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Ascending Channel

GOLD → Prerequisites for further decline, or?OANDA:XAUUSD is within the descending price channel. The trend break occurred at the end of June. Within the current channel, the price makes a false breakdown of 1902 and forms a rebound to resistance, which many perceived as a trend change, but it is not so There are not many key news releases this week, but all of them are published on Wednesday, they are worth paying attention to, for the data indicator will provide us with a medium-term insight for pricing: 1) SP Global US Services PMI 2) ISM Non-Manufacturing PMI 3) ISM Non-Manufatiruong Prices Monday is a day off in the US, hence we do not expect high volatility. From the technical analysis point of view: The price is in a descending price channel. The nearest resistance that may play an important role for the price is at 1920, 1935, on Monday and Tuesday the price is likely to reach this area before falling further. Why am I expecting a fall? Pay attention to the DXY chart. The dollar index has consolidated above the strong 103 level, forming an impulse and testing a false break of 104.3. In the medium term, the DXY could continue to rise towards 105.65, which would give a bearish push for gold Support levels: 1902.9, 1884 Resistance levels: 1920, 1935.5 The direction of the dollar will give us the primary movement of the gold price in the first half of the weekly session, the news on Wednesday will determine the further movement. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
21
Zooming out in Crypto InvestingLet's take a step back and chat about the power of zooming out when it comes to analyzing Bitcoin's price chart. It's like getting a bird's-eye view of the crypto landscape – and trust me, it's full of valuable insights. Ready to dive into the benefits of zooming out and uncovering a decade-long ascending channel? Let's go! 🔍 The Magic of Perspective: Imagine looking at a single brushstroke versus the entire painting – that's the essence of zooming out. When you expand your view, you're not just seeing the trees; you're taking in the entire forest. Zooming out offers context, a broader picture, and a chance to spot long-term trends. 🚀 A Decade of Growth: Believe it or not, we've been riding the crypto rollercoaster for over a decade. And guess what? Bitcoin's price action during this time has been unfolding within an ascending channel – a dynamic corridor of growth. This channel showcases higher lows and higher highs over the years. 💡 The Power of Patterns: Identifying a long-term pattern like the ascending channel can provide valuable insights for investors. It's like having a roadmap for potential price movements. Higher lows and higher highs suggest an overall bullish sentiment in the long run. 📈 The Investment Angle: For investors, zooming out is like tapping into the matrix of market movements. It's not just about day-to-day fluctuations; it's about understanding the overarching trend. And the ascending channel might just be the canvas where Bitcoin's future is being painted. 🌐 The Big Picture: So, where does this take us? Over the past ten years, Bitcoin's price has been following a steady trajectory within the ascending channel. While there will always be short-term fluctuations, the long-term trend indicates a gradual upward momentum. So, what's the big takeaway from this zooming-out adventure? 🌄 It's all about gaining perspective, understanding the long-term trend, and making more informed investment decisions. Whether you're a seasoned trader or a curious newcomer, taking a step back can be the key to unlocking a clearer view of the crypto journey. Stay curious, keep those charts zoomed out, and get ready to ride the waves of the crypto future with a newfound clarity! 📊🌊 ❗See related ideas below❗ Follow + Like this post and leave a nice comment, it will allow me to move faster and make more useful content! 💚💚💚
INDEX:BTCUSDLong
by Yaroslav_Krasko
4
🥇GOLD - Rally. The price strengthens and forms a retest XAUUSD surprises by forming a rather strong movement on the background of weak news. This movement is based on technical factors, namely the realization of consolidation within the framework of correction on the background of bearish trend TA on the high timeframe: 1) Price is correcting and aiming for resistance at 1937.5 2) Globally we have a bearish trend, locally this trend is opposite to the global one. TA on the low timeframe: 1) I have marked support at 1918 and an ascending support line 2) Price may form a liquidity retest if this area is retested. If sellers sell the level on a pullback, price will break support and fly to 1900 3) At the moment there is a chance that from 1918 area the price will break up and hit 1930. Key support📉: 1918.9, trend line Key resistance📈: 1930
OANDA:XAUUSDLong
by AndeWave
13
USDJPY → Double top on the background of the uptrend FX:USDJPY continues to form an ascending price channel. After breaking one of the resistance lines, the price is forming a pattern that could weaken the price during the DXY stop. On the chart, I have marked two levels that are quite close to each other. Pay attention to the levels 145.06 and 144.9. The price forms a correction after the formation of a double top reversal pattern, to realize the pattern the price needs to wait for confirmation (breakout of the base of the pattern). If the price returns above the level of 145.06 and forms consolidation of the price above the level, then in the short term the currency pair may update the local maximum and test the trend resistance If the price breaks the support at 144.9 and forms consolidation below the level, we will see a fall to the support zone. Resistance levels: 145.06, 145.515 Support levels: 144.9, 144.59 Consolidation near these levels in the short term will determine the future direction, our task is to follow the price reaction to these key points. Regards R. Linda!
Long
by RLinda
8
💱GBPUSD - Rising channel. Is growth to 1.29000 possible? GBPUSD forms a rebound from 1.26525 support and forms a local counter-trend correction TA on the high timeframe: 1) Price in the range of 1.28484 - 1.26525 2) After a false breakdown of support there is a potential for strengthening to resistance TA on the low timeframe 1) A local bullish channel is formed 2) Price consolidates at support and forms a retest of resistance 3) Within the up-trend, the retest of 1.27836 may form a breakout and growth to 1.29000. Key support📉: 1.27155 Key resistance📈: 1.27836
Long
by AndeWave
6
CADJPY → Ascending triangle. Waiting for a breakthrough FX:CADJPY is forming a local upward trend. The currency pair is gaining resistance at 108.12 and forming an ascending triangle, most likely we will see some development in the near future. The currencies are weakening on the background of fundamental and geopolitical nuances, but the currency pair is getting stronger, overcoming one of the key levels at 107.6. Globally, CADJPY is in a bullish trend, but for the last few weeks the price has been stopping and forming a flat. Within the flat we see prerequisites for further growth. Earlier, the SMAs were tested, which now act as support. Resistance levels: 108.12 109.47 Support levels: 107.6, pattern support According to the mentioned prerequisites, I expect a retest of the figure resistance with further breakout and growth to the mentioned resistance. Regards R. Linda!
Long
by RLinda
8
Bitcoin - will crash to 10,000! (Proof here) 10k in April 2024? This is not sci-fi, but a real scenario that is probably going to happen! Make sure you are ready for what is coming. In this analysis, I will tell you all of the reasons. Bitcoin is extremely weak compared to the stock market or gold. While gold almost hit an all-time high, Bitcoin is near its low from November 2022, which is 16K. The current price of Bitcoin is 26k, and the previous all-time high was 69k. Compared to gold, Bitcoin should be worth 60k at this moment, but it's not. A few days ago, we had a massive sell-off, not only on Bitcoin but on all altcoins. The charts on the majority of altcoins look absolutely bearish. We have entered a new bear market. No coin from the high-cap category looks bullish, to be honest. From a technical perspective, the price is now below the 200-week simple moving average and also below the 20-month simple moving average. The bulls are not strong enough to sustain the uptrend, so it looks like the bears are in full control again, and it can be really nasty. I can see another 70% crash on DOGE and SHIBA. 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. 10k is definitely a strong support that should hold! I believe this will be the bottom on Bitcoin because we have the 0.618 FIB retracement and the neckline of the head and shoulders pattern from 2020. On the chart, you can see my Elliott Wave count. Pretty much every Elliott Wave trader has bullish and bearish scenarios prepared. This is clearly my bearish scenario. Bear market 2022: impulse wave 12345; bull market 2023: triple three WXYXZ; bear market 2024: impulse wave. We can complete the ABC correction in April 2024. Let me know in the comment section what you think about a crash to 10k! Are you prepared or all in? Thank you, and for more ideas, hit "Like" and "Follow"!
BITSTAMP:BTCUSDShort
by UnknownUnicorn2537518
167
💱EURCAD - Symmetrical triangle before the impulseEURCAD stops near strong resistance and on the background of bullish trend the chart is forming a pattern that can form both upward and downward momentum TA on the high timeframe: 1) Globally, a bullish trend is visible, but before strong resistances the price stops and forms consolidation 2 Consolidation is forming between key liquidity areas TA on the low timeframe: 1) A symmetrical triangle is formed against the background of a bullish trend 2) Positive aspects of this pattern are that it is clear where to open trades (border breakout). 3) But, at the same time, in a bullish trend the price can break the support of the pattern and we will see a correction. 4) It is not important for us which of the borders will be broken, we need to wait for a signal, and it will be a breakout of the border with subsequent consolidation below or above the line. Key support📉: lower triangle boundary, 1.47000. Key resistance📈: upper triangle boundary, 1.47978
Long
by AndeWave
6
GOLD → Prerequisites that the price will continue to fall OANDA:XAUUSD finally breaks the medium-term support line and updates the low to 1885. The trading week closes near the local support level, which indicates that the market is ready to continue the trend This week ended positively for the dollar, the metallo reacted as expected. There are several important news items to watch out for in the coming week: 1) Building Permits 2) SP Global US Services PMI 3) Core Durable Goods Orders 4) Initial Jobless Claims 5) Fed Chair Powell Speaks There is talk within the FED that the market is not ready to weaken yet as inflation is still at a high level, but again, rumours and facts affect the market in categorically different ways From a technical analysis point of view the market is preparing to decline further as the global upward price channel was broken earlier, price breaks strong support and also breaks MA200, at the end of last trading session price closes very close to the risk zone, breaking through which will form a downward momentum. Support levels: 1885 Resistance levels: 1902.9 The market is weak, the dollar index continues to strengthen actively, which may continue to negatively affect gold. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
19
BTCUSD → An impulse that scares the buyer. What's next? BITSTAMP:BTCUSD is breaking the 26700 support and MA-200 forming a strong bearish momentum, but at the same time the price is not breaking the bullish channel. In terms of global outlook, the price is still in an uptrend Pay attention to the weekly chart on the left. Price is forming momentum and a strong distributive move towards the strong support at 25000. The level is important for us, has a double confirmation, the first confirmation was from the sellers side, the second from the buyer side. I think that another retest, and especially after the distributive movement, may give us either a reversal or at least a strong bullish reaction. Traders are waiting for fundamental confirmation for cryptocurrency action. At the moment it is the approval from the SEC of BTC-ETF futures applications. This will give a new breath to the market. Most likely, this movement within the uptrend may be triggered for the sake of buying the asset at a lower price before further strong growth The moving averages are acting as resistance. The market is in a correction phase. Support levels: 25000, 24819 Resistance levels: 26707, 28474, 30575 The market is in the phase of a bullish trend, a correction is forming within the upward channel on the garfish, which may end near support Regards R. Linda!
BITSTAMP:BTCUSD
by RLinda
24
Bitcoin is starting to crash to 20,330 USD! (emergency) The major uptrend from 15500 to 32000 is over, and the bears are stepping in! I expect 20330 to be hit in the next few weeks, so make sure you are prepared for it! We can clearly see that the major trendline / parallel channel is breaking down! The price is below the trendline, and what's more, if we take a look at altcoins such as ETH, it confirms this analysis! We have finished the first cycle (1) of a huge (1)(2)(3)(4)(5) impulse wave. Now we are in cycle (2), which will send the price of Bitcoin to 20330, according to my technical analysis. Why 20330? We still have the unfilled CME GAP, which you know because I have been talking about it for more than a few months. Also, we have the 0.618 FIB retracement in confluence. 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. From the Elliott Wave perspective, waves marked as (1) have usually deeper retracements, such as 0.618, 0.764, or almost 1:1. It also tends to fill previous gaps because breakaway gaps usually appear when wave (3) starts. It took 234 days for wave (1) to be completed. Compared to the stock market or gold, Bitcoin is struggling this year. Gains were overall pretty low. Bitcoin has been going sideways for a long time, and the direction is unclear. The volatility index on Bitcoin is at extreme lows, so a big move is expected! A big pump at the current price doesn't make too much sense. But a big dump is definitely on the table. Let me know what you think about BTC in the comment section! Thank you, and for more ideas, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
243
💱EURCAD - Ascending triangle EURCAD continues its bullish trend. The price is testing the resistance on the background of upward movement. There is a chance for a quick breakout TA on the high timeframe: 1) Accumulation is formed near the level of 1.47728. At the next retest, the price may break the resistance 2) The liquidity area of interest for the price is above 1.48560. TA on the low timeframe: 1) A triangle is forming 2) Price bounces off the support on the background of a bullish trend 3) A retest of resistance is forming, increasing the chance for a breakout Key resistance📈: 1.47600, 1.4796 Key support📉: 1.4700, 1.4654
Long
by AndeWave
4
CADCHF → Downtrend triangle on the background of a bearish trendFX:CADCHF under trend pressure is forming a setup to continue the trend and update the global lows. The currency pair is in the bearish phase. The price continues to decline and test the strong limit support line at 0.64990. A descending triangle pattern is forming on the chart, which can be interpreted as pressure from dynamic sellers on limit buyers at 0.64990. The price is within the descending price channel, a retest of the trend resistance each time sends the price to the indicated support - a strong signal for a breakout Moving averages act as resistance Support levels: 0.64990 Resistance levels: trend boundary, 0.65450 I expect a bounce from resistance, which will lead the price to another retest of support, which may help the price to breakout. Regards R. Linda!
Short
by RLinda
13
Bitcoin - Secret parallel channel! (Important update) Bitcoin is bullish, and I expect its price to reach levels above $30,500 in the short term! That's because we have this secret parallel channel that no one talks about. It's important to take profit on your intraday trades at the top of the parallel channel! I believe Bitcoin can rise much more, to 32k, until the end of the month. But of course, volatility on Bitcoin is currently extremely low, so this can take some time. I recommend buying XRP for the long term; the current price is very good. Check out my previous analysis on XRP in the related section down below. But be really careful in September, because this is statistically the worst-performing month for Bitcoin. Usually, Bitcoin goes down during this period of time. But after that, we have October and November, and these months are, on the other side, extremely bullish! From the Elliott Wave perspective, Bitcoin has completed the complex correction double three (WXY). We can definitely start a new impulse wave from here, but it can also transform into a triple-three pattern (WXYXZ). 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. This was a quick update on BTC. Some altcoins are pumping heavily, but these pumps are most likely a game of whales. To catch these coins, you have to sit on the right coins before it happens. Thank you, and for more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
73
GBPAUD → The start of correction within the up-trend is possibleFX:GBPAUD continues to strengthen within the framework of the uptrend. The price updates the local maximum and continues to seek trend resistance The currency pair may make a correction against the resistance of the ascending channel. The price may reach the upper boundary of the ascending range and form a false breakout or other traps for players. Price consolidation or a reversal setup below the ascending line can be a signal to start a correction. If a correction is formed, the market will have the potential to decline to 1.95613 and even to 1.93924 Moving averages indicate a strong bullish trend. Support levels: 1.95613, 1.93924 Resistance levels: 1.96200, trend resistance I expect growth up to the upper boundary of the trend with the subsequent rebound and formation of correction to the support Regards R. Linda!
Short
by RLinda
11
XRP - Time to buy for a 500% profit! (now) XRP is currently retesting a major trendline from 2022, and this retest is exactly where you want to buy this coin! This trendline is also part of an ascending parallel channel on the daily chart, which strengthens the support. What's more, we have had a strong 0.618 FIB retracement on the LOG scale. We hit this level almost to the dollar, so if you bought at this level, congratulations! I share my trades transparently and post trade setups privately. We also need to take a look at the volume indicator. Clearly, since the downtrend finished in 2022, the bullish volume is overwhelming. That's definitely positive, and XRP could reach much higher levels in the next few weeks and months! Now the most important question is: what is the profit target, and where do I take it? To answer this question, we need to take a look at the market caps of XRP and BTC. The current market cap of XRP is $33,134,349,311 and that of BTC is $574,121,632,744. The market capitalization of BTC is 17x higher than XRP! This means that XRP could theoretically make a 1500% profit and still be number 2. But be optimistic and stay with a 500% profit because it's possible that XRP will go through a 1-year consolidation period before another huge pump. So you want to use your money on something else if it happens. From the Elliott Wave perspective, this is really a strong setup. We have a nest (1-2-1-2), which is a bullish base. Now we are waiting for the 3rd wave to finish. XRP won the SEC case recently, and that caused a 100% pump in a few days. New developments are good and positive, so I don't see any reason why XRP should go down. We will take a look at all profit targets from a technical perspective in the next update on this post tomorrow. Thanks for reading! I hope you learn something new, and let me know your thoughts in the comment section!
Long
by UnknownUnicorn2537518
115
GOLD → The market is ready to continue its declineOANDA:XAUUSD continues to form a descending price channel. On Thursday a candlestick pattern is formed indicating the imbalance of forces in favor of sellers. This week is published quite a lot of interesting news. It is worth paying attention to: 15.08 1) Core Retail Sales (no data, the previous ones were bearish) 2) Retail Sales (expected to strengthen) 16.08 1) CPI (expected to decline) 2) FOMC Meeting Minutes 17.08 1) Initial Jobless Claims (no data, previous ones were bearish) 2) Fed MI In general, bad indicators for the dollar may strengthen the interest in gold, but again, we should not forget that news is a complex trading instrument. From a technical analysis perspective, gold is approaching the strong 1902-1900 liquidity area. Last week's session is closing very close to local lows, which can be interpreted as the market's willingness to continue to gain momentum for further declines. A strong bearish trend dominates the market. Local support: 1912.5, if this line is broken, an impulse to 1900 is possible, but a rebound should be expected from the mentioned support, most likely a rebound may follow during the news. Support levels: 1912, 1902, 1900 Resistance levels: 1915, 1920, 1935 Gold continues to decline, and most likely, from the opening of the new week the price may continue to fall, but in the second half there may be a rebound and local contrend strengthening. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
29
Bitcoin -> Bullish Move Ahead!Hello Traders and Investors , my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Bitcoin 💪 A couple of months ago Bitcoin perfectly retested and already rejected the previous cycle high from 2018 and also the 0.786 fibonacci level so the recent rally was quite expected. You can also see that Bitcoin is approaching the weekly support trendline of the obvious rising channel so also from a weekly perspective everything is pointing towards more continuation towards the upside. I am only waiting for daily market structure on Bitcoin to shift back to bullish and if we see a break and retest of the current resistance level then I also do expect another daily bullish rally. Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint📈 Thank you for watching and I will see you tomorrow! My previous analysis of this asset:
COINBASE:BTCUSDLong
by basictradingtv
32
💱USDJPY - Bounce from the level before resistance breakout USDJPY is testing the resistance of the ascending channel and the resistance of the 144.897 range. On the local timeframe, the price is preparing for a breakout and further growth TA on the high timeframe: 1) A retest after a month, and a quick approach to the level may give a bounce down, for example to 143.7 2) Price has stopped and is forming a decrease in volatility, most likely the consolidation phase begins, another retest of resistance may follow. TA on the low timeframe: 1) Price is sandwiched between rising resistance and rising support line, but at a less acute angle. 2) Buyers continue to make an onslaught on the resistance 3) The price may break the resistance after the next retest. Key support📉: 144.3, 143.7 Key resistance📈: 144.69, 144.89
Long
by AndeWave
8
NZDUSD → A bearish wedge could lead to a rebound FX:NZDUSD is declining in the format of a bearish wedge. Within the pattern, the price may test the key support, but what to expect from the price further? The support level of 0.59939 is the lower boundary of the global flat. There are no signals to break the support now, a retest of the level is formed after 2 months, the liquidity area will not allow to break this level. After the breakout of the support of the wedge will be followed by a retest of the indicated support level 0.59939, but I do not expect a breakout of this support. With high probability a rebound from the support may follow and the price may form a bullish momentum to the 0.61330 area. The moving averages formed a bearish signal earlier, which has already worked out, at the moment the lines indicate a bearish trend. Support levels: 0.59939 Resistance levels: 0.60692 I expect a retest of the support followed by a bounce up to 0.60692 or 0.61330. Regards R. Linda!
Long
by RLinda
8