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Harmonic Patterns

Steady Ascent: $OM Signals Strength with New ATHsNASDAQ:OM silently making new ATHs yesterday with its chart looking absolutely primed for the next leg up. This is exactly the type of thing to look for after an impulsive move into consolodation IMO. Price poking it's head through ATHs just to give the singal that strength is still there and it's about to go. I would feel more concerned if It blasted through, rallied for a few days or so, and then sold off back into the range. Not to say that would be completely bearish, but I would assume there's for chop to be done before the breakout if it were to come. This PA however is more bullish to me. No sharp sell of in comparrison to prior PA in the consolodation area. Number of buyers steadily increasing compared to the number of sellers aka a one sided battle.
Long
by tahaxawais0
ARUSD Bullish IdeaBullish Idea Entry Zone: $23.50 - $24.00: This is a strong support area where buying interest is expected. Look for consolidation or bullish reversal signals before entering. Targets: Short-term Target: $28.00 (previous resistance level) Medium-term Target: $30.00 (psychological resistance) Long-term Target: $35.00 (major swing high from previous trends) Stop Loss: Place a stop-loss below $22.50, as a breakdown below this level could invalidate the bullish setup and signal a deeper retracement toward $19-$20. Risk-Reward: Risk: Approximately $1.50 (entry at $23.50, stop at $22.00). Reward: Potential upside of $4.50 to $11.50, giving a risk-reward ratio of 3:1 or higher depending on your target. Key Technical Reasons for Bullish Bias: Market Structure: The market is forming higher lows and maintaining a bullish structure above key support levels. Healthy RSI Reset: RSI has cooled off to neutral (47.72), allowing room for further upside without being overbought. Breakout Momentum: The breakout above $20 remains intact, with consolidation forming above this key level, signaling bullish accumulation. Volume Confirmation Likely: Consolidation phases often precede strong volume-driven moves, and a breakout above $25-$26 could bring new buyers into the market. Strategy: Watch $23-$24 Support Zone: Enter long positions if price holds or shows bullish reversal patterns. Set Conservative Stops: Below $22.50 to protect against unexpected breakdowns. Add on Confirmation: Consider adding positions if price breaks above $25-$26 with strong volume.
BINANCE:ARUSDLong
by Abdihalim1