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Lingrid | AVAXUSDT key Support Signals Potential ReversalThe price perfectly fulfilled my previous idea. It hit the target level. As you've observed, BINANCE:AVAXUSDT has reached the resistance level and subsequently pulled back with bearish momentum. The price is now approaching the channel border, which has served as support multiple times in the past. This sets the stage for a potential reversal. The presence of the round number 23.00 below adds another layer of significance to this support area. The 50% Fibonacci retracement level is also an important factor to consider, as it can often act as a endpoint for corrections in a prevailing trend. Given these conditions, I anticipate potential rejection patterns at this support zone, such as a long-tailed bar or an engulfing candle. These price action signals would indicate a strong buyer interest at this level and could reinforce a bullish outlook if confirmed. My target is resistance around 26.55 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Long
by Lingrid
1
Lingrid | USDJPY trend CONTINUATION tradeThe price perfectly fulfilled my last idea. FX:USDJPY has recently experienced a significant bearish move, followed by a pullback, and it appears to be continuing its downward trajectory in line with the major trend. The price action has bounced off a support level and is now heading towards a resistance zone. The triangle pattern indicates a period of consolidation before a breakout, and given the context of this trend, it’s likely that the market may retest the middle of this formation, specifically around the psychological level of 146.000. Therefore, I expect that once the market approaches this confluence area near 146.000, it may struggle to break through and could potentially reverse, continuing its downward movement. My target is a support level at 144.355 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Short
by Lingrid
4
Lingrid | NOTUSDT potential REBOUND Amid Durov's SituationBINANCE:NOTUSDT is currently heading toward a support level following the breakout of a consolidation zone. The price experienced a significant sell-off after the arrest of Pavel Durov in France. In my view, the market is likely to break through this support and move lower toward the buying area situated between 0.00750 and 0.00650, where we could then anticipate a rebound. The price action appears to be setting up for a potential liquidity grab below the previous low, which could coincide with Durov's release from arrest—an event that would likely have a positive impact on the market sentiment. Additionally, on the weekly timeframe, the market is approaching a demand zone where we previously witnessed a substantial surge in price. This alignment of factors suggests that if the price does reach the 0.00750 to 0.00650 range, there may be a good opportunity for buyers to enter the market with potential for upward movement thereafter. It will be crucial to keep an eye on the key events surrounding Durov's situation as they could heavily influence market dynamics. My target is resistance zone around 0.01110 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Long
by Lingrid
3
Lingrid | BITCOIN Leveraging the TRIANGLE PatternBINANCE:BTCUSDT has broken and closed above the triangle pattern, which is typically a trend continuation pattern. On the daily timeframe, nothing has fundamentally changed; the price simply bounced off the bottom of the consolidation zone. If you observe, there was accumulation around the 60,000 level, and the price may pull back toward this zone, bounce off then move up. I believe the market is in the process of creating the second extension leg of the triangle pattern. Additionally, on the weekly timeframe, the price has broken through the inside bar pattern, which is also a bullish sign. My target is resistance zone around 69,000 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Long
by Lingrid
6
Identifying Market Correction EndpointsCorrection or trend? How deep is the correction if it exists? When can we expect a reversal? These are common questions among traders who utilize trend strategies. The foundation of trend trading systems rests on the understanding that a trend can become 'exhausted.' Prices cannot rise indefinitely nor plummet to zero. Unlike stocks, currency pairs operate within ranges established by central banks, leading to frequent reversals and corrections. Corrections differ from trends in both depth and duration. If the price retraces more than one-third of the previous trend's length after a reversal, it is often considered the beginning of a new trend rather than a mere correction, which is the basis for counter-trend strategies. However, local corrections can occur, enabling the trend to continue. Entering the market at the end of a correction allows traders to secure positions at optimal prices, which is the essence of swing trading. 📍 METHODS FOR DETERMINING THE END OF A CORRECTION 1. BY PATTERNS. This straightforward and logical approach relies on market psychology. As a trend ascends, more buyers enter the market. When news prompts some to sell, a correction occurs, causing temporary price declines. However, buyers often see this as a chance to purchase at lower prices. A key indicator of the end of this correction is a candle with a small body and a long downward wick, suggesting that selling pressure has subsided and buyers are stepping back in. 2. BY CANDLE BODY SIZE. The size of candle bodies reflects price movement. When candle bodies decrease in size during a correction, it indicates waning interest in the asset. In an upward trend that turns bearish, if the correction shows small candle bodies, it likely signals a recovery of the trend. Conversely, during a downtrend, large downward candlesticks signify strong selling, while small bodies during corrections suggest minimal price movement. 3. CHANGE IN TRADING VOLUMES. Similar to the analysis of candle bodies, observing changes in trading volumes can signal the end of a correction. A decline in volume may indicate that the correction is over. However, a limitation of this method in Forex trading is the absence of aggregated volume data, necessitating reliance on indicators that may show tick volumes or specific broker volumes. 4. FIBONACCI LEVELS. Based on mathematical concepts, Fibonacci levels help identify potential retracement points. The end of a correction is most likely to occur at the first or second Fibonacci level after a reversal. If the price retraces to the 50% level, it often indicates the potential continuation of the initial trend. 5. TECHNICAL INDICATORS. Technical indicators, particularly oscillators like the Stochastic and Relative Strength Index (RSI), can be valuable tools for identifying the end of a correction. When these oscillators reach overbought or oversold territories and subsequently reverse their direction, it often signals that the correction has concluded, indicating a potential resumption of the original trend. 6. FUNDAMENTAL FACTORS. Local reversals frequently occur in response to news events. For instance, a cryptocurrency might be on the rise, but negative news—such as a significant fund dumping its holdings or regulatory actions by the SEC—can lead to a temporary price pullback. However, if positive news later arises, it can trigger renewed buying interest, signaling the end of the correction and a potential return to upward momentum. 📍 CONCLUSION In trading, there are no infallible tools for pinpointing trends, corrections, or their respective beginnings and endings. A correction can seamlessly shift into a new trend, while a reversal following a correction may lead to a false breakout. Given these uncertainties, it is prudent to combine multiple analytical tools into a cohesive signal system. By doing so, we can enhance our decision-making process and improve ability to interpret market movements. Additionally, it is essential to test this system against historical price data to ensure its effectiveness and reliability in various market conditions. This comprehensive approach allows us to better navigate the complexities of the market and make more informed trading decisions. Traders, If you liked this educational post🎓, give it a boost 🚀 and drop a comment 📣
Education
by Lingrid
14
Lingrid | BITCOIN Compression Before ExtensionBINANCE:BTCUSDT market has made a strong bounce off a key support level, successfully taking liquidity at the previous month's low. On the daily chart, the market showed choppy price action over the past week, leading to a consolidation phase within a narrow range. Notably, the weekly timeframe has formed an inside bar pattern, indicating potential indecision among traders. If the price breaks and closes above 63,000, this would provide a strong bullish signal that could propel the market towards the next resistance level at 73,000. I believe that the market is likely to continue the upward momentum, particularly if it rejects the previous week's low. On the 1H timeframe, we are observing a classic triangle pattern, suggesting that the price may continue to oscillate within this formation before making a decisive move. My goal is resistance zone at 63,400 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Long
by Lingrid
7
Lingrid | AVAXUSDT shows BULLISH sign. POTENTIAL LongBINANCE:AVAXUSDT has finally broken out of the consolidation zone that has been forming since the beginning of August. On the weekly timeframe, the market displayed an inside bar formation, and the price has now surged above it, which is a bullish sign. Like many altcoins, the market has tested historical lows, and in this case, the price revisited levels from November 2023, where we previously saw a significant price surge from this area. On the 4H timeframe, the price action has also broken through a triangle pattern, signaling the end of an accumulation phase around 20.00 and potential bullish move. I expect the market retest the channel border and upward trendline. My target is resistance zone around 27.50 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Long
by Lingrid
2
Lingrid | EURJPY consolidating MARKET. LongFX:EURJPY has formed a large triangle pattern and has broken through the upward trendline that had been respected multiple times before. On the daily timeframe, we can see that the price was consolidating following a significant sell-off. It is now approaching the support level where a bullish impulse occurred previously. I believe the market will bounce off the bottom of the consolidation zone as well as psychological level at 161.000 and retest the middle of the triangle pattern. My goal is resistance zone around 162.290 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Long
by Lingrid
7
Lingrid | GOLD price ACTION Ahead of POWELL's "Reality CHECK"OANDA:XAUUSD is eagerly awaiting the upcoming speech from Powell, which is sure to have a significant impact on the markets. Overall, the price has bounced back from the area I highlighted in my weekly forecast. Currently, it is trading around the psychological level of 2500, and there is potential for it to push upward toward the next resistance level at 2600. With that said, I anticipate volatility in the market, which could lead to breakouts from the previous day's highs or lows. If Powell hints at a future rate cut, I believe we could easily reach 2550. My target is resistance zone around 2545.000 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
OANDA:XAUUSDLong
by Lingrid
4
Lingrid | EURCAD broke KEY Trendline SUPPORTFX:EURCAD has established a divergence and formed a double top at the resistance zone. It recently broke through a trendline that had been supporting the price for an extended period. This break and subsequent close below the trendline signal a bearish outlook. Additionally, the price bounced off the resistance area, leading to a bearish impulse leg. I anticipate the market will move downward towards the support level, retracing from resistance to test the channel boundary. My goal is to support level at 1.50650 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Short
by Lingrid
6
Lingrid | TONUSDT remains Stagnant in SIDEWAYS MovementOKX:TONUSDT continues to move sideways on the daily timeframe, with the price consolidating above 6.00 and below 7.00. This suggests that the market is in an accumulation phase. On the weekly timeframe, the price remains within the range established in the previous week. It's important to note that the price has broken and closed above the 6.00 level, which has historically acted as a strong support level. Given these conditions, it appears that the market will likely stay within this consolidation zone until August. My target is resistance zone around 7.660 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Long
by Lingrid
3