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Zigzag

EURUSD → The market is forming limit resistanceFX:EURUSD is testing the resistance of the current trend channel, but cannot break this area. While the TVC:DXY is correcting, the currency pair is forming consolidation The dollar index is declining after the retest of 105.00, most likely the area of 104.00 will give a new impulse, therefore, the forex market will give a corresponding reaction. If the dollar strengthens, the euro will weaken. At the moment we see a retest of trend resistance, the market is forming a limit resistance area at 1.0765 and pushing the price away. The bears are showing their strength at the moment. An important support before the momentum formation is 1.0705, if this line is broken, the market may give a strong impulse. Resistance levels: 1.0765, upper boundary of the channel Support levels: 1.0705 I expect the currency pair to continue to decline, but if the dollar index breaks 104 and heads towards 103, eurusd may try to break the resistance. Regards R. Linda!
Short
by RLinda
11
GBPUSD → Countertrend correction before the fallFX:GBPUSD is forming a local reversal setup, while the dollar, from the opening of the session, is starting to form a correction On the chart below, I pointed out the "double bottom" pattern, which has overcome the base of the pattern. The important level for us is 1.2511. If the bulls hold this area, the price may strengthen to 1.26065. The dollar index has been forming a decline and correction since the opening of the session, which appropriately affects the GBP. But again, we see only local movements, it is not worth talking about a global change of trend now, as everything remains the same. The dollar index has a strong bullish trend, while GBPUSD is changing from an uptrend to a downtrend. The price may soon test MA-50, then MA-200, which may form a false breakout of resistance. Support levels: 1.24868, 1.23725 Resistance levels: 1.26065 I expect a correction to the nearest resistance before a further fall. Regards R. Linda!
Short
by RLinda
6
GOLD → The trend formation continues. Support retest OANDA:XAUUSD failed to break the resistance of the local descending channel on H1 as the price is trapped inside the global bearish trend on D1. The TVC:DXY correction is failing to yield much as gold is also weakening On yesterday's decline the market is forming a local support level at 1908.4. From the opening of the new session we see a retest of this area without any strong counter-trend pullback. It is clear that the bears are strong at the moment, as evidenced by the futures volumes. The market is in a downtrend, earlier there was a retest of 1916.7, the next target may be the support area (liquidity area) 1903, but from this area, as 1903 is a strong enough support area, a rebound may follow and form a flat or consolidation before a further maneuver. Within the flat, the price may reach resistance. Support levels: 1908. 1903 Resistance levels: 1916, trend line I expect a retest of 1908 with a subsequent breakout and testing of 1903. From 1903 a rebound to local resistance is possible before further fall. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
25
Correction in Banknifty. Zig Zag, flat, triangle, Elliott Wave Analysis:- A wave seems to be a Zig-Zag A wave . B wave to be a connecting wave . C wave to be extended wave of Zig-Zag C wave If it didn't break 46369, if broken the 46369 then the flat takes place and zig zag leave the place. . View 1:- Regular flat If it did not break B wave and breaks the low of A wave then the flat is regular flat and it may be considered as a C wave of previous zig zag wave .. View 2:- Triangle pattern Either the B wave high has crossed or not it the C wave didn't break the low of A wave and it consolidates between A and B wave's .This would lead to Triangle pattern . I'm not a SEBI registered advisor. Kindly before taking a trade do your research/ consult your financial advisor.
NSE:BANKNIFTY
by n0m0ret0ss
CHRUSDT → The bulls are holding the price above resistance BINANCE:CHRUSDT breaks the resistance of the wedge and gives us a good signal for a possible strengthening of the cryptocurrency pair while the market flagship - bitcoin makes a volume shakeout On the BINANCE:CHRUSDT chart below, I have marked the strong 25400 level. We can see that price is testing this area in a false breakout format. The problem with bitcoin's weakness is that there aren't many short-term traders. Most of the volume is with medium and long term holders, hence the activity which moves in cycles over a long distance. CHR breaks through resistance, but the moment BTC falls, the price comes back and tests the previously broken boundary. At the moment of flagging strength, CHRUSDT forms a consolidation above the line and starts to turn the price up. An important resistance for us is 0.1092, if the coin overcomes it, it will open the way to the mentioned targets Support levels: 0.0956, 0.0826 Resistance levels: 0.1092 As the coin has strengthened above the previously broken garnet, I expect a breakout of 0.1092 and further growth Regards R. Linda!
Long
by RLinda
15
GOLD → Resistance retest in correction phaseOANDA:XAUUSD is strengthening on Monday and is testing flat resistance with a false breakdown. Consolidation below 1928 is forming. The growth of gold is based on the fall of the dollar index before reaching a strong resistance On the chart, we see a flat formation after breaking the ascending channel support. Yesterday I pointed out that the TVC:DXY is in a strong bullish trend, but since the price is near strong resistance, a bounce down may follow before further gains, which is what we are actually seeing. As far as XAU is concerned, I am waiting for a fall after a false breakdown of resistance. Before the fall we are held back by the level of 1926. The target in this case will be the support at 1916 BUT, if the dollar continues to fall, gold will break 1928, and will reach 1939, also the price can test MA-200. On the global timeframe the preconditions for further fall are developing. Support levels: 1926, 1916 Resistance levels: 1928 I expect gold to decline in priority, but it should be understood that the scenario may break down based on external factors. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
21
GBPCAD → £ is weakening. Currency pair breaks support FX:GBPCAD breaks trend support and breaks flat support on the background of weakening pound sterling. A retest of the strong support area is formed. The main currency of the UK is also declining to a 3-month low The price breaks the support of the ascending price channel and forms an impulse. The market is forming an attempt to change the trend. In the near future the price may form a trend correction to the nearest resistance levels before further falling. The backdrop of the strengthening dollar is strongly affecting the entire forex market. DXY continues to update global highs, which provokes the weakening of world currencies. The level of 1.70345 and 1.7060 plays an important role for us. A retest of these areas could send the price far down. The moving averages are changing direction. Support levels: 1.70345 Resistance levels: 1.7087 I expect the fall to continue after a slight consolidation under the uptrend support. Regards R. Linda!
Short
by RLinda
12
🥇GOLD - U-turn. A retest of the support could break it Gold makes an unsuccessful attempt to break the resistance of the bearish channel. it is at the moment of the retest that the dollar starts to strengthen, which makes gold fall after the retest of the resistance. The FED is still sticking to continue to be hawkish on the dollar, which can have a bad effect on gold TA on the high timeframe: 1) DXY breaks resistance and tests the 105 area. Possible correction before further rise 2) Gold retests and forms a candle that suggests a quick sell-off of the upside, which will negatively affect gold pricing on Monday and Tuesday TA on the low timeframe: 1) The chart is showing weak buying power 2) A retest of support at 1914 is forming, a breakout could result in strong momentum to 1887 or 1860 Key support📉: 1914 Key resistance📈: 1927, 1942
OANDA:XAUUSDShort
by AndeWave
10
GOLD → False breakdown and retest give mid-term targetsOANDA:XAUUSD is forming a signal that gives us insight into further medium-term potential. The market is trading within a descending price channel. Strong TVC:DXY continues to put pressure on the XAU price There is quite a lot of news published in the coming week. It is worth paying your attention to the following: 13.09: Core CPI CPI (MoM) & (YoY) 14.09: Core Retail Sales Initial Jobless Claims PPI On the global timeframe we see a broad sideways flat formation. At the moment there is a potential for a decline towards 1800 in the medium term, and even towards 1700 or 1600 in the long term - standard trading strategies determine the trading potential within the flat. On the daily timeframe we see a false breakdown of the descending channel resistance. After two bearish candles the market forms a shakeout and a retest of the trend resistance, but a new signal is formed - a candlestick pattern with a long candle, which is also a prerequisite for a red market. Local support level is 1915, in the first half of the trading week the market may test this area with a high probability of further breakout and realization of accumulated potential for further decline to the lower boundary of the channel or flat CAPITALCOM:GOLD VELOCITY:GOLD CAPITALCOM:DXY FOREXCOM:XAUUSD COMEX:GC1! Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
16
Bitcoin - Secret patterns for professional traders! The price of Bitcoin is forming a head and shoulders pattern inside this descending parallel channel! Both of these patterns are bearish, so the probability of going down is really high at this moment. To become bullish, Bitcoin needs to invalidate both patterns. Then we can think about a long position, but at this moment, not at all! You probably want to trade with a trend, and the trend is bearish on this particular timeframe. But in the immediate short term, we could go up to form the right shoulder of the major pattern; of course, that would be an excellent opportunity to short bitcoin at a great price! Where is the profit target for the big short? I already market it on the chart, and it's between 23064 and 22853 because it is the POC of the previous expanding triangle + 1:1 FIB extension (wave 3 -> 4). As per my Elliott Wave analysis, last week we printed a new impulse wave, which is very clear and visible. Everything in confluence suggests that we are bearish, and continuation of the downtrend is extremely likely and almost definitely a guarantee. Sooner or later, we will break the support of 25k.  This is my outlook on BTC for this month; do not forget to let me know in the comment section what you think about it and if you are prepared for another crash. I need to know your opinion! This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately. Thank you, and for more ideas, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
91
🥇GOLD - Market tests resistance area by false breakout Gold is forming a local downtrend. Which is relevant after the break of the ascending channel in early September. The realization of a strong sell signal is forming on D1 TA on the high timeframe: 1) Everything is stable. False break of resistance sends the price down 2) Potential: falling to 1900 after correction. TA on the low timeframe: 1) Price in bearish trend 2) A retest of 1926 prevents the price from updating the local high 3) Consolidation is forming below 1926 after a false breakdown 4) Bears are consolidating their positions on the background of a weak buyer Key resistance📈: 1926 Key support📉: 1916 and 1903
OANDA:XAUUSDShort
by AndeWave
13
GOLD → Trend correction after breaking trend support OANDA:XAUUSD , after breaking trend support, forms a small correction and stops its fall around 1916. A trend bounce is forming and the price is testing an important resistance Globally, gold is forming a global bearish price channel on the D1 chart, but on the dev timeframe we can also identify a sideways flat in the format of a symmetrical triangle. A breakthrough of one of the figura borders will form the strongest impulse to one side or the other. Locally, on H1, the price may soon test not only the resistance level, but also one of the local highs marked by the red dot. At the moment we are considering a scenario of further decline from one of the mentioned resistance levels, as the price is forging and realizing a global bearish set-up - a decline after a false resistance of the descending channel. Support levels: 1923.8, 1916 Resistance levels: 1926, 1932 I expect a retest of the resistance area before a further fall. The retest may be formed by a false breakout OANDA:XAUUSD CAPITALCOM:GOLD COMEX:GC1! CAPITALCOM:DXY Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
15
TLMUSDT → Double bottom breaks resistance BINANCE:TLMUSDT is forming a double bottom on the chart. The market enters the phase of pattern realization, and also begins to use the previously accumulated energy BITSTAMP:BTCUSD momentarily stops its fall near the area of 26000 and stands still for a long time. Yesterday the flagship formed an impulse based on fundamental factors, which provoked a bullish movement on the altcoin market. The double bottom is entering the realization phase, the price breaks the resistance of the descending wedge and forms consolidation. It is important for us to wait for the price to finally consolidate above the pattern resistance and form a bullish potential. Support Levels: Pattern Resistance, 0.00936 Resistance levels: 0.01142, 0.01227. I expect the growth to continue, if the bulls can hold the price. Medium-term target is 0.01515. BINANCE:TLMUSD BINANCE:TLMUSDT BINANCE:BTCUSD BINANCE:BTCUSDT Regards R. Linda!
Long
by RLinda
12
GOLD → XAU makes onslaught on limit support OANDA:XAUUSD continues to decline. Since the end of the last session the price forms a limit support level and forms a pre-breakdown consolidation. The realization of a false breakout of global resistance begins The price is forging a local support level, but still has not updated the previous one, formed in late August. Consequently, the market has a target in the near term. This target is 1914.8, also the following areas can serve as a target: 1912,8 & 1903.8. Let me remind - earlier we observed the break of the uptrend support on the background of TVC:DXY (dollar index) strengthening. There is also a possibility that the market may form a small correction to 1926 before falling further. At the moment, within the medium-term scenario, I stick to a further fall in the price of gold. The moving averages are forming a reversal signal (the signal is medium-term in nature). Support levels: 1916.7 Resistance levels: 1920 I expect the fall to continue either when 1916 is broken or after the correction to 1920-1925. OANDA:XAUUSD COMEX:GC1! CAPITALCOM:GOLD CAPITALCOM:DXY Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
21
EURGBP → Weak market. Prolonged support retest FX:EURGBP is under resistance pressure.There is clearly either a weak buyer or a rather strong seller in the market. Regarding the limit support area, the price continues to push. I noted the important level of 0.8541 and 0.8521. And also an important pattern - descending triangle. The support area of the pattern coincides with the area of the limit support. The price has been testing this zone for several months and there is no particularly strong pullback. The price returns to this line every time. Most likely, the weak market continues to hint to us that the global low on the chart may be updated again in the medium term. In priority, I expect a retest of the figure resistance with a further fall to the support area and testing this zone for a breakout and decline to 0.8450. Support levels: 0.8541, 0.8521 Resistance levels: 0.8609 I expect a retest of resistance in the near future with a subsequent fall to the support area. The chance of breaking through this support is quite high at the moment Regards R. Linda!
Short
by RLinda
8
Bitcoin - The next crash is coming! But first, bullish action. The next crash is coming for the price of Bitcoin, but first we need to correct the recent downtrend! This correction can be pretty significant up to the 0.618 FIB retracement, which is at 27,609. You probably want to set your limit orders to short BTC at this level! After a bullish correction, I expect another huge crash, kindly to 20k. But of course we are not going to go down in a straight line; there will be a lot of bullish corrections, so you need to be clever on when to short Bitcoin. Resistance 2 (start of the GAP + 0.618 FIB) is at 27609, and Resistance 1 (end of the GAP + 0.382 FIB) is at 26406. I see only these 2 levels where the bears should step in again! Above the current price, we have an unfilled CME gap exactly between resistance 1 and resistance 2. These gaps tend to be filled, but of course, it's not mandatory. Bitcoin spiked significantly last week on the GBTC news; a lot of people were really optimistic and bought the pump, but a huge crash followed. It's similar to the XRP news: XRP pumped by 100% and then went down below the starting point of the pump. From the Elliott Wave perspective on the chart, we can see a strong impulse wave, which is a sign of weakness for the price. The expectation is that we need to make an ABC bullish correction before continuing to the downside in the downtrend. This is my current outlook on BTC; I am still bearish, but we need to open short at higher prices! This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately. Thank you, and for more ideas, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
95
GOLD → XAU breaks H1 support. False breakout on D1OANDA:XAUUSD is forming a false breakout of the resistance of the global nisode channel. On the local timeframe the price broke the trend support. Can this be considered as signals? Yesterday I talked about potentially important levels for us. Today, price is breaking the support area (local). The reaction to this is enough to break uptrending price channel support on H1. Pay attention to the D1 timeframe. Price is forming a false breakout of the DOWN price channel resistance against the background of the DOWN trend. If the pattern is confirmed (it will be a consolidation of the price below 1932), we will see the beginning of another strong fall in the near future. I talked about the potential of such a fall a few days ago. The target of such a movement could be the area of 1900, 1850 and 1800). Support levels: 1925, 1913 Resistance levels: 1932 The price is forming several sell signals. We need to wait for the confirmation of a bearish set-up to open trades. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
24