Gold: Consolidation is calling for more upsideGold has slowed down in the last few months espeically since China announced they didnt buy any gold back in May. But from sentiment perspective, retracement has been expected as we saw a market in the fifth wave of an extended wave 3 after breaking to new ATH. Well, what we see now is then a corrective pause which can be coming to an end here in wave 4 as price breaks above 2370, and even touches 2387 levels. So ideally, thats a bullish triangle, possibly already finished, so be aware of more upside after current subwave two retracement.
Alternatively, even if thats wave (D) of an even longer and more complex triangle, there will be expected more gains after wave E.
Support on dips are at 2320-2340.
Keep an eye on US inflation figures tomorrow. If inflation softens, dollar can drop, gold will rally. If inflation is hot, and even if gold drops, I think gold can stabilize soon as metals and commodities can be seen as an inflation hedge.
Grega
Bullishtriangle
TRADE ALERT - LONG MATIC, SAND, AVAXTraders,
As stated in an earlier post, BTC held my long-standing neckline at 25,200 and then absorbed the 26,500 price. With the hidden bullish divergence spotted on the RSI, the price now favors the bulls slightly. BTC.D continues to trend down and this gives the alts a good chance to follow the lead of BTC. So, as promised, I have begun to pick through a few entries that look promising. These entries appear to be ready to follow BTC because they mimic the hidden bullish divergence on the RSI.
Additionally, you will see they are all ready to exit a bullish descending triangle. All entries have a r/r of around 4/1. All entries will be shooting for the 200-day moving avg. as a target to start. As usual, this is subject to change pending price, time, and pattern scenarios and usually does. Keep an eye on my spreadsheet for those updates.
The first entry I have chosen is Matic. Entry .52 Target currently .82 and SL .46. R/R 4.1
Second SAND. Entry .30 Target .48. SL .25 R/R 3.8
Third AVAX. Entry 9.12 Target 14.11 SL 8.00 R/R 4.6
I will stick to my SLs and may adjust/exit should that RSI dip below the Hidden Bullish Divergence lines I have drawn.
None of this constitutes financial advice. I am an entertainer playing a public game and am simply demonstrating how I play.
Best,
Stew
Marathon Digital Symmetrical Breakout?Mara reached a new high and fell as expected. It started trading into a wide falling wedge out of a bullish uptrend. I would think other than Bullish if it was knifing down.
Found consolidation level at 17-17.60 area after double bottom bounce at 16.50ish and looking for a possible break to the upside out of a bullish symmetrical triangle.
With bit coin holding 30,000 level.
We could see it retest and/or reclaim $20 soon.
Trade Responsible,
#TradeTheWave 🏄🏽♂️🌊
EUR/AUD PRICE ACTION UPDATEThe pair still in consolidation zone. I can See now a bullish triangle is forming and the price is testing the resistance level: We have now two scenarios. If the price breaks the resistance and pullback then buy. other wise if the price returned back to test the support, just wait for a break down to sell.
I'm now more to buy than to sell. I have marked my targets for both sell and buy scenarios.
Good Luck, and trade safe!
AAPL | 4-Wave Triangle Analysis | 5-wave Projection +50%Price action and chart pattern trading signal
> A bullish scenario 4-wave triangle with a local bullish pennant breakout in triangle formation - D-wave uptrend
> price bullish momentum SMA20 X SMA50 and MACD X baseline
> Target 5 wave @ bullish pennant pattern = 1.618 extension of current 4-wave +50++% from expected E-wave support line.
> Stoploss @ C or A wave position -10%
> Risk reward ratio: 5:1
Always trade with affordable risk and respect your stoploss, nothing 100%.
✅WHEAT WAIT FOR BREAKOUT|LONG🚀
✅WHEAT is trading in a local uptrend
And the pair has formed a local
Bullish triangle pattern
So IF we see a breakout
Then the price will go further up
LONG🚀
✅Like and subscribe to never miss a new idea!✅
Chilliz ascending triangleHello traders!!
Here we have a 4h chart of CHZ with the price situating in a decisive zone, this is a strong resistance, breaking it will mean that chz will blast and go to higher but if it fails to break out this level it will be a bearish sign and the price will tend to reach lower levels.
At the moment in my opinion a break to the upside is more likely due to the ascending triangle printed in chart witch is a bullish pattern that and signals a book long.
I don't really expect it to go till 0.24$ now due to the btc dominance breakout but it is a possibility for it to be reached in longer term the objective is 0.167$.
I will enter a long position at 0.134$ with stop loss at 0.127$ and take profits at 0.154$ 0.167$ 0.193$ and 0.24$.
I will be glad to see what do you think in the comments and if you agree with me push the like button, it helps a lot.
Regards and happy trading.
FIL LONG SETUPMarket just broke a a downtrend and formed a bullish triangle pattern and broke it upwards and closed 3 candles above the pattern, now it is doing a retrace if after a retrace we get a candle closed above 26.60 zone that is our signal to entry
Entry: 26.60
Invalidation: 23.58
Both targets are at liquidity zones.
Target 1:33.58
Target 2: 41.30
AGRI BULLISH TRIANGLEMarket formed a bullish triangle pattern and is close to breaking out we are expecting to bounce off of a 50% fib zone and break out trough the top and reach the top of triangle.
Indicators:
AROON: Is showing bullish momentum gain (Orange line crossed blue one)
Entry: 3.34
Invalidation: 3.01
Target: 5.10
Next bullish move in DeFi Chain?From a purely technical standpoint - this chart pattern is bullish. If you ignore the ugly spike on November 11th, this is a nice symmetric triangle which, as it occurs in a bullish trend, is more likely to get resolved to the upside.
Of course, it all depends on what BTC is doing, but the likelyhood that the trend will continue in the 1st half of next week is a bit higher.