XAUUSD LONG1. daily Higher Low
2. daily 786 retracement
3. daily retest 50 ema
3. 4hr break and retest structure
4. 4hr break and retest 50 ema
5. retest daily trendline
6. 4hr downward trendline broken
Fibonnacci
GOLD SELLAs last we have witnessed a heavy news week as it was ending of month and quarter too but as the month starts and everything gets normalized Gold is following its direction and being directional means gold is following its bearish path as we have a rally downwards last week and gold has made a Fibonacci retracment of 68.1% on one Hourly time frame also gold is rejecting its Daily and 4H Resistance and getting accumulated over it so its high probability that gold will start its downward journey soon
so am keeping an eye and waiting for a price action so we can enter
Potential GBPUSD Sell setupWe bought GBPUSD during NFP
Today we are seeing a sell setup on GBPUSD
Lets follow the market as it makes data available
Bitcoin: Potential 2025 targetsHere you can see the similarities between the last three halving cycles and compare them to the current fourth one.
The blue zones represent when the price has broken the 0.382 fib after a bear market roughly one year before the halving. The price never broke the 0.786 fib before the halving, so I don’t expect the price to go above $50,000 until at least few months after the halving in 2024.
The green zones represent the time from the halving to the peak. The price reached the 1.618 fib in each of the previous cycles (and got a massive rejection). This cycle the 1.618 fib is at $174,000.
The orange zones represent blow-off tops. In the first two cycles the price kept going all the way to the 2.272 fib. In the last cycle it didn’t happen (but it was still a very bullish phase). This cycle the 2.272 fib is at $462,000.
I have copied the price action of the last three cycles and adjusted them to the current fib levels to get a visualization of what we can expect after the next halving. I don’t know what will happen before the next halving, but I expect the price to range between $20,000 and $50,000.
Main target for 2025 is just under $200,000. And maybe we’ll see $420,690 just for the meme.
FAKE BULL SEASON is OVER!As can be seen, the rising trend that took us from the bottom to the new ATH has been broken and according to the Fib levels, it does not appear that the decline will stop before 56K.
My guess is that the decline will stop temporarily at the minimum angle trend level, that is, 50K, but I do not think we will see a new ATH this year.
BTC is approaching its bottom in the 51k areaIt seems that BTC is approaching its bottom in the 51k area, as seen from several indicators including:
1. Fibo 0.618 (goldenratio) correction from impulsive wave from January to March
2. Major support at 51k has not been visited since February
3. Finishing ABCDE correction wave
4. Bottom trendline descending channel formed since March
5. Liquidity heatmap is around 51k
6. CME gap at 58k has been filled, and another gap has emerged above in the 59.5k - 62k area
7. Fear and greed at 26 (FEAR)
Never Underestimate A Simple Setup USDCHF +120 Pips Update: simple and easy setups sometimes are the best so never underestimate ur trade and have second thoughts about it on 2 conditions:
1- u enter from strong area of resistance or support.
2- u don't enter against the trendline or the general direction of the pair.
the price is creating very decent waves and also it will hit 71% fib level that will be at the same are of the trendline so putting a sell trade around this are will be great opportunities
Long way to go from here
Current situation: SKILLING:US100 : NASDAQ:SMCI is currently at support level.
Potential scenario: If tomorrow's earnings do not meet expectations, the stock could drop to around $450 in a heartbeat.
Why?
1. The movement that started on 4.03.2024 appears to be an ABC correction, and the stock is currently in wave C of that correction.
2. In an ABC correction, the most common Fibonacci level for wave C is when
Wave C = Wave A = 1 = $446
3. Other indicators, such as MACD, are also indicating a downward trend as expected.
The WavesInvesting indicator is also pointing to the same level as the Fibonacci ratio for its lower channel line.
However, if the earnings turn out to be very good, we may see support at the current level.
Simple question for you: support or down the water slide we go?
Market Overview Part 31 Me Going Over How I Trade With My Robin Trap Strategy In Deep Detail With How I use Market Structure And Multiple Timeframes!
BTCUSD - Potential for Sellers to Reach +600 PipsBTCUSD Daily Outlook (07.24.2024)
The market has formed a motive wave pattern 12345.
And will form an ABC wave correction pattern.
Potential for Sellers to Reach +600 Pips.
Target Price at 61,000.00 or Fib. 50%.
USOIL - Potential for Buyers to Reach +1500 PipsUSOIL Weekly Outlook
The Market will form an ABCDE Pattern.
Potential for Buyers to Reach +1500 Pips.
Entry Price at 74,00
Target Price at 89,00
SETUP SELL EURUSD1. D1 has an engulfing candle pair
2. Volume on H4 and H1 shows a reversal trend
3. Fib is exactly at the 0.382 level
4. RSI on D1 and H4 are both trending downwards
SETUP to sell with an expectation to reach the Fib level on the D1 timeframe at 0.382
HDFCBANK Bullish Retracement Amid Uptrend
Overall uptrend.
Rebounded from 50% Fibonacci level.
RSI neutral, potential for more movement.
Should we expect complex structure on BTCApparently , BTC bulls are back , but as a trader, we expect complete corrective structure before the up move.
Bearish on GER30 Dax, read the texts following the numeric orderThe chart itself is self explanatory.
German Dax is due for a correction and it has already created a:
1. Triple Top on the weekly time frame
2. H&S on the weekly time frame
The price is expected to retrace down to the monthly/weekly fibonacci golden zone level (0.5 to 0.618), which also coincides with a strong support (formerly resistance) area.
#DAX #GER30 #GER40
Tejas Networks Posts Strong Q1, Awaiting BreakoutTEJAS NETWORKS reports strong Q1 results with significant net profit, substantial revenue increase, and solid EBITDA profit. Technically, the stock is consolidating after an uptrend, retracing from the 38% Fibonacci level, and is poised for a breakout above 1495 INR.
USD/JPY - Expect Buyers above 156.78The Primary trend in the Dollar-Yen 4hrs timeframe is still Bullish, we can see a completed Bullish wave structure. If we apply the trending market truth it says the trend will not change easily. Also, a reversal is not a trend change.
What we can see is normal behaviour in a trending market, the price has become too high at the Momentum high (5), the buyers took profit and we saw a strong decline.
The play is to buy if the price trades above 156.78, this is the price point that confirms the last Bullish run.
The Minimum Target is 159.02.
Stop Loss is 156.05
$TSLA not done going higher. $320-$330 by July 24. GET LONGSo we already know that Tesla deliveries came in 9000 more than what was expected, 438,000 expected verse 447,000 that Elon Musk posted on Twitter a couple weeks ago. Last quarter earnings per share of $.47 was slightly missed, and on July 23 they’re expected $.60 per share earnings. So IMO, That could indicate that even a slight earnings beat on revenue and earnings, would propel the stock to complete wave three at 2.618 Fibonacci level.
never mind, the whole Robo-taxi delay, which caused an 8% decline on Thursday along with the rest of the Big tech Nasdaq. I don’t think robotaxi is realistically a factor in their valuation just yet.
Long $ENPH till day after earnings report July 24.There’s is a huge lift for all battery and renewable energy companies right.
For example, META hired Evercore EVR, to the tune of $54B to build out 11 square mile solar powered data storage facilities for its push into A.I., which requires a lot of energy to run AI.So there’s a ton of money from the large cap MAG 7 companies going into this industry right now.
Based on the volume profile and the fib levels already breached, i would easily believe if ENPH just slightly beats rev & earnings, and has decent guidance.
ICP/USDT Trading ScenarioAmid the negative news about Bitcoin, the price of ICP significantly declined, falling from a local high of $20.937 to $5.837, a drop of over 71%. The asset's price chart has fallen below the 0.75 Fibonacci level, which is often interpreted as a favorable buying zone.
From the perspective of volume profile, the area of interest for market participants is significantly higher, in the range of $13.041.
Currently, there is a positive reaction from buyers at the $5.837 mark, as evidenced by the formation of a daily pin bar. This signal could indicate a potential trend reversal and the beginning of an upward movement, as a pin bar typically signifies a change in market sentiment.
Gold sellGold could possibly be a sell setup as in previous days gold has shown us good opertunity of shoring the pair it has given a high voulme marked candle lastly if price Breaks that candles high and sustains over it we will put our buy orders if price shows us some bearish gesture as in current candle anyone can imagine a long entry but it will be too early to decide as market is in decisive phase and as early as we can get a bullish or Bearish signal we will be having a ride over
USD/JPY - Bullish Trend ContinuationThis morning, the focus is on the Dollar-Yen pair. The bullish trend is evident across all timeframes. Yesterday, we observed a strong break of the reversal structure at 161.269 after reaching a momentum high of 161.95. This break is crucial for the continuation of the bullish trend. Following the break, a bullish pattern has formed, and the price has moved into the Fibonacci buy zones of the initial move. Given this setup, the high probability action is to buy or do nothing above 161.57.
Stop Loss: 161.14
Target 1: 162.35
Always think in probabilities.
USDCHF: Key Level Rejection, Fibonacci Retracement ExpectedPrice recently broke out of the daily (D) descending channel. It then pushed up to meet the daily (D) 50% Fibonacci retracement level, converging with resistance. Price then rejected this level and pushed down to retest support before breaking out of the four-hour (4H) downtrend line, suggesting strong bullish momentum. Price then pushed up and reached the daily (D) key level and converged with yet another 50% Fibonacci level. Price has proceeded to reject this level, highlighting temporary reversal and suggesting a possible retracement. I expect price to temporarily retrace to around the 38.2% level before continuing to the upside.
**Rationale:**
**Rationale:**
~ (L1): Breakout of channel (D)
~ (L2): Retest of support (D)
~ (L3): Break of trendline (4H)
~ (L4): Retest of support
~ (L5): Fib retracement convergence + Rejection
~ (F1): 38.3% Fib retracement
**Disclaimer:**
My trading ideas are market predictions and therefore should be viewed as such. As an intraday trader (scalper), I use my observations to identify potential trade opportunities on the higher time frames. I then aim to pinpoint key entry points on the lower time frames. Entries should always be verified by additional confirmations.
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#scalping
#intraday
