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Trend Line Break

GOLD → Retest triangle resistance. Next, 2500 or 2400?FX:XAUUSD is strengthening after retesting support at 2440 and false breakdown, heading towards ATH. Buyers are keeping the market from falling, forcing the price to bounce off the local range support. It is worth emphasizing the strong bullish trend and continued retests of triangle resistance, which only increases the chance of a breakout and upside. The gold price has been strengthening since the evening session, despite strong US data (for Thursday) being the latest boost to dollar buying, especially after an inflation report earlier this week that cast doubt on the possibility of an aggressive Fed interest rate cut in September. Special emphasis on looming geopolitical tensions in the Middle East, which continues to support sentiment around the hedge asset Resistance levels: 2464, 2477 Support levels: 2458, 2450, 2440 Emphasis on both the boundaries of the above range and internal levels. If the bulls hold 2458, their further target will be the resistance 2464, the breakdown of which will lead gold to ATH. And in this case the market will start testing 2477 for a breakthrough and growth. If the bulls show weakness, the market may make another attempt to retest the support before further growth. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
17
Don't listen to the doubters on Bitcoin! Daily trend-lines below I don't use trend-lines a great deal, because they are objective and what I mean is that traders have different ideas on where to place them. So I constructed several trend lines on the Daily-chart for BTC USD above 3 lines & below 2 lines. Well guess what? Current price is sitting on the 200 EMA (which looks to be sloping up soon, note that 200 EMA is dead-set horizontal at current price. But there's more guys....... About a week or so on the Daily chart there was a bullish cross up on the MACD. Weekly & Daily RSI levels are sloping upwards and the Stochastics which I mostly follow are doing the same thing. You see, I am a contrarian trader & I think to myself why would traders bid-up the Gold Price a shit-load more this coming week when my Stochastics on the weekly and daily shows its very overbought. Sure, it might run up a bit more at the start of the week. After all it is in breakout territory. I think precious metals investors & banks, market makers will turn their focus to bidding up bitcoin this coming week. Do I know, 100% that it will be Bitcoins turn, of course not. But I will be watching the BTCUSD chart with interest. Also see my other Bitcoin weekly chart which shows the 2024 M-TOP sell-off. The M-TOP bearish pattern played out to an exact 18.8% approx to the downside from the top of system. So, why the hell would price be taken down again. I don't see a bearish H&S or another M_TOP forming. Trade smart guys. Don't be fooled by the so-called experts with their complicated trading styles & busy chart. (I keep it simple & trade the patterns mostly & I watch out for divergences & overbought and oversold areas). I made so much money on gold and silver the last several weeks & mostly this past week, that my broker in a very veiled way (Fusion Markets) showed me the door, here in Australia. I am now with Eightcap. Cheers, Chris. Cheers, Chris
EIGHTCAP:BTCUSDLong
by Easy_Explosive_Trading
1
GOLD → Attempting to recover inside a new range FX:XAUUSD declines after the CPI report to the local liquidity zone of 2440, forming a new trading range. But, buyers come back and try to hold the psychological zone of 2450 again. The bullish trend persists, gold is trading within the “Symmetrical Triangle” consolidation pattern Traders await US retail sales data for fresh signals on Fed policy. Although the annual inflation rate in the US slowed down for the fourth consecutive month to 2.9%, but these CPI figures have raised fears that the US Fed will decide to cut interest rate heavily next month. A weak US retail sales report could revive recession fears.... Technically, we should focus on the local levels inside the range of 2440 - 2477. Resistance levels: 2458, 2467, 2477 Support levels: 2440, 2431, 2320 Technically buyers are trying to keep the price from falling, but all the emphasis is on the news, favorable fundamental data can provide strong support for gold, which can use the energy for another retest of 2477, but an unpredictable report can intensify the sell-off and bring the price to 2425. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
16
NOTCoin → Pullback after a false breakdown. When is it going up?BINANCE:NOTUSDT on the background of the rally ( together with TON ) strengthens and updates the maximum 0.0129, thus forming a retest of the wedge resistance. The attempt is unsuccessful, the reaction is a pullback to the liquidity zone. Fundamentally interesting project in the medium and long term can still show good growth, but for this developers need to try. The prospects of Notcoin will depend on the innovations developed by the project, its marketing strategy and the state of the overall cryptocurrency market. Technically, a false breakdown of the wedge resistance is forming amid bitcoin's decline. The price may test the liquidity area of 0.0105 and then a retest of the resistance may follow. I do not exclude the fact that the support may be broken without any corresponding reaction, in this case we will wait for a retest of trend support. Resistance levels: 0.1294 Support levels: 0.01053, 0.00912 Accordingly, any breakout and consolidation of the price above the wedge resistance will be a strong signal for further rally. As long as the price has not left the range, it is worth considering trading inside this pattern. Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:NOTUSDT ;) Regards R. Linda!
Long
by RLinda
10
BITCOIN → Why didn't we go above 70K? The reason for the drop...BINANCE:BTCUSD has been in consolidation for 5 months. The price makes another retest of the 70K resistance, but due to several reasons failed to pass this area. A correction inside the FLAG is forming From 70K resistance another correction to 64K has started. The reason for this is strong bullish sentiment after the US allowed bitcoin as a reserve asset. There is also a lot of attention to BTC because of the presidential race. Accordingly, the Market Maker eliminates the positive crowd (the price always goes against the crowd). And whales start buying the asset at cheaper prices. On Friday, the NFP report and unemployment (up 4.0% to 4.3%) influenced the price drop. Rising unemployment + rising inflation had a negative impact on the markets. It is too early to buy, we should wait for the slowdown of the movement and stronger data. Resistance levels: MA-50, 63250, 68570 Support levels: MA-200, 59300, 56500 Technically, the price is testing MA-200 and is squeezed above MA-50. If MA-200 fails to hold the price, bitcoin may go down to the lower boundary of the FLAG before a buyer can take over the situation. BUT, if the bulls hold MA-200 as support and manage to consolidate above 63300, a rise may be waiting. Overall, the fundamental background is very positive, but local economic data has a negative impact on the markets. Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:BTCUSD ;) Regards R. Linda!
BITSTAMP:BTCUSDLong
by RLinda
134
EURUSD → Attempting to change the global trend.... FX:EURUSD after the retest of the trend resistance is forming a correction, which is correlated with the growth of the dollar index. By the nature of the movement, the currency pair is in the bull market phase.... False breakdown of the symmetrical triangle resistance. The fundamental background for the currency pair is relatively positive. The dollar will continue its decline in the future, which is favorable for the euro. In this case, after the end of the correction, it is possible to retest the resistance with the aim of breaking through and further change of the global trend from neutral to bullish. Technically, the focus is on 1.0916 and 1.095. Breakout and price consolidation above this zone will be the beginning of further bullrun. Support levels: 0.5 fibo, 1.087, 0.7 fibo, 0.79 fibo. Resistance levels: 1.0916, 1. 095 Both technically and fundamentally, we have positive preconditions for the growth continuation. The correction may take a little longer, but it is worth paying attention to the key zones indicated on the chart. Rate, share your opinion and questions, let's discuss what's going on with ★ EURUSD ;) Regards R. Linda!
Long
by RLinda
3
BTC at Risk - Death Cross Signals Potential Drop!Welcome to another analysis, where I dive into the latest developments with BTC and explore the potential paths ahead. I'm becoming increasingly bearish on BTC following the confirmation of a "Death Cross," where the 20- and 50-day moving averages have crossed below the 200-day moving average. This pattern is often seen as a strong indicator of a bearish reversal and the start of a new downward trend. Historically, when we experienced a "Death Cross" in January 2022, BTC dropped from $50,000 to $15,000 per coin. While there have been instances where BTC recovered after a Death Cross, given the current pattern of lower highs and lower lows, coupled with the ongoing uncertainty and volatility in the stock market, I believe the bearish scenario is the most likely outcome. Although I'm long-term bullish on BTC, it might be time for the cryptocurrency to take a breather, potentially allowing altcoins to take the spotlight! Be sure to follow for more updates like this! I also post daily on X: @PuppyNakamoto. Thanks for reading, and good luck with your trading! BITFINEX:BTCUSD KRAKEN:BTCUSD BINANCE:BTCUSD COINBASE:BTCUSD BITSTAMP:BTCUSD BINANCE:BTCUSDT
BITSTAMP:BTCUSDShort
by WOLFofBlockStreet
9
GOLD → ATH retest before CPI. What should we expect?FX:XAUUSD is defending the psychological level and support zone at 2450 and testing key resistance at 2477 for a breakout, ahead of 2483. All eyes are on key US CPI inflation data Traders are still expecting a softer CPI report after a larger than expected decline in PPI data released yesterday. A softer CPI figure may confirm forecasts of an aggressive Fed rate cut, which will intensify the USD sell-off. This situation may trigger a northward movement in gold (strengthening the price) In addition, the price of gold continues to find support in the geopolitical tensions in the Middle East, the situation is still heated to the limit. Technically, the price continues to head towards 2477-2483. Retests of resistance for a breakout of the level continue. Resistance levels: 2477, 2483, 2500 Support levels: 2458, 2450 On high news volatility, the price may form a quick breakout and rally or long-squeeze before rising further. BUT, unpredictable news may break the market structure, in which case the price may head beyond 2450. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
18
GOLD → Pullback from 2477. What's next? News ahead... FX:XAUUSD strengthens to an interim high and hits strong resistance at 2477.5. Gold is not ready to break the boundary yet and is forming a pullback ahead of the news - PPI to be released at 12:30 GMT. Fundamentally, traders are still watching the situation in the Middle East as there are rumors of different nature every day. If the conflict escalates, it will only increase the interest in the metal. Also, traders are waiting for PPI (one of the key inflation reports) as well as CPI (to be published on Wednesday) to determine if the US Federal Reserve is preparing a significant interest rate hike after the weak employment report. Technically, 2477 and 2458 are worth watching. If price starts to return to resistance and consolidate near the level, then a breakout is worth waiting for. But a break of support at 2458 will send the price down to the zone of interest before a possible rise. Resistance levels: 2477, 2483 Support levels: 2458, 2450, 2439 Key focus on news and market fundamentals that could set a medium-term tone for the dollar and gold. But, technically gold is strongly bullish... Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDShort
by RLinda
14
GOLD → The bull market continues. Ahead of the PPI...FX:XAUUSD has been breaking through the key resistance 2431 since the opening of the session and is holding towards the liquidity zone 2458. Ahead of PPI, which may set a short-term tone in the market. Gold continues to form a bullish trend, the general premise is that the price is going to test ATH. Ahead of PPI and it is worth paying attention to the inflation indicator, which plays an important role for the Fed and the formation of further strategy. Also a lot of attention to the Middle East, namely the actions of Iran.... Technically, the price is in the range of 2458 - 2431. Emphasis on the resistance, because, on the background of a distant retest, it will not be possible to break this zone from the first time and a correction may take place before further growth. Resistance levels: 2458, 2477 Support levels: 2431, 2418 Traders expect the PPI to remain at the same level, but if the data indicates a decline in inflation, the market may take it very positively. Unpredictable data can increase market volatility quite a lot. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
23
NZDCAD → Consolidation prepares the market for a trend change ↑FX:NZDCAD is breaking the current bearish trend and forming a bullish off-trend pattern. Focusing on the 0.82863 "trigger" resistance, bulls are targeting it to break this area... Accumulation is forming in relation to the mentioned zone, if the structure will remain, and buyers will continue active attacks towards the "trigger", then in the long term we can look for an entry point for a breakdown. The market is still restrained by MA-200 & MA-50, but the 200-day line is undergoing a third retest, which generally increases the chances of price consolidation above the key SMA. Globally we have a neutral trend, locally the market sentiment is starting to turn bullish. The structure will be broken if the price consolidates below 0.82239. Resistance levels: 0.82863, MA-200 Support levels: 0.82239, MA-50 Fundamentally, the situation in New Zealand is calming down and the market is starting to recover losses. Emphasis on the ascending triangle on H4, it is possible to build short-term and medium-term prospects in relation to this figure Rate, share your opinion and questions, let's discuss what's going on with ★ NZDCAD ;) Regards R. Linda!
Long
by RLinda
5
GOLD → The bulls kept the market from falling. Emphasis on 2431FX:XAUUSD is working out the range support and realizing the potential of the pattern "symmetrical triangle" in a bullish direction. On H1-H4 the market is in a sideways range, locally we are dealing with a bullish trend. There is no news today. Technically, a bullish market is developing. Global trend is upward, local trend is neutral with bullish prerequisites. The price is squeezed between the resistance at 2431, which is the key resistance. A breakdown and consolidation above this zone will open a huge potential for the market. On H1, consolidation is forming above the support at 2418, a retest and liquidity capture is possible before further growth, as the bullish potential (locally) is not exhausted yet and the upward movement can be continued, but after a small correction. The market is perfectly working the lower boundary of the range 2369 and now considers the upper boundary 2477 as a potential.... Resistance Levels: 2431 Support levels: 2418, 2407, 2402 Emphasis on these levels. Most likely MM may test the support before the subsequent rise. But the primary retest of 2431 may give a small correction before the breakout and impulse to the mentioned targets. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
10
SOLANA → Correction to the liquidity zone before the rally ↑BINANCE:SOLUSDT enjoys high interest from both a fundamental and technical perspective. Bulls overcome key resistance, but the coin follows bitcoin and there are nuances.... Solana's growth is likely to continue because it is well positioned to capture the next wave of cryptocurrency adoption. Likewise, the coin is also strengthening as the third major crypto asset after Bitcoin and Ethereum. Investors evaluate such positive factors as: high activity amid the BTC correction, more meme coins (weird, but okay), growth in overall capitalization and DEX volumes on the network, and low commissions. This whole conglomerate suggests that Solana could be the next crypto-ETF to launch. Technically, we should pay attention to the nuance between Mt.Gox and BTC, accordingly, the market may slip to support until the situation stabilizes before further growth, which can be influenced by ETH-ETF. Resistance levels: 162.45 Support levels: 140.0 133.8, 122.3 The market may let the correction continue due to Mt.Gox, which activated BTC transfers after a test transaction today. And since SOL actively follows BTC, the moves could be correlated. The bullish trend will continue after the situation stabilizes. Rate, share your opinion and questions, let's discuss what's going on with SOL ;) Regards R. Linda!
Long
by RLinda
10