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Alikze »» TRX | Wave 3 or C bullish scenarioIn time 2W, after an ascending wave and a double correction at the bottom of the channel, after successfully exiting the concentration, it is moving towards the specified targets. This upward wave is due to the structure in wave 3, whose micro waves will be presented in the next updates. But this upward move will have the ability to reach at least $0.58 and $1.2 in the long term. If no candlestick penetrates below 0.5177, this analysis will be valid for the specified purposes. 🟩Sup:0.097 ⛳️Tp 1:0.177 ⛳️ Tp2 : 0.58413 ⛳️ Tp3 :1.23008 »»»«««»»»«««»»»««« 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.❤️
Long
by alikze
11
NZD/USD at Strong Support: Is a Move Higher on the Horizon?Since the end of September 2024, the NZD/USD pair has been in a pronounced downward trend, experiencing a depreciation of over 8% without any significant retracements. This downward movement has found crucial support around the 0.5850 level, where the price is now showing early signs of exhaustion. This support level has been tested on previous occasions, indicating it may serve as a key area of interest for buyers. As the market awaits a potential upward corrective movement, traders should remain vigilant, particularly with the upcoming release of US Retail Sales data, which could significantly impact the pair's volatility. Scenario 1: Upward Correction The rejection of the support at 0.5850 and the formation of a potential bottom signal the presence of buyers. A break above the previous day's high at 0.5885 could confirm the entry of buying pressure. The 38.2% Fibonacci level at 0.6040 serves as the first projected target for this upward correction, coinciding with an important resistance zone. A buying opportunity may arise if the price breaks yesterday's high at 0.5885. In this instance, we could see the formation of an Engulfing Pattern on the daily chart, a strong bullish signal. Initial Target : The target could be set around 0.6040, where mid-term resistance aligns with the 38.2% Fibonacci retracement level. Stop Loss: A suitable stop loss might be positioned below the support line, around 0.5800, to protect against adverse movements. Scenario 2: Continuation of the Downtrend Conversely, if the price breaks below the 0.5850 support level, it will immediately encounter another significant support zone at 0.5790. Given the proximity of these support levels, a 60-pip move may not justify the risk, especially considering the sharp downward trend observed over the past two months. Potential Short Trade if Major Support is Broken: From a risk/reward perspective, a short opportunity could become attractive only if the price breaks below the 0.5790 level. In this case, the next level of support would be sufficiently distant to offer a favourable risk/reward ratio for traders. In summary, the NZD/USD pair is currently at a pivotal support level, displaying signs of potential exhaustion. The next price movements will be critical in determining whether we witness a significant corrective rally or a continuation of the downtrend. Traders should exercise caution, particularly in light of forthcoming economic data, and closely monitor key levels to make informed trading decisions. Disclaimer: 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Past performance is not necessarily indicative of future results. The value of investments may fall as well as rise and the investor may not get back the amount initially invested. This content is not intended for nor applicable to residents of the UK.
Long
by Marketscom
Gold, strong support coming inHello everyone, after the election in the US Gold started a sharp pullback and lost 9% within 2 weeks. Now the price reached very strong support zones, built from former consolidations. These zones also match with order blocs on the weekly, 4H and 1H time frame (not shown on the chart). The RSI is highly oversold and the drop was the biggest one this year. All in all I think it's time for a correction at least. According to the Elliot wave theory we finished three waves down, the C wave was formed by a five wave move which is very common on five waves. If you are interested in the micro count, let me know in the comments. The orange area shows the potential resistance for the larger B wave. The green support zone should ideally hold to keep the bullish trend alive and the upper zone shows the fifth wave targets. The price could easily extend to 3000 dollar before a major correction should come.
FXOPEN:XAUUSDLong
by Kyrean
EUR/GBP at Critical Support: Is a Move Higher on the Horizon?The EUR/GBP pair has been in a persistent downtrend since February 2023, reflecting the strengthening of the Pound against the Euro. However, after more than 1.5 years of decline, the pair is beginning to show potential signs of exhaustion on the daily chart. Recently, an “Engulfing” candlestick pattern has formed, suggesting a possible reversal or at least a significant correction before any further continuation of the downtrend. This brings forth two potential scenarios: Scenario 1: Immediate Upside One possible scenario is that EUR/GBP begins to rise from its current position near 0.8330, without a significant pullback. The bullish engulfing pattern formed over the past two days may indicate buyer interest, suggesting that the pair has found critical support. Possible Buy Entry: An immediate buy entry could target the resistance level at 0.8440 as the final objective. Stop Loss: A suitable stop loss could be placed just below the support level on the daily chart. Scenario 2: Retracement Before the Rally Another possibility is that EUR/GBP retraces to the 0.8297 region, which corresponds to the 50% Fibonacci retracement of the recent upward movement, before continuing higher. This type of retracement is common and can significantly enhance the risk/reward ratio of the trade when managed effectively. Possible Buy Entry: A buy entry could be initiated if the price reaches the 0.8297 level, targeting the previous resistance at 0.8440. Stop Loss: A stop loss positioned below the support level on the daily chart would be prudent to guard against an unexpected break of support. Combining the two possibilities. Given the uncertainty around which entry point will yield the best results (immediate or after a retracement), a strategic approach could be to enter with a smaller lot at the current price and follow up with additional entries if the price retraces to the 50% Fibonacci level. By doing so, if the price begins to rise immediately, you can take advantage of the uptrend with a smaller position. Conversely, if the price does retrace, you would already have the full-sized position ready to take advantage of a better risk/reward scenario. Alternative Scenario: Breaking Support It is crucial to acknowledge that, despite the pair being at a significant support level on the daily chart, there remains a risk of a breakdown below this level. If the support at 0.8263 is breached, the bullish scenario would be invalidated, and we could see a continuation of the downtrend consistent with the prevailing movement since February 2023. Possible Short Entry: Traders might consider entering short following a confirmed break below 0.8263, targeting the 0.8100 region, which represents the next important support level on the daily chart. The EUR/GBP pair is at a pivotal juncture, displaying signs of exhaustion after an extended downward trend. The forthcoming price movements—particularly around the current support zone—will be crucial in determining whether we witness a significant correction or a continuation of the decline. Traders should remain alert for confirmation signals before making any trading decisions. Disclaimer: 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Past performance is not necessarily indicative of future results. The value of investments may fall as well as rise and the investor may not get back the amount initially invested. This content is not intended for nor applicable to residents of the UK.
Long
by Marketscom
Anticipating Short-Term Prospects: What's on the Horizon?Kaspa indicates a bearish bias, particularly with the potential for further downside if the reverse cup and handle formation plays out. However, there is a possible bounce scenario near the key support around $0.125, which aligns with a long-term ascending trend line. If buying pressure increases, the price could see a bounce from this area, potentially targeting the $0.146 to $0.160 resistance levels. The 20 EMA (red) is currently below the 200 moving average (purple), indicating continued bearish momentum. The price has recently rejected the 200MA, suggesting that this moving average will be a key resistance level on any bounce. Breaking above the 200MA at $0.146 would be critical for signaling a potential shift in momentum to the upside. The BB Power indicator shows stronger selling pressure than buying pressure, reflecting ongoing bearish sentiment. This adds weight to the downside risk, though a bounce remains possible if the price holds support at $0.125 and selling pressure weakens. Additionally, it’s important to keep a close watch on Kaspa since it seems volatile at the moment. Don't doubt the signs but hope for the best for a continuation in the upward trend. Support - $0.125 Resistance - $0.180 Fear and Greed Index (Binance) - 72 Greed
by LOWCO_487
2
BTC is in the range of $85-90kAs you can see, BTC has made large upward movements in recent days, resulting in a move of approximately 35%, which broke the critical point around $84,600, reaching nearly $90,000. You can see how we are struggling to maintain this movement and the price itself is in the range of $85,000-$90,000. However, here you can see another resistance point at the level of $90,900, then very strong resistance may appear at the price of $94,400, and then the zone in the range of $98,400 to $99,760 will be important, which is a strong psychological barrier. In a situation where we see further price recovery, support is visible at the level of $84,580, then there is a support point at $81,235, then we have the level of $78,481, $75,727 and $71,784. You can see how the price is climbing along the upward trend line and looking at this line, we can expect an attempt to rebound towards this trend line.
by cryptodailyuk
1
Intel - Still Got Another +15% From Here!Intel ( NASDAQ:INTC ) is perfectly respecting structure: Click chart above to see the detailed analysis👆🏻 For more than two decades, Intel has not been trading in any clear trend. We saw a lot of swings towards the upside which were eventually always followed by corrections, making Intel a very easy to trade stock. After the current retest of support, a move higher will eventually follow. Levels to watch: $20, $27 Keep your long term vision, Philip (BasicTrading)
NASDAQ:INTCLong
by basictradingtv
8
GOLD FORECASTIn this analysis we are focusing on 4H time frame for finding the upcoming changes on gold price. As we know that bearish momentum is very strong. So what do we need to do is just wait for price when it comes to our level and give any kind of rejection or any buy confirmation, then we will execute our buy trade. In my opinion and I'm expecting that price will bounce back toward upside after testing the zone. Let's delve deeper into these levels and potential outcomes. Always use stoploss for your trade. Always use proper money management and proper risk to reward ratio. This is just my analysis or prediction. #XAUUSD 4H Technical Analyze Expected Move.
OANDA:XAUUSDLong
by TradeTacticsreal
Solana - We Will See A New All Time High!Solana ( CRYPTO:SOLUSD ) is preparing for an all time high breakout: Click chart above to see the detailed analysis👆🏻 After dropping -95% in 2022, Solana then rallied an incredible +2.000% and retested the previous all time high. Then we saw a quite long term but tight consolidation and just two months ago, Solana retested the lower support again. It is just a matter of time until we will see a breakout. Levels to watch: $120, $210 Keep your long term vision, Philip (BasicTrading)
CRYPTO:SOLUSDLong
by basictradingtv
10
GOLD BREAKDOWNA chart representation of what may happen on Gold in the week and beyond. Monthly TF still looks significantly bullish as the Gold Market Price is currently still trading above the previous significant monthly lows. We don't need the price to just trade below but close below to ascertain the presence of weakness in the current bullish trend. On the Weekly TF, price has shown a clear push signifying a building up in bearish momentum before and after the US elections last week. Nevertheless there is the monthly lows as support to hold off what sells we are seeing and resume bullish trend. Until the break of that area, we will only keep seeing the current push down as gathering liquidity to continue the preceding bullish pressure. Coming to the lower TF, the chart clearly shows Possible rejection zones that may be used as indicated and based on special confirmations know to my trading style, I will be looking forward to join in for buys or sells where significant. Fundamental - The uncertain nature of Trump's first approach upon assuming second term may stir trade tensions globally and mixed sentiments may have an effect on price volatility until his policy implementations are clearer.
OANDA:XAUUSD
by KEMMATRADES
Will ETH repeat BTC's strong upward move?ETH in a key place, currently fighting with strong resistance at the level of $3,247, this is a key place before the upward movement to around $3,561, which is the last place before the movement towards a very strong resistance zone from $3,948 to $4,102, which is a key place before the establishment of the new ATH. Looking the other way, there is currently a strong upward movement, which may give a moment of relief and here there is support at $2,816, then there is strong support at $2,546, and then the price could go back even to around $2,117, which in the current situation is an unlikely move at this point.
Long
by cryptodailyuk
EURUSD Testing Strong Support ZONE Near 1.0700EURUSD Testing Strong support zone near 1.0700 EURUSD is currently testing strong support zone near 1.0680:1.0700. This area seems poised to push the price up again in the coming days making it a potential shortterm trade opportunity. The US will release the consumer price index CPI data on wednesday so the market is likely to speculate again . The US consumer price index YOY For October is expectedto be 2.6 percentage vs 2.4 percentage the previous month. Energy YOY for October is expected to remain 3.3 percentage. You mayfind more details in the chart thankyou and Good luck
Long
by GoldMarketKiller
1
$GME Potential Movement (11/11/24)Hey Traders, NYSE:GME is back on the radar, showing its classic meme-stock momentum! On the 1-hour chart, we’re watching a solid structure here: there’s a break of structure at $25.02 that’s been tested twice today but has held as strong resistance so far. Our key support zone sits at $24.53 (previous higher high and BOS), with another potential test point nearby at $24.64. If we break through that $25 resistance on the 1-day chart, we could see a push toward the gap fill at $25.56. Stay disciplined and remember to secure those gains! David Diz-Plin Trading
NYSE:GME
by DizPlin
1
ETHUSD price action poking above descending channelFirst breach of the top trendline of the descending channel here by the price action. We all know that price will often times dip back into a chart pattern after the ntial break above it so as of now we can’t yet say this validates the breakout of this pattern. Even though it’s more common patterns dont official validate their breakouts until the 2nd 3rd or 4th breach of a toot rendline, there are plenty of examples of patterns that have confirmed their breakout on the 1st breach of the top trendline as well so it’s wise to be prepared for either possbliity. Think a good indicator of it confirming the breakout will be once the 200ma gets flipped to sold support. The 200ma is current wick resistance. *not financial advice*
COINBASE:ETHUSD
by DrDovetail