GBPCHF: Important Breakout 🇬🇧🇨🇭
GBPCHF broke and closed below a key daily support.
Retesting the broken structure, the price formed a narrow range on a 4H time frame.
London session opening pushed the prices lower.
The pair broke a support line of the range, leaving a strong bearish clue.
I think that the market may keep falling.
Next support - 1.1224
❤️Please, support my work with like, thank you!❤️
Rectangle
DMart: Ready for new Highs with Bullish StructureClassical inverted H&S Pattern Structure can be seen in this script.
Following points can be considered here before taking any decision:
1. over all Trend is uptrend.
2. Pattern: Bullish IH&S(After healthy Consolidation) Or Inside bar or multiple Resistance BO or Cup and Handle
3. Good Fundamentals
4. over all market structure is also bullish.
DISC: For educational Purposes only. Please consult your financial advisor before taking any position.
Coeur Mining Inc. (CDE) - Bullish Rectangle Continuation PatternAnalysis:
Chart Pattern:
Coeur Mining Inc. (CDE) is currently forming a Bullish Rectangle Continuation pattern, indicating potential for an upward breakout.
Support and Resistance: The stock is consolidating between defined support and resistance levels.
Breakout Potential: A breakout above the resistance level could lead to a significant upward movement.
Target Price: The target price can be estimated based on the height of the rectangle.
Stop-Loss: Set a stop-loss just below the support level to manage risk.
Fundamental Overview:
Revenue (TTM): $846.97M
Net Income: -$108.14M
Total Debt: $593.83M
Current Ratio: 1.00
Conclusion:
The Bullish Rectangle Continuation pattern suggests a potential upward breakout, making Coeur Mining Inc. a promising candidate for short-term gains. However, investors should consider the company's current financial challenges and set appropriate risk management measures.
Investment Note:
Trading stocks inherently involves risks. Carefully consider your financial situation and investment goals before making decisions.
GOLD (XAUUSD): Your Trading Plan For Next Week Explained
This Friday, Gold turned very bullish and reached a strong daily resistance.
The underlined red resistance is the upper boundary of a narrow horizontal trading range on a daily.
Next week, look for a breakout of the resistance of the range.
A daily candle close above 2342 will be our strong bullish confirmation.
A bullish continuation will most likely follow then.
Next resistance will be 2736
❤️Please, support my work with like, thank you!❤️
GOLD (XAUUSD): Main Focus is ...
As I predicted yesterday, we got a nice intraday bearish movement on Gold.
Analyzing the price action on a daily time frame today,
I spotted that the market is currently consolidating.
We can see a narrow horizontal trading range.
Those who are looking to buy the market should wait for a breakout
of the resistance of the range.
A daily candle close above 2342 will be our strong bullish confirmation.
A bullish continuation will most likely follow then.
Next resistance will be 2736
❤️Please, support my work with like, thank you!❤️
Legal & General new directionAfter creating a rectangle since Jan 2024, Legal and General has broken to the downside after lacklustre targets issued yesterday. Price is falling below 231 support.
Since March 2013, L&G has gone nowhere and it looks like it could eventually hit 161, if the stock market reverts to a downtrend or business is below expectations.
VBL - 4 months RECTANGLE══════════════════════════════
Since 2014, my markets approach is to spot
trading opportunities based solely on the
development of
CLASSICAL CHART PATTERNS
🤝Let’s learn and grow together 🤝
══════════════════════════════
Hello Traders ✌
After a careful consideration I came to the conclusion that:
- it is crucial to be quick in alerting you with all the opportunities I spot and often I don't post a good pattern because I don't have the opportunity to write down a proper didactical comment;
- since my parameters to identify a Classical Pattern and its scenario are very well defined, many of my comments were and would be redundant;
- the information that I think is important is very simple and can easily be understood just by looking at charts;
For these reasons and hoping to give you a better help, I decided to write comments only when something very specific or interesting shows up, otherwise all the information is shown on the chart.
Thank you all for your support
🔎🔎🔎 ALWAYS REMEMBER
"A pattern IS NOT a Pattern until the breakout is completed. Before that moment it is just a bunch of colorful candlesticks on a chart of your watchlist"
═════════════════════════════
⚠ DISCLAIMER ⚠
The content is The Art Of Charting's personal opinion and it is posted purely for educational purpose and therefore it must not be taken as a direct or indirect investing recommendations or advices. Any action taken upon these information is at your own risk.
AUDCAD: Important Bullish BreakoutThe AUDCAD is currently in a robust uptrend on a daily basis. For the past few weeks, the pair has been trading within a sideways range on a 4-hour chart.
Following the yesterday's US fundamentals, the price broke above the range's resistance, showcasing the dominance of buyers and suggesting a likely continuation of the bullish momentum.
The next level of resistance to watch is at 0.9203.a highly probable bullish continuation.
Next resistance - 0.9203
NZDJPY: Time to Buy 🇳🇿🇯🇵
NZDJPY broke and closed above a key daily structure resistance.
After a breakout, the market started to consolidate within a narrow range on a 4h time frame.
A retest of a broken structure triggered an impulsive bullish movement
and a violation of a resistance of the range.
It gives us a strong bullish confirmation.
I think that the pair will reach 97.5 level soon.
❤️Please, support my work with like, thank you!❤️
AUDCAD May Keep Going Higher 🇦🇺🇨🇦
AUDCAD set a new higher high higher close on a daily,
after a release of the yesterday's US fundamentals.
The pair successfully violated a resistance line of a wide horizontal range on a daily.
We can expect a further bullish continuation now.
Next resistance - 0.918
❤️Please, support my work with like, thank you!❤️
NASDAQ INDEX (US100): Potential Scenarios Ahead of FOMC
NASDAQ Index is currently consolidating within a horizontal range.
Most likely, the market participants are waiting for the FOMC tomorrow.
Depending on the reaction of the market to the boundaries of the range,
I see 2 potential scenarios.
Bullish Scenario
If the market breaks and closes above 19115 the resistance of the range,
with a high probability, a bullish rally will continue.
Bearish Scenario
If the Index breaks and closes below 18880 the support of the range,
it may initiate a correctional movement.
I think that US100 may keep being weak before the news release.
Let's see what direction the market will choose tomorrow.
❤️Please, support my work with like, thank you!❤️
$SPY June 11, 2024AMEX:SPY June 11, 2024
15 Minutes.
AMEX:SPY held 532 and did not cross 536.5.
Big consolidation in 15 minutes.
All averages except 200 have converged in 15 minutes.
So, holding 532 I expect 539-540 as target now, today or tomorrow. (Tuesday or Wednesday), as nearly 5 days of consolidation in 15 minutes.
And on breaking down 532, target is 530 being 200 averages.
So not time to short.
AVGO - 3 months RECTANGLE══════════════════════════════
Since 2014, my markets approach is to spot
trading opportunities based solely on the
development of
CLASSICAL CHART PATTERNS
🤝Let’s learn and grow together 🤝
══════════════════════════════
Hello Traders ✌
After a careful consideration I came to the conclusion that:
- it is crucial to be quick in alerting you with all the opportunities I spot and often I don't post a good pattern because I don't have the opportunity to write down a proper didactical comment;
- since my parameters to identify a Classical Pattern and its scenario are very well defined, many of my comments were and would be redundant;
- the information that I think is important is very simple and can easily be understood just by looking at charts;
For these reasons and hoping to give you a better help, I decided to write comments only when something very specific or interesting shows up, otherwise all the information is shown on the chart.
Thank you all for your support
🔎🔎🔎 ALWAYS REMEMBER
"A pattern IS NOT a Pattern until the breakout is completed. Before that moment it is just a bunch of colorful candlesticks on a chart of your watchlist"
═════════════════════════════
⚠ DISCLAIMER ⚠
The content is The Art Of Charting's personal opinion and it is posted purely for educational purpose and therefore it must not be taken as a direct or indirect investing recommendations or advices. Any action taken upon these information is at your own risk.
NZDCAD: Bullish Trend Continues 🇳🇿🇨🇦
Last week, NZDCAD corrected to a key daily horizontal structure support.
This morning, we see clear sign of strength of the buyers -
a bullish breakout of a narrow horizontal range on an hourly time frame.
It looks like the pair returns to a global bullish trend and a correction is over.
Goals: 0.8435 / 0.845
❤️Please, support my work with like, thank you!❤️
GOLD (XAUUSD): Support & Resistance Levels For Next Week
Here is my latest structure analysis and important key levels
to watch on GOLD next week.
Resistance 1: 2315 - 2327 area
Resistance 2: 2375 - 2387 area
Resistance 3: 2426 - 2450 area
Support 1: 2265 - 2286 area
Support 1 and Resistance 3 compose a wide horizontal range on a daily.
Consider the underlined areas for pullback/breakout trading next week.
❤️Please, support my work with like, thank you!❤️
ICP Desc. Triangle Breakout + Rectangle, Targets $16.3 and $20BITGET:ICPUSDT broke out of its descending triangle and has successfully retested the resistance.
The triangle target is $20 🎯
Not the cleanest breakout, and lacking volume. Also, a case could be made for a rectangle pattern with a $14 resistance, so the safe play would be to wait for a daily close above that level.
The rectangle offers a second target: $16.3 🎯
This is also a previous resistance and could offer a good area to secure some profits.
Not Financial Advice
CADCHF: Accumulation & Indecision 🇨🇦🇨🇭
CADCHF is stuck between 2 key horizontal structures.
The price formed a narrow range where trading volumes are currently accumulating.
Depending on the reaction of the price to the boundaries of the range,
I see 2 potential scenarios.
If the price breaks and closes above 0.6532 the resistance of the range,
it will be the important sign of strength of the buyers and with a high
probability growth will continue.
Next goal will be 0.657
If the price breaks and closes below 0.659 - the support of the range,
a further decline will be expected, at least to 0.647.
Wait for a breakout, it will give you an accurate and reliable confirmation.
❤️Please, support my work with like, thank you!❤️