New support 24278 strong New ragistanc 24460 2nd ragistanc 24670 3rd ragistanc 24960
? Technical Highlights: Price respecting bullish market structure (HH – HL) Strong rejection candle from dynamic support (EMA 50) RSI recovery from oversold zone with bullish divergence potential Target zones: ? TP1: 3405 ? TP2: 3471 ? TP3: 3499 SL placed below recent HL (around 3279) for risk management ? Bias: Bullish ? Strategy: Buy the dip / trend continuation
First target at 2.880. Headwinds in my main focus are chinas restart. Alot of rumor priced in but facts will send it lower. Sunshine ahead.
To be, or not to be, that is the question: Whether 'tis nobler in the mind to suffer The slings and arrows of outrageous fortune, Or to take arms against a sea of troubles Hello traders Straight from the Bart's mouth. Should we continue to duck and dive through this chaos and continue trading? Or will we drown in this sea of troubles? Well, I shorted EUR/USD last night at 1.1535 with an eye towards 1.1413 as a purely technical play after the tirade to fire Powell which we all know is so much baloney because he is just the mouthpiece of the FOMC, not the ultimate decision maker. The pop higher over the weekend was illiquid because of the Easter weekend. I closed my short at 1.1420 and was planning on shorting again at 1.1480 but the live on TV announcement that he has no intention to fire Powell upended that apple cart. I have initiated a short position at 1.1405 after the retracement from the 1.1308 low with an eye towards 1.1000 but who knows? He has now softened his stance on the Chinese tariffs but once again, don't hold your breath. The only certainty we can count on is that there will be continuous uncertainty. Gold has a shooting star on the 2D chart and DXY has a long tailed Doji on the downside. Long story short, keep swimming. We chose this career voluntarily and while we will never outsmart the market, we can definitely switch from free style swimming to back stroke to Esther Williams water ballet BUT don't just give up. Good luck all.
Cride oil may have recovered back above $60, but it is making hard work of it. And with resistance looming and large specs increasing short bets, perhaps a pullback due. But does that mean a break below $60 is imminent? Matt Simpson, Market Analyst at Forex.com and City Index
Gold may have topped, unless bulls can hold $3,322.95 Looking for minimum first Target zone $3258.64-3259.57 After a bounce we may see another leg down to $3222.15 It topped "for good" then we will quickly hit major support $3062.69-3082.58 . Previous Analysis that caught the last Bounce at $2,964 EXACTLY: https://www.tradingview.com/chart/XAUUSD/O8Y565ro-XAU-usd-watch-3100-possible-dip-to-2964-on-the-way-to-3322/ ===================================================================
The move up today looks very encouraging, but we only have a 3 waves move so far. Price broke above $7.39, which is a good sign, a higher high. Now price needs to stay above $6.67 and complete a full 5 waves sequence. Even then, the danger might not be over until price breaks above $8.24 and better yet, above $8.86. I will be ready to get my bag filled on wave 2 retrace and will have stop loss at the last low. If we don't see price making another high before the retrace, chances are RIOT will go lower one last time. At the moment, crypto market overall seems to be on a rebound. Has the mighty bull market started? We will find out soon enough! I am following M2 money supply chart closely. There are some very intriguing analyses out there on correlation between M2 global money supply and total crypto market cap. Fundamentally, it makes a lot of sense. And if BTC rebounds, RIOT and other miners will rebound stonger. Recently, the Gold bull run has made GDX spike higher (almost 33% for gold this year compared to almost 60% for GDX). If GDX breaks to all time high, that will be an extreme move by the miners. If RIOT and other big BTC miners see similar move against BTC, it will be multiple times gains. Not trying to bet on something theoretical, but if it plays out, it will make a lot of very rich holders...
Awaiting a strengthing of the US Dollar. I have outlined support and resistance area's. https://www.tradingview.com/chart/NZDUSD/IgihDOw8-NZDUSD-Bearish-Trend-Forming-on-Daily/ Support and Resistance for NZDUSD OANDA:NZDUSD TVC:DXY
The last 10 trading days in Gold can be summed up in just one word: madness. Back on April 9, the price was still under 3000 – yesterday it kissed 3500, marking an explosive 5000-pip rally in less than two weeks. That’s over 15% gain in no time! ? As I mentioned in yesterday’s educational post , even though I expected a major correction, the lack of a clear stop loss setup made me choose the safest option: staying out. Well, Gold did what it does best – surprise. Just before reaching a new all-time high, price reversed and at the time of writing, it has already dropped over 1600 pips from the peak. ? From a technical perspective, there are some important developments: - Price has broken below the rising trendline, signaling a potential shift on short term - Now, it's heading towards the 3250 support zone, which is aligned with the 50% Fibonacci retracement of the recent rally. - This area could become a battleground – if bulls step in, we might see another bounce. ? Trading Plan: From the selling side, the only potential setup I see is around 3450, but with a huge stop loss, making it less attractive. On the buy side, I’ll be watching the 3250 level closely. If price action shows strength there, I may consider entering long – but only if the market conditions align properly. Until then, I’m observing from the sidelines. No FOMO – just disciplined strategy. ? Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
TRADE UPDATE As planned for the week price traded to my POI just as i'd anticipated (without getting to my DOL first) so i took my Long Position and it got to my TP for a quick 1:3RR. KEY TAKEAWAY I followed my plan and waited for price to come to my level without chasing it(even after the quick spike up to begin the week). Patience Pays!