Get started

Harmonic Patterns

Bearish drop?EUR/CAD is rising towards the pivot which lines up with the 50% Fibonacci retracement and could drop to the 1st support which acts as an overlap support. Pivot: 1.49673 1st Support: 1.48477 1st Resistance: 1.50585 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
Could the price reverse from here?EUR/NOK is risng towards thepivot and could reverse to the overlap support. Pivot: 11.89923 1st Support: 11.78621 1sst Resistance: 11.98699 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
Bullish bounce off 50% Fibonacci support?CAD/JPY is falling towards the pivot which acts as a pullbacksupport and could bounce to the 1st resistance which is an overlap resistance. Pivot: 108.43 1st Support: 107.05 1st Resistance: 109.63 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
USDT.D and FOMCKey Zones: Red OB (Order Block): Major resistance zone around 3.96% to 4.00%. Green OB+: Key support zone between 3.80% to 3.84%. FVG (Fair Value Gap): Price imbalance between 3.88% to 3.91%, which could fill soon. Current Trend: Price has broken above a descending trendline and moved upwards. Currently, the price is consolidating between the resistance OB and the FVG zone. Potential Scenarios Ahead of the Interest Rate Decision (22:30 Iran Time): Bullish Scenario (Red Path): If the price successfully breaks and closes above the resistance OB (4.00%), we could see a continuation of the bullish trend toward higher levels like 4.05% and beyond. Bearish Scenario (Green Path): If the price fails to break the 4% resistance and shows a bearish reaction, it could head toward the OB+ support zone at 3.80% to 3.84%. A break below this support might lead to a further decline toward the 3.75% region. Mixed Scenario (Blue Path): Price could initially retrace to the OB+ green support (3.80%), then bounce back up if this level holds, signaling a potential new upward move. Impact of the Interest Rate Decision: A rate cut is expected, which could lead to a decline in USDT dominance and strengthen altcoin markets, supporting the bearish scenario (Green Path). However, market reaction to the news will be critical. Wait for clear price confirmation after the announcement. Recommendation: Monitor the highlighted key zones carefully and wait for price direction confirmation after the interest rate announcement.
CRYPTOCAP:USDT.D
by ScorpionX_Co
$ENA Cup-And-Handle Pattern!XETR:ENA Cup-And-Handle Pattern! Neckline Support: The price is retesting the neckline (around $0.94), which is a critical support zone. EMA 200: The red EMA 200 at $0.63 is far below, indicating strong momentum above it. Targets:If the retest holds, the next target is around $2.15 (projected from the pattern). A breakdown below the neckline could push the price back toward $0.86 or lower. Key: Watch for volume confirmation to validate the bounce or breakdown.
Long
by CHILL_TRADER99
Cake Usd | Just going downIf we set aside the aspiration of creating new highs and focus purely on the price behavior, there’s little appealing about this currency's performance. The market maker for this token appears to be notably weak. In its previous move, if it had managed to break above the $5 level, we might have considered a bullish scenario. However, the reality is that many holders and investors have become disillusioned. The token's support cannot be sustained merely through promotional news on platforms like Telegram and Twitter. Personally, I’ve placed trust in this currency multiple times, only to witness it reach new lows each time. The current monthly rejection candle suggests a potential move toward the half-dollar range, reflecting the market's negative sentiment. Interestingly, their platform seems to generate sufficient income, which might imply that a lower token price is not necessarily detrimental to them. This perspective could align with their broader strategy, but it does little to instill confidence among the token’s investors. This is not financial advice.
BINANCE:CAKEUSDShort
by nic7071
Ethereum: Regaining Balance After a Bearish Trend ReversalEthereum (ETHUSD): Consolidation Phase Amid Mixed Market Signals Ethereum (ETHUSD) continues to consolidate within a defined range, with the upper boundary near 4085-4100 and the lower boundary around 3530-3440. Despite the recent bearish pressure, the overall market structure still leans bullish, supported by favorable fundamentals—barring certain developments in recent news that have introduced a layer of uncertainty. This consolidation phase reflects a temporary balance between bullish and bearish forces, with potential for significant movement once key levels are breached. Current Market Overview At present, Ethereum is trading near a critical resistance zone between 4090 and 4100, which has historically proven to be a formidable barrier. Breaking through this zone will likely require a substantial influx of bullish momentum and trading volume. The broader trend remains upward, but yesterday's news has introduced an element of caution. The fundamental backdrop is ambiguous, with hints of a possible shift in monetary policy. While the news of a decline in interest rates initially appeared bullish, indications of a more hawkish future stance have tempered optimism. Bitcoin, the market leader, has shown signs of a minor correction, which often correlates negatively with altcoin performance, including Ethereum. Technical Analysis: Key Support and Resistance Levels Resistance Levels: 4086-4100: A strong resistance zone that Ethereum is currently testing. Breaking above this range could pave the way for a retest of higher levels. 4372: A significant level that aligns with the bullish continuation scenario if momentum sustains above 4100. Support Levels: 3530-3440: This zone has emerged as a robust support area, underpinned by significant liquidity. It is likely to act as a magnet for price action in case of further downside. 3261: The next major support level in the event of a deeper correction, signaling potential bearish risks if the price falls below 3440. Market Sentiment and Potential Scenarios Ethereum's bullish structure remains technically intact, as evidenced by the formation of higher lows and the maintenance of key support levels. The 3530-3440 zone represents a strong demand area, and a retest of this level is a plausible scenario. Such a retest could serve as a "liquidity grab," enticing sellers before the price reverses upward, targeting higher resistance zones. However, risks of further declines cannot be ignored, particularly if broader market conditions deteriorate or Bitcoin extends its correction. In this case, Ethereum may retest deeper support levels, potentially challenging the bullish outlook. For now, the market appears to favor a consolidation phase, with the potential for upward momentum taking precedence. Strategic Approach: Trading the Range Given Ethereum's current position within the consolidation range, a pragmatic trading strategy would involve leveraging the boundaries of this channel. Traders may consider entering long positions near the 3530-3440 support zone, targeting the upper boundary around 4086-4100, while employing tight stop-losses to manage risk. Conversely, short positions could be explored near the resistance zone if bullish momentum falters, with support levels serving as potential take-profit targets. Outlook for Growth Despite short-term uncertainties, Ethereum's longer-term outlook remains optimistic. A successful breakout above 4100, confirmed by strong volume and momentum, would significantly strengthen the case for further growth. Such a move could open the door to the next major resistance level at 4372, potentially marking the start of a renewed bullish rally. For now, the consolidation phase represents a period of accumulation, with the market preparing for the next decisive move. Monitoring macroeconomic developments, Bitcoin's price action, and Ethereum's interaction with key support and resistance levels will be critical in shaping the near-term trajectory.
Long
by lonelyPlayer0