Us30 Sell setup 132 PipsCheck the video to get understanding on my view on us30 this week
Follow and comment below for other breakdowns
Commoditytrading
SVB crash shocks marketThe Silicon Valley Bank collapse marked the second biggest bank failure in the US, after the 2008 financial crisis. Although bank deposits remain intact, shareholders are not protected. Shares of the parent company’s SVB Financial Group have plummeted over 70%, currently at $106.04.
The S&P 500 slid 56 points to 3,861. The Nasdaq 100 traded 165 points lower at 11,830, and the Dow Jones Industrial Average declined 345 points to 31,909.
Meanwhile, US nonfarm payrolls in February increased by 311,000, against Mitrade's estimates of 205,000. On the other hand, the unemployment rate also climbed to 3.6%, higher than the expected 3.4%. Mixed signals in the labor market and a shell-shocked financial market drove up safe-haven demand, with spot gold adding $36 to $1,867.24 an ounce.
The dollar then weakened against its peers. EUR/USD increased 63 pips to 1.0643, and AUD/USD rose 51 pips to 0.6641. GBP/USD surged 103 pips to 1.2028, as UK GDP recorded 0.3% month-on-month growth in January, which rose past the market consensus of 0.1%. USD/CAD slipped 62 pips to 1.3765, and USD/JPY fell 116 pips to 134.98.
WTI oil futures moved up $0.90 to $76.68 a barrel. Bitcoin and Ethereum recovered to $22,476.0 and $1,606.70 respectively.
High US Initial Jobless Claims readings caused market jittersThe US initial jobless claims rose to 211,000, higher than the expected figure of 195,000. Investors then worry about February’s Nonfarm Payrolls report, which will be released later today with Mitrade estimating a reading of 205,000. USD/CAD added 23 pips to 1.3827, and USD/JPY dropped 120 pips to 136.14.
As UK GDP is expected to grow by 0.1% in the month, GBP/USD gained 83 pips to 1.1925. EUR/USD increased 36 pips to 1.0580, and AUD/USD rose 4 pips to 0.6590. Spot gold climbed $17 to $1,830.88 an ounce, and WTI oil futures slid $0.94 to $75.72 a barrel.
After Silvergate announced plans for “Voluntary Liquidation” were disclosed, its stock price plunged 42.16%, and Bitcoin and Ethereum plummeted to $19,892.0 and $1,418.36 respectively.
The stock market ended lower. The S&P 500 declined 73 points (-1.85%) to 3,918. The Nasdaq 100 dropped 219 points (-1.80%) to 11,995, and the Dow Jones Industrial Average lost 543 points (-1.66%) to 32,254.
Bank of Canada halts rate hikesThe Bank of Canada just announced its interest rate decision - leaving as it is at 4.50%. While the decision has been expected by Mitrade, it is also the first major central bank to put an end to months of rate hikes. USD/CAD then added 50 pips to 1.3804, and USD/JPY added over 20 pips to 137.34.
Though EUR/USD slipped 6 pips to 1.0544, GBP/USD managed to add 12 pips to 1.1842, and AUD/USD closed 5 pips higher to 0.6586. Bitcoin and Ethereum just fell to $21,743.0 and $1,537.22 respectively.
As investors await the US Nonfarm Payrolls report on Friday, spot gold declined slightly to $1,813.86 an ounce. Despite a drop in crude oil inventories by 1.69 million barrels, WTI oil futures dropped $1.2 to $76.66 a barrel.
The Nasdaq 100 climbed 63 points (+0.52%) to 12,215, and the S&P 500 edged up 5 points (+0.14%) to 3,992. The Dow Jones Industrial Average decreased 58 points (-0.18%) to 32,798.
NEXT BIG MOVE ON GOLD Hello traders
Its been a while since i posted any charts because im too busy most of the time and i keep them on my pc or in my head
anyway here i am with a chart on gold for a potential long .
this chart/analysis is on a 3day htf and i anticipate the usd to continue its move to the upside up to 1.07 in which case we
will get the move down on gold to the drawn redion on my chart .
as i have labelled we have many confluences so i would expect a strong reaction in this zone
anchored vwap from sept 22 lows
200 ema
0.5 fib
0.618 fib pull from ath - sept low
htf value area low
0.382 speed fan which cuts straight through all of the above which i think is beautiful .
set alerts and wait for the reaction and know where you are invalidated !
i have marked out a channel which could give us an insight into further price movement after the move down .
you know the drill ..like follow share ..thankyou for stopping by
XAUUSD on February's Support ZoneXAUUSD after its biggest daily drop in recent months, it reached the Support Zone of February.
The MA50 (1D) has entered this Support Zone and can support as it is intact since November 10th 2022.
Legitimate short term buy opportunity.
Trading Plan:
1. Buy on the current market price.
2. Buy if the price breaks over Fibonacci 0.382 and retests the Pivot.
Targets:
1. 1280 (MA50 (4H) and Pivot).
2. 1856 (Fibonacci 0.618 and Resistance 1).
Tips:
1. The RSI (4H) is rebounding after breaking deep into the oversold level. It has been a strong buy signal before.
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NATGAS Long- Used SFP & Breaker Order Block, with confluence SFP at the Monday low on 12H, 4H, and 1H
- MSB to the upside on the 30m buying retest of Breaker Order Block
- TP1 will be Monday's high, will reassess there but there's a possibility of filling the gap at ~2.93 and could hit 1D FVG at ~3.05
Market sentiment muted in advance of Powell testimonyFederal Reserve Chairman Powell will testify in the US Congress's Joint Economic Committee, explaining recent policy decisions and providing the central bank’s economic outlook. The uncertainty raised risk-aversion sentiment in the market, leading USD/CAD to add 19 pips to 1.3612, USD/JPY also moved up 5 pips to 135.91.
EUR/USD increased 46 pips to 1.0678, Eurozone's retail sales in January grew 0.3% on the month, lower than Mitrade's estimate of 1.0%. But GBP/USD fell 19 pips to 1.2021, and AUD/USD dropped 41 pips to 0.6727.
Spot gold slid $9.7 to $1846.72 an ounce, and WTI oil futures gained $0.78 to $80.46. Bitcoin and Ethereum just recovered to $22,455.0 and $1,570.80 respectively.
The stock market closed slightly higher yesterday, with The Dow Jones Industrial Average advancing 40.47 points (+0.12%) to 33,431. The Nasdaq 100 rose 11.67 points (+0.09%) to 12,302, and the S&P 500 added 2.78 points (+0.07%) to 4,048.
WTI CRUDE OIL Sell SignalWTI Crude Oil reached Resistance Zone (1).
Breaking above the Declining Resistance resembles late January.
Limited upside to Resistance Zone (2) based on the past 4 months.
Trading Plan:
1. Sell on the current market price.
Targets:
1. 74.00 (over Support Zone 1).
Tips:
1. The MACD is also inside its 3 month Resistance Zone. The next Bear Cross will confirm the downtrend.
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Notes:
This is an extension of this trading plan:
USOIL has stong bearish indicationsUSOIL make the double top and AB=CD pattern which verify its downtrend starts soon.
Sell at 80.57
TP 78.50
SL 81.50
AUD strengthens ahead of the rate decisionOn Tuesday, the Reserve Bank of Australia is expected to raise the interest rate by 25 basis points to 3.6%. Mitrade estimates Australia's retail sales in February to grow by 1.9%. Meanwhile, AUD/USD increased 39 pips to 0.6768.
EUR/USD added 36 pips to 1.0632, and GBP/USD surged 99 pips to 1.2040. USD/CAD slid 3 pips to 1.3593, and USD/JPY fell 90 pips to 135.86.
Spot gold rose over $20 to $1,856.43 an ounce, and WTI oil futures edged up $1.52 to $79.68 a barrel. Bitcoin and Ethereum are currently trading lower at $22,342.0 and $1,560.78 respectively.
The Nasdaq 100 jumped 245 points (+2.04%) to 12,290. The S&P 500 gained 64 points (+1.61%) to 4,045. The Dow Jones Industrial Average surged 387 points (+1.17%) to 33,390.
NATURAL GAS BULLISH RSI DIVERGENCE IN DAILY TF !!!Hello to everyone,
As we can see there is a Bullish divergence in RSI & PRICE on daily timeframe . This is indicating that price has not much momentum to go downside. We can expect a trend reversal in natural gas but only RSI divergence does not confirms the trend reversal. We need positive price pattern or any bullish candle formation to go upside at the bottom of chart. If any bullish candle or bullish scenario forms than only we can go for the long position.
The green candle indicating price momentum towards upside and green candle has good volume also ,which is showing strength in buyers./b]
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad.
Resilient labor data strengthens the greenbackUS Initial jobless claims in February fell to 190,000, lower than the market expectation of 195,000 and January's reading of 192,000. A tight labor market has strengthened the greenback against its peers, as continued rate hikes become more likely. USD/CAD traded 2 pips higher to 1.3596, and USD/JPY climbed 58 pips to 136.76.
EUR/USD declined 69 pips to 1.0596, as the Eurozone year-on-year inflation rate dropped to 8.5% in February, higher than Mitrade's projections. GBP/USD plunged 90 pips to 1.1941, and AUD/USD decreased 32 pips to 0.6729.
Spot gold closed $0.98 lower at $1,835.74 an ounce, and WTI oil futures edged up $0.47 to $78.16 a barrel. Bitcoin and Ethereum declined to $22,845.0 and $1,581.56 respectively.
The Dow Jones Industrial Average surged 341 points (+1.05%) to 33,003. The Nasdaq 100 rose 106 points (+0.89%) to 12,044, and the S&P 500 also increased 29 points (+0.76%) to 3,981.
German inflation rate outpaces estimatesThe German year-on-year inflation rate rose by 8.7% in February, against the expected 8.5%. The data also indicated a steady price level increase despite high readings. Later tonight, the Eurozone year-on-year inflation rate is projected to slow from 8.6% to 8.2%, as EUR/USD climbed 89 pips to 1.0665.
GBP/USD added 11 pips to 1.2031, and AUD/USD increased 31 pips to 0.6761. USD/CAD dropped 51 pips to 1.3594, and USD/JPY edged up 2 pips to 136.18.
Although the US had added 1.165 million barrels to the crude oil inventory, against Mitrade's estimate of just 457,000 barrels, WTI crude futures traded $0.51 higher to $77.69 a barrel. Spot gold rose $10 to $1,836.72 an ounce. Bitcoin and Ethereum are trading higher at $23,717.0 and $1,649.79 respectively.
The Dow Jones Industrial Average gained 5 points (+0.02%) to 32,661. But the S&P 500 declined 18 points (-0.47%) to 3,951, and the Nasdaq 100 plunged 103 points (-0.86%) to 11,938.
WTI OIL Rally is halfway there. Still a buy.WTI Crude Oil is now supported on the MA50 (4h).
The Channel Up that started on Support Zone (1) is similar to all previous 4 Channels that started on that level.
Price got rejected on the Mid level structure, indicating that we are only halfway there.
Trading Plan:
1. Buy on the current market price.
Targets:
1. 80.50 (under Resistance Zone 1).
Tips:
1. The Declining Resistance shows that since November, there have been 2 such Cycles and we are about to completed the 2nd.
2. MACD (4h) right over its neutral level, an additional factor indicating that the Channel Up is halfway there.
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Notes:
This is an extension of this trading plan:
XAUUSD New uptrend has startedGold crossed over the MA50 4H and invalidated the Channel Down.
This rise is strong as it started on a Double Bottom.
The price already filled the 0.382 Fibonacci level.
Trading Plan:
1. Every pull-back near the MA50 4H starting from now.
Targets:
1. 1870 (which is a little under Fibonacci 0.786 and on a projected course with the MA200 4H). Close the trade earlier though if it hits the MA50 1D earlier.
Tips:
1. The RSI 4H is entering a 1 month Resistance. Use this to anticipate when the price might pull back in order to either take short term profits or be ready for buying price pull backs.
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Australia and Canada post mildly disappointing GDP resultsIncreasing living costs saw Australia’s GDP just add 0.5% in the quarter, slightly lower than the expected 0.7%, with AUD/USD sliding 6 pips to 0.6728. In Canada, its monthly GDP readings also fell short of Mitrade's estimates at -0.1%, as USD/CAD climbed 70 pips to 1.3645.
EUR/USD decreased 31 pips to 1.0576, and GBP/USD lost 44 pips to 1.2020. USD/JPY was down 4 pips at 136.16.
On Tuesday, the Nasdaq 100 dropped 15 points (-0.13%) to 12,042, posting the least deficit. The Dow Jones Industrial Average plunged 232 points (-0.71%) to 32,656, and the S&P 500 fell 12 points (-0.30%) to 3,970.
Spot gold jumped $9 to $1,826.78 an ounce, and WTI oil futures gained $1.37 to $77.05 a barrel. Bitcoin and Ethereum were trading lower at $23,163.0 and $1,606.63 respectively.
XAUUSD Short term buy signal by the RSIXAUUSD didn't just break over the 4hour MA50 today but what few are seeing is that the 1day RSI crossed over its MA as well. The last three times this has happened, Gold came very close or even hit the 1day MA50, even when it was on a downtrend.
The lowest rise was 2.75% and based on that worst case scenario we are long and have a 1855 target.
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Slow GDP growth expected from CanadaLater tonight, Mitrade expects Canada's month-on-month GDP to record 0.1% growth. Meanwhile, USD/CAD fell 34 pips to 1.3575, and USD/JPY closed 26 pips lower at 136.20.
This morning, Australia's retail sales were slightly higher at 1.9%, as AUD/USD moved up 9 pips to 0.6734. EUR/USD added 61 pips to 1.0607, and GBP/USD surged 118 pips to 1.2062.
The stock market is recovering from previous sessions, with the Nasdaq 100 gaining 88 points (+0.74%) to 12,057. The S&P 500 rose 12 points (+0.31%) to 3,982, and the Dow Jones Industrial Average increased 72 points (+0.22%) to 32,889.
Spot gold gained $5.68 to $1,817.28 an ounce, and WTI oil futures declined $0.64 to $75.68 a barrel. Bitcoin traded slightly higher to $23,380, as Ethereum decreased to $1,627.30.
Oil Sell setup 320 pipsThis setup is based on previous oil analysis, so we see price retracing to 61.8% fib level which also act as a high resistance level, so shall see a continutaion to downside
check the previous analysis for continuation to downside on link below
Nice risk to reward
Hope you guys enjoy the rest of week
Major US indices posted the highest weekly losses in 2023Hawkish signals from the Federal Reserve meeting minutes had sent the stock falling. The Nasdaq 100 was down 3.14% in the past week. The Dow and the S&P 500 also lost 2.99% and 2.67% respectively, which were the highest weekly losses in 2023 for all three indices.
On Friday, the Nasdaq 100 plunged 210 points (-1.73%) to 11,969. The S&P 500 lost 42 points (-1.05%) to 3,970, and the Dow Jones Industrial Average also fell 336 points (-1.02%) to 32,816.
Prospects for more aggressive rate hikes fuelled the greenback. EUR/USD slid 49 pips to 1.0546, and AUD/USD declined 82 pips to 0.6725. GBP/USD dropped below the 1.2000 level, losing 69 pips to 1.1944. USD/CAD added 62 pips to 1.3609, and USD/JPY surged 176 pips to 136.46.
Spot gold declined more than $10 to $1,811.6 an ounce, while WTI oil futures traded $1.20 higher to $76.32 a barrel. Bitcoin just recovered to $23,538.0, and Ethereum rebounded to $1,642.62.
Natural Gas prints an RSI bullish divergence As you can see in the chart, natural gas had a big downside movement for the last months. Now It looks like the bottom is printed so I will consider entering a long here with targets 3.11$ and 4.69$ .
You can see apart from the Bullish Divergence that It is starting to show a lot of strength, you can observe a gap-up between 2.314$ and 2.415$.
For the buy setup I will enter now and set an stop loss order under the gap. If the position goes well, I will keep locking profits manually trailing the stop under key areas.
Don't forget to share your thoughts on the comments and happy emotionless trading.
US GDP growth less than expectedOn Thursday, US quarter-on-quarter GDP reported a 2.7% increase, over market estimates of 2.9%. The US dollar then weakened with USD/CAD moving down 2 pips to 1.3547, and USD/JPY falling 20 pips to 134.70.
Meanwhile, EUR/USD declined 6 pips to 1.0595, as the Eurozone year-on-year inflation rate rose 8.6% as Mitrade has expected. GBP/USD dropped 31 pips to 1.2013, and AUD/USD traded 4 pips higher to 0.6807.
To prepare for a possible decline in oil production, US Crude Oil Inventories added 7.648 million barrels, though WTI oil futures added $1.44 to $75.39 a barrel. Bitcoin is trading lower at $24,073.0, and Ethereum just climbed to $1,659.52.
The Nasdaq 100 surged 113 points (+0.94%) to 12,180. The S&P 500 rose 21 points (+0.53%) to 4,012, and the Dow Jones Industrial Average also gained 108 points (+0.33%) to 33,153.
