Alikze »» FET | Wave 3 or C bullish scenarioIn the daily and weekly time, after an upward cycle in the supply area, a complex mixed correction has been corrected to the 0.38 Fibo range of the previous wave, after which it faced demand.
🔰In the lower time, it went through a full cycle up to the green box area, which again grew up to the current area after a correction.
🔰If this wave is extended and breaks the resistance zone, it can continue to climb to the next zone, but if it encounters supply in the current zone, a correction cycle can be carried out to the previous major ceiling zone and then the continuation of the upward cycle. to do in the form of a large wave 3.
If the behavior and structure of the post changes, it will be updated.
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EURUSD SELL | Idea Trading AnalysisEURUSD is moving in a descending channel between the trend lines and Resistance area. Is near the resistance, where price dropped before.
We expect a bearish move from the confluence zone.
Hello Traders, here is the full analysis.
I think we can soon see more fall from this range! GOOD LUCK! Great SELL opportunity EURUSD
I still did my best and this is the most likely count for me at the moment.
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Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝
Gold- Before CPI and FOMCAs you know, I'm strongly bearish on gold in the medium term. However, as I explained in previous posts, I expected a recovery after Friday's 1000-pip drop. The big question now is: from which level will gold start falling again?
As I mentioned yesterday, a new leg of correction is probable. At the time of writing, with the price at 2313, it seems we are in the middle of this correction. The 1-hour chart shows buying pressure, and the 2320 local resistance could be broken.
If this resistance is breached, there are numerous resistances to the upside, making it difficult to choose an optimal entry point for a short trade. However, the only zone that makes sense for a swing short trade at this moment is between 2335 and 2350. This zone is a confluence of the Fibonacci golden ratio, the 20 and 50 simple moving averages, and previous horizontal levels.
That being said, I'm currently out of the market, waiting for clarification and a clear selling signal.
Follow the idea, because I will update it during the day!
Gold- Correction over, 1k pips drop next?As I mentioned in my analysis yesterday, I anticipate a significant drop in gold prices once the current correction ends.
As expected, the price broke above the 2320 local resistance, creating a new upward correction leg. It then reversed from 2341, giving me a precise short entry.
The candlestick pattern since Friday has formed a "bearish mat hold pattern," suggesting a continued downward trend. At the time of writing, gold is trading at 2314, below the 2320 zone, which has recently acted as both support and resistance. This adds to the bearish outlook.
Confirmation of a lower high will come with a drop below the 2300 psychological level. If this happens, the technical support at 2285 will be exposed.
Furthermore, if there is a new drop to this technical support, I expect it to break, leading gold to fall to the 2250 zone initially.
EurGbp could drop hard and test 0.8From a fundamental standpoint, given the political problems in the EU, the GBP is expected to outperform the Euro, regardless of what happens with the major pairs (EUR/USD and GBP/USD).
This, combined with the technical outlook, could create a promising selling opportunity for EUR/GBP.
As shown in the chart, the pair broke a major support level this week. Considering the descending triangle pattern that has contained EUR/GBP since late January, we could see an acceleration to the downside, potentially leading to a 400-pip drop to test the 0.80 psychological support.
My strategy is to sell on rallies.
Gold- New leg of correction before big drop?As you know from my previous posts and videos, I'm strongly bearish on OANDA:XAUUSD .
However, in my analysis yesterday, I mentioned that after such a significant drop on Friday, a correction is possible.
Indeed, after a double tap on the 2290 zone support, gold started to reverse and reached an intraday high of 2315.
There is still the possibility of a new leg of correction, which could provide bears with a good entry point for the future drop.
A good zone to watch for short entry signals is slightly above 2320.
My medium-term target remains the 2200 zone, and only sustained buying above 2350 would change my outlook.
DXY could rise back to 106.50 resistanceThe beginning of May marked the start of a correction for the DXY, with the index dropping from 106.50 to the 104 support zone.
However, after finding support around 104 and undergoing a few days of consolidation, the much stronger-than-expected NFP data last Friday led to a reversal for the US Dollar, as evidenced by a significant bullish engulfing pattern on our daily chart.
Yesterday, the index also broke above horizontal resistance, and at the time of writing, the price is 105.18.
I expect the uptrend to continue, potentially leading to a new test of the recent high at 106.50.
XauUsd- Trend reversal? Will it drop under 2200?Last week was volatile and, most importantly, an interesting week for XAU/USD traders. In light of new developments in the market, a more in-depth analysis is needed to address the question of whether gold will drop to 2200.
Weekly Chart Analysis:
Initial Observations:
As we can see, 2024 started with consolidation and a slight correction of the initial leg up. Since mid-February, there has been a very strong bullish leg, approximately 5,000 pips. During this bull leg, there was only a brief consolidation and no significant correction.
Bearish Signals:
After reaching an all-time high, we witnessed a normal correction.
However, things have become very interesting.
The price resumed its upward movement and made a new all-time high, but the bulls were unable to keep the price above 2400.
The following week, we saw a very strong bearish engulfing pattern, a small pin bar after, followed by an extremely bearish candle last week.
This long-tailed bearish candle engulfed the previous pin bar, indicating a probable top formation.
The price stopped on Friday at a level of support and I believe that in the coming weeks, we will see a drop below this support, potentially leading to a significant drop to the level of consolidation.
Daily Chart Analysis:
Detailed Observations:
On the daily chart, the level of support is more evident.
We saw an initial drop and a new attempt to conquer 2400, followed by another drop and consolidation.
On Friday, we observed an extremely large bearish engulfing candle, with the price stopping at a level of support.
There is a potential head and shoulders pattern with the neckline around the current support level.
If we consider this head and shoulders pattern and take the measured target, it suggests a drop below 2200, around 2180 zone.
Current Expectations:
At this moment, we are at a very important level of support.
After this nearly 1,000 pip drop from the top, I expect a correction to test the resistance zone towards 2325, followed by a continuation to the downside and a break below support level (2285 zone).
Trading Strategy:
Aggressive and Conservative Approaches:
Aggressive traders might look to buy around the current support level but should be cautious due to the very aggressive nature of Friday's drop.
There are multiple resistance levels to consider as targets, starting at the psychological level of 2300 and finishing with 2325 important one.
However, in my opinion, a more conservative approach is better: selling rallies rather than buying at the support level.
Conclusion:
My outlook on gold is extremely bearish.
In the coming weeks, I expect a drop to 2200 and potentially below.
Alikze »» WAVES | Ready to retest the necklineIn the daily time, the long-term survey indicated that it is in wave 3 or C. that wave C had the ability to return to 100% of its previous wave, after which it entered the corrective phase.
💎But at the moment, due to the fact that it has faced demand in the green box in the 8H time, it will have the ability to retest up to the neck line area and supply.
💎 In the future, if it can break the supply area, the process will be reversed, and I will update it if the behavior and structure change.
💎 Alternative scenario: If the green box is broken, the correction can continue up to the $1.95 range.
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TRUUSDT(TrueFi) Daily tf Range Updated till 10-06-24TRUUSDT(TrueFi) Daily timeframe range. another alt doing pretty well while market is down. trying to break out of 0.24465 if volume can keep up its possible. if we get a valid close above 0.24465 than till 0.31015 is open. local support is at 0.18236.
Gold- NFP could bring reversalIn my video yesterday, I mentioned a possible upward continuation for gold and identified 2355 as the buy zone.
Indeed, the price reversed upward precisely from that zone and reached a local high of around 2388.
However, the rise after breaking the resistance is overlapping, indicating selling at higher levels. Additionally, the recent upward movement is contained within a rising wedge, suggesting a potential reversal.
My strategy is to sell rallies around 2400, targeting a level near yesterday's low.
In the longer term, if the bulls are unable to maintain the 2350 zone, there is still the possibility of a drop below 2300.
Bitcoin- rise to at least 85kBitcoin's price action has been pretty boring in recent days. In fact, for the past three months, BTC/USD has been stuck in a range.
However, as I mentioned in my previous analysis, bulls have held very well above the important 67k support level.
At the time of writing, the price is 71k, once more facing the established resistance.
A break of this level is expected, and a rise of at least 20% should follow afterward.
I remain bullish as long as the price stays above 67k.
Gold- Bears remain in controlFor almost three weeks now, gold has been trading within a range between 2325 and 2355, with spikes in these zones being bought or sold.
Yesterday, at the New York close, the price broke below horizontal support but reversed back above it during overnight trading.
Although both dips below support proved to be false breaks, the overall structure remains bearish.
My outlook remains the same: sell rallies, and only a break above 2365 would halt this correction of the long-term bull trend.
In conclusion, in the short to medium term, I remain bearish.
Gold- correction could be over soonAs explained in my latest video and written analysis, gold may have changed its trend. However, considering the 1000-pip drop from last week, a correction could occur.
Indeed, the price started to rise after hitting a low of 2325 and reached a high around the 2360 zone. This rise is clearly corrective in nature, and gold could soon drop again in a new downward leg.
The sell zone is between 2365 and 2375, with a target for bears at the 2300 level. I remain bearish as long as the price stays below 2380 on a daily closing basis.
Gold could have change the trend in mid-termAs explained in yesterday's video, after a short-term consolidation above 2400, which formed a descending triangle, OANDA:XAUUSD dropped significantly in the middle of last week, reaching the 2330 support zone and forming a large bearish engulfing pattern on our weekly chart.
There is a likelihood of a mid-term trend reversal, with the price potentially falling below 2300 to revisit the 2280 support zone.
My strategy is to sell during rallies, with the negation of my view above 2380.
ICP- Good buying opportunityAs you know from my previous 3-4 posts on BINANCE:ICPUSDT , I am very bullish on this project and expected the price to reach $20.
Indeed, this has happened, followed by a strong 50% correction after reaching my target.
Now, the price is trading at $12 and is near a strong support level, both technically and psychologically, around $10.
In my opinion, these prices offer a good buying opportunity and in the event of a reversal and a retest of the $20 zone, a 100% gain could be achieved.
GbpUsd near a very important breakThe break of support on April 12 proved to be a false one. After establishing a higher low at the beginning of May, FX:GBPUSD is once again trading near resistance.
A break above this resistance would be significant, as the price has reversed from this level multiple times, and it also aligns with the falling trend line.
I will remain bullish as long as the price stays above 1.26, and I am looking for a rise above 1.3.
Gold- Near an important pointAfter breaking above the resistance of the falling channel, OANDA:XAUUSD started the week with a new all-time high.
The bulls managed to maintain the price above the crucial 2400 level for three days.
However, yesterday's trading session ended with a significant drop of 500 pips, pushing the price back below 2400.
Although the overall structure remains bullish, the price is now trading close to an important zone between 2355 and 2360.
If the bulls also lose this level, the price could drop further, potentially falling below 2300.
While my outlook remains bullish, I am very cautious.
SE Sea Limited Options Ahead of EarningsIf you haven`t bought SE before the previous earnings:
Then analyzing the options chain and the chart patterns of SE Sea Limited prior to the earnings report this week,
I would consider purchasing the 65usd strike price Calls with
an expiration date of 2024-6-21,
for a premium of approximately $5.45.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
TCOM Options Ahead of Earnings If you haven`t bought TCOM before the previous earnings:
Then analyzing the options chain and the chart patterns of TCOM prior to the earnings report this week,
I would consider purchasing the 55usd strike price in the money Calls with
an expiration date of 2024-9-20,
for a premium of approximately $6.45.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
USDCAD BUY | Idea Trading AnalysisUSDCAD is trading along the rising support
And as the pair will soon retest it I am expecting the price to go up To retest the supply levels above at
Hello Traders, here is the full analysis.
Price reversal going up, levels for BUY. Great BUY opportunity USDCAD. ! GOOD LUCK!
I still did my best and this is the most likely count for me at the moment.
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Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝