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GOLD: Bullish - FLAG detected + Breakout of the range.GOLD: Bullish - FLAG detected + Breakout of the range. 1- A "Head Shoulders" has been detected and we did a perfect Take profit ( TP1) at 2 395$. 2- When we break a range the Take profit should be the Height of the range. Then the TP2 is expected around 2 518$. 3- Plus we can also consider that the range is like a flag and then the TP3 ( green arrow) is expevted around 3 030$ The red horizontals are retracements regarding ICHIMOKU levels . However a retracement Fibonacci gives a target lower around 2 100$. Be careful
OANDA:XAUUSDLong
by Le-Loup-de-Zurich
XAUUSD 01/09/24Coming into this week on gold, we have a clear consolidation at the last major high. This suggests there is a significant amount of liquidity built above this high. We also saw a drop towards the end of last week, indicating that a sell-off may occur in the first sessions of this week. This is based on the principle that liquidity was starting to be taken, making a sell-off at the open more likely as buyers step in. This could lead to price action moving lower before rising back into the highs, ultimately targeting the liquid highs we have marked. Please note the two areas of liquidity below and the two areas we’ve marked. These are the points where we are watching for price action to turn bullish, but we are primarily focused on a slight pullback before going long. Also, take note that the liquid low and overall trajectory of price action have changed, so a pullback seems logical in this scenario. Aim for the high and expect a new all-time high to be formed on gold. If we break down through the lows and do not see a positive reaction, I will look to go short in the new downward trend. However, this will be short-term, as our long-term bias remains bullish. Therefore, I will be more focused on finding a long position and holding onto any shorts. Trade your plan and always stick to your risk management. Trade your plan and always stick to your risk.
OANDA:XAUUSD
by PipSurfingSociety
Bitcoin can little fall and then continue grow to 64700 pointsHello traders, I want share with you my opinion about Bitcoin. Observing the chart, we can see that the price some time ago declined to the resistance level, which coincided with the seller zone. After this price started to grow and soon rose from the seller zone to 70100 points, but at once turned around and started to decline inside the pennant. Inside the pennant, BTC broke the 64700 level and fell to the support level, which coincided with the buyer zone and also soon broke this level too. Next, the price reached the support line of the pennant and at once rebounded and in a short time rose to the resistance line of the pennant, breaking the 56600 level one more time. Later, BTC exited from the pennant and started to trades in range, where it rose a little more and then made a correction movement until to bottom part, which coincided with the support level. After this movement, Bitcoin rebounded and rose to the top part, after which some time traded near and a not long time ago dropped to 58000 points. Then it started to grow, and I think BTC can decline a little and then continue to move up. For this case, I set my TP at a 64700 resistance level, which coincided with the top part of the range. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
5
GOLD → Consolidation in a bull market. Will we reach 2550?FX:XAUUSD is moving into a consolidation phase amid a strong bullish trend as buyers are waiting for catalysts for a new upswing. Buyers are still serious, and Central Banks of major economies continue to actively buy the metal. Fears of a wider Middle East conflict, have eased, at the same time the US Dollar paused its overnight recovery. The corresponding reaction - flat, we observe on the chart of gold. Further price direction appears to be northward, as it remains supported by the Fed's dovish sentiment on monetary policy and looming geopolitical risks in the Middle East. In addition, hopes of improved physical gold demand from India and China are likely to limit the decline in the gold price. Resistance levels: 2517, 2531 Support levels: 2501, 2493, 2477 Technically, since the price is in a range and tested the resistance area earlier, the MM has a liquidity target at the bottom. Consequently, gold may test support (false breakdown) before heading towards resistance again. Emphasis on the channel boundary, 2501, 2493, 2477. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
14
ETHEREUM → Readiness for realization ↑ Target 3300 BINANCE:ETHUSD ETH is consolidating in front of strong resistance. Bulls do not let the price down beyond 0.5 fibo. amid Friday's news, the cryptocurrency market is reviving and ETH has high chances to pass through 2800. A false breakout of the resistance of the range is formed, but instead of falling, the coin is consolidating, which is generally one of the pre-breakout nuances. Technically, it would be an ideal condition for me to wait for a prolonged consolidation near 2780-2800 followed by a price advance towards the zone with a breakout target. The liquidation that took place earlier rid the market of an unnecessary part of speculators, after which the whales went into an active accumulation phase, now ETH shows positive preconditions of readiness to go to the intermediate high and resistance of the global range. Support levels: 2717, 0.5 fibo Resistance levels: 2780, 2817 The market is bullish, as evidenced by some indicators, technical indicators on the chart, as well as the fundamental background. Accordingly, in the mid-term I expect the price to come out of the consolidation 2780 - 2550 and most likely this exit will be accompanied by a breakout of resistance and growth to 3300. Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:ETHUSD ;) Regards R. Linda!
Long
by RLinda
19
Euro can drop to 1.1100 points, thereby exiting from wedgeHello traders, I want share with you my opinion about Euro. Observing the chart, we can see that the price a few moments ago entered to range and dropped from the support level, which coincided with the support area to the buyer zone. When the EUR fell to this area, it some time traded very close to the bottom part of the range and later rebounded up to the support level. Also, inside the range, the price formed three gaps, and on the third gap, the Euro exited from range, entered to wedge, and dropped to support line of this pattern. Later price turned around and started to grow, after which in a short time rose higher than the 1.0900 level, breaking it finally and then made a retest. After this price rebounded from the support line of the wedge and rose to the resistance line, but a not long time ago EUR rolled down from this line. At the moment, I think that the price can rise almost to the resistance line of the wedge and then drop, thereby exiting from the wedge. For this case, I set my TP at 1.1100 points. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
AUDUSD - Strong Rejection Ahead!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 AUDUSD has been hovering within a big range in the shape of a symmetrical triangle marked in blue. Currently, AUDUSD is rejecting the upper bound of the triangle. Moreover, the zone marked in green is a massive supply zone. 🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the supply zone and upper blue trendline acting as non-horizontal resistance. 📚 As per my trading style: As #AUDUSD is around the red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
1
BTCUSDT Active Range BreakoutThis is an active range breakout on BTCUSDT that i'm going to be trading. It may not work, but with higher TP then SL you can afford to have a lower percentage of profitable trades as the wins well outweigh the losses. As you can see the range has been broken with HIGH VOLUME CANDLES. This is what we were waiting for, not like the first break of range that didn't have the BIG CANDLE moves i'm looking for. I'm looking to TAKE PROFIT at the next large key RESISTANCE ZONE. It is a very large percentage so it's probability of hitting is low, but the potential reward far outweighs the risk. I can RISK MANAGE in several ways. I can move the STOP LOSS TO PROFIT once the trade has good gain to safely lock in. I can use MULTI TAKE PROFITS, to take profit several times before taking 100% of TRADE CAPITAL. What I like to do is use 25% of my portfolio but use higher leverage, so i effectively trade the same amount as 100% my portfolio whilst having 75% free to take OTHER TRADES. If you do this WATCH YOUR LIQUIDATION PRICE.
Long
by I3ig_Trades
BNX → The coin is stronger than the market. Bullish trendBINANCE:BNXUSDT looks quite strong relative to the entire cryptocurrency market, maintaining an already strong bullish trend. The price is forming a range and it is worth paying attention to its boundaries... The situation is complicated by panic, bitcoin is unstable and thus creates unnecessary volatility in the whole market. The ideal outcome would be to stop the market and reduce volatility or consolidate so that action can be taken. But in fact BNX looks stronger than the market and this is worth taking into consideration. The focus is on the strong 1.4252 - 1.2800 range. Because of the challenging technical environment, two scenarios are worth considering (but I like the resistance breakout the best) If the bulls hold 1.2800 and start gradually approaching 1.4252, we should expect a breakout with further upside to 1.75 range resistance or even higher in the long term. Support levels: 1.28, 1.1618 Resistance levels: 1.4252, 1.5161 However, if the bulls fail to hold 1.28 and the price breaks the support on the background of high market volatility, it may test 1.1618 - 1.0399 once again before further growth, as the uptrend is still in place Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:BNXUSDT.P ;) Regards R. Linda!
Long
by RLinda
2
Euro can rebound up from buyer zone to 1.1190 pointsHello traders, I want share with you my opinion about Looking at the chart, we can see how the price hit the support level, broke through it, but then quickly turned around and dropped to the lower part of the range. After that, the EUR reversed and bounced back up to the 1.0960 level, broke it again, exiting the range, and then climbed to the resistance line. The price then reversed and made a correction move to the support line, after which it started to rise near this line to the current support level. When the Euro reached this level, it broke through and kept rising until it hit the resistance line, but not long ago it turned around and made a correction move to the buyer zone. Right now, the price is trading near this zone, and I think the EUR might drop to the buyer zone before rebounding up. So, that's why I set my TP at 1.1190 points. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
5
GBPUSD → False breakout of the range boundary FX:GBPUSD is testing wide range resistance in the distribution phase against the backdrop of the falling dollar. The market spent energy on strong growth and there is little chance of a breakout of 1.305, a correction or consolidation may follow. GBPUSD strengthens the bullish trend, but on its way meets strong resistance - the border of the range. Within the range, the price may form a correction to the nearest liquidity zones, such as 1.297, 1.294 or 0.5 fibo. Fundamentally, the dollar is declining amid the dovish stance of the Fed. The focus is on Friday's speech of Powell. The official's strong hints may intensify currency movements and volatility in the market. Support levels: 1.297, 1.294, 1.292 Resistance levels: 1.3044 Technically, a reversal follows after a strong rise and a false breakdown. The range boundaries are still in place and continue to hold the price Regards R. Linda!
Short
by RLinda
4
BTCUSDT.P Range Preparing For BreakoutBased on technical analysis of the candlestick charts, I believe that BTCUSDT is in a range period, where it's continued to fluctuate around 56-62K for weeks. It's accumulating liquidity to produce a large breakout move. The key to mastering this move is watching and waiting to see big volume candles either breaking out of support or resistance, then tailoring your entry based on the outcome of the move. It is definitely NOT advisable to trade during this range, always look for a big volume candle('s) before entering any trade, otherwise you're entering in the dark. ALWAYS HAVE AN EXIT PLAN before you enter a trade, whether it's a SL or another tactic, risk management is super important.
by I3ig_Trades
4
Dollar could be trapped within huge consolidationMarket corrections are tricky and in this post you can see why. Dollar index weekly chart shows signs of large sideways consolidation (aka flat correction, range) after a strong drop marked with the orange down arrow 1. This consolidation passed halfway as we can see all first moves are completed. The first major yellow counter-move is done; it will be connected with the last yellow upmove through two white and two red counter-moves. Why corrections are tricky? Because they last longer than many think, usually longer than the preceding move. Currently, first legs took the same time as the whole first orange leg down, therefore it will take almost same amount of time furthermore. After completion, the second orange leg down could resume to hit $93 (orange leg 1 = orange leg 2) or even lower to retest the valley of Y2021 at 89.6
TVC:DXY
by aibek
Bitcoin can rebound up from support line of pennant to 65K pointHello traders, I want share with you my opinion about Bitcoin. Looking at the chart, we can see how the price some time ago entered to range, where it at once reached a resistance level, which coincided with the seller zone and then rebounded down to the bottom part of range. After this movement, the price in a short time rose until to top part of the range, but soon turned around and started to decline inside the downward pennant. Later BTC quickly declined until to support level, which coincided with the buyer zone, thereby breaking the 68500 level and also exiting from range. Soon, the price broke the 57500 level too and dropped to the support line of the pennant, after which at once made a strong impulse up. After this movement, BTC broke the support level one more time and some time traded near this level. Next, it reached the resistance line of the pennant pattern, but not a long time ago fell back. At the moment, it trades near the support line of the pennant and I think that the price can make a small movement up first and then correct to the support line again. Next, Bitcoin will rebound up from this line, exit from the pennant, and continue to grow, therefore I set my TP at 65000 points. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
3
Gold can rebound from seller zone and continue to fall in rangeHello traders, I want share with you my opinion about Gold. Looking at the chart, we can see how the price a few moments ago reached the support level, which coincided with the support area and also entered to wedge, where at once rebounded from the resistance line to the support line. After this movement, the price started to grow from the support line and soon reached the resistance line of the wedge pattern again, but then it fell back. Then price broke one more time at the 2360 level and exited from the wedge, after which started to trades inside the range. In the range, gold quickly rose to the top part, which coincided with the resistance level and seller zone. Price even entered to this area, but at once turned around and dropped to the 2360 level, after which repeated movement up to the seller zone. Next, XAU turned around again and fell almost to support level, after which in a short time backed up, but a not long time ago rolled down from the seller zone. So, in my opinion, Gold can enter to seller zone one more time and then continue to decline inside range. For this reason, I set my TP at 2400 points. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDShort
by LegionQ8
2