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Harmonic Patterns

Gold Dips After Rally: Is This the Perfect Buy Opportunity?Hello wonderful friends! Today, gold prices are showing signs of correction after a period of strong growth, currently hovering around the support level of 2750 USD. Profit-taking pressure after the recent surge has dragged gold prices lower, but the precious metal has maintained its growth momentum for the fourth consecutive month thanks to safe-haven demand. In Ben's view, gold may enter a consolidation phase, fluctuating between 2750 - 2716 USD before entering a tense period with the US election and the important Fed meeting. Moreover, geopolitical factors and uncertainty ahead of the election results will continue to support gold, while investors seem to be taking advantage of the opportunity to "buy on correction".
OANDA:XAUUSD
by Bentradegold
Bitcoin (BTC): New All Time High(ATH) - Possible Liquidity Hunt?Bitcoin was at around $75,5K, which marks right now as a new ATH zone!! Elections are over and the pro-crypto president has won (Trump), which is why we had this optimistic push as well, but will it last from here or what now? Well, we are expecting this to be a "Buy the Rumour, Sell the News" scenario where optimism has ended as of now and now comes the real market moves. We are expecting to see price fall from here (similar when ETF was released), which would normalise at least the RSI and bring back the coin for a couple of re-tests to lower zones. Liquidity hunting is also one thing we all have to keep an eye on (as in lower zones there is plenty of liquidity to take out). Volatile times are perfect for liquidity hunters, so keep your eyes wide open!! Swallow Team
Short
by SwallowPremium
6
UNI | UNISWAP Are we in DeFi Summer? The price of Uniswap is $6.4 today with a 24hour trading volume of 158 million dollar. This represents a 5% price increase in the last 24 hours and a 28% price increase in the past 30 days but what is UNI and what is UNI SWAP? UNI is the governance token for Uniswap. UNI was introduced on 16th September 2020 through a retrospective airdrop to users who have interacted with the protocol either by swapping tokens or by providing liquidity.the UNI token allows token holders to participate in the governance of the protocol. Key decisions such as usage of the treasury or future upgrades can be decided through a governance vote. Uniswap is a decentralized exchange that makes it easy for users to swap an ERC20 token for another ERC20 token without the need of a centralized intermediary. With a DEX, traders do not have to deposit their tokens on an exchange and be exposed to the security risks of a centralized exchange. UNI's relative strength index of 63 shows bullish momentum is gathering steam but not yet overheated. The moving averages are aligned for more gains as well, with UNI trading above its 10day, 50day and 200day simple moving averages. Overall, the technical posture looks strong next targets are 6.5, 6.7 and "6.9" $ whats your top defi token?
Long
by moonypto
2
Gold Price Is About To Hit Lao Doc? Opportunity To Take Profit!Today, gold is showing signs of a potential bearish move on the technical front, highlighted by a significant crossover between the 34 EMA and the 89 EMA on the hourly chart. This crossover point, in theory, often indicates a potential trend reversal, suggesting a shift from recent bullish momentum to a potential bearish trajectory. Technical Analysis Overview: As illustrated on the provided chart, gold is currently trading around $2,736, with key support levels identified below. Targets for a bearish move are charted at approximately: Target 1: Near $2,720, which aligns with recent support zones. Target 2: Around $2,710, which provides deeper support if price falls below the first target. Key Factors: USD Strength: The recent strengthening of the US dollar has put downward pressure on gold prices, as investors typically view the dollar and gold as having an inverse relationship. Any further strengthening of the dollar could reinforce the bearish move for gold. Interest Rate Expectations: Market participants are closely watching for any indications from the Federal Reserve regarding future interest rate hikes. Higher interest rates typically weigh on non-yielding assets like gold, making them less attractive to investors. Geopolitical Tensions: While geopolitical factors have supported gold prices in recent weeks, any easing of tensions could lead to reduced safe-haven demand for the metal. Trends and Strategy: With the recent EMA crossover signaling a potential trend reversal, traders may consider a short position with conservative targets, initially focusing on the $2,730 level. If the price breaks below this level, the next support level at $2,720 could act as a secondary target.
OANDA:XAUUSDShort
by AmbaniFX