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Gold Traders Alert: Crucial Levels to Watch for the Next Trade!Key Components: Chart Type and Pair: The chart is a 1-hour (1H) timeframe for the Gold Spot/U.S. Dollar (XAU/USD) pair. Support and Resistance Levels: Horizontal Resistance Line at $2,446.18: This is labeled as "1HR LQZ" (1-hour liquidity zone), indicating a significant resistance level where price might face selling pressure. Horizontal Support Line at $2,347.82: Also labeled as "1HR LQZ," indicating a significant support level where the price might find buying interest. Trend Lines: There are descending yellow trend lines drawn, indicating a downtrend. The lower yellow trend line has a label suggesting a "Potential 3rd Touch," which typically indicates a possible point for a bounce or reversal. Price Action: The recent price action shows a lower high (LH) formation near $2,446.18, suggesting a downtrend continuation. Two potential scenarios are sketched on the right side of the chart with different colored lines (orange and green) depicting possible future price movements. Analysis: Current Trend: The overall trend appears to be bearish due to the formation of lower highs (LH) and lower lows (LL). Support and Resistance: The price is currently trading between two significant levels ($2,446.18 and $2,347.82). Breaking either level with strong momentum could indicate the next directional move. The price nearing the lower yellow trend line for a potential third touch suggests a possible bounce. If the price respects this trend line, it could indicate a temporary support. Potential Scenarios: Bullish Scenario (Green Path): If the price finds support at the lower yellow trend line and the horizontal support at $2,347.82, it might bounce back towards $2,446.18. Breaking above this level could lead to a further rise. Bearish Scenario (Orange Path): If the price fails to hold the support at the yellow trend line and $2,347.82, it might continue to fall. A break below this support level could lead to further declines, targeting lower support levels not shown in the chart.
OANDA:XAUUSD
by Adlercon333
API3 - Will it retrace ?#API3/USDT #Analysis Description --------------------------------------------------------------- + Price had significant retracement from 4.8 to 1.08 with -76% crash from recent high + it is trading around the local support zone and we are seeing significant retrace from the crash. + If this support holds then we can expect a sharp bounce back from the support zone. --------------------------------------------------------------- VectorAlgo Trade Details ------------------------------ Entry Price: 1.415620298 Stop Loss: 1.009165284 ------------------------------ Target 1: 1.7841 Target 2: 2.3682 Target 3: 3.3682 Target 4: 4.9078 Target 5: 9.1698 ------------------------------ Timeframe: 1W Capital Risk: 1-2% of trading amount Leverage: 5-10x --------------------------------------------------------------- Enhance, Trade, Grow --------------------------------------------------------------- Feel free to share your thoughts and insights. Don't forget to like and follow us for more trading ideas and discussions. Best Regards, VectorAlgo
CRYPTO:API3USDLong
by VectorAlgo
Bitcoin's Candle Close Today Is Significant - Here's Why.Traders, Just want to take a minute to focus on two items from my chart. First, you will notice that yesterday we dropped from our bull flag and nearly re-tested my 48,415 neckline from that inverse head and shoulders pattern we have been tracking. I had stated in yesterday's video that I assumed we would re-test the neckline much sooner and that since we didn't re-test earlier that maybe the bull channel would hold price up and inside of it until the bulls gained enough momentum to break to the upside. So far, the bull channel has held. The wicks poking down and through the bottom side of the channel aren't as significant as a body close below the channel. But yesterday's wick down can pass as a re-test of the neckline, though a body touch and close would be most positive. At any rate, you can see that the market is conflicted at the moment. The body of yesterday's candle closed slightly below the bottom of our channel, indicating that the market was ready to sell down further on any whisper of FUD. And today's body thus far is just slightly above the bottom of our channel though the candle formation itself is bearish. All this indicates at the moment that further selling remains a priority for the market pending news. Unless there is positive news and a strong close on today's candle back inside of our channel, we can expect that there will be more selling to come. On the other hand, a strong bullish move to the upside today and close inside of our channel may indicate that buyers are ready. However, make no mistake, the move must be strong and the candle close must give us another percent or two. Watch closely.
INDEX:BTCUSD
by stewdamus
Cup & Handle Forming!! - GUHere I have GBP/USD on the 1 Hr chart! Price dipped down into the Support Zone that was recently used in the beginning of July making its Low @ 1.2707! Afterwards, price came right back up to make an Equal High @ 1.28404 forming quite a popular Reversal Pattern, the Cup & Handle!! Now this PA formed the "Bowl" and after the Equal High, using the Fib Retracement Tool, we can see Price made a 61.8% Retracement beginning the formation of the "Handle"! This Higher Low tells us that if this Fib Retracement holds, we could be seeing the end of this Downtrend and the beginning of an Uptrend to the Potential Range Target of 1.29992 - 1.30502! - Bullish Divergence @ Support - Violation of Structure from LL to HL - RSI ABOVE 50
Long
by Novi_Fibonacci
4
Gold at a Crossroad: Breakout or Breakdown? Key Levels to Watch!Chart Overview Timeframe: 1-hour chart Exchange: OANDA Current Price: 2444.100 Key Levels and Zones 4HR LQZ: 2474.524 1HR LQZ: 2370.122 Support Level: 2348.660 Key Low: 2287.754 Patterns and Channels Descending Channel: The price moved within a descending channel before breaking out. Lower Highs (LH) and Lower Lows (LL) formed within this channel. Ascending Channel: The price moved into an ascending channel after breaking out of the descending channel. Higher Lows (HL) and Higher Highs (HH) are visible, indicating a potential upward trend. Current Price Action Recent Higher High (HH): Price reached a higher high at the top of the ascending channel. Potential Lower High: There is a possibility of forming a new lower high, as indicated by the recent price action near the 4HR LQZ. Rejection at 4HR LQZ: The price touched the 4HR LQZ and showed signs of rejection, pulling back slightly. Inset Chart: DXY The inset chart displays the DXY (US Dollar Index), which shows a descending pattern, potentially indicating USD weakness. This is relevant because gold often inversely correlates with the USD. Market Sentiment Bullish Signs: The breakout from the descending channel. Formation of the ascending channel with higher highs and higher lows. Bearish Signs: Rejection at the 4HR LQZ. Potential formation of a new lower high, indicating possible weakness or a reversal in the uptrend. Summary The XAUUSD chart shows a recent breakout from a descending channel and the formation of an ascending channel, suggesting a short-term bullish trend. However, the price faced rejection at the 4HR LQZ and is showing signs of forming a potential new lower high, which could indicate a reversal or consolidation phase. Monitoring key levels and market sentiment (especially USD movements) will be crucial for future price action.
OANDA:XAUUSD
by Adlercon333
Gold Faces Critical Resistance: Will the Bull Run Continue?Chart Overview Timeframe: 1-hour chart Exchange: OANDA Current Price: 2444.100 Key Levels and Zones 4HR LQZ: 2474.524 1HR LQZ: 2370.122 Support Level: 2348.660 Key Low: 2287.754 Patterns and Channels Descending Channel: The price moved within a descending channel before breaking out. Lower Highs (LH) and Lower Lows (LL) formed within this channel. Ascending Channel: The price moved into an ascending channel after breaking out of the descending channel. Higher Lows (HL) and Higher Highs (HH) are visible, indicating a potential upward trend. Current Price Action Recent Higher High (HH): Price reached a higher high at the top of the ascending channel. Potential Lower High: There is a possibility of forming a new lower high, as indicated by the recent price action near the 4HR LQZ. Rejection at 4HR LQZ: The price touched the 4HR LQZ and showed signs of rejection, pulling back slightly. Inset Chart: DXY The inset chart displays the DXY (US Dollar Index), which shows a descending pattern, potentially indicating USD weakness. This is relevant because gold often inversely correlates with the USD. Market Sentiment Bullish Signs: The breakout from the descending channel. Formation of the ascending channel with higher highs and higher lows. Bearish Signs: Rejection at the 4HR LQZ. Potential formation of a new lower high, indicating possible weakness or a reversal in the uptrend. Summary The XAUUSD chart shows a recent breakout from a descending channel and the formation of an ascending channel, suggesting a short-term bullish trend. However, the price faced rejection at the 4HR LQZ and is showing signs of forming a potential new lower high, which could indicate a reversal or consolidation phase. Monitoring key levels and market sentiment (especially USD movements) will be crucial for future price action.
OANDA:XAUUSD
by Adlercon333
Where is the Dollar heading next ?• Dollar has been showing weakness in recent weeks as markets are expecting the FED to deliver its first rate cut in September. • The index fell from levels near 106 to 103.60 and then corrected to 104.90 (50% Fibonacci retracement). • If the jobs report tomorrow shows additional weakness, the Dollar should face selling pressure and break the previous support at 103.60 potentially down to 102.41. • Breakouts are occasionally re-tested. Therefore, the index could potentially breakdown to 102.41, re-test 103.60 and then make another leg lower and so on. • Same principle applies for upward breakouts, which should be the case if the jobs report points to increasing wages and tight labor market.
TVC:DXY
by RamziAbouAbdallah-CMT
Gold's Next Explosive Move: Is a Massive Surge or Dramatic Drop?Major Support / Resistance Zone: This zone is marked clearly on the chart and acts as a significant level where price has previously reversed or consolidated. It's crucial to monitor how price reacts around this area. Wave Analysis: The chart shows a clear Elliott Wave structure, with a 5-wave pattern identified. Waves (1) to (5) represent the motive waves, and the correction waves are seen in between. Bearish Flag #1 and #2: These flags indicate periods of consolidation following a downward movement, suggesting potential for continuation to the downside. They are often characterized by lower highs and lower lows forming within a channel. Descending Channel: The descending channel provides a clear bearish structure, with price making lower highs and lower lows. This channel acts as a guide for potential price movement, indicating bearish sentiment as long as the price remains within this structure. Daily Bull Flag: This larger bullish flag formation suggests a longer-term bullish potential if price breaks above the flag's upper boundary. It's a key pattern to watch for potential upside. 1HR LQZ / Reversal Zone: This liquidity zone (LQZ) is marked as an area where a significant amount of orders might be present, potentially leading to reversals or significant price reactions. 4HR LQZ: Similar to the 1HR LQZ, but observed on the 4-hour timeframe, suggesting a more significant potential reversal or consolidation area. Bullish Potential: If the price breaks above the 1HR LQZ / Reversal Zone and the descending channel, there is a bullish potential up to the levels marked on the chart. The structure would need confirmation through higher highs and higher lows. Bearish Potential: If the price fails to break above the descending channel and instead moves below the 4HR LQZ, a bearish continuation is likely, potentially targeting lower support levels. Summary The chart indicates a potential for both bullish and bearish scenarios depending on how the price reacts to the identified key levels (major support/resistance zone, 1HR and 4HR LQZs, and the descending channel). Bullish scenario: Break above the 1HR LQZ and the descending channel, leading to a continuation towards higher levels. Bearish scenario: Failure to break above the descending channel and a move below the 4HR LQZ, indicating a continuation to the downside. This analysis should help in making informed trading decisions based on the observed technical patterns and key levels.
OANDA:XAUUSDLong
by Adlercon333
4
XAUUSD Poised for a Massive Breakout: Are You Ready?Chart 1: 4-Hour Timeframe Trend Analysis: The chart shows a clear upward trend, forming higher highs and higher lows. A wedge pattern is visible with converging trend lines indicating a potential breakout scenario. Key Levels: Support: Around 2348.248 (4hr LQZ). Resistance: Approximately 2412.240. Major Resistance: The upper trendline around 2480. Recent Price Action: The price has recently tested the lower trendline support and is currently retracing upwards. A lower high (LH) has formed around 2480, suggesting a potential reversal or consolidation phase. Potential Scenarios: Bullish: If the price breaks above the 2412 resistance, it may retest the upper trendline around 2480. Bearish: A break below the 4hr LQZ at 2348.248 could signal further downside towards the daily LQZ at 2267.320. Chart 2: 1-Hour Timeframe Trend Analysis: A shorter-term view confirming the upward trend with higher highs and higher lows. The formation of a wedge pattern indicates consolidation within a narrowing price range. Key Levels: Support: Around 2348.248 (4hr LQZ). Resistance: Approximately 2412.240, coinciding with the previous chart. Recent Price Action: Price recently bounced off the 4hr LQZ support level and is now hovering near the 2412 resistance. The lower high (LH) indicates sellers are stepping in around the 2412 level. Potential Scenarios: Bullish: Breaking and closing above 2412 could lead to further upside towards 2480. Bearish: Rejection at 2412 and a break below recent lows could target the 4hr LQZ support at 2348.248. Chart 3: 15-Minute Timeframe Trend Analysis: Short-term consolidation observed within a wedge pattern. Recent price action indicates potential for a breakout or breakdown from this pattern. Key Levels: Support: Around 2348.248 (4hr LQZ). Resistance: Approximately 2412.240. Recent Price Action: Price is consolidating just below the 2412 resistance level, forming a wedge pattern. The 15-minute timeframe shows the price struggling to break above 2412. Potential Scenarios: Bullish: A breakout above the wedge and 2412 resistance could lead to a quick move towards 2480. Bearish: A breakdown from the wedge could revisit the 4hr LQZ support at 2348.248. Conclusion The overall trend across multiple timeframes remains bullish with key resistance at 2412 and significant support at 2348.248. A break above 2412 could signal further upside towards 2480, while a failure to break and sustain above this level may lead to consolidation or a pullback to the 4hr LQZ support. Monitoring price action around these key levels will provide insights into the next directional move.
OANDA:XAUUSD
by Adlercon333
Is Gold About to Surge or Drop? Handle XAUUSD's Next Big MoveChart 1: 15-Minute Timeframe Key Observations: Trendlines: The chart displays an ascending channel pattern. The upper and lower trendlines are drawn to capture the price action within this channel. Resistance Zone: There is a marked resistance zone around 2470-2480, where the price has faced rejection multiple times. Support Levels: Immediate Support: The lower trendline of the ascending channel acts as immediate support. LQZ/Reversal Point: At 2429.19, there is a significant level indicated, likely a liquidity zone or a potential reversal point from a higher timeframe. Chart 2: 1-Hour Timeframe Key Observations: Higher High (HH): The chart indicates a higher high formation at the recent peak, suggesting an uptrend. Possible Scenarios: Bullish Scenario: If the price breaks above the resistance zone around 2480 and holds, it could target higher levels around 2520 and potentially 2550. Bearish Scenario: If the price fails to break the resistance and instead breaks down from the ascending channel, it could move towards the LQZ/Reversal points at 2429.19 (1-hour) and 2391.39 (4-hour). Support Levels: 1-Hour LQZ/Reversal Point: At 2429.19, providing a potential support zone for a bullish reversal. 4-Hour LQZ/Reversal Point: At 2391.39, indicating a deeper support level from the 4-hour timeframe. Immediate Support: The lower trendline of the current ascending channel. Summary: Immediate Focus: Watch the price action around the resistance zone (2470-2480) for potential breakout or rejection. Bullish Confirmation: A breakout and retest above 2480 could signal a continuation towards higher targets. Bearish Confirmation: A breakdown from the ascending channel and below the immediate support levels could trigger a move towards the lower LQZ/Reversal points. Key Levels to Watch: Resistance: 2470-2480 Support: 2429.19 (1-hour LQZ), 2391.39 (4-hour LQZ)
OANDA:XAUUSD
by Adlercon333
Gold Price Set to Explode? Must-See Analysis Inside! [Update]Trade Update: XAUUSD Analysis Date: July 17, 2024 In our previous post and video, we discussed how to approach XAUUSD given the current market conditions. Let's dive into the latest developments and analyze the chart for further insights. Key Observations: Break Above HTF Trendline: We observed a significant break above the Higher Time Frame (HTF) trendline. This move indicates a strong bullish momentum, suggesting that buyers are in control. After the breakout, the price pushed back into the structure, which is a common retracement behavior. This retracement offers a potential entry point for those looking to capitalize on the upward momentum. Support Zone Tested on LTF: The price action tested a support zone on the Lower Time Frame (LTF). This support zone held well, providing a solid foundation for the next leg up. This test reinforces the strength of the support level and can be seen as a bullish signal. Current Market Conditions: Currently, XAUUSD is displaying a textbook play back into an area where we might see signs of either reversal or continuation. Traders should watch for key signals at this level to determine the next move. A strong bullish reaction could indicate continuation, while a bearish signal might suggest a potential reversal. Liquidity Zones and Reversal Points: The chart highlights two significant liquidity zones (LQZ) and potential reversal points: 1HR LQZ/Reversal at 2429.940 4HR LQZ/Reversal at 2391.394 These zones are critical levels to monitor as they can provide valuable insights into market sentiment and potential turning points. Conclusion: As the price approaches these key levels, traders should remain vigilant for confirmation signals. If the price respects the support zone and breaks higher, it could provide a good opportunity for a long position. Conversely, if the price shows signs of weakness, it might be prudent to consider short positions or wait for further confirmation before making a move. Stay Updated: We will continue to monitor the price action closely and provide updates as the situation evolves.
OANDA:XAUUSD
by Adlercon333
3
Gold at Record Highs! Breakout or Imminent Reversal?4-Hour Time Frame Analysis: Higher Highs (HH) and Higher Lows (HL): The chart displays a clear upward trend with higher highs and higher lows. This indicates a bullish market structure. Ascending Channel: The price is moving within an ascending channel, showing a steady increase in value. Key Levels: 1-Hour LQZ / Reversal: 2429.940 4-Hour LQZ / Reversal Point: 2391.394 Potential Take Profit (TP) Levels: TP 1: 2319.385 TP 2: 2288.085 TP 3: 2267.832 Current Price Action: The price has reached the upper boundary of the ascending channel, suggesting a potential reversal or breakout. Traders should watch for confirmation before taking action. 1-Hour Time Frame Analysis: Higher High (HH): Similar to the 4-hour chart, the 1-hour chart also shows a higher high, indicating a bullish trend continuation. Ascending Channel: The price is respecting the ascending channel, reinforcing the bullish sentiment. Key Levels: 1-Hour LQZ / Reversal: 2429.940 4-Hour LQZ / Reversal Point: 2391.394 Current Price Action: The price is at the top of the ascending channel. Traders should look for signs of a reversal or a breakout above this level to gauge further price movements. 15-Minute Time Frame Analysis: Ascending Channel: The 15-minute chart shows a detailed view of the ascending channel with the price closely following this structure. Key Levels: 1-Hour LQZ / Reversal: 2429.940 4-Hour LQZ / Reversal Point: 2391.394 Current Price Action: The price is currently at the top of the channel, suggesting a potential short-term reversal or continuation depending on the breakout direction. Summary: Bullish Trend: All three time frames show a clear bullish trend with higher highs and higher lows. Ascending Channel: The price is moving within an ascending channel on all time frames, which supports the bullish outlook. Key Reversal Zones: Pay attention to the 1-hour and 4-hour LQZ / Reversal points at 2429.940 and 2391.394 respectively. Potential Reversal: The price is currently at the upper boundary of the ascending channel on all time frames. This indicates a potential reversal if the price fails to break out. Traders should wait for confirmation before entering trades..
OANDA:XAUUSD
by Adlercon333
Gold Hits Record Highs! Skyrocket Further or Sharp Reversal?4-Hour Time Frame Analysis: Higher Highs (HH) and Higher Lows (HL): The chart displays a clear upward trend with higher highs and higher lows. This indicates a bullish market structure. Ascending Channel: The price is moving within an ascending channel, showing a steady increase in value. Key Levels: 1-Hour LQZ / Reversal: 2429.940 4-Hour LQZ / Reversal Point: 2391.394 Potential Take Profit (TP) Levels: TP 1: 2319.385 TP 2: 2288.085 TP 3: 2267.832 Current Price Action: The price has reached the upper boundary of the ascending channel, suggesting a potential reversal or breakout. Traders should watch for confirmation before taking action. 1-Hour Time Frame Analysis: Higher High (HH): Similar to the 4-hour chart, the 1-hour chart also shows a higher high, indicating a bullish trend continuation. Ascending Channel: The price is respecting the ascending channel, reinforcing the bullish sentiment. Key Levels: 1-Hour LQZ / Reversal: 2429.940 4-Hour LQZ / Reversal Point: 2391.394 Current Price Action: The price is at the top of the ascending channel. Traders should look for signs of a reversal or a breakout above this level to gauge further price movements. 15-Minute Time Frame Analysis: Ascending Channel: The 15-minute chart shows a detailed view of the ascending channel with the price closely following this structure. Key Levels: 1-Hour LQZ / Reversal: 2429.940 4-Hour LQZ / Reversal Point: 2391.394 Current Price Action: The price is currently at the top of the channel, suggesting a potential short-term reversal or continuation depending on the breakout direction. Summary: Bullish Trend: All three time frames show a clear bullish trend with higher highs and higher lows. Ascending Channel: The price is moving within an ascending channel on all time frames, which supports the bullish outlook. Key Reversal Zones: Pay attention to the 1-hour and 4-hour LQZ / Reversal points at 2429.940 and 2391.394 respectively. Potential Reversal: The price is currently at the upper boundary of the ascending channel on all time frames. This indicates a potential reversal if the price fails to break out. Traders should wait for confirmation before entering trades..
OANDA:XAUUSD
by Adlercon333
29
Gold Breaks 4HR Liquidity Zone: Reversal or Continuation?We provided a really clear outlook on XAU/USD yesterday evening at the start of Asia Session to look for a move to the top side or a possible start to reversal depending on reaction to the support zone being offered. Today we have a BEAUTIFUL 4HR LQZ being shown in this chart that we are currently participating inside of. Will price reverse after hitting our TP or Do we continue to follow the trend that is being given. CORE LESSON: When gold is in areas of unknown price that you have never traded before the TREND is your friend. You can find yourself wanting the market to do something because it fits your BIAS and plan better but the market is the wild west and it doesn't have to do anything you want. You anticipate and don't get caught on the side of just reacting to price. Yesterday evening at the start of the Asia Session, we provided a crystal-clear outlook on XAU/USD. We were looking for a move to the upside or the potential beginning of a reversal, depending on the reaction to the support zone. Today, we are witnessing a BEAUTIFUL 4HR LQZ on this chart, and we are currently trading within it. The big question now is: will the price reverse after hitting our TP, or will it continue to follow the existing trend? CORE LESSON: When gold trades in uncharted territory, the trend is your friend. It's easy to develop a bias and want the market to fit your plan, but remember, the market is like the wild west—it doesn’t have to do what you want. Stay ahead by anticipating market moves and avoid getting caught reacting to price action. ADDITIONAL INSIGHTS: Understanding market psychology is crucial in these scenarios. Traders often get trapped in emotional decisions, influenced by fear and greed. Maintain discipline and stick to your trading plan. Watch for key levels and patterns that can indicate potential reversals or continuations. Utilize proper risk management strategies to protect your capital. Setting stop-loss orders and taking profits at predefined levels can help mitigate risks and secure gains. Always be prepared for multiple scenarios and adjust your strategies accordingly. Remember, successful trading is about adapting to market conditions and making informed decisions based on thorough analysis. Stay patient, stay focused, and keep learning from each trade to improve your skills and outcomes.
OANDA:XAUUSD
by Adlercon333