Mihai_Iacob

Mihai_Iacob Updated 

On Friday, following the release of the NFP data, Bitcoin experienced a sharp drop. However, by the end of the day, the price failed to gain further downside momentum, and instead of continuing lower to test the support of the flag formation (where Bitcoin has been trading for the past six months), it reversed to the upside. Moreover, yesterday, Bitcoin formed a...

Mihai_Iacob Updated 

In my comment yesterday, I speculated about the nature of the breakout, as it had been clear after a month of testing the all-time high (ATH) that an upward move was imminent. The breakout was strong, suggesting more gains and new ATHs in the future. The new ATH is now set at 2570, and the price is currently undergoing a normal correction. While the old ATH...

Mihai_Iacob

Since hitting a high of 0.22 in April, Doge has been in a downtrend. However, the chart shows that dips below 0.1 have consistently been bought, leading to strong reversals each time. The final phase of the downtrend is forming a falling wedge, which often signals a potential reversal. For confirmation of an upward reversal, we need a clear breakout above...

Mihai_Iacob Updated 

Yesterday's CPI report failed to provide a clear direction for Gold's mid-term movement. After initial volatility, during which the $2500 level held as support for the fourth time in two days, Gold once again closed the day near the middle of its range. While we can't draw a definitive conclusion from the price action, it seems that the price is pressing towards...

Mihai_Iacob

In my previous NAS100 analysis, I mentioned that as long as 19,500 held as resistance, a drop to 17,000 was likely. Initially, the index did begin to fall, but it found strong support at the April all-time high (ATH) and reversed upward. Now, the price is once again approaching this crucial resistance. Looking at the chart, we can clearly see the significance of...

Mihai_Iacob Updated 

After dropping near the 1.1 support level, EUR/USD began recovering its losses and successfully reclaimed the 1.11 resistance level. However, after testing the 1.1150 resistance (which previously acted as support during the top formation), the release of the Non-Farm Payrolls (NFP) data triggered a strong reversal, pushing the pair back below the 1.11 support...

Mihai_Iacob Updated 

In my August 8 analysis, I highlighted the Morning Star pattern, which retested the previous resistance of the broken triangle, signaling a potential reversal to the upside with a target above 1.31 for the next leg up. As anticipated, the price did reverse, and not only was the target reached, but it was also surpassed. However, after breaking above the...

Mihai_Iacob

After reaching an all-time high (ATH) above $2 at the end of March, SUI entered a correction that pushed the coin below the key $1 level, reaching a low just under $0.50 on August 5th. However, SUI quickly recovered, and by August 8th, the SUI/USDT pair had broken above the falling resistance line of the channel, hitting a high above $1 on August 12th. Following...

Mihai_Iacob

After briefly dipping below the crucial 120 support level, Solana managed to recover some of its losses from the recent high of 190, climbing back up to 160. At this point, it encountered strong resistance, and after the second attempt to breach this level, the price started to decline again. However, the drop was swiftly halted at the 120 support zone, and the...

Mihai_Iacob

As expected, ETH/USD experienced a sharp decline last week, revisiting its recent low. After this sell-off, the price began to recover and has now risen back to the previously broken support level. However, the rise has been choppy, overlapping, and corrective in nature, indicating that the downtrend may not be over just yet. A stop hunt above 2400, especially...

Mihai_Iacob

As previously explained, I believe XAU/USD is poised for a significant decline, and I indicated my sell zone between 2505 and 2510. However, after the initial drop from this zone, Gold found strong support at the 2500 level, which led me to close my sell position. Looking ahead, at this moment, the price seems well-bid and is steadily rising within a channel....

Mihai_Iacob

The Japanese Yen (JPY) has been one of the weakest currencies in the past three years, with some pairs experiencing a significant 70-80% devaluation, particularly against CHF, EUR, and GBP (CHF/JPY, EUR/JPY, GBP/JPY). However, since reaching a low in early July, the JPY has shown signs of reversing. When looking at the JPY Index (see posted chart), we can...

Mihai_Iacob Updated 

It's been a challenging few weeks for XAU/USD traders, especially for those of us who prefer swing trading with larger targets. As a directional trader, I usually aim for 400-500 pips per trade, but the recent market conditions have tested my strategy. With the total range being only around 600 pips over the past couple of weeks, volatility has been limited from...

Mihai_Iacob

Similar to other USD pairs, AUD/USD experienced a drop on Friday, breaking below a head and shoulders pattern. This breakdown signals a strong potential for further downside. As long as the 0.67 resistance level holds, my strategy is to sell into rallies. The 0.6575 zone serves as a key target for bearish traders.

Mihai_Iacob

In my weekend analysis and yesterday’s video, I expressed the view that XAU/USD has turned bearish in the mid-term, with the potential for a drop below the 2475 support zone. After initially pulling back to the NFP low, the price rebounded and returned to my sell zone between 2505-2510 (as previously explained). However, this recovery from 2485 seems more...

Mihai_Iacob

In my Friday analysis, I mentioned that if the DXY drops below the support zone, defined by the recent low and the year's starting price, we could expect further downside. Initially, following the release of the NFP data, the price did decline, but it quickly reversed after reaching the support level, forming a strong bullish reversal candle with a long tail on...

Mihai_Iacob

After dipping to 50k in early August, Bitcoin staged a recovery and climbed to 65k. However, the bullish momentum lacked follow-through, as buyers were unable to push past the resistance of a large flag pattern that has kept Bitcoin in a corrective phase for months. In the short term, Bitcoin’s price pulled back down from 65k, initially forming what looked like a...

Mihai_Iacob

There’s no better time to post this educational article than right now. Despite constantly reminding myself to "trade what you see, not what you think or hope," two days ago I did the exact opposite. I ignored a clear double Pin Bar formation at a support level, which resulted in me taking a stop loss. Ironically, I knew better. But, as the saying goes, "Do as...