Get started

Descending Channel

NZDUSD → Another retest of support could yield a breakout OANDA:NZDUSD is testing strong support at 0.6086, but the market is not forming a logical bounce or reversal. The price continues to test the support, which reminds us of the "Flag" pattern, the essence of which is the continuation of the movement. On the daily timeframe I marked the key level 0.61038. A false breakout is formed and there is no logical reaction relative to the level (no growth after a false breakout). Buying power is weakening on the back of the rising dollar. Strong bears are forming a pre-breakdown consolidation relative to the 0.6100 level. The dollar index is strengthening as regulators are further delaying a possible rate cut, which could technically strengthen the index, and that would negatively impact the forex . The moving averages, reversal pattern, retest and pre-breakout consolidation of 0.6100 - 0.6086 suggests a possible breakout of support and a decline in price towards 0.61000. Resistance levels: 0.6134, 0.6208 Support levels: 0.6100, 0.6084 I expect that on the background of pre-breakdown consolidation another support retest will be formed, which may break this line and the market will start to form a bearish impulse. Regards R. Linda!
Short
by RLinda
10
GBPJPY → False breakdown on the background of distribution OANDA:GBPJPY is in the distribution phase after breaking the ascending triangle structure. Against the background of the November 2023 retest, there are not many chances to break 188.3 from the first time. The pound sterling both technically and fundamentally looks stronger than the Japanese yen. On the senior timeframe we see the formation of a sideways movement, which tells us about the neutrality of forces between buyers and sellers. In this case, it is acceptable to use a range trading strategy (trading from the range boundaries). After breaking through the ascending triangle structure an impulse (distribution) is formed, the price has not yet tested the resistance of 188.3, which plays an important role. There is a high chance that the market will show a false breakout and a small correction. The key point of the correction is a test of the rising support line. If the line is broken, the price may head towards the mentioned target. Resistance levels: 188.3, 188.66 Support levels: 185.9, 184.3 The most likely scenario is a false breakout followed by a correction to one of the above support lines, as the market currently has no potential for a resistance breakout. Regards R. Linda!
Short
by RLinda
11
🥇 GOLD - Price is testing resistance before a possible fall Gold falls, market turns its attention to US banking-related regulatory announcement. The dollar is strengthening at the same time, which has a corresponding effect on the gold market. Since gold is in a bearish trend and is making new lows, we expect a decline based on the following assumptions. Reasons for the drop: 1) The fundamental background for gold is weak 2) Today's news may also affect the price 3) The price is breaking the support of 2016 and is currently forming a retest. 4) A false breakdown of 2016 will signal a possible fall. 5) The area of 2016 - 1995 is empty for the market and the forming movement can be fast.
OANDA:XAUUSDShort
by AndeWave
1
GOLD → How will the news affect the price?FOREXCOM:XAUUSD is updating a low of 2001.9 and forming a correction in a phase of waiting for news to be released at 13:30 GMT. At 13:30 Initial Jobless Claims will be published - analysts expect that the index may show worse data than in the previous period, and also, it is worth paying attention to Bostic's comments (FOMC), who will speak three times today: 12:30, 16:30, 17:05. The FOMC representatives have been making a lot of speeches this week. Technically, gold is forming a correction and consolidation in a low-volatility format, which may last until the news is released. It is impossible to determine the data in advance, but there are assumptions that the dollar index will continue its growth, in which case, gold may continue to fall after a retest of resistance. The moving averages indicate the continuation of the bearish trend. Resistance levels: 2013.7, 2016.8, 2025 Support levels: 2004.5, 1994.7, 1976.2 Technically, gold is in a downtrend and on the backdrop of the news may test resistance to capture liquidity before further declines TVC:DXY COMEX:GC1! COMEX_MINI:MGC1! Regards R. linda!
OANDA:XAUUSDShort
by RLinda
5
GBPCAD → Waiting for the price to start rising FX:GBPCAD is forming a bearish trend change attempt. The Canadian dollar index is declining, while the GBP index is in consolidation against the background of the uptrend. The growth of the currency pair may continue after retesting the support at 1.6977 and forming consolidation above this zone. What confuses us is the false breakdown of the 200-hour moving average, but what is interesting is that there is no strong fall. The market is in a correction phase and apparently the price is set to test the previously broken resistance (support at the moment). After consolidation, the market may move into the realization phase (distribution), where the price is capable of reaching 1.7275 in the medium term. Support levels: 1.6977, 1.6898 Resistance levels: 1.7050, 1.7132 I expect growth after the end of the correction phase. It is worth paying attention to the above support, because it is from this zone that the price can start the strengthening phase Regards R. Linda!
Long
by RLinda
7
GOLD → Correction to previously broken trend resistance FOREXCOM:XAUUSD is declining. Bulls failed to hold the 2050 area, but most likely there is a reason for that: the liquidity zone is near the previously broken resistance, and the geopolitical situation is complicated by additional Fed comments. The dollar index consolidated below 102.6 for a long time and it was logical to realize that the market was unable to go up, until the Fed commented again: "rates should be kept at a high level for some time, it is premature to talk about the beginning of the Fed's rate cut in March". This is logical against the backdrop of the red sea crisis, which is also very much affecting inflation in the world. BUT. It should be understood that this conflict directly affects the pricing of gold. High probability of appreciation of the asset. Technically, gold is declining towards the previously broken trend resistance. The market may be interested in support at 2038.9 - 2032. A false breakdown could form a liquidity grab and a bullish momentum. Resistance levels: 2050, 2064 Support levels: 0.382 fibo, 0.5 fibo (2038.9), 0.618 fibo The growth of gold, as a security asset amid the crisis, may continue after the market retests the previously broken trend resistance COMEX:GC1! COMEX_MINI:MGC1! TVC:DXY Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
8
GOLD → The price will continue to rise provided...FOREXCOM:XAUUSD formed a rally at the end of last week and broke the resistance of the downtrend. The reason is another armed crisis, but in Southwest Asia. On Monday, the market opened the session with price strengthening and retesting 2058. The mood of the market is such that the price growth may continue in the medium term. There is no sense to pay attention to the dollar now, temporarily the correlation in the pair is decreasing and fundamentally gold looks quite a strong asset. Today the volatility may be lower than the daily average due to the fact that it is a holiday weekend in the USA. Technically, as the market is testing the level of 2050, the price consolidation above this area will form a bullish potential, which in the medium term can push the price to 2070, 2100, 2150. It is also worth paying attention to the moving averages. Support levels: 2050, MA50+MA200, 2039 Resistance levels: 2058, 2064, 2070 The market is testing the support, against which gold can strengthen on the background of favorable fundamental background for the asset TVC:DXY COMEX:GC1! Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
28
APTUSDT → Potential for further growthBINANCE:APTUSDT forms support 8.08 and pre-breakdown consolidation, within which it breaks the trend resistance. After breaking the resistance, the market forms a local high of 11.1 after which it tests the previously broken trend resistance and the support of 8.08. The market is trying to change the trend and it is logical on the growth of the total market capitalization. Technically, the coin has a good enough potential to catch up with other coins in growth. It is worth paying attention to the zone of 9.220 - 8.08. The bulls are trying to hold this area, increasing their volume. It is worth waiting for the price to consolidate above this area to confirm the bullish potential. The moving averages are supporting the market, and the false break of MA-50 gives a good signal. Resistance levels: 10.9, 12.67 Support levels: 9.22, 8.08 It is worth considering the potential for buying at the moment. A price consolidation above 9.22 will give a good place to open a trade. Regards R. Linda!
Long
by RLinda
2
🥇 GOLD - The 2040 level plays an important role Gold does not update the minimum and maximum, forming consolidation, as the market is now undecided with the further direction. For the whole week, important news is published today, which the market is waiting for. Regarding the consolidation, we have 2 scenarios. Because of the impending news, there are several scenarios: 1) 2040 resistance plays a key role 2) If the level is broken on the news, a price consolidation above the level will provide an entry point for a rise 3) But, if the news is bad for gold, a false breakdown could form 4) Local trend is bearish, global trend is bullish
OANDA:XAUUSD
by AndeWave
1
USDCAD → NFP may strengthen the currency pairFX:USDCAD is forming a local resistance level at 1.3364 and pre-breakdown consolidation before the news. There is a chance that price could consolidate. On D1 we see the formation of a global sideways range. Hence, we are using a range trading strategy in the global perspective. A false break of support forms a signal that price is now heading upwards. Yesterday, the TVC:DXY received fundamentally positive data that could strengthen the price, and also this data (Initial Jobless Claims, ADP NonFarm EC) is a prerequisite that today's Nonfarm Payrolls will also be bullish for the dollar. In this case, the currency pair may break the nearest resistance at 1.3364 and continue its growth. Support levels: 1.3315 Resistance levels: 1.3364, 1.3487 There is an empty space up to the target, therefore, if the nearest resistance is broken, the price will easily and quickly reach 1.3487 Regards R. Linda!
Long
by RLinda
2
USD/CNH ↘️ Short Trade setup ↘️Hello Everyone 🙋🏽‍♂️ descending channel pattern 💲 Entry Point : 7.14511 🟢 TP 7.09574 🔴 SL 7.16782 We are not responsible of any losses for anyone, our trades are profitable more for long terms and we take losses as everyone, manage your lot size as well and your SL and TP and my opinion is 0.01 lot for each 500 $. Don't forget to hit the like bottom and write a comment to support us. Follow us for more 🙋🏻‍♂️ Best Regard / EMA Trading . Disclaimer: ---------------- It's not a financial advise, As everyone we take losses sometime but for long term trading we are profitable traders, so manage your account well with SL and TP and your lot size to keep your account safe and stay in the market
Short
by EMA_Trading
2
THETAUSDT - The attempt to change the trend is doomed to successBINANCE:THETAUSDT is forming another resistance retest and in fact it can be considered an attempt to change the bearish trend. The chance of success is quite high as several key patterns are forming. On the high timeframe, the coin finds a clear bottom and the triple touch pattern confirms the area. But the price still has a long way to go for a trend change, as breaking the local downside resistance is still not enough, THETA must overcome the 1.717 area to confirm a definitive trend change. On D1, a descending wedge is forming on the background of the bearish channel, the breakout of which forms a rally to the trend resistance, where a pre-breakout consolidation in the format of an ascending triangle is turning. The strength of this consolidation is enough to break the resistance area and the level of 1.190, which will confirm the breakout and may form an impulse to 1.337 and 1.700. SMAs are forming an interesting signal. Support levels: 0.982 Resistance levels: trend resistance, pattern resistance, 1.190. I expect a breakout of the above zone with the subsequent formation of an upward impulse. Regards R. Linda!
Long
by RLinda
6
BLUR - Fakeout below descending channelAllow me to share the exhilarating journey of BLUR, the budding cryptocurrency on Binance. Despite its nascent presence, BLUR has orchestrated a bullish symphony that echoes the proper way to ascend, shooting straight for the moon! 🌕 Navigating the Abyss: A Strategic Shakeout Descending Channel Tactics: BLUR engaged in tactical trading within a descending channel, setting the stage for a powerful move. A deliberate shakeout beneath the lower boundary provided the coin with ample fuel and strength for the ascent. Launching into Space: True Breakout Manifested The strategic shakeout was followed by a genuine breakout, soaring above the upper boundary of the descending channel. This breakout signifies a robust and bullish movement, suggesting potential gains. Experiencing True Bullish Momentum Early Glimpse of Bullish Prowess: BLUR, in its early days on Binance, has already demonstrated a commendable ability to showcase bullish momentum. The breakout from the descending channel serves as a testament to the coin's strength. Immediate Growth Trajectory: The trajectory indicates an immediate growth potential, positioning BLUR as a cryptocurrency to watch in the market. Strategic Insights: BLUR's journey is a compelling example of how strategic maneuvers within a descending channel can set the stage for true bullish movements. As the coin breaks free and charts its course towards the moon, traders and investors should keep a keen eye on potential entry points to ride the anticipated bullish wave. Embark on the voyage wisely, 🚀 ❗️Unlock exclusive insights! Claim your 3 crypto trading indicators for FREE! Link below 🔑
by AlexWhale