Zcash near resistance - breakout or down?Hello, fellow traders!
This is my analysis on Zcash (ZECUSDT).
1οΈβ£ Analysis
We see the price slightly above the resistance line of the weekly regression channel. With the strong bullish movements of crypto and stock markets fueled by the outcome of the election, it has shown an aggressive uptrend yesterday.
2οΈβ£ Expectations
We might see a consolidation (orange path) very soon and we can imagine two different scenarios after it - even more aggressive uptrend or downtrend.
3οΈβ£ Key approach
Our first strategy would be entering short. If we confirm a lower breakout after the consolidation, we will view that as price respecting the current trend. We will then enter short, 30.84 being our final target. We then might see another consolidation between the regression line (dotted red line) and the support line (green line).
4οΈβ£ Other approach
Our second strategy would be entering long. If we confirm a upper breakout instead, we might consider a possibility of stronger, more aggressive uptrend. However, keep in mind there's a major resistance at 49.44, making this approach more unlikely.
5οΈβ£ Considerations
There are currently no news about Zcash that might affect the price movements. The interest rate announcement this Thursday might affect the crypto market positively. However, with major resistance being right above the resistance line, price is most likely to respect the current trend. If not, I will update the post accordingly.
React, don't predict! Stay disciplined and patient. Don't get greedy and be thankful.
Ephesians 5:8-10
(You might have noticed that I changed my chart settings - am trying to stay organized and consistent with my posts from now haha)
Community ideas
GBPUSD forming a bottom?GBPUSD - 24h expiry
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
Price action looks to be forming a bottom.
Posted a Double Bottom formation.
Preferred trade is to buy on dips.
Bespoke support is located at 1.2865.
We look to Buy at 1.2865 (stop at 1.2825)
Our profit targets will be 1.2965 and 1.2985
Resistance: 1.3020 / 1.3060 / 1.3100
Support: 1.2860 / 1.2830 / 1.2800
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The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
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#WLD (SPOT) entry range (1.550- 1.950) T.(8.000) SL(1.532)BINANCE:WLDUSDT
entry range ( 1.550- 1.950)
Target1 (3.600) - Target2 (4.590)- Target3 (6.000)- Target4 (8.000)
SL .1D close below (1.532)
Golden Advices.
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* collect the coin slowly in the entry range.
* Please calculate your losses before the entry.
* Do not enter any trade you find it not suitable for you.
* No FOMO - No Rush , it is a long journey.
Useful Tags.
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RIPPLE (XRP) Big Triangle PatternXRP is currently forming an ascending triangle pattern, with price action testing the minor resistance at 0.5631. A breakout above this resistance could pave the way for a bullish continuation toward the next target at 0.6658.
However, if the 0.5631 resistance holds, we could see a potential pullback toward the triangleβs support at 0.51077.
This analysis will be updated if any significant changes occur. Thank you.
Silver a win-winMy positioning
Anyone who's been following me for a while knows I've been quite bullish on silver for the past few years. In fact, I initiated my AMEX:SLV position in early 2021 when it was in the low 20's and then in late 2022 I rotated almost 50% of that position into AMEX:SILJ when it was right around $8. It was mostly dumb luck but I nearly bottom ticked that market and bought within an hour or so of what's become a multi-year low. I've continued to hold these two core long term positions, while also trading around the core positions when short term setups present themselves.
The win-win
Before I get into the chart technicals I want to get into the fundamentals that I think make silver a win-win in the long term. I typically don't use fundamentals when I trade but I don't consider this a typical in-and-out trade. This is more of a long-term hold based on my own fundamental thesis and supported by chart technicals.
The crux of my win-win thesis is that silver will outperform in both a bullish economic outcome and a bearish economic outcome. In the bullish economic scenario, the already voracious global silver demand will continue to increase as solar, AI and EV demand continues to grow. The question at this point isn't if, but how fast. The rate at which silver is being consumed could outstrip production by as much as 200moz by the end of this decade. While I expect scrap and new mining to somewhat fill that gap, it will eventually create a vacuum that only an increase in price will resolve.
In the bearish scenario the globe slips into a severe recession. This would cause industrial use of silver to plummet but safe haven demand for silver to explode. While the demand in the bullish scenario is more gradual, the demand in the bearish silver is explosive and would likely lead to a hockey stick price move.
The most bearish scenario for silver is that the globe goes into a mild recession, where demand for silver drops materially but the large safe haven demand doesn't materialize as it would in a severe recession. In this case silver may tread water and bounce around in range.
The technicals
The silver chart makes just as compelling of a case as the fundamentals. Silver has what Peter Brandt has affectionately referred to as "the mother of all cup and handles". While the 45 year pattern means this could take quite a long time to play out (years...decades?) it still offers a very nice long term potential and clear boundaries to trade within. Within this very large pattern we often see shorter timeframe patterns form that offer both long and short setups. This sets up a nice situation where you can have a long term core position, and then trade around that core position when shorter term setups present themselves, either long or short.
The next few key support and resistance levels I'll be looking to trade around is the $40 level and the $48 level. Beyond that and we'll be into all-time-high territory where I'll trade whatever price action happens to be at that point in time.
Options
Another nice thing about SLV is it gives us options (no pun intended). For a scenario where I'm long term bullish but I think price has rallied too far, too fast and it's looking a little frothy in the short term, rather than closing some of my spot position outright and risk missing out on further rallying another approach is to sell OTM (out-of-the-money) covered calls. Implied volatility would be elevated so you'd likely be getting paid a good premium, and if price does rally up to or beyond your strike price, then you can either choose to hold and let your shares potentially be called away or if your still bullish you can roll the options up and out (up in strike and out in time). You'll collect more premium and move your sell point to a higher price at the cost of taking on more time risk. There are exhaustive resources out there if you're unfamiliar but interested in this type of strategy.
DXY: Strong Bullish Bias! Buy!
Welcome to our daily DXY prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the upside. So we are locally bullish biased and the target for the long trade is 104.767
Wish you good luck in trading to you all!
TLT UpWhy am I still expecting TLT to rise?
Letβs start with the fundamental reasons.
After the election, when we focus on Trumpβs four main economic directions, itβs hard to think anything other than that weβre in for inflation growth, an increase in interest rates, and so on.
Specifically:
1. A 10-20% tariff on imported goods, and a sudden 60% on goods imported from China. This naturally points to price increases for goods, and weβve already seen this kind of policy back in 2016. However, in the past eight years, many geopolitical perceptions have changed, and the US position in the global market is substantially different from what it was eight years ago. Some restrictions on certain types of goods might be possible, but applying tariffs across all goods? - I donβt believe so.
2. Income tax reduction. What does this mean? Yes, itβs a realistic but very low-weighted plan. In line with populism, there will be a reduction in taxes, but it can hardly have a significant impact on the overall US budget deficit.
3. Deporting immigrants. To some extent, it will have a minimal effect on the labor market. Itβs important to note that immigrantsβ labor is not generally secured within the US labor market anyway, and itβs unlikely that US residents would have greatly expanded opportunities in their place.
4. Growth in energy production volumes. It would be redundant to write long paragraphs on how this will have a positive impact on prices.
These four points sum up the populist promises. In another reality, the US Federal Reserve is successfully battling inflation; abnormally high rates only harm issuers, while European spreads are reaching historical highs. After the 1980s, Bond Vigilantes might be set for a return, which would pose significant problems for US Treasuries.
Weβre waiting for the Fedβs press conference today.
#SOL/USDT / Ready to go up#SOL
The price is moving in a descending channel on the 30-minute frame and sticking to it well
We have a bounce from the lower limit of the descending channel, this support is at 185
We have a downtrend, the RSI indicator is about to break, which supports the rise
We have a trend to stabilize above the moving average 100
Entry price 187
First target 189
Second target 193
Third target 197
Not pulling back and ready to make a higher highYesterday I analyzed NOT entering in an uptrend. Today I see that there's a pullback and I could say that it's ready to make another higher high during the day. I'm at the 50% fibo level and a green bullish candle has just formed. I see a double bottom pattern in the 15 minute chart and the price just touched the 100 ema. Let's see what happens I already enter my position so I'll wait for other traders to see it the way I do. What do you think? React and I read your comments.
USD/ JPY ! 11/8 ! oversold , support , BUY nowUSDJPY trend forecast November 8, 2024
The Japanese Yen (JPY) struggles to gain traction on Friday, fluctuating with minor gains and losses against the US Dollar (USD) as the European session nears. Support for the JPY comes from recent comments by Japanese authorities, though concerns about the Bank of Japan's (BoJ) capacity for further rate hikes limit its upward momentum.
Meanwhile, optimism around Trumpβs growth and inflation policies largely overshadows the Fedβs dovish outlook, boosting US Treasury yields, which in turn weighs on the lower-yielding JPY. Additionally, renewed USD buying helps restrict any significant downside for the USD/JPY pair.
Trump as president with more strict foreign policies, mainly helps the dollar stronger. This will help USD/xxx currency pairs to increase in value.
/// BUY USD/JPY : zone 152.300 - 152.100
SL: 151.700
TP: 40 - 100 - 200 pips (154.100)
Safe and profitable trading
GBPJPY Market Structure Analysis on 15 Minute, 4 Hour Timeframe4H swing is bearish => Current is pullback dow
M15 swing is bearish => Current is pullback up
The main trend of the 4-hour timeframe is downtrend, the 15-minute timeframe is downtrend. Therefore, we look for a selling opportunity in the demand zone of the 15-minute timeframe.
EURUSD H1 | Bullish Reversal Based on the H1 chart analysis, we can see that the price is falling to our buy entry at 1.0753, which is a pullback support close to 50% Fibo retracement.
Our take profit will be at 1.0811, a multi-swing high resistance.
The stop loss will be placed at 1.0703, which is a pullback support level.
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ETH like a bullet train
Hey, traders! π
Ethereum is currently showing a strong upward movement, and there are some key levels and zones that could serve as interesting entry and exit points.
Key Points:
Elliott Wave Structure π
The chart indicates the completion of the 5th wave in the Elliott structure, signaling a potential end to the current impulse move.
Target Range $3000 - $3150 π―
Support at MA20-W Level π
The weekly MA20 confirms a strong support zone around $2740, a level where the asset may find support if a correction occurs.
Fibonacci Retracement Levels π
In case of a pullback, keep an eye on the 0.382, 0.5, and 0.618 levels, as they could offer potential retracement entry points.
Possible Scenarios:
If Ethereum reaches the target zone, we might see a subsequent downward move for a correction. The $2700 level could act as solid support, from where new long positions might be considered.
Shaka
COINBASE:ETHUSD BINANCE:ETHUSD BITSTAMP:ETHUSD BINANCE:ETHUSDT
$INJUSDT Analysis: Bullish Momentum Post-Election result!!BINANCE:INJUSDT has shown a strong bullish momentum after breaking out from a key trendline and undergoing a healthy correction to major support levels. Yesterday's sharp upward move, accompanied by significant volume, came in the wake of positive election results, fueling optimism in the market. With this newfound strength, we are anticipating that INJUSDT could soon challenge and potentially break its All-Time High (ATH).
As always, trade cautiously and use a small portion of your capital to manage risk effectively. The trend is favorable, but risk management is key.
Trade Safe, Stay Smart!
BINANCE:INJUSDT Currently trading at $20.8
Buy level: Above $20
Stop loss: Below $16
TP1: $23
TP2: $28
TP3: $33
TP4: $53
Max Leverage 3x
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EURUSD Daily Pivot Points AnalysisEURUSD Daily Pivot Points Analysis
Daily R3 - 1.0959
Daily R2 - 1.0892
Daily R1 - 1.0847
Daily Pivot Point - 1.0780
Daily S1 - 1.0735
Daily S2 - 1.0668
Daily S3 - 1.0624
β
Today's price stands at the Daily Pivot Point - 1.0780 without showing signs of bulls and bears.
πA move above the Daily Pivot Point - 1.0780 can push the price to Daily R1 - 1.0847 but I don't see the price rising further for today.
From the Daily R1 - 1.0847 the price can move down again to the Daily Pivot Point - 1.0780
πA move below the Daily Pivot Point - 1.0780 can push the price down to Daily S1 - 1.0735 but I don't see the price declining further for today.
From the Daily S1 - 1.0735 the price can move up again to the Daily Pivot Point - 1.0780
ββββββββββββββββββ- ββββββββββββββββββ-
A pivot point is an intraday technical indicator that's used to identify trends and reversals in equities, commodities, and forex markets.
Pivot points are calculated to determine levels in which the sentiment of the market could change from bullish to bearish and vice-versa.
ββββββββββββββββββ- ββββββββββββββββββ-
You may find more details in the chart!
Thank you and Good Luck!
β€οΈPS: Please support with a like or comment if you find this analysis useful for your trading dayβ€οΈ
Heading into overlap resistance?USD/CAD is rising towards the resistance level which is an overlap resistance that aligns with the 50% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 1.3893
Why we like it:
There is an overlap resistance level which aligns with the 50% Fibonacci retracement.
Stop loss: 1.3921
Why we like it:
There is a pullback resistance level that is slightly below the 78.6% Fibonacci retracement.
Take profit: 1.3850
Why we like it:
There is a pullback support.
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#NIFTY Intraday Support and Resistance Levels - 08/11/2024Slightly gap up opening expected in nifty. After opening if nifty starts trading above 24300 and sustain above this level then possible strong upside bullish rally upto 24550 level in today's session. Below 24250 expected negative side in index upto 24000 level.
NZDCAD Buy opportunity at the bottom of the 1-year Channel Up.The NZDCAD pair hit our 0.85650 Target as discussed on our last idea (August 22, see chart below) and then got immediately rejected:
The rejection initiated the Bearish Leg of the 1-year Channel Up and the price is approaching once more the bottom (Higher Lows trend-line) of the pattern. The previous 2 Higher Lows were priced on the 0.236 Fibonacci retracement level, which is slightly below, but the 1D MACD is forming a Bullish Cross today, which has been an absolute buy signal this past year.
As a result, we turn bullish on this pair, targeting Resistance 1 at 0.86450.
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EURUSD has a strong selling pressure - clear signs of discountThe EUR/USD pair dropped to nearly 1,0780 in the context of the demand for US dollars increased again on Friday during Asian trading hours. In addition, the proposal to increase tax by Donald Trump put pressure on Euro compared to the US dollar.
Ben personally predicts that, without unexpected breakthroughs, EURUSD will likely turn to an important support area of ββ1,0720 - 1,0740. In addition, technical indicators are not very satisfactory when the EMA 34 and EMA 89 are creating additional resistance right above the current price, increasing the pressure to decrease for Eurusd. With this situation, the market is more likely to have an EURUSD will have a deeper decline.