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Fibonacci

Gold Wave Analysis 6 November 2024 - Gold broke support area - Likely to fall to support level 2600.00 Gold recently broke the support area located at the intersection of the support level 2680.00 (former monthly high from September), support trendline of the daily up channel from September and the 61.8% Fibonacci correction of the upward impulse 1 from the start of October. The breakout of this support area accelerated the active minor ABC correction from the end of November. Gold can be expected to fall further to the next support level 2600.00 (which stopped the previous intermediate correction (4) in October).
FX_IDC:XAUUSDShort
by FxProGlobal
Next stop 82K , 91K, 103KThis is a simple Fib weekly chart analysis showing you the next price BTC 127.20% = $82,370 141.40% = $91,135 161.80% = $103,728 Some of you maybe see this is not going to happen, but I am telling you since Trump won the election, The BTC will hit the green peak candle at $138,000K that candle is a sign to show people that BTC will reach this price oneday, believe it or not, but I am telling you you still can make money in Crypto, with future trading.
Long
by khaledabdrabo
1
DOGE Swing Trade Opportunity after Trump and Elon Musk's VictoryWith the recent victory of Donald Trump in the 2024 U.S. presidential election, the crypto market has responded with a wave of optimism, particularly with Bitcoin (BTC) reaching new all-time highs. This bullish sentiment has trickled down to Dogecoin, which saw a significant price surge of approximately 15%. Now, with Musk’s push for the D.O.G.E. initiative—aiming to streamline government and reduce spending by trillions—the market is seeing a potential for CRYPTOCAP:DOGE to become more than just a meme coin; it could emerge as a symbol for Musk’s broader political and financial influence. This, more than any short-term rate decision from the Fed, could be the real driving force for Dogecoin in the coming months. FOMC & Market Pullback The Federal Reserve's interest rate decision scheduled for tomorrow could bring volatility to the crypto market. A rate hike could trigger a temporary pullback across major assets, including DOGE. However, these pullbacks may present ideal entry points for traders looking to capitalize on the overall bullish sentiment fueled by a pro-crypto administration. Key Levels to Watch for DOGE Primary Entry Level – 0.618 Fibonacci Retracement A significant level to watch for DOGE’s pullback is the 0.618 Fibonacci retracement level, which aligns closely with a 1-day Fair Value Gap (FVG) and the Point of Control (POC) from the volume profile. This confluence makes it a high-probability entry level where DOGE is likely to find support. This zone, marked around the $0.16 - $0.17 range, is ideal for both leverage and spot traders looking to go long. 1-Week Order Block Target Zone For swing traders, the upper target range sits within a 1-week order block between $0.27 - $0.28. This level represents a strong resistance area and an ideal zone to take profits gradually. Given the bullish sentiment in the broader market, reaching this zone could result from continued positive momentum, especially if Trump's administration continues to promote a crypto-friendly stance. Trade Setup Summary Entry Zone: $0.16 - $0.17 (0.618 Fib + 1D FVG + POC) TP Levels: TP1: $0.21 TP2: $0.24 TP3: $0.27 - $0.28 (1W OB) Stop Loss: Below $0.15, to protect against deeper pullbacks if the market turns bearish. Caution As the FOMC decision approaches, expect potential price fluctuations. Monitor the market closely, as rate hikes could impact liquidity and create short-term volatility. Being cautious with leverage and adjusting positions based on market conditions is essential. Have a safe and victorious trade everyone, Cheers!
Long
by MadeByAK
1
Toncoin TON price will surprise everyone💎If you look closely at the OKX:TONUSDT chart, you can see/think that the last six months have seen a global trend reversal pattern - Head and Shoulders. But! This pattern will be confirmed after the price of CRYPTOCAP:TON is firmly fixed below $4.50. Then the target is $2.30-2.50. However, this is all very obvious, trite, and not interesting) We want this idea to become prophetic and Legendary, so we hope for the beginning of a hypercycle of #Toncoin price growth with an ultimate goal of $93 _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
by P_S_trade
2
XAUUSD - Will Trump cause gold to fall?If gold reaches the bottom of the descending channel, which is also in response to the demand zone, we can look for gold buying positions. Donald Trump won in Wisconsin and got 10 electoral votes, and Trump's total electoral votes reached 277 electoral votes. In this way, Donald Trump became the 47th president of the United States. The rise in long-term interest rates and the broad sell-off across the Treasury yield curve reflect public expectations for an inflationary mix of domestic (fiscal and immigration) and foreign (tariffs) policies from Trump. Also, we see movements in short-term US dollar swap rates related to the hawkish revision of Fed interest rate expectations. In line with forecasts and public expectation, markets still expect the Federal Open Market Committee (FOMC) to cut interest rates by 25 basis points to 4.75% tomorrow.
FOREXCOM:XAUUSDShort
by Ali_PSND
XAUUSD 4HR BULLISH SWING?WEEKLY: Still bullish and just reached the 23.6 retracement level and isnt far from touching 38.2 retracement level. 4HR: Still bearish with a new low being made into the WEEKLY DEMAND ZONE. Need bullish momentum. 30MIN: Still bearish but need momentum to slow down to enter for buys. REWARD:RISK Ratio: 4.50:1 or 10:1 ENTRY: 2705 area as the 3MIN momentum is starting to show as bullish in the WEEKLY DEMAND ZONE. EXIT: 2 options. Could exit at the previous high on 4HR. Or could exit at the -27.6 Extension line where the 23.6 WEEKLY pullback would have been completed. STOP LOSS: 2695ish area below 38.2 WEEKLY retracement line.
OANDA:XAUUSDLong
by WontStopThesePips
Uniswap UNI price "wake up"💰 The city falls asleep - the unicorn CRYPTOCAP:UNI wakes up Now OKX:UNIUSDT price has "hit" from down the local trend line, so: if you are a happy holder of the #Uniswap token, just keep your fingers crossed that the price will break through and continue to move towards $13 if you want to buy this asset for your crypto portfolio, with the prospect of taking +70% profit by the end of the year, then first wait until the #UNIUSD price breaks through and consolidates above the red trend line. _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
by P_S_trade
USDCAD - Trump gave a new trend to the dollar!The USDCAD currency pair is above the EMA200 and EMA50 in the 4H timeframe and is moving in its medium-term bullish channel. If the upward movement continues, we can see the supply zone and sell within that range with the appropriate risk reward. The correction of this currency pair towards the demand zones will provide us with the next buying positions. Following the announcement of Donald Trump’s election victory, the U.S. dollar has risen against almost every currency globally. Markets are not only preparing for Trump’s presidential win but also foresee a Republican-controlled Congress, which is crucial for the incoming president’s ability to implement policy changes through the U.S. government. Ahead of the October 23 monetary policy meeting, officials at the Bank of Canada believed that inflationary pressures were on a downward trend and further tightening of monetary policy was unnecessary. They considered a 0.25% rate cut, though strong consensus emerged for holding off based on economic data observed since July. Officials noted that a rate cut would require time to sufficiently impact per capita consumer spending and counterbalance the overall consumption decline driven by slower population growth. They agreed to continue normalizing their balance sheet through maturing bonds. According to informed sources, OPEC+ has reached a preliminary agreement to postpone an increase in oil production for December. This agreement includes countries such as Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman, which have decided to extend their voluntary oil production adjustments until the end of December 2024. One key factor weakening the Canadian dollar is the country’s economic challenges. The Canadian housing market is facing serious difficulties due to rising interest rates, and the decline in demand for new home purchases has dimmed future prospects for the market. Additionally, slower population growth, largely dependent on government immigration policies, is negatively impacting the economy. Nonetheless, some hope that China’s economic stimulus efforts and rising natural commodity prices might support the Canadian dollar, though these factors carry their own risks. BlackRock has stated that expectations for a Federal Reserve rate cut are overly optimistic. The bank cited the following reasons: U.S. third-quarter GDP data show that consumers remain the main driver of economic growth. The average monthly job creation over the past three months has been 104,000 jobs, a healthy rate, which is likely to rise considering hiring pauses due to storm disruptions.
Long
by Ali_PSND
S&P 500 Change of CountsThe new high made during this election day has made me change the count. A reader of my post did comment and share a link on this new count which I did have in a couple of my posts, but I have to admit a mistake as a mistake and a bias as a bias. Now that S&P has made a new high, we must have a new target. Based on Elliott Wave, there IS A MAXIMUM target of 6208.5 based on Oanda CFD. This is because wave 3 is currently the shortest wave and that is not allowed in EW (the alternative is that this wave 3 is actually wave 1 of 3). But any price below 6208.5 is good as a peak. We have to wait until wave structure firms up before making another call.
OANDA:SPX500USD
by yuchaosng
GBPUSD → Negative fundamental background. Going to 1.2500FX:GBPUSD is reversing after a retest of strong resistance with no opportunity to enter the liquidity zone. The negative fundamental background is confirmed. The dollar is flying upwards. News channels and not only already declare about the victory of Trump, whose policy is directed towards the strengthening of the dollar. Markets are starting to react accordingly. As for GBPUSD, in the last article I focused your attention on 1.2813 and 1.305: If after a pullback to the resistance the price starts to retest the support, the chances of a breakdown and further decline will increase. The fundamental background, formed at the moment, is favorable for the fall of the currency pair. Resistance levels: 1.294, 1.30, 1.3044 Support levels: 1.2813, 1.2672, 1.25 The technical and fundamental background are going in the same direction. Emphasis on the key support. A slight pullback is possible before further breakout. Also continue to follow the news! Rate, share your opinion and questions, let's discuss what's going on with ★ FX:GBPUSD ;) Regards R. Linda!
Short
by RLinda
10
GOLD → The SMAs are hinting that it's about time ... News!FX:XAUUSD is forming a phase of correction, the reason for which is the change of fundamental background. The pressure from sellers is increasing, and the market is forming a key support at this time... Disappointing NFP data was offset by hot wage inflation data. The U.S. labor market report failed to deter dollar buyers as it had limited impact on market pricing in Fed meeting expectations. Which had a negative impact on the price of gold... All eyes are now on the US presidential election on November 5, and the outcome of the Fed meeting on Thursday. Markets believe that Trump's policy will put upward pressure on inflation, bond yields and the dollar, while if Harris wins, the dovish policy will continue. Technically, traders are taking a wait-and-see approach. The price is forming a range, and most likely gold will trade inside this channel in the near term Resistance levels: 2745, 0.5 and 0.7 Fibo, 2758 Support levels: 2731, 2724, 2713 SMAs are tending towards each other, which could be a mixed reaction from traders. Markets are prioritizing a Republican victory, in fact, this could intensify gold's correction. But the denouement of the presidential race is tomorrow! For now, the focus is on the flat boundaries! Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDShort
by RLinda
29
APEUSDT → Is the dump still in progress? Emphasis on resistanceBINANCE:APEUSDT in the dump phase updates lows. Consolidation and a slight pullback is forming before important news from the US. There is a storm ahead! The coin pump is most likely a manipulation of fundamental facts related to the launch of Level 3 blockchain. But based on the overall situation, traders do not believe in further growth ... Technically, the coin is in the channel 0.963 (deeper 1.032) -0.900, accordingly, at the time of writing, prices are diving after bitcoin as markets are betting on Trump's victory, which puts a favorable wind on this market. But the outcome could be 50/50 as the politicians in the race go toe-to-toe... I emphasize the range boundaries to form a short and medium term strategy for APE. Resistance levels: 0.963, 1.032 Support levels: 0.900, 0.875 Technically, the primary target is resistance. Further we should consider a false breakdown with a possible decline to support, which may lead to a breakout and further decline to the zone of interest 0.733 - 0.695 Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:APEUSDT ;) Regards R. Linda!
Short
by RLinda
6