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ALGOUSD Bull Flag giving a new opportunity to buy.Algorand (ALGOUSD) posted last week its first red 1W candle after an impressive rally of 5 straight green weeks since the U.S. elections. This rally technically stopped on the 1W MA200 (orange trend-line), as although it crossed it, it failed to close the 1W candle above it, which resulted in last week's rejection and red candle. The 1W RSI turned from extremely overbought (+85.00) to about turn just bullish below the 70.00 barrier. The last time we saw a similar price/ 1W RSI behavior was during the November 2020 - February 2021 rally. As you can see, both started on Bull Flag formations that initiated those impressive rallies that were supported by the 1W MA50 (blue trend-line). When the February 08 2021 1W RSI hit 85.00 and got rejected, the price started a new Bull Flag pattern that by June 21 2021 hit the 1W MA50 and after forming a multi-week Support base, it rebounded again aggressively. The whole sequence from the November 2020 rally to the November 2021 Top was a +1200 rise. We expect a similar development and as the dominant historic pattern of Algo seems to be a Channel Down, the next rally can complete a +1200% rally just below the pattern's top (Lower Highs trend-line) at $1.200. ------------------------------------------------------------------------------- ** 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:ALGOUSD
by TradingShot
1
Lingrid | EURUSD in CONSOLIDATION zoneFX:EURUSD bounced off a support level, influenced by a day of significant news regarding the Euro. Overall, the market is in a consolidation phase as we approach the end of the year. It appears likely that the market will remain within last week's trading range. However, if we see a rejection signal at the support level and the downward trendline, we could expect a potential upward movement. This would suggest that the market may oscillate between the highs and lows of the consolidation zone. I anticipate the market will rise since the price has broken out of the falling wedge pattern. My goal is resistance zone around 1.05620 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Long
by Lingrid
1
Ethereum towards new ATH?After testing the resistance above 4,000, the flash crash in Alts impacted ETH/USD as well, resulting in a sharp drop to 3,500. However, the strong support established at this level held firm, preventing further declines. Now, the price is approaching the resistance zone once again. At this point, it seems the bulls are gaining momentum, making a breakout above the resistance highly likely. If this breakout materializes, the price could accelerate significantly, with 5,000 emerging as the next logical target.
COINBASE:ETHUSDLong
by Mihai_Iacob
2
Lingrid | BITCOIN building LIQUIDITY for the ATH RetestBINANCE:BTCUSDT made a sharp downward spike before the market stabilized. Prior to this movement, the price formed a triangle pattern. Currently, the price is pulling back to retest the midpoint of the pattern, which often acts as a support and resistance zone. On the daily timeframe, the market dipped below the previous daily low, indicating a potential upward movement. If the market successfully rejects the support level and the downward trendline, we can anticipate a price increase that could potentially test the upper boundary of the channel. My goal isresistance zone around 105,000 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Long
by Lingrid
12
An exciting week with many important economic data.World gold prices decrease when the USD increases. Recorded at 9:40 a.m. on December 16, the US Dollar Index measuring the fluctuation of the greenback with 6 major currencies was at 106,570 points (down 0.11%). According to Naeem Aslam - investment director of Zaye Capital Markets, gold investors should mentally prepare for the possibility of gold prices weakening next week. The main reason comes from the US Federal Reserve (FED) reducing expectations about cutting interest rates, in the context of inflation still being "persistent". Lukman Otunuga - market analyst at FXTM - gave a neutral comment on gold prices in the short term. According to him, the trend of this precious metal will largely depend on the policy message that FED officials give in the upcoming meeting. Otunuga emphasized that, if the FED continues to maintain its "hawkish" stance, this could limit the ability of gold prices to increase as investors gradually narrow their expectations for stronger interest rate cuts next year. 2025. On the contrary, if the FED signals to loosen policy in 2024, gold prices could increase to 2,700 USD/ounce or higher. 🔥 XAUUSD SELL 2656 - 2654🔥 💵 TP1: 2630 💵 TP2: 2610 💵 TP3: OPEN 🚫 SL: 2665
OANDA:XAUUSDShort
by FalCol_TradingMaster
GBPCAD SELL | Idea Trading AnalysisGBPCAD is moving on support zone The chart is above the support level, which has already become a reversal point twice. We expect a decline in the channel after testing the current level. We expect a decline in the channel after testing the current level Hello Traders, here is the full analysis. I think we can soon see more fall from this range! GOOD LUCK! Great SELL opportunity GBPCAD 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
5
Bullish Patterns and Bitcoin: A Roadmap to $125KAs anticipated by many, following Trump’s election, Bitcoin experienced a significant surge. On November 14th, it encountered its first notable correction during this upward momentum. In early December, Bitcoin crossed the critical 100k milestone for the first time. However, this achievement was followed by a swift pullback. Since then, dips have consistently been met with strong buying activity, and as of now, the price has stabilized comfortably above this key psychological level. The price action since mid-November reveals the formation of an ascending channel, a technical pattern that historically suggests a 70% probability of continuation to the upside. A decisive breakout above 107k could confirm this bullish scenario, with a measured target for the next leg up around 125k if the pattern fulfills its statistical expectation.
BITSTAMP:BTCUSDLong
by Mihai_Iacob
EUR/USD: Awaiting the Fed for the Christmas Rally!EUR/USD continues to show weakness, hovering near weekly lows at 1.0453, reflecting an unfavorable macroeconomic outlook for the euro. The ECB's decision to cut interest rates by 25 basis points, combined with the removal of the term "restrictive" in its monetary policy stance and the projection of inflation nearing 2% on a sustainable basis, indicates a less aggressive approach by the central bank, with negative implications for the euro. Christine Lagarde also highlighted downside risks to economic growth, amplifying concerns about the Eurozone. On the U.S. front, a higher-than-expected PPI and an increase in initial jobless claims suggest a mix of inflationary pressures and potential signs of labor market softening. The dollar benefits from strong demand driven by these economic dynamics and the perception of U.S. resilience compared to the Eurozone. Technically, the pair remains in a clear downtrend. In the short term, focus shifts to Federal Reserve statements and U.S. inflation data, which could further strengthen the dollar if they confirm a more robust economic context in the U.S. compared to Europe.
Short
by Forex48_TradingAcademy
1
GOLD corrects in 2 days, still has bullish conditions next weekOANDA:XAUUSD fell as the USD held steady at its highest level in more than 2 weeks. However, the market expects the Federal Reserve will still cut interest rates next week and gold prices still have conditions for a possible increase in price. OANDA:XAUUSD has broken multiple record highs this year, supported by Fed monetary policy, strong central bank buying and safe-haven demand. Traders currently assess a 96% chance that the Fed will cut interest rates by 25 basis points at its December 17-18 meeting. Focus will also be on Chairman Jerome Powell's comments as market participants analyze US monetary policy in 2025, especially given President-elect Donald Trump's tariff plans , is very likely to add to inflation. Central banks often keep interest rates high to curb inflation, thereby increasing the opportunity cost of holding unprofitable gold. Pay special attention to the upcoming Fed interest rate decision The Fed's monetary policy statement next week could be the last major impact for gold this year outside of unforeseen geopolitical surprises. Next Wednesday, the Federal Reserve will announce its monetary policy decision after a two-day policy meeting. The Fed is expected to cut its policy rate by 25 basis points to a range of 4.25%-4.5%. The Fed will also release a revised Summary of Economic Projections (SEP), known as a Dotplot chart. In September, SEP showed that Fed officials' median forecast for the policy rate at the end of 2025 was 3.4%. If the 2025 interest rate forecast is revised downward, i.e. cutting interest rates by more than 100 basis points, it could have a direct negative impact on the Dollar and this would push gold prices higher. Markets will also be closely watching comments from Federal Reserve Chairman Jerome Powell. If Powell takes a cautious approach to further policy easing, emphasizing a gradual approach, the dollar is likely to remain strong as it remains supported by President-elect Donald Trump. On the other hand, the US Dollar will come under selling pressure if Powell expresses growing concerns about the cooling labor market and its potential negative impact on the growth outlook. Data next week Next Thursday, the US Bureau of Economic Analysis will release the final revised data on gross domestic product (GDP) for the third quarter, and next Friday will release the personal consumption expenditures price index (PCE). The economic calendar needs attention next week Monday: Empire State manufacturing survey, S&P flash PMI Tuesday: US retail sales Wednesday: Federal Reserve monetary policy decision Thursday: Bank of England monetary policy decision; US weekly unemployment claims; US Q3 GDP, Philly Federal Reserve Manufacturing Survey, Existing Home Sales Friday: Personal consumption expenditure index (PCE) Analysis of technical prospects for OANDA:XAUUSD On the daily chart, gold closed the week in a crucial position for upside as it still has bullish conditions. Specifically, the daily chart still shows that gold prices maintain activity above EMA21 and above the technical level of 2,644 USD. Note to readers in the previous edition. In addition, the Relative Strength Index decreased but stayed above 50, which does not show any negative signals. In the near term, if gold brings price activity back above the 0.50% Fibonacci retracement level, it will have the conditions to recover more to the $2,676 level in the short term, more than the 0.382% Fibonacci level and the original price point. 2,700 USD. Overall, gold still has a bullish outlook. However, a negative situation is likely to appear once gold breaks below the 0.618% Fibonacci level because it will tend to retest the 0.786% Fibonacci level with a price point of 2,591USD. Therefore, open long positions will need to be protected when this situation occurs. In the coming time, the technical chart of gold prices will be noticed by some notable patterns as follows. Support: 2,644 – 2,634USD Resistance: 2,663 – 2,676 – 2,693USD SELL XAUUSD PRICE 2680 - 2678⚡️ ↠↠ Stoploss 2684 →Take Profit 1 2673 ↨ →Take Profit 2 2668 BUY XAUUSD PRICE 2621 - 2623⚡️ ↠↠ Stoploss 2617 →Take Profit 1 2628 ↨ →Take Profit 2 2633
OANDA:XAUUSD
by Xayah_trading
GRASS 1D. Upcoming Airdrop Could Send This Token Soaring Again! The current price is in an accumulation phase, seemingly preparing for a breakout. The project is expected to conduct a second airdrop soon. During the first airdrop, the token’s price surged significantly, from $1 to $3. This time, I don’t expect as dramatic a rise, but I believe the token could reach a value between $5 and $7. Given the upcoming airdrop, I anticipate a potential price increase following this event. DYOR.
Long
by trendbooster
Solo Trading in a Frenzied Market: Avoiding the Crowd TrapIn the world of trading, the crowd effect is a serious psychological obstacle that often causes traders to lose their way. This phenomenon, where traders make decisions based on the majority's actions rather than their own analysis, can result in impulsive buying or selling. As many traders point out, such decisions often end in financial losses. 📍 Understanding the Crowd Effect The crowd effect is based on the tendency of people to obey the actions of the majority. In the trading arena, it can manifest itself when traders jump on the bandwagon and buy assets during an uptrend in the market or hastily sell them during a downtrend due to panic. While trend trading may be logical - after all, if most people are buying, it may seem unwise to resist the flow - there is a delicate balance to be struck here. Joining a long-term uptrend can lead to buying assets at their peak. This is especially evident in cryptocurrency markets, where FOMO can cause prices to rise artificially, allowing an experienced market maker to capitalize on these moments by selling off assets at peak levels. 📍 The Dangers of the Crowd Effect for Traders • Impulsive Decision-Making: Crowd-driven decisions are rarely based on careful analysis, increasing the risk of costly mistakes. • Ignoring Personal Strategy: Traders often abandon their trading plans in the heat of mass panic or excitement, forgetting the essential disciplines that guide their decisions. • Overestimating Risks: Following the herd can lead to overextended positions in the expectation of “guaranteed” profits, further increasing potential losses. • Market Bubbles and Crashes: Collective crowd behavior can lead to market bubbles and sharp declines, negatively affecting all participants. 📍 Examples of the Crowd Effect ▸ Bull Market and FOMO: During a strong uptrend, new traders may be attracted by the sight of other people buying assets. They often join the frenzy at the peak of prices and then take losses when the market corrects. ▸ Bear Market and Panic Selling: During a downturn, fear can prompt traders to sell off massively, minimizing their ability to recoup losses in a recovering market. ▸ Social Media Influence: In today's digital age, the opinions of self-proclaimed market “gurus” can prompt uncritical investment decisions. Traders may buy trending assets without proper analysis, leading to losses when prices inevitably fall. 📍 Why Traders Give in to Crowd Influence Several psychological factors underlie why traders may succumb to the crowd effect: ▪️ Fear of Being Wrong: Traders derive a sense of security by aligning with the majority, even when it contradicts their logic. ▪️ Desire for Social Approval: The inclination to conform can lead to decisions based on collective trends rather than independent analysis. ▪️ Emotional Traps: High volatility can spread feelings of euphoria or panic, swaying traders away from rational decision-making. ▪️ Cognitive Distortions: The phenomenon of groupthink reinforces the false belief that popular decisions are invariably correct. ▪️ Lack of Confidence: Inexperienced traders, particularly, may align themselves with the crowd out of insecurity in their own judgment. 📍 Steps to Mitigate the Crowd Effect 🔹 Develop a Clear Trading Strategy: Create and adhere to a trading plan that reflects your risk tolerance, and trust it even when market participants act differently. 🔹 Avoid Emotional Decision-Making: Base your trading on systematic analysis rather than fleeting market sentiment. Take a moment to pause and assess your emotions before making critical choices. 🔹 Limit External Influences: Steer clear of forums and social media during volatile periods; avoid following advice without verifiable research. 🔹 Employ Objective Analysis Tools: Lean on technical and fundamental analysis instead of crowd sentiment. Identify patterns and levels for entry and exit rather than moving with the trending tide. 🔹 Enhance Self-Confidence: Fortify your market knowledge and trading strategy to reduce reliance on crowd validation. Keep a trading journal to document your successes and the soundness of your decisions. 🔹 Manage Risks Wisely: Never invest more than you can afford to lose. Segment your capital to mitigate the impact of any sizable losses. 🔹 Assess Crowd Behavior: Use indicators, such as market sentiment and trading volume, to gauge the crowd's actions, but retain the independence of thought. Remember that crowds can often misjudge trend reversals. 📍 Conclusion The crowd effect poses a serious threat to rational decision-making in trading. However, through disciplined strategies, thorough analysis, and effective emotion management, traders can minimize adverse impacts. Remember that successful trading is rooted in objectivity and independent judgment rather than blind conformity. “The market favors traders who think independently instead of conforming to the crowd.” Traders, If you liked this educational post🎓, give it a boost 🚀 and drop a comment 📣
Education
by Lingrid
13
Gold on the Rise: Is $2700 Within Reach?Hey Realistic Traders, Will OANDA:XAUUSD Return to the $2700 Territory? Let’s Dive In... In the H4 timeframe, Gold rebounded decisively above the 0.618 Golden Ratio Fibonacci level, marking the end of the minor correction within the broader bullish trend in the Daily timeframe. This move laid the foundation for a bullish flag pattern to emerge. The breakout from the flag pattern was confirmed with the formation of two bullish Marubozu candlesticks. At the same time, the MACD indicator signaled a bullish crossover, adding further confidence to the case for continued upward momentum. Given these strong technical signals, I foresee an upward movement toward the first target at 2715.097. Upon reaching this level, a minor pullback is likely before the rally gains traction again, pushing toward the second target at 2758.970. However, this bullish outlook hinges on the price maintaining support above the critical stop-loss level at 2613.372. Support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below. Disclaimer: "Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on Gold".
OANDA:XAUUSDLong
by financialfreedomgoals101
GOLD MARKET ANALYSIS AND COMMENTARY - [Dec 16 - Dec 20]At the beginning of this week, OANDA:XAUUSD quite strongly from 2,627 USD/oz to 2,726 USD/oz, but then dropped sharply to 2,645 USD/oz and closed the week at 2,648 USD/oz. The reason why international gold prices increased sharply in the first sessions of this week was because investors reacted to the fact that the People's Bank of China (PBoC) returned to buying 5 tons of gold in November after many months of temporarily stopping buying. reserve gold. Even with the six-month hiatus, the PBoC bought 34 tons of gold this year and remains one of the top central banks buying gold in 2024. However, gold currently accounts for less than 6% of China's total foreign exchange reserves. This shows that the PBoC's room to continue buying gold reserves is still very large, especially when US-China tensions are increasingly escalating when President-elect Donald Trump threatens to impose very high tariffs on China. However, after rising to 2,726 USD/oz earlier this week, gold prices once again fell sharply because US inflation remained persistent, affecting expectations of the FED's monetary easing cycle. While the decision on FED monetary policy will receive more attention next Wednesday, the gold market will also receive important economic data that can impact the FED's monetary easing cycle, such as retail sales, revised third quarter GDP of the US... 📌Technically, the gold price still maintains an uptrend on the Daily technical chart, as the price is still above the EMA89 moving average. However, on the H4 chart, the movement of the moving average shows that the price is accumulating sideways, the resistance area to pay attention to is around the 2725 mark, while the important support zone is around the round resistance mark of 2600. In the coming week Many influential information can cause gold prices to fluctuate strongly beyond this sideways range. Notable technical levels are listed below. Support: 2,644 – 2,634USD Resistance: 2,663 – 2,676 – 2,693USD SELL XAUUSD PRICE 2751 - 2749⚡️ ↠↠ Stoploss 2755 BUY XAUUSD PRICE 2579 - 2581⚡️ ↠↠ Stoploss 2575
OANDA:XAUUSD
by Xayah_trading