Daily Market Watchlist Analysis by Skeptic
📊 Navigating the forex and crypto markets requires sharp analysis and timely decisions. Today, I'll break down my forex daily watchlist, analyzing key indices and commodities to uncover potential trading opportunities. Let's dive in, starting with the U.S. Dollar Index (DXY).
💲DXY Analysis
Timeframe: Daily & 4H
Daily Chart: DXY has shown a strong bullish trend, recently rejecting the 110 resistance level and pulling back to a key support zone. There's potential for a bullish rebound towards 110, or even a breakout for further upside continuation.
Fundamental Insight: Current fundamental data shows balanced supply and demand, causing market indecision.
4H Chart: Five consecutive neutral candles suggest indecisiveness. It's wise to reduce risk exposure, limit the number of trades, and tighten stop-losses until a clearer direction emerges.
Trading Plan:
🥇Gold (XAUUSD) Analysis
Timeframe: Daily & 4H
Daily Chart: Gold is correcting after its primary weekly bullish trend. Following a three-wave correction, it has resumed an uptrend within a rising channel, now facing significant resistance at 2718. A breakout could signal early entry for a move towards the 2789 high.
4H Chart: The ascending channel is more visible here. A potential pullback to the 2693 support zone could offer a solid buying opportunity.
Trading Plan:
📈S&P 500 Index (SPX500) Analysis
Timeframe: 4H
After a bullish impulse reaching 5980, SPX500 is undergoing a healthy correction, signaling strength in the upward move.
Watching for the RSI to revisit the 70 level and a resistance breakout for confirmation.
For aggressive traders, the 5928 support zone offers a potential buy opportunity.
Trading Plan:
🚀Markets are showing signs of consolidation and indecision, making risk management crucial. Focus on high-probability setups and wait for clear confirmations before committing to trades.
Which market are you focusing on today? Share your thoughts in the comments!
✍️I'm Skeptic, here to simplify trading and help you achieve mastery step by step. Let's keep growing together!
💲DXY Analysis
Timeframe: Daily & 4H
Daily Chart: DXY has shown a strong bullish trend, recently rejecting the 110 resistance level and pulling back to a key support zone. There's potential for a bullish rebound towards 110, or even a breakout for further upside continuation.
Fundamental Insight: Current fundamental data shows balanced supply and demand, causing market indecision.
4H Chart: Five consecutive neutral candles suggest indecisiveness. It's wise to reduce risk exposure, limit the number of trades, and tighten stop-losses until a clearer direction emerges.
Trading Plan:
- Bullish Scenario: If DXY breaks above 110 with momentum, look for USD long positions across pairs.
- Neutral/Bearish Scenario: Stay cautious; avoid heavy exposure until the short-term trend clarifies.
🥇Gold (XAUUSD) Analysis
Timeframe: Daily & 4H
Daily Chart: Gold is correcting after its primary weekly bullish trend. Following a three-wave correction, it has resumed an uptrend within a rising channel, now facing significant resistance at 2718. A breakout could signal early entry for a move towards the 2789 high.
4H Chart: The ascending channel is more visible here. A potential pullback to the 2693 support zone could offer a solid buying opportunity.
Trading Plan:
- Set a Buy Stop near 2718 with a safe stop-loss below the previous low or 2693.
📈S&P 500 Index (SPX500) Analysis
Timeframe: 4H
After a bullish impulse reaching 5980, SPX500 is undergoing a healthy correction, signaling strength in the upward move.
Watching for the RSI to revisit the 70 level and a resistance breakout for confirmation.
For aggressive traders, the 5928 support zone offers a potential buy opportunity.
Trading Plan:
- Conservative: Wait for RSI to confirm momentum and a breakout above resistance.
- Aggressive: Enter near 5928 with a tight stop-loss below the support level.
🚀Markets are showing signs of consolidation and indecision, making risk management crucial. Focus on high-probability setups and wait for clear confirmations before committing to trades.
Which market are you focusing on today? Share your thoughts in the comments!
✍️I'm Skeptic, here to simplify trading and help you achieve mastery step by step. Let's keep growing together!
Feragatname
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