As it can be seen in the chart we have a high positive correlation between gold prices and Barrick Gold Corporation as they move together. Previously as stock prices formed a new high gold price failed to do so and this represents a bearish divergence between prices and caused stock price to move lower sharply while gold price remained roughly around the prices...
Hi Traders! A symmetrical triangle is forming on the USOIL 1D chart, and we could have a breakout soon. Here are the details: The market has found support and resistance at both the trendline support and trendline resistance of the triangle, as the market is looking for a direction. Looking at the price action, it looks bullish due to the market swings; the...
Hi Traders! There is some bullish momentum behind GBPUSD, and there may be a possibility of a re-test of the monthly high. Here are the details: The price action on the 1D chart looks bullish. The market is in an ascending price channel with higher market swings and lower rejection price wicks; the market is also currently above the 20 EMA. Preferred...
Hello traders! It's great to be back with my first post of the year. Today, let's dive into $NSE:AARTIIND. Here's the breakdown: 📉 Directional Shift: The stock is transitioning from a downward to an upward trajectory, signaling a potential change in trend. 📈 Retesting Support: After reaching its previous peak, AARTIIND is retracing to test the support...
Hi Traders! EURUSD has had double price rejection at the resistance, and there are shorting opportunities near the resistance to target support levels below. Here are the details: There is double price rejection at the 1.09986 level, which tells us that bearish demand is currently too strong in this area. We are looking for a momentum price break and a close...
Hi Traders! SPX looks to have fallen short of the record high, and there could potentially be a big pullback that is about to occur. Here are the details: There is an evening star candle pattern currently on the 1W chart, and this is the first week the market's weekly open price has opened substantially lower than the previous week's closing price in about 8...
Introduction to Bitcoin Futures Bitcoin Futures represent a significant intersection of traditional financial markets and the innovative world of cryptocurrencies. They allow traders to speculate on the future price of Bitcoin, providing a way to hedge against price volatility or to profit from price movements. As we step into 2024, the potential approval of...
Hi Traders! USDJPY is under more pressure as we head into the final trading days of the year. Here are the details: The price action here on the 4H chart is extremely bearish. The 20 EMA has been broken, the market swings are getting lower and lower without any bullish pullbacks suggests that there are hardly any bulls in the market at this current time. We...
hello new friends , please feel free to ask any question in comment . @ anyways this is A+ set up .Every time that STRONG trend , and the market already Break the sctructure ! and you pull your fibs to by at discount price is always the ideal . 1 4h fair value gap that needs to e filled before the continuation to down side heavy ! some people call fair value...
Hi Traders! EURUSD continues its bearish outlook as the market is now in a descending channel. Here are the details: After the double top on the higher timeframe idea (see link below), the market looks to have run out of steam to break the resistance level, which provides additional opportunities for short entries to target the support level at 1.08860. We are...
SPY's Bullish Surge: Decoding Market Indicators and Gaps The SPY is riding a bullish wave, scaling new heights with remarkable momentum. On my chart, three proprietary indicators are at play, offering unique insights into the market's pulse. Particularly noteworthy is the indicator that measures cycle direction strength across time frames. Currently, it signals...
Hi Traders! AUDUSD is in a descending triangle, and there is a possibility of a break below the trendline support. Here are the details: The market is trending down with swings of lower highs and lower lows following the break and close below the 20 EMA. Our idea is to sell rallies, looking for a break below the support trendline and exit at 0.64924. Preferred...
Shipping can be used a leading indicator to gauge where the market as a whole is going. Just like the XHB the home building chart, I don't trade this. I only use it a guide to get a into the drivers of the market. If shipping is up, then the markets will follow, is building up, so too will the market. As we can see, shipping made a low last year in September and...
Hi Traders! GBPUSD continues its bearish outlook, and further downside momentum looks very likely. Here are the details: The market is trending down, with longer swings consisting of lower highs and lower lows. The previous support level of 1.26034 has been broken, and the market may go back to below the 1.25000 level. Preferred Direction: Sell Entry Level:...
The AMEX:SPY is exhibiting a compelling technical formation on its weekly chart. A classic cup and handle pattern has emerged, signalling a potential bullish breakout. The cup and handle pattern observed over the past several months on the AMEX:SPY not only signals a bullish continuation following a period of consolidation but also aligns with the current...
Brent Crude Oil Forecast 🛢️ TVC:UKOIL Recent sessions saw a surge in Brent crude futures, hitting the top of a descending channel and undergoing huge correction currently. This paves the way for potential fall from 82.00 to 80 then 79. The bearish trend remains strong as price got rejected from the 100-day moving average (4H timeframe). A break above 83 could...
Greetings, fellow traders! Today, our focus is on the NSE:NIFTY index. Here's the breakdown: 📈 Upward Movement: The index has been on an upward trajectory, recently approaching the 200-day moving average. 🚨 Near Resistance: However, it's currently near a significant resistance level, suggesting potential selling pressure. 💡 Short Selling Opportunity: ...
Traders, It has been an amazingly bullish last couple of weeks both in the stonk world and in cryptos. In this video I cover what has occurred from a technical basis and what I think the charts are now showing us. In short, stonks look to continue their upward trends but crypto is less certain. I also wanted to explain why I went short on a few trades. What was I...