Lingrid | CHFJPY short from KEY RESISTANCE zoneFX:CHFJPY is currently in a significant bearish trend, fluctuating just above the psychological level of 170.000. I believe that if the price fails to break through the resistance at 173.000 and the upper border of the downward channel, there is high chance the price continue to moing downwards after taking liquidity above the previous day's high. I am anticipating that the price to pull back to the support level from the resistance zone, as it has respected this resistance in the past by rebounding from it. My goal is to support level at 169.580
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Lingrid | TONUSDT continues to MOVE sideways Since the last post, not much has changed; OKX:TONUSDT continues to move sideways at the key support level. As you can observe, the market is testing the channel border, and the price has bounced off this area twice before. We saw a similar situation in May, when the market remained in a consolidation zone for a couple of weeks before making a strong surge. I believe the market may form a long-tailed bar, indicating a spike down that could serve as a fake breakout, followed by a bullish move toward resistance. My goal is resistance zone at 7.350
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AMBUSDT(AirDAO) Daily tf Range Updated till 02-08-24AMBUSDT(AirDAO) Daily timeframe range. its on Monitoring state at binance so gotta trade it carefully. now it retraced quite a space from its new low. trying to stay over 0.00926 but still need a valid close for that. local support point at 0.00714.
UsdCad- Will it finally break 1.4? (Swing trade idea)USD/CAD is currently trading around the 1.3850 resistance zone, a level that has been tested repeatedly since September 2022, each time resulting in a decline.
However, this year, after testing this resistance, the bears haven't managed to push the price down to its previous support levels. Instead, a higher support has formed at 1.36.
The recent rise from 1.36 has been impulsive, suggesting strong upward momentum.
This leads me to believe that a break above the current resistance is likely, potentially pushing the price above 1.4.
In conclusion, dips towards 1.37 should be considered buying opportunities, aiming for a favorable risk-to-reward ratio with a target around 1.41.
Alikze »»TIA | Movement in the descending channel🔍 Technical analysis: Movement in the descending channel
- It is moving in a downward channel in the daily and 4H time frames.
- It is located in the middle of the channel and within the liquidity zone. If it can be placed above the region and the middle of the channel, it can retest the ceiling of the supply range channel.
- The most important resistance for an upward trend is the $12.5 range.
- By breaking the $12.5 range, it can have an upward trend. Otherwise, the downward trend will continue.
💎 Alternative scenario: If selling pressure is encountered in the current range and the middle of the channel, the first downward target will be the bottom range of the channel and then the target of 6.25.
💎 In addition, if this channel is broken, it can touch the green box area as much as the width of the channel.
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Alikze »» ID | Multiple combined correction form💎 In the daily and weekly time, after a complete 5-wave upward cycle, it faced supply in the area of 1.84 and a corrective form took place.
💎 According to the current correctional structure, a combined multiple correction is underway, which can continue until the specified areas.
💎 Therefore, as long as it is below the price of 0.79, it can go through the specified correction process.
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It's imperative for bulls to hold 63.500
In my weekend analysis, I mentioned that BTC looked bullish across all time frames. The beginning of this week was promising for BTC, but enthusiasm faded at 70k, and the price started to decline.
Currently, the price is at 64k, just above the 63,500 support level. This support is crucial for the medium-term price evolution. If the bulls cannot maintain the price above this level, we might see a drop below 60k, potentially negating my prediction of 100k by the end of the year.
At this moment, I'm neutral on BTC. If the price breaks below the support, I will exit with a loss. Only a return to the 68-69k zone would bring some optimism back.
Gold Ends Month on a High Note with Key BreakoutsGold finished the month on a very optimistic note, reversing 1000 pips from the recent low. More importantly, the month-end brought three significant breaks for bulls:
1. A break above the 2390 confluence resistance.
2. A break above the 2400 psychological level.
3. A break above last week’s high of 2430.
With this positive momentum, further gains and a test of the 2500 level are expected soon.
Technical Outlook and Strategy:
From a technical standpoint, the recently broken resistance levels should now act as support.
In this zone, I will look for buying opportunities.
The initial target could be the last all-time high (ATH), but if the price continues rising toward that zone, I believe it will break above it.
Consequently, bulls are likely to push the price above 2500 to test new highs.
Overall, the current market sentiment and technicals suggest a strong bullish trend for Gold, making it an attractive prospect for traders looking for buying opportunities.
Lingrid | GOLD pullback and trend CONTINUATION OpportunityThe price perfectly fulfilled my last idea. The July monthly candle closed very bullish, closing above June's high but failing to close above high of May. Nonetheless, this bullish close suggests that OANDA:XAUUSD may target the 2500 level. Currently, the market appears to be pulling back following a strong bullish rally. The support zone between 2400 and 2415 looks like a potential area to consider long positions, if the price shows bullish signal. I anticipate a retest of the resistance zone from this support level, as we are observing a typical breakout-pullback-continuation scenario. However, there remains the possibility that following any news release, the price might dip lower. Overall, I'm optimistic about the potential for a bullish scenario, provided the support holds and confirms with bullish signals. My target is resistance zone at 2460.
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EURUSD → Trade Analysis | SELL SetupEURUSD is moving in a descending channel under the trend lines.
The price has fallen under the dynamic support, which now acts as resistance.
We expect the decline to continue after testing the lower boundary of the channel.
Hello Traders, here is the full analysis.
I think we can soon see more fall from this range! GOOD LUCK! Great SELL opportunity EURUSD
I still did my best and this is the most likely count for me at the moment.
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Lingrid | AUDUSD long from PSYCHOLOGICAL Support LEVEL FX:AUDUSD has moved down to the psychological support level of 0.65000 after breaking below last week's low. At this critical support level, a bullish divergence has occured, coinciding with the lower boundary of the downward channel. As the market approached this significant support level, its descent started to slow, indicating the importance of this area. I believe the market may rebound, as the price has taken liquidity below this round number, suggesting a potential pullback towards resistance. Furthermore, the long-tailed bar on the daily timeframe indicates a false breakout, reinforcing my expectation of an upward movement. My goal is to resistance zone at 0.65980
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Lingrid | ETHUSDT continues to CONSOLIDATE on the DAILYDespite the overall bullish trend observed in the daily timeframes, BINANCE:ETHUSDT continues to move sideways within the range of 2850 to 4000. On the weekly timeframe, we are witnessing a tweezer top setup, which indicates a potential pullback. I anticipate that the market to move toward the bottom of the consolidation zone, forming a two-legged pullback. Each time the price nears the psychological level of 3000, it has consistently taken liquidity below that level before moving upward. Given this setup, I expect the price to retest the round number and then bounce off. My target is the resistance zone at 3350.00
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Hellena | DJI (4H): Long to resistance area 41680 (Wave 5).Dear Colleagues, I believe that the price is still in an upward movement. At the moment, the higher order wave “4” is finishing forming. Either it has finished forming, or it will renew the minimum in the support area of 40071. After that I expect the continuation of the movement in the wave of higher order “5”. So I expect the price at the level of the maximum of the wave “3” 41680.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Lingrid | GOLD Weekly Market OUTLOOKThis past week showed significant volatility, with OANDA:XAUUSD experiencing a sharp decline before recovering by the week's end. The weekly chart shows this movement, featuring a doji candle; the candle's shadows above and below emphasize this volatility, while the small body reflects a lack of directional movement. Notably, the market closed at the level of the June high, signaling that this price level remains important for the market.
On the daily timeframe, we see that the price rebounded from the 2350-2360 range, an area where the price has historically found support. Additionally, this rebound coincided with the 61.8% Fibonacci retracement level, which further reinforces the significance of this price zone. From a weekly perspective, the market appears to be in a consolidation phase, with the week's high and low serving as critical indicators for future price movements. If the price breaks and closes above the PWH, we could anticipate a potential rise toward the 2500 level. Conversely, if the price breaks and closes below the PWL, a retest of the bottom of the consolidation zone could be expected.
Looking ahead, next week is set to be highly volatile, influenced by important economic events such as announcements from the Federal Reserve, Bank of England, and Bank of Japan. These developments are likely to have a substantial impact on market sentiment and direction.
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IRISUSDT(IRISnet) Daily tf Range Updated till 01-08-24IRISUSDT(IRISnet) Daily timeframe range. 0.01593 trying to defend itself but if it stick with low volume it wont last. it tried to break 0.02013 several times but again for low volume and more sellers it failed. PA may stable later after market stables.
Silver- Ready for 35usd A few months ago, I wrote an XAG/USD analysis, predicting that Silver could rise by 10,000 pips to reach 35.
Achieving such a significant target requires patience, and the price won't climb in a straight line. However, my long-term conviction remains unchanged: Silver will likely rise to 35 USD/oz.
But as Keynes said, "In the long run, we are all dead," so let's focus on the short term.
Recently, as shown in the posted chart, Silver broke below horizontal support.
However, after a bullish Pin Bar formation a few days ago, the price reversed strongly and is now trading back at the old support, which has become resistance.
This suggests the possibility of a false break.
At this moment, given the proximity to resistance, a correction is possible. However, this correction should be seen as a good opportunity to buy in anticipation of a false break. Depending on your patience, you could set your target at 30, 32, or my long-term target of 35.
ENPH Enphase Energy Options Ahead of EarningsIf you haven`t sold ENPH after the Double Dop:
Now analyzing the options chain and the chart patterns of ENPH Enphase Energy prior to the earnings report this week,
I would consider purchasing the 115usd strike price Calls with
an expiration date of 2024-7-26,
for a premium of approximately $3.40.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Alikze »» XAUUSD| Wave 3 or C bullish scenario🔍 Technical analysis: Wave 3 or C bullish scenario
- According to the analysis presented in the previous post , in the 1H time frame, a growth has been encountered after creating demand at the bottom of the descending channel.
- At present, according to the momentum and movement after the failure of the supply zone and pullback to the broken structure, the demand has been met again, and this growth can continue in the golden zone of the previous wave up to the specified areas.
- Therefore, the reversal structure in the form of wave C can continue until at least 0.78 of the previous wave of the 2420 range.
💎 In addition, if the green box is broken, the corrective view can continue until the origin of the upward movement.
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OANDA:XAUUSD
Lingrid | GOLD testing PREVIOUS week HIGHThe price perfectly fulfilled my last idea. It hit the target level. OANDA:XAUUSD is currently testing the previous week's high (PWH), where we witnessed a sharp move downward previously. Given the high-impact news scheduled for today, there is a possibility that the market may pull back after testing the PWH. I think that the market could retest the psychological level at 2400 before potentially moving higher. The price action created a small box, indicates that the market is anticipating the upcoming news. Therefore it's essential to exercise caution. Overall, I expect a potential pullback followed by a continuation of the current bullish trend, depending on how the market reacts to the news today. My goal is resistance zone at 2443
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Lingrid | USDJPY strong BEARISH momentumThe price perfectly fulfilled my last idea. It hit the target level. FX:USDJPY has dropped from the resistance level, creating a significant impulse leg following the recent news. Currently, the market is pulling back from the channel border and the support level at 150.00. This pullback presents a trend continuation opportunity, where we can look for a short position after the price retraces. Given that the overall market is in a bearish trend, I anticipate further downward movement after the price tests the resistance. If the market does retest the swap zone, we could see a continuation of the bearish momentum. My goal is support level at 149.200
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Lingrid | XRPUSDT breakout of the COMPRESSION channelThe price perfectly fulfilled my last idea. It hit the target level. BINANCE:XRPUSDT has made higher highs, indicating a bullish trend. Recently, the price formed a triangle pattern—typically a trend continuation pattern—and has broken and closed above it, suggesting a potential upward movement. On the weekly timeframe, the market also broke above the high of the last two weeks. I believe that further bullish momentum is likely, especially since the market has recently bounced off the support level at 0.6000. My target is resistance at 0.7000
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Gold- Ready for 2500Yesterday, XAU/USD broke back above the 2390 technical resistance and the significant 2400 level, closing the day on a strong bullish note at 2410.
This price action suggests that the correction is over and bulls are ready to conquer new highs.
At the time of writing, the price is at 2421, with technical resistance at 2430. Given the recent rise, a correction from that level could occur.
However, it is very risky to sell at this resistance considering the strong bullish momentum.
In my opinion, it is better to wait and buy on dips. An ideal level for buying is around the 2400 zone, but given the strong bullish momentum, the price might not drop that low.
In conclusion, I am looking to buy during corrections trying to time my entries as the market flows.
DCRUSDT(Decred) Daily tf Range Updated till 31-07-24DCRUSDT(Decred) Daily timeframe range. we can see some accumulation here. but its on a critical level, going below 11.81 push it into a more risky zone. it would be good if it can be defended here. depends on how money flows in the market. local resistance at 14.46.