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Consolidation

XAUUSD Awaiting breakout, but not yetGold has is trading within a huge triangle, with a lower trendline support spanning back to 2018 and an upper trendline resistance spanning back to mid 2020, with a good number of clear rejections of these levels from each. Gold has just entered the upper boundary again, coming in with a little momentum this time, with RSI just breaking above 70 on the 4H. I expect to see another rejection in the area of this upper trendline back into the triangle to continue this huge consolidation, but price is getting wound tighter and tighter and may be due for an explosion in the near future. Expect to see a rejection from this level - which could be taken as a good risk/reward short with stop loss above the trendline - and price to squeeze further into the peak of the triangle, at which point we will be primed for a big breakout. Whenever it happens, the breakout of this triangle will be one to watch, and I'll be taking a position intending to following the trend in whichever direction it breaks out with the intention of a medium-term hold, which for me would be approx. 7 - 30 days.
OANDA:XAUUSD
by HayeTrading
20
First Shark Complete! 🦈🦈USDCAD - Nice looking shark here, completed at the .886 but stayed within the downtrend structure. Price is currently ranging but is looking like its going to breakout towards the first profit target the 0.382 (Which is again a very strong demand zone) Here I will also look to take buys if it reaches this level and we get LTF entry confirmation, and if price breaches/retests ill be looking to add more orders in down to the 1.13 D point. Let me know your thoughts! * Disclaimer ** These ideas I never trade until the end target with my initial lots, I focused on high probable entries with higher lots and use a specific partial taking strategy giving me a very high win rate and take most of my profits very early, I only leave a small % of my capital to run the entire trade. On the flip side im constantly monitoring LTF momentum and will close early if things change, these analysis's are for research purposes only.
Short
by benalistarfx
RISKY 10% DOUBLE TOPS TRADE ON THE EURO AUDThis analysis shows the main factors behind the Short Position opened on the EURO AUD. These include 1. The Formation of Double Tops on the Daily Chart. 2. The Formation of a Pennant Setup on the Daily Chart. 3. The expected move towards major Support within 3 Days. 4. The expected move towards the Pennant Support in 7 to 14 Days. The market provided a strong Tweezer Top to indicate the start of U-Turn on the Daily Chart, which would lead to completion of the Double Tops Signal. Once completed, it will take us lower towards a short-term Support that can be used for our first target. Thereafter, we can wait until the market provides us with another setup to trade towards the Support Boundary of the large Pennant Consolidation. Duane Swing Trading Master
Short
by shepherdduane
1
1M Bnb/Usdt - Bearish, consolidation or bull flag?There are many possible scenarios in play with Bnb atm. I still think that in the 1W timeframe it would start the bullish leg to new ATH around 900-1000Usd. But it is still possible that there will be a long consolidation period because monthly Stoch RSI is still going downward. Consolidation last time with the same levels of RSI took 8 months. 20W Moving average is 280usd atm. Do we touch this one before going up? There were lower lows a few months ago so it's still possible we get the higher low by touching MA20 and still get the bullish pattern in the long term. 50W MA is around 125Usd. Actually, Bnb would be bullish in the long term even it would go to that low. Not Financial Advice. Do your own research.
by TraderSpace
1
Sunteck realty positional viewThe stock of Sunteck realty has recently given strong breakout from its ATH levels of around 535. It has given a retest of the breakout level and currently consolidating from past few days. We can see a fresh upmove above 590-595 levels.Also, stock can be accumalated at current price and added on dips upto 535 as Realty sector is expected to perform good in the next 2-3 years This is just for educational purposes and my personal view based on technical analysis.
NSE:SUNTECKLong
by chartistamey
Bitcoin getting ready to make macro trend decisionIt looks as if we've reached the same scenerio as we did last July, where bear market is looming and reversal seems improbable according to the moving average. Looking back at the last cycle, we can see there was less consolidation with a deeper bounce and faster moving bounce. If consolidation continues and the wedge is broken to the upside, likely we will be in a period of extended consolidation as the moving average could negate breaking downtrend high's. So buckle up and relax. We could be in for a wild, or extremely slow ride. Feel free to let me know your trend prediction in a reply below. :)
INDEX:BTCUSD
by scalpedpotato
PEL looks to be breaking out of channel patternPiramal Enterprises Ltd is one of India's largest diversified companies. Its businesses are divided into two verticals i.e. financial services and pharmaceutical business. On short term analysis of chart, a very clear downward moving channel is identified on candlestick chart. Stock has near the upper end of the channel and is also forming triangle pattern. A breakout above the trendline should indicate that price can move towards its ATH price. For options traders, a bull put spread should be a better alternative than call bull spread as movement may be slow.
NSE:PELLong
by Sohamkulkarni
2
$RHI to head higher after breaking out of a tight 3week range?* Great earnings * Very strong up trend * High 3-month relative strength of 1.41 in the Healthcare sector * High U/D volume ratio of 1.51 * Breaking out of a very tight 3 week consolidation of ~3.85% with higher than average volume * If you have access to Volume Profiles you can see that the $113.04 area has tonnes of volume. * We can expect the $113.04 area to serve as support moving forward. Trade Idea: * Looking at the weekly, this seems like a great time to enter as it's recovering from the pull back. * If you are looking for a better entry you can wait for an opportunity around the $113 area as that should serve as support moving forward.
NYSE:RHILong
by HaseebKhan_90
TER will it continue to the up side?* Exceptional earnings * Very strong up trend in the long term * Very high 3-month relative strength of 6.35 in the Tech sector * Pays out dividends * I last discussed this early December 2021 when it broke out of an 11 month base. * Since then it did move higher and due to recent market conditions it had a slight pull back. * Used $163.03 as support before breaking below. * Now it's breaking out of the pull back zone and showing signs of going higher. Trade Idea: * Given the market uncertainty you can wait to see how it behaves next week. * You can enter at today's close * Or if you're looking for a slightly better entry you can look for an opportunity near the $163.03 area. * If you have access to Volume Profiles you can see that the $163 area did receive quite a bit of volume so I would expect it to serve as support moving forward.
NASDAQ:TERLong
by HaseebKhan_90
2
KLAC ready to make new all time highs?* Exceptional earnings quarter over quarter * Incredibly strong up trend over the long term * High 3-month relative strength of 2.87 in the Tech sector * Pays out dividends * Breaking out of a base on base pattern * First base lasted ~8 months before breaking out * Second base formed immediately after the breakout and has been forming for the past ~9 weeks * Current week is also forming a bullish engulfing candle * It did try and break out of the second base earlier but due to current market conditions it had a slight pull back. * Now it's breaking out for the second time with higher than average volume. Trade Idea: * You can enter now at today's close as a starter position if you want to stay in the market and set a closer target.
NASDAQ:KLACLong
by HaseebKhan_90
LITE breaking out of a tight range with higher than average volu* Excellent earnings * Strong up trend in the long term * High 3-month relative strength of 2.61 in the Tech sector * High 50 day U/D ratio of 2.11 * Breaking out of a 3.31% range * During the consolidation the volume did dry up and as it started breaking out the volume picked up. Trade Idea: * You can enter now as the price is just breaking out of the tight range * If you're looking for a better entry you may wait for an entry opportunity near the $105.61 area
NASDAQ:LITELong
by HaseebKhan_90
1
Ford consolidating at higher levels in 22' ? NYSE:F Ford consolidating at higher levels in 22' On top you have the 1hr chart focused on Jan 4-10 Below are the 1 day charts focused on Nov - Dec Take notice of the range Ford is now creating. I believe this is the same pattern we saw Nov-Dec while it consolidated between 19-21 where the market needed time to absorb the new prices levels that hadn't been seen in 20 years Looking for this new range to form at 23-25 Lets see how this ages
NYSE:FLong
by OccamsPhazer