Here on Gbpusd price has made a support around demand zone and is likely to move up more so trader should go for long and expect profit target of 1.23353 and 1.20888 . Use money management
Google is moving strangely but nevertheless currently moving up a parallel channel, using the anchored volume profile tool we have the VAL at 189.27 and the VAH at 196.55 and the POC at 193.47, we can consider those key levels, and a positive entry when we get price action above the short term trend line, the price is currently resting on the 200 EMA and the VAL and the bottom of the upward parallel channel, watch out for fake outs and for bearish break out of the parallel structure.
Good Evening and I hope you are well. comment: Market is in balance around 94k. Bulls want to test the bear trend line and bears want to get below 94000 to test 90000 again. Market is contracting so don’t make this more complicated as it years. Trade near the extremes and not too much in the middle. current market cycle: trading range key levels: 90000 - 101000 bull case: Bulls had their second leg up but it was weak and market then went sideways below 97k. They need a break above 97400 for more upside and their next obvious target is the big bear trend line, which probably not many expect to be broken on the next hit. They are still trading above the 1h ema, so they are in control and favored for more upside until we trade below it again. Invalidation is below 89000. bear case: Bears need to close a 1h bar below the ema to turn the market neutral again. If they can make 98000 resistance, it would show strength and I don’t think many bulls will hold on to longs if we can’t make it to 100k tomorrow/Thursday. Otherwise bears do not have much on the higher time frames since Monday was so bullish. I expect more bears to come around closer to 100k. Always ask yourself if you had to have a position right now, which side would it be and where would your stop be? Being a bear here is hard because your stop would have to be 103k and that’s 6k points. 1:1 r:r would need to hit 91k. Really not an ideal trade. Invalidation is above 101000. short term: Neutral 94k - 98k. Bulls are in control as long as we are above 94000. We are in an expanding triangle inside a bigger contracting triangle. Market is in breakout mode and we will probably see a breakout later this week or next. medium-long term: 75000 is my biggest target for now and until bears get there, any lower target is just unreasonable. My bias is bearish going into 2025 and I think the odds of a bigger leg down are good. current swing trade: Want to see market closer to the big bear trend line and then more selling pressure before new shorts. trade of the day: Long since EU open was decent or any short near 9700 since market found no buyers above it. The long on EU open was because of strong momentum and a second leg up was expected after Yesterday’s very bullish price action. The 1h 20ema has not been touched at that point, which added to the strength of the bulls.
QUBT stock is nearing the end of a clear zigzag correction. A bullish rebound is expected soon as bearish momentum weakens. ⚠️ Disclaimer: This analysis is not investment advice. Conduct your own research before trading.
Good Evening and I hope you are well. comment: Neutral. Strong by the bulls to keep the Globex gap open to 20326 but they failed at finding acceptance above 20420. We continue sideways until one side clearly gives up. We are still close to the middle of the bigger triangle so shorts need a stop 20622 and that’s far away. I still slightly favor the bears to rather trade back down to 20200ish than above 20500. current market cycle: trading range key levels: 20200 - 20500 bull case: Bulls want to stay above 20300 and continue upwards to test 20500. They are in control as long as the Globex gap stays open. Bulls are also above most important 20ema and that means they are in control of the market. Their issue is, that they can’t find more buyers above 20400 and all daily bars since last week have decent tails above them. Bulls will only try so many times before more give up and want to short lower again. Invalidation is below 20300. bear case: Bears have a decent head & shoulders pattern that could break down over the next days. The measured move target is around 20150 which was Monday’s low. First target for them would be to close the gap to 20320 and close a 1h bar there. Bulls have bought every touch of the 1h 20ema and until that changes, we continue sideways to up. Problem for the bears is, that we could go up to 20500 or even 20550 to hit the bigger bear trend line. That stop is far away and likely a reason why bears scalp out near support. Invalidation is above 20500. short term: Neutral 20300 - 20400. Bears need a strong move below 20320 and bulls need to find acceptance above 20420. medium-long term from 2024-12-22: Any short near 20000 is reasonable if you can hold for another 1000 points higher. 17000 is much more likely than 21000 though. My first target for the next months is 19000, followed by 17700ish and ultimately down to 16000-16300 in 2025. current swing trade: Scaling in and out of shorts. In above 20450 and out where market shows support (currently 20350). trade of the day: Buying close to the Globex gap was good for many longs. Also selling close to 20500 was a no-brainer since market went mostly sideways before and we had huge prior resistance 20500 and above.
GOLD Will be bullish until it hits the supply zone. MCX:GOLD1!
#SEI has swept PML $0.3713 and PWL $0.3664 and broken the Diagonal Trendline. ? Strategy: Wait for a retracement to tap the 4H FVG before considering a long position. ? Key Levels: Resistance: PWH $0.4788
Gold's price action on the 2-hour time frame is quite interesting, with the precious metal respecting the resistance line twice and the support line three times. Currently, gold is trending towards the resistance line, and the upcoming CPI release is expected to push gold up to 2710 However, be cautious, as a "big waterfall" might be looming thereafter. This potential downturn could be attributed to various factors, including changes in market sentiment, interest rate decisions, or geopolitical events. From a technical standpoint, gold's daily chart shows sellers gaining confidence, but a steeper decline is not yet evident. The pair remains above all its moving averages, with a mildly bearish 20 Simple Moving Average (SMA) converging with a bullish 100 SMA at around 2635. In terms of news impact, the recent Nonfarm Payrolls report showed the US adding 256,000 new jobs in December, with the Unemployment Rate edging lower to 4.1%. This data might influence the Federal Reserve's interest rate decisions, which in turn could impact gold prices. Keep a close eye on the CPI release and its potential effects on gold prices. Also, monitor the overall market sentiment, as it can quickly shift and impact gold's price action. Key Levels to Watch: Resistance: 2710 Support: 2660,2645,2635
its not 100% accurate but its give an idea how it will move next target to buy is 0.9683
The double bottom shows a bullish reversal pattern. This suggests that the price may continue to rise If the price fails to break this resistance, it could result in a pullback.