CFD
XAGUSD - SELL (Short) Trading Signal - IntradayI caught the bullish rally, even continued it after.
Bottom call:
Continuation:
Now I'm turning bearish on XAGUSD.
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XAGUSD - SELL (Short) Trading Signal - Intraday
Entry @ Market Price (approx. 17.30)
SL @ 17.65
TP @ 16.80 / 16.50 / 16.15 / 15.80 / 15.50 / 15.25 / 15.00
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As always,
Many pips ahead!
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GOLD bounced from Support/Resistance ZoneBig players made e few false movement yesterday to grapp more "small fish" and to kick off stop losses of most intraday traders.
We can open BUY in marked Zone if the price will make a pullback to it.
Potential profit will be in 3 times bigger than risk.
Don't forget to use proper risk magament!
Euro Stoxx BreakdownEuro Stoxx Index is also showing signs similar to my CAC40 idea (link below). Again, be wary with the Fed tomorrow. Cutting rates, and future rate cuts, means that there will be nowhere to go for yield other than the stock market. Central banks are attempting to keep stocks propped. This is their new mandate: to keep assets propped.
You can see a some what of a double top as Euro Stoxx tried to break out. Failed to and you can see the long wick and large engulfing red candle. We then created a lower high and have broken below a support/ flip zone. A strong break as well.
Looking to the flip zone at the 3415 zone...although be wary of 3437 too. Would expect one more lower high swing.
Gold - Bullish Technical Technically, ascending triangle and trend lines show Gold is still looking on an up trend with bullish indicators. However, fundamentals of Fed Cut could lead to a large reversal, breaking bottom trend line and sinking below $1400. The RSI isn't showing overly overbought or undersold, so there may be some technical support/resistance from a break out either way. Due to the unknown of how the market will react to what the Fed does, I will be either looking for a reversal of the up trend and short, or if it continues on the current trend and does a quick break even higher, continues on higher highs, and lower lows, I will look for RSI overbought conditions and short there.
Corn - Looking Stronger BuyI have been hovering over the buy button on corn past week. Wasn't convinced enough to enter, and now heading back to Fib retracement towards $4. The closer to this the stronger chance of a rally - from either fundamentals coning out due to crop damage and lower yields, and also some technical short closing since last rally. Keeping in mind the August report, there could be some positioning before here too from fund managers, adding to volatility. That said, if crops are seen as doing well, with ample inventories, and no substantial buying even though China tariff waiver, prices could continue the current short term bearish trend and breeze through $4 down to $3.80. RSI already showing oversold on shorterm though with possible technicals support current prices and allow for some upside. Overall still see risk to upside despite last week's drop.