GBP/USD at the Crossroads: Rejection or Breakout? GBP/USD
Price just pushed up into a key resistance zone around 1.2775, tapping into that area but showing some hesitation. This level aligns with a previous high and a major trendline rejection, which could signal a potential pullback or even a reversal if sellers step in heavy. The 200-day EMA is sitting slightly above at 1.2784, so we gotta watch how price reacts—either it breaks and holds above for continuation, or we get a clean rejection that sets up a short opportunity.
Bearish Setup: If price fails to break and hold above 1.2780, I’ll be looking to sell, targeting 1.2716 first, then potentially down to 1.2505 if momentum kicks in. Confirmation would come with a strong bearish candle or a break back below the previous structure.
Bullish Setup: If price breaks and holds above 1.2785 with momentum, then we could be headed for 1.3016 and beyond. I’d be looking for a clean breakout with a retest before jumping in long.
🔥 My Bias? Right now, I’m leaning bearish unless buyers step in aggressively and break that resistance clean. If I see a strong rejection, I’m jumping in for the short ride down.
Chart Patterns
[INTRADAY] #BANKNIFTY PE & CE Levels(05/03/2025)Today will be flat opening expected in index. After opening it will trade in between the 400+ points range from 48050-48400 points. Any strong upside rally only expected above 48550 level. Downside 48050 level will act as a important support for today's session. Any major downside rally only expected below 47950 level.
EURUSD H4 | Bullish Bounce Based on the H4 chart analysis, the price is falling toward our buy entry level at 1.05354, a pullback support that aligns with the 38.2% Fibonacci retracement.
Our take profit is set at 1.0624, a swing high resistance that aligns with the 161.8% Fibonacci retracement.
The stop loss is placed at 1.0456, a pullback support.
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DXY Dollar Index OutlookThis is my current Elliott Wave count for the DXY Dollar index. I have a couple of variations which I will share but this one sees a decline starting with a leading diagonal in red wave 1 which is close to completion. May see a pull back in red 2 before a strong move lower in 3. The alternative is a nesting 1,2,1,2. If that's the case then a strong decline could continue from here.
USDZAR-BUY strategy 3 hourly chartThe pair may still have some downside pressures, as stochastic is not too low as yet. We are on the way to GANN angle support 18.3500. My feel is we may see BUY opportunity 18.4350 area for a recovery 18.5750, but note there is selling pressure on going.
Strategy BUY @ 18.4150-18.4400 and take profit near 18.5750.
ACHR - Daily - Minor Correction In PlayClick Here🖱️ and scroll down👇 for the technicals, and more behind this analysis!!!
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📈Technical/Fundamental/Target Standpoint⬅️
1.) Concerns:
- High Volatility: Rapid stock price increases can be followed by significant declines, potentially erasing gains.
- Weak Fundamentals: Consistent net income losses since 2020. While losses are reducing, the company still isn't profitable.
- Low Trading Volume: Suggests limited investor interest, potentially impacting price movement and liquidity.
2.) Positives:
- Production Ramp-up: Tooling load-in for aircraft production is underway, indicating progress towards commercialization.
- Strong Financial Position: Low debt and sufficient cash reserves suggest the company is financially sound for the long term.
3.) Short-Term Outlook:
- Limited Upside: A modest price decrease to the mid-$6 range is possible, but a drop to the mid-$5 range is also a potential scenario.
- Unlikely to Reach $13: Significant upside to $13 before earnings is considered unlikely due to the company's current fundamentals and limited market interest.
4.) Overall:
- This appears to be a high-risk, long-term investment. While the production ramp-up is a positive development, the company's financial performance and low trading volume present significant challenges.
🌎Global Market Sentiment⬅️
1.) January Caution: Historically, January has shown a tendency for negative monthly closes. This trend extends to March and April, suggesting a period of caution for investors.
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Rising Wedge BreakdownNvidia needs to reclaim the bottom of a rising wedge it just lost and failed to reclaim on the last two daily candles.
It did wick back above it with the most recent daily candle but failed to reach the 200 day EMA, and closed below.
There could be further tests, but the most likely scenario here is down towards the two take profit targets shown on the chart.
A halfway point to TP 1 is the dashed grey line, which may also be a stopping point along the way down.
50-50 set up in the S&P 500 daily chartThe market will be focusing and scrutinizing on the Trump presentation to Congress. It will be searching for positive news with regard to tariffs, Ukraine and Israel. The expectation is the current lower levels would be attractive to buyers entering the market. However it will be the markets interpretation of the Trump presentation to Congress as the filter to determine if buyers will follow through.
"Gold (XAU/USD) Rebounds from 200 EMA – Targeting Key ResistanceKey Observations:
Support & Bounce:
The price bounced from a key support level around 2,846.493 (200 EMA), marked with a red circle.
This suggests strong buying interest around this level.
Entry & Target Zones:
The trader appears to be aiming for a long (buy) position, as indicated by the red arrow pointing upward.
The first take profit (TP) level is around 2,929.243.
The second TP level is around 2,944.083 - 2,951.503, marked by the blue rectangle (resistance zone).
Resistance Zone:
The upper blue shaded area represents a strong resistance level where price previously rejected.
If price reaches this zone, it may face selling pressure.
Bearish Flag Pattern Mentioned:
The chart includes a note about a bearish flag, which is generally a continuation pattern signaling potential downside.
However, in this case, the trader is looking at a retracement upward before potential selling pressure resumes.
Conclusion & Possible Scenarios:
✅ Bullish Scenario: If price sustains above the 200 EMA and breaks the first TP level, it could reach the second TP in the resistance zone.
❌ Bearish Rejection: If price fails to break the resistance zone, it may reverse downward, validating the bearish flag pattern.
Would you like any specific trading insights or adjustments to this analysis?
Wed 5th Mar 2025 XAG/USD Daily Forex Chart Buy SetupGood morning fellow traders. On my Daily Forex charts using the High Probability & Divergence trading methods from my books, I have identified a new trade setup this morning. As usual, you can read my notes on the chart for my thoughts on this setup. The trade being a XAG/USD Buy. Enjoy the day all. Cheers. Jim
BTCUSD – Head & Shoulders Confirmed?In my previous analysis ( ), I outlined a potential Head & Shoulders formation that could lead to a bearish move. So far, price action has followed this structure accurately.
Key Developments:
✅ The right shoulder seems to be forming as expected.
✅ Price grabbed liquidity above $92,500 before reacting downward.
✅ A double top has formed, adding further bearish confluence.
What’s Next?
If the market respects this pattern, a break below the neckline could confirm a continuation lower, with a potential target at $59,117 , aligning with the full Head & Shoulders projection.
Conclusion:
So far, this setup is playing out perfectly. If bearish pressure continues, we could see a deeper decline. However, a sustained move above $95,150 would invalidate this scenario.
🔔 Do you see BTC following this path, or do you expect a bullish surprise? Drop your thoughts below!
Is gold back in the bull market?Gold fell and then quickly pulled up. Pay attention to the first support level of 2900, the second support level of 2887, and the long-short watershed of 2860-2870. Currently, gold is close to the first support level. Keep the range operation, high-short and low-long, and participate cautiously in the middle position.