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Trend Line Break

GOLD → Risk zone! One step away from a prolonged correctionFX:XAUUSD is trading in the lower half of the key range. The price failed to hold above 2493, the market is spilling back to support. But, there are nuances pointing to both a rebound and a possible fall..... The trend is still bullish. The price is entering the risk zone of 2470 - 2480. If the bulls do not keep the price above this zone, we should expect a prolonged correction. But, there are Initial Jobless Claims and NFP report ahead, which traders are waiting for so much. The economic nuances can both strengthen local movements and revive the global trend. On H1 the price is strongly declining to the support, such a fast movement is fraught with a rebound, which can bring the price back to 2493 - 2500 and this is probably the key movement. But there is a but everywhere! It is hard to tell from the volumes that the buyer is ready for any action. False breakout and consolidation above 2477 may affect the growth. Resistance levels: 2493, 2500 Support levels: 2477, 2473, 2450 But the fall is not excluded. If there is no reaction to the 2477-2473 zone in the form of a rebound, and gold starts to consolidate near the support, then we should consider a decline, the key target of which could be the 2450 zone and the trend line on D1. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSD
by RLinda
16
Gold Demand Surges in Asia as Local Currencies Weaken the gold market is expected to maintain a soft upward trend. This projection is supported by several factors, including technical indicators showing positive momentum that isn't yet in the overbought zone, suggesting that the path of least resistance is upward. In the short term, the price of gold is likely to stay around the $2,500 level, with possible resistance at $2,480 and support near $2,430. If there is a significant pullback, it could be viewed as a buying opportunity, especially if prices dip towards these support levels. However, a break below $2,400 could indicate a deeper correction​ Overall, the gold market is showing a bullish bias, with the possibility of prices continuing to rise throughout the month, influenced by ongoing geopolitical tensions and economic uncertainties​
OANDA:XAUUSDShort
by BELLATRIXFX
GBPNZD → Realization (distribution) phase. Target 2.065FX:GBPNZD is in the phase of realization of the previously accumulated potential (descending triangle), at the moment a counter-trend correction is formed, directed to the liquidity area. The fall may continue. The currency pair entered the range of 2.117 - 2.095. The lower boundary and the liquidity area have not been tested yet, so the potential target is still valid. The counter-trend correction is due to the counter-trend growth of the dollar against the main basket of currency pairs. On H4, there is a conglomerate of strong resistances ahead, which may prevent the price from the first time, accordingly, a false breakdown and further decline should be considered. Resistance levels: 2.11, 2.113, 2.12. Support levels: 2.098, 2.085 The breakdown of the structure, character and the formed confirmation of the bear market indicates that the counter-trend correction can be stopped from the liquidity pool area, so the downward movement can be continued from the mentioned resistance Rate, share your opinion and questions, let's discuss what's going on with ★ FX:GBPNZD ;) Regards R. Linda!
Short
by RLinda
4
Star Health: Trendline Breakout Signals Bullish ReversalStar Health is showing promising signs for long-term holding. The chart shows a clear downward sloping trendline that has been respected for a considerable period. Recently, the price has broken above this trendline, indicating potential trend reversal from bearish to bullish. The immediate swing high at ₹675 is a crucial level to watch. This level may act as resistance in the short term. If the price manages to break above this swing high, it could open the door for a move towards the supply zone. However, if the price faces rejection at this level, a pullback could occur. The chart suggests a potential scenario where the price could retrace after testing the swing high at ₹675. This retracement could provide a good opportunity for accumulation if the price finds support at lower levels, such as the ₹560-580 zone. There is a significant increase in volume during the breakout, which adds strength to the bullish case. Key support levels to watch include the ₹560-580 zone, where the price previously found support after the breakout There is a marked supply zone between approximately ₹770 and ₹820. where sellers have previously stepped in, leading to price declines. If the price approaches this zone again, it may face significant resistance. Consider entering a position if the price holds above ₹675 or on a pullback to the ₹560-580 zone. Accumulating during pullbacks with proper risk management could be a prudent strategy. Be cautious of potential reversals or rejections at the ₹675 swing high or within the supply zone. This is not a Buy Recommendation, just an idea. Please give a boost and comment if you like my analysis and feel free to share with others. Disclaimer: I am not a Sebi Registered Analyst, and the views expressed are of my own and for educational purpose only, Make sure you consult your financial advisor before investing, as I wont be Responsible for any losses incurred.
NSE:STARHEALTHLong
by Kaushik_Karnale
Amazon - Give me another -10%...NASDAQ:AMZN did not create a sustainable all time high yet and might head lower short term. Click image above to see detailed analysis Short term counter-trend moves are always very welcome because they allow you to enter trading opportunities within a major higher timeframe trend. After Amazon actually broke above the previous all time high but immediately closed back below, we knew that this was a false breakout. If we get a short term move lower, we might get another textbook trading opportunity. Levels to watch: $140 Keep your long term vision, Philip - BasicTrading
NASDAQ:AMZNLong
by basictradingtv
12
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!
FX:XAUUSDLong
by RLinda
5
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!
Short
by RLinda
5
Ethereum - Bearish M-Pattern, DEMAND Zone ApproachingETH is still correcting after the bearish chart pattern (M-Pattern) formed. The next major demand zone is identified two ways: ✅- Connected with the longstanding diagonal trendline, which acts as a support ✅- Bounce zone for previous major candle wick ✅- Previous resistance, then support, now about to be retested as support As a first stop, the lower white trendline can be used as a price range guage: Remember that the price will remain bearish until daily candles start to close ABOVE the red trendline, in which event it will turn green. ________________________ COINBASE:ETHUSD BINANCE:ETHUSDT
COINBASE:ETHUSDShort
by CryptoCheck-
2
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!
Long
by RLinda
3
Gold Trade Idea Gold Technical Analysis. Weekly - Bullish - Price is above the trend-line (Grey) Daily - Bullish - Price is above the trend-line (Blue) 4 hour - Bullish - Price is above the trend-line (Green) 30 minuets - Bullish - Crossed another trend-line (Yellow) I have the first trade that is still playing out. Now i have opened a new trade to the upside risking 1%, also placed another trade if the price goes down half to the amount that i'm risking with another 1%. This is not a financial advice just my way on how i'm seeing the markets.
TVC:GOLDLong
by DylanCassar
IMXUSDT→ Exit from consolidation. One step away from the bullrunBINANCE:IMXUSDT exits the local consolidation and also breaks the resistance of the global trend, which can be regarded as a positive prerequisite for growth. IMX is consolidating above the support at 1.386, formed in June. The area divides the market into 2 parts (long and short). Bulls are actively trying to keep the price above this zone, buyers' target is the area of 2.576. But before the rally MM can form a local long-squeeze, in which a false breakdown is possible (liquidity capture below the level) before further movement. It is also worth paying attention to MA-50, within the framework of the retest the market may test both sma and the previously broken wedge boundary before resuming the rally phase. Support levels: 1.386, MA-50, 1.076 Resistance levels: 1.543, 1.784 Bitcoin is pressuring the market, which is forming a local correction, if the flagship starts moving up, it will strengthen the overall tone in IMX. But, if still bulls hold 1.385-1.400, breaking 1.520 resistance will give another chance for growth. Regards R. Linda!
Long
by RLinda
4
GOLD → The bull market is testing ATH. What to prepare for?FX:XAUUSD consolidates above 2508 and flies to the key resistance - the border of the range. High probability of a false breakdown and correction before the subsequent growth. . The lively price growth is based on the sustained weakness of the U.S. dollar after the “dovish” remarks of U.S. Federal Reserve Chairman Jerome Powell at a symposium in Jackson Hole on Friday: “the Fed's easing cycle will begin in September”. The hedge asset, meanwhile, is also benefiting from escalating geopolitical tensions in the Middle East Focus on US durable goods orders data, which will be released later on Monday. Technically, strong resistance will be difficult to pass the first time around. MM may test the imbalance zone of 2520 - 2510 before returning for another retest of 2531, the target of which could be a breakout and rise to 2550. Resistance levels: 2531, 2550 Support levels: 2515, 2508 The global and local trends are bullish and the overall sentiment is clear. This tone is supported by the fundamental background from last Friday. Technically, the continuation of growth should be considered, as there are no prerequisites for a reversal or change of trend at the moment Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
8
Chart Patterns Within Patterns: A Guide to Nested Setups Daily Chart Analysis: Pattern Overview: The daily chart shows an Ascending Channel formation, which generally indicates a bullish trend but can also signal a potential reversal if the upper trendline acts as strong resistance. Within the ascending channel, there are continuation patterns such as smaller bull flags, which suggest bullish momentum continuation. Key Resistance and Liquidity Zone (LQZ): The upper trendline of the ascending channel aligns closely with the recent highs around the $2,530 - $2,540 region, creating a significant resistance area. The 1-Hour Liquidity Zone (LQZ) at $2,486.793 is marked below the current price, indicating potential areas where price might retest before any significant upward or downward move. Potential Reversal Signal: The upper boundary of the ascending channel has recently been tested multiple times, and each time, there has been a slight pullback, indicating selling pressure. This could be a precursor to a possible reversal if this level is not broken with conviction. 4-Hour Chart Analysis: Nesting Patterns: The 4-hour chart also reveals several nested patterns within the broader ascending channel, including smaller bull flags and a potential double-top pattern forming at the resistance zone. The price action is consolidating below the resistance line at $2,530.750, creating a possible Double Top scenario, which could indicate a bearish reversal if confirmed by a breakdown below the neckline support. Impulse and Correction Phases: The recent impulsive moves upwards have been followed by corrective pullbacks, which have been forming higher lows, reinforcing the bullish bias in the medium term. However, the proximity to the resistance and the potential double-top formation might signal caution for long positions. 1-Hour and 15-Minute Chart Analysis: Short-Term Structure: The 1-hour chart shows a more detailed view of the recent consolidation phase near the key resistance level. There are signs of weakening momentum as prices approach the upper trendline. The 15-minute chart further shows a tightening range and potential bear flag or a descending channel, which could indicate a short-term bearish continuation if the lower trendline of this smaller pattern breaks. Critical Levels: The support level around $2,486.793 (1HR LQZ) is critical for intraday trading. A break below this could lead to a sharper correction towards the lower boundary of the ascending channel on the daily chart. For bullish continuation, a clear break above the $2,530 - $2,540 resistance with strong volume would be needed to confirm further upside potential. Trading Strategy and Recommendations: Bullish Scenario: Look for a strong breakout above the $2,530 - $2,540 resistance on the daily chart, accompanied by increased volume and a break above the smaller continuation patterns (flags) on the lower timeframes. Enter on a reduced risk entry after a pullback to the breakout level, with stops placed below the recent consolidation range or the 1-Hour LQZ. Bearish Scenario: Watch for a confirmed Double Top breakdown on the 4-hour chart, with a clear break below the neckline support around $2,486.793. Consider short positions on the break of the neckline or after a retest of the breakdown level, with stops placed above the recent highs or the upper boundary of the descending channel on the 15-minute chart. Risk Management: Given the proximity to a key resistance level and the potential for a reversal, it is crucial to manage risk carefully. Use tight stops and consider reducing position size until a clear directional move is confirmed.
OANDA:XAUUSDEducation
by Adlercon333
2
Bullish Butterfly Pattern Checkback on EURJPYHere’s an interesting setup for all you counter-trend traders out there. A Bullish Butterfly Pattern checkback could provide a solid buying opportunity. Let’s break it down. Current Overview: - Bullish Butterfly Pattern: This pattern is setting up a potential buying opportunity for those looking to trade against the trend. Strategy: Entry: Look to enter a long position as the market completes the Bullish Butterfly Pattern. First Resistance Level: Trendline Break: The first level of resistance will be at the Red Trendline on the chart. Partial Profit: When the market touches this trendline, consider taking partial profits. Stop-Loss Adjustment: Shift your existing stop-loss to the entry price at this point, creating a risk-free trade. Final Thoughts: This setup offers a clear strategy for managing risk while capitalizing on a potential counter-trend move. Remember, trading is all about planning and managing your risk effectively. Are you considering this trade? What’s your approach to counter-trend trading? Share your thoughts and strategies below! Happy trading, everyone! 🚀
Long
by RaynLim