Lingrid | GOLD Head and Shoulders Pattern EmergesOANDA:XAUUSD market has plunged during the London session, breaking and closing below the psychological level of 2700. Prior to this drop, the price action appeared to be forming a head and shoulders pattern, which is typically a reversal formation. Additionally, it has broken and closed below the upward trendline that has supported the price since the beginning of August. While the major trend remains bullish on the higher timeframes, I believe the market may be entering a deeper correction phase, as mentioned in my weekly forecast. With high-impact news today, we can expect heightened volatility in the NY session. I expect the market to retest the trendline and the resistance zone at 2700, followed by a bearish move towards the previous monthly low. My goal is support zone around 2615.
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Lingrid | GBPAUD pullback Towards BEARISH ContinuationThe price perfectly fulfilled my previous idea. It hit the target zone. FX:GBPAUD is currently making lower lows, which indicates a prevailing bearish momentum. The recent price action shows that it broke and closed below the consolidation zone, further reinforcing the bearish outlook. Additionally, the price tested the resistance zone twice before breaking through, highlighting the significance of that level. Therefore, I expect the market to pull back toward the resistance zone before continuing its bearish movement. This pullback could provide a good opportunity for sellers to re-enter positions, anticipating further downward pressure. My goal is support zone around 1.94295
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Lingrid | AUDJPY short from RESISTANCE zone at 101.000 The price made a false breakout of the resistance zone at 102.00, leading to a bearish impulse move. Following this, $FX: AUDJPY declined sharply after testing the upper boundary of the upward channel, where it rebounded. I believe that it will continue to move downward and test the support level, especially considering the long-tailed bar formed on the weekly timeframe, which suggests a potential shift towards lower levels. Moreover, the overall trend is rather sideways, with the price having made a false breakout at the top of the range. Therefore, I anticipate a pullback towards the resistance zone, followed by a bearish move. My goal is the support zone around 96.170
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Lingrid | EURUSD bearish MOMENTUM: Short from RESISTANCE zoneThe price perfectly fulfilled my last idea. It reached the take profit level. FX:EURUSD has recently formed a strong impulse leg down, breaking and closing below the previous support level on the 4H timeframe. Currently, the price is generating a long-tailed bar, which could indicate a potential pullback against major trend. Also recent surge in the TVC:DXY , shows a bearish sentiment and on the daily timeframe, the price broke through the upward trendline that has been in place since April, further confirming bearish sentiment. I expect a pullback in the near term, but the overall trajectory seems to suggest that the market will continue to move down or consolidate after the impulse leg. My goal is support zone around 1.06700
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Lingrid | TONUSDT remains in a SIDEWAYS TrendThe price perfectly fulfilled my last idea. It has reached the target level. OKX:TONUSDT is currently making lower highs, indicating a potential bearish trend, and is also making equal lows, indicating that there is still buying pressure. Given this price action, it is possible that the market could move lower to break the recent equal lows before attempting to move higher. I expect the market could take liquidity below the support level, which would support a bullish move and a retest of the descending trendline that has been in place since August. My target is the resistance zone around 5.775
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Is Gold's correction over?In my recent analyses, I warned that a significant correction in Gold prices was inevitable.
True to this prediction, the election of Donald Trump triggered a sharp 1,000-pip drop in Gold's value.
However, yesterday, the market rebounded strongly, recovering 700 pips from that initial decline.
The big question now is whether this correction has run its course.
In my view, we may have reached a bottom, and Gold could be poised to resume its overall uptrend.
I’m currently looking for buying opportunities on dips.
Lingrid | EURNZD channel BREAKOUT. Short from the RESISTANCEFX:EURNZD broke and closed below the upward channel. The price consolidated above the psychological level of 1.81000 but failed to continue its upward movement, instead shifting downwards and creating an impulse leg. On the weekly timeframe, the price remains within a consolidation zone and has recently bounced off the top of this zone, moving downward. I anticipate that the market to form a pullback, reject the channel border, and then move downward towards the bottom of the consolidation zone. My goal is support zone around 1.77700
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Lingrid | SHIBUSDT possible Upward SurgeThe price perfectly fulfilled my last idea. It hit target zone. BINANCE:SHIBUSDT recently formed a double bottom, followed by a upward move. It has now created an equal high, suggesting that the market is entering a consolidation phase. However, I believe the market may be gearing up for an upward surge, as the price is currently in an accumulation phase. On the daily timeframe, we observe strong bullish impulse moves accompanied by gradual pullbacks, indicating persistent buying pressure. I anticipate that the market to target liquidity below the previous daily low before retesting the area above the equal high. My goal is resistance zone around 0.00002050
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COIN Coinbase Global Options Ahead of EarningsAnalyzing the options chain and the chart patterns of COIN Coinbase Global prior to the earnings report this week,
I would consider purchasing the 200usd strike price in the money Calls with
an expiration date of 2024-11-15,
for a premium of approximately $21.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Lingrid | GOLD Buying OPPORTUNITY from Psychological LevelThe price perfectly fulfilled my last idea. It hit target zone. OANDA:XAUUSD bounced off the psychological level at 2700 after breaking out of the consolidation zone. Given that it has also broken the previous week's low, there is a possibility of a fake breakout at this level. It seems likely that the market may move sideways until the upcoming Fed rate cut decision is announced. This anticipation often leads to decreased volatility as traders await direction. If the market does pull back towards the support level and shows signs of rejection, it would strengthen the case for a move higher after the news is released. My goal is resistance zone around 2760
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NZDUSD: Bullish scenario The 4H market structure is bullish
Also as you can see on the chart the 15 min chart is bullish.
So it can be a good opportunity to buy on the demand zone with LTF confirmation.
Please pay attention, both demand zones are valid, we can enter to the position with LTF confirmation.
Lingrid | TRXUSDT pullback and CONTINUATION of the BULLISH trendThe price perfectly fulfilled my last idea. It hit the target level. BINANCE:TRXUSDT has been showing a bullish trend, consistently making higher lows and higher highs. Recently, the price pulled back from the resistance zone but found support at the psychological level of 0.1600. After that, the market dipped below the previous week's low to grab liquidity before continuing its upward movement. Given these factors, I believe the market may reach the recent resistance zone again. My goal is resistance zone around 0.1676
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Lingrid | GOLD Pre-Election Weekly MARKET AnalysisOANDA:XAUUSD market recently bounced off a resistance zone, making a impulse move lower. The last time the market approached the psychological 2700 level, it reached 2685 and then bounced off the resistance zone, spending over three weeks in a sideways move before eventually hitting 2700. With the recent bounce off the resistance zone at 2787, it seems likely that the market could remain in a consolidation zone for now.
With the overall trend being bullish, any pullback could present an opportunity to enter long positions. However, it is important to consider that this upcoming week is an election week, which could lead to unexpected market reactions. Historically, the gold market has seen corrections after every election since 2012, and it is possible that we may see a similar pattern this time around, especially given that there has not been a red month since March. This scenario suggests that the market could spend another couple of weeks moving lower towards the October lows.
On the weekly chart, we also see a long-tailed bar, indicating a potential retest of the 2650 support zone if the price breaks and closes below the previous week's low. With the upcoming presidential election and federal funds rate announcements, it is important to remain vigilant and be prepared for increased volatility and potential market corrections.
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Lingrid | EURUSD pullback and Continuation BEARISH TrendThe price perfectly fulfilled my last idea. It reaced the target zone. FX:EURUSD has gapped up and it's moving toward the resistance zone; however, the overall trend remains bearish. There is a possibility that the market move down if it rejects the resistance zone and the upper border of the channel. Historical price action indicates that the market has bounced off this level multiple times, reinforcing its significance as a resistance area. I expect that the market to initially push above the previous week's high, followed bearish move to fill the gap. My target is support zone around 1.08510
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Lingrid | TONUSDT bearish MOMENTUM. ShortOKX:TONUSDT is currently making lower lows and has closed below the psychological support level of 5.00. The bounce from the support was weak, lacking any bullish momentum. Additionally, the October monthly candle closed bearish, suggesting that the price could potentially move to even lower levels. On the daily timeframe, the market formed relatively equal lows, which include both the September and October lows. I believe the market may retest these levels to grab liquidity. After forming a range zone, the market eventually broke through it, pulled back for a retest, and continued its downward move. Therefore, I anticipate that the market to either move lower or enter a consolidation phase. My target is support zone around 4.530
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Lingrid | GBPNZD fake BREAKOUT of the Previous DAY highFX:GBPNZD has reached a strong resistance zone on the daily timeframe, pulling back from the 2.18000 level. As observed, the price has been creating impulse legs followed by weaker pullbacks. Recently, the market formed a compression channel or an ascending triangle pattern. I anticipate bearish momentum potentially forming ABV pullback toward the support level, especially since the market made a fake breakout above the previous day's high. My goal is support zone around 2.15610
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Lingrid | SUIUSDT continues to CONSOLIDATE after SURGEThe price perfectly fulfills my last idea. It hit the target level. BINANCE:SUIUSDT is currently consolidating around the round number of 2.00. It may continue moving sideways, particularly after the recent fake breakout of the all-time high level formed in March. If you zoom out, you can see that the price action is forming a triangle pattern. I believe there is a possibility that the price may retest the 1.50 support level, which would be a healthy pullback that could lead toa new higher highs. Given that the market is moving sideways, I expect it to retest the recent support level from the psychological level at 2.00. My goal is support zone around 1.7450
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GILD Gilead Sciences Options Ahead of EarningsAnalyzing the options chain and the chart patterns of GILD Gilead Sciences prior to the earnings report this week,
I would consider purchasing the 89usd strike price Calls with
an expiration date of 2024-11-15,
for a premium of approximately $2.91.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Lingrid | BITCOIN retest of SUPPORT zone for BULLISH MomentumThe price perfectly fulfilled my last idea. It hit the target zone. BINANCE:BTCUSDT has recently pulled back after aggressively retesting the ATH level. The long-tailed bar on the weekly timeframe suggests that the market may form a deeper pullback, indicating that buyers are hesitating to buy at higher levels. Despite the market breaking and closing above the highs from September, August, and July on the monthly chart, which is a bullish sign, there is a possibility that the price may retest the September high at the support level of 66,000. This could provide an opportunity for buyers to step back in before a potential continuation of the upward trend. A retest of the 66,000 level would not only serve as a confirmation of support but could also attract more bullish sentiment as the market gathers strength for another push upwards. My target is resistance zone around 72,700
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Lingrid | CHFJPY buying OPPORTUNITY from SUPPORT zoneFX:CHFJPY is currently in a bullish trend, and the price is pulling back towards the support level at the psychological level of 175.000. This pullback presents an opportunity for the market to test both this key support level and the upward trendline. I expect that the price will bounce off the psychological level, confirming the overall bullish trend and potentially leading to a continuation of upward movement. If the support holds, it could provide a solid entry point for bullish trades. My goal is resistance zone around 178.000
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Lingrid | EURUSD Hits DEMAND Zone with LONG PotentialFX:EURUSD has reached the demand zone from which the price surged in August. The market experienced a fake breakout at the 1.078000 level, which may suggest a potential pullback. I believe the market could retrace towards the resistance level because it is maybe overextended, and the TVC:DXY has also reached a key resistance zone. On the 4H timeframe, the market has formed a bullish divergence, indicating a possible correction in the market. My target is resistance zone around 1.09190
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Lingrid | GOLD takes a BREATHER before the next BULLISH MoveOANDA:XAUUSD dipped sharply following unfavorable news for gold. However, the market found support after testing both the support level and the upward trendline. Given the recent significant bearish move, we can anticipate some sideways movement in the near term. While the October candle closed bullish, suggesting potential for bullish trades, the daily timeframe has formed a "three-candle reversal" pattern, which is somewhat concerning. If this pattern plays out, the price could potentially drop to 2700. Nevertheless, given the prevailing bullish trend, I expect the market to consolidate below the psychological level of 2800 before breaking through it to retest that level. My target is resistance zone around 2785
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