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Gold Breakout Imminent? Uncover the Explosive Potential of GOLD!Current Trend Bull Flag Formation: The chart indicates a bull flag pattern, a bullish continuation pattern that usually occurs after a strong uptrend (flagpole). The consolidation within the flag is typically a pause before the next upward move. Trendlines: The yellow trendlines outlining the flag suggest that the price is currently testing the upper boundary of this consolidation range. Fibonacci Retracement Levels 78.60%: This level is around 2431.637 (coincides with a 4HR LQZ), acting as a strong resistance zone. 61.80%: Around 2410.880, which the current price has just crossed, potentially indicating bullish momentum. 50.00%: Around 2393.940, served as a support level during the consolidation. 38.20%: Around 2372.760, another support level during the consolidation. Liquidity Zones (LQZ) 4HR LQZ at 2431.637: A significant resistance zone that aligns with the 78.60% Fibonacci retracement level. This is a critical area to watch for potential price reaction. 4HR LQZ at 2349.449: A key support zone which held during the recent consolidation phase. Price Action Current Price: At 2410.880, the price is approaching the critical resistance at the 4HR LQZ (2431.637). Breakout Potential: If the price can break and hold above the 2431.637 level, it may confirm the continuation of the bullish trend, targeting higher liquidity zones. Support Levels: The price needs to stay above the 61.80% Fibonacci retracement level (2410.880) to maintain bullish momentum. A drop below could lead to further consolidation or a bearish reversal. Daily Bull Flag Upper Trendline: The price nearing the upper trendline of the daily bull flag indicates potential breakout if breached. Lower Trendline: Support if the price pulls back. Trading Strategy Long Entry: Upon a confirmed breakout above the 4HR LQZ at 2431.637, with a potential target of the next daily liquidity zone at 2475.281. Use the 50.00% retracement level (2393.940) as a support for placing stop-loss to protect against downside risk. Short Entry: If the price fails to break above the 4HR LQZ and shows bearish reversal signs, a short trade could be considered with a target back to the lower 4HR LQZ at 2349.449. Use the current price level (2410.880) as a resistance for stop-loss placement. Risk Management: Utilize appropriate position sizing and risk management to account for volatility and potential price fluctuations. Summary Bullish Outlook: If the price breaks above the 2431.637 level, indicating a continuation of the bull flag pattern, with targets at 2475.281 and beyond. Bearish Outlook: If the price fails to break above 2431.637 and shows a reversal, potential downside targets include 2393.940 and 2349.449. Monitoring the price action around these critical levels will be crucial in determining the next significant move for XAUUSD.
OANDA:XAUUSDShort
by Adlercon333
DOGE - 120% Increase FIB Target (⊙_⊙)Dogecoin is looking bullish here for a couple of reasons: 1) Chart Pattern Inverse Head and Shoulders in the Daily 2) Technical Indicator "BUY" flash in the weekly 3) Trendline Analysis Higher lows, consistently If you've been following, you'll know I've been looking at a multi-month playout where we can expect another impulse wave up in Bitcoin as well as for altcoins, naturally. A few days ago I made a post on why I believe the corrective phase is over, and why we're likely in the beginning of the new impulse wave up. 👇 It's important to note that this impulse wave is potentially another multi month playout . But with patience, and courage, it can be a rewarding upcoming few months. ___________________________ KUCOIN:DOGEUSDT
Long
by CryptoCheck-
NAS100USD (THE PRICE BETWEEN TWO TURNING LEVEL ) ( 1D )NAS100USD HELLO TRADERS Tendency , the price inside two turning level around 19,058 & 18,371 . TURNING LEVEL (1) : the price of this level at 19,058 , so if the price breaking this level reach a resistance level (1) . TURNING LEVEL (2) : the price of this level at 18,371 , so if the price breaking this level reach a support level (1) . RESISTANCE LEVEL (1) : this level around 19,848 , for reach this resistance level the price need breaking a turning level (1) . RESISTANCE LEVEL (2) : around 20,688 , for reach this level it will be breaking by open 4h or 1h candle above resistance level (1) SUPPORT LEVEL (1) : this level around 17,047 , for reach this support level the price need breaking a turning level (2) . SUPPORT LEVEL (2) : support level at 15,811 , for reach this level will be breaking by open 4h candle below support level (1) . CORRECTIVE LEVEL : currently price 19,044 , have two scenario , first corrective turning level (1), before dropping to touch a turning level (2) , then breaking this level reach a support level (1), second corrective turning level (2) , to reach a turning level (1) , then breaking this level reach a resistance level (1). TARGET LEVEL : RESISTANCE LEVEL : 19,848 , 20,688 . SUPPORT LEVEL : 17,047 , 15,811.
OANDA:NAS100USD
by ArinaKarayi
EURUSD ( STABILIZING BELOW TURNING LEVEL ) (4H)EURUSD HELLO TRADERS Tendency , the price is under bearish pressure , until trading below 1.084 . TURNING LEVEL : the price of this level at 1.084 , as long as the price trading below this level reach a support level (1) , but if breaking by open 4h candle above this level reach a resistance level (1) RESISTANCE LEVEL (1) : this level around 1.088 , for reach this resistance level the price need breaking a turning level RESISTANCE LEVEL (2) : around 1.094 , for reach this level it will be breaking by open 4h or 1h candle above resistance level (1) SUPPORT LEVEL (1) : this level around 1.079, for reach this support level the price need stabilizing below turning level SUPPORT LEVEL (2) : support level at 1.076 , for reach this level will be breaking by open 4h candle below support level (1) PRICE MOVEMENT : currently price 1.083 , as long as the price trading below this level reach a support level (1) , but by breaking this level by open 4h candle above this reach a resistance level (1) , MY GOAL : support level (1) at 1.079 . TARGET LEVEL : RESISTANCE LEVEL : 1.088 , 1.094 . SUPPORT LEVEL : 1.079 , 1.076 .
Short
by ArinaKarayi
USDJPY ( INSIDE OLD DEMAND ZONE ) (4H)USDJPY HELLO TRADERS Tendency , the price inside two turning level at 154.786 & 153.625 . TURNING LEVEL (1) : the price of this level at 154.786 , so if the price breaking this level reach a resistance level (1) . TURNING LEVEL (2) : the price of this level at 153.625 , so if the price breaking this level reach a support level (1) . RESISTANCE LEVEL (1) : this level around 157.687 , for reach this resistance level the price need breaking a turning level (1) . RESISTANCE LEVEL (2) : around 159.893 , for reach this level it will be breaking by open 4h or 1h candle above resistance level (1) . SUPPORT LEVEL (1) : this level around 151.996 , for reach this support level the price need breaking a turning level (2) . SUPPORT LEVEL (2) : support level at 150.180, for reach this level will be breaking by open 4h candle below support level (1) . CORRECTIVE LEVEL : currently price 153.931 , have two scenario , first corrective 154.786 , before dropping to touch a 153.625 , then 151.996 , second corrective 153.625 to reach a 154.786, then breaking this level reach a resistance level (1). TARGET LEVEL : RESISTANCE LEVEL : 157.687 , 159.893 . SUPPORT LEVEL : 151.996 , 150.180.
by ArinaKarayi
2
Gold's Next Explosive Move: Is a Massive Surge or Dramatic Drop?Major Support / Resistance Zone: This zone is marked clearly on the chart and acts as a significant level where price has previously reversed or consolidated. It's crucial to monitor how price reacts around this area. Wave Analysis: The chart shows a clear Elliott Wave structure, with a 5-wave pattern identified. Waves (1) to (5) represent the motive waves, and the correction waves are seen in between. Bearish Flag #1 and #2: These flags indicate periods of consolidation following a downward movement, suggesting potential for continuation to the downside. They are often characterized by lower highs and lower lows forming within a channel. Descending Channel: The descending channel provides a clear bearish structure, with price making lower highs and lower lows. This channel acts as a guide for potential price movement, indicating bearish sentiment as long as the price remains within this structure. Daily Bull Flag: This larger bullish flag formation suggests a longer-term bullish potential if price breaks above the flag's upper boundary. It's a key pattern to watch for potential upside. 1HR LQZ / Reversal Zone: This liquidity zone (LQZ) is marked as an area where a significant amount of orders might be present, potentially leading to reversals or significant price reactions. 4HR LQZ: Similar to the 1HR LQZ, but observed on the 4-hour timeframe, suggesting a more significant potential reversal or consolidation area. Bullish Potential: If the price breaks above the 1HR LQZ / Reversal Zone and the descending channel, there is a bullish potential up to the levels marked on the chart. The structure would need confirmation through higher highs and higher lows. Bearish Potential: If the price fails to break above the descending channel and instead moves below the 4HR LQZ, a bearish continuation is likely, potentially targeting lower support levels. Summary The chart indicates a potential for both bullish and bearish scenarios depending on how the price reacts to the identified key levels (major support/resistance zone, 1HR and 4HR LQZs, and the descending channel). Bullish scenario: Break above the 1HR LQZ and the descending channel, leading to a continuation towards higher levels. Bearish scenario: Failure to break above the descending channel and a move below the 4HR LQZ, indicating a continuation to the downside. This analysis should help in making informed trading decisions based on the observed technical patterns and key levels.
OANDA:XAUUSDLong
by Adlercon333
4
Gold's Next Big Move: Will It Skyrocket or Plummet? Expert View!Major Support / Resistance Zone: This zone is marked clearly on the chart and acts as a significant level where price has previously reversed or consolidated. It's crucial to monitor how price reacts around this area. Wave Analysis: The chart shows a clear Elliott Wave structure, with a 5-wave pattern identified. Waves (1) to (5) represent the motive waves, and the correction waves are seen in between. Bearish Flag #1 and #2: These flags indicate periods of consolidation following a downward movement, suggesting potential for continuation to the downside. They are often characterized by lower highs and lower lows forming within a channel. Descending Channel: The descending channel provides a clear bearish structure, with price making lower highs and lower lows. This channel acts as a guide for potential price movement, indicating bearish sentiment as long as the price remains within this structure. Daily Bull Flag: This larger bullish flag formation suggests a longer-term bullish potential if price breaks above the flag's upper boundary. It's a key pattern to watch for potential upside. 1HR LQZ / Reversal Zone: This liquidity zone (LQZ) is marked as an area where a significant amount of orders might be present, potentially leading to reversals or significant price reactions. 4HR LQZ: Similar to the 1HR LQZ, but observed on the 4-hour timeframe, suggesting a more significant potential reversal or consolidation area. Bullish Potential: If the price breaks above the 1HR LQZ / Reversal Zone and the descending channel, there is a bullish potential up to the levels marked on the chart. The structure would need confirmation through higher highs and higher lows. Bearish Potential: If the price fails to break above the descending channel and instead moves below the 4HR LQZ, a bearish continuation is likely, potentially targeting lower support levels. Summary The chart indicates a potential for both bullish and bearish scenarios depending on how the price reacts to the identified key levels (major support/resistance zone, 1HR and 4HR LQZs, and the descending channel). Bullish scenario: Break above the 1HR LQZ and the descending channel, leading to a continuation towards higher levels. Bearish scenario: Failure to break above the descending channel and a move below the 4HR LQZ, indicating a continuation to the downside. This analysis should help in making informed trading decisions based on the observed technical patterns and key levels.
OANDA:XAUUSDLong
by Adlercon333
2
DOGECOIN ( IN THE SENSITIVE AREA ) (4H)DOGECOIN HELLO TRADERS Market Performance : - Volatility: Like most cryptocurrencies, Dogecoin is highly volatile. Its price can fluctuate significantly based on market sentiment, social media trends, and endorsements. - Market Cap: Despite its origins as a joke, Dogecoin has a substantial market cap and is one of the top cryptocurrencies by market capitalization. Tendency , the price inside sensitive area between 0.13 & 0.12 . TURNING LEVEL (1) : the price of this level at 0.13 , so if the price breaking this level reach a resistance level (1) . TURNING LEVEL (2) : the price of this level at 0.12 , so if the price breaking this level reach a support level (1) . RESISTANCE LEVEL (1) : this level around 0.14 , for reach this resistance level the price need breaking a turning level (1) . RESISTANCE LEVEL (2) : around 0.16 , for reach this level it will be breaking by open 4h or 1h candle above resistance level (1) SUPPORT LEVEL (1) : this level around 0.11, for reach this support level the price need breaking a turning level (2) . SUPPORT LEVEL (2) : support level at 0.09 , for reach this level will be breaking by open 4h candle below support level (1) . CORRECTIVE LEVEL : currently price 0.12 , have two scenario , first corrective 0.13, before dropping to touch a o.12 , then 0.11 , second corrective 0.12 to reach a 0.13 , then breaking this level reach a resistance level (1). TARGET LEVEL : RESISTANCE LEVEL : 0.13 , 0.16 , SUPPORT LEVEL : 0.11 , 0.09 .
by ArinaKarayi
1
XRPPUSDT ( INSIDE SUPPLY ZONE ) ( 1D )XRPUSDT HELLO TRADERS Tendency , the price inside two turning level around 199.493 & 197.879 , inside a supply zone TURNING LEVEL (1) : the price of this level at 0.61 , so if the price breaking this level reach a resistance level (1) . TURNING LEVEL (2) : the price of this level at 0.57 , so if the price breaking this level reach a support level (1) . RESISTANCE LEVEL (1) : this level around 0.67 , for reach this resistance level the price need breaking a turning level (1) . RESISTANCE LEVEL (2) : around 0.72 , for reach this level it will be breaking by open 1d or 4h or 1h candle above resistance level (1) . SUPPORT LEVEL (1) : this level around 0.50 , for reach this support level the price need breaking a turning level (2) . SUPPORT LEVEL (2) : support level at 0.32, for reach this level will be breaking by open 1d candle below support level (1) . PRICE MOVEMENT :currently price around 0.60 , the price inside supply zone , in my suggest the price may be corrective 0.61 before dropping . TARGET LEVEL : RESISTANCE LEVEL : 0.67 , 0.72 . SUPPORT LEVEL : 0.50 , 0.32 .
Short
by ArinaKarayi
Buying Opportunity on GBPUSDIf you're looking for a buying opportunity on GBPUSD like I am, there’s an exciting setup to keep an eye on. Current Overview: 4-Hourly Chart: - There’s a Bullish Shark Pattern nearing completion, which is a great setup for a potential buy. Buying Opportunity: Bullish Shark Pattern Completion: - Key Level: 1.2807 - What to Do: Wait for the Bullish Shark Pattern to complete at 1.2807. Strategy: 1. Magic Candle Confirmation: This is crucial! Wait for the Magic Candle Confirmation at 1.2807 before entering a long position. It increases the chances of a successful trade. 2. Stop-Loss: Include our stop-loss buffer just below the pattern completion level to manage risk. Final Thoughts: Trading the Bullish Shark Pattern can be highly rewarding if executed properly. Stay patient and wait for the confirmation before jumping in. Are you planning to trade GBPUSD? Do you have any additional insights or strategies? Share your thoughts and strategies below! Happy trading, everyone! 🚀
Long
by RaynLim
Buying Opportunities on EURUSDHere’s an exciting update on EURUSD, which has just broken out of consolidation on the weekly chart. Let’s explore the buying opportunities available. Weekly Chart: EURUSD has broken and closed above the consolidation, signaling a potential upward trend. Buying Opportunities on the 4-Hourly Chart: 1. Support Level: - Key Level: 1.0843 - What to Do: Look for a buying opportunity at this support level. 2. Bullish Shark Pattern: - Pattern Completion Level: 1.0820 - What to Do: Wait for the Bullish Shark Pattern to complete at 1.0820 for another buying opportunity. Strategy: 1. Magic Candle Confirmation: Always wait for this confirmation before entering the trade. It ensures a higher probability of success. 2. Stop-Loss: Place your stop-loss just below the entry level after our buffer to manage risk. Final Thoughts: This breakout on the weekly chart offers promising buying opportunities. Remember to stay patient and wait for the Magic Candle Confirmation before entering your trades. What’s your plan for EURUSD? Are you looking at the support level or the Bullish Shark Pattern? Share your thoughts and strategies below! Happy trading, everyone! 🚀
Long
by RaynLim
VZ 5M Long Daytrade Aggressive Trend TradeAggressive Trend Trade - short impulse + volumed T1 level + support level + biggest volume weak attempt manipulation Calculated affordable stop limit 1 to 2 R/R take profit Hour Trend "+ open gap with retest + long impulse + SOS test level + 1/2 correction + support level + volume zone" Daily CounterTrend "- short impulse - biggest volume TE / T1" Monthly Trend "+ long balance + historical 1/2 correction with exhaustion volume in the end + initiative take over + ICE level + volumed? 2Sp + weak test" VZ @NYSE Sell Limit 40.22, GTC Sell Stop 39.89 LMT 40.01, GTC
NYSE:VZLong
by MishaSuvorov
GOLD ( BREAKOUT CHANNEL ) (4H)XAUUSD HELLO TRADERS Tendency , the price is under bearish pressure , after breakout channel . TURNING LEVEL (1) : the price of this level at 2,391$, so if the price breaking this level reach a resistance level (1) . TURNING LEVEL (2) : yesterday this level worked a support level , as mentioned breakout 2,391$ reach this level ,the price of this level at 2,365$ , so if the price breaking this level reach a support level (1) . RESISTANCE LEVEL (1) : this level around 2,420$ , for reach this resistance level the price need breaking a turning level (1) . RESISTANCE LEVEL (2) : around 2,440$ , for reach this level it will be breaking by open 4h or 1h candle above resistance level (1) SUPPORT LEVEL (1) : this level around 2,340$, for reach this support level the price need breaking a turning level (2) . SUPPORT LEVEL (2) : support level at 2,320$ , for reach this level will be breaking by open 4h candle below support level (1) . CORRECTIVE LEVEL : currently price 2,374$ , have two scenario , first corrective 2,391 before dropping to touch a 2,365$ , then 2,340$ , second corrective 2,365$ to reach a 2,391$ , then breaking this level reach a resistance level (1). TARGET LEVEL : RESISTANCE LEVEL : 2,420$ , 2,440$ , SUPPORT LEVEL : 2,340$ , 2,320$ .
OANDA:XAUUSDShort
by ArinaKarayi
Missed the XAUUSD Move? Here’s What You Overlooked!1. Daily Trendline Description: The yellow trendline running across the chart represents the overall upward trend on the daily timeframe. It shows that despite the recent fluctuations, the long-term trend has been bullish. Significance: This trendline serves as a dynamic support level. Traders often look for price action around this trendline to gauge the strength of the ongoing trend. A break below this trendline could signal a potential reversal or a stronger bearish movement. 2. Ascending Channel Larger Ascending Channel: Description: This channel is characterized by two parallel lines (yellow) sloping upwards. The price has been moving within this channel for a considerable period. Significance: The upper boundary acts as resistance, while the lower boundary serves as support. The price breaking below the lower boundary can indicate the end of the bullish trend and the beginning of a bearish trend. Smaller Ascending Channel: Description: A smaller channel within the larger context, indicating a shorter-term upward movement. Significance: The break below this smaller channel, as shown on the chart, signifies a potential reversal or correction within the larger trend. 3. Support/Resistance Description: Horizontal lines marked as support and resistance represent key price levels where the price has historically faced buying or selling pressure. Significance: These levels are crucial for identifying potential entry and exit points. The support level acts as a floor where buying interest is strong enough to prevent the price from falling further. Conversely, the resistance level acts as a ceiling where selling interest prevents the price from rising further. 4. Higher High (HH) and Lower High (LH) HH (Higher High): Description: A peak higher than the previous peak, indicating the continuation of an uptrend. Significance: The formation of a higher high typically signals bullish momentum. However, in this case, the subsequent failure to maintain this level and the formation of a lower high (LH) suggests weakening bullish strength. LH (Lower High): Description: A peak lower than the previous peak, indicating potential trend reversal. Significance: The lower high after a higher high is a bearish signal, suggesting that buyers are losing control and sellers are gaining strength. 5. 15M/5M Bear Flag Entry Description: A bear flag pattern on the 15-minute and 5-minute timeframes is highlighted. This pattern consists of a sharp decline followed by a short consolidation in the form of an upward-sloping channel (flag). Significance: The bear flag is a continuation pattern, indicating that after a brief consolidation, the price is likely to continue its downward movement. The breakout from this flag pattern provides a potential entry point for short positions. 6. Target Profit Levels (TP 1 and Daily LQZ/TP 2) TP 1 (2,347.560): Description: The first target profit level is set at 2,347.560. Significance: This level is likely determined based on historical support levels or a measured move from the recent price action. Traders might look to take partial profits or exit their positions at this level. Daily LQZ/TP 2 (2,265.195): Description: The second target profit level is set at 2,265.195, which aligns with the daily liquidity zone. Significance: This is a more ambitious target, potentially indicating a stronger bearish move. The liquidity zone suggests an area with significant trading volume, which could act as a magnet for the price. Conclusion The chart presents a comprehensive analysis of the XAUUSD (Gold Spot) with multiple technical indicators suggesting a potential bearish outlook. The breakdown from the ascending channels, the formation of a lower high, and the bear flag pattern all point towards a continuation of the downward trend. The identified support and resistance levels, along with the target profit zones, provide clear benchmarks for managing trades.
OANDA:XAUUSD
by Adlercon333
NOTUSD ( INSIDE SENSITIVE AREA ) (4H)NOTUSDT HELLO TRADER Tendency , the price between two turning level around 0.016 & 0.013 . TURNING LEVEL (1) : the price of this level at 0.016, so if the price breaking this level reach a resistance level (1) . TURNING LEVEL (2) : the price of this level at 0.013 , so if the price breaking this level reach a support level (1) . RESISTANCE LEVEL (1) : this level around 0.020 , for reach this resistance level the price need breaking a turning level (1) . RESISTANCE LEVEL (2) : around 0.023 , for reach this level it will be breaking by open 4h , 1h candle above resistance level (1) . SUPPORT LEVEL (1) : this level around 0.009, for reach this support level the price need breaking a turning level (2) . SUPPORT LEVEL (2) : support level at 0.004 , for reach this level will be breaking by open 4h candle below support level (1) . CORRECTIVE LEVEL : if the price corrective turning level (1) it is mean the price trying to reach a support level (1) , so if the price corrective a turning level (2) refers trying to reach a resistance level (1). TARGET LEVEL : RESISTANCE LEVEL :0.020 , 0.023 , SUPPORT LEVEL : 0.009 , 0.004 .
by ArinaKarayi
XAUUSD Poised for a Massive Breakout: Are You Ready?Chart 1: 4-Hour Timeframe Trend Analysis: The chart shows a clear upward trend, forming higher highs and higher lows. A wedge pattern is visible with converging trend lines indicating a potential breakout scenario. Key Levels: Support: Around 2348.248 (4hr LQZ). Resistance: Approximately 2412.240. Major Resistance: The upper trendline around 2480. Recent Price Action: The price has recently tested the lower trendline support and is currently retracing upwards. A lower high (LH) has formed around 2480, suggesting a potential reversal or consolidation phase. Potential Scenarios: Bullish: If the price breaks above the 2412 resistance, it may retest the upper trendline around 2480. Bearish: A break below the 4hr LQZ at 2348.248 could signal further downside towards the daily LQZ at 2267.320. Chart 2: 1-Hour Timeframe Trend Analysis: A shorter-term view confirming the upward trend with higher highs and higher lows. The formation of a wedge pattern indicates consolidation within a narrowing price range. Key Levels: Support: Around 2348.248 (4hr LQZ). Resistance: Approximately 2412.240, coinciding with the previous chart. Recent Price Action: Price recently bounced off the 4hr LQZ support level and is now hovering near the 2412 resistance. The lower high (LH) indicates sellers are stepping in around the 2412 level. Potential Scenarios: Bullish: Breaking and closing above 2412 could lead to further upside towards 2480. Bearish: Rejection at 2412 and a break below recent lows could target the 4hr LQZ support at 2348.248. Chart 3: 15-Minute Timeframe Trend Analysis: Short-term consolidation observed within a wedge pattern. Recent price action indicates potential for a breakout or breakdown from this pattern. Key Levels: Support: Around 2348.248 (4hr LQZ). Resistance: Approximately 2412.240. Recent Price Action: Price is consolidating just below the 2412 resistance level, forming a wedge pattern. The 15-minute timeframe shows the price struggling to break above 2412. Potential Scenarios: Bullish: A breakout above the wedge and 2412 resistance could lead to a quick move towards 2480. Bearish: A breakdown from the wedge could revisit the 4hr LQZ support at 2348.248. Conclusion The overall trend across multiple timeframes remains bullish with key resistance at 2412 and significant support at 2348.248. A break above 2412 could signal further upside towards 2480, while a failure to break and sustain above this level may lead to consolidation or a pullback to the 4hr LQZ support. Monitoring price action around these key levels will provide insights into the next directional move.
OANDA:XAUUSD
by Adlercon333
Gold at Crossroads: Breakout or Breakdown? Dont Miss It!Technical Breakdown for XAUUSD Impulsive Move and Correction: The price made an impulsive move upwards, indicating strong bullish momentum initially. After reaching the peak, the price began to form a correction pattern, which typically suggests that the trend might continue in the same direction after the correction is complete. Descending Channel: Within the correction, a descending channel formed. This pattern often indicates that once the correction is over, the price may break out in the direction of the original move (downwards in this case). Liquidity Zones (LQZ): 1HR LQZ / Reversal: The current price is around the 1-hour Liquidity Zone, a critical area where buyers or sellers are likely to step in, potentially causing a reversal or significant price movement. 4HR LQZ: A longer-term liquidity zone that acts as a strong support level, where price may react and change direction. Daily LQZ: Another significant support level on a daily timeframe that can influence long-term price movements. Key Observations: Lower High (LH): The chart shows a lower high, suggesting a potential bearish trend continuation. Correction Pattern: The price forming a correction pattern within the descending channel indicates that traders should watch for a potential breakout, likely to continue the downtrend. Trading Insights: Trend Continuation: The correction pattern within the descending channel suggests a possible continuation of the downtrend. Traders might look for breakout signals below the channel to confirm this move. Reversal Potential: If the price holds at the 1HR LQZ or breaks above the descending channel, it could signal a bullish reversal, providing an opportunity for upward trades. Key Levels to Monitor: 1HR LQZ: Watch for price reactions around this level for potential short-term trading opportunities. 4HR and Daily LQZ: These levels are crucial for identifying long-term support and resistance, offering potential entry and exit points based on how the price interacts with them. Summary Understanding impulsive moves, correction patterns, and liquidity zones can significantly enhance your trading strategy. By observing how price reacts at these key levels and patterns, you can make more informed trading decisions. Watch for breakout signals from the correction pattern and monitor the liquidity zones for significant price reactions to identify potential trading opportunities.
OANDA:XAUUSDShort
by Adlercon333
2
NZDUSD - Selloff Acceleration on Neckline BreakThis week's open will be interesting. It'll largely be dependent on the resumption of strength of the US dollar. The anticipated strengthening of the US dollar is supported over on this NZDUSD pair. Looking at the daily timeframe, the New Zealand dollar has shown a weakening in strength throughout the months of June and early July. My proposed trade entry and exit targets are based on the 5-period daily ATR of 42. Take profit: 100 pips (2x~) Stop loss: 40 pips (1x~)
Short
by FinancialGamblR
USDJPY Opportunities for Both Bears and BullsHere’s an exciting update on USDJPY, which has something for both short-sellers and those looking to buy. Let’s dive in! Current Overview: - 4-Hourly Chart: - There’s a sell zone, but the overall movement of USDJPY is on a bullish ride. :chart_with_upwards_trend: Shorting Opportunity: - Key Level: 157.69 - What to Do: If you’re looking to short, watch for a Magic Candle Confirmation within the sell zone (red box). The ideal entry would be at 157.69. Buying Opportunity: - Key Pattern: Potential Head and Shoulders Formation - Key Level: 157.69 - What to Do: Like me, if you’re waiting to buy, this is the level to watch. Wait for a Magic Candle Confirmation at 157.69 to enter a long position, betting on a Potential Head and Shoulders Formation. Final Thoughts: Whether you’re looking to short or buy, the key is patience and waiting for confirmation. Trading is all about making informed decisions and managing risk effectively. What’s your plan for USDJPY? Are you in the short camp or the long camp? Share your thoughts and strategies below! Happy trading, everyone!
Long
by RaynLim