Short Term Elliott Wave view in Gold (XAUUSD) suggests rally from 11.14.2024 low is unfolding as a 5 waves impulse. Up from 11.14.2024 low, wave (1) ended at 2721.41 and pullback in wave (2) ended at 2583.21 as the 1 hour chart below shows. The metal has turned higher in wave (3). Up from wave (2), wave (i) ended at 2626.41 and pullback in wave (ii) ended at 2586.82. Index has resumed higher in wave (iii) towards 2633.29 and pullback in wave (iv) ended at 2608.05. Final leg wave (v) ended at 2639.14 which completed wave ((i)) in higher degree. Pullback in wave ((ii)) unfolded as a double three where wave (w) ended at 2611.28. Wave (x) rally ended at 2628.12 and wave (y) lower ended at 2595.91. This completed wave ((ii)) in higher degree. The metal has resumed higher in wave ((iii)) towards 2665.33 and pullback in wave ((iv)) ended at 2614.36. Expect the metal to finish wave ((v)) higher soon and this should complete wave 1 of (3). It should then pullback in wave 2 to correct cycle from 12.19.2024 low (2581.9) before turning higher again. Near term, as far as pivot at 2581.92 low stays intact, expect dips to find support in 3, 7, or 11 swing for more upside.
We are headed to 86k, a steep red candle or two depending on the time char. Then a brief retest. If the retest does not breach 90k, we will deep further to 74k or lowest 64k. King's ideas.
Always a purely technical approach, while trading is examined. A few factors to suggest a reversal play here, and we have a double divergence on RSX momentum, diminishing volumes on the profile, apparent Elliot flat possibly in motion and a triple drive completion in position of Wave B of the flat. Inherently, reversal plays come with a higher risk nearly always, yet can be quite profitable at times. Volatility, stochastic oscillators are suggestive on the weekly chart. We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in green or purple with invalidation in red. Confirmation level, where relevant, is a pink dotted, finite line. Fibonacci goals, it is prudent to suggest, are nothing more than merely fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe.
Link your mind to link your money. Charts posted to see what has happened!
The Cardano chart setup you and I spotted a week ago is ready to resume growing. Most likely. The falling wedge depicted on the chart represents a correction, a mild one. After the correction there was an advance and the first resistance level produced a retrace. This was a strong retrace but the action remains as a strong higher low and a bullish resumption is more likely than a bearish continuation. The reversal 20-Dec. was a very strong one, indicating that this is likely the correction bottom. The recent retrace was also a strong one but it reached nowhere near to the 20-Dec. low. Let's look at this from a different perspective. ADAUSDT is considered bullish above 0.76. If it trades above 0.83, this pair is strongly bullish and a new bullish advance can develop at any time. The action is happening above 0.83, current price is 0.91, so Cardano is bullish, technically speaking. We are bullish on Cardano and expect higher prices in the coming weeks and days. With all this said, remember that market conditions can always change. If there is break of support on the weekly timeframe, we can expect lower prices. If the support is pierced on the hourly or daily timeframe, this is no big deal as a recovery can happen the next day. The target can be seen on the chart. Sideways is also possible. Full trade-numbers below: ___ ADAUSDT (PP: 140%) ENTRY: $0.8300 - $0.9365 TP1: $1.0147 TP2: $1.1409 TP3: $1.3452 TP4: $1.4907 TP5: $1.6757 TP6: $2.2105 STOP: Close weekly below $0.8000 ___ Thank you for reading. Namaste.
Based on the H4 chart analysis, we can observe that the price is approaching our sell entry level at 194.89, which is a key overlap resistance near the 61.8% Fibonacci retracement. This level serves as a potential reversal point within the ongoing bearish trend. Our take profit is at 193.86, just above a strong support level and the recent swing low. The stop loss is set at 196.28, a pullback resistance level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com/uk): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com/eu): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com/au): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com/au Stratos Global LLC (www.fxcm.com/markets): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
ONGC is looking a good buy for today at 264 for the targets of 267 and 269 until 261 is intact on the downside. To motivate us, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India
Trying the impulse MACD with some customized settings to make it not so busy. Showing how the crossovers above and below the center range the corrections are much larger. They say when the market is ranging the MACD can give false signals. The Impulse MACD will flatline when the market is ranging telling you not to take positions. Pretty cool. Any constructive criticisms , tweaks, adjustments, funny comments appreciated
Technical Analysis Overview * Trend Analysis: * UNG is forming a potential ascending triangle pattern on the 4-hour chart, with higher lows and resistance around $17.00. * The price action suggests a bullish breakout if it sustains above $17.00. * Support and Resistance: * Support: $15.49 (key horizontal support), $14.77 (PUT support wall). * Resistance: $17.00 (near-term breakout level), $19.50 (major resistance). * MACD: * The MACD line is crossing above the signal line, confirming bullish momentum in the short term. GEX Analysis https://www.tradingview.com/x/CsB6GHQU/ * Call Resistance Levels: * $17.50 (48.19% GEX): Strong call wall, crucial for a breakout confirmation. * $19.50: Next major resistance if the price moves above $17.50. * Put Support Levels: * $14.77 (-12.76% GEX): Highest negative GEX and a solid downside cushion. * Options Activity: * IVR: 63.4, indicating relatively high implied volatility. * Calls dominate the options chain with 79.8% CALL skew, signaling strong bullish interest. Trade Setups * Bullish Scenario: * Entry: Above $17.05 with strong volume confirmation. * Target: $18.50 → $19.50. * Stop-Loss: Below $16.50. * Bearish Scenario: * Entry: Below $15.40. * Target: $14.80 → $14.00. * Stop-Loss: Above $15.75. Final Thoughts UNG appears poised for a breakout above $17.00. Traders should monitor volume closely for confirmation. While the bias is bullish, key support at $15.50 should be watched for invalidation. Disclaimer: This analysis is for educational purposes only and not financial advice. Always conduct your own research and manage your risk appropriately.
USOIL Trading Signal: BUY Entry Point: 74.11 Take Profit Targets: 1. 74.80 2. 75.50 3. 76.50 Stop Loss Point: 73.10 --- Trading Principles: 1. Continuous Learning: Regularly enhance your knowledge and refine trading strategies to adapt to shifting market dynamics. 2. Risk Management: Avoid risking more capital than you are prepared to lose. 3. Use Stop-Loss Orders: Protect your investment by setting a clear stop-loss point to limit potential losses. 4. Diversify Investments: Spread your trades across different assets to reduce overall risk. 5. Set Clear Targets: Define realistic take-profit levels before entering the trade. 6. Stay Informed: Monitor market news and economic events that might influence crude oil prices. 7. Review Performance: Analyze your trade history to identify areas for improvement and build on successful strategies. 8. Maintain Discipline: Stick to your trading plan and avoid making impulsive decisions. 9. Focus on Risk-Reward: Ensure that potential rewards outweigh the risks for every trade. 10. Exercise Patience: Allow your strategy to play out without emotional interference, maintaining a long-term perspective. Trading involves risks. Always make decisions based on careful analysis and sound judgment.