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GBPUSD: Consolidation and Complete Indecision 🇬🇧🇺🇸 Even though GBPUSD is trading in a bullish trend since October, the pair is in a deep consolidation, the last 3 weeks. The pair is currently stuck within a horizontal range on a daily. Depending on the reaction of the price to its boundaries, I see 2 potential scenarios. Bullish Scenario If the price breaks and closes above 1.283, we can anticipate a movement higher to 1.294 resistance. Bearish Scenario If the price violates 1.26 support and closes below that on a daily, a bearish continuation may follow to 1.255 level. Because the long-term trend is bullish, I remain bullish biased. Chances will be high that the resistance of the range will be reached. ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
1
GBPJPY: Top-Down Analysis & Nice Short 🇬🇧🇯🇵 GBPJPY is trading within a wide horizontal range on a daily. The price is currently testing its resistance. On an hourly time frame, we can see how the pair was weakening after it started to approach the underlined blue area. After a strong bullish impulse, the price formed a rising channel. Test of structure triggered a strong bearish reaction and the price violated the support of the channel. For me, it is a strong bearish confirmation. I expect a bearish movement to 182.5 level now. ❤️Please, support my work with like, thank you!❤️
Short
by VasilyTrader
3
EURAUD: Classic Bullish Reversal 🔀 The 📈EURAUD pair experienced a consistent decline while following a falling wedge pattern. However, when it reached the support level of 1.6140, the market began to consolidate within a sideways range. Last Thursday, the bulls successfully broke through both the range resistance and the resistance of the wedge pattern. This is a significant indication of the buyers' strength. I anticipate a pullback to the level of 1.6467...Trade safely 👍✅
Long
by linofx1
1
#NVDA ready for another push higher? Techs look sexyNvda.. couple of reasons why this is a big level and high probability to be long (1) Divergence on RSI (2) Test volume VPOC shelf and held (3) Demark 9 exhaustion signal on daily (4) Gliding off the 50dma (5) Held 50% fib from most recent swing low and high (6) Back above the Main Pivot Putting this all together suggests there is a high probability setup here with a stop below the recent lows at 450. Initial targets 480, 500, then if we break out the channel , much higher..
NASDAQ:NVDALong
by MarcoOlevano
1
#USDZAR stuck between 18.95 and 18.20. USDZAR some interesting developments for the Rand bulls. 50dma < 200dma (death cross). 3 lower highs forming what could be a potential flat bottom triangle with the base at 18.10-18.20. Some bullish characteristics here which could be shifting sentiment in favour of the bulls but it's still too early too call. Range bound between 18.95 and 18.20 now. A convincing break above or below the two levels will be needed to force a move in either direction.
Short
by MarcoOlevano
1
ATOM's TRAP Under Horizontal channelATOM, the crypto maverick, finds itself ensnared in a substantial horizontal channel, delineating clear upper and lower boundaries. Unbeknownst to many, this channel serves as a significant catalyst, propelling ATOM's price action with vigor. The strategic use of stop losses becomes the impetus for a potential surge, and the $20 mark looms on the horizon. Navigating the Horizontal Channel: Formation of Clear Boundaries: ATOM's price action has meticulously constructed well-defined upper and lower boundaries, encapsulating it within a compelling horizontal channel. This channel acts as a psychological and technical battleground for traders, setting the stage for dynamic market interactions. Trader's Dilemma: Traders often find themselves trapped in this horizontal channel, faced with the challenge of navigating within these clearly demarcated limits. The confined space intensifies market dynamics, creating an environment ripe for rapid price movements. Stop Loss Dynamics: Strategic Stop Loss Placement: Within the constraints of the horizontal channel, traders strategically place stop losses. This becomes a pivotal factor influencing accelerated upward movements as stop losses trigger in reaction to specific price levels. Catalyst for Growth: The systematic triggering of stop losses is a catalyst for swift and decisive price action. It induces a domino effect as one trader's stop loss triggers another's entry, fostering momentum and potential breakout scenarios. Anticipating the $20 Milestone: Psychological Price Point: The $20 mark stands out as a psychological barrier within the context of ATOM's horizontal channel. Breaking through this level could signal a shift in sentiment and trigger intensified buying interest. Technical Indicators: Traders should keep a close eye on technical indicators, volume trends, and momentum oscillators for confirmation of the potential breakout. Such indicators can provide valuable insights into the strength and sustainability of the anticipated surge. Conclusion: Accelerated Growth on the Horizon ATOM's confinement within the horizontal channel is not a restraint; rather, it's a catalyst for dynamic price movements. The strategic placement of stop losses within this channel sets the stage for a potential surge, with the $20 milestone serving as a significant focal point. 🚀 Horizontal Channel Dynamics | 🔄 Stop Loss Triggers | 🎯 Targeting $20 📊 Share your insights on ATOM's journey within the horizontal channel and your predictions for its impending price action! 💬📈
by Yaroslav_Krasko
Bitcoin will continue to crash to 36 600Bitcoin is really bearish at this moment. We have had a massive crash recently, and this is not looking good. My technical analysis suggests that we have completed the impulse wave (3) and are in a corrective phase wave (4). This corrective phase should end at 36 600 USDT, and then I am expecting another pump to reach 48 500 USDT. On the chart, you can see a symmetrical triangle, and the price went above it; unfortunately, it was a false breakout / fakeout. Usually, what happens after such an event is that prices reverse and go in the opposite direction. Triangles are usually marketed as wave (4) from the Elliott Wave perspective. 36,600 is a strong support because it is in the middle of the previous consolidation. Also, this is the first major swing low, right before the previous pump. There is definitely a lot of liquidity, which is a magnet for whales. Let me know what you think about it, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades.
Short
by Xanrox
3
EURUSD: Structure Based Trade Explained 🇪🇺🇺🇸 EURUSD is testing a wide daily horizontal demand area. The price is currently ranging on an hourly time frame. A bullish breakout of the resistance of the range - an hourly candle close above 1.1085 - will be your solid bullish confirmation. A bullish continuation will be anticipated at least to 1.1106 level then. If the price drops lower, the setup will become invalid. ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
3