US100 ~ Ho Ho Santa Rally or EOY Bah Humbug Bust? (4H)CAPITALCOM:US100 chart mapping/analysis.
Nasdaq 100 consolidating into key macro economic news, much like S&P 500.
Trading scenarios into EOY:
Bullish reaction to macro economic news = break above ~16167 trading range (yellow dashed) towards ascending trend-line (green) / red box confluence zone.
Bullish extension target(s) = new historical highs surpassing ~16770 November 2021 high.
Bearish reaction to macro economic news = break below ~15690 trading range (yellow dashed) + descending trend-line (light blue) towards 78.6% Fib / 200SMA dynamic support confluence zone.
Bearish extension target(s) = descending trend-line (white dotted) / ascending trend-line (green) / Golden Pocket confluence zone.
CFD
AU200 ~ Commodities or Follow US Markets? ASX Wants Both! (2H)CAPITALCOM:AU200 chart mapping/analysis.
ASX grinding higher into EOY, benefitting from relative strength in global commodities & precious metals.
Trading scenarios into EOY:
Continued commodity strength + US bullish momentum = rally into 23.6% Fib / ascending trend-line (light blue dotted) confluence zone.
Rally would coincide with re-test of bearish breakdown from pennant pattern.
Commodity weakness + US market capitulation = re-test of 38.2% Fib, into horizontal line (yellow dashed) / 200SMA / lower range of ascending parallel channel (green dashed) uber confluence zone.
DXY/USD ~ Bullish Reversal / Inverse H&S (1H)TVC:DXY chart mapping/analysis.
Bullish inverse H&S identified on lower timeframe charts, pending breakout confirmation.
Trading scenarios into EOY:
Inverse H&S breakout = extrapolated move into 23.6% Fib / ~106 horizontal line (yellow dashed) / upper range of descending parallel channel (light blue) confluence zone.
Breakout failure = re-test 50% Fib aka "Right Shoulder".
Further bearish capitulation = re-test lower range of ascending parallel channel (white) / Golden Pocket confluence zone.
Major macro economic news this week = higher probability of implied volatile swings in either direction.
AUDUSD ~ Risk Off Sentiment: Stuck In Limbo into EOY (2H)FX_IDC:AUDUSD chart mapping/analysis.
Aussie Dollarydoos struggling to regain bullish momentum after early December peak.
Trading scenarios into EOY:
Preliminary trading range = ~66.20 to ~65.25.
Break above ~66.20 = regain bullish momentum.
Bullish target(s) = re-test descending trend-line (white dotted) / upper range of ascending parallel channel (green).
Break below ~65.25 = extend bearish capitulation.
Bearish target(s) = 61.8% Fib / lower range of ascending parallel channel (green) confluence zone.
200SMA also acting as dynamic resistance, reinforcing bearish rollover.
Major macro economic news this week = higher probability of implied volatile swings in either direction.
US Oil ~ Macro Headwinds > Market Intervention (1H)TVC:USOIL chart mapping/analysis.
Crude Oil reversing all gains manufactured by OPEC+ production cuts & Middle-East conflict premiums, while threatening to further capitulate due to growing macro headwinds leading into 2024..
Trading scenarios into EOY:
Bullish resurgence = rally above horizontal resistance line (yellow dashed) into 23.6% Fib & upper range of descending parallel channel (white) / re-test ascending trend-lines (green dotted) confluence zone.
Bearish continuation = break below previous low (~68.80) towards ~67 horizontal line (yellow dashed) / descending trend-line (light blue / lower range of descending parallel channel (white) confluence zone.
Neutral scenario = further sideways chop until next OPEC+ catalyst / key macro economic development.
Gold/XAUUSD ~ Blow-off Top Keeps On...Blowing? (2H)TVC:GOLD chart mapping/analysis.
Gold's massive (algo-triggered) blow-off top killed the bullish momentum - pending further selling pressure if DXY/bond yields decide to rally into end of the year..
Trading scenarios into EOY:
Selling pressure towards 50% Fib initial support zone.
Bearish EOY capitulation target = Golden Pocket support zone.
Expect any bullish reversal to be met with sellers, pending underlying relative strength in DXY/bond yields.
38.2% Fib / 200SMA confluence zone as potential target for short positioning, TBC.
Copper ~ Help Me Obi-China, You're My Only Hope (2H)CAPITALCOM:COPPER chart mapping/analysis.
Copper - off its October lows, yet still contending with global macro headwinds & China's difficulty in shaking off its deflationary economic funk..
Trading scenarios into EOY:
Prelim trading range = ~3.93 - ~3.73.
Under bearish pressure from 38.2% Fib rejections.
Bullish reaction to China/macro economic news = bounce off lower range of parallel channel (green) + 200SMA confluence support / break above 38.2% Fib / break above ~3.93 upper trading range.
Bullish extension target(s) = 50% Fib / upper range of parallel channel (green) confluence zone.
Bearish reaction to China/macro economic news = break below ~3.73 lower trading range / lower range of parallel channel (green) / break underneath 200SMA, becoming dynamic resistance.
Bearish extension target(s) = 23.6% Fib / lower range of descending parallel channel (light blue).
USDCHF - Getting Over-Sold❗️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
on Daily: Left Chart
USDCHF has been bearish trading inside the falling red channel. However it is currently approaching a strong daily support zone so we will be looking for buy setups on lower timeframes.
on H4: Right Chart
For bullish momentum to prevail and trigger our buy setup, a break above the recently highlighted grayed high is necessary.
Meanwhile , USDCHF would be bearish and can still trade lower to test the lower bound of the daily support. In this case we will be looking for new buy setups.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
US100 ~ November TA Outlook V2 (4H Intraday)CAPITALCOM:US100 chart mapping/analysis V2.
Always good practice to revisit your chart(s) after couple days with a refreshed perspective, to determine whether your initial TA has complimented developing price action, or your drawings need to be updated/overhauled.
Revisit updates:
Re-adjusted ascending parallel channel (green line) + highlighted middle trend-line (white dashed) to emphasize potential resistance of breakout price action
Extended descending trend-line (light blue dotted) to connect pivot points from Nov 2021 Dec 2021 peaks
Remaining TA drawings have held up so far, TBC.
US500 ~ November TA Outlook (4H Intraday)CAPITALCOM:US500 chart mapping/analysis.
Ripping bounce off lower range of descending parallel channel (white) into upper range of Golden Fib Ratio (66% Fib / ~4370).
TBC consolidation/retracement for further bullish momentum to re-test upper range of parallel channel, or bearish continuation of downward trend.
Gold - was, is and will always be our Safe Haven!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
on Daily: Left Chart
After rejecting the 1800.0 support, Gold has been bullish especially after breaking above 1900.0.
Currently, XAUUSD is sitting around a strong resistance in green.
For the bulls to remain in control, we need a break above 1960.0.
📈 In this case, a movement till the 2000.0 round number would be expected.
on H1: Right Chart
Meanwhile, the bears can still kick in. To be confirmed if the last low in gray at 1934.0 is broken downward around.
📉 In this case, we will be expecting a correction till the 1900.0 support.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Gold - Real gold is not afraid of the melting pot 🪔Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
As per my last picture and video analysis (attached on the chart), we have been looking for buy setups around the lower bound of the channel.
This week, XAUUSD rejected the lower blue trendline and round number 1800, and traded higher.
However, it is currently approaching the upper bound of the channel.
Moreover, the zone 1900.0 is a previous major low and round number.
🏹 So the highlighted blue circle is a strong area to look for trend-following sell setups as it is the intersection of the orange previous major low and upper blue trendline acting as a non-horizontal resistance.
As per my trading style:
As XAUUSD approaches the lower blue circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
DXY/USD ~ Flat Bottom Pattern + Inverse H&S (15min)TVC:DXY developing flat bottom pattern after rejecting upper parallel channel + potential inverse H&S pattern, TBC.
Inverse H&S Playbook (Long):
- Break above 200MA/38.2% Fib/descending trend-line confluence
- Reject 50% Fib/overhead supply (white box) confluence then bounce off 38.2% Fib to create the "Right Shoulder"
- Re-test & break (hold) above overhead supply confluence to activate inverse H&S pattern
- TP 1st target = ~107.70-108 21st Nov 2022 wick top/supply (red box)
Inverse H&S breakout also coincides w/ break above ascending parallel channel.
Flat Bottom Bear Break Playbook (Short):
- Break below horizontal "Flat Bottom" line to re-test middle trend-line (dark blue/dashed)
- Failed re-test of Flat Bottom &/or middle trend-line validates Bearish price action
- Moving averages (esp. 200MA) act as dynamic resistance, pushing price action towards lower parallel channel
- TP 1st target = ~106-105.70 (green box)