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|| SOLUSD || $200 INCOMING PART 2!The Sol price action has been extremely bullish today, as price has firmly Broken out of the pennant formation as discussed in my previous article. Although this move is bullish, there is still some way to go before we are able to see prices as high as $200, however, it is inevitable. In the following statements I will discuss my bullish perspective. Double bottom formation: as seen using the Elliot wave indicator I have outlined the structure of a DB formation. This particular formation holds additional bullish sentiment based on the fact that it was formed leading to a tight squeeze of the larger time frame bullish pennant. This scenario generally tends to hold much greater likelihood of bullish movements to come. My target for the double bottom is set at $180, which seems like an easy target considering market sentiment, however, price is currently resting between two key levels of support and resistance drawn using the fib retracement, 0.50 ($165) and my golden ratio of 0.618 ($175.50) and 0.65 ($178.34). If we are able to hold strongly above the 165 level and even possibly retrace down to strengthen support at that level, the likelihood of success will increase. expect to see consolidation within this range prior to a breakout. Consolidation would be the healthier alternative to a clean break. The lowest ill allow price action to move before shifting towards a bearish sentiment would be the fib 0.382 ($154.51) which is the base of the double bottom formation. A great stop loss area would be around the $150-152 range. Zooming out to the pennant formation. In order to be more confident in the formation, price action would have to retrace wicking near the formations level of support turning to resistance for the breakout to be valid. If my projections are correct the validity of the pennant breakout will result in a move to roughly $226 as discussed in my previous article. in conclusion watch for any moves between the 165 and 178 levels as that would roughly indicate a strong move in either direction, however, prices as low as 155 are still justifiable and arent bearish yet. Thank you for reading this far, I hope you were able to get some insightful information to aid your pre-existing market analysis! Remember everything I say is NOT financial advice and should be taken with a grain of salt.
COINBASE:SOLUSDLong
by Crisp_Flow
Silver (XAGUSD): From Rise to Expected Downturn—What's Next?Following a rapid rise to $30, silver has seen a swift decline, indicating a completion of the minor Wave (iii) of Wave ((iii)) just above the 461.8% level. We've exceeded this level, so we need to consider potential deviations from ideal models to navigate the market effectively. We anticipate the downturn to continue and expect to find support between the 38.2% and 61.8% Fibonacci levels. This could set the stage for a rebound above the $30 mark, potentially reaching between $33.78 to a high of $46, although the upper range is quite optimistic. Trading volume is expected to provide significant support, helping to sustain Wave (iv) within a price range of $26.32 to $24.65.
OANDA:XAGUSDLong
by freeguy_by_wmc
Sell EUR/CAD Channel BreakoutThe EUR/CAD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Channel pattern. This suggests a shift in momentum towards the downside in the coming Hours. Key Points: Sell Entry: Consider entering a short position around the current price of 1.4932, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 1st Support – 1.4880 2nd Support – 1.4853 Stop-Loss: To manage risk, place a stop-loss order above 1.4965. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Thank you
Short
by KABHI_FOREX_TRADING
2
Congrats!!! Gold Breakout played so well...Gold played out so good as we expected, gold broke the uptrend and started bearish rally and we are lucky that we caught the breakout, till now we have got 320 pips in few hours from a single trade, that was easy, and it also hit our 1st TP now you all who have followed this idea may close or hold the trade to the 2nd TP zone, and also set your trades to Breakeven for no risk at all, i have mentioned the 2nd TP zone which is quite wide so close when you feel like the profits you have earned is enough, and don't over trade...
OANDA:XAUUSDShort
by imJackWilson
XAUUSD i love manipulation!!! whats going on gold gang! lol what a crazy time to be alive gold making all time highs and then BOOOOM fell out of the sky hard in london close session yesterday .. luckily we caught some of it .. all the way back down to retest the old all time high (something we talked about previously) whats next?1 its alllll up in the air currently price very strong in asian session pushing us back into the middle of the range .. a retest of the trend to sell would normally be go to but that psychological 2500 still looms and people will be reaching for that ... need to see what london session brings to us!! lets strap in tommy
OANDA:XAUUSD
by tommyXAU
Bitcoin and altcoins overview(Jule 18-19)Yesterday, we started a local corrective movement in Bitcoin. The entry into the support zone of $65,100-$64,600 did not result in a noticeable reaction, but as it went lower, the first signs of buyer defense appeared. The situation is not so straightforward now; globally, of course, we expect the continuation of the long movement, but locally, if we cannot hold above in the near future, we can expect the formation of a balance within the volume profile framework. Buyer zones: $61,700-$60,800 (pushing volume) $58,700-$65,200 (accumulated volume zone), $55,000-$53,900 (volume anomalies zone). Sales zones: $68,700-$69,800 (volume anomalies), $70,500-$71,400 (accumulated volume). Interesting altcoins. Regarding the MAVIA coin, there is currently a lack of purchase effectiveness visible. For further upward movement development, it is necessary to test the important purchase zone of $2.54-$2.44, and if there is a reaction in this zone, we expect the resumption of purchases. It is also possible to implement a speculative short idea targeting the designated volume zone if the upward movement develops from current prices. Scenarios are marked on the screenshot.
by Crypto_robotics
1
Watch out for Lagarde's comments todayThe ECB is delivering its interest rate decision today, however, most of the action could happen during the press conference. Keep your eyes on that! FX_IDC:EURUSD EASYMARKETS:EURUSD Disclaimer: easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
by easyMarkets
Your Token of Choice, My Analysis (18/7/2024) ElvianElvy So it's this time of the week again, hope this help you in your trading! Full credit to @pejman_zwin for photo These are the conditions for the post due to time constrain. CONDITIONS As an example, write Bitcoin(BTC) in the comment. Project name: Bitcoin Token symbol: BTC Max of 20 token/project will be analyzed and shared (IF I have the time, I'll do extra so try your luck.) Each person gets 1 analysis request in the comment section. (I don't have time to do multiple) Your token analysis will be shared below your comment. END OF CONDITIONS Hope you'll enjoy my analysis, happy trading!
by ElvianElvy
4
Your Token of Choice, My Analysis (18/7/2024) ElvianElvy So it's this time of the week again, hope this help you in your trading! Full credit to @pejman_zwin for photo These are the conditions for the post due to time constrain. CONDITIONS As an example, write Bitcoin(BTC) in the comment. Project name: Bitcoin Token symbol: BTC Max of 20 token/project will be analyzed and shared (IF I have the time, I'll do extra so try your luck.) Each person gets 1 analysis request in the comment section. (I don't have time to do multiple) Your token analysis will be shared below your comment. END OF CONDITIONS Hope you'll enjoy my analysis, happy trading!
by ElvianElvy