Get started

Harmonicpattren

Complete analysis of BTCHello dear friends, I hope you're doing well. Currently, Bitcoin is in a ascending channel. Given the ongoing conflicts like Russia-Ukraine, Israel-Hamas, and Lebanon, people's excitement for buying is natural. In my opinion, two scenarios could unfold: 1: Due to people's emotional behavior and speculative pricing, after reaching the FVG range around $73,000, Bitcoin could return to the channel's floor. 2: After a bullish move to the middle of the channel, we might head towards the historical ceiling at $74,000 and then return to the channel's floor. ---------- Please note, this market is full of smart and psychological traps. For example : Pay attention to the yellow triangles. They often represent strong support after multiple touches, allowing for comfortable long positions upon subsequent encounters. Also, the possibility of fake breakouts at the channel's ceiling is high. ---------- Regarding important news about USDC stablecoin: Binance has halted support for USDC stablecoin on the Tron network. What might be the reasons behind Circle (the issuer of USDC) removing support for the Tron network? Most likely, USDC has been forced to take this step to appease US regulators. There's a high likelihood that Justin Sun, a major figure in the market, might face a fate similar to CZ. He manages TRX, BTT currencies, and the Poloniex exchange. ---------- Regarding Tether dominance, the $3.80 support range is the biggest barrier to Bitcoin's upward movement. ---------- Timeline analysis: Friday, March 28, and Tuesday, April 8, are crucial days ahead, preceding the halving event. I'd be happy to share your opinion with me. Your likes, follows, and comments give me energy.
by Sadegh_Sh
15
AUDNZD | Hidden Bearish Divergence | Harmonic Bearish Shark The AUDNZD chart currently shows the formation of a XABCD Harmonic Shark Bearish Pattern, indicating a Potential Reversal Zone (PRZ). Additionally, there is a hidden bearish divergence, suggesting that the current uptrend is likely to reverse into a downtrend. Furthermore, on the daily chart, the price has just touched a strong daily resistance zone, which also serves as an Order Block (OB). This action confirms the bearish OB and all these indicators collectively suggest a shift in the trend to a downtrend. In technical analysis, a Harmonic Shark pattern is a specific type of harmonic pattern that signals potential trend reversals. The completion of this pattern at the PRZ indicates an area where traders might anticipate a change in the current price direction. A hidden bearish divergence occurs when the price forms higher highs, but the corresponding indicator (such as the Relative Strength Index or RSI) shows lower highs. This suggests underlying weakness in the upward momentum, potentially leading to a reversal. The concept of an Order Block (OB) refers to a significant level of support or resistance where institutional traders have previously entered the market. When the price approaches and reacts to this level, it can confirm the strength of the OB. On the 1-hour time frame, also there is a hidden bearish divergence, and the Previous Day High (PDH) liquidity has been taken. Whenever the PDH is breached, a pullback to the downtrend is often observed. Additionally, the trend line on the 1-hour time frame has been broken, and the price has retested this trend line. According to Dow Theory, these indications suggest a shift in price behavior from forming higher highs (HH) and higher lows (HL) to forming lower highs (LH) and lower lows (LL). On the daily time frame, the price has tested a strong resistance zone and is rejecting from its peak resistance level bearish OB. Overall, the daily chart appears bearish, indicating a potential trend change. Additionally, there is a trend line liquidity that needs to be breached for the price to move in either direction. In summary, the combination of the Harmonic Shark Bearish Pattern, hidden bearish divergence, and interaction with a higher time frame to lower time frame strong daily resistance zone (Order Block) suggests a strong indication of a potential shift from an uptrend to a downtrend in the AUDNZD pair. However, it's essential to conduct comprehensive analysis and consider other factors before making trading decisions.
Short
by awaisulabdeen
16
Next Gold Target 2090 or 2350? Check Analysis📣Hello Mates! We have seen that gold is continuously bullish and its momentum is not going down, so now we think that gold has gone as high as it was supposed to go, maybe it can go up a little more to 2280 or 2300. May then continue to go down and meet our targets of 2150 and 2090. 🔑 Remember, money management is crucial. Before employing our analysis, please conduct your own research and refrain from investing more than 2% of your portfolio. 📈 Our resistance levels are spotted at: - 2266.00 📉 And our support levels are set at: - 2150.00 - 2090.00 Stay tuned for further updates and trade smartly! 📊
OANDA:XAUUSDShort
by BigtimeFx
1
GOLD: Prime Selling Opportunity Unveiled by Harmonic Symmetry!GOLD has recently breached its downside structure. Currently, the price is undergoing a corrective phase on the 1-hour timeframe, characterized by the presence of a Gartley symmetry. This harmonic pattern is poised to conclude at a highly probable supply level. In the event of the successful completion of this harmonic pattern, a robust selling opportunity is anticipated, as visually depicted on the accompanying chart.
CAPITALCOM:GOLDShort
by Koolermactrez
EURJPY: Harmonic Bat and Rising Wedge Unveil Insights...SELL?Greetings, fellow traders! In the context of EURJPY, a discernible pattern is emerging as the price unfolds within the confines of a rising wedge. Notably, this pattern is converging towards a prospective supply zone, coinciding with the culmination of a harmonic bat pattern as it reaches its D leg. Anticipation of a market shift towards selling becomes more apparent in light of this convergence. The confluence of factors, including the potential completion of the harmonic bat pattern and the formation of the rising wedge, adds weight to the expectation of a downturn. The significance of this scenario is further underscored by the likelihood of a breach in the supporting trend of the wedge. Closely monitor this juncture, as it presents an opportune moment for strategic decision-making. Exercise due diligence and consider leveraging this insightful confluence for informed trading decisions in the evolving EURJPY market. Happy trading!
Short
by Koolermactrez