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Harmonic Patterns

EURUSD / TRADING UNDER UPWARD PRESSURE / 4HEURUSD / 4H TIME FRAME HELLO TRADERS Current Movement to Supply Zone (1.092 - 1.095): • Prices are attempting to reach a supply zone between 1.092 and 1.095. This level acts as potential resistance where sellers may enter, potentially halting further upward movement. Potential Decline to Demand Zone (1.085 - 1.083): • If prices face resistance near 1.092 - 1.095, they might pull back to the demand zone between 1.085 and 1.083. This demand zone represents a level of support where buyers might enter, stabilizing prices. Outlook if Prices Stabilize Above 1.085 - 1.083: • Stabilization above this demand zone suggests an opportunity for prices to increase. The next target is another supply zone between 1.101 and 1.104, which could act as a new resistance level. Risk of a Decline if Demand Zone is Broken: • If prices break below the demand zone (1.085 - 1.083), it signals potential for further decline to a lower demand zone (1.079 - 1.076). A break below 1.076 would likely confirm a downtrend. Trend Confirmation Based on Zone Breaks: • Breaking the supply zone (1.092 - 1.095) would signal an uptrend, while a break below the demand zone (1.079 - 1.076) would confirm a downtrend.
Long
by ArinaKarayi
Southwest Airlines Co.Key arguments in support of the idea. • Changing the structure of the offer. • The shares are poised to align with their industry peers. Investment Thesis Southwest Airlines Co. (LUV) stands as a prominent leader among passenger airlines in the United States. LUV manages an extensive fleet, comprising 811 Boeing 737 aircraft. Changing the structure of the offer. Beginning in 2025, the company will start selling assigned seats priced at a minimum of 15% above the base fare. This strategic move is expected to be the primary catalyst for its share growth. By the end of 2025 or early 2026, at least 30% of cabins will be equipped with these new premium seats. Even with a marginal increase in the base fare, the airline's margin is projected to improve significantly. Despite these promising prospects, the market seems determined to overlook the future benefits that Southwest Airlines can achieve with relatively minimal effort. The shares are poised to align with their industry peers. In the past, following selloffs triggered by the carry trade effect, competitors' stocks experienced significant growth, whereas LUV demonstrated weaker performance due to ongoing proceedings with the activist fund. However, the current technical indicators appear quite favorable, and the sell-off that transpired on the day of the report release has already been recovered. We anticipate that the upward trend will persist through the end of the year. Furthermore, historical data suggests that November and December typically yield positive outcomes for this stock. For the next two months, the price target for LUV is set at $36.50, with a recommended stop-loss at $27.90.
NYSE:LUVLong
by FreedomHolding
Falling wedge Breakout in CRUDE?Crudeoil Update (4-Hour Timeframe) Pattern Formation: Falling Wedge, typically suggesting a potential breakout to the upside. Current Setup: Crudeoil has taken support at the 5900 level and is now trending upward within the wedge. Entry Above: 6025 Target 1: 6100 Target 2: 6220 Target 3: 6380 Stop-Loss: 5970 Analysis: Price has shown resilience at support, and a breakout could be triggered above 6025. Watching closely for an upward move. Risk Management: Ensure proper stop-loss placement to guard against reversals. Disclaimer: This is a technical analysis based on current data, not financial advice. Always trade with caution.
MCX:CRUDEOIL1!Long
by Shalvisharma5
2
USD/CAD Analysis: Potential Reversal at Key ResistanceUSD/CAD has been in a long-term uptrend, recently approaching a critical resistance zone. Price action suggests a potential shift from bullish to bearish due to the formation of a harmonic pattern that implies a possible corrective move. However, given the strength of the current uptrend, any pullback could be temporary, presenting future buying opportunities around key support levels. Technical Indicators TDI Divergence: Multiple bearish divergences on the TDI indicator highlight potential weakening in upward momentum, reinforcing the possibility of a short-term correction. Moving Averages: The MAs are positively sloped, supporting the medium- to long-term uptrend, but price has moved significantly away from them, suggesting a higher probability of a near-term pullback. Trade Strategy: Sell at Resistance Entry: 1.391 zone Stop Loss (SL): 1.4000 Take Profit (TP): 1.36970 Risk-Reward Ratio: 1:2.5 Rationale: The proximity to key resistance, combined with bearish divergences, supports a potential corrective move. USD/CAD displays mixed signals of continuation and correction. Short-term indicators suggest a weakening, but the long-term uptrend remains intact. The most robust strategy here is a sell at resistance, backed by harmonic patterns and divergence signals. After a potential pullback, buying on corrections could be advantageous if the price resumes its uptrend. Monitoring technical developments and price action on lower timeframes is essential for timing entries. Disclaimer: The information provided does not constitute investment advice.
Short
by MrVNpt
H-1 SCENARIO [TRUE SMC STRUCTURE MAPPING] gold is showing key levels that may signal its next move. Currently, minor resistance is observed around $2,775, aligned with a downward trendline that could trigger selling pressure if prices approach this level. A failure to break above this could lead to a pullback, potentially driving prices down to the support level around $2,732. Should gold breach the $2,575 level, it may see additional bullish momentum toward recent highs. The primary support range to monitor on this timeframe is around $2,622, with a critical psychological support near $2,600 if further declines occur. A strong move above resistance, particularly with positive catalysts such as dovish Fed expectations, could pave the way for further gains​
OANDA:XAUUSDLong
by BELLATRIXFX
EURUSD at Key Support – Bullish Rebound Ahead?Hello Ben's great friends! Currently, EURUSD is fluctuating about 1,0878 in the early morning session in Asia. The US dollar decreased slightly when traders prepare for the US presidential election and the possibility that the Federal Reserve cut interest rates, supporting some support for the main currency pair. Moreover, based on technical analysis, the price is approaching the strong support area (suitable for EMA 34.89). If this support level is maintained, it can act as a platform to increase prices. What do you think about this view? Let me know your ideas.
Long
by Bentradegold
3
XAUUSD 4H Key Considerations for the 2024 U.S. Election High-Level Observations and Zones Dealing Range (12M-3M) and PMH: This range, marked at the top, represents a high timeframe dealing range and a recent swing high (PMH). The upper boundary, around 2,790, coincides with the inducement wave, suggesting that a strong resistance or potential reversal point could be located near this level if the price reaches it. Inducement and Buy Side BSL: Similar to the previous chart, this inducement level suggests a point where liquidity can be captured, potentially triggering a short-term reversal as retail traders get trapped. The Buy Side BSL (Buy Stop Liquidity) above this range marks where buy-side liquidity rests, which could fuel further upside if price breaks through convincingly. Low Resistance Liquidity Run (LRLR): This zone, around 2,745.95, indicates a low-resistance liquidity area where price may move smoothly, suggesting that any breach here could lead to a rapid price movement until encountering the next major liquidity pool. Psychological Level (PSY): This area likely serves as a psychological threshold where traders' sentiment may shift, offering potential support or resistance. Here, it’s positioned near the lower boundary of the recent range. Point of Control (POC) and Volume Profile Analysis: The POC at 2,731.95 represents the price level with the most traded volume in this range, acting as a significant support or resistance. The volume profile shows a high concentration of trading activity around this level, suggesting it’s a key point for institutional interest. Market Structure and Wave Counts Corrective Structure (Elliott Wave): The chart illustrates an ongoing corrective structure with multiple subwaves labeled (w), (x), (y), etc., suggesting a potential W-X-Y correction. The recent downward movement aligns with this corrective wave, pointing to an extended consolidation phase within a larger bullish setup. Projection of the Motive Phase: After the corrective wave completes, the projected structure on the right shows a potential 5-wave upward sequence (i, ii, iii, iv, v). This projected path, indicated by the labeled wave counts, implies that once the corrective wave completes, a motive phase might drive the price upwards to new highs within the current dealing range. Motive Phase Label: The lower right part of the chart points to a "Motive Phase" which suggests that if the corrective structure plays out and holds above the invalidation point, a bullish impulse might start. This phase typically indicates stronger, trend-aligned moves as opposed to corrective, choppy price action. Key Levels and Fibonacci Zones Discount and Premium Zones: The equilibrium (0.5 Fib) is marked at 2,733.89, a midpoint for potential reversion within this corrective structure. The chart labels a “Discount” zone above this equilibrium level, suggesting a favorable buying opportunity for bulls as long as price remains above key support. 0.382 Fibonacci Level (2,731.95): This level acts as a significant retracement target within the corrective wave structure. Positioned close to the POC, it reinforces this level as a critical area for potential buy-side interest if price revisits it. Premium and Invalidation Levels: The premium area is below the 0 level (2,724.70), which aligns with the invalidation point. A drop below this point would negate the bullish setup and signal potential downside continuation, making it a key reference for managing risk. Strategic Levels for Trading Decisions Bullish Entry Zone: The POC and 0.382 level serve as attractive points for entering long positions, with tight risk management below the invalidation level. These levels, backed by volume and Fibonacci retracement, provide a favorable risk-reward setup. Upside Targets: The primary target for bullish continuation is the Buy Side BSL and Dealing Range high at 2,790.08. If this level is broken, further upside toward the psychological level around 2,803.68 (near the top of the chart) could be expected. Potential Triggers for Reversals: If price hits the inducement level near 2,790 and shows signs of rejection, a short-term reversal could occur. This would provide an opportunity for traders to either exit long positions or potentially enter shorts with stops above recent highs. Additional Notes Volume and Market Sentiment: The volume bars show higher activity at key reversal points, especially during wave transitions, highlighting areas of potential institutional interest. Structural Patterns: The corrective nature of the current price action, combined with the projection for a motive phase, indicates that the market is consolidating within a bullish trend, awaiting a breakout. In summary, this chart outlines a bullish structure with corrective waves currently in play. Traders may look for long entries around the POC (2,731.95) or upon the breakout of key liquidity zones (2,790.08), targeting the dealing range highs. However, the invalidation level at 2,724.70 must hold to maintain this bullish outlook.
FX:XAUUSDLong
by spacedevil
2
Trade Plan (Pending): Buying Gold at $2,727 Mixed price action has resulted in an Ending Wedge pattern being posted on the intraday chart. On a break of this morning time of $2,741 the measured move target is $2,762. We will complete a Crab formation at $2,784. We are currently assessed as moving lower within the BC leg of this cypher formation. Support is located at $2,727. A break of the trend of lower lows, currently located at $2,724, and the bias is negated. SL: $2,718 TP1: $2,784 R Rate 6.1 #tradeplan #gold
CAPITALCOM:GOLDLong
by IanColeman
Gold Prices Rise: Investor Hopes After U.S. Election?Hello everyone, Currently, the global gold price is experiencing a slight increase, standing at around 2,736 USD per ounce. In the last week of October and early November, gold prices have seen significant fluctuations due to economic and political factors. Gold prices have rebounded as investors are actively buying. In my opinion, investors are optimistic that the precious metal's price will rise significantly following the U.S. presidential election, taking place on November 5th. Additionally, the precious metal seems to be supported by the ongoing conflict in the Middle East and the expectation that the Federal Reserve (Fed) will further cut interest rates at the upcoming policy meeting on November 7th. The short-term outlook suggests that gold may continue to rise, bolstered by economic and political uncertainties, along with the potential for the Fed to further ease monetary policies.
OANDA:XAUUSD
by Ademha