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Technical Analysis

Bitcoin Resumes Its Bullish TrendBitcoin with ticker BTCUSD remains in a higher degree bullish trend as expected. After we recently spotted wave IV correction on a daily chart, we can now see it resuming higher for wave V with space up to 100k area that can be achieved by a new lower degree five-wave bullish cycle. Basic Impulsive Bullish Pattern shows that Bitcoin can be trading in wave 3 of V, so more upside is expected. Later we will just have to be aware of subwave 4 pullback before a continuation higher for wave 5 of V.
BITSTAMP:BTCUSDLong
by ew-forecast
1
BTC Price holding above 50 sma on the hourlyBitcoin price has currently broke above resistance in a recent bullish impulse. The 71,300 has been flipped from resistance to support. This support test also coincided with a 50 sma test and the 1.382 fib extension. All three held strong. Price action is possibly going to test the support again at time of publishing. this is a good area for a long trade. Buy inside the rectangle and hold rips. Not financial advice. Do your own DD.
BITSTAMP:BTCUSDLong
by BallsOfSteel32
Microsoft (MSFT): Can Earnings Sustain the Trend Channel?With Microsoft set to report earnings, investors are keenly watching updates on AI-related spending, especially growth within Azure and Copilot, as well as broader financials. A significant focus will be on capital expenditures (Capex) for generative AI initiatives, expected to rise from $9.92 billion a year ago to an estimated $14.74 billion in this recent quarter. Beyond revenue and earnings, the market is waiting to see how these hefty investments are shaping the company’s growth trajectory. Technically, NASDAQ:MSFT continues to test the lower bound of its trend channel—a level that may weaken with repeated retests. The stock’s reaction to earnings will reveal if this support can hold. The formation suggests a potential head and shoulders pattern, particularly if NASDAQ:MSFT dips below the neckline support at $388 with declining volume. For now, we’re maintaining our cautious outlook. If Microsoft fails to hold its key support levels, it may confirm the bearish trend we’ve been observing. As always, we’ll provide updates if any significant developments occur after the earnings report.
NASDAQ:MSFT
by freeguy_by_wmc
Mastering Fibonacci ChannelsFibonacci Channel: A Tool for Identifying Potential Trend Levels The Fibonacci Channel is a powerful technical analysis tool that advanced traders use to identify potential support and resistance levels within a trend. This tool is particularly useful in trending markets, such as Forex and equities, to gauge price movement and pinpoint strategic entry and exit points. The Fibonacci Channel consists of a series of parallel lines plotted using Fibonacci ratios (such as 0.382, 0.5, 0.618, etc.). These lines help traders mark key areas within a price trend that could indicate a potential reversal or continuation. How to Use the Fibonacci Channel 1. Identify Start and End Points: Begin by identifying the start and end points of a trend that you want to analyze. 2. Draw the Channel Lines: Next, draw a trendline between the two points. The Fibonacci levels are then plotted as parallel lines above and below this trendline, helping traders visualize potential levels for price to reach or retrace. 3. Interpret the Lines: The plotted Fibonacci levels act as potential areas of support and resistance, providing traders with strategic points for entry or exit. For example, price movement reaching the 0.618 level often suggests a high probability of either reversal or trend continuation. Using the Fibonacci Channel allows you to take advantage of market psychology embedded in these ratios, helping you make more informed decisions in a trend-driven market.
Education
by Market-Analyzer
Titan Company Ltd. Technical AnalysisTitan has been trading within a consolidation phase recently, suggesting that buyers and sellers are in balance. Let’s look deeper at the technical levels and indicators that might guide us in the coming sessions: 1. Support and Resistance Zones: Key Resistance Levels: The immediate resistance sits around ₹3,452.50 and further up at ₹3,557.05. These levels could act as barriers if the stock attempts a breakout from current levels. Key Support Levels: Titan has notable support at ₹3,233.95. A drop below this could signal further downside pressure. 2. Trendline Analysis: A descending trendline has been in place, connecting recent lower highs. If Titan breaks above this trendline with sustained volume, it could indicate a potential bullish reversal. Meanwhile, a smaller, rising support line (forming a wedge pattern) offers a bullish signal if the price manages to hold above it in the short term. 3. MACD Indicator: The MACD is currently in negative territory, indicating that the stock is under some bearish momentum. However, if we see a crossover above the signal line soon, it could hint at a possible bullish shift. 3. Volume Insights: Volume has remained relatively stable, showing no major spikes that would suggest a strong trend continuation or reversal. A rise in volume, especially near support or resistance levels, may validate any potential breakout or breakdown. Conclusion: Titan appears to be in a consolidation phase, with the possibility of a breakout in either direction. Traders might look for confirmation at key levels, such as a break above the ₹3,452.50 resistance for bullish momentum or a fall below ₹3,233.95 support for bearish sentiment. Monitoring the MACD signal line crossover and volume trends will be crucial to anticipate the next movement.
NSE:TITANLong
by AngshumanSaikia
2
AMD (AMD): Trendline test coming - crucial for bullish case!Following the completion of wave 3, NASDAQ:AMD has also completed wave 4 with a near-perfect correction at the 78.6% Fibonacci retracement level. The rapid V-shaped recovery after the drop validates our count and points to continued bullish momentum as long as key support levels hold. AMD’s earnings report on Tuesday aligned with forecasts but projected slightly weaker revenue than expected for the upcoming quarter. This led to a 6% decline in after-hours trading, raising concerns about potential deceleration in AMD’s overall business, even as the company remains a key player in the AI chip sector alongside its competitor, Nvidia. From a technical perspective, NASDAQ:AMD now faces a crucial test. The stock must break through the resistance zone between $162 and $174 to confirm further upside potential. Failing to do so could result in a pullback to the trendline, a level that has been respected several times since early 2023. As long as the stock remains above the $120 level, we maintain our bullish outlook. However, losing this level would confirm a bearish trend shift. We expect continued volatility, particularly post-earnings, and will monitor for a potential move higher or consolidation around these resistance levels. We are optimistic about AMD’s prospects but await further developments at this critical juncture.
NASDAQ:AMDLong
by freeguy_by_wmc
Gold Prices Surge, Testing the 2,800 Resistance LevelGold reached a peak of $2,771.61/oz on October 29, driven by political uncertainties and expectations of a Fed rate cut, climbing 0.9% to $2,766/oz. Currently, gold remains in a strong uptrend, approaching the critical resistance level at 2,800 – a barrier that could put pressure on further growth. However, the support zone at 2,700, along with the trendline, acts as a potential “launchpad” if there’s a slight pullback. A smart strategy is to wait for a pullback to this support zone to buy in, capitalizing on a possible rebound. Don’t forget to place a stop-loss below the support level, as in this game, a single slip could shift the entire market landscape.
OANDA:XAUUSDLong
by Zola_Hello
GBP/USD Brief UpdateGBP/USD is currently recovering from the lows due to the weakening USD amid market expectations that the Fed will pause its rate hike. However, the pair is still moving cautiously around 1.3000 in the European session on Wednesday, as traders await key releases: the UK Autumn Budget, the US ADP jobs data, and the Q3 Preliminary GDP report due later in the day. On the technical chart, the support level of 1.2970, defined by the 34-day EMA, remains as a stable pivot. At the same time, the recent bearish wedge breakout is reinforcing the uptrend, suggesting that buyers are in control in the medium and long term. Victor expects that, in the short term, GBP/USD will continue to move upwards with the next targets on H1 at 1.3050 and 1.3100. Get ready for the wave and good luck trading!
Long
by Bentradegold
Will the job data impair the US dollar gain?Macro theme: - The dollar remained steady despite short-term volatility, reflecting mixed economic data. US Sep Retail Inventories and Oct Consumer Confidence exceeded forecasts, while Sep Job Openings fell short. - Treasury yields reached multi-month highs early but declined following a strong seven-year auction. - With the US job report—the last before the FOMC meeting—approaching, storms and strikes could complicate interpreting the data, introducing further uncertainty around the dollar’s direction. Technical theme: - DXY is consolidating in a small range at the top and looks stretched. This is vulnerable to a potential mean reversion. The price is trading away from both EMAs. - If DXY extends its gain above the previous swing high at 104.60, the index may rise to 106.00 resistance. - On the contrary, if DXY closes below 104.00 support, the index may decline to retest 103.45 support. Analysis by: Dat Tong, Senior Financial Markets Strategist at Exness
TVC:DXYShort
by DatTong
Gold expands its range, waiting for key U.S. economic data.USD buyers took profits after a three-month high, repositioning before key U.S. economic data. The JOLTS survey and Consumer Confidence data will be watched for insights on economic resilience and potential Fed rate cuts. Traders are cautious ahead of the PCE inflation index and Non-Farm Payroll report, as well as Q3 earnings from major companies like Alphabet, Meta, and Amazon, which are weighing on the USD. Personal opinion: If gold holds steady at $2,750, it could be a positive signal for optimistic traders. If it continues to rise, gold might surpass the all-time high around $2,759 and test the resistance level of the upward trend line that has been in place for nearly four months, around $2,770-2,775. If this momentum continues, we could see gold reaching the $2,800 mark. Pay attention to the price range: Buy Zone: 2727 - 2725 SL: 2720 Sell Scalp: 2758 - 2760 SL: 2765 Sell Zone: 2769 - 2771 SL: 2776
OANDA:XAUUSDLong
by Chana-Trading
Gold prices are on the rise today!Dear friends. Let's update and strategize with Ben today! As predicted earlier, the gold price has made an impressive bounce to fill the gap, completely escape the sideways trend and end the parallel wedge pattern. At the time of writing, the gold price is trading below the 2758 barrier. The uptrend is very strong as it consolidates at a high level with stable trading activity on the 2-hour time frame. On the other hand, the gold price may continue to increase due to the forecast that the US Federal Reserve (Fed) will cut interest rates 1-2 more times between now and the end of the year, along with the Central Bank increasing its gold reserve purchases. Due to these factors, it is contributing to making the market hotter than ever. Ben's prediction is that by the end of this week, the gold price will increase by at least about 40 USD, which is the 2780 mark, and even more. Wishing you all a successful trading and earning lots of silver. Best regards!
OANDA:XAUUSDLong
by Bentradegold