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XAUUSD trading plan on January 3, 2024. The market waits for theThe S&P U.S. Global Manufacturing Purchasing Managers' Index (PMI) for December fell below investor expectations on Tuesday, sliding to a four-month low of 47.9 vs. The forecast level is stable at 48.2 from November. Market appetite is distorted by erroneous data and investors are starting to temper expectations for interest rate cuts from the US Federal Reserve (Fed), with average expectations of The market is pricing in about 150 basis points of interest rate cuts through the end of the year. This is in stark contrast to the dot chart of Fed interest rate expectations, which currently shows a maximum rate cut of 75 basis points through 2024. Market sentiment will be buoyant this week as the first 2024 US Nonfarm Payrolls (NFP) print is expected on Friday. December's NFP is expected to show a slight decline in US job additions from 199K to 168K. NFP watchers will have to weather the mid-week crunch, with ISM Manufacturing and the latest Fed Minutes released on Wednesday, followed by ADP Employment Change and Initial Jobless Claims on Thursday in the week ending December 29.
OANDA:XAUUSDShort
by NicoTradingMaster
It is expected that GBPUSD will decrease graduallyThe pair even broke the 100 simple moving average (red, 4-hours). The next major support lies at 1.2610 or the 200 simple moving average (green, 4-hours). A downside break below the 1.2600 zone could trigger an extended decline. The next major support is 1.2520, below which the pair could decline and test the 1.2450 level. Any further losses could push the pair towards the 1.2300 zone. On the upside, immediate resistance is near the 1.2680 level. The next key resistance is near the 1.2720 level. A close above the 1.2720 zone could open up more upside opportunities. The next stop for the bulls could be 1.2800.
Short
by NicoTradingMaster
BBCA on HnSBBCA is now forming a Head and Shoulder pattern. Supporting the gap on 7625, the possible scenario is this stock will drop to that area before it makes a turnover. Investors are to expect around -12% (Calculated from today's -6th Feb 2023- price) and traders could be taking this chance to short the stock while it drops. If you are looking to invest in this stock and you haven't put your money into it, better put it on hold because "Sell on May" is gonna be real this year. Prepare to buy the dip. SVA, February 6, 2023
IDX:BBCA
by Sai_Arathi
Bull Trap Ahead!! Max pain incoming...In trading, a bull trap is a situation where a trader (beginner) buys an asset believing its price will continue to rise, only to see it fall sharply soon after. If you inspect the SPX chart by yourself, you'll see: 1- lack of increasing volume 2- absence of momentum 3- lack of definite/sufficient trend break 4- retesting of resistance level (Major downward trendline) 5- sus bullish candlesticks 6- last but not the least, the VIX is at the zone where the market always reverse to the downside. This is just a prime short entry in my opinion. Overall, the macro market conditions still didn't improve that much. Ofc there is a chance it breaks up, however, the odds of this being a bull trap is wayyy more likely. Don't FOMO into anything and have a bi-directional outlook on the chart; inverting the chart might help. Protect your capital and lessen your position sizes until further confirmation. Take care
TVC:VIXShort
by Cough5yrup
1
IDX $AGII Rising Wedge Potential Breakdown$AGII of IDX Technical: Rising Wedge breakdown followed a textbook ABC pattern Breakdown will result in freefall to a strong first support at 1400 area, followed by a failed attempt to push past the bottom channel of the wedge and will start another freefall to the next support at 800 area inside 0.618 fib area. Fundamental: The trigger would likely be the (next) earning report as evidence in decline of EBITDA over the subsequence quarter which has little hope to reclaim record earning at Q3 2021 Q4 2021 exhibit a poor earning performance(-25% from Q3) but followed by a to new ATH at 2500. The (low volume) markup most likely mark the start of distribution phase to from institution to retail whom realized the declining performance of the company and increasingly unhealthy interest payment coverage by its operating cash flow (EBIT/debt interest : 1.7x) AGII's EBITDA Q3 2021 275 Q4 2021 204 ↓ Q1 2022 184 ↓
IDX:AGIIShort
by ANDYKx