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#GBPCAD bearish scenarioBearish divergence in the 4H timeframe, as well as price failing to create a new high, shows potential weakness in the uptrend. Furthermore, from an Elliott wave perspective, it seems like we are at wave 5 of 5, with a high potential for a bearish move from here. In the 1H timeframe, we can see that the price managed to break below the previous higher low, successfully changing the structure towards bearish in the 1H timeframe. Let me know if you would like me to publish an analysis in a lower timeframe on this chart to take advantage of this rally.
Short
by mohemati
6
#XAUUSD60 Does GOLD change direction after war news?Asia-Europe session analysis on July 31, 2024: The news of war has broken the downtrend on the M30 timeframe, indicating a high probability that prices will reach the liquidity zone of 30-33 and then experience a slight decrease before continuing the upward trend. However, on the H4 timeframe, closing and maintaining prices above the 2440-2445 zone is necessary for the uptrend to resume. The current analysis on the D timeframe still shows a downward trend. Today marks the end-of-month candle closing and is expected to bring unpredictable fluctuations. Key price levels to watch are 2408 - 2410 and 2440 - 2445. Recommended orders: Plan 1: BUY XAUUSD zone 2408 - 2410 SL 2404 TP 2413 - 2423 - 2430. Plan 2: SELL XAUUSD zone 2430-2433 SL 2435 TP 2427 - 2423 -2418.
FX:XAUUSDShort
by wetdyerap
Gold Hit Liquidity Zone: Bullish Sentiment Ahead?So, gold quotes have hit the 'liquidity zone', where buyers trading the 'Engulfing' pattern are lurking, and we're seeing a breakout of the local high (on lower timeframes). You know the mantra: the market is always hunting for liquidity. Here's a textbook example. These zones have a solid predictive sentiment. If the quotes continue to 'chop' within a narrow range, having reached such a zone, then there's a higher probability of further upside movement, in other words, the market is kinda benevolent towards stuck bulls and doesn't want to see their blood spilled anymore."
OANDA:XAUUSD
by ClashChartsTeam
Bitcoin: RecoveryBitcoin recovered and surged back above $67,000 this morning. From a technical perspective, it is quite possible that the price is already working on green wave alt.5. However, only a breakout above the last all-time high at $73,808 will confirm this alternative scenario (40% likely). Primarily, we continue to expect a renewed sell-off into our green Target Zone between $58,655 and $47,012 before the green wave 4 is completed and the rise toward new record highs is on the cards.
BINANCE:BTCUSD
by MarketIntel
#gold cup and handle chart patternAs seen in the chart, there is a strong resemblance between the textbook cup and handle chart pattern formation and the pattern we are observing in the 4H timeframe gold chart. As a result, there is a possibility that after the current bearish corrective move finishes, we might witness another rally to the upside. The only drawback to the chart pattern formation in gold, compared to the textbook example, is that the bearish move has formed a 5-wave impulse rather than a 3-wave corrective abc formation. We could interpret this as an abc zigzag formation, but for this pattern to complete, we need a 3-wave bullish up move followed by another bearish move to complete leg c of an abc corrective bearish move, as illustrated in the chart with an arrow. Let me know if you would like me to publish an analysis in a lower timeframe on this chart to take advantage of this rally.
TVC:GOLDLong
by mohemati
Bullish Bearish Gold #GOLD #FVG #SUPPLYDEMANDCurrent Market Context Recent Trend: A significant downtrend with large red candles indicating strong selling pressure. Support and Resistance Levels: Support: Around 2,377.45 to 2,380. Resistance: Around 2,402 to 2,403.65. Potential Entry Points Bullish Entry Points: Support Bounce (Demand Order Block): Entry: Enter a long position around the support area of 2,377.45 to 2,380, if you see bullish reversal patterns (e.g., bullish engulfing, hammer) or strong buying volume. Stop Loss: Place a stop loss slightly below the support level, for example, around 2,370 to limit potential losses. Take Profit: Target the resistance area around 2,402 to 2,403.65 or previous highs for potential profit-taking. Bearish Entry Points Resistance Rejection (Supply Order Block): Entry: Enter a short position around the resistance area of 2,402 to 2,403.65, if you see bearish reversal patterns (e.g., bearish engulfing, shooting star) or strong selling volume. Stop Loss: Place a stop loss slightly above the resistance level, for example, around 2,410 to limit potential losses. Take Profit: Target the support area around 2,377.45 to 2,380 or previous lows for potential profit-taking. Chart Analysis Given the recent downtrend and strong selling pressure: Bearish Bias: The overall trend appears bearish due to the significant downward movement. Best Entry for Bears: The best entry point for a bearish position would be around the identified resistance level of 2,402 to 2,403.65. Wait for confirmation of resistance holding, such as a bearish candlestick pattern or increased selling volume. Trade Setup Bearish Trade Setup Resistance Area (Supply Order Block): Entry: Around 2,402 to 2,403.65. Stop Loss: Above 2,410. Take Profit: Around 2,377.45 to 2,380. Bullish Trade Setup If you are looking for a counter-trend trade (riskier): Support Area (Demand Order Block): Entry: Around 2,377.45 to 2,380 if there is a clear bullish reversal signal. Stop Loss: Below 2,370. Take Profit: Initial target around 2,402 to 2,403.65. Key Indicators and Confirmation Volume: Look for increased volume at the support/resistance levels to confirm the entry. Candlestick Patterns: Wait for strong reversal patterns like engulfing patterns, pin bars, or hammer/shooting star. Conclusion Best Entry for Bears: Around 2,402 to 2,403.65 (Resistance). Best Entry for Bulls: Around 2,377.45 to 2,380 (Support), but this is riskier due to the current bearish trend.
OANDA:GOLD.PRO.OTMS
by Charl_Van_Zyl