Time to be neutral about the prospects of DXY. Although the trend was significantly bearish considering the recent blowing up of investors confidence followed by USA midterm elections. Let us now analyze what seems to be adequate possibilities that may follow considering the lack of egalitarian policies as the end of year approaches: 1- We are currently at a...
WTI does not look like a bearish heaven anymore. Reasons include: 1- Dropping Wedge consolidation breakout 2- Bullish bat reversal pattern to bolster the claim to expect higher levels and mark the initiation of a bullish reversal 3- Dovish Feds 4- Increased Demand post-COVID Target: Apparently, the current reversal picture seems like trying to approach triple...
Alright guys, call it USA Midterm Election impact or whatever, but we just had an inverted head and shoulder on silver which calls out for a possible full time bullish reversal on the XAGUSD. The pattern successfully hit the middle and first target zone between 21.9-22.5, tagging a price of 22.05. Now, there are two situations: 1- Retracement occurs and silver...
Alright guys, Mid-term elections are finally over and USD is finally regaining the investors confidence. Right now we will be looking for the short entries for the next week. Here are my reasons to go short and look for selling positions: 1- The Up-channel that we have seen so finely observed and maintained has finally broken so we can deem 1786.53 as the...
We have run across a situation on DXY where we must have one of the two confirmations to side either with bulls or bears. There are two possibilities at the moment: 1- The Bull Flag confirms breaking out of this 112.xx zone we shall have a full on signal to go long to the targets as described in the chart 2- If we break lower than 108.8x zone, we shall then have...
Here is a comprehensive analysis for XAUUSD for the conditions we might see during next week. Last week, we had a rising wedge consolidation breakout coupled with a head and shoulder pattern which turned out be a good reason for a sell-off with target at 1639 (Paid us really well Alhamdulillah). That was two PAs working simultaneously in the breakout zone between...
Silver(xagusd) like gold has broken out of a 2 year long consolidation (accumulation) as well. Now we are looking for lower targets on both metals. Silver can be seen failing to retest the breakout point at 21.5 and therefore, chances are we will see it down. Technical aspects: 1- A rising wedge consolidation and continuation pattern observed on XAGUSD (drawn...
As stated in my previous idea about gold that we were stuck in a consolidation box (Related Ideas). The price broke low from the consolidation box and the first lower Darvas box target was achieved today. Now that the we have confirmation of bearish trend resuming back, we are heading lower back to where the bullish local rally started. We have almost retraced the...
All the description is mentioned on the chart. Best of Luck :-)
I feel the need to explain the behavior of XAUUSD based on historic evidence and trend cycle analysis. - All instruments in the market must undergo an Accumulation-Participation-Distribution cycle and gold is no different. - Each accumulation and distribution is supplemented by a reversal pattern, as you can see in my chart, we have a descending triangle, an...
What a time to live and see in financial markets. XAUUSD has entered a major downtrend extension breaking lower than a 122 weeks support and a major reversal 115 weeks Darvas box (Both occurred at the weekly candle breaking low from 1680). The real bearish cycle begins now! I personally have been selling from the retest of 1990-2000 zone which was around 0.618 of...
Desperate attempts of BOE to support the dying GBP has resulted in the up move within the strong bearish trend on the yellow metal. However, we have seen the possible corrective upward progression in three phases (first, second and third rally). As the financial world awaits the result of NFP this week, we have come across a consolidation zone (Consolidation box)....
I personally do not trade Dow Jones Industrial Average but it does not hurt me at all to guide people who do. Well, bad news guys, the picture on the popular index US30 does not look very appealing to the investors at the moment. FEDs are to blame for the vicious rate hike adventure that is drawing investors away from a very large investment pool such as US30....
As mentioned in my long term analysis previous idea about DXY (Related Idea), I mentioned how there is no major resistance between now and ~120 level. Now, I have come across another clue about why that idea is still valid and we are nowhere close to a major reversal on gaining strength of USD. We recently witnessed a sudden weakness in the strength of USD owing...
Dear traders, as I have already told you in my previous major trend analysis idea (see related ideas) that we have just come across a major reversal on the XAUUSD, our favorite metal. Breaking lower from a 122 weeks Darvas box and 115 major support region between 1680-95, we are not looking for long entries. Although the break and retest of the 1680-95 region...
The $index has been in a bullish continuation trend for over ten years now ever since that reversal Bullish bat pattern completion back in 2011 as an effort to recover USD and US economy from the 2008 recession. We have witnessed some 6 year long price consolidation between 2016 and 2022 (Darvas Box 1) after the price made the first top of the box at 104 back in...
We are at a point in the market where it must decide about the direction of the trend before we could make a decision to either go short or go long. DXY was pounding a yearly high when Flash services PMI came out, not so much in favor of USD, yesterday. Hence, we witnessed a bounce from the yearly high. Now there are two possibilities we must consider before we...
The trend, by far, remains bearish! However, there are certain levels we might wanna keep track of, in order to always have a better idea of possible Gold targets. For now, we see a struggling bullish engulfing on the last daily candle on last Friday (09-02-2020) which might imply to the possible pending correction. In order to look for correction targets we stick...