The DXY has broken its bullish trendline and a key support area. It is now approaching the next support level on the daily timeframe. Similarly, EUR/USD has broken out above its falling wedge pattern, signaling a bullish move for the euro. Consider buying EUR/USD and riding the trend until it reaches the resistance level.
COINBASE:ETHUSD Ethereum is severely compressed and could rebound like a spring once it breaks its Falling wedge.✌️ ⚠️ Disclaimer: This is not financial advice. Always manage your risks and trade responsibly. ? Follow me for daily updates, ? Comment and like to share your thoughts, ? And check the link in my bio for even more resources! Let’s navigate the markets together—join the journey today! ?✨
? Strong Bullish Sentiment: The analysis indicates that gold is in a bullish phase, with the potential of reaching new highs. The mention of a high around 2791 suggests confidence in continued upward movement, which can be attractive for traders looking to capitalize on price increases. This sentiment is essential for traders to understand, as it shapes their trading strategies and risk management. ? Avoiding Shorts: The speaker strongly advises against taking short positions on gold, citing the trend as a crucial factor in trading decisions. This insight is vital for traders who might be tempted to go against the prevailing market sentiment, as it may lead to significant losses. The mention of “burning accounts” highlights the dangers of trading against the trend. ? Monitoring Retracement Levels: A key level of 2756 is specified as an important zone for potential buy trades. This insight emphasizes the importance of strategic entry points in trading, where traders can capitalize on price drops while maintaining a bullish outlook. Understanding these levels can enhance traders’ decision-making processes and improve their entry strategies. ? Fundamental Drivers of Gold Prices: The speaker links the recent bullish movement in gold to the anticipation of Federal Reserve rate cuts and geopolitical tensions, particularly the trade war with China. This connection between economic indicators and market movement is crucial for traders to grasp, as it helps them anticipate potential price shifts based on external factors. ? Comprehensive Technical Analysis: The video provides a thorough technical analysis across various timeframes, reinforcing the bullish outlook on gold. This multi-timeframe approach is beneficial for traders, as it allows them to gain a comprehensive understanding of market conditions and refine their strategies accordingly. ? Beware of Market Manipulation: The speaker warns about the potential for market manipulation, especially during significant news events. This insight serves as a reminder for traders to remain vigilant and avoid making hasty decisions based on short-term market movements, which can often be misleading. ? Understanding Market Behavior: The speaker’s emphasis on the non-linear nature of market movements suggests that traders should be prepared for retracements and fluctuations. Recognizing this behavior can help traders manage their expectations and make more informed decisions when planning trades. Overall, the video offers valuable insights into gold trading, emphasizing the significance of understanding market trends, technical levels, and external factors that influence price movements. By focusing on a bullish strategy while remaining cautious of potential market manipulations, traders can better position themselves for success in the dynamic world of forex trading.
After the DXY broke up in october, and markets have been bleeding for almost two months (expect from the election hype in november) the DXY just hit the 702 retracemnt and turned around. Expect it to re visit the lows. IF markets are booming under this retracemnt i expect the dxy lows to hold, and reverse to the up side when markets collapse on them selfs.
This month it is extremely difficult to predict the movement of gold, because there are too strong processes in the world, which no one expects. But I will always try and will not give up drawing waves, because it brings profit and valuable experience. In this case, I see a continuation of the upward movement to the area of 161.8% Fibonacci extension level. This is the area of 2797.968. Of course, I would like the price to first descend on the correction in wave “2” and reach the support area 2724, after which limit pending orders will be activated. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Makes HH and HL breakout of Lh and LL pair break last LH and makes new HH and HL in a sequence
Ecpect total market cap to increase from here, fibonacci will be my targets.
The xrp btc charts are telling me that the xrp is not over, i will take most of my profit at the 702 retrsacemnt. XRP price towards dollar will be between 9-11 dollars if btc not increases to mcuh from here.
We’re currently sitting at a very important level and if they continue closing below, we could expect a sell. Use proper risk management if you wish to take this trade. Targeting the next level beneath
FX:EURJPY market has broken through the resistance zone and is now moving toward the main resistance level. Overall, the market is currently in a range zone on the daily timeframe, with the price updating its swing highs at resistance and forming a distinct range. The market recently bounced off the support level and the trendline that had kept the price below for the week. I anticipate a price expansion from the support level, followed by a retest of the key resistance zone. My goal is resistance zone around 164.000 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad ??