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Descending Channel

GOLD → Correction amid strong bearish trend OANDA:XAUUSD stops its fall after reaching our yesterday's target. After a false breakout of 1860, a counter-trend correction to resistance is forming. But why!? The price cannot fall all the time, after a strong movement to one side or another a correction is formed to increase liquidity - complex mechanisms of market management by big players. The price is approaching the area of 1875 - an important enough place to form further targets. Above 1878 a pool of liquidity is forming and most likely the price may form a retest or a false breakout before falling further. Maybe a sideways flat will form after a strong fall. But at the moment we have the background of a strong trend Key resistance: 1875, 1878 Key support: 1860 In the long term I expect a continuation of the fall, the reasons for this are given in the early ideas. But a small correction may follow before a further fall. Regards R. Linda
OANDA:XAUUSDShort
by RLinda
12
PEOPLEUSDT → A break of resistance opens up the new range BINANCE:PEOPLEUSDT forms a local bottom, breaks the resistance of the descending wedge and one of the key levels within the realization of consolidation. A new corridor is opened As BINANCE:BTCUSD tests a local high near 26800, an altcoin reaction is forming. Even though the SEC has postponed the adoption of BTC-ETF indefinitely, the market is getting a small influx of assets. Our attention is drawn to PEOPLE. The price breaks the wedge resistance and continues to form a consolidation in a weak market. Finally, the coin breaks through the key, for now, level of 0.01022. Consolidation of the price above the level will form a bullish potential, which my move into the phase of realization and within the medium-term perspective PEOPLE / TetherUS can reach 0.01433 and 0.0185. Altcoins have been strongly consolidating their energy lately, something may happen soon. Support levels: 0.01022, 0.00846 Resistance levels: 0.01433 I expect the price growth to continue after consolidation above 0.01022 level. Regards R. Linda!
Long
by RLinda
17
NZDUSD → Waiting for the bearish scenario to materialize FX:NZDUSD forms a breakout of the descending channel resistance and forms a symmetrical triangle. Breaking the resistance of the pattern could give a strong impulse, but amid the strengthening of the TVC:DXY there is little chance for that. The dollar continues to strengthen towards 107.5, as I mentioned earlier in my ideas. Against this background, the NZDUSD currency pair could realize the bearish side of the "symmetrical triangle" set-up. In this case, the price may break the support of the pattern (0.5902 level) in the near future and head towards the areas marked below. Globally we have a downtrend and lack of growth attempts. In technical analysis there is a "flag" setup - a figure that portends the continuation of the trend. This is exactly what I am expecting when the support area is broken. It is most likely, based on fundamental and technical factors, that the currency pair will continue its decline. Support levels: 0.5924, 0.5902 Resistance levels: upper boundary of the figure, 0.5990. In the long term, I expect a break of support with a subsequent fall in the trend towards 0.5750. Regards R. Linda!
Short
by RLinda
16
GOLD → Price continues to form a downtrendOANDA:XAUUSD is breaking another support line again. Bearish prerequisites, which I previously wrote about, putting the market in the phase of realization of accumulation, a high chance of continuation of the fall On the chart we see the formation of a global consolidation range. The price breaks the support at 1915.3. The correction after the breakout is formed, which flows into the consolidation phase. Price consolidation under the flat support will form a bearish potential and a convenient entry point for further sales. Earlier I wrote about strong sell-offs, all the resistance, retest, all this was the formation of a large bearish position. Last week we met Powell's speech, who did not give any specifics, but at the same time made it clear that the dollar will continue its strengthening. The index has discovered a new corridor that could cause gold to fall lower. The moving averages are forming another bearish signal. Resistance levels: 1915.3, 1922.4. Support levels: 1910, 1908 I expect the decline to continue after consolidation below 1915. A false breakout is possible, but the prospect is 1910, 1901 OANDA:XAUUSD COMEX:GC1! CAPITALCOM:GOLD TVC:DXY CAPITALCOM:SILVER COMEX:SI1! OANDA:XAGUSD Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
26
KNCUSDT → Coin shows strength in a weak market BINANCE:KNCUSDT stops its decline in late 2022 at 0.495-0.500, thus forming a bottom. The market holds this area quite confidently. And at some point, on the background of weak BINANCE:BTCUSD , KNC forms a resistance breakout, which could be the first bell On the chart we can compare the behavior of the last few days of BTC and KNC. The second one feels confident and is ready to strengthen further. While BTC has been in a falling phase for the last 7 days, Kyber network / TetherUs is strengthening already by 28%. Altcoins have been receiving more attention from speculators lately as they are livelier and more active. The latest retest of the 0.495 bottom on September 12 leads to the formation of a bullish momentum, within which the price makes an attempt to exit the descending range. After the breakout and correction, consolidation is formed above the resistance. If the bulls can finally keep the price above this line, we will be able not only to observe, but also to participate in the price growth to the targets indicated on the chart. The area above 0.955 is quite loose and price could quickly reach 1.200-1.400, but for this to happen we need to get momentum from the previously broken resistance. Support levels: 0.630, MA200, MA50 Resistance levels: 0.710, 0.834 I expect an active phase from the bulls' side. The first phase is consolidation. After which I will wait for growth to the mentioned areas. Regards R. Linda!
Long
by RLinda
17
EURUSD → The calm before the storm. Breakthrough ↑ or ↓FX:EURUSD continues to form a downtrend. At the moment we see a rebound from resistance and a retest of support at 1.06350, which ends with a slight strengthening of the currency pair EURUSD is waiting for a reaction from the US market, namely we are all watching the dollar index. It forms a retest of the strong resistance at 105.00 and forms a rather strong consolidation. If the price breaks the resistance, a very strong bullish impulse will be formed, which will affect the whole forex market. But there is a small chance that the 105.0 area will not let the price in and a correction will form, in which case EURUSD may break the trend resistance and form a shakeout to 1.0835. In priority, I expect a retest of 1.06350 followed by a breakout and a decline to 1.05000 Support levels: 1.06350 Resistance levels: 1.0685, 1.0765 The currency pair may break the line on the next support retest. We should be ready for the resistance breakout as well. Watch the reaction of TVC:DXY to the mentioned resistance area. Regards R. Linda!
Short
by RLinda
16
GBPUSD → UK bear market set to weaken further FX:GBPUSD enters a new range amid a global reversal pattern, as evidenced by the breakout of a strong liquidity area and the 200-day moving average At this stage it is difficult to talk about the strengthening of the price. The currency pair overcomes the mark of 1.24500-1.24000 and enters a new medium-term range, within which the pound can reach 1.20000. This movement can only be broken by strong fundamentals, such as the FOMC & FED press release today at 18:00 GMT . There is not much chance as the CPI (YoY) GBP showed a 0.1 point decline in the index and 0.3 points decline against expectations. The market is weak. From the technical analysis point of view, a small correction may now follow before a further break of 1.23725 and 1.23000 support and further decline to stronger support areas - these could be 1.22500, 1.22000 and 1.20100 area Resistance levels: 1.2458 Support levels: 1.23725, 1.2309 The market gives us medium-term preconditions for further decline, the fundamental factor of GBP market is now on the side of bears, it is necessary to wait for data from FOMC FX:GBPUSD TVC:DXY TVC:BXY Regards R. Linda!
Short
by RLinda
17
ATOM/USDT Review Chart Hello everyone, I invite you to review the ATOM chart in pair with USDT. First, we will use the blue lines to mark the downward trend channel in which the price moves in the upper range. Going further, we can move on to marking support areas when we start a larger correction. And here you can see that the price remains at the support zone from $7.08 to $6.09, but if we fall lower, the next support zone starts at $5.10 and ends at $3.70. Looking the other way, we see that the price currently does not have the strength to break the resistance at $7.90, but when it does, it will move towards the first resistance zone from $8.93 to $9.76, and then towards the second zone from $10.59 to $11.76, then we have strong resistance at $13.25. Please look at the CHOP index, which indicates that we are quickly regaining energy for a new move, on the RSI we are in the process of recovery, which creates room for new increases, but the STOCH indicator shows that the dynamic movement of energy gives a very small price increase on the chart, which may translate into price recovery again.
by cryptodailyuk
2
Caution : Hidden Bearish Divergence 🧐📉Understanding Hidden Bearish Divergence: Hidden bearish divergence occurs when the price of an asset is making higher highs, but the RSI indicator is forming lower highs. This creates a discrepancy between price action and momentum, suggesting that the bullish trend may be losing strength beneath the surface. Why Hidden Bearish Divergence Matters: Hidden bearish divergence is a sign of weakening bullish momentum, potentially signaling an impending trend reversal or correction. It can be subtle and easy to miss but may be an early warning of a trend shift, especially on longer timeframes. Proceeding with Caution: If you spot hidden bearish divergence on the Bitcoin chart, it's essential to exercise caution rather than panic. Consider it as a potential indication that the bullish trend may be losing steam, not an immediate sell signal. Confirm your analysis by looking at other technical indicators and market factors. Risk Management and Strategy: Implement effective risk management strategies, such as stop-loss orders, to protect your investments. Diversify your portfolio to spread risk and avoid overexposure to a single asset. Be prepared to adapt your trading strategy based on evolving market conditions. The Bigger Picture: Remember that hidden bearish divergence is just one piece of the puzzle. It's crucial to consider other factors like market sentiment, fundamental analysis, and macroeconomic trends. Stay informed about news and events that can impact the cryptocurrency market. Conclusion: Hidden bearish divergence can be a valuable tool for traders and investors, providing insights into potential shifts in market dynamics. However, it's not a guaranteed sell signal. Instead, it's a call to be vigilant, manage risks, and stay adaptable in your investment approach. In the world of cryptocurrency, where volatility is the norm, being a savvy investor means paying attention to both the obvious and the subtle signals. By doing so, you can make informed decisions that are more likely to lead to successful outcomes. Remember, a well-rounded approach to analysis and risk management is your best ally in navigating the crypto market's twists and turns. 📊🧐🚀
INDEX:BTCUSD
by AlexWhale
GOLD → Bearish Pin-Bar on Negative Fundamental Background OANDA:XAUUSD is testing the upper boundary of the global descending resistance again at the end of last week. The retest occurs at the moment of strong news, but the key candlestick pattern is formed exactly at the moment of FED & FOMC speech, as a result of which the market determines the further prospect of strengthening the dollar and hence - the fall in the price of gold. In the coming week the market is expecting a lot of important news and I recommend to pay attention to Thursday and Friday. Lots of data that can determine the medium term pespectives for us. For example: GDP (QoQ) (Q2) Initial Jobless Claims Fed Chair Powell Speaks Core PCE Price Index (YoY) & (MoM) Based on the FOMC position from last week we have some views on the market at the moment, but confirmation is also needed. As for the market situation. I recommend to pay attention to the dollar. During the publication of the data the index only fixed above the level I mentioned earlier and after that it starts to form an impulse. The price opens a corridor to the side of 106 and 107.99, in this case this growth of the TVC:DXY will give a huge potential for a fall in the price of gold. The nearest target support in the medium term is the level of 1902.8. On the chart above, I have indicated several important levels to pay attention to as the price approaches them. From a global perspective, gold is in a consolidation phase, as evidenced by the monthly chart on the main screen. A strong accumulation zone is forming relative to the resistance area. In the coming week, I expect a fall towards the 1915 side or even 1900. As we see a sideways range forming and a deep false breakout of resistance with huge liquidity below 1910, this clearly defines the future prospects for the market maker. Most likely the medium term outlook at the moment is that the market is ready to lose ground further, how long this will hold is unclear, but it all depends on the world view (especially the US) on inflation OANDA:XAUUSD COMEX:GC1! COMEX_MINI:MGC1! OANDA:XAGUSD COMEX:SI1! TVC:DXY Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
21
Descending Channel on EUR/NZD @ D1A descending channel pattern has formed on the daily chart of the EUR/NZD FX pair and offers a bullish breakout opportunity. 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 is to 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) - it isn't shown on the chart.
Long
by AndriyMoraru
💱 EURAUD - The market is preparing for further decline EURAUD is forming a local flat after breaking through 1.6658. The market is forming a retest of support, but there will be a chance of a breakout if the price comes back again after a small rebound TA on the high timeframe: 1) We have a bearish trend 2) A pre-breakout consolidation is forming near 1.64975 3) Another support retest may break the level and form an impulse to 1.61900 TA on the low timeframe: 1) Price is descending in steps within the bearish channel, which indicates a strong trend 2) Support at 1.64885 and multiple retests of it are forming. 3) The market is preparing to break this line and further fall. 4) The sell signal will be a retest and consolidation below the support level Key resistance📈: 1.66122 Key support📉: 1.64885
Short
by AndeWave
4
GBPJPY → Pound Sterling correction on the fundamental backgroundFX:GBPJPY is forming an attempt to change the trend. The market on the background of the fundamental component related to inflation and the UK interest rate breaks the support of the ascending price channel and fixes in the red zone The currency pair is forming consolidation and following the weakening of the Pound Sterling is heading downwards. From the point of view of technical analysis - the main potential target in the medium term is the support at 177.4 - the extreme point of the shakeout before the last rise. Most likely, when the Central Bank of Great Britain announced the halt of rate hikes and further rate cuts, the currency started to form a correction after the tight policy. After breaking the support, a correction to the previously broken boundary is formed on the chart and the currency pair consolidates for further decline. In the long term, I expect a medium-term decline in the price to the specified target. Support levels: 181.2 Resistance levels: 181.96 The medium-term target is indicated on the chart. Fundamental and technical analysis indicate further decline. Regards R. Linda!
Short
by RLinda
16
💱EURUSD - A retest of support will lead to a breakout EURUSD will weaken further. The reason for this is further strengthening of the dollar. News from the FOMC suggests further decline in the currency pair TA on the high timeframe: 1) The market is testing the support at 1.0635 2) The third retest is formed after 4 days - high chance of further support breakout TA on the low timeframe: 1) The descending price channel continues to form 2) False breakout this morning may give a small correction to 1.06750 before further support breakout 3) EUR support at 1.06350 could break quite quickly amid a weak market. A sell signal would be price consolidation below the level Key resistance 📈: 1.0675, 1.0707 Key support 📉: 1.0635
Short
by AndeWave
10
GOLD → Negative fundamental background. Shakeout OANDA:XAUUSD surprised many people yesterday, but not us. On the background of the previous days analysis (technical + fundamental) we had an idea about further actions on the market In brief: Powell left the rate unchanged, but there were a lot of words that if the market remains aggressive, they will apply appropriate measures. And considering the fact that based on all the FOMC & FED actions against inflation, it is only getting stronger, the market can be considered aggressive, hence, the fundamental backdrop for gold is still negative, as the TVC:DXY will continue to rise. In terms of technical analysis, gold is forming a false breakout of the following liquidity zones: 1928, 1935, 19466 at the moment Powell's speech ends and the market actively sells off the entire rise. On D1 the price again forms a false breakout of trend resistance, preparing the market for further decline. A retest of MA-200 on H1 with a subsequent breakout and decline to 1915 - 1900 may be formed soon Support levels: 1922, 1915, 1902 Resistance levels: 1928 I expect a possible retest of the nearest resistance areas before a further fall against the negative fundamental background and the current bearish trend OANDA:XAUUSD CAPITALCOM:GOLD COMEX:GC1! COMEX_MINI:MGC1! TVC:DXY TVC:BXY CAPITALCOM:SILVER OANDA:XAGUSD COMEX:SI1! Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
23