XAUUSD potential sell-to-buy setupHere at Burnt Candle we are expecting the price of XAUUSD to rise, however, we would first like to see price drop before the push upwards.
Multiple Time Frame Analysis
GBPCHF SHORTMarket structure bearish on HTFs 30
Entry at Daily and Weekly AOi
Weekly Rejection at AOi
Previous Structure point Weekly
Weekly EMA retest
Daily Rejection at AOi
Previous Structure point Daily
Round Psych Level 1.13000
H4 EMA retest
H4 Candlestick rejection
Rejection from Previous structure
Levels 8.81
Entry 120%
REMEMBER : Trading is a Game Of Probability
: Manage Your Risk
: Be Patient
: Every Moment Is Unique
: Rinse, Wash, Repeat!
: Christ is King.
GBPUSD Buy Setup"All Insights are given on Chart"
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Note :
Do your own Research and Trade Wisely Never rely on my opinions.
Good Luck folks
EURCAD potential sell setupHere at Burnt Candle we are Bearish for the long haul on EURCAD, we are trying to end the current prevailing bullish corrective trend, waiting for it to push up to our area of interest to look for selling opportunities to the downside.
AUDJPY potential Buy-to-Sell setupHere at Burnt Candle, we are Bearish for the long haul, however, we might still see price pushing up to our sell area of interest. In the meantime, we would also like to take advantage of the push to the upside if it reaches our buy area of interest.
Remember, clear charts better vision.
Will Ethereum reach $8500 ?Ethereum (ETH) has been a focal point in the cryptocurrency world, drawing both admiration and skepticism. As Q4 unfolds, Ethereum has shown remarkable resilience, staying on its intended path despite market fluctuations. This article explores Ethereum's journey, its current standing, and the potential for it to reach the ambitious target of $8,500.
Everyone criticizing Ethereum should take note: ETH is still on track and hasn't deviated from its course. In Q4, Ethereum was never expected to reach new all-time highs (ATH). Despite performing better than anticipated, ETH remains steadfast on its intended path. It exhibited a bearish pattern, forming higher lows and lower highs before stabilizing. It then marked a higher low, established a bear market high, broke through this high, retested it just before Q4, and began its upward trajectory.
Here's how the forecasted ETH pattern looks—believe me, we're still on track. 📈
Ethereum's chart demonstrates a clear path forward, with key indicators suggesting sustained growth. The technical analysis points towards Ethereum reaching significant levels, with the 2.0 Fibonacci extension level being a crucial milestone.
I believe $8,500 is a realistic target for Ethereum, corresponding to the 2.0 Fibonacci extension level. The Fibonacci extension tool is commonly used in technical analysis to predict future price movements based on past price trends. The 2.0 Fibonacci extension level suggests that the price could potentially double from its previous move. In this case, reaching $8,500 fits within the expected range of this extension level, making it a plausible target.
When ETH's price reaches the 2.0 Fibonacci extension level, its market cap will be approximately $625 billion, reflecting a 155% increase. If the price continues to rise and reaches the 2.618 Fibonacci extension level, the market cap would soar to around $859 billion, marking a 214% increase. These levels are calculated based on today's price.
To all the Ethereum doubters out there: Keep talking while ETH keeps building. 📈 Your doubts fuel our progress. Watch and learn! 💪🔥
Ethereum's journey is far from over, and its resilience in the face of criticism only strengthens its position. As it continues to build and innovate, ETH is poised to reach new heights, potentially hitting the $8,500 mark and beyond.
Ethereum's path is filled with potential, and the signs are pointing towards significant growth. With the 2.0 Fibonacci extension level serving as a realistic target, $8,500 is within reach. Whether you're an investor or a skeptic, keeping an eye on Ethereum's progress is essential, as it continues to defy expectations and carve its path in the crypto world.
XRP Weekly ChartPrice finally seeing a retracement after many weeks moving up.
Peaked at $2.90 before dropping to $1.95, and has since recovered slightly.
Overall market is correcting and most coins seeing a pullback but price is in a range now on the daily timeframe.
Once above $3 or below $1.80 it will be a clear trade to continue in either direction.
Monthly, 3 Month, 6 Month and Yearly candles closing this month.
Nasdaq market analysis: 23-Dec-2024Good morning, traders! Welcome to today's Nasdaq market analysis. Compare my price action insights with your own charts and enhance your trading skills.
EURJPY potential sell setup.Here at Burnt Candle, we are bearish on EURJPY, we are currently waiting to end the current trend and look for selling opportunities.
Gold trading brief: 23-Dec-2024Your daily Gold trading briefing: Zones, insights, and opportunities.
Adventure Gold (AGLD) - Cup and Handle** Near term forecast, days ahead **
On the above weekly chart price action has corrected 70% since early summer. A number of reasons now exist to consider a long position. They include:
1) Price action and RSI resistance breakouts.
2) Support confirmation on past resistance.
3) Cup and Handle pattern confirmation with 100% forecast.
Is it possible price action continue to correct? Sure.
Is it probable? No.
Ww
EURCAD 22/12/2024Weekly:
-Sellside liquidity taken.
-Next PD array is the weekly high.
Daily:
-Bullish M pattern.
-FVG.
4H:
-Bullish M pattern.
-IC.
NZDCAD SHORT
Market structure bearish on HTFs DW
Entry at both Daily and Weekly AOi
Weekly Rejection at AOi
Previous Weekly Structure Point
Daily Rejection at AOi
Previous Daily Structure Point
Around Psychological Level 0.82000
H4 EMA retest
H4 Candlestick rejection
Levels 5.01
Entry 100%
REMEMBER : Trading is a Game Of Probability
: Manage Your Risk
: Be Patient
: Every Moment Is Unique
: Rinse, Wash, Repeat!
: Christ is King.
Euro-dollar on the brink of collapseGreetings to you all, dear Devan.
I hope you support this analysis as always.
The Euro-Dollar is falling in higher time frames like months and weeks, so we expect a further fall.🔥
We are expected to correct upwards in the new trading week and begin the main fall!🩸
Be sure to keep in mind that this post is analytical and only enter the market in specific areas with your own confirmation and trading setup.✔
Good luck and stay tuned💎💲
GBPUSD SHORT Market structure bearish on HTFs 30
Entry at Daily and Weekly AOi
Weekly Rejection at AOi
Daily Rejection at AOi
Previous Structure point Daily
Around Psychological Level 1.26000
H4 Candlestick rejection
Rejection from Previous structure
Levels 9.57
Entry 105%
Short trade
15min TF Entry
Sellside trade
Mon 23rd Dec 24
6.00 pm
NY to Tokyo Session PM
Entry 15min TF
Entry 94497.9
Profit level 87710.4(7.18%)
Stop level 95545.8 (1.12%)
RR 6.41
Reason: Observing price action for 2hrs indicates the sellside at this time.
EURCHF Sell setupOverall I am bearish on the EURCHF. I would like to see a push to the downside to take the 4h low. Currently I am waiting for a push my area of interest to look for sell opportunities.
Remember, clear charts, better vision.
Gold still preparing for it's macro shift to a new yearly candle
Weekly seems to be gravitating to lower levels, clear dealign range and we're sitting in the lower half of it. I predict with everything added coming into the yearly that the new candle will seek for imbalance correction below before finding it's high
Monthly showing clear imbalance zone still resting in the lower portion of September's candle. This is where I believe the new yearly candle will want to reach
GBPAUD buy setupHere at Burnt Candle, we are Bullish on a long term basis. On this particular chart, we are waiting for price to drop first into our area of interest to look for buy opportunities to continue the anticipated Bullish momentum.
Remember, clear charts better vision
GBPUSD End of Year Swing ZonesLast trading week of the year.
SZ is calculated and set. Price already bouncing upward from SZ.
Entry @586
SL -10pips.
XAUUSD 23/12/2024Weekly:
-Bearish FVG rejected.
-Next PD array could be the weekly low.
Daily:
-Bearish W pattern.
-FVG.
4H:
-Bearish W pattern.
-H&S pattern.
we waiting for the correction to completeif the price corrects about 35 pips to the upside, when it reaches the key zone, we'll wait for a sell setup confirmation to take a sell trade....
Bitcoin - Bitcoin went below $100,000!Bitcoin is below the EMA50 and EMA200 in the four-hour time frame and is trading in its ascending channel. Capital withdrawals from Bitcoin ETFs or risk OFF sentiment in the US stock market will pave the way for Bitcoin to decline. Bitcoin sell positions can be looked for in supply zones.
It should be noted that there is a possibility of heavy fluctuations and shadows due to the movement of whales in the market and compliance with capital management in the cryptocurrency market will be more important.
Following hawkish remarks from Federal Reserve Chair Jerome Powell, Bitcoin (BTC) plummeted from its peak of $108,135 on December 17 to below $95,000. Powell’s comments, which signaled the Fed’s ongoing battle against inflation, triggered a sharp selloff in the cryptocurrency market. He indicated that only two interest rate cuts might occur in 2025, as opposed to the four cuts previously anticipated.
Additionally, the Federal Reserve revised its 2025 inflation forecast from 2.1% to 2.5%. Even the 2026 forecast stands at 2.1%, exceeding the central bank’s 2% target. This suggests that inflation could persist for another two years, compelling the Fed to keep interest rates elevated for longer than initially projected.
Bitcoin ETFs, after experiencing 15 consecutive days of capital inflows, saw an unprecedented $680 million outflow on Thursday. This trend continued into Friday, with an additional $270 million withdrawn. Cryptocurrency investors, reacting to the Fed’s decision to slow monetary easing next year, moved substantial capital out of the market.
In the United States, Bitcoin ETFs have surpassed gold ETFs in assets under management (AUM). Despite gold ETFs’ 20-year history, Bitcoin ETFs now manage $129.3 billion, compared to $128.9 billion for gold ETFs.
MicroStrategy, a company renowned for its massive Bitcoin holdings, successfully entered the Nasdaq index. With 439,000 Bitcoins valued at $42.64 billion, the company controls approximately 2% of the total Bitcoin supply. This milestone highlights MicroStrategy’s strong position in the Bitcoin market and has boosted its stock price (MSTR) to $364.20. The company’s innovative strategy of leveraging Bitcoin as a growth asset showcases a unique approach in the financial world.
Bitcoin’s volatility has steadily decreased in recent years. By October 2024, its monthly volatility had dropped to 11%, lower than that of high-profile tech stocks like Tesla (24%), AMD (16%), and Nvidia (12%).
Arthur Hayes, the former CEO of BitMEX, recently shared his outlook on the cryptocurrency market. He predicted a “horrific collapse” around the inauguration of U.S. President-elect Donald Trump on January 20, 2025.
Hayes wrote, “The market believes Trump and his team can deliver immediate economic and political miracles,” but pointed to a gap between investor expectations and the “absence of quick, viable policy solutions.”
Hayes forecasted that implementing changes to cryptocurrency policies would likely take far longer than the market anticipates. He added, “The market will soon realize that Trump, at best, has only a year to execute any policy changes in or around January 20. This realization will trigger a massive selloff in cryptocurrencies and other Trump-related trades.”
He also predicted that a “steep decline” would occur around Trump’s inauguration day, followed by a “crack-up boom phase” in late 2025. This phase, typically seen after financial crises, is characterized by rapid price increases, high inflation, and financial instability.
