HelenP. I Gold can exit from triangle and continue to declineHi folks today I'm prepared for you Gold analytics. Some time ago price reached the resistance level and even entered to resistance zone, but at once turned around, exited from the resistance zone, and fell below. Next, XAU some time traded near the resistance level, after which it made impulse up to the trend line, thereby breaking the 2355 level. After this, the price at once made a strong impulse down inside the triangle pattern, breaking 2355 and 2305 levels. Then Gold started to grow and in a short time rose higher than the 2305 level, which coincided with the support zone and rose to 2342 points. But then the price made a correction movement to the support zone, after which rebounded up to the trend line, which is the resistance line of the triangle also, and started to decline near this line. Just now, the price trades near the support line of the triangle and continues to decline. For this case, I expect that XAUUSD will rise to the trend line and then continue to decline to the support level, exiting from the triangle pattern. Then price can break the support level and continue to decline next, therefore I set my goal at 2280 points. If you like my analytics you may support me with your like/comment ❤️
Triangle
CADJPY: More Growth is Coming 🇨🇦🇯🇵
CADJPY look very bullish on a daily time frame.
I see a confirmed violation of a neckline of an ascending triangle formation.
Because the pair is trading in a long term bullish trend
the growth may easily continue.
Next resistance - 115.4
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Notcoin heading to a supply zoneThe last analysis I made, there was a chance that GETTEX:NOT would break the trendlin of the descending triangle. But it didn't, so we saw a bearish move coming from it.
Secondly there was an ascending channel which implies a bearish stance which happened over the past days already. The last line of defence for $Notcoin to pump again, is an old supply zone.
If broken, Notcoin could revist it's lowest prices.
USDJPY Analysis and Trade OpportunitiesLike I mentioned in our weekend live session, I don't see any BOJ intervention happening soon.
The earliest I’m looking is when the market reaches 158.73, with the next level at 159.66.
Around 157.74 is the level I'll be looking for a buying opportunity using the existing strategy that I've used for many years.
Key Levels:
Potential Intervention Levels :
- 158.73
- 159.66
- Buying Opportunity : Around 157.74
Shorting Opportunities :
1-Hourly Chart :
- Bearish Bat Pattern Completion : 158.15
- ABCD Pattern Completion : 158.39 if the Bearish Bat Pattern does not complete
Strategy :
- Buying at 157.74 : Use the tried and tested strategy that has worked over the years.
- Shorting Opportunities : Monitor the 1-hourly chart for potential Bearish Bat Pattern at 158.15 and ABCD Pattern at 158.39.
What’s your trade plan for USDJPY? Any valuable insights you’d like to share? Comment down below.
GBPUSD Sideways Consolidation with Potential Upside BreakoutTimeframe : Weekly and 4-Hourly Charts
Predicted Move : Potential Upside Breakout
Analysis :
On the weekly chart, GBPUSD is currently in a sideways consolidation phase. Although the pair is near the top of this range, there seems to be a tendency for the market to break towards the upside. This observation is based on my 18 years of trading experience and intuition.
Key Points :
- Sideways Consolidation : GBPUSD is trading within a defined range on the weekly chart.
- Near Top of Range : Price is approaching the upper boundary of the consolidation.
- Potential Upside Breakout : Market tendencies suggest a possible break to the upside.
- Trading Experience : This analysis is supported by my 18 years of trading experience and gut feeling.
Strategy:
- Retest and Buying Opportunity : If you share my perspective, I'm looking for a retest within the buy zone on the 4-hourly chart at 1.2666 for a buying opportunity.
- Understanding the Buy Zone : It may seem like the buy zone has been broken, but with professional chart reading, it's evident it hasn't.
Note: This analysis is based on my personal trading experience and should not be followed blindly. Always conduct your own research and analysis before making any trading decisions.
Stay cautious and trade wisely!
EURUSD Sideways Consolidation with Key Levels for TradingTimeframe : Weekly and 1-Hourly Charts
Predicted Move: Sideways Consolidation with Specific Levels for Trading Opportunities
Analysis :
On the weekly chart, EURUSD is in a sideways consolidation phase and is currently at the bottom of this range. For precise entry points, I'll be closely monitoring the 1-hourly chart.
Key Points:
- Sideways Consolidation : EURUSD is consolidating within a defined range on the weekly chart.
- Bottom of Range : Price is at the lower boundary of the consolidation, suggesting potential buying opportunities.
Key Levels on 1-Hourly Chart:
- Shorting Opportunity : 1.0739 is my preferred level for considering short positions.
- Buying Opportunity : 1.0668 is my preferred level for considering long positions.
Strategy:
- Monitor Key Levels : Watch the price action around 1.0739 for shorting and 1.0668 for buying opportunities.
- Confirmation : Look for confirmation signals on the 1-hourly chart before entering trades.
Discussion:
Potential for Parity: The question of whether EURUSD might hit parity again is intriguing. While the current consolidation phase doesn't indicate an immediate move to parity, significant macroeconomic events or shifts in market sentiment could drive the pair towards parity. It’s essential to stay updated on fundamental factors and market news that could impact EURUSD.
Note: This analysis is based on my trading experience. Always conduct your own research and analysis before making any trading decisions.
What’s your take on EURUSD? Do you see the potential for it to hit parity again? Share your thoughts!
SFPUSDT → Waiting for a bullish RALLY from 0.8650BINANCE:SFPUSDT shows a beautiful bullish picture. An interesting coin that has been accumulating potential for two years and currently shows bullish prerequisites for a possible growth or even a rally.
The coin continues to push towards 0.8137, a liquidity area that plays a key role in the market. Consolidation continues, but based on the overall situation, the denouement is close enough. It is worth paying attention to the resistance of the ascending triangle on the daily timeframe: 0.8630 - 0.8650. Breakout and consolidation of the price above the key figure can become the reason for activation of the phase of realization of the accumulated potential, which can give us the growth to 1.10, 1.32, or 3.1.
Support levels: 0.8137, 0.7500
Resistance levels: 0.8629, 1.0, 1.3238
The movement is slow, lagging behind the entire cryptocurrency market, but shows interesting prerequisites for a possible bullish momentum. Targets are indicated on the chart
Regards R. Linda!
TON → The bulls are almost ready. Breakout 7.23, rally ...OKX:TONUSDT is starting to show bullish potential. This is quite interesting for us, because, in general, the coin's potential is huge. BTC momentum could push the coin to rally.
The bulls have held the defense above 5.985, forming an intermediate bottom. In the current range, the 6.45 - 6.65 area, where the maximum number of coins have been traded (bought), is a zone of interest for the big player and he will try to defend it. The range of market accumulation is 7.23 - 6.23. Until the price leaves this range, the market will be flat.
It is worth paying attention to the local descending resistance. There is an attempt to break through it and the price may strengthen to 7.23. The whole emphasis is on this area. A correction or pre-breakout consolidation may form before the breakout.
Resistance levels: 7.23, 7.67
Support levels: 6.7, 6.23
I am waiting for the retest of 7.23. It is interesting to see the reaction from which it will be possible to form further strategy (pullback or breakout). The probability of a breakout is increasing on the background of a strong bitcoin.
Regards R. Linda!
Quilter Seeking a Weekly/Yearly LowQuilter is moving into a long weekly cycle, currently in week 42. Price is also seeking a yearly low, the last was the COVID low and we are well below that level. Ideally we want price to go below the previous weekly low (R16.61), this gives a good runway to the upside. The dashed pink line is where we will have confirmation of a weekly low by closing above this line on a weekly basis. The dashed green line is we will get a confirmation of a yearly low by closing above this line on a yearly chart.
The blue line is the daily cycle line, closing above this on a daily chart with a swing low means we have left behind a cycle low. Of interest is the intersection of support formed by previous weekly low horizontal blue and a median line of the Pitchfork, double support usually provide turning points. Higher risk entry would be a close above blue daily cycle line.
Last chance for Bitcoin! Up or Down?bitcoin is still playing this triangle, for about 5 months now, if it is broken down the first TP is at 60k, and a probable retest of the support at 52k, but if we go up, and the triangle will be broken up, my first TP it will be at 85k, with a possible increase up to 100k (total production cost) in your opinion is it going up or down?
NOT ▵ → Is a rally possible now? Why is 0.020 so important?BINANCE:NOTUSDT breaks the resistance of the descending wedge (bullish set-up) and forms consolidation inside the range 0.0169 - 0.0199. A retest of support or the previously broken pattern boundary before rising is possible.
NOT under dump, after a strong rally, has eliminated some traders and may strengthen at the moment after the bulls hold the defense above key support and liquidity zones. The coin is in a consolidation stage after exiting the descending range. The market's transition to the stage of active strengthening and growth may be a breakout and consolidation of the price above 0.0188 - 0.0199. The potential of the coin both technically and fundamentally is quite tempting, but everything depends on the bulls.
Resistance levels: 0.0188, 0.0199, 0.023
Support levels: 0.0169, 0.0153
Since the price is inside the range, for an active price action the price must overcome one of the boundaries, the most likely scenario is a retest of the support (false breakdown) before further growth.
Regards R. Linda!
Gold can exit from triangle and then drop lower support levelHello traders, I want share with you my opinion about Gold. Looking at the chart, we can see how the price a not long time ago declined a little lower than the buyer zone, but soon turned around and made a strong impulse up, breaking the 2325 support level. Later price reached a resistance level, which coincided with the seller zone and broke it too, after which made little correction and then continued to grow to the resistance line. When the price reached the resistance line, it turned around and in a short time declined to the support level, breaking the 2385 level one more time. Next, the price some time traded near the support level and later broke the resistance line, after which rose to the resistance level and at once made a downward impulse, lower than the 2325 level, breaking it. Also, Gold started to trades inside the triangle, where it bounced from the support line and quickly reached the support level, broke it, and reached the resistance line of the triangle. To this day, the price continues to trades near the resistance line, so, that's why I think that Gold can exit from the triangle pattern and then make drop lower support level, breaking it. For this case, I set my TP at 2290 points. Please share this idea with your friends and click Boost 🚀