Alikze »» GRT | Ascending channel - 8H🔍 Technical analysis: Ascending channel - 8H
- In the analysis presented in the weekly time frame , it was mentioned that an AB=CD pattern has been formed.
- It is moving in an ascending channel in the 8-hour time frame.
💎 In the OB area, it can face the demand again by creating demand and liquidity hunt at the bottom of the channel and continue its growth up to the top of the channel.
- Then I expect it to continue its growth to the supply area to form the third wave or wave C.
⚠️In addition, if the correction extends to the Invalidation LVL range, the bullish scenario in the 8-hour time frame is invalidated and must be reviewed and updated again.⚠️
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BINANCE:GRTUSDT
Signals
Trading minute impulseOn the minute timeframe of XAUUSD at the moment we have the completion of the impulse formation. If the price continues to move in the direction of the impulse and the support zones do not allow it to overcome the base of the impulse, it may reach the targets 1 and 2. If the price fails to advance in the direction of the momentum and overcomes the support zone at the base of the momentum, it is very likely that the price will move sideways or against the direction of the momentum.
EURCHF Trading Opportunity! BUY!
My dear followers,
I analysed this chart on EURCHF and concluded the following:
The market is trading on 0.9285 pivot level.
Bias - Bullish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation.
Target - 0.9303
About Used Indicators:
A super-trend indicator is plotted on either above or below the closing price to signal a buy or sell. The indicator changes color, based on whether or not you should be buying. If the super-trend indicator moves below the closing price, the indicator turns green, and it signals an entry point or points to buy.
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WISH YOU ALL LUCK
NAS100USD Will Go Down! Sell!
Please, check our technical outlook for NAS100USD.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 21,415.8.
Taking into consideration the structure & trend analysis, I believe that the market will reach 21,013.5 level soon.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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GOLD Will Move Lower! Short!
Here is our detailed technical review for GOLD.
Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 2,637.581.
Considering the today's price action, probabilities will be high to see a movement to 2,613.313.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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EURCAD Is Bearish! Sell!
Take a look at our analysis for EURCAD.
Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 1.485.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 1.478 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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GBPAUD Is Very Bearish! Short!
Please, check our technical outlook for GBPAUD.
Time Frame: 8h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 1.988.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 1.970 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.
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xauusd and NFPBased on fundamental data and the correction of the global gold ounce, as well as the high selling pressure and strength, I expect that today, with the release of the non-farm payroll employment data from the U.S., it will reach the specified range.
What do you think about this analysis and other analyses?
What symbol would you like me to analyze for you?
JASMY Emerging 1D Golden Cross can send it to 0.0900JasmyCoin (JASMYUSD) has been trading within a Fibonacci Channel Up on the 1D time-frame and it currently more than halfway through its new Bullish Leg. Ahead of its first 1D Golden Cross in 1 year (since November 23 2023), the price is pulling back today below the 0.618 Fibonacci retracement level.
This is exactly the same kind of pull-back the previous Bullish Leg had on February 22 2024. As a result, we can use this opportunity to buy at a lower price and target 0.0900. Technically longs are valid until the 1D MACD forms a Bearish Cross (was an accurate sell signal on June 09 2024 and March 05 2024).
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GBPJPY, possible outcomes?A quick outlook on GBPJPY . Potential opportunities.
GBPJPY is currently trading at around 191.000 . We are looking at two possible outcomes on this pair. We are still in a downtrend on HTF (Higher Time Frames ). However if we start breaking above 191.500 we could see a reverse happening on the pair.
Scenario 1: SELLS at the break of 190.400 .
We broke 190.400. That would confirm sells and we could continue the downtrend and target previous lows sitting at around 188.000 flat.
Scenario 2: BUYS at the break of 191.500 .
We broke above 191.500 confirming the bullish flag we had on H1 and we could start reversing on GBPJPY . We would be targeting higher levels sitting at 192.500 and higher at 193.300 .
Personal opition:
The direction for now is unclear until we break our mentioned key levels. A safe sell trade could be taken at the break of 190.400. On the other hand a safe buy trade could be taken at the break of 191.500. We are more on the buy side at the time of writing this. Be patient and stay tuned for updates on this pair.
KEY NOTES
- GBPJPY is in a downtrend on HTF however it’s showing signs of a possible reverse.
- Breaks above 191.500 would confirm buys.
- Breaks below 190.400 would confirm the trend continuation and further sells.
Happy trading!
FxPocket
AUDCAD Buy signal at the bottom of the Channel Up.The AUDCAD pair has been trading within a Channel Up pattern since the September 27 2023 Low and at the moment it is in the process of forming a new Higher Low. All previous Higher Lows were formed one the 1D RSI almost touched the 30.00 oversold barrier. Right now it is a little more than 5.0 points away from it, so buying starts getting highly favorable on the current levels.
In any case, a break above the 1D MA50 (blue trend-line) would confirm the start of the new Bullish Leg and if it follows the previous sequence, it should peak above the -0.5 Fibonacci extension. As a result, our 0.95000 Target is more than valid for the medium-term.
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PALLADIUM has started a massive 3-year rally. Don't miss it.We first published this Palladium (XPDUSD) chart exactly 4 months ago (August 06, see chart below) and it is the appropriate time to update it now:
As you can see, we gave the buy signal exactly on the market bottom which was in fact a Triple Bottom. The rebound broke above the 1W MA50 (blue trend-line), a Resistance that was unbroken since the week of October 10 2022, and technically confirmed the uptrend and the trend reversal from bearish to bullish. The pattern that is carrying this uptrend is a Channel Up and in November in fact, it respected both the Higher Highs and Higher Lows trend-lines.
As mentioned on that August analysis, Palladium formed the very same Channel Up after both previous major market bottoms (Bear Cycles) since the December 2008 bottom of the U.S. Housing Crisis. All Channel Up patterns (the current is the 3rd one), started after the 1W RSI formed Higher Lows against the price's Lower Lows, which is a Bullish Divergence. They broke out once the 1W RSI made the first pull-back on the Arc shapes you see on the chart, indicating a normalization on the initial buying pressure at the bottom.
Obviously, this is a recurring technical cyclical pattern, formed on a 6-year Cycle. With the use of the Sine Waves we can accurately display the previous bottoms (January 11 2026 and December 01 2008) and to a fair extent the tops (we can argue that those are formed on the 3rd Lower High (red circles) on the 1W RSI Lower Highs trend-line).
Needless to say, we still expect Palladium to reach at least the 'Russia-Ukraine war peak' at 3450 by mid 2026 - mid 2027. If you want to go beyond that, technically, it can extend as high as $4780, which would represent a +451.52% rise from the recent 2024 bottom. The previous two Bull Cycles rose by +533.56% and 451.52% respectively, which also represents they high degree of symmetry within Cycles.
In any event, the current levels remain a unique buy opportunity on a 3 year horizon if you are a long-term investor.
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Lingrid | EURAUD short after FAKE Breakout of CONFLUENCE ZoneFX:EURAUD is currently testing a key resistance zone at 1.65000, which coincides with an upward trendline and the border of a downward channel, creating a confluence zone. Following an impulsive bearish move from this zone previously, the price has retraced back to this resistance area. Given that this level acts as a round number and aligns with the upward trendline, I anticipate a potential reversal from this resistance area. If the price creates a fake breakout—indicated by rejection at this level—we can expect the market to move lower, potentially leading to a more bearish move. My goal is the support zone around 1.63000
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
Will NFP give Gold a boost?In my comment yesterday, I mentioned that the price was trading within a tight range, making it better to stay on the sidelines until there is more clarity.
Although the price briefly broke below both the 2635 and 2620 support levels, it quickly reversed and moved back above them. This suggests that bulls remain strong above the 2600 level, indicating that a higher low might be forming.
With this in mind, I anticipate the price to continue moving upward today and in the coming days, with a clear breakout above 2650. If that happens, Gold could gain momentum and potentially reach the next significant resistance level around 2680.
For now, I’m looking to buy on dips, but I will reconsider this approach if Gold closes the week below yesterday’s low.
Lingrid | TONUSDT Hits KEY Psychological Level: $7.00 AchievedThe price perfectly fulfilled my last idea. It hit the target level. OKX:TONUSDT is making higher highs in a bullish trend. The market recently produced a fake breakout of the psychological level at 7.00 which means possible deeper correction. On the daily timeframe, the price broke above a downward trendline that had restrained it for over four months. The formation of an equal low suggests that the price may retest below this equal low before moving higher. I anticipate a correction to occur, followed by a continuation of the bullish trend. My goal is resistance zone around 7.390
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻