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XAUUSD Analysis until NOV 2nd, Interest rate announcement! 📉 Gold - Bearish - We look to Sell at 1615.08 ▪ The medium-term bias remains bearish. ▪ Following last week's retracement candle, the overall trend is set to continue downside. ▪ A firmer opening is expected to challenge bearish resolve. ▪ Prices are expected to stall near trend line resistance at 1675-1680.50 levels. ▪ We look to sell rallies in the coming weeks or so. -Heavy volatility is expected after the Interest rate announcement on the 2nd of Nov. Confidence: ⭐⭐⭐⭐⭐ ⛔ Stop 1615.08 🎯 Target 1: 1601.70 🎯 Target 2: 1575.30
OANDA:XAUUSDShort
by Tradeshala
RISING TREND - EXPLAINED Education Rising trend line: Rising trend line is the type of trend line which helps a trader to identify the bullish moment or bullish range (Upward Trend). The rising trend line or ascending trend line should be connected from the last lower of the asset value to the last highest value or price of an asset. The rising trend line should have multiple prices touched to be considered as valid, (at least 2 price point touches). Traders may anticipate trading pullback where confirmation come, they can use additional indicators to have clear understanding of right entry point and exit points.
Education
by CELGIB_TRADING
Weekly Outlook : Gold Heading for 1550 levels📉 Gold - Bearish - We look to Sell at 1613.90 ▪ The medium-term bias remains bearish. ▪ Broken out of the triangle formation to the downside. ▪ A mild correction has been posted from yesterday's low, this is seen as a retest of the breakout level. ▪ Support at the levels of 1615 weekly low can be broken. ▪ We prefer to fade into the rally with a tight stop in anticipation of a move back lower. Confidence: ⭐⭐⭐⭐⭐ ⛔ Stop: 1628.57 🎯 Target 1: 1604.22 🎯 Target 2: 1550 Let me know what you think in the comment section:
FX:XAUUSDShort
by Tradeshala
Bank Nifty Trade Plan.Good Morning Everyone, Key levels on Bank Nifty -->Major Supply zone- 41700 - 42000 -->Fib Resistance zone: 41250 -->On Higher Time frames Major Support 39850 level -->If we observe the volumes on recent swing high i.e., 40700 We can consider this as a decent breakout indicating Bullish behavior -->Until we get a Closing below 39850 level market will remain bullish . -->This doesn't mean we can long right now unless you can risk 4000 - 4500 per lot --> Its always better to wait for retracements and buy on those dips. -->From 39850 BNF is in up move when this wave is over in smaller Time frame we shall see a correction then we can go long with small SL. Managing the trade: If the trade goes in our way *Exit half Quantity @1:1 Risk/Reward Target and Shift to SL to cost *Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL. *Exit remaining with trailing Stop loss. *SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY. *NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES ***If you like my analysis let me know by giving boost or a comment. I will be updating.
NSE:BANKNIFTYLong
by Mo-Kri
Gold portrays bullish triangle but $1,643 is the key hurdleGold braces for the second weekly loss but the bears appear hesitant around the yearly low. On the top of that, a bullish triangle formation and nearly oversold RSI suggest that the metal may witness a bounce. Hence, a convergence of the monthly horizontal resistance and the three-week-old descending trend line, forming part of the bullish triangle, around $1,643, gain major attention. Should the metal buyers manage to cross the resistance confluence, an upswing to the 200-SMA level of $1,678 becomes imminent on the way to the theoretical target surrounding the monthly high near $1,700. Alternatively, pullback moves need to defy the triangle formation by breaking the $1,620 support. Even so, the yearly bottom of $1,614-15 could test the bears before directing them to the $1,600 threshold. Following that, April 2020 low and August 2019 top, respectively near $1,572 and $1,557, could entertain the sellers. In a case where the gold price remains weak past $1,557 the year 2020 low of $1,451 will be in focus. Overall, gold sellers are running out of steam but the buyers need a clear break of $1,643 for even a small rebound.
OANDA:XAUUSD
by MTradingGlobal
XAU/USD- Heading to 1500 levels zones.📉 Gold - Bearish - We look to Sell at 1638.90 ▪ The medium-term bias remains bearish. ▪ Broken out of the triangle formation to the downside. ▪ A mild correction has been posted from yesterday's low, this is seen as a retest of the breakout level. ▪ Resistance could prove difficult to break down. ▪ We, therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower. Confidence: ⭐⭐⭐⭐⭐ ⛔ Stop: 1648.57 🎯 Target 1: 1617.22 🎯 Target 2: 1590
FX:XAUUSDShort
by Tradeshala
JSW STEEL ANALYSIS ON DAILY TIME FRAMEGood Evening everyone, JSW STEEL on a Daily time frame formed a triple top pattern. The last one is all time high. -->After creating all time high came down directly and broke the last low before ATH (Horizontal Arrow) -->Observe the price action after that , Price hardly managed to go to 0.618 Fib level (shown on chart) ->Got rejected from that level and formed a lower low & lower high. -->Now this setup looks good for selling with all these confirmations. If there is any small retracement and price came back to 657 -660 levels we can short with a SL of just 30 rs. -->Those who trade options may plan accordingly stop loss levels will be same (690 levels). Managing the trade: If the trade goes in our way *Exit half Quantity @1:1 Risk/Reward Target and Shift to SL to cost *Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL. *Exit remaining with trailing Stop loss. *SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY. *NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES. If you want me to video analysis pls give a boost. If I can get 2000 boosts overall on my profile I will start doing video analysis. Need motivation very badly.
NSE:JSWSTEELShort
by Mo-Kri