SasanSeifi| Moving Towards New Targets!Hey there, ✌ As seen in the KUCOIN:UNIUSDT chart, the price has shown a partial rise from the $6 area.
After breaking structure around the $8.50 level, it climbed to $10.
Currently, after a minor pullback, the price has reacted positively from the FVG zone near $8 and is trading around $9.50. The general outlook leans bullish, and it's expected that the price could see significant growth from the $9 range to targets of $12–$14 in the mid-term.
The important support is between $8 and $7.50.
💢 Please remember that this is just my personal viewpoint and should not be taken as investment advice. I’d love to hear your thoughts and share opinions!
Happy trading!✌😎
Sure, if you have any more questions or need further clarification, feel free to ask. I'm here to help!✌
Tradingview
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! ❤️
Cosmos (ATOM)📊 Comprehensive Analysis of ATOM
🔍 Overview: ATOM, after experiencing a significant decline, entered a downward channel with a slight slope toward its weekly support level. With notable trading volume entering, it managed to rise strongly above the weekly support zone and the bottom of the descending channel. Currently, it is moving toward the top of the descending channel, where a critical weekly resistance (red zone) lies, with the possibility of a correction at this level.
🕰 Technical Analysis:
🔸 Current Status:
The price is approaching the top of the descending channel and the weekly resistance (red zone).
For buyers who entered at the channel's bottom, partial profit-taking in the red zone is a reasonable strategy.
🔸 Key Levels for Entry and Price Targets:
Entry: Confirmation of price stabilization above the weekly resistance (red zone) is essential for re-entry.
Targets: Breaking this resistance could push the price toward the yellow and green zones.
🔸 RSI Status:
If the weekly RSI enters the Overbought zone, the likelihood of breaking the weekly resistance increases.
This breakout may lead to a sharp price movement upwards, with the potential to reach Over-Extended levels.
🎯 Price Levels:
Short-Term Target: Weekly resistance (red zone).
Mid-Term Target: Yellow zone after breaking the resistance.
Long-Term Target: Green zone and Over-Extended levels.
💡 Summary:
Bullish Scenario: Breaking and stabilizing above the weekly resistance could lead to sharp upward movement toward higher targets.
Bearish Scenario: If the resistance is not broken, a price correction toward lower supports (such as the middle line of the channel) is possible.
📌 Recommendation:
Prioritize risk and capital management.
Confirmation of resistance breakout with high volume and appropriate RSI conditions is crucial.
Voltas Ltd Technical Analysis1.Chart Pattern:
The stock has been consolidating in a descending channel, with a recent breakout above the upper trendline of the channel.
This breakout could indicate a bullish reversal if sustained.
2.Key Levels:
Support Zone: ₹1,670 - ₹1,700 (highlighted area).
Immediate Resistance: ₹1,732 (horizontal dashed black line).
Target 1: ₹1,762 (short-term resistance).
Target 2: ₹1,838 (medium-term resistance).
Target 3: ₹1,926 (long-term resistance).
3.Indicators:
RSI (14): Currently at 48.58, indicating neutral momentum. A move above 50 could strengthen bullish sentiment.
EMA Levels:
20 EMA: ₹1,697 (stock near this level).
50 EMA: ₹1,720.
100 EMA: ₹1,670 (acting as strong support).
200 EMA: ₹1,517 (long-term trend support).
4.Volume Analysis:
A significant spike in volume was observed during the breakout, supporting the bullish case.
5.Price Action:
The breakout candle indicates buying interest. If the stock holds above ₹1,732, it could move toward ₹1,762 and higher levels.
6.Risk-Reward:
Entry Zone: ₹1,700 - ₹1,732 (post-pullback to breakout zone).
Stop Loss: Below ₹1,670 (key support).
Target Range: ₹1,762 – ₹1,926.
Trading Plan
Bullish Scenario: A breakout above ₹1,732 and sustained momentum could lead to ₹1,762 and ₹1,838.
Bearish Risk: If the stock falls back into the channel and breaks below ₹1,670, the downtrend may resume.
Conclusion
Voltas Ltd. is at a critical juncture, showing potential for a bullish breakout. However, confirmation above ₹1,732 is crucial for the upward move. Traders should watch volume and price action for further clarity.
TradeCityPro | SEI : Bullish Momentum with Key Resistance👋 Welcome to TradeCityPro!
In this analysis, we’ll evaluate the performance of SEI, a blockchain designed for decentralized futures trading. For a deeper understanding of the project, you can review its whitepaper.
⏳ Daily Timeframe: High Buying Volume and Uptrend
The daily chart shows a bullish trend supported by a trendline that has been tested three times. Currently, the price is well above this trendline. As long as the price remains above it, the overall trend will stay bullish.
📈 A breakout above $0.6944 could push the price to the next target of $0.9733. Beyond this resistance, SEI may aim for new All-Time Highs (ATH).
🔑 RSI entering the Overbought Zone (above 70) could trigger a sharp upward move.
🔽 In a bearish scenario, the price could correct to $0.5284 initially. A deeper correction might bring it down to the trendline and the $0.4006 support level.
📊 Currently, buying volume exceeds selling pressure, indicating that a correction is unlikely unless significant selling pressure enters the market.
⏳ 4-Hour Timeframe: Futures Triggers
In this timeframe, we’ll focus on identifying potential futures trading triggers:
🔼 For long positions, a breakout above the $0.6944 resistance, especially with increasing buying volume, would be ideal. If RSI also breaks the 50 level, the likelihood of overcoming this resistance increases.
📉 For short positions, a break below the $0.596 level could act as a trigger. However, personally, I avoid shorting as long as the price remains above the daily trendline.
📝 Final Thoughts
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! ❤️
Banknifty | 3rd Dec'20243m: Price at strong resistance; wait for bearish confirmation after a nearby buy-side liquidity sweep to short.
15m: If 3m shows no bearish confirmation, watch for a buy-side liquidity sweep on 15m, then await bearish confirmation to short.
*Remember overall 15m trend is bearish!
TradeCityPro | APTUSDT Bullish Correction & Continuation👋 Welcome to the TradeCityPro channel!
Let's start the week by analyzing APTUSDT, one of the altcoins with a promising setup.
📊 Bitcoin Overview
At the New York market open, Bitcoin has printed a few green candles , Meanwhile, BTC dominance (BTC.D) has been declining, breathing new life into altcoins.
As long as BTC.D continues to drop, altcoins will likely remain active and bullish.
🕒 Weekly Timeframe
APTUSDT has been trading in a long-term range box for nearly 700 days, fluctuating within it since its listing.
Unlike many other altcoins, APTUSDT has never dropped to its final support at $3.45, instead finding consistent support at $5.50–$5.77, giving it an edge over its peers.
Currently, there's no weekly trigger for buying , bounce of the RSI from 70 could signal the continuation of its upward momentum.
🚀 Daily Timeframe
APTUSDT has rallied beautifully from $5.67 support, reaching resistance at $13.66, where it was rejected. After consolidating for a few days, it is now moving back toward that resistance.
The chart shows a parabolic uptrend, with higher highs and higher lows forming consistently , Each time the price touches this parabolic trendline, it bounces upward, suggesting this structure might persist.
break of the parabola would likely signal a short-term correction, not necessarily a bearish market reversal.
For a buy, wait for a breakout above $13.66 with increased volume and RSI entering overbought territory. & Suggested stop-loss Risky: $10.50 - Safer: $7.51
If the market corrects, look for a bounce at $10.50 support with a confirming bullish candle for a mid-term hold.
⏳ 4H Timeframe
APTUSDT has been ranging between $11.22 and $13.78 for a few days, making the triggers clear for trading.
📈 Long Position Trigger
breakout above $13.78 would provide a strong trigger for a long position. You can even set a stop-buy order before the breakout.
📉 Short Position Trigger
Avoid shorting as the overall market setup remains bullish. Instead, focus on other opportunities like DeFi or researching promising projects :))
💡 BTC Pair Insight
Against Bitcoin, APTUSDT shares a similar setup to other altcoins, consolidating in its range.
breakout above 0.0001624 BTC could signal fresh inflows into APTUSDT and spark a bullish movement.
📝 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! ❤️
TradeCityPro | BNB : Approaching Key Resistance Levels👋 Welcome to TradeCityPro!
In this analysis, we will examine the price action of BNB, the native token of Binance, the largest cryptocurrency exchange in the world.
⏳ Weekly Timeframe: Testing All-Time High Resistance
On the weekly chart, BNB has been consolidating in a range between $492 and $660 after a strong bullish leg from the $210 support level to its ATH. Currently, the price is near the top of this range, and the increased trading volume at this level suggests a high likelihood of breaking through the $660 resistance.
✨ A breakout above the 62.26 level on the RSI would make this resistance easier to overcome. If the price successfully breaks above $660, the next targets based on Fibonacci extensions are $1043 and $1644. These levels are highly plausible if the RSI enters the Overbought Zone.
🔽 In case of a pullback, the first support level is the bottom of the box at $492, followed by deeper support at $348. As long as the price remains above $348, the overall trend remains bullish. A break below the 50 RSI level, however, could indicate a loss of bullish momentum.
📅 Daily Timeframe: Parabolic Uptrend
On the daily chart, the price is in a parabolic uptrend, originating from the $469.65 support level. The price has tested this trendline four times and is currently facing resistance at $660.72. Beneath the price, strong support exists at $606.70, where the market has been consolidating for several days.
🔼 If $660 is broken, the first resistance to watch is at $711, which will serve as the initial target for the upward movement.
📉 In the bearish scenario, if the parabolic trendline and the $606.70 support are broken, the first support level to monitor is $538, followed by deeper support at $469, the bottom of the weekly range. Currently, bullish volume exceeds bearish volume, suggesting a higher probability of breaking through $660 unless significant selling pressure enters the market.
📝 Final Thoughts
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! ❤️
Nobody appreciates it !!!The toncoin has broken the wedge, which is a bearish sign in the short term. The price can correct down to the 0.618 Fibonacci level and then potentially shoot back up.
Give me some energy !!
✨We spend hours finding potential opportunities and writing useful ideas, we would be happy if you support us.
Best regards CobraVanguard.💚
_ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟!
⚠️Things can change...
The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Banknifty Forecast for 2nd Dec'2024The trend is bearish and may follow one of these scenarios:
1. Likely to grab all buy-side liquidity before continuing bearish.
2. Likely to grab available retail liquidity before continuing bearish.
3. Likely to drop aggressively bearish, then reverse bullish to grab buy-side liquidity.
TradeCityPro | ALTUSDT Analysis Good Spot Buying Opportunity?👋 Welcome to the TradeCityPro channel!
Let’s dive into analyzing one of the newer altcoins in the market, ALTUSDT, which might offer a solid spot entry opportunity tonight.
🌱 Bitcoin Overview
As always, we begin by checking Bitcoin's performance , Bitcoin hasn't moved much compared to yesterday.
However, Bitcoin dominance is declining, which has allowed altcoins to gain momentum , If Bitcoin remains range-bound and its dominance continues dropping, altcoins might sustain their upward trend.
🕒 Weekly Timeframe
ALTUSDT has recently been listed and has dropped approximately 88% since listing, following the typical behavior of newly listed coins.
After this decline, it has been consolidating within a range box for about 120 days.
Now, the coin is testing the resistance at $0.16293, and it appears to be breaking out.
Risky Stop-Loss: Place it just below the shadow of the current candle, considering the buyers' strength.
Secure Stop-Loss: Place it at the bottom of the range near $0.0732 and hold for targets.
🔑 Daily Timeframe
trigger at $0.13342 allowed for a buy earlier. If you missed that entry, you can buy after a breakout of $0.16293, using a stop-loss at $0.10133.
RSI Entry Trigger The key RSI level to watch for entry is 82.57, signaling strong upward momentum.
No need to analyze lower timeframes extensively because the limited data on this coin makes trading it challenging , For futures trades, there are already sufficient setups in the channel.
💡 BTC Pair Insight
Relative to Bitcoin, ALTUSDT has been in a downtrend, forming a range due to significant trend weakness , breakout from this range could initiate an uptrend relative to Bitcoin.
If I purchase the coin and its BTC pair shows bullish movement, I’ll continue holding.
📝 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! ❤️
(Update) EGLD In Coming Days!The price can continue its upward movement in this bullish channel and rise to $50.
Give me some energy !!
✨We spend hours finding potential opportunities and writing useful ideas, we would be happy if you support us.
Best regards CobraVanguard.💚
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✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟!
⚠️Things can change...
The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
EGLD - Time to buy again!EGLD is showing bullish momentum after successfully breaking through its descending resistance. The price tested the demand , a critical area to watch. If the price manages to rally from here and breaks above the $37 resistance level, we could see a significant shift in market structure, leading to a strong upward movement toward major resistance targets.
Give me some energy !!
✨We spend hours finding potential opportunities and writing useful ideas, we would be happy if you support us.
Best regards CobraVanguard.💚
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✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟!
⚠️Things can change...
The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
DOMINANCE - real bullish for ALTS didn't start yet!monthly chart displays a breakdown for multi years rising wedge .. the interesting thing that today is a monthly close and we are only a few hours away from this.
rising wedge lower side matches with 0.618 fib (golden level) ...In fact, these two levels represent strong support that was responsible for the loss of thousands of traders and their suffering throughout this period.
it's a real sign to be bullish in december...
Caution still required ... retest the lower side of rising wedge is expected ..so don't use a high leverage
if u spot ..so don't worry it's time to get money ,,, don't sell ur coins too early u will regret missing opportunities Very much
BEST Regards Ceciliones🎯
TradeCityPro | ARBUSDT Analysis Leading in TVL Among Layer 2👋 Welcome to the TradeCityPro channel!
Let’s analyze one of the favorite coins in the crypto world, especially popular among airdrop hunters, ARBUSDT, which has shown strong movement recently. We’ll review future triggers together.
🟢 Bitcoin Overview
As always, before starting the analysis, we take a look at Bitcoin:
It hasn’t moved significantly compared to yesterday and remains range-bound.
However, its dominance has been decreasing, providing an excellent opportunity for altcoins and Ethereum to perform , If Bitcoin’s decline continues, altcoins will likely remain green.
🕒 Weekly Timeframe
ARBUSDT has rebounded from its most critical weekly support and made an upward move, reaching a key resistance at $0.9578.
The RSI has also entered its overbought zone, which isn’t an ideal buy signal and suggests a correction might be necessary.
If you’ve joined after the breakout of the $0.6496 resistance, you can consider pulling out your initial capital, leaving the coin essentially free for you.
If you haven’t entered yet, I’ll explain in the lower timeframes.
🛠️ Daily Timeframe
Previously, ARBUSDT followed a downtrend and reached the $0.4749 support zone with strong trend weakness.
This formed an accumulation zone, and after creating a higher low within it, the coin broke above the range and rose towards the $0.9689 resistance.
Wait for a breakout above $0.9689, accompanied by RSI entering the overbought zone again.
pullback could bring ARBUSDT to $0.8028 in the mid-term. At that point, look for a bullish confirmation candle for a potential buy.
⏱ 4-Hour Timeframe
This is the primary timeframe for futures trading. The price shows a compression pattern, forming higher lows and equal highs, indicating a possible breakout.
📈 Long Position Trigger
position can be taken after breaking $0.9689 , Set a stop-buy order beforehand since whale-driven movements might occur, pushing RSI beyond 75.14.
📉 Short Position Trigger
I do not recommend opening a short position. Even if the trendline breaks, I’d prefer waiting.
As long as the price stays above $0.7980, focus on long opportunities.
🔗 TradingView Chart
💡 BTC Pair Insight
ARBUSDT compared to Bitcoin has been bearish in the long term , However, after the Layer-2 hype cooled, the token showed strong trend weakness, printing several green candles.
The main trigger here is the breakout of 0.00001004, allowing for significant upward movement if the market turns bullish.
📝 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! ❤️
TradeCityPro | MANA : Aiming for the Top of the Box👋 Welcome to TradeCity Pro!
In this analysis, I’ll review MANA, the native token of the Decentraland project, one of the most well-known Metaverse initiatives. This coin has seen significant growth in recent weeks.
⏳ Weekly Timeframe: Approaching the Box Ceiling
On the weekly timeframe, we observe a long-term range lasting 826 days. The bottom of this range is at 0.2501, while the top lies at 0.8170. Over the past few weeks, the price has moved from the bottom of the box, breaking above 0.4165, and has now approached the ceiling at 0.8170.
✨ If RSI breaks above the 74.42 resistance level and the price stabilizes above 0.8170, additional bullish momentum could enter the market. In this case, the first target would be 1.1101, followed by 2.1776. Should the price consolidate above these levels without showing signs of weakness, the all-time high (ATH) of 5.0563 may also be achievable.
⏳ Daily Timeframe: Momentum Exhaustion?
On the daily timeframe, we see a parabolic move originating from the bottom of the range and now testing its ceiling.
📈 Currently, after testing the 0.7859 resistance, the price has pulled back to 0.5631. Interestingly, there’s no visible divergence in the RSI, indicating a healthy trend. If RSI re-enters the Overbought zone, the next leg up could commence.
🔽 In a potential correction scenario marked by reduced volume, the price might enter a time correction phase, ranging within the current area. For price correction, the key level to watch is 0.3926.
🚀 Breaking through 0.7859 could initiate a long-term bullish trend toward the ATH.
⏳ 4-Hour Timeframe: Futures Triggers
On the 4-hour chart, more granular details of the previous move are visible. The price has currently retraced to 0.382, aligning with the 0.5631 level. If the correction continues, the 0.5 and 0.618 levels could serve as suitable targets.
🔼 For a long position, breaking above 0.7316 and consolidating above this level would be ideal, potentially initiating a new bullish leg. If RSI enters the Overbought zone, significant momentum could drive the market. Breaking above the 50 level on RSI would also signal the end of bearish momentum and a possible trend reversal.
❌ As for a short position, I prefer not to open one unless a trend reversal is confirmed. Currently, there’s no trigger for shorting, and I recommend avoiding counter-trend trades.
📝 Final Thoughts
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! ❤️
TONUSDT: Why TONCOIN Remains Bullish and Its Next Potential MoveTONNCOIN is forming a falling wedge on Daily timeframe , Up we go if we do breakout. the price can be bullish and I expect the price to go up to the Fibonacci line of 0.618 = $6 Stay tuned for more updates, thanks.
✨We spend hours finding potential opportunities and writing useful ideas, we would be happy if you support us.
Best regards CobraVanguard .💚
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✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟!
⚠️Things can change...
The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
ADAUSDT is about to increase further more !!As you can see, the price has been able to pass the cup and handle resistance, but this does not mean that the resistance is broken. We need to wait until this weekly candle closes for the breakout to be confirmed. If we measure the AB range, which is 48 cents, and if the breakout is confirmed, we can say that the price will easily grow 48 cents equal to CD.
PREVIOUS ANALYSIS
Give me some energy !!
✨We spend hours finding potential opportunities and writing useful ideas, we would be happy if you support us.
Best regards CobraVanguard.💚
_ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟!
⚠️Things can change...
The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
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TradeCityPro | EURNZD Ideal Short Setup for Next Week👋 Welcome to the TradeCityPro channel!
Let’s analyze EURNZD as the forex market wraps up this week and prepare our triggers for next week’s positions!
🌍 Fundamental Overview
Euro (EUR):
Benefiting from the ECB's cautious tightening policies aimed at inflation control.
Mixed economic data, such as weak industrial output, limits bullish momentum.
New Zealand Dollar (NZD):
Supported by stronger commodity prices and a resilient domestic economy.
The RBNZ maintains a balanced policy outlook, strengthening the NZD further.
The contrast between the ECB's inflation focus and the NZD's solid fundamentals tilts the bias toward NZD. Global risk sentiment and commodity trends are pivotal in determining price direction.
🕒 4-Hour Timeframe Analysis
EURNZD is consolidating within a range between 1.7836 (support) and 1.8063 (resistance).
Last week saw minimal movement, but this consolidation suggests the pair is gearing up for a breakout.
The price didn’t reach the resistance this time and got rejected earlier.
It is now testing the support level.
📉 Short Position Trigger
If 1.7836 is broken with strong momentum, it would trigger a short position, targeting lower levels.
📈 Long Position Trigger
If the 1.7836 support holds for an extended time, buyers could step in.
A break above 1.8063 would confirm a long opportunity, especially if the price forms higher highs and higher lows in lower timeframes.
📝 Final Thoughts
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! ❤️
TradeCityPro | USDCAD : Divergence Signals and Key Levels👋Welcome to TradeCityPro!
In this analysis, I will examine the USDCAD pair from the forex market. The analysis is conducted on the daily timeframe.
⏳ Daily Timeframe: Resistance and Potential Reversal
In the daily timeframe, we observe a range (box) between 1.32179 (support) and 1.38632 (resistance) that was recently broken. Currently, the price has reached the 1.40777 resistance level.
✨ A noticeable divergence is present in the RSI oscillator, with a trigger for this divergence being the break below the 55.94 level on the RSI. If this trigger is activated, the price could enter a correction phase.
📈 At the moment, after breaking out of the 1.38632 level and retesting it as support, the price is consolidating below the 1.40777 resistance. If this resistance is broken, the next target will be 1.43824.
🔽 However, if the RSI divergence is activated, a deeper correction may occur. In that case, the price could re-enter the range, with the first support at 1.36023 and the second support at the range's bottom, 1.32179.
💼 Considering the weakening momentum seen in the candles and the divergence signals, the likelihood of a correction is increasing. However, I personally prefer to wait for confirmation from the price to better identify future trends.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
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