Alikze »» WLD | Continue the downward trend🔍 Technical analysis: Continue the downward trend
- The daily frame time is moving in a descending channel.
- Currently, in the PRZ area, which had a 100 -wave fiber in the previous fiber area.
- If this area is preserved, it can first grow up to the middle of the cannon and then to increase demand to the channel ceiling.
-If the area is exposed to sales pressure, it can extend the corrective structure to fibou 1.618 the previous wave.
💎 Alternative scenario: If it is able to break the line and consolidate it on top of it, the descending channel fails to continue its growth area.
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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.
Lingrid | GBPCAD opportunity to SHORT the MARKETThe price perfectly fulfills my last idea. The market is currently trading near the key resistance level of 1.7500. The price has made lower lows and lower closes, breaking through the previous higher low area. I believe the market will likely move sideways from here. Therefore, I'm looking for the price to test this zone and potentially fall from it if the market makes a fake breakout or a double top with divergence. On the 4H timeframe, the market has formed a couple of long-tailed bars, indicating selling pressure. My target is to support at 1.73675
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
Lingrid | TONUSDT in the CONSOLIDATION zoneOKX:TONUSDT experienced a sharp decline, breaking through the consolidation zone and falling below the support level at 6.8. However, it managed to close above the psychologically important round number at 7.0, which may have triggered some buying interest. The price has now returned to the consolidation zone, creating a spike downwards on the daily timeframe. I expect the market to trade sideways between the 7.0 support level and the 7.7 resistance level. It's likely that the price will consolidate below the double top formation to formed triangle pattern that will show price squeeze before its expansion. My goal is the resistance zone around 7.730
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
Silver Forecast: A Potential 10,000 Pip Surge on the Horizon!I understand the title may seem bombastic and possibly clickbaity, but in my view, there's a solid case for OANDA:XAGUSD potentially rising by $10 in 2024. Here's why:
Observing the chart, unlike OANDA:XAUUSD , Silver has been trading within a range for precisely a year now, failing to establish new highs. However, on a positive note, since the pandemic low, the price has been forming higher and higher bases, suggesting the potential for building upside momentum in the longer term.
From a strictly technical standpoint, as mentioned, we've been stuck in a range for over a year, with a clear resistance level around the $26 zone. If the bulls manage to break above this significant level, considering the one-year-long accumulation, I believe we could witness an explosive rise that might propel Silver to $35, with a potential pit stop at interim resistance around $30.
Bitcoin- Major false break and back to 70k after?Last week, Bitcoin broke below the important 60k support level, which coincides with the neckline of a double top.
However, after an initial drop to the 53k zone, the price quickly recovered, forming a daily pin bar and leaving a double bottom on short-term time frames.
Now, Bitcoin is back in the broken support level zone.
Considering the quick recovery, in my opinion, this will prove to be a false break, not a test and continuation downwards.
I am looking to buy dips against the recent low with a target around 70k.
GbpNzd could rise and test 2.12 resistance (1:3 R:R)Since the beginning of the year, GBP/NZD has been on an upward trajectory, making higher lows and higher highs on the daily chart.
Last week, the pair briefly dropped below support, but this was a false break, strongly reversed by Friday's price action.
Currently, a new higher low seems to be forming.
In my opinion, the pair will continue its upward movement and test the previous high around 2.12.
My strategy is to buy on dips against the recent low, aiming for a 1:3 risk-to-reward ratio.
XauUsd and my bearish scenariosDespite recent fluctuations, my medium-term bearish outlook on gold remains firm.
Last Friday’s NFP report caused a spike that hit my stop loss at 2390, leading me to temporarily exit the market.
My Scenarios:
Rise and Sell:
Gold may rise to test 2400 or higher. If it shows weakness at this level, I'll look for a selling opportunity, targeting a drop back to the support level(around 2300)
Consolidation and Drop:
If gold fails to break above the recent high, I expect a drop to support (2300), marking this new high a strong ceiling level.
Daily Time Frame:
On the daily chart, yesterday’s drop negated the NFP rise, reinforcing my bearish outlook.
If gold rises again above 2400, in my opinion it’s unlikely to hold gains, also suggesting a continuation downward.
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.
Lingrid | AUDCAD long from the SUPPORT levelThe price perfectly fulfills my last idea. It fell from resistance zone and hit the target. FX:AUDCAD is updating its swing highs and higher lows, indicating a strong uptrend. The price broke and confirmed above the range, which formed a clear triangle pattern. Following the impulse move upwards, the price is now pulling back to retest the support level at 0.91600, which has proven significant multiple times in the past. Given this bounce-off support, it's likely that the market will continue moving upwards towards the next resistance level. Therefore, I expect a breakout and retest scenario to unfold. My target is the resistance at 0.92300
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
Lingrid | EURNZD potential PULLBACK tradeThe price perfectly fulfilled my last idea. The 1H chart is showing a strong uptrend, with the FX:EURNZD having recently broken and closed above the psychological level of 1.76000. The price action had previously formed a triangle pattern, which was ultimately broken through. I'm expecting a retest of the support level and the channel border. To confirm a buying signal, I'm looking for a fake breakout of this level. My target is resistance zone at 1.76900
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
Lingrid | BTCUSDT when in Doubt, ZOOM Out. Potential LONGBINANCE:BTCUSDT has dropped recently due to ongoing FUD, which is fueling further selling pressure on the price. However, upon zooming out to the daily timeframe, we can see that the price action is simply consolidating within a specific zone. On the monthly timeframe, it's clear that the price took out liquidity below the last two months' lows and bounced off the lower channel border twice. I believe the price may continue to trade sideways before dropping again towards the support zone around 52,000-53,000. The current price action looks promising, as it's duplicating the pattern from May 1, where we saw two spikes down followed by a bullish reversal, which we're seeing now. I expect the market to retest the channel border and possibly experience another move down before ultimately moving upwards. My mid-term goal is a resistance zone at 61400.00
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
UsdJpy- Don't p..s against the wind!If there has been a clear trend in the past two years, it has been the devaluation of the JPY. Despite some corrections, even very deep ones, the trend has always resumed, leading to new lows for the JPY.
One of these deeper corrections occurred at the end of last year, triggered, as always, by JPY repatriation.
However, as shown on the chart, the beginning of 2024 saw the resumption of the upward move. Only the BoJ intervention at the end of April and beginning of May at the 160 level stopped the ascent.
The chart shows that the pair has been acting very technically since then, with the drop stopping and reversing precisely at the horizontal support that was previously resistance.
Since then, USD/JPY has started making higher lows again and is now trading around 160.
Only time will tell if the BoJ will be determined to defend this level but, in my personal opinion, it is better to look to buy on dips (around 158) rather than sell at this resistance, hoping for another intervention.
XAUUSD **Critical area for gold. **look for this pattern ! whats up gold gang!! a great day on the charts today catching the forecast sells down to the target and the last level for gold to be bullish.
This is a critical level for gold now as if it breaks this level at 2346 and closes below on the 4h .. the bias is bearish.
If we react here and we find the reversal pattern shown on the chart ... then we remain bullish and i want to buy up to 2412 area this week.
that reversal pattern occurs everywhere on the chart, if you can learn it, youll catch reversals much easier.
Lets let asian session let us know where we're going!
catch you in london
tommy
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.
XAUUSD Next moves for gold this weekgood morning gold gang and happy sunday! hope you're resting and doing a bit of backtesting
NFP! wow it whipsawed which we dont normally see ... took my buys out instantly but then i got the continuation to break even thankfully
Price continuing with the trend now leaving some holes to be filled .. i like to see the NFP candle filled in the next week so a move down to take lower buys would be great! .. sells only when confirmation is present.
Above the current zone is nice clean traffic with imbalance so expect a strong move up to the top engulfing marked on the chart
as always we react to price at the time so make sure you follow along for updates!
catch you tomorrow morning in london session
tommy
Alikze »» DOT | 61.8 Fibo retest scenarioAccording to the long-term analysis, the DOT currency is moving in the 1W time frame, which, as mentioned in the updated micro-waves of the previous post, completed a complete cycle in accordance with the path in the range of 11.92.
💎 First scenario: due to the recent three-wave correction and support in an important PRZ area, an upward corrective movement is currently underway, which is currently stopped at the 0.618 area. Therefore, if this X wave is not upward and after the completion of the correction log until the liquidity zone or PRZ leads to the failure of the zone and the daily candle is closed above it, it can continue the movement until the specified resistance PRZ zone. to give
💎 Second scenario: If the support PRZ area is broken, this can lead to a continuing corrective lag and a combined correction and correct the whole wave up to 0.23.
If the behavior and structure of the post changes, it will be updated.
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Lingrid | SOLUSDT long from the DEMAND areaBINANCE:SOLUSDT price has entered a consolidation phase after a significant bullish move, oscillating between 160.00 and 120.00. Given the classic trading strategy of buying at the bottom and selling at the top of the pattern, it's logical to anticipate a buy opportunity at the lower end of this range. Notably, the market has already reacted to the key support level at 120.00, with multiple rejection candles forming as it bounces off this level. I expect the price to retest this key level again before potentially moving upwards by taking liquidity below the equal lows. My target is resistance zone around 157.40
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
Gold could test above 2400 once moreThe 2290 zone has proven to be very strong support for gold and bulls regained control from that area.
Last week, XAU/USD continued its ascent, and Friday's NFP brought a new rise, breaking above the 2365-2370 resistance zone and closing the week at 2391.
Currently, the structure is bullish with confluence support at 2365. Although I don't foresee sustained gains above 2400 in the medium term, a new test of levels above this important threshold is likely in the near term.
Short-term traders could consider buying dips near the support, with invalidation below Friday's low.
Alikze »» MATIC | Elliott Triangle pattern scenarioAccording to the previous analysis, the Metic currency went through an upward movement cycle. Currently, it is in a corner pattern in the weekly time, which was able to escape from it in the specified supply area with a short-term movement cycle.
💎 Currently, it has a corrective cycle up to the green box, which has moved downwards in a three-wave step in daily time.
💎 But now it can enter an upward cycle and retest the first supply area after confirming the green box. If confirmed, the area of upward movement can continue to extend to the base of the pattern, which can be checked further.
💎 Therefore, this upward movement can be followed in the form of wave 3 or 3 larger up to the specified areas.
💎 Alternative scenario: If the green box area is broken, this correction can be a combination correction that will have the ability to reach the 0.39 range.
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Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future.
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