BITCOIN BEARISH BIAS RIGHT NOW| SHORT
Hello, Friends!
It makes sense for us to go short on BITCOIN right now from the resistance line above with the target of 60,642 because of the confluence of the two strong factors which are the general downtrend on the previous 1W candle and the overbought situation on the lower TF determined by it’s proximity to the upper BB band.
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SELL
GBP/JPY BEST PLACE TO SELL FROM|SHORT
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Previous week’s green candle means that for us the GBP/JPY pair is in the uptrend. And the current movement leg was also up but the resistance line will be hit soon and upper BB band proximity will signal an overbought condition so we will go for a counter-trend short trade with the target being at 182.891.
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EUR/CHF BEARS ARE STRONG HERE|SHORT
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EUR-CHF uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 0.936 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the EUR/CHF pair.
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EUR/NZD SHORT FROM RESISTANCE
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EUR/NZD pair is in the downtrend because previous week’s candle is red, while the price is clearly rising on the 2H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 1.768 because the pair is overbought due to its proximity to the upper BB band and a bearish correction is likely.
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SOLUSDT TODAY Based on the SOL/USDT chart you provided, here’s a concise trading strategy:
Super Support Zone: The highlighted zone around $115 - $125 acts as a strong support level. This is where buyers might look for entry points.
Buy Opportunity: If the price dips into the super support zone and shows a bullish reversal signal, consider opening a buy position. This zone has historically acted as strong support, making it a potential area for long trades.
Sell Scenario: The descending trendline marks significant resistance. If the price retraces upwards and touches the trendline (around $145 - $150) without breaking above it, this could be a sell opportunity, especially if bearish signals appear.
Key Levels:
Buy in the $115 - $125 zone (upon confirmation of a reversal).
Sell around the $145 - $150 resistance level (if the price is rejected at the trendline).
This strategy allows you to capitalize on both potential buy and sell opportunities based on market conditions.
SOLUSDT: Forming a bearish pattern?The SOLUSDT chart may be forming an Inverse Cup pattern, which signals a potential trend reversal from bullish to bearish.
In this pattern:
The inverted cup is created when the price rises, then reverses downward, forming a rounded top resembling an upside-down cup.
As the price drops and approaches the support level, traders watch to see if the support will be broken. If it does break, a strong bearish trend is likely to follow.
In the case of SOLUSDT, the price is showing signs of declining from the top of the inverted cup pattern, and it could continue to fall if it breaks below the support levels of 145 USDT and then 134 USDT.
Trading strategy based on the inverse cup pattern: Traders can wait for a break below the support level to confirm the bearish trend and then enter a sell position targeting lower levels, such as around 134 USDT.
XAU/USD Before the Break: Awaiting a Breakout or Correction?The XAU/USD chart is weaving a dramatic story as gold prices hover around $2,661.865. This is a sensitive moment with buyers holding control but facing a major challenge – breaking the key resistance at $2,684.675 and continuing their journey toward the peak at $2,710.715.
The EMA 34 ($2,653.217) and EMA 89 ($2,635.299) serve as “solid shields,” supporting the current uptrend and providing a strong base for buyers.
The strong support at $2,637.457 also acts as the “final fortress,” preventing a deeper correction.
If the price breaks this resistance, an "explosive surge" could occur, opening up golden opportunities for investors.
Today is a critical trading day, with the US Non-Farm Employment Change data about to be released. This is one of the indicators that significantly impacts the market, especially the currency pairs related to USD.
Cup and Handle: Potential Breakout for GoldOn the 4-hour chart of gold, I am predicting a “Cup and Handle” pattern forming, with a strong breakout potential. This pattern is often a sign of further upside, especially when it is confirmed by a breakout above the resistance line.
Recent news suggests that geopolitical instability could be a major factor pushing gold prices higher. For example, escalating tensions in the Middle East, especially armed clashes between regional powers, have prompted investors to seek gold as a safe haven. In addition, concerns about delays in tightening monetary policy by major central banks have also increased the appeal of gold.
XAUUSD: New Day Trading Strategy!Currently, XAUUSD is hovering around the 2662 USD mark, and it seems that the price has remained relatively stable over the past few days. On the other hand, the resistance level at 2670 is acting as a significant barrier to upward momentum. Interestingly, XAUUSD is forming a green candlestick right above the parallel wedge.
If this candle closes above the wedge, we could fully expect a strong breakout, aiming for new profit targets. Additionally, the positive signals from the EMA 34 and 89 are reinforcing this view, indicating a clear upward trend.
Investors might consider opening BUY positions on shorter timeframes, once the price confirms a breakout from the current range, provided that the support level around 2654 USD holds firm.
GBPUSD | October 3rd | (News: PMI Services)on PMI Services day
GBPUSD
ON 15M
1. 5am - set alerts on H/L of LDN session
2. Mark major levels in 50 multiples
Once alert hits
1. Mark 15m OB with fvg and bos with Gann Box
2. Go on 1m - wait for strong move that leaves FVG on major level and BOS
3. Set limit order or enter on the 3 candles after 2 FVG candles
4. Ride to 20pips/ 50% of 15m OB/ Major Level/ Liquidity
Liquidity & 20pips are best TP
BTC reversal soon??Divergences between price and RSI can often show that a trend is coming to an end and a new one is beginning. In this case we can see that RSI on the 4H timeframe hit the oversold zone, and has been steadily climbing out of it ever since. However, we can see that price has continued making lower lows and lower highs... The price and the oscillator are out of phase and in this case as RSI grows larger but price continues to drop it's a bullish divergence signal and this suggests a trend shift from bearish to bullish.
Divergences are not perfect, no indicator is but this can be paired up with other signals for confluence, RSI being at the oversold zone is a good indicator that the bulk of the move is done, especially now that RSI has climbed out of it. The green box is showing a bullish orderblock, all 3 wicks have bounced off this zone and therefor suggests support also.
My feeling is that geopolitical worries have shaken the traditional markets and that uncertainty has spilt over into crypto, fundamental influences will effect the charts no matter how good the technical analysis may be. If we weather this storm and the situation doesn't escalate the TA suggests the worst has been and gone.
US30 Is Very Bearish! Sell!
Here is our detailed technical review for US30.
Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 42,103.5.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 41,765.3 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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USOIL BEARS WILL DOMINATE THE MARKET|SHORT
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USOIL pair is trading in a local uptrend which we know by looking at the previous 1W candle which is green. On the 1D timeframe the pair is going up too. The pair is overbought because the price is close to the upper band of the BB indicator. So we are looking to sell the pair with the upper BB line acting as resistance. The next target is 64.95 area.
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EUR/JPY BEARS ARE GAINING STRENGTH|SHORT
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We are now examining the EUR/JPY pair and we can see that the pair is going up locally while also being in a uptrend on the 1W TF. But there is also a powerful signal from the BB upper band being nearby, indicating that the pair is overbought so we can go short from the resistance line above and a target at 159.020 level.
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AUD/USD SHORT FROM RESISTANCE
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AUD/USD pair is trading in a local uptrend which we know by looking at the previous 1W candle which is green. On the 1H timeframe the pair is going up too. The pair is overbought because the price is close to the upper band of the BB indicator. So we are looking to sell the pair with the upper BB line acting as resistance. The next target is 0.686 area.
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XAUUSD todayHello everyone,
Gold prices today continue to slide, dropping to $2,642, down 0.6% on the day.
This decline is largely driven by the U.S. Dollar (USD) extending its strong recovery, after hitting its lowest point since July 2023, now reaching its highest level in three weeks. This comes amid fading expectations of the Federal Reserve (Fed) implementing further aggressive monetary easing.
Moreover, gold closing below the $2,650 mark signals that the precious metal is entering a short-term bearish zone, with the next target expected to hit $2,630.
What are your thoughts on the current gold price situation?
ETHUSDT Today’s ETHUSDT analysis shows a potential bearish continuation. After a sharp 10% drop, the price is hovering around $2,390, signaling more downside risks. The chart indicates that ETH might enter a consolidation phase, with the price likely retesting the resistance zone between $2,839 and $2,535 before making another move lower.
Key Levels:
Resistance Zone: $2,839 to $2,535
Support Zone: $1,550 (major support zone highlighted below)
Trading Strategy:
Bearish Setup: If ETH struggles to break through the resistance zone, it may lead to further declines, potentially dropping to the support level at $1,550. Traders could look for shorting opportunities near the resistance around $2,839 with a target of $1,550.
Stop Loss: Place the stop loss just above the $2,839 resistance to protect against any unexpected breakouts.
BTCUSD: How to trade ?Today’s analysis for BTCUSDT based on the chart shows a potential continuation of bearish momentum. The price has been rejected at a resistance level around $63,000, highlighted by the red arrow and labeled "Resist". The current price is hovering around $61,100, and we observe that BTCUSDT is struggling to break back above this resistance zone.
Key Points:
Resistance: $63,000 is acting as a strong resistance level.
Support: There is a crucial support zone around $54,300, as shown in the green area on the chart.
Strategy:
Bearish Scenario: If BTCUSDT fails to break above the resistance around $63,000, a further drop towards the support level at $54,300 is likely. Consider short positions below the resistance level with a target near the support zone.
Stop Loss: Set above $63,000 to mitigate risks in case of a breakout.
Bullish Scenario: If there is a clean break above the $63,000 resistance level, the next upside target could be around $66,000 or higher, invalidating the bearish outlook.
The overall sentiment remains cautious as investors monitor price action around key resistance and support zones.
BTCUSDT Trading Strategy Today. Today’s analysis for BTCUSDT shows that the price is currently moving below a key descending trendline, indicating potential bearish pressure. The recent rejection from the trendline (highlighted by the red arrows) suggests that BTCUSDT may head lower, continuing its downward momentum.
The price is trading around $61,000, and if it fails to reclaim the trendline resistance near $61,600, we could see a deeper pullback towards the support zone around $52,600, as marked on the chart.
Strategy:
Sell Strategy: Consider short positions as long as BTCUSDT remains under the trendline resistance. A break below $61,000 could accelerate the decline toward the $52,600 support level.
Stop Loss: Set near $65,800 (above recent highs), and the target would be around $52,600.
This aligns with current market sentiment, where potential bearish trends dominate unless there is a significant reversal back above the trendline.