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Fibonacci Retracement

GOLD → Is it time for a correction? Retest of 2650 supportFX:XAUUSD is cooling down. Earlier the price updated local highs. Now the metal is testing 2650 as a support level. At the moment, the price is entering the panic zone, which may provoke profit-taking before Powell's speech. Technically the market is bullish, but after the formation of ATH 2685 the price is not ready to test and update these highs. The influence of the interest rate cut has cooled down and traders are starting to focus on the incoming actual data. But we should not forget about the situation in the Middle East. Chicago PMI and Powell's speech at 17:55 are ahead. Everything depends on his comments and the tone he will give to the markets. Based on the overall technical situation and technical overheating of the syuatation, we can assume that the price may extend the range and test the support at 2634-2623-2613 before the market returns to recovery. Resistance levels: 2660, 2675 Support levels: 2634, 2623 I am waiting for a correction with a possible retest of the key support zones. Most likely we should count on the confirmation of the range boundaries and the formation of a flat between 2600(2615) - 2685 Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDShort
by RLinda
12
USDJPY → No upside potential. Prepare to fall!FX:USDJPY is facing a sell-off at the end of last week, which proves that the currency pair is not ready to go up. The dollar still continues to prepare for a breakout of 100.0. The currency pair is not able to approach the local highs, however, after the reduction of interest rates in the U.S. Japan refrained from any economic decisions regarding this issue. The pressure on the dollar has a corresponding effect on the currency pair. At the moment the price is facing a strong support at 141.74, from which a small correction to the liquidity or imbalance zone may follow, but with a high probability (technical and fundamental nuances) we may see a continuation of the fall. Resistance levels: 143.25, 144.0, 145.18 Support levels: 141.74, 139.5 In the short term, I expect a slight pullback followed by a continuation of the fall, breakdown of the key support and price decline to 139.5-138 Rate, share your opinion and questions, let's discuss what's going on with ★ FX:USDJPY ;) Regards R. Linda!
Short
by RLinda
8
NEO Analysis - What Shall we Expect !!!BINANCE:NEOUSDT As you can see, the price is in a Megaphone. If the price can break this megaphone, we can hope that the price will act like a Crab pattern and the price will grow well. ❤️Stay awesome my friends. ✨Traders, if you liked this idea or have your opinion on it, write in the comments, We will be glad. _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⚠️Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Long
by CobraVanguard
2
FTM-USDT 1D chart Hello everyone, let's look at the 1D FTM to USDT chart, in this situation we can see how the price has broken out from the downtrend line. Let's start by setting goals for the near future, which include: T1 = $0.74 T2 = $0.85 T3 = $1.02 T4 = $1.23 Now let's move on to the stop-loss in case the market continues to decline: SL1 = USD 0.62 SL2 = USD 0.45 SL3 = USD 0.35 SL4 = $0.25 The MACD indicator shows that despite the significant increase, there is room for the price to go up further.
by cryptodailyuk
MRF Ltd. (NSE: MRF) – Technical Analysis UpdatePattern Formation: MRF Ltd. has been forming a cup-and-handle pattern over the past several months, indicating a bullish continuation. The stock has successfully tested the key Fibonacci retracement levels and is now moving towards potential breakout zones. Cup-and-Handle Formation: The rounded cup formed after the stock declined from its peak around ₹150,995 and found support near ₹115,601. The handle has now completed, as the stock consolidated within a falling wedge pattern, building strength for the next leg upwards. Key Resistance Levels: Immediate Resistance: ₹144,045 (4.26% upside) – This level aligns with the upper boundary of the wedge pattern. A breakout above this level would signal strength, confirming the end of the handle phase. Major Target: ₹161,250 (16.54% upside) – This represents the projected target based on the full breakout of the cup-and-handle pattern, leading towards a possible rally to the previous all-time highs. Support Levels: Strong Support: ₹133,298 – This aligns with the 50% Fibonacci retracement level, where the stock has shown significant buying interest during previous dips. Key Fibonacci Levels: 61.8% (₹133,475) and 38.2% (₹129,121) act as pivotal zones for any pullback in case of renewed selling pressure. Volume Profile & RSI: Volume Analysis: The recent volume spikes, especially during the approach to the wedge breakout, show accumulation, confirming investor confidence. RSI: The Relative Strength Index is approaching the 60-70 range, suggesting a healthy bullish trend without overbought conditions. Outlook: If MRF Ltd. breaks out of the ₹144,045 resistance level, it could see a swift move towards ₹161,250, a potential gain of 16.5% from current levels. Traders should look for strong volume confirmation during the breakout for additional momentum. Risk Factors: If the stock fails to sustain above ₹133,298, there could be a deeper retracement to test lower Fibonacci levels, with downside risks towards ₹129,000-125,000.
NSE:MRFLong
by AngshumanSaikia
GBPJPY → A sideways range is forming. Emphasis on resistance...FX:GBPJPY is strengthening after forging a double bottom at 184.0. It is also favored by the JPY correction on the back of the dollar correction after the unpredictable reaction to the US interest rate cuts... The currency pair may continue its decline from the resistance zone 192-193.5. This is facilitated by a number of nuances: Japan still holds the course for further strengthening of interest rates in order to save the value of the national currency. The dollar may continue its fall after traders come to their senses after the US interest rate cuts.... Overall, this tandem can have a strong impact on the JPY strength and on the currency pair as a whole, allows to form a medium-long term strategy on the currency pair. Technically, I am waiting for a false breakdown or bounce from the mentioned resistance zone with the subsequent decline to the liquidity zone.... Resistance levels: 191.4, 193.48, 193.97 Support levels: 190.5, 186.7 BUT! If the bulls manage to consolidate above 193.97, then an upward impulse may be formed, because at the moment the environment (technical and fundamental background) is still tense... Rate, share your opinion and questions, let's discuss what's going on with ★ FX:GBPJPY ;) Regards R. Linda!
Short
by RLinda
11
Gold OutlookAs gold was bullish all the week and we are also bullish for gold all the week but today it has shown us bearish move today we are still bullish but as due to fundamentals gold broke its support level to the downwards and seems and also has retested the same if gold sustains the downwards move after price action candle 🕯️ we will be bearish to 2630 level of support and then we are Bullish after taking support over 2630 as i am saying in all my anylisis that gold is bullish over Monthly to Weekly to Daily to H4 to H1 TF so we are bullish will be bullish over next week too hope for the good 👍😊
OANDA:XAUUSDLong
by Wakeel_Saab
MKR/USDT 1W Chart Long-TermHello everyone, let's look at the 1W MKR to USDT chart, in this situation we can see how the price is staying in the downtrend channel, at its lower boundary. Let's start by setting goals for the near future, which include: T1 = $2,063 T2 = $2,454 T3 = $2,767 T4 = $3,080 Now let's move on to the stop-loss in case the market continues to decline: SL1 = $1563 SL2 = $1250 SL3 = $953 Looking at the RSI indicator, we can see that we are already quite low, which may result in an attempt to change direction, the movement of which appears to have begun.
by cryptodailyuk
EURUSD → Bounce from 1.1200 before further growthFX:EURUSD has been rallying since the beginning of the Asian session and is reaching the key resistance at 1.1200. The psychological level has quite a strong weight on the market and it will be difficult to break this area from the first time.... A rebound is forming on H4-H1. On D1, a rather wide range of 1.120 - 1.105 is forming in the market but after the price exits the descending wedge, which is a rather promising bullish premise. Due to the strong distribution to 1.1200 the market has no potential to break through this zone, accordingly, in the short (mid) term I expect a pullback or consolidation in the range 1.12 - 1.114 ( 1.111) and the subsequent retest of the upper boundary of the range with the aim of breaking through and further growth to 1.127 - 1.135. Resistance levels: 1.120 Support levels: 1.114, 1.111 There is a huge pool of liquidity above 1.12, which will not allow buyers to overcome this obstacle so easily. We are waiting for a correction and a further breakdown, which will be followed by growth. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:EURUSD ;) Regards R. Linda!
Long
by RLinda
16
DOGE → Another manipulation or growth? What to expect next?BINANCE:DOGEUSDT in the distribution phase is aiming for a strong resistance at 0.11546. The global and local trend is bearish and there are no hints of breaking it yet. A contrend rally is forming.... On H4, the sideways range plays a relevant role. The last time we tested 0.11546 at the moment of its formation - exactly 1 month ago. There is no potential for breaking the level and further growth on the background of such a strong movement. The most probable scenario in this case is a rebound or a false breakdown, which may lead to a correction. BUT! The structure may be broken if there is no pullback or the coin will start to form consolidation near 0.11546 with further signs of resistance retest and readiness to go higher.... Resistance levels: 0.11546 Support levels: 0.11099, 0.107, 0.103 DOGE does not enjoy any strong interest from traders due to the high level of manipulation by big players. At the moment, on the background of the global bearish trend it is worth looking for strong resistance levels with the purpose of catching bounces Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:DOGEUSDT ;) Regards R. Linda!
Short
by RLinda
9
Platinum: Little Consolidation (Wave 4); Golden RatioWe can see a very well defined cycle, and wave 1 to 3 already created. This new cycle could be a consolidation, the price can drop to 14,6% or 23,6% level. Or even in the middle between 38,2% and 23,6%, where other wicks has already touched, creating a support, where can also occur the last candle of Wave 4. Open interest in NYMEX:PL1! is falling and the major trend rising, it can occur a reverse, and this reverse will be the Wave 4. RSI left the Overbought level, followed by a failure swing, resulting in continued decline of the indicator. After the peak $1,016.45, ADX is losing strength while DMI+ has a high probability of changing position with DMI-.
CAPITALCOM:PLATINUM
by AFCapital21
MSTR returns to a bullish status ? What a hype on the tech values ! After a correction and a consolidation materialised by the range, MicroStrategy will return to a bullish status ? My idea is the following : - Technically, we have break the most important Fibonnacci's value : 61.8% - Fundamentally, all economic figures are in green (inflation decreases, rates too). That's why I will trade this stocks by waiting the pull-back on 61.8% with the following inputs : - SL just below 50% - TP #1 is 100% of Fibonnacci movement. - TP #2 is the all time high This is a short-term trade as a swing position - not an investment idea. Take care GUYS !!
NASDAQ:MSTRLong
by QuentinKister
GOLD → The safe asset continues to be bullrun ↑FX:XAUUSD does not react properly to the growth of the dollar. The metal continues to renew highs and seeks upward. There is no resistance ahead and the geopolitical backdrop is blowing a favorable wind.... Gold is holding near an all-time high as buyers refuse to give up amid recent Fed comments, China's stimulus (China's Central Bank today announced an unprecedented blitz of support for the economy) and escalating geopolitical tensions in the Middle East. China is the world's top consumer of the yellow metal The gold price tends to benefit from geopolitical tensions due to its traditional safe-haven status. Also, the Fed will continue to hint at another 0.5% rate cut Resistance levels: 2634, 2640 Support levels: 2623, 2614, 2602 The general background hints at an active continuation of the growth. If gold will consolidate above the maximum of the previous day, then in the mid (short) term we should consider the continuation of growth to 2650-2660-2675. It is not excluded that there may be a correction before further growth due to the approaching important news... Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
21
BITCOIN → There's a conglomeration of resistances ahead: 65-69KBINANCE:BTCUSD is forming a bull run amid a 0.5% cut in US interest rates, but investors' fervor may be cooled quickly enough by new economic news. The situation is not as simple as it seems.... It's also the most likely scenario We need to be careful as the price is approaching a conglomeration of strong resistances. Pressure could come from both the 65K area, which is still untested, and the area above - 68K - 69K. Let me remind you that globally bitcoin is in a descending channel. Globally ( D1-W1 ) the asset looks good for continued growth, but locally ( D1-H4-H1 ) I don't see any signs that the market is ready to overcome the resistance zone above. Trades may get nervous ahead of next week's new news: SP PMI, DGP, DGO and Fed chief's speech. If the indicators become sharply unpredictable, all the speculators' bullish fervor may cool down very quickly and in that case we may meet the correction phase amid profit taking.... Resistance levels: 64K, 65K, 68K, 69K Support levels: 62750, 61300, 59400, 57730 Now, above 62750 a consolidation is forming. If the price does head towards 64-65K, we should keep an eye on the global resistance. But, if bears sell the price down and bitcoin consolidates below 62750, then an impulse to the nearest liquidity zones may be formed. Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:BTCUSD ;) Regards R. Linda!
Short
by RLinda
22
BTC TO 45-43K BEFORE MAKING NEW ATH COINBASE:BTCUSD BINANCE:BTCUSDT Hello everyone. Bitcoin is trading in a bearish channel. I have left alot of indicators and other chart things off to keep it clean and show my main points. But remember we are in a wave 4 of 5 and have not hit the retracement target yet. Prices always move back toward equilibrium. As you can see on the chart in purple. This lines up nicely with the 1.618 and 1.786 fib extensions of the swing low to swing high. It also intersects with the base channel which is a typical wave 4 target. Wave 4 typically hits the top or middle base channel. The fib extensions line up nicely with the mid channel. This creates a significant area of interest and a likely spot to land before making a new ath. If you disagree with me please use data and examples and not emotions. Thanks everyone!
COINBASE:BTCUSDShort
by member_berry
1
SWING IDEA - MACROTECH DEVELOPERS (LODHA)Macrotech Developers , a prominent real estate company in India, presents a swing trading opportunity based on its current technical setup. Reasons are listed below: 1200 as a Strong Support Zone : The 1200 level has been a significant support zone, providing a strong foundation for a potential upward move. Double Bottom Pattern on Daily Timeframe : A double bottom pattern has formed on the daily chart, which is a classic bullish reversal pattern, indicating the potential for an upward trend after testing the support zone twice. 50 EMA Support on Weekly Timeframe : The stock is finding support at the 50-week exponential moving average, which often acts as a strong support level, reinforcing the bullish sentiment. 200 EMA Support on Daily Timeframe : The 200-day exponential moving average is also providing strong support on the daily chart, indicating the long-term trend remains intact. 0.382 Fibonacci Support: The stock has bounced off the 0.382 Fibonacci retracement level, suggesting that the current price level is a strong support area, and there may be further upside potential. Target - 1415 // 1600 Stoploss - weekly close below 1100 DISCLAIMER - Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services. @visionary.growth.insights
NSE:LODHALong
by Visionary_Growth_Insights
7