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Harmonic Patterns

GOLD BUYGold defends 50-day SMA ahead of US PPI inflation data Gold price attempts a tepid bounce early Wednesday as focus shifts to trade updates and US PPI data. The US Dollar retreats alongside Treasury bond yields even as risk-off flows persist. Gold price needs to crack the 50-day SMA support at $3,323; daily RSI reclaims midline. As observed on the daily chart, Gold price is stuck between two key barriers, with the 21-day Simple Moving Average (SMA) support-turned-resistance at $3,335 checking the upside. On the other hand, the 50-day SMA at $3,323 cushions the downside. The 14-day Relative Strength Index (RSI) is sitting just above the midline, currently near 50.50, suggesting that buyers could retain control. Acceptance above the 21-day SMA is critical to sustaining the renewed upside, above which the 23.6% Fibonacci Retracement (Fibo) level of the April record rally at $3377 will be put to the test once again. Further north, the $3,400 round level will challenge bearish commitments. In contrast, rejection at the 21-day SMA could attack the 50-day SMA support. Sellers must find a strong foothold below the 50-day SMA on daily closing basis. The next healthy support levels are located at the 38.2% Fibo level of the same rally at $3,297 and the July low of $3,283. TP 1 3,349 TP 2 3,371 TP 3 3,390 RESISTANCE 3,317
OANDA:XAUUSDShort
by Mark804
Bitcoin harmonic pattern. Back to back Gartley. BTCGOLD ratio.The BTC/GOLD ratio has experienced a significant correction, currently standing at 27 gold ounces per 1 Bitcoin, down from a peak of 41, representing a decline of 34%. Gold, priced at $3,114 in US Federal Reserve notes, is in a sustained bull market. It is reasonable to anticipate that the digital equivalent of gold will gain traction once gold stabilizes at a higher price point. The Gartley pattern is recognized as the most prevalent harmonic chart pattern. Harmonic patterns are based on the idea that Fibonacci sequences can be utilized to create geometric formations, which include price breakouts and retracements. The Gartley pattern illustrated indicates an upward movement from point X to point A, followed by a price reversal at point A. According to Fibonacci ratios, the retracement from point X to point B is expected to be 61.8%. At point B, the price reverses again towards point C, which should reflect a retracement of either 38.2% or 88.6% from point A. From point C, the price then reverses to point D. At point D, the pattern is considered complete, generating buy signals with an upside target that aligns with points C and A, as well as a final price target of a 161.8% increase from point A. Often, point 0 serves as a stop-loss level for the entire trade. While these Fibonacci levels do not have to be precise, greater proximity enhances the reliability of the pattern. Will these consecutive Gartley patterns succeed in bolstering Bitcoin's strength? We will soon discover the answer.
BITSTAMP:BTCUSDLong
by BallaJi
5
Global Market Overview | July 15President Trump’s latest statements made headlines again, but market reactions have become more measured. The Dow declined slightly, while Asian markets presented mixed performances; Japan remained flat, Korea and Australia posted losses, and Taiwan outperformed. The US dollar strengthened as the yen weakened. Bitcoin recovered near $118,000 after dropping from its $123,000 high. Silver held firm above $38. Today, market focus turns to U.S. PPI data and key bank earnings reports.
BITSTAMP:BTCUSD
by ChartMage
ALGO/USDT – Bull Flag Formation hi traders Algorand (ALGO/USDT) is showing a strong bullish continuation pattern following an impulsive price move upward. 🔍 Technical Overview: Current Price: $0.2828 USDT Pattern: Bull Flag A sharp upward move (flagpole) is followed by a period of consolidation within a downward-sloping channel, forming the flag. This is a classic bull flag pattern, often indicating a pause before continuation in the original trend direction. Volume Profile: Volume surged during the flagpole advance. It has since tapered off during the consolidation, which supports the textbook flag setup. 📈 Bullish Breakout Expectation: Once the price breaks above the upper resistance trendline of the flag, a strong continuation move is likely. The projected target is approximately $0.3677, representing a ~29.9% upside from the breakout level. This target is measured by applying the height of the flagpole to the breakout point. Wait for volume confirmation to avoid false breakouts. *Important: Failure to break the flag’s upper boundary could lead to further consolidation or a retracement.
Long
by vf_investment
Pound Pressured by BoE Dovish ToneGBP/USD held around 1.3430–1.3435, just above a three-week low, with traders awaiting US CPI data for further clues on dollar direction. UK economic data remains soft, and BoE Governor Bailey signaled that deeper rate cuts may be on the table if the labor market weakens further. He emphasized growing economic slack, which could help bring inflation down. Meanwhile, a slight dollar pullback provided limited relief to the pair. Resistance is at 1.3500, while support holds at 1.3380.
by ChartMage
ADA/USDT Trading Ideahi traders This technical analysis for Cardano (ADA/USDT) outlines a potential breakout or rejection scenario as the price tests a long-term descending trendline. Key Technical Levels to watch: Resistance: $0.7467 (current test of descending trendline) $1.0227 (primary breakout target) $1.1635 $1.3213 Support: ~$0.60 (horizontal support zone) Trendline: The chart features a long-term descending trendline from the February/March 2025 highs. ADA is currently approaching this resistance after a sustained rally from sub-$0.60 levels. 📈 Bullish Scenario: If ADA breaks above the descending trendline with strong volume: Expect a continuation move toward $1.0227, the nearest key resistance. A successful breakout and hold above $1.0227 could open the path toward $1.1635 and eventually $1.3213. This would signal a potential trend reversal and shift in momentum. 📉 Bearish Scenario: If ADA gets rejected at the trendline: Price may fall back toward the $0.60 support zone, where previous consolidation occurred. This scenario suggests the trendline remains a strong barrier and that ADA may continue ranging or resume a downtrend. *How to trade it: Confirm breakout with volume and daily candle close. Watch for fakeouts or failed breakouts due to market-wide sentiment shifts.
by vf_investment
Euro Steady, EU Prepares $84B RetaliationEUR/USD hovered near 1.1670 in Tuesday’s Asian session as markets awaited US-EU trade updates. Despite Trump’s 30% tariff announcement on EU imports, he confirmed that negotiations with Brussels are ongoing ahead of the August 1 deadline. According to Bloomberg, the EU is ready to respond with proportional tariffs targeting $84B (€72B) worth of US goods, including Boeing jets, bourbon, cars, and machinery. Resistance for the pair is at 1.1715, while support is at 1.1645.
by ChartMage
Gold price fluctuated upward today: target 3400 pointsGold price fluctuated upward today: target 3400 points Fundamentals: CPI data: US CPI rose 0.3% month-on-month in June (the largest increase since January), and the core CPI annual rate rose to 2.9%, which strengthened the market's cooling of the Fed's expectations for rate cuts (the probability of a rate cut in September fell to 53%). US dollar index: rose to 98.70 (a three-week high), suppressing the attractiveness of gold. Trump's tariff policy: plans to impose tariffs of "slightly above 10%" on several small countries, and the EU plans to impose retaliatory tariffs of US$84.1 billion on US goods, supporting the safe-haven demand for gold. Technical aspects: (1) Short-term trend (4-hour line) Support level: 3320, if it falls below, it will fall to 3300 or even 3222. Resistance level: 3350 (short-term pressure level), after breaking through, it is expected to challenge 3375-3400. MACD and RSI: Showing a tug-of-war between bulls and bears, tending to fluctuate upward in the short term. (2) Medium- and long-term trends (weekly chart) The rising channel remains intact, the Bollinger Band opening widens, and the medium-term target is $3,400-3,700. Today's focus US June PPI data (if it exceeds expectations, it may further suppress expectations of interest rate cuts). Speech by Fed officials (pay attention to policy direction). Progress of the trade war (if the tariff conflict escalates, gold may receive safe-haven buying). Summary and operational suggestions Short-term: Gold prices fluctuate in the 3300-3400 range, pay attention to the breakthrough of the 3320 support level and the 3350 resistance level. Strategy: Buy on dips (try to go long with a light position near 3330 points, with a stop loss below 3320 points). Go long after breaking through 3350 (target 3375-3400). If it falls below 3320, it may further correct back to the 3300-3250 area.
OANDA:XAUUSD
by louisa111222
BTC TRADE PLAN 11/07/2025 - Diamond PatternDear traders, Technical Analysis of BTCUSDT (Bitcoin/USDT) – July 11, 2025 🕐 Timeframe: 4H Price has broken above the major resistance at $110,000 and is now trading around $118,000, forming a Diamond Top pattern — a classic reversal formation that may signal an upcoming downtrend or correction. 🔻 Key Highlights: Major Resistance: $118,000 – current top and potential reversal point. Key Support: $110,000 – if broken, next targets may lie around $95,000–$100,000. Diamond Pattern: Typically a bearish reversal signal after a strong uptrend. RSI Indicator: Currently in overbought territory (above 85), suggesting buyer exhaustion. 📉 Possible Scenario: Price may reverse from $118,000 -120,000 and test the $110,000 support. A break below that could lead to a deeper correction in the coming weeks. Regards, Alireza!
Short
by alirezak
Gold (XAU/USD) Trading Analysis for July 16Support Zone: The market has found support around the 0.5 Fibonacci retracement level at 3,333.58. This could be a potential entry point for a long trade if the price bounces here. Resistance Zone: The price action is approaching the 3,345.18 level, with a strong resistance around that zone. If the price breaks above this resistance, we could see further upward movement. Price Action: We can observe an initial bullish movement followed by a correction. The price is currently in an uptrend, forming a series of higher lows and higher highs. Fibonacci Levels: The 0.5 level at 3,333.58 has already acted as a support zone, and if the price retraces back here, this could be a good opportunity to enter long positions. The 0.618 level at 3,336.32 serves as a key resistance point. If price breaks above this level, it could indicate a continuation of the bullish trend. Bullish Scenario (Long Entry): If the price retraces back to the 3,333.58 area (0.5 Fibonacci level) and shows signs of support (such as bullish candlestick patterns), consider entering long with a target at 3,345.18. Bearish Scenario (Short Entry): If the price fails to break above 3,345.18 and forms a reversal pattern, you could consider shorting with a target near 3,320. Risk Management: Stop Loss: Place a stop loss just below 3,330, allowing for a small margin of error in case the price breaks through the support level. Take Profit: Consider setting a take-profit at 3,345.18 for short-term moves or look for further price action if you're aiming for a longer-term trend. Reminder: Always monitor the price action closely and adjust stop losses accordingly. The market is subject to volatility, especially during high-impact news events, so make sure to stay updated.
FX:XAUUSD
by Henrybillion
1
Where Could Bitcoin Make Its Cycle Top? Model and ABCD AlignedWith the breakout above resistance around 110,000, Bitcoin’s rally appears to be back on track. If you've been following our crypto analysis, either here or on our website, you’ll know our target range for this bull cycle is between 135,000 and 150,000, with the top of the range possibly extending further depending on the strength of the final wave. Now, a possible ABCD pattern is forming, with point D potentially landing at either 135,000 or 150,000. A coincidence? Maybe, maybe not. How Did We Arrive at the 135K–150K Target? We based this range on historical halving cycle returns: Halving Year - Return to Cycle Top 2012 - 9,076% 2016 - 2,122% (↓ 4.27x) 2020 - 541% (↓ 3.92x) Two things stand out: Each cycle has shown diminishing returns. The rate of decline appears roughly consistent, dropping by around 4x each time—but slightly less with each cycle. So depending on the multiplier used: If returns fall by 4.27x again → target: 135K If reduced by 4x → target: 140K If reduced by 3.92x → target: 142K If the rate of reduction itself slows (difference of 0.35 between 4.27 and 3.92) → target: 150K While the sample size is too small, we believe the model holds reasonable logic with fundamental backing from various metrics. The chart now shows a possible ABCD pattern: If it becomes a classic AB = CD structure, point D could form near 135K. If it becomes an extended ABCD (with CD = AB × 1.272), then point D could reach just above 150K. These technical targets align closely with our halving model projections, increasing our confidence in the 135K–150K range as a likely top zone for this cycle. Also, please check our earlier post for possible altseason start. A correlation between BTC/ETH and Gold/Silver might give some tips about possible Ether surge.
Long
by ftdsystem
BTCUSDT 1 Day – Breakout and Retest Completed | Next TargetBTC has officially broken out of the descending parallel channel that dominated price action from mid-May to early July. After a successful breakout, price pulled back for a clean retest of the channel resistance, which has now flipped to support — a classic bullish continuation signal. 🔹 Key Technical Highlights: ✅ Breakout from descending channel structure ✅ Retest of breakout zone confirmed with strong bullish candles 🔼 Current Price: ~$118,971 (as of chart time) 📈 Short-Term Structure: Following a clean higher-low formation with ascending trendline support 🎯 Target Zone: $128,000–$130,000 (next key resistance area) As long as BTC maintains this ascending support line, the momentum remains with the bulls. Any dips toward the trendline may offer good long opportunities with proper risk management. 📌 Watch for: Rejection near the target zone Bullish continuation patterns like flag/pennant on lower timeframes Volume confirmation during breakout attempts Let the trend be your friend. Trade safe! ⚡
Long
by MangoMan4
BITCOIN Should we still trust the Stock to Flow model??It sure worked perfectly during Bitcoin's (BTCUSD) first Cycles, but the Stock-to-Flow model has greatly diverged from the current price action since March 2024. Right now the model sits at around $750000, which is vastly above the current market price of $119000. It's been trading sideways actually since June 2024 and all of the times that it was ranging, Bitcoin eventually caught up and closed the gap. It has always been a 'story' of divergence and convergence but it sure seems unrealistic to catch up this time, especially during if this Cycle continues to follow the 4-year model. So what do you think? Should we still trust what seems more and more like an 'obsolete' model as mass adoption kicks in? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSD
by TradingShot
8
#HOT/USDT#HOT The price is moving within a descending channel on the 1-hour frame, adhering well to it, and is heading for a strong breakout and retest. We are seeing a bounce from the lower boundary of the descending channel, which is support at 0.000840. We have a downtrend on the RSI indicator that is about to be broken and retested, supporting the upward trend. We are looking for stability above the 100 moving average. Entry price: 0.000852 First target: 0.000862 Second target: 0.000875 Third target: 0.000890
Long
by CryptoAnalystSignal
Lingrid | Gold ready to Make BoostOANDA:XAUUSD maintains a solid bullish structure with a clear series of higher lows (HLs) forming along the ascending trendline. After strong impulsive waves labeled A and B, price has repeatedly tested the resistance zone around 3450–3460, creating a double-top-like structure with equal tests. A confirmed close above 3460 would unlock the next leg higher in this ongoing uptrend. 📉 Key Levels 🔼 Buy trigger: Break and close above 3460 🟢 Buy zone: 3320–3340 (near HL and trendline) 🎯 Target: 3650–3700 (long-term breakout objective) 🚫 Invalidation: Drop below 3275 and trendline failure 💡 Risks -Potential fakeout above 3460 without volume support -Broadening consolidation range if breakout fails -Macroeconomic catalysts (FOMC, CPI, geopolitical tensions) If this idea resonates with you or you have your own opinion, traders, hit the comments. I’m excited to read your thoughts!
OANDA:XAUUSDLong
by Lingrid
18