Gold:Short term analysis for 13/11/2024Disclaimer:
This is my personal opinion and is intended for educational purposes only. Please consult your financial advisor before making any decisions.
Time Frame: 4-hour
Market Analysis:
The 4-hour XAUUSD chart exhibits a short-term bullish trend, with the RSI indicating a slight oversold condition. Price movement is confined within the trend channel, suggesting potential upside to the upper trend channel to fill the gap.
The chart indicates:
Bullish RSI divergence.
Price movement within the trend channel.
Confluence of resistance and daily point of control at 2656-2628.
Supply zone (OBV) near resistance.
Possibility of zig-zag movement within the channel.
Key Levels:
Resistance (Point of Control): 2656-2628
support(weekly point of control): 2580.00
OBV (Lower Target): 2580-25431
Trading Bias:
Moderate bullish, the price might touch uppper channel and get rejected. The volume indicate that buyers are stepping in.
Volume
Rivian in interesting point - up or downAT:
+ we are near last bottom/lower low. One could make buy transaction with low stop loss (below last low)
+ there was seen some accumulation and rising price with higher volume
- however after such spike, price again lowered - not yet ready for up trend ?
- current trend is to downside
+ we are on a support level and could make bounce to the next resistance: 15 usd and later 20 usd
Fundamentals:
- still not profitable company
+ huge investment from VW
+ VW buying stock: article
+ plan to deliver all estimated vehicles in 2024 (earning for Q4Y2024 are promising)
- Trump is considered as something bad for Rivian
This is what I gathered and what I'm thinking. It's really worth to risk now with small Stop Loss below last low. What do You think about it ?
XAGUSD. Trading opportunityHello traders and investors!
Let's look for trading opportunities in silver.
Daily Timeframe (TF)
On the daily TF, the price has formed a range (sideways movement) that began in April. The upper boundary is at 32.5185, and the lower boundary is at 26.0185. The buyer's vector from point 8 to 9 has hit its target of 31.755 and successfully broke above the upper boundary of the range. However, the seller returned the price back into the range. The current vector of the seller is from point 9 to 10, with a potential target of 26.471.
We are now seeing an attempt by buyers to reverse the price upwards. The price came close but didn't quite reach 30.12, the start of the last sub-impulse of the buyer on the daily TF, which is likely to attract the price. It's better to look for selling opportunities on the daily TF from the seller’s defense of the key seller's candle (highest volume) when the price returns to the range. This level is at 32.16.
Hourly Timeframe (TF)
On the hourly TF, there is a long trend following accumulation in a range. The defense level of the breakout from the range is 30.6445. Locally, it is possible to look for buy opportunities from the buyer’s defense zone between 30.84475 and 30.821. Targets should be set nearby, such as the local high. It's possible the buyer could reach up to 32.16.
Good luck with your trading and investments!
XAUUSD. Waiting for the opportunity to buyHello traders and investors!
Yesterday, the price interacted with the 2604.39 level. The daily candle had increased volume, which could indicate buyer interest.
On the hourly timeframe, there is a sideways range. If the price breaks above the upper boundary of 2617.125 and the buyer successfully defends this breakout, it may be a good opportunity to look for buy positions. It would be wise to monitor how the price handles the 2627.235 level, as a seller might appear there.
These would be aggressive buy positions. Conservatively, it makes more sense to look for buy opportunities after the buyer absorbs yesterday's daily seller candle on the daily timeframe.
The previous detailed analysis can be found in the related post.
Good luck with your trading and investments!
Inverse Head and Shoulders Pattern - SYNCOMFHey traders,
I wanted to share an interesting swing trading setup I spotted on the SYNCOM FORMU (I) LTD daily chart. The stock has formed a classic inverse head and shoulders pattern, which is a bullish reversal signal. This pattern is characterized by three troughs, with the middle trough (the head) being the lowest and the two outside troughs (the shoulders) being higher and roughly equal in height.
Here's the breakdown:
The left shoulder formed around mid-October.
The head was established in late October.
The right shoulder completed in early November.
The neckline of this pattern is around the 21.57 INR level, which the stock has just broken above, indicating a potential upward move. The target for this pattern is calculated by measuring the distance from the head to the neckline and projecting it upwards from the breakout point. This gives us a target around 24.93 INR.
Volume also supports this breakout, as we can see a significant increase in buying volume during the breakout. This adds more credibility to the bullish move.
For risk management, consider placing a stop loss below the right shoulder, around 20.48 INR. This setup offers a good risk-to-reward ratio, making it an attractive swing trade opportunity.
Happy trading and stay safe!
XAUUSD. Where to wait for the buyer's resumption?Hello traders and investors!
The price of gold is correcting. Let's take a look at where a reversal of the correction might occur for potential buy opportunities.
On the weekly chart, the last impulse started from the level of 2604.39. The key bar of the impulse (the one with the highest volume) is at its base. Currently, the price is within the range of this bar, but I don't see increased volumes on the daily timeframe. On the contrary, the volumes of the last three days are decreasing. Is there no buyer? We are waiting for the price to interact with the 2604.39 level, where a buyer might appear.
The next interesting range for a potential buyer resurgence is 50% of the last buyer's impulse on the monthly timeframe, which is at 2538.5.
Good luck with your trading and investments!
📈RUNE can go high to $40 level / Alt Season rally📉BINANCE:RUNEUSDT
KRAKEN:RUNEUSD
Hello Traders
Rune is one of my suggestions for the altcoin market.
You can clearly see that volume has increased continuously. ---> Highly potential for the alt rally season.
RUNE is the native token of the THORChain network. It represents a multi-purpose universal token that supports all functions on the THORChain network and helps run the protocol. RUNE is used in governance, for staking, bonding for validator Nodes, and trading.
The best strategy for altcoins is to allocate a certain percentage of assets (for example, 10% of the total portfolio) to buy potential altcoins.🎲
BTC correctionaccording to this LuxAlgo indicator, BTC can undergo a short correction. This is due to the red zone the price is in. The red zone indicates a low money flow, people do not buy or sell a lot in this zones. This suggests BTC is slighly overbought. At the other hand, the sentiment profile (at the left of the profilemap) shows a strong market, with even 100% change on bouncing futher to HH.
Volume Breakout - Swing TradeDisclaimer: I am not a Sebi registered adviser.
This Idea is publish purely for educational purpose only before investing in any stocks please take advise from your financial adviser.
Volume Breakout. Stock has give Breakout with Volume. Keep in watch list. Buy above the high. Suitable for Swing Trade. Stop loss & Target Shown on Chart. After Entry, Exit With in 5 Days, whether Target / Stop loss Hit or Not.
Be Discipline because discipline is the Key to Success in the STOCK Market.
Trade What you see not what you Think.
Note: Entry above High Only as shown on Chart as it is the confirmation of Trend Continuation
APTOS ATH Volume DivergenceAptos has printed an ATH in OBV whereas price still sits just above 50% of the value of the previous ATH in 2021.
Once the price catches up to the volume, it will be free sailing to head to $100.
Chart uses binary scales on the fibonacci tool with two different start points to plot.
Everyone selling GOLD to buy Bitcoin???Hey guys! New trading week is here, and we're entering market with Bitcoin ATH.
Today I want to talk a bit about gold.
And here are some interesting moments. First time since April we finally can see MA cross on a daily chart, and price of Gold is reacting with a big red candle.
Also, as a confirmation, we can see that the volumes are descending and RSI is heading to low edge.
Seems like after BTC ATH some money are flowing from Gold to Bitcoin. The target by Fibo can be zones 0.5 and 0.618.
What you think, guys, is really people starting to reinvest money from real gold to digital gold? Let's discuss
PS. If you're planning to trade the movement, follow the risk ratio, which I marked.
MGC Short 11/10/2024MGC is in a sideways + down momentum in daily chart as price closed below 21EMA. It is in a downtrend in 4hr chart. Price is testing 4hr 21EMA and 200EMA. Placed a short in SZ above 4hr 21EMA (purple horizontal line) that broke high volume DZ (green box). Taking half risk because the zone is low volume. Risk= $124. Target= 1:1 and daily DZ (blue box).
AUD/JPY Day Trading Analysis With Volume ProfileOn AUD/JPY , it's nice to see a strong sell-off from the price of 102 . It's also encouraging to observe a strong volume area where a lot of contracts are accumulated.
I believe that sellers from this area will defend their short positions. When the price returns to this area, strong sellers will push the market down again.
Downtrend and high volume cluster are the main reasons for my decision to go short on this trade.
Happy trading,
Dale
USD/JPY continues the downtrendOn USD/JPY , it's nice to see a strong sell-off from the price of 153.930 . It's also encouraging to observe a strong volume area where a lot of contracts are accumulated.
I believe that sellers from this area will defend their short positions. When the price returns to this area, strong sellers will push the market down again.
Weekly POC and high volume cluster are the main reasons for my decision to go short on this trade.
Happy trading,
Dale
EUR/USD Day Trading Analysis With Volume ProfileOn EUR/USD , it's nice to see a strong sell-off from the price of 1.07420 and 1.07800 . It's also encouraging to observe a strong volume area where a lot of contracts are accumulated.
I believe that sellers from this area will defend their short positions. When the price returns to this area, strong sellers will push the market down again.
FVG and high volume cluster are the main reasons for my decision to go short on this trade.
Happy trading,
Dale