#GER30 bearish continuation moveAfter an impulsive bearish move in the GER30 last week, the price is now forming a bullish corrective move and a rising wedge pattern, which typically has a bearish bias.
Additionally, the price has reached the 1-hour 200 EMA, which could act as dynamic resistance. There's also a bearish divergence between the price and the momentum oscillator on this timeframe.
These factors together suggest a bearish outlook.
Chartanalysis
#AUDNZD bearish continuation scenarioAfter a bearish impulsive move, the price appears to be completing a bullish corrective ABC pattern. So far, it has completed waves A and B and is currently in the midst of the bullish wave C.
This bullish move could take the price back to the previous lower high, as highlighted in the chart. From there, we could anticipate the start of another bearish move.
Gold Market Outlook: Bullish Trend Expected To PersistOur technical analysis and market indicators suggest that gold will continue to exhibit bullish behavior tomorrow, Identified buy level at 25 and 20, building on the momentum established in recent trading sessions. This optimistic forecast is supported by robust fundamental factors, including:
- Strong investor demand for safe-haven assets
- Central banks' continued gold reserves accumulation
- Favorable macroeconomic conditions
[INTRADAY] #BANKNIFTY PE & CE Levels(09/08/2024)Market Outlook for Bank Nifty:
Opening: Expected to open with a gap up near the 50,500 level.
Potential Reversal: After opening, a reversal at the 50,500 level could continue the bearish trend.
Downside Potential: If a reversal is confirmed if banknifty starts trading below 50450 level, a downside rally of 400-500 points could occur after that.
Extended Downside: The rally might extend by an additional 400-500 points if Bank Nifty trades below the 49,950 level.
Upside Potential: Any upside rally is only anticipated if Bank Nifty sustains and trades above the 50,550 level.
NZDCAD 4 Hours Technical Analysis ProjectionWe have just spotted a good selling opportunities on NZDCAD 4 Hours Chart as price printed a double top formation at a structural level. This is one of the setups we don't want to miss out on.
1 Hour chart also shows a bearish corrective formation which may give room for sellers to jump onboard.
Booking Holdings: Trend Reversal! The sharpness of the correction and the current structure lead us to consider the last high at $4147 as the end of the major wave (I) in blue. We now expect a countermovement in the green wave (II), which should end below the resistance at $4147. Following this corrective counter-move, we expect further declines. That being said, our alternative scenario (33%) calls for further record highs. In this case, we will still have to place the price in the blue wave alt. (I).
The doomsday retracementWow, what a week it has been. SPX down 3.5% and up 2.5% the day after.
My thought is this backtrack is going to be the biggest retracement for the drop, just like we saw on bitcoin. APPL seems to have DOJ issues, NVIDIA chip issues in Taiwan... all seems to be lining up for potential lower for longer. My only buy this year will be TSLA. More on that.
Goldilocks is not going to bring us back to pre-pandemic levels, rate cuts are not going to save the market. The narrative has already changed on July 17th when Trump said he didn't want to invade Taiwan, good luck buying after august.
#Coffee beginning of another rallyPrice recently managed to break above the bearish trendline that previously kept it lower during the recent bearish corrective move.
Now that the price has broken above this counter-trend trendline and formed a bullish impulsive move, we can wait for wave 4 to complete and try to benefit from the fifth wave.
Let me know if you would like me to publish an analysis in a lower timeframe on this chart to take advantage of this rally.
#WHEAT chart pattern analysisAs can be seen, price managed to break above an ending diagonal and established a bullish structure in 1H and 4H timeframe.
Therefor, I would be looking to buy a bearish corrections unless the way of evidence show or prove to me otherwise.
Let me know if you would like me to publish an analysis in a lower timeframe on this chart to take advantage of this rally.
Chainlink: Let’s go!LINK dropped significantly in the last seven days and even briefly undercut our turquoise Target Zone (between $8.20 and $10.90). However, as it was able to turn around quickly and only undercut the range by less than 1%, our count remains intact. We now see the turquoise wave 2 as completed and expect an upward push above the resistance at $20.85 in the further course. Investors could open long positions within our Target Zone. Stops could be placed around 1% below the lower edge. Should the bears push the price significantly below the Zone (37% likely), we will have to anticipate a lower low of the turquoise wave alt.2
Uber: Turning PointUber has retreated deeper into our magenta Target Zone (coordinates: $68.19 - $52.89). Primarily, the same-colored wave (iv) correction should be in its final stretch. In order to convince us of a low, the price needs to develop a clear impulse to the upside. The entire range can be used to open long positions. As a hedge, a stop could be placed around 1% below our Zone. Following the correction, we primarily assume that the magenta-colored five-wave move should be completed above the resistance at $81.87 which should also mark the end of the turquoise-colored wave 3.
Saudi wants production cuts, America doesn'tAlthough everyone is cutting down production, even SHELL, we are seeing the narrative of higher prices for longer. OPEC wants to cut beginning October 2024 until 25.
This might be for a multitude of reasons, which makes it quite unclear what the goal is. After falling demand and easing in production, my narrative is that we might see prices fall instead of rise, even though we are trying to limit supply, I think markets are going to want to lower prices as energy scarcity becomes vulnerable and volatility will rise. Geopolitical risks has not eased.
US SPR is lower than a quarter of its peak in 2021. My bet of dropping prices lies on that. As well as Trump having 70% chance of coming into office, I expect a welcoming gift from MBS giving us discounts on gas!
Solana: SlumpedSOL retreated quite a bit last week. However, our primary scenario remains unaffected by this development. We continue to see the price in the final stage of the blue wave (i), in the context of which we expect a rise well above the resistance at $210.03. However, we must also keep an eye on our 25% likely alternative scenario, which will be activated by a slide below the $118.89 support level. This option sees the coin already in the blue wave alt.(ii) and would ensure a sell-off into our blue Target Zone (between $109 and $51.20).
Falling Wedge pattern breakout in AWLADANI WILMAR LTD
Key highlights: 💡⚡
✅On 1 Day Time Frame Stock Showing Breakout of Falling Wedge Pattern.
✅Strong Bullish Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 444+.
✅Can Go Long in this Stock by placing a stop loss below 344-.
Mapping GoldBreaking down the structure here and playing the bounces.
Selling the 2450’s and buying the 30’s.
Short here anticipating another break into the 30-20’s region.
Looking to see some excitement in the next few candles. Could see another rip up. Have a light enough position to accommodate and ride the lighting back down to 2400 whenever the beast decides to move that way.
GL trade safe.
Cheers, Hold the ticket.
Bullish Flag pattern breakout in TATACONSUMTATA CONSUMER PRODUCT LTD
Key highlights: 💡⚡
✅On 1 Hour Time Frame Stock Showing Breakout of Bullish Flag Pattern.
✅Strong Bullish Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 1340+.
✅Can Go Long in this Stock by placing a stop loss below 1167-.
4Hr chart model.My interpretation of the market leads me to believe.
That this a good time to sell the news before it runs inter the upper channel and presses for the ATH.
Rug pull into this beautiful interpretation of what… “The line game goes down into this heart area and you are a champion right?”
- Inspired by a beautiful mind, “line game” on yer phone.
#GBPCAD bearish scenarioBearish divergence in the 4H timeframe, as well as price failing to create a new high, shows potential weakness in the uptrend.
Furthermore, from an Elliott wave perspective, it seems like we are at wave 5 of 5, with a high potential for a bearish move from here.
In the 1H timeframe, we can see that the price managed to break below the previous higher low, successfully changing the structure towards bearish in the 1H timeframe.
Let me know if you would like me to publish an analysis in a lower timeframe on this chart to take advantage of this rally.
Palantir: Resistance Palantir has fallen back below the previously broken resistance at $27.50. Despite the current difficulties with this level, the rally should continue soon with the green impulse wave being expanded further north.
#XAUUSD60 Does GOLD change direction after war news?Asia-Europe session analysis on July 31, 2024:
The news of war has broken the downtrend on the M30 timeframe, indicating a high probability that prices will reach the liquidity zone of 30-33 and then experience a slight decrease before continuing the upward trend.
However, on the H4 timeframe, closing and maintaining prices above the 2440-2445 zone is necessary for the uptrend to resume. The current analysis on the D timeframe still shows a downward trend. Today marks the end-of-month candle closing and is expected to bring unpredictable fluctuations.
Key price levels to watch are 2408 - 2410 and 2440 - 2445.
Recommended orders:
Plan 1: BUY XAUUSD zone 2408 - 2410
SL 2404
TP 2413 - 2423 - 2430.
Plan 2: SELL XAUUSD zone 2430-2433
SL 2435
TP 2427 - 2423 -2418.
RIF/USDT NEW INCREASE VOLUMEThe last data shows that RIF/USDT has a good chance to create a new volume in the coming time frames, we will follow up to see if this coin is able to have confirmation in the coming time frames.
RIF/USD has a history of breakdown trends, we will follow the coin to see if this is the reversal trend.