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Gold buyers aim for $1,755 ahead of US GDPGold defends the post-Fed rally around a two-week high, also keeping the upside break of the 100-SMA level of $1,725 and the previous resistance line, now support around $1,721. The upside momentum also takes clues from the bullish MACD and RSI signals, not to forget Fed-inspired USD weakness to direct the buyers towards July 08 high near $1,753. Following that, $1,773 and $1,783 may entertain the bulls before directing them to the 78.6% Fibonacci retracement of the June 17 to July 21 downturn, near $1,820. Alternatively, pullback moves may initial aim for the 100-SMA level near $1,725 before challenging the resistance-turned-support of $1,721. However, a fortnight-old horizontal support zone, near $1,699-94, appears a tough nut to crack for metal sellers. Given the bearish MACD signals and the downbeat RSI, not to forget the Fed-led firmer USD, the precious metal is likely to decline further. That said, the yearly low of around $1,680 could offer an intermediate halt during the south run targeting the 61.8% Fibonacci Expansion (FE) of $1,655.
OANDA:XAUUSD
by MTradingGlobal
Regression Channel Linear Regression Line: The line that fits all the data points, in stocks is considered the line where the majority of the price action is distributed. " R Square" value It deviates in the range of 0 to 1, the closer the value to 1, the better it is It defines the Best fit of data. Upper Channel Line: A line that runs parallel to the Linear Regression Line and is usually one or two standard deviations above the Linear Regression Line. Lower Channel Line: This line runs parallel to the Linear Regression Line and is usually one or two standard deviations below the Linear Regression Line. The upper and lower channel lines contain between themselves either 68% of all prices (if 1 standard deviation is used) or 95% of all prices (if 2 standard deviations are used). When prices break outside of the channels, either: Buy or sell opportunities are present. Or the prior trend could be ending. Linear Regression Channel Possible Buy Signal When the price falls below the lower channel line, and a trader expects a continuation of the trend, then a trader might consider it as a buy signal. Linear Regression Channel Possible Sell Signal Selling opportunity lying might occur when prices break above the upper channel line, but a continuation of the trend is expected by the trader. Trend Reversals When a price closes outside of the Linear Regression Channel for periods, this is often interpreted as an early signal that the past price trend may be breaking and a significant reversal might be near.
NSE:NIFTY1!Education
by OK_Rane
EURUSD bears brace for 0.9870 with eyes on FedEURUSD remains pressured around a one-week low as traders prepared for the Fed’s verdict, likely a 0.75% rate hike and Powell’s aggression. That said, the pair’s clear downside break of the 50-SMA directs the quote toward the multi-year low marked earlier in the month around 0.9950. Given the RSI approaches the oversold territory, the pair’s declines past 0.9950 appears less expected. However, the bear’s rejection to step back from 0.9950 could open the doors for the further south-run towards the 61.8% Fibonacci Expansion (FE) of June 27 to July 21 moves, around 0.9870. Meanwhile, recovery remains elusive below the 50-SMA level surrounding 1.0165. Following that the previous weekly top around 1.0275 could gain the EURUSD buyers’ attention. However, a convergence of the 200-SMA and downward sloping resistance line from early June, close to 1.0340, should challenge the bulls. Also acting as the key upside hurdle is the six-week-old horizontal area near 1.0360-65. Overall, EURUSD is likely to decline further towards refreshing the yearly bottom. However, it all depends upon the Fed’s actions. Hence, the trader’s discretion is required.
by MTradingGlobal
EURGBP Trading Plan - 21/Jul/2022Hello Traders, Hope you all are doing good!! I expect EURGBP to go DOWN after finishing this correction. Look for your SELL setups. Please follow me and like if you agree or this idea helps you out in your trading plan. Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management. Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea
Short
by For3xScalper
TATA STEELWait And Watch ?? Look for Low risk, High reward, and High Probability setups- Things to Remember while Trading with the Trend 1. Know what the trend is. 2. The best trades are made in the direction of the trend. 3. Assume that the main trendline or moving average will hold. 4. The longer the moving average is, the better it defines the trend. 5. Wait for the pullback. 6. Don’t chase the market. 7. Don’t fight the market. 8. Even in the strongest trends there should be some retracement. 9. The closer the market is to the trendline, the better the risk/reward ratio is. 10. Use ADX to determine the strength of the trend. 11. Higher the level of ADX , the stronger the trend, below 20 consider the market to be choppy 12. Hold trades longer in a strong trend. 13. Wait for confirmation of a trendline breaking before reversing position. 14. Know where the Support levels are. 15. Place stops outside the Support levels. Thank You..
NSE:TATASTEELLong
by Rvkachhadiya
GBPUSD buyers jostle with key resistance around 1.2030GBPUSD's rebound dribbles around a one-week high while extending Friday’s upside break of a descending resistance line from June 27, now support. The Cable pair’s recovery also takes clues from the firmer RSI and the bullish MACD signals to keep buyers hopeful. However, sustained trading beyond convergence of the 100-SMA and a downward sloping trend line from June 07, around 1.2030, becomes necessary for the bulls to retake control. Should the quote manage to stay firmer past 1.2030, a run-up towards the monthly high near 1.2175 can’t be ruled out. Though, multiple hurdles stay firer to challenge the quote’s upside past 1.2175, a break of which could propel the prices towards the mid-June high near 1.2400. Meanwhile, a weekly support line, close to 1.1990, could challenge the GBPUSD sellers. Following that, the resistance-turned-support from late June and the recently flashed multi-month low, respectively around 1.1820 and 1.1775, will be in focus. It’s worth noting that the pair’s sustained downtrend below 1.1775 could make it vulnerable to slump towards March 2020 bottom close to 1.1400. Overall, GBPUSD recovery pokes the key resistance confluence as traders brace for important UK data, starting with today’s UK employment report.
by MTradingGlobal
ACCWait And Watch ?? Look for Low risk, High reward, and High Probability setups- Things to Remember while Trading with the Trend 1. Know what the trend is. 2. The best trades are made in the direction of the trend. 3. Assume that the main trendline or moving average will hold. 4. The longer the moving average is, the better it defines the trend. 5. Wait for the pullback. 6. Don’t chase the market. 7. Don’t fight the market. 8. Even in the strongest trends there should be some retracement. 9. The closer the market is to the trendline, the better the risk/reward ratio is. 10. Use ADX to determine the strength of the trend. 11. Higher the level of ADX , the stronger the trend, below 20 consider the market to be choppy 12. Hold trades longer in a strong trend. 13. Wait for confirmation of a trendline breaking before reversing position. 14. Know where the Support levels are. 15. Place stops outside the Support levels. Thank You..
NSE:ACCLong
by Rvkachhadiya
HINDUSTAN PETROWait And Watch ?? Look for Low risk, High reward, and High Probability setups- Things to Remember while Trading with the Trend 1. Know what the trend is. 2. The best trades are made in the direction of the trend. 3. Assume that the main trendline or moving average will hold. 4. The longer the moving average is, the better it defines the trend. 5. Wait for the pullback. 6. Don’t chase the market. 7. Don’t fight the market. 8. Even in the strongest trends there should be some retracement. 9. The closer the market is to the trendline, the better the risk/reward ratio is. 10. Use ADX to determine the strength of the trend. 11. Higher the level of ADX , the stronger the trend, below 20 consider the market to be choppy 12. Hold trades longer in a strong trend. 13. Wait for confirmation of a trendline breaking before reversing position. 14. Know where the Support levels are. 15. Place stops outside the Support levels. Thank You..
NSE:HINDPETROLong
by Rvkachhadiya
HDFCWait And Watch ?? Look for Low risk, High reward, and High Probability setups- Things to Remember while Trading with the Trend 1. Know what the trend is. 2. The best trades are made in the direction of the trend. 3. Assume that the main trendline or moving average will hold. 4. The longer the moving average is, the better it defines the trend. 5. Wait for the pullback. 6. Don’t chase the market. 7. Don’t fight the market. 8. Even in the strongest trends there should be some retracement. 9. The closer the market is to the trendline, the better the risk/reward ratio is. 10. Use ADX to determine the strength of the trend. 11. Higher the level of ADX , the stronger the trend, below 20 consider the market to be choppy 12. Hold trades longer in a strong trend. 13. Wait for confirmation of a trendline breaking before reversing position. 14. Know where the Support levels are. 15. Place stops outside the Support levels. Thank You..
HLong
by Rvkachhadiya
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