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Chartpattren

#SPX intermarket analysisAs observed, the SPX and Copper have shown a strong positive correlation over the past few weeks, often forming tops and bottoms simultaneously. Given that Copper recently failed to break above a long-term bearish channel upper line and has broken its structure to the downside, we might expect a similar move in the SPX. However, when trading SPX based on this intermarket analysis, it's crucial to wait for a price confirmation in the SPX itself before taking any action.
FX:COPPERShort
by mohemati
UMA - Three D(r)ives Down PATTERNUMA is approaching an ideal buy-back zone whilst forming an important chart pattern - the Three Dives Down Pattern. This pattern goes by many names including Three Drivers, Three Drives Down and Three Dives Down (which is the one I prefer to use). This pattern is bearish for the SHORT term, but bullish for the NEAR and LONGER term. It's important to note that this analysis is from a macro timeframe, with the aim on identifying the key buy-back or re-accumulation zone. From the daily and lower timeframes, the price could easily increase by large amounts however, keep in mind we're looking for an accumulation zone not for swing trades in this post. ________________________________ BINANCE:UMAUSDT
by CryptoCheck-
Gold Short-Term Dip with Long-Term Bullish PotentialGold presented an excellent opportunity for traders today, with the market favoring the bears. Despite this short-term bearish momentum, the long-term pattern for gold remains bullish when considering the broader fundamentals. Notably, gold has recently created an all-time high (ATH), which further strengthens its bullish outlook in the long run. Currently, gold is trading around the $2,480 level, where it has found a key support zone. The price action at this level suggests a potential rebound. I anticipate that gold will bounce back from this support and make its way towards the $2,500 level, where it will likely retest the resistance. Traders should keep a close eye on this support level, as a successful rebound could signal a continuation of the long-term bullish trend. However, if the bears manage to break this support, we could see the market fall to the $2,445 level. Keep your eyes open when the market opens, as it may provide hints about the next move for gold. Caution is advised, as market dynamics can shift quickly, and it’s essential to stay updated with the latest market developments.
OANDA:XAUUSDLong
by SaadFiaz
Parallel Channel Breakout in VOLTASStock: VOLTAS Current Price: 1560 Chart Pattern: Parallel Channel Breakout Overview VOLTAS has recently demonstrated a technical breakout from a well-defined parallel channel pattern. This breakout is an indication of potential bullish momentum, suggesting that the stock could experience significant upward movement. The breakout occurred at the 1560 level, which serves as a critical point of reference for further trading actions. Trade Setup Breakout Level: 1560 The breakout level represents the point at which the stock price moved above the upper boundary of the parallel channel, signaling a potential trend reversal or continuation in the upward direction. Entry Strategy: Go Long: Enter the trade at or slightly above the breakout level of 1560. This ensures that the breakout is confirmed and the trade is initiated in the direction of the new trend. Target Levels Initial Target: 1625 This target is set based on a conservative estimate of the stock's movement post-breakout. It represents an intermediate price level where profit-taking or partial exits might be considered. Final Target: 1684 The final target is derived from the height of the parallel channel pattern. This level projects the full potential upside based on the channel’s dimensions, assuming the breakout sustains. Risk Management Stop Loss: 1500 A stop loss at 1500 is recommended to manage risk and protect against significant adverse movements. This level is strategically placed below the breakout point to allow some price fluctuation while still maintaining a controlled risk profile. Technical Analysis Pattern Confirmation: The breakout from the parallel channel is a bullish signal, indicating that the stock has moved beyond its previous range of consolidation. This suggests the potential for further upward momentum. Upside Potential: The height of the parallel channel, when projected upward from the breakout level, provides a target range for potential price movement. The final target of 1684 is calculated based on this pattern’s projected extension. Summary Action: Go Long Entry Point: At or above 1560 Stop Loss: 1500 Initial Target: 1625 Final Target: 1684 Additional Notes: Continuously monitor market conditions and stock performance. Adjust stop loss and target levels as needed based on ongoing technical analysis and market developments. Consider using trailing stops to lock in profits as the stock price moves toward the target levels. Disclaimer: This recommendation is based on technical analysis and educational purpose. Always conduct your own research and consider consulting with a financial advisor before making trading decisions.
NSE:VOLTASLong
by TradZoo
GOLD - is it retest?? Or again ATH??#GOLD... well guys a new week with important data's is going to start in few hours. On chart we have our channel that is most important as you can see in history. That channel can create a bubble for at least 50 points to eitherside. So keep close that channel if that is market retest then again drop expect f below that. But keep in mind that if market enter again in his channel the. Cut n reverse should be my next option. Good luck Trade wisely
OANDA:XAUUSD
by AdilHussain731333