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Golden Opportunity: Key Market Supply Zone Signals Possible SellWelcome Traders! Let's dive into an in-depth analysis of GOLD and explore a possible SELL setup. we have a beautiful key market supply zone near a strong market level of $1950. This zone has previously acted as resistance as the market dropped from here a sizable 7.88%, making it a significant area to watch. To enter this setup, we can look for a potential bearish candlestick formation on the lower time frames, such as a shooting star or bearish engulfing pattern, as confirmation of selling pressure. We can also consider placing a stop loss above the supply zone and aiming for a target at the next support level. It's important to keep an eye on any potential news events or economic data releases that could impact the price of GOLD, as these could invalidate our analysis or present new opportunities. In summary, with a strong market level and key supply zone in play, a potential SELL setup on GOLD is worth considering. Keep a sharp eye on it for confirmation and be mindful of any potential risks or opportunities. Don't forget to like, comment, and follow for more updates on the financial markets!
OANDA:XAUUSD
by TheTradersAvenue
21
Trendline Breakout Creates Potential Buying Opportunity?Hello Traders Looking at the AUDUSD chart, we can see that there is a significant trendline resistance which has now turned into support after the market formed a double bottom and broke the trend line. While some might mistake this for a flag pattern and consider taking the short side, the double-bottom formation suggests otherwise, and we could potentially see a buy-entry opportunity. To enter this setup, I would wait for the market to retest the support zone near the trendline support at 0.6600. Once the market approaches this zone, we can start looking for potential buy entries. One possible entry strategy could be to wait for a bullish price action confirmation, such as a bullish pin bar or bullish engulfing candlestick pattern, to signal a potential reversal. It's important to note that trading always carries risk, and it's crucial to have a solid risk management plan in place to protect your account from potential losses. Thank you for reading this analysis. Please let me know if you have any questions or if there's anything else I can assist you with. happy trading
by TheTradersAvenue
8
Jumping on a Bullish Opportunity, Analysis to Possible BuyHello Traders! When looking at the EURUSD chart, we can see that there is a demand zone inside a beautiful long candle wick on the 4-hour timeframe. This demand zone is lining up with a strong trend line support level near 1.05500, which makes it a possible buy opportunity. To enter this setup, we can wait for a confirmation on a lower timeframe, such as the 1-hour or 30-minute chart. We can also set a limit order at the demand zone level to enter the trade automatically. It's important to always have a risk management plan in place before entering any trade. This can include setting a stop loss at a reasonable level and taking profits at a predetermined target. Overall, it looks like there could be a possible buy opportunity on EURUSD, but as always, it's important to do your own analysis and make informed decisions. Happy trading! Don't forget to boost and comment if you found this analysis helpful. Jumping on a Bullish Opportunity, Analysis Points to Possible Buy Entry
by TheTradersAvenue
2
USDJPY Bulls Eyeing Strong Buy Opportunity at Key Support ZoneAnalysis of #USDJPY The USDJPY has been showing signs of potential bullishness as it approaches a key support area between 130.00-131.00. The area is significant as it has served as a strong support zone in the past and is also coinciding with rising trendline support. Additionally, the key market levels around this area add further significance to the support zone. Traders looking to enter a long position on USDJPY could look for potential buying opportunities around the support zone. This could be done by placing a limit order at the support zone, or by waiting for confirmation of a bullish reversal pattern or price action. As always, It is important to keep an eye on any developments that may affect the market, such as news releases. Don't forget to like, follow, and leave a comment if you found this analysis helpful!
by TheTradersAvenue
15
EURUSD May Offer a Buying Opportunity as it Tests Key Support Hey traders! EURUSD is currently testing a Daily support zone as well as a demand zone at 1.05500. It'll be interesting to see how the Daily candle closes today. If we get a bullish confirmation, we could look for a buy entry targeting the next level of resistance at 1.06900. Remember to always manage your risk and use proper risk management techniques. Follow me for more trading insights and analysis. And if you found this helpful, give it a like and share it with your fellow traders! Happy trading!
by TheTradersAvenue
22
EURCAD > In-Depth Plan for Sell Entry..The EURCAD currency pair is showing signs of a possible sell entry opportunity as it approaches a strong resistance zone. This zone has been tested three times before and is also reinforced by a strong trend line resistance at the same level. The key market level of 1.4600-1.4620 has held as resistance in the past and we could see a bearish reaction from this zone again. To trade this setup, we can look for a sell entry once the price reaches the resistance zone at 1.4600-1.4620. We can use bearish confirmation signals such as a bearish engulfing pattern or a double top formation to enter the trade. It is also important to use proper risk management techniques and have a stop loss in place to limit potential losses in case the trade doesn't go as planned. Overall, this potential sell setup on EURCAD looks promising given the strong resistance zone and trend line resistance. Keep an eye on the price action around 1.4600-1.4620 and wait for confirmation before entering the trade. Don't forget to manage your risk and always use proper risk management techniques. Don't forget to follow me for more trading insights and analysis. If you found this helpful, please like, comment, and share.
by TheTradersAvenue
16
USDJPY > Detailed Analysis and Markup, What's Next?The USDJPY currency pair is currently near a critical level of trendline support, which has been tested multiple times in the past. Additionally, we have identified a strong bullish harmonic bat pattern forming, adding further confirmation to a potential buy entry. The key level to watch is the 135.800-135.600 zone, where the trendline support and the D leg completion of the harmonic pattern converge. Traders can consider two possible ways to enter this trade. The first approach is to set a limit order at the D leg completion of the harmonic pattern, which provides a more aggressive entry strategy. This method allows traders to enter at a predefined price level, reducing the risk of being caught in a false breakout. The second approach is to wait for a confirmation of the bullish move, which can come in the form of a bullish candlestick pattern or a break above the nearest resistance level. This approach provides a more conservative entry strategy and may result in a better risk-to-reward ratio. Regardless of the entry method, traders should use proper risk management techniques, including setting stop-loss orders and adjusting position sizes to manage risk appropriately. In conclusion, with the trendline support and the bullish harmonic bat pattern lining up near the 135.800-135.600 zone, traders may consider a potential buy entry in USDJPY. However, it is essential to wait for confirmation or use a limit order to reduce the risk of being caught in a false breakout. Please if you like this analysis, follow me and like this analysis, share it with your trading community
by TheTradersAvenue
13
Bitcoin Under Pressure as Selling Continues, Testing Key SupportBitcoin has been consolidating around the 22000 level in recent days, with a potential breakout looming in the near future. However, the current price action suggests a bearish trend with selling pressure bringing the price down toward the support levels. Additionally, the pair has broken below both the 55-day and 100-day EMA, which indicates a weakening bullish trend. The next possible support level is the 200-day EMA at 21200, which could potentially provide a strong bullish reaction if the price bounces from this level. On the 4-hour chart, the price action is expected to remain bearish, with a possible continuation of the downward momentum. Traders may want to wait for a bullish confirmation before considering a long position, such as a bullish engulfing pattern or a trend line breakout. It is crucial to exercise proper risk management techniques and always consider your risk tolerance before entering any trade. Follow us for more updates on cryptocurrency trading strategies and analysis.
by TheTradersAvenue
33
EURUSD THE BULLISH PERSUSAION*DISCLAIMER* THIS IS FOR EDUCATIONAL PURPOSES AND I WILL NOT BE TAKING THIS TRADE. WHAT YOU DO WITH THIS INFORMATION IS ENTIRELY AT YOUR OWN RISK AND I AM NOT LIABLE. EURUSD has been on a prolonged bearish market on the weekly time frame, along the way it had some bullish corrections as the market cannot go in one direction for ever. I believe we're at the stage where price action will face another bullish correction but this time, will be a more significant turn around in the trend. The bullish deep crab indicates that price has been oversold and may face a bullish correction or a significant change in trend as you can see from the heavy assault from the bears. Price has tested the entire range of the PRZ first with extreme price action, marking the TPB almost exceeding the 2.0 make or break stop loss limit. The nature of price action when it comes to this particular pattern is, for price to first exceed the PRZ, then reverse immediately after testing this range. You can see how price action closes just above the 1.618 on the weekly time frame, showing the liquidity spike it did towards the late sellers leaving them trapped. This spike also indicates price action's first sign of exhaustion as this spike level of spike is huge. Back on the daily you can see price action consolidating and if you go on a lower time frame, you can see this range more in detail. One may say on a lower time frame, price action is in the accumulation phase which is the act of gathering the liquidity before the big shift towards the upside, so we can use this as a layer of confirmation for the bullish persuasion. Another layer of confirmation for the bullish persuasion is the RSI BAMM. The extreme RSI readings does a complex W type structure in the oversold reading, initiating the RSI Trigger bar. This begins the first phase of the divergence as the reading has a sharp rally towards 50% level. Although the reading did another impulse test on the oversold limit, it's okay because it did not test the 50% level as this is a minimum requirement before triggering the confirmation bar. The RSI reading does however, start to roll over after testing the 50% level which begins the final phase of the divergence which is the confirmation point. As price and RSI reading began to breakdown, this told us the short lived uptrend is over and the final push to the low has began before price action reaches a significant turning point. This "final push" indicates the composite operator is quickly trying to reach his target before the trend shifts. Scott mentions in volume 2 "The best trading opportunities develop when distinct patterns complete at important retest points for the RSI. When patterns complete while the RSI stabilizes, these signs accurately validate successful reversals well in advance." Which happened in this case, both price action and the RSI reading came in union to validate that price action has reached a significant turning point, although the RSI reading may have signalled an early trade, as price had to test and exceed the critical number in the PRZ, this has validated this PRZ as the sign post for a possible reversal. Over the past serval months I've noticed traders will place a limit order on the crucial number of the PRZ, although I respect them as they have high belief in the system, it is imperative you understand the nature of each pattern and also the time frame as so patterns may exceed the PRZ as a form a liquidity grab. Traders must remember the characteristics of extreme price action, just like in reality, if someone is desperate, they would like to achieve their target in a quicker turn around time by all means. This is where I see the human behaviour within price action. I won't go into further detail beyond this point as the rest is for my research and journal, thank you for taking the time for reading this blog. See you on the charts. Beaucoup Pips
Long
by BeaucoupPips
GBPUSD >> Strong Sell Setup as Market Breaks Key SupportHello Traders The GBPUSD market has recently broken a strong support level, as previously predicted in my previous analysis, and has now fallen over 200 pips. This level is now expected to become a resistance zone near the 1.1900 price point. This sets up a perfect sell opportunity for traders. Waiting for a bearish confirmation such as a double top or a bearish engulfing pattern would be ideal before taking a sell entry. Additionally, placing a stop loss above the resistance zone would be wise to protect against any unexpected bullish movements. Don't forget to properly manage your risk and utilize effective risk management techniques. For more trading insights and analysis, be sure to follow and like my page. Leave a comment and share if you found this helpful! Happy trading."
by TheTradersAvenue
12
Get Ready to Sell! Perfect Setup Near Trendline ResistanceAnalysis of #GBPUSD Hello traders, Looking at the GBPUSD chart, we can see that the market is currently approaching the trendline resistance and a previous structure resistance zone. This provides a potential sell entry opportunity. We can wait for the market to confirm the resistance level by forming a reversal pattern or showing bearish momentum before entering a sell trade. Our target could be the recent low or even lower to the next resistance level. Keep an eye on the market and follow me for more trading insights and analysis. Happy trading!
by TheTradersAvenue
6
Buy Opportunity Alert as Price Hits Key Support LevelsAnalysis of #USDCHF Hello traders Looking at the USDCHF chart, we can see that the market is currently at a key trend line support and a previous structure support level. Additionally, there is a major key market level at 0.9300 which could act as a potential bullish target. To trade this setup, we will wait for a bullish confirmation such as a double bottom or a bullish engulfing pattern. Once we have a confirmation, we can look for a buy entry with a stop loss below the trend line support. If the market moves in our favor, we can target the next structure resistance level and potentially the key market level. It's important to always manage our risk and use proper risk management techniques such as setting a favorable risk-reward ratio. Follow me for more trading insights and analysis. Don't forget to like, comment, and share if you found this helpful!
by TheTradersAvenue
13
Gold Price Alert: Sell Setup Detected at Strong Resistance ZoneAttention Gold Traders: Sell Setup Alert!" Looking at the Gold chart, we can see a potential sell setup forming. The market is approaching a previous resistance zone with a strong supply level on the 4-hour timeframe. Additionally, we have the Fibonacci 141 inversion level and the Fibonacci 0.618 level acting as confluence points for a potential reversal. we can look for bearish confirmation at these levels and wait for the market to make a move to enter a sell trade. Keep a close eye on the price action and follow my page for more trading insights and analysis. Don't miss out on potential profits. Remember to always manage your risk and trade with a sound strategy. Happy trading!
OANDA:XAUUSD
by TheTradersAvenue
8
Sell Setup: Previous Resistance + Strong Supply = Perfect Trade!Hello traders, The EURUSD chart shows a clear sell setup as it approaches a previous resistance zone. Additionally, on the 4-hour timeframe, we can see a strong supply level which adds more confluence to the sell setup. To trade this setup, we will wait for a bearish confirmation such as a double top or a bearish engulfing pattern. Once we have a confirmation, we can look for a sell entry with a stop loss above the resistance zone. Remember to always manage your risk and use proper risk management techniques. Follow me for more trading insights and analysis. Like, comment, and share if you found this helpful! thank you all
by TheTradersAvenue
14