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Descending Channel

🥇GOLD - False breakdown of global resistance Gold after breaking the channel support falls down and almost tests the key support of 1910, but during a quiet session and lack of liquidity the price goes into consolidation. TA on the high timeframe: 1) A false breakout of downtrend channel resistance is forming. We see a bearish reaction. 2) The nearest liquidity is below 1910 and the price can test the area TA on the low timeframe: 1) We see consolidation between 0.382 and 0.236 Fibo. A retest of the resistance could form a false-break and in that case the price will head towards 1910 2) Relative to the global price channel, gold has the potential to go down to 1840, but it needs to get past 1910 and 1895. 3) The market is bearish and most likely continues to prepare for further declines. Key resistance📈: 1912 Key support📉: 1910
OANDA:XAUUSDShort
by AndeWave
11
💱GBPUSD - Retest resistance of the descending channel GBPUSD forms a retest of 0.236 Fibo and the resistance area of the new descending price channel and is preparing to continue falling. TA on high timeframe: 1) Price from resistance 1.28484 forms a correction to 0.382 fibo and enters consolidation between the nearest levels. 2) The fundamental background for the pound against the dollar takes a negative side. The Fed is not going to cut rates. TA on the low timeframe: 1) A downward price channel is forming. The price is testing the resistance area. 2) The price makes a false-break of 0.236 Fibo and the nearest target is 0.382 - 1.26420. 3) Within the descending price channel the price may go down to 1.25450. Key resistance📈: 1.27279 Key support📉: 1.26400, 1.25770
Short
by AndeWave
9
SOLUSDT → A breakout resistance could give momentum to 25.00BINANCE:SOLUSDT forms the bottom at 9.39. After the formation of the global low, the price forms a prolonged consolidation near resistance and now the phase of realization of the accumulated potential begins. What to expect from the price in the medium term? Moving averages are showing a strong consolidation. A descending wedge is forming. On the chart I marked the key level of 20.00, which plays a rather important role after the price breaks out of the range. Buyers will have to try hard to hold this area. If the price consolidates above the 20.00 level, the potential for a medium-term long trade to 25.82 will open. Against the background of bitcoin strengthening SOL continued to consolidate and shows weakness in the market, but while bitcoin stands still we see a bullish reaction from SOL. Support levels: earlier broken channel boundary, 18.22, 16.00 Resistance levels: 20.00, 22.4 I expect a bullish price reaction to break resistance of the multi-month price channel. A breakout of the level of 20.00 may form a strong momentum towards 25.82 Regards R.Linda!
Long
by RLinda
11
GOLD → Is further decline possible? What is going on?OANDA:XAUUSD is in a correction phase. The global trend on the chart is bearish. There are several preconditions for a possible further fall. What is going on and what to expect from the price? We see a breakout of the global price channel and the formation of an upward correction. I drew a local support line to make the situation clear. Price breaks support after a strong resistance area appears on the chart. The bears increase volumes and start to pressure the market. On the daily timeframe we see an attempt to break the uptrend. The price forms a correction to the resistance area. The correction may confirm the market's intentions, after which the price will start to fall, but for that we need confirmations. That might be a breakout of supports 1920 and 1912, in which case the price will head towards 1893, which will be a retest of support - a signal for a further breakout. Support levels: 1920, 1912 Resistance levels: 1926, previously broken support, 1933 I expect a retest of 1920 with a possible breakout as the bears increase their activity. A retest of 1912 will form a breakout attempt, which could also be successful. I wait for the decrease. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
29
EURGBP → The market is getting ready to continue falling FX:EURGBP is forming a counter-trend correction to increase liquidity and accumulate potential for a possible further decline. The trend is bearish and now there are signals that could continue the trend Note the local uptrend channel. This is most likely a correction on the background of a bearish trend. Price can't go down all the time, so the market needs to make these maneuvers. The price broke through the support of the correction, we expect the price consolidation. At the moment, the support of the ascending channel and the level of 0.85412 plays a key role. Consolidation below these areas will form entry points for possible sales. The moving averages have moved towards resistance. Impulse is forming. Support levels: 0.85412 Resistance levels: the earlier broken through channel boundary, MA50, 0.86000, MA200 I expect continuation of falling after the price consolidation under the specified levels. Most likely, the trend will continue. Regards, R.Linda!
Short
by RLinda
15
🥇GOLD - A counter-trend correction may end up GOLD is forming a counter-trend correction within the ascending price channel. The momentum appears after breaking through the wedge resistance. But at the same time the price is under strong resistance 1938 TA on a high timeframe: 1) Price forms a global downward price channel. 2) The market is recovering and a retest of the trend resistance area will happen soon 3) Also ahead is the level of 1938, which plays a key role in the mid-term. TA on the low timeframe: 1) The local price channel is forming on the background of a global bearish trend. 2) The price is headed towards the resistance of 1932, most likely, it will succeed to break through this area, as the retest is formed 3) We are interested in the channel resistance at 0.618 Fibo, which may push the price down to the support 4) The correction is formed on the background of a global downtrend. Chances are high that the fall will continue Key support📉: 1921 Key resistance📈: 1932, 1938.
OANDA:XAUUSDShort
by AndeWave
21
GOLD → The limit level of 1920 pushes the price up OANDA:XAUUSD strengthens to 1931 and reaches its local target. The resulting pullback forms a strong limit area formed by buyers 1920. What could this lead to? Locally, I expect the price to rise to the local targets and liquidity zones, as the price cannot fall all the time. Such zones are: 1933, 1935, 1939 The daily technical analysis points us to a break of the uptrend and the formation of a correction. The trend correction can confirm the break and after the retest of one of the key resistance levels, which is 1935-1939, the market can activate the volume bears and the price will continue the implementation of the trend breakout. At the moment we are interested in the resistance area of the range. The price may reach it in the near future and then we will follow the price reaction to this area. Here is a likely scenario: Support levels: 1920, 1912 Resistance levels: 1933, 1935, 1939 I am expecting growth this week, but in the long term I will consider a fall, as TA on D1 is pointing this way Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
31
C98USDT → Realization of accumulated potential BINANCE:C98USDT enters the phase of realization of the accumulated potential. A prolonged trend may change its direction, but in order to do that the bulls will have to take the priority in their hands. Global and local wedge are marked on the chart. The resistance boundaries of the figures coincide and the price breaks the area, consolidation is formed in the green zone and C98 starts to form a bullish momentum. For the buyers, the resistance at 0.1751 is important at the moment. If the price breaks through and fixes above this area, the cryptocurrency pair can form a bullish momentum. Resistance at 0.3258 will be the priority target in this case. Lately bitcoin is strengthening and forming consolidation of 30000-31000. A breakout of resistance will also give momentum to altcoins. Support levels: MA-50, 0.1540, 1.1209 Resistance levels: 0.1751 I expect the retest to 0.1751, which might end up with a breakout of resistance and in this case the price will continue growing. I am interested in the target of 0.3258 and 0.5750. Regards R.Linda!
Long
by RLinda
20
🥇GOLD - Breakthrough Wedge. Price could strengthen Gold breaks the wedge resistance and forms momentum to retest 0.382 Fibo. Buyers are able to strengthen the price from 1910 to 1932, it all depends on whether the price can form a consolidation above the support. TA on the high timeframe: 1) A bounce from 1893 is forming. In terms of technical analysis the price makes a test of 1938. On the background of a bearish trend, the price can bounce from 1938. 2) The liquidity area, which may be of interest to the whales, is around 1938. 3) Before a further decline, a correction could lead price to strong resistance TA on the low timeframe: 1) Retest of 1910 support (Fibo 0.236) will show further price direction. 1.1) Consolidation above 1910 will form an entry point to buy 1.2) Breakout and consolidation of the price below the level (within the wedge) will form an entry point to sell) 2) The bulls are trying to take control of the situation. 3) An attempt to change the local trend is formed on the chart. This situation may lead to an increase to 1932 Key support📉: 1910 Key resistance📈: 1921
OANDA:XAUUSDShort
by AndeWave
17
💱USDCAD - A reversal pattern and a trend changeUSDCAD breaks the downtrend and forms a reversal pattern. Good potential for strengthening of the currency pair begins to appear TA on high timeframe: 1) On d1 the situation is complicated. Consolidation is formed inside the channel 0.91200 - 0.88595. 2) It is acceptable to buy if the consolidation is above the level of 1.32600 or above the base of the pattern H&S. TA on the low timeframe: 1) A local bottom of 1.31200 is formed, to which price reacts in a "rally" format 2) Resistance is broken and after the channel resistance is retested, the price retests 1.32600. 3) Breakout and consolidation of 1.32600 will form a counter-trend entry point into a long position. In this case there is a chance to strengthen to 1.3383 Key support📉: 1.3206, 1.3177 Key resistance📈: 1.32600
Long
by AndeWave
11
GOLD → Breaking the trend on Friday, BUT...OANDA:XAUUSD market is still bearish. Breaking through the resistance of the descending channel may not play a key role. The price is in a global wedge and we see a bounce forming from support. On Friday, we saw a strong rally that many did not expect. The price was bullish on the inflation related news. Looking at the technical picture some things might become clear. Pay attention to the D1 chart below. A global wedge is forming. At the moment the market is still in a consolidation phase in a downtrend format. The retest of the wedge resistance is forming. At the moment, there are no prerequisites for the price to break the resistance of the wedge in the area of 1935-1939. Breaking through this area will form a strong momentum that will start to strengthen the price. At the moment there is a high probability of price fall from resistance. Consolidation may continue. The Fed is not going to cut rates, therefore, the strengthening of the dollar after a small correction may continue, and gold may fall in the medium term. Support levels: 1912 Resistance levels: 1920, 1938 I expect a correction to the support and possible strengthening of the price to the resistance. If the price breaks through 1912, it will head towards the area of 1902. Regards to R.Linda!
OANDA:XAUUSD
by RLinda
32
XLMUSDT - Breaking through bearish trend resistanceBINANCE:XLMUSDT forms the bottom, relative to which the price develops positive dynamics. After testing 0.0758, a rally is formed and the price makes a retest of the trend resistance. As we can see, a three-day accumulation is formed in relation to the resistance. The market is obviously ready to continue rising, but in order to do that the price needs to overcome the resistance. The resistance at 0.1035 is worth mentioning. The bulls may fight hard for this level and if they manage to hold this area, the coin will show a good result in the middle term, because the level of 0.1035 is the range support, whereas the resistance and the target for the price may be the upper boundary at 0.1305. Support levels: 0.0959 and 0.0987. Resistance levels: upper trendline, 0.1035, 0.1130 I expect a confident bullish position above the level of 0.1035. An indicator for this will be consolidation above the level. Medium-term perspective - growth up to 0.1305. Regards R. Linda!
Long
by RLinda
12
GOLD - Negative fundamentals are bad for the price OANDA:XAUUSD forms a new local low and then makes a retest. The bearish scenario continues, which tells us that gold will continue to red, unless, of course, the fundamental backdrop takes the opposite direction. The phase of realization of the accumulated potential is forming. When the support of the 1939 range is broken, there is a new downtrend in a channel format. On the chart we see the downtrend range, the price clearly observes the limits and on Wednesday it forms a new local low of 1902. On Thursday we see the return of the price to the retest of the support. Hence, there is a possibility of a breakout of 1902 and further declines. Either the bears are strong or the fundamental background is influencing the bulls. The moving averages are showing a strong downtrend. Support levels: 1902, 1895 Resistance levels: 1912, channel resistance, 1928, SMA200 Since the chart gives us plenty of bearish suggestion, I will continue to hold the view that price will continue to fall. Pay attention to D1, price is only in the middle of the range, the target could be support 1800 Regards, R. Linda!
OANDA:XAUUSDShort
by RLinda
28
GOLD → Price is testing 1912 support for a breakout OANDA:XAUUSD is preparing for further declines. Bears on the basis of negative fundamentals are not going to give up. Another retest of support is forming, which increases the probability of further downside Closing of the daily candlestick on Tuesday is very close to the indicated level of 1912.5. The retest is formed - the market checks the support area. Price starts to consolidate below the local bearish resistance and near the level of 1912.5. Based on the technical analysis we see a very high probability to break through the support (a deep false breakout is possible). But we consider support at 1895 as a medium-term target. But again, if today's news affect the gold prices and if the resistance is broken through, we might see an increase to the upper boundary of the range. The moving averages are pointing to a global stop and an attempt to change the bullish trend. Support levels: 1912.5, 1895.5 Resistance levels: 1917, 1920. The retest gives a strong signal. For this reason, on the background of the falling market, I expect a breakout of the key support with a further decline to 1895. Regards to R. Linda!
OANDA:XAUUSDShort
by RLinda
26
GOLD → Symmetrical triangle on a falling trend OANDA:XAUUSD continues to form a sideways range of 1938 - 1912. But if you look closely, we see a symmetrical triangle on the downtrend. What can happen to the price? The triangle can affect price both bearishly and bullishly. If sellers hold resistance, price will move to the lower boundary of the pattern - the chance of further declines will increase. But if the price breaks the resistance of the triangle, it will go to 1938, the chance that the price will break 1938 is not high enough. We have a strong bearish trend and resistance levels play a key role. In the medium term I expect price to fall to 1912-1900. Resistance levels: upper limit of triangle, 1933, SMA200, 1938 Support levels: 1928, 1922, lower boundary of the triangle I expect a resistance retest, but since the bears are quite strong at the moment and the fundamentals are not so good, I expect a fall to 1912 - 1900 Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
24
NEARUSDT → Double bottom and range breaking BINANCE:NEARUSDT forms several key setups which are quite strong prerequisites for further growth. What to expect from the price? A double bottom is forming at the level of 1.229. The formation period is 7 months. Price is accumulating a huge amount of energy during this period while a range (consolidation) of 1.229-2.596 is forming. At the same time the price breaks the resistance of the descending wedge. In that case, if the bulls hold their positions above the previously broken line, we will see a rise to the upper boundary of the range in the medium term. A breakout of 2.596 will take the price to 3.361. The moving averages are still as resistance, but MA-50 has been tested and may be broken soon. Support levels: the previously broken range boundary, the level of 1.229 Resistance levels: MA-50, 1.800, MA-200 I expect predictable reaction from the bulls. A consolidation above the previously broken line will form an entry point to long positions, and after that I will wait for an increase to resistances. Regards R.Linda!
Long
by RLinda
14
GOLD → Consolidation is formed after a trend breakThe market stops OANDA:XAUUSD fall at the local support level of 1912. On Friday, we saw a redemption of the fall, but the price could not overcome the resistance. The retest sent the price down. There is a sideways formation of the range between 1938 and 1912. The price might test one of the key resistances, but there is not much of a potential for the buyers at the moment. Yesterday we analyzed the situation in the high D1 time frame and mentioned that the price broke the uptrend, and if the gold crosses below 1910, it will move under the red zone. The MA50 acts as a local support and the MA-200 keeps pushing the price as resistance. Most likely high volatility may not happen and the price will stay in the above range for some time. Support levels: 1924, MA-50 1918, 1912 Resistance levels: 1928, 1938, MA-200 I expect continuation of the consolidation formation, but in the medium term I expect a fall from the resistance, a possible retest of the support of 1912 and further fall after a breakthrough. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
27
BTC when will the breakout be LONG~please read~Hello traders🌍🆗 We have a possible cup and handle on the daily view ☕ We are currently in a descending structure that has been forming over the last month. Bitcoin price ascended to a sharp test of the top of structure ▶ We made a similar structure just upsidedown May of last year ⏬ I am watching 👀out to see if we reach 25k as a potential buy zone We could also go back up for a retest. What do you think?? Any thoughts 💭💡, questions 🙋‍♀️🙋‍♂️❓, good 👍, bad👎, happy 😄 or sad 😥, in the comments always welcome. 🖖🎉🐶📈📉🤍 Jazerbay
COINBASE:BTCUSDLong
by jazerbay
4
Bitcoin Make or Break At Channel ResistanceBitcoin tagged the upper line of the downtrend channel yesterday after drifting higher over the weekend. It's make it or break it time as a failure to move up and out of the downtrend channel will likely result in a re-test of the lower channel line. Regardless of what you might hear, the SEC suing Coinbase and Binance is not bullish for cryptocurrencies. BlackRock filing for a Bitcoin ETF is also not bullish and likely will signal a top in the market if approved, much like when we saw the Bitcoin futures market come online during the 2017/2018 crypto bubble and the IPO for COIN during the 2020/2021 bubble. The only difference being that Blackrock is filing for a Bitcoin ETF during a bear market while the other two occurred during bull markets. My second largest position right now is short Bitcoin via the BITI ETF.
INDEX:BTCUSDShort
by PrepForProfit
DOGE - 81% crash is starting! (Sell all your coins, no time) If you haven't sold DOGE, you should do it as soon as possible because otherwise you will experience a critical 81% crash. But fortunately, I am here to protect your funds, and in this analysis, I will tell you why this crash is going to happen! First of all, we can clearly see that the price is moving in the descending parallel channel on the macro-weekly chart. The price is inside the channel, and we have a total of 5 touches. This is definitely a valid parallel channel on the LOG scale, and Doge remains in bearish mode. What's more, there is a bearish head and shoulders pattern, and the price is very near its neckline. You still have time to react, but the crash could be very steep and disgusting, so what you want to do is short Doge instead on the futures market if you want to make money on this coin. In April, Twitter changed its logo to the Doge coin logo. It was supposed to be bullish, so everyone was buying like crazy, but instead the price went down even below the starting bullish candle. It was clearly an April joke from the Twitter owners, and there was no plan to start a bull market. So why do they do that? Clearly, the investors that bought the news are at a loss, and an 81% crash is starting so... The bottom could be at 0.618 LOG FIB, but I think we are going to go even lower than that. But this is definitely a good level, so you can buy Doge at the FIB for a short-term bounce and make money. It's going to be a great trade. Make sure you do not forget about this upcoming trade with a 200% profit. I will, of course, notify you about it, so set up notifications for my ideas so you will be alerted in your email when I publish new analyses immediately! 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 post trade setups privately. Overall, Doge is bearish, but I believe we will see a new all-time high, but it's not going to be soon. This coin is not going to zero, as it is valuable. We need more time so the whales can buy this coin at a cheap price! Thank you, and for more ideas, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
139