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Ascending Channel

GBPAUD → The start of correction within the up-trend is possibleFX:GBPAUD continues to strengthen within the framework of the uptrend. The price updates the local maximum and continues to seek trend resistance The currency pair may make a correction against the resistance of the ascending channel. The price may reach the upper boundary of the ascending range and form a false breakout or other traps for players. Price consolidation or a reversal setup below the ascending line can be a signal to start a correction. If a correction is formed, the market will have the potential to decline to 1.95613 and even to 1.93924 Moving averages indicate a strong bullish trend. Support levels: 1.95613, 1.93924 Resistance levels: 1.96200, trend resistance I expect growth up to the upper boundary of the trend with the subsequent rebound and formation of correction to the support Regards R. Linda!
Short
by RLinda
11
XRP - Time to buy for a 500% profit! (now) XRP is currently retesting a major trendline from 2022, and this retest is exactly where you want to buy this coin! This trendline is also part of an ascending parallel channel on the daily chart, which strengthens the support. What's more, we have had a strong 0.618 FIB retracement on the LOG scale. We hit this level almost to the dollar, so if you bought at this level, congratulations! I share my trades transparently and post trade setups privately. We also need to take a look at the volume indicator. Clearly, since the downtrend finished in 2022, the bullish volume is overwhelming. That's definitely positive, and XRP could reach much higher levels in the next few weeks and months! Now the most important question is: what is the profit target, and where do I take it? To answer this question, we need to take a look at the market caps of XRP and BTC. The current market cap of XRP is $33,134,349,311 and that of BTC is $574,121,632,744. The market capitalization of BTC is 17x higher than XRP! This means that XRP could theoretically make a 1500% profit and still be number 2. But be optimistic and stay with a 500% profit because it's possible that XRP will go through a 1-year consolidation period before another huge pump. So you want to use your money on something else if it happens. From the Elliott Wave perspective, this is really a strong setup. We have a nest (1-2-1-2), which is a bullish base. Now we are waiting for the 3rd wave to finish. XRP won the SEC case recently, and that caused a 100% pump in a few days. New developments are good and positive, so I don't see any reason why XRP should go down. We will take a look at all profit targets from a technical perspective in the next update on this post tomorrow. Thanks for reading! I hope you learn something new, and let me know your thoughts in the comment section!
Long
by UnknownUnicorn2537518
115
GOLD → The market is ready to continue its declineOANDA:XAUUSD continues to form a descending price channel. On Thursday a candlestick pattern is formed indicating the imbalance of forces in favor of sellers. This week is published quite a lot of interesting news. It is worth paying attention to: 15.08 1) Core Retail Sales (no data, the previous ones were bearish) 2) Retail Sales (expected to strengthen) 16.08 1) CPI (expected to decline) 2) FOMC Meeting Minutes 17.08 1) Initial Jobless Claims (no data, previous ones were bearish) 2) Fed MI In general, bad indicators for the dollar may strengthen the interest in gold, but again, we should not forget that news is a complex trading instrument. From a technical analysis perspective, gold is approaching the strong 1902-1900 liquidity area. Last week's session is closing very close to local lows, which can be interpreted as the market's willingness to continue to gain momentum for further declines. A strong bearish trend dominates the market. Local support: 1912.5, if this line is broken, an impulse to 1900 is possible, but a rebound should be expected from the mentioned support, most likely a rebound may follow during the news. Support levels: 1912, 1902, 1900 Resistance levels: 1915, 1920, 1935 Gold continues to decline, and most likely, from the opening of the new week the price may continue to fall, but in the second half there may be a rebound and local contrend strengthening. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
29
Bitcoin -> Bullish Move Ahead!Hello Traders and Investors , my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Bitcoin 💪 A couple of months ago Bitcoin perfectly retested and already rejected the previous cycle high from 2018 and also the 0.786 fibonacci level so the recent rally was quite expected. You can also see that Bitcoin is approaching the weekly support trendline of the obvious rising channel so also from a weekly perspective everything is pointing towards more continuation towards the upside. I am only waiting for daily market structure on Bitcoin to shift back to bullish and if we see a break and retest of the current resistance level then I also do expect another daily bullish rally. Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint📈 Thank you for watching and I will see you tomorrow! My previous analysis of this asset:
COINBASE:BTCUSDLong
by basictradingtv
32
💱USDJPY - Bounce from the level before resistance breakout USDJPY is testing the resistance of the ascending channel and the resistance of the 144.897 range. On the local timeframe, the price is preparing for a breakout and further growth TA on the high timeframe: 1) A retest after a month, and a quick approach to the level may give a bounce down, for example to 143.7 2) Price has stopped and is forming a decrease in volatility, most likely the consolidation phase begins, another retest of resistance may follow. TA on the low timeframe: 1) Price is sandwiched between rising resistance and rising support line, but at a less acute angle. 2) Buyers continue to make an onslaught on the resistance 3) The price may break the resistance after the next retest. Key support📉: 144.3, 143.7 Key resistance📈: 144.69, 144.89
Long
by AndeWave
8
NZDUSD → A bearish wedge could lead to a rebound FX:NZDUSD is declining in the format of a bearish wedge. Within the pattern, the price may test the key support, but what to expect from the price further? The support level of 0.59939 is the lower boundary of the global flat. There are no signals to break the support now, a retest of the level is formed after 2 months, the liquidity area will not allow to break this level. After the breakout of the support of the wedge will be followed by a retest of the indicated support level 0.59939, but I do not expect a breakout of this support. With high probability a rebound from the support may follow and the price may form a bullish momentum to the 0.61330 area. The moving averages formed a bearish signal earlier, which has already worked out, at the moment the lines indicate a bearish trend. Support levels: 0.59939 Resistance levels: 0.60692 I expect a retest of the support followed by a bounce up to 0.60692 or 0.61330. Regards R. Linda!
Long
by RLinda
8
Bitcoin - Explosive breakout, watch this bull flag! Bitcoin is forming a bullish flag pattern or a wedge pattern on the daily chart, and that's why we can expect an explosive breakout in the immediate short term! The question is, when is it going to be? I would say this or next week, because the price could still touch the upward yellow trendline. But the decision will be very soon! Bitcoin is bullish because the price is above the yellow trendline and above the 200-day simple moving average. They are pretty close to each other. This moving average is considered strong support / resistance by huge institutions and hedge funds. It can also be a 200-week MA or a 200-month MA. They are pretty good. The target of this bullish flag / wedge is the white trendline. Make sure you take profit here because we could crash from this point! 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. Usually September is a bearish month, but we still have almost a month. Bitcoin usually pumps in 1-3 straight candles when no one is expecting it. It can be really fast! XRP also reached a strong support that can send it to higher prices, specifically 1.7 USDT per coin. It's a good time to buy it! I remain bullish on BTC, but on the intraday chart, we could still have some imbalance and wicks to take liquidity before going to 32k. Let me know in the comment section what you think about BTC. I look forward to your comments! Thank you, and for more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
133
BTC Swing AnalysisHi friends. Today im going to take a brief look at Bitcoin. According to New Cryptocurrency market Catalyst , I mean launching PayPal Stable coin , we can look at BTC chart Technically better. So lets take a look: 1.After reaching price to the Middle line of drawn channel , it failed to break it. so went approach lower channel line that overlapped with a strong support level(28000-28800 level) 2.When we reach this level , an Engulfing candle appears in 4H timeframe. 3.We have a strong fundamental Catalyst about PayPal stable coin(Remember that past Bullrun to 67000$ level starts with accepting Bitcoin by PayPal) 4.If we pass this area , the first target is 31800 and after that we have a strong resistance at 36500 level. 5.Classically , price is shaping a flag pattern that its target is the middle line of growing channel in around 33000 level. Hope you enjoy my view in Bitcoin. Share me your opinion in comments. What do you think?
Long
by TraderAmin-KZ
6
GOLD → Waiting for a trap before a further fall OANDA:XAUUSD is still testing trend support and testing the market reaction. The price is not able to grow at the moment and continues to update local lows On the futures market, the price failed to pass through the 2000 area, on the spot market, the situation is simpler - we see a continued decline in price. The price is trying to get out of the descending price channel, but apparently gold is in the liquidity area, which does not let the price below 1930. A global upward shakeout may follow before a further decline. Or, if the price overcomes the resistance of 1943, then the market will enter a recovery phase and strengthen the price. The potential for growth to 1954-1970 will be opened. At the moment consolidation below the support is forming - a signal for a possible sale. Medium-term outlook 1927-1970 Support levels: 1930, 1927.5 Resistance levels: 1943. 1954 I expect a shakeout or false breakdowns of the local resistance and if the price continues to consolidate below the support, the market will give us a drop. BUT! If the price returns beyond 1943, the growth will start within the descending channel Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
22
GOLD → Support retest indicates buyer weakness OANDA:XAUUSD has weak buying power at the moment. There is no update of local highs, the price is returning to the support retest. The probability of support breakdown is increasing On the daily timeframe the price tried to test the strong resistance 1939, a false breakdown is formed and consolidation below the level. After this phase we saw a local distribution and another retest of the downtrend support. The price is testing another support at 1935.8, consolidation below the level will create a bearish potential and in the short term the price may form an impulse to 1927. Support levels: trend support, 1935.8, 1927.5. Resistance levels: 1943.3, 1954. The probability that the support breakout will be true at this point is very high, the above described prerequisites for why the bulls are weak. On these bases, I am prioritizing a decline Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
25
GBPUSD → Pin-bar and reversal pattern on the support line FX:GBPUSD on the daily timeframe is forming a situation that suggests a buyback, at the same time a candlestick pattern and a false breakout are forming The currency pair is in the format of the ascending price channel. Earlier support was tested and on the background of news the market bought back the fall at 1.36 which is quite a strong reaction. After the local rally, the price is forming a correction, most likely to support or retest, which may be followed by a growth phase, coinciding with the trend direction. Moving averages form a cross and play the role of resistance, it is worth paying attention to the support area of the uptrend. Resistance levels: 1.27275, 1.28484 Support levels: 1.26800, trend support, 1.26065 I expect the end of correction in the area of uptrend support with the subsequent strengthening of the price within the uptrend. Regards R. Linda!
Long
by RLinda
14
EURUSD - Huge uptrend is ready! (prepare longs) EURUSD is still extremely bullish because the price is above the 200-day daily moving average and also above the major white trendline. Trend is your friend, so we want to take only longs! The price is also inside this ascending parallel channel, and I expect another push to the upside to test the upward trendline of the channel. It's possible to bull-break this channel! In the last 2 weeks, EURUSD has been going down, but it's just a re-test of the previous 2 trendlines. We needed this pullback for continuation to the upside. The retest was a great buying opportunity, but of course you can still enter the market at the current price if you find a good setup on lower timeframes. 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. When trading EURUSD, we need to consider the DXY index. This index is pretty bearish, and I will probably do an analysis on it as well, so make sure you follow me for more updates! The MACD indicator tells us that the trend is rolling over from bearish to bullish again. The histogram is ticking to the upside, which is of course a bullish sign. In conclusion, I am bullish on the euro, and I would take only longs for the next few weeks! Thank you, and for more ideas, hit "Like" and "Follow"! I post ideas mainly on BTC, so if you want more EURUSD ideas, support with like and comment, so I know I should continue!
Long
by UnknownUnicorn2537518
71
GOLD → FB of flag support. Consolidation near resistance OANDA:XAUUSD continues to form a descending price range after the breakout of the bullish trend. A "flag" pattern is forming within the new channel, a false breakout was made on Friday There is not much important news in the coming week, but it is worth paying attention to Thursday and Friday, the reports may provide insight for the medium-term outlook. Bottom right chart - a flag is forming against the background of the upward momentum. On Friday, the price makes a false breakout of the support of the figure and in the first half of the new week there may be a strengthening of the price and growth to the resistance area. Within the global descending channel price is forming consolidation near resistance, most likely there may be a direct retest of the descending resistance in the area of 1858-1863, there may be an attempt to breakout. BUT again, if sellers are strong, and if you look at the chart, the bearish scenario is developing at the moment, a fall from the channel resistance, a retest of 1935 and a further fall to 1902 may follow. The price is in a range, it is worth paying attention to such levels as: MA50, trend resistance, support 1935.5 Regards R. Linda!
OANDA:XAUUSD
by RLinda
14
BTCUSD → A logical correction will test a strong support area BITSTAMP:BTCUSD continues to form a global ascending price channel. The actual counter-trend correction at the moment does not indicate any change of trend, an adequate reaction to the strong resistance area formed back in 2021 is being formed. The price on the daily chart is forming a local support line 28850, a pre-breakdown consolidation and false breakdown is formed, there is no reaction in the form of a rebound, and the price continues to form a squeeze to the support. In the near future 28850 may be broken and the price will test 28450, a false breakdown is possible. Also within this correction the price may test the support of the ascending triangle and 200-day moving average. The price may technically decline in order to purchase the asset at more favorable prices. The cryptocurrency market emphasizes more on fundamentals than on technical analysis, it plays a secondary role in this partnership. Crypto players are waiting for some news to activate the movement in one direction or another. Interesting nuances recently: 1) Approval of the spot BTC-ETF will lead to billions of dollars of non-investment inflows into the market 2) The government has stepped up BTC protagging for June-July 3) Mainers collectively stopped selling and started accumulating BTC. Their reserves are growing 4) Minimal liquidity is accumulating strong consolidation. A surge in volumes may follow in the near future Strong support levels: 28850, 28450, figure support, MA-200 Strong resistance levels: 29650, 30575, figure resistance. This correction is a logical move in the market. The price can't grow all the time. I expect bullish activity after retesting the support area. Regards R. Linda!
BITSTAMP:BTCUSDLong
by RLinda
23
GOLD → Consolidation below support ahead of NFP. Trap? OANDA:XAUUSD has been consolidating below the previously broken descending channel support for two days. From the basic fundamentals, this formation suggests a strengthening sentiment for further declines, but there are always nuances to it Analysts were expecting bearish news for the dollar, which was previously published, but the index is showing a bullish bias, suggesting an improving economy. Fitch downgraded the long-term rating of the US to AA+ from AAA This is not good news for the dollar, but still: The U.S. was downgraded to AA in 2011, which caused the market to fall hard, but earnings and economic conditions were different at the time. This downgrade by Fitch is not fundamental as the economy is growing and profits are rising to service this debt. In terms of technical analysis, after a rally to the 1980 area, a correction in the format of a flag-like descending channel is forming, but at some point things don't go according to plan and price breaks the channel support, forming a consolidation and forming liquidity before further declines. Ahead of NonFarm Payrolls and Unemployment Rate publication, analysts are expecting bearish data, but based on earlier press releases, the numbers could be the opposite, which could provide new bullish potential for the dollar, and gold could fall to 1900. Support levels: 1933, 1930, 1927, 1912 Resistance levels: 1943, 1954 In priority I expect the price to fall to the lower support levels, but the price can break the situation if the expected fundamental data is confirmed. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
21
Bitcoin prediction 2028 (Fibonacci channel, must know)! This is my projection for the next 5 years. Bitcoin always rapidly grows after the halving event. But around 16 months after the halving event, Bitcoin started to crash significantly. On the chart, we can see a very important Fibonacci channel on the LOG scale. The 0.618 FIB is always a strong level, and bitcoin hit it almost to the dollar in 2022. Take a look at it! We deeply need to keep this Fibonacci channel in mind. The strongest FIB levels are 0.618 and 0.382. 0.618 + 0.382 = 1. Bitcoin loves these Fibos. Please do not expect some big parabolic phase to reach 500,000 USD in the next few months or years. This is not going to happen because you are too late for the exponential party. 100,000 - 120,000 in 2025 is a realistic target! Bitcoin is a good investment, and you can trade the major cycles. Buy low, sell high. It's easy to say, but it's not that easy for the majority of market participants. As per my calculations, the price of Bitcoin will be 1 million USD in 2044, which is 21 years ahead. In approx. 2140, all Bitcoins should be mined, and there will be no new BTC mined at all. Miners will receive rewards from the transactions of chain users. 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. Thank you, and for more ideas, hit "Like" and "Follow"! Bear markets and crashes: 2011 - 93.75% 2014 - 86.94% 2018 - 84.22% 2022 - 77.57% 2026 - 71.67% ?
Long
by UnknownUnicorn2537518
119
GOLD → Support breakout & consolidation. Fall after the shake-upOANDA:XAUUSD is breaking the range support, and on the daily chart the price is testing one of the key support levels. Here the candlestick analysis indicates the preconditions for further decline The price is breaking the support of the descending range. Consolidation of the price below the previously broken support is formed. Since the price is forming consolidation, most likely, while the market is gaining liquidity, false breakdowns (shake-ups) are possible relative to resistance and support of the conditional boundaries. On the daily timeframe, the price is testing 1935. The price on Wednesday closed quite close to the level, which indicates that the market is not ready to end the movement, it may continue. Important news is published today. It is worth paying attention to: Initial Jobless Claims, S&P PMI, Non-Manufacturing PMI, these are the nuances we dealt with on Sunday. Moving averages act as resistance Support levels: 1932.9 Resistance levels: previously broken trend support, 1938.5, 1943 I expect the decline to continue based on candlestick and technical analysis. The market has broken support and is most likely preparing for a continuation of the decline. But there is news ahead, it may change the situation significantly Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
33
GOLD → Resistance pressure on D1. Waiting for news OANDA:XAUUSD is forming a descending range after breaking the local trend. On D1, the chart is showing strong pressure from resistance and is forming a descending triangle which could give a strong fall, but there is news ahead... The price is testing the support at 1943 with the last move, making a false break and thus updating the local low to 1941.29. Based on the situation on the local timeframe and on the D1 we can say that the sellers are stronger, the fundamental background of the last trading week adds some confidence for this. Today ADP NonFarm Employment Change is published ( analysts expect a decline in the indicator, therefore the dollar may react negatively ), this press release can give us a rough mood for Thursday and Friday ( INJ, ISM, Nfp, UR are published ) Still, technical analysis initially lays a large percentage of the expected movement, even before the publication of the news and at the moment there is a preponderance of forces in the direction that the market is preparing for a fall. When enough weighty news is published, this imbalance may shift and in this case the price may break 1954, 1960 and head towards 1974 Support levels: 1943 Resistance levels: 1954, 1960 In priority I expect a decline to 1943 with the subsequent breakout, but on the background of news the price may act unpredictably and break the resistance. Watch the price reaction. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
29
💱USDJPY - Correction before further growth USDJPY is strengthening, making a false breakdown of local trend resistance. A correction towards the key support area is being formed, a rebound is likely to follow TA on the high timeframe: 1) False break of 142.25 may form a rebound to 140.7 2) The price is updating the local maximum, we should not expect a strong fall, as the market has a key target of 144.69, most likely in the medium term we will see growth to this mark. TA on the low timeframe: 1) A bearish correction is forming. This movement may test both 141.9 and 140.7. 2) There is no talk of a trend change, there is a strong bullish trend on the chart and a smooth transition into consolidation is forming. 3) Locally we have a bullish trend and in our case we should look for support levels to open long positions. Key support📉: 141.95, 140.73 Key resistance📈:143.00
Long
by AndeWave
5