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24th December 2024 XAUUSD SETUP (Christmas GIFT)This is a technical chart for Gold (XAU/USD) showing potential trade setups. Let’s break it down: Key Observations: 1. Trendlines: - A descending channel is visible, with price reacting to both the upper and lower boundaries. - The price recently broke above the descending trendline, indicating a potential reversal or breakout. 2. Zones: - Demand Zone (Support): Highlighted in blue near $2,592.84, showing a strong potential support level. - Supply Zones (Resistance): Highlighted in red and blue near $2,630 - $2,654, indicating potential barriers to upward movement. 3. Price Movement: - Price recently bounced off the demand zone and is approaching higher resistance zones. - A bullish impulse is expected, as illustrated by the curved arrows, with potential pullbacks. 4. Patterns and Projections: - There is a potential double-bottom pattern near the demand zone. - The price could retrace slightly before continuing upward toward the highlighted resistance zones. 5. Entry and Stop-Loss: - Suggested long entry appears near the green arrow (~$2,606). - Stop-loss is likely set below the demand zone (~$2,592.84). - Take-profit levels are near the supply zones, with the primary target around $2,654. 6. Risk-Reward: - The trade seems to follow a favorable risk-to-reward ratio, with higher potential gains if the price reaches the top supply zone. Trade Analysis: - Bullish Bias: Based on the breakout from the descending channel and bounce from the support zone. - Entry Zone: Look for confirmation near $2,606 if price retraces slightly. - Targets: $2,630 (first target) and $2,654 (second target). - Stop-Loss: Tight below $2,592 to limit downside risk. Ensure proper risk management and monitor for news/events affecting gold prices. Would you like help refining the trade plan or exploring alternative scenarios?
OANDA:XAUUSDLong
by ExuberanceTrading
#VETUSDT Ready For a Pullback or Will it Slide Down Further? Yello, Paradisers! Is #VeChain gearing up for a pullback, or are we looking at a potential retracement? Let’s dive into the details of this crucial setup for #VETUSDT: 💎#VET has been trading within a broadening wedge for months, with descending resistance and support lines guiding the structure. Recently, the price broke out of the wedge’s descending resistance, marking a key technical development. However, VET saw a massive profit taking and came back for liquidity capture. 💎The immediate resistance is resting at $0.060. A clean breakout above the $0.06067 resistance, confirmed with a daily close, could trigger an aggressive bullish rally. The possible targets following this move would be $0.08000 and potentially higher. Such a rally could attract fresh buyers and propel #VETUSD into a new bullish trend. 💎On the downside, the immediate support lies at $0.03811. Beneath this level, a strong demand zone exists between $0.03119 and $0.03811, which has previously acted as a reliable area for bullish rebounds. If the price revisits this zone, it could present an excellent opportunity for buyers to step in again. 💎A daily candle close below the $0.03119 demand zone would invalidate the bullish structure. Such a move could lead to further downside pressure, with the price likely targeting the $0.02000–$0.01500 levels. This scenario would also indicate a shift toward bear control. Stay focused, patient, and disciplined, Paradisers🥂 MyCryptoParadise iFeel the success🌴
Long
by MyCryptoParadise
Bullish on Gala: My Updated PerspectiveWhen it comes to trading, my priority is always to protect my capital. If I have doubts, I don’t hesitate to step out of the market. As anyone in crypto knows, this space is notorious for wiping out gains quickly, and my focus is on preserving mine. That said, today’s price action gave me the confirmation I needed to re-enter Gala and turn bullish on the altcoin market. Before diving into the factors that shifted my outlook, let’s revisit the concerns that initially kept me out: Bitcoin’s bearish outlook: I feared it could drag down Gala and other altcoins. Bitcoin dominance potentially invalidating my 0.618 Fibonacci theory. High stochastic RSI on the weekly chart with a bearish crossover. Now, let’s break down how today’s developments allowed me to rationalize these concerns and form a bullish bias for Gala and altcoins. I’ll also share additional confluence factors at the end. 1. Bitcoin’s Bearish Outlook: Will It Drag Down Gala and Alts? Today I posted a detailed analysis on 'BTC Dominance' (please check it out for more context), but here’s a summary: In 2021, Bitcoin experienced a similar scenario, leading to a 31% correction. My outlook on Bitcoin remains bearish in the short term, but today’s price action made me consider a key question: How did altcoins react when Bitcoin dropped 31% in 2021? Interestingly, during that period, the total market cap of altcoins expanded. This makes sense because funds tend to flow out of Bitcoin into altcoins, explaining why alts can rally even as Bitcoin corrects. We saw a similar dynamic today when Bitcoin dropped to GETTEX:92K with almost no impact on altcoins. This suggests a potential decoupling between BTC and ALTS, which reduces my concerns about Bitcoin dragging down the market. 2. Bitcoin Dominance: Does It Invalidate the 0.618 Fib Theory? In November, Bitcoin dominance rejected at the 0.618 Fibonacci level, much like it did in 2021, signaling the start of an alt season. Recently, however, dominance surged upward, leading to a temporary altcoin pullback. My concern was that if dominance surpassed 0.618, it would invalidate the theory. Today, dominance took a sharp dive, which has significantly strengthened my confidence in the bullish case for altcoins. This price action supports the idea that we are indeed on the verge of an alt season. 3. High Stochastic RSI on the Weekly Chart: A Lingering Concern To be fair, the stochastic RSI on the weekly chart remains elevated for most altcoins, with a bearish crossover. However, recent market movements have caused it to come down slightly. While this isn’t ideal this is my only lingering point. The monthly and daily charts show a bullish stochastic RSI, which offsets some of my concerns. Admittedly, this is the one area where I wish conditions were slightly more favorable, but it doesn’t outweigh the stronger bullish signals elsewhere. For example, the Stochastic RSI is bearish on BTC Dominance which supports a Bullish Stochastic RSI on Gala. Final Thoughts With these concerns addressed—or at least rationalized—I feel more confident about re-entering the market. While no setup is ever perfect, today’s developments have reduced my hesitation and strengthened my bullish case for Gala and altcoins. Let’s see where this market takes us! 🚀 What Next I will hold my trade for the entirety of Wave 3, for those that are not aware each wave consists of 5 impulses I won't be trading the swings. I will be however looking for the top of Wave 3 to exit but I can't imaging that will be for a few weeks yet. Instead, I will monitor prices at key level's which are as follows - 1. Confirmation of Wave 3 when price breaks 0.066% 2. My first price target is between $0.11402 - $0.13126. I will provide price updates at those points.
CRYPTOCAP:BTC.DLong
by heywippa
#BTC Potential Head and Shoulders Structure📊#BTC Potential Head and Shoulders Structure☕️ 🧠Yesterday, I set a long limit order in the support area 85700-90400 in order to find a rapid decline. However, it rebounded early, indicating that the previous expectations were invalid, so market risks need to be re-evaluated. ➡️We can see from the strong rebound that the support here is very heavy, so it is reasonable to form such a rebound. ➡️There is no bull signal appearing yet, so we need to remain patient. If we can build a bullish head and shoulders structure in the support area, it means that the trend reversal is likely to begin, so we can participate in long transactions normally. Let's see👀 🤜If you like my analysis, please like💖 and share💬 BITGET:BTCUSDT.P
Long
by wolf_king888
Bearish drop?DAX40 (DE40) is rising towards the pivot which acts as a pullback resistance and could drop to the 1st support which acts as a pullback support. Pivot: 19,953.44 1st Support: 19,614.24 1st Resistance: 20,192.48 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
ICMARKETS:DE40Short
by ICmarkets
BTC and DJI/SPY correlation with markersI am using DJI(Dow Jones Index) as proxy for SPY here to compare it against BTC price movement. The analysis of BTC correlation with indices remain same, if we interchange DJI and SPY. The Day chart displayed here is marked with vertical lines on the matching lows and highs. As you can see, BTC low or high is perfectly matching with the indices lows/high DATE wise. Sometimes, its off by 1 day earlier or later. Sometimes, when DJI is at the peak and moving sideways, it is possible that BTC can make small correction and move back to peak. Here caution must be exercised when entering BTC, as the market is yet to correct. Timing on indices lows and highs, can greatly amplify our returns on BTC price movement. Stay tuned for my next post, where I'll reveal a list of stocks poised to maximize returns when timed with BTC price movements.
Long
by JKReddyLin
DOGS/USDT: Bearish Continuation or Relief Bounce Ahead?hello guys! let's analyze Dogs! Liquidity Sweep ("Hunted"): A recent liquidity grab above the $0.0009000 resistance level indicates that smart money may have trapped late buyers before the sharp sell-off. This bearish move aligns with the concept of liquidity hunting, where key levels are taken out before price reverses. Bearish Momentum: DOGS/USDT has broken below the mid-range support zone ($0.0006800-$0.0007000), suggesting strong bearish pressure. The price is currently retesting this zone as resistance, a critical area for determining the next move. Key Levels to Watch: Immediate Resistance: The previous support zone at $0.0006800-$0.0007000 is now acting as resistance. A rejection here could confirm a continuation of the downtrend. Support Levels: The critical support level lies at $0.0004500-$0.0004700 (purple zone). A break below this could open the door for a deeper correction toward $0.0003500. Possible Scenarios: Bearish Continuation: If the price fails to reclaim $0.0006800, expect a drop to the major support at $0.0004500. A breakdown below this zone could trigger panic selling. Short Position: Entry: Near $0.0006800-$0.0007000. Targets: $0.0004500, followed by $0.0003500. Stop Loss: Above $0.0007300. Long Position (Aggressive): Entry: Near the purple support zone ($0.0004500). Targets: $0.0006800, followed by $0.0009000. Stop Loss: Below $0.0004300.
by melikatrader94
1
GBPUSD H1 I Falling from the 50% Fibo?Based on the H1 chart analysis, we can see that the price is rising toward our sell entry at 1.2554, which is a pullback resistance that aligns with the 50% Fibo retracement. Our take profit will be at 1.2489, which is a multi-swing low support level. The stop loss will be placed at 1.2609, an overlap resistance High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (fxcm.com/uk): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (fxcm.com/eu): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (fxcm.com/au): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at fxcm.com/au Stratos Global LLC (fxcm.com/markets): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Short
by FXCM
ETH/USD 2H AnalysisOur Preferance The price is trading below the resistance level, forming a descending structure with multiple rejection points. A strong support zone has been identified near $3,095. Potential short setup with SL above $3,589 and TP1 at $3,343, TP2 at the support area. Watch for a bearish breakout confirmation, Note: This analysis is for educational purposes and not trading advice. Consider market conditions and strategies. Please do not forget the like button, Share it with your friends thanks, and Trade safe
BINANCE:ETHUSDShort
by David_Josh_Trader
possible upward activity.NVDA has appeared to break out of its wedge-shaped consolidation, in an upward parallel channel. Stochastic RSI and RSI levels are healthy. Please observe levels of interest on the chart FVGs are in green and red blocks. The upward parallel channel boundaries are the main support and resistance estimates. Be careful and watch out for liquidation. Please if this was helpful be so kind to like and boost post. Please share kind and constructive criticism below.
NASDAQ:NVDA
by paper_Trader1775
BTCUSDT, D1 chart, Swing Trade Short Setup👋Hello Traders, Our 🖥️ AI system detected that there is an D1 timeframe ICT Short setup in BTCUSDT for Swing trade. Technically it is clearly that a double top formation and a LG at second top. Our idea: BTCUSDT is going to the extension target to the demand zone marked on the chart. May be a possibility back to the FVG before further down. So we only waiting for Short setup for swing trade and day trade in the coming 2 weeks. For more ideas, you are welcome to visit our profile in tradingview. Have a good day! Please give this post a like if you like this kind of simple idea, your feedback will bring our signal to next better level, thanks for support!
Short
by ICT_Trader_SB
Bullish rise off pullback support?USTEC has reacted off the pivot which is a pullback support that lines up with the 23.6% Fibonacci retracement and could rise to the 1st resistance. Pivot: 21,299.22 1st Support: 21,022.71 1st Resistance: 21,773.23 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
ICMARKETS:USTECLong
by ICmarkets