Harmonic Patterns
Bullish bounce?USD/JPY is falling towards the pivot which has been identified as a pullback support and could bounce to the 1st resistance level which acts as an overlap resistance.
Pivot: 150.91
1st Support: 149.02
1st Resistance: 152.91
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Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Get ready...Get ready. Don't buy into the fear mongering
with EHEX. HEX is looking awesome and coiling
up for another bounce to the upside. DAILY
RSI is showing BULLISH DIVERGENCE once again.
These are great levels to be buying in on your
future. Election in just 2 days...could se a bounce
after November 5th. Keep your finger crossed the
elections are swift and a clear winner is chosen.
Markets will falter if they stop counting once again
like they did last go round. I am hedging for a
ORANGE MAN bounce....you've been warned...
Stay strong...stay long...BAM!
********** HAVE A HAPPY HEXICAN DAY ************
Bearish reversal off pullback resistance?The Cable (GBP/USD) is rising towards the pivot which has been identified as a pullback resistance and could reverse to the 1st support level which is a pullback support.
Pivot: 1.3022
1st Support: 1.2909
1st Resistance: 1.3105
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Take A Guess What Happens Next....Almost every time Bitcoin breaks its HTF trendline, a solid move in the opposite direction occurs. Let's be cautious and use proper risk management to minimize losses and maximize gains.
Maybe the 7th trendline break will be different.....
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.
GOLD with two probabilities for 11/4/2024This is my idea Nbr 26 after 23 ✅️
GOLD with a high probability to make the decision for 11/4/2024 ✅️ :
🔸️If the price exceeds the green bar 🟩, with the bar closing in the hour above: there will be a high chance of entering a purchase as indicated in the chart, respecting the day, news and the stop loss.
🔸️If the price exceeds the red bar 🟥, with the bar closing in the hour below: there will be a high chance of entering a sale as indicated in the chart, respecting the day, news, and the stop loss.
USDCAD with two probabilities for 11/4/2024This is my idea Nbr 25 after 23 ✅️
USDCAD with a high probability to make the decision for 11/4/2024 ✅️ :
🔸️If the price exceeds the green bar 🟩, with the bar closing in the hour above: there will be a high chance of entering a purchase as indicated in the chart, respecting the day, news and the stop loss.
🔸️If the price exceeds the red bar 🟥, with the bar closing in the hour below: there will be a high chance of entering a sale as indicated in the chart, respecting the day, news, and the stop loss.
UsdjpyThe Japanese Yen depreciated following the release of Manufacturing PMI on Friday. The headline Jibun Bank Japan Manufacturing PMI registered at 49.2 in October, reflecting a decrease from 49.7 in September. US Nonfarm Payrolls are expected to increase by 113,000 jobs in October, a decline from the previous count of 254,000.
EUR/USDFull Analysis of the EUR/USD Pair
1. Ascending Price Channel on the Daily Time Frame
An ascending price channel is visible on the daily time frame, indicating a strong positive trend in the market. This pattern reflects upward momentum and enhances the likelihood of the trend continuing. 📈
2. Strong Demand Areas
Strong demand areas have been identified on the chart, representing potential buying zones. If the price bounces from these areas, we may witness significant buying pressure that supports the upward movement. 💪
3. Appearance of a Harmonic Pattern
The presence of a harmonic pattern suggests good opportunities for upward movement, reinforcing confidence in the bullish trend. 🌟
4. Overbought Conditions in RSI and MACD
The overbought conditions in the RSI and MACD indicate a potential reversal. If the RSI is close to the 30 level (oversold) and the MACD shows divergence, this may be a strong signal to look for buying opportunities. 📊
Summary
Based on the analysis mentioned, it is advisable to look for buying opportunities at the specified support levels. ✨ Be sure to set clear stop-loss points and manage risk carefully to protect your capital. 🚀💰
GBP/USDFull Analysis of the GBP/USD Pair
1. Ascending Trend Line on the Daily Time Frame
The ascending trend line on the daily time frame shows a clear positive trend. This line is a strong indicator of upward momentum, reinforcing confidence in the possibility of the trend continuing.
2. Strong Demand Areas
Strong demand areas have been identified on the chart, representing potential buying zones. If the price bounces from these areas, we may witness strong buying pressure that supports the upward movement.
3. Appearance of a Harmonic Pattern
The presence of a harmonic pattern supports the upward movement and indicates good buyin opportunities.
4. Overbought Conditions in RSI and MACD
The overbought conditions in the RSI and MACD suggest a potential reversal. If the RSI is near the 30 level (oversold) and the MACD shows divergence, this may be a signal to look for buying opportunities.
Summary
Based on the analysis mentioned, it is recommended to look for buying opportunities at the specified support levels. 📈✨ It is always important to set clear stop-loss points and manage risk carefully to ensure capital protection. 🚀💰
USD/CHFFull Analysis of the USD/CHF Pair
1. Descending Trend Line on Daily Time Frame
The descending trend line on the daily time frame shows a clear downward trend. This line is effective in identifying the prevailing direction and potential resistance areas.
2. Strong Supply Areas
Strong supply areas have been identified on the chart, representing potential selling zones. These areas can act as sources of selling pressure, reinforcing the downward trend.
3. Appearance of a Harmonic Pattern
The presence of a harmonic pattern indicates a significant likelihood of a downward movement.
4. Overbought Conditions in RSI and MACD
Overbought conditions in the RSI and MACD suggest a potential reversal. If the RSI is near the 70 level and the MACD shows divergence, these are strong signals to look for selling opportunities.
Summary
Based on these analytical elements, one should look for selling opportunities at the specified resistance levels. It is also important to establish appropriate stop-loss points and manage risk carefully to ensure capital protection.
Loud and Clear! Bullish Megaphone on APT 4hThis is a classic bullish Megaphone pattern on APT. Kinda feels like buying the top but all of the hallmarks are there, most notably the 5 waves, bullish entry, rising volume. I'm placing low margin longs and hoping to see a breakout to the upside when BTC breaks out of a bullish descending wedge pattern it is in on the 4h chart.
I'm still overall bearish on crypto for the longer term well into next year, but these patterns this morning are to clear not to enter swing trades.