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Macddivergence

XAUUSD Technical Analysis, Scenario 1 and Scenario 2DISCLAIMER : Take at your own risk . Past results does not reflect future results. Please use PROPER MONEY MANAGEMENT. IF IN DOUBT, GET OUT. OANDA:XAUUSD Analysis: Daily TF: Daily Trend is an UPTREND and is above 50 MA. Previous Day Candle is Spinning Top, Market is in tug of war, no clear indication of where it will go. Daily Fib indicates that it hit and area where BULLS would potentially push the market up. Price Action hit "Daily Support 1" which was tested Aug/23/2011 and Sep/06/2011 where in both occasions the BEARS pushed the market down. There was previous consolidation from Jul/08/2020 to Jul/17/2020 in the range of 1787.60 to 1814.80 in which the BULLS pushed the market up after Jul/17/2020. This area is now a Price Reversal Zone which means that if BEARS take the price to this levels, potentially BULLS will resist and push the market up. 4H TF: 4H Trend is starting to look like a DOWNTREND and is below 50 MA. 4H Fib is showing that it hit an area where Bears would potentially push the market down further. However, there is potential Divergence in this 4H TF as the slow line (MACD LINE) is curving and histogram is showing a slowed momentum from BEARS. 1H TF: 1H Trend is a DOWNTREND, is below 50 MA and approaching the 50 MA curve. 1H TF has a Bullish Pennant Flag with a Flat Top. This indicates that BULLS are pushing the market up to a certain extent before the BEARS take over with lower volume. Breakout Strategy: Scenario 1: BULLS push market up, Buy Stop: Entry: 1950.50, SL: 1929.20, TP3: 12035.90, TP2: 1979.90, TP1: 1959.00 Scenario 2: BEARS push market down, Sell Stop: Entry: 1906.00, SL: 1934.50, TP3: 1807.00, TP2: 1845.70, TP1: 1884.00 These values are from my own analysis. You can move SL around to what you are comfortable with. Use proper Money Management. Beginners to note XAUUSD is per tick not per pip, so 1 tick is 0.01 for lot size 0.01. If you don't have proper management, don't take this trade. IF YOU IN DOUBT, GET OUT.
OANDA:XAUUSD
by TrueChampionMindset
1
BTCUSD 8/6 UPDATEGaining strength after showing weakness/neutral trading up until the cross-section. Ichimoku is not pictured here to keep things cleaner, but it is supported and well above the cloud on the hour. Although I'm bullish long-term (duh), I think it's likely this will be a short lasted upward move into rejection territory, followed by the fall to the first support level. I'm cautiously bullish and don't plan to add to position unless there's a clear dip. It's my opinion that we may see a "flash" crash or the like caused by quick drop in RSI and/or divergence on chart. Likely in tandem with bounce expected in USD and greed from weak hands/dumb money. How do you all foresee today and the rest of the week going? How long till we fill the CME gaps below 10k if ever? Cheers, Drew
BITSTAMP:BTCUSDLong
by UnknownUnicorn7080344
BTE crossing under 50 SMA, MACD and RSI pessimisticHello Traders! The price of BTE looks like it's about to cross under the 50 SMA (sell signal). Combined with a pessimistic looking MACD and RSI, and a bearish MACD-divergence, we have reason to believe that the price is going to drop to the 0.35 support/resistance. In case the price crosses under the 100 SMA as well, it might even drop to 0.1993, but the SMAs didn't act as significant supports or resistances in the recent past, so the momentum gain from crossing the 100 SMA will probably be small. VF Investment cannot be held responsible for any financial damages suffered from following our well-funded but personal opinions and trading ideas. Please, maintain proper position sizing and risk management!
NYSE:BTEShort
by vf_investment
EURGBP may rise to previous high???Good Afternoon Traders, The EURGBP may rise following the current draw-back. It appears the pair may enter an area of consolidation while the market tries to figure out exactly what it wants to do. The commodity backed currencies are causing turmoil to the EUR, USD, CHF, JPY, and GBP with the recent bullish expectations from investors. From a technical viewpoint, Hidden Bullish Divergence is forming on the 16H MACD/Price Chart. Price was rejected at the 50-EMA for 3 consecutive candles on the 16H. A look at the 3H confirms the formation of Hidden Bullish Divergence on a short-timeframe so the 16H is likely to follow. Also on the 3H, RSI is hovering around Oversold territory and has some room to rise. Price may rise to the previous high around .9012 and consolidate further back down from there. Price looks to form higher-lows but the price may stagnate around the previous high (.9012). Thanks for reading. If you liked my analysis, please give me a follow. *The above is not investment advice but simply my analysis of the current market conditions*
Long
by pofseur
USDMXN to continue downwards??Hello Traders, The USDMXN appears to be continuing its downward movement following a short move upward. Hidden Bearish Divergence is forming on the 12H MACD/Price Chart. RSI has just moved out of OVERSOLD territory on the 12H as well. On the 3H, price is being rejected off the 50-EMA and Hidden Bearish Divergence is also forming on the MACD/Price Chart. Thanks for reading. If you liked my analysis, please give me a follow. *The above is not investment advice but simply my analysis of the current market conditions*
Short
by pofseur
Will the Loonie rally continue??Hello Traders, The USDCAD looks to continue its move lower with upcoming employment numbers out of the US and Canada. The USD has been weak with the world economy re-opening and it appears this trend is going to continue. From a technical viewpoint, Hidden Bearish Divergence is forming on the 4H MACD/Price Chart. On the 2H, the Hidden Bearish Divergence has already formed. From a Daily perspective, the price was rejected off the 240-LMA on the prior candle. I will be watching the Daily chart to see if the price is rejected at the 240-LMA again later this evening. Thanks for reading. If you liked my analysis, please give me a follow. *The above is not investment advice but simply my analysis of the current market conditions*
Short
by pofseur
Will the EURCHF start to weaken??Hello Traders, The EURCHF may be ready to pull-back. I anticipate a dovish tone at the upcoming ECB Monetary Policy Statement that may be the catalyst to cause a pull-back in the Euro. It is also possible this may cause some traders to take profits on their recent gains. From a technical viewpoint, the pair has hit a relatively strong resistance point on the 1W. The price just bounced off the 50-EMA on the 1W as well. On the 8H, Bearish Divergence is forming on the MACD Price Chart and RSI is in Overbought territory. On a short-term basis (1M), Hidden Bearish Divergence is forming on the MACD/Price Chart which may be a signal of an ongoing pull-back. Thanks for reading. If you liked my analysis, please give me a follow. *The above is not investment advice but simply my analysis of the current market conditions*
Short
by pofseur
1
EURUSD may begin to pull-back?Good Evening Traders, I am not big on looking for trend reversals or draw back trades, but the EURUSD may be setting up for a significant correction. I believe the ECB rate decision and following press conference will be the catalyst that begins the draw-back. It appears almost certain the ECB will provide additional relief and stimulus relating to COVID-19. The question is exactly when this occurs and is announced. I anticipate the press conference having a more dovish tone due to this. From a technical view, MACD is beginning to diverge from the Price Chart on the 8H. Price has blown by previous Bearish Divergence signals, but price appears to be at a stronger resistance and the current momentum may be slowing due to the upcoming rate decision. On the RSI, a double top is forming on the 8H in Oversold territory. Last time we saw a double top on the 8H in Oversold territory was at the beginning of March prior to the major sell-off that occurred. I do not believe the current sell-off would be nearly as significant, but we are seeing the same signals. On the 3H, Bearish Divergence was confirmed on the MACD/Price Chart so the 8H is likely to follow suit. Thanks for reading. If you liked my analysis, please give me a follow. *The above is not investment advice but simply my analysis of the current market conditions*
Short
by pofseur
1