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Ascending Channel

🥇GOLD - A retest of Fibo signals a fall. Difficult situationGold on Friday is buying back some of the fall that happened on Thursday. A correction is forming and price is testing a previously broken line and a key fibonacci area TA on the high timeframe: 1) In the coming trading week, we should pay attention to the consolidation forming in the 1984 - 1938 range boundaries 2) A breakout of the lower boundary will break the mentioned reversal pattern 3) Breakout of the upper boundary will give development of the specified potential and the phase of reversal pattern realization will begin. TA on the low timeframe: 1) Technical analysis points to a possible fall on Monday, as the retest of Fibonacci levels 0.5 and 0.382 forms a consolidation below trend support, which forms an entry point for selling. 2) A strong support was broken earlier on the news, after which a consolidation correction is formed 3) If the price does not break 0.5 fibo, it will form an entry point to sell below support. The price in this scenario will head towards 1933 Key resistance📈: 0.5 fibo Key support📉: 0.382 fibo
OANDA:XAUUSDShort
by AndeWave
18
BTCUSD → Price is forming a consolidation. Retest of 0.382 fiboBITSTAMP:BTCUSD is in the correction phase. The market is forming a decline in volatility to the lows of the last few months. Globally we still have an ascending price channel and a bullish trend. The price is declining to the limits of 0.382 fibo. Consolidation is formed above this line, in this case if the price continues to consolidate near 0.382 in the absence of a bounce, a breakout may follow and the price may decline to 28474 for a retest. A positive sign for us will be a rebound from 0.382 and a breakout of 0.236 with the subsequent consolidation of the price above the level, in this case the bulls will again begin to show potential and form a retest of resistance. The medium-term view of the situation tells us that this technical correction may continue, but not for long. The price is testing the important support area MA50 - 28474. In the long term it is worth paying attention to strong support levels, and secondly to the resistance, because in the uptrend it is worth looking for reversal points and entry points and breakout entry at these areas. Support levels: 0.382 fibo, 28474, 0.618 fibo Resistance levels: 0.236 fibo, 30575 I expect the correction to continue with a possible retest of 28474, but in the long term I expect continued growth to retest 30575 with a subsequent breakout and price movement to trend resistance. Regards R. Linda!
BITSTAMP:BTCUSDLong
by RLinda
29
GOLD → Re-test of support after a heavy fallOANDA:XAUUSD is falling. After the news press release on Wednesday and Thursday, the price fell by 2.27 and this is one of the biggest drops in the last few weeks. The opening of the session begins with consolidation and repeated retest of support The price is testing the support of 1948.16 and forms a small pullback and this is a fairly predictable reaction. The position in the market quickly turns over and sellers begin to dominate again. The market cannot form a deep pullback and forms a quick retest of support in 1948. This is a strong enough signal that the market is preparing for a continuation of the fall. I think that there may be an attempt to buy back part of the fall, in which case the price may strengthen until 1959, but I am not sure that this level will be broken. We monitor the reaction of the price to the specified levels. Moving averages do not provide clean data, because a struggle between participants is taking shape in the market. Support levels: 1948, 1933.9 (important level of 1939) Resistance levels: 1955, 1960 I expect a possible rebound and another support retest, which will only increase the potential for an approaching support breakthrough. Medium-term goal 1939-1927 Sincerely, R. Linda!
OANDA:XAUUSDShort
by RLinda
24
EURUSD → The market is preparing for further decline FX:EURUSD is forming strong declines after the news on Wednesday and Thursday. The price is weakening by 2.95% amid the strengthening of the dollar On the chart I have indicated the current range with a width of 3.97%. The range boundaries are resistance at 1.1075 and support at 1.0635. At the moment the asset is within the ascending channel, but this is not important for us, we are interested in the ascending support line, which plays a key role for the price. We are interested in the price reaction to this line to determine further decline. We should wait for either a breakout or a false breakout, the signal for a set-up will be consolidation below or above the line. Accordingly, if the price consolidates below the level, the market will form an area for entering short positions Moving averages act as resistance Support levels: Trend line, 1.0948, 1.0835 Resistance levels: 1.1075 Most likely in the long term we should expect a decline, but a rebound is possible against this line before a further fall. The lower boundary of the range could be a medium-term target. Regards R. Linda!
Short
by RLinda
12
🥇GOLD - Retest of a previously broken trend line Gold breaks local trend support and updates the low to 1942.5. A reversal pattern is forming on the global timeframe, but the fundamentals are giving the opposite signal. TA on the high timeframe: 1) On the secondary movement on Wednesday and Thursday, the price failed to update the local high and is declining to the shoulder base area 2) A false breakdown of the liquidity area is being formed. If the price fixes below, the potential for a fall will be formed TA on the low timeframe: 1) A break of support forms a correction to the previously broken line 2) The resistance area can be tested by a false breakout. For the short scenario to be confirmed we need to wait for consolidation below 1957 3) Price is forming a correction and testing 0.382 fibo, most likely there is a chance for consolidation to 0.5 fibo, but only the price reaction to this area will give us confirmation whether there will be a rise or fall Key resistance📈: 0.382, 0.5 fibo, trend line Key support📉: 1948
OANDA:XAUUSDShort
by AndeWave
13
GOLD → Resistance Retest. Possible rebound before growth OANDA:XAUUSD amid FOMC speech realizes accumulated flag potential and strengthens, aiming for flat resistance, where it is at the moment Published today: 12:30 GMT Core Durable Goods Orders (downgrade) 12:30 GMT GDP (QoQ) (improving) 12:30 GMT Initial Jobless Claims (?) 14:00 GMT Pending Home Sales (improving) Overall there may be positive news for the USD, but it depends more on GDP & IJC. The reports of these releases will show the current situation on inflation. Gold may decline with positive reports in the US market, but since the metal is in an uptrend and in a bullish set-up phase, I think that after retesting the flat resistance, the price may test one of the nearest supports before rising further. The SMA is again forming a cross. Support levels: 1972.2, 1959.8 Resistance levels: 1983.7 I expect a storm in the market when the news is released. Report data may show a medium-term outlook. Gold chart so far gives hints of medium-term growth. Regards R. Linda!
OANDA:XAUUSD
by RLinda
22
GOLD → Awaiting the FOMC & Fed press release. ↑ or ↓ ?OANDA:XAUUSD is realizing the potential of the "flag" pattern I talked about yesterday. The correction wave is ending and the price continues to strengthen Today, Wednesday, important news are published, we are interested in those that will be at 18:00 GMT from FOMC, FED. Current issues related to the rate and inflation, some representatives of this structure say that the rate may increase, and the temporary weakening of inflation may soon end amid geopolitical factors. The gold price breaks correction resistance and starts to strengthen, testing the 1970 area. Below is one of the key support 1969.3, the expected consolidation above the level may form a potential for bullish movement. Before the news I recommend to trade carefully and try to reduce risks. Moving averages indicate a neutral stance in the market before the news. Support levels: 1969.3 Resistance levels: 1973.5, 1983 If the news is bullish for the dollar, the surge in volume could destroy the gold's strength and in this case the price will move towards 1950, the technical analysis of the XAU suggests a continuation of the upside. Actually in this combination lies the difficulty. Regards R. Linda!
OANDA:XAUUSD
by RLinda
16
NZDUSD → A combination of signals gives a reversal potential FX:NZDUSD makes a false break of 0.6381 resistance and forms a correction within the uptrend. The price is testing the trend support, a reversal candlestick pattern is formed on the 4H timeframe.Collectively, we have a signal on the candlestick pattern, a false breakout of trend support and a false breakout of MA-200. Consolidation is formed above the mentioned moving average. The price is testing 0.236 Fibo and most likely this zone can serve as a starting point. If the bulls are able to keep the price above this level in the current situation, we may see growth in the medium term. Support levels: 0.236 fibo, MA-200, trend support. Resistance levels: 0.382 fibo, 0.6305 I expect the currency pair to strengthen after fixation above the mentioned support line. Medium-term target is 0.6305 and 0.6381. Regards R. Linda!
Long
by RLinda
16
Bitcoin - Bearish 21k target confirmed! (Bart pattern) The Bart pattern is now confirmed, and it doesn't look good at all for the price of Bitcoin! We need to react to the recent price action, and this pattern is breaking down. I would not be surprised if we woke up in the morning and saw a big red dildo! You can say that Bitcoin is still inside the major parallel channel and that we are still bullish, but I can tell you that the trendline has already touched three times, and only a small bounce is expected on the fourth touch. This channel is starting to be overextended, and it looks like we are going to see a huge crash! This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately. My target is still 21K, as you already know. I am not buying any BTC for the long term until we reach this target. It's a strong support because of the 0.618 Fibonacci retracement and the unfilled CME futures gap. September is usually an extremely bearish month, and October is not the best either. I think the best scenario is if we see a huge, fast crash, so we can buy cheap bitcoin as soon as possible. As per my Elliott Wave analysis, a huge major impulse wave (1) has been completed, and we are looking for an ABC correction. Markets, especially Bitcoin, move in clear waves, and this theory is pretty good for it. I warned you about this Bart pattern in my previous analysis, saying that it's a very possible scenario. This was definitely a good idea, and now the price is going down. I am now bearish on Bitcoin and expect lower prices. Let me know in the comment section what you think! Thank you, and for more ideas, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
177
Ascending Channel on XAU/USD @ D1This ascending channel has formed on the daily chart of the XAU/USD pair (Gold CFD) following a multi-month downtrend and now offers a bearish breakout opportunity. The pattern's borders are marked with the yellow lines. The potential entry level is at the cyan line. The potential take-profit level is at the green line. The position of both lines is calculated based on the channel's width. The stop-loss is to be set to the high of the breakout candle (or to the high of the preceding candle if the breakout one is trading mostly outside the channel) - it isn't shown on this chart.
FOREXCOM:XAUUSDShort
by AndriyMoraru
💱GBPJPY - The price is squeezed in a range. Possible decline GBPJPY is forming a symmetrical triangle. The price is testing the resistance and falling (rebound). Another retest may not yield results and the price within the triangle may head towards 179.77 TA on the high timeframe: 1) The trend has stopped and the price is forming a sideways flat pattern 2) False breakout and consolidation below the liquidity area gives a chance to fall to 180.00. TA on the low timeframe: 1) A retest of pattern resistance is forming. Price from the upper line may head down. 2) Price has potential and local target within the pattern - lower area and 180.00 zone 3) But! If the fundamental component changes, the price in the format of the resistance retest can break it and continue the trend aimed at strengthening of the currency pair. Key support📉: 180.75, 179.77 Key resistance📈: 182.17, 182.52
Short
by AndeWave
8
GOLD → A retest of resistance may push the price downward OANDA:XAUUSD is forming a retest of 1959.8 from the opening of the session, but the market is not ready yet. A rebound is being formed to retest the resistance area A review on the D1 timeframe gives us several indications that the market is still dominated by the bearish half. A global false breakout has been formed. Locally, the price is in consolidation between 1959.8 - 1970.2. The price is steamed up for a possible retest of the resistance area, since the uptrend was broken earlier, sell signals are forming on D1, the resistance area may push the price down further. It is acceptable to buy the insturment on a breakout of 1970.2, a false breakout of 1970.2, 1967 will form an entry point for selling. Support levels: 1959.8 Resistance levels: 1967, 1970.2 Situation is not easy. The price is heading for resistance (retest) after the trend break. Most likely the price will continue to fall from the resistance, but it is necessary to monitor the behavior of the price near this area. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
21
GBPAUD → False breakdown and upward movement to retestFX:GBPAUD continues to form a bullish trend, as the high timeframe tells us. The price makes a false breakdown of the moving average and returns to the range. The price has returned to the ascending price channel and may form a retest or consolidation above the support level in the nearest future. At the moment the price is squeezed within the flat 1.9184 and 1.9035. Most likely the price has the upper boundary of the range as a target. An intraday retest of resistance may follow for a breakout. Since we have an uptrend, a false breakout of support and MA-200, the market is ready to continue rising. Another breakout attempt at 1.9184 may be successful and the price may show active growth. Support levels: 1.9035, trend support Resistance levels: 1.9184 I expect a retest of resistance with a subsequent breakout. Medium-term target: 1.9393. Regards R. Linda!
Long
by RLinda
13
GOLD → False breakout 0.618. What should we prepare for? OANDA:XAUUSD on the daily timeframe shows an interesting situation, which can be confusing for those who set big targets for the price rally, which ended with a false break of resistance 1981.6 The price within two weeks is forming a strengthening , investors and whales were talking about big plans, but at the same time the dollar reversed to appreciation and this situation formed a false breakout of a key resistance level on the gold chart. Since at the moment the price is in the range of 1981 - 1935, most likely after the retest of resistance the price may go down to the support. Three bearish candles are formed, each new candle closing below the previous one. The chart gives us a strong bearish wave. In the coming week a lot of strong news is published and the market may be quite shaky. It is worth paying attention to: FOMC Statement Fed Interest Rate Decision FOMC Press Conference ECB Interest Rate Decision (eur) GDP Initial Jobless Claims Core PCE These speeches and press releases can give a medium-term view of the market behavior. The price tested 0.618 fibo and the market did not allow gold to pass this area. Consolidation is formed in the red zone, this fact can be interpreted as a readiness of the market to decline. Regards R. Linda!
OANDA:XAUUSD
by RLinda
22
Bitcoin - Secret pattern no one talks about! (insider info) This secret parallel channel on the LOG scale is very important for your trades because you want to take profits if the price reaches the top of the descending channel! This is a dynamic resistance, so the trendline changes over time, but currently the resistance is around 39K. 39K is a strong level not only because of this channel but also because of the 0.618 FIB retracement of the previous huge downtrend and the POC of the previous market structure (volume profile). This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately! What I expect is for Bitcoin to reach the 39K level and then make a significant correction. This correction should be pretty deep. Because we will be retracing the first Elliott impulse wave, the 0.618 FIB is a classic buy opportunity, and it's around 21k. After we reach 21K, I expect Bitcoin to pump heavily to the 69K all-time high resistance. This is indeed a strong level as well, so this could be the peak of the 3rd Elliott impulse wave. The 5th wave is expected to end around 100k–110k in 2025. This is my gameplan; I don't know what yours is, so let me know in the comment section right now! Set up notifications for my ideas so you will be alerted in your email when I publish new analyses immediately! You may say that 110k is not enough and that Bitcoin should do much more than that. Yeah, I agree with you, but we need to be realistic. Bitcoin is already pretty big and has a large market capitalization. What's more, on the chart, you can see the major parallel channel on the LOG scale that started in 2017, and I don't think the bulls want to make some crazy parabolic move above this channel! Thank you, and for more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
99
BTCUSD → Expected correction within consolidation BITSTAMP:BTCUSD forms a false breakdown of the key resistance after which the format of the movement passes into the correction phase. The price is consolidating between 0.236 and 0.382 fibo Paying attention to the chart we see the continuation of the ascending price channel formation. The price indicates a rather high interest on the part of buyers, as the price after long consolidations continues to strengthen and does not give deep corrections. A correction is forming within the new movement, which may reach 0.382 fibo in the near future. The rebound within the bullish trend can follow both from this level and from the level below - 28474. The trend at the moment is bullish, although recently the price has not reacted much on the hype around BTC-ETF, but the potential is still on the side of buyers. The hash rate continues to grow, glassnode in its reports claims that the price is coming out of the capitulation mode, SEC accepts applications of funds for spot BTC-ETFs for consideration - these nuances give some bullish prerequisites. Support levels: 0.382, 28474, 0.618. Resistance levels: 0.236, 30575 I expect the correction to continue, I don't think this movement will last long. Another retest of the nearest strong resistance will provoke a new impulse. In the medium term I expect a retest of 30575 and growth to 34000. Regards R. Linda!
BITSTAMP:BTCUSDLong
by RLinda
8
ETHUSD → Global ascending triangle. Retest 2020BINANCE:ETHUSDT is forming an interesting situation. For more than a year the price has been trading under the strong resistance of 2020. After a while we begin to realize that this level is the upper boundary of the ascending triangle. This pattern can be interpreted as consolidation of potential by dynamic buyers with the purpose of possible overcoming the resistance and reaching new tops. A symmetrical triangle has been forming for several months as well. The price is in consolidation and on the background of bitcoin correction the price may form a decline to the support of the pattern. MA-200 clearly outlines the ascending support of the bullish triangle, which only strengthens the essence of this formation. In the medium term, the price may either make a false breakdown of the local support line or decline and retest the MA-200 and trend support. The further target is growth with the aim of breaking through 2020 and strengthening to 2450. Support levels: 1875, 1830, 1800 Resistance levels: 1938, 2000, 2020 I expect the correction to continue to the nearest support levels from which a reversal and resistance retest may follow. Regards R. Linda!
Long
by RLinda
6
GOLD → Dollar allows gold to break trend support OANDA:XAUUSD is weakening while the dollar is starting to strengthen. The only fundamental factor affecting this is inflation, which the FOMC is still trying to combat XAUUSD is breaking uptrend support and forming a retest of flat support at 1959. There is a key liquidity zone below this boundary that could become interesting for the market, and price is likely to enter this zone on the backdrop of what is happening. If the price fails to reach this mark on a retest of 1959, a rebound will begin to form, which could reach one of the key areas of resistance before a further (possible) fall as part of a counter-trend correction. On D1, price is forming a false resistance breakout and on H1, an H&S is forming which hints at a possible decline. Within the flat market, 1935 level may be interesting (but it is not accurate). MA-50 is resistance and MA-200 is support, which may be tested in the near future Resistance levels: 1965, 0.236, 0.382 Fibo Support levels: 1959,8 I expect a correction to resistance for a possible retest, followed by a fall to flat support and the possibility of further declines. Regards, R. Linda!
OANDA:XAUUSDShort
by RLinda
21
GBPUSD → A FB and a retest of 0.618 could send the price to 1.26FX:GBPUSD forms a false breakdown of a strong resistance area. A downward correction is formed against the background of local strengthening of the dollar index On the chart, the currency pair retests the key support line at 1.2848. A pre-breakdown consolidation is formed against the background of correction. The price overcomes the area of 0.5 Fibo and is directed to test 0.618. If the currency pair breaks 1.28000, the correction format will turn into a change of trend and the price may fall to 1.26000 within the upward price range. Regarding 1.2848 there are two possible scenarios, a false breakout with subsequent growth to 1.3000. Or breakout and price entry to 1.2848-1.26800. In this case our target will be the support. MA-50 acts as resistance, while MA-200 is preparing to take a retest from the price Resistance levels: 0.5 fibo, 1.2965 Support levels: 1.2848, 0.618 fibo. I expect the formation of pre-breakdown consolidation and possible breakout with further price decline to 1.26800. Regards R. Linda!
Short
by RLinda
9