Nah. Accumulation schema, right?Ok, probably standard accumulation, see schema.
Wyckoff accumulation schema. IMO I would be patient.
Fibonacci
TradeCityPro | NEARUSDT Analysis Attempting to Reach a New ATH👋 Welcome to the TradeCityPro channel!
Let's analyze one of my favorite coins, NEAR, and evaluate its potential short-term and long-term targets.
🌍 Bitcoin Analysis
Before starting the NEAR analysis, as usual, let's take a look at Bitcoin during the London session. Bitcoin is still ranging and even slightly trending downward. On the other hand, Bitcoin dominance (BTC.D) has a clear bearish trend, allowing altcoins to pump and move upward.
Educational Note on BTC.D: If Bitcoin breaks above $100K, BTC dominance will likely rise initially, pushing altcoins along with Bitcoin. Later, BTC dominance might retrace to levels like 59.60, enabling another altcoin rally.
📅 Weekly Time Frame
NEAR stands out as one of the coins that made a significant bullish move early on, even before the broader crypto market rallied in 2023. After breaking out of its falling wedge pattern, NEAR initiated an upward trend.
falling wedge is inherently bullish and signals a trend reversal, especially when observed on higher time frames.
NEAR never revisited its major support at $3.736 and instead bounced strongly from there.
The coin is now approaching its previous peak of $8.289.
After bouncing off the 0.382 retracement level (from $3.736), NEAR looks ready for further upside , Potential Fibonacci extension targets: $13.556 - $30.183 - $53.370
Upon breaking $8.289, we can plan an entry while adhering to risk management, with a stop-loss at $3.736 for mid- to long-term holding.
📊 Daily Time Frame
NEAR recently bounced from $3.525, initiating a strong rally that reached the resistance at $8.289. The price experienced rejection at this level, leading to a consolidation phase.
Abeautiful parabolic trendline can be observed, where NEAR continues forming higher highs and higher lows , Each touch of this trendline has resulted in a bounce so far.
Breaking this parabolic line could indicate a short-term correction but doesn’t necessarily mean a full trend reversal.
Post-breakout above $8.289, with RSI entering the overbought zone (around 78.90), is a potential buy signal , Suggested stop-loss levels: Risky: $10.50 - Safer: $7.51
Personally, I’d rather take a stop-loss than miss out on a breakout caused by whales.
⏳ 4-Hour Time Frame
NEAR has been ranging between $7.16 and $13.78 for several days, clearly defining potential triggers
📈 Long Position Trigger
break above $13.78 presents an excellent opportunity to open a long position, with even a stop-buy setup before reaching the level.
📉 Short Position Trigger
I am currently not considering short positions, focusing solely on long entries after corrections.
💡 BTC Pair Insight
NEARBTC has also shown a strong setup. After its rally in 2023 and early 2024, it has been consolidating gradually.
NEARBTC hasn’t revisited its key support this year, which is a positive sign.
The coin is now breaking a key resistance trendline, further justifying a focus on USDT-based triggers.
📝 Final Thoughts
Stay calm, trade wisely, and let's capture the market's best opportunities!
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
Volkswagen - revised analysis - even more bullishAs mentioned in the previous post the wave overlap was not ideal and potentially wrong and this means that we could in fact have a even more bullish scenario where price has made a double 1-2 setup and price could be pushed up to about 450 - 650€.
Volkswagen - soon ready for the next bullish period (?)Today I will look at Volkswagen (VOW3).
VW has had a very tough period especially with the transition to building electric cars and uncertainty especially with european legislation and market regulations. (not a complete fundamental analysis, please search for more fundamentals elsewhere!)
My Elliott wave perspective tells me that we are closing in on a potential pivot point from where the share price could easily double and this could provide us with an excellent trading opportunity for the next years.
NQ Power Range Report with FIB Ext - 12/3/2024 SessionCME_MINI:NQZ2024
- PR High: 21224.50
- PR Low: 21203.75
- NZ Spread: 46.25
Key scheduled economic event:
10:00 | JOLTs Job Openings
Teasing ATH breach
Session Open Stats (As of 12:45 AM 12/3)
- Weekend Gap: N/A
- Gap 10/30/23 +0.47% (open < 14272)
- Session Open ATR: 288.13
- Volume: 15K
- Open Int: 285K
- Trend Grade: Bull
- From BA ATH: -0.5% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 21525
- Mid: 20954
- Short: 19815
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
BA: Back Adjusted
BuZ/BeZ: Bull Zone / Bear Zone
NZ: Neutral Zone
AEVOUSDT → One step away from a 200-400% RALLYBINANCE:AEVOUSDT is forming a market bottom. Against the backdrop of bitcoin's declining dominance, altcoins have a great chance of realization. And AEVO has an opportunity for a 200-400% rally
Relative to the bottom, the coin is forming a consolidation of 0.269 - 0.534. Consolidation is big enough and if the realization starts, the impulse can be formed quite aggressive, especially on the background of excitement.
Technically, the emphasis is on 0.534 - 0.594. If the price breaks this resistance area and the bulls are able to keep the defense above this zone, the coin will open the way to 0.8, 1.12, 1.34, which is a 200-400% move.
Resistance levels: 0.534, 0.594
Support levels: 0.455, 0.269
A breakthrough of the first line of defense is being formed. The bulls have quite positive chances. Realization can start any minute. Medium-term target is 1.127, long-term target is 1.34
Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:AEVOUSDT ;)
Regards R. Linda!
Elliott Wave View S&P 500 (SPX) Wave 5 in ProgressShort Term Elliott Wave view on SP500 (SPX) suggests rally from 8.5.2024 low is in progress as a 5 waves impulse. Up from 8.5.2024 low, wave 1 ended at 5627.56 high and pullback in wave 2 ended at 5402.62 low. The Index then extends higher in wave 3 ending at 5878.46 high. The next pullback built a zigzag Elliott Wave structure to finish wave 4 at 5696.51 low like the 1 hour chart below shows. Actually, the SPX is trading higher in wave 5 developing an impulse or ending diagonal structure.
Wave 5 rally is in progress with internal subdivision as another impulse. Up from wave 4, wave ((i)) ended at 6017.31 high and wave ((ii)) retracement ended at 5853.01 low. Wave ((iii)) has started and it is trading in wave v of (iii) of ((iii)). Up from wave ((ii)), wave (i) ended at 5908.12 and wave (ii) correction ended at 5855.29. Then the SPX built a nest ending wave i at 5923.51 and wave ii at 5860.56. Wave iii of (iii) finished at 6025.42 and wave iv pullback at 5984.87 low. From here, we are expecting that wave v of (iii) completes soon and the index should see a pullback in 3 swings as wave (iv) before resuming higher in wave (v) of ((iii)). Near term, as far as pivot at 5850.8 low stays intact, expect pullback to find support in 3, 7, or 11 swing for more upside
Decline in EURUSD
Yesterday, EURUSD dropped and reached 1,0458.
All current sell positions should have their risk removed.
Monitor how the price reacts around the next key support level at 1,0432.
If a rebound occurs, we could see a new rise above 1,0600.
This movement is against the main downtrend and should be traded with lower risk.
Larger fluctuations and a potential reversal are expected on Friday during the news.
$SPY December 3, 2024AMEX:SPY December 3, 2024
15 Minutes.
No change in my view.
Oscillator divergence.
A pull back to 600 is what I am expecting by Thursday.
No Longs at the moment.
LRC.usd watch 26 cents: Golden Genesis fib break to mark Bottom?LRC is an alt that has NOT run yet but might go quite soon.
Now testing a Golden Genesis fib that will be hard to break.
Looking for a Break-and-Retest entry with SL just below fib.
GBP/JPY: Key Levels and Trading SignalsAlexGoldHunter FXOPEN:GBPJPY Technical Analysis and Strategy for GBP/JPY on a 1-Hour Timeframe
Chart Analysis
Current Price:
189.488
Key Price Levels:
Resistance Levels:
0.618 Fibonacci: 189.876
0.705 Fibonacci: 190.4359
0.786 Fibonacci: 190.681948
Support Levels:
0.382 Fibonacci: 189.543476
Recent Low: 188.335
Volume Profile:
High trading volume around the 189.5 level, indicating significant interest.
Technical Indicators:
Bollinger Bands:
The price is near the lower band, indicating potential oversold conditions.
Moving Averages:
50-period (blue line) and 200-period (red line) moving averages are plotted.
The price is below both moving averages, indicating a bearish trend.
RSI (Relative Strength Index):
Current RSI is around 48.15, indicating neutral momentum.
Stochastic Oscillator:
The Stochastic Oscillator is around 52.57, suggesting potential upward movement.
MACD (Moving Average Convergence Divergence):
The MACD histogram is slightly negative, with the MACD line below the signal line, indicating bearish momentum.
RSI Divergence:
The RSI divergence indicator shows a value of 0.051, suggesting a potential reversal.
Buy Strategy
Entry Point:
Consider entering a buy position if the price breaks above the 0.382 Fibonacci level (189.543476) with strong volume.
Confirmation can be obtained if the price closes above the 50-period moving average (currently around 190.277).
Indicators Confirmation:
Ensure the RSI is above 50, indicating bullish momentum.
The Stochastic Oscillator should be moving upwards, ideally above 80.
The MACD line should cross above the signal line, indicating a bullish crossover.
Stop Loss:
Place a stop loss below the recent swing low, around 188.335, to manage risk.
Take Profit:
Set the first take profit level at the 0.618 Fibonacci level (190.208524).
The second take profit level can be set at the 0.786 Fibonacci level (190.681948).
Sell Strategy
Entry Point:
Consider entering a sell position if the price breaks below the recent low around 188.335 with strong volume.
Confirmation can be obtained if the price closes below the 0.382 Fibonacci level (189.543476).
Indicators Confirmation:
Ensure the RSI is below 50, indicating bearish momentum.
The Stochastic Oscillator should be moving downwards, ideally below 20.
The MACD line should cross below the signal line, indicating a bearish crossover.
Stop Loss:
Place a stop loss above the recent swing high, around 190.702, to manage risk.
Take Profit:
Set the first take profit level at the recent low around 188.335.
The second take profit level can be set at the next significant support level, which could be identified using historical price action or further Fibonacci extensions.
Summary of Signals
Buy Signal:
Entry: Above 189.543476 (0.382 Fibonacci)
Take Profit (TP): 190.208524 (0.618 Fibonacci)
Stop Loss (SL): Below 188.335
Sell Signal:
Entry: Below 188.335 (recent low)
Take Profit (TP): 188.335 (recent low)
Stop Loss (SL): Above 190.702
This analysis provides a comprehensive view of the GBP/JPY chart and outlines potential buy and sell strategies with confirmations based on technical indicators and price action. If you have any further questions or need additional insights, feel free to ask! 😊
Gold (XAU/USD): Key Levels and Trading StrategyAlexGoldHunter FXOPEN:XAUUSD Technical Analysis and Strategy for Gold (XAU/USD) on a 1-Hour Timeframe
Chart Analysis
Current Price:
$2,637.755
Key Price Levels:
Resistance Levels:
$2,643.764 (0.618 Fibonacci)
$2,647.275 (0.705 Fibonacci)
Support Levels:
$2,638.048 (0.5 Fibonacci)
$2,629.926 (0.382 Fibonacci)
Volume Profile:
High trading volume around the $2,638 - $2,643 range, indicating strong interest at these levels.
Technical Indicators:
Bollinger Bands:
The price is near the middle band, indicating a neutral position.
RSI (Relative Strength Index):
Current RSI is around 46.69, indicating a neutral position.
MACD (Moving Average Convergence Divergence):
The MACD line is slightly below the signal line, suggesting a potential bearish crossover.
Stochastic Oscillator:
The Stochastic Oscillator is around the 50 level, indicating neither overbought nor oversold conditions.
Buy Strategy
Confirmation:
Wait for the price to break above the $2,643.764 resistance level with strong volume.
Indicators:
Ensure the Stochastic Oscillator is moving upwards from the oversold region (below 20).
The MACD line crosses above the signal line.
Entry Point:
Enter a buy position once the price closes above $2,643.764 with confirmation from the indicators.
Stop Loss:
Place a stop loss below the $2,629.926 support level.
Take Profit:
Set a take profit target at the next resistance level around $2,647.275 or higher.
Sell Strategy
Confirmation:
Wait for the price to break below the $2,629.926 support level with strong volume.
Indicators:
Ensure the Stochastic Oscillator is moving downwards from the overbought region (above 80).
The MACD line crosses below the signal line.
Entry Point:
Enter a sell position once the price closes below $2,629.926 with confirmation from the indicators.
Stop Loss:
Place a stop loss above the $2,643.764 resistance level.
Take Profit:
Set a take profit target at the next support level around $2,620.000 or lower.
Summary of Signals
Buy Signal:
Entry: Above $2,643.764
Take Profit (TP): $2,647.275 or higher
Stop Loss (SL): Below $2,629.926
Sell Signal:
Entry: Below $2,629.926
Take Profit (TP): $2,620.000 or lower
Stop Loss (SL): Above $2,643.764
This comprehensive analysis and strategy should help you make informed trading decisions on Gold (XAU/USD). If you have any further questions or need additional insights, feel free to ask! 😊
TON/USDT: Key Levels and Trading StrategyAlexGoldHunter BINANCE:TONUSDT Technical Analysis and Strategy for TON/USDT on Binance, 1-Hour Timeframe
Chart Analysis
Current Price:
$6.587
Key Price Levels:
Resistance Levels:
$6.620 (Key resistance level)
$6.686 (Upper resistance level)
Support Levels:
$6.476 (Lower support level)
$6.365 (Key support level)
Volume Profile:
High trading volume is concentrated around the $6.500 to $6.600 range, indicating significant interest at these levels.
Technical Indicators:
Bollinger Bands:
The price is within the Bollinger Bands, suggesting moderate volatility.
Moving Averages:
The price is near the 50-period moving average, which could act as a dynamic support or resistance.
RSI (Relative Strength Index):
The RSI is around 50.27, indicating neutral momentum.
MACD (Moving Average Convergence Divergence):
The MACD line is slightly above the signal line, suggesting a potential bullish crossover.
Stochastic Oscillator:
The Stochastic Oscillator is around 50.09, indicating neutral conditions.
Buy Strategy
Entry Point:
Consider buying if the price breaks above the $6.620 resistance level with strong volume.
Confirmation:
Ensure the RSI is above 50 and trending upwards.
Look for a bullish crossover in the MACD (MACD line crossing above the signal line).
Confirm that the Stochastic Oscillator is moving out of the oversold region (below 20) and trending upwards.
Stop Loss:
Place a stop loss below the $6.476 support level.
Take Profit:
Set a take profit target near the next resistance level at $6.686 or higher, depending on the momentum.
Sell Strategy
Entry Point:
Consider selling if the price fails to break above the $6.620 resistance level and starts to decline.
Confirmation:
Ensure the RSI is below 50 and trending downwards.
Look for a bearish crossover in the MACD (MACD line crossing below the signal line).
Confirm that the Stochastic Oscillator is moving out of the overbought region (above 80) and trending downwards.
Stop Loss:
Place a stop loss above the $6.620 resistance level.
Take Profit:
Set a take profit target near the next support level at $6.476 or lower, depending on the momentum.
Summary of Signals
Buy Signal:
Entry: Above $6.620
Take Profit (TP): $6.686 or higher
Stop Loss (SL): Below $6.476
Sell Signal:
Entry: Below $6.620 (failure to break resistance)
Take Profit (TP): $6.476 or lower
Stop Loss (SL): Above $6.620
This comprehensive analysis and strategy should help you make informed trading decisions on TON/USDT. If you have any further questions or need additional insights, feel free to ask! 😊
BTC/USD: Key Levels and Trading StrategiesAlexGoldHunter BITSTAMP:BTCUSD Technical Analysis and Strategy for Bitcoin (BTC) Against US Dollar (USD) on the BITSTAMP Exchange
Chart Analysis
Current Price:
$95,854 USD
Key Price Levels:
Resistance Levels:
$96,761 USD
$96,218 USD
$95,915 USD
Support Levels:
$95,652 USD
$95,555 USD
$94,543 USD
Volume Profile:
Significant trading activity around the $95,000 to $96,000 USD range, indicating strong support/resistance.
Technical Indicators:
Bollinger Bands:
The price is near the middle band, indicating potential consolidation.
Moving Averages:
50-day MA (purple line)
200-day MA (yellow line)
The price is currently between these moving averages, suggesting a neutral trend.
RSI (Relative Strength Index):
Current RSI: 48.05 (neutral), indicating neither overbought nor oversold conditions.
MACD (Moving Average Convergence Divergence):
The MACD line is below the signal line, indicating bearish momentum.
Stochastic RSI:
Shows a potential bullish crossover, indicating a possible upward movement.
Volume:
Recent volume spikes indicate increased trading activity, possibly due to market news or events.
Buy Strategy
Confirmation 1:
Wait for the price to break above the 50-day moving average with strong volume.
Confirmation 2:
Look for a bullish crossover in the MACD.
Confirmation 3:
Ensure the RSI is above 50, indicating bullish momentum.
Entry Point:
Enter a long position when the price closes above $96,218 USD with strong volume.
Stop Loss:
Place a stop loss below the recent swing low at $95,555 USD.
Take Profit:
Set the initial take profit at the next resistance level of $96,761 USD.
Sell Strategy
Confirmation 1:
Wait for the price to break below the 200-day moving average with strong volume.
Confirmation 2:
Look for a bearish crossover in the MACD.
Confirmation 3:
Ensure the RSI is below 50, indicating bearish momentum.
Entry Point:
Enter a short position when the price closes below $95,652 USD with strong volume.
Stop Loss:
Place a stop loss above the recent swing high at $96,218 USD.
Take Profit:
Set the initial take profit at the next support level of $94,543 USD.
Summary of Signals
Buy Signal:
Entry: Above $96,218 USD
Take Profit (TP): $96,761 USD
Stop Loss (SL): Below $95,555 USD
Sell Signal:
Entry: Below $95,652 USD
Take Profit (TP): $94,543 USD
Stop Loss (SL): Above $96,218 USD
This analysis provides a comprehensive overview of the current market conditions and a strategic approach for potential trading opportunities. If you have any further questions or need additional insights, feel free to ask! 😊
ETH/USDT: Key Levels and Trading SignalsAlexGoldHunter BINANCE:ETHUSDT Technical Analysis and Strategy for Ethereum (ETH) Against Tether (USDT) on a 1-Hour Timeframe
Chart Analysis
Current Price:
$3,631.62
Key Price Levels:
Resistance Levels:
0.786 Fibonacci: $3,654.68
0.705 Fibonacci: $3,644.13
0.618 Fibonacci: $3,633.23
Support Levels:
0.5 Fibonacci: $3,618.16
0.382 Fibonacci: $3,603.09
Volume Profile:
High trading activity around the $3,600 level indicating strong support/resistance.
Technical Indicators:
Bollinger Bands:
The price is near the middle Bollinger Band, suggesting potential consolidation.
Moving Averages:
50-period MA (blue line)
200-period MA (purple line)
RSI (Relative Strength Index):
Around 60.54, indicating a neutral to slightly overbought condition.
MACD (Moving Average Convergence Divergence):
The MACD line is above the signal line, indicating bullish momentum.
Stochastic Oscillator:
Indicates a neutral state.
Annotations:
BOS (Break of Structure): Significant price levels where the market structure has changed.
CHoCH (Change of Character): Potential reversal points.
Buy Strategy
Entry Point:
Consider buying if the price breaks above the 0.618 Fibonacci level ($3,633.23) with strong volume.
Confirmation:
Look for the RSI to be above 60 and the MACD line to be above the signal line.
Stop Loss:
Place a stop loss below the 0.5 Fibonacci level ($3,618.16).
Take Profit:
Set a take profit target near the 0.786 Fibonacci level ($3,654.68).
Sell Strategy
Entry Point:
Consider selling if the price breaks below the 0.5 Fibonacci level ($3,618.16) with strong volume.
Confirmation:
Look for the RSI to be below 40 and the MACD line to be below the signal line.
Stop Loss:
Place a stop loss above the 0.618 Fibonacci level ($3,633.23).
Take Profit:
Set a take profit target near the 0.382 Fibonacci level ($3,603.09).
Summary of Signals
Buy Signal:
Entry: Above $3,633.23 (0.618 Fibonacci)
Take Profit (TP): $3,654.68 (0.786 Fibonacci)
Stop Loss (SL): Below $3,618.16 (0.5 Fibonacci)
Sell Signal:
Entry: Below $3,618.16 (0.5 Fibonacci)
Take Profit (TP): $3,603.09 (0.382 Fibonacci)
Stop Loss (SL): Above $3,633.23 (0.618 Fibonacci)
This analysis provides a comprehensive view of the current market conditions and potential trading strategies based on technical indicators and price action. If you have any further questions or need additional analysis, feel free to ask! 😊
Pivx to regain it's strengthPivx is in an absolute oversold status right now.
All indicators at the bottom, watch the blue lines i put in.
Interim Goals are located with the 2 blue arrows according to 80% or even 125% plus on that coin.
Binance gives a 5x margin so could get wild pumps up and down.
Even give it a look at the Pivx/Btc pair, aswell oversold and a local quick gain of 11% is easily possible.
Trade safe
LMT eyes on $515-520: Major Support zone that could form Bottom Followup to my last idea that called the top (click).
LMT has been dropping hard after last Earnings Resport.
It has dropped into a major Support cluster of four fibs.
This should give us at least a dead-cat bounce or better.
$ 515.39 - 520.91 is the exact area of interest right now.
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Previous Analysis:
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BioNtech SE(Extended Hours) | Chart & Forecast SummaryKey Indicators On Trade Set Up In General
1. Push Set Up
2. Range Set up
3. Break & Retest Set Up
Notes On Session
# BioNtech SE(Extended Hours)
- Double Formation
* Neckline At 88.00 | Double Bottom Confirmation | Subdivision 1
* Support=0 | Failed Target | No Trade
- Triple Formation
* WXY Wave | Range Structure | Subdivision 2
* Retracement | 0.5 & 0.382
* Trade Execution | Alignment(Short) | Subdivision 3
Active Sessions On Relevant Range & Elemented Probabilities;
London(Upwards) - NYC(Downwards)
Conclusion | Trade Plan Execution & Risk Management On Demand;
Overall Consensus | Buy
ADA.usd watch $1.25xx: Golden Genesis sister fib of last bouncerADA has been on a rapid rise with many of the OG Coins running.
Approaching a Golden Genesis fib and sister fib of our bouncer.
Chart already feeling the heat, so this is to be watched closely.
Avalanche / U.S. Dollar | Chart & Forecast SummaryKey Indicators On Trade Set Up In General
1. Push Set Up
2. Range Set up
3. Break & Retest Set Up
Notes On Session
# Avalanche / U.S. Dollar
- Double Formation
* Neckline At 29.6000 | Short Set Up | No Trade
* A+ Set Up | Long Bias | Entry At 6.00000 | Subdivision 1
- Triple Formation
* 012345 | 3 & 4 | Wave | Subdivision 2
* Retracement | 1 & 0 | Uptrend
* Long Bias On Hold | Daily Time Frame | Subdivision 3
Active Sessions On Relevant Range & Elemented Probabilities;
London(Upwards) - NYC(Downwards)
Conclusion | Trade Plan Execution & Risk Management On Demand;
Overall Consensus | Buy
AVAX.usd heads up at $43.00: Golden Genesis fib look for a dipAVAX rising nicely with the crypto tide, but due for a pullback.
Now approaching a Golden Geneiss fib (strongest we know).
Expecting a dip or at least a few orbits before the next move.
Missed the First Move on $ALGO – Still Eyeing Big Upside!Completely missed this one, same as CRYPTOCAP:HBAR , and now I’m looking to get in. Hate missing the first move when it’s right there, especially with the monthly blocks showing the setup.
The plan is to enter closer to 33c, though I’m not sure if it’ll give that opportunity. My target is $2.30, just below ATHs.
CRYPTOCAP:ALGO still has plenty of upside.
GOLD → The bears are gaining weight. Resistance retestFX:XAUUSD is declining after a false break of the resistance of the range. The fundamental background is mixed and does not yet allow to form a clear medium and long term strategy, BUT! ...
Trump's policies create new risks. Before taking office, he has already signaled the growth of tariffs for the whole world (Canada, Mexico, Europe, China, BRICS countries). The growth of geopolitical risks also affects the price of metal. On the background of the dollar growth and expected reduction of interest rates by the Fed, gold is declining and confirms the bearish structure of the market. The markets' attention is focused on the ISM manufacturing PMI index in the US. Data from the US
Technically, the price is breaking the ascending support line as well as the 2636 zone, indicating a dominant bearish sentiment. A correction is forming and we should pay attention to the key resistance, liquidity and imbalance zones
Resistance Levels: 2636, 0.5-0.7 Fibo, 2650
Support levels: 2622, 2618, 2605
A retest of the previously broken structure and zone of interest is forming. False breakout of 0.5-0.7 fibo (retest) can provoke active selling on the background of the newly growing dollar. But, globally, gold is still in a sideways range without a clear trend direction...
Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;)
Regards R. Linda!
