From a technical point of view, XAU/USD remains confined to familiar levels, still struggling to find a directional way. In the daily chart, the pair struggles around a mildly bearish 20 Simple Moving Average (SMA) while the 100 and 200 SMAs maintain their bullish slopes well below the current level. Technical indicators, however, have turned flat at around their midlines, in line with the absence of a clear trend Gold now sell 2640 Support 2615 Support 2605
The current price action on XAUUSD suggests that the retracement phase may still be ongoing. Based on Elliott Wave theory, the structure appears to be forming a Zigzag (ZZ) Corrective Wave, a common corrective pattern in the market. Here's a detailed breakdown of the analysis: Wave A and Wave B: Wave A has completed, and Wave B appears to have retraced within the expected range, respecting Fibonacci retracement levels. Wave C Projection: If this structure is indeed a Zigzag (ZZ), Wave C could extend to 100% of Wave A, which places the target at 2675. This target aligns closely with the 61.8% Fibonacci retracement level of the prior swing low, a significant confluence zone often observed in corrective waves. Key Levels to Watch: Resistance at the 2675 level, which also aligns with the 100% extension of Wave A. Support levels around the 38.2% and 23.6% retracements, which could act as interim pullback zones. Market Implications: If the price reaches the 2675 level, it could signal the completion of the corrective pattern, paving the way for the next impulsive move. However, if the price fails to reach this target, it may indicate an alternative wave count or a shallower correction. Strategy Considerations: Monitor price action near the 2675 level for potential reversal signals. Use Fibonacci retracements and extensions to refine entry and exit points. Always manage risk with appropriate stop-loss levels and position sizing. This is a great opportunity to see Elliott Wave theory in action. Let’s observe how the price unfolds and whether it adheres to the projected pattern. As always, trade cautiously and stay disciplined! #XAUUSD #ElliottWave #ZigzagWave #TradingView #FibonacciAnalysis
One more move below $95000 is all #btc needs b4 the rally above $100,000
Following Christmas & LUCE has been consolidating for a couple of days, it seems that LUCE has a huge opportunity to rally. What do you guys think?
Disclaimer This is not investing recomendation. This is my public Notebook
Shipping stocks globally have been getting roughed up a lot lately and XETR:HLAG is holding up better than many right now. While it's been in a general uptrend over the last 12 months, it’s the trading stats on it that sucked me in today. This one would have generated 27 buy signals over those 12 months, and all 27 would have closed profitably. A full 67% of those trades would have closed profitably in 1 trading day and only two would have taken more than 4 trading days to close. That's an average trade length of 2.3 days. That's pretty extraordinary for an entire year of trades. What is MOST extraordinary is the profitability of those trades. Now the stock has gained about 35% in the past year, so bear that in mind. But the AVERAGE gain on the 27 trades that took around 2.3 days to complete is 2.85%. That's 1.24% a day, or about 40x the average daily gain of the DAX 40 over the last 50 years and almost 30x the average daily return of the S&P 500 here in the US. And lest you assume that it's the result of one big trade, the largest single gain was 12% (in 9 days) but 15 of the 27 trades gained more than 2% and 7 of them were over 4%. These are absolutely stunning results for trades this short. So I realize I should have made this call right when the German market closed yesterday, but I originally wasn't going to do a foreign stock today. I just started poking around about 2 hours ago and this came on my radar screen and it took me a while to crunch the numbers. So I'll pretend I took the trade at the German market's close on Monday. If you REALLY want me to be honest, I can say I'd enter in the upcoming session if the price reaches 151.2 or less, but then if it doesn't I won't get to play out this trade for all of you. So I'm going to cheat just a little and assume I got in at the close, but I think there's a good chance it touches that level in the upcoming session anyway. Per my usual strategy, once I'm in I'll add at the close on any day it is still signaling "buy" and I will use FPC (first profitable close) to exit any lot on the day it closes at any profit. As always - this is intended as "edutainment" and my perspective on what I am or would be doing, not a recommendation for you to buy or sell. Act accordingly and invest at your own risk. DYOR and only make investments that make good financial sense for you in your current situation.
We have small scope action-reaction line set, and we are above important line. So we have a low risk entry with RR = 1:4
Oil prices dropped for two consecutive days due to a strengthening dollar despite positive manufacturing data from China. The November Caixin manufacturing PMI in China hit 51.5, surpassing the expected 50.5 and marking the highest level since last June. Attention now turns to the OPEC+ meeting on the 5th, where the group will discuss whether to extend crude oil production increases. Originally, OPEC+ planned to raise production by 180,000 barrels per day starting in January, but concerns about oversupply may delay this decision. After briefly testing the support at 67.60, USOIL rebounded slightly. The price stays within the descending channel, and the gap between both EMAs has widened further, indicating bearish momentum. If USOIL breaks below the channel's lower bound and 67.60, the price may fall further to 64.80. Conversely, if USOIL breaches above both EMAs and the channel’s upper bound, the price could gain upward momentum to 70.00.
Good morning fellow traders. On my Daily Forex charts using the High Probability & Divergence trading methods from my books, I have identified a new trade setup this morning. As usual, you can read my notes on the chart for my thoughts on this setup. The trade being a GBP/CHF Buy. Enjoy the day all. Cheers. Jim
I am an amateur trader. I sometimes enter into trades. Other times it is only an analysis. Trade with your own risk awareness. 69%