USDCAD: Day Trading Setup for Today 🇺🇸🇨🇦
USDCAD is currently consolidating within a horizontal intraday range.
After a test of the resistance of the channel, the price may drop
all the way down to its support.
As a confirmation, I see a head and shoulders pattern formation.
Target - 1.3466
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Head and Shoulders
Premium Analysis (BTC against GOLD)An inverse H&S has been formed and retested in the neckline, so I spect a good upside momentum these days (at least until H&S projection reaches its objective), which is in line with market sentiment right now.
But remember, we can't say we are bullish until we make a clear break of 70k USD.
GOLD --- When Breakout? $2700 Target remains in place. The war against sound money...
keeping a "lid" on the price of the worlds biggest asset
and truly the only real collateral in the world.
Is being slowly lost.
We have a continuation head and shoulders that many people are watching.
But something to note
Is that the previous times #Gold has traded above 2 thousand dollars
The smackdown has been quick and violent.
If you noice in the past few weeks,
the compression of price ,
and the consecutive number of weekly closes above 2k.
Is the most it has ever been.
Are the Bankers ready to let it run...
since they seem to be pumping up all assets prices for the 2024 election.
I think the ramp up to 2.7k could be quite violent... do we get there by summer?
NZDUSD: Bullish Movement Confirmed?! 🇳🇿🇺🇸
I see a nice potential trend-following movement on NZDUSD.
The pair is trading in a strong bullish trend and has recently retraced
to a key horizontal structure support.
An inverted head and shoulders formation and a violation of its neckline
is a strong bullish signal.
We can expect growth at least to 0.6306
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Potential inverse h&s on TRBUSD to keep an eye onThe right shoulder hasn’t completed yet so there’s always a chance this doesn’t play out. Especially if any unforeseen black swans are looming in the near future. However, considering Q4 should likely be bullish at this phase of the market cycle, there’s also a good probability of this pattern playing out so I’m posting a chart of it here so I can easily keep tabs on it later. *not financial advice*
Long Setup fot APT (Aptos)There is a reversed head and shoulder pattern in APT daily chart.
APT has gained it's momentum back recently. Like Fantom and many others have also created their formations to get back up where they were weeks ago.
Currently in 1 hour time frame there is a flag pattern created.
I don't think there will be any better place to take long but here.
Good luck.
ABCapital Near its ATHOn monthly charts, stock has created inverted head and Shoulder pattern. Stock is consolidating near multiyear resistance and its all-time-high. short term target can be 260. If it sustains above 265, stock can show massive rally towards 450-500. But it will take time. Still, its good entry point if you can hold it for next 3 years.
Disclaimer : this is not stock suggestion. ideas are for educational purpose only.
Set Up for BNB (BinanceCoin)There is a reversed head and shoulders pattern in BNB at the very key point.
Breaking above this struckter will cause BNB to claim daily Orderblock left many days ago.
I left an example position for long entry.
I actually don't recommend a stoploss before closing daily candle below the stoploss level I created but it's your decition.
There is also a short term target for BNB if you are a scalper which is 617 currently the liqudation area.
Good luck.
EURCHF: Classic Bearish PatternsI spotted two bearish price action patterns on the 📉EURCHF chart.
The price on a 4-hour time frame has broken and closed below the support line of a rising wedge pattern.
On a 1-hour time frame, the market has breached the neckline of a head and shoulders pattern.
I believe that the pair is likely to continue declining, with the next resistance level being at 0.9382.
FETCH AI - Bullish Pattern : Inverse H&SThere's a few reasons to be bullish on FETCH right now:
👉 Bullish pattern in the daily timeframe; inverse Head and Shoulders
👉 Daily TF price is trading ABOVE 200 day moving averages - bullish technical indicator
👉 Support zone retested and held
👉 Great pick for TOP AI Coins 2024
I'd be watching the Fibonacci zones as potential targets for the next impulse wave up, given BTC will likely lead us there.
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BINANCE:FETUSDT
USDJPY: Bearish Reversal ConfirmedThe USDJPY chart has developed an inverted head and shoulders pattern on the 4-hour time frame. Following the release of US economic data on Friday, the price surged and broke through the neckline of the pattern.
This morning, the price retraced and tested the broken neckline, which held as resistance. We can anticipate further upward movement from here.
Key support levels to monitor are 145.09 and 145.97.
USDJPY: Bearish Reversal ConfirmedThe USDJPY chart formed an inverted head and shoulders pattern on the 4-hour time frame.
After the release of US fundamentals on Friday, the price increased quickly and broke through the pattern's neckline.
This morning, the price tested the broken neckline and held as resistance. We can expect further upward movement now.
Potential support levels to watch for are 145.05 and 145.96.
Novo Nordisk could be dropping 15% from hereLooking at Novo Nordisk and the fundamental I have a hard time thinking Novo would drop further at this point. However the technical setup indicates that if we don't hold the current level we could drop more than 15% from here.
- The head and shoulder is complete now we just need to see if we can get a follow through.
- Closing price Friday was below the 200 daily moving average.
The recent price drop is caused by a dissapoint in early trial results of their pill Monlunabant.
USDJPY forms a head and shoulders bottom patternOn the 4-hour chart, USDJPY formed a head and shoulders bottom pattern, and short-term bulls have the upper hand. Currently, we can pay attention to the support near 141.7. If we fall back to this position and do not break it, we are expected to continue to rise. The upper resistance is around 147.2.
Weekly Forecast - Multiple Scenario's On The Cards, Be Patient1. DXY - NEUTRAL
2. EURUSD - LONG
3. GBPJPY - NEUTRAL
4. USDJPY - NEUTRAL
As you can see, multiple pairs have a neutral bias for me going into the week so I'll be paying close attention to how the lower time frames shape up they'll give the first indication of which side of the market we'll see sponsorship in.
This means I'll be exercising patience going into the week and waiting for further development from price as capital preservation should be front of mind when setups aren't crystal clear.
Let me know your thoughts in the comments below, are you seeing anything different?