USDCAD Under Pressure! SELL!
My dear subscribers,
This is my opinion on the USDCAD next move:
The instrument tests an important psychological level 1.3989
Bias - Bearish
Technical Indicators: Supper Trend gives a precise Bearish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 1.3975
About Used Indicators:
On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment.
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WISH YOU ALL LUCK
Trading
GBPJPY Set To Grow! BUY!
My dear friends,
Please, find my technical outlook for GBPJPY below:
The instrument tests an important psychological level 193.09
Bias - Bullish
Technical Indicators: Supper Trend gives a precise Bullish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 195.03
Recommended Stop Loss - 192.17
About Used Indicators:
Super-trend indicator is more useful in trending markets where there are clear uptrends and downtrends in price.
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WISH YOU ALL LUCK
NATGAS Set To Fall! SELL!
My dear friends,
My technical analysis for NATGAS is below:
The market is trading on 3.122 pivot level.
Bias - Bearish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation.
Target - 2.910
Recommended Stop Loss - 3.241
About Used Indicators:
A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames.
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WISH YOU ALL LUCK
USOIL Will Collapse! SELL!
My dear subscribers,
USOIL looks like it will make a good move, and here are the details:
The market is trading on 71.12 pivot level.
Bias - Bearish
My Stop Loss - 71.78
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation.
Target - 69.89
About Used Indicators:
The average true range (ATR) plays an important role in 'Supertrend' as the indicator uses ATR to calculate its value. The ATR indicator signals the degree of price volatility.
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WISH YOU ALL LUCK
APPLE The Target Is DOWN! SELL!
My dear followers,
I analysed this chart on APPLE and concluded the following:
The market is trading on 229.82 pivot level.
Bias - Bearish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation.
Target - 226.87
About Used Indicators:
A super-trend indicator is plotted on either above or below the closing price to signal a buy or sell. The indicator changes color, based on whether or not you should be buying. If the super-trend indicator moves below the closing price, the indicator turns green, and it signals an entry point or points to buy.
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WISH YOU ALL LUCK
Bitcoin (BTC/USD) Analysis: Correction on the Horizon?Bitcoin has been on a parabolic rally, recently crossing the critical 1.618 Fibonacci extension level at $96,232. As BTC edges closer to the psychological $100,000 mark, questions arise about whether this momentum can be sustained or if a correction is imminent. Here's a detailed analysis:
Key Observations:
1.Fibonacci Extension Levels
The price has decisively broken above the 1.618 Fibonacci level at $96,232, a critical milestone often associated with overextension in trends.
Historically, price corrections tend to occur after such steep rallies, especially near extended
Fibonacci levels.
2.Overbought RSI
The daily RSI is in overbought territory (>70), signaling that the asset may be due for a cooling-off period.
A potential bearish divergence could emerge if the price forms higher highs while RSI fails to do so, which is a classic precursor to corrections.
3.Volume Dynamics
While volume supported the initial breakout, it has been relatively muted as Bitcoin approaches $100,000.
Declining volume in an uptrend often signals waning momentum and increases the likelihood of a pullback.
4.Psychological Resistance
The $100,000 level is a key psychological barrier, likely to trigger profit-booking by traders and long-term holders alike.
5.Potential Support Zones
In case of a correction, watch for support at the previous Fibonacci levels:
$90,000 (minor support)
$74,296 (1.0 retracement)
$66,700 (0.786 retracement)
Scenarios to Watch:
1.Short-Term Correction Likely
If BTC fails to hold above the 1.618 level ($96,232), we could see a pullback toward $90,000 or even deeper to $74,296.
Bearish RSI divergence or a decline in volume on higher prices would confirm this scenario.
2.Continued Rally
Consolidation above $96,000, supported by strong volume and neutralizing RSI, could indicate sufficient strength for a breakout beyond $100,000.
A confirmed breakout with volume could pave the way toward $110,000 and beyond.
Conclusion:
A correction appears increasingly likely in the short term as BTC approaches the psychological $100,000 resistance with overbought conditions. However, the broader trend remains bullish, and any pullback to key Fibonacci support levels could present a buying opportunity for long-term traders.
Key levels to watch: $96,000 (immediate support), $100,000 (resistance), and $74,296 (major support).
Stay cautious and monitor the RSI, volume, and price action around $100,000 to gauge the next move.
Let me know your thoughts! Is BTC primed for a pullback or ready to shatter $100,000? Comment below!
OTHERS.D 50.00% FIB CRITICAL LEVEL **Hello dear altcoin degens, HODL-ers, and traders,**
How are you doing this Saturday? I hope you’re enjoying the weekend in your own unique way!
This is **OTHERS.D**, the index representing the market cap of altcoins outside the top 10. On the weekly time frame, there are several key points of interest that could help us analyze what might happen next. However, as always in trading, nothing should be taken for granted.
**Key Observations**
1. **Higher Lows Trendline:**
- We can clearly see a series of higher lows, starting with the bottom formed during the week of **June 5, 2023**, and another higher low during the week of **October 28, 2024**. This upward trendline is a promising signal for the altcoin market.
2. **The Role of the 21MA (Moving Average):**
- Historically, the 21MA has acted as a reliable support level before price moves higher, as seen between **July 17,2023** and **August 7, 2024** (highlighted with a green circle).
- Currently, the price is trading above this 21MA, which is an encouraging sign.
3. **The Critical 50% Fibonacci Level:**
- The 50% Fib retracement level has historically been significant. The green circle highlights how this level previously served as the launchpad for an upward move.
- At present, the price is trying to break through this level, which is acting as resistance.
**Combining Support Factors**
When we combine the **21MA** and the **50% Fibonacci level**, we get an area of strong support/resistance. For now, the price is attempting to break through this resistance zone.
**What’s Next?**
- If the weekly candle closes **above this critical area**, it’s a bullish signal and great news for those hunting the elusive **altseason**!
- Until then, we wait. The weekly close will provide more clarity, and based on the outcome, we can decide on the next course of action.
**Final Note**
Patience is key in this game. Stay safe, and let’s see how this plays out!
S&P 500 Daily Chart Analysis For Week of Nov 22, 2024Technical Analysis and Outlook:
In this week's trading session, the S&P 500 index has exhibited notable stability at the previously completed Mean Support level of 5856. Following this stabilization, the index is progressing toward a retest of the completed Outer Index Rally level of 6000 and the Key Resistance threshold of 6008. This substantial upward movement may/will precipitate a decline toward the Mean Support level 5920. However, it is crucial to recognize that reaching this support level or any pullback will facilitate a price rebound, thereby positioning the market for the subsequent phase of the bullish trend. This trend will be aimed at the Next #1 Outer Index Rally target of 6123 and potentially extend beyond that level in the near future.
EUR/USD Daily Chart Analysis For Week of Nov 22, 2024Technical Analysis and Outlook:
As outlined in the analysis from the previous week, the Eurodollar has maintained its pronounced downward trajectory with notable intensity. It has successfully breached the completed Inner Currency Dip at 1.050. It penetrated the subsequent Outer Currency Dip at 1.042 by completing the significant Outer Currency Dip at 1.035 during this week’s trading session. It is essential to recognize that following this vital completion, the currency is positioned to rebound toward Mean Resistance at 1.048 before resuming its downward movement.
Bitcoin(BTC/USD) Daily Chart Analysis For Week of Nov 22, 2024Technical Analysis and Outlook:
The price of Bitcoin, which remained at or below the completed Outer Coin Rally of 92000 during the preceding week, has successfully broken through this level this week, thus completing our Outer Coin Rally of 99500. The current analysis indicates that the cryptocurrency coin will likely experience a retracement to the Mean Support level of 94400 before embarking on its subsequent bullish trajectory, targeting our forthcoming Outer Coin Rally at 110000. This development signifies the conceivable continuation of a sustained bull market.
GOLD Will Move Lower! Sell!
Take a look at our analysis for GOLD.
Time Frame: 12h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 2,715.97.
Considering the today's price action, probabilities will be high to see a movement to 2,656.74.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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NZDCAD Is Bullish! Buy!
Please, check our technical outlook for NZDCAD.
Time Frame: 2h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 0.814.
Taking into consideration the structure & trend analysis, I believe that the market will reach 0.818 level soon.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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GBPNZD Is Very Bullish! Long!
Here is our detailed technical review for GBPNZD.
Time Frame: 2h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a key horizontal level 2.147.
The above observations make me that the market will inevitably achieve 2.153 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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USOIL BEARS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
USOIL pair is trading in a local downtrend which know by looking at the previous 1W candle which is red. On the 1H timeframe the pair is going up. The pair is overbought because the price is close to the upper band of the BB indicator. So we are looking to sell the pair with the upper BB line acting as resistance. The next target is 70.22 area.
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GBP/JPY SENDS CLEAR BULLISH SIGNALS|LONG
Hello, Friends!
We are going long on the GBP/JPY with the target of 198.957 level, because the pair is oversold and will soon hit the support line below. We deduced the oversold condition from the price being near to the lower BB band. However, we should use low risk here because the 1W TF is red and gives us a counter-signal.
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EUR/CHF BULLS ARE GAINING STRENGTH|LONG
Hello, Friends!
We are now examining the EUR/CHF pair and we can see that the pair is going down locally while also being in a downtrend on the 1W TF. But there is also a powerful signal from the BB lower band being nearby indicating that the pair is oversold so we can go long from the support line below and a target at 0.942 level.
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