Author: fxanalyst

Hello everyone,

What are your thoughts on gold prices? Let’s discuss and strategize together today!

Looking back at last week, despite facing strong profit-taking pressure after reaching a new record high, gold demonstrated its resilience and ended the week around $30 higher than the previous week’s close. As of early Monday, it is trading near 2733 and performing well within an upward channel on the 1-hour chart.

Key factors impacting gold this week: Gold prices are expected to experience significant volatility this week as the market anticipates several crucial data releases, including the U.S. jobs report on Friday morning. Currently, economists predict 140,000 new jobs for September, a notable decrease from August’s 254,000. Investors are also watching for Q3 growth data, pending home sales, the Bank of Japan’s monetary policy decision, core PCE index, personal income and spending for September, and weekly jobless claims. These data points will provide investors with more clues about the Federal Reserve’s future monetary policy direction, which could impact gold’s trajectory.

Outlook for XAUUSD: On the 1-hour chart, as Ben mentioned earlier, XAUUSD currently has strong support around the 2725 level. A break below this level could lead to a significant price drop, while maintaining it would support further gains. Upon close observation, it’s evident that the pair is gaining upward momentum from the trendline, and a recently opened gap has bolstered buying sentiment. If the upward momentum continues, the next resistance targets for XAUUSD are 2747 and 2758.

Hello traders!

Apex M30 Analysis, Current Price $2732

Buy Opportunity:
Targeting the 2750 zone from the 2730-33 level.

Selling Opportunity:
If ATH Doesn’t breaks and we see a powerful rejection there we could consider a big selling till
$2715

Market Structure:
Overall bullish trend, indicating potential upward movement.

Upcoming Events:
NFP report is on the horizon, which could introduce market volatility.

i’ll keep update this idea!

At the start of the week, gold has quickly regained its upward momentum, aiming for new highs. Currently, the precious metal is trading around $2,731, with the bulls firmly in control of the market.

On Friday, gold saw an influx of buying interest, which slightly eroded the previous day’s gains as the USD weakened. This shift was supported by expectations of a less aggressive easing policy from the Federal Reserve.

Additionally, a generally positive tone in the stock market has somewhat dampened demand for this safe-haven asset. However, ongoing political uncertainty in the U.S. ahead of the November 5 presidential election, persistent geopolitical risks from ongoing conflicts in the Middle East, and further declines in U.S. Treasury yields are providing solid support for gold prices.

XAU / USD trend forecast October 28, 2024

Gold price (XAU/USD) starts the new week with a slight bearish gap, unable to sustain Friday’s gains near $2,750. Persistent USD strength, supported by rising US Treasury yields and expectations of smaller Fed rate cuts, puts pressure on the metal. A positive risk sentiment also adds to the downward pull.

However, safe-haven demand from Middle East tensions and US election uncertainty limits further downside for gold. Traders may remain cautious and hold off on strong bearish positions ahead of key US data this week, including Q3 GDP, the PCE Price Index, and the Nonfarm Payrolls report.

On Monday, gold price moved sideways within 2 trendlines, waiting for NF news fluctuations this week.

/// SELL XAU : zone 2743-2746

SL: 2751

TP: 50 – 200 – 300 pips (2716)

Safe and profitable trading

I remember we traded Floki Inu successfully on the bullish side, it was a nice ride, do you remember? Market conditions have changed.

Notice the huge green candles in February 2024, these are about to be reversed; the mirror image. The same that happened in February 2024 as bullish you will see now as bearish.

Floki Inu (FLOKIUSDT) peaked in March 2024. It produced a higher high in June as part of an irregular correction, it has been moving down since.

A major low was hit in early August and after more than 80 days of sideways there is no signification bullish action, which tells us that we are seeing a bearish consolidation phase; Floki Inu is now in distribution.

The highest buy volume came in March. After March, the biggest volume bars are red. Mostly selling, selling pressure and lower prices; a crash comes next.

The two main support levels are mapped on the chart. It will be epic. If you are still holding this pair, RUN!

Namaste.

Raydium.

Higher 24H Fees Generated Than ETH

800M Mcap, 1.6b FDV

Breakout against BTC..

Nobody uses Jupiter.. Raydium is where it’s at..

Pump.Fun is the real catalyst for this bull run, and Raydium is the LP they’ve partnered with..

It’s not just a DEX…Raydium grants you , with no experience, and no money.. the power to create your own currency celebrating your overweight cat.. and give people something to believe in.

But it also allows people to create communities around things that matter.. community is the new narrative. People believing in something is the spark of this new movement.

Doge was the first crypto example..

GME and AMC were the first trad fi examples ..

Then came the OG memes DOGE, SHIB…

The space grew to other chains..

PEPE.. BOME… WIF…

Then .. bang. Tweets are being tokenized. Videos are being tokenized..

The merge is happening, between media and money… And it’s Raydium at the center of it

Raydium is the pick. Just buy it and don’t think about it until end of 2025. Initial target, depth of the cup.. 700ish% against BTC (while btc is breaking out we’re assuming).. so 20x in USD more or less.

I think a true disaster will happen here. It seems that the biggest damage will happen to the memecoins side of the market, based on what I am seeing coming from the charts.

Here we are looking at Bonk. You know, a major crash leads to a very strong rise when market conditions switch from bearish to bullish, we’ve seen this in the past. These memecoins grew really strong and the same also works in reverse. A major rise tend to produce a very strong correction and since there hasn’t been much for this pair in comparison to recent growth, a major market flush can cause real damage.

Ok, what is the chart saying?
My name is Bonk, James Bonk…

BONKUSDT can easily lose ~50%. This would be level 1.
But there is also level 2 and level 3.

Level 2 would mean a 85% drop from current prices and level 3 a 95% drop.

Level 1 support can be tested easily, that would be -50% for BONKUSDT. The other two, I don’t know, but the market has been consolidation for many months for a major drop. If level 1 breaks, prepare for the worst.

Namaste.

We are looking at one of the Solana projects, Jupiter, a decentralized exchange. Its trading pair, JUPUSDT, peaked in April 2024 and has been bearish since.

Will the market crash start this weekend or will it wait for Monday?
The truth is that the crash already started… We can see the first major red candle 25-October for JUPUSDT.

The upper-boundary of this wide descending channel has been challenged four times, without exception, each time there is a major correction. The forth time happened just three days ago and a major rejection, with strong bearish pressure, is already in.

How far low can it go?

Seeing how each correction recovered swiftly, can we expect the same? No!

The previous corrections were part of a bearish consolidation, the next drop is the bearish impulse so we should be preparing for the lowest possible. This is marked orange on the chart.

This is a friendly reminder.

Thank you for reading.

Namaste.

Look at this chart and tell, what do you see?

SEIUSDT first peaked in March and as soon as it moved below support, a drop was confirmed. This drop led to SEIUSDT reaching the lowest prices since November 2023.

In late September we have another peak and this peak is a lower high compared to March, the action already moved below support so the bearish bias is fully confirmed. This move below support can lead to another drop, a major drop and this drop can produce a lower low because it is happening from a lower high. The lower high is September 2024 vs March 2024. The lower low will be October/November 2024 vs August 2024.

And there you have it. A friendly warning. Good timing, the last time to sell before the drop.

Protect your capital, do whatever you need to do to have money on hand to be able to buy when prices are low.

The Cryptocurrency market is about to enter a fire sale, the lowest prices in years and this is good to buy and hold. We will have the last chance to see Crypto trading low before the bull-market of 2025.

It is both good and bad. It is bad because it is going down and some people are going to lose money because they are not reading this. It is good because there will be lower prices, new opportunities and many new people will join and participate in the market. It is also good because the correction phase will end and we will enter a major bull-market phase.

So it is good and good. Good because the correction will be over and good because it is the start of the bull-market, we are now only weeks away.

One final drop and we can focus on growth long-term.

Thank you for reading.

Namaste.

looks like audcad has come to retest the 0.91650 support level for the fourth time with a good chance of a breakthrough towards the downside, although there is some rejection on the 1 hour time frame meaning some pullback, but on the daily time frame we could see break through the downside as volume seems promising