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DXY- False break and strong reversal ahead? Last week, the DXY broke below important horizontal support. However, the next day, the index reversed its losses, followed by a bullish candle on Friday. This created a strong reversal candle on our weekly chart, making us wonder if the initial break was false. Now, the index is consolidating above this important horizontal support. A break above the current lateral consolidation could lead to an upward acceleration. Typically, after a false break, the asset moves in the opposite direction to test the next significant level. For the DXY, this sets a target in the 1.0650 zone.
TVC:DXYLong
by Mihai_Iacob
SPX broke the trend line with a gap. Time to sell rallies?Since April, the SPX has risen around 15%, and since November's low, it has increased by almost 40%. This is quite significant for such an index, making us wonder if this rise is fundamentally justified (in my opinion, it is not). But, as they say, "trade what you see, not what you think". What we saw was a strong upward move. However, keeping this expression in mind, we also observed a breakdown with a gap yesterday, which was not filled during the day, indicating a "gap and run." My preferred strategy for the index is to sell on eventual rallies above 5500, with a target at 5250. This strategy would be negated by a new all-time high (ATH).
SP:SPXShort
by Mihai_Iacob
8
EurAud- Important break could lead to 1k pips riseAfter a recent dip to the 1.6 zone and a period of consolidation, the EUR/AUD has reversed strongly over the past two weeks, leading to a significant breakout. As shown in the chart, following an initial upward movement lasting about a year, the pair corrected and consolidated within a falling wedge pattern for another year. Currently, we see a clear breakout above the falling wedge's resistance, which could lead to a rise of approximately 1,000 pips in the medium to long term. Swing and positional traders might consider buying on any dips around 1.64, aiming for a target of 1.75, while keeping the interim resistance and falling wadge's target at 1.7 in mind.
Long
by Mihai_Iacob
Bitcoin- The Good, The Bad and The UglyAs I mentioned in my previous posts, I am bullish on Bitcoin and expected a break above $71,000 with a rise to at least $85,000. However, I always consider multiple scenarios. In this post, I want to discuss all the potential outcomes I foresee. The Good Scenario: As shown in the chart, although the price dropped again from the all-time high resistance, the bulls have strongly defended the $67,000 support level that I've been emphasizing. If the price recovers and reaches the resistance level again, it is likely to break above, targeting at least $85,000. The Bad Scenario: In this scenario, the bulls fail to defend the $67,000 support zone. If this happens, the price will likely drop to the $60,000 zone. The Ugly Scenario: In this scenario, all the price action since mid-March could be viewed as a long distribution phase. If Bitcoin also loses the $60,000 support, we could see a significant decline, potentially down to around $45,000.
BITSTAMP:BTCUSD
by Mihai_Iacob
11
Alikze »» ENA | Pullback to broken structureIn time 1D and 8H, it has faced demand after supporting in the golden zone. 💎 According to the momentum and upward guard, if it is issued in the 8H period after meeting with the pullback trigger line to the golden limit, it can continue to grow up to the Fibo range of 0.78 after the support in the first step, and then this growth can continue up to the supply area. slow down 💎 Alternative scenario: if the golden zone and the range of 0.68 are broken, the correction can extend up to the range of 0.58 and the green box. »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Sincerely.❤️ »»»«««»»»«««»»»«««
Long
by UnknownUnicorn7266498
Gold- Real break under 2300 this week?As you know, I have been bearish on gold for more than two weeks now. Not only has this opinion remained unchanged, but it has also been reinforced by last week's price action. As seen in the posted chart, after dropping below the 2300 zone, gold started a normal correction. Importantly, last week, we experienced a false break above the 2340 resistance, resulting in a strong bearish engulfing pattern on our daily chart. The week closed exactly on the ascending trend line of the correction that started after the 2385 low, and now the price is in a normal rebound. This rebound could give us an opportunity to open short trades against last week's high. For short-term targets, 2385 could be a good point for booking profits. However, I am convinced that, after a clear break below 2300, gold will drop significantly and reach the 2200 zone.
OANDA:XAUUSDShort
by Mihai_Iacob
3
Gold- Correction over, 1k pips drop next?As I mentioned in my analysis yesterday, I anticipate a significant drop in gold prices once the current correction ends. As expected, the price broke above the 2320 local resistance, creating a new upward correction leg. It then reversed from 2341, giving me a precise short entry. The candlestick pattern since Friday has formed a "bearish mat hold pattern," suggesting a continued downward trend. At the time of writing, gold is trading at 2314, below the 2320 zone, which has recently acted as both support and resistance. This adds to the bearish outlook. Confirmation of a lower high will come with a drop below the 2300 psychological level. If this happens, the technical support at 2285 will be exposed. Furthermore, if there is a new drop to this technical support, I expect it to break, leading gold to fall to the 2250 zone initially.
OANDA:XAUUSDShort
by Mihai_Iacob
4
Double Bottom - AUHere I have AUD/USD on the 1Hr Chart with what looks to be a Double Bottom Pattern! We were given a Higher High then the one on Tuesday which was preceded by a Lower Low late on Wednesday! Following the negative news on the Consumer Debt Today and with Non-Farm Employment, Unemployment Rate and Average Hourly Earnings Tomorrow, I will be looking for Price to retrace a little lower testing our EMA Spread, finding Support, then going HIGHER! *It's important to observe the Intensity of how Price Action revisits our area! Updates will be made. I also see the RSI giving us quite a Strong Divergence which strengthens my Bullish Bias! *TRADING INVOLVES RISK! DO NOT TRADE WHAT YOU DO NOT UNDERSTAND OR HAVE NOT TESTED BEFORE! THIS IS NOT TRADING ADVICE. EDUCTIONAL PURPOSES ONLY!* -Pattern CONFIRMED by Higher High Break -BUY- { SL } .65520 { ENTRY } .65838 - .65782 { TP } .66520
Long
by Novi_Fibonacci
1