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Lingrid | EURCAD breakout and RETEST Trading StrategyThe price perfectly fulfilled my last idea. It hit the target. Recently, the FX:EURCAD broke and closed above a downward channel, by forming a ABC move. This bullish breakout is significant as it reflects a shift in momentum after a period of downward trend. The market has reached a critical area where previous sell-offs occurred, which suggests that there may be some resistance at this level. Given this context, I anticipate a short-term pullback as the market may seek to retest the channel's upper border before continuing its upward trajectory. Importantly, the major trend remains bullish on the daily timeframe, supporting the idea of a continuation trade following the anticipated pullback. My target is resistance zone around 1.52000
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
Lingrid | DOGSUSDT opportunity to BUY at Support ZONESince the initial launch of the meme coin BINANCE:DOGSUSDT , the price has experienced a significant decline of nearly 50% from its ATH, presenting a potential buying opportunity at discounted prices. However, the recently price has broken and closed below the key psychological level of 0.001, which is a concerning sign for bullish momentum. Currently, the price is testing another significant round number at 0.0009. Given the overall bearish sentiment in the cryptocurrency market during this correction phase, I anticipate that the price may dip below this level as well. The consolidation zone suggests that the market is experiencing indecision, but it may lead to further downside before making any upward movement. It's possible that the market could form a false breakout of the previous support level before reversing direction. This could trap sellers who enter the market expecting continued declines. If the market does push below 0.0009 and then quickly rebounds, it could create a potential buying opportunity. My target is resistance zone at 0.0011
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
My New Signal Strategy Has 100% Accuracy!Traders,
This is insane! My jaw literally dropped when I back-tested my new signal strategy. While I was playing around on the charts, as I do, with a couple of different indicators, by sheer chance I discovered a combination of indicators that I had never seen or heard any trader ever discuss. I had seen them discussed individually. But no one that I know has ever paired the two indicators. And while I was tracking the signals that they threw at me after some customization, I noticed something that I could not believe! In back-testing the combination on a daily basis, they showed 100% accuracy on Bitcoin for the last 2 years! I repeat 100%!
Now, I know my critics will be quick to point out that many indicators will repaint. And yes, this is true. My indicator system does also repaint. However, even with the repainting, the system still can be utilized with a +90-95% success rate pending assets.
This is why I have told all of my subscribers that I am completely ditching my old model of trading which involved an abundance of work analyzing, drawing levels, drawing trend lines, drawing patterns, and other manual activities. I will throw all of that away and replace it with this new signal model and I plan to implement this model completely starting in October.
But before then, I have a little work to do and so I wanted to at least give you all (especially my faithful paid subs ...love you guys!) a sneak peek of what I am looking at.
So, here it is.
The green vertical lines show us where we receive our buy signal. The red vertical lines show us where we are told to sell. In this example, I go one year back to September of 23 but you can go all the way back to September of 22 and still see 100% signal accuracy. I did not track it farther back than this. I am already ecstatic to have found this kind of success rate!
I also tracked the time between trades. We start with our longest trade entry on September 12th, 2023. That's held for 103 days until we are given a SELL signal indicated by the vertical red line. At that point, we can go short or just sit the sidelines. It is another 33 days until we are given a BUY. You get the idea.
The average time per trade is definitely longer than our current average of 15 days. But will you all mind with this kind of success? I am assuming not.
One more thing to note and something I think is cool is that the indicator often gives 2 or more chances to buy or sell. This means that if you follow my channel and miss a signal immediately, that may be okay. You might actually have a second chance for entry such as most recently with Bitcoin. It has given us two chances to BUY thus far since August. And yes, I just gave away a free signal.
You're welcome.
Can't wait to implement this system ya'll. Hope you'll be as excited as I am rn once we work out a few of the wrinkles.
More to come.
Stew
Lingrid | BITCOIN Price Squeeze: Tension Builds for a BREAKOUTBINANCE:BTCUSDT appears to have found support in the 54000 - 53800 area, as evidenced by three fake breakouts on the daily timeframe. This indicates that this level holds significant importance; each time the price dipped below 53800, it closed above it afterward. I believe the market may remain in a range until the Federal Reserve's rate cut decision on Wednesday. Currently, we are seeing the formation of a giant triangle pattern characterized by a series of lower highs and higher lows, suggesting that the price is coiling up in before an extension. Given this setup, I expect the market to oscillate within this range until we receive clarity from the Fed's decision. The tension in the market could lead to a volatile breakout in either direction once the decision is announced. My target is resistance zone around 65000
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
Lingrid | GBPCAD in consolidation zone. ShortFX:GBPCAD is currently fluctuating near the main resistance level and the upper boundary of the consolidation zone. The price has shown impulsive movements, oscillating between support and resistance levels. I believe the price may decline from the resistance, as the market has rejected this level and is likely to move downward to retest the support level. My goal is to support level at 1.77780
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
Lingrid | GOLD counter-TREND Trading: Short-term PULLBACKThe price perfectly fulfilled my last idea. OANDA:XAUUSD reached an all-time high of 2570, hitting both the resistance zone and the channel border. With no high-impact news today and given that it’s Friday, there's a likelihood that we might see a pullback, as markets often make corrections at the end of a trending week. Additionally, the price action appears to be decelerating as it approaches the resistance zone, indicating potential weakness. Considering that markets move in ebbs and flows, there’s a good chance that we could see a retest of the 2550 support level before any further upward movement. My target is support zone around 2544.800
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
Gold- This correction should be boughtIn my comment yesterday, I speculated about the nature of the breakout, as it had been clear after a month of testing the all-time high (ATH) that an upward move was imminent. The breakout was strong, suggesting more gains and new ATHs in the future. The new ATH is now set at 2570, and the price is currently undergoing a normal correction.
While the old ATH provides support, I don't expect a retest today or early next week. Therefore, short positions aren't advisable. Instead, look for buying opportunities around the 2550 level, given the market's strong bullish momentum.
Lingrid | AUDNZD Bearish MARKET RangeOANDA:AUDNZD has bounced off the channel border after forming a consolidation box. Overall, the market is in a bearish trend on both the daily and 4H timeframes. Following the recent hit to the support level, the market has moved sideways, suggesting that we can expect the price to oscillate between the bottom and top of the established range. Given that the price has bounced off this level twice before, I believe there’s a good chance it will do so again. I expect the market to continue downward movement by breaking through the trendline and the key support level at 1.08500. If this level is broken convincingly, it could indicate a bearish momentum and potentially open the way for further lower level. My target is support level at 1.08200
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
Lingrid | TONUSDT Buying OPORTUNITY on PullbackThe price perfectly fulfilled my last idea. OKX:TONUSDT formed a double bottom below the key level of 5.00 and has since bounced back, closing above it. However, recent price action appears to be losing momentum due to the presence of bearish divergence, which could indicate a potential pullback. Looking left at the chart, we can see that the price has been consolidating between the 5.0 and 6.0 price zones, creating a triangular formation. This suggests that the market may remain stuck in this range for some time. I expect the market to form a pullback towards the key support level, viewing the double bottom as a potential fake breakout. My target is resistance zone at 5.90
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
New ATH looks imminent, but how will the break be?Yesterday's CPI report failed to provide a clear direction for Gold's mid-term movement. After initial volatility, during which the $2500 level held as support for the fourth time in two days, Gold once again closed the day near the middle of its range.
While we can't draw a definitive conclusion from the price action, it seems that the price is pressing towards the previous all-time high, and a new high appears imminent. In the short term, the outlook remains bullish as long as the $2500 level holds.
The key mid-term question is: What will the nature of the potential breakout be (if one occurs)? Given the more than one-month consolidation, we could see a strong breakout with upward acceleration.
However, the $2540 zone, which serves as resistance in the newly formed upward channel, poses a technical challenge. A failure to break above this level could see Gold retreat below $2500.
In conclusion: Short-term outlook remains bullish, but mid-term direction is still unclear.
NAS100 at a Crucial Juncture: What’s Next for the Index?In my previous NAS100 analysis, I mentioned that as long as 19,500 held as resistance, a drop to 17,000 was likely. Initially, the index did begin to fall, but it found strong support at the April all-time high (ATH) and reversed upward.
Now, the price is once again approaching this crucial resistance. Looking at the chart, we can clearly see the significance of this confluence, marked by the falling trend line, the horizontal level, and the retest of the broken channel support.
A break above this level would put NAS100 back on a bullish track, potentially targeting the previous ATH, with an extension toward 22,000 where the channel's resistance lies.
On the flip side, for bears to gain control, a bearish engulfing pattern needs to form today.
EUR/USD Faces Reversal After NFP: A Sell-on-Rallies StrategyAfter dropping near the 1.1 support level, EUR/USD began recovering its losses and successfully reclaimed the 1.11 resistance level. However, after testing the 1.1150 resistance (which previously acted as support during the top formation), the release of the Non-Farm Payrolls (NFP) data triggered a strong reversal, pushing the pair back below the 1.11 support level.
As of now, the price stands at 1.1080, and there is a high likelihood of further downside movement. In my view, selling on rallies presents the best strategy for this pair.
The first target is the support at 1.1, but as said, the pair could even drop to 1.0920 zone
XAU/USD Outlook: Short-Term Bullish but Downside Risks LoomAs previously explained, I believe XAU/USD is poised for a significant decline, and I indicated my sell zone between 2505 and 2510.
However, after the initial drop from this zone, Gold found strong support at the 2500 level, which led me to close my sell position.
Looking ahead, at this moment, the price seems well-bid and is steadily rising within a channel. Channels often signify the final leg of a move before a reversal, but confirmation is needed.
This confirmation would come from a drop below the established inflection zone around 2505 level.
If this happens, the 2475 zone will likely be exposed again, with a potential move further down to 2440.
Until then, in the short term, the price outlook remains bullish.
Short-term traders may look to buy on dips, anticipating a potential new all-time high following today's inflation data release.
Is the Yen Set for a Comeback? Analyzing EUR/JPY,GBP/JPY,CHF/JPYThe Japanese Yen (JPY) has been one of the weakest currencies in the past three years, with some pairs experiencing a significant 70-80% devaluation, particularly against CHF, EUR, and GBP (CHF/JPY, EUR/JPY, GBP/JPY).
However, since reaching a low in early July, the JPY has shown signs of reversing.
When looking at the JPY Index (see posted chart), we can observe that the price recently broke above the falling resistance line within its downward channel.
After initially stalling at resistance, as marked by a bearish Pin Bar, the subsequent fall lacked continuation and instead reversed upwards.
Currently, the JPY is on the verge of a significant breakout.
If this breakout occurs, the technical target for the next mid-term move is around 860, which would represent a potential 10% appreciation for the Yen.
Key JPY Crosses to Watch:
EUR/JPY:
After breaking out of its rising channel, EUR/JPY confirmed the breakout as valid and has begun a downward trajectory. Yesterday's strong bearish engulfing candlestick suggests that further downside is highly likely. A possible first target could be the 150 zone.
GBP/JPY:
GBP/JPY attempted to recover above its broken support but failed to hold those gains. Like EUR/JPY, GBP/JPY also printed a strong bearish engulfing pattern yesterday.
This suggests a lower high may now be in place, with potential downside targets around 178.50, followed by the 170 zone, which seems a strong possibility.
CHF/JPY:
www.tradingview.com
CHF/JPY has seen one of the largest devaluations of the Yen, amounting to almost 80%. The top in this pair was marked by a head & shoulders pattern, and the price is currently sitting at the neckline. A break below this level seems imminent, with 160 being a likely target. If the correction deepens, we could even see a move toward the 151 level.
Conclusion:
These are long-term predictions, and I anticipate these movements to materialize by the end of the year.
P.S: Stay updated on these charts as conditions evolve. These predictions are based on technical analysis and market patterns for long term, so monitoring changes is crucial.
Best Of Luck!
Mihai Iacob
XAU/USD Weekly Analysis: A Challenging Market AheadIt's been a challenging few weeks for XAU/USD traders, especially for those of us who prefer swing trading with larger targets.
As a directional trader, I usually aim for 400-500 pips per trade, but the recent market conditions have tested my strategy. With the total range being only around 600 pips over the past couple of weeks, volatility has been limited from my point of view, making it tough to find those big moves.
NFP Data and Gold’s Reaction:
On Friday, the NFP data came in at 143K, lower than the market's expectations. This weaker-than-expected jobs number suggests that the Federal Reserve could feel more comfortable cutting interest rates in the near future, as economic data softens.
Immediately after the release, gold initially rallied, touching a key resistance level at its previous all-time high. However, the bullish momentum didn't hold. Gold soon dropped after hitting this level, signaling significant resistance.
Key Levels and Market Sentiment:
As I’ve mentioned in previous analyses, the resistance zone that gold initially touched after the NFP release was critical for any continuation of the uptrend. Despite some initial volatility, the price fell below an interim support zone around 2505, and by the end of Friday's session, gold had dipped below the critical 2500 level.
Technical Outlook: Bearish Signs on the Horizon?
Looking at the daily chart, Friday's session closed with a bearish engulfing pattern, a strong bearish indicator. As I mentioned, it also closed below both the 2505 interim support and the 2500 key level.
Zooming out to the weekly chart, we see the formation of a doji pattern, a classic sign of market indecision and potential reversal. This topping formation aligns with the bearish sentiment seen in shorter timeframes.
Strategy for the Upcoming Week:
With these factors in mind, I stayed out of the market on Friday, believing we are at a critical juncture. Moving forward, I plan to look for sell opportunities on rallies.
The 2505 resistance zone, which previously acted as support, could offer ideal selling opportunities if gold retests this level. If the price continues to move lower and approaches the 2475 support zone, my expectation is that this level will eventually give way.
In fact, my target for the next significant move in gold is between 2430 and 2440, where I believe the next major support lies.
Conclusion:
As we move into next week, the key will be to watch how gold reacts at these critical resistance and support zones. If bearish momentum continues, we could see further downside. As always, I’ll provide an updated analysis once the market opens on Monday.
Stay tuned, and enjoy the weekend!
Mihai Iacob
XAU/USD Correction Nears End: Preparing for Further Downside?In my weekend analysis and yesterday’s video, I expressed the view that XAU/USD has turned bearish in the mid-term, with the potential for a drop below the 2475 support zone.
After initially pulling back to the NFP low, the price rebounded and returned to my sell zone between 2505-2510 (as previously explained). However, this recovery from 2485 seems more corrective and overlapping in nature, lacking strong momentum. After reaching a local high near 2507, the price began to roll over again.
Confirmation of a lower high and the end of this correction would come with a drop below 2500, which would once again expose the 2475 support zone. Additionally, a retest of this level could potentially lead to a break, bringing my mid-term target of 2440 into focus.
At this point, I maintain my bearish outlook on gold and for the short term 2475 is my target.
BTCUSDT Opportunity for a Drop from 60KBTCUSDT is trending downward toward the lower end of its consolidation zone. The market has been fluctuating between 52K and 72K since April. Now, it looks poised to retest the bottom of this range, especially after breaking and closing below the key psychological level at 60K. On the weekly timeframe, the price also broke and closed below the prior week's low, forming a significant bearish candle. This suggests that bearish momentum may continue. The target is the support level at 54,000
SOLUSDT Trend continuation tradeSOLUSDT has been ranging between the 140 and 160 levels, but it has recently broken and closed below this range. This indicates a shift in market dynamics. The market might be heading to retest the area where we observed a bullish impulse leg previously. The break below the upward trendline suggests that the price has entered a consolidating phase, which was signaled by the price being above the trendline and showing bullish momentum. Given this context, the market is expected to push a little further down towards a key round number, which could act as a psychological level of support. The target is support level at 120