XAUUSD Bearish Reversal: Double Top and Golden Pocket Breakdown!OANDA:XAUUSD - 2Hr
The analysis suggests the market is showing bearish signals, particularly after price rejected at key resistance zones during the Asian session. The Ascending Channel indicates an upward trend, but the breakdown from the channel signals that bullish momentum is weakening.
Key Elements Driving the Short Trade:
1. Golden Pocket (0.5–0.618 Fib):
The price has reached the Golden Pocket (between 0.5 and 0.618 Fibonacci levels), a strong reversal zone. Rejections in this zone often signal a potential change in trend, especially when combined with other bearish signals.
2. MML Major Resistance:
The MML Major Resistance suggests that the market is encountering a significant obstacle, further validating the potential for a reversal.
3. Strong Resistance:
The price is facing Strong Resistance at higher levels, which is causing the price to struggle and reject, confirming the reversal bias.
4. Double Top:
The Double Top pattern at the Golden Pocket indicates that the price has attempted to break higher twice but failed, signaling weakness and a likely bearish shift. This pattern often leads to a trend reversal.
5. Price Gap:
A Price Gap further confirms a shift in market sentiment, with a possible imbalance or sudden price movement that reinforces the bearish view.
Current Price Action:
During the Asian session, price broke down from the Ascending Channel, signaling a shift from an uptrend to a potential downtrend. The breakdown occurred near Equilibrium and the 50% Fib retracement, reinforcing the idea of a reversal as this is where price typically finds resistance in a trend. The Double Top at the Golden Pocket suggests a strong potential for a downward move as the price has failed to continue higher. Currently, the price is above a Strong Pivot Point, which is acting as support, potentially leading to a short-term pullback or consolidation before the bearish move continues.
Interpretation:
The combination of the Golden Pocket, Double Top, and rejection at key resistance levels gives a strong bearish signal. The ideal entry point would be after confirmation of price breaking below the Strong Pivot Point or failing to sustain above it, with a target near the next support or at Price Gap, as mentioned Price target. Place the stop loss just above the Double Top or near the Strong Resistance zone to limit risk in case the market reverses back up.
In conclusion, the market is showing signs of a bearish reversal after rejection at multiple key levels, and the analysis points toward potential short opportunities with proper risk management.
"Stick to Your Plan and Manage Risk, Happy Trading!"
Goldenpocket
VRA, Verasity, 0.618 Fib retrace sets up a 100x algo targetMy favorite trade, to avoid being repetitive & to save time I'll just give the trade and spare you the write up. See linked BTC chart for more details.
Beautiful double bottom into the golden pocket... excellent R:R
The Trade?
Preferred Entry: $0.025
Ape Entry: $0.0275
Stop: $0.019
Target: $1.41
D.Y.O.R. DO NOT BLINDLY TAKE THESE TRADES.
Never Trust. Verify. PLEASE DO YOUR OWN ANALYSIS.
This is not financial advice. These are just my observations.
Technical Analysis is not about being right, it's about increasing your odds.
Be prepared to be wrong. Risk management is key. Capital preservation above all else.
DAG, Constellation, Golden pocket sets up a 50x algo targetMy favorite trade, since it's set up across many alts, to avoid being repetitive & save time I'll just give the trade and spare you the write up. See linked BTC for more.
The Trade?
Preferred Entry: $0.025
Ape Entry: $0.0275
Stop: $0.019
Target: $1.41
D.Y.O.R. DO NOT BLINDLY TAKE THESE TRADES.
Never Trust. Verify. PLEASE DO YOUR OWN ANALYSIS.
This is not financial advice. These are just my observations.
Technical Analysis is not about being right, it's about increasing your odds.
Be prepared to be wrong. Risk management is key. Capital preservation above all else.
4015: Correction (Watchout for reversal_Golden Pocket??)4015
Continuously forming HH and HL
Bullish Flag Pole and C&H target complete
Bearish Divergences are appearing on Daily and Weekly time frames.
Candlesticks on weekly are clearly showing dominance of bears
A correction is expected.
Price currently at Golden Pocket, Watchout for reversal
Massive Bull Flag on the Daily & Weekly, The breakout of this Bull Flag is going to bring BTC once again to heights we have yet to see. When we use a Trend Base Fib Ext, we can see the next Golden Pocket sitting up at $85.600. This is a continuation of the monster Cup & Handle we broke out from earlier this year.
7204: Breakout and Retest7204 was in correction for a while within descending parallel channel.
Breakout followed by retest is observed on parallel channel.
Price has started showing HH, HL formations after
taking support from horizontal line
which is also golden pocket fib level.
A Bullish divergence is also formed.
Take entry now (with aggressive or conservative SL) and ride the trend.
Do proper risk management based on your portfolio and appetite.
ATHUSDT - Golden Pocket to the Moon +100% Gains in Sight!Should we panic or buy the fear? We've had a deep retracement on alts across the board. Let's break it down and figure out our strategy for this long opportunity.
LONG TRADE - CONFLUENCE
Golden Pocket: The price has perfectly retraced to the golden pocket between the 0.618 and 0.666 Fibonacci levels.
Point of Control (POC): This area also coincides with the POC, adding to its significance as a support level.
Fibonacci Speed Fan: The 0.786 level of the Fibonacci speed fan aligns with our golden pocket and POC, reinforcing this area as a strong support zone.
Long Trade Setup: High-Probability Trade
Entry Point:
Golden Pocket: Enter a long trade from the golden pocket area around $0.07.
Stop-Loss Placement:
Below POC: Place the SL just below the golden pocket/POC (tight SL) or place the SL below the swing low at around 0.064.
Target Levels:
First Take Profit (TP1): Set the first TP at $0.10.
Overall Target (TP2): Aim for the overall target at $0.147.
ATH's retracement to the golden pocket offers a prime opportunity for a long trade with an excellent R:R. The confluence of the golden pocket, POC and Fibonacci speed fan makes this a strong support zone and an ideal entry point.
What are your thoughts on this analysis? Are you ready to go long on ATH?
THETA - Set for a +50% Rocket Ride?We’ve had an interesting move with a retracement to the Fibonacci 0.618 level and it looks like a head and shoulders pattern is forming.
Fibonacci Retracement: The price has retraced from the entire wave down to the 0.618 Fibonacci level.
Head and Shoulders Pattern: A head and shoulders pattern seems to be forming, which could lead to a significant price movement if it plays out.
Long Trade Setup:
Entry Points:
Immediate Entry: Consider entering a long position now at the current price level.
Confirmed Entry: Alternatively, wait for a break above the right shoulder and confirm with volume before entering a long trade.
Potential Gain:
Target: If the head and shoulders pattern plays out, we could see a +50% move towards the 0.618 Fibonacci level again.
Volume Monitoring:
Confirmation: Watch the volume closely to confirm a real breakout before making the trade.
Ready to catch the Theta wave? Let’s see if we can ride this setup to some serious gains!
NOTUSDT - Short trade setupNOT surged to an important swing high, where we faced strong resistance. The Fibonacci speed fan perfectly acted as resistance at the swing high, showcasing a textbook low-risk trade setup for an excellent R
short trade.
Given the resistance at the swing high, it looks like we're entering a range-bound phase, building up a trading range. Expect some sideways movement as the market consolidates and prepares for the next move. Using the Fibonacci retracement tool, we identify the Fib 0.382 level as our primary short trade target. This level is crucial as it often attracts liquidity.
If you missed the initial short entry at the highs, there are still great opportunities. Consider shorting at the Point of Control (POC) or at the Fib 0.618 level of the smaller wave. The Fib 0.382 level is also an area where liquidity lies, making it perfect for taking out some long positions built up at the swing high, with a target of the Fib 0.382 level as your take profit (TP) target.
What are your thoughts on this analysis? Did you catch the initial short trade or are you eyeing the secondary entries? Share your insights and strategies below!
PolkaDot. In The Golden Pocket.Market Cap 6.9 Billion
Up a cool 2,600% before a RSI Bearish Divergence + the "Incredible Sell" , price retraced to the 0.5 fib level, before rallying again to its high of $55.
Price has since corrected 88% and finds itself in the Golden Pocket.
We also have our first "Incredible Buy" Signal + Stochastic Oversold.
Does that mean the bottom is in? Don't know, I don't try timing the tops or bottoms.
Long Term bulls should DCA (Dollar Cost Average) with re-entry at $4, which is the 0.786 fib level , some big Volume Profile can be found there.
Can price drop further? Most definitely!
Speculative Setup, DYOR. Allow 3-18 Months For all Crypto Ideas.
Credit to @without_worries for allowing use of indicators.
2281: Potential Bullish Setup (Golden Pocket)Tanmiah earlier broke ATH and took correction
Price is moving in descending channel, however,
price has reached a significant support level
golden pocket (fib level) confluence
breakout will be bullish flag formation
Morning star formation at support level is positive for bullish trend after correction
Entry at current price or after breakout of channel (confirmation of HH and HL)
SL below Morning previous HL
Ride the trend with trailing SL
RFOX Bullish OutlookUNISWAP:RFOXWETH_421429.USD is my main pick for spatial computing narrative. RFOX is a lowcap crypto token with 17M market cap. RFOX max supply is 2B with 65% of it is in circulation according to CMC. Their mission is to empower everyone to play, create and earn in a metaverse without borders. They aim to be the global leader in immersive technology focused on retail, entertainment, rewards and community experiences.
Now from technical analysis perspective. There is a Three Hills & a mountain pattern in the daily chart, a bullish pattern. AB=CD in the chart means the range between A to B is the same for C to D. RFOX is currently in the golden pocket, perfect opportunity to buy.
The first target is $0.02341. I personally think it will go higher and i am playing for long term too.
SUI SUPPORT BROKEN BEARISH BEARISH BEARISH !?!Rising wedge has failed it's support.
Correction to the downside seems like the most probably outcome.
I EXPECT LOWER PRICES IN THE SHORT-TERM! LONG-TERM STILL BULLISH!
Calculate Your Risk/Reward so you don't lose more than 1% of your account per trade.
Every day the charts provide new information. You have to adjust or get REKT.
Love it or hate it, hit that thumbs up and share your thoughts below!
This is not financial advice. This is for educational purposes only.
DOGE Looks BULLISH after breakout and support retest!After dogecoin broke out of it's major trendline. It has now found support above a daily level, and golden pocket. It has also retested the trendline for a 3rd confluence.
These are great signs to support a bullish continuation to the upside.
Calculate Your Risk/Reward so you don't lose more than 1% of your account per trade.
Every day the charts provide new information. You have to adjust or get REKT.
Love it or hate it, hit that thumbs up and share your thoughts below!
This is not financial advice. This is for educational purposes only.
VAL - Sora Validator TokenThis chart is a creative venture. I did something a little different. I pulled a volume profile for the entire uniswap history of VAL token. I then pulled a FIB range on that revealed VAH and VAL area (value area high, low).
It is creative in the sense that I want to see if the total buying and selling data from the volume profile will be respected in the future with external market conditions. It all plays together but so do the minor details.
So it's a bit predictive in nature but no guarantees, and no fortune telling.
I will make other charts on VAL but for now I will start here.
SPY when stars align!as i was helping someone better understand some of these terms, like golden pocket...
actually ill skip it. okay the SPY, everyone's favorite!... (to play 0dtes on) jk, i do it too sometimes.
This is a great example of a "high probability set up" . when you have multiple indicators pointing to the same thing.
we have not 1 not 2 not 3 but 4! indicators all lining up to a single area (when stars align, ahh) and it just so happens to be the area we were aiming for before we started charting. ADD CONVICTION
1. Previous S/R level & high volume area
2. Golden Pocket
3. Unfilled Gap
4. 50 Day Moving average
all lining up to the same key zone, that 402.50 area. im not saying we get there tomorrow or the next day, we could never see it again nothings for sure. but if we do this is a critical level of support. because if it holds, that's still a higher low on the daily and weekly time frame. what am i watching for this week? that 406.15 call it 406 to 407.50 area im watching to see if that holds support, or if we break through it and go down to test that 404.50 area. and if thats broken then im targeting 401.50 to 402.50/403.
Upside targets - almost every dollar is resistance and major major resistance around 417-422. 412 to 413.75 if we can get above that we could see alittle higher in the short term, im leaning slightly bearish to neutral. i want to see how the rest of the bank earnings affect the market this week. okay im tired and had to type this 3 separate times as this started with me showing a friend what the golden pocket was and how to use a basic fib. happy trading this week. cheers
ETHUSD AT GOLDEN RATIOBe aware, ETHUSD is currently at the golden ratio
We are not blind
How Do I Use the Golden Pocket for Trading?
As stated, the golden pocket follows a price reversal. Using the golden pocket increases the likelihood of a good entry point. To use the golden pocket for an asset, information on previous price moves from the charts is the most essential tool.
ALGO SETTING UP TO PUMP?!?!Algo looks bullish. Looking at the chart we can see a few ways how the algo price action might play out. If this breaks out to he upside, I mapped out where I think price will go and where to exit or take profit. (Golden Pocket (Orange Line))
Calculate Your Risk/Reward so you don't lose more than 1% of your account per trade.
Every day the charts provide new information. You have to adjust or get REKT.
Love it or hate it, hit that thumbs up and share your thoughts below!
This is not financial advice. This is for educational purposes only.
AAPL Targets Lower, Be SmartWe are at an interesting zone when it comes to AAPL. It's holding strong above the most relevant pivot low as you'll see in the chart. There is a chance that it can go up fro here so if you would like to long, I would place a stoploss elow the recent wick low. I would also manage my position size so the its a 1% risk on the trade it your stop was to hit.
In the end, when zooming out, I think AAPL will retrace back to the bottom of the channel before pumping higher. There are a few key levels on the way dwn where we can expect a reaction and other trade set ups to play out.
I'm currently long, anticipating a small bounce at these levels, with a 1% stop under the current wick low. Lets see how it all plays out.
Calculate Your Risk/Reward so you don't lose more than 1% of your account per trade.
Every day the charts provide new information. You have to adjust or get REKT.
Love it or hate it, hit that thumbs up and share your thoughts below!
This is not financial advice. This is for educational purposes only.