Get started

Trendlineanalysis

Gold Faces Critical Resistance: Will the Bull Run Continue?Chart Overview Timeframe: 1-hour chart Exchange: OANDA Current Price: 2444.100 Key Levels and Zones 4HR LQZ: 2474.524 1HR LQZ: 2370.122 Support Level: 2348.660 Key Low: 2287.754 Patterns and Channels Descending Channel: The price moved within a descending channel before breaking out. Lower Highs (LH) and Lower Lows (LL) formed within this channel. Ascending Channel: The price moved into an ascending channel after breaking out of the descending channel. Higher Lows (HL) and Higher Highs (HH) are visible, indicating a potential upward trend. Current Price Action Recent Higher High (HH): Price reached a higher high at the top of the ascending channel. Potential Lower High: There is a possibility of forming a new lower high, as indicated by the recent price action near the 4HR LQZ. Rejection at 4HR LQZ: The price touched the 4HR LQZ and showed signs of rejection, pulling back slightly. Inset Chart: DXY The inset chart displays the DXY (US Dollar Index), which shows a descending pattern, potentially indicating USD weakness. This is relevant because gold often inversely correlates with the USD. Market Sentiment Bullish Signs: The breakout from the descending channel. Formation of the ascending channel with higher highs and higher lows. Bearish Signs: Rejection at the 4HR LQZ. Potential formation of a new lower high, indicating possible weakness or a reversal in the uptrend. Summary The XAUUSD chart shows a recent breakout from a descending channel and the formation of an ascending channel, suggesting a short-term bullish trend. However, the price faced rejection at the 4HR LQZ and is showing signs of forming a potential new lower high, which could indicate a reversal or consolidation phase. Monitoring key levels and market sentiment (especially USD movements) will be crucial for future price action.
OANDA:XAUUSD
by Adlercon333
NZD/JPY Daily setupThe NZD/JPY pair has fallen by 920 pips over the past 15 days. Such a significant and sustained decline is unlikely to continue indefinitely without a corrective pullback. Currently, the price has halted its downward momentum and is beginning to reverse near my key area of interest. Key Confluences: The pair is rebounding off a descending trend line that has been in place since November 2023. It is also bouncing off an ascending trend line that has been in place since August 2023. The price is reacting to the 0.786 Fibonacci retracement level. It is rejecting the significant psychological level of 90.000. Market Structure The JPY basket has reached a resistance level and is starting to decline. These factors suggest a potential reversal or correction in the NZD/JPY pair. NZD/JPY 4hr TF Has currently closed on the 4 hour TF nicely I expect NZD/JPY to start having an healthy pull back. JPY Basket weekly TF Is currently reacting off my area of interest I expect price to start moving lower. JPY Basket Daily TF JPY Basket 4hr TF
Long
by ChartStrategist
2
Gold 4hr setup Gold is presently experiencing a bearish trend, characterized by a pattern of lower highs and lower lows since peaking at 2484.14. I anticipate that gold will encounter resistance at the temporary rejection level before declining further. Subsequently, I expect it to rebound and ascend to my target area, which is approximately between 2400 and 2402.02. Confluences supporting this analysis include: A downward trendline indicating a continuation of the bearish trend. An upward trendline suggesting a potential reversal point. A rejection zone between 2400 and 2402.02, which is a significant area of interest. The round number of 2,400, often a psychological level in trading. The 0.618 Fibonacci retracement level Market structure. Expectations of the US Dollar strengthening. Gold Daily Dollar Index Silver
TVC:GOLDShort
by ChartStrategist
2
Bitcoin - When will we see the breakout?BITSTAMP:BTCUSD is preparing its most bullish breakout of the entire trading history! After a couple years of trading experiences, you will simply stop paying attention to your emotions. Looking at the chart of Bitcoin objectively, you can see that everything is still incredibly bullish. Despite the hesitancy at the previous all time high, Bitcoin is also not rejecting it towards the downside. Eventually, we will just see a monstrous bullish breakout. Levels to watch: $70.000 Keep your long term vision, Philip - BasicTrading
BITSTAMP:BTCUSDLong
by basictradingtv
6
Nvidia - The tide is (finally) turning!NASDAQ:NVDA is about to create a bearish reversal which will lead to a -60% correction! Charts just don't lie at all - instead fundamentals are always an illusion. Nvidia was retesting a major resistance trendline and is starting a significant bearish reversal. Nothing changed fundamentally but Nvidia is already down -25% over the past couple of days. This is just the beginning of another potential bear market, like we saw it back in 2018 and 2021... Levels to watch: $55 Keep your long term vision, Philip - BasicTrading
NASDAQ:NVDAShort
by basictradingtv
6
SMCI: The Next Major Inflection Point! (D&W charts)On the daily chart, the stock experienced a notable downward breakout, moving sharply below a confluence of trendlines that had previously served as support. This breakout is significant as it suggests a strong bearish momentum, possibly indicating a shift in investor sentiment. The price is below the 21-day EMA, and there is no bottom signal on it yet. In our previous public SMCI analysis, I warned you about this trend line, as a downwards breakout would frustrate any possibility of a bullish thesis, mid-term speaking. The link to our previous study, here on TradingView, is below this post. Transitioning to the weekly chart provides a broader perspective, showing the stock's performance over a longer timeframe. Here, the 61.8% Fibonacci retracement level stands out as the next significant support level following the recent declines. This specific Fibonacci level is often watched by traders for potential reversal zones and could act as a strong area of interest for buying activities if prices were to reach this point. The weekly chart also underscores a general downtrend after failing to maintain higher levels, which aligns with the bearish sentiment observed on the daily chart. The consistency of lower highs further emphasizes the pressure on the stock. Overall, the convergence of these technical factors across different timeframes suggests that SMCI may face continued downward pressure in the near term, with crucial support at the 61.8% Fibonacci level possibly serving as a pivotal area for the stock's next directional moves. For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions. Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation. “To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore All the best, Nathan.
NASDAQ:SMCI
by Nathan_The_Finance_Hydra
2
Microsoft - We still have to be patient...NASDAQ:MSFT dropped after reporting earnings and can now create a short term correction! Simplicity is key, also when it comes to trading the higher timeframes on stocks. All you need are three lines in order to fully understand the trading history and also future of Microsoft. If we get a retest of the triangle breakout level, which is perfectly lining up with the rising trendline, a bullish continuation will be quite expected. Just wait for confirmation first though! Levels to watch: $350 Keep your long term vision, Philip - BasicTrading
NASDAQ:MSFTShort
by basictradingtv
USOIL ( BREAKOUT DEMAND ZONE ) (4H)USOIL HELLO TRADERS Tendency , the price is under bearish pressure , after breakout demand zone . TURNING LEVEL : the price of turning level around 76.96 , until the price trading below this level reach a support level (1) , but if the price breaking this level reach resistance level (1) . RESISTANCE LEVEL (1) : this level around 80.49 , for reach this resistance the price it will be breaking turning level . RESISTANCE LEVEL (2) : around 82.83 , for reach this level it will be breaking by open 4h or 1h candle above resistance level (1) SUPPORT LEVEL (1) : as long the price trading below turning level reach this level around 75.05. SUPPORT LEVEL (2) : this level around 72.46, for reach this level the price will be breaking by open 1h or 4h candle below support level (1) . CORRECTIVE : the price may be corrective turning level at 76.96 , before drooping . TARGET LEVEL : RESISTANCE LEVEL : 80.49 , 82.83 . SUPPORT LEVEL : 75.05 ,72.46 .
TVC:USOILShort
by ArinaKarayi
Apple - Back to no.1 in the world!NASDAQ:AAPL is back to being no.1 in the world after rallying 11% in two days. After moving higher +25% over the past two months, Apple is now back to being the most valuable company in the world with a market cap of 3.4 trillion dollars. This means that Apple is now back to leading the indices but Apple is also retesting resistance. A pullback is definitely likely considering that trees do not grow to the sky, but the overall trend is simply clearly bullish! Levels to watch: $170, $215 Keep your long term vision, Philip - BasicTrading
NASDAQ:AAPLShort
by basictradingtv
12
240729 Weekly OutlookThe following week have major data release including, 240730 Tue CB Consumer Confidence **** 240731 Wed Fed Interest Rate Decision ***** 240801 Thu Initial Jobless Claims **** 240801 Fri Nonfarm Payrolls ***** Unemployment Rate ***** Consumer Confidence is the major leading indicator alongside Michigan Consumer index. Investors should follow the rise of two indexes to lead increase in economic data like inflation, GDP, labor market conditions, as well as economic conditions. Fed rate is expected to remain unchanged, while market discounting the first cut in the cycle to come in September. Labor market show resilience all the way that give space to maintain higher rates in this cycle for longer. Even the first rate cute is forecasted for September, I would still expect the higher rates to stay here for longer period due to resilient labor market, as shown by labor market indicators. There are no signs for S&P to weaken this time, rather shuttle up and down at high levels. Note that last adjustment in S&P followed the deviation of 12% from major trend line 200SMA. Attentive investors could observe it previously. When the market finally digest selling orders, S&P should resume the rising trend.
AMEX:VOO
by moncap2023
Micron Technology - Patience and price action!NASDAQ:MU is literally creating so clear and repetitive market structure, this is textbook. Bullish break and retest, cycle and correction. Micron Technology has been repeating this price action for over a decade and is about to enter another correction phase. If you don't want to trade this anticipated correction, you can instead wait for another retest of previous resistance, bullish confirmation and a rejection. Following the cycles, a bullish move there is quite likely. Levels to watch: $140, $95 Keep your long term vision, Philip - BasicTrading
NASDAQ:MUShort
by basictradingtv
11
GBPUSD | Perspective for the new week | Follow-upThe Pound Sterling (GBP) extends its correction against the US Dollar following the release of weaker-than-expected UK Retail Sales data for June, showing a monthly contraction of 1.2% against the expected 0.4% decline and the previous month's growth of 2.9%. 🔍 Key Highlights: 📉 Retail Sales Data: A significant indicator of consumer spending, the sharp decline suggests households are struggling with higher interest rates from the Bank of England (BoE). 💼 Economic Conditions: The rise in claimant count claims may indicate worsening economic conditions, favoring inflation doves on the BoE's Monetary Policy Committee. 💸 Inflation and Interest Rates: Annual inflation in the UK remained stable in June compared to May. However, the BoE points to persistently high service inflation at 5.7% and strong wage growth as barriers to cutting interest rates. 📉 BoE Rate Cuts: The probability of a rate cut by the BoE next month has declined, despite positive sentiment towards the new British government. 📊 Technical Analysis: In this video, I illustrate the technical aspects to watch out for to navigate the current market dynamics effectively. I also discuss key levels and potential scenarios for the GBPUSD in the coming days. GBPUSD Technical Analysis: Will the pound maintain buying pressure above $1.29000? Watch this video for key trades this week. Join the discussion for updates on GBP/USD trading. Stay tuned for more content. Happy trading! #GBPUSD #Forex #Trading #TechnicalAnalysis #UKEconomy #BankofEngland #Inflation #MarketAnalysis #TradingStrategies Disclaimer Notice: Trading in the foreign exchange market and other instruments carries high risk and may not be suitable for all investors. The content provided here is for educational purposes only. Evaluate your financial situation and consult with a financial advisor before making any investment decisions. Past performance is not indicative of future results.
by darcsherry
1
400 Pips in a Week! Discover the Secret Behind Trading Strategy!Technical Breakdown Ascending Channel Formation: The price has been moving within an ascending channel, indicating a bullish trend. The upper and lower boundaries of the channel have provided resistance and support, respectively. Support/Resistance Level: A key horizontal level around 2,430 has acted as both support and resistance. This level was tested multiple times, showing its significance in the price action. Bear Flags: Two bear flags are identified, one on the 15-minute chart and another on the 30-minute chart. Bear flags typically indicate continuation patterns in a downtrend, suggesting further bearish movement. Higher High (HH) and Lower High (LH): The chart shows a higher high (HH) followed by a lower high (LH), indicating a potential shift from a bullish to a bearish trend. Price Target (TP): The TP is marked at 2,348, suggesting a potential downside target based on the current technical setup.
OANDA:XAUUSD
by Adlercon333
2
S&P500 - The beginning of the bear market?SP:SPX potentially created a top and is starting to head lower for the next months. We have patterns, cycles and market structure and if everything is lining up nicely, there is a high chance you will be right. The S&P500 is currently retesting a major multi-year resistance trendling, is starting to shift bearish on the smaller timeframes and just rallied +50% without any noticeable correction. In a couple of months, we will trade at lower levels! Levels to watch: $5.500, $4.500 Keep your long term vision, Philip - BasicTrading
TVC:SPXShort
by basictradingtv
8
BASF - An Investment pick with more than 70% ROI.The stock has been in an up trend. It has broken its all time high in 2021 and in good consolidation for 2 years and broken out of consolidation now. It has broken out of a bullish flag and pole pattern / falling channel pattern in a 3 M timeframe. One may also consider this for a swing opportunity , RSI intact in all time frames. Weekly price action shows, that the stock has broken out of falling channel, retested and reversed Consolidated for 7 weeks. Weekly RSI took support at 60 and bounced. Looks ready for a swing. SL - Previous week low at 3155. Target 1 - all time high, 3880.
NSE:BASFLong
by Rugminik
5
GOLD ( BREAKOUT CHANNEL ) (4H)XAUUSD HELLO TRADERS Tendency , the price is under bearish pressure , after breakout channel . TURNING LEVEL (1) : the price of this level at 2,391$, so if the price breaking this level reach a resistance level (1) . TURNING LEVEL (2) : yesterday this level worked a support level , as mentioned breakout 2,391$ reach this level ,the price of this level at 2,365$ , so if the price breaking this level reach a support level (1) . RESISTANCE LEVEL (1) : this level around 2,420$ , for reach this resistance level the price need breaking a turning level (1) . RESISTANCE LEVEL (2) : around 2,440$ , for reach this level it will be breaking by open 4h or 1h candle above resistance level (1) SUPPORT LEVEL (1) : this level around 2,340$, for reach this support level the price need breaking a turning level (2) . SUPPORT LEVEL (2) : support level at 2,320$ , for reach this level will be breaking by open 4h candle below support level (1) . CORRECTIVE LEVEL : currently price 2,374$ , have two scenario , first corrective 2,391 before dropping to touch a 2,365$ , then 2,340$ , second corrective 2,365$ to reach a 2,391$ , then breaking this level reach a resistance level (1). TARGET LEVEL : RESISTANCE LEVEL : 2,420$ , 2,440$ , SUPPORT LEVEL : 2,340$ , 2,320$ .
OANDA:XAUUSDShort
by ArinaKarayi
Tesla - Fakeout leading to a -50% drop?NASDAQ:TSLA is currently trading at a key inflection level, forming a trend for the next years. Within a couple of hours, an entire stock can reverse and fundamentally change its trend. Tesla is still retesting a multi-year resistance trendline and is down about -8% today. If this selloff continues and Tesla rejects the resistance trendline with a massive bearish wick, then we will most likely see a correction back to the lower support of the descending triangle pattern. Levels to watch: $240, $120 Keep your long term vision, Philip - BasicTrading
NASDAQ:TSLAShort
by basictradingtv
15
XAUUSD Poised for a Massive Breakout: Are You Ready?Chart 1: 4-Hour Timeframe Trend Analysis: The chart shows a clear upward trend, forming higher highs and higher lows. A wedge pattern is visible with converging trend lines indicating a potential breakout scenario. Key Levels: Support: Around 2348.248 (4hr LQZ). Resistance: Approximately 2412.240. Major Resistance: The upper trendline around 2480. Recent Price Action: The price has recently tested the lower trendline support and is currently retracing upwards. A lower high (LH) has formed around 2480, suggesting a potential reversal or consolidation phase. Potential Scenarios: Bullish: If the price breaks above the 2412 resistance, it may retest the upper trendline around 2480. Bearish: A break below the 4hr LQZ at 2348.248 could signal further downside towards the daily LQZ at 2267.320. Chart 2: 1-Hour Timeframe Trend Analysis: A shorter-term view confirming the upward trend with higher highs and higher lows. The formation of a wedge pattern indicates consolidation within a narrowing price range. Key Levels: Support: Around 2348.248 (4hr LQZ). Resistance: Approximately 2412.240, coinciding with the previous chart. Recent Price Action: Price recently bounced off the 4hr LQZ support level and is now hovering near the 2412 resistance. The lower high (LH) indicates sellers are stepping in around the 2412 level. Potential Scenarios: Bullish: Breaking and closing above 2412 could lead to further upside towards 2480. Bearish: Rejection at 2412 and a break below recent lows could target the 4hr LQZ support at 2348.248. Chart 3: 15-Minute Timeframe Trend Analysis: Short-term consolidation observed within a wedge pattern. Recent price action indicates potential for a breakout or breakdown from this pattern. Key Levels: Support: Around 2348.248 (4hr LQZ). Resistance: Approximately 2412.240. Recent Price Action: Price is consolidating just below the 2412 resistance level, forming a wedge pattern. The 15-minute timeframe shows the price struggling to break above 2412. Potential Scenarios: Bullish: A breakout above the wedge and 2412 resistance could lead to a quick move towards 2480. Bearish: A breakdown from the wedge could revisit the 4hr LQZ support at 2348.248. Conclusion The overall trend across multiple timeframes remains bullish with key resistance at 2412 and significant support at 2348.248. A break above 2412 could signal further upside towards 2480, while a failure to break and sustain above this level may lead to consolidation or a pullback to the 4hr LQZ support. Monitoring price action around these key levels will provide insights into the next directional move.
OANDA:XAUUSD
by Adlercon333
Gold Price Set to Explode! Here’s What You Need to Watch Today!Hey Traders, welcome back to my channel! 🚀 Today, we're diving deep into the latest XAUUSD analysis, and trust me, you don't want to miss this one. With gold prices poised for a significant move, understanding these key levels could make all the difference in your trading strategy. Let's get started with the 1-hour chart (shown below). 📊 Chart 1: XAUUSD 1-Hour Time Frame Analysis (July 21, 2024) Key Observations: Daily Bull Flag Formation: The chart highlights a daily bull flag pattern, which indicates a continuation pattern following a strong uptrend. On the daily TF sometimes this can take a bit longer to see due to how big this flag is on the (LTF) The price has been consolidating within this flag formation. Reversal Structure (Lower High - LH): There is a reversal structure where the price made a lower high (LH), suggesting a potential bearish reversal in the short term. Structure LTF (Lower Time Frame): The price structure on the lower time frame indicates an area where price could pull back and reject off of this area indicating the continuation of the Overall move. The second way this could play off of this area is we could get a clear impulsive move above this structure and then a rejection looking for higher moves in the Shorter Time Frame. 15-Minute Time Frame: The 15-minute time frame shows a detailed view of the consolidation and break down from the flag formation. where you could see how close we are to the LQZ shown on the 1HR 1HR Liquidity Zone (LQZ): Identified at 2,390.966, this zone may act as a significant support area and also our first Take Profit we gave last week. 4HR Liquidity Zone: Marked at 2,349.179, another major support area that aligns with the daily LQZ. If price end up breaking the 1HR LQZ impulsively then we could look for this area as Take Profit and then once we get down to this area we could potentially see a pullback. Daily LQZ: The daily liquidity zone is at 2,286.809, a crucial support level for the longer-term perspective. Potential Scenarios: Scenario 1: Bullish Continuation The price could bounce off the 1HR LQZ and continue the pullback on shorter time frame to the structure indicated as Lower Time Frame Structure. indicated by the Yellow path. Scenario 2: Bearish Continuation The price may break below the 1HR LQZ and head towards the 4HR and daily LQZs. indicated by the Green path. In this situation we would need to see a clear break below the 1HR LQZ then start to form some type of bearish pattern to show the continuation that could come. Scenario 3: Reversal to Upside After testing the support levels, the price could reverse and start a new uptrend, indicated by the orange path. We would need to see a clear break above the structure indicated by the box. This way we could see that on the Shorter Time frame of things we could get a deeper pull back. Recommendations: Watch for Reactions at Support Levels: Monitor the price action around the 1HR, 4HR, and daily LQZs for potential entry points. Set Alerts: Set alerts for breakouts above the recent highs and breakdowns below the key support levels. Manage Risk: Ensure proper risk management by setting stop-losses below support levels and taking profits at resistance levels.
OANDA:XAUUSD
by Adlercon333
Gold’s Next Big Move: Critical Levels You Can’t Afford to Miss!Hey Traders, welcome back to my channel! 🚀 Today, we're diving deep into the latest XAUUSD analysis, and trust me, you don't want to miss this one. With gold prices poised for a significant move, understanding these key levels could make all the difference in your trading strategy. Let's get started with the 1-hour chart (shown below). 📊 Chart 1: XAUUSD 1-Hour Time Frame Analysis (July 21, 2024) Key Observations: Daily Bull Flag Formation: The chart highlights a daily bull flag pattern, which indicates a continuation pattern following a strong uptrend. On the daily TF sometimes this can take a bit longer to see due to how big this flag is on the (LTF) The price has been consolidating within this flag formation. Reversal Structure (Lower High - LH): There is a reversal structure where the price made a lower high (LH), suggesting a potential bearish reversal in the short term. Structure LTF (Lower Time Frame): The price structure on the lower time frame indicates an area where price could pull back and reject off of this area indicating the continuation of the Overall move. The second way this could play off of this area is we could get a clear impulsive move above this structure and then a rejection looking for higher moves in the Shorter Time Frame. 15-Minute Time Frame: The 15-minute time frame shows a detailed view of the consolidation and break down from the flag formation. where you could see how close we are to the LQZ shown on the 1HR 1HR Liquidity Zone (LQZ): Identified at 2,390.966, this zone may act as a significant support area and also our first Take Profit we gave last week. 4HR Liquidity Zone: Marked at 2,349.179, another major support area that aligns with the daily LQZ. If price end up breaking the 1HR LQZ impulsively then we could look for this area as Take Profit and then once we get down to this area we could potentially see a pullback. Daily LQZ: The daily liquidity zone is at 2,286.809, a crucial support level for the longer-term perspective. Recommendations: Watch for Reactions at Support Levels: Monitor the price action around the 1HR, 4HR, and daily LQZs for potential entry points. Set Alerts: Set alerts for breakouts above the recent highs and breakdowns below the key support levels. Manage Risk: Ensure proper risk management by setting stop-losses below support levels and taking profits at resistance levels.
OANDA:XAUUSD
by Adlercon333