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Injective- Good buy for 50% riseBack in winter, when everyone was super bullish and the hype around some coins, particularly INJ, was incredible, I predicted that the coin could drop to 20. Indeed, since then, INJ/USDT has dipped into that zone several times and even fell below 20 recently. Although I don't see INJ reaching 100 or achieving the lofty multipliers that some people dream of when trading crypto, I believe this is a good opportunity for a buy trade with a potential 50% gain. Technically, the 20 zone is now a very strong support level and also coincides with an old congestion zone, which should provide additional support. In conclusion, I'm looking to buy around 20, and by setting a stop loss just below the recent spike down, a risk-to-reward ratio of more than 1:2 could be achieved with this trade.
Long
by Mihai_Iacob
9
EurUsd- Rise to 1.11 this summerRecently, EUR/USD found support and formed a strong base just below the familiar 1.07 level. The pair began to rise and has been in a consolidation phase since Friday's Non-Farm Payroll (NFP) report. However, the pair is currently testing Friday's high, and a breakout seems imminent. If this occurs, we could see an acceleration to the upside, with my medium-term target at 1.11. Interim resistance is at 1.1, and to be honest, the highs from mid-May to early June are not expected to pose much trouble for the bulls and should be broken easily.
Long
by Mihai_Iacob
1
Silver Forecast: A Potential 10,000 Pip Surge on the Horizon!I understand the title may seem bombastic and possibly clickbaity, but in my view, there's a solid case for OANDA:XAGUSD potentially rising by $10 in 2024. Here's why: Observing the chart, unlike OANDA:XAUUSD , Silver has been trading within a range for precisely a year now, failing to establish new highs. However, on a positive note, since the pandemic low, the price has been forming higher and higher bases, suggesting the potential for building upside momentum in the longer term. From a strictly technical standpoint, as mentioned, we've been stuck in a range for over a year, with a clear resistance level around the $26 zone. If the bulls manage to break above this significant level, considering the one-year-long accumulation, I believe we could witness an explosive rise that might propel Silver to $35, with a potential pit stop at interim resistance around $30.
OANDA:XAGUSDLong
by Mihai_Iacob
12
Bitcoin- Major false break and back to 70k after?Last week, Bitcoin broke below the important 60k support level, which coincides with the neckline of a double top. However, after an initial drop to the 53k zone, the price quickly recovered, forming a daily pin bar and leaving a double bottom on short-term time frames. Now, Bitcoin is back in the broken support level zone. Considering the quick recovery, in my opinion, this will prove to be a false break, not a test and continuation downwards. I am looking to buy dips against the recent low with a target around 70k.
BITSTAMP:BTCUSDLong
by Mihai_Iacob
2
GbpNzd could rise and test 2.12 resistance (1:3 R:R)Since the beginning of the year, GBP/NZD has been on an upward trajectory, making higher lows and higher highs on the daily chart. Last week, the pair briefly dropped below support, but this was a false break, strongly reversed by Friday's price action. Currently, a new higher low seems to be forming. In my opinion, the pair will continue its upward movement and test the previous high around 2.12. My strategy is to buy on dips against the recent low, aiming for a 1:3 risk-to-reward ratio.
Long
by Mihai_Iacob
3
XauUsd and my bearish scenariosDespite recent fluctuations, my medium-term bearish outlook on gold remains firm. Last Friday’s NFP report caused a spike that hit my stop loss at 2390, leading me to temporarily exit the market. My Scenarios: Rise and Sell: Gold may rise to test 2400 or higher. If it shows weakness at this level, I'll look for a selling opportunity, targeting a drop back to the support level(around 2300) Consolidation and Drop: If gold fails to break above the recent high, I expect a drop to support (2300), marking this new high a strong ceiling level. Daily Time Frame: On the daily chart, yesterday’s drop negated the NFP rise, reinforcing my bearish outlook. If gold rises again above 2400, in my opinion it’s unlikely to hold gains, also suggesting a continuation downward.
OANDA:XAUUSDShort
by Mihai_Iacob
6
UsdJpy- Don't p..s against the wind!If there has been a clear trend in the past two years, it has been the devaluation of the JPY. Despite some corrections, even very deep ones, the trend has always resumed, leading to new lows for the JPY. One of these deeper corrections occurred at the end of last year, triggered, as always, by JPY repatriation. However, as shown on the chart, the beginning of 2024 saw the resumption of the upward move. Only the BoJ intervention at the end of April and beginning of May at the 160 level stopped the ascent. The chart shows that the pair has been acting very technically since then, with the drop stopping and reversing precisely at the horizontal support that was previously resistance. Since then, USD/JPY has started making higher lows again and is now trading around 160. Only time will tell if the BoJ will be determined to defend this level but, in my personal opinion, it is better to look to buy on dips (around 158) rather than sell at this resistance, hoping for another intervention.
by Mihai_Iacob
Gold could test above 2400 once moreThe 2290 zone has proven to be very strong support for gold and bulls regained control from that area. Last week, XAU/USD continued its ascent, and Friday's NFP brought a new rise, breaking above the 2365-2370 resistance zone and closing the week at 2391. Currently, the structure is bullish with confluence support at 2365. Although I don't foresee sustained gains above 2400 in the medium term, a new test of levels above this important threshold is likely in the near term. Short-term traders could consider buying dips near the support, with invalidation below Friday's low.
OANDA:XAUUSDLong
by Mihai_Iacob
1
Bitcoin- The Good, The Bad and The UglyAs I mentioned in my previous posts, I am bullish on Bitcoin and expected a break above $71,000 with a rise to at least $85,000. However, I always consider multiple scenarios. In this post, I want to discuss all the potential outcomes I foresee. The Good Scenario: As shown in the chart, although the price dropped again from the all-time high resistance, the bulls have strongly defended the $67,000 support level that I've been emphasizing. If the price recovers and reaches the resistance level again, it is likely to break above, targeting at least $85,000. The Bad Scenario: In this scenario, the bulls fail to defend the $67,000 support zone. If this happens, the price will likely drop to the $60,000 zone. The Ugly Scenario: In this scenario, all the price action since mid-March could be viewed as a long distribution phase. If Bitcoin also loses the $60,000 support, we could see a significant decline, potentially down to around $45,000.
BITSTAMP:BTCUSD
by Mihai_Iacob
11
XAUUSD we got the breakout! we entered just here ... good evening gold gang hope you're well! a good afternoon on the charts taking buys up to the sell zone and a sell too .. all in a days work. Soon as that daily trend was broken i was in there like swimwear .. beautiful 100 pips id like to see that zone break to buy up to the top zone tommorrow on US bank holiday ... there is always volume on bank hols so i will be trading on the build up to NFP breaks below the trend and ill sell back down to some structure thats it ... easy as peas ... hit the follow button if you like my style ... no BS just easy to follow analysis and execution during the day catch you in london tom
OANDA:XAUUSD
by tommyXAU
1
Gold in tight range againAs expected, last week gold dropped once more below 2300. However, after this new dip, bulls quickly took control, and the price swiftly rose to the familiar 2330 zone. Since Friday, the price has been ranging between 2320 and 2335, and a breakout in either direction could determine the future trend. A break above 2335 could lead to a new test of 2370, while a break below 2320 would expose 2300. At this moment, I am out of the market, waiting for more clarity.
OANDA:XAUUSD
by Mihai_Iacob
XauUsd- Still in consolidation. What could be next?After a strong 400-pip drop on Friday, which suggests that bears are still in control, OANDA:XAUUSD reversed exactly at the minor ascending trend line. However, after reaching the lower boundary of my sell zone, the price started to roll back down and tested the trend line once more during the overnight trading session. A price break below 2320 would confirm the beginning of a new leg down and could lead to acceleration. As explained in yesterday's post, 2285 could be the first target for bears, with a possible extension to the 2200 zone in the medium term. My strategy remains to sell during rallies.
OANDA:XAUUSDShort
by Mihai_Iacob
4
USDJPY Sell | Trade SetupUSDJPY is moving in an ascending channel between the trend lines. The price has reached the resistance level, which has already acted as a reversal point. We expect a decline. Hello Traders, here is the full analysis. I think we can soon see more fall from this range! GOOD LUCK! Great SELL opportunity USDJPY I still did my best and this is the most likely count for me at the moment. ------------------- Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝
Short
by TheGrove
1
Gold- Real break under 2300 this week?As you know, I have been bearish on gold for more than two weeks now. Not only has this opinion remained unchanged, but it has also been reinforced by last week's price action. As seen in the posted chart, after dropping below the 2300 zone, gold started a normal correction. Importantly, last week, we experienced a false break above the 2340 resistance, resulting in a strong bearish engulfing pattern on our daily chart. The week closed exactly on the ascending trend line of the correction that started after the 2385 low, and now the price is in a normal rebound. This rebound could give us an opportunity to open short trades against last week's high. For short-term targets, 2385 could be a good point for booking profits. However, I am convinced that, after a clear break below 2300, gold will drop significantly and reach the 2200 zone.
OANDA:XAUUSDShort
by Mihai_Iacob
3
EURUSD SELL | Idea Trading AnalysisEURUSD is moving in a descending channel between the trend lines and Resistance area. Is near the resistance, where price dropped before. We expect a bearish move from the confluence zone. Hello Traders, here is the full analysis. I think we can soon see more fall from this range! GOOD LUCK! Great SELL opportunity EURUSD I still did my best and this is the most likely count for me at the moment. ------------------- Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝
Short
by TheGrove
1
Gold- Before CPI and FOMCAs you know, I'm strongly bearish on gold in the medium term. However, as I explained in previous posts, I expected a recovery after Friday's 1000-pip drop. The big question now is: from which level will gold start falling again? As I mentioned yesterday, a new leg of correction is probable. At the time of writing, with the price at 2313, it seems we are in the middle of this correction. The 1-hour chart shows buying pressure, and the 2320 local resistance could be broken. If this resistance is breached, there are numerous resistances to the upside, making it difficult to choose an optimal entry point for a short trade. However, the only zone that makes sense for a swing short trade at this moment is between 2335 and 2350. This zone is a confluence of the Fibonacci golden ratio, the 20 and 50 simple moving averages, and previous horizontal levels. That being said, I'm currently out of the market, waiting for clarification and a clear selling signal. Follow the idea, because I will update it during the day!
OANDA:XAUUSD
by Mihai_Iacob
7