Trading Plan for Wednesday, May 8th, 2024
Market Sentiment: Bullish, but increasingly cautious in the overbought market. Consolidation is ongoing, and a deeper pullback is likely before further advances. Maintain disciplined risk management.
Key Supports
Immediate Supports: 5209 (major), 5202, 5188-91 (major)
Major Supports: 5143-36 (major), 5067-69...
Daily weekly long. Hourly flat as a pancake.
This could be start of primary wave 2 of 5 or we will have a blow off top continued.
Watch 10yr data tomorrow around lunch.
I’ll update when I can.
Bullish anywhere above $5199.25. Bearish below to $5100.75
Remember big expiration next week on the 17th.
SPX500USD has been undergoing some bullish momentum over the last few days. This may lead to a potential push to the $5350 region over the next few days. Further movement will take time to tell; but overall it’s currently looking good.
All 4 of our Core YinYang Oscillators and exhibiting Bullish Momentum; however since there is such low Volume, it’s hard to...
OANDA:XAUUSD spot faced strong selling pressure and fell to a one-week low ahead of the Federal Reserve meeting.
The Conference Board's consumer confidence index fell for the third straight month in April, falling to 97.0 from a downwardly revised 103.1 in March.
Pessimism prevails ahead of the Federal Reserve's monetary policy announcement scheduled for...
Trading Plan for Tuesday, May 7th, 2024
Market Sentiment: Bullish, but increasingly cautious following a strong breakout. The RSI is deeply overbought, increasing the risk of sudden pullbacks. Proceed with heightened awareness of volatility.
Key Supports
Immediate Supports: 5186-88 (major), 5163 (major)
Major Supports: 5144-46 (major), 5060-65 (major)
Key...
Initial set up a pending order for the sell stop, thats now been invalidated. Looking for a change of direction confirmation.
If that does not occur Ill be placing the sell top order again
Here are the updates & outlook for multiple instruments in my watch list.
1️⃣ #EURUSD daily time frame 🇪🇺🇺🇸
EURUSD is trading in a bearish trend on a daily.
The price is falling steadily within a falling wedge pattern.
With a recent correctional movement, the price reached the resistance of the range.
A trend-following movement may initiate...
BULLISH US DOLLAR FORECAST OANDA:EURUSD
- The mighty dollar is back as CPI data impacts policy paths
- EURUSD at risk after the ECB laid out the conditions for lowering rates
THE MIGHTY DOLLAR IS BACK AS CPI DATA IMPACTS POLICY PATHS
The US dollar is back in the FX market following strong CPI data, leading to a reevaluation of the world's reserve...
At the latest policy meeting, the ECB decided to keep interest rates unchanged but left no doubt about its intention to move to more easing. The guidance prompted traders to increase bets that the organization led by Christine Lagarde will launch an easing campaign at the next monetary policy meeting in June.
The prospect of the ECB being ahead of the Fed on...
EURO ( OANDA:EURUSD ) ANALYSIS
- Flash PMI data provides unflattering US outlook, Europe improves
- EURUSD rises after US PMI shock
FLASH PMI DATA PROVIDES UNFLATTERING US OUTLOOK, EUROPE IMPROVES
German and EU manufacturing remains depressed but encouraging rises in flash services PMI results suggest improvement in Europe. UK manufacturing slumped well...
After a subdued performance late last week, the EUR/USD bounced back on Monday, challenging overhead resistance at 1.0725. A successful clearance of this technical barrier could pave the way for a move towards 1.0755. Further strength from this point onwards would shift focus to the 1.0800 handle, where the 50-day and 200-day simple moving averages converge.
In...
Trading Plan for Monday, May 6th, 2024
Market Sentiment: Uncertain, with bulls seeking further confirmation after exceeding a major resistance level on Friday. Consolidation and complex, level-to-level price action are likely.
Key Supports
Immediate Supports: 5145-50 (major), 5136, 5116-13 (major)
Major Supports: 5082-77 (major), 5067 (major), 5060...
After an ugly couple of weeks, the NQ has been able to recover
flawlessly above all support levels, and is looking poised to continue higher here.
If the Nasdaq can continue to hold onto 17000 in the future, expect a test of 18080-18200 in
the near future. Anything above 18500 would open the door to higher targets at
18650/19000/19200/19550 and higher.
If the NQ...
Gold continued lower last week and is currently just bouncing around our fib targets
between 2285 and 2425. For this week, if 2285 cannot hold, expect a move lower to 2225/2200/2150/2075-2100. If 2285 can hold as support, expect a move higher to 2300/2350/2400-2425.
Market attention turns to the Federal Reserve's monetary policy decision on May 1 and upcoming nonfarm payrolls data.
Data released last week showed US gross domestic product fell short of target, while the core personal consumption expenditures (PCE) price index, the Fed's preferred inflation measure, stagnated at growth of 2.8% year-on-year for the second...
🔍Let's dive into today's market analysis. Compared to yesterday, the market hasn't made any significant moves, prompting us to zoom in on the daily timeframe for a broader perspective. Today, our focus is on ALGO coin, presenting intriguing opportunities for both short and long positions. Let's dissect the price action to identify optimal entry points for futures...
