Gold. Indeed it was a ascending triangle. 1/Sept/24XAUUSD indeed was forming a ascending triangle but it's a bearish type. The Target of bearish triangle breakout would be at 2465 +/- before resuming uptrend toward ATH at 2555
Parallel Channel
Parallel channel Good volume build up in daily timeframe.
Parallel channel breakout with good volume.
Smallcap⚠️⚠️.
Fundamentals are OK.
NOTE: I do my analysis, do yours before trade.
2281: Watchout for SupportPrice is moving within Ascending Parallel Channel after breakout
Last corrective movement is after double top formation
Price is at POC (Volume Profile) which is another support level
if it breaks, price may fall to channel bottom
Watchout for entry after confirmation
IRBT close to key Support LevelIRBT close to support level but needs to break out of pattern to increase chance of bullish activity
AUDNZD potential increase following the channelAUDNZD has recently pulled back to a support area following a strong bullish impulse. Despite the price breaking and closing below the previous range, a bullish divergence is beginning to appear as it approaches the support level. This price action suggests a complex pullback, hinting that the bearish momentum may be losing steam. The market might consolidate around this area before potentially bouncing off the support, as it hovers near a key psychological level. The expectation is for a move toward the resistance zone around 1.1000
Time to Short Berkshire?BRK.B just reached over MIL:1T market cap. It's also hitting a key resistance line on the chart. Although, I respect Warren Buffet very much, due to the overbought signals on the chart, I'm taking a short position at $471.27. We'll see where it goes from here.
#dxy wave c #elliottwave long 26Jul24 #bmgih #btcusd #goldThis count is based on my assumptions so anything can happen not a trading or financial advice.
T-Mobile $TMUS ShortDouble resistance Fib 1.68 + Channel top.
Along with Bearish market sentiment.
T-Mobile NASDAQ:TMUS Short
GOLD → two QML are fighting against!!hello guys.
Breakout of the Main Channel:
The price has recently broken out of a main ascending channel, suggesting the start of a new bullish phase. This breakout indicates strength and potential continuation to the upside.
Key Levels and QML (Quasimodo Levels):
Two significant Quasimodo Levels (QML and QML 2) are marked on the chart. These levels are typically reversal zones, and they have been tested, with the price showing reactions near these areas, indicating their importance as support and resistance.
Current Price Action:
The price is currently trading around the $2,517 level, within a consolidation phase just below a resistance zone near $2,530.
A small pullback is expected before making another attempt to breach the resistance zone and reach the first target.
First Target:
The first upside target is set around $2,535, which aligns with the next significant resistance area. This level serves as a potential profit-taking zone for traders going long.
Trendline Support:
The ascending trendline acts as a dynamic support. As long as the price stays above this trendline, the bullish momentum remains intact. A bounce from this trendline would confirm the strength of the uptrend.
Potential Bullish Scenario:
If the price breaks above the resistance near $2,530, it will likely hit the first target at $2,535. A successful breakout could lead to further upside, continuing the bullish trend.
Overall, the analysis points to a bullish continuation for Gold, with the key resistance level at $2,530 being the immediate hurdle. Watching how the price interacts with this resistance and the trendline will be crucial for gauging the strength of the bullish move.
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GOLD → Retests of 2531 continue. Bulls want to go to 2550FX:XAUUSD continues to strive upward to overcome 2531. The price does not react to the dollar growth and forms a pre-breakdown consolidation in the format of an ascending triangle.
US GDP data slightly cooled market expectations of a significant rate cut in September, the US dollar rebounded strongly. However, this failed to deter gold buyers, who continue to consolidate and move closer and closer to key resistance. Interest in gold is being instilled by geopolitical tensions in Eastern Europe as well as the Middle East.
Ahead is the PCE inflation data in the US. Traders are waiting for hot data, if expectations are confirmed by actual data, the market will continue sideways movement on the background of dollar correction.
Technically, the consolidation has the character of a breakdown formation with the aim of breaking through 2531 and further growth to the psychological data.
Resistance levels: 2531
Support levels: 2517, MA-50, trend
We continue to watch 2531, another retest and slow price approach to the level may break this zone, which may form an upward impulse. But, unpredictable news may break the structure and finally close the price in flat until next week.
Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;)
Regards R. Linda!
EURO - Price can leave wedge and fall to support levelHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊
Recently price rose higher than $1.1000 level but soon declined back, after which turned around and started to grow in channel.
Inside channel, price broke $1.1000 level and reached later $1.1105 level, which broke soon too.
After this, price reached resistance line of channel and then corrected $1.1105 level, exiting from rising channel.
Next Euro bounced up to $1.12015 points and started to decline inside wedge, where it in a short time fell.
Also, price broke $1.1105 level one more time and a not long time ago it EUR started to grow near support line.
So, I think that Euro can reach resistance level and then bounce down to $1.1000 level, exiting from wedge.
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GOLD → Inside the key range. Emphasis on MA-200 ↑FX:XAUUSD is once again testing the resistance of the 2531 range, but is not able to overcome it yet. At the same time the dollar is forming a flat in anticipation of important news....
“Dovish” expectations of the Fed and persistent geopolitical tensions in the Middle East will continue to support the price of gold. The Israeli army mobilized thousands of soldiers from special units in preparation for a major operation in the northern West Bank.
Despite the bullish sentiment around the gold price, the upcoming Fedspeak could have an impact on the markets.
Technically, the market is in a strong bullish trend, another range is forming and price is confirming its boundaries. Focus on trend support and SMA-200 on H1. If trend support fails to hold the price, gold may reach the lower end of the range, after which it will continue to rise.
Resistance levels: 2517, 2531
Support levels: MA-200, trend, 2501, 2493
As long as the gold is within the ascending channel, we should consider long positions against the support. But if MM decides to lower the price, we should wait for correction to liquidity zones and count on growth from 2486, 2477.
Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;)
Regards R. Linda!
EURCAD → A change in sentiment to bearish. MA-200 breakdownFX:EURCAD breaks trend support and spills to the downside as funds increase long positions on the Canadian dollar, whose rise is directly linked to the fall in DXY.
On D1, we see the currency pair returning to the range (1.5040 resistance) after a deep false breakdown. Accordingly, after the short-squeeze the market has potential - liquidity located at the bottom. Accordingly, in the nearest future the market may test 1.497, then 1.493.
BUT! On H4 there is a strong zone of 1.498 ahead. There is a high probability of a false breakdown and correction before a further fall, because below this zone there is a huge pool of liquidity, which will not let the price pass the first time.
Resistance levels: 1.506, 1.5085
Support levels: 1.498, 1.49
The 200&50 SMAs act as resistance, which indicates the current market sentiment. If the market is weak, a correction may not happen, bears may break the level quite quickly. In any case, it is worth watching the price reaction at 1.498
Rate, share your opinion and questions, let's discuss what's going on with ★ FX:EURCAD ;)
Regards R. Linda!
BITCOIN → WHALES accumulate, BULLS aim for 70K ↑ BINANCE:BTCUSD has been consolidating since March, for half a year. Sooner or later the asset will move into the distribution phase. After the shakeout, the price returns to the channel and enters the consolidation phase, holding above 0.5 fibo.
The shakeout spurred by panic over bad data in the US market a few weeks ago is redeemed. False breakout leads to a rise to 62K, which defines the local range, forming a strong resistance and the beginning of a local correction. Within the correction, the price is testing 0.5 Fibo and the bulls are actively holding the price above this area, indicating that they are not ready to let the price go beyond this area yet.
So, the focus is on the consolidation of 62K - 56K.
How long will the price trade in this range? As long as it wants, until MM gathers the necessary potential
But, after support retest, false breakdown and liquidity capture, MM has another target - liquidity above 68K - 69K, therefore, we have a high probability to catch strengthening to the channel resistance (69K - 70K)
Support levels: 0.5 Fibo (56K), 53500
Resistance levels: 59700, 62500, 70K
A break of the local resistance may give an impulse to 62350. Next, we need to watch the price reaction at 62500. If the price will not pullback, but will start consolidating and squeezing, then we should wait for the breakout and growth to 70K
Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:BTCUSD ;)
Regards R. Linda!
Ethereum: Watch This Channel!ETH has been trading inside this channel for over two years now. After the recent touch of the support, the support has solidified itself even further. Note that the support is a more clear-cut line, while the resistance is more an area.
Another touch of the bottom support would potentially be great news for the bulls, hence the signal on the chart. Seeing that we already touched it recently, we can use the wick as a clear stop level. Target placed at the top of the channel, $5000. This will create a great trade with a RR of 8.5.
Keep in mind that the support could potentially also break down. This would indicate a long-term bearish shift in trend.
EURAUD - Now We Want!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈EURAUD has been bearish trading within the falling channel.
Currently, EURAUD is approaching the lower bound of the channel.
Moreover, the zone marked in blue is a strong support.
🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the support zone and lower trendline acting as non-horizontal support.
📚 As per my trading style:
As #EURAUD approaches the blue circle, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Bitcoin Quick Bullish Channel Set-Up: Trade The Wave!In this analysis I want to take a look at the bullish channel that BTC has been trading in for around 3 weeks. The bottom support and top resistance are perfectly matchin price action, so my guess is that a lot of traders are looking at this set-up.
I anticipate that BTC will reverse from this point. Unless the stock markets break down, the chart is clearly suggesting a reversal.
To minimize potential losses we keep a tight stop. Target at the top resistance. When doing this we can create a decent trade with a good R/R ratio as seen on the chart.
FLOKIUSDT → Pre-breakout consolidation. 35% potential ↑BINANCE:FLOKIUSDT practically does not react to the manipulative fall of bitcoin. A breakthrough of the channel resistance and consolidation with the purpose of continuing growth is formed. It is worth paying attention to the zone of 16.00
The coin has been in an downtrend for a long time. But interesting preconditions are forming on H4. Floki lives separately from the market, consolidates above SMA 200 & 50 and continues to test 16.00 for a breakout. Bears are still trying to hold this zone, but their strength is running out. Volumes are rising as is the potential for a pre-breakout consolidation.
Resistance levels: 16.00, 21.00
Support levels: SMA, 14.056
Technically, the emphasis is on a resistance breakout. Consolidation may last for some more time. The structure will be broken if the price breaks the support at 14.056, but until that happens I am waiting for the realization and growth to 21.00
Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:FLOKIUSDT ;)
Regards R. Linda!
CADCHF: Bearish Move Confirmed?! 🇨🇦🇨🇭
CADCHF broke and closed below a support line of a quite an extended
horizontal trading range on a 4H.
Taking into consideration that the sentiment was strongly bearish
before the formation of the range, we may assume that selling
volumes were accumulating within.
A breakout may signify a bearish trend continuation here.
Goals - 0.623 / 0.621
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OK Gringos, at a stoplight what does Green mean to you?For the love , do not follow this idea input as advice . It's just a unique way of looking at Bitcoin.
The narrower support & resistance ranges have been algorithmically generated by another person-
🔵 the Blue line at the bottom = the best generic discount I think we are likely to see on a fluke basis (scam wicks, manipulations, etc)
There's no guarantee we EVER see the level of "blue line" discounts on Bitcoin, so set your own orders with this in mind.
Think of the rest like approaching a stoplight 🚥
What do you do when the light turns:
🟢 GREEN:
You usually hit the gas, unless something VERY bad is coming your way (person running the red light from the other direction- ambulance, etc)
🟡 YELLOW:
Depending on your risk tolerance, you either slow down or GO FASTER.
🔴 RED:
Usually you hit the brakes... unless something VERY bad is coming your way, again.
Bottom line: the light is a tool to help you, but should NEVER replace situational awareness!
And the top range:
🟣 ULTRAVIOLE(N)T
This is technically even more red than 🔴 RED .
FAFO, but know that the people who identify correctly shorts in this range will absolutely CRUSH everybody else's hopes & dreams.
And they'll do so for both fun AND massive profit.
JNJ completing correction wave C
NYSE:JNJ
JNJ is in multi decade uptrend peaked at 187 – presumably end of major wave 5 and turned into Elliott ABC correction, where major wave (A) length is about 37. Per fibo relation major wave (C) should most probably end at 139.5, while intermediate wave ‘c’ – a unit of the major wave (C) might break the pattern bringing the end of correction to 133 and beyond until possible exhaustion of the major correction at higher fibo multiples.
At the same time the stock is trading in a downward channel with a lower bound standing now at 141, as well as built-in triangle pattern identifies target as of 137.5 (not very reliable)
Week chart: EMA 50 & 200 confirming death cross – it’s late coz in JNJ case SMA 50/200 confirmed it earlier at around 160 – i.e. the stock is already about to be bottomed. RSI in week chart is not yet oversold, while in day chart RSI is heavily oversold.
I would consider weekly and daily RSI to align getting both in oversold territory and open long at somewhere 139-141 with a price target being upper boundary of the current downward channel
GOLD (XAUUSD): Consolidation Continues
Quick update for Gold.
The market is currently stuck within a wide horizontal range on a 4H time frame.
After a test of the resistance of the range, we see a strong bearish reaction to that:
the price formed a double top pattern and broke its neckline.
I think that the price may drop to the support of the range.
Goal - 2484
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Gold can start to grow from support line of upward channelHello traders, I want share with you my opinion about Gold. By observing the chart, we can see that the price some time ago started to grow inside the upward channel and soon reached the 2440 support level, which coincided with the buyer zone and broke it. Then it rose a little higher and then made a correction movement back to the 2440 support level, which moment coincided with the support line and then at once rebounded up. Gold reached a resistance level, which coincided with the seller zone, and made a fake breakout of this level, after which in a short time declined almost to support line of the channel. Next, XAU continued to grow and later reached the 2525 resistance level one more time and some time traded near. But recently Gold rebounded from this level and dropped, so, I think that the price can fall to the support line and then start to grow to the resistance line, breaking the resistance level. For this case, I set two TP, first at the 2525 resistance level, and second - at the 2555 level, near the resistance line of the channel. Please share this idea with your friends and click Boost 🚀
