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USDJPY Approaching Breakout: Will it Reach 147.21 or Pull Back?2H Chart Current Price: 144.252 After analyzing USD/JPY on the 2-hour chart, the price has broken through the major support and resistance level at 143.750. It is now approaching the upper boundary of a falling wedge, marked as the Breakout and Reversal line. We anticipate that this line could act as a barrier and potentially reverse the price if the bullish momentum isn’t strong enough. After reaching the breakout line, the price may pull back to consolidate strength before breaking through, leading it toward our price target of 147.217. On the 2-hour chart, the price is trading above all moving averages, and the RSI is currently at 65.12. On the other hand, if the price breaks through the support at 142.44, we expect it could decline further, potentially reaching 139.57.
Long
by SpicyPips
1
NEIRO - Following the Hype...Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈NEIRO has been overall bullish , trading inside the flat rising channel in orange. Moreover, it is approaching a massive round number $0.001. 🏹 The highlighted blue circle is a strong area to look for buy setups as it is the intersection of the $0.001 and lower orange trendline acting as a non-horizontal support. 📚 As per my trading style: As #NEIRO approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
1
Potential Harmonic Bearish Butterfly Could Push QQQ to $525+Here I have Invesco Trust NASDAQ:QQQ on the Daily Chart! Invesco Trust NASDAQ:QQQ follows the NASDAQ 100 Index which is Tech-Industry Heavy. Price currently is struggling at ( $485 - $486 ), the 78.6% Fibonacci Level responsible for giving us our B point in what appears to be a potential Bearish Harmonic Butterfly Pattern! Harmonic Butterfly X - B = .786 A - C = .382 - .886 B - D = 1.618 - 2.24 X - D = 1.272 - 1.618 If Price is able to break through this Level, then by the Harmonic Butterfly Parameters, we could see the CD Leg extend to the 1.272 - 1.618 Fibonacci Levels @ ( $525.30 - $553! ) Fundamentals: * Feds have already began their Easing Cycle with the more then expected aggressive 50 bps cut to Interest Rates. With more cuts already planned in the foreseeable future, this will begin to help the economy bounce back! *Thursday, Sept. 26th: Final GDP, Unemployment Claims & Powell Speaking Friday, Sept. 27th: Core PCE Index Indicators: - Price is trading Above the 200 EMA - RSI Above 50 - Bullish Volume Building
NASDAQ:QQQLong
by Novi_Fibonacci
Gold - A Reversal Will Happen SoonOANDA:XAUUSD | Gold is still in a bullish market: After the strong breakout which we saw in the beginning of 2024, Gold started another major bullish market cycle. This cycle is definitely not over soon, but Gold might create a short term correction, which would perfectly line up with the upper resistance of the rising channel. Levels to watch: $2.650 Click chart above to see the detailed analysis👆🏻 Keep your long term vision, Philip (BasicTrading)
OANDA:XAUUSDLong
by basictradingtv
1
Gold Overbought Daily, Weekly, Monthly: But Does it Matter?Gold Talking Points: Gold bulls have continued to push an impressive trend throughout 2024 and there was another extension of that this morning with another fresh all-time-high. At this point chasing fresh breakouts in gold can be seen as challenging given that it’s now showing overbought conditions on the daily, weekly and monthly charts. But – that doesn’t mean that price has to turn. Instead, the focus can shift to pullbacks of higher-low support, like what had showed around FOMC last week. It’s been an astounding rally in gold so far in 2024 and that’s continued through another week, with the metal getting another push-higher this morning on the back of dovish Fed comments from Neel Kashkari and Austan Goolsbee. The big USD driver for this week is unveiled on Friday with the most recent release of Core PCE, often considered to be ‘the Fed’s preferred inflation gauge.’ Until then, however, there’s numerous iterations of Fed-speak, including a speech from Chair Powell on Thursday morning. Markets have high expectations for more dovish-speak as rate expectations are currently showing a 76.5% probability of at least 75 bps more in cuts by the end of the year, standing against a current 23.5% probability of 50 bps, which is what the Fed’s projections pointed to last Wednesday. In gold, that FOMC rate decision delivered the last pullback as prices softened down to the $2550 zone of support. That didn’t last for long, however, as bulls pounced and continued to drive through last week’s close and this week’s open, setting another fresh all-time-high. Gold Bigger Picture: Overbought Daily, Weekly, Monthly At this point chasing gold-higher on breakouts can be a challenge. There’s been a proclivity for bulls to soften the drive on tests of resistance or at fresh highs, thereby leading to the build of a rising wedge pattern. And there’s also the matter of overbought dynamics to consider as gold is currently showing overbought readings on all of the daily, weekly and monthly chart. That does not mean that gold has to turn, however. The monthly overbought read started way back in April and, of course, gold has continued to drive since then. The weekly overbought reading re-appeared in early-September, just as bulls were gearing up for another breakout. And the daily overbought reading showed last Friday, and this is the first time that’s happened since April. That’s when gold began to stall and range which largely held through the Q2 close and the Q3 open. So, overbought doesn’t mean that this is ready for reversal. It does, however, highlight the challenge of chasing and instead points to pullback potential such as the scenario I was talking about ahead of the FOMC last Wednesday. On the below chart, I’ve highlighted the two prior episodes in 2024 when daily RSI pushed into overbought territory. Gold Shorter-Term Strategy I had shared a zone on twitter this morning that was highlighting short-term resistance around the 2625 level. Bulls breached that on the way to fresh highs and it’s now back in the picture as short-term support, which is confluent with the trendline taken from the higher-low produced after the FOMC pullback last week. This is also what I’m considering as support side of a rising wedge formation, which is often approached with aim of bearish reversals or pullbacks in bullish trends. I’m more interested in pullbacks at this point and that highlights the 2619 swing of prior resistance as a possible spot of support. Below that I have another prior swing of resistance-turned-support at 2614. If that can’t hold, the door is open to a 2600 re-test which is what held the highs just after the FOMC statement release last Wednesday. When bulls drove price above that level, the pullback showing after couldn’t even get down to 2600, holding at 2602 and this sets up a support zone of note for retracement scenarios this week. --- written by James Stanley, Senior Strategist
WHSELFINVEST:GOLDLong
by WHSelfInvest
ETH - Bullish Control Persists!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 As per our latest analysis, attached on the chart, ETH has rejected the $2,000 - $2,150 support zone and has been trading higher since then. What's next? For the bulls to take over long-term and push towards the $4,000 mark, a break above the $3,000 resistance is needed. Meanwhile, the $2,850 - $3,000 zone would be acting as a resistance. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
3
USDJPY - Following The Bears!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 USDJPY has been bearish trading within the flat falling channel in red. Currently, USDJPY is undergoing a correction phase and approaching the upper bound of the channel. Moreover, the zone marked in blue is a previous major low. 🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the major low and upper trendline acting as non-horizontal resistance. 📚 As per my trading style: As #USDJPY approaches the red circle, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
1
GBPAUD - Now We Wait!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈GBPAUD has been bearish trading within the falling channel. Currently, GBPAUD is approaching the lower bound of the channel. Moreover, the zone marked in green is a strong demand. 🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the support zone and lower trendline acting as non-horizontal support. 📚 As per my trading style: As #GBPAUD approaches the blue circle, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
4
ROSE - Getting Ready...Hello TradingView Family / Fellow Traders, On Monthly: Left Chart ROSE has been hovering within a big range between $0.05 and $0.2. Currently, ROSE is hovering around the lower bound of the range, so we will be looking for buy setups on lower timeframes. On Daily: Right Chart 📉 ROSE has been bearish trading within the falling channel in red. 📈 For the bulls to take over, we need a momentum candle close below above the last major high marked in red. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
by TheSignalyst
1
EURUSD - Wait For The Bears!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈EURUSD has been overall bearish trading within the falling channel marked in orange. Currently, EURUSD is approaching the upper bound of the channel. Moreover, the zone marked in blue is a massive supply zone. 🏹 Thus, the highlighted orange circle is a strong area to look for sell setups as it is the intersection of the supply zone and upper orange trendline acting as non-horizontal resistance. 📚 As per my trading style: As #EURUSD is around the red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
3
SMH tests major resistance levelSMH has rallied nicely the past 2 days and now reached major downward resistance level again. This is a crucial area for SMH to break in order for more rallying to continue Resistance defined well during late August ETF now presses up against resistance again Volume declines as resistance is reached. Overall I am expecting a reversal to start forming around here. Figure on SMH testing the level before retracting back down to lower levels again.
NASDAQ:SMHShort
by ratchet-mint
AU Bears "Head" Down to Target .6570Here I have AUD/USD on the Daily Chart! From Friday's High @ .67672 to its Low @ .66597, we can see we get the Confirmation of a strong reversal pattern with the Break of the Neckline of the Head & Shoulders! Now what I'd like to see off the same High and Low of Friday is Price give us a 38.2% Retracement of the Low & Pullback to test the Neckline for potential Sell Entries. ( .67008 - .6697 ) Swing High of Head to Neckline = 126.9 Pips Neckline - 126.9 = .6570 (Target) Fundamentals: AUD's undoing comes from a mix of a rise in Unemployment to 4.2% and Retail Sales ending August coming in @ 0% With the horrible run of jobs reports for the USD to start September, it managed to recover to end the week and give the idea that a 50 bps Rate Cut is less likely sitting at a 30% change and a 25 bps Rate Cut more likely at a 70% chance at the Sept 18th meeting. -RBA Interest Rate sits @ 4.35% -Fed Interest Rate sits @ 5.5% This upcoming week will be VERY news heavy for USD seeing as there is: -Core CPI, CPI m & y on Wednesday, Sept. 11th -Core PPI/ PPI m/m & Unemployment Claims on Thursday, Sept 12th!
Short
by Novi_Fibonacci
BTC - Bullish Control Persists!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 As per our latest analysis, attached on the chart, BTC has rejected the $50,000 - $52,000 support zone and has been trading higher since then. As long as the bulls remain in control, a continuation towards the $61,000 - $62,000 resistance zone is expected. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
4
Harmonic Crab Variation + Bullish RSI Divergence - GUHere I have GBP/USD on the 30 Min Chart! Price has found Support from the July Highs! Upon reaching the Low @ 1.30493 I notice a couple things: -Price is moving Lower, RSI is moving Higher = Bullish RSI Divergence -Price has created what looks to be a variation of the Harmonic Crab Pattern (not exact values) Harmonic Crab XACBD Values: X-B ( .382 - .618 ) A-C ( .382 - .886 ) B-D ( 2.618 - 3.618 ) X-D 1.618 We continue to see price move higher and I believe we will see Higher Highs up to the 1.3130 - 1.3140 Area! Fundamentals: GBP has been positive in the analyst eyes this week with the Claimont Count Change with impressive numbers and Unemployment down from 4.2% to 4.1%! -GBP will have GDP releasing Wednesday Sept. 11th with forecasts to be Positive! USD not only has Rate Cuts starting next week but this week is heavily loaded with CPI & Core CPI Wednesday along with PPI, Core PPI & Unemployement Claims Thursday Sept. 12th!
Long
by Novi_Fibonacci
2