Lingrid | AUDUSD long from PSYCHOLOGICAL Support LEVEL FX:AUDUSD has moved down to the psychological support level of 0.65000 after breaking below last week's low. At this critical support level, a bullish divergence has occured, coinciding with the lower boundary of the downward channel. As the market approached this significant support level, its descent started to slow, indicating the importance of this area. I believe the market may rebound, as the price has taken liquidity below this round number, suggesting a potential pullback towards resistance. Furthermore, the long-tailed bar on the daily timeframe indicates a false breakout, reinforcing my expectation of an upward movement. My goal is to resistance zone at 0.65980
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Lingrid | ETHUSDT continues to CONSOLIDATE on the DAILYDespite the overall bullish trend observed in the daily timeframes, BINANCE:ETHUSDT continues to move sideways within the range of 2850 to 4000. On the weekly timeframe, we are witnessing a tweezer top setup, which indicates a potential pullback. I anticipate that the market to move toward the bottom of the consolidation zone, forming a two-legged pullback. Each time the price nears the psychological level of 3000, it has consistently taken liquidity below that level before moving upward. Given this setup, I expect the price to retest the round number and then bounce off. My target is the resistance zone at 3350.00
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Hellena | DJI (4H): Long to resistance area 41680 (Wave 5).Dear Colleagues, I believe that the price is still in an upward movement. At the moment, the higher order wave “4” is finishing forming. Either it has finished forming, or it will renew the minimum in the support area of 40071. After that I expect the continuation of the movement in the wave of higher order “5”. So I expect the price at the level of the maximum of the wave “3” 41680.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Lingrid | GOLD Weekly Market OUTLOOKThis past week showed significant volatility, with OANDA:XAUUSD experiencing a sharp decline before recovering by the week's end. The weekly chart shows this movement, featuring a doji candle; the candle's shadows above and below emphasize this volatility, while the small body reflects a lack of directional movement. Notably, the market closed at the level of the June high, signaling that this price level remains important for the market.
On the daily timeframe, we see that the price rebounded from the 2350-2360 range, an area where the price has historically found support. Additionally, this rebound coincided with the 61.8% Fibonacci retracement level, which further reinforces the significance of this price zone. From a weekly perspective, the market appears to be in a consolidation phase, with the week's high and low serving as critical indicators for future price movements. If the price breaks and closes above the PWH, we could anticipate a potential rise toward the 2500 level. Conversely, if the price breaks and closes below the PWL, a retest of the bottom of the consolidation zone could be expected.
Looking ahead, next week is set to be highly volatile, influenced by important economic events such as announcements from the Federal Reserve, Bank of England, and Bank of Japan. These developments are likely to have a substantial impact on market sentiment and direction.
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IRISUSDT(IRISnet) Daily tf Range Updated till 01-08-24IRISUSDT(IRISnet) Daily timeframe range. 0.01593 trying to defend itself but if it stick with low volume it wont last. it tried to break 0.02013 several times but again for low volume and more sellers it failed. PA may stable later after market stables.
Silver- Ready for 35usd A few months ago, I wrote an XAG/USD analysis, predicting that Silver could rise by 10,000 pips to reach 35.
Achieving such a significant target requires patience, and the price won't climb in a straight line. However, my long-term conviction remains unchanged: Silver will likely rise to 35 USD/oz.
But as Keynes said, "In the long run, we are all dead," so let's focus on the short term.
Recently, as shown in the posted chart, Silver broke below horizontal support.
However, after a bullish Pin Bar formation a few days ago, the price reversed strongly and is now trading back at the old support, which has become resistance.
This suggests the possibility of a false break.
At this moment, given the proximity to resistance, a correction is possible. However, this correction should be seen as a good opportunity to buy in anticipation of a false break. Depending on your patience, you could set your target at 30, 32, or my long-term target of 35.
ENPH Enphase Energy Options Ahead of EarningsIf you haven`t sold ENPH after the Double Dop:
Now analyzing the options chain and the chart patterns of ENPH Enphase Energy prior to the earnings report this week,
I would consider purchasing the 115usd strike price Calls with
an expiration date of 2024-7-26,
for a premium of approximately $3.40.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Alikze »» XAUUSD| Wave 3 or C bullish scenario🔍 Technical analysis: Wave 3 or C bullish scenario
- According to the analysis presented in the previous post , in the 1H time frame, a growth has been encountered after creating demand at the bottom of the descending channel.
- At present, according to the momentum and movement after the failure of the supply zone and pullback to the broken structure, the demand has been met again, and this growth can continue in the golden zone of the previous wave up to the specified areas.
- Therefore, the reversal structure in the form of wave C can continue until at least 0.78 of the previous wave of the 2420 range.
💎 In addition, if the green box is broken, the corrective view can continue until the origin of the upward movement.
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OANDA:XAUUSD
Lingrid | GOLD testing PREVIOUS week HIGHThe price perfectly fulfilled my last idea. It hit the target level. OANDA:XAUUSD is currently testing the previous week's high (PWH), where we witnessed a sharp move downward previously. Given the high-impact news scheduled for today, there is a possibility that the market may pull back after testing the PWH. I think that the market could retest the psychological level at 2400 before potentially moving higher. The price action created a small box, indicates that the market is anticipating the upcoming news. Therefore it's essential to exercise caution. Overall, I expect a potential pullback followed by a continuation of the current bullish trend, depending on how the market reacts to the news today. My goal is resistance zone at 2443
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Lingrid | USDJPY strong BEARISH momentumThe price perfectly fulfilled my last idea. It hit the target level. FX:USDJPY has dropped from the resistance level, creating a significant impulse leg following the recent news. Currently, the market is pulling back from the channel border and the support level at 150.00. This pullback presents a trend continuation opportunity, where we can look for a short position after the price retraces. Given that the overall market is in a bearish trend, I anticipate further downward movement after the price tests the resistance. If the market does retest the swap zone, we could see a continuation of the bearish momentum. My goal is support level at 149.200
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Lingrid | XRPUSDT breakout of the COMPRESSION channelThe price perfectly fulfilled my last idea. It hit the target level. BINANCE:XRPUSDT has made higher highs, indicating a bullish trend. Recently, the price formed a triangle pattern—typically a trend continuation pattern—and has broken and closed above it, suggesting a potential upward movement. On the weekly timeframe, the market also broke above the high of the last two weeks. I believe that further bullish momentum is likely, especially since the market has recently bounced off the support level at 0.6000. My target is resistance at 0.7000
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Gold- Ready for 2500Yesterday, XAU/USD broke back above the 2390 technical resistance and the significant 2400 level, closing the day on a strong bullish note at 2410.
This price action suggests that the correction is over and bulls are ready to conquer new highs.
At the time of writing, the price is at 2421, with technical resistance at 2430. Given the recent rise, a correction from that level could occur.
However, it is very risky to sell at this resistance considering the strong bullish momentum.
In my opinion, it is better to wait and buy on dips. An ideal level for buying is around the 2400 zone, but given the strong bullish momentum, the price might not drop that low.
In conclusion, I am looking to buy during corrections trying to time my entries as the market flows.
DCRUSDT(Decred) Daily tf Range Updated till 31-07-24DCRUSDT(Decred) Daily timeframe range. we can see some accumulation here. but its on a critical level, going below 11.81 push it into a more risky zone. it would be good if it can be defended here. depends on how money flows in the market. local resistance at 14.46.
Trading minute impulseOn the minute timeframe of XAUUSD at the moment we have the completion of the impulse formation. If the price continues to move in the direction of the impulse and the support zones do not allow it to overcome the base of the impulse, it may reach the targets 1 and 2. If the price fails to advance in the direction of the momentum and overcomes the support zone at the base of the momentum, it is very likely that the price will move sideways or against the direction of the momentum.
Gold- Higher low in place and back above 2400?In my yesterday's comment, I said that OANDA:XAUUSD could resume its bullish trajectory and buying dips could be a good strategy.
Indeed, during the day XauUsd fell to 2370, however, bulls took control and closed the day at 2383.
At this moment Gold is facing 2390 resistance again, a resistance that now is confluent with the falling trend line and a break above would confirm a higher low in place and a reversal to the upside.
As long as yesterday's low remains intact so is my strategy: buying dips.
Total 3 Analysis & name your altSimilar to Bitcoin, altcoins also began a correction in March.
Although this correction has been steeper, it remains a correction. After breaking below the 600B support, the total altcoin market found support around 500B and is now trading back above 600B, suggesting a false break.
The confluence of falling line resistance and horizontal resistance around 650B indicates that a break above this level should accelerate gains for the total altcoin market and potentially lead to a retest of the previous high.
In a more optimistic scenario, if Bitcoin heads towards 100k, we could even see a 1T market cap for altcoins.
P.S. I see a lot of altcoins with great potential. Would you like me to look into any specific ones for you?
Regards!
Mihai Iacob
Lingrid | DOGEUSDT trend CONTINUATION opportunityBINANCE:DOGEUSDT has formed a triangle pattern, which often acts as a continuation setup in trending markets. The recent test of resistance at 0.14500 followed by a pullback to the support level suggests some consolidation in the market. On the weekly timeframe, the price has bounced off the demand zone, indicating strong buying interest and a potential reversal from lower levels. The series of higher highs and higher closes shows the bullish sentiment and suggests that the bullish trend is intact. If the price bounces off the support zone and the upward trendline, it may provide a solid entry point for a bullish move. A breakout of the triangle formation would further confirm this bullish outlook. My goal is resistance at 0.14400
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Nasdaq could test the broken neck line levelLast week, the Nasdaq broke below the neckline of a head and shoulders (H&S) pattern, which took over a month to form. The price quickly accelerated to the downside, dropping almost 800 points.
However, once the price approached the rising trend line of the channel (a channel that has kept the price elevated for the past nine months), buyers entered the market, and now the Nasdaq 100 is trading back above 19,000.
This recovery could continue in the coming days, and a test of the broken support level is likely.
Looking further ahead to the medium term, if the price reverses from that level and drops below 19,000 once more, a break below the support line of the channel becomes probable, potentially leading to a deep correction.
For now though, as long as 18,700 remains intact, the bulls hold the upper hand.
UsdJpy could test 157,50 zone (250 pips rise)After an impressive 1000-pip drop in two weeks, USD/JPY reversed precisely from an old resistance level, now support at 152.
At this point, we also see a higher low in place, and bulls seem determined to recover lost ground.
In the overall trend, the 1000-pip drop is merely a correction and even if there will be a new leg down toward the important 150 level, a test of the 157.50 zone is probable.
I remain bullish as long as the 152.80-153.00 zone holds intact.
Buying dips below 154 could be a good strategy with a risk-reward ratio of more than 1:3.
CVXUSDT(Convex Finance) Daily tf Range Updated till 30-07-24CVXUSDT(Convex Finance) Daily timeframe range. its on Monitoring state at binance so gotta trade it carefully. now reached very close to 3.649. above it is not that positioned packed zone, depend on retail interest whether it picks up. recent retrace point at 2.731.
AMZN Amazon Options Ahead of EarningsIf you haven`t bought AMZN before the previous earnings:
Now analyzing the options chain and the chart patterns of AMZN Amazon prior to the earnings report this week,
I would consider purchasing the 185usd strike price Calls with
an expiration date of 2024-12-20,
for a premium of approximately $16.90.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
SQ Block Options Ahead of EarningsIf you haven`t sold SQ before the previous earnings:
Now analyzing the options chain and the chart patterns of SQ Block prior to the earnings report this week,
I would consider purchasing the 60usd strike price Puts with
an expiration date of 2024-8-16,
for a premium of approximately $3.72.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Lingrid | EURUSD range BREAKOUT. ShortThe market has been showing sideways movement last week. On the weekly timeframe, FX:EURUSD formed a long-tailed bar, which is often indicative of a potential reversal, followed by a bearish candle. This pattern suggests a possible shift in market sentiment. The price has broken through the important zone at 1.08500, which was a key level. Given this breakout, it is likely that the price will continue to move downward toward the support level at 1.08000. I anticipate that there may be a pullback before the market moves below last week's low, confirming the bearish momentum. Keep an eye on any potential retracement that could provide an entry opportunity. My target is the support level at 1.08050
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