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Bitcoin- Major false break and back to 70k after?Last week, Bitcoin broke below the important 60k support level, which coincides with the neckline of a double top. However, after an initial drop to the 53k zone, the price quickly recovered, forming a daily pin bar and leaving a double bottom on short-term time frames. Now, Bitcoin is back in the broken support level zone. Considering the quick recovery, in my opinion, this will prove to be a false break, not a test and continuation downwards. I am looking to buy dips against the recent low with a target around 70k.
BITSTAMP:BTCUSDLong
by Mihai_Iacob
2
GbpNzd could rise and test 2.12 resistance (1:3 R:R)Since the beginning of the year, GBP/NZD has been on an upward trajectory, making higher lows and higher highs on the daily chart. Last week, the pair briefly dropped below support, but this was a false break, strongly reversed by Friday's price action. Currently, a new higher low seems to be forming. In my opinion, the pair will continue its upward movement and test the previous high around 2.12. My strategy is to buy on dips against the recent low, aiming for a 1:3 risk-to-reward ratio.
Long
by Mihai_Iacob
3
XauUsd and my bearish scenariosDespite recent fluctuations, my medium-term bearish outlook on gold remains firm. Last Friday’s NFP report caused a spike that hit my stop loss at 2390, leading me to temporarily exit the market. My Scenarios: Rise and Sell: Gold may rise to test 2400 or higher. If it shows weakness at this level, I'll look for a selling opportunity, targeting a drop back to the support level(around 2300) Consolidation and Drop: If gold fails to break above the recent high, I expect a drop to support (2300), marking this new high a strong ceiling level. Daily Time Frame: On the daily chart, yesterday’s drop negated the NFP rise, reinforcing my bearish outlook. If gold rises again above 2400, in my opinion it’s unlikely to hold gains, also suggesting a continuation downward.
OANDA:XAUUSDShort
by Mihai_Iacob
6
UsdJpy- Don't p..s against the wind!If there has been a clear trend in the past two years, it has been the devaluation of the JPY. Despite some corrections, even very deep ones, the trend has always resumed, leading to new lows for the JPY. One of these deeper corrections occurred at the end of last year, triggered, as always, by JPY repatriation. However, as shown on the chart, the beginning of 2024 saw the resumption of the upward move. Only the BoJ intervention at the end of April and beginning of May at the 160 level stopped the ascent. The chart shows that the pair has been acting very technically since then, with the drop stopping and reversing precisely at the horizontal support that was previously resistance. Since then, USD/JPY has started making higher lows again and is now trading around 160. Only time will tell if the BoJ will be determined to defend this level but, in my personal opinion, it is better to look to buy on dips (around 158) rather than sell at this resistance, hoping for another intervention.
by Mihai_Iacob
Gold could test above 2400 once moreThe 2290 zone has proven to be very strong support for gold and bulls regained control from that area. Last week, XAU/USD continued its ascent, and Friday's NFP brought a new rise, breaking above the 2365-2370 resistance zone and closing the week at 2391. Currently, the structure is bullish with confluence support at 2365. Although I don't foresee sustained gains above 2400 in the medium term, a new test of levels above this important threshold is likely in the near term. Short-term traders could consider buying dips near the support, with invalidation below Friday's low.
OANDA:XAUUSDLong
by Mihai_Iacob
1
Bitcoin- The Good, The Bad and The UglyAs I mentioned in my previous posts, I am bullish on Bitcoin and expected a break above $71,000 with a rise to at least $85,000. However, I always consider multiple scenarios. In this post, I want to discuss all the potential outcomes I foresee. The Good Scenario: As shown in the chart, although the price dropped again from the all-time high resistance, the bulls have strongly defended the $67,000 support level that I've been emphasizing. If the price recovers and reaches the resistance level again, it is likely to break above, targeting at least $85,000. The Bad Scenario: In this scenario, the bulls fail to defend the $67,000 support zone. If this happens, the price will likely drop to the $60,000 zone. The Ugly Scenario: In this scenario, all the price action since mid-March could be viewed as a long distribution phase. If Bitcoin also loses the $60,000 support, we could see a significant decline, potentially down to around $45,000.
BITSTAMP:BTCUSD
by Mihai_Iacob
11
XAUUSD we got the breakout! we entered just here ... good evening gold gang hope you're well! a good afternoon on the charts taking buys up to the sell zone and a sell too .. all in a days work. Soon as that daily trend was broken i was in there like swimwear .. beautiful 100 pips id like to see that zone break to buy up to the top zone tommorrow on US bank holiday ... there is always volume on bank hols so i will be trading on the build up to NFP breaks below the trend and ill sell back down to some structure thats it ... easy as peas ... hit the follow button if you like my style ... no BS just easy to follow analysis and execution during the day catch you in london tom
OANDA:XAUUSD
by tommyXAU
1
Gold in tight range againAs expected, last week gold dropped once more below 2300. However, after this new dip, bulls quickly took control, and the price swiftly rose to the familiar 2330 zone. Since Friday, the price has been ranging between 2320 and 2335, and a breakout in either direction could determine the future trend. A break above 2335 could lead to a new test of 2370, while a break below 2320 would expose 2300. At this moment, I am out of the market, waiting for more clarity.
OANDA:XAUUSD
by Mihai_Iacob
XauUsd- Still in consolidation. What could be next?After a strong 400-pip drop on Friday, which suggests that bears are still in control, OANDA:XAUUSD reversed exactly at the minor ascending trend line. However, after reaching the lower boundary of my sell zone, the price started to roll back down and tested the trend line once more during the overnight trading session. A price break below 2320 would confirm the beginning of a new leg down and could lead to acceleration. As explained in yesterday's post, 2285 could be the first target for bears, with a possible extension to the 2200 zone in the medium term. My strategy remains to sell during rallies.
OANDA:XAUUSDShort
by Mihai_Iacob
4
USDJPY Sell | Trade SetupUSDJPY is moving in an ascending channel between the trend lines. The price has reached the resistance level, which has already acted as a reversal point. We expect a decline. Hello Traders, here is the full analysis. I think we can soon see more fall from this range! GOOD LUCK! Great SELL opportunity USDJPY I still did my best and this is the most likely count for me at the moment. ------------------- Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝
Short
by TheGrove
1
Gold- Real break under 2300 this week?As you know, I have been bearish on gold for more than two weeks now. Not only has this opinion remained unchanged, but it has also been reinforced by last week's price action. As seen in the posted chart, after dropping below the 2300 zone, gold started a normal correction. Importantly, last week, we experienced a false break above the 2340 resistance, resulting in a strong bearish engulfing pattern on our daily chart. The week closed exactly on the ascending trend line of the correction that started after the 2385 low, and now the price is in a normal rebound. This rebound could give us an opportunity to open short trades against last week's high. For short-term targets, 2385 could be a good point for booking profits. However, I am convinced that, after a clear break below 2300, gold will drop significantly and reach the 2200 zone.
OANDA:XAUUSDShort
by Mihai_Iacob
3
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. ------------------- Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝
Short
by TheGrove
1
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!
OANDA:XAUUSD
by Mihai_Iacob
7
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.
OANDA:XAUUSDShort
by Mihai_Iacob
4
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.
Short
by Mihai_Iacob
1
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.
OANDA:XAUUSDShort
by Mihai_Iacob
10
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.
TVC:DXYLong
by Mihai_Iacob
1
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.
OANDA:XAUUSDShort
by Mihai_Iacob
1
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. »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Sincerely.❤️ »»»«««»»»«««»»»«««
WLong
by UnknownUnicorn7266498
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.
OANDA:XAUUSDShort
by Mihai_Iacob
9
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.
BITSTAMP:BTCUSDLong
by Mihai_Iacob
4