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Silver (XAGUSD) Breaks Higher & Forms Elliott Wave Bullish SequeSilver (XAGUSD) broke above the previous peak on 2.2.2023 high ($24.62). As a result, it now shows a bullish sequence from 9.1.2022 low favoring further upside. A 100% – 161.8% Fibonacci extension from 9.1.2022 low targets 26.91 – 31.23. Near term, cycle from 3.10.2023 low is in progress as a 5-waves nesting impulse Elliott Wave structure. Up from 3.10.2023 low, wave 1 ended at 22.71 and pullback in wave 2 ended at 22.12. The metal has resumed higher in wave 3 which subdivides into another 5 waves in lesser degree. Up from wave 2, the 1-hour chart below shows wave (i) ended at 23.52 and wave (ii) ended at 22.8. Wave (iii) ended at 24.15, wave (iv) ended at 23.54, and wave (v) ended at 24.19 which completed wave ((i)). Pullback in wave ((ii)) ended at 23.78. The metal extends higher in wave ((iii)) and expected to complete soon. Afterwards, it should pullback in wave ((iv)) in 3, 7, or 11 swing before it resumes higher. Near term, as far as pivot at 23.78 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.
FOREXCOM:XAGUSD
by Elliottwave-Forecast
1
Gold Outlook 3 April 2023Gold traded with choppy price action on Friday as it reach the 1985 price level but failed to sustain a continual move to the upside. With the price breaking the short term bullish trendline, and currently trading at the 1952 level, Gold could continue trading lower to retest the near term support level of 1936, especially if the DXY continues to regain in strength. Look for Gold to continue trading within the wide range of 1936 and 2000 in the medium term.
OANDA:XAUUSDShort
by JinDao_Tai
1
USOIL Longs, Surprise oil output cuts| 3rd April 2023Fundamental Backdrop 1. Saudi Arabia and other OPEC+ oil producers on Sunday announced further oil output cuts of around 1.16 million barrels per day 2. This can cause a bullish run in prices in the long run. Technical Confluences 1. Price near 81.7 resistance 2. Price shot through the support at 72.50 with strong bullish momentum, causing a market gap Idea With the oil cuts in place, we have a strong bullish bias. If price is able to break the resistance at 83.60, we could see price head towards the next resistance at 93.1 NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
TVC:USOILLong
by OlympusLab
Levels discussed during the webinar 30th March30th March DXY consolidating along 102.60, break to the 102 support level NZDUSD: buy 0.6250 SL 20 TP 40 AUDUSD: buy 0.6720 SL 20 TP 40 USDJPY: wait for retrace, buy 132 or 131.80 to 133 TP 100 SL 30 GBPUSD: no trade, look for price to test 1.24 EURUSD: buy 1.0870 SL 20 TP 50 USDCHF: sell down 0.9160 SL 20 TP 55 (hesitation at 0.9140) USDCAD: further downside, sell 1.3535 SL 40 TP 80 GBPCHF : Sell 1.1330 SL 30 TP 60 GOLD: no trade, chill (buy 1980, up towards 2000 SL 1975)
TVC:DXY
by JinDao_Tai
1
Gold Outlook 30th March 2023Similar to the DXY, Gold has been trading with no clear directional bias with the price fluctuating along the 1965 price level Anticipating further downside on the DXY and as Gold maintains supported by the upward trendline, look out for a possible breakout to the upside. A confirmation of the move to the upside would be signaled if the price breaks above 1980, but the key resistance level of 2000 is likely to hold strong. However, anticipate choppy price action as the market adopts a risk-on sentiment, which is likely to lead to some shift away from Gold.
OANDA:XAUUSDLong
by JinDao_Tai
Gold Outlook 29 March 2023Gold continues to trade with no clear directional bias as the 1970 resistance level continues to limit significant upward moves. As the DXY consolidates between 102 and 102.50, Gold is likely to maintain within the current range of 1936 and 1970. Although the longer term view of the US Dollar is for further weakness, the current retracement on the DXY is presenting some downside potential for Gold. Look for Gold to trade down to the 1936 key support level in the short term.
OANDA:XAUUSDShort
by JinDao_Tai
USO (CRUDE) Bullish Bounce... something is up!Previously, it was observed and expected that Crude was to bounce. Instead, Crude made a dive down and out of the boxed range. For a moment, took a second take on the analysis and decided that it might have been a bit before its time, since the longer term pointed to two trends; crude to go up and USD to go down. So, a chance came when USO triggered twice in the 15min chart ( system alerts set based on 15min intraday chart as a personal standard ). It was a calculated risk and probability count. USO/Crude had oversold, bounced off a couple of times, and broke our of a short term trend line. The Daily chart had a range breakdown, followed by long tails for the previous three days. It appeared to have a good probability of recovering. A position was taken (USO 50 delta Call). From there, we can observe the volatility (and hence you prefer to be in earlier and smaller position) and the development of the trade in the daily chart shows the opening of gap ups and closing of gap downs. Furthermore, USO / Crude broke back into the range. And for such failures that recover and break back into range (orange and/or yellow box), there is a high probability of breaking out the other end. And yet other observations have the Fibonacci retracement bounce off the 50% to project a near term target of about 65.68 (150%). All these are encouraged by the previous day's candlestick as Monday's candle gapped up and closed a previous gap down, and ended the day very near to intraday high. Daily technical indicators (MACD and VolDiv) have crossed over and are starting a bullish alignment.(Noted that the breakdown out of the range did have a VolDiv bullish divergence that was very obvious, an early suggesting that it was going to bounce and recover. Going forward, USO is starting to be overbought, and a possible pullback to head up further to near term target is expected. Could be more bullish or otherwise more bearish. but am expecting the range support to hold better this time.
AMEX:USOLong
by Auguraltrader
Gold Outlook 28 March 2023The double top chart pattern discussed yesterday on the H4 and H1 timeframe worked out nicely as Gold broke below 1970 to trade down, pausing at the 1945 price level. Although the price retraced slightly higher, Gold is likely to continue trading within the wide range of 1936 and 2000 (1970 the mid way mark), with the key resistance level proving very hard to break beyond. Only a significant move on the DXY could see Gold develop a stronger directional bias, with a move to the upside the more likely scenario. In the short term, look for the price to retest the 2000 key resistance level.
OANDA:XAUUSDLong
by JinDao_Tai
Gold Outlook 27 March 2023On the H4 timeframe, Gold forms a double top chart pattern (20th March & 24th March) as the 2000 level holds strong resisting further upside moves. On the H1 timeframe, a similar double-top formation is formed on the 24h of March. It is likely that the recent strength of the DXY and the formation of these chart patterns led to Gold trading lower, to the 1970 price level. If the price of Gold breaks below 1970, this would not only signal a confirmation of the double-top formation on the H4 timeframe, it could indicate further downside for Gold, with the next support level at 1936. However, while the uptrend on Gold is still strong, in the longer term , look for potential buying opportunities.
OANDA:XAUUSDShort
by JinDao_Tai
1
USOIL OUTLOOK (27th - 31st March)With central banks having to promise they would deal with the liquidity crisis that is apparently everywhere and avoid another 2008-style meltdown of the industry. Crude oil prices came off their lows as the near-term outlook for the banking sector improved, easing concerns about an economic slowdown later in the year. Markets are also holding out for more cues from an OPEC+ meeting next month, with hopes that the cartel will cut production in response to a recent tumble in prices. Oil has failed to break supply at 70.11 for the past three days which price is likely suggesting the efforts to convince the public that all will be well are not exactly being successful. If price fails to break and close above 70.11-70.34 range I see selling opportunity towards major support at 66.85 if broken would see price tap into demand at 66.33-64.31 range where there could be possible reversal or a continuation.
TVC:USOIL
by Hybe7e
1
Gold Outlook 24 March 2023Gold approaches 2000 again. But it looks like Gold could reject 2000 again. The last time when Gold reach the 2000 level (and breached it slightly by forming a new high of 2008) the price retraced down to the 61.8% fib level, which was 1940 price area. A confirmation of a stronger retracement to the downside would be signaled if the price trades below the 1977 price level which coincides with the 38.2% Fibonacci retracement level. However, anticipating further downside for the DXY, it is likely that Gold could continue with the uptrend. Therefore, look for buying opportunities on retracements of Gold, with the key resistance levels at 2000 and 2070
OANDA:XAUUSD
by JinDao_Tai
easyMarkets Gold 4-hour - Quick Technical OverviewAfter a sharp decline on Tuesday, Gold is now balancing slightly above our 38,2% retracement on the Fibonacci. Given that we have the Fed rate announcement on Wednesday evening, we will take a cautious approach and wait for the decision first, before getting comfortable with either of the short-term directional moves. From the technical perspective, a break below the 1935 zone may invite a few more sellers into the game, possibly clearing the way towards the 1915 area, or even the 50,0% retracement. However, to get comfortable with the upside scenario, we prefer to take a conservative approach and wait for a move back above the 1960 hurdle first. This way, the path towards the psychological 2000 area could opened once again. Disclaimer: easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
EASYMARKETS:XAUUSD
by easyMarkets
Gold Outlook 22 March 2023Gold retraced strongly following the move to the 2000 price level. Forming a head and shoulder pattern, Gold traded down to the 1938 price level which coincides with the 61.8% Fibonacci retracement price level The next directional move on Gold is going to be highly dependent on the volatility of the DXY, especially with the FOMC interest rate decision due. In the short term, if the price breaks below 1933 (the 61.8% fib level), gold could continue trading lower, down to the key support level of 1914. However, in the medium term, anticipating further DXY weakness, look for Gold to bounce either at the fib level or the 1914 support level to continue with the uptrend to retest the 2000 price level again.
OANDA:XAUUSDLong
by JinDao_Tai
2
Levels discussed during the webinar 21st March21st March (might not be alot of trading opportunities) DXY consolidating possible breakout down to 103 NZDUSD: too late, no trade AUDUSD: buy above 0.67 SL 20 TP 20 (small trade) USDJPY: break 131.50 SL 40 TP 80 GBPUSD: retrace down to 1.22 EURUSD: likely to up to 1.0760 but not great RR trade USDCHF: sell below 0.9280 SL 20 TP 40 USDCAD: watch video for the setup with upside & downside potential GBPJPY: buy from bounce of support 159.00 SL 50 TP 300 GOLD: retest of support, look for buying potential
TVC:DXY
by JinDao_Tai
1
Gold Outlook 21 March 2023During the trading session yesterday, Gold broke above the round number level of 2000 to reach a high of 2009.55. However, the move higher was brief as Gold quickly retraced to consolidate along the 1982 price level. Further upside is anticipated for Gold if the price stays above the support level of 1960 which coincides with the 38.20% Fibonacci retracement level and the bullish trendline. However, before the price trades higher, Gold price could consolidate/retrace first. In addition, an upward move in Gold could require either further downside on the DXY or increasing market uncertainty, driving investors toward the safe haven commodity. If the price breaks above the recent high, the next key resistance level is at 2070.
OANDA:XAUUSDLong
by JinDao_Tai
Gold Outlook 20th March 2023Gold traded significantly higher last week, due to several key events; 1) gross market uncertainty increased as banks collapse (SVB and Credit Suisse). 2) flight toward the reserve commodity 3) weakness in the DXY Currently, the price is retracing and is trading along the 1973 price level, with further downside expected. The price is likely to test the support level of 1956 which sits between the 23.60% and 38.20% Fibonacci retracement levels. However, as the uptrend of Gold remains strong, anticipate the retracement to be brief with the price likely to rebound from the support to trade higher again. The next key resistance level is at the round number level of 2,000 which was last visited in April 2022
OANDA:XAUUSDLong
by JinDao_Tai
2
🥇Gold🥇 Analyze [Road Map!!!🗺️(03/19/2023)]Hi everyone, today I want to update the 🗺️Gold road map🗺️. It is better to look at the previous roadmap that I published on Feb 7 in the 8-hour time frame. (Gold is moving ✅well,✅ according to the analysis).👇 Now we have to look for the end of the main wave 5.🧐 The end of wave 5 will most likely be in the 🔴resistance zone($2,114.9-$2,062.7)🔴 and 🟡Time Reversal Zone(TRZ)🟡. Of course, according to the fundamental news, Gold seems to touch the resistance zone and resistance line easily. Gold Analyze ( XAUUSD ), Daily Time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe
OANDA:XAUUSD
by pejman_zwin
2