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XAUUSD - what will happen before the Holiday season?Here is our view and update on XAUUSD . Potential opportunities and what to look out for before the Holiday season starts. Let’s take a step back and take a look at XAUUSD from a bigger perspective. For this we are attaching the long-term overview on the pair. We are still following the sell bias we have published. XAUUSD is currently trading at around 2625 with lower volume than usual. Scenario 1: SELLS from 2620 That would confirm our pullback to the upside and breaking below 2620 would give us an opportunity to drop back down to 2604 or 2600 flat. Next we would be targeting a very important KL (Key Level) 2590. Scenario 2: BUYS from 2638 We broke above 2638 and are trading above it. We should see more upside potentially reaching new highs at around 2666 which was also an important KL (Key Level) before. Personal opinion: The direction for now is unclear until we break our mentioned key levels. A safe sell trade could be taken at 2620 or a safe buy at the breaks of 2638. Be patient and stay tuned for updates on this pair. For now we are sticking to the sell bias from the long-term overview. KEY NOTES - XAUUSD breaking below 2620 would confirm sells down to 2604 - 2600. - XAUUSD breaking above 2638 would confirm further buys up to 2666. - Volume is lower as the business year is coming to an end and Holiday season is about to start. Thank you everyone for your amazing support lately. We will continue to provide value to you. Happy Holidays! Happy trading! FxPocket
OANDA:XAUUSD
by FxPocket
1
Bitcoin's Rally Loses Steam: A Reversal Pattern Takes Shape● Bitcoin reached a record high of approximately $108,390, driven by strong bullish momentum. ● However, the rally was short-lived as intense selling pressure kicked in, triggering a rapid decline to $92,500 and erasing some of the recent gains. ● The frequent price fluctuations are likely to form a Head & Shoulder pattern, a bearish pattern that indicates a potential trend reversal and further downside. ● A sharp decline is expected if Bitcoin breaches below $91,500.
COINBASE:BTCUSDShort
by NaranjCapital
SNAP - trading in the rangeHi Traders Snap Inc. is in an uptrend since August '24 and has a lot of upside potential. I would wait to see whether the upcoming price movement doesn't invalidate this uptrend, so the share price doesn't drop below $10. If this isn't the case, the uptrend will likely continue and the price will move to a higher high. Also in terms of fundamentals, Snap Inc. is doing great. They reported strong third-quarter 2024 results and made considerable progress in diversifying revenues with Snapchat+ through new artificial intelligence-enabled features. They authorized a new share repurchase program of $500 million as well. Zack Investment Research expects 2024 net sales to rise 15.4% from 2023. Enter this trade, after the price movement validates the continuation of the uptrend, between $10 and $11. Target a share price of $16.9 and put a stop loss at $9.6.
NYSE:SNAPLong
by vf_investment
2
AVAXUSD (1W) - buy the dipHi treaders, Here it is my idea for a long position on AVAXUSD (1 week time frame). the price hit a local high in March 2024 and another one in November 2024, now is in a resistance area and the price can goes down. The idea is to enter in the buy area hoping for a bounce up in the support area. The best would be if the price will hit the SMA in the buy area and use it as a support too. The buy area is between 37.49 and 33.18. We will put our take profit at 58.66 which was the local high in March 2024 and can act as a resistance in the future, the second take profit is more above, at 98.25. Good luck!
COINBASE:AVAXUSDLong
by vf_investment
SEAMUSD 12/7/2024SEAMUSD Daily Chart Analysis This coin entered a significant downtrend between May and October 2024 but found bottom November 2024. • Trend Reversal: In early November 2024, the price found its floor and began moving sideways, forming a triple bottom reversal pattern. • Breakout Confirmation: At the start of December, the price broke out above the previous resistance on a spike in volume, confirming the reversal pattern and signaling the end of the accumulation phase. • Consolidation Phase: Post-breakout, the price moved sideways, forming a series of small doji candlesticks supported by the 10-day EMA. This indicates low volatility and a temporary pause in the trend. Technical Indicators: • MACD: Above its signal line and moving into bullish territory, suggesting building momentum. • Volume: Spiked during the breakout, validating the bullish move. • EMA Support: The 10-day EMA continues to act as a strong support level, reinforcing bullish sentiment. With BTC momentum at all-time highs and technical indicators aligning, SEAMUSD presents a strong bullish setup. Entering Trade Long: • Entry: 1.3665 • Stoploss: 1.1331 (-17.08%) • Target: 2.9878 (+118.65%, 6.95 RR ratio) SEAMUSD Summary SEAMUSD shows strong signs of a bullish reversal after a prolonged downtrend. Following a confirmed triple bottom pattern and a breakout with high volume, the price has entered a consolidation phase supported by the 10-day EMA. With the MACD in bullish territory and BTC at all-time highs, this setup offers a high-probability trade opportunity.
COINBASE:SEAMUSDLong
by rudcharts
1
SUKUUSD 12/6/2024SUKUUSD Daily Chart Analysis • Previous Price Action: o A significant top for SUKUUSD was established in April 2024. o Following the top, the price tumbled through August 2024 before finding a bottom. o From August to November 2024, the price moved sideways, signaling a potential accumulation phase. • Breakout Confirmation: o The accumulation phase was confirmed with an upward breakout accompanied by a spike in volume and momentum. o In late November 2024, the price formed a bull flag pattern. o The bull flag breakout has been confirmed, with several daily closes above the flag's top, solidifying the bullish trend. • Momentum Indicators: o The MACD is firmly in bullish territory, supporting continued upward momentum. o The price is consistently supported by the 10 EMA, indicating a strong bullish trend. • Broader Market Context: o With BTC making strides toward new all-time highs, SUKUUSD's bullish setup is further reinforced, making this trade even more favorable. Trade Setup (Long): • Entry: 0.1139 • Stop Loss: 0.0883 (-22.48%) • Target #1: 0.1918 (+68.39%, 3.04 RR ratio) • Target #2: 0.2679 (+135.21%, 6.02 RR ratio) This trade capitalizes on SUKUUSD's confirmed accumulation breakout, strong technical indicators, and a favorable macro context with BTC leading the crypto market higher.
COINBASE:SUKUUSDLong
by rudcharts
BITCOIN end of correctionThe chart depicts the BTC/USD price action on a 1-hour timeframe. Here’s a detailed analysis: ### Key Levels: 1. **Resistance Levels:** - **Pink Zone (101,880 - 102,602):** A strong resistance area where price failed to break higher multiple times. This zone shows selling pressure and marks a critical area for a potential breakout or reversal. - **108,267:** A major resistance level further up, yet to be tested. 2. **Support Levels:** - **Blue Zone (92,628 - 94,496):** A significant support area, as price has bounced from this zone multiple times. It represents strong buyer interest. - **90,690:** A lower support level, indicating the next target if the price breaks below the blue zone. 3. **Intermediate Levels:** - **99,011 - 99,316 (Green Zone):** Previously acted as support and resistance, indicating a pivotal level. - **100,698 (Orange Line):** A key psychological level, aligned with the round number of $100,000. --- ### Chart Patterns and Trendlines: - **Downward Channel:** The red descending trendline highlights the current bearish momentum, with lower highs and lower lows. - **Potential W Reversal Pattern:** The double bottom formation near the blue support zone suggests a possible bullish reversal. If confirmed, the price could break above the descending trendline and target higher resistance zones. --- ### Price Action Insights: 1. **Current Movement:** The price is trading around $95,433, slightly above the blue support zone. This suggests consolidation after a recent bearish trend. 2. **Key Rejections and Bounces:** - Multiple rejections in the pink zone indicate strong resistance. - Clear bounces from the blue support zone emphasize its importance. --- ### Potential Scenarios: 1. **Bullish Scenario:** - If the price breaks above the descending red trendline and sustains above the green zone ($99,011 - $99,316), the next target would be the orange line ($100,698) and eventually the pink resistance zone. - A breakout above the pink zone could trigger a strong rally toward $108,267. 2. **Bearish Scenario:** - If the price fails to hold above the blue support zone, the next target is $92,628. Further downside could lead to a retest of $90,690. --- ### Summary: - The chart reflects a consolidation phase after a bearish trend. - Bulls need to reclaim $99,316 and break the red descending trendline to shift momentum. - Bears will aim to break below $94,496 for further downside. This analysis suggests close monitoring of the $94,496 and $99,316 levels to anticipate the next directional move.
BITSTAMP:BTCUSD
by amerjaradat