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CADCHF WITH A DOUBLE BOTTOMS FORMATION FOR A BULL RUN AHEAD!Spotted an interesting neckline breakout on the following double bottoms formed where we can expect the bull run to happen after this nice breakout and pullback formed on the 4-hour to daily timeframe. Thanks for visiting my tradingview profile. Hope the chart update helps you out. If you like the content do hit the thumbs up and follow me for future updates. 🙌🏻😎 📌For more details regarding this chart update, please message me on tradingview chat. Thank you!
Long
by traderchamp_
BITCOIN DID A BEARISH BREAKOUT ON $16750 SUPPORTBitcoin has breached the support or key level formed close to $16750 and here we can clearly identify a pullback formation. The price of Bitcoin is expected to revisit the bottom support at $16,000 where the bearish trend will be continued. Thanks for visiting my tradingview profile. Hope the chart update helps you out. If you like the content do hit the thumbs up and follow me for future updates. 🙌🏻😎 📌For more details regarding this chart update, please message me on tradingview chat. Thank you!
Short
by traderchamp_
GOLD IS UNDER 1802 RESISTANCE The recent price created this week managed to respect the resistance formed in 1802 and here now we are required to identify the next possible direction in terms of the structure formed. The 4-hour timeframe formed a rising wedge pattern where it came off with a bearish breakout. But the price managed to show a reversal back to revisit the price level it breached very quickly. This minor resistance is acting as a key player here where it supported the price of gold one more time to lift off before a sell-off. Gold even continue the rally to the upside if sellers' pressure gets weakened forming a fake breakout off the lower boundary formed for this rising wedge pattern. By any chance, if the price of gold still manages to respect the structure, then we will see a nice sell-off which can revisit close or below $1760
OANDA:XAUUSDShort
by traderchamp_
CRUDE OIL DIPS AFTER CHINESE DEMAND WORRIESUSOIL has made another drop of 18% after a high visit closed to $93 on the daily timeframe. This drop confirms that the price has revisited the following daily highlighted support close to the current market price of $76. We have seen a minor buying pressure close to this level which can be supportive of a bullish reversal. On the hourly timeframe, I have witnessed that the price formed a nice "M" formation or a double tops formation which is another supporting setup for the idea of a bullish reversal. The target expected on the bullish reversal is close to the neckline holding $82. Oil prices fell 2% on Friday in thin market liquidity, closing a week marked by worries about Chinese demand and haggling over a Western price cap on Russian oil. Brent crude futures settled down $1.71, or 2%, to trade at $83.63 a barrel, having retraced some earlier gains. China, the world's top oil importer, on Friday reported a new daily record for COVID-19 infections, as cities across the country continued to enforce mobility measures and other curbs to control outbreaks. This is starting to hit fuel demand, with traffic drifting down and implied oil demand around 1 million barrels per day lower than average. Trading is expected to remain cautious ahead of an agreement on the price cap, due to come into effect on Dec. 5 when an EU ban on Russian crude kicks off, and ahead of the next meeting of the Organization of the Petroleum Exporting Countries and allies on Dec. 4.
TVC:USOILLong
by traderchamp_
2
DXY CAN DO A BOUNCE HERE ON THE SUPPORT FORMEDCheck out the trade plan for DXY today based on the technical analysis. Hope this analysis is useful, make sure to hit the thumbs and also follow my tradingview profile for future updates. Thank you! DXY has revisited the key level as expected and showed through our previous analysis and here we are expecting a possible bounce back on the highlighted area as supported by concerning the recent price action on this current level. By any chance, if DXY fails to hold up the bears on this level then we will see another hard dump breaking the support.
TVC:DXYLong
by traderchamp_
GOLD SHORT TERM TECHNICAL OVERVIEWCheck out the trade plan for XAUUSD today based on the technical analysis. Hope this analysis is useful, make sure to hit the thumbs and also follow my tradingview profile for future updates. Thank you! Gold is forming a neutral market zone inside a Support and Resistance after the breakout confirmation on the bullish trend. More chances to the downside or possible breakout on resistance to the upside if bulls remain stronger before a correction is needed.
OANDA:XAUUSDShort
by traderchamp_