USDJPY → Consolidating before the news.... FX:USDJPY has been in consolidation for a long time, correlating with the dollar. Traders are waiting for key news and are not ready to act early.
The currency pair is in the downward phase, which is a consequence of the strengthening of the Japanese yen on the background of the dollar's decline. The Central Bank of Japan actively considered the issue of raising rates, but postponed this step for later because of destabilized markets.
Today is an important report on inflation in the USA. So far, everything is going according to the Fed's plan. Markets are actively plotting the start of a Fed rate cut in September.
Technically, the bearish trend may continue, there is a huge pool of liquidity above 147.9, which may be liquidated before further decline.
Resistance levels: 147.9, 150.2, 150.86
Support levels: 146.29, 144.04
Technically and fundamentally we have prerequisites leading to a possible decline. We should wait for news to take some actions....
Rate, share your opinion and questions, let's discuss what's going on with ★ FX:USDJPY ;)
Regards R. Linda!
Conslidation
USDCHF → Retest of a previously broken trend FX:USDCHF is forming a correction after breaking the support of the uptrend. The dollar is in an unstable situation and in a phase of decline, which may favor the CHF, in which case the currency pair may decline.
Globally - bearish trend. The resistance retest is formed and the price is not ready to renew the maximum yet and breaks the structure of the pre-breakdown consolidation. A local range below the key level is being formed.
On H1 the price is testing the previously broken flat support, most likely the price may go flat and test the channel boundary after which the decline may resume. The target is the global flat support.
Resistance levels: 0.87830, channel boundary, 0.88758
Support levels: 0.87280, 0.85800
I expect that the retest of resistance will be in the form of a false breakdown after which the decline of the currency pair may continue.
Regards R. Linda!
BAT is flying towards +270% Profit 🫰---------------------------------------------------------------
Description
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+ BAT is retracing back to its support zone
+ This is critical zone for consolidation and resume its bullish trend
+ Overall BAT is looking bullish
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VectorAlgo Trade Details
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Entry Price : 0.2329
Stop Loss : 0.2117
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Targets 1: 0.2426
Targets 2: 0.2493
Targets 3: 0.2645
Targets 4: 0.2742
Targets 5: 0.2972
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Timeframe: 4H
Capital: 1-2% of trading capital
Leverage: 5-10x
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Enhance, Trade, Grow
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Regards
VectorAlgo
WOO/USDT - Will it bounce after consolidation❓BINANCE:WOOUSDT had significant correction since the last pump which reached up to 0.52 price level. Since WOO has a decent correction, it is currently consolidating around the 0.337 area and getting good accumulation before the reversal.
We can expect the price to bounce back after the consolidation or go into further correction upto 0.24.
If the price bounces back then our entry is around 0.35 with SL at 0.31 and Targets are 0.37, 0.39, 0.42 and 0.47
If WOO continues the downtrend then we can enter a SHORT trade around 0.31 with SL at 0.34 with Targets around 0.29, 0.28, 0.26 and 0.24.
Cheers!
GreenCrypto
BINANCE:PERP/USDT - Support Holding Strong---------------------------------------------------------------
Description
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+ PERP is consolidating the in the range for a very long time as shown in the image
+ We are waiting for the price to breakout from that range to enter a long trade
+ once price breaks upwards, its good opportunity for the trade.
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VectorAlgo Trade Details
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Entry Price: 1.12478
Stop Loss: 1.02685
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Targets 1: 1.9660
Targets 2: 1.270
Targets 3: 1.3944
Targets 4:1.4973
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Timeframe:
Capital: 1-2% of trading capital
Leverage: 5-10x
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Note: Don't forget to keep the stop-loss.
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Regards
VectorAlgo
History Repeats Itself with LINK?I have two different trading channels highlighted on the chart. The first predates the post-corona bull market. The second shows a long period of consolidation on the Chainlink weekly chart.
The first channel lasted for a year before LINK exploded to ATH over $50. The second channel marks a year in May 2023. Chainlink has completed a full market cycle and if this period of consolidation matches the last one, we'll see some explosive moves upward from Chainlink sometime in the next six weeks. This upward move should find resistance at the 200MA, but that will also come about 2x from the current price point.
Enjoy, NFA.
GBPNZD - Long TradePlease refer to text on chart.
Tremendous risk/reward play here if the trade works out well. Price has been consolidating for about a month now, building up very strong momentum. There will be a strong, fast, and decisive move should price break above the resistance areas.
** Remember, we do not attempt to predict future price. We simply react to current price movements based on our interpretations of past data.
ETSY Poised to test 74 Breakout ZoneETSY has been consolidating within a standard box pattern for the past several weeks, and has broken out of its initial trend line resistance, ready to test the upper region of the box at 73.50-74. Whether or not it breaks from there remains to be seen, but a test of 74 would yield 3+ points per share. Not a bad return.