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Harmonic Patterns

Gold projection for a serious correction!Precious metals have been on a serious run, but it's time for a cool off heading into winter. I called this massive run over 2 and a half years ago on silver (linked to the post). But, I do believe that we're close to the correction phase and the major one will coincide with the stock market which will infect the precious metals. Target is conservative as a retest of the CUP & HANDLE break out, but it's likely to go lower to catch the buyers off guard as we often see. Let me know what you think and how you're approaching the precious metals.
TVC:GOLDShort
by SkyTrees
Will Solana Break or Bounce?The price of SOL (Solana) has dropped from around $183.38 to around $173 today, showing a downward trend in the H1 timeframe. However, it's important to note that SOL has not broken below the critical support zone of $173.51 to $172.66. Instead, it's been moving sideways on this zone. We'll be keeping an eye on this situation. If SOL breaks below the $173.51-$172.66 support zone, that could signal a further decline in price. On the other hand, if the price bounces back from this zone, it could indicate a potential continuation of the upward trend.
by TheCryptoCity
Data is approaching: Plan short-selling strategies in advanceMarket Analysis: With the upcoming release of the “U.S. Initial Jobless Claims for the week ending October 26” and the “U.S. Core PCE Price Index Year-on-Year for September,” we anticipate significant market volatility in gold. My personal forecast leans towards a bearish impact on gold prices, especially given the positive indicators from various economic data released in October. Thus, the likelihood of tonight’s data being bearish for gold is high. We can proactively establish a short position ahead of the data release. Pre-Data Release Gold Trading Strategy: Entry Range: Short gold between 2780-2782 Take-Profit Target: 2772 Stop-Loss: 2790 Risk Management and Operational Advice: Post-data release, if profits are realized, it’s advisable to take immediate profits, as the market may reverse following the data announcement. I will also provide subsequent trading strategies after the data is released, so please stay tuned for updates to adapt your trading approach.
OANDA:XAUUSDShort
by Falcon-Training-Camp
1
EUR/GBPIn financial markets, "AB=CD" is a harmonic pattern that traders use to predict potential reversals or continuations in price movements. It's named after its basic structure: the price forms two legs (AB and CD) that are equal in time and price magnitude. A "bullish AB=CD" pattern suggests that the price is likely to rise. Traders look for specific Fibonacci ratios between the lengths of AB and CD, typically 0.618 or 1.618, to confirm the pattern. When these ratios align, it's seen as a signal that the price may continue to rise after completing the CD leg. However, like any technical analysis tool, it's not foolproof, and traders often use it in conjunction with other indicators and analysis methods to make informed decisions.
Long
by B9A-88652-NisarAhmad
SOL AI - TodayInvestment Thesis As a trader specializing in intraday scalping strategies for Solana (SOL), the current market conditions suggest a cautious yet optimistic approach. The price of SOLUSDT is currently at $174.9300, with significant trading volume indicating strong interest. The bullish sentiment among traders, particularly in the short-term intervals, supports the idea of holding long positions. However, it is essential to monitor key resistance levels and potential market corrections closely. Data Analysis Market Participation Data Open Interest: Recently increasing, suggesting that traders are anticipating further price movements. Weighted Funding Rate: Remains positive, indicating that long positions are favored. Liquidation Levels: Being monitored closely, as significant liquidations could trigger volatility. Analysis: The rising open interest and positive funding rate support the bullish sentiment in the market. However, vigilant monitoring of liquidation levels is essential to mitigate risks associated with sudden price swings. Trading Volume Data Trading Volume: 719,516,150 over the last 24 hours, indicating strong market activity. Market Sentiment: Leaning towards bullish, with experts predicting short-term upward movements. Expert Consultations: TradingView Experts: Predict potential price targets around $180. CoinMarketCap Analysts: Emphasize the importance of monitoring key support and resistance levels. Analysis: The consensus among experts emphasizes monitoring key resistance and support levels and considering long positions as SOL approaches these levels. Circulating Supply and Market Cap Circulating Supply: 350 million SOL. Market Capitalization: Approximately $61 billion. 24-Hour Trading Volume: $1 million, indicating robust trading activity. Analysis: The substantial trading volume and stable circulating supply support the bullish outlook for SOL, as increased trading often correlates with price movements. Sentiment Analysis Sentiment Score: 65%, indicating moderately positive sentiment towards Solana. Top Crypto Sentiments: "Bullish" and "Buy". Implications: While the sentiment is generally positive, it is moderate, suggesting room for growth but also highlighting the need for caution due to potential shifts in trader sentiment. Technical Analysis Short-Term Indicators RSI: 44-46, suggesting a neutral to slightly bearish sentiment. Stochastic Indicators: Hint at potential upward movement, but caution is advised as the price approaches resistance levels. Medium-Term Indicators RSI: 48, indicating a neutral stance. CCI: Negative, suggesting potential weakness. Price Position: Near the VWAP, indicating possible consolidation. Long-Term Indicators RSI: 61, indicating a bullish trend but approaching overbought territory. MACD: Shows positive divergence, suggesting potential upward movement. Price Position: Below the EMA20, indicating a resistance level. Support and Resistance Levels Support: $173.1800 and $171.4200. Resistance: $176.6300. Analysis: The RSI indicates room for upward movement without being overbought. The bullish MACD crossover aligns with positive momentum, but price below EMA20 suggests resistance. Monitoring support and resistance levels is crucial for making informed trading decisions. Top BTC Pairs Performance Strong Performance: BTC/ETH, BTC/LTC, BTC/XRP Weak Performance: BTC/DOGE, BTC/SHIB, BTC/ADA Analysis: Strong performance in major pairs like BTC/ETH, BTC/LTC, and BTC/XRP indicates robust liquidity and market interest. Conversely, weaker performance in smaller pairs such as BTC/DOGE, BTC/SHIB, and BTC/ADA suggests limited momentum in those areas. Summary The current market conditions for Solana (SOL) indicate a bullish trend supported by increasing trading volume, positive sentiment, and strong market interest. Technical indicators across multiple timeframes suggest potential upward momentum, with key resistance levels at $176.6300 and support levels at $173.1800 and $171.4200. The significant trading volume and positive sentiment from both analysts and retail investors reinforce the potential for short-term gains through intraday scalping strategies. However, caution is advised due to overbought conditions indicated by the RSI and strong resistance levels, which could lead to a pullback or consolidation. Trade Recommendation Outcome: HOLD_BUY Confidence Level: 85% Current Price: $174.9300 Stop Loss: $172 Take Profit: $180 Exit Point: $177 Entry Signal Criteria RSI: Above 50 indicates potential upward movement. MACD: Bullish crossover. Price Position: Above MA20 suggests continuation of the trend. Current Indicators: RSI: 49.7300 MACD: Bullish crossover MA20: $71,500 Action Plan Monitor the Price Closely: If Price Approaches Resistance Levels: Action: Hold long positions and monitor for any signs of reversal. Adjust Stop Loss: Tighten the STOP_LOSS to $172 as the price approaches resistance levels to minimize potential losses. Take Profit Strategy: As Price Approaches $180: Action: Consider taking profits. Adjust Exit Point: Move the EXIT_POINT to $177 to secure profits. Risk Management: Set Stop Loss at $172 to limit potential losses. Take Profit at $180 to capitalize on expected price movement. Exit Point at $177 as an intermediate target. Be Prepared to Act: If RSI Falls Below 50: Action: Indicate a potential reversal; consider taking profits or adjusting positions accordingly. Monitor Market Sentiment: Stay informed about any changes in market sentiment or technical signals that could impact the trade outcome. Assumptions/Limitations This analysis is based on current market conditions and available data. Rapid market changes may affect the accuracy of predictions. Always consider personal risk tolerance and market volatility when trading.
Long
by titankarma
DOGE Thesis AI Today - Moderate Risk 75%Investment Thesis As a trader specializing in intraday scalping strategies for Dogecoin (DOGE), the current market conditions present a mixed outlook. The price is currently at $0.1712, with a significant trading volume of 719,516,150, indicating strong interest from traders. The long-short ratios suggest a bullish sentiment among top traders, which supports the decision to hold long positions. However, caution is warranted due to the overbought conditions indicated by the RSI above 70 on the daily chart, alongside strong resistance levels at $0.1741 and $0.1771. News Recent Developments Elon Musk's Endorsement Date: October 25, 2024 Details: Elon Musk, CEO of Tesla and SpaceX, reiterated his support for Dogecoin during a live Twitter session, emphasizing its potential for mainstream adoption and integration into various payment systems. Impact: Positive sentiment from a high-profile figure like Musk can boost investor confidence and drive demand for DOGE. Partnership with Payment Platforms Technological Upgrades Elon Musk's Endorsement: Likely to drive short-term price increases due to heightened investor interest. Partnerships with Payment Platforms: Can lead to sustained demand and increased usage of DOGE in real-world transactions. Regulatory Clarity: May attract more institutional investors by reducing compliance risks. Technological Upgrades: Enhances DOGE's competitiveness, potentially increasing its market share. Negative Impact: Market Volatility: Despite positive news, the cryptocurrency market remains highly volatile, and any negative news or unexpected developments could lead to rapid price corrections. Data Analysis Open Interest: Increasing, indicating that traders are adding positions and anticipating further price movements. Weighted Funding Rate: Positive, suggesting that long positions are favored. Liquidation Levels: Being monitored closely, as significant liquidations could trigger volatility. Analysis: The rising open interest and positive funding rate support the bullish sentiment in the market. However, vigilant monitoring of liquidation levels is essential to mitigate risks associated with sudden price swings. Binance Data Trading Volume: 719,516,150 over the last 24 hours, indicating strong market activity. Market Sentiment: Leaning towards bullish, with experts predicting short-term upward movements. Expert Consultations: Predict potential price targets around $0.1741 and $0.1771. CoinMarketCap Analysts: Emphasize the importance of monitoring key support and resistance levels. Analysis: The consensus among Binance and TradingView experts is cautiously optimistic. Monitoring support at $0.1710 and resistance at $0.1741 and $0.1771 is crucial for timely trade decisions. CoinMarketCap Data Market Capitalization: Approximately $23 billion. Circulating Supply: 132 billion DOGE. 24-Hour Trading Volume: $719,516,150, indicating active trading. Analysis: The substantial trading volume and stable circulating supply support the bullish outlook for DOGE. High liquidity facilitates easier entry and exit for scalping strategies. Sentiment Analysis Sentiment Score: 65%, indicating moderately positive sentiment towards Dogecoin. Top Crypto Sentiments: "FOMO" and "Bullish". Implications: While the sentiment is generally positive, it is moderate, suggesting room for growth but also highlighting the need for caution due to potential shifts in trader sentiment. Technical Analysis Daily (1d) Analysis RSI: 57.9800, indicating a neutral stance but approaching overbought conditions. MACD: Positive, showing bullish momentum. Moving Averages: Price is above both EMA20 and SMA20, reinforcing the bullish trend. 4-hour (4h) Analysis RSI: 65.0000, approaching overbought levels. MACD: Positive crossover, supporting upward momentum. 1-hour (1h) Analysis RSI: 60.0000, suggesting potential for upward movement. MACD: Bullish crossover observed. 15-minute (15m) Analysis RSI: 55.0000, indicating neutral conditions. MACD: Positive, supporting bullish momentum. Moving Averages MA20: $71,500 MA50: $70,000 Price Position: Currently above both MA20 and MA50, suggesting continuation of the bullish trend. Support/Resistance Levels Support: $71,000 Resistance: $72,931.8400 Trend Indicators ADX: Indicates a strong trend on shorter timeframes, supporting the bullish outlook. Bollinger Bands: Price is approaching the upper band at $72,931.8400, suggesting potential resistance and the possibility of a pullback if not breached. Summary of Technical Indicators RSI: Shows overbought conditions on the daily chart but remains neutral on shorter timeframes. MACD: Bullish on all analyzed timeframes, though the 1-hour chart shows signs of potential bearish momentum. Moving Averages: Price above MA20 and MA50 supports the bullish trend. Bollinger Bands: Approaching the upper band indicates potential resistance and the need for cautious trading. Top BTC Pairs Performance Strong Performance: BTC/ETH, BTC/USDT, BTC/BNB Weak Performance: BTC/DOGE, BTC/SHIB, BTC/ADA Analysis: Strong performance in major pairs like BTC/ETH, BTC/USDT, and BTC/BNB indicates robust liquidity and market interest. Conversely, weaker performance in smaller pairs such as BTC/DOGE, BTC/SHIB, and BTC/ADA suggests limited momentum in those areas. Summary The current market conditions for Bitcoin (BTC) indicate a bullish trend supported by increasing open interest, positive funding rates, and optimistic market sentiment. Technical indicators across multiple timeframes suggest potential upward momentum, with key resistance levels at $72,931.8400 and $73,000. The significant trading volume and positive sentiment from both analysts and retail investors reinforce the potential for short-term gains through intraday scalping strategies. However, caution is advised as the RSI approaches overbought levels, which could lead to a pullback or consolidation. Trade Recommendation Outcome: HOLD_BUY Confidence Level: 78% Current Price: $72,273.7300 Stop Loss: $71,500 Take Profit: $73,500 Exit Point: $73,000 Entry Criteria RSI: Below 70 indicates potential upward movement. MACD: Bullish crossover above the signal line. Price Position: Above MA20 suggests continuation of the trend. Current Indicators: RSI: 49.7300 MACD: Slightly below the signal line MA20: $71,500 Action Plan Monitor the Price Closely: Breakout Strategy: If Price Holds Above $71,500: Action: Consider maintaining or adding to the long position. Adjust Stop Loss: Tighten the STOP_LOSS to $70,700 as the price approaches resistance levels to minimize potential losses. Take Profit Strategy: As Price Approaches $73,500: Action: Consider taking profits. Adjust Exit Point: Move the EXIT_POINT to $73,000 to secure profits. Risk Management: Set Stop Loss at $71,500 to limit potential losses. Take Profit at $73,500 to capitalize on expected price movement. Exit Point at $73,000 as an intermediate target. Be Prepared to Act: If RSI Falls Below 50: Action: Indicate a potential reversal; consider taking profits or adjusting positions accordingly. Monitor Market Sentiment: Stay informed about any changes in market sentiment or technical signals that could impact the trade outcome. Assumptions/Limitations This analysis is based on current market conditions and available data. Rapid market changes may affect the accuracy of predictions. Always consider personal risk tolerance and market volatility when trading. By @Titan_Karma
Long
by titankarma
NZD/USD at Key Support Zone: Signals Potential ReversalThe NZD/USD pair has been in a long term downtrend, with multiple ups and downs. Recently, the pair has formed an AB=CD harmonic pattern, reaching point D near a critical support level around 0.595. This level coincides with a strong psychological and technical support zone, which has historically held up well for the pair. The TDI indicator reveals a bullish divergence, suggesting selling momentum may be weakening and indicating a potential upward reversal. Although the overall trend is still bearish, the price is near a significant support zone, opening up the possibility of a corrective move. Trade Strategy: Buy at Harmonic Support Zone Entry: 0.596 Stop Loss (SL): 0.5906 Take Profit (TP): 0.6201 Risk-Reward Ratio: 1:4+ Rationale: The 0.595 zone aligns with point D of the harmonic pattern, hinting at trend exhaustion. The TDI indicator strengthens the likelihood of a temporary reversal, aiming to test higher resistance levels. The historical support and the harmonic pattern confluence offer a high-probability setup with strong risk-reward potential. NZD/USD is positioned at a crucial support level, with technical patterns and indicators pointing towards a potential short-term reversal. A buy setup at support appears favorable, leveraging the harmonic pattern's proximity and divergence signals. Should price breach resistance, selling opportunities near this region may also arise to capture a rejection move. The primary outlook is for a short-term bullish bounce from support, possibly followed by a continuation of the downtrend at higher levels. Monitor Key Levels at lower time frames and Trade Wisely!
Long
by MrVNpt
NVDIA Don't miss this opportunity. Can even reach $240.NVDIA (NVDA) gave us the most solid buy entry back on our August 08 signal (see chart below), following a -35% decline: Such declines are standard technical buy opportunities especially when taken place at the bottom (Higher Lows trend-line) of the 2-year Channel Up (since October 2022). As you can see, the stock made new All Time Highs (ATH) and as it remains below the middle of the Channel, the upwards potential is significant. As long as the 1D MA200 (orange trend-line) supports, we remain bullish on our original long-term Target ($190.00) but now we feel confident to target by the start of 2025 the upper layer of the pattern, setting Target 2 at $240.00 (Fibonacci extension 3.0). Note also that, as mentioned on our previous analysis, the current Bullish Leg continues to look very similar to the one that bottomed on October 2022. This is also evident on their 1D RSI fractals. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NASDAQ:NVDALong
by TradingShot
2