“EUR/USD Gains Weakened”The weakening of the manufacturing PMI and ISM manufacturing PMI figures in the US compared to the previous month has acted as a negative catalyst for the economy. This data has reignited recession concerns in the US, leading to accelerated dollar outflows. In the Eurozone, the manufacturing PMI for August slightly exceeded forecasts at 45.8. In Germany, the manufacturing PMI for August was 42.4, above the previous month’s figure. Following these developments, the EURUSD pair is maintaining prices above the 1.1050 level.
In light of these data points, if the index maintains closing prices above the 1.1050 level, buying activity could accelerate towards the 1.1115 and 1.1190 resistance levels. However, in the event of a potential pullback, sell-offs could test the 1.1050 support level and possibly extend to the 1.0965 and 1.090 support levels.
Rectangles
TOTAL 1 Will Crypto Christmas come early?I was thinking to wait till tomorrow till I post this analysis so more people could see it but oh well, let us do it today cause you never know what happens.
I think this is one of the most important charts when following crypto markets. (cause it shows crypto markets money inflows and outflows).
Bitcoin has broken out already from this years highs week ago (I'll add picture down), BUT Total 1 marketcap hasn't made higher highs yet.
If and when this breaks I believe we will see surge on BTC and possibly on alts that will wake up the bull narrative again. (News etc)
Target is 1.49 Trillion so that would be 250 Billion inflows to crypto markets, that's 20% rise!
Better to be prepared than get caught with pants down
Two active trades going on DYDX and GOLD
-PalenTrade
📈 How to: Bullish Rectangle PatternThe rectangle is a classical technical analysis pattern described by horizontal lines showing significant support and resistance. It can be successfully traded by buying at support and selling at resistance or by waiting for a breakout from the formation and using the measuring principle.
📍Understanding the Bullish Rectangle Candlestick Pattern
The bullish rectangle candlestick pattern is a chart formation that appears during an uptrend when prices temporarily pause before resuming their upward movement. It represents a period of temporary equilibrium as the price moves sideways. When the price breaks out above the upper resistance level, the pattern is considered valid, and it generates a buy signal. Bullish rectangle patterns are a type of classical chart pattern that indicate a period of indecision between buyers and sellers. They are common and powerful patterns used in breakout trading. On the other hand, the bearish rectangle pattern is the opposite version of the bullish rectangle pattern and follows the same formation and rules but occurs during a bearish market trend.
💥Key Takeaways:
🔹 The rectangle pattern signifies a lack of trend as the price fluctuates between horizontal support and resistance levels.
🔹 Traders have different approaches to trading rectangles:
🔹 Some choose to trade within the rectangle, buying near the bottom and selling or shorting near the top.
🔹 Others prefer to wait for breakouts, which occur when the price moves out of the rectangle.
🔹 The rectangle pattern concludes with a breakout, marking the end of the price's sideways movement between support and resistance levels.
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Bitcoin Dominance BTC.D. Bitcoin will outperform?Bitcoin Dominance trying to break a key level ~49%. If price stays on top of it, the rectangles target is around 58-60%.
Bitcoin will outperform most of the alts at that point, and alts bleed against BTC.
SEC has labeld some alts as securities so Bitcoin outperforming makes sense. For now.
I'm interested to see how this weekly candle closes. Does it close above 49%?
I also made an analysis from a micro-cap project which I think can 20-100x in few years.
Check it here
Rectangle on AUD/CAD @ D1This rectangle pattern on the daily chart of AUD/CAD offers two potential breakout trading opportunities (bullish and bearish). The borders of the rectangle are marked with the yellow lines. My potential entry levels are where the cyan lines are. My potential take-profit levels are at the green lines. They are based on the rectangle width - 10% for the Entry lines and 100% for the TP lines. The stop-loss can be set to the low/high of the respective breakout candle (not shown on the chart).
SILVER FUTURES Daily Technical AnalysisSI1! Daily - No RECOMMENDATION or ADVICE Status / EDUCATIONAL only - Cup and Handle, Support, Resistance, Trend Lines, Cluster, Confluence, Parallel Channels, Rectangles, Pitchfork, Fibonacci Extension - Hope it Helps, Good Luck
DISCLAIMER - This communication is not trading or investment advice, recommendation or solicitation to buy, sell or hold any investment product is provided for informational, educational and research purposes only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The author or persons involved in the conception, production and distribution of this material cannot be held responsible for transactions or any financial loss or damages resulting directly or indirectly from the use or application of any concepts or information contained in or derived from this material. Past performance is not indicative of future results. Any person who chooses to use this information as a basis for their trading assumes all the liability and risk for themselves.
XAUUSD - new potential setupsFX_IDC:XAUUSD
Hello everyone!
🛎 Let check the trading idea for XAUUSD
🤗 Not making anything difficult everything is pretty straightforward.
👉 1. Price goes ABOVE the selected range on the picture. Long positions to activate. 🟢
👉 2. Price goes BELOW the selected range. Short positions to activate. 🔴
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⚠️ Important Notes:
1. Always follow your trading plan regarding entry, risk management, and trade management. ❗️❗️❗️
2. Timeframes: up to H4
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😉 If you like the idea there was a like 🚀 and sign up so you can continue receiving great ideas like this one and also for us to make pattern the idea! 🤝
💪 Profitable lock for everyone! 🙏
Silver - Potential ideaFX_IDC:XAGUSD
Potential idea for XAGUSD.
When the price consolidates outside the trading range, you can open buy or sell trades according to your trading strategy.
Time frame for trading from 1 hour and below.
Do not forget that everyone trades on their own time frame and everyone has their own personal money management!
GBPAUD - - Potential ideaFX_IDC:GBPAUD
Potential idea for GBPUSD trading.
When the price consolidates outside the trading range, you can open buy or sell trades according to your trading strategy.
Time intervals for trading from 1 hour and below.
Do not forget that everyone trades on their own time frame and everyone has their own personal money management!
SHOP: RECTANGLE PATTERNSHOP (SHOPIFY)
Nice rectangle pattern with prices ranging 30 and 40.
Rectangle can be either continuation or bottoming/reversal patterns.
Now trying to break the top of the rectangle . Price also above EMA 50 which is positive.
A firm break of 40 would trigger a long trade to 54, with numerous resistances on the way, including a gap (see lines on the chart).
Stop loss just below the 50EMA
Trade safe!
$SHOP Rectangle pattern trading rangeNYSE:SHOP The price has formed a Rectangle pattern and has been in a trading range since May 2022. A close above $41.85 will confirm the pattern's breakout, with a target price of $51. 40 .
A close below $28.90 will confirm the pattern's breakout, with a price target of $21.75. Note that not every price target is met.
$SHOP remains in a downtrend. A close above $79.00 will confirm a trend reversal, and the price will likely keep moving to the upside.
ETHUSD | Entry On Pull Back To The Mean | EMA | Pin BarEntry comes after the pin bar form on rectangle resistance turned support at price level 2133.07. Resistance level turned support has four or more touches. Closing price of pin bar is near the price value of exponential moving averages. EMA s are pointing up which indicates an up trend.
Exponential Moving Average Period 10: 2119.21
Exponential Moving Average Period 20: 2096.45
Closing Price of Pin Bar: 2133.08
Trend: Up Trend
Level: Horizontal Support Resistance, Exponential Moving Average Period 10, Exponential Moving Average Period 20, Dynamic Support Resistance
Signal: Pin Bar
Pattern: Rectangle
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Price and Time of Candle
EURJPY Entry 124.292 Exit 122.517 Stop Loss 124.792EURJPY Entry 124.292 Exit 122.517 Stop Loss 124.792
Risk 50 Pips
Reward 177.5 Pips
R Multiple 3.55R
Risk $1000.00
Lotsize 2.111 (211,104)
Pip Value $9.4740
Risk $100.00
Lotsize 0.2111 (21,110)
Pip Value $0.94740
Risk $10.00
Lotsize 0.02 (2,111)
Pip Value $0.094740
NEO/USD: Multiple Levels of AnalysisNEO/USD was requested by my good friend GBU Professor Wally. I apologize I was not quick enough to respond to his Super Chat on Friday afternoon.
I quite like NEO in this area. On the Weekly Timeframe, we are consolidating following a downtrend and now a long period of sideways and volatile ranging. I identify the current formation as a Rectangle Bottom, which I have a high hit rate with in my discretionary trading. Once our weekly resistance level is broken (weekly close above) it will also flip the weekly SuperTrend bullish. I have marked out our measured weekly profit targets.
On the Daily, we are receiving a potential PTP Daily Swing Long Signal. The actual signal would have been generated on yesterday's candle, however we were above the Qualifying Line generated by our Donchian Base Line. Now we have a potential RBB buy in opportunity and price is within our Buy Zone. Good R/R on this setup.
On the hourly, we can see a potential market bottom being signaled. ICYS Bot has generated a buy signal in addition to Vix Fix signaling a high volume potential bottom.
Trade safely and position size wisely, 2% risk is recommended.