Dollar Index
Sell Around 104.60
Downside Targets Looks 104.00-103.70
Stop loss Above 105.20
XAUUSD
Sell Below $2379
Downside Target Looks $2370– $2360
Stop-loss Above $2390
XAGUSD
Sell Below $29.50
Downside Target Looks $29..00–$28.50
Stop-loss Above $30.00
COPPER
Sell Below $4.9000
Downside Targets Look $4.84-$4.80
Stop Loss Above $4.98
CRUDE OIL (WTI)
Crude Oil is Trading Around $78.86!!
(Yesterday we recommend Sell Around $78.80
1st Target Achieve $78.00)
Buy Above $79.00
Upside Target $80.00- $81.00
Stop-loss Below $78.00
NASDAQ
Buy Above 18700
Upside Target Looks 18800 –19000
Stop-loss Below-17600
S&P 500 E-Mini
Buy Around 5260
Stop loss Below 5200
Upside Target Looks 5300-5350
TOP PICK-AUDCAD
(Yesterday we recommend EURAUD Buy Above-1.6320 Target almost acheive -1.6350)
Buy Above -0.9092 Stop Loss –0.9070 Target-0.9130
Market dynamics are a delicate dance of consistency and risk, where the emergence of something ‘new’ heralds a wave of uncertainties. When a breakout occurs, signaling a shift from the norm to a fresh trend, market participants find themselves on edge. This shift often catches market makers off guard, forcing them into a defensive stance against a pricing structure that was previously overlooked.
The trigger for a breakout can vary, from an unexpected earnings report to a significant event like the Non-farm Payrolls release. This unpredictability adds layers of caution for market makers, as a breakout can spark a trend lasting from hours to weeks. However, it’s crucial to note that many breakouts end in failure, with prices briefly breaching support or resistance levels only to revert to their previous range.
Traders engaging in breakout strategies understand the lower probability of success inherent in such ventures. While a 40% win rate may be sought after in traditional trends, breakout strategies often aim for a significantly lower success rate, sometimes as meager as 10% to 20%. This difference dictates how traders approach setting stops and limits, emphasizing the need for a strategic and cautious approach in navigating the uncertainties of market breakouts.
Happy Trading!
Commodity Samachar
Learn and Trade with Ease
Also read-Will Chinese economic data and Eurozone CPI lead market sentiment?
Recommended-RBI MPC Meeting 2024: What’s On the RBI’s Radar?
Want help on your Trade?
Chat with an Analyst