MICHAL K. AND BITCOIN – A MIGHTY LESSON

Michal first heard about bitcoin in 2014. He had $4,000 in his savings account. Inspired by his programmer friend, a rabid bitcoiner, he went all-in.

“At the time,” he wrote on his Medium page, “I invested my $4k, the price of a bitcoin was about $600. I got 6.55 BTC. I will never forget that number. Over the next half a year, bitcoin’s price kept steadily declining, until it bottomed out at $152, in January 2015. That’s a 75% loss just like that before I knew anything about how investment (or crypto) cycles work!”

But Michal was committed. He held. More importantly, he had other things occupying his time. He was zooming out.
In April 2017, the price of bitcoin hit $1,200.

He held. And he kept learning.

Between April and December of 2017, it shot up to $20,000.

He held. And learned more.

And then, it crashed down to $6,000. While most people were panicking, what did Michal do? He bought more.

Recently, he began leveraging that crypto in “blockchain banks,” making about $3,000 per month. And now that DeFi is maturing, he’s begun pulling in, on average, $20,000 per month.

His portfolio recently hit the $1 million mark.
Michal K. and Bitcoin – a Mighty Lesson He wrote:
“The reason most people who invest in crypto don’t end up rich is that they can’t hold — or, in the crypto parlance HODL. HODLing is much harder than it sounds.”

Michal offers these three pieces of advice:

ONE
Patience and calm. I watched my holdings dip 75% almost right after I bought them. I held. Then I watched them dip 85% again in 2018. I held. And I bought more. I’m not even counting all the other 20–40% dips in-between.

TWO
Timing is king. Yes, I was lucky that I heard about bitcoin in 2014. But it was my decision to seize the day and not wait a couple of years to see if the technology proves itself. Then again, in 2019, when the price was low, I topped up. It was the right time to do so, even though the returns were far from immediate.

THREE
Less is often more. I know many people who at some point became active traders in crypto. All of them either lost money or made several times smaller gains than they would have if they just held BTC, as I did. The first rule of trading is — don’t lose money. Don’t trade the market if you lack the experience… or the patience to wait for the right opportunities.
Again, if you’re interested in crypto in general, dipping your toes in all it has to offer isn’t a bad idea. Being well-rounded can only help.
But, in the end, those who play to their strengths win out.


Author: Chris Campbell

For Altucher Confidential



NB: This article teaches a mighty, real-life lesson. Thank you, Chris C.

“Great investing requires a lot of delayed gratification,” says Charlie Munger. And this quote is also apt for the blockchain industry. Don’t sell your coins. It doesn’t matter if crypto markets undergo seriously protracted bearish trends, which can happen anytime; viable coins will ultimately trend upwards and bring massive returns in the future. Selling your coins is like killing the goose that lays the golden eggs. Rather, you should use serious bearishness as opportunity to buy more coins. This advice is enough for wise investors.[b][/b]


Source: https://learn2.trade

INVESTING IN THE CRYPTOCURRENCY MARKET: TWO RELIABLE OPTIONS

As the cryptocurrency industry continues to add new coins daily, it has become increasingly tough to choose a good investment crypto option. While all crypto assets are good speculative vehicles, not all are suitable for long-term investment.

In this article, we’ll take a brief foray into two of the most reliable crypto-assets in the industry; Binance Coin (BNB) and Uniswap (UNI).

Binance Coin
[/i]Binance, the host platform of BNB, is the largest crypto marketplace in the world today. That said, investing in Binance Coin is similar to investing in the stock of Binance. Sitting at the number three spot on the top cryptocurrency rankings, BNB has recorded a meteoric rise over the past few months, thanks to the groundbreaking performance of the exchange.

Also, Binance Coin sometimes functions like an “in-game currency” that rewards users with better price deals on their transactions when they pay with BNB. This bestows the token with a kind of real-money value and also serves as a “lock-in” for traders using the platform.

Despite having suffered a barrage of a clampdown from regulatory authorities across the globe, Binance continues to adjust to the climate and forge ahead. The company has even shown that it is prepared to disrupt its operations to maintain its competitive and leading advantage, making it a reliable investment vehicle.

An example of such disruption occurred after the advent of decentralized exchanges (DEX), which threatens its business model. The behemoth crypto company swiftly launched the Binance Smart Chain (BSC), allowing developers to create decentralized new projects and facilitate fast and cheap transactions, to retain market relevance.

With these points, you begin to grasp why BNB is a mainstay investment vehicle in this rapidly evolving industry.
[i]
Uniswap
Uniswap is arguably the best-performing decentralized trading protocol (DEX), despite its relatively late entry into the space. Uniswap serves as a reliable medium for users to “swap” one token for another in a truly decentralized fashion, compared to centralized exchanges like Binance.

The launch of Uniswap V3 in May opened the doors to better lending operations for Lending Partners (market makers). Since this launch, Uniswap has grown from 1.6 million users to over 2.7 million users in four months.

Cryptocurrency Market Volatile: A Fundamental Concern
One salient principle to follow when investing is to scout for a product that solves a real-world problem and dominates its peers. Uniswap and Binance Coin fulfill both requirements.

Nonetheless, investors should anticipate and take safety measures against erratic volatility swings, which occur regularly in the crypto industry. Uniswap is an even guiltier party to this market action.[b][/b]


Source: https://learn2.trade

AIRDROP AND EARN-TO-LEARN: QUICK AND SIMPLE CRYPTO REWARDING PROGRAMS

As the cryptocurrency industry continues to grow, it has become increasingly easy to make money either through investing, trading (speculating), mining, or engaging in earning/learning and Airdrop programs—the focus of this article.

How Earn-to-Learn Works
Many crypto platforms, including two of the biggest cryptocurrency companies, CoinMarketCap and Coinbase, offer earn-to-learn education services where participants get paid to partake in short crypto-based courses.

Partaking in this program involves three easy steps:
Watch a few short videos
Take a quick quiz
Earn crypto
It is that simple!

Understanding Crypto Airdrop
Meanwhile, Airdrop Chasing is another quick and easy way to earn rewards from the crypto industry. Most times, project developers airdrop tokens (give out free coins) to interested parties who participate in a few simple tasks to generate buzz for a new project.

Some tasks required by these projects include:
Following their social media channels
Sharing posts on social media
Signing up on their platform
Completing a form about the project
Downloading their app
Because participants of airdrops come on board at an early stage of a project, the profit potentials are extraordinary. Many crypto enthusiasts have become overnight millionaires from participating in simple airdrops.

After airdropped projects hit exchanges, holders can decide to trade or swap the earned tokens.

Commenting on the benefits of airdrops, Chair of CoinDesk, Michael Casey, argued that it is essential to aggressively market a token if it is to succeed, adding that: “A currency is nothing if it is not widely used. And that can’t be achieved unless people make some cost-incurring effort to encourage widespread usage.”

Nonetheless, interested parties need to ensure they are not getting scammed, as airdropping has become a popular scamming tool in the crypto space. Some airdrop owners artificially inflate the value of their programs and dump them to make quick profits, leaving participants with close to worthless tokens.


Source: https://learn2.trade

THE DEATH OF ONE OF THE MOST ECLECTIC TRADERS

MASTER TRADER JOE ROSS PASSES ON

Dear Traders,

We are sad to inform you of the passing of Master Trader Joe Ross on the morning of Tuesday, September 7, 2021 at the age of 87. He went peacefully doing what he loved, by taking care of Loretta, his wife of 62 years of marriage and teaching his students from every continent how to trade. Joe has always been a free spirit and loved the trading world being his own boss. He quickly learned that teaching others was his true passion. The joy of educating those about a system in which he had true confidence and to see others come into their own. That was his greatest pleasure. He was proud to be a devoted Christian and combined spirituality with trading.
Our condolences to our traders and students for the loss of a mentor and close friend, some would even go as far as saying a “father-figure” and he wore that title proudly.

Master Trader Joe Ross’ passing came upon us unexpectedly and suddenly. Again, we would like to send our condolences to those who lost a mentor and a friend.

Joe, you will forever be in our hearts.

Who is Joe Ross?
Joe Ross is the creator of the Ross hook™, and has set new standards for low-risk trading with his concepts of “The Law of Charts™” and the “Traders Trick Entry™.” Joe was a private trader and investor for much of his life, but a serious health situation in the late 80’s caused him to shift his focus, and that is when he decided to share his knowledge. After his recovery, he founded Trading Educators in 1988, to teach aspiring traders how to make profits using his trading approach.
Joe Ross has written twelve major books and countless articles and essays about trading. All his books have become classics, and have been translated into many different languages. His students from around the world number in the thousands. His file of letters containing thanks and appreciation from students on every continent is huge: As one student, a successful trader, wrote: “Your mastery of teaching is even greater than my mastery of trading.”

Joe Ross holds a Bachelor of Science degree in Business Administration from the University of California at Los Angeles. He did his Masters work in Computer Sciences at the George Washington University extension in Norfolk, Virginia. He is listed in “Who’s Who in America.” After 5 decades of trading and investing, Joe Ross still tutors, teaches, writes, and trades regularly. Joe is an active and integral part of Trading Educators. He is the founder and contributor of the company’s newsletter Chart Scan™.

“Master Traders Joe Ross was one of the most eclectic traders in the world. And he remains one of the few best mentors I have, alongside, Dr. Van. K. Tharp (may he live long), and one or two others. His teachings and insights into the markets have contributed to making me who I am today. He also talks about the spiritual side of trading, concluding that trading is no sin.” – Azeez M.
“The trading world has lost a unique and passionate trader. He explained to me that his material will never go out of date, only the technology. Recently, we updated several of his hardback books into eBooks and he was right. From making trades over the phone to the “pit” then to opening an online account, my how things have changed. But he is correct about his methods, they will continue to apply to the markets regardless of how technolgy advances.” – Martha Ross-Edmunds (Joe’s daughter)

Joe Ross’ Trading Philosophy:
“Teach our students the truth in trading — teach them how to trade,” and “Give them a way to earn while they learn — realizing that it takes time to develop a successful trader.”


IN MEMORIAM: Joe Ross (RIP)


Source: https://learn2.trade

XAGUSD Price Analysis – October 18

Silver (XAG) positive fortunes faded around the $23.50 mark, with the price erasing its most recent thrilling bounce above the moving average of 13. During the Monday session, the commodity rose slightly and was last seen lingering near day highs in the $23.22 -$23.40 range.

Key Levels
Resistance Levels: $24.50, $24.00, $23.50
Support Levels: $22.87, $22.10, $21. 42

XAGUSD Long term Trend: Ranging
Today, the white metal has struggled and it’s unable to break above the top range of the surge around $23.50, it is currently trading in the red at $23.22 per ounce. Beyond the $23.50 mark, the bulls may regain a stronger grasp.

The XAGUSD pair is held by the rebound trend and the trend may remain in a recovery mode. A closing above today’s upper range, currently at $23.45, might signal a low rebound from the $21.42 level continuation of the rally that began in late September, paving the way for a break beyond the $23.50 barrier.

XAGUSD Short term Trend: Ranging
Silver (XAG) has a greater range on the 4-hour time frame from late September lows at a level of $21.42, suggesting potential upside. As a result, the metal continues to climb. It has already broken through the previous high of $23.00, signaling that the next upward phase is underway.

The pair is expected to find support at $22.87, and a break of that level might take it to the next level of $22.10 support. The pair is expected to hit its initial critical resistance around $23.50, with a break taking it to the next level of resistance at $24.00.



Source: https://learn2.trade

GOLD (XAUUSD) REBOUNDS ABOVE $1,757 SUPPORT, RESUMES UPTREND

Key Resistance Levels: $1,900, $1,950, $2000
Key Support Levels: $1,750, $1, 700,$1,650

Gold (XAUUSD) Long-term Trend: Ranging
On October 13, the Gold (XAUUSD) price broke above the moving averages and retested the 50-day SMA. This is an indication that the market is likely to rise on the upside. The uptrend is likely to resume on the upside after retesting the 50-day SMA. The market will rise to retest the $1,820 overhead resistance. XAUUSD will have an accelerated price movement if the resistance is breached. Gold price will retest the previous high of $1,920. On the other hand, the range-bound move will continue if Gold faces rejection at $1,820 resistance.


XAUUSD – Daily Chart

Daily Chart Indicators Reading:
The 21-day SMA and the 50-day SMA are sloping horizontally indicating the sideways trend. Gold is at level 53 of the Relative Strength Index period 14. Gold is in the uptrend zone and above the centerline 50. Gold is capable of rising on the upside.

Gold (XAUUSD) Medium-term bias: Bullish
On the 4 hour chart, the Gold price rebounded above $1,757 support and rallied to the high of $1,800. The market has reached the overbought region of the market. Sellers have emerged to push prices down. Meanwhile, on October 13 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that Gold will rise to level 1.618 Fibonacci extension or $1,818.70 .


XAUUSD – 4 Hour Chart
4-hour Chart Indicators Reading
Gold is below the 80% range of the daily stochastic. It is in a bearish momentum. The 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend.

General Outlook for Gold (XAUUSD)
Gold’s (XAUUSD) price has resumed an uptrend after breaking above the moving averages. The current uptrend is likely to reach a high of $1,820.Gold may face another rejection at the $1,820 resistance.


Source: https://learn2.trade

AUDUSD RISES PAST 0.7550 DESPITE RISING US T-BOND YIELDS

AUDUSD Price Analysis – October 28
The AUDUSD trades higher at 0.7554 at the time of writing, up 0.50 percent during the American session. In the near term, the pair could drop lower but it remains a buy on dips. The US Dollar Index, which gauges the performance of the greenback, falls 0.6 percent to 93.30, despite rising US T-bond yields, with the 10-year benchmark note climbing three basis points to 1.561 percent.

Key Levels
Resistance Levels: 0.7800, 0.7700, 0.7600
Support Levels: 0.7450, 0.7350, 0.7220

AUDUSD Long term Trend: Ranging
On the daily AUDUSD chart, we can see that the moving averages of 5 and 13 are beneath the price, which provides support. Bulls are also keeping an eye on the latest 0.7555-level high for a possible upward breakout. In terms of technical analysis, a simple split beyond favors bulls continuing north.

Relative Strength Index circumstances, on the other hand, may pose a challenge to the bulls after that due to overbought conditions. On the downside, the pair’s losses below 0.7478 may recall sellers targeting 0.7450 support convergence as of mid-July, which included moving averages 5 and 13 with horizontal support.

AUDUSD Short term Trend: Bullish
On the 4-hour chart of the AUDUSD, the upside rally continues, and the intraday bias is initially bullish. A breach of the 0.7478 support level could imply short-term topping, given the situation of bearish divergence in the short term RSI and price.

To resolve the full 0.7170 level increase pattern, the intraday bias for the 0.7450 support level will be returned to the downside in this scenario. However, if the resistance level of 0.7550 is sustained, the growth could accelerate to 0.7600.

Source: https://learn2.trade

USDJPY LOOKING FORWARD TO A BULLISH RIDE AFTER ACCUMULATION


USDJPY Analysis – Price Is Looking Forward to a Bullish Ride at the 113.400 Significant Level
USDJPY is looking forward to a bullish ride after several accumulations at a significant price level of 113.400. Market accumulation proceeded due to price action seeking to give both the buyers and sellers their positions in the market. Furthermore, as the buyers are always looking forward to pushing the price upward, the bears try to hold positions by accumulating at a significant price level before distribution occurs.


USDJPY Price Levels
Resistance Key Level: 113.409, 112.200
Support Key Level: 110.800, 109.100

USDJPY is looking forwardUSDJPY Long Term Trend: Bullish
As a result of the price increase, the USDJPY is projected to sustain its bullish ride. After a period of price accumulation between the significant price levels of 110.800 and 109.100, the market bulls took control. However, the more the accumulation, the more the market will finally allocate in a particular manner. After a protracted period of consolidation, the price was finally dispersed, and the bulls took control. The buyers then ride for a little longer, breaking over the significant price mark of 110.800, which they then retested before continuing.

The USDJPY gathered steam and eventually broke past the 113.400 significant price mark. This level, however, has been retested, and the price is thought to be accumulating at this extremely important level. As the momentum builds, pricing is expected to take a stronger positive turn. The Momentum indicator shows price movement diminishing, which indicates the price movement accumulation level.

USDJPY is looking forward USDJPY Long Term Trend: Bullish
On the 4-hour chart, the market has gained enough momentum to rally the price upward. However, above the 113.400 price level, the bulls and the bears are still holding on to their positions. The price is expected to move above this accumulation phase and bounce up. The Parabolic SAR (Stop and Reverse) shows price movement in range as both bulls and bears are holding their positions. USDJPY is therefore looking forward to a bullish ride when the momentum increases.

Source: https://learn2.trade

DOGECOIN (DOGE) DECLINES ON THE DOWNSIDE, REVISITS BREAKOUT LEVEL AT $0.23

Key Resistance Levels: $0.45, $0.46, $0.47
Key Support Levels: $0.25, $0.20,$0.15

DOGE/USD Long-term Trend: Bullish
Since October 29, Dogecoin’s (DOGE) price has been in a downward move. On October 28, the cryptocurrency was in a vertical rally as it reached the high of $0.34. DOGE price was resisted as the altcoin tested the previous resistance zone at $0.34. The market has declined to $0.26 low or above the 21-day SMA. Dogecoin will further decline on the downside if these levels are breached. On the other hand, if the 21-day SMA holds, buyers will recoup above the current support and resume a new uptrend.


DOGE/USD – Daily Chart
Daily Chart Indicators Reading:
DOGE price has fallen to level 52 of the Relative Strength Index period 14. Despite the retracement, the altcoin is trading in the bullish trend and it is above the centerline 50. The crypto’s price is above the moving averages and it is retesting the 21-day SMA support. The selling pressure will resume if price breaks below the moving averages.

DOGE/USD Medium-term bias: Bearish
On the 4 hour chart, the DOGE price is in a downward move. It has broken below the moving averages. There is a likelihood of price reaching the previous low. Meanwhile, on October 28 downtrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that DOGE price will fall to level 2.0 Fibonacci extension or level $0.23.


DOGE/USD – 4 Hour Chart
4-hour Chart Indicators Reading
The market has fallen below the 20% range of the daily stochastic. Dogecoin has fallen to the oversold region of the market. The implication is that the current downtrend has reached bearish exhaustion. The market is likely to resume an upward move. The crypto’s price is below the moving averages.

General Outlook for Dogecoin
Dogecoin is in a downward move. The cryptocurrency is likely to revisit the previous breakout of $0.23. This has been confirmed by level 2.0 Fibonacci extension or level $0.23.

Source: https://learn2.trade

SILVER (XAG) DAILY CLOSE ABOVE $24 HANDLE PAVES THE WAY

Silver (XAG) Price Analysis – November 7
The price of spot Silver (XAG) has risen significantly in recent trade having breached the $24.00 handle for now. The precious metal buyers look to conquer further barriers and pave the way for an upward move towards the $24.50 level. A continued decline in global and US yields would be required for such a move higher.

Key Levels
Resistance Levels: $25.50, $25.00, $24.50
Support Levels: $23.50, $23.00, $22.10
XAGUSD Long term Trend: Ranging
Silver (XAG) has demonstrated a positive breakthrough beyond the $24.00 resistance level on the daily chart from a technical standpoint. The nearest resistance is likely to be at $24.50, while the first and second support levels are expected to be at $23.50 and $23.02, respectively.

Since the end of October, silver has been climbing in a rising pattern versus the US dollar. Meanwhile, throughout the next session, the rate may find support from the rising trendline support around the $23.50 range. As a result, the price of silver may continue to rise in the present and next session.

XAGUSD Short term Trend: Ranging
On the 4-hour time frame, bulls are currently supporting an optimistic relative strength index trend to hit $24.50 in a second attempt to surpass upward. However, the commodity’s future gain may be hampered by the barrier zones around $24.82 and $25.00.

During the metal’s decline, the $23.50 level is the important support to consider ahead of the psychological horizontal support level near $23.00. If the price falls below $23.00, the $22.10 support level may come into focus, as a negative breach of the level might encourage the bears.

Source: https://learn2.trade

GOLD (XAUUSD) SHOWS STABILITY IN PRICE, RESUMES UPTREND


Key Resistance Levels: $1,900, $1,950, $2000
Key Support Levels: $1,750, $1, 700,$1,650

Gold (XAUUSD) Long-term Trend: Ranging
Gold (XAUUSD) has continued to be in a range-bound move. Since May, the Gold price has been fluctuating between levels $1,725 and $1,820.The market is yet to trend. The sideways move has made the Gold price to be relatively stable. The $1,720 support has been tested twice as bears fail to breach the support level. Similarly, the bulls have retested the $1,820 high but were repelled. A break above the $1,820 high will catapult Gold to the high of $1,900.


XAUUSD – Daily Chart
Daily Chart Indicators Reading:
The 21-day SMA and the 50-day SMA are sloping horizontally indicating the sideways trend. Gold is at level 54 of the Relative Strength Index period 14. The crypto’s price is above the moving averages which indicate a possible rise in Gold.


Gold (XAUUSD) Medium-term bias: Bullish
On the 4 hour chart, the Gold price is in an upward move as price breaks above the moving averages. The upward move is facing rejection at the $1,800 resistance zone. Meanwhile, on November 4 uptrend; a retraced candle body tested the 78.6 % Fibonacci retracement level. The retracement indicates that Gold will rise but reverse at level 1.272 Fibonacci extension or $1,806.21.


XAUUSD – 2 Hour Chart
4-hour Chart Indicators Reading
Gold is above the 80% range of the daily stochastic. Gold price is in the overbought region of the market. The market is in a bullish momentum. The 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend.

General Outlook for Gold (XAUUSD)
Gold’s (XAUUSD) price is resuming an upward move on the upside. Gold is rising to retest the $1,800 resistance level.

Source: https://learn2.trade

WILL SHIBA INU (SHIB) EVER REACH 1 CENT OR EVEN $1?


It’s a Doge-Eat-Doge World Out There

Shiba Inu is the latest meme coin. Its holders are promising it will make you an overnight millionaire.

And they have proof to back up their claims.

In August, a Shiba holder spent $3,400 on the meme coin. Now it’s worth $1.5 billion.

Impressed yet? If not, consider another dog coin baron.

This one bought $8,000 worth in August. It’s now worth $5.7 billion. For those counting, that’s $8,000 to $5.7 billion in about 400 days.

Some are calling it the “greatest trade ever.”

Not quite.
It's a Doge-Eat-Doge World Out ThereShiba has leapfrogged dogecoin to become the ninth-most valuable crypto in the world.

Obviously, that’s not a buy signal.

So why is Shiba pumping? Well, apart from the fact that the majority almost always buy green and sell red…

The “Dogecoin Killer”
Crypto whales use meme coins as a gauge of how much new — and unsophisticated — money is moving into the crypto markets. And then they do everything they can to take that money from them.

(Anecdotal, but almost everyone I’ve talked to who’s recently gotten into crypto started with a dog coin.)

This morning, for kicks, I asked crypto whale watcher Justin Gupta of CryptoDash.live what he thought about Shiba.

“Cryptocurrencies are volatile as is,” said Justin. “But when they are not well distributed, and only a few control a large portion of the tokens, they become even more so. This is because these few individuals can move the market at their whim.”

In the case of Shiba, Justin explained, nearly 1/5th of the supply is controlled by two accounts: “Meaning at any given moment, if these accounts decide to dump, they could trigger a massive panic sell-off and crash the asset.”

It's a Doge-Eat-Doge World Out There
One fifth of Shiba is held by 2 accounts
One fifth of Shiba is held by 2 accounts

Compare that to Dogecoin, where the top two accounts hold 10% of total circulating supply.

But, in the end…

It Doesn’t Matter
The reality of the current crypto market is that virtually nobody cares about the technology or tokenomics. Consider, months ago Shiba pumped 300% after Elon Musk tweeted he would be getting a Shiba Inu dog.

And to the untrained eye, Shiba seems cheap.

It’s currently sitting at $0.00007253.

But, the market cap is $40 billion, bigger than Robinhood. Bigger than Sysco Corp., the largest food distribution company in America. (And its circulating supply is around 550 trillion.)

If you’re buying into Shiba today it’s because you’re convinced it’s going to 1 cent. Maybe even $1. I’ll tell you right now. It’s not going to happen.

Yes, this points to new money coming into this space. But there are clearly other things driving this mania. Sometimes these things are best expressed with memes:
Richard Burton, a designer for DeFi projects, brought up an important point that gets far less attention than the money printers: barriers to entry in traditional finance.

Shiba Inu, he wrote, “is what happens when you stop generations of Americans from investing in startups with Accredited Investor Laws designed to ‘protect people.'”

Perhaps lower barriers to entry mean we create more informed investors. Or… as in the case with all meme coins and stocks… perhaps not.

NB: Shiba Inu is not the next bitcoin. More likely, it’ll be where most newbies get fleeced. If you’re looking for solid advice on the projects worthy of your hard-earned money, look no further.


Source: https://learn2.trade/will-shiba-inu-shib-ever-reach-1-cent-or-even-1

SOLANA (SOL) PRICE ANALYSIS: SOL/USD FINDS SUPPORT ABOVE $225 RESUMES UPTREND

Highlights
Solana retraces to $236 low
SOL/USD rallies to $260 high

Solana (SOL) Current Statistics
The current price: $236.86
Market Capitalization: $121,293,789,737
Trading Volume: $2,391,079,319
Major supply zones: $280, $300, $320
Major demand zones: $160, $140, $120

Solana (SOL) Price Analysis November 15, 2021
Solana’s (SOL) price has been trading above the moving averages. The market is retracing to the support above the 21-day SMA. The uptrend will resume if the price finds support above 21-day SMA. Meanwhile, on October 25 uptrend, a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that Solana will rise to level 2.0 Fibonacci extension or $287.92.


SOL/USD – Daily Chart

Solana (SOL) Technical Indicators Reading
Solana is at level 60 of the Relative Strength index period 14.SOL is in the bullish trend zone and capable of a further upward move. Solana is below the 20% range of the daily stochastic. The market has fallen to the oversold region.


Conclusion
On the 30- Mins chart, Solana has been in a downward move. The cryptocurrency has fallen to the oversold region. Meanwhile, on November 15 downtrend; a retraced candle body tested the 6.8% Fibonacci retracement level. The retracement indicates that Solana will fall to level 1.618 Fibonacci extensions or $233.74.


Source: https://learn2.trade

IS IT RATIONAL TO SETTLE FOR 10% RETURNS PER MONTH?

“One of the secrets few know and fewer implement when it comes to trading success is that you have to really care about doing well. These days, I see a lot of traders not caring enough, not prioritizing learning about trading, and making pathetic weak-willed excuses.” – Chris T.

Perfectionism – a bane of the trading world
When people look for a solution to their trading problems, they tend to look for the solution in the wrong places, having the wrong mindset. One problem with most traders is perfectionism. For instance, we tend to go to those who promise us 50% to 100% per week or month. If someone gives an estimate of 5% profits per month, we would think that is too small. If an investment salesperson promises huge returns in a short period of time, we’re drawn to them.

What if I tell you that 5% per month is good returns on your trading or investment, would you agree with me? Is 60% growth per annum not good enough?

Many years ago, one of my mentors in the financial industry told me that, even 20% growth per annum is good.

In schools, we tend to ridicule those who make average grades and praise those who make excellent grades. The same is true of the world of sports. Do you think great sports teams win all their matches always?

No! But they do well over time.
Are 10% gains per month too low?

Now let me ask these questions:

How much percentage do you earn on your savings account per annum?

How much do you earn on your fixed deposit account per month?

How many people can pay off their mortgages within one year?

If you buy a bus, to use for commercial purposes, is it easy for you to recover your money in one year?

Can you buy a property and sell it for 100% profit within 10 months?

If you found a startup, how long do you think it would take you to start making profits?

Please attempt to answer these questions yourself, based on real-life experiences.

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EURUSD HOVERS NEAR MULTI-MONTH LOW, UNDER 1.1250 LEVEL

EURUSD Price Analysis – November 22
Throughout the session, the EURUSD pair remained on the losing side and was last seen moving with considerable losses around the 1.1250-36 level. The announcement that the White House has opted to reappoint incumbent Fed Chair Jerome Powell for a second term sparked the recent strong dip. The spot is trading at 1.1253 at the time of writing, down 0.25 percent on the day.

Key Levels
Resistance Levels: 1.1525, 1.1422, 1.1300
Support Levels: 1.1200, 1. 1150, 1.1100

EURUSD Long term Trend: Bearish
EURUSD has sunk to fresh multi-day lows, as seen on the daily chart, after extending the recent breach beneath the moving averages 5 around the 1.1300 level. This exposes the possibility of a deeper pullback and a re-test of the psychological support around 1.1200. Under the 1.1200 level, the euro’s underlying bullish attitude is in jeopardy.

Overall, the EURUSD stays bearish while trading under the major horizontal support turned resistance and significant level at 1.1422. A breakout of the 1.1300 level, on the other hand, would aim for the 1.1350 level on the way to the 1.1400 zones. The fall of the 1.1200 zones, in the alternative scenario, is viewed as a bearish continuation indicator.

EURUSD Short term Trend: Bearish
The risk is weighted to the negative on the 4-hour chart, as the pair is developing below the firmly bearish 5 and 13 moving averages. Technical indicators have shifted to the downside, with negative levels. However, in the present scenario, the RSI has not yet reached oversold territory, allowing for more selling.

On the upside, a break over the modest resistance level of 1.1300 might shift the intraday bias to neutral. On the downside, the 1.1200 zones provide initial support. The next important level of support is around the 1.1150 mark. If there are any more losses, the 1.1100 extension level of the low decline may be tested.


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EURJPY DEPRECIATES TO LOWS NEAR 128.00 FOLLOWING COVID RESURGENCE

EURJPY Price Analysis – November 27
EURJPY pair fell for the third session in a row on Friday, depreciating to the area of recent lows in the 128.00 range. As the new strain of COVID weighs heavily on investors’ sentiment, strong buying interest in the Japanese yen puts EURJPY under added pressure in the sub-129.00 levels.

Key Levels
Resistance Levels: 130.50, 130.00, 129.61
Support Levels: 127.00, 126.50, 126.00
EURJPY Long term Trend: Ranging
On Friday, the EURJPY opened higher at 129.31 and moved lower to 127.79 intraday lows losing almost 1%. The pair plunged, as bears emerged and traders focused on levels below 128.00. To investigate the bearish scenario, a decisive fall below 128.00 must be established.

The pair may continue to fall into the next session, with bearish traders targeting the 127.00 area as a possible objective. As long as the 128.00 support level holds and the price is sustained above, more gains may be expected. A strong breakout of 128.50, on the other hand, would confirm that the rebound from 127.79 low has come to stay, bringing this low back into focus as a new bottom.

EURJPY Short term Trend: Bearish
The EURJPY is still trading bearishly from its October high of 133.47 on the 4-hour charts, and the intraday bias is still to the downside. If the resistance at 128.50 holds, a further drop is likely. A decisive rebound past 128.50, on the other hand, will consolidate on the entire rebound from 127.79 low level.

The mid-term support turned resistance level of 130.00 will be the next level of contention. A break of revised support around the 128.00, on the other hand, might reverse the rebound and broaden the down leg from 130.00 with a new phase of the drop towards the mid 127.00 in the coming session.


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USDJPY PRICE OUTFLOW IS DRAWN BY SELLERS BACK TO 114.840


USDJPY Price Analysis – November 25
USDJPY price outflow is being held back as a consequence of bears causing opposition to the market influence. The price structure of the market strives to maintain an uptrend configuration under a bullish influence. However, the sellers are causing some resistance in the market, which is causing a hold in the market configuration. Because of this conflict in the market, the outflow of the bulls in the market will be held back to the 114.840 critical level.


USDJPY Critical Levels
Resistance Levels: 114.840, 112.790
Support Levels: 110.800, 109.100

USDJPY price outflowUSDJPY Long Term Trend: Bullish
The bullish outflow price structure initially began with the expansive breadth of consolidation. The market was birthed after a strong price expansion before the bullish uprise. The price undulated between the breadth of the 110.800 and 109.100 significant price levels. As a result of this accumulation, the price was then pushed out to higher levels. With the continuation of the market expansion, buyers outflow upward, with the bulls taking hold of the market.

Furthermore, price continues to experience more outflows as several structural levels were broken. When USDJPY eventually gets to the 112.790 level, the price resumes its accumulation phase. The market encountered a short phase of expansion before resuming bullish persistence. The price finally breaks through the 114.840 significant level and we expect a withdrawal back to this price level before bullish engagement. The Tensile Strength indicator shows the resilience of the market influence as the market is set to resume its bullish leverage after sellers retreat.

USDJPY price outflow USDJPY Short Term Trend: Bearish
The 4-hour chart of USDJPY shows the price configuration riding upward following a strong force that broke through the 114.840 critical level. The price is now set in a retreat motion as the price is seen to be pulling away to the 114.840 price level. The Moving Average Convergence and Divergence indicator shows the market’s prevalent direction as the price is set on a pullback course to the 114.840 critical level before bullish outflow.


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GOLD (XAUUSD) IS IN A DOWNTREND AS SELLERS THREATEN TO SHORT


Key Resistance Levels: $1,900, $1,950, $2000
Key Support Levels: $1,750, $1, 700, $1,650

Gold (XAUUSD) Long-term Trend: Bearish
Gold (XAUUSD) is in a downward move. On November 16, XAUUSD rallied to $1,877 high. Buyers could not sustain the bullish momentum as the market reached the overbought region. Gold was rejected from the recent high as the market declined sharply to the low of level 1782. Presently, the Gold price is above the 50-day line SMA but below the 21-day SMA. If the 50-day line support holds, Gold will be range-bound between the moving averages.


XAUUSD – Daily Chart
Daily Chart Indicators Reading:
Gold is at level 42 of the Relative Strength Index for period 14. XAUUSD is now in the downtrend zone and below the centerline 50. Gold price is between the moving averages which will result in a range-bound move above the current support. The 21-day SMA and the 50-day SMA are sloping horizontally indicating the sideways trend.

Gold (XAUUSD) Medium-term bias: Bearish
On the 4 hour chart, the Gold price is in a downward move. The downtrend has reached bearish exhaustion. Meanwhile, on November 16 uptrend; a retraced candle body tested the 38.2 % Fibonacci retracement level. The retracement indicates that Gold will fall to level 2.618 Fibonacci extension or $1,802.08. From the price action, the market declined to level 1778 and resumed consolidation.


XAUUSD – 4 Hour Chart
4-hour Chart Indicators Reading
Gold is above the 40% range of the daily stochastic. The market is in bullish momentum. The 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend.

General Outlook for Gold (XAUUSD)
Gold’s (XAUUSD) is in a downward move. For the past week, the Gold price has been consolidating above level 1778. The downtrend has reached bearish exhaustion as price holds above the previous low.

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SILVER (XAGUSD) TO REINFORCE RECENT BOUNCE FROM $22.03 LOWS


Silver (XAGUSD) Price Analysis – December 5
Silver (XAGUSD) remains under pressure, having pared a corrective drop from a multiday low on Friday. After the drop to $22.03 lows, the white metal might reinforce the recent bounce towards the $23.00 level. As risk flows dominate the financial markets, the white metal continues to attract buyers.

Key Levels
Resistance Levels: $24.00, $23.50, $23.00
Support Levels: $22.03, $21.42, $21.00

XAGUSD Long term Trend: Bearish
On XAGUSD daily chart, a significant price rise has been verified, which usually results in the preceding positive advance being accelerated. As a result, it’s characterized as a bullish reversal trend.

To confirm the upward rebound, a daily close above the flag’s high end, now at $22.59, is necessary. This might lead to a price of $23.50 (target according to the moving average 13). Silver, on the other hand, may meet resistance at levels $23.00 and $24.82 (high of Oct 21).

XAGUSD Short term Trend: Bearish
Silver (XAGUSD) has rebounded further from a technical perspective, as demonstrated on the 4-hour chart. It has now recovered to levels above both the 5 and 13 moving averages. The nearest resistance is at $23.02, while the first and second support levels are predicted to be around $22.10 and $21.42, respectively.

The XAGUSD’s rally may continue with the intraday bias pointing to the $23.02 barrier. A break there will confirm the corrective pullback from the $25.40 level is over. On the upside, a break above the $23.50 minor barrier will trigger a positive intraday bias. In the event of a pullback, however, the risk will remain on the negative as long as the $23.02 resistance level holds.

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CARDANO PRICE: $1.11 SUPPORT LEVEL MAY HOLD, PRICE INCREASE ENVISAGED

An increase in the bears’ pressure may push the price to the support level of $0.98, below it is $0.82 level. Inability to break down the $1.11 by the bears may lead to price reversal and it may increase the price to resistance levels at $1.32, $1.46 and $2.64.

ADA/USD Market

Key Levels:

Resistance levels: $1.32, $1.46, $1.64

Support levels: $1.11, $0.98, $0.82

ADA/USD Long-term Trend: Bearish

Cardano is bearish on daily chart. The bears dominate Cardano market since September. The bearish momentum decrease the price to $1.87 price level on October 27. The decrease was interrupted with the formation of bullish engulfing candle which indicate the buyers’ pressure. Cardano price pulled back to $2.3 level. Bearish movement was restored the following day and the price falls to $1.11.


ADAUSD daily chart, December 14
Cardano is trading below the 9 periods EMA and 21 periods EMA after broken down the dynamic support levels. An increase in the bears’ pressure may push the price to the support level of $0.98, below it is $0.82 level. Inability to break down the $1.11 by the bears may lead to price reversal and it may increase the price to resistance levels at $1.32, $1.46 and $2.64. The technical indicator relative Strength Index period 14 is at 30 levels with the signal line pointing downside which indicates a bearish signal.

ADA/USD Medium-term Trend: Bearish

Cardano is on the bearish movement on 4-hour chart. Last week, Cardano was under the control of the bears. The bearish momentum pushes the price down to the support level at $1.32. The level was defended by the bulls with the formation of bullish engulfing candle. The price pulled back and increases toward the resistance level of $1.46.



The price is trading below the 9 periods EMA and 21 periods EMA while the two EMAs are crossing each other. The relative strength index period 14 is at 40 levels and the signal line pointing up to indicate buy signal which may be a pullback.

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POLKADOT (DOT) FLUCTUATES IN A RANGE AS SELLERS ATTEMPT TO BREAK CURRENT SUPPORT


Updated: 17 December 2021
Key Resistance Levels: $60, $62, $64
Key Support Levels: $40,$38,$36

Polkadot (DOT) Price Long-term Trend: Bearish
Polkadot’s (DOT) price is hovering above the $25 price level. The cryptocurrency has been fluctuating above the current support at $23.95. During the December 4 price slump, the bears retested the current support twice but failed to sink the altcoin. Also, the bulls bought the dips as buyers pushed the altcoin upward. The upward correction was interrupted twice on December 7 and 9 as the crypto fell and resumed the range-bound move. Polkadot has already fallen to the oversold region on December 4. Therefore, a further downward move is unlikely. Buyers are expected to emerge in the oversold region.


DOT/USD – Daily Chart
Daily Chart Indicators Reading:
Polkadot is at level 33 of the Relative Strength Index period 14. The market is in the downtrend zone and below the centerline 50. The crypto’s price bars are below the moving averages which indicate a further downward move. The altcoin will rise if price breaks above the moving averages.


Polkadot (DOT) Medium-term Trend: Ranging
On the 4-hour chart, Polkadot is in a range-bound move. The cryptocurrency is fluctuating between $24 and $30 price levels. Polkadot will resume trending when price breaks the range-bound levels. For instance, if price breaks the $30 resistance and the bullish momentum is sustained, the uptrend will resume.


DOT/USD – 4 hour
4-hour Chart Indicators Reading
DOT price is above the 25% area of the daily stochastic indicating a bullish momentum. The altcoin is rising after falling to the lower price range. The 21-day SMA and the 50-day SMA are sloping southward indicating the downtrend.

General Outlook for Polkadot (DOT)
DOT/USD is now in a range-bound move. The bearish trend has subsided above the $23.95 support. The altcoin will resume an uptrend if price rebounds above the current support.

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GBP/USD HOVERS ABOVE LEVEL 1.3200, MAY RESUME UPTREND


Key Resistance Levels: 1.4200, 1.4400, 1.4600
Key Support Levels: 1.3400, 1.3200, 1.3000

GBP/USD Price Long-term Trend: Bearish
GBP/USD pair is in a downtrend but may resume uptrend. The bears have pushed the altcoin to the low of level 1.3216. This is the previous low of December 7. The market will resume upward if the current support holds. Otherwise, the selling pressure will resume. Meanwhile, on July 19 downtrend; a retraced candle body tested the 61.8 % Fibonacci retracement level. The retracement indicates that GBP/USD is likely to fall to level 1.618 Fibonacci extension or level 1.3.

GBP/USD – Weekly Chart
Daily Chart Indicators Reading:
GBP/USD is at level 33 of the Relative Strength Index period 14. The currency pair is approaching the oversold region of the market. The price bars are below the 21-day line and 50-day line SMAs indicating a further downward move.

GBP/USD Medium-term Trend: Bearish
On the daily chart, the pair is in a downward move. The Pound price is making a series of lower highs and lower lows. The moving averages are acting as resistance to the Pound. Meanwhile, on July 19 downtrend; a retraced candle body tested the 50% Fibonacci retracement. The retracement indicates that GBP/USD is likely to fall to level 2.0 Fibonacci extension or level 1.2920.

GBP/USD – Daily Chart
Daily Chart Indicators Reading
The pair is above the 25% range of the daily stochastic. The daily stochastic bands are sloping horizontally. The 21-day and 50-day SMAs are sloping downward indicating the downtrend.

General Outlook for GBP/USD
The Pound is nearing bearish exhaustion as it falls to the oversold region of the market. The Pound is hovering above level 1.3216. The currency will resume an upward move if the current support holds. Otherwise, the market will fall and revisit level 1.618 or 2.0 Fibonacci extension or 1.3169 and 1.2920.


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NZDUSD BEARISH BAR AIM TO BREAK OVER PRICE LEVEL



NZDUSD Analysis – Bearish Bar Aim to Break Over the 0.67000 Price Level of Influence
NZDUSD bearish bar aims to break over the 0.67000 price level of significance. The bearish order of the market has been a major contributor to market formation. The more their tributes emerge from the market, the more influence they tend to reproduce. Even though the buyers are also indebted in the NZDUSD market analysis, the bears are inclined to break price over another level of significance. This implies that the bearish order flow will continue to increase its price momentum as the market unfolds.


NZDUSD Market Levels:
Resistance Levels 0.72000, 0.70400
Support Levels: 0.68300, 0.67000

NZDUSD Bearish Bar Aim to Break Over Price LevelNZDUSD Long Term Trend: Bearish
NZDUSD market has created both bear and bull cognition in the market. The price first advanced with a quick motion above the 0.72000 level of influence. The candlestick strode upward with a range of influence. The market considerably experiences a short range of accumulation. As a result of the anticipated price accumulation phase, the bears appeared with a robust hand to move the price in another direction. When the bears push the price network downward here, their presence signifies a bearish order flow of influence. They are therefore willing to pay for price movement as price appearance continues to follow this.

After the bearish interference by bringing the price movement down to the 0.68300 price significance, the price activities are now being substantiated by both the bullish price and the bearish price. NZDUSD now displays its market ranging between the levels of 0.72000 and 0.68300 in price influence. However, with bearish influence encompassing the market, the bears are aiming to break over the next price level of 0.67000 for the market to progress.

NZDUSD Bearish Bar Aim to Break Over Price LevelNZDUSD Short Term Trend: Bearish
Following the 4hour chart, the price movement happens to be pursuing a downtrend. The bearish bar aims to break over the price level of influence in the market as it obeys the market’s bearish order. The Parabolic SAR (Stop and Reverse) shows how the market is reinforced in bearish order and the Momentum indicator declines as the price prepares to break over the 0.67000 market level in bearish order.


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NZDUSD BEARISH BAR AIM TO BREAK OVER PRICE LEVEL



NZDUSD Analysis – Bearish Bar Aim to Break Over the 0.67000 Price Level of Influence
NZDUSD bearish bar aims to break over the 0.67000 price level of significance. The bearish order of the market has been a major contributor to market formation. The more their tributes emerge from the market, the more influence they tend to reproduce. Even though the buyers are also indebted in the NZDUSD market analysis, the bears are inclined to break price over another level of significance. This implies that the bearish order flow will continue to increase its price momentum as the market unfolds.


NZDUSD Market Levels:
Resistance Levels 0.72000, 0.70400
Support Levels: 0.68300, 0.67000

NZDUSD Bearish Bar Aim to Break Over Price LevelNZDUSD Long Term Trend: Bearish
NZDUSD market has created both bear and bull cognition in the market. The price first advanced with a quick motion above the 0.72000 level of influence. The candlestick strode upward with a range of influence. The market considerably experiences a short range of accumulation. As a result of the anticipated price accumulation phase, the bears appeared with a robust hand to move the price in another direction. When the bears push the price network downward here, their presence signifies a bearish order flow of influence. They are therefore willing to pay for price movement as price appearance continues to follow this.

After the bearish interference by bringing the price movement down to the 0.68300 price significance, the price activities are now being substantiated by both the bullish price and the bearish price. NZDUSD now displays its market ranging between the levels of 0.72000 and 0.68300 in price influence. However, with bearish influence encompassing the market, the bears are aiming to break over the next price level of 0.67000 for the market to progress.

NZDUSD Bearish Bar Aim to Break Over Price LevelNZDUSD Short Term Trend: Bearish
Following the 4hour chart, the price movement happens to be pursuing a downtrend. The bearish bar aims to break over the price level of influence in the market as it obeys the market’s bearish order. The Parabolic SAR (Stop and Reverse) shows how the market is reinforced in bearish order and the Momentum indicator declines as the price prepares to break over the 0.67000 market level in bearish order.


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what do you do?I don't understand this long write up

SILVER (XAG/USD) IS AN UPWARD MOVE, BATTLES THE OVERHEAD RESISTANCE AT $28


Key Levels
Resistance Levels: $26, $28, and $30
Support Levels: $24, $22 and $19

XAG/USD Price Long-term Trend: Ranging
XAG/USD price is in a sideways trend but battles the overhead resistance at $28. Following the uptrend on August 3, Silver rallied to a high of $28. The bulls could not sustain the bullish momentum above the recent high. For the past four months, the price has been fluctuating below the overhead resistance. On June 14, buyers were repelled as price breaks below the moving averages. The selling pressure may resume if price breaks below the moving average. Today, XAG/USD is trading at $22 at press time. Buyers are pushing the Silver (XAGUSD) to retest the overhead resistance.

Silver (XAG/USD) Is an Upward Move, Battles the Overhead Resistance at $28

XAG/USD – Weekly Chart
Weekly Chart Indicators Reading:
Silver (XAGUSD) is at level 43 of the Relative Strength Index for period 14. It indicates that the market is in the downtrend zone and capable of further decline. The 21-day line and the 50-day line moving averages are sloping horizontally indicating a sideways trend. The price bars are below the 21-day line and 50-day line moving averages indicating a possible downward move.

XAG/USD Medium-term Trend: Bullish
On the 4- hour chart, Silver (XAGUSD) is in a brief uptrend. The uptrend is expected to reach the high of level $23. Meanwhile, a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement suggests that Silver will rise to level 1.618 Fibonacci extension or $23.14.

Silver (XAG/USD) Is an Upward Move, Battles the Overhead Resistance at $28

XAG/USD – 4 Hour Chart
4 -Hour Chart Indicators Reading
Silver (XAGUSD) is above the 80% range of the daily stochastic. It indicates that the market is in the overbought region. The market may decline as sellers emerge in the overbought region. The 21-day line and 50-day line moving averages are sloping
upward indicating the brief uptrend.

General Outlook for XAG/USD
Silver (XAGUSD) is in a downward move but battles the overhead resistance at $28. Buyers failed to keep price above the $28 overhead resistance level. The brief uptrend is facing resistance at the high of level $23. The market will further decline if it faces rejection at the recent high.


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GOLD (XAUUSD) IS STUCK IN A RANGE, FACES REJECTION AT $1,800


Key Resistance Levels: $1,900, $1,950, $2000
Key Support Levels: $1,750, $1, 700, $1,650

Gold (XAUUSD) Long-term Trend: Bullish
Gold’s (XAUUSD) price is above the moving averages but faces rejection at $1,800. The market ought to rise as prices are above the moving averages. The bulls are yet to keep the price above the moving averages. Since July, buyers have failed to sustain the bullish momentum above the $1,800 resistance level. According to the daily stochastic, Gold is trading in the overbought region of the market. Therefore the current uptrend may face rejection to the downside.

Gold (XAUUSD) Is Stuck in a Range, Faces Rejection at $1,800

XAUUSD – Daily Chart
Daily Chart Indicators Reading:
The gold price has risen to level 56 of the Relative Strength Index for period 14. XAUUSD is in the uptrend zone and above the centerline 50. It is capable of rising. The moving averages are sloping horizontally indicating the sideways trend. Gold price is above the moving averages indicating a possible rise of Gold.

Gold (XAUUSD) Medium-term bias: Ranging
On the 4 hour chart, the Gold price is in a range-bound move. Since November 23, the market has been fluctuating between $1,760 and $1,800. Since July, the bulls have not broken above the $1,800 resistance level. In the same vein, since November 23, the bulls have been defending the $1,760 support. Gold price will resume trending when the range-bound levels are breached. The market will have an accelerated movement if the $1,800 resistance is breached, The market will rally to $1,860 high.

Gold (XAUUSD) Is Stuck in a Range, Faces Rejection at $1,800
XAUUSD – 4 Hour Chart
4-hour Chart Indicators Reading
The market is still above the 80% range of the daily stochastic. It has risen to the overbought region. The Gold price is likely to retrace or fall. In other words, sellers will emerge in the overbought region of the market to push prices down.

General Outlook for Gold (XAUUSD)
Gold’s (XAUUSD) has been trading in a sideways trend since November but faces rejection at $1,800. The price is relatively stable as it fluctuates between $1,760 and $1,800. Presently, Gold is likely to fall as it reaches the overbought region of the market.


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