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GOLD (Bullish Volume vs ADP)Technical Analysis: Gold The price reached our target we mentioned yesterday which was 2344 and still running to get 2357 Current Outlook: The trend remains bullish today, with the price stabilizing above 2342. As long as it stays above these levels, it is expected to reach 2357. Bullish Scenario: As long as the price trades above 2342, it is likely to maintain a bullish trend towards 2357. A break above 2357 could extend the bullish trend to 2378. Bearish Scenario: A 4-hour or 1-hour candle closing below 2334 would indicate a downtrend, with the price expected to trade in the bearish zone between 2320 Key Levels: - Pivot Line: 2342 - Resistance Levels: 2357, 2377, 2397 - Support Levels: 2334, 2320, 2311 Today's Expected Range: The price is anticipated to move between the support at 2320 and the resistance at 2357, with a bullish tendency. in general, the news will affect the market today previous idea:
OANDA:XAUUSDLong
by SroshMayi
LTC Dailybased on the daily chart we see that still we are in down trend. we are close to the static support and if it breaks the 138 and close daily candle below this price, we might gonna see 115$ too. Facts that we are down yet RSI down trend is not broken yet. down trend dynamic resistance it not broken yet. yet we didn't see any reaction to static support. probably it's gonna react to it's static support and goes up, but if BTCUSDT goes down, this might break the static support, better to have a look on BTC too. this analysis might fail due to market fluctuations.
Short
by Ety_Ethan
4
The BITCOIN Correction You May Not Have Seen (Wave B is 29-58k)Hi Everyone, I just wanted to shed light on an Elliot/Neo Wave count that I have theorised since finding support at the 43k USD level. Now hear me out, as this does sound bizarre, however keep in mind that if this wave count is true, it projects an influx of major yet to be seen growth to BTC and is more incredibly bullish with massive upside potential than what price action we have already seen unfold to date. Lets cut to the chase... My observations are as follows, We may have just finished the Wave 4 correction at 43k USD. This correction may not have started at the 58k high though as many are portraying on the charts (I say we have actually completed it). I do believe at this point of time that wave 4 correction may have started at the peak of 42k USD (8th Jan 2021) and has just finished at 43k USD (1st March 2021). This means that the rally that unfolded from 29k to 58k was the 'B' correction wave and if this is the case this indicates extremely bullish future price movement yet to be observed on BTC. It is my personal opinion that there was a lack of impulsivity during the run from 29k to 58k (yes we did see upward price action however this unfolded with corrective nature in the middle of what should be rapid growth). In the direct dead centre of this 'supposedly impulse' move. We noticed a stretched channel of sideways price movement which has differed to the same corrective behaviour as seen in previous fractal corrections. I see corrective nature unfolding in the dead centre of this wave that majority may turn a blind eye and expected the mass psychology of extreme growth through a wave 3 when making new ATH's. WE DID NOT SEE THIS... The large green candle at the start of wave B was beyond normal price growth as Elon Musk updated his twitter bio to #Bitcoin as we know and caused rapid growth immediately. also the large green candle the following day was when Elon announced an investment of 1.5bn USD in BTC. It's also highly important to note that the sideways price movement of the depicted wave B this was sideways price movement was noticeable prior to the psychological 50K USD price mark. I have tried to negate this idea and find a logical, clean and a somewhat semi-expected 5 wave count from 29k to 58k however the corrections within this time period do not show the rapid sell off corrections we have seen previously throughout this bull run. The only place we see it occur is in the middle of an impulse wave? We know history doesn't repeat but in BTC's Bull runs we do see a lot of rhyming when bullish price action unfolds and to me this is evident during this period of price action that it shows corrective nature Invalidation of this idea is if price falls below 43k USD. If this idea is respected, I do expect within very very near future we target the ATH and exponentially grow from there as the large wave B of wave 4 is evidence of 'future price indication' of bullish price movement to come within the next impulse wave (Wave 5) that we may have just commenced and potentially targeting fib levels anywhere from 1.618 ($94'800 USD) through to the 4.236 ($178'000 USD). We will just have to wait and count the fractal waves of BTC as we move along if we do indeed progress higher. FUN FACT: These hyper bullish corrections are not uncommon and are apart of Glen Neely's Findings when he accurately projected the DOW JONES to grow from what many were expecting a depression or violent correction to occur as there was rapid price growth from August 1987 to Feb 1994 where the DOW grew from 1616 to 3985 points however this was indeed proven to be the large cycle corrective wave when many thought it was an impulse wave. By the Way, BTC 2017 Bull run had a hyper bullish wave 4 correction very similar to this prior to hitting 20k USD... Lets watch price action unfold. Thanks, Husky
Long
by Husky2795
1
AUDUSD Rising Wedge| Structural Resistance| Technical Target Evening Traders, Today’s Analysis – AUDUSD – trading in a rising wedge pattern at key structural resistance, a break bearish is plausible. Points to consider, - Consecutive higher lows - Strong structural resistance - Technical target (local support) - RSI and Stochastics lower high projection - Volume influx needed AUDUSD has been putting in consecutive higher lows as it trades closer to its rising wedge apex. Structural resistance is a key trade location; a break above this will NEGATE the trade setup. The technical target for this rising wedge is at local support, assuming price breaks down from the structural resistance zone . The stochastics and the RSI is projected to establish a lower high if price tests structural resistance. This will put in a double bearish divergence, thus putting more emphasis on a breakdown. There needs to be a volume influx upon a break in either direction of the rising wedge for confirmation. This will help avoid any bear and or bull traps. Overall, in my opinion, AUDUSD is approaching a key macro structural resistance. A short trade is valid with defined risk above resistance. For confirmation, wait for the wedge to break with increasing volume . What are your thoughts? Please leave a like and comment, And remember, “Focus, patience, wise discernment, non-attachment —the skills you acquire in meditation and the skills you need to thrive in trading are one and the same.” ― Yvan Byeajee
Short
by AzizKhanZamani
2
LEOUSD : Good buy opportunity (bottom zone)Dear fellas, the price action for BITFINEX:LEOUSD has reached the bottom zone (i.e. around 0.961), this should be considered by traders as a strong support and give us a good buy opportunity . Furthermore, since the beginning of October, the price action seemed to be consolidating between the bottom zone and the first resistance around (i.e. 1.012). The 1.012 area could be considered as a first profit target before further upward movements. Risk management : to anticipate a potential downward movement, a stop loss can be set around 0.936 which is just below the last bottom (i.e. 0.941) on October 9th. Considering the actual entry price (i.e. around 0.961) and a second profit target (resistance around 1.071), this gives traders a good R/R ratio of about 4.83. If the price actually goes as predicted, traders should keep a trailing stop to keep some profit N.B : since it is difficult to predict every market movement, it is suggested for traders to only look for trades with a R/R ratio of at least 1:3. Remember, trading should be kept simple in order to survive. I will keep updating this trade according the future price action. Fellas, please support this idea with your likes, thanks. Best regards, Jordan
BITFINEX:LEOUSDLong
by jbadiabo