Nvidia - A Correction Of -50% Is Starting!Nvidia ( NASDAQ:NVDA ) is reversing at a strong resistance:
Click chart above to see the detailed analysis👆🏻
Last month Nvidia already corrected about -35% but managed to close with an indecision doji candle. However, previous cycles, the recent rally of +1.000% and the fact that Nvidia is retesting a strong resistance trendline all suggest that Nvidia will still move much lower soon.
Levels to watch: $100, $55
Keep your long term vision,
Philip (BasicTrading)
Channeltrend
NOTUSD / UNDER DOWNWARD PRESSURE - 4HNOTUSDT / 4H TIME FRAME
HELLO TRADERS
Downward Condition:
The fact that the price is trading below the 0.008 level indicates a bearish sentiment in the market. When prices remain below this level, it suggests that sellers are in control, applying downward pressure on the , If the price continues to decline, it will likely test the 0.007 level as the next support. If that level is broken, the next target would be 0.006, reinforcing the bearish outlook. These support levels are key indicators of how low the price might drop.
Upward Condition:
If the price manages to break above 0.008 with a strong close, it would signal a shift in market momentum. A 4-hour close above this level indicates that buyers are gaining strength, potentially reversing the downward , Once 0.008 is broken, the next resistance would be at 0.009. This level needs to be breached to confirm a sustained upward move , For a full reversal of the downward trend and confirmation of an uptrend, the price would need to break above 0.009, with the next target being 0.010. This would signify buyer dominance and a stronger upward momentum.
Current Market Analysis:
The market is currently under pressure, with sellers driving prices below 0.008. However, should buyers step in and push the price back above 0.008, the market could shift upward, targeting 0.009. Until the 0.009 level is broken, the market remains in a cautious state, and sellers may still hold influence.
TURNING LEVEL : 0.008
XRPUSDT / TRADING INTO ASCENDING CHANNEL - 4H XRPUSDT / 4H TIME FRAME
HELLO TRADERS
Currently Market Analysis:
The asset is currently trading below the critical turning level of 0.54, indicating that it is under downward pressure. This suggests that bearish sentiment is dominating the market, with sellers outweighing buyers. The price is attempting to retest the turning level of 0.54 before potentially continuing its decline.
Downward Conditions:
As long as the price remains below the 0.54 level, it is likely to experience further declines, If the price fails to break through this resistance level, it may drop toward the next support level at 0.51. A break and stabilization below 0.51 would signal further bearish momentum, potentially pushing the price down to 0.48 , Bearish volume and weak buying interest below the 0.54 turning level would contribute to the likelihood of continued declines.
Upward Conditions:
For a potential reversal and upward movement, the price must decisively break through the 0.54 turning level, A break above 0.54 could shift market sentiment to bullish, allowing the price to rise toward 0.57, which serves as the next key resistance level , If momentum continues, the price could extend its gains toward 0.59. Positive market catalysts, strong buying volume, or bullish indicators could support this upward trajectory.
Turning Level : 0.54
XAGUSD / TRADING IN THE DOWNWARD ZONE - 4H TIME FRAMEXAGUSD / 4H TIME FRAME
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Current Market Analysis:
The market is trading below the turning level of 29.07 , and below the channel trend line at 29.38.This means the price action is currently bearish , with a downward bias , The immediate expectation is that unless the price breaks above these levels, the market could continue to decline.
Downward Conditions:
If the price remains below 29.38, it suggests that the market will continue to trend downward, Initial target for the decline: 28.10 , If 28.10 is broken, the next target would be 27.63.
The downward trend remains valid as long as the price doesn't break and stabilize above 29.38.
Upward Conditions:
If the price breaks and stabilizes above 29.38, this would indicate the beginning of a bullish reversal , The first upward target is 29.82 , If 29.82 is broken, the market could aim for the next target at 30.51 , This upward movement would only be valid if the price successfully breaches the channel trend resistance and holds above it.
UPWARD TARGET :
29.82 , 30.51.
DOWNWARD TARGET :
28.10 , 27.63.
XAUUSD / UNDER CPI PRESSURE - 4HXAUUSD - 4H TIME FRAME
HELLO TRADERS
USDJPY , is currently trading below the supply zone between 2,519$ and 2,526$ and remains below the resistance trendline, indicating downward momentum. There are two potential scenarios:
First Scenario (CPI Higher than Expected)
If the CPI reading comes in higher than expected, this typically indicates stronger inflation. In response, the market may anticipate the Federal Reserve tightening monetary policy, like raising interest rates. Higher rates strengthen the U.S. dollar and increase the opportunity cost of holding non-yielding assets like gold , A higher CPI reading would be perceived as , In this case, gold could drop to 2,507$ , and potentially further down to 2,491$ , After this, stabilization is expected below this range, possibly reaching 2,472$ .
Second Scenario (CPI Lower than Expected)
If the CPI reading is lower than expected, it suggests that inflation is easing. This could lead to expectations that the Federal Reserve will pause or slow rate hikes, which could weaken the U.S. dollar and benefit gold, A lower CPI reading would be , The price could rise to 2,526$ , then 2,531$ , Above these levels, gold might reach a new historical peak at 2,551$.
UPWARD TARGET :
2,526$ , 2,531$ , 2,551$.
DOWNWARD TARGET :
2,507$ , 2,491$ , 2,472$.
USDJPY / TRADING BELOW RESISTANCE TRENDLINE - 4HUSDJPY / 4H TIME FRAME
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USDJPY , is currently trading below the turning level of 145.446 and remains below the resistance trendline, indicating downward momentum. There are two potential scenarios:
The first scenario, Current price is trading below the resistance trend line at 145.446, If the price remains below this level, it is expected to decline , Target levels for this decline are 142.226 and, potentially, 140.745.
The second scenario , If the price breaks above the resistance trend line at 145.446 and stabilizes above it , It suggests a potential increase , Target levels for the increase are 147.516 and, potentially, 149.310.
UPWARD LEVEL : 147.516 , 149.310.
DOWNWARD LEVEL : 142.226 , 140 .745.
NAS100USD / TRADING INTO SENSITIVE AREA - 4HNAS100USD / 4H TIME FRAME
HELLO TRADERS
Current Market Analysis:
The current price is trading within a sensitive range, specifically between the support level at 18,688 and the resistance level at 19,088. The direction of future price movements will largely depend on a breakout on either side of this range.
- Downward Condition:
If the price breaks below 18,688 and stabilizes beneath this level, it may signal a potential decline. In this case, the price could drop to test the next support levels at 18,317 and 17,876.
-Upward Condition:
Conversely, if the price breaks above 19,088 and stabilizes above this resistance, it may indicate a bullish move. The price could then rise towards 19,535, and if momentum continues, it may further ascend to 19,844.
Upward Target :
19,535 , 19,844.
Downward Target :
18,317 , 17,876.
USOIL / TRADING ABOVE SUPPORT LEVEL - 4HUSOIL / 4H TIME FRAME
HELLO TRADERS
The First Scenario , The support level at 65.35 acts as a critical threshold; as long as prices remain above it, buyers dominate, pushing the price towards 68.74 and then 69.98. This rise reflects increased confidence in an uptrend. For the trend to be fully confirmed, prices must stabilize above 69.98, signaling sustained momentum, which could lead to a further increase to 71.59.
The Second Scenario , if the price breaks below 65.35 and stabilizes, it indicates a shift in market sentiment, with sellers gaining control and potentially driving the price down to 63.35, followed by 62.65 This technical analysis underscores the importance of price levels in predicting future market movements and investor behavior.
UPWARD TARGET :
68.74 , 69.98 , 71.59 .
DOWNWARD TARGET :
63.35 , 62.65 .
NAS100USD / TRADING BELOW TURNING LEVEL - 4HNAS100USD / 4H TIME FRAME
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NAS100USD is currently trading below the turning level of 19,088 , indicating downward momentum. There are two potential scenarios:
The First Scenario, the asset is trading below the turning level of 19,088, it indicates a bearish sentiment .The immediate support level is at 18,317. If the price breaks this support, the next support level is 17,876,The price staying below 19,088 suggests a continuation of the downward trend. Support levels at 18,317 and 17,876 provide potential targets where the price could find buying interest or further decline.
The Second Scenario, For an upward movement, the asset needs to break above the turning level of 19,088 and stabilize above it , If the asset closes a 1-hour candle above 19,088, it could move towards 19,535, and possibly reach 19,844,Breaking and stabilizing above 19,088 indicates a shift in sentiment from bearish to bullish. The price targets of 19,535 and 19,844 are based on potential resistance levels or previous highs that could attract further buying.
XAUUSD / STILL CONTINUES A DOWNTREND - 4HXAUUSD / 4H TIME FRAME
HELLO TRADERS
overall , prices under downward pressure , until trading below 2,507$ , yesterday prices rising to reach turning level , currently trading below it , have two scenario .
The first scenario, where gold prices remain below2,507$, suggests a downtrend because this level is acting as resistance. If prices continue to struggle below this threshold, it increases the likelihood of further declines toward the support levels at 2,491$ and 2,472$. Breaking and stabilizing below the supply zone between 2,472$ and 2,459$ would confirm a bearish trend, as it indicates that sellers are overpowering buyers, driving prices down.
In the second scenario, if the price closes a 4-hour candle above 2,507$, it signals bullish momentum. This would likely push prices to test the next resistance levels at2,519$ and 2,531$. Additionally, if the price stabilizes above 2,526$, it would suggest a breakout from the current range, potentially driving prices to new historical peaks around 2,551$. This is because breaking through key resistance often signals strong buyer interest, pushing prices higher.
KEY LEVELS :
Turning Level : 2,507$.
Resistance Levels : 2,519$ , 2,526$ , 2,531$.
Support Levels : 2,491$ , 2,472$ , 2,459$.
USOIL / UNDER UPWARD PRESSURE - 4HUSOIL / 4H TIME FRAME
HELLO TRADERS
USOIL is currently trading above the turning level of 67.09 and remains above the support trendline, indicating upward momentum. There are two potential scenarios:
The First Scenario , USOIL's trading above 67.09 and staying above the support trendline signals strong buying interest, which suggests upward pressure. The target of 69.98 is a logical resistance level, followed by 71.59, which marks the next significant zone. Stabilization above 71.59 and 72.20 would confirm the strength of the uptrend, as breaking these levels would show that demand is outpacing supply, leading to further price gains.
The Second Scenario , If USOIL fails to maintain the 67.09 level and closes below it on a 1-hour or 4-hour chart, it indicates bearish momentum. This would increase the likelihood of a decline toward 65.35 and 63.67, the next significant support levels. A break below 65.35 could trigger a stronger downtrend as it would suggest sellers are gaining control, particularly if the price falls below the descending channel, reinforcing the bearish sentiment.
KEY LEVELS :
Turning Level : 67.09.
Resistance Levels : 69.98 , 71.59.
Support Levels : 65.35 , 63.67.
Buy EURNZD Bullish ChannelThe EUR/NZD pair on the M30 timeframe presents a potential Buying opportunity due to a recent formation of well-defined channel pattern. This suggests a shift in momentum towards the Upside in the coming Hours.
Key Points:
Buy Entry: Consider entering a Long position around the current price of 1.7975, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 1.8084
2nd Support – 1.8145
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Best Regards, KABHI FOREX TRADING
Thank you.
USDJPY / BREAKOUT THE CHANNEL - 1DUSDJPY / 1D TIME FRAME
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Currently, prices are experiencing downward pressure and are trading below the turning level of 146.893. This suggests a bearish trend, especially after a breakout from the ascending channel. As long as prices remain below 146.893, the expectation is for them to move towards the next support level at 140.991. Should prices stabilize below this support level, the bearish trend may continue, targeting a further decline to 139.341.
On the other hand, if prices break above 146.893 and stabilize above this level, particularly above the Fair Value Gap (FVG), we could see a reversal in the trend. This bullish shift would suggest a potential rise in prices, with initial targets set at 152.034. If the upward momentum continues, prices could further increase to reach the target of 154.890.
KEY LEVELS :
Turning Level : 146.893 .
Resistance Levels : 152.034 , 154.890.
Support Levels : 140.991 , 139.341 .
USOIL / TRADING BELOW SUPPLY ZONE - 4HUSOIL / 4H TIME FRAME
HELLO TRADERS
Prices are currently on a downward trajectory, trading below the identified supply zone at approximately 70.04 and 69.21. The market is now approaching the support level at 67.27. There is a possibility of a brief retest of the supply zone before the price continues its decline towards the next support levels, which are around 66.87 and 65.58.
Conversely, if the price manages to break above the resistance level at 70.04, this would suggest a potential upward movement. In this case, the next target would be the resistance level at 71.54. For a confirmed upward trend, the price would need to break and maintain stability above 71.54. Achieving this could lead to further gains, with the next resistance target being around 74.03.
KEY LEVELS :
Supply Zone: 70.04 , 69.21 .
Resistance Levels : 71.54 , 74.03 .
Support Levels : 67.27 , 66.87, 65.58 .
XAUUSD / UNDER BEARISH PRESSURE - 4HXAUUSD / 4H TIME FRAME
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overall , prices under bearish pressure until trading below turning level at 2,507$
The price level of $2,503 acts as a resistance, meaning that as long as prices stay below this point, the market sentiment remains bearish. A break below $2,490 confirms a downtrend because it indicates that sellers are in control, and the next lower support levels ($2,472 and $2,459) become targets for further declines.
On the upside, breaking above $2,507 would suggest bullish momentum, as the price would surpass the initial resistance. If prices continue to rise and close above $2,519 on a 4-hour chart, it would confirm that buyers have taken control, signaling the potential for a move towards the next target of $2,531.
KEY LEVELS :
Turning Level : 2,507$ , 2,590$ .
Resistance Levels : 2,516$ , 2,519$ , 2,531$ .
Support Levels : 2,490$ , 2,472$ , 2,459$ .
Sell Gold (Xau/Usd) H4 ChannelThe XAU/USD pair on the H4 timeframe presents a potential selling opportunity due to a Formation of well-defined Channel pattern. This suggests a shift in momentum towards the downside in the coming Days.
Key Points:
Sell Entry: Consider entering a short position around the current price of 2500, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 2440
2nd Support – 2400
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Best Regards, KABHI FOREX TRADING
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BTCUSDT / UNDER UPWARD PRESSURE - 1DBTCUSDT / 1D TIME FRAME
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Tendency , prices is under upward pressure until prices trading above 52.047 .
The current upward pressure on prices is supported by the fact that they are trading above the key level of 52,047. Staying above this level signals continued bullish momentum, with projections suggesting potential gains toward 57,112 and eventually reaching 64,853, a key supply zone where sellers may step in. For the uptrend to be confirmed, prices need to break through this supply zone.
However, if prices drop below the turning level of 52,047 and a daily or 4-hour candle closes beneath it, this would indicate a potential reversal. In such a case, prices could fall to 46,981, with further downside potential to 44,019. A confirmed downtrend would require prices to stabilize below the 46,981 support level, signaling stronger bearish sentiment.
KEY LEVELS :
Turning Level : 52,047.
Resistance Levels : 57,112 , 64,853.
Support Levels : 46,981 , 44,019.
DOGECOIN / TRADING INTO DESCENDING CHANNEL - 4HDOGECOIN / 4H TIME FRAME
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The overall trend is downward , until trading below turning level at 0.102
The asset's price action suggests a potential downtrend as it currently trades below the key level of 0.102. This level often acts as a significant turning level , so trading below it indicates bearish momentum. A further decline to 0.094 is expected because it represents the next logical support level where buying interest might increase. If this level fails to hold, the price could drop to 0.084, a stronger support that might prevent further declines.
However, if the price can break above the 0.102 level and sustain that move, it would indicate a shift in market sentiment from bearish to bullish. This could lead to a rally towards 0.112, a resistance level that could attract selling pressure. A continued move higher might take the price to 0.121, where significant resistance could be encountered.
KEY LEVELS :
TURNING LEVEL : 0.102 .
RESISTANCE LEVELS : 0.094 , 0.084 .
SUPPORT LEVELS : 0.112 , 0.121 .
XRPUSDT / REMAIN BELOW ASCENDING CHANNEL - 4HXRPUSDT - 4H
HELLO TRADERS
Tendency , prices is under downward pressure , until trading below turning level at 0.58 .
The prices are currently trading below the ascending channel and are likely to attempt a retest to reach the turning point at 0.58 before beginning a decline toward the support level at 0.54, with a further drop expected down to 0.52.
However, if the 0.58 level is broken and a 4-hour candle closes above it, the price may rise toward the first resistance level at 0.62, and potentially further to 0.65
KEY LEVELS :
Turning Level : 0.58 .
Resistance Levels : 0.62 , 0.65 .
Support Levels : 0.54 , 0.52 .
NOTUSDT / UNDER DOWNWARD PRESSURE - 4HNOTUSDT / 4H TIME FRAME
HELLO TRADERS
The overall trend remains downward as long as trading stays below the turning level of 0.009 .
It is reasonable to expect that prices will remain under downward pressure as long as they stay below the turning level of 0.009 because this level acts as a critical resistance point. Without a decisive break above it, sellers maintain control, leading to potential declines toward the next support levels at 0.007 and 0.006.
The requirement for a 4-hour or 1-hour candle close above the turning level to signal an upward move is justified by the need for confirmation that the market has gained enough bullish momentum to push prices higher. Once this occurs, the path toward the resistance levels at 0.011 and 0.013 becomes more likely, as it indicates that buyers are regaining control.
KEY LEVELS :
Turning Level : 0.009
Resistance Levels : 0.011, 0.013
Support Levels : 0.007 , 0.006
NAS100USD / TRADING BELOW TURNING LEVEL - 4HNAS100USD / 4H TIME FRAME
HELLO TRADERS
The overall trend is downward , until trading below turning level at 19,105 .
The price action points to a likely continued decline due to its inability to surpass the key turning point of 19.105, signaling persistent downward momentum. Staying under this level implies strong bearish pressure, with support levels at 18,699 and 18,351 as possible targets.
On the other hand, breaking above 19.105 would suggest a change in market sentiment towards a more bullish trend, potentially leading to a rise towards the resistance levels of 19,538 and 19,906, driven by increased buying interest and upward momentum
KEY LEVELS :
TURNING LEVEL : 19,105 .
RESISTANCE LEVELS : 18,699 , 18,351 .
SUPPORT LEVELS : 19,538 , 19,906 .
USOIL / TRADING ABOVE DEMAND ZONE IN THE DAILY CHART - 4HUSOIL / 4H TIME FRAME
HELO TRADERS
The overall trend is uptrend , until trading above demand zone in the daily chart .
Current Position Prices are above the demand zone, which is a strong support area. This indicates that the current support level is holding and may lead to a price increase , For an uptrend to be confirmed, prices need to break and stabilize above turning level at 71.82 . Successfully doing so suggests that the bullish momentum is strong enough to push prices towards the next resistance levels at 74.24 and then 76.21.
If prices fall below 71.82 and stabilize, it indicates that the support level is no longer effective, potentially leading to a decline , If prices reach 69.18 and a 4-hour or 1-hour candle closes below this level, it suggests a continuation of the downtrend. A further break and stabilization below 68.28 would confirm a sustained bearish trend, indicating further price decreases.
KEY LEVELS :
TURNING LEVEL : 71.82 .
RESISTANCE LEVELS : 74.24 , 76.21 .
SUPPORT LEVELS : 69.18 , 68.28 .