Technical analysis of USOIL (CL1!). Bullish (green) and bearish (red) counts for USOIL. Price likely to rise towards resistance at 94.99, with median line of pitchfork as target. Bulls see EW count in a wave 3, with price to challenge 2022 highs and keep 94.99 as support once it breaks as resistance. Bears see a wave c in progress, to complete a zigzag X in the 96.5-105 area, then roll back down with a Y below 63.61.
The pattern seems to be filling out all leading to decision points between the inauguration on Jan 20th through the end of the month. Time will tell, watch for fakeouts.
Gold holds strong support at 2600 levels. Breakout above 2800 attract more buyers. break above 2750 levels -Eyeing to 3000 levels... Buy the Dip. #Strong BUY
So after breaking a bullflag pattern and hitting 2 take profits I am looking for another Long-term entry before BINANCE:CRVUSDT goes to the moon. What I like to see is hitting 0.70 area and hold above it. 0.70 is minor support which is active in 1D timeframe. I would love to see hit 0.50 area too. Either way I will enter long position.
Bullish signal- Buy the dip opportunity. 29.10$ level acts as a strong support - 200 ma Gained momentum for further gains. BUY!
The USD/JPY pair has been following a clear market cycle, transitioning from distribution to markdown , followed by accumulation , and now entering a bullish markup phase , showcasing strong bullish momentum. Key Observations: Market Phases: Distribution Phase: The bullish move ended near the 162 level , where sellers gained control, initiating a markdown. Accumulation Phase: After a significant markdown, UJ found a base around the 140 level, forming an accumulation phase with demand coming back into the market. Current Phase: The pair has now broken out of accumulation and is in a bullish move, with a well-defined structure of higher highs and higher lows. EMA Surfing and Momentum: The price is currently surfing upward along the EMAs , showing strong trend-following behavior with EMAs acting as dynamic support. The tightening of the EMAs during the accumulation phase has now expanded , supporting the continuation of the bullish move. Scenarios to Watch: Continuation to Targets: USD/JPY could continue its bullish momentum toward the short-term target near 159 and potentially the medium-term target around 162. This aligns with the ongoing strength in the USD and the current bullish structure . Pullback for Reaccumulation: A potential retracement could act as a reaccumulation phase, gathering liquidity before resuming the uptrend.
Hello traders Best wishes for a prosperous and low stress 2025. I purposely waited for the recent USD NFP print to enter into any meaningful trade. The USD/JPY reaction is what I was looking for. It is turning up and this rising tide has lifted all the major JPY cross boats. I have initiated a long AUD/JPY position at 96.962. FUNDAMENTAL REASONS: BoJ Governor Ueda has left the door open to a rate hike on the Jan 24th BUT left an escape route by referencing the need to evaluate data. FOMC Chair Powell has taught him well :) Keep an eye on Deputy Governor Himino's speech and especially press conference on 1/14/2025. The RBA statement in December unexpectedly took on a dovish tone which expedited the expected but not confirmed rate cut from March to February 2025. ECONOMIC calendar JPY: 1/23/25 National Core CPI 1/23-24/2025 BoJ rate decision ECONOMIC calendar AUD: 1/15/2025 Employment change. And this is the "kicker". Australian employment change expectations in general can be significantly off mark. If it comes in strong, the RBA may reconsider the need to cut rates. Same for CPI and PPI. 1/28/2025: CPI 1/30/2025: PPI 2/18/2025: RBA Rate decision TECHNICAL analysis: AUD/JPY shows three consecutive higher weekly closes. And closed on the 100 week MA the 4 hour chart shows the retest of the weekly 96.82 breakout level higher. INDICATORS: RSI, UO and ADX are all turning up. The pair is also in an ascending channel. My favorite part of this trade is that the downside should not be a significant hit if the stop is just below 96.82. However, do you own research. As always, I invite feedback. Best of luck.
As we have mentioned in our weekly detailed video,Gold is on Rising wedge channel ,last Friday On NFP numbers market respect the 2665 support area and rejected back immediately which have strong signs that market is on 2720 mark! What possible scenario do we have? The weekly closing was above 2680 R&S area and its the red line we have,any H4 Candle closes below it, bullish move will be invalid for while and market will be back to 2650-2680 zone. On the other hand , im expecting market will on bulls side this week technically towards 2720 after the on strong rejection from the previous support of 2664. Where the Rising channel can do a drop? As we have history market is moving up however its respecting the previous Resistance.
Good morning fellow traders. On my Daily Forex charts using the High Probability & Divergence trading methods from my books, I have identified 4x new trade setups this morning. As usual, you can read my notes on the charts for my thoughts on these setups. The trades being a AUD/USD Sell, EUR/USD Sell, GBP/USD Sell & NZD/USD Sell. I also discuss some trade management. Enjoy the day all. Cheers. Jim
#ES! short term bearish sign. #Buy the dip. Retest of the support levels to attract more buyers and turn into Bullish trend. Watch the key levels- support 5740 , sink below this levels may push 5640 level gap up Retest 200 ma trendline support possible to fill the gap up area