to send it flying anywhere." I know this sounds rough, but it’s all part of the game. If you check the "from->to" moves, it’s clear on the chart where the bounces happened. The chart illustrates it: green arrows mark the accumulation zones, red arrows show how high BTC managed to go, and the dotted red line represents the key 100K level. ? Will we take off, or is this just another falling leaf?
The market bias is showing signs of a correction and a downtrend. On the lower time frame (15-minute), we have identified a Point of Interest (POI) within the Discount Area, which coincides with a PD array also located in the Discount Zone. This provides an additional confirmation for the anticipated high. The optimal entry point is located at the middle part of the POI, with the stop-loss positioned just below the POI. The target is set above the Fair Value Gap (FVG) area, providing a structured risk-to-reward setup.
GBP/JPY (British Pound / Japanese Yen) on the 45-minute timeframe. Chart Analysis: • Trading Plan: The chart highlights an “ENTRY ZONE”, indicating a potential buying area. • Potential Movement: The green triangle suggests that the price might move upwards toward 190.372 or 190.889. • Rejection Points: Certain areas where price faced selling pressure (marked with green circles) indicate previous resistance levels. • Support Level: The zone between 188.772 - 188.950 acts as support, where the price might bounce back up. This chart seems to follow a breakout or bounce trading strategy, where buying is expected in the “ENTRY ZONE” with targets around 190+ levels.
Gold technical analysis and fundamental analysis next move possible target 2955 Not financial advise trade and manage your own risk
Possible retracement to FVG H1 - same level as Fibo 0.382. Want to continue further down to next liquidity. Waiting for confirmation. However, proceed with care, as RSI already long oversold.