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Harmonic Patterns

EURUSD Bottom formation in progress. Strong Buy.The EURUSD pair has been trading within a nearly 2-year Channel Down. Being below the 1D MA50 (blue trend-line) since October 02 2024, this is technically still the pattern's Bearish Leg. However, having bottomed on November 22 and transitioned into a (dotted) Channel Up, this is the technical bottom formation of the long-term Channel Down and the rise following a 1D MACD Bullish Cross from such a low level (the lowest in 2 years), confirms that. The similarities with both previous bottom formations (September - October 2023 and February - March 2023) are obvious, all of them triple bottomed before rebounding above the 0.786 Fibonacci retracement level. As a result, buying now and targeting 1.08765 (Fib 0.618) is an excellent long-term trade in terms of R/R. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
3
XAUUSD still at the bottom of the 1 year Channel Up. Strong Buy.Gold (XAUUSD) has been trading within a 1-year Channel Up since the October 02 2023 weekly bottom. When it makes a technical Higher High and then pulls back, the pattern's Bearish Legs tend to be quite prolonged but at the same time always supported by the 1D MA100 (red trend-line). The current Bearish Leg bottomed on the 1D MA100 on the week of November 11 2024 and made a technical Higher Low. Based on the previous two Higher Lows, the price may continue to consolidate until the end of the year before it breaks out again upwards but with the current level being so close to the 1D MA100, it makes it already a technical buy opportunity. All previous Bullish Legs hit at least the 2.5 Fibonacci extension from the Higher High - Higher Low and the strongest rise has been +22.50%. As a result, we can target $3100 as the Channel's next Higher High, which would be a +22.50% rise from the November bottom but still below the 2.5 Fibonacci extension. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSDLong
by TradingShot
OBEROI REALITY - New heights !!The chart is self-Explanatory as always :) Here’s a quick summary: - The Price stayed in a range for about 8 months followed by a strong breakout - The psychological level of 2,000 was breached after a short consolidation which is a positive - The chart was shared in the learning community just yesterday. Check the signature column below to join the community. - The price is up 7% today taking resistance at 2250. - The NSE:CNXREALTY index is reaching a resistance zone. So a correlation should be taken into account. - You can now access our structured charts for all Nifty 500 Companies, Check the signature section below for more info. What do you think will happen here? Disclaimer This analysis is for educational purposes only and should not be considered as financial advice or a recommendation to buy, sell, or hold any securities. Trading and investing involve risks, and you should consult a qualified financial advisor before making decisions. The author is not registered with SEBI and is not responsible for any losses based on this analysis. Use this information at your own discretion.
NSE:OBEROIRLTY
by TheChartereds
BTC SELL SETUP may not be moving as expected today due to several factors: 1. Low Volatility: Mondays, particularly the first trading day of the week, often experience low volatility as traders and investors analyze the previous week's market events and wait for significant catalysts. 2. Lack of Fundamental Triggers: If there are no major economic data releases or geopolitical events scheduled for today, the market could remain range-bound. 3. Holiday Effect: Sometimes, certain global markets might be partially closed or have reduced participation, especially if a holiday overlaps with the start of the trading week. 4. Technical Adjustments: Market participants might be waiting for key levels to be tested before committing to new positions, resulting in sideways movement.
OANDA:BTCUSD
by SadarExplore
Ethereum (ETH): Possible Zone of Rejection / Hammer Candle+60% movement on Etherum we had so far, where last week we reaced the resistance zone, forming a hammer candle right there as well. With that being said, we have 2 ways from here; now considering the candle we formed with a long wick, we might see a break of structure on smaller timeframes and a price to move to new ATHs. If we do not see a break of resistance, then we will re-test the lower zones. We are expecting to see a breakout anytime soon so eyes wide open!!! Swallow Team
Long
by SwallowAcademy
ALGOUSD Bull Flag giving a new opportunity to buy.Algorand (ALGOUSD) posted last week its first red 1W candle after an impressive rally of 5 straight green weeks since the U.S. elections. This rally technically stopped on the 1W MA200 (orange trend-line), as although it crossed it, it failed to close the 1W candle above it, which resulted in last week's rejection and red candle. The 1W RSI turned from extremely overbought (+85.00) to about turn just bullish below the 70.00 barrier. The last time we saw a similar price/ 1W RSI behavior was during the November 2020 - February 2021 rally. As you can see, both started on Bull Flag formations that initiated those impressive rallies that were supported by the 1W MA50 (blue trend-line). When the February 08 2021 1W RSI hit 85.00 and got rejected, the price started a new Bull Flag pattern that by June 21 2021 hit the 1W MA50 and after forming a multi-week Support base, it rebounded again aggressively. The whole sequence from the November 2020 rally to the November 2021 Top was a +1200 rise. We expect a similar development and as the dominant historic pattern of Algo seems to be a Channel Down, the next rally can complete a +1200% rally just below the pattern's top (Lower Highs trend-line) at $1.200. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:ALGOUSD
by TradingShot
1
Bitcoin (BTC): Daily Liquidity Grab (New ATH Formed)On a daily timeframe, we had a quick liquidity grab at the beginning of the day, where price formed a new ATH near $106.5K. We are not seeing some kind of weakness kicking in on even smaller timeframes where there is a possibility to form an MSB, which might shift the price back near $95K. So our gameplan remains the same; we keep an eye out for more confirmations, and we are not rushing into the trading. If we do not see the price to reach our entry zone for downward movement, then, as we mentioned on the weekly timeframe, we might see $140K earlier than we thought!! Swallow Team
BITSTAMP:BTCUSDShort
by SwallowAcademy
4