Examining the chart, we observe a MACD crossover, indicating a short-term price increase. However, the downward trend of the RSI suggests weak buying pressure. The crossing of the SMA and EMA lines creates a strong resistance zone. Based on these factors, I predict a decline in gold prices.
hiii my little fellows 8m very happy because some people is insulting me but when i give it back. tradingview baned me. so crazy how things are this days... well today we hve limewire. have you seen the triangle?? maybe will go to 2.50$ im not sure im not a pandereta. try to feel the voice in the shadows
Using the MACD method, it's evident that buying pressure in gold has weakened, with selling momentum increasing. The rising RSI indicates robust buying activity. Additionally, the recent Bollinger Band squeeze suggests impending volatility. Despite the price closely tracking the upper band, a retest towards the middle band seems likely.
Following a slight retracement, BTCUSD is currently consolidating within a narrow range. A significant factor affecting Bitcoin sentiment is the potential approval of a Bitcoin ETF by Morgan Stanley in the coming weeks, as indicated by documents filed with the SEC. This prospective institutional embrace of Bitcoin could trigger a fresh influx of capital into the...
The downtrend in EURUSD persisted last week, with strong resistance at the 1.080 level failing to propel the Euro higher. Currently trading at 1.073, marking a 0.11% decrease for the day, EURUSD exhibits signs of a forming pattern, as indicated on the 1D chart. In a downtrend, the 1.080 resistance level may react similarly. Theoretically, unless EUR maintains...
In the above chart, you can see that prices are gradually forming lower highs, indicating that the selling side is gaining momentum over the buying side. In most cases, prices will break below the support line and continue to decline. However, in some cases, when the support is too strong, prices will bounce back and establish a strong upward trend. The good news...
First of all, let's pay attention to EMA. If you need a moving average that can quickly react to price movements, then a short-term EMA would be most suitable. It can help you catch trends quickly and generate high profits. The truth is, the quicker you catch a trend, the longer you can ride it and the more profit you can make. However, the drawback of EMA is that...
When this MA crosses that MA, it could be a signal indicating a potential change in trend, thereby providing you with a good entry opportunity. The price quickly moves upwards after breaking above the upper edge of the rectangle. If we have a buy order placed at the upper edge of the rectangle, we have made a profit. Just as the rectangle declines, here, once the...
Using Elliott Wave Theory and Fibonacci, I observe that the gold price is currently in wave 4. Rule 3 states: Wave 4 should never enter the territory of wave 1. Additionally, there are guidelines to help count waves more accurately. Unlike the three rules above, these guidelines may be violated. They are: - Conversely, sometimes wave 5 cannot extend beyond the...
One of the most popular methods to identify a rebound is by using Fibonacci levels. Typically, rebounds occur within the 38.2%, 50%, and 61.8% Fibonacci retracement levels before continuing in the prevailing trend. If the price extends beyond these retracement levels, it could signal a potential reversal. It's important to note that we use the term "could" instead...
Today, BTCUSD is holding steady around the $67,645-68,000 range, with no notable fluctuations observed. In this context, I continue to advocate for a bearish stance on BTCUSDT, especially as it moves away from its sideways trend. The signal from the EMA 9 further strengthens the optimism that the market may lean towards the selling side.
Bollinger Band Trading Strategy: Buying at Lower Band Touch with Reversion to Mean Place stop-loss below the lower band and take profit above the midline of the band. Set an alert for when the price touches the alert line, then adjust the order. RSI below 30 and trending upwards indicates a buying signal.
"Wave 1: The gold market experiences its initial uptick. This is driven by a small group of individuals who, for some reason, perceive gold prices as cheap and see this as a good buying opportunity. This drives prices up. Wave 2: At this point, some early buyers feel that gold has become overvalued and begin to take profits, causing prices to decline. However,...
Gold Forecast: Short-Term Dip Expected, Long-Term Outlook Remains Bullish" Gold prices are poised to reach 2331, although a temporary decline is anticipated. Despite this, the long-term perspective remains optimistic, with projections indicating a correction around 2280 before ascending towards 2553. Investors are advised to consider buying during these declines...
In the chart above, both buyers and sellers seem unable to steer the price in their desired direction. This is evident in the formation of lower highs and higher lows. When the top and bottom lines converge, a breakout is imminent. Although the direction of the price movement is uncertain, it is clear that the market is preparing for a significant change. To trade...
You can see waves 1, 3, and 5 formed from smaller impulsive 5-wave patterns, while waves 2 and 4 are formed from smaller corrective 3-wave patterns. Always remember that each wave is formed from smaller wave patterns. This model repeats itself indefinitely. On the daily chart, I see wave 4 forming. The RSI is rising high, indicating strong buying pressure. Using...
The Bullish Pennant Signals Continuation of Uptrend - indicating that the upward trend may resume. This means that the upward momentum will soon return after a consolidation phase, where the buyers have accumulated enough energy to push prices higher. I believe the price will continue to rise.
I have shared some valuable insight on today's daily video update Please watch it to get full context on how to navigate market conditions like these