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Descending Channel

GOLD → ECB rate and NFP in the US. What to expect?FX:XAUUSD is supposedly ending the correction wave on the background of fundamentally weaker dollar. ECB rate and US news (Initial Jobless Claims & NonFarm Payrolls) ahead The European Central Bank is expected to cut interest rates for the first time since March 2016 at the end of its June policy meeting later today. Meanwhile, markets now have a better chance of an imminent Fed rate cut amid signs of a slowing US economy. Ongoing geopolitical tensions in the Middle East, continue to act as a safe-haven price for gold. Also, everyone is interested in the NFP (as one of the first signs of the Fed's readiness to loosen the policy), which will be published on Friday. Technically, gold is forming a false break of MA-50 on D1, and breaking trend resistance on H1. All eyes are on the near-term support at 2354-2350 Resistance levels: 2374, 2405 Support levels: 2354, 2350. 2328 Possible support retest (false breakdown or intermediate struggle), which may lead to strengthening of the price. On the background of news, volatility may increase. Regards R. Linda!
FX:XAUUSDLong
by RLinda
8
Alikze »»STX | Ascending channel 1HIn time 1H, it is moving in an ascending channel. 💎 The last bullish leg after an unsuccessful break in the supply area of the previous wave has been corrected, which has extended to the green box. 💎 If the area is maintained, it can grow first to the middle of the channel to break the swing and then to the 2.24 range. In the future, it can continue this growth by maintaining the middle of the channel to the top of the channel. 💎 Alternative scenario: In addition, if the green box area is broken, it can continue the correction to the bottom of the channel and then to the range of $1.95. »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Sincerely.❤️ »»»«««»»»«««»»»«««
Long
by alikze
Where is the SPX most likely headed in the coming yearsAlthough it's hard to predict what the stock market will do in the future, there is already a clear consensus on what is likely to happen. In this chart, I have plotted most predictions from big investment banks like Goldman Sachs and Morgan Stanley to other investors like Michael Burry. I have also calculated the average of all the predictions and plotted it on the chart. I think the most likely scenario is that we retest the lows of the Corona Virus Crisis, and then we trade sideways from there (illustrated with the red arrows). There is also the probability that we bounce off the 3000 SPX as the consensus estimates and then trade sideways from there (illustrated with blue arrows). The main reason we might trade sideways for the coming years is because of a dilemma the Federal Reserve is currently facing. Having to fight a battle between high inflation caused by quantitative easing done during the Coronavirus Crisis, and fighting said inflation by raising interest rates which will make it harder to maintain its 30 Trillion dollars of debt obligations. Likely changing back and forth till there is a deleveraging of the whole system that will last at least 3 years. And since the markets are strongly correlated to what the fed does, this will be the most likely outcome. Let me know your predictions and see if you agree more with the blue arrows or red arrows.
SP:SPXShort
by Blasik
7
GBPAUD Trade Setup: Bearish ChannelGBPAUD has piqued my interest from a mid to long-term perspective. I'm looking at two potential shorting opportunities: Key Levels: - Short Entry on Resistance Retest: 1.9212 - Bearish Channel Indication: As long as this channel isn't violated, it strengthens the bearish bias. I'll be looking for shorting opportunities on both the 4-hourly and 1-hourly charts based on these indications. What's your trade plan for GBPAUD? Comment down below and share your thoughts! Happy trading!
Short
by RaynLim
Bitcoin - 10% crash is coming, buy at 62k (here's why)Bitcoin is preparing for a pretty significant crash (in June). Why do I think so? We need to look at the previous price action because in May, Bitcoin pumped by 25%. If we take a look at May's price action, we can see that the uptrend created a FVGAP at 62k, and these gaps tend to be filled sooner rather than later. This is, of course, not the only reason why I am bearish.  From the Elliott Wave perspective, Bitcoin finished the first impulse wave (1) and after such move we can expect a corrective ABC pattern because markets always move in waves. In general, a typical retracement for waves (1) is 0.618 FIB and also 0.382 FIB in strong bull markets. The 0.618 FIB overlays perfectly with the mentioned FVGAP, which gives us a pretty solid buying opportunity if the price reaches this level. The next good opportunity is to short Bitcoin on the futures market.  The next reason why I am bearish is this small red trendline. As you can see, the trendline is breaking down, which is, of course, a sign of weakness. This trendline is part of the rising wedge pattern, so it adds to the overall bearishness. Currently, I am bearish, so be careful during the summer as the price action is not the most volatile for Bitcoin during this season. Let me know what you think about my analysis in the comment section, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
Short
by Xanrox
72
NZDUSD → Pre-breakdown consolidation. Next, 0.62?OANDA:NZDUSD breaks the bearish trend in early May and confirms the fact that bulls appear on the market. The fundamental background is positive and growth can be considered in the long term. Earlier the price tested a strong descending resistance by a false breakdown. There was no proper reaction in the form of a change of trend or a strong fall. Consolidation is being formed. If the price continues to pull up to the upper boundary of the triangle on D1, the pre-breakout prospect will only intensify. On H1 it is worth paying attention to the range 0.6170 - 0.6083. Anything can happen on the background of the news, so it is worth watching the reakitsa of the ruck to the mentioned borders. A false breakdown of support before further growth is possible. Resistance levels: 0.6170, 0.6217 Support levels: 0.6083, 0.6000 I expect that the trend may get its continuation. The market is extremely calm now, as there is strong news ahead that could determine the medium-term outlook Regards R. Linda!
Long
by RLinda
7
After fake breakout of support level, Euro can continue to growHello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price rebounded from the support level and made an upward movement, after which turned around and started to decline inside the downward channel. In the channel, the price declined to the 1.0805 support level, which coincided with the support area, and soon broke this level and fell to the support line of the channel. Then, the Euro rebounded up and rose to the channel's resistance line, breaking the support level again, and even soon price exited from the downward channel and continued to grow. But later, the price turned around and made a downward impulse to 1.0600 points, breaking the support level one more time, and then the Euro started to rise inside an upward wedge. In a wedge, EUR in a short time rose to the 1.0805 level, broke it, and rose to the resistance line of the wedge, after which turned around and fell to the support area. But not a long time ago EUR bounced up from the support area, making a fake breakout of the support level and now, in my opinion, the price can make retest of the support level, after the fake breakout. Then price will continue to move up to the resistance line of the wedge. For this case, I set my target at 1.0910 points. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
3
EURUSD → A false breakout leads to a correction. 1.080?FX:EURUSD is forming a correction after a false breakdown. The movement is formed after updating the local highs. The fundamental background for the currency pair is positive. The false breakout occurs against the resistance at 1.0885, as well as the rising line limiting the trend. If the fundamental background persists, in this case the correction will not last long and the global bullish movement may start to recover. On H1 it is worth paying attention to the support: 1,080 (liquidity area), which the price may test. This boundary may become the lower zone of the new range, which may confirm the change of trend. Support levels: 1.080, 1.0766, 1.0736 Resistance levels: 1.0884, 1.0942 Technically, a false breakdown of resistance and corrective downward movement is forming. Today there is no strong news and movements can be calm. Regards, R. Linda!
Short
by RLinda
4
NZDUSD → Trend Change. Consolidation before the impulse FX:NZDUSD is entering the consolidation phase after breaking the local trend resistance. On D1 the price enters a new range and on H1 a golden cross is formed. The dollar is standing still and losing positions since the opening of the session on the background of negative news. This is generally favorable for the currency pair. In this case, a retest of the support of the range forming above the bearish channel is possible with the aim of further growth. The currency pair has a potential and with the breakout of 0.604 the price may start to realize the accumulated potential and strengthen to 0.608 or 0.617. Resistance levels: 0.604 Support levels: 0.600, 0.5983 Most likely trading inside the range may continue. False breakdown of support and further strengthening to resistance is possible, but further price reaction to resistance will show us the readiness of the market to go in one direction or another. Regards R. Linda!
Long
by RLinda
7
HelenP. I Euro will continue to fall to support line of channelHi folks today I'm prepared for you Euro analytics. Some time ago price reached the support level, which coincided with the support zone, and soon broke this level, made a retest, and continued to move up. In a short time, EUR rose to a resistance level, which coincided with the resistance zone and even rose higher to the trend line, breaking the resistance level. But soon, the price turned around and started to decline in a downward channel, where it at once broke the 1.0865 level, and fell below, but soon it backed up and reached the trend line again. Later price finally broke the resistance level and continued to decline to the support line of the downward channel, after which the Euro rebounded and rose to the resistance zone, which coincided with the trend line, which is the resistance line of the channel too. But recently price rebounded from this line and started to decline. Just now, I expect that the Euro will make a small move up to the trend line and then continue to decline. For this reason, I set my goal at 1.0800 points, which is located near the support line of the downward channel. If you like my analytics you may support me with your like/comment ❤️
Short
by FirstNameHelen
2
✨ ONEUSDT: Breakout from Descending Channel Signal📊 Chart Analysis : The ONEUSDT daily chart shows a descending channel pattern, which is a bullish reversal signal when broken to the upside. The price has been contained within this downward-sloping channel since early April, and it is now approaching a breakout point. - Resistance Level: The upper boundary of the descending channel around $0.0220. - Potential Target: Upon a successful breakout, the measured move target is around $0.0320, indicating a potential upside of approximately 46%. - Volume: An increase in volume on the breakout would confirm the strength of the move. 🔍 Technical Indicator Analysis : Momentum: - RSI: Mostly neutral across timeframes, indicating balanced momentum with a slight bullish bias in the mid-term (12h at 56.8). Trend: - ADX: Neutral across most timeframes, with a slight bullish bias in the long term (1w at 29), suggesting emerging trend strength. - CCI: Bullish in the short term (1h at 100.4) but turns neutral or bearish in longer timeframes. - Ichimoku: Bullish in the mid-term (6h to 12h) but remains bearish in the longer term (1d to 1w), indicating potential short-term upward movement. - MACD: Bullish in the short term (1h) and mid-term (1d), with bearish signals in the longer term (3d to 1w). Volatility: - ATR: Low fluctuation in the short term, indicating stable price action, with high fluctuation expected in the longer term. - Bollinger Bands: Neutral in the short term, high fluctuation in the long term, suggesting potential increased volatility. Volume: - ADI, OBV: Generally bearish in the short term, but turns bullish in the mid to long term, indicating accumulation. - VWAP: Bullish in the short term, bearish in the longer term, highlighting mixed volume trends. 🔮 Prediction : Short-term (1h - 4h): Expect bullish movement with short-term indicators pointing upwards. Mid-term (6h - 12h): Continued bullish momentum likely as indicated by Ichimoku and MACD. Long-term (3d - 1w): Caution is advised due to mixed signals and potential high volatility. 📝 Conclusion : ONEUSDT is poised for a potential bullish breakout from its descending channel pattern. Short to mid-term indicators support an upward move, while longer-term indicators suggest caution due to potential volatility. 💡 Final Call : - Watch for a breakout above $0.0220 with increased volume for confirmation. - Monitor key support at $0.0170 and resistance at $0.0220. - Prepare for potential volatility and manage risk appropriately. - Remember, Patience is the key in trading. 🙏 Thank You : Thank you for reading this analysis. Always conduct your own research (DYOR) and make informed trading decisions. Happy trading! Tags: #TechnicalAnalysis #ONEUSDT #CryptoTrading #BullishBreakout #Cryptocurrency
by crypto_pumpppp
2
All about⚫️Notcoin(NOT)⚫️____(Q&A)📚🥳Hello, everyone. I hope you have a great weekend. 🌐Today, I decided to share a complete Notcoin(NOT) project analysis. Many of you were waiting for Notcoin(NOT) to be listed in different exchanges , and finally, Notcoin(NOT) was listed. 📚 What is the Notcoin(NOT)❗️❓ 🔸Notcoin(NOT) is one of the new and attractive tokens that has recently attracted a lot of attention in the world of cryptocurrencies. NOT token, built on the TON blockchain platform, followed a unique approach to mining through a game on the Telegram platform and thus attracted a lot of attention worldwide. 🔸According to the official announcement of the Notcoin(NOT) game, on April 1, 2024, the Notcoin(NOT) mining was stopped. This means that users will no longer be able to mine NOT through the bot from April 1. The development team of this game released the news of the closure of NOT mining, making the status of sales and airdrops of this Token clearer. 🔸The airdrop of Notcoin(NOT) is supposed to be done in two stages. In the first stage, the tokens of users who have mined NOT by April 1st. In the second stage, a reward in the form of a NOT token is given to users who stake this token because of airdrop. Therefore, it can be said that we are out of the NOT mining phase, and the time has come to trade it. ----------------------------------------------------------------------------------------------------- 🔔Now, let's check the Notcoin(NOT) project with the help of SWOT (Strengths-Weaknesses-Opportunities-Threats). 📚 What is the SWOT❗️❓ 💡 SWOT ( Strengths-Weaknesses-Opportunities-Threats ) analysis is a framework used to evaluate a company's competitive position and to develop strategic planning. SWOT analysis assesses internal and external factors, as well as current and future potential. 🔸 Strengths : A unique approach to mining _ Strong development team (under TON project) _ Good marketing _ Limited initial offer _ Specific supply number _ Fair distribution. 🔸 Weaknesses : No white paper _ Difficulty in withdrawing and selling NOT tokens to the general public _ Poor website _ Hanging bot _ High fee _ Not having a clear future for the Notcoin(NOT) project. 🔸 Opportunities : Hard Forks to improve the Notcoin(NOT) project_ Willingness of big investors to invest _ Improving the website and white paper. 🔸 Threats : High number of miners _ Emergence of Whales _ In case of poor performance of the Notcoin(NOT) project, it is possible to be removed from major exchanges _ Hackers. 💡 Can you add other parameters to the options above or not❗️❓ ----------------------------------------------------------------------------------------------------- 📚How to withdraw and sell the Notcoin(NOT)❗️❓ 1️⃣_ Installing the Toncoin wallet : For example, you can use the Tonkeeper wallet. 2️⃣_ Buy TON to pay fees : You must have around $2 TON in your wallet. 3️⃣_Connecting the Notcoin bot to the ToneKeeper wallet for withdrawals. 4️⃣_ NOT deposit to exchanges . 🔔 Of course, each of these parts has details that you can ask in the comment section if you have any problems. ----------------------------------------------------------------------------------------------------- 📈Now, let's go to the technical analysis of NOT when we can buy or sell this token. 📈Considering that Notcoin(NOT) has been listed in exchanges for less than 3 days , we cannot use much data for analysis, but so far, Notcoin(NOT) has been able to make support and resistance zones . 📈Notcoin(NOT) managed to break the 🟢 Support zone 🟢 and the lower line of the Descending channel , which is a sign of further decline. Another point is that with the passage of time, the number of people who learn how to deposit NOT to exchanges increases, and because they did not pay for getting NOT(general society), they intend to sell. Another point is this. If NOT is listed in exchanges that do not require KYC, the sales pressure will increase from miners who cannot sell in KYC exchanges. 🔔I expect that Notcoin(NOT) will continue to fall in the coming week, and the Round numbers in front of Notcoin(NOT) can play the role of support for it. (Notcoin(NOT) may drop more than 🚨➖15%🚨 , maybe more). Since I expect Bitcoin and Toncoin(TON) to have a correction in the coming week, this correction can help Notcoin(NOT) fall further. ❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed. Notcoin(NOT) Analyze (NOTUSDT), 15-minute time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
18
Descending Channel on EUR/USD @ D1This descending channel pattern has formed on the daily chart of the EUR/USD pair following a long uptrend. The pattern's borders are marked with the yellow lines. The potential entry level is at the cyan line. The potential take-profit level is at the green line. The stop-loss can be set to the low of the breakout candle (or to the low of the preceding candle if the breakout one is trading mostly outside the channel). Obviously, the SL isn't shown on the chart. I will only take a long trade from this bullish pattern setup.
Long
by AndriyMoraru
3
Bitcoin can correct to support area and then rebound upHello traders, I want share with you my opinion about Bitcoin. Looking at the chart, we can see how the price declined inside the downward channel, where it bounced from the resistance line and fell to the 61000 support level, which coincided with the support line of this channel. Then BTC broke this level, exiting from the downward channel also and declining a little lower, but soon turned around and started to grow inside the upward channel. In this channel, Bitcoin quickly rose to the resistance line, breaking the 61000 level again, and then corrected the 61000 support level, which coincided with the buyer zone. After this, the price continued to grow and later reached the current support level, which coincided with the support area. Soon, BTC broke it and even exited from the upward channel, but a not long time ago Bitcoin turned around and declined to support area. As well recently prices rebounded from this area and started to grow. So, in my opinion, Bitcoin can correct to support area and then rebound up, therefore I set my target at the 72500 level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
BLUR/USDT Bullish Horizon from demand? What next 👀🚀💎 Paradisers, turn your attention to #BLURUSDT as it exhibits a promising potential for a bullish reversal from the demand level at $0.4413. Should it sustain momentum here, there's a strong likelihood of initiating a bullish advance, with aims to breach the supply zone and target our outlined strong resistance area. 💎 Notably, #BLUR has recently escaped a descending channel, signaling the beginning of a bullish trend. It is currently regathering strength at the demand level, which serves as a supportive base, enhanced by its position above the EMA—a factor that bolsters our optimism for an impending ascent following brief EMA interactions. 💎 Detailed analysis of the VRVP indicates substantial volume at this level, enhancing the probability of continued upward movement. However, vigilance is essential: if the price fails to maintain this level and falls below the demand, our attention will shift towards a bullish recovery from the next key demand and FVG area at $0.3632. Breaking below this level could challenge the bullish perspective, potentially leading to extended price declines. 💎 As always, employing wise trading strategies and establishing precise stop-loss measures are imperative. Stay vigilant and keep an eye on further market developments and insights. MyCryptoParadise iFeel the success🌴
Long
by MyCryptoParadise
3
MANA/USDT upward momentum from bullish OB? 👀🚀MANA analysis💎 Paradisers! #MANAUSDT closely as it demonstrates robust signs of a bullish continuation from the Bullish OB. 💎 Observing its recent price movements, EURONEXT:MANA has successfully breached its descending resistance and is now primed for an ascent starting from the Bullish OB at $0.4317. Should this momentum sustain, we anticipate a strong push towards the supply area at $0.5597, though we may see some initial resistance that could trigger a substantial rise. 💎 It's also important to note the reduced intensity of rejections at this OB level, suggesting a weakening of resistance. If this level fails, we are ready to leverage a bullish rebound from the foundational support at $0.3910. The significant liquidity at this level suggests that #MANA could experience a powerful bullish recovery. However, a break below this Order Block might precipitate a considerable drop in price. MyCryptoParadise iFeel the success🌴
Long
by MyCryptoParadise
GBPUSD → A false breakout draws a pin bar. Sellers are winning FX:GBPUSD is forming a test of the resistance level at 1.271. There is a struggle for the level during the week and apparently the sellers are winning (pinbar is formed and consolidation under the level). Technically, the downtrend was broken earlier, but there was no confirmation of the boundaries and confirmation of the trend change, so the area of 1.271 may become the zero point for the beginning of the correction. The currency pair on the background of fundamentally strong dollar may go down to 1.2664 with the subsequent breakout and fall to 1.257. Overall, the environment is unstable due to high inflation and regulators' decisions. Resistance levels: 1.271, 1.28 Support levels: 1.2664, 1.257 I expect the beginning of correction to the support area, although the bearish channel was broken earlier, but there are no strong bulls in the market yet. Regards R. Linda!
Short
by RLinda
10
GOLD - Price can break support level and continue to fallHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 A few moments ago price entered to falling channel, where it at once reached $2400 level and then bounced down. After this, Gold fell to $2305 level, which coincided with support area, and at once bounced up to resistance line of channel. Soon price fell lower $2305 level, after which in a short time turned around and started to grow in rising channel. Then price broke $2305 level, made retest, rose to $2400 level, and soon broke it too, exiting from rising channel as well. Also, Gold tried to rise more, but failed and recently declined to support area, where now continues to trades near. Possible, price can break support level, make retest, and continue to decline to $2350 If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDShort
by WalterMoon
14
BLURUSDT → Trend break and positive fundamental background BINANCE:BLURUSDT breaks the trend resistance and forms a retest of the upper flat boundary, which will keep the bulls from strong growth for some time. A pullback is possible before further growth The cryptocurrency market is reviving on the back of bitcoin rally as well as Ethereum rally due to positive news. As for BLUR: The coin is breaking resistance, but ahead of it is a strong area 0.4367-7375 - the upper boundary of the pullback or flat, previously there was a strong trend and bears are quite actively defending this zone. A small pullback or consolidation may be formed, the market needs to gather liquidity to overcome this area. Support levels: 0.36 Resistance levels: 0.4367, 0.4375 The market is forming a trend change signal, but we need to wait for its confirmation: consolidation above 0.4367. This may cause a rally to 0.6 - 0.7. Regards R. Linda!
Long
by RLinda
2
APEUSDT → The coin gives indications to possible growthBINANCE:APEUSDT forms a conglomerate of patterns, the realization of which can lead to a trend change or forging rally. A bear market may change to a bull market The coin has found a bottom by forming a strong pattern. Consolidation is forming, but local prerequisites give an opportunity to the growth of the coin. On the local timeframe the price broke the trend resistance and is testing the upper boundary of the triangle. A break of the resistance will give the bulls confidence, which may provoke the formation of a rally. It is worth paying attention to 1.321. Consolidation above this area will be a strong confirmation of the trend change. Support levels: 1.120 Resistance levels: 1.25, 1.32 I expect the growth to continue after consolidation above the key liquidity area. Consolidation may move to the realization phase. Regards R. Linda!
Long
by RLinda
5
Bitcoin - new ATH soon. Best time to buy nowBitcoin looks very strong at this moment. We can see that the price is breaking out of the descending parallel channel on the daily chart. The price is above the channel and has already retested the downward-sloping trendline. We should see a strong pump from the current price.  Why is bitcoin pumping? From a technical perspective, it's pretty easy to say. Take a look at the previous price action. We have a false breakout below the key levels; it was a bear trap created by market makers to get as much liquidity as possible for their huge orders, as they cannot simply do so whenever they want.  From the Elliott Wave perspective, there is nothing bearish at this moment. I see that the corrective pattern WXYXZ has been completed, and we are starting a brand new impulse wave to the upside. The next target is around 71k because we have his important red trendline, so make sure you are aware of it. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
BITSTAMP:BTCUSDLong
by Xanrox
43