Gold seems to be imprisoned in a 🚩Symmetrical Triangle🚩. To confirm the end of wave 4, gold needs to break the upper line of the symmetrical triangle. I tried to show you the end of wave 5(zones) on the chart: 🟡 First Target : $2042-$2026🎯 🟡 Second Target : $2068-$2057🎯 Gold Analyze ( XAUUSD ), 1-hour Time frame ⏰. Do not forget to put Stop loss for your...
CL_F (Crude Oil) favors higher in 5 wave Impulse Elliott Wave sequence as wave 1 before pullback starts. It placed (B) at $64.12 low on 3/20/2023. Above (B) low, it placed ((i)) at $71.67 high & ((ii)) at $66.82 low. ((ii)) was 0.618 Fibonacci retracement of ((i)). It favored ended ((iii)) at $81.81 high on 4/04/2023 high as extended ((iii)). Within ((iii)), it...
Technical Confluences 1. Silver is currently near last year's high 2. Near-term resistance at 25.31550 3. Near-term Support at 24.29100 4. High-up resistance at 28.13740 Idea We are looking for price to continue heading towards the near-term resistance at 25.31550. There might be some struggle to break through the resistance so we are expecting a possible...
Gold is back at the key level of 2000 the round number major resistance, which now aligns with the 38.20% fib retracement level. Anticipating further weakness in the DXY, this could see Gold climb higher, breaking above the resistance level, and continuing with the overall uptrend. A break of the resistance could see the price climb to retest the previous high of 2031.60
The S&P500 index is moving near the resistance line and 🔴resistance zone($ 4,200- $ 4,100)🔴. The S&P500 index also seems to be forming the right shoulder of the Head and Shoulders pattern in the 🟡Time Reversal Zone(TRZ)🟡. I expect the S&P500 index to drop to the 🟢support zone($ 3,590-$ 3,490)🟢 after breaking the neckline. S&P500 Index (SPXUSD) Analyze Daily...
Natural gas has crashed when comparing it to the DBC commodity ETF. If a recession takes hold, demand destruction always prevails and it looks like Nat gas is pricing this in. This price action could be a leading indicator that many other commodities may be vulnerable to a pullback. Since Natural Gas is one of the smaller components of this ETF, it can see a...
Gold confirmed the end of wave 4 after breaking the upper line of the symmetric triangle. The corrective structure of wave 4 is Double Three Correction(WXY). Gold is completing microwave 3 of the main wave 5, and most likely the end of this wave is in the Price Reversal Zone (PRZ). I tried to show you the end of wave 5(zones) on the chart: 🟡 Target :...
Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. Here is a detailed update top-down analysis for XAUUSD. Which scenario do you think is more likely to happen? and Why? Always follow your trading plan regarding entry, risk management, and trade management. Good Luck!. All Strategies Are Good; If Managed Properly! ~Rich
Silver (XAGUSD) broke above the previous peak on 2.2.2023 high ($24.62). As a result, it now shows a bullish sequence from 9.1.2022 low favoring further upside. A 100% – 161.8% Fibonacci extension from 9.1.2022 low targets 26.91 – 31.23. Near term, cycle from 3.10.2023 low is in progress as a 5-waves nesting impulse Elliott Wave structure. Up from 3.10.2023 low,...
Hello traders, in today's trading session my team and I are monitoring XAUUSD for a tradable opportunity, once we get a tradable setup then we set a pending order. Pip Regards, DayBot6. What do you think of this idea?
Gold traded with choppy price action on Friday as it reach the 1985 price level but failed to sustain a continual move to the upside. With the price breaking the short term bullish trendline, and currently trading at the 1952 level, Gold could continue trading lower to retest the near term support level of 1936, especially if the DXY continues to regain in...
Fundamental Backdrop 1. Saudi Arabia and other OPEC+ oil producers on Sunday announced further oil output cuts of around 1.16 million barrels per day 2. This can cause a bullish run in prices in the long run. Technical Confluences 1. Price near 81.7 resistance 2. Price shot through the support at 72.50 with strong bullish momentum, causing a market gap Idea...
30th March DXY consolidating along 102.60, break to the 102 support level NZDUSD: buy 0.6250 SL 20 TP 40 AUDUSD: buy 0.6720 SL 20 TP 40 USDJPY: wait for retrace, buy 132 or 131.80 to 133 TP 100 SL 30 GBPUSD: no trade, look for price to test 1.24 EURUSD: buy 1.0870 SL 20 TP 50 USDCHF: sell down 0.9160 SL 20 TP 55 (hesitation at 0.9140) USDCAD: further...
Similar to the DXY, Gold has been trading with no clear directional bias with the price fluctuating along the 1965 price level Anticipating further downside on the DXY and as Gold maintains supported by the upward trendline, look out for a possible breakout to the upside. A confirmation of the move to the upside would be signaled if the price breaks above 1980,...
Gold continues to trade with no clear directional bias as the 1970 resistance level continues to limit significant upward moves. As the DXY consolidates between 102 and 102.50, Gold is likely to maintain within the current range of 1936 and 1970. Although the longer term view of the US Dollar is for further weakness, the current retracement on the DXY is...
Previously, it was observed and expected that Crude was to bounce. Instead, Crude made a dive down and out of the boxed range. For a moment, took a second take on the analysis and decided that it might have been a bit before its time, since the longer term pointed to two trends; crude to go up and USD to go down. So, a chance came when USO triggered twice in the...
The double top chart pattern discussed yesterday on the H4 and H1 timeframe worked out nicely as Gold broke below 1970 to trade down, pausing at the 1945 price level. Although the price retraced slightly higher, Gold is likely to continue trading within the wide range of 1936 and 2000 (1970 the mid way mark), with the key resistance level proving very hard to...
Hello, sorry I didn't make it to the live stream today, but I will quickly go over what I see for the week ahead. Hopefully I will make it for the Wednesday Live Stream Market Updates. Thank you