Dow Jones Industrial Average - Buy Setup Technical: U.S. markets have struggled recently due to uncertainty over tariffs imposed by President Trump. While the S&P 500 and NASDAQ have broken key support levels, the Dow remains resilient, holding the critical 41,648 support. A break below would confirm a large double-top pattern, signaling a bearish outlook. This is a pivotal moment. The rebound from overnight lows is encouraging, but with the U.S. CPI release tomorrow, caution is warranted. While speculative, COT and seasonal data favour a short-term move higher. Fundamental: The latest Commitment of Traders (COT) Report shows increasing long interest in the Dow, suggesting "smart money" accumulation. Seasonal: Historically, from March 12 – May 2, the Dow has posted gains 84% of the time, averaging +3.68% over the past 25 years. Setup: Entry: 41,800 – 42,000 Stop Loss: 41,285 (below the Nov 2024 low at 41,648) Target: 44,290 Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
SOL: The price is deep in the blue standard fibonacci extension support zone, which is located between $132.13 and $102.97. This zone is calculated based on the length of yellow wave A, and it provides standard support levels to watch for yellow wave C. Can I promise that it will hold? No, but if f this is indeed a C-wave to the downside then the bulls should show up in this region. From here I am watching two possible pathways: the yellow scenario allows for one more high with a target of around $360 to complete a larger 5-wave pattern, which started in 2022. However, in the white scenario, a 5-wave move to the upside can already be considered complete. We will therefore have to pay close attention to the structure of the next move to the upside and how the price reacts to the $181 - $263 fibonacci zone. This will help us distinguish between the two scenarios. However, even in case the white scenario plays out, a B-wave should take the price to the resistance zone. That being said, no local low is confirmed yet.
US500 May Continue the Decline to 5200 The US500 index has reached the targets we set in our last analysis. However, the market remains highly volatile, with future movements shrouded in uncertainty. This instability can largely be attributed to President Trump's policies, which have introduced a significant level of unpredictability. According to the New York Times, economic fears have sent world markets into a dive. Stock markets around the globe plummeted yesterday after President Trump refused to rule out the possibility that his trade policies might trigger a recession. Additionally, several retaliatory tariffs against the United States have come into effect. You may Watch the analysis for more details! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
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OANDA:EURCAD is approaching a significant resistance zone, marked by prior price rejections and strong selling pressure. This area has historically acted as a key supply zone, indicating the potential for a pullback if sellers step in and regain control. If the price rejects this resistance, we could see a pullback toward 1.55000, aligning with a corrective move after the recent bullish rally. However, a clean breakout above this resistance zone would invalidate the bearish bias and could lead to further upside toward higher levels. Traders should monitor for bearish confirmation signals, such as rejection wicks, bearish engulfing candles, or increasing selling volume, before considering short positions. If you agree with this analysis or have additional insights, feel free to share your thoughts in the comments! ?
Given the completion of the double bottom, reaching resistance, and the arrival of the correction time, I expect a correction of up to 50%.
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FX:XAUUSD is forming the maneuver we need regarding the previously mentioned consolidation. False break of support on the background of the rising market, we discussed it with you yesterday. The reaction is the formation of a reversal set-up and bullish momentum https://www.tradingview.com/chart/XAUUSD/DAlSgDv8-GOLD-Strong-consolidation-What-could-happen/ This week the markets are awaiting the JOLTS jobs report (today) and CPI data (Wednesday), which could provide fresh impetus to prices. Additional pressure comes from expectations of US-Ukraine peace talks, a possible mineral agreement and ongoing trade tensions related to Trump's protectionism. However, a weaker dollar and lower bond yields are supporting gold, limiting its losses Gold may test yesterday's high and after a slight pullback continue to rise with a target of retesting the 2926 consolidation resistance. The market structure is bullish at the moment and it plays to our advantage.... Resistance levels: 2918, 2926, 2942 Support levels: 2905, 2893.5, 2880 At the moment the price is still in consolidation, but the price is forming a bullish rally due to the collected liquidity in the Asian session. The local pattern “double bottom” is formed (false breakdown of support) and the next target is the resistance of consolidation 2926. Also focus on 2918 - possible retest and pullback to 0.5 fibo before the price will storm 2926. Regards R. Linda!
The price fell yesterday, as we mentioned in my previous idea, and then today, the gold rose on a weak dollar and safe-haven demand as investors awaited inflation data to assess the Federal Reserve’s policy path amid fears of simmering trade tensions and slowing economic growth following U.S. President Donald Trump’s tariffs. As long as the price trades below 2,914, it is expected to fall towards 2,903. If it breaks below this level, the price will likely decline further to touch 2,893, and below that, 2,880. The uptrend will become active when the price stabilizes above 2,925, confirmed by a 4-hour or daily candle close, indicating a bullish trend. Bearish target: 2903, 2893, 2880. Bullish target: 2914, 2925, 2936.
OANDA:XAUUSD market tested the 2880 level as I anticipated yesterday. It formed a false breakout from the consolidation zone and moved higher, breaking above the 2900 level and by taking liquidity from below the range zone. Currently, the price is testing the midpoint of the consolidation zone, which typically acts as both support and resistance. Therefore, there is a possibility that the price may roll back, especially if upcoming news proves to be negative for the market. However, this seems unlikely given the current bullish momentum. Since the price has tested the zone below the consolidation zone, I expect it to aim for the zone above the consolidation zone and previous week high. My goal is resistance zone around 2935 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad ??