WEEKLY FOREX FORECAST SEPT 7-11th: SP500, NASDAQ, DOW JONESThe 3 Indices are in position to move higher. I am looking for long setups only, as my bias is bullish. My targets are the PWHs, and potentially ATHs.
My bias changes with a break below the Weekly FVGs.
Check the comments section below for updates regarding this analysis throughout the week.
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Dowjones
DOW JONES: Channel Up extending. 43900 possible this month.Dow Jones is on very steady bullish levels on its 1D technical outlook (RSI = 60.810, MACD = 361.330, ADX = 26.315) and this is further displayed on the chart where the two month Channel Up has ended its consolidation and should technically move to the next HH. The 1D MACD is close to a new Bullish Cross, the strongest validation for buying inside this Channel. We expect to see the index reach its top within this month (TP = 43,900).
See how our prior idea has worked out:
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XAU/USD : First Long, Then SHORT ! (READ THE CAPTION)By analyzing the #Gold chart on the 30-minute timeframe, we can see that after entering the demand zone of $2,625 to $2,632, the price was met with buying pressure and has now risen to $2,651. There are several key supply levels ahead that we need to focus on. The first and one of the most important levels is the range between $2,657 to $2,660—keep a close watch on how the price reacts to this level. The next level to monitor is $2,667.7 to $2,670.5, and the third key supply zone is between $2,673 to $2,678. Keep an eye on the price reaction at these levels! (This analysis will be updated.)
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Best Regards , Arman Shaban
US30 Approaches Key Resistance: Buyers are losing momentumIn this US30 chart, price action is currently testing a key resistance zone. After a period of consolidation and a rally, the price is struggling to break above this zone.
The projection indicates a potential bearish reversal if the resistance holds, with price possibly retracing toward the support level around 41,920.
Buyers are losing momentum, and sellers may start stepping in at this resistance. A failure to break above could trigger a move back down, with a significant drop expected to the highlighted support level. Traders should watch for any bearish confirmation before taking short positions. If the price breaks through resistance, however, it could invalidate the bearish scenario and lead to further bullish continuation.
DOW JONES Short-term correction or invalidation?Dow Jones (DJI) has been trading within a Channel Up ever since the August 05 bottom and right now finds itself below the 4H MA50 (blue trend-line). This is because based on the Higher Highs sequence, the pattern has topped and is potentially looking for the new Higher Low.
As long as the 42400 Resistance is holding, we will be expecting a short-term correction towards the 4H MA200 (orange trend-line), with a projected Low around 41600. Note that it will be above the 0.5 Fibonacci retracement level, where the September 11 Higher Low was priced.
If the 42400 Resistance, which we call the invalidation level for shorts, breaks first then we will take the loss on the short and turn bullish instead. The last Higher High was priced marginally above the 1.236 Fibonacci level, so that will be our Target (43200).
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DOW JONES Channel Up top. Sell signal.Dow Jones topped on its 6 month Channel Up, turning sideways for the past 2 weeks.
As long as the price trades inside the Channel, this is a sell signal
Trading Plan:
1. Sell on the current market price.
Targets:
1. 41150 (potential contact with the MA50 (1d) and inside the dashed Channel Up).
Tips:
1. There is a huge Bearish Divergence on the RSI (1d), similar to the one on Jan - March 2024.
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Notes:
Past trading plan:
XAU/USD : More Bullish Move ??? (READ THE CAPTION)By analyzing the #Gold chart on the 30-minute timeframe, we can see that, as expected, after the NFP news release, which was higher than the forecasted rate, the price experienced a sharp decline, dropping over 290 pips down to $2,632. Following this drop, the price rebounded to gather more liquidity and rose to the key supply level of $2,670, after which it faced another strong decline, correcting down to $2,642. Ultimately, on the last trading day of the past week, the price closed at $2,653.840. Considering the rising tensions between Iran and Israel, if the conflict escalates, I expect Gold to open with further bullish movement. Keep in mind that at the market opening, we could witness high volatility in the price, so it's better to be cautious with your trades and wait for the market to stabilize to find better trading setups during the London and New York sessions. (This analysis will be updated.)
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US30/DOW what to expect of entry levelTeam, we will wait for the US30/DOW to retest once it break below 42100
Once it reverse back toward 42106-42110 then we enter long with target as per photo
with STOP LOSS at 42067-62
target at 42168
target at 42226
Once it break above 42150, bring stop loss to BE
US30 H4 - Sell SignalUS30 H4
When the markets opened, we saw a large gap to the upside. Following another 30-60 minutes, what would have been our SL would have been knocked. That being said, we wait patiently for the markets to settle before then deciding how we are going to take out trades. We are still very much focussed on this same trading zone, hence the analysis remains the same.
I'll be looking for price to reject this 42,300 price again and test the underside for us to consider and measure entries. Lets see what unfolds, but this setup is still on the cards.
GBP/USD : First Long, Then SHORT! (READ THE CAPTION)By analyzing the GBP/USD chart on the 2-hour timeframe, we can see that the price has dropped more than 200 pips since last week up until now, finally reaching the demand level we had marked on the chart. After reaching the 1.30720 demand level, the price encountered strong demand pressure, rising over 60 pips and ultimately closing at 1.31132 . The total return of this analysis so far has been over 260 pips . It is likely that after an initial upward movement, we will see further price correction.
The Main Analysis :
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#Tesla Analysis : More Fall Ahead ? (READ THE CAPTION)By analyzing Tesla's weekly chart (logarithmic), we observe that after a correction down to $209, the price experienced renewed buying pressure and was able to climb back up to $265. Once the price reached this significant supply level again, it faced selling pressure and has, so far, corrected down to $240. I expect that if the weekly candle closes and stabilizes below $242, we may see further correction in this company's stock.
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US30 H1 - Short SignalUS30 H1
Last setup for the morning, we are quite far away from our trading zone here and our entry point, but if we are waiting for data to release, this is good for us. It gives us a zone to follow and be prepared for. We have now set our alerts and we wait patiently to see what unfolds.
We will take some time away from the markets now, with alerts set and wait for the 'ding' to trigger before making any decisions.
DOW JONES: Small pullback will offer a buy opportunity.Dow Jones is about to turn neutral on the 1D technical outlook (RSI = 57.040, MACD = 399.580, ADX = 38.469) as it crossed below its 4H MA50, withi the 4H RSI already on a bearish divergence, pointing to a short term correction. We expect that to be on or a little under the 4H MA200 and then rebound (over the 0.5 Fibonacci level) like the September 11th low. Like then, we are targeting the 1.236 Fibonacci extension (TP = 43,200).
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Dow Jones: Potential Retracement After ConsolidatThe Dow Jones Industrial Average (US30) is showing signs of exhaustion after several days of consolidation between the 41,800 and 42,300 price levels. We are now observing a potential bearish setup that may lead to a retracement towards the 41,400–41,000 zone, aligning with the 0.5 Fibonacci level on the FibCloud indicator. If this scenario plays out, it could offer a solid short opportunity for traders looking to capitalize on this potential pullback. Monitoring key levels and price action will be crucial in managing this trade.
Technical Analysis:
• Price Action: The Dow has been trading within a narrow range, indicating indecision and a potential loss of bullish momentum. A break below the consolidation zone could trigger a downward move towards the 0.5 FibCloud level.
• FibCloud Indicator: The target zone between 41,400 and 41,000 aligns with the 0.5 Fibonacci retracement level, providing a strong confluence for a possible retracement.
• Support & Resistance Levels: The immediate support is at 41,800, and a break below this level could see the index testing the 41,400–41,000 zone. Resistance remains at 42,300, a break above which could invalidate the bearish setup.
• Volume & Momentum: Decreasing volume and fading bullish momentum suggest a potential reversal. Traders should watch for confirmation signals such as bearish candlestick patterns or a momentum shift.
Trade Setup:
• Entry: Consider entering a short position below the 42,260 support level with a strong bearish confirmation.
• The stop-loss is set at a 2:1 risk-reward ratio, with an SL at 42,695 and a TP at 41,400. If strong momentum develops, the target will be extended to the 41,000 price zone.
The Dow Jones is at a critical juncture, and the upcoming price action will provide more clarity on the next directional move. This setup offers a favorable risk-to-reward ratio for traders looking to position themselves for a potential retracement. Stay updated on economic releases and price action developments to manage this trade effectively.
Note: Please remember to adjust this trade idea according to your individual trading conditions, including position size, broker-specific price variations, and any relevant external factors. Every trader’s situation is unique, so it’s crucial to tailor your approach to your own risk tolerance and market environment.
XAU/USD : Let's go for SHORT! (READ THE CAPTION)By analyzing the gold chart on the 30-minute timeframe, we can see that today the price faced a correction after reaching the key supply level at $2663 and is currently trading around $2654. Keep in mind that the shadow of war still looms over the market, so it's best to minimize your trading risk. At the moment, I expect further declines in gold to lower levels. The downside targets are $2647, $2644, and $2640, respectively.
Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
Best Regards , Arman Shaban
GBP/USD : More Fall Ahead ? (READ THE CAPTION)By analyzing the GBP/USD chart on the 2-hour timeframe, we can see that the price is currently trading around the 1.326 level. Given the current trend, I expect to see further declines in this pair. The first key target is the liquidity pool below 1.32370. This analysis will be updated, folks!
Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
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EUR/USD : Another Fall Ahead ? (READ THE CAPTION)By analyzing the #EURUSD chart on the 4-hour timeframe, we can see that, as per the previous analysis, the price faced selling pressure after filling the FVG and collecting liquidity above 1.12. So far, it has dropped over 160 pips down to 1.10500! If the price stabilizes below 1.10700, we can expect further declines in EUR/USD. This analysis will be updated, folks!
Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
Best Regards , Arman Shaban