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Harmonic Patterns

XAUUSDHello Traders! 👋 What are your thoughts on GOLD? Gold has recently broken its ascending trendline and is currently trading below the resistance zone. It is expected that after a pullback to the broken level, the price will resume its downward movement, targeting at least the specified support level. If the price confirms the pullback and reacts at the resistance level, short positions can be considered. The initial target for this decline is the identified support zone on the chart. Don’t forget to like and share your thoughts in the comments! ❤️
OANDA:XAUUSDShort
by HAMED_AZ
16
BTC.D important zones of support and resistance!!Join our community and start your crypto journey today for: In-depth market analysis Accurate trade setups Early access to trending altcoins Life-changing profit potential Let's analyse BTC dominance: BTC.D has recently broken below a significant 24-month support trend line, triggering a surge in the altcoin market. While a brief retest of this level is possible, BTC.D is currently trading within a rectangular pattern on the daily chart. The 200-day EMA on the 3-day chart is identified as a crucial support zone, where a minor pullback may occur. Conversely, the 100-day EMA on the 3-day chart is seen as a key resistance level, likely capping any further upside in BTC.D. Overall, the weakening Bitcoin dominance suggests a potential continuation of the altcoin rally. However, traders should monitor BTC.D's price action and key technical indicators for potential shifts in market sentiment. Key Levels: Support: 53.81% Resistance: 53.20% If you find this analysis helpful, please hit the like button to support my content! Share your thoughts in the comments and feel free to request any specific chart analysis you’d like to see.
CRYPTOCAP:BTC.D
by persis10t
XAUUSD: Double Top PatternHello everyone! Currently, after a false breakout at the key level of $2721, the price has quickly reverted to a bearish trend. This development bears significant resemblance to the double top pattern, a technical formation that often signals an impending downtrend. Given the current situation, the outlook leans in favor of the bears. If this scenario materializes, we can expect the price to continue moving towards lower support zones. To project potential downside targets, we are utilizing the Fibonacci extension tool, a powerful method for analyzing price momentum. Based on our calculations, two critical levels to watch are $2609 and $2557. These are areas where buying pressure may emerge, potentially testing the trend's continuation. Stay tuned for further updates to fine-tune your trading strategies!
OANDA:XAUUSDShort
by Trader-Briannnn
USDJPY Continues Consolidation Above Key Support!Dear Friends! USD/JPY is trading sideways around 154.00 during the Asian session on Tuesday. The pair was weighed down by Japanese comments and a softer risk-on tone. However, a fresh rally in the US Dollar limited the pair's losses ahead of the US November Retail Sales report. From a technical point of view, USDJPY remains in an uptrend with the trendline, EMAs and price channel still favoring buyers. In the short term, keep an eye on the upper limit of the channel, which could provide fresh upside momentum for USDJPY. Wishing you happy and profitable trading.
Long
by Trader-Briannnn
Possible Cypher bullish pattern for Dow?Hi Guys, The US 30 has been getting sold off from its most recent high and there has been minimal to no interest for any support thus far. Currently it is testing the 50DMA and close to daily support level., where we may see a small bounce up to lower time frame resistance levels. A break and close below the 50DMA and further a break below support opens the door for the Dow to head to the FVG below, and a test of the 100DMA and a very obvious demand zone where a bullish move looks inevitable. If price does move to that area then there will also be the entry point for a bullish cypher pattern with excellent fib ratios. All in all nice confluence at the cypher entry point if price can get there. Daily RSI is currently not yet in oversold but could end up being so if we move down to the cypher entry zone, which will add to confluence. Furtermore, if the Dow can rally from there back up to the high then there could again be strong selling pressure at the 2.0 retracement of the bear market high to low located at around 45300 level. ( Dow did not quite hit that level on this swing lower and RSI was not in overbought albeit showing clear divergence)) Two potential huge risk to reward trades if price reaches these levels. Safe Trading all
BLACKBULL:US30Long
by elyask120
"NZDUSD: Room for Further Decline?"NZDUSD: Approaching a Critical Support Zone Amid a Strong Bearish Outlook The NZDUSD pair is gravitating towards a significant support zone that it last tested over a year ago. This return to familiar territory comes under the shadow of a strengthening US dollar, which continues to exert downward pressure on the pair. The growing momentum behind the dollar and New Zealand's lackluster economic fundamentals are intensifying the likelihood of a major support level breakdown, potentially paving the way for deeper declines. Bearish Momentum in Full Swing The broader downtrend in NZDUSD remains firmly intact, driven by several key factors: Rising Dollar Strength: The US dollar has been bolstered by robust macroeconomic data, tighter monetary policy signals, and increased demand as a safe-haven asset in a volatile global environment. Weak New Zealand Fundamentals: New Zealand’s economic landscape offers little support for its currency, with lower growth forecasts and subdued sentiment adding to the downside pressure. Technical Weakness: The price action clearly reflects sellers' dominance, with the pair facing persistent resistance while struggling to hold onto key support levels. Testing Key Zones: Resistance vs. Support The pair is currently navigating a critical battle between resistance and support levels. A detailed breakdown is as follows: Resistance Levels: The 0.577 and 0.5817 levels are acting as formidable barriers for any bullish attempts. Each time the price approaches these zones, selling pressure intensifies, capping upward momentum. Support Levels: On the downside, 0.575 serves as an immediate level of interest, while the next significant floor lies at 0.562. This lower support remains untested in recent months and could act as the next price magnet should the pair breach the current descending channel. Descending Channel in Focus The NZDUSD is confined within a well-defined descending channel, which has dictated price movements for several sessions. Currently, the lower boundary of this channel is acting as temporary support, holding the pair above critical levels. However, the technical picture suggests that any decisive break below this channel could trigger a cascade of sell orders, as there is minimal structural support below until 0.562. Scenario Analysis: What Lies Ahead? Bearish Breakout: If the descending channel support fails and the price consolidates below this level, we may see a rapid acceleration of the downtrend. In this scenario, sellers would likely push the price toward the 0.562 mark, with minimal obstacles in their path. Temporary Correction: While bearish sentiment dominates, a temporary corrective bounce cannot be ruled out. Should buyers manage to defend the current support zone, the price could revisit the resistance levels at 0.577 and possibly 0.5817. However, such a move would likely be limited to short-term retracements rather than a trend reversal. Support Retest and Breakdown: The most probable outcome remains a retest of the support zone. Given the current macroeconomic backdrop and technical setup, any subsequent breakdown of this support could trigger fresh selling, opening the door for a deeper slide to 0.562. Conclusion: Downtrend Unlikely to Reverse Despite the possibility of minor corrections, the overall picture for NZDUSD remains overwhelmingly bearish. The combination of a strengthening US dollar, weak fundamentals for the New Zealand dollar, and a bearish technical setup creates a perfect storm for continued downside pressure. Traders should keep a close eye on the support zone near 0.575 and the descending channel boundary. A decisive break below these levels would confirm the next phase of the downtrend, targeting 0.562 in the near term. On the other hand, a sustained bounce above current levels might offer a brief reprieve, though it is unlikely to signal a reversal of the prevailing bearish trend.
Short
by lonelyPlayer0