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Descending Channel

🥇GOLD - Market is increasing the chances of a support breakoutGold has been declining since the opening of the session with the result of -0.5%. Earlier a false breakout of 1943 was formed, most likely the price will continue its fall, but only after breaking the support of the bearish channel TA on high timeframe: 1) After breaking the support, the price forms a retest of 1938.9, but makes a false breakout 2) Liquidity area - 1924 (local target) TA on the low timeframe: 1) False break of resistance at 1943.3 forms a decline and a retest of the bearish trend support area 2) Price has previously tested this area and formed a huge liquidity pool, the breakout of which forms a strong downward momentum. 3) A quick retest is formed (after one trading session). The market is increasing the chances of a support breakout Key resistance📈: 1943 Key support📉: 1933.9
OANDA:XAUUSDShort
by AndeWave
15
AUDUSD,Bearish trend,Head and ShoulderGood afternoon, I hope everyone had a succesful trading week and week in their daily lives. Here is a pre market forecast for AUDUSD this upcoming trading week. Last week, AUDUSD was bearish for the most of last week. Toward the end of the week it began a retracement process. Price broke the daily supply/demand area @0.65944. Price is projected to continue bearish momentum to the next 4hr supply/demand area @0.65464. If price rejects this area, look for the head and shoulder formation to form to confirm this projection. If there are any questions, comments, concerns, or you may have a similar analysis to mine please do not hesitate to share, comment, and boost this post.
Short
by NoPumpFakesFx
🥇GOLD - The market is preparing for a recoveryGold is forming a false breakdown of a strong support line. The support and liquidity area formed forms a bullish rally. TA on the high timeframe: 1) False breakout. Price closes above the 1938 support line, gold may rise to 1950-1960 at the beginning of the trading week 2) Price is testing the liquidity area of 1942.8, the market may open with a gap or continue its growth if this resistance is broken. TA on the low timeframe: 1) A candle with a large shadow is forming on H4, the price closes close to the 1942 level after a false breakdown 2) The market is forming a potential to continue rising 3) Waiting for the trend resistance to be reached before considering any further setups. Key support📉: 1933 Key resistance📈: 1942
OANDA:XAUUSDLong
by AndeWave
10
GOLD → FB of flag support. Consolidation near resistance OANDA:XAUUSD continues to form a descending price range after the breakout of the bullish trend. A "flag" pattern is forming within the new channel, a false breakout was made on Friday There is not much important news in the coming week, but it is worth paying attention to Thursday and Friday, the reports may provide insight for the medium-term outlook. Bottom right chart - a flag is forming against the background of the upward momentum. On Friday, the price makes a false breakout of the support of the figure and in the first half of the new week there may be a strengthening of the price and growth to the resistance area. Within the global descending channel price is forming consolidation near resistance, most likely there may be a direct retest of the descending resistance in the area of 1858-1863, there may be an attempt to breakout. BUT again, if sellers are strong, and if you look at the chart, the bearish scenario is developing at the moment, a fall from the channel resistance, a retest of 1935 and a further fall to 1902 may follow. The price is in a range, it is worth paying attention to such levels as: MA50, trend resistance, support 1935.5 Regards R. Linda!
OANDA:XAUUSD
by RLinda
14
🥇 GOLD - A narrow flat could provide strong momentum Gold continues to consolidate and gather liquidity to move in one direction or the other. The NFP report will be released soon which will give a medium term view on pricing TA on the high timeframe: 1) Price has broken 1938.9 support and is forming accumulation below the level. 2) The market is preparing to develop medium-term interest. Consolidation below the support indicates that the market is ready for a fall 3) If after accumulation below 1938.9 the price goes back up behind the level, a strong momentum to 1950 will be formed TA on the low timeframe: 1) Trend support was previously broken 2) Price is forming a prolonged and narrow flat. There is a huge amount of energy forming inside 1932 - 1938. If 1930 is broken, a strong momentum to 1913 will be formed 3) BUT! If a false breakdown is formed (price returns inside the channel and breaks through 1940, a strong upward impulse will be formed. Key resistance: 1938-1940 Key support: 1930-1932
OANDA:XAUUSDShort
by AndeWave
9
GOLD → Consolidation below support ahead of NFP. Trap? OANDA:XAUUSD has been consolidating below the previously broken descending channel support for two days. From the basic fundamentals, this formation suggests a strengthening sentiment for further declines, but there are always nuances to it Analysts were expecting bearish news for the dollar, which was previously published, but the index is showing a bullish bias, suggesting an improving economy. Fitch downgraded the long-term rating of the US to AA+ from AAA This is not good news for the dollar, but still: The U.S. was downgraded to AA in 2011, which caused the market to fall hard, but earnings and economic conditions were different at the time. This downgrade by Fitch is not fundamental as the economy is growing and profits are rising to service this debt. In terms of technical analysis, after a rally to the 1980 area, a correction in the format of a flag-like descending channel is forming, but at some point things don't go according to plan and price breaks the channel support, forming a consolidation and forming liquidity before further declines. Ahead of NonFarm Payrolls and Unemployment Rate publication, analysts are expecting bearish data, but based on earlier press releases, the numbers could be the opposite, which could provide new bullish potential for the dollar, and gold could fall to 1900. Support levels: 1933, 1930, 1927, 1912 Resistance levels: 1943, 1954 In priority I expect the price to fall to the lower support levels, but the price can break the situation if the expected fundamental data is confirmed. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
21
🥇 GOLD - Price is breaking support but not falling yetGold is breaking a new milestone and breaking the support of the descending price channel. Price is consolidating between the downtrend line and 1933.9 support, pre-breakdown consolidation may break the support and price will fly downwards TA on the high timeframe: 1) Break of support at 1938 (lower boundary of the global range 2) Consolidation below the support is forming 3) Negative fundamental background for gold TA on the low timeframe: 1)Trend support is broken, price is consolidating lower 2)If 1933.9 is not broken, then there will be a false break of support and price will head towards 1950 Key support📉: 1933.9 Key resistance📈: 1938.7
OANDA:XAUUSDShort
by AndeWave
14
💱EURGBP - Distributive Growth. Retest of resistance EURGBP is in a sideways range amid a downward global trend. The price is testing the upper boundary, which plays the role of a strong resistance, where there is a high chance for a rebound TA on the high timeframe: 1) False breakdown of 0.8666 forms a fall to the support, thus the price confirms the presence of flat 2) Impulse is forming, most likely the area of 0.8650 - 0.8684 can be a medium-term target. TA on the low timeframe: 1) A distributive resistance retest is being formed. Such movements are quickly stopped by strong levels 2) Since we have a global downtrend and a range formed, a fall to 0.86000 is likely from resistance Key resistance📈: 0.8651, 0.8666 Key support📉: 0.86000
Short
by AndeWave
7
GOLD → Support breakout & consolidation. Fall after the shake-upOANDA:XAUUSD is breaking the range support, and on the daily chart the price is testing one of the key support levels. Here the candlestick analysis indicates the preconditions for further decline The price is breaking the support of the descending range. Consolidation of the price below the previously broken support is formed. Since the price is forming consolidation, most likely, while the market is gaining liquidity, false breakdowns (shake-ups) are possible relative to resistance and support of the conditional boundaries. On the daily timeframe, the price is testing 1935. The price on Wednesday closed quite close to the level, which indicates that the market is not ready to end the movement, it may continue. Important news is published today. It is worth paying attention to: Initial Jobless Claims, S&P PMI, Non-Manufacturing PMI, these are the nuances we dealt with on Sunday. Moving averages act as resistance Support levels: 1932.9 Resistance levels: previously broken trend support, 1938.5, 1943 I expect the decline to continue based on candlestick and technical analysis. The market has broken support and is most likely preparing for a continuation of the decline. But there is news ahead, it may change the situation significantly Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
33
FXSUSDT → Out of Range. It's up to the bulls BINANCE:FXSUSDT is squeezed within the consolidation boundaries of 7.174 - 3.910, but at the same time inside the range there is a prerequisite for a possible trend change and price strengthening A bullish pattern in the format of a "bearish wedge" is forming on the chart. The price is breaking resistance on the background of weak bitcoin. Investors are looking for potential in altcoins during a correction in the cryptocurrency market. Consolidation above 5.866 could form a bullish upside to 7.175, which would form a retest. In this case, the market will get the potential to break the resistance of the 7.175 range and further growth. There is no pronounced trend, the price is forming a sideways range based on the bottom of 3.910. The market may slowly but try to reverse. Support levels: 5.866, 3.910 Resistance levels: 7.175 I expect the formation of bullish support with the last retest of 7.175 aimed at the breakout of the range and further growth. Regards R. Linda!
Long
by RLinda
10
GOLD → Resistance pressure on D1. Waiting for news OANDA:XAUUSD is forming a descending range after breaking the local trend. On D1, the chart is showing strong pressure from resistance and is forming a descending triangle which could give a strong fall, but there is news ahead... The price is testing the support at 1943 with the last move, making a false break and thus updating the local low to 1941.29. Based on the situation on the local timeframe and on the D1 we can say that the sellers are stronger, the fundamental background of the last trading week adds some confidence for this. Today ADP NonFarm Employment Change is published ( analysts expect a decline in the indicator, therefore the dollar may react negatively ), this press release can give us a rough mood for Thursday and Friday ( INJ, ISM, Nfp, UR are published ) Still, technical analysis initially lays a large percentage of the expected movement, even before the publication of the news and at the moment there is a preponderance of forces in the direction that the market is preparing for a fall. When enough weighty news is published, this imbalance may shift and in this case the price may break 1954, 1960 and head towards 1974 Support levels: 1943 Resistance levels: 1954, 1960 In priority I expect a decline to 1943 with the subsequent breakout, but on the background of news the price may act unpredictably and break the resistance. Watch the price reaction. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
29
💱 EURCHF - A reversal pattern. What to expect from it? EURCHF is forming a reversal set-up. Against the backdrop of the global downtrend, this doesn't tell us much, but if the price overcomes the resistance, a quick trend reversal could be in order TA on a high timeframe: 1) Strong bearish trend 2) Price continues to fall and test the bottom 3) Liquidity area that may be of interest to the market is above 0.96500 TA on the low timeframe: 1) A reversal setup is being formed relative to the 0.95987 level. 2) Consolidation between H&S base and 0.95897 support is possible, after which growth may follow 3) Bullish momentum may reach 0.96770 as this area is a global liquidity area. Key support📉: 0.95987 Key resistance📈: 0.96500
Long
by AndeWave
6
💱 NZDCHF - Pre-breakout setup. The market is getting to fall NZDCHF continues to observe a multi-month bearish trend. This time price finds limit support at 0.53362 and continues to make an onslaught on this zone. TA on the high timeframe: 1) The strong bearish trend continues. Price is unable to update the local highs 2) Flat (consolidation) is being formed. Within the consolidation, the price is approaching the support for another breakout TA on the low timeframe: 1) A bearish channel is formed. The price bounces off the resistance and tests the support 2) The currency pair is squeezed between 0.54000 and 0.53360 3) Another (4) support retest is formed. Under market pressure after the next test, the price may break the support and head lower towards 0.52500 Key support📉: 0.53360 Key resistance📈: 0.54000
Short
by AndeWave
14
📈🐂 EURUSD Technical Analysis: Bouncing on Demand Zone! 🚀🐂Hey traders! 🐂📈 Exciting times ahead as we've got a bullish setup on the EURUSD forex pair in the 1-hour timeframe. Let's dive into this opportunity! 📈🐂 💹 Demand Zone Bounce: The price action bounced strongly on the demand zone, indicating an area where institutions have placed their orders and are likely to defend this level. 📈 Descending Channel Breakout: Adding to the bullish momentum, the price broke out of a descending channel and retested it successfully, signaling the start of a highly potential bullish impulse. 💡 Take Profit Zones: As we ride this uptrend, my take profit zones are strategically placed at 1.11300, 1.12000, and finally, my target at 1.12600. Keeping an eye on these key levels is essential for managing the trade effectively. 🧐 Remember, trading requires careful analysis and risk management. Let's keep a close eye on this setup and make the most of potential trading opportunities. Wishing you success in your trading journey! Feel free to share your toughts in the comments section, follow me for updates and don't forget to press the like button if this insight was helpful🚀
by Thomas_Zito
18
Bitcoin - Secret pattern no one talks about! (insider info) This secret parallel channel on the LOG scale is very important for your trades because you want to take profits if the price reaches the top of the descending channel! This is a dynamic resistance, so the trendline changes over time, but currently the resistance is around 39K. 39K is a strong level not only because of this channel but also because of the 0.618 FIB retracement of the previous huge downtrend and the POC of the previous market structure (volume profile). This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately! What I expect is for Bitcoin to reach the 39K level and then make a significant correction. This correction should be pretty deep. Because we will be retracing the first Elliott impulse wave, the 0.618 FIB is a classic buy opportunity, and it's around 21k. After we reach 21K, I expect Bitcoin to pump heavily to the 69K all-time high resistance. This is indeed a strong level as well, so this could be the peak of the 3rd Elliott impulse wave. The 5th wave is expected to end around 100k–110k in 2025. This is my gameplan; I don't know what yours is, so let me know in the comment section right now! Set up notifications for my ideas so you will be alerted in your email when I publish new analyses immediately! You may say that 110k is not enough and that Bitcoin should do much more than that. Yeah, I agree with you, but we need to be realistic. Bitcoin is already pretty big and has a large market capitalization. What's more, on the chart, you can see the major parallel channel on the LOG scale that started in 2017, and I don't think the bulls want to make some crazy parabolic move above this channel! Thank you, and for more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
99
ALGOUSDT → Bottom retest. False breakdown before the impulse BINANCE:ALGOUSDT is testing the bottom at 0.0958 in a false breakout format, which could trigger a rather strong rebound as it took more than 3 years for the second retest. Such long retests form a voluminous pool of liquidity that can hold the onslaught. Price is forming a bearish wedge within the downtrend and after a bottom false breakout , price recovers and breaks resistance. The key support level at the moment is 0.1070. Consolidation above the level is forming, forming an entry point. On the background of altcoin market revival, our coin may show good potential in the near and medium term. Support levels: 0.1070, 0.0958 Resistance levels: 0.1225, 0.139 I expect consolidation above the above support with further upward impulse. medium-term target is 0.1607 and 0.2376. Regards R. Linda!
Long
by RLinda
14
GOLD → A temporary respite after a high jump OANDA:XAUUSD continues to form a bullish trend, indicating strong interest in the market. The strong rally is moving into a narrow consolidation, which may hint at certain implications Yesterday we saw a breakout of the local consolidation and a gorgeous 200 pips momentum. The price is testing the resistance at 1981.7 and forming a 110 pips wide fljt. Gold may test the support and start strengthening again or form a consolidation near 1981.8. At the moment, since there is a strong trend, we should consider either a rebound from 1970 or a breakout of 1981. The growth may continue and the price may test 1993 soon. The moving averages indicate a strong bullish trend. The daily timeframe is forming a candlestick that gives a prerequisite for a breakout of 1981 in the near future. Support levels: 1975, 1970 Resistance levels: 1981.8 I expect consolidation with the subsequent breakout of 1981.7. In the long term I expect growth to 1993 and 2000. Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
28
GOLD → Support shake-up followed by resistance retest OANDA:XAUUSD is forming a shake-out of consolidation support. Thus, after the retest of the previously broken boundary (as I talked about yesterday) there is a consolidation and resistance retest that could lead to a breakout and rise to 2000. Gold is testing the support area, forming a liquidity grab and thereby increasing the potential for the upside to continue. Earlier, the price confirmed the break of the bearish trend. Yesterday's retest of the previously broken boundary is another confirmation of the fact that at the moment the bullish trend prevails in the market and in our case we should look for either strong support to buy or resistance to trade with the "breakout" strategy. Against the backdrop of correction and falling dollar, gold is feeling good confidence. A breakout of the 1962 consolidation resistance will give a new breath to the market. The moving averages are acting as support. Resistance levels: 1962 Support levels: 1959, 1954 I expect a break of resistance either now or after another retest with subsequent growth. Medium-term outlook 1970, 1981, 2000. Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
11
NZDCHF → Activity of dynamic sellers forms a triangle FX:NZDCHF is forming a multi-month descending triangle. Globally, the currency pair is under downtrend pressure. What's going on? Buyers are forming the limit zone at 0.5444, sellers continue to press this area since the end of April, thus a descending triangle is formed on the chart, which speaks for itself. False breakdown of the support does not give the result and we see an attempt of another retest of the support level. Formation of the subsequent test or pre-breakdown consolidation will form the momentum that can break the mentioned support and form a bearish impulse towards 0.5350. But, if the buyers hold the zone, the price will head upwards. A breakout and consolidation of the price above 0.5496 will be a buy signal. Support levels: 0.5444 Resistance levels: 0.5496 I expect the support breakout based on the technical feature of the currency pair at the moment. Medium-term target is the support at 0.5350. Regards R. Linda!
Short
by RLinda
16