We continue to go long on gold todayGold continued to close strongly and stabilized at 2740. From the current market, gold bottomed out and rebounded, the bullish trend remains unchanged, and there is still room and demand for further rise. Today, gold focuses on the support below at 2731. If it falls back and relies on this support, it will continue to go long!
Gold fluctuates back and forth at high levels. Gold has not been persistent recently and has been fluctuating at high levels. The 1-hour chart fluctuates at high levels. It is not meaningful to chase more now. The resistance space of gold's previous historical highs is limited. If gold breaks through the resistance of the historical highs, then it will fall back and go long. If the resistance of the historical highs is under pressure, then gold does not rule out another high and fall back, and continue to fluctuate, waiting for Friday's NFP data to find an opportunity to break through.
Trading strategy:
Today, pay attention to 2735~2731 for support and go long. We continue to be bullish on gold today and be cautious about shorting.
Community ideas
LIT About to Break Descending Wedge on Daily Chart!AMEX:LIT is in a large wedge on the Daily chart but is within a consolidation and below the 200-period averages.
If it breaks this wedge it will still fight to break the averages that are just above the resistance.
So we can say that this is a price fight zone where buyers and sellers are constantly fighting.
After that, we have a clear path to the next resistance between 1.16 and then the 1.8 region.
We can say that this is an asymmetric trade since the R/R (Risk/Return) is 15:1 if we consider the stop on the last big red candle.
Keep an eye on the breakout, now it could be a good entry since it hit the bottom of the wedge, but it is still below the averages on the daily and the 4h chart for both the Lit/BTC and Lit/USDT pairs.
This is one of the trades that can put a lot of money in your pocket if managed correctly!
MYRO Long Spot Trade (Structure Shift & Support Flip)Market Context: MYRO has reclaimed the $0.10 level, flipping former resistance into support and signaling a structure shift to the upside. This provides a solid entry zone with a favorable risk-to-reward ratio as the setup targets mid-range and higher levels.
Trade Setup:
Entry: Around $0.11
Take Profit:
First target: $0.16
Second target: $0.22
Third target: $0.26
Stop Loss: Daily close below $0.09
This setup capitalizes on the structure shift with targets aligning with key levels. #MYRO #Crypto #Trading #SupportFlip
USDJPY | 29.10.2024SELL 153.750 | STOP 154.600 | TAKE 152.750 | The pair is showing strong growth, updating local highs at the end of July: the instrument tested the 153.750 mark for an upward breakout, while trading participants are awaiting the publication of the October report on the US labor market at the end of the week. We expect a slight pullback in the price to the area of 152.750 - 152.500.
Kaspa – Could this finally be the moment I'm right? TA + TPDescending Trading Channel:
KASPA is currently trading within a well-defined descending channel, with both resistance and support levels guiding its movement.
The price has consistently rebounded from the lower support line while facing rejections near the upper resistance line.
Potential Reversal Signals:
RSI (Relative Strength Index): The RSI is currently around the 39 level, suggesting that KASPA may be entering an oversold zone. This could indicate a potential reversal if the RSI crosses the 40-50 threshold.
Stochastic Oscillator: Showing a reversal from oversold conditions, implying a possible short-term bullish momentum.
VMC Cipher & HMA Histogram: The VMC Cipher indicator and HMA histogram are showing early divergence signals and possible upward momentum, indicating potential price strength if the pattern continues.
Breakout Probability:
If KASPA manages to break above the descending channel’s resistance with sufficient volume, it could signal a bullish breakout.
A breakout above $0.12 with strong momentum could potentially lead to a mid-term upward trend.
Trading Plan
Entry Points:
Aggressive Entry: Enter at the current price around $0.115, anticipating a breakout from the descending channel.
Conservative Entry: Wait for a breakout above $0.12 with a retest and confirmation of support, minimizing the risk of a false breakout.
Stop-Loss Placement:
Place a stop-loss slightly below the current descending support line, around $0.11, to limit potential losses if the price reverses downward.
Profit Targets:
Target 1: $0.14 (near previous highs within the channel).
Target 2: $0.16, aligning with the upper trend lines in a possible new uptrend.
Target 3 (Long-Term): New all-time high (ATH), estimated around $0.22 if momentum sustains.
Time Estimation for New ATH:
Based on previous price cycles and behavior, a bullish breakout from the descending channel could gradually drive the price toward a new ATH in approximately 2-3 months. This timeline considers consolidation phases and typical market momentum seen in KASPA's previous movements.
Risk Management:
Use 1-2% of the portfolio per trade to manage exposure.
Adjust stop-loss and targets as the trade progresses, monitoring for potential corrections or unexpected reversals.
This trading plan and analysis anticipate a bullish breakout based on the current technical setup. However, always monitor for confirmation and adjust for new market conditions.
SHIB some educational point for investors (educational)Hello and greetings to all my valued followers and crypto enthusiasts. In this IDEA, I aim to provide some educational points and overview of the SHIBUSDT’s position. 🙌🐋
The SHIB token is one of the loudest tokens in the crypto market over the past few years, especially during the peak of the crypto market. It was a time when many investors flooded into the market, and this token experienced a significant explosive price increase.
It had a large community and a very powerful tool known as media, which resulted in a massive influx of capital over a few months. Buyers at various levels and stages were purchasing this token, and their wallets saw beautiful positive green numbers, realizing substantial profits. However, before they could withdraw these profits, just like what happens to most of these upward explosions, they fell into doubt and uncertainty.
This capital, like layers of sedimentary rocks formed at the bottom of the sea, became trapped and stagnant in the same purchased assets.
As I mentioned, contrary to the potential this token has, it has fallen into a deep sleep, and to emerge from this slumber, a new influx of capital is needed. Nevertheless, it still holds great potential for growth.
The point I want to emphasize today, or rather share from my personal experience, is to sometimes embrace the events that occur in life and give a new color to your path with this acceptance. Financial markets, much like life, embed the psychology of human beings in every layer.
If you encounter failure or loss, stopping your losses at any moment is a golden win for you. I’ll keep my words short to have a deeper impact on you; just think carefully about my words and don’t repeat my past experiences.
Now, I’ll provide a brief summary of the upcoming trend for the SHIB token: the price of this token is currently experiencing a range and calm cycle similar to most market trends, and with a new influx of capital, we can expect a good price increase.
Summary: learn to accept your mistakes and cut the loss as soon as possible, don't steak to your pleasant moment happened in the past and respect this as well in crypto market too.
Thank you for your attention. If you have any questions or comments, I’m here to respond to you. 🐋💡
TSLA technical analysis for today’s scalping and swing Oc. 29Key Levels
Resistance:
273.58: This appears to be a major resistance zone, possibly challenging for a breakout.
261.56 - 262.86: A range showing short-term resistance. A clean break above may lead to further upside movement.
Support:
249.89: Key support that has previously held.
223.56 - 223.84: Major swing support area. If price reaches this level, it could attract buyers for a potential bounce.
Entry/Exit Points
Scalping:
Entry: Look for quick entries around 262.86 if price finds support at this level. A breakout above 273.58 may offer a continuation scalp.
Exit: For scalps, consider exiting around 273.58 or on signs of resistance just below 269.19 if you entered at lower levels.
Swing Trading:
Entry: Consider entering a long position if price pulls back to the 249.89 support and shows bullish signals.
Exit: Target exits near 261.56 if there is resistance or a strong rejection, or higher around 273.58 if momentum is favorable.
Directional Suggestion
Bullish Bias if TSLA can hold above 262.86. Watch for a potential test and breakout towards 273.58.
Bearish Possibility if TSLA breaks below 249.89, potentially moving down toward 223.56 for a retest.
Disclaimer
This analysis is for educational purposes only and does not constitute financial advice. Please conduct your own research and consult a financial advisor before making trading decisions.
U shape recovery on cards for Nifty. There is a chance of U shape recovery on Nifty if it is able to beat Mother and father line resistance. Today we saw a swift recovery by Nifty after making a low of 24140. Nifty closed at 24466. That was a recovery of 326 points which is quite remarkable. The only negative point was the close which is 2 points below the Mother line resistance of 50 Hours EMA at 24468. With this close if we can get an opening above Mother line tomorrow and if Nifty sustains above it we can see further swift recovery till Father line of 200 Hours EMA which is at 24887 with a trend line resistance at 24613.
Nifty Resistances remain at: 24468 (Strong Mother Line Resistance) , 24613(Strong Trend Line Resistance), 24887 (strong Father Line resistance), 24917 and 25204. Above 25204 Bulls can come back aggressively.
Nifty Supports Remain at: 24349, 24173 and 24073. Below 24073 Bears can get very aggressive in dragging the market downwards.
To know more about Mother, Father and Small child theory and it's correlation to stock price and 50 and 200 days EMA read my book. The Happy Candles Way to wealth creation available on Amazon in Paperback and Kindle version.
Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
SILVER: Move Down Expected! Sell!
Welcome to our daily SILVER prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the downside. So we are locally bearish biased and the target for the short trade is 33,92164$
Wish you good luck in trading to you all!
Vitalik Buterin Drives New Innovations & Bullish Trends for ETHEthereum ( CRYPTOCAP:ETH ), the world’s second-largest cryptocurrency by market cap, is undergoing a transformative journey, marked by visionary updates and community-driven momentum. With Ethereum’s recent price surge to $2,631, up 4.11% in the last 24 hours, and a broader bullish trend across the market, the Ethereum ecosystem is positioning itself as a powerhouse in blockchain technology and decentralization. This article explores both the technical and fundamental aspects influencing Ethereum’s outlook, along with new philanthropic efforts led by Vitalik Buterin.
Vitalik Buterin’s MIL:1M Donation to Ukrainian Humanitarian Aid
One of the biggest stories recently has been Vitalik Buterin’s donation of over 400 ETH (approximately $1 million) to four Ukrainian humanitarian organizations, including one helping children affected by the ongoing conflict. This philanthropic act underscores Ethereum’s commitment to community-driven initiatives and the impact of decentralized finance (DeFi). Interestingly, the ETH used in this donation came from swapped meme coins, including $MOODENG, $EBULL, and $DOG. This donation not only provides aid to those in need but also highlights the growing role that cryptocurrencies, even meme tokens, play in supporting humanitarian causes.
Ethereum’s Evolution: “The Splurge” and Upcoming Hard Fork
The Ethereum protocol is on the verge of critical updates with the upcoming hard fork, as outlined in Vitalik Buterin’s “The Splurge.” This final segment of Ethereum’s development roadmap focuses on refining the Ethereum Virtual Machine (EVM), introducing account abstraction, optimizing transaction fees, and enhancing cryptographic functions.
1. EVM Object Format (EOF): The next upgrade will integrate the EVM Object Format, bringing a modular approach to Ethereum’s code. This update allows for better code separation and improved performance, making the network more efficient for smart contracts and decentralized applications (dApps).
2. Account Abstraction: A significant focus within “The Splurge” is account abstraction, which enables greater flexibility in transaction verification. This enhancement will allow users to pay transaction fees in ERC20 tokens instead of solely in ETH, broadening accessibility across the network.
3. Transaction Fee Optimization and Cryptographic Advancements: Ethereum’s upcoming update aims to make transaction fees more predictable and cost-effective. The use of advanced cryptographic methods will also enable more robust and efficient blockchain operations, further enhancing Ethereum’s performance and scalability.
As these updates take effect, Ethereum’s potential is expanding, as evidenced by decreasing fees on decentralized exchanges (DEX) and growing developer interest.
Technical Analysis
Ethereum’s technical indicators paint a promising picture. Currently trading at $2,631, CRYPTOCAP:ETH has shown a 2.47% uptick, largely mirroring Bitcoin’s bullish rise to $71,000. Ethereum’s RSI sits at a healthy level, confirming a favorable momentum pattern that aligns with bullish technical formations.
Ethereum’s chart shows a subtle rising wedge, suggesting the possibility of a continued uptrend. The appearance of a “three white soldiers” pattern—a bullish formation where three consecutive candlesticks close progressively higher—signals an upward reversal, reinforcing the likelihood of Ethereum ( CRYPTOCAP:ETH ) pushing towards the $3,000 mark.
Ethereum’s Relative Strength Index (RSI) remains stable, indicating there is room for further upward movement before hitting overbought levels. Paired with increasing volume, this setup is favorable for a bullish continuation as investor confidence grows.
If momentum continues to build and Ethereum ( CRYPTOCAP:ETH ) maintains its trajectory, a pivot towards the $3,000 mark seems plausible, especially given the upcoming hard fork and increasing institutional interest.
A Strong Community and Visionary Leadership Drive Ethereum’s Momentum
Ethereum’s role in the crypto world goes beyond price movements and technical charts. Since its inception, Ethereum has fostered a decentralized ecosystem that enables users worldwide to create, transact, and innovate. Vitalik Buterin’s leadership has emphasized social good, community engagement, and technological advancement, allowing Ethereum to retain a strong community and global relevance.
With ongoing developments like “The Splurge” and continued network upgrades, Ethereum ( CRYPTOCAP:ETH ) has deem fit to be a robust and scalable platform that can accommodate both the needs of developers and the demands of decentralized finance.
### Conclusion: Ethereum’s Path to $3,000 and Beyond
Ethereum ( CRYPTOCAP:ETH ) is at a pivotal moment in its evolution, and current technical indicators and development updates signal a bullish future. With the imminent EVM upgrades, transaction fee optimizations, and the support of a vibrant community, ETH has the momentum to reach new heights. Investors should watch for a potential breakout towards the $3,000 pivot as Ethereum ( CRYPTOCAP:ETH ) solidifies its place as a leader in the blockchain space.
GBPJPY Will Move Higher! Buy!
Take a look at our analysis for GBPJPY.
Time Frame: 1h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is trading around a solid horizontal structure 199.119.
The above observations make me that the market will inevitably achieve 199.813 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
Like and subscribe and comment my ideas if you enjoy them!
NZDCHF Sell ForecastNZDCHF New forecast👨💻👨💻
Note:
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Solana will make new ATHsThe upcoming US-Election is coming closer and closer with only 8 days left till election day. As we all know Trump supports cryptocurrencies and might give Bitcoin a boost. If Bitcoin can stay stable above 70k until the election, I think that there will be a new ATH in November. Solana just broke out of this big long-lasting pattern, which is very important for the further price development. The target of this pattern lies at around 280-380 dollars . I think Solana will reach the top in late Q1 2025/ early Q2 2025 . I expect the top to be at around 400 dollars.
Brent Crude: Will De-escalation Lower Prices Even Further?Brent crude oil prices remain bearish below the October 29 high of $72.15 per barrel, with traders likely targeting the recent low around $70.49. A break below this level could drive prices further down to the next support at $69.40. Conversely, a push above $72.15 could lift prices higher, potentially closing the gap from Sunday. This gap emerged after news that Israel’s attack on Iran avoided energy production facilities, and Iran’s response was restrained. As a result, the market removed some of the risk premium that had been pricing in a wider regional conflict.
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Shiba Ready to Explode? Two Patterns Point to Massive VolatilityAltcoins like Shiba Inu are gaining momentum as Bitcoin edges closer to a new all-time high.
For Shiba, the last 135 days of price action on the 3-day chart reveal two significant patterns. First, an inverse head and shoulders pattern suggests that a breakout above the October 18 high could drive Shiba Inu up by 37.71%, reaching the upper level indicated on the chart. Additionally, over the last 30 days, Shiba Inu appears to be in a smaller rectangle-like pattern that would also trigger on a move above the October 18 high, signaling a potential 20.95% gain. Ideally, the market would trade sideways for the next 48 hours just below this key level, setting up an excellent risk-to-reward ratio for a breakout opportunity.
What’s your take on Shiba Inu’s potential?
This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.