BINANCE:BTCUSDT.P Channel - Go with the break.The BINANCE:BTCUSDT.P has formed a channel. Go in the direction of break.
OR
Hedge at opposite extremes and cover at break then ride the break.
; )
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Dailychart
PreLondon Friday analysis☝️Do not act based on my analysis, do your own research!!
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☝️ALL videos here are for sharing my experience purposes only, not financial advice, NOT A SIGNAL. YOUR TRADES ARE YOUR COMPLETE RESPONSIBILITY. Everything here should be treated as a simulated, educational environment. Important disclaimer - this idea is just a possibility and my extremely subjective opinion. Do not act based on my analysis, do your own research!!
BTC/USDT 4HInterval CHART ReviewHello everyone, let's take a look at the BTC to USDT chart on a 4-hour time frame. As you can see, the price rebounded from the lower border of the downtrend channel.
Let's start by determining the support line and as you can see, the first support in the near future is $57,035, which kept the price from a major correction, if the support is broken, the next support is $54,139.
Now let's move on to the resistance line, as you can see the first resistance is $59,506 which we are currently fighting, if you manage to break it, the next resistance will be at $61,380, the third at $62,658 and the fourth at $64,334.
Looking at the RSI indicator, there is a rebound, but there is still room for the price to go higher, while the STOCH indicator is also near the middle of the range, which potentially gives room for the price to go up even further.
Quant appears to b on the verge of validating an invh&s breakoutNo guarantee it ont go back below the neckline once or even twice or thrice before the real breakout as such things are common, however it definitely looks like this current breach above the enckline could be the one that ends up validating. The breakout target once it validates is $171. *not financial advice*
Caught Between The Gaps...Which one to fill first with earnings in 2 weeks?
The bottom one from a weekly chart? Or the top one from the daily chart about 2 months ago?
Gold just made a big splash above this key pink trendlineXAUUSD made a big splash and just got a new ath recently as it broke above this pink horizontal trendline for the first time. We can see since then it has created a big bear wick however so not so sure it will be able to maintain this pink trendline as solidified support or not. Once it eventually does hod this pink trendline as solidified support for a weekly candle or 3, that should likely be enough to trigger the breakout from this trendline…at that point the target gets pretty bullish. A correction would not surprise me if this big bearwick on the current candle closes as such but for the medium turn I would say gold is having some very bullish developments here. We can also see the recent death cross threat has been confirmed a fakeout and quickly reversed back into the golden cross formation…a great sign for prolonging its bull cycle. *not financial advice*
🛢 CL OIL, H4 🛢 27 March 2024🛢 CL OIL, H4 🛢 27 March 2024
Crude oil prices retreated from significant resistance levels as market sentiment remained tepid ahead of key events. Investors opted to shed high-risk commodities amidst lingering uncertainties. However, losses were tempered by concerns over potential supply disruptions, notably after Russia's directive to companies to curtail output in line with OPEC+ commitments. With US crude inventories registering a significant uptick, attention shifts to the upcoming EIA Oil inventories release and broader economic performance for crucial trading cues.
Oil prices are trading lower following the prior retracement from the resistance level. Suggesting the commodity might extend its losses toward support level.
Resistance level: 82.85, 84.10📉
Support level: 80.20, 78.00📈
DOLLAR_INDX,DXY H4 27 March 2024💵 DOLLAR_INDX, H4 💵 27 March 2024
The Dollar Index, tracking against a basket of major currencies, held firm amidst a wait-and-see sentiment among investors. With anticipation mounting for the release of the PCE Price Index data crucial for gauging inflation and scheduled for Good Friday, market movement is expected to remain subdued. Despite the holiday, Top Fed officials, including Chair Jerome Powell and Mary Daly, are slated to provide insights, setting the stage for potential market shifts. Traders are advised to stay vigilant and strategize as economic data released over the weekend could spur heightened volatility come Monday.
The Dollar Index is trading higher while currently testing the resistance level. Suggesting the index might extend its gains after breakout .
Resistance level: 104.45, 104.95📉
Support level:104.00, 103.65📈
🛢 CL OIL H4 🛢 25 March 2024🛢 CL OIL, H4 🛢 25 March 2024
Crude oil prices witnessed a slight retreat amidst optimism surrounding potential ceasefire
negotiations between Israel and Hamas. US Secretary of State Antony Blinken's remarks, indicating progress in talks held in Qatar aimed at reaching a ceasefire agreement for Gaza, tempered concerns over oil supply disruptions. This development, coupled with the potential alleviation of geopolitical tensions, contributed to the easing of fears in the oil market.
Oil prices are trading lower while currently testing the support level. Suggesting the commodity might experience technical corrections.
Resistance level: 82.85, 84.10📉
Support level: 80.20, 78.00📈
GBPUSD H4 25 March 2024GBP/USD, H4 25 March 2024
The GBP/USD currency pair is exhibiting sustained bullish momentum, currently hovering near the 1.2600 level as the market anticipates further developments. Revisions in market expectations regarding a potential Federal Reserve rate cut in 2024 have emerged due to ongoing inflationary pressures in the U.S., contributing to the strengthening of the dollar. Additionally, traders are closely monitoring the upcoming release of the UK's GDP data on Thursday, which is expected to provide insights into the economic health of the UK and its potential impact on the strength of the Sterling.
GBP/USD continues to trade with strong bearish momentum despite recording a slight rebound at near 1.2600 levels. Suggesting that the bearish momentum remains strong.
Resistance level: 1.2630, 1.2710📉
Support level: 1.2530, 1.2440📈
XAUUSD H4 25 March 2024🔖XAU/USD, H4🔖 25 March 2024
Gold prices experienced a downturn as the robust US Dollar continued to dampen the appeal of
non-yielding assets such as gold. The resurgence of the Dollar, particularly following signals from
several major central banks, including the Swiss National Bank, hinting at potential rate cuts in 2024, weighed heavily on the precious metal market. Despite dovish sentiments expressed by some Fed members regarding rate cuts, the recent outperformance of the US economy could cloud the outlook for gold prices.
Gold prices are trading lower while currently testing the support level. Suggesting the commodity might experience
technical correction.
Resistance level: 2240.00, 2315.00📉
Support level: 2150.00, 2080.00📈
Potential continuation of the short on ETHOn ETH, similarly to Bitcoin, a deeper descent is also appropriate, the lower green zone is a potential rebound and the end of the correction. There is also a 30% descent from the local peak.
Currently, ETH has dropped by over 20%. However, the third zone would give a decrease of approximately 40%.
There is still room for another decline on the RSI, while on the STOCH indicator there is a visible upward movement that has encountered resistance lines, which may reverse the movement again.
Leave a comment if you like the analysis, I wish you fruitful shopping ;)
🛢 CL OIL, H4 🛢 20 March 2024🛢 CL OIL, H4 🛢 20 March 2024
Crude oil prices extended gains, reaching multi-month highs for the second consecutive session,
driven by rising geopolitical tensions, notably recent attacks by Ukraine on Russian refineries.
Concerns over supply disruptions intensified as the attacks targeted a significant portion of Russian refining capacity, leading to the shutdown of approximately 7% of daily refining output. The escalating conflict underscores the volatile nature of global oil markets and highlights the potential for further price fluctuations.
Oil prices are trading higher while currently testing the resistance level. Suggesting the commodity might experience technical correction since the RSI entered the overbought territory.
Resistance level: 82.85, 84.10📉
Support level: 80.20, 78.00📈
AUDUSD H4 20 March 2024AUD/USD, H4 20 March 2024
The AUD/USD pair remains under pressure, approaching its lowest level in March. Following the
Reserve Bank of Australia's (RBA) interest rate decision, which met market expectations by
maintaining rates at 4.35%, the Australian dollar experienced further weakness. This was
exacerbated by comments from the RBA governor indicating that the central bank has concluded its monetary tightening program. Such a dovish tone from the Antipodean central bank contributed to the decline in the Australian dollar.
The AUD/USD pair recorded a minor rebound after a significant plunge yesterday. Suggesting that the bearish momentum remains strong.
Resistance level:0.6576, 0.6617📉
Support level: 0.6484, 0.6450📈
USDJPY H4 20 March 2024USD/JPY, H4 20 March 2024
The Japanese yen faced significant downward pressure, tumbling to a four-month low, even as the Bank of Japan announced the end of its negative interest rate policy and quantitative easing
measures. Market participants, having already factored in the policy change, engaged in profit-taking, leading to a sharp decline of over 1% in the yen's value. However, the possibility of further monetary policy tightening by the BOJ in response to persistent high inflation could offer
support to the yen in the future, warranting continued vigilance among investors for trading cues.
USD/JPY is trading higher following the prior breakout above the previous resistance level. Suggesting the pair might enter overbought territory.
Resistance level: 151.95, 153.10📉
Support level: 150.80, 149.35📈
EURUSD H4 20 March 2024EUR/USD, H4 20 March 2024
The EUR/USD pair has recovered from its lowest point in March, ahead of the critical Federal Open Market Committee (FOMC) interest rate decision. A hawkish stance from the Fed could place additional downward pressure on the pair. Nonetheless, the pair has been supported by encouraging data from the ZEW Economic Sentiment Index, which recorded a value of 33.5, surpassing the previous figure of 25. This indicates an optimistic economic outlook within the eurozone economies.
EUR/USD remains trading in a descending trajectory despite a technical rebound. Suggests the pair remain trading with bearish momentum.
Resistance level: 1.0960, 1.1040📉
Support level: 1.0775, 1.0700📈
🔖XAUUSD H4🔖 20 March 2024🔖XAU/USD, H4🔖 20 March 2024
Better-than-expected inflation data from the US prompted expectations of a hawkish tone from the Federal Reserve during its interest rate decision. Consequently, US Treasury yields climbed alongside the dollar, triggering a selloff in non-yielding assets like gold. Despite this, gold may consolidate within a range ahead of key events, with investors advised to monitor closely for further trading signals, particularly from the Fed's monetary policy decisions.
Gold prices are trading lower while currently testing the support level. Suggesting the commodity might extend its losses after breakout.
Resistance level: 2150.00, 2235.00📉
Support level: 2080.00, 2035.00📈
Propy validating an inverse head and shoulder breakoutIt almost feels like it might head for the full target while the majority of the market is correcting here. *not financial advice*
XAUUSD H4 18 March 2024🔖XAU/USD, H4🔖 18 March 2024
Gold prices declined as the US Dollar appreciated and US Treasury yields rose, dampening demand for non-yielding assets like gold. Better-than-expected economic data from the US signalled expectations of more hawkish policies from the Federal Reserve, further weighing on gold demand. Investors are closely monitoring monetary policy decisions for trading signals amid shifting market dynamics.
Gold prices are trading lower while currently testing the support level. Suggesting the commodity might extend its losses after breakout.
Resistance level: 2150.00, 2235.00📉
Support level: 2080.00, 2035.00📈
DOLLAR_INDX,DXY H4 18 March 2024💵 DOLLAR_INDX, H4 💵 18 March 2024
The Dollar index strengthened against major currencies in anticipation of the Federal Open Market Committee's (FOMC) monetary policy decisions. Last week's higher-than-expected US producer and consumer price indexes raised hopes for a hawkish stance from the Federal Reserve. All eyes are on the Fed meeting for clues on the central bank's outlook for rate cuts.
The Dollar Index is trading higher following the prior breakout above the previous resistance level. Suggesting the index might enter overbought territory.
Resistance level: 103.75, 104.50📉
Support level:103.05, 102.40📈
XAUUSD H4 15 March 2024🔖XAU/USD, H4🔖 15 March 2024
Gold prices extended losses and consolidated around after reaching record highs. Investors opted for profit-taking strategies while awaiting further catalysts before re-entering the market. Improved inflation data raised expectations for the Federal Reserve to delay rate cut policies, potentiallyn impacting non-yielding commodities like gold.
Gold prices are trading lower following the prior retracement from the resistance level. Suggesting the commodity might enter overbought territory.
Resistance level: 2175.00, 2265.00📉
Support level: 2100.00, 2050.00📈
DOLLAR_INDX,DXY H4 15 March 2024💵 DOLLAR_INDX, H4 💵 15 March 2024
The Dollar Index, tracking the greenback against a basket of major currencies, rebounded on the heels of better-than-expected inflation figures. The robust data prompted heightened expectations of rising interest rates, leading to a resurgence in US Treasury yields. According to the US Bureau of Labor Statistics, the Producer Price Index (PPI) for the previous month saw a significant increase from 0.30% to 0.60%, surpassing market forecasts of 0.30%. Additionally, Initial Jobless Claims reported by the Department of Labor came in at 209K, better than the expected 218K, signalling continued
strength in the labour market.
The Dollar Index is trading higher following the prior breakout above the previous resistance level. Suggesting the index might enter overbought territory.
Resistance level: 103.75, 104.50📉
Support level:103.05, 102.40📈
🛢 CL OIL H4 🛢 14 March 2024🛢 CL OIL, H4 🛢 14 March 2024
Crude oil prices climbed higher following better-than-expected inventory reports, with US Crude oil inventories declining more than anticipated according to Energy Information Administration (EIA) data. Investors await the International Energy Agency's monthly report for further insights into supply and demand dynamics, following OPEC's latest forecast.
Oil prices are trading higher while currently testing the resistance level. Suggesting the commodity might extend its gains after breakout.
Resistance level: 80.20, 84.10📉
Support level: 78.00, 75.95📈
