OCEANUSDT → A break of resistance will give a 30% increaseBINANCE:OCEANUSDT forms a bottom at 0.1208 and forms a false breakout. After formation of the formation, the price rallies and goes into consolidation in the triangle format
After retesting the triangle resistance on July 22, the price forms a small correction after which the price forms a pre-breakout consolidation near the upper boundary of the formation.
Altcoins have been showing positive dynamics lately and most likely the breakout of resistance at OCEAN will give excellent potential.
While bitcoin is forming a correction and forming a local support area, the altcoin price is updating the local high and breaking the resistance.
The price is testing MA-50 and may soon test MA-200 as resistance
Support levels: 0.3335
Resistance levels: 0.3605
I expect the final breakout of the triangle resistance with the subsequent strengthening of the price to these levels.
Regards R. Linda!
Descending Triangle
📉$UNFI Descending Triangle Pattern Alert!📉Hey traders! 📈📊 Exciting updates on the $UNFI:USDT chart. 🚀 It seems a descending triangle pattern could be forming. 📉 This pattern features a horizontal support line and a series of lower highs, indicating potential downward pressure.
📌 Symbol: $UNFI:USDT
📅 Timeframe: Weekly
📊 Chart Pattern: Descending Triangle
🔍 Pattern Description: The descending triangle pattern consists of a flat support level and lower swing highs, often signaling a possible bearish continuation.
🚀 What to Watch: Keep an eye on the price as it nears the support level. A breakdown below the support line could lead to a potential downward move, possibly confirming the bearish sentiment.
🎯 Target Levels:
Short-term: Targeting the 50% retracement level around $7.40
Mid-term: Aiming for the 61.8% retracement level near $11.25
Long-term: Setting sights beyond the golden mean ratio to the 1.272 fib extension, potentially around $115 by the end of the 2025 bull cycle
🛑 Stop-loss: Consider placing your stop-loss just above the descending trendline to manage risk in case of a false breakdown.
📉 Indicators to Watch: Utilize RSI, MACD, and volume indicators to gauge potential confirmation of the pattern.
📈 Risks: Remember that trading involves risks, and the pattern might not always play out as expected. Stay updated on market news and adapt to changing conditions.
Trade with care! 📊📉💰 #TradingView #TechnicalAnalysis #DescendingTriangle #UNFI #TradeSmart
(Note: This is a fictional trading post and not financial advice. Always conduct thorough research and consult a financial advisor before making any trading decisions.)
🥇GOLD - Retest of resistance gives a sell signal Gold is testing a new low and updating the low. Price is forming a bounce and testing trend resistance, but more likely another decline may be formed which will further weaken the price.
TA on the high timeframe:
1) We should consider 1902.87 as a medium-term target
2) Yesterday's daily candle formed a strong enough signal to fall - a shakeout was formed (a candle with a long shadow). The market sold off everything it bought and closed the session at the very low.
TA on the low timeframe:
1) The market bought back the decline a bit and tested bearish trend resistance.
2) If price does not break trend resistance on the retest, the decline will continue
3) A sell signal is forming now, it is important to wait for the confirmation of the signal
Key resistance📈: 1919.7
Key support📉: 1914
GOLD → Counter-trend correction before further decline OANDA:XAUUSD is testing a key liquidity area after breaking triangle support. The price updates the global lows and confirms the presence of an ongoing bearish trend
The price fails to reach the support at 1912.7 and forms a rebound. Most likely the target of 1912.7 is still valid, but before the support is retested the market needs more liquidity and for this purpose a correction is formed to retest the previously broken level. The price is heading towards the triangle pattern. The line of 1922.5 can be tested, or the price can go a little further, for example to 1927.5 or to 1932. It is impossible to talk about global growth now, the price is in a strong falling movement and continues to update the lows. We are looking for strong resistance areas to sell.
Resistance levels: MA-50, 1922.5, 1927.5.
Support levels: 1915,5, 1912.7
I expect the decline to continue after the retest of these resistance levels. Bearish trend reigns on the market. Take it into account in your trading.
Regards R. Linda!
GOLD → The bear's paw regulates the market. The red zone OANDA:XAUUSD is forming a setup that can accumulate the potential to continue falling. The price is testing local support and forming a rebound before further decline
The global bearish trend continues to develop. The price failed to pass through the 1980 area, forming a false breakout of the resistance area.
A downward price channel is formed on the chart, after breaking the trend support the price forms a prolonged consolidation below the support. A descending triangle is formed, which can be interpreted as a dpavlenie prodlavleniya on buyers in the area of 1922.
Moving averages show a strong trend and act as resistance. MA-50 confirm the local resistance of the triangle.
Support levels: 1923,5
Resistance levels: 1927.5, triangle resistance
In the medium term, I expect a continuation of the fall, but before that there may be a rebound to 1927-1930.
Regards R. Linda!
GOLD → Support retest indicates buyer weakness OANDA:XAUUSD has weak buying power at the moment. There is no update of local highs, the price is returning to the support retest. The probability of support breakdown is increasing
On the daily timeframe the price tried to test the strong resistance 1939, a false breakdown is formed and consolidation below the level. After this phase we saw a local distribution and another retest of the downtrend support. The price is testing another support at 1935.8, consolidation below the level will create a bearish potential and in the short term the price may form an impulse to 1927.
Support levels: trend support, 1935.8, 1927.5.
Resistance levels: 1943.3, 1954.
The probability that the support breakout will be true at this point is very high, the above described prerequisites for why the bulls are weak. On these bases, I am prioritizing a decline
Regards R. Linda!
USDCAD → Range breakout. Realization of consolidation FX:USDCAD has been forming a bearish price channel for a long time. For the last few days, the price has been forming a symmetrical triangle, which is forming an attempt to change trend
The price is moving out of the range on August 2. The impulse is formed on the background of strengthening of the dollar index and the price is testing 1.3370.
Today such news are published as:
1) NonFarm Payrolls (Expected to decline)
2) Unemployment Rate (expected to decrease).
Expectations of the news were not met earlier, the indicators are quite positive for the dollar index, which indicates a stronger economy even as fitch downgraded the US credit rating from AAA to AA+, but this does not say much in the current realities.
The USDCAD currency pair is consolidating in the range of 1.3370 - 1.3320, with another retest of resistance, the level may be broken, but if the price starts a correction, it may head towards the channel boundary.
Support levels: 1.3320
Resistance levels: 1.3370
I expect that on the background of strengthening of the dollar the price may break the resistance and form a movement to 1.3565, but there is a chance of correction formation.
Regards R. Linda!
GOLD → Resistance pressure on D1. Waiting for news OANDA:XAUUSD is forming a descending range after breaking the local trend. On D1, the chart is showing strong pressure from resistance and is forming a descending triangle which could give a strong fall, but there is news ahead...
The price is testing the support at 1943 with the last move, making a false break and thus updating the local low to 1941.29. Based on the situation on the local timeframe and on the D1 we can say that the sellers are stronger, the fundamental background of the last trading week adds some confidence for this.
Today ADP NonFarm Employment Change is published ( analysts expect a decline in the indicator, therefore the dollar may react negatively ), this press release can give us a rough mood for Thursday and Friday ( INJ, ISM, Nfp, UR are published )
Still, technical analysis initially lays a large percentage of the expected movement, even before the publication of the news and at the moment there is a preponderance of forces in the direction that the market is preparing for a fall. When enough weighty news is published, this imbalance may shift and in this case the price may break 1954, 1960 and head towards 1974
Support levels: 1943
Resistance levels: 1954, 1960
In priority I expect a decline to 1943 with the subsequent breakout, but on the background of news the price may act unpredictably and break the resistance. Watch the price reaction.
Regards R. Linda!
🥇 GOLD - Retest of market support, readiness to decline Gold breaks through the 1963 resistance, but as it turns out this maneuver is false. The descending price channel is contributing to the price action, while at the same time price is retesting the support area and retracing back to that area to test the breakout attempt.
TA on the high timeframe:
1) Price is approaching range support. NFP related news may negatively affect the price
2) The liquidity area against which an entry point can be formed is around 1942. A breakout or false breakdown is possible
TA on the low timeframe:
1) On July 27, the price tests 1942 and forms a rally to 1973, after which the price does not go further, but comes back and tests 1942 again, but now already updating the local bottom
2) After a few hours and a retest of the liquidity area 1950-1955, the price returns to the support retest. Most likely the market is negative.
3) A pre-breakout consolidation is forming, which may break the market support under the pressure of fundamental factors.
Key resistance📈: 1950
Key support📉: 1942.5
🥇GOLD - The current scenario is a bear channel Gold is forming a bearish channel, the area of density on the side of resistance, which the price failed to pass, begins to pressure the market and thus makes the price of the asset weaken.
TA on the high timeframe:
1) Price is still in a range
2) The bearish trend is valid
3) The liquidity area where the price can go is below 1943.
TA on the low timeframe:
1) Price breaks 1963 again and forms a false break of the level
2) We should expect price to consolidate below the level, or below 1953 to look for a selling entry point
3) The price is likely to acquire a target in the form of a downtrend support area around 1940.
Key resistance📈: 1963
Key support📉: 1953
Barclays Bank: Descending Triangle Visible on Quarterly ChartBarclays is currently trading within a Descending triangle that is visible on the Multi-Month Timeframes. It has had some wicks below the Demand Line already, but has yet to truly break down.
Whenever it decides to truly break down, there are really no supports below it, so I think it will go and make new all time lows and reach one of the Fibonacci Extensions below; which would take it below a dollar.
💱 NZDCHF - Pre-breakout setup. The market is getting to fall NZDCHF continues to observe a multi-month bearish trend. This time price finds limit support at 0.53362 and continues to make an onslaught on this zone.
TA on the high timeframe:
1) The strong bearish trend continues. Price is unable to update the local highs
2) Flat (consolidation) is being formed. Within the consolidation, the price is approaching the support for another breakout
TA on the low timeframe:
1) A bearish channel is formed. The price bounces off the resistance and tests the support
2) The currency pair is squeezed between 0.54000 and 0.53360
3) Another (4) support retest is formed. Under market pressure after the next test, the price may break the support and head lower towards 0.52500
Key support📉: 0.53360
Key resistance📈: 0.54000
USD/CHF - ShortTechnical Analysis for USDCHF:
- Descending triangle forming (consolidation pattern)
- If price break support level at 0.8570, we could see continue bearish movement
- The break of this support zone would be confirmation of entry
- Indicators are suggesting potential bearish movement to come
- Following the overall trend of this pair, which is bearish
NZDCHF → Activity of dynamic sellers forms a triangle FX:NZDCHF is forming a multi-month descending triangle. Globally, the currency pair is under downtrend pressure. What's going on?
Buyers are forming the limit zone at 0.5444, sellers continue to press this area since the end of April, thus a descending triangle is formed on the chart, which speaks for itself.
False breakdown of the support does not give the result and we see an attempt of another retest of the support level.
Formation of the subsequent test or pre-breakdown consolidation will form the momentum that can break the mentioned support and form a bearish impulse towards 0.5350.
But, if the buyers hold the zone, the price will head upwards. A breakout and consolidation of the price above 0.5496 will be a buy signal.
Support levels: 0.5444
Resistance levels: 0.5496
I expect the support breakout based on the technical feature of the currency pair at the moment.
Medium-term target is the support at 0.5350.
Regards R. Linda!
GALAUSDT - The price is coming out of the old rangeBINANCE:GALAUSDT goes beyond the resistance of the global descending channel that has been forming for a year. Now the price is forming a wedge. What to expect next?
A break of the channel resistance forms a new channel, but at the same time the price is squeezed by the current range boundaries in the wedge format.
In the near future, we should expect a retest of resistance followed by a breakout. The altcoin market is starting to revive and a GALA breakout of this area may give us a good potential.
There may not be a strong reaction at the moment, as bitcoin is in the correction phase, but the prerequisites are clear on the chart.
Support levels: previously broken boundary, 0.02310, 0.1783.
Resistance levels: 0.02694
I expect consolidation followed by a breakout of 0.02694 and then a retest of the wedge resistance. The extreme movement may give a signal.
Regards R. Linda!
🥇GOLD - Forming a breakout pattern and growth continuationGold amid a rally halt after a breakout of the global downtrend forms a pattern of breakout and continued upside.
TA on the high timeframe:
1) After the breakout and trend change, the price stops and forms consolidation. The absence of a fall will be regarded as the readiness of the market to continue growth
2) Consolidation is formed near 1960
TA on the low timeframe:
1) against the background of stopping the rally, the price forms a flag
2) The bullish pattern will start its realization after the price breaks the resistance of the figures. In this case the instrument will get a new potential
3) The important zone for us is 1959-1963. The price going beyond it can form an impulse of 1% and reach the area of 1980
Key support📉: 1953
Key resistance📈: 1959, 1963
GOLD → Active strengthening, retest of a previously broken lineOANDA:XAUUSD has been strengthening during the last two weeks. The signal for this was a false break of support 1907, formed back in March 2022. The price is approaching strong resistance and its growth is starting to slow down. What's next?
Gold is strengthening towards the 1963-1965 area, with a key resistance line close by, which is the previously broken trend support. On Friday, gold draws a false break of one of the local resistances and forms a bearish candle. The session in the first half of the week could be bearish, but for now there are signs that the upside will continue.
Although the Fed is still aggressive, but their policy is not considered as tough as before among traders, speculators and investors. The dollar has weakened quite a bit and continues to fall. The index has broken through a key support area and has entered a range within which it could fall to 95 and even 90, which would be a strong enough momentum for gold to strengthen further to 2000, 2050 and even 2100.
There are several important news releases this week and it is worth paying attention to expectations and the general fundamental background before they are released, as harsh statements can have a strong impact on the price.
From a technical analysis point of view, a strong resistance may be followed by a technical pullback before a further rise. Globally, the situation is neutral and looks even more bearish than bullish, but against the backdrop of the dollar may draw some conclusions.
Regards R. Linda!
Dollar(DXY) - descending triangle pattern
* 1D
The dollar is drawing a descending triangle pattern.
There is a high probability of going to check the bottom because it hit the upper resistance of the descending triangle for the fourth time and the upward trend line is broken.
DOLLAR INDEX(DXY) - Descending Triangle Pattern TP
* 1D
The dollar can set a pattern target price by completing a descending triangle pattern.
There is a high probability that the drop will accelerate.
Mid- to Long-Term Target Price is $96.1 - $96.8
If the dollar falls, stocks and cryptocurrencies are likely to continue their upward rally on the contrary.
Let's see
💱EURGBP - A break of support forms a signal EURGBP is breaking the descending triangle support and at the same time forming a retest of the previously broken boundary. Global trend, 0.85220 resistance plays a key role
TA on the high timeframe:
1) A break of flat support defines a new path for price. A channel to 0.84600 is opened
2) Price is in the liquidity zone. The resistance level at 0.85220 may form a sell entry point
TA on the low timeframe:
1) Bears are developing their scenario. After the support breakout, a predictable retest is formed
2) Global trend and local trend coincide. Both are downtrending
3) If the price enters the triangle range, an impulse to the resistance of the figure may be formed, but in the long term I expect a decline from both the triangle resistance and the level 0.85220
Key support📉: 0.84600
Key resistance📈: 0.85220, 0.85550
GOLD → The price is standing still. What's going on? OANDA:XAUUSD continues to stand still and form a consolidation within the 1938 - 1912 sideways range. The rebound to resistance is likely to continue in the format of a bounce to support.
On the daily and weekly chart there is a consolidation in the red zone, after the breakdown of the key support levels. Most likely an energy buildup is forming before the rally in one direction or the other.
In order for the counter-trend correction to be recognized as a trend change, the price has to break the resistance 1935-1939. In this case the market will start to form a strengthening of the price and a bullish trend will start to form.
At the moment within the counter-trend correction you should wait for the decline from the resistance 1933, or the retest to 1920 (1912) with further breakout and decline to the global minimum.
Support levels: 1920, 1212
Resistance levels: 1933, 1935, 1939
I expect a local rise followed by a fall - since that is how the price behaves inside the range. The Fed is still aggressive policy and most likely, the market has decided to rest a bit before the further movement.
Regards R.Linda!
GOLD → Mid-term perspective OANDA:XAUUSD breaks the uptrend. A break of the support of the bullish price channel ends the impulse to 1893 and forms a smooth transition to the state of consolidation in the flat boundaries
On Friday, the price makes a retest of the previously broken support level of 1935. Tandem of technical and candlestick analysis does not give the preconditions for a possible breakout of the resistance in the near future. In the first half of the week the price might again test the 1935-1939 area and make a false-break. The situation looks bearish at the moment, so my main priority is the downside of the price to 1907 with a new attempt to break-through this support.
The moving averages are also pointing at the formation of a global flat. 1954-1870. The strong pressure from the sellers is likely to be still present in the market.
The medium-term outlook points to a possible further decline.
To make a bet on further growth from the technical analysis point of view, the price should break through the resistance area of 1935-1935, and then the momentum to 1960-1981 will be formed.
There are some interesting news in the week ahead. The inflation in the west is still high and in that case the gold has negative fundamentals as the Fed continues to aggressively look at the rates.
Regards R. Linda!
💱EURCHF - A triangle is formed. We wait for a bounceEURCHF continues to decline and forms a pattern. a break in the support of which will form the continuation of the trend.
TA on a high timeframe:
1) A flat is forming. But, the price does not reach the resistance and continues to fall to the support.
2) The retest at 0.97505 might form a breakthrough, which will send the price to 0.97200.
TA on the low timeframe:
1) Within the triangle, the price drops to 0.97375. A retest of the figure support and subsequent pullback is possible. At the moment the price continues to form a pattern
2) Within the figure we may buy from support and sell from resistance.
3) I expect strengthening of the price from the support area till the retest, then from the upper border we will consider short set-ups
Key support📉: 0.97357
Key resistance📈: 0.97660
