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Candlestick Analysis

GBP/AUD: Topping Signals Flash After Relentless RallyThe bearish pin candle on the GBP/AUD daily chart on Tuesday is a warning sign for bulls after a more than seven big-figure rally in less than a fortnight. RSI (14) is flashing extreme overbought conditions, sitting at levels that have marked major market tops in the past. Fundamentally, the move stacks up—improved Eurozone optimism from increased military spending and weaker energy prices is a tailwind for the U.K., while ongoing U.S.-China tariff skirmishes weigh on the AUD, overshadowing early signs of an Australian economic recovery. But that’s all baked in now, leaving GBP/AUD vulnerable to downside without fresh catalysts to push the narrative further. If the pair nears Tuesday’s high, it could offer an entry point for those looking to fade the move. Stops could be placed above that level, targeting an initial pullback to 2.0300—the December 2024 high. From there, traders can reassess whether to aim for 2.0150 or square the trade. Good luck! DS
Short
by FOREXcom
SOL/USDT 2H Chart🔹 Asset: Solana (SOL/USDT Perpetual Futures) 🔹 Timeframe: 2-Hour 🔹 Exchange: MEXC 📊 Market Overview: Solana has bounced from a key support zone after a strong breakdown, signaling a potential shift in momentum. The structure has confirmed a Break of Structure (BOS), which may lead to further upside movement before facing resistance. 📈 Key Technical Insights: ✅ Support Holding: The price has reacted well to the $130 - $135 support zone, leading to a bounce. ✅ Mini Reversal Area ($150 - $155): This zone could act as a minor resistance before a deeper retracement. ✅ Main Reversal Area ($165 - $175): A significant supply zone where selling pressure may increase. 📌 Trading Plan: 🔹 Bullish Scenario: If SOL holds above the support zone and breaks past the Mini Reversal Area ($150 - $155) with volume, a further move toward the Main Reversal Area ($165 - $175) is likely. 🔹 Bearish Scenario: If SOL struggles to break past $150 - $155, a retest of the support zone ($130 - $135) could happen. 🔹 Risk Management: Watch for rejection wicks or bearish divergence before entering short positions. 📢 Final Thoughts: 📌 A strong move above $155 could trigger further upside momentum. 📌 Traders should watch price action closely at the marked reversal areas. 📌 Be patient, wait for confirmation, and manage risk accordingly! ⚡ Trade smart and stay ahead of the market! 🚀
Long
by MangoMan4
BTC/USDT 15M Chart🔹 Asset: Bitcoin (BTC/USDT Perpetual Contract) 🔹 Timeframe: 15-Minutes 🔹 Exchange: Binance 📊 Market Overview: Bitcoin has shown a strong bullish impulse after breaking key structure levels, confirming a shift in momentum. However, the price is now approaching a high-probability reversal area, where a reaction is expected. 📈 Key Technical Insights: ✅ Major CHoCH (Change of Character) confirmed, marking a potential trend shift. ✅ Mini CHoCH holding as local support, maintaining short-term bullish momentum. ✅ Reversal Area (Above $90,000): This zone represents previous liquidity zones where sellers could step in, leading to a correction. 📌 Trading Plan: 🔹 Long Entry Confirmation: If price retests the Mini CHoCH ($88,000) and shows bullish rejection, another leg up is possible. 🔹 Short Reversal Setup: If price reaches the Reversal Area ($90,000 - $91,000) and forms bearish confirmation patterns (e.g., engulfing, wicks, or volume divergence), a short trade targeting $87,000-$86,000 would be ideal. 🔹 Risk Management: Wait for confirmation before entering trades—false breakouts are possible. 📢 Final Thoughts: 📌 Breakout traders should be cautious of liquidity grabs. 📌 Reversal traders should look for bearish confirmation in the highlighted area. 📌 Price action confirmation is key before taking any position. ⚡ Stay sharp, manage risk, and trade smart! 🚀
Long
by MangoMan4
EURGPB Wave Analysis – 4 March 2025 - EURGPB reversed from support area - Likely to rise to resistance level 0.8300 EURGPB currency pair recently reversed from the support area set between the multi-month support level 0.8235 (which created the Double Bottom in December) and the lower daily Bollinger Band. The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Doji which signalled the strength of this support area. Given the strength of the support level 0.8235 and the strongly bullish euro sentiment seen today, EURGPB can be expected to rise to the next resistance level 0.8300 (top of the previous correction ii).
Long
by FxProGlobal
NZDJPY Wave Analysis – 4 March 2025 - NZDJPY reversed from long-term support level 83.15 - Likely to rise to resistance level 85.00 NZDJPY currency pair today reversed up exactly from the long-term support level 83.15 (which stopped the sharp downtrend at the start of August of 2024 as can be seen below), standing near the lower daily Bollinger Band. The upward reversal from this support zone will form the daily Japanese candlesticks reversal pattern Hammer – if the pair closes today near the current levels. Given the proximity of the strong support level 83.15 and the oversold daily Stochastic, NZDJPY currency pair can be expected to rise to the next resistance level 85.00, former support from the start of February.
Long
by FxProGlobal
GBPUSD BUTGBPUSD in an uptrend on a higher timeframe. Entered a BUY earlier with 1:3RR on a pullback, there was a Pin Bar candle rejected at 0.5 Fib Level. My SL right now just right below the Strong Bullish Candle. (about 1/2 of my initial risk) For those who are already in a BUY position and looking for a Take Profit level... around 1.277 seems like a good area. It also aligns with 1.272 Fib level. Manage your trade well and Best of LUCK! Sorry, wasn't able to published at the entry point...
Long
by JamesB_Trading
1
NZD/USD Sell Setup – Cup & Handle Pattern Confirmed**📉 NZD/USD Sell Setup – Cup & Handle Pattern Confirmed! 🚀** NZD/USD is showing a **Cup & Handle pattern**, with **EMA50 confirming a strong sell signal**. This setup suggests potential downside movement. ### **🔹 Trade Details:** ✅ **Sell Entry:** **0.56050** ✅ **Stop Loss:** **0.56650** (60 pips above entry) ### **📊 Take Profit Levels:** - **TP1:** **0.55650** (40 pips down) - **TP2:** **0.55250** (80 pips down) - **TP3:** **0.54850** (120 pips down – final target) ### **📌 Trade Strategy:** - **EMA50 confirms the bearish trend** – strong sell confirmation. - **Proper risk management is key** – use stop loss to protect capital. - **Monitor price action** – if momentum stays strong, TP2 and TP3 could be reached. 🚨 **Trade Setup is Active! Follow your risk management plan and execute wisely!** 📉🔥
Short
by TradingStar090
GBPUSD Week 10 Swing Zone/LevelsWeek by week pinched pips keeps increasing. As highlighted last week, Weekly zone and levels are mapped based on previous week daily high-low relationship (ie Monday HL in relation to Tuesday in relation to Wednesday HL, etc). Using the 5min candle for entry keeps the SL small btw 10-15 pips and TP ideally to the next level. Some swing levels are only marked after price interacts pre-calculated levels. Two possible road maps for the week, a or b? As always price action determines trades.
Short
by PinchPips
2