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USDCAD 1:7 RR trade idea The dollar index almost hit a 2 year low but the price reversed only half a percent higher from the said level. After CPI news, the dollar ended its bullish streak, after touching the highs of 2020. For that reason the USDCAD, which has just finished its second bullish leg by the Elliot Wave theory(6 bullish days in a row). Currently looking for a second correction, to what quarterly VWAP high indicates. Looking for a 7% short trade setup(1% risk) targeting 1.365(Quarterly VWAP + 0.382 retarcement) for 100 pips. This analysis is taught and provided by Fractals Trading Community. Trade safely and expect the unexpected, Mei
Short
by martinmei
3
SOL forecasts SOL/USD Technical Analysis 🌐💹 1. Key Resistance Levels: - $260: A major resistance zone. The price has struggled at this level before, and it may act as a significant barrier again in the near future. 🚧 - $290: The next potential resistance target after breaking through $260. If SOL breaks above $260, this level could serve as the next upward target. 🎯 - $220: An intermediate resistance level between $122 and $260. This could be the first major hurdle for any upward movement. 📈 2. Key Support Levels: - $122: A strong support area that has held up well in previous price movements. If SOL faces downward pressure, this could be a key level to watch. 🛡️ - $77.81: Another crucial support zone that could prevent further declines if the price drops below $122. 🔑 - $27.06: The final strong support zone; this level is critical as the last defense before a potential significant drop. 📉 3. Potential Scenarios: - Bullish Case: If the price breaks through the $220 resistance, a move toward $260 and then potentially $290 could follow. A strong breakout above $290 would signal a major uptrend. 🚀 - Bearish Case: If the price fails to hold above $122, SOL could drop toward $77.81, with the $27.06 level acting as a crucial floor if bearish momentum continues. 🔻 Overall, the price is currently consolidating around $140.68, and traders should watch for breakouts or breakdowns from these key levels to determine the next major move.
COINBASE:SOLUSD
by ahmadarz
2
XAUUSD 10/8/24💡 Outlook: Gold has been breaking bearish inside this Daily impulse range on our 5hr time frame and is below the EMAs. In order for me to look for longs I want to see price on the 5hr time frame to show an impulse above the EMAs and break a previous high that is showing supply. I want price then to correct into the 10 and 20 EMAs so that I am able to scale down to the 30m time frame, Until then I am waiting for the 5hr to align with our Daily time frame. Bias: Neutral, Gold needs time to show conviction on our 5hr time frame to sync with our Daily and Weekly. WAITING.
OANDA:XAUUSD
by angelvalentinx
NAS100💹 Outlook: Starting with the Daily we have been accumulating and breaking bullish on our Daily time frame. Price has started to Re-accumulate below the 10 and 20 ema showing a valid correction on the Daily. Scaling down to our 5hr time frame NAS100 has been breaking above the 10ema and 20ema and showed a valid impulse last week on Friday. However, price is currently over extended on the 5hr and need to see a valid correction into the 10ema and 20ema before scaling down to my 30m time frame. Bias: Bullish but needs to re-accumulate and correct this week before continuing.
OANDA:NAS100USDLong
by angelvalentinx
Why I'm Going Short on USDCAD: Analyzing Market ConditionsKey Reasons for a Bearish Outlook 1. Economic Differences: The U.S. economy is doing well, showing strong growth, while Canada’s economy is struggling. This usually strengthens the U.S. dollar against the Canadian dollar. 2. Oil Prices: Canada’s currency is closely tied to oil prices. If oil prices stabilize or drop, it could weaken the Canadian dollar further, especially since Canada’s economy isn’t performing well. 3. Central Bank Policies: The U.S. Federal Reserve might lower interest rates, which could attract more investment into the U.S. dollar. Meanwhile, the Bank of Canada is likely to stay cautious due to weak economic data. Given these factors, I believe there’s a good chance for USDCAD to move lower. I’ll be using probabilities to guide my short positions and manage risk effectively. Feel free to share your thoughts and ideas in the comments below! 12M: On the 12M timeframe, there is insufficient data available. Therefore, we will move to lower monthly timeframes to identify a valid range and look for FB mitigation. 1M: 1D: 1H:
Short
by Jasminex1x2
The Alt token market (TOTAL 3)This is one of those charts that does not need a huge amount of explanation. It is a 5 day chart comparing October 2020 (prior to the bull run that followed over the next 6 months). There are many fractals with that time and the present day. 1) Notice the life cross? Green arrows. 2) Notice the 5-day/200.sma resistance before the breakout? Red arrows? 3) Following the breakout price action in October 2020 the candle body closes were exactly 22% above the life cross and never closed lower just as it is today. 4) This idea is a continuation of the “Total 3 market capital to 10x” idea (below) that was published in July 2023. The bull flag informs us there remains another 500-600% return. Some still think is this a bear market. What gives? 5) Just as it was written in the first idea, “It is not my expectation for legacy tokens to participate in this bull market”. Hear this raw. LTC, DASH, MATIC, XRP, you name it, the big legacy market capital tokens are not participating in this bull market. Receive many messages explaining with this point of view is “wrong” despite the lacklustre price action. Remember, emotions are a Maccy D’s recruitment tool, I mean emotions are a money killer. 6) There’s a whole bunch of other fractal info shared elsewhere but the overall picture is well presented here. The next 6 months will transfer wealth for those with a plan. Ww Total 3 market capital to 10x
CRYPTOCAP:TOTAL3Long
by without_worries
16