Recent News US Economic Data: The release of the US Consumer Price Index (CPI) data on August 14 showed a slight increase, which led to fading expectations of an imminent rate cut by the Federal Reserve. This resulted in a minor decline in gold prices, as the likelihood of a rate cut, which would weaken Read More…
Trading Strategy Overview Josh, a trader from Connecticut, has received funding in OneUp Trader’s funded trader program by employing a straightforward support and resistance trading approach. His strategy focuses on identifying key levels on the chart and profiting on breakouts and retracements. Many traders use support and resistance levels in their approach, but Josh has Read More…
Important Points All-Time High (ATH) Resistance: Support and Resistance Levels: Price Action: Trade Opportunities: Bullish Scenario: Bearish Scenario: Risk Management: Final Call: Overall, the chart is showing a bullish bias, with a key decision point around the ATH. Traders should watch for either a breakout or a rejection to determine the next move.
Equities rose on Monday, adding to last week’s gains as markets priced in a Fed rate cut at the September meeting. At the same time, risk appetite improved since data last week eased fears of a looming US recession. S&P 500 weekly performance (Source: Bloomberg) Equities closed the best week of the year on Friday, Read More…
Monthly Chart The monthly chart gives us a good idea of where CL has been sitting since the start of 2023. The longer the price sits in the tight range the stronger the break out will be but at the moment CL is being pushed around a lot by fundamentals. The volume profile point of Read More…
Introduction The Dow Jones has been in a tight ascending triangle on the weekly chart as all US indices continue to surge despite massive geopolitical tensions. At the moment, YM is bouncing off a low and could possibly look to be moving higher for the next few weeks. Lets take a look at the chart Read More…
