Get started

Harmonic Patterns

XAUUSD 4HR In this chart, I am analyzing the XAU/USD market, and I expect a brief bearish correction before the market resumes a strong bullish trend. Let me break it down: 1. Retracement (Pause): I anticipate the market will retrace downwards to the Fibonacci 0.61 level, which is around $2,630.79. This is a key level where markets often find support. 2. Bearish Correction: Before reaching the Fibonacci retracement level, the market is expected to experience a slight decline (as indicated by the red arrow). This is a natural pause in the trend before further movement. 3. Bullish Continuation: Once the market reaches or approaches the 0.61 Fibonacci level, it is expected to gain support and continue its upward trend strongly (indicated by the green arrow). 4. Moving Averages (MAs): The chart shows two moving averages – the red one represents the short-term trend, while the yellow one indicates the longer-term trend. These can signal potential trend reversals when they cross. 5. Overall Outlook: Currently, the market appears to be in an uptrend. However, a small retracement may occur before the bullish momentum resumes, potentially surpassing the current highs. If you’re trading this market, it’s crucial to monitor the reaction near the $2,630.79 level to assess the support. Afterward, there’s a high likelihood of a strong bullish continuation.
FX:XAUUSD
by professionalgoldtrader
5
Ethereum (ETH): Rejection + Sellers DominanceEthereum had shown another rejection from our bounce zone (at this point we are not sure why we called it a bounce zone but we have been monitoring this since the beginning). So price showed a decent rejection and now we are looking for further pressure from sellers, as we are not yet near the zones we want to be. So we are waiting for price to slowly fall towards the $3000 where we might see another liquidity hunt or grab!! Swallow Team
Short
by SwallowAcademy
Crude OIL $UKOIL Classic patternI've seen this pattern many times over the last 5 years on different instruments, and its working out to over 50% The essence of this pattern is a classic triangle with horizontal support, most of the participants realize that we will break down, but not everyone believes that we will take liquidity off the top before going down. An instrument like oil is quite trivial and it can fall without taking liquidity off the top. But I want to share a few examples of my theory working out, where the upper resistance line is broken before the drop-down Best regards EXCAVO
FX:UKOIL
by EXCAVO
8
Bitcoin (BTC): Called Top, Waiting For Dominance From Sellers!Bitcoin has made a nice showcase of "buy the rumour, sell the news," where after a huge expansion we had a proper drop—let's call it as it was—a big liquidity hunt. Now that things are settling down, we are expecting to see a proper dominance from sellers near current zones of $100,000. Upon seeing the overtake of zone, we will be looking for a further movement to lower zones. Yes, the inauguration happened, but let's be real, most probably nothing will change within a few days or even weeks so liquidity sweeps are most common at those times! Swallow Team
Short
by SwallowAcademy