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Descending Channel

EURUSD → Weak market. The target is 1.06. But, news... FX:EURUSD is forming a consolidation, characteristic of a pre-breakout, against a key support line as the dollar index continues to gain support and hold north. A strong bearish situation is developing on D1. There is no strong buyer in the market that can turn around a weak market under pressure from strong bears. The market is below the MA200-MA50 daily moving averages and is also forming consolidation relative to the support, which with a high degree of probability speaks about the intentions to go lower. On H4 the price is in consolidation, above the local maximum is the area of liquidity, as well as resistance, which can test the market before the subsequent decline. BUT! Today's news. Traders are waiting for PCE inflation data.... Resistance levels: 1.07238, 1.07816 Support levels: 1.0664, 1.0606 Technically and fundamentally, the currency pair is in a neutral-negative outlook. If the fundamental background does not change today, I will still stick to the downward movement to 1.06- 1.055. Regards R. Linda!
Short
by RLinda
7
PEPE → The end of the correction may take us back to an uptrend BINANCE:PEPEUSDT - the meme coin is showing signs of a possible end to the correction and a return of price to the bullish trend continuation phase. On the local timeframe, the price forms an exit beyond the resistance of the descending channel, characteristic of the correction against the background of the bullish trend. Against the background of bitcoin capitulation and the general mass of altcoins, the meme coin PEPE looks quite cheerful. The price can move into the phase of the 5th wave realization if the bulls can keep the defense above 0.0000114. The next boundary is the range resistance. The breakout of this area will be a green traffic light signal for the buyers, the potential of which could strengthen the price towards ATH Resistance levels: 0.0000125 Support levels: 0.0000114, 0.00001084 I expect that the bulls will do their job and will soon be able to bring the price to the nearest resistance, where a fierce struggle for further space between buyers and sellers may take place. Regards R. Linda!
Long
by RLinda
7
GBPUSD → The market maker's trap. Ready to go down ↓ ?FX:GBPUSD is losing after a prolonged struggle for resistance. A major player does not let the market beyond 1.2800. On the background of the dollar growth, the currency pair may change the local trend The fundamental background is unstable, the US dollar is still going through Wednesday, but based on the position of regulators the dollar looks ready to strengthen further, which is generally negative for GBPUSD. On D1, the area of 1.285-1.28 is worth watching. A major player is not still holding the barrier of limit resistance zones. After a shakeout and liquidity grab (trap from the market maker), the market is ready to go down as the current zones of interest are 1.258-1.257, 125. Support levels: 1.271, 1.265 Resistance levels: 1.28 Technically, we should wait for a pre-breakdown consolidation and subsequent breakout of 1.271, or price consolidation below this area. Having received confidence and confirmation of readiness to decline, we can wait for the previously mentioned targets. Regards R. Linda!
Short
by RLinda
2
EURUSD → Readiness for further decline. Target 1.0600FX:EURUSD is in a bearish channel. The price is below the resistance at 1.0725, there is a possibility of retesting the liquidity area before further decline. The fundamental background is weak and the actual target is 1.0606 Globally, the market is neutral-bearish. The lower boundary of the symmetrical triangle on D1 is the actual target (testing the liquidity area). Based on the general situation on H4 it is worth paying attention to such zones as: Resistance: 1.0725 (possible false breakout) Support: 1.069 (breakdown. Consolidation below will activate sell-offs). The market has a potential of about 1.10%. No news today, the fundamental and technical background is still in place. Resistance levels: 1.0725, 1.0812 Support levels: 1.069, 1.0606 On the daily timeframe, last week is closing very poorly, which most likely may hint at a possible continuation of the decline. The key target has not been reached yet, the potential is open. Regards R. Linda!
Short
by RLinda
4
PEPE still in Decending Chanel but there is hopePEPE is in the huge Decending Chanel and it's almost weekend. What can we distract from the charts. Before we look into PEPE charts I've check BTC and we are still in de sideways accumalation channel there. On the other hand we see this massive AcendingTriangle that must break out soon. The question here is will ik go up or down. Again is friday and most weekends aren't that strong. Inside the AT we can find a Faling Wedge at the end... Those tend to break out to the upside. But again almost weekend.. Will it crawl up along the slope of the AT for a huge break out by monday. Or does it break down and grap more liquidity to gain momentum. Now the PEPE chart PEPE is still in de decending chanel. It did bounce on the Golden Pocket of the fib range so it tends to go up a bit. On the other hand we lost the support yesterday and that is now the resistance. On the lower time frames we could make some kind of double bottom but that is not a textbook version so trusting it is gambling. Lets see if we can get a reversal pattern like an Inverse Head & Shoulders or a nice Cup and Handle.
by RP_cryptotrader
2
Bitcoin - Final capitulation before a new ATH (62k)Bitcoin is almost ready for the final capitulation event at 62k. Is this a lifetime opportunity to buy BTC and catch the bottom? Definitely yes, you can do it pretty precisely at 62402 with your limit order. Why is this level so important? The most important is the 0.618 Fibonacci level that we can measure in the previous impulse wave. Second, we have an unfilled Fair Value GAP (FVGAP) that was created on May 15, 2024, during a significant pump. But with these types of GAPS, they tend to get filled, so the probability is relatively high. Third, we have the Point of Control (POC) of the previous market structure. You can see this level on the volume profile indicator on the left side of the chart.  Levels around 62k are really significant, and we can expect a strong reaction from them. But what about Elliott Wave analysis? My Elliott Wave count suggests, that the previous uptrend is definitely an impulse wave (12345), which gives us more confidence in the overall bull run. Now, the corrective wave (WXY) is in progress, and we need to find its bottom. At this point, we don't really know if it will be a WXY (double three) or WXYXZ (triple three) pattern. But the 0.618 Fibonacci level is a strong support, and we should finish the corrective wave here! After we finish this corrective wave WXY, we can mark it as wave 2 of a higher impulse wave (higher degree) and prepare for a 3rd wave, which will lead us to an all-time high. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
BITSTAMP:BTCUSDShort
by Xanrox
78
NZDUSD → Local trend change? Moving down ↓ ?OANDA:NZDUSD breaks trend support amid a strong dollar. The currency pair could move to the downside if the bears hold the resistance area on their count. On the daily timeframe, the currency pair is inside the sideways channel, but at the same time breaks the ascending support line. Thus, the market is starting to look towards 0.6084 support as an area of interest. The US market has a day off today, so the volatility may be low, but nevertheless we have prerequisites for the beginning of the downward movement. If the bears keep the price below 0.6150-0.6140, the market may enter the phase of downward movement and head towards such targets as: 0.6083, 0.6000. Resistance levels: 0.6140, 0.6170, 0.6215 Support levels: 0.6083, 0.6000 At the moment the market is struggling for the area of 0.6140. Consolidation below the level or the beginning of the impulse to the support will confirm that the bears are holding the market, then we will have to wait for the achievement of the goals. Regards R. Linda!
Short
by RLinda
2
Bitcoin - historical bull trap! + Name your altcoinMake sure you prepare for this huge historical bullish trap on Bitcoin. Why? First, look at the price action. We have a bullish flag, that's what everyone sees. The market makers count every cent on their accounts, and this is a pretty good opportunity for them to make a lot of money by trapping retail traders. What will a typical retail trader do in this situation? Probably buy/long BTC at around 71k to 75k. That's where the whales step in and start selling, sending BTC back to 63k! Why 63k? This is a strong support because we have an unfilled FVGAP + Point of control (POC) of the previous market structure. I really don't see any bullish sentiment during the summer season, as statistically, Bitcoin has been going sideways.  From the Elliott Wave perspective, we are in wave 5 of the first impulse wave, which is of course very bullish for the long-term, but buying at the end of wave 5 is probably not a good idea. What successful traders generally do is wait for an ABC corrective pattern to form before buying. In the comment section, name your altcoin, and I will make a technical analysis for you and my opinion! Please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
Short
by Xanrox
261
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!
Long
by RLinda
11
GBPUSD → Negative fundamental backdrop could break the trend FX:GBPUSD is bumping into a strong limit resistance zone lined up by sellers. As the fundamental background changes, the bears are strengthening their positions. An impulsive downward movement is forming in the market The opening session is formed with a gap on D1, in general this is rare in the forex market, but indicates potential. We are interested in the level of 1.271. A break of this area will be a trigger for a fall, because, in general, the short and medium-term outlook based on the fundamental background is predetermined. Most likely, the first test of the support area will be followed by a bounce, but a retest of the support will strengthen the chances of a breakout and further decline to our target. Resistance levels: 1.28 Support levels: 1.271, trend support In the long term, we are waiting for a test of support and market reaction to the mentioned area. The local trend may be broken. Consolidation of the price in the selling zone will be the confirmation. Regards R. Linda!
Short
by RLinda
4
If bonk validates the channel breakout here target = .00003736The previous daily candle closed with he top trendline of the channel as support and now the current candle is seeing a bullish impulse suggesting the tp trendline has been flipped to solidified support and that it could already potentially be validating the breakout. I’ve seen bigger fakeouts than this before so I’m not ready to say the breakout is confirmed jsut yet but so far probability is favoring it. *not financial advice*
COINBASE:BONKUSD
by DrDovetail
1
Euro can rebound from support level and start to move upHello traders, I want share with you my opinion about Euro. Observing the chart, we can see that the price a not long time ago started to decline inside the downward channel, where it rebounded from the support line and rose to the resistance line, after which continued to decline near this line. In a short time, EUR fell to a support level and even made a fake breakout of it, after which turned around and made a strong upward impulse, exiting from the downward channel. Then price almost reached the resistance level, turned around, and fell lower 1.0810 level, breaking it. But then, EURUSD turned around and started to grow inside an upward pennant, where it broke the support level again and later the resistance level too, reaching the resistance line of the pennant. After this, the price bounced down, breaking the 1.0890 level, which coincided with the seller zone again. But then, the price tried to back up and even made a fake breakout of this level, after which made impulse down, exiting from the pennant. Now, I think that the Euro can decline to a support level and then start to grow, therefore I set my target at 1.0870 points. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
1
GOLD → ECB rate and NFP in the US. What to expect?FX:XAUUSD is supposedly ending the correction wave on the background of fundamentally weaker dollar. ECB rate and US news (Initial Jobless Claims & NonFarm Payrolls) ahead The European Central Bank is expected to cut interest rates for the first time since March 2016 at the end of its June policy meeting later today. Meanwhile, markets now have a better chance of an imminent Fed rate cut amid signs of a slowing US economy. Ongoing geopolitical tensions in the Middle East, continue to act as a safe-haven price for gold. Also, everyone is interested in the NFP (as one of the first signs of the Fed's readiness to loosen the policy), which will be published on Friday. Technically, gold is forming a false break of MA-50 on D1, and breaking trend resistance on H1. All eyes are on the near-term support at 2354-2350 Resistance levels: 2374, 2405 Support levels: 2354, 2350. 2328 Possible support retest (false breakdown or intermediate struggle), which may lead to strengthening of the price. On the background of news, volatility may increase. Regards R. Linda!
FX:XAUUSDLong
by RLinda
8
Alikze »»STX | Ascending channel 1HIn time 1H, it is moving in an ascending channel. 💎 The last bullish leg after an unsuccessful break in the supply area of the previous wave has been corrected, which has extended to the green box. 💎 If the area is maintained, it can grow first to the middle of the channel to break the swing and then to the 2.24 range. In the future, it can continue this growth by maintaining the middle of the channel to the top of the channel. 💎 Alternative scenario: In addition, if the green box area is broken, it can continue the correction to the bottom of the channel and then to the range of $1.95. »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Sincerely.❤️ »»»«««»»»«««»»»«««
Long
by alikze
Where is the SPX most likely headed in the coming yearsAlthough it's hard to predict what the stock market will do in the future, there is already a clear consensus on what is likely to happen. In this chart, I have plotted most predictions from big investment banks like Goldman Sachs and Morgan Stanley to other investors like Michael Burry. I have also calculated the average of all the predictions and plotted it on the chart. I think the most likely scenario is that we retest the lows of the Corona Virus Crisis, and then we trade sideways from there (illustrated with the red arrows). There is also the probability that we bounce off the 3000 SPX as the consensus estimates and then trade sideways from there (illustrated with blue arrows). The main reason we might trade sideways for the coming years is because of a dilemma the Federal Reserve is currently facing. Having to fight a battle between high inflation caused by quantitative easing done during the Coronavirus Crisis, and fighting said inflation by raising interest rates which will make it harder to maintain its 30 Trillion dollars of debt obligations. Likely changing back and forth till there is a deleveraging of the whole system that will last at least 3 years. And since the markets are strongly correlated to what the fed does, this will be the most likely outcome. Let me know your predictions and see if you agree more with the blue arrows or red arrows.
SP:SPXShort
by Blasik
7
GBPAUD Trade Setup: Bearish ChannelGBPAUD has piqued my interest from a mid to long-term perspective. I'm looking at two potential shorting opportunities: Key Levels: - Short Entry on Resistance Retest: 1.9212 - Bearish Channel Indication: As long as this channel isn't violated, it strengthens the bearish bias. I'll be looking for shorting opportunities on both the 4-hourly and 1-hourly charts based on these indications. What's your trade plan for GBPAUD? Comment down below and share your thoughts! Happy trading!
Short
by RaynLim
Bitcoin - 10% crash is coming, buy at 62k (here's why)Bitcoin is preparing for a pretty significant crash (in June). Why do I think so? We need to look at the previous price action because in May, Bitcoin pumped by 25%. If we take a look at May's price action, we can see that the uptrend created a FVGAP at 62k, and these gaps tend to be filled sooner rather than later. This is, of course, not the only reason why I am bearish.  From the Elliott Wave perspective, Bitcoin finished the first impulse wave (1) and after such move we can expect a corrective ABC pattern because markets always move in waves. In general, a typical retracement for waves (1) is 0.618 FIB and also 0.382 FIB in strong bull markets. The 0.618 FIB overlays perfectly with the mentioned FVGAP, which gives us a pretty solid buying opportunity if the price reaches this level. The next good opportunity is to short Bitcoin on the futures market.  The next reason why I am bearish is this small red trendline. As you can see, the trendline is breaking down, which is, of course, a sign of weakness. This trendline is part of the rising wedge pattern, so it adds to the overall bearishness. Currently, I am bearish, so be careful during the summer as the price action is not the most volatile for Bitcoin during this season. Let me know what you think about my analysis in the comment section, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
Short
by Xanrox
72
NZDUSD → Pre-breakdown consolidation. Next, 0.62?OANDA:NZDUSD breaks the bearish trend in early May and confirms the fact that bulls appear on the market. The fundamental background is positive and growth can be considered in the long term. Earlier the price tested a strong descending resistance by a false breakdown. There was no proper reaction in the form of a change of trend or a strong fall. Consolidation is being formed. If the price continues to pull up to the upper boundary of the triangle on D1, the pre-breakout prospect will only intensify. On H1 it is worth paying attention to the range 0.6170 - 0.6083. Anything can happen on the background of the news, so it is worth watching the reakitsa of the ruck to the mentioned borders. A false breakdown of support before further growth is possible. Resistance levels: 0.6170, 0.6217 Support levels: 0.6083, 0.6000 I expect that the trend may get its continuation. The market is extremely calm now, as there is strong news ahead that could determine the medium-term outlook Regards R. Linda!
Long
by RLinda
7
After fake breakout of support level, Euro can continue to growHello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price rebounded from the support level and made an upward movement, after which turned around and started to decline inside the downward channel. In the channel, the price declined to the 1.0805 support level, which coincided with the support area, and soon broke this level and fell to the support line of the channel. Then, the Euro rebounded up and rose to the channel's resistance line, breaking the support level again, and even soon price exited from the downward channel and continued to grow. But later, the price turned around and made a downward impulse to 1.0600 points, breaking the support level one more time, and then the Euro started to rise inside an upward wedge. In a wedge, EUR in a short time rose to the 1.0805 level, broke it, and rose to the resistance line of the wedge, after which turned around and fell to the support area. But not a long time ago EUR bounced up from the support area, making a fake breakout of the support level and now, in my opinion, the price can make retest of the support level, after the fake breakout. Then price will continue to move up to the resistance line of the wedge. For this case, I set my target at 1.0910 points. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
3
EURUSD → A false breakout leads to a correction. 1.080?FX:EURUSD is forming a correction after a false breakdown. The movement is formed after updating the local highs. The fundamental background for the currency pair is positive. The false breakout occurs against the resistance at 1.0885, as well as the rising line limiting the trend. If the fundamental background persists, in this case the correction will not last long and the global bullish movement may start to recover. On H1 it is worth paying attention to the support: 1,080 (liquidity area), which the price may test. This boundary may become the lower zone of the new range, which may confirm the change of trend. Support levels: 1.080, 1.0766, 1.0736 Resistance levels: 1.0884, 1.0942 Technically, a false breakdown of resistance and corrective downward movement is forming. Today there is no strong news and movements can be calm. Regards, R. Linda!
Short
by RLinda
4
NZDUSD → Trend Change. Consolidation before the impulse FX:NZDUSD is entering the consolidation phase after breaking the local trend resistance. On D1 the price enters a new range and on H1 a golden cross is formed. The dollar is standing still and losing positions since the opening of the session on the background of negative news. This is generally favorable for the currency pair. In this case, a retest of the support of the range forming above the bearish channel is possible with the aim of further growth. The currency pair has a potential and with the breakout of 0.604 the price may start to realize the accumulated potential and strengthen to 0.608 or 0.617. Resistance levels: 0.604 Support levels: 0.600, 0.5983 Most likely trading inside the range may continue. False breakdown of support and further strengthening to resistance is possible, but further price reaction to resistance will show us the readiness of the market to go in one direction or another. Regards R. Linda!
Long
by RLinda
7