USDJPY bounced higher from a horizontal support shelf created from August - September 2024. Using Elliott Wave Theory as our guide, the model suggests a breakdown below the support shelf is looming nearby. I'm keeping an eye on 144.55. Below this mark, the risk remains high of a breakdown in a wave (iii). Even if 144.55 is hit to the upside, wave (iii) is the favored model we are following. USDJPY is dancing on top of the support shelf now. May break below and revisit the support shelf from the underside. Once the break appears, downside targets are large. 128 becomes the first target with even lower levels possible. EURUSD, GBPUSD, USDCAD, and AUDUSD appear to be reversing too. This means EURJPY, GBPJPY, CADJPY, and AUDJPY may be ready to trend lower.
After opening yesterday, it fell sharply. Although it rebounded briefly to 3387 after hitting the lowest point of 3316, it eventually fell to 3260 during the US trading session, with a cumulative decline of nearly 240 US dollars from the high point, and stabilized at the bottom in the late trading. Gold opened near 3315 this morning. Gold is in the repair and consolidation stage as a whole. The upper resistance is concentrated in the 3340-3350 area. If it can break through and stand firm at this position, it is expected to further test 3380-3390, or even stand firm above 3400 again, when the bulls may make a comeback. The lower support is at 3255-3245, which is the key defensive position of this round of market. It is recommended to do more on the callback and short on the rebound. Operation strategy 1: It is recommended to go short on the rebound of 3318-3325, stop loss 3333, and the target is 3280-3270. Operation strategy 2: It is recommended to buy on the pullback to 3260-3255, with a stop loss at 3244, and the target is 3300-3350.
After a strong bullish impulse in 1D, above more moving averages generating a crossover of them, we do nothing. We wait for the price to retrace or make a range so that time in the SQZ runs out and the averages approach the price, thus generating its bullish pattern.
Judging from the current trend of gold, it is currently in a correction of daily MACD decline, and the market is prone to large fluctuations up and down. Short-term operations are suitable, and both bulls and bears have opportunities; the upper pressures are 3337, 3356 and 3378 respectively, and the lower supports are 3293, 3282 and 3269 respectively.
The pair has given a breakout and is making a bullish rally.The movement and the buying support indicate that it is going upwards while breaking the lower highs.
The short-term 4-hour middle track 3380 has been lost and has become a key counter-pressure point. As long as it does not stand above it again, it will maintain a downward correction. After breaking 3292 below, it will be the 66-day moving average of 3260. The 1-hour K-line is under pressure, After last night's consolidation and pull-up,plus MACD has a golden cross below the zero axis. This wave of $200 rapid decline has almost corrected most of it. If it continues downward for another wave, or with the help of bottom divergence, it will slowly brew a short-term bottom; today's gold rebound focuses on the resistance below 3340, below the extreme middle track 3356, it is still bearish if it cannot withstand the pressure, and it will start to consider bottom-fishing if the strong support 3260 or 3245 is stable;
https://www.tradingview.com/x/AME2YbIZ/ ✅DXY is trading in a downtrend And the index is making a local Bullish correction so after the Resistance is hit around 100.500 We will be expecting a local Bearish correction SHORT? ✅Like and subscribe to never miss a new idea!✅ Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
XAUUSD BUY SETUP Currently $3310 Bought at $3307 (Trading plan XAUUSD down up to $3280 we will add more buy) Expecting target ($3337 0R UP ) Incase of early exist will update this anaylsis Its not a Financial Advice
GOOGL DAILY TECHNICAL ANALYSIS ? OVERALL TREND ? UPTREND — Price has rebounded off the April low with increasing bullish pressure, now holding above key short-term moving averages. A potential trend reversal is underway if momentum sustains above 155. ?RESISTANCE ZONE ? 207.05 — PIVOT HIGH | SELL STOPLOSS ? 203.76 — SELL ORDER II ? 197.10 — SELL ORDER I ?ENTRIES & TARGETS ? 193.74 — EXIT BUY & TP 4 ? 181.64 — BUY ORDER & TP 3 ? 173.79 — BUY ORDER & TP 2 ? 140.53 — BUY ORDER & TP 1 ?SUPPORT ZONES ? 150.92 — BUY ORDER 1 ? 143.85 — BUY ORDER 2 ? 207.05 — BUY STOPLOSS | PIVOT LOW ?MOVING AVERAGE SUMMARY ✅ Short-Term MAs (10–50) — Bullish crossover confirmed, supporting upside ⚠️ Mid-Term MAs (100) — Still bearish, price must sustain above 156.70 ? Long-Term MAs (200) — Bearish, still weighing on broader structure ✍️STRUCTURAL NOTES Price recently flipped bullish across 10–50 SMA/EMA clusters Volume confirming strength, but needs follow-through above 162.48 Stochastic RSI (95.93) is overheated — expect short-term pullback or consolidation MACD, Momentum, and AO all signal increasing buy-side control Ichimoku Base Line (153.25) being tested — reclaiming it is bullish confirmation TRADE OUTLOOK ? ? Bullish bias holds above 150.92 and especially above 155.63 ? Upside targets: 162.48 → 173.79 → 181.64 ? Short-term rejection possible near TP1 — RSI and StochRSI nearing exhaustion ? Watch for a decisive break above 162.48 with volume for continuation ?STRATEGY RECOMMENDATION CONSERVATIVE (Trend-Following): — Buy Entry: 155.63 — TP Levels: 162.48 / 173.79 / 181.64 — SL: Below 150.92 HIGH-RISK SCALP (Momentum Pullback): — Buy Dip: 150.92 or 143.85 — TP: 155.63 / 162.48 — SL: Below 140.35 “Discipline | Consistency | PAY-tience”
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 XAU/USD Sell. Enjoy the day all. Cheers. Jim