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💱EURCAD - Symmetrical triangle before the impulseEURCAD stops near strong resistance and on the background of bullish trend the chart is forming a pattern that can form both upward and downward momentum TA on the high timeframe: 1) Globally, a bullish trend is visible, but before strong resistances the price stops and forms consolidation 2 Consolidation is forming between key liquidity areas TA on the low timeframe: 1) A symmetrical triangle is formed against the background of a bullish trend 2) Positive aspects of this pattern are that it is clear where to open trades (border breakout). 3) But, at the same time, in a bullish trend the price can break the support of the pattern and we will see a correction. 4) It is not important for us which of the borders will be broken, we need to wait for a signal, and it will be a breakout of the border with subsequent consolidation below or above the line. Key support📉: lower triangle boundary, 1.47000. Key resistance📈: upper triangle boundary, 1.47978
Long
by AndeWave
6
GOLD → Can the XAU stop falling? OANDA:XAUUSD is declining amid the strengthening of the dollar index. The latter in its turn broke a strong resistance, and XAU continues to update the lows There is a possibility that the decline in gold may stop, but only if the trend resistance is broken. The price will go into a sideways flat condition, which will force the price to trade in the 1900 - 1800 range. At the moment, the XAUUSD pair is within the boundaries of the bearish price channel. A resistance retest is being formed, which could push the price beyond 1890 and trigger another drop to 1880. On the global chart on Sunday, we saw the current bullish trend where I described the potential for the medium-term outlook of the XAU. The market is bearish and we should prioritise looking for resistance levels for selling Support levels: 1890, 1884 Resistance levels: 1894, 1900 I expect a bearish scenario to form in the market, but gold may try to break the trend resistance. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
23
GOLD → Prerequisites that the price will continue to fall OANDA:XAUUSD finally breaks the medium-term support line and updates the low to 1885. The trading week closes near the local support level, which indicates that the market is ready to continue the trend This week ended positively for the dollar, the metallo reacted as expected. There are several important news items to watch out for in the coming week: 1) Building Permits 2) SP Global US Services PMI 3) Core Durable Goods Orders 4) Initial Jobless Claims 5) Fed Chair Powell Speaks There is talk within the FED that the market is not ready to weaken yet as inflation is still at a high level, but again, rumours and facts affect the market in categorically different ways From a technical analysis point of view the market is preparing to decline further as the global upward price channel was broken earlier, price breaks strong support and also breaks MA200, at the end of last trading session price closes very close to the risk zone, breaking through which will form a downward momentum. Support levels: 1885 Resistance levels: 1902.9 The market is weak, the dollar index continues to strengthen actively, which may continue to negatively affect gold. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
19
BTCUSD → An impulse that scares the buyer. What's next? BITSTAMP:BTCUSD is breaking the 26700 support and MA-200 forming a strong bearish momentum, but at the same time the price is not breaking the bullish channel. In terms of global outlook, the price is still in an uptrend Pay attention to the weekly chart on the left. Price is forming momentum and a strong distributive move towards the strong support at 25000. The level is important for us, has a double confirmation, the first confirmation was from the sellers side, the second from the buyer side. I think that another retest, and especially after the distributive movement, may give us either a reversal or at least a strong bullish reaction. Traders are waiting for fundamental confirmation for cryptocurrency action. At the moment it is the approval from the SEC of BTC-ETF futures applications. This will give a new breath to the market. Most likely, this movement within the uptrend may be triggered for the sake of buying the asset at a lower price before further strong growth The moving averages are acting as resistance. The market is in a correction phase. Support levels: 25000, 24819 Resistance levels: 26707, 28474, 30575 The market is in the phase of a bullish trend, a correction is forming within the upward channel on the garfish, which may end near support Regards R. Linda!
BITSTAMP:BTCUSD
by RLinda
24
Bitcoin is starting to crash to 20,330 USD! (emergency) The major uptrend from 15500 to 32000 is over, and the bears are stepping in! I expect 20330 to be hit in the next few weeks, so make sure you are prepared for it! We can clearly see that the major trendline / parallel channel is breaking down! The price is below the trendline, and what's more, if we take a look at altcoins such as ETH, it confirms this analysis! We have finished the first cycle (1) of a huge (1)(2)(3)(4)(5) impulse wave. Now we are in cycle (2), which will send the price of Bitcoin to 20330, according to my technical analysis. Why 20330? We still have the unfilled CME GAP, which you know because I have been talking about it for more than a few months. Also, we have the 0.618 FIB retracement in confluence. This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately. From the Elliott Wave perspective, waves marked as (1) have usually deeper retracements, such as 0.618, 0.764, or almost 1:1. It also tends to fill previous gaps because breakaway gaps usually appear when wave (3) starts. It took 234 days for wave (1) to be completed. Compared to the stock market or gold, Bitcoin is struggling this year. Gains were overall pretty low. Bitcoin has been going sideways for a long time, and the direction is unclear. The volatility index on Bitcoin is at extreme lows, so a big move is expected! A big pump at the current price doesn't make too much sense. But a big dump is definitely on the table. Let me know what you think about BTC in the comment section! Thank you, and for more ideas, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
243
🥇GOLD → The chart gives a set-up to sell Gold breaks through support and makes a momentum move and updates the global low to 1889. It is likely that the market may continue to fall TA on the high timeframe: 1) The nearest point from which we can expect to buy is 1902.87, a false breakout can be formed but it will take a lot of time TA on the low timeframe: 1) Price breaks the support of the wedge, forming a correction 2) The correction may confirm the bearish market sentiment 3) The decline may continue from 1896.45 4) In the long term, there is a chance that price could fall to 1881. 5) The price needs to strengthen to 1903 to expect a rise Key support📉: 1891, 1881 Key resistance📈: 1896, 1903
OANDA:XAUUSDShort
by AndeWave
19
GOLD → The bears are taking the gold to the den OANDA:XAUUSD amid numerous resistance retests is not yet able to break it. Fundamental data is still on the side of the dollar. The gold price continues to fall and update the lows The price bounces off the channel resistance and falls, testing 1890. A false breakout is formed against the mentioned support and the price starts a local rebound. Most likely, gold may test 1900 in the near future before falling further. There is still a strong bearish trend in the market. Yesterday's fundamental data is positive for USD. As the dollar index strengthens, we see the gold price falling. In the medium term, we should expect the metal price to continue falling. Support levels: 1890 Resistance levels: 1900 I expect a retest of the resistance area before a further fall. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
29
ETHUSDT → Retest of MA200 and trend supportBINANCE:ETHUSDT is testing a strong support area in the correction phase amid a bullish global trend. Bitcoin is falling and dragging the whole market with it The price of Efirium is testing the support of the ascending triangle - this set-up is now global. At the same time, the price is testing the MA-200 (daily), which supports the trend. In our case, if this retest turns out to be false and the price forms a false breakout and is able to consolidate above the MA-200 and above the 1800 level, then the market may switch to a bullish direction again. In this case, the scenario will start to develop, which includes price growth to 2020 and in the medium term to 2457. While bitcoin is dragging the whole market down, it will be hard for altcoins to break out upwards. At the moment, the moving averages are clamping down on the price, with the coin trading in a narrow range. Support levels: 1800, MA200 Resistance levels: 1872, MA50, 1900 In priority I am waiting for a false breakdown and continuation of the ascending triangle formation. Regards R. Linda!
Long
by RLinda
9
🥇GOLD - Wedge. Resistance breakout. What could happen? Gold breaks the resistance of the key figure and prepares for further growth. What is likely to happen? Will there be a rise or a fall? TA on the high timeframe: 1) A false breakout is forming on D1. Quite a complicated setup that stretched for two days 2) After the false breakdown the price may be interested in the area of 1912-1920. TA on the low timeframe: 1) A bearish wedge is forming on the chart 2) The price forms a rebound from the support of the key figure and an impulse of 36% is formed, which indicates an active attack of buyers. 3) The price breaks the resistance of the wedge, a figure that can break the trend, most likely the rebound can last until the nearest strong resistance. Key support📉: 1902.87 Key resistance📈: 1914.12
OANDA:XAUUSDLong
by AndeWave
5
💱EURCAD - Ascending triangle EURCAD continues its bullish trend. The price is testing the resistance on the background of upward movement. There is a chance for a quick breakout TA on the high timeframe: 1) Accumulation is formed near the level of 1.47728. At the next retest, the price may break the resistance 2) The liquidity area of interest for the price is above 1.48560. TA on the low timeframe: 1) A triangle is forming 2) Price bounces off the support on the background of a bullish trend 3) A retest of resistance is forming, increasing the chance for a breakout Key resistance📈: 1.47600, 1.4796 Key support📉: 1.4700, 1.4654
Long
by AndeWave
4
GOLD → Bearish trend resistance breakout. realistic? OANDA:XAUUSD makes a false breakout amid the news. The price is testing the 1900 liquidity area. The chart set-up and pin-bar form a bullish potential On the chart we also see the strengthening of the price. Gold makes an attempt to break the bearish resistance and for a few hours the price forms a consolidation above the previously broken line. On the chart I have indicated the upper boundary at 1912.7. I think there is a chance that after a strong fall, the price may go into a consolidation or flat format. 1912 is a strong and liquid resistance and is likely to push the price back to the support, which will only confirm the flat. Our task after the breakout of trend resistance is to pay attention to strong levels to open positions for breakout, rebound or false breakout. It is too early to talk about the trend change. We are watching the price. The price is testing MA-50 for a breakout. If it happens, gold will strengthen to MA-200. Support levels: 1902, 1900 Resistance levels: 1906.5, 1911.5, 1912.7 I expect a correction to the resistance. From 1912 a pullback and retest of support is possible. Regards R. Linda!
OANDA:XAUUSD
by RLinda
22
CADCHF → Downtrend triangle on the background of a bearish trendFX:CADCHF under trend pressure is forming a setup to continue the trend and update the global lows. The currency pair is in the bearish phase. The price continues to decline and test the strong limit support line at 0.64990. A descending triangle pattern is forming on the chart, which can be interpreted as pressure from dynamic sellers on limit buyers at 0.64990. The price is within the descending price channel, a retest of the trend resistance each time sends the price to the indicated support - a strong signal for a breakout Moving averages act as resistance Support levels: 0.64990 Resistance levels: trend boundary, 0.65450 I expect a bounce from resistance, which will lead the price to another retest of support, which may help the price to breakout. Regards R. Linda!
Short
by RLinda
13
Bitcoin - Secret parallel channel! (Important update) Bitcoin is bullish, and I expect its price to reach levels above $30,500 in the short term! That's because we have this secret parallel channel that no one talks about. It's important to take profit on your intraday trades at the top of the parallel channel! I believe Bitcoin can rise much more, to 32k, until the end of the month. But of course, volatility on Bitcoin is currently extremely low, so this can take some time. I recommend buying XRP for the long term; the current price is very good. Check out my previous analysis on XRP in the related section down below. But be really careful in September, because this is statistically the worst-performing month for Bitcoin. Usually, Bitcoin goes down during this period of time. But after that, we have October and November, and these months are, on the other side, extremely bullish! From the Elliott Wave perspective, Bitcoin has completed the complex correction double three (WXY). We can definitely start a new impulse wave from here, but it can also transform into a triple-three pattern (WXYXZ). This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately. This was a quick update on BTC. Some altcoins are pumping heavily, but these pumps are most likely a game of whales. To catch these coins, you have to sit on the right coins before it happens. Thank you, and for more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
73
💱GBPCAD - Symmetrical triangle will provide upside potential GBPCAD is forming a retest of resistance at 1.71041. The price is preparing for further strengthening along the trend. After the correction a set-up is formed which may give the market an impulse to 1.7216 in the near future TA on the high timeframe: 1) The correction from 1.7222 ends with consolidation in the range of 1.710 - 1.690 2) After a false breakout, the price forms a retest of resistance 3) A pre-breakout consolidation is formed TA on the low timeframe: 1) A symmetrical triangle is formed on the chart with downward resistance and upward support. 2) Another retest is forming and trading volumes are increasing 3) The market is preparing for a breakout, it is important for us to wait for a break of 1.71000 and price consolidation above the level. Key support📉: 1.70540, 1.7000 Key resistance📈: 1.71040
Long
by AndeWave
9
GOLD → The Bears continue to dominate. Ahead of CRS, RSOANDA:XAUUSD continues to update the lows. The price bounces from the local liquidity area of 1903 and forms a correction, making another attempt to retest the trend resistance The upper boundary of the descending channel does not let the price yet, most likely targets below the most important. Reports released today are: 1) Core Retail Sales (no data, the previous ones were bearish) 2) Retail Sales (expected to strengthen) After retesting the support, it is likely that the price may head up to retest the trend resistance, there is a possibility that the price may break the line and start to form a flat (consolidation) before moving further to one side or the other. A global bearish trend dominates the market. I still expect a retest of 1900 as a priority (a false breakout is possible) Moving averages act as resistance Support levels: 1905, 1903, 1900 Resistance levels: 1908.3, 1912.7 In priority, I expect the price to fall from the channel resistance to 1900 with the subsequent rebound and the formation of a flat on the background of the bear market. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
23
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!
OLong
by RLinda
10
🥇GOLD - The price is getting ready to drop. False breakout Gold is testing trend resistance again, Price is forming a strong consolidation and there is a noticeable lull in the market, most likely before the storm TA on the high Timeframe: 1) Local support is forming at 1912, and consolidation near the level 2) There is still a potential for a decline to 1902. TA on the low timeframe: 1) Price is forming a bounce from trend resistance after a false breakdown 2) If the price can break the support of 1912, 1910 then it will head down to 1900. 3) The trend is bearish and I expect the price to decline in priority. Key resistance📈: 1915 Key support📉: 1912, 1910
OANDA:XAUUSDShort
by AndeWave
13
💱EURUSD - Retest of resistance zoneEURUSD is testing flat support. There is both the possibility of forming a false breakout, but in this case the previously broken trend resistance will be confirmed, and an attempted breakout, in which case the price will head down. TA on the high timeframe: 1) There is consolidation forming around 1.09526 and numerous retests. 2) Price is testing a strong support within the framework of correction 3) The price can both rebound and break the support. TA on the low timeframe: 1) Flat 1.1050 - 1.09526 is formed 2) In case of a false break of the flat support, the price may go to the upper boundary. 3) If the flat support is broken, the price will return to the downtrend boundaries, in this case the price will head towards 1.08000. Key support📉: 1.09289, 1.09526 Key resistance📈: 1.09997
by AndeWave
3
GOLD → The price may form a Flat. What does that mean? OANDA:XAUUSD is in a local bearish trend. Within the current trend, the price is testing resistance. Two scenarios are possible: either a breakout or a rebound. What to expect? The price tests the trend resistance and goes beyond it. If the price can consolidate above the level of 1914 after the channel breakout, the price may form a potential upside to 1924.8 But again, the price may form a false break of the trend resistance, in this case the price return to the channel boundaries will confirm the bearish potential, the price will head down to break 1912.7 and continue its fall to 1900. Break of resistance and growth to 1924 may form consolidation or flat 1924.8 - 1912. If the upper boundary of the future flat is retested, we can look for sell signals Support levels: 1912 Resistance levels: 1915, 1924.8 I expect one of the scenarios to develop, it is important for us to wait for confirmation. Most likely a flat formation may follow and in this case the price will initially head towards 1924.8. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
24
GBPAUD → The start of correction within the up-trend is possibleFX:GBPAUD continues to strengthen within the framework of the uptrend. The price updates the local maximum and continues to seek trend resistance The currency pair may make a correction against the resistance of the ascending channel. The price may reach the upper boundary of the ascending range and form a false breakout or other traps for players. Price consolidation or a reversal setup below the ascending line can be a signal to start a correction. If a correction is formed, the market will have the potential to decline to 1.95613 and even to 1.93924 Moving averages indicate a strong bullish trend. Support levels: 1.95613, 1.93924 Resistance levels: 1.96200, trend resistance I expect growth up to the upper boundary of the trend with the subsequent rebound and formation of correction to the support Regards R. Linda!
Short
by RLinda
11
XRP - Time to buy for a 500% profit! (now) XRP is currently retesting a major trendline from 2022, and this retest is exactly where you want to buy this coin! This trendline is also part of an ascending parallel channel on the daily chart, which strengthens the support. What's more, we have had a strong 0.618 FIB retracement on the LOG scale. We hit this level almost to the dollar, so if you bought at this level, congratulations! I share my trades transparently and post trade setups privately. We also need to take a look at the volume indicator. Clearly, since the downtrend finished in 2022, the bullish volume is overwhelming. That's definitely positive, and XRP could reach much higher levels in the next few weeks and months! Now the most important question is: what is the profit target, and where do I take it? To answer this question, we need to take a look at the market caps of XRP and BTC. The current market cap of XRP is $33,134,349,311 and that of BTC is $574,121,632,744. The market capitalization of BTC is 17x higher than XRP! This means that XRP could theoretically make a 1500% profit and still be number 2. But be optimistic and stay with a 500% profit because it's possible that XRP will go through a 1-year consolidation period before another huge pump. So you want to use your money on something else if it happens. From the Elliott Wave perspective, this is really a strong setup. We have a nest (1-2-1-2), which is a bullish base. Now we are waiting for the 3rd wave to finish. XRP won the SEC case recently, and that caused a 100% pump in a few days. New developments are good and positive, so I don't see any reason why XRP should go down. We will take a look at all profit targets from a technical perspective in the next update on this post tomorrow. Thanks for reading! I hope you learn something new, and let me know your thoughts in the comment section!
Long
by UnknownUnicorn2537518
115
🥇GOLD - Support retest gives a medium-term perspective Gold is testing one of the mentioned support lines and on Friday the price closes the session near the border. When the session opens on Monday, a quick fall to 1900 is possible TA on D1 1) The dollar index smoothly tends upwards after the consolidation above 102.09, which indicates that the price is ready to grow further, and in this perspective gold will continue its fall. 2) The chart below is forming a consolidation before breaking through the 1914 area, a third retest is being formed. TA on H4 1) A descending price channel is formed. The market is testing the support area of the channel for the third time already 2) The next retest may lead to a break of trend support, in this case the price may test 1900 or 1895. 3) Below this support is a strong area, buyers will not let 1900 be broken so quickly. 4) A bounce and correction is possible from 1900-1895 Key support📉: 1913.8, 1900, 1895 Key resistance📈: 1920, 1930
OANDA:XAUUSDShort
by AndeWave
13
GOLD → The market is ready to continue its declineOANDA:XAUUSD continues to form a descending price channel. On Thursday a candlestick pattern is formed indicating the imbalance of forces in favor of sellers. This week is published quite a lot of interesting news. It is worth paying attention to: 15.08 1) Core Retail Sales (no data, the previous ones were bearish) 2) Retail Sales (expected to strengthen) 16.08 1) CPI (expected to decline) 2) FOMC Meeting Minutes 17.08 1) Initial Jobless Claims (no data, previous ones were bearish) 2) Fed MI In general, bad indicators for the dollar may strengthen the interest in gold, but again, we should not forget that news is a complex trading instrument. From a technical analysis perspective, gold is approaching the strong 1902-1900 liquidity area. Last week's session is closing very close to local lows, which can be interpreted as the market's willingness to continue to gain momentum for further declines. A strong bearish trend dominates the market. Local support: 1912.5, if this line is broken, an impulse to 1900 is possible, but a rebound should be expected from the mentioned support, most likely a rebound may follow during the news. Support levels: 1912, 1902, 1900 Resistance levels: 1915, 1920, 1935 Gold continues to decline, and most likely, from the opening of the new week the price may continue to fall, but in the second half there may be a rebound and local contrend strengthening. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
29