Identifying Support and ResistanceFor effective trading, identifying key areas of support and resistance is crucial as these levels act as barriers within market trends, affecting asset prices. Support and resistance levels are not just arbitrary points but are derived from previous price history where a price halted and changed direction.
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GOLDThe gold price dropped today due to the Federal Reserve's hawkish cut, which sent investors seeking safety into the US Dollar, outpacing demand for gold. As a result, gold fell towards $2,600 and below.. This move was anticipated, as the market had priced in a hawkish cut, and the focus is now on the Fed's expectations for 2025, which suggest fewer interest rate cuts.
The drop in gold price is also attributed to the strengthening US Dollar, which is trading near its weekly highs against most major rivals. Additionally, the technical indicators are neutral-to-bearish, developing around their midlines and failing to provide clear directional clues.
On dxy rally AUDUSD,USDJPY,EURUSD,USDCAD,GBPUSD will have a change in directional clues
Xrp - Another +100% Pump Is Starting!Xrp ( CRYPTO:XRPUSD ) is sill just getting started:
Click chart above to see the detailed analysis👆🏻
Xrp is so far perfectly following the repetition of cycles after we saw a beautiful breakout candle of November with an insane move of +280%. Looking at previous behaviour, it is now actually very likely that Xrp breaks the previous all time high and continues its strong rally.
Levels to watch: $3.0, $5.0
Keep your long term vision,
Philip (BasicTrading)
Nasdaq - It All Comes Down To This Month!Nasdaq ( TVC:NDQ ) is at a crucial breakout level:
Click chart above to see the detailed analysis👆🏻
The Nasdaq rallied an incredible +25% over the past couple of months and is now actually also breaking a major resistance trendline towards the upside. This could still turn into a false breakout but if it doesn't, we will most likely see a flourishing stock market year of 2025
Levels to watch: $21.000, $28.000
Keep your long term vision,
Philip (BasicTrading)
A rising Wedge Formation In the 4H - Short for Short Period.So even though Bitcoin is in the middle of a huge upward move markets always gave us the opportunity to make money in the middle of every strong trending moves. For now we got a rising wedge formation with a heavy pull back based on the news from the FED and the zone which is acting as a magnet support level got more confluence points including the strong demand zone, the horizontal support line of the 2 formed triangles and the 1.27 extension fib level on the higher timeframe. All this points and some other additional insights are included in this short video and enjoy watching it. Please do consider to do your own research before making any type of investments in any type of markets and I urge you to notice that this is not a financial advice at all rather a personal view point.
Nathnael B.
SPY to $585?: EOY Price TargetUsing the Magic Linear Regression Channel on TradingView.com we look at some possible scenarios for SPY price movement. A shorter term regression channel shows SPY at the top of the channel and rejecting it today - even with more buyers than sellers in the TradingView Volume Footprint chart view.
The bottom of the channel converges with last pivot low near $584. It could conceivable go lower, but with lower volume likely during the holiday season, it would seem less likely for it to make any more big moves barring some major unexpected event.
copper silver12.18.24 in this video I get to show you a perfect buying setup for copper.... using extensions and support resistance lines and ABCD patterns. on the other hand silver which I think is going higher but I could be wrong... is still a lousy trade today because it is badly contracted trading patterns like this are very stressful you're likely to have more losing trades if you pick a setup like the setup we see today and actually for the past 3 or 4 days on Silver..... the market needs time to expand before it's a good trade. the silver market is Trading in such a way that you can't tell who prevails the buyers or the sellers because the vertical range of this Market tells you that the buyers and sellers both don't know where the Market's going which is typical of a badly contracted Market.... so you wait for the market to Define itself and expand and we will get a chance to see that because sooner or later the market will expand then we can look to see what it looks like. contracted markets don't look dangerous but they are and you will have more losing trades and you'll get whipped around relatively bad risk reward Behavior.
GOLDGOLD could not hold on fomc ,Federal Reserve announced a quarter-point cut to its key interest rate Wednesday, an effort to keep stable what appears to be a steady but cooling economy. It's the central bank’s third rate cut of 2024. The move reduces the Fed's target rate to between 4.25% and 4.5%. In its statement announcing the cut, the Fed now projects just two interest rate cuts for 2025. It stated that the unemployment rate remains low, while the rate of inflation "remains somewhat elevated." The Fed's moves are designed to prevent the economy from overheating when growth is strong, or falling into recession when it is slow.
NU - Value Play of the DayObviously a lot can change within the next 20 minutes as Powell prepares his monologue... But just a value play here with NU Holdings - they've shown extremely strong growth over the past few quarters and I believe they continue that growth into next year when the market heats up again. Looking to average into a position here within the $9.50-$10.50 range.
Happy Trading :)
Pre FOMC View and a follow up on the USDJPYCheck out the Previous Bias on the Pair and follow through, Still expecting high volatility in the market and I believe this volatility could come from the FOMC Release.
Do well to take some partials from the second entry @154.50 and leave the rest based on our risk well calculated. Do the same on the GBPUSD Buy positions
Patience is the way! Ieios
Trading Gold on lower TF. Educational only. Very recent.Here is another example of trading on the very low time frame. I was live here trading and I had 2 Short positions, one of which I close during the video.
I would not say that being on the very low TF's is better. But what it does allow for is to see the way price is moving in the lead-up to the low timeframes 1-15 minutes. Down on the very low TF's you will see the same patterns and formation just like the higher TF's, lots of D/tops, D/bottoms and even the 1 second has these patterns.
I think its an advantage to be on very low timeframes when trading things like Heads n Shoulders patterns because you can see what is happening in the price action.
For example, say you are waiting for price to move up to the neckline where the pattern may trigger your Long and you are on the 1 minute timeframe, but you see that price is ever so gently receding and moving back down. Well, I would drop to the very low timeframes all the way down to 1 second. Now back to our example, on the 1 second TF I see a double top and because we are on the 1 sec things will move a bit faster.
However, I have confirmed why price is moving back a bit on the 1 miute. The very low TF's confirm that price is moving down a bit due to a Double top forming, so I do not worry so much and I wait until the D/top plays out and then my pattern on the 1-5 minutes will hopefully stay in play.
Microsoft (MSFT): What’s Next? Will It Break $455.34 Morning, Trading Family! Let’s Talk About Microsoft (MSFT): Will It Break $455.34 or Head Lower?
Microsoft’s stock is at a key level, and the next move could set the tone for what’s ahead. The magic number right now is $455.34. Will we see a breakout to new highs, or could the price dip lower before bouncing back? Let’s break it down step by step so everyone’s ready!
If Microsoft Breaks Above $455.34
If the stock moves above $455.34 and holds steady, it could signal that buyers are in control.
What could happen?
The price might head up toward $460 or even $465. These levels could be the next spots where the stock takes a breather.
What should we watch?
Look for strong movement above $455.34 with good trading volume (lots of action). If the price quickly dips back below, it could mean the breakout isn’t real yet.
How can we trade it?
If the price holds above $455.34, it might be a good time to think about buying with a target around $460. Just make sure to use a stop-loss in case the trade doesn’t go as planned.
If Microsoft Drops Below $455.34
If the stock struggles to stay above $455.34, we could see a pullback.
The first key level:
Watch $449. This is the next area where buyers might step in to stop the price from falling.
If $449 doesn’t hold:
The price could drop further, landing somewhere in the $443–$438 range, where stronger support is likely.
How can we trade it?
Be patient! If the price dips, wait for signs that it’s stabilizing at a support level before making any moves.
What If the Price Drops Below $438?
If MSFT falls below $438, it could mean the stock is turning more bearish. At that point, we’ll need to step back and reassess the trend.
Tips for Today’s Trading
If you’re bullish: Wait for the price to break and hold above $455.34 before jumping in.
If you’re bearish: Watch for a clean break below $449 for potential short opportunities.
Always: Use stop-losses to protect yourself and trade with a plan!
Bottom Line:
The $455.34 level is the line in the sand. If we break above, it’s good news for the bulls. If not, we could see a dip to $449 or lower.
Kris/ Mindbloome Exchange
Trade What You See
WTI - Short is now in the Short Sell ZoneLooking for an entry now to go short on WTI.
Stop loss will be above the previous high on the higher timeframe, and take profit will be lower down, potentially at the lower green zone, where I will then look for a buy position.
I am also watching the volume footprint to understand whether the order flow is slowing down, and the sellers are starting to take over. That is my final green light to short WTI on this trade.
Why I think the SPX500 upside is now capped to 6285 maxIn this video, I have covered century long Elliott Wave counts briefly to present a case on why we are close to completing the upside and soon will be rolling over to the downside. Only one leg on the upside seem pending and that should not extend beyond 6285.
Watch the video for details.
P.S. - There is some disturbance in audio during start so please bear with me.
Nat Gas Wed 18 DecScript opened with 5% gap on the upside, which was a surprise for awing traders who carried short position on tuesday. It remained irritating till 7 pm. Once the hope of filling the gap vanished it started creeping on the upside but it wasn't enough to cover the losses incurred due to the gap.
As always market favoured scalpers. Fluctuations were big enough to make money. Scaling in was a bit tricky though for someone who trades manually cause movements were quick. Overall volume was good, getting orders filled wasn't difficult.
Don't carry long positions today. Most of the time market tries to fill the gap of the previous session.
See you all tomorrow!
Bullish Inverse FVG 200+ Point TradeGovernment Required Risk Disclaimer and Disclosure Statement
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