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Trend Line Break

GOLD → Consolidation within a bullish trend. News ahead...FX:XAUUSD is forming a consolidation in the triangle format. Traders are in a stupor and are not ready to act prematurely before the news, but buyers are still quite aggressive Fundamentally, today's focus is on initial jobless claims, we have seen a decline in unemployment lately, which generally indicates an improvement in the environment, analysts expect the same “warm” figures. But, the main focus for Friday is Powell's speech, where further policy, inflation and regulator's actions will be discussed. Most likely, the current course of the markets may be strengthened. Technically, the emerging above sma traygolnik on H1 is a “continuation pattern”, higher probability of resistance breakout. But, the news may affect the market more drastically, before further recovery (manipulation). Resistance levels: 2510, 2519, 2531 Support levels: 2498, 2488 Emphasis on resistance breakout, bulls are serious enough. But on the background of news MM can form liquidation (longsqueeze) before further growth. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
29
NZDUSD → Attempt to change the trend amid falling dollarFX:NZDUSD is strengthening from the opening session amid the dollar's return to southward movement. Traders are intensifying USD sell-offs amid expectations of interest rate cuts... Despite the New Zealand Central Bank's interest rate cut, the USD sell-off is more active on the currency pair. The dollar is forming a retest of support, which increases the chances of further decline in the price amid strong sell-offs. The currency pair is testing the resistance at 0.6083, but at the moment there is a high probability of correction to the imbalance zone. The reason is that we approached the zone too quickly, we need to accumulate the pre-breakout potential. But, if the bulls manage to consolidate above the resistance, then the market will move to the realization phase after the trend line breakout. Resistance levels: 0.60828, 0.61475 Support levels: 0.6036 Fundamentally, the environment points to the continuation of growth. Technically, the bulls will have to pass through the trigger at 0.60828 to start the realization phase. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:NZDUSD ;) Regards R. Linda!
Long
by RLinda
2
EURUSD → ATH update, false breakdown, but there are nuances...FX:EURUSD continues to strengthen, updating the December 2023 ATH and forming a false breakout that could form a small correction before a possible rise. . The key level is 1.1123, as well as the high of 1.1173. The struggle for the lower level continues, bears are not letting the price up, expecting to capitalize on the correction before the news. The focus is on Powell's speech, which will take place at 14:00 GMT. His tone, prerequisites and comments could set a strong medium-term backdrop for the markets. Technically, 1.1075 has formed a pool of liquidity that could be of interest to MM. But we need to watch price behavior, a small correction and a retest of resistance or consolidation near the level will be a good signal that the bulls are ready to go higher. Resistance levels: 1.1123, 1.1173 Support levels: 1.1047, 1.1009 The price is currently in the consolidation phase. The correction may start, but if the price turns to retest 1.1123, it is worth considering a breakout strategy and further growth. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:EURUSD ;) Regards R. Linda!
Long
by RLinda
4
SOL → Accumulation in the bullish trend continues ↑BINANCE:SOLUSDT after the shakeout relative to resistance and triangle support continues to consolidate again on the background of the bullish trend. The priority of the figure is the continuation of the current trend. The strong fall due to fundamental reasons: the US unemployment rate, profit-taking and panic are quickly bought back, bringing the coin back into the range, which in general hints us at a strong bullish component of the market. After a retest of 162.45 resistance, a correction is forming, 0.5 fibo may be tested, or trend support before further upside. Emphasis on triangle resistance, a retest or pre-breakout consolidation may be formed before a breakout. Support levels: 141.2, 136.7, 126.4 Resistance levels: 162.45, 188.32 Fundamentally, the menet has a good potential. Technically, the price is in a sideways movement, but against the background of a global bullish trend. After consolidation, a distribution is formed and our task is to understand in time when this distribution can start... Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:SOLUSDT ;) Regards R. Linda!
Long
by RLinda
9
KLAYUSDT → Transition from bearish to bullish trendBINANCE:KLAYUSDT is entering the distribution phase after exiting the accumulation. The price is resting at the range boundary, but there are prerequisites indicating a possible continuation of growth Emphasis on the key level of 0.1600. I like the accumulation formed near the level. The key aspect, to forge a further scenario with the purpose of opening entry, I expect a retest or accumulation under the level, which will mean that the coin is ready to go even higher. On W1 the coin is still in consolidation and is not going to bottom, on D1 the price is breaking the resistance of the wedge, a pattern capable of reversing trends. Resistance levels: 0.1600 Support levels: 0.5, 0.7 fibo, 0.1246 Technically, such a rise may be followed by a correction either to the local lows on H1 or to the Fibo zone, but a quick retest will increase the chances of a breakout and growth. But, if the bulls manage to go beyond 0.160 and form a consolidation, the growth may start much earlier. Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:KLAYUSDT ;) Regards R. Linda!
KLong
by RLinda
2
PEPE → Pre-break consolidation and retest of MA-200BINANCE:PEPEUSDT is consolidating after a shakeout. Bulls are emphasizing the resistance at 0.00000827. On W1, the coin is consolidating above key support, which is a good sign amid the overall bullish trend. PEPE is trading above trend support and is not going to go down yet. A decrease in volatility is forming - “consolidation” character of the movement. After retesting the resistance, the price returns to the level for another test, which only increases the chances of a breakout of the area. Consolidation of the price above this area may affect the breakout of MA-200, which will be a confirmation of the readiness to go up. Technically, the zone of interest is 0.00001088 and “ob” in the zone 0.000013. Resistance levels: 0.00000827 Support levels: 0.000007615 We continue to follow the price. The trend is bullish and there are no preconditions that would lead to a trend change. Technically, I expect an attempt to break the upper boundary of consolidation and further growth to the specified targets. Regards R. Linda!
Long
by RLinda
3
BNX → The coin is stronger than the market. Bullish trendBINANCE:BNXUSDT looks quite strong relative to the entire cryptocurrency market, maintaining an already strong bullish trend. The price is forming a range and it is worth paying attention to its boundaries... The situation is complicated by panic, bitcoin is unstable and thus creates unnecessary volatility in the whole market. The ideal outcome would be to stop the market and reduce volatility or consolidate so that action can be taken. But in fact BNX looks stronger than the market and this is worth taking into consideration. The focus is on the strong 1.4252 - 1.2800 range. Because of the challenging technical environment, two scenarios are worth considering (but I like the resistance breakout the best) If the bulls hold 1.2800 and start gradually approaching 1.4252, we should expect a breakout with further upside to 1.75 range resistance or even higher in the long term. Support levels: 1.28, 1.1618 Resistance levels: 1.4252, 1.5161 However, if the bulls fail to hold 1.28 and the price breaks the support on the background of high market volatility, it may test 1.1618 - 1.0399 once again before further growth, as the uptrend is still in place Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:BNXUSDT.P ;) Regards R. Linda!
Long
by RLinda
2
EURCAD Broke a Key Up Trend Support lineEURCAD has established a divergence and formed a double top at the resistance zone. Recently, the price broke through a long-standing supporting trendline, and the close below this trendline signals a bearish outlook. The price also bounced off the resistance area, triggering a bearish impulse move. I expect the market to continue moving downward toward the support level, retracing from the resistance to test the channel boundary. The target is the support level at 1.50650
Short
by RTED_Investing
SPX Technical Analysis BreakdownHere is my technical breakdown of SPX on the 4 HOUR time frame... We started the month of May with an up-trend trend line bounce on a key support level which saw SPX climb slightly passed the support zone to surpass another key zone After this climb, we saw it accumulating in a RANGE from 14th May - 29th May, where it eventually broke to the downside. Normally this is a trade we would enter as it's a big volume range break, however, it broke downwards to touch a key support zone. In my experience this is NOT a trade worth taking as they are opposite confirmations. Later in July we finally got the RANGE trade we were looking for, when 17th June - 5th July we saw it's ACCUMULATING RANGE break with large volume to the UPSIDE. This trend was worth entering as it was heading towards a key resistance area, a great place to exercise your exit strategy. Once SPX hit the key resistance zone it bounced off and formed a downward trend line that would also be hit later down the line, confirming its relevance. When SPX hit the resistance line it found plenty of BULL TRADERS on the key SUPPORT level and bounced back up to touch the key RESISTANCE level on 20th AUGUST, where once again it touched the downward trend line. WHAT TO LOOK FOR NOW - I'm watching to see if SPX enters the resistance zone and breaks the trend-line and exits the zone, that's two confirmations for an uptrend which makes me confident in the long trade. On the other side, i'm waiting for the trend to retest key support zones where I will be waiting for a key zone breakout or bounce back to the resistance level.
SP:SPX
by I3ig_Trades
GBPUSD → False breakout of the range boundary FX:GBPUSD is testing wide range resistance in the distribution phase against the backdrop of the falling dollar. The market spent energy on strong growth and there is little chance of a breakout of 1.305, a correction or consolidation may follow. GBPUSD strengthens the bullish trend, but on its way meets strong resistance - the border of the range. Within the range, the price may form a correction to the nearest liquidity zones, such as 1.297, 1.294 or 0.5 fibo. Fundamentally, the dollar is declining amid the dovish stance of the Fed. The focus is on Friday's speech of Powell. The official's strong hints may intensify currency movements and volatility in the market. Support levels: 1.297, 1.294, 1.292 Resistance levels: 1.3044 Technically, a reversal follows after a strong rise and a false breakdown. The range boundaries are still in place and continue to hold the price Regards R. Linda!
Short
by RLinda
4
GOLD → Traders consolidate ahead of news...FX:XAUUSD is forming a trading range. The emphasis is on 2531 - 2485. On the background of profit-taking, before the news, the price may test the support before further growth. . The fundamental environment is the same: tensions in the Middle East and focus on Powell's comments on Wednesday and Friday. Today it is worth paying attention to the FOMC meeting, which will take place at 18:00 GMT. People are not interested in the rate cut itself, but in hints, comments and statistics. Technically, the global bullish trend continues, but before the news traders are not ready to take any important actions to continue the trend. On the background of profit-taking or manipulation, the price may come down to liquidity zones before further rise. Resistance levels: 2510, 2525, 2530 Support levels: 2495, 2488 The focus of his trading strategy is to build a bullish trend, which is still dominating the gold market. But, it is worth paying attention to the news. Regards R. Linda!
FX:XAUUSDLong
by RLinda
3
GOLD → We're up to 2500. What's next, up or down?FX:XAUUSD is updating its historical high due to fundamental reasons. At the moment the market is struggling for 2500, at the same time the dollar is showing the prerequisites of readiness to go south. Fundamentally, there is a lot of interest in gold for several reasons: Crisis in the Middle East, expectations of Iranian action. A shift in the policy dovish view of the economy by the Fed Jackson Hole Symposium. Traders are quite positive, in anticipation of Powell's comments on the economy and their impact. Technically, a strong bullish trend and the realization of accumulation is forming on D1. The price updates the high and closes Friday's session very promisingly (at the weekly and daily high) A price consolidation above 2510 will be a good starting point to the next psychological levels. Resistance levels: 2510, 2525, 2550 Support levels: 2495 Technically, the focus is on the 2510 - 2495 range. If a false breakout of resistance is formed, profit-taking or MM actions may provoke price decline to the imbalance zone before further growth. But, a confident consolidation of the price above the resistance may form an impulse to 2525. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
14
GBPUSD → Double bottom + false breakdown = reason for growth ↑FX:GBPUSD is changing its course to the north. Double bottom, false breakout, return in trend boundaries, support in the form of MA-200 & MA-50 is the reason to change the market mood and give confidence to speculators. An interesting and promising picture is forming on D1. The price on the background of the retest is confidently consolidating above the previously broken resistance of the symmetrical triangle, which held the market within its boundaries for quite a long time. Against this background, hedge funds increased their longs in GBP to the maximum for 6 years Technically, the focus is on the resistance at 1.2894. The primary retest may provoke a small rebound, but against the background of strong buying and weak dollar, the big buyer is still in the game, this fact may lead to the break of the key resistance and further growth to 1.30 - 1. 32 Resistance levels: 1.2894 Support levels: SMA, 1.2818 If the price is able to consolidate above 1.2894, we should expect further growth. But at the moment there is a high probability of a small correction before further growth. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:GBPUSD ;) Regards R. Linda!
Long
by RLinda
3