XAUUSD 6/8/2024 Is this rally over?
This past week we have seen a lot of volatile news that has affected the direction of gold prices
With the unstable geopolitical situation causing large fluctuations in gold prices
- Looking at H1 we see a completed ABC corrective wave structure. Following an ABC corrective structure we expect a 5 wave bullish structure. Obviously not excluding the possibility of a complex correction wave then I will update if it happens
- Currently we expect a bearish correction to confirm wave 1 and wave 2 completed and wave 1 and 2 confirmed when price closes above 2365.6
- This current correction we expect a yellow abc wave pattern and target at 2385 price zone or 2377anh price zone
Trading plan
BUY ZONE: 2385 - 2382
SL 2363
TP1: 2393
TP2: 2404
TP3: 2418
SELL ZONE: 2421 - 2424
SL: 2447
TP1: 2408
TP2: 2396
TP3: 2385
Trendanalyisis
[INTRADAY] #BANKNIFTY PE & CE Levels(05/08/2024) Today will be gap down opening in BANKNIFTY. After opening if banknifty start trading below 50950 level then possible downside rally of 400-500 points upto 50550 Level & this rally can can extend another 400 points if market gives breakdown 50450 level in todays session.Any Major upside only expected in case banknifty starts trading above 50550 level.
Today trend gold is bullishToday market open after get 20 Point moves up ISRAIL and HAMAS war and may be gold will move more up because USA also include in war that why Gold may be move up market open around 2438.00 and make high around 2468.00 and Indian time according 6:00 PM HIGH impact news like NFP ( NON FARM PAYROLL ) gold start manipulation to people and my scenario gold will pump more upside but gold break today low 2438.00 and close a candle with strong move definitely we gone for sell in gold.
XAUUSD 1/8/2024 after FOMC news?
Looking at H1, we see that after this morning's FOMC news, we see that XAU has increased to the 2458 zone
- As I analyzed in the previous plan, when the price breaks through the 2402 zone and then tests again and does not fall below this zone, the price will continue the 5-wave trend instead of the 3-wave ABC.
- Regarding the trend, after the price follows the 5-wave model, the next wave target is the 2500 price zone as analyzed before.
- Looking at the present, we see that wave 3 in the blue 5-wave structure is completing, and the price has now started blue wave 4
- Measuring the wave 4 target, we have the price zone of 2433. This will be the price zone we are waiting for as a BUY target
- The target of wave 5 will be specifically determined by me after wave 4 is formed. With the current data, I am expecting wave 5 to end at the price zone of 2500
Trading plan
BUYZONE: 2433 - 2430
SL: 2423
TP1: 2422
TP2: 2450
TP3: 2465
SELL ZONE: 2467 - 2470
SL: 2477
TP1: 2450
TP2: 2422
TP3: 2433
XAUUSD 7/30/2024 How far will the price go?
After the 5-wave downtrend structure, we are witnessing an increase from 2354 to 2402
- So we will have 2 cases either the 5-wave downtrend structure has completed wave C then we have the current increase as a 5-wave structure, case 2 is the 5-wave downtrend structure above has just completed wave 1 in the 5-wave structure of wave C so the current increase is wave 2 and will have an ABC wave structure.
- We will have an important price to confirm that is the price of 2402, both cases need the price to break out through 2402. After the price breaks out through 2402 and the price returns below 2402, then we will lean towards the current situation being just a correction wave 2 in the 5-wave structure of the purple wave C. If the price breaks out through 2418, we will lean towards the possibility that this is a 5-wave increase structure and the possibility that the price will break through the peak of 2433.
So at the 2418 area, this is the current area containing a large amount of supply, which will be a strong resistance level for the price, so when the price touches this area, there will be a reaction, and we will choose this area as the SELL target
Trading plan
SELL ZONE: 2415 -2418
SL: 2425
TP1: 2402
TP2: 2390 TP3: 2374 BUY ZONE: 2357 - 2354 SL: 2347 TP1: 2365 TP2: 2374 TP3: 2382
XAUUSD 7/29/2024 Is the uptrend over?
Looking at H1, we can see that the corrective uptrend may have ended.
- The price will continue to move in a downtrend to complete the purple wave C as shown on the chart.
During the move to the target price zone of wave C, we see that at the 2374 treble line, this is the previous breakout price zone and has not been retested, so there is still a very strong demand force in this price zone.
- We expect the price to bounce back to the 2374 zone, so we will place a BUY order in this zone.
Trading plan
BUY ZONE: 2376 - 2373
SL: 2366
TP1: 2382
TP2: 2400
TP3: 2410
SELL ZONE: 2314 - 2417
SL: 2424
TP1: 2401
TP: 2382
TP3: 2365
XAUUSD 7/26/2024 Is there a pullback?
Looking at H1, we see that the price breaking the 2382.5 zone has confirmed that the price is in the purple wave C
- From the peak of 2433 to the bottom of 2353, we see a small 5-wave structure has been completed and now we see that the bullish recovery wave is continuing, we expect a corrective wave
- The target of the rebound wave I measured at the price zone of 2402 and the price zone of 2411
- So this increase we expect is a rebound wave before the bearish wave continues to the target zone of the purple wave C
- The target of the purple wave C we measured at the zone of 2334 and the zone of 2307
Trading plan
BUY ZONE: 2366 - 2363
SL: 2356
TP1: 2382
TP2: 2394
TP3: 2402
SELL ZONE: 2310 - 2312
SL: 2320 TP1: 2400 TP2: 2390 TP3: 2382
XAUUSD July 24, 2024 Where will the rally go?
As in the previous day's forecast, after the 5-wave trend is the ABC correction wave
- Looking at H1 we can label wave a and wave b as shown on the chart. Currently, we expect wave C to complete so we can enter orders
- Wave C target we measure 2 targets: price range 2420 and price range 2433.
- After completing the next abc correction, it will be a 5-wave pattern following the previous downtrend
Trading plan
SELL ZONE: 2431 - 2435
SL: 2440
TP1: 2411
TP2: 2394
TP3: 2382
BUY ZONE: 2476 - 2471
SL: 2466
TP1: 2382
TP2: 2394
XAUUSD July 23, 2024 Where will the rising wave go?
Looking at the H1 chart, we have a completed 5-wave bearish pattern
- The target of wave 5 has been achieved near the price range of 2382 that I predicted yesterday
- After completing the next wave 5, there will be 2 cases, the first case is that the price continues the 5-wave impulse wave pattern. The second case is the abc bullish correction pattern.
- Regardless of the pattern, we now expect a price increase at least according to the abc correction pattern
- The target of ending the correction wave will be specifically determined when the wave has completed at least 2 waves a and b. Based on current price data, I estimate the target of the correction wave is the price range 2433.
- If this rally gets past 2453 then we will be leaning towards a trend rally to 2500 then I will update everyone.
Trading plan
BUY: 2491 - 2488
SL 2483
TP1: 2420
TP2: 2433
SELL ZONE: 2433 - 2436
SL: 2431
TP1: 2411
TP2: 2494
XAUUSD July 22, 2024 Is the decline over?
The information that President Biden withdrew from running due to his health further confirmed Trump's high chance of winning the election. This information immediately caused XAU to gap up on Monday morning
Looking at H1 we see a sharp sharp decline, this is the ongoing wave 3.
- At the price range of 2394, we have a strong rebound. From this rebound we expect that wave 3 has ended and this rebound is wave 4.
- The target of wave 4 I measured at the price range 2420 or price range 2428
- After completing wave 4, the price continues to decrease to complete the 5-wave pattern
- With the current price data, I can temporarily measure the expected target of wave 5, the last down wave of this downtrend, at the price range of 2382 or the price range of 2366.
- After the end of this price reduction, we expect a strong recovery and I will update the specifics of this recovery after the price completes this 5-wave decline.
- Our trading strategy is to observe price reactions at support and resistance zones to enter orders
JUSTDIAL [for swing]JUSTDIAL This stock Multi-year breakout with high volume spike today getting last movement upper circuit so .. buyer are very aggressive looking .
Price Pattern:
There is a cup and handle pattern forming, with the cup's bottom forming around the 2022-2023 period and the handle forming recently.
The breakout from the handle is a positive sign and could lead to a strong upward move if it holds above the resistance.
Trend Channel:
The descending channel (handle part of the cup and handle) is shown, and the recent breakout from this channel is a bullish signal.
Targets (TRG):
The chart shows two target levels: the first target (1st TRG) around 1400 and the second target (2st TRG) around 1800. These levels can be considered as potential profit-taking points.
Volume Spike:
The green arrow indicating a volume spike suggests increased buying interest. This can be a sign of accumulation, which is bullish.
Swing Trading Points
Entry Point:
A good entry point would be on a pullback to the breakout level, around 1200-1250, which is now a support zone.
Stop Loss:
Place a stop loss below the support zone, around 1150-1180, to limit potential losses if the breakout fails.
First Target (1st TRG):
Aim for the first target around 1400, as indicated on the chart. This level is likely to encounter some resistance.
Second Target (2st TRG):
If the price momentum continues, the second target around 1800 can be considered for additional profits.
Volume Confirmation:
Keep an eye on the volume. A continued increase in volume on upward moves will confirm the strength of the trend.
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XAUUSD on July 18, 2024 continues to wait for the target zone?
Continue with the previous day's plan
- Looking at H1, we have black wave 5 which is an expanding wave.
- In the black wave 5, there is a yellow 5-wave structure and now we have a yellow 4 wave that may have completed.
- From the measured targets for the end of wave 5 of the plans in recent days, we will have the first target at the round number area of 2500
- Currently we wait for the price to reach the target area of 2500 to find conditions to SELL
XAUUSD July 17, 2024 Will the rising wave continue?XAUUSD July 17, 2024 Will the rising wave continue?
The information we received is that Mr. Trump's brother is officially named as the Republican candidate. The fact that Mr. Trump is a bright candidate for the United States is creating conditions for XAU to increase in price because of its policies. In the past, he advocated for reducing interest rates to focus on economic growth.
The information released from the Fed in recent days shows dovishness with announcements that curbing inflation is very effective as well as statements from Fed Chairman Powell also making dovish comments. . This also makes the expectation that interest rate cuts will happen sooner.
Looking at H1, we see that yesterday there was a strong increase, which shows that we are having wave 5 extension.
We are measuring wave 5 and currently have two important target price areas to observe: the 2481.6 area and the 2500 round resistance area.
- At this time we should limit buying because the price is at the peak of the price force. Looking at the RSI, we see that the price momentum is weakening, while the price is still increasing, this signals that the current uptrend has ended. weakening force increased insignificantly
- We have target price zones to find selling points at 2481.6 and 2500.
- We expect the price to have a slight correction and then create a new peak near the 2500 area and the RSI peak will then diverge, which will be a nice sell trade setup. We continue to observe the price in this area to find a Sell down point.
- In the immediate future, we have a target area for the downward correction wave at the price range of 2438.6. When there is more data about the dark price, this target area will be updated
Retailers Exit, Big Money Enters: Time for a Bullish SurgeThe chart is looking bullish for several reasons. Firstly, the RSI (Relative Strength Index) is rising quickly, indicating increasing momentum. Secondly, there's a noticeable uptick in volume, which supports the price movement.
The main reason for my bullish outlook is a simple price action pattern I've observed repeatedly. When the price hits a support level 3-4 times, it often indicates a very strong support. Retail investors typically place their stop-loss orders just below this support line. This pattern is evident in this crypto as well, as marked by the green circle on the chart. The price recently dipped below the support but is now rebounding, which is a bullish signal.
With retail investors shaken out of their positions, they are likely to re-enter once the price moves above the previous support level. Initially, the price may rise slowly towards the support zone, but once it breaks above, significant buying pressure is expected. The large investors who entered at lower prices will drive the price up to the support level, then take profits as retail buying pushes the price higher.
XAUUSD trading plan for week 1, July 2024
Looking at D1, we see that the adjustment process has reached the end of the period
- Unlike impulse waves, corrective waves take a long time and often have complex patterns that are difficult to predict.
- Looking at the current model, I am leaning towards the complex triangle correction model with ABCDE structure in Elliot
- The beauty of Elliot is that there are price levels that confirm whether we are moving in the right direction.
- We have 2 prices that confirm our wave counting
+ If the price level 2284.37 is broken below then our current assumption is no longer correct then our previous assumption that the ABC correction model I mentioned last week will apply
+ If the price level of 2365.7 is broken, the triangle correction model we are predicting will be confirmed.
- So our plan is to wait for the price to break out of the 2365.7 price range and test again to enter a Buy order.
- If the Breakout price drops below 2284.37, then we wait to test again and enter a Sell order. If that happens, I will update.
How will XAUUSD fluctuate after Trump's case?
The failed assassination of presidential candidate Trump increasingly increased his odds of winning the election as well as helping the Republican party hold a large number of seats in the parliament. If the Republican Party prevails in the election, This will promote a reduction in USD interest rates. This is also the reason why XAU has increased in recent days.
Looking at H1:
- The purple 5-wave structure has been completed. This could be the wave 1 structure in a larger wave. and so next will be the corrective wave structure
- Like I said before, corrective waves often take a long time and move complicatedly, we need a lot of follow-up data to shape the corrective structure.
- But for simplicity we can expect a simple ABC structure to observe
- Then we temporarily have the target area for corrective wave C at 2 price areas: 2367.7 and 2349.3.
- The current plan is that we can sell at the price range of 2429 to the price range of 2440 and set the SL at the top of 2440.
XAUUSD July 9, 2024 potential buying point?
Looking at h1 yesterday, we continued to successfully predict the direction of price movement
- Currently, the price is approaching the target area of wave C. As I said yesterday, we need data from waves A and B to be completed to determine the target of wave C.
- Currently, I measure the target of wave C located at 2 price areas 2355 and 2346 price areas. These 2 price items form a narrow area where we can enter a Buy order at this price area.
- If the price breaks through 2339, our current wave counting process is no longer correct, then I will update you again.
Rising Wedge Pattern breakdown in HDFCAMCHDFC ASSET MANAGEMENT COMPANY LTD
Key highlights: 💡⚡
✅On 2 Hour Time Frame Stock Showing Breakdown of Rising Wedge Pattern .
✅Strong bearish Candlestick Form on this timeframe.
✅It can give movement up to the Breakdown target of 3654-.
✅Can Go short in this stock by placing a stop loss above 4317+.
XAUUSD July 8, 2024 Will the rising wave continue?
Nonfarm news last weekend with lower employment data than the previous period caused gold to have a strong increase in price to 2392.2, this price increase may need to continue a correction of wave 4 before completing wave 5. final increase.
Looking at H1 we see
Black wave 5 has exceeded our measured target and approached the 2392 area.
- So the next 5 waves are a correction. The corrective wave is a complex wave that is difficult to specifically identify, but we still take the ABC corrective wave as the standard for price observation.
The specific target of this corrective wave needs to be observed at least as waves A and B complete to be accurate, but from the current data I measure the target of the corrective wave ending at the price range 2363 or 2355.
These are the two price zones I expect to continue buying. We will continue to observe price behavior during the correction wave to more accurately determine the target price zones of the correction wave.
XAUUSD July 5, 2024 waiting for a reasonable buy pointYesterday was Bank Holiday, so low market liquidity led to gold prices sideways in a narrow fluctuation range.
The price targets have not changed from the previous plan, the only difference is that the price has touched the demand zone that we have identified and turned up. This suggests that wave 4 may have completed and The price will continue to increase, completing wave 5
- Today there is news about Nonfarm, if the price continues to compress within this narrow range, then after the news it is possible that the price will complete the wave 5 target and then enter a correction. If the price reaches the target of wave 5 before the news is released, then after the news is released, the price will have a downward correction.
- The target price range that I want to buy is the price range 2339 to 2342. This is the expected price adjustment range after wave 5 completes.
THE RAMCO CEMENTS - SEIZING THE LONG SWING OPPORTUNITYSymbol - RAMCOCEM
Ramco Cements is currently trading at 772
730 - 770 is a good support area for The Ramco Cements.
I'm seeing a trading opportunity on buy side.
Buying Ramco Cement Futures at CMP 772
I will be adding more if 745 comes & hold with SL of 730
Targets I'm expecting are 812 - 845 - 930 & beyond.
Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
Head & Shoulder pattern breakout in PARKHOTELPARK HOTELS LTD
Key highlights: 💡⚡
✅On 1 Day Time Frame Stock Showing Breakout of Head & Shoulder Pattern.
✅Strong Bullish Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 240+.
✅Can Go Long in this Stock by placing a stop loss below 179-.
Downtrend wedge pattern breakout in RPTECHRASHI PERIPHERALS LTD
Key highlights: 💡⚡
✅On 1 Day Time Frame Stock Showing Breakout of Downtrend Wedge Pattern.
✅Strong Bullish Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 472+.
✅Can Go Long in this Stock by placing a stop loss below 327-.