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Harmonicpattren

EUR/USD tumbles below 1.0800 on Trump’s tariff planThe EUR/USD pair has declined amid a renewed demand for the US Dollar (USD) during Friday's Asian trading session. Additionally, Donald Trump's proposed tax increases have put pressure on the Euro (EUR) against the USD. Traders are now awaiting the US November Michigan Consumer Sentiment data for further market direction, along with a speech by Federal Reserve official Michelle Bowman later this week. Looking at the technical chart, the EUR/USD pair is currently in a downtrend, trading around 1.0780, down 0.2%. With resistance at 1.080, the pair has faced difficulties and has dropped to the support level at 1.071. Given the current factors, there is a possibility that the EUR/USD pair could break this support level and continue moving lower. Investors need to closely monitor economic data and comments from the Fed to catch any new signals from the market.
by Alisa_Rokosz
Where from here can go BTCUSD BTC Long BTC Short How far can #BTCUSDT go? Is the top close, before we see a bigger pull back? Will We See Bitcoin Over $100k? I think that at this moment, although we have great euphoria that we will very soon see a break above the magical $100k, at least according to some other indicators, we may see an all time high (ATH), but I think that after that we will see that bigger pull back. We have that before (I pointed 2 years ago) and even I give where can be bottom. If that happens, some will call it "fakeout" or "deviation", but I think it could just be an EXPANDING FLAT that often appears as a correction, very often as the fourth wave in the Elliott wave fraction. B wave, from ABC correction, as a rule, ends beyond the beginning of A wave (in this case it is ATH), 105% - 138% of wave A, while the target for C (the final leg of ABC) is 123.6% - 161.8% of wave AB. Several indicators, if we see a new ATH soon, will create divergences (RSI, AO, etc.), which can usually be an indication of an exhausting movement. Also for this idea I see a couple of harmonic patterns that make confluences for these targets. As I said, the price has not yet reached those areas, but this is something I will keep in mind if we see the new ATH soon. It is also interesting to see on the 1D time frame some harmonic patterns that were very important in certain moments. I hope for everyone who wants to see Bitcoin over $100k soon, that this idea will not be correct. In any case, time will tell if I am right and I will try to update as soon as I see some important changes.
BITSTAMP:BTCUSD
by CryptoArch_
Bullish Butterfly EURUSD DailyLooks like EURUSD is forming a Bullish Butterfly pattern as the Dollar strengthens across most pairs. I'm looking for the pair to continue decline into support around 1.0575-1.0675, consolidate and possibly dead cat bounce before proceeding towards the 1.05 range. I'm also looking for the 14-period RSI to enter oversold territory during this time, which I project may go through the end of November. I'm currently already short, having racked up ~300 pips. My current stop loss is about 150 pips trailing.
by thetradeWELL
USDCAD - Technical Analysis [Long & Short Setup]🔹 USDCAD Analysis on 1HR chart - The current Trend Seem neutral - Bearish Divergence is Present - No Reversal pattern - Found Harmonics AB=CD Pattern - Waiting for a Break of Structure for Confirmation Either at Point C or At Point B. - If point C break we short. - If point B break we long. 🔹 Trade Plan At Point C - Entry Level = 1.35589 - Stop Loss = 1.36036 - TP1 = 1.35137 - TP2 = 1.34681 🔹 Trade Plan At Point B - Entry Level = 1.36297 - Stop Loss = 1.35783 - TP1 = 1.36757 - TP2 = 1.37213 🔹 Risk Management - First TP is 1:1 - Second TP is 1:2 🔹 How to Take Trade? - Only risk 2% of your portfolio - Take 1% risk entry with 1:1 RR - Take 1% risk entry with 1:2 RR Like and subscribe to never miss a new idea! ✌🏼
by Bountysoul
GOLD h1 chart analysis 100%Follow the instructions. If the price consolidates between $2502 and $2505, gold may touch the $2494 level before bouncing back to $2528. A break above the strong resistance level could potentially send gold to new all-time highs (ATH). Bullish Opportunities: 1. 2500 - 2502 2. 2477 - 2487 Bearish Opportunities: 1. 2510 - 2512 2. 2546 - 2560 (Only if the Strong resistance level Breaks and Gold Reaches its new high). Possibility: waiting for geopolitical situation as it getting worsting. I'll Update as it needs to be updated. Use proper risk management Or money management and follow my instructions properly. Don't forgot to support by liking or following!!
FOREXCOM:XAUUSD
by sabellaFX
USOIL : Weekly Technical AnalysisHi Traders! Crude oil prices declined on Tuesday due to demand concerns driven by weak economic growth in China, the world's biggest crude importer. Brent crude fell 1% to US$76.77 per barrel and West Texas Intermediate crude lost 0.1% to US$73.50/b at last look early Tuesday. Demand concerns offset impacts of the production and export halt at Libya due to a political dispute, Reuters said in a Tuesday report. China's purchasing managers' index hit a six-month low in August and new home prices grew in the month at their weakest pace this year. Meanwhile, Libya's National Oil Corp declared force majeure at its El Feel oil field from Sept. 2. Total production in the country had dropped to just over 591,000 barrels per day (b/d) as of Aug. 28 from nearly 959,000 b/d on Aug. 26, Reuters reported, citing NOC. However, the Organization of the Petroleum Exporting Countries is reportedly set to proceed with its planned output boost in October regardless of demand concerns, Reuters reported, citing unnamed industry sources. From a technical point of view, the break of the support (left wing) should confirm our bearish harmonic structure and subsequently push the price around $55. If OPEC confirms an increase in production, this element could support our idea. What do you think?
FX:USOILShort
by TheAnonymousBanker
7
NZD/USD: Bearish Reversal Signal with Key ConfluencesThe NZD/USD pair is currently exhibiting signs of a potential bearish reversal, highlighted by the formation of a Bearish Butterfly Harmonic Pattern . This pattern, when combined with the key technical confluences identified, supports a strong bearish outlook for the pair in the short to medium term. Bearish Butterfly Harmonic Pattern: The Bearish Butterfly Harmonic Pattern has formed near a critical resistance zone, suggesting a potential price reversal. The confluence of this pattern with the 78.6% Fibonacci retracement level on the weekly chart further reinforces the bearish sentiment. The harmonic pattern's completion at this juncture is a significant indication that the upside momentum may be waning. Key Resistance and Trendline Confluence: Price has recently tested and rejected a key resistance level, which aligns with both the descending trendline and the 78.6% Fibonacci level on the weekly chart. This rejection adds credibility to the bearish bias, as it suggests that sellers are stepping in to defend this area. RSI Divergence on 4-hour time frame: An additional layer of confluence is provided by the RSI divergence observed on the 4-hour timeframe. The RSI has shown a bearish divergence, indicating weakening bullish momentum. This divergence often precedes a trend reversal, further supporting our bearish outlook for NZD/USD. Trade Plan: Given the confluence of these technical factors, the following trade setup is recommended: Entry: 0.61970 Stop Loss: 0.62400 Take Profit Targets TP-1: 0.61540 TP-2: 0.61110 TP-3: 0.60680 Risk Management: This trade setup offers a favorable risk-to-reward ratio, with tight risk management in place. The stop loss is placed just above the key resistance level to protect against potential false breakouts. Conclusion: The combination of the Bearish Butterfly Harmonic Pattern, key resistance rejection, trendline confluence, and RSI divergence points to a strong bearish case for NZD/USD. Traders should consider entering the trade at the specified levels, with a clear focus on the risk management strategy outlined above. Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Please conduct your own research and consult with a licensed financial advisor before making any trading decisions.
Short
by trading_jupiter
EURUSD Weekly Analysis & ForecastHi Traders! As we showed in our last analysis (see chart below), the pair had formed a Reversal Pattern on both daily chart and intraday chart confirming the bullish trend in play. That said, from a technical point of view we also have a bullish harmonic structure on weekly chart with a potential Target around 1.1065. If our analysis is correct, we should wait for some pullbacks before trying to take a long position, but we will talk about that during Monday's session. PREVIOUS ANALYSIS KEY FUNDAMENTALS POINTS The Federal Reserve held its benchmark overnight interest rate steady in the 5.25%-5.50% range at the conclusion of its July 30-31 policy meeting, but also signaled that rate cuts may begin as soon as the U.S. central bank's meeting in September. The decision will hinge on data between now and then. U.S. firms added an underwhelming 114,000 jobs in July, and revisions to the prior two months knocked 29,000 positions from the previously estimated number of payroll jobs. That pushed the three-month average total payroll growth down to 170,000, below the level typical before the COVID-19 pandemic. The unemployment rate also rose to 4.3%, which could heighten fears that the labor market is deteriorating and potentially making the economy vulnerable to a recession. The number of people in a job or looking for work grew. Government data in late July showed the slowing of the labor market is being driven by low hiring, rather than layoffs, with hires dropping to a four-year low in June. Average hourly wages rose 3.6% in July compared to a year ago, versus a 3.8% annual increase in June. The Fed generally considers wage growth in the range of 3.0%-3.5% as consistent with its 2% inflation target. In a sign of the job market's continued resilience, the level of job openings remained above 8 million in June, while the number of open jobs available for each unemployed person fell slightly to 1.2, remaining roughly where it was in the years before the pandemic. Fed Chair Jerome Powell has kept a close eye on the U.S. Labor Department's Job Openings and Labor Turnover Survey (JOLTS) for information on the imbalance between labor supply and demand, and the pandemic-era jump to more than 2 to 1 in the number of open jobs for each available worker was emblematic of the time. Things have cooled substantially. Other aspects of the survey, like the quits rate, now down to 2.1, have edged back to pre-pandemic levels in what Fed officials view as an emerging balance between the supply and demand for workers. While the hiring rate has slowed, for example, the layoff rate has remained stable in a sign of companies holding on to workers. The personal consumption expenditures price index, used by the Fed to set its 2% inflation target, shows inflation slowly subsiding. It fell in June to a 2.5% annual rate, from 2.6% in the prior month. Core PCE prices, stripped of volatile food and energy costs, remained unchanged in June at 2.6%. Despite that reading, the data looks set to help Fed officials build more confidence that inflation is moving toward the U.S. central bank's 2% target. On a month-to-month basis, the PCE index rose 0.1% while core PCE prices edged up 0.2%. Officials have begun to pay closer attention to signs of weakening demand in the economy as a precursor to a slowed pace of price increases. The separate consumer price index fell in June by 0.1%, with drops in both volatile energy items and core consumer goods like vehicles, and weakness in housing costs that Fed officials have long been waiting to see. The 0.2% rise in shelter prices was the slowest since August of 2021, and overall it was the weakest CPI print since May of 2020. The data pushed the annual rise in consumer prices down to 3% from 3.3% in the prior month, with the more volatile core index, excluding food and energy, falling to 3.3% from 3.4%. Thanks for watching
Long
by TheAnonymousBanker
16
Emerging Pattern: Is Gold a Short or Long Opportunity?Good day Traders, Trust your day is off to a great start. Here is my analysis of the gold market. 1. Pattern : emerging bullish butterfly with 1% tolerance. 2. Completion : The pattern is projected to attain completion at point D, which is approximately at 2334.638 on the chart, which is why we are considering short position. 3. PRZ Zone : The potential reversal zone in anticipation of a bullish reversal ranges from 2334.638 to 2261.280. This where we intend to close our short trades 4. Target Levels : The targeted levels are T1 at 2401.823, T2 at 2370.158, and T3 at 2335.314. 5. Entry : I am looking to confirm a break and close below 2452.511 price region downwards, with solid market resistance before entering the sell trade. Why wait for a break and close below 2452.511? The broken H1 supply zone could act as a demand zone thus pushing price upwards. 6. Invalidation : Should there be a break and a close above the H4 supply zone at 2483.74, this would invalidate the setup and the associated trade idea. Please note : Rising tensions in the Middle East can increase demand for gold (thus increasing its price further) as investors seek to protect their capital from potential market volatility. Cheers and happy trading!
OANDA:XAUUSDShort
by Samuel124
Bullish Bat Breakout: EURNZD Trade IdeaHello traders, I hope you're all doing well. Below is my analysis of the EURNZD pair and a detailed plan on how I intend to capitalize on this trading opportunity. 1. Pattern : Bullish Bat on EURNZD. 2. Completion : The pattern reaches completion at point D, which is approximately at 1.81178 on the chart. 3. PRZ Zone : The potential reversal zone for considering long positions, in anticipation of a bullish reversal, spans about 100 pips, ranging from 1.8185 to 1.80758. 4. Target Levels : Post-reversal, the targeted levels are T1 at 1.83131, T2 at 1.84192, T3 at 1.84952, and the extended target T4 at 1.86495. 5. Entry : I am looking to confirm a breakout above the 1.81849 price region upward, with solid market support for going long before entering the trade. 6. Invalidation : Should there be a break and a close below 1.80758, this would invalidate the pattern and the associated trade idea. This idea is potentially a 4RR trade idea if it goes as planned. I will appreciate your thoughts on this idea. Note: This is not a financial advice. Cheers and happy trading!
Long
by Samuel124