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FILUSD Accumulation almost over. Next stop $19.00.Filecoin (FILUSD) has been consolidating around its 1W MA50 (blue trend-line) for the past 4 weeks and appears to be at the end of the Lower Highs pattern similar to the one in 2019/20. Both patterns held FIL's historic Support Zone, printed identical 1W RSI Cup formations and the past pattern initiated a strong 1-year rally above the Symmetrical Resistance Zone once the Lower Highs broke. Essentially the Descending Triangle patterns are Accumulation Phases before the Bull Cycle's main rally. As a result, even though one last test of the Support Zone is technically viable, the upside at this time is already considerably greater than the risk involved, so in our opinion it is worth going long and have a modest 1W MA200 (orange trend-line) Target at $19.00. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:FILUSDLong
by TradingShot
GOLD: Buy or Sell ?Dear friends, Ben here! Gold begins the new week with a slight decline, retreating from the one-month high reached on Friday. Hawkish expectations from the Fed, rising U.S. Treasury yields, and a stronger USD are weighing on the precious metal in the short term. On the other hand, risk-off sentiment might provide support for the safe-haven pair XAU/USD and help limit further losses. :) From a technical perspective, gold confirmed a bullish breakout from a month-long symmetrical triangle pattern on January 8, further reinforcing the ongoing bullish momentum. It is likely that the struggle will continue, and the price may retest the previously broken boundary or the liquidity zone at 2675–2665, which will determine the next phase of developments. Resistance level: 2698 Support levels: 2685, 2665 The situation remains volatile, as numerous factors are exerting pressure on the price. Accordingly: If, after the retest, buyers manage to hold the price above the 2680–2685 support zone, the upward momentum could continue in the medium term. However, if the bullish support structure breaks and sellers push the price below 2680, this could trigger a correction down to 2665 or 2650 before the uptrend resumes.
OANDA:XAUUSDLong
by Bentradegold
2
S&P500 This is why 2025 will be Bullish.The S&P500 index (SPX) just hit its 1W MA25 (red trend-line) for the first time since the August 05 2024 Low (5 months ago). This is a major long-term Support trend-line, the first one out of a total three. As you can see on this chart, the index has been trading within a Channel Up on the log scale ever since the bottom of the 2008/09 Housing Crisis. During this pattern, it has gone through phases of strong and extended Bull where the 1W MA25 and 1W MA50 (blue trend-line) offers the Support Zone and every test is a buy opportunity and when those break, the Bear phase starts, which finds Support on the 1W MA200 (orange trend-line), with the exception being of course the non-technical, once in 100 years event of the March 2020 COVID flash crash. It is now the 1W MA25 that comes as the first major Support level and with the 1W RSI forming the same kind of Channel Down divergence as early 2014, we expect further extension of the current Bull Phase into 2025. In fact, every Bull Cycle has either increased by roughly +100% or +62% and since the current one is way over +62%, it is fair to expect that it will pursue the +100% mark. That is currently exactly at 7000 and could be achieved by the end of 2025 as every previous Cycle Top was priced towards the end its year with a frequency of either 3 or 4 years. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:SPXLong
by TradingShot
1
EURCAD: Bearish Setup at Key ResistanceEURCAD is consolidating after a sharp rebound from lower levels, but the overall structure still hints at a bearish setup. The price is now approaching a key resistance zone around 1.5000–1.5120, a level where sellers have historically shown strong activity. Will the resistance hold, or will buyers push further? The reaction here will be critical. The current setup suggests that the price may retest the resistance zone before being rejected and starting a move toward the support at 1.4862. A break and consolidation below this level could open the way toward deeper support around 1.4700 and potentially lower. However, a breakout and consolidation above 1.5120 would invalidate the bearish scenario and signal a potential continuation of the bullish trend.
Short
by TrendDiva
Lingrid | ETHUSDT expecting Short-Term CORRECTION BINANCE:ETHUSDT market recently dropped and tested the psychological level of 3000. It briefly broke through the previous support level but then pulled back. However, we’re not seeing any bullish momentum from this area, indicating there may be fewer buyers. As a result, the market could establish a range zone for accumulation. I think the market is likely consolidate around this support level. Since the range zone acts as both support and resistance, I expect the price to reverse and retest the 3000 level. On the daily timeframe, the price is forming an ABCD pullback, suggesting that the market may dip below the 2900 level. Looking back to the beginning of 2024, we can observe a similar pattern. My goal is support zone around 3000 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 Lingrid
8
NZDJPY: Bullish Setup from Key Demand ZoneThe NZDJPY pair is approaching a significant demand zone, marked by prior price reactions. This area has previously acted as a strong support level, where buyers regained control. The current market structure indicates the potential for a bullish continuation from this zone. If the price confirms a rejection through bullish price action, such as a strong bullish engulfing candle or long wicks rejecting the support, I anticipate a move toward the 88.450 level. This is a logical target for this setup aligned with the short-term bullish momentum and price recovery from the demand zone. If you agree with this analysis or have additional insights, feel free to share your thoughts in the comments!
Long
by DanieIM
EURJPY → Consolidating before dropping to 157.00OANDA:EURJPY is under pressure. This currency pair has broken its local uptrend. In the context of weak fundamental and technical foundations, overall market pressure may be experienced. On the global timeframe, the pair lacks a clear trend and has been trading mainly within the range of 166 - 156. A closer look reveals that the recent growth attempt failed near the intermediate high. As the price approached a local resistance level, it reversed and stabilized below the EMA, moving toward the lower boundary of the flat range. Locally, a structural shift has confirmed the bearish nature of the market. However, before further declines, the price may form a corrective move. Using Fibonacci levels to measure this potential correction, the short-term levels to watch are 0.618 (161.75) and 0.5 (162.28). In the medium term, however, the decline may continue. Rate, share your opinion and questions, let's discuss what's going on with OANDA:EURJPY :) Regards R. Linda!
Short
by Bentradegold
Gold could drop back to 2600Last week was a particularly choppy one for gold. While the 2680 target was reached and even exceeded, with a peak near the critical 2700 level, trading conditions were difficult due to sharp and unpredictable price movements in both directions. Yesterday, the price dropped significantly, forming a clear bearish engulfing pattern on the daily chart. When combined with last week's choppy price action, this indicates we may be on the verge of a downside reversal. My strategy is to sell during rallies, targeting 2600, with a stop loss or invalidation level above 2700.
OANDA:XAUUSDShort
by Mihai_Iacob
3
Lingrid | GOLD Weekly Technical AnalysisOANDA:XAUUSD market closed above the highs of the past three weeks, forming a nice ABCD pattern. This suggests that the price may be gearing up to test the psychological level at 2700. Looking to the left on the chart, we can see that this area has acted as a resistance level twice before. Given the current consolidation phase, it's possible that the price may bounce off the top of the range zone. In the coming week, we have high-impact news that could significantly influence price movements. On the daily timeframe, the market is hovering near a key swap zone, where price changes direction multiple times. I anticipate that the price will consolidate until at least the end of this month or the US presidential inauguration. As it stands, the market remains within the December range, and it's likely to continue oscillating between the top and bottom of this range. Overall I look for the selling opportunity at the resistance zone. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
OANDA:XAUUSDShort
by Lingrid
15
USD soars, GOLD corrects but conditions remain bullishAfter last week's surge, OANDA:XAUUSD Spot trading suddenly suffered a fierce correction and the upward momentum was limited. US bond yields soared, the US Dollar strengthened and investors' profit-taking activities affected the trend of gold. In addition, news of a ceasefire in the Middle East also negatively impacted gold prices. OANDA:XAUUSD fell again as US Treasury yields rose to their highest since November 2023. The US Dollar Index surpassed 110.00 in trading on Monday, pressuring gold prices. The dollar index rose to its highest since November 2022 after the US jobs report emphasized the strength of the economy and clouded the prospect of interest rate cuts by the Federal Reserve. A rising Dollar will make gold less attractive. The latest New York Fed survey shows one-year inflation expectations at 3% and interest rate futures traders are pricing in a Fed rate cut this year of less than 25 basis points. copies, or less than once. Because gold does not generate interest, a high interest rate environment reduces its appeal to investors. A ceasefire in Gaza could take place as early as this week White House national security adviser Jake Sullivan told Bloomberg on Monday that the Biden administration believes a ceasefire in Gaza could be reached as early as this week. He added that there was no guarantee that all parties would agree to such a deal. In an interview with Bloomberg, Sullivan said US President Joe Biden's administration has contacted Trump's newly elected team and is looking to form a united front on this issue before the transfer of power in Washington on January 20. Previously, Britain's Reuters quoted officials familiar with the negotiation process as saying on Monday that mediators had submitted a draft "final agreement" to the warring parties on a ceasefire and the release of children. believe. Officials said that in addition to delegations from both Israel and Kazakhstan, current US President McGurk and President-elect Trump's Middle East envoy Steve Witkoff were also present at the peace talks. hosted by Qatar Prime Minister Mohammed in Doha. Reuters said the talks achieved a breakthrough after midnight on Sunday and mediators led by Qatar immediately submitted a draft ceasefire agreement to Israel and Kazakhstan. Analysis of technical prospects for OANDA:XAUUSD Although gold has adjusted down significantly from the important confluence level, readers should pay attention to previous publications at the Fibonacci retracement of 0.382% confluence with the upper edge of the green price channel and one side of the triangle. purple price. But the downside correction was also limited after reaching target support at the 0.50% Fibonacci retracement level. Currently, gold is recovering from the 0.50% Fibonacci level, but first it needs to break the technical point of 2,676 USD, then the target is around 2,693 - 2,700 USD in the short term. Up to now, gold still has conditions to increase technically with supporting factors from EMA21, POC Volume Profile and the green short-term rising price channel. Along with that, the Relative Strength Index maintained its activity above 50, also quite far from the overbought area, showing that there is still room for price increases ahead. During the day, the technical outlook for gold is bullish with notable points listed as follows. Support: 2,664 – 2,650USD Resistance: 2,693 – 2,700USD SELL XAUUSD PRICE 2688 - 2686⚡️ ↠↠ Stoploss 2692 →Take Profit 1 2681 ↨ →Take Profit 2 2676 BUY XAUUSD PRICE 2644 - 2646⚡️ ↠↠ Stoploss 2640 →Take Profit 1 2651 ↨ →Take Profit 2 2656
OANDA:XAUUSD
by Xayah_trading
GOLD has bullish conditions, pay attention to inflation dataOANDA:XAUUSD is accumulating upward momentum, rising to a new multi-week high above $2,680 an ounce. The technical outlook shows that gold prices have shifted to an uptrend in the near future. Next week, key economic indicators from China and the US inflation data will likely drive gold price movements. The US government on Friday released a nonfarm report showing 256,000 new jobs were created last December, far higher than the expected 160,000 and the biggest increase in nine months. The unemployment rate in December was 4.1%, also the lowest with an expected value of 4.2%. Reasons for OANDA:XAUUSD The recovery after Friday's decline was due despite stronger-than-expected US nonfarm payrolls data, reducing the likelihood of a sharp interest rate cut by the Federal Reserve this year. However, the Trump administration's upcoming policies have brought uncertainty, increasing gold's safe-haven appeal. It can be quite certain that, as soon as Trump takes office, a series of major changes in US economic and foreign policy will suddenly change and gold will always benefit in an economically unstable environment. geopolitics. Gold investors will wait for US inflation data Early next week, investors will pay attention to China's December trade balance data. A significant increase in China's trade surplus could support gold prices during the Asian session next Monday. Next Wednesday, US December inflation data could trigger gold's next big move. The market expects the US Consumer Price Index (CPI) to rise 0.3% month-on-month in December, but core CPI to fall 0.1% over the same period. If CPI is higher than expected, the immediate market reaction could boost the USD and cause gold to fall. On the other hand, negative data could make it difficult for the USD to find demand and help gold maintain its position or push gold prices higher. Gold investors will wait for US inflation data Early next week, investors will pay attention to China's December trade balance data. A significant increase in China's trade surplus could support gold prices during the Asian session next Monday. Next Wednesday, US December inflation data could trigger gold's next big move. The market expects the US Consumer Price Index (CPI) to rise 0.3% month-on-month in December, but core CPI to fall 0.1% over the same period. If CPI is higher than expected, the immediate market reaction could boost the USD and cause gold to fall. On the other hand, negative data could make it difficult for the USD to find demand and help gold maintain its position or push gold prices higher. China's fourth-quarter gross domestic product (GDP) data could influence gold trends during the Asian trading session next Friday. Analysts expect China's annual GDP growth rate to reach 5.1% in the fourth quarter, higher than the 4.6% growth rate in the third quarter. A positive surprise could help gold prices edged higher, while disappointing GDP data could weigh on gold prices. Market participants will also pay attention to new developments surrounding Trump's tariff strategy. While gold benefits from risk aversion, a sharp rise in US Treasury yields could limit gold's gains. The economic calendar needs attention next week Tuesday: US PPI Wednesday: US CPI, Empire State Manufacturing Survey Thursday: US Retail Sales, Philly Federal Reserve Survey, Weekly Jobless Claims Friday: Housing construction starts and construction permits in the United States Analysis of technical prospects for OANDA:XAUUSD From a technical perspective, on the daily chart, gold has achieved conditions for a short-term uptrend although the upward momentum is being hindered by the 0.382% Fibonacci retracement level. And once gold breaks above $2,693 it will be ripe for upside with a target of around $2,730 in the short term. In terms of support factors, the POC Volume Profile level will be the closest support, combined with the EMA21 and Fibonacci 0.618% creating a reliable support area for each correction to ensure that, as long as gold does not If it breaks below the 0.618% Fibonacci level, it still has the potential to increase in price in the near future. Meanwhile, the Relative Strength Index is also pointing up from level 50, still quite far from the overbought level with a significant slope, this is a signal for room for price increases in the near future. On the other hand, an uptrend price channel has also just been formed. In the coming time, the technical outlook for gold tends to increase in price with notable levels listed as follows. Support: 2,676 – 2,664USD Resistance: 2,693 – 2,700USD SELL XAUUSD PRICE 2711 - 2709⚡️ ↠↠ Stoploss 2715 →Take Profit 1 2704 ↨ →Take Profit 2 2699 BUY XAUUSD PRICE 2661 - 2663⚡️ ↠↠ Stoploss 2657 →Take Profit 1 2668 ↨ →Take Profit 2 2673
OANDA:XAUUSD
by Xayah_trading
1
EURJPY – Potential Buy Opportunity at Support LevelThe EURJPY pair is trading near a key demand zone which has acted as strong support during previous price actions. This area has historically attracted buyers, making it a significant zone for potential bullish reversals. The recent bearish momentum has brought the price into this demand zone. If bullish confirmation appears, such as candlestick reversal patterns (e.g., bullish engulfing or long lower wicks), the price could see a recovery. A potential target for this bounce would be the 161.654 level, which represents a logical target for this setup. Do you see this playing out, or would you approach it differently? Share your thoughts and analysis in the comments below!
Long
by DanieIM
EURUSD: Pullback before the crash!The EUR/USD continues its downward trend, recently touching a new cycle low around 1.0176 as the US Dollar maintains its relentless rally, fueled by rising expectations that the Federal Reserve will keep interest rates elevated for an extended period. The Greenback’s strength has been amplified by a fifth consecutive bullish session, with the DXY surpassing the critical 110.00 level. Investors have sharply revised their outlook on Fed policy, reducing the probability of significant rate cuts in the near term. This shift in sentiment follows a robust Nonfarm Payrolls report and hawkish remarks from Fed officials, emphasizing the priority of taming inflation before contemplating further easing. On the policy front, while the Fed recently trimmed its benchmark rate to 4.25%-4.50%, Chair Powell’s cautious tone during the final press conference of 2024 left markets in little doubt that any future rate cuts will be gradual. Powell underscored the need to anchor inflation closer to the 2% target and pointed out that despite some softening, the labor market remains resilient. This narrative has bolstered USD demand and widened the divergence with the European Central Bank’s stance. In contrast, the ECB faces mounting pressure to sustain its easing cycle amid a deteriorating economic outlook across the eurozone, particularly in Germany, where industrial performance has been lackluster. Despite a marginal rise in inflation figures for December, ECB policymakers seem committed to prioritizing growth over inflation control in the short term. This divergence in central bank policies has created a headwind for the euro, further weakening EUR/USD and increasing the likelihood of a test of parity. Adding to the complexity, potential trade policy shifts under the incoming US administration could inject additional volatility. Proposals for renewed tariffs could stoke inflationary pressures in the US, compelling the Fed to adopt a more aggressive tightening stance. Such a scenario would exacerbate the euro’s struggles, as a stronger USD and continued ECB easing would widen the interest rate differential between the two economies. Looking ahead, the focus will remain on key data releases, including US CPI and Retail Sales, alongside eurozone Industrial Production and German inflation data. These reports will offer crucial insights into the respective economic trajectories and may set the tone for future price action. However, in the current context, the EUR/USD appears poised to remain under pressure as the fundamental backdrop heavily favors the Greenback. Until there is a significant shift in economic or policy expectations, the pair may continue its march towards parity.
Short
by Forex48_TradingAcademy
1
Bouncing Back: Steps To Overcoming A Trading Losing StreakThe probability theory suggests that under perfectly equal conditions, your trades should be successful 50% of the time. However, market conditions rarely offer such perfect equality. During an upward trend, for instance, you might open ten short positions only to find them all unprofitable. This illustrates why probability theory alone doesn't translate well to trading. What does work, however, is mathematical statistics, including concepts like expected value and other analytical parameters. So when you encounter a series of losing trades, resist the urge to blame the market or bad luck. Instead, recognize that you might have overlooked certain factors or made calculation errors. The good news? These mistakes can be identified and corrected. 📍 How to Recover After a Series of Losing Trades 1. Step Away from Trading Temporarily The first and most crucial step is to step away from trading temporarily. This might seem obvious, yet it's often the hardest advice to follow. If you're experiencing losses regardless of whether you take long or short positions, it's time to pause. The market's volatility isn't always to blame – this break gives you valuable time to analyze what's really happening. However, executing this pause requires genuine willpower. Simply shutting down your computer isn't enough – the temptation to restart it after ten minutes can be overwhelming. Instead, make a clean break: go for a walk outside or immerse yourself in completely different activities. This physical and mental separation is essential for gaining a fresh perspective. 🔹 Define Your Consecutive Loss Limit. Your trading style and personality should determine how many consecutive losses you can tolerate before stepping back. For fast-paced scalping and intraday trading, consider pausing after 3-5 consecutive losses. If you're trading bigger timeframes, you might want to stop after just 2-3 losing trades. 🔹 Establish Clear Daily Loss Thresholds. Restrictions can be based on both trading frequency and capital loss. For example, set a firm rule to stop trading for a day as soon as your account drops by 3%. This will prevent you from making emotional decisions and protect your trading capital, especially if you trade prop firms. 🔹 Leverage Your Backtesting Data. Some trading strategies naturally experience small consecutive losses before capturing a larger winning trade that offsets previous setbacks. Use platforms like TradingView to backtest your strategy and understand its historical performance patterns. Pay attention to: The longest historical losing streaks Average loss sequences Expected drawdown periods If your current trading results deviate significantly from these historical patterns, that's your signal to pause and reassess. Remember: Success in trading isn't about gut feelings – it's about mathematical precision and disciplined execution. 2. Analyze Your Trades Over the Period It's important to remember that you haven’t always incurred losses, so take the time to evaluate the current losing streak and compare it with previous trading periods. Look for any discrepancies or patterns that may emerge. 🔹 Fundamental Factors. Identify the fundamental elements that influenced both your profitable and losing periods. 🔹 Indicators Used. Assess the indicators that were applied in both scenarios. If you used the same indicators during profitable and losing trades, analyze where the error occurred. 🔹 Stop Losses. Review the stop-loss levels you set. What led to the losses in these trades? When using your trading simulator, pay attention to specific metrics: ⚫️ Recovery Factor. This is the ratio of absolute profit to maximum drawdown. ⚫️ Profit Factor. This metric represents the ratio of total profit to total loss. ⚫️ Average Profit to Average Loss Ratio. Evaluate this ratio to understand your trade outcomes better. For the most effective analysis, focus on H1 or bigger timeframes. Analyzing trades over these extended periods allows you to discern the logic of trends, identify key levels, and gain insight into market psychology. 3. Identify Problem Areas It's essential to pinpoint the areas causing difficulties in your trading. Reflect on the psychological aspects at play: What’s bothering you? What feels off or frustrating? Sometimes, intuition can provide valuable insights as well. 🔹 Unprofitable Trading System. Market volatility may have changed, rendering your current indicator settings ineffective and leading to a non-profitable trading system. 🔹 Emotional Decision-Making. Emotions can sometimes drive you to deviate from the predetermined rules of your trading plan. 🔹 Absence of a Trading System. This is a critical mistake. It’s not just about having a strategy; a comprehensive trading system outlines your actions in unexpected situations. Be aware of potential issues such as wide stop losses, leverage that increases losses, or "strange" trades that deviate from your established setups. There are numerous variations of these problems, and your task is to identify and address them. 4. Develop a Corrective Plan Now that the analysis is complete and the main issues are identified, it’s time to address them. Avoid resuming trading at previous volumes immediately. Your goal is to test the revised trading strategy while minimizing risk. At this stage, profitability is secondary; the focus should be on ensuring that the strategy works. 🔹 Open Trades with Minimum Lot Sizes. Use leverage strategically, only to manage your exposure to Level and Margin effectively. 🔹 Implement Minimal Stops. This approach helps in risk reduction. However, ensure that stops are set within reasonable limits to avoid constant triggering from market fluctuations. Focus on average volatility to determine appropriate stop-loss levels. 🔹 Avoid Rushing into Maximum Trades. Prioritize the quality of trades over quantity. It’s more important to make well-considered decisions than to engage in numerous trades. 🔹 Stick to Your Action Plan. Consistently ask yourself key questions: Why am I opening this trade? Am I sticking to all the rules? What outcome am I aiming for? What constitutes an acceptable loss for me? For testing integrity, it is recommended to implement these changes on a real account as it develops a greater sense of accountability. 5. Focus on the Psychological Aspect Maintaining a focus on positive outcomes is crucial for success in trading. Just as a person afraid of falling off a bike will likely do so, a negative mindset can breed inevitable failures. Instead, you must cultivate confidence in positive results and adopt a constructive attitude. And if you do face setbacks, dust yourself off and continue your journey toward success. Believing in your ability to succeed is often the greatest challenge. Embrace self-belief and trust in your strength. 🔹 Avoid External Influences. Steer clear of forums and social media platforms like Instagram. Remember, you are the one making trading decisions. Listening to others can lead to FOMO and self-doubt, which can hinder your performance. 🔹 Utilize Affirmations. Regularly affirming your potential for success can significantly increase your chances of achieving it. Positive self-talk is a powerful tool in building confidence. 🔹 Take Time to Rest. Rest is essential for maintaining a healthy mindset. While meditation is beneficial, it's often overlooked; try to incorporate it into your routine, even if just for a few minutes each day. 🔹 Be Mindful of Your Nervous System . A lively nervous system can be advantageous, but excessive stimulants like caffeine can backfire. If you experience high blood pressure, caffeine may exacerbate nervousness and further overstimulate your system. 📍 Conclusion A loss is not a verdict; it is an opportunity for growth. The fact that brokers often indicate a loss rate of 60-85% among traders highlights that many are unwilling to invest the time and effort necessary to learn from their mistakes. Often, these traders give up at the first sign of failure. In contrast, the remaining 15-40% consist of those who, through hard work, patience, and persistence, transition from beginners to professionals. Don't be deterred by losses—they can be temporary if you take the time to analyze and understand their causes. Additionally, don’t succumb to pessimism; a successful trader maintains a positive mindset and embraces challenges. Remember, perseverance in the face of adversity is often the key to long-term success in trading. Traders, If you liked this educational post🎓, give it a boost 🚀 and drop a comment 📣
Education
by Lingrid
8
XPTUSD - Testing Key Resistance Level – Potential SellThe XPTUSD pair is currently approaching a key resistance level, a level that has historically acted as a strong supply area. The recent bullish momentum appears to be slowing as the price approaches this resistance. If a rejection occurs, indicated by bearish candlestick patterns (such as a bearish engulfing or long upper wicks), the price could reverse toward the $956.212 level. This setup aligns with the idea of trend exhaustion near resistance, creating a potential short opportunity for traders looking to capitalize on a retracement. Let me know your thoughts on this analysis! Do you see a different outcome, or would you adjust the target? Share your insights in the comments below!
OANDA:XPTUSDShort
by DanieIM