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Descending Channel

Gold on the Brink: Major Price Shift Expected – Will It Surge?Key Observations: 4HR Channel: The price is operating within a larger ascending channel on the 4HR timeframe. This channel is guiding the overall bullish momentum seen in the price action. Weekly Flag: The upper trendline of the weekly flag intersects with the current price movement, suggesting that this is a significant resistance level. The price is showing a potential reversal as it interacts with this upper boundary. 15M Channels: Ascending Channel at the top of the 4HR channel: This smaller ascending channel within the larger 4HR channel might suggest a short-term bullish continuation, but it's also positioned at a critical resistance level, indicating a possible exhaustion point. Descending Channel: Indicates a corrective phase within the overall uptrend. The price broke out of this descending channel, which led to the recent upward momentum, aligning with the weekly trend. Potential Scenarios: Bullish Continuation: If the price manages to break above the ascending channel at the top of the 4HR channel, it could signal a strong bullish continuation. The price may retest the upper trendline of the weekly flag before further advancing. Bearish Reversal: Given the significant resistance from the weekly flag’s upper trendline and the upper boundary of the 4HR channel, a rejection here could lead to a decline. This might trigger a correction back down towards the lower liquidity zones (LQZ) marked on the chart. Considerations: Liquidity Zones (LQZ): The 15M LQZ around 2,485-2,477 is crucial. A break below these levels might confirm a bearish reversal, while a bounce could suggest accumulation before another upward push. Mass Psychology: As price approaches the upper resistance levels, watch for potential signs of exhaustion or overbought conditions, which could reflect a shift in trader sentiment, leading to a reversal. Strategic Approach: Risk vs. Reduced Risk Entry: If looking to enter a trade, consider the possibility of a reduced risk entry on a corrective pullback to the lower 15M LQZ if the price respects these levels. Alternatively, if the price breaks above the ascending channel, a riskier entry might be taken on the breakout, with stops placed just below the channel's boundary. Multi-Touch Confirmation: Watch for a third touch or more on either the upper resistance or lower support levels to confirm a potential reversal or breakout, as per the rule of three discussed in your uploaded materials​​​. This setup requires careful monitoring, especially at critical support/resistance levels, to determine the next directional move with confidence.
OANDA:XAUUSD
by Adlercon333
4
GBPCHF Down Trend ChannelGBPCHF is currently making lower lows, signalling a bearish trend. It recently hit the 50% retracement level on the daily timeframe and is now approaching significant resistance around 1.12500, near the upper edge of the channel. The price has been consolidating since April but has since broken out of that range. The market is now pulling back to retest the lower boundary of the former consolidation zone. This could be a classic breakout-pullback-continuation pattern. The last two daily candles are doji candles, indicating market indecision. If the price breaks below the lows of these doji candles, we could see an impulsive move down, reinforcing the bearish sentiment. The target is the support level at 1.09875
Short
by RTED_Investing
USDCAD → The currency pair is preparing to decline. Target 1.360FX:USDCAD for the last few days does not show any preconditions for a pullback or growth, forming a pre-breakdown consolidation relative to 1.372. The fall of the dollar can provoke a breakdown.... Technically, the price is returning to the range of 1.3755 - 1.3600. The bears are holding resistance, forming a descending triangle under the upper boundary of the range, which is generally a prerequisite for a fall. The only possible target in such a case could be the range support. According to the survey conducted by BofA among investors, more and more traders are betting on the decline of the dollar. The general policy of the Fed is also putting pressure on the index. The currencies may go into a strengthening phase.... Resistance levels: 1.3755, 1.3787 Support levels: 1.372, 1.3655 Technically, the currency pair is forming a local downtrend, and the intermediate patterns play the role of triggers for the continuation of the movement. Accordingly, I continue to expect that the currency pair may decline to 1.36 Rate, share your opinion and questions, let's discuss what's going on with ★ FX:USDCAD ;) Regards R. Linda!
Short
by RLinda
8
Descending Triangle Patter in SBILIFE For Target @1751+On the 1-hour timeframe, SBILIFE has broken out of the resistance level of a descending triangle pattern. This breakout is a significant technical event, suggesting a potential strong upside rally. Following this breakout, the price is expected to move towards the 1751+ level, indicating a bullish trend. To capitalize on this movement, traders can consider entering a long position once the price sustain above the 1700 level. The targets for this position would be in the range of 1735 to 1751+, aligning with the anticipated upward momentum. It is crucial to manage risk by setting a stop loss just below the 1665 level, which will help protect against potential downside if the market reverses.
NSE:SBILIFELong
by TradZoo
2
NOTCoin → Pullback after a false breakdown. When is it going up?BINANCE:NOTUSDT on the background of the rally ( together with TON ) strengthens and updates the maximum 0.0129, thus forming a retest of the wedge resistance. The attempt is unsuccessful, the reaction is a pullback to the liquidity zone. Fundamentally interesting project in the medium and long term can still show good growth, but for this developers need to try. The prospects of Notcoin will depend on the innovations developed by the project, its marketing strategy and the state of the overall cryptocurrency market. Technically, a false breakdown of the wedge resistance is forming amid bitcoin's decline. The price may test the liquidity area of 0.0105 and then a retest of the resistance may follow. I do not exclude the fact that the support may be broken without any corresponding reaction, in this case we will wait for a retest of trend support. Resistance levels: 0.1294 Support levels: 0.01053, 0.00912 Accordingly, any breakout and consolidation of the price above the wedge resistance will be a strong signal for further rally. As long as the price has not left the range, it is worth considering trading inside this pattern. Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:NOTUSDT ;) Regards R. Linda!
Long
by RLinda
10
BITCOIN → Why didn't we go above 70K? The reason for the drop...BINANCE:BTCUSD has been in consolidation for 5 months. The price makes another retest of the 70K resistance, but due to several reasons failed to pass this area. A correction inside the FLAG is forming From 70K resistance another correction to 64K has started. The reason for this is strong bullish sentiment after the US allowed bitcoin as a reserve asset. There is also a lot of attention to BTC because of the presidential race. Accordingly, the Market Maker eliminates the positive crowd (the price always goes against the crowd). And whales start buying the asset at cheaper prices. On Friday, the NFP report and unemployment (up 4.0% to 4.3%) influenced the price drop. Rising unemployment + rising inflation had a negative impact on the markets. It is too early to buy, we should wait for the slowdown of the movement and stronger data. Resistance levels: MA-50, 63250, 68570 Support levels: MA-200, 59300, 56500 Technically, the price is testing MA-200 and is squeezed above MA-50. If MA-200 fails to hold the price, bitcoin may go down to the lower boundary of the FLAG before a buyer can take over the situation. BUT, if the bulls hold MA-200 as support and manage to consolidate above 63300, a rise may be waiting. Overall, the fundamental background is very positive, but local economic data has a negative impact on the markets. Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:BTCUSD ;) Regards R. Linda!
BITSTAMP:BTCUSDLong
by RLinda
134
GBPUSD | Perspective for the new week | Follow-upThe British Pound (GBP) has been on a rough ride lately, closing out its fifth consecutive week in the red. But a late-week rally brought some hope, pulling the GBP/USD back from its lowest point in five months. Now, all eyes are on the upcoming week, which is packed with key economic data and a crucial Fed decision. In this video, we'll analyze the GBP/USD currency pair, examining the potential for a bullish rebound in light of the upcoming economic releases and the Fed's likely rate cut. With the Federal Reserve's September meeting on the horizon, investors are keenly focused on the potential for a rate cut. Current rate markets have priced in the beginning of a rate cut cycle, with the Federal Open Market Committee (FOMC) expected to meet on September 18. Although the probability of a 50 basis point cut was previously high, expectations have adjusted slightly. According to the CME’s FedWatch Tool, there is now a 53.5% chance of a 50 bps cut in September, with further cuts anticipated later in 2024. Next week’s economic calendar is packed with key data. On Tuesday and Wednesday, we’ll receive the US Producer Price Index (PPI) and Consumer Price Index (CPI) inflation reports, which could provide crucial insights into market direction. Additionally, US Retail Sales and updates from the University of Michigan’s Consumer Sentiment Survey will offer more context for economic trends. Given these developments, the big question is: will the British Pound be able to maintain its bullish momentum as we head into the new week? Join us as we dive into the charts, analyze the current market conditions, and discuss potential trading opportunities. GBPUSD Technical Analysis: Will the pound maintain buying pressure above $1.27500 and the ascending trendline next week? Watch this video for key trades this week. Join the discussion for updates on GBP/USD trading. Stay tuned for more content. Happy trading! Disclaimer Notice: Trading in the foreign exchange market and other instruments carries high risk and may not be suitable for all investors. The content provided here is for educational purposes only. Evaluate your financial situation and consult with a financial advisor before making any investment decisions. Past performance is not indicative of future results.
by darcsherry
NZDCAD → Consolidation prepares the market for a trend change ↑FX:NZDCAD is breaking the current bearish trend and forming a bullish off-trend pattern. Focusing on the 0.82863 "trigger" resistance, bulls are targeting it to break this area... Accumulation is forming in relation to the mentioned zone, if the structure will remain, and buyers will continue active attacks towards the "trigger", then in the long term we can look for an entry point for a breakdown. The market is still restrained by MA-200 & MA-50, but the 200-day line is undergoing a third retest, which generally increases the chances of price consolidation above the key SMA. Globally we have a neutral trend, locally the market sentiment is starting to turn bullish. The structure will be broken if the price consolidates below 0.82239. Resistance levels: 0.82863, MA-200 Support levels: 0.82239, MA-50 Fundamentally, the situation in New Zealand is calming down and the market is starting to recover losses. Emphasis on the ascending triangle on H4, it is possible to build short-term and medium-term prospects in relation to this figure Rate, share your opinion and questions, let's discuss what's going on with ★ NZDCAD ;) Regards R. Linda!
Long
by RLinda
5
RON - A reversal with a leading breakout is expected to push the#RON/USDT #Analysis Description --------------------------------------------------------------- + Price has hit the support zone around 1.5 price range. + A strong reversal can be expected from the support zone which gives a good opportunity for a long trade. + Enter a long trade only after the price reversal. --------------------------------------------------------------- VectorAlgo Trade Details ------------------------------ Entry Price: 1.6 Stop Loss: 1.14 ------------------------------ Target 1: 1.848 Target 2: 2.320 Target 3: 2.752 Target 4: 3.658 Target 5: 5.308 ------------------------------ Timeframe: 1W Capital Risk: 1-2% of trading amount Leverage: 5-10x --------------------------------------------------------------- Enhance, Trade, Grow --------------------------------------------------------------- Feel free to share your thoughts and insights. Don't forget to like and follow us for more trading ideas and discussions. Best Regards, VectorAlgo
Long
by VectorAlgo
ANF reversal or dead-cat bounce? NYSE:ANF ANF has recently pulled back from its all-time high (ATH) following its latest earnings report. Despite strong earnings, same-store sales, and electronic sales growth, and a dynamic inventory selection, concerns about a potential recession have weighed on the stock. Key Developments: Recently dropped below the 100-day Moving Average (MA) Retested the 200-day MA Bounced off the 200-day MA Broke out of a triangle formation on a 15-minute timeframe Broke above the 100-day MA but failed to break above previous support Expected Outcomes: Bullish scenario: If ANF bounces off the 100-day MA and reclaims the previous support level, it could retest the 50-day MA, coinciding with the upper limit of the current negative channel. In this case, I would consider near-term put options to hedge against a potential retest of the 200-day MA. Bearish scenario: If ANF fails to hold above the 100-day MA and the $150 support level, it is likely to retest the 200-day MA. I am closely monitoring the $150 level and will make decisions based on price action this week. Given the current macro environment, I prefer to be short this position. If the bullish scenario unfolds, I will wait for a retest of the upper channel limit before taking action. With key economic data, including retail sales, being released this week, expect volatility. Regardless of my position, I plan to be short-term and exit before the next earnings report.
NYSE:ANFShort
by Average_Joe_Options
XRP → The court case is complete. Triangle Resistance Retest...↑BINANCE:XRPUSD is forming a rally from the intermediate bottom area. The reason for this is the end of the litigation between Ripple and SEC. The market has been laying a positive outcome for the past few weeks.... The SEC was demanding $2 billion dollars, but the court reduced their demand by 94%, admitting they lost! This is a positive outcome for Ripple, the industry. Ripple is only fined $125 million instead of $2 billion. The rumors have been around for a while, but the market reacted quite positively, giving an initial boost of 27% Technically, at the moment, all eyes are on the range 0.6378, 0.5663. Emphasis on the resistance breakout. If the bulls can overcome this boundary, it will be a confirmation of the price exit from the global descending triangle, which may affect the formation of a bullish trend, the promising targets of which may be 0.900, 1.300. Resistance levels: 0.6378, 0.7440 Support levels: 0.5663, MA-50 Fundamentally and technically, everything is unfolding with favorable winds for the bulls. It opens the way to the north, but before that, the bulls need to try to overcome the strong resistance. Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:XRPUSD ;) Regards R. Linda!
Long
by RLinda
4
GOLD → Consolidation above global trend supportFX:XAUUSD is trading inside the global range. The focus is on local support and resistance levels. The dollar is temporarily rising, which has an impact on gold, which is globally in a bullish trend. The gold price remains vulnerable despite the US Federal Reserve's dovish stance. The gold price continues to lose ground for the fifth day in a row on Wednesday, approaching a one-week low on the back of a generally stronger US Dollar (USD) and rising US Treasury yields. There are not many key news today, so the general fundamental background and technical component should be evaluated as a priority. Technically, gold is not allowed below 2369 and 2380, forming a correction and a retest of the resistance at 2397-2400. If the bulls are able to break this zone and consolidate above the level, we can get on the train to the north, but an active struggle of differently-minded traders is forming in this zone. The trading range for today is 2420 - 2370 (confirmed by the movement of August 05 - 06). Resistance levels: 2397, 2400, 2420 Support levels: 2380, 2370 If bears hold resistance, price may test the lower boundary of the range. But, a retest and breakdown of 2420 would disrupt the market structure and character and create a fickle mood, within which the bulls may give impetus. Rate, share your opinion and questions, let's discuss what's going on with ★GOLD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
15
GOLD → False break of range support led to a reboundFX:XAUUSD reaches the liquidity zone of 2370, forming a false breakdown, confirms the presence of a strong range boundary. The market may move into a sideways trend. Fundamentally, the situation is still complicated. The U.S. regulators are trying to change the market's mind on the recession issue, trying to keep the market calm. The question of aggressive actions of regulators is still open. At the moment everyone is watching the actions in the Middle East, as the activity on the background of the war already unleashed can again affect the price of gold. Markets continue to estimate almost 90% probability of a 50 basis points cut in US interest rates in September. Let me remind you that it is not the fact of reduction that matters, but the hints and comments of regulators. At this time, gold is forming a global range of 2480 - 2370. Resistance levels: 2420 Support levels: 2400 Technically, gold may go into a consolidation phase, but in the future it is worth watching the resistance at 2420. As a pre-breakout consolidation or a quick retest may lead to a breakout attempt and growth Rate, share your opinion and questions, let's discuss what's going on with ★GOLD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
5
GOLD → A retest of trend support. ISM PMI ahead...FX:XAUUSD is moving into the correction phase amid unstable fundamental environment. The price of the metal is declining towards the rather important zone of 2420, which has shown itself more than once. Fundamentally, the market is in fear because of possible recession, which may become a motivation for the Fed to take hasty actions and more aggressive easing of monetary policy Rumors are emerging about a possible emergency FED meeting in the near future. Not to forget gold as a hedge asset, which continues to feel supported in volatile times. Speculators are cautious and refrain from premature actions ahead of the ISM services PMI data and the tense situation in the Middle East. Support levels: 2419,6, 2403, 2382 Resistance levels: 2451, 2474 Technically, gold is at a strong support at 2419 and judging by the reaction of the price to the level, the buyers are acting quite aggressively, trying to hold the market. Against this background, the price may strengthen to the nearest resistance 2430, 2445, 2450, but if the price starts to return to 2419, forming a quick retest, it will increase the chances of a possible breakdown of the bullish channel and further decline to the zone of interest and liquidity. Rate, share your opinion and questions, let's discuss what's going on with ★GOLD ;) Regards R. Linda!
FX:XAUUSD
by RLinda
17
Descending Channel on USD/CHF @ D1This descending channel pattern has formed on the daily chart of the USD/CHF pair following a rising trend that lasted from the start of the year till May 1. 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 candle preceding the breakout candle. It's not shown SL isn't shown on the chart. I will ignore bearish breakouts from this descending channel formation.
Long
by AndriyMoraru
Potential Bullish Reversal for Stader (SD/USDT)#SD/USDT #Analysis Description --------------------------------------------------------------- + The chart shows a descending channel pattern forming since the peak in end of 2023. The price has respected the upper and lower bounds of this channel multiple times, indicating a strong bearish trend within this range. + The price is currently near the lower boundary of the descending channel, around $0.51, which has acted as a significant support level. + A breakout above the upper boundary of the channel around $0.93 could signal a potential trend reversal. + If the price holds above the $0.50 support level and breaks out of the descending channel, we can expect a potential move towards the $1.15 resistance zone. + Further upside could see the price targeting the $2.00 - $2.50 levels + The RSI is currently at 40.42, indicating that the asset is nearing the oversold region. A reversal in RSI towards the 50 mark would support a bullish momentum shift. --------------------------------------------------------------- VectorAlgo Trade Details ------------------------------ Entry Price: $0.5109 Stop Loss: $0.37 ------------------------------ Target 1: 0.8259 Target 2: 1.15 Target 3: 2.0 Target 4: 3.0 Target 5: 5.0 ------------------------------ Timeframe: 1W Capital Risk: 1-2% of trading amount Leverage: 5-10x --------------------------------------------------------------- Enhance, Trade, Grow --------------------------------------------------------------- Feel free to share your thoughts and insights. Don't forget to like and follow us for more trading ideas and discussions. Best Regards, VectorAlgo
Long
by VectorAlgo
GOLD → Ahead of NFP. Shall we get to 2500?FX:XAUUSD is making new highs and approaching a strong resistance zone from which a small correction may follow before a further rise. NFP is ahead, which may set a short-term backdrop The dollar is in a sideways range ahead of the news, which generally indicates a neutral mood among traders. Strong news can either renew the dollar's decline, which will be favorable for gold, or have the opposite reaction, so it is necessary to look at the actual data. Technically, the gold is approaching the ATH and there is a high probability that the price will not only test the high, but also update it. In general, the fundamental and technical background is positive this week and I think that in the short and medium term we should wait for the continuation of growth. Resistance levels: 2368, 2475, 2483 Support levels: 2451, 2440, 2430 Gold reduces volatility before the news as speculators go into wait-and-see mode. High volatility is expected, on this background the price may test the support before further growth. But if the resistance of 2483-2475 is broken at once, the price may go to 2500-2550. Rate, share your opinion and questions, let's discuss what's going on with ★GOLD ; Regards R. Linda!
FX:XAUUSDLong
by RLinda
20
GOLD → Correction before the bullrun. Target 2500?FX:XAUUSD is strengthening and testing 2450. The price rise was influenced by Powell's comments on progressive deflation and a possible rate cut in September, as well as another conflict in the Middle East.... The Fed left the rate unchanged for the 8th time at 5.5%. The rate has remained unchanged since the summer of 2023 and is the highest in 20 years. There was considerable discussion of a rate cut at this meeting. A rate cut may be considered in September. In addition, the intensification of the conflict in the Middle East may turn into a full-fledged war, which generally increases the interest in gold. Today is also a busy news day. Initial Jobless Claims, SP PMI, ISM are ahead. The data also plays an important role in shaping the medium-term strategy, so it is important to evaluate the actual results. Resistance levels: 2437, 2450 Support levels: 2430, 2421 After a false breakdown of resistance, a correction is forming. Gold is bullish at the moment (trend, sentiment and interest), so the nearest strong support may become a reversal zone for further strengthening. The potential target is 2451 - 2474. Rate, share your opinion and questions, let's discuss what's going on with ★GOLD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
6
BTC_[Daily]_Trendline Support (Channel Bottom)BTC Daily Analysis: Price is moving in within descending parallel channel for 155days now Price is rejected from Channel top (resistance) and moving in short-term downtrend (acting as support). It is also confluencing with 61.8% fib level (Golden Ratio) It has also reached a long-term trendline support which is respected historically (except a recent fake break down). A short term bullish setup until channel top can be taken (wait for green candle formation on hourly time frame)
Long
by YASIRWA
XAUUSD | GOLDSPOT | New perspective | follow-up detailGold prices surged 1% on Friday as U.S. Treasury yields fell, driven by optimism for a potential interest rate cut by the Federal Reserve in September. Data showed U.S. prices rose modestly in June, giving Fed policymakers fresh evidence of progress in their battle against inflation. The personal consumption expenditures (PCE) price index increased by 0.1% last month, pushing benchmark 10-year note yields to a one-week low. In this video, we analyze the impact of these fundamental dynamics on the Gold market and explore the technical implications on the charts. With the Federal Reserve's monetary policy decision coming up next week, the central bank is expected to keep rates unchanged. However, this meeting could set the stage for the first rate cut in September. What can we expect from the gold market in the coming week? XAUUSD Technical Overview: This week, we're focusing on the crucial $2,390 level. This is a big deal for gold traders - it could be a make-or-break point. If gold stays above $2,390: Bulls might take control, potentially pushing prices higher and setting up new highs. If gold maintains selling pressure below $2,390: Bears might gain the upper hand, and prices could head south respecting the descending channel in the process. Join me as we explore these factors and potential opportunities in the gold market. Like, subscribe, and hit the notification bell for the latest analysis and insights! #Gold #GoldPrices #FederalReserve #InterestRates #Forex #Trading #MarketAnalysis #TechnicalAnalysis #PCE #USInflation #TreasuryYields #Investing #Finance #EconomicData #ForexTrading #XAUUSD📺🔔💼 Disclaimer Notice: Trading in the foreign exchange market and other instruments carries a high risk and may not be suitable for all investors. The content provided here is for educational purposes only. Evaluate your financial situation and consult with a financial advisor before making any investment decisions. Past performance is not indicative of future results.
PEPPERSTONE:XAUUSD
by darcsherry
GOLD → Ahead is 2430 and strong news. Going up to 2500?FX:XAUUSD overcomes trend resistance, forming a bullrun to the liquidity zone amid positive rumors. The price is testing 2430. Possible correction before the news. Today is a busy news day, high volatility is possible. Ahead of ADP Nonfarm, Chicago PMI and the most important last: Fed Interest Rate Decision and FOMC conference. Nobody is going to cut the rate today, but Powell may give a signal about interest rate reduction in the coming months on the background of slowing labor market growth. Traders evaluated the possible potential positively enough and rushed through 2390 to 2430. Technically, a retest of resistance is formed after quite a long time, liquidity may not let the price up the first time, respectively, a correction is possible before further growth. Resistance levels: 2429, 2452, 2474. Support levels: 2404, 2400 The fundamental and technical background is favorable, if something unpredictable does not happen today, gold may continue its recovery phase. But, pay attention to the news, as they will be published in a cascade and the temporary mood of the market may be volatile.... Rate, share your opinion and questions, let's discuss what's going on with ★GOLD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
17