US100 / NASDAQ TodayLooks like finished correct ABC after impulse down.
I expect continiue down move
This is my view
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EurUsd- Buy dips for 1.12 retestIn my last EUR/USD commentary, I mentioned that the pair could reach 1.11.
That target was not only met but exceeded, with a top at 1.12.
The pair is currently in a normal corrective phase, and once this correction ends, EUR/USD could resume its upward movement.
My strategy is to buy on dips near the 1.10 level, with the potential for a 1:3 risk-to-reward ratio depending on the stop-loss placement.
Shorter-term traders could also consider the 1.11 level as a point to take profits.
Gold possible up correctionXAUUSD continues its downward movement, closing below the 2500 level and confirming a break out of the consolidation zone. With this momentum, the market is likely to head to lower levels. Although the major trend remains bullish, this correction might find support around the 2450 level. If the market retests this area and shows rejection signs, like a bullish long-tailed bar, it could offer a good buying opportunity. A strong rebound from the 2450 support could pave the way for a continuation of the bullish trend toward the all-time highs. The target is the resistance zone at 2505
Gold- Stuck in a newly established range. Will support give awayYesterday, Gold once again touched the critical support zone between 2470-2475, and, as before, bulls managed to defend it, causing a price rebound.
While at first glance this support appears solid, I believe it will eventually give way, with the price likely dropping to at least 2450.
Of course, I could be wrong, which is why I’ve set my invalidation level in the 2515-2520 zone.
My swing trade strategy remains unchanged: sell into rallies.
GBP/USD Trade Setup 1 Hour TimeframeOn the 1 hour timeframe, GBP/USD has formed a descending channel, followed by a strong breakout to the upside and a retest.
This pattern has formed at a daily support level. To enter a buy position, we need to observe bullish candlestick patterns for confirmation.
Lingrid | DOGEUSDT: Currently in the ACCUMULATION PhaseBINANCE:DOGEUSDT has recently dropped to a support level that was last tested in February. At that time, the price experienced a significant surge. Currently, the price has formed a false breakout below the support level of 0.09500 and has since been moving sideways during an accumulation phase. Over the past week, the market has been creating a compression channel, which is likely to lead to a breakout and subsequent price extension. Given the repeated rejections and bounces off the support level on the daily timeframe, there is a strong possibility that the price will move higher. I anticipate that the price to break through the trendline and retest the resistance level. My target is resistance at 0.10700
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
AUDUSD potential Breakout and RetestAUDCAD has broken and closed below its consolidation zone and is currently testing the resistance level around 0.91200. It seems to be pulling back for a retest at this level. The market is showing lower lows and lower closes, signalling bearish dominance. A break-and-retest scenario is expected, where the price might pull back to test the resistance before potentially continuing downward. This is a key level to monitor, as holding here could confirm the continuation of the bearish trend. The target is the support level at 0.90775
Gold - What to expect in September?XAUUSD spent the week in a consolidation zone, trading back and forth without notable progress. The price tested resistance several times, but we didn't see higher highs or closes. On the weekly chart, two doji candles in a row suggest a breakout—above or below last week's range—could be near.
Based on price action alone, the market appears overextended, excluding fundamentals. Since March, only bullish months have been observed, with June neutral. A strong divergence on the weekly timeframe signals a possible pullback.
Reviewing September trends from the last five years shows a bearish tendency, even amid a broader bullish trend. This pattern hints at a deeper pullback toward the 50% retracement of the previous month’s range. Still, caution is needed after two neutral weekly candlesticks to avoid chasing the market.
Nas100- Lower top in place?In early August, the NAS100 broke below the support line of a channel that had kept the tech-heavy index elevated for nearly a year.
However, after reaching the horizontal support zone around the 17,000 level, the price quickly rebounded and returned to the key 20,000 area. Despite this recovery, the bulls couldn’t maintain momentum, and two days ago, the index once again dropped below the trendline.
These movements suggest signs of weakness, and a further correction may be on the horizon.
I’m looking to sell into rallies around the 19,200-19,300 zone, with a target at the recent low above 17,000.
Lingrid | AUDCAD breakout and RETEST tradeThe price perfectly fulfilled my last idea. FX:AUDCAD has broken and closed below the consolidation zone. The price is currently testing the resistance level around 0.91200, and it appears to be pulling back toward this level for a retest. The market is making lower lows and lower closes, which indicates a bearish dominance. I anticipate a break and retest scenario, where the price may pull back to test the resistance before potentially moving lower. This is a critical point to watch, as it could confirm the continuation of the bearish trend if the level holds. My target is support level at 0.90775
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
1INCHUSDT(1InchNetwork) Updated till 04-09-241INCHUSDT(1InchNetwork) Daily timeframe range. PA is in very important level not far below is price discovery level. a close above 0.3046 can give it some relief. but that depends on retail interest. recent support at 0.2243.
GBPUSD - Set and ForgetElliott Wave Count:
Wave 1-3: The impulsive movement upwards is clear, with Wave 3 being the most extended.
Wave 4: A corrective phase, consolidating near the support level around 1.31000.
Wave 5 (Projected): The anticipated upward move, targeting the 1.34024 resistance level, which marks a key zone for the completion of the Elliott Wave cycle.
Key Levels:
Support Level (S1 H4): 1.31000, marking the bottom of Wave 4.
Resistance Levels (R2 H4): 1.32660 and 1.34024, representing potential targets for the projected Wave 5.
Confirmation (Buy Stop): Set above the trendline break at 1.31300 to confirm the upward move.
Entry Strategy:
Buy Stop Order: Place a buy stop at 1.31300, slightly above the current price to confirm the breakout of the corrective phase and the start of Wave 5.
Target:
Take Profit: Set your take profit at 1.34024, which is the upper resistance level and the projected completion of Wave 5.
Stop Loss:
Stop Loss: Place your stop loss just below the support at 1.31000 to protect against any false breakouts or downward continuation.
The Beginning of DXY DeclineThe DXY (US Dollar Index) is showing strong signs of entering a downward trend. The attached chart reinforces this view, highlighting the development of Wave 4, which is likely nearing completion. A continuation of the decline in Wave 5 is expected, in line with technical analysis and external factors.
Wave Structure: The chart clearly shows the DXY in a corrective pattern, with Wave 4 approaching its peak around the 0.618 retracement level at 102.030. Once this wave concludes, we can anticipate the continuation of the downward trend towards the completion of Wave 5, likely targeting levels below 100.
Bearish Channel: The DXY remains within a well-defined descending channel, indicating sustained selling pressure. This suggests that the overall momentum is bearish, with further declines expected as the channel holds.
External Factors: Slower-than-expected U.S. economic growth, particularly in key areas such as manufacturing and employment, has weakened the dollar’s outlook. Additionally, expectations that the Federal Reserve will halt rate hikes are dampening investor confidence in the dollar.
In conclusion, both technical analysis and external economic indicators suggest the DXY is likely to continue its decline. Traders should remain cautious as Wave 5 approaches, with potential downside targets below 100 as the dollar weakens further.
TRXUSDT CorrectionTRXUSDT is currently pulling back after forming a double top at a resistance zone. The price is now testing a previous support level, and there is a chance it could dip below this support, given the liquidity below this level and near the February highs. The market has already seen a pullback of around 12%, with the potential to extend to a 15% pullback. This price action might develop into a trend continuation pattern, possibly forming a triangle as it consolidates. If the market finds sufficient buying pressure at these lower levels, it could set the stage for a future upward move. The target is the resistance zone around 0.1618
Lingrid | GOLD where is Endpoint of market CORRECTION ?The price perfectly fulfilled my last idea. The price has hit the target level, and the OANDA:XAUUSD continues to push lower. It has closed below the 2500 level, confirming the break below the consolidation zone. Given this movement, I also believe the market is likely to continue to lower levels. Considering the major trend is bullish, the correction might find its endpoint around the support level at 2450. If the market retests this level and shows signs of rejection such as bullish long tailed bar, it may provide a good opportunity for us. A strong bounce from the 2450 support level could set the stage for a continuation of the bullish trend toward the all-time highs. My goal is resistance zone at 2505
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
Bulls Held Their Ground, But Will the Ground Hold Them?In the past two days, I've emphasized the importance of the 2480 support zone, suggesting that the price was likely to test this level before potentially reversing.
This prediction played out as expected, with XAU/USD indeed dropping to that specific zone.
However, my bullish outlook has shifted, and here’s why:
Failure to Break 2500:
Most importantly, yesterday the price attempted twice to stay above the 2500 level but failed both times. The second attempt was met with aggressive selling, and that time support zone was hit.
Signs of Distribution:
Over the past three weeks, price action has been sluggish, resembling a distribution phase rather than accumulation. The lack of momentum in making a new all-time high is concerning.
On the daily chart, while there is a Pin Bar that typically signals a reversal, it's of poor quality—featuring a red body and a large upper shadow ("nose").
In conclusion, I am now looking to sell above 2500, but I plan to keep a tight stop.
Best of Luck!
Mihai Iacob
Lingrid | TRXUSDT Correction in the MARKET. LomgThe price perfectly fulfilled my last idea. BINANCE:TRXUSDT is currently pulling back after forming a double top at the resistance zone. The price is testing the previous support level, and I believe there's a possibility the market could dip below this support level, especially since there is liquidity below this level and near the February highs. The market has already experienced around a 12% pullback, and I anticipate it could reach a 15% pullback. I expect the price action may establish a trend continuation pattern, potentially forming a triangle formation as it consolidates. This could set the stage for a future upward move if the market finds enough buying pressure at these lower levels. My target is resistance zone around 0.1618
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
FLUXUSDT(FLUX) Updated till 03-09-24FLUXUSDT(FLUX) Daily timeframe range. while many alts created new lows compare to that its holding off well for now. for some time its been trying to get a close over 0.6643 but lack of volume not helping here. if PA stay consistent surely it gonna have its breakout.
Lingrid | GOLD Weekly OUTLOOK. What to Expect This September?OANDA:XAUUSD market spent the entire week in a consolidation zone, trading back and forth. The price tested the resistance multiple times, but we did not see any higher highs or higher closes. Looking at the weekly chart, we can observe that the price action has created two doji candles in a row, suggesting that a breakout—either above or below last week's range—is imminent.
I believe the market may be overextended based solely on price action, not considering fundamental factors. Since March, we have seen only bullish months, with June being neutral. Additionally, the price has formed a significant divergence on the weekly timeframe signaling the pullback.
If we examine September trends over the past five years, we notice that this month has typically been bearish, despite the overall bullish trend. Given this historical context, I suspect we could see a deeper pullback toward the 50% retracement level of the previous month's range. However, it's important to note that this pullback may not happen immediately, so caution is advised in chasing the market, especially after two neutral weekly candlesticks.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
Lingrid | AUDUSD complex PULLBACK. LongFX:AUDUSD broken out of an expanding triangle pattern. The recent break and close below the support level that had been respected multiple times indicates a shift in trend. On the 1H timeframe, the market is currently pulling back towards the lower border of the channel, which presents a potential bounce point, especially since the major trend remains bullish on the D. Given this bullish context, I expect there is a good chance the market will gain momentum and push upwards. This suggests that price may enter a consolidation phase as it oscillates between support and resistance. It will be important to monitor the price action around the lower border of the channel and the support level for confirmation of the expected movement. My goal is the resistance zone at 0.67613
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
Lingrid | SOLUSDT breakout-PULLBACK-Continuation tradeThe price perfectly fulfilled my previous idea. It hit the target level. BINANCE:SOLUSDT 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. I believe the market is now 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, I expect the market to push a little further down towards a key round number, which could act as a psychological level of support. My target is support level at 120
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
DXY- Where to?After forming a double top above the 106 level, with the second top occurring at the beginning of July, the DXY (US Dollar Index) began to decline.
After breaking the 104 neckline of this pattern, the index tumbled to the key support level at 100.50, which coincides with the price level from the start of the year.
As expected, the price started to recover, and at the time of writing, it is trading at 101.66. Although there has been a rebound from support, it's too early to consider the trend reversed. For a confirmed reversal, the price needs to break back above the 102.50 zone.
If this happens, the price could continue upward, with a longer-term target around the 106 level and an interim resistance at 104.
Conversely, if the index fails to break above 102.50 and drops back to 100.50, there is a high probability of a further decline, with 98 as the next target.
VICUSDT(Viction) Updated till 02-09-24VICUSDT(Viction) Daily timeframe range. PA still in price discovery level. so a valid retrace or reject can be profitable. its trying to claim over 0.4130. thats a good thing cause not much hold up till 0.5563,depends on bag holders. recent support and low at 0.2779.
