EURUSD: Corrects After False Breakout Before Continuing DownwardFX:EURUSD rising higher based on the correlated reaction with the dollar. The currency pair is likely to test the local highs. But! Since there is scheduled news today, you must be extremely cautious...
The fundamental background remains overall very negative since Trump’s victory.
Additionally, the local downtrend is not yet over, thus providing us with the main trend to follow in our trading decisions.
From a technical perspective, as a false support breakout is forming on the chart, we should wait for a retest of the resistance areas to consider further selling attempts aimed at pushing the price lower.
Short-term levels to watch:
Resistance levels: 1.051, 1.065, 1.076
Support levels: 1.051, 1.044, 1.033
If the bears behave aggressively on the back of the news, the price will likely continue to decline from these areas.
Signals
#IOTX 1D: 100% Circulating Supply – Stable Growth. 11/28/24Launched in 2017 as an open-source project, IoTeX has evolved into a decentralized platform empowering the open economy for machines. It is an ecosystem where people and machines interact with trust, autonomy, and carefully designed economic incentives.
Nearly 100% of all tokens are already in circulation, a crucial factor as it eliminates future unlocks that could lead to large-scale sell-offs. This reduces market volatility caused by major sales.
The current price level appears to be a "bottom," making further declines unlikely.
With a market cap exceeding $400 million, IoTeX has growth potential. If its market cap increases significantly, the token price could follow, indicating the project has yet to reach its full potential.
IOTXUSDT shows promising potential for further growth, supported by the limited availability of tokens for large investors.
#DOGS 1D. Symmetrical Triangle – Key Levels Inside! 11/28/24Over the past week, I noticed that trading volumes for this token on Binance have risen to levels comparable to many popular tokens, both on futures and spot markets.
Currently, the price has formed a symmetrical triangle pattern on increasing volume, bouncing off the support level. This could indicate potential for further growth.
I plan to take profit on both spot and futures positions in the $0.010 - $0.012 range, as I don’t see value in holding beyond that. Setup is shown on the chart.
DYOR.
NAS100USD: Bearish Opportunities from Fair Value PriceGreetings, Traders!
In today’s analysis, NAS100USD is exhibiting strong bearish momentum, confirmed by heavy volatility to the downside. Currently, price is retracing into the 50% Fibonacci retracement level, also known as the equilibrium or fair value.
Why Fair Value?
The equilibrium is a key zone where institutions favor initiating sell orders. This area is considered optimal as price transitions from discount to fair value, providing smart money an ideal level for market distribution.
Aligned with this fair value zone is a Fair Value Gap (FVG), where I will focus on confirmation entries for selling opportunities targeting downside liquidity.
Targets
First Target: 50% of the entire leg.
Second Target: Liquidity pool at the swing low.
If you have insights, analysis, or questions, feel free to share them in the comments. Let’s learn and grow together!
Happy Trading,
The_Architect
Mew/UsdtBYBIT:MEWUSDT
### **Current Price & Market Cap**
- **Current Price**: $0.009406
- **Market Cap**: $836.30 million
At its current market cap of **$836.30M**, **MEW** is very close to touching a $1 billion market cap, which is a significant psychological milestone in the crypto world. 🚀 Achieving this could potentially trigger more attention from investors and push the price higher. This suggests that the structure of **MEW** is looking quite strong, and if the price holds at current levels, it could be a good sign for future growth. 📈
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### **Resistance Level: $0.012916**
- **Resistance** is the price level at which selling pressure is likely to increase, making it harder for the price to break through.
- If **MEW** can hold or break above **$0.012916**, it suggests bullish momentum. This level represents a point where price action has previously struggled to move beyond, so a successful breakout could mean further upside potential.
- If **MEW** manages to break this resistance level, the next targets could be higher, perhaps even driving the price towards new highs, especially if the market cap approaches $1B. 💥
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### **Support Levels: $0.007979 / $0.00600**
- **Support** refers to a price level where demand is expected to be strong enough to prevent the price from falling further. If the price drops to one of these levels, buying pressure could step in, creating a potential bounce.
- **Support Levels**:
- **$0.007979** is a key level of support. If the price dips below current levels but finds buyers here, it could stabilize and start moving up again.
- **$0.00600** is another crucial support range. If the price doesn't hold at **$0.007979**, this next level provides additional support before potentially falling further.
These support levels represent areas where the price could "bounce" if there’s enough demand to prevent further declines. If **MEW** holds around or above these levels, it could indicate a stronger foundation for future gains.
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### **Conclusion:**
- **Bullish Scenario**: If the price holds above **$0.009406** and breaks through the **$0.012916 resistance**, we could see **MEW** targeting new highs, possibly pushing closer to a ** SEED_TVCODER77_ETHBTCDATA:1B market cap**. This could trigger increased investor interest and lead to more upside momentum.
- **Bearish Scenario**: If the price fails to hold at **$0.009406**, look out for possible support around **$0.007979** or **$0.00600**. A breakdown below these levels could lead to further downward pressure and may require a new support level to be formed.
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As always, it's essential to keep an eye on price action and volume at these levels. Volatility is common in crypto, so it’s important to stay informed and make decisions based on your own risk tolerance.
**Disclaimer**: This is not financial advice. Always do your own research (DYOR) before making investment decisions. 📚🔍
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.
JP MORGAN Expect a 1D MA50 correction before it turns into a buyJP Morgan Chase (JPM) posted a strong bullish leg on our last analysis (September 17, see chart below) that easily hit our $229 Target:
From a wider perspective on the 1D time-frame, the price is now right at the top of the 13-month Channel Up on an overbought 1D RSI and a 1D MACD that is about to form a Bearish Cross.
All previous Higher Highs of the pattern formed MACD Bearish Crosses and pulled back to the 1D MA50 (blue trend-line) on a minimum of -7.35% correction. Note that the 1D MA200 (orange trend-line) never broke, so as long as it holds, the long-term bullish trend is intact.
As a result, we now expect a pull-back to the 1D MA50 and a minimum of -7.35% decline puts the Target a $236.00.
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SOLANA Is this correction a buy opportunity??Solana (SOLUSD) is on a 5-day pull-back, along with the majority of the crypto market. It is still above both the 1D MA50 (blue trend-line) as well as the 1D MA200 (orange trend-line) coming strong off a 1D Golden Cross. Is this correction, however, a buy opportunity?
Well the last time SOL formed a Golden Cross on the 1D time-frame was exactly 1 year ago (October 22 2023), after coming out of a similar (blue) Channel Down and that initiated the massive October 2023 - March 2024 rally. That rally hit all Fibonacci extensions of the Channel Down successively (2.0, 3.0, 4.0) and consolidated on all of them. Even the 1D RSI sequences between those fractals are similar.
As a result, we expect Solana to hit $315 (Target 1), $515 (Target 2) and $830 (Target 3) within a 4 month horizon.
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AUDJPY Channel Up approaching its bottom.The AUDJPY pair has been trading within a Channel Up pattern since the August 05 Low and yesterday broke below the 1D MA50 (blue trend-line). The previous Low of the pattern was priced on the 0.618 Fibonacci retracement level as well as when the 1D RSI started rising after almost hitting the oversold (30.00) barrier.
As a result we are looking for a buy below 97.500, targeting 104.000 (just under the -0.236 Fibonacci extension, which was the last Higher High).
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NATURAL GAS Final push before peakingNatural Gas (NG1!) rose and hit our 2.900 Target called on our last analysis (August 29, see chart below) and after a pull-back, broke above the Triangle:
The Triangle transitioned to a Channel Up and the price is already near the end of its Bullish Leg. The 1W MA200 (red trend-line) is the long-term Resistance (untouched since January 17 2023) so only above it can we justify a new bullish trend.
Until then, our Target is 3.745, which represents a +99.50% rise from the last Higher Low, which is the same % rise as the first Bullish Leg of the Channel Up.
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DOW JONES is respecting our major August buy call beautifully.Dow Jones (DJI) is about to hit the 45000 Target on our last buy call (November 20, see chart below) and complete a +8.30% Bullish Leg rise within the Channel Up that started on the August 05 Low:
We are very pleased also to see the index making enormous progress after our big August buy (Aug 07 idea, see below) which was exactly on the last major Low of Dow:
As you can see, we successfully formulated that trade based on the extremely symmetric price action of 2016 - 2017. We've explained the notion on the previous idea, but we will refresh your memory if you read this analysis for the first time.
Dow was already trading within a Rising Wedge pattern in 2016, which towards its end broke upwards and first completed a +19.50% rally. The second Leg of the Bull rally was completed on a +30.70% rise from the pull-back Low and then the markets entered the multi-month volatile period of the U.S. - China trade wars. Key Lows of the Bull Rally were made in October 2016, April 2017 and the last in August 2017. It is important to note that after the August 2017 Low, the index had the most aggressive part of the rally, attached to the top band of the Bollinger Bands range, which is what we've called before "riding the BB wave".
Back to more recently and the Rising Wedge that started in 2022, it broke upwards in identical fashion as 2017 (first Leg +23.40%, Lows in October 2023, April 2024 and the most recent August 2024, which as you saw was our last major buy). Even the 1W RSI sequences between the two fractals are similar. What's left now is for Dow to complete a +30.70% rise from the August 2024 Low, in order to conclude the pattern from 2017.
Our long-term Target since August remains thus intact at 49000. Keep in mind that this is the essence of long-term investing/ trading and this is the strategy with the highest winning rate. Note also that if it takes the same time to conclude as the 2017 Leg did from the August 2017 Low (green Rectangle, 168 days), then the peak should be formed end of January/ early February 2025.
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Lingrid | GOLD possible CONSOLIDATION phase. Potential ShotOANDA:XAUUSD market made a sharp bearish move, indicating a possible shift in momentum. Following the lower high, it appears that the market has entered a consolidation phase, particularly after breaking below the 2650 level with a strong bearish candle. A large triangle pattern around the psychological level of 2600 is certainly a possibility. Triangle patterns generally signify indecision in the market and can lead to dramatic moves once a breakout occurs. The daily timeframe showing a substantial bearish candle erasing the last three days’ gains further reinforces the bearish outlook. This strong price action may attract additional selling pressure, especially if the market remains below key resistance levels. With high-impact news volatility is expected. We should remain cautious and look for clear signals to confirm the next move. My goal is support zone around 2581.000
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
GBPAUDHere is our view on GBPAUD . Potential short opportunity.
GBPAUD has been in a downtrend for the past month. After GBPAUD broke below the KDZ (Key Demand Zone ) we have made a retest of it. With this in mind, we can speculate that GBPAUD will continue with the trend after making its retest to the KDZ (Key Demand Zone). Our entry is sitting roughly at around 1.94250 . Our SL (Stop Loss) is sitting at 1.95322 as the pair still might try to create a “double top” at the 1.95105 KL (Key Level) . Our TP (Take Profit) is sitting at the bottom of the range roughly at around 1.91261 .
Keep in mind this trade will take some time to be completed.
PARAMETERS
- Entry: 1.94250
- SL: 1.95322
- TP: 1.91261
KEY NOTES
- GBPAUD is in a downtrend for the past month.
- Broke below the KDZ (Key Demand Zone) and is now retesting it.
- Breaks above our SL (Stop Loss) would result in higher prices and possible reverses.
Happy trading!
FxPocket
Lingrid | GBPAUD short from Psychological Level The price perfectly fulfilled my previous idea. It hit the target zone. FX:GBPAUD is currently pulling back towards the resistance zone and the channel border. Before the market moved downward, it created a swap zone where the price changed direction. Overall, the market has been making lower lows, indicating a bearish trend. Recently, the price action made a false breakout above the previous day's high. I believe the market may create another false breakout at the channel border, following a retest of the psychological level at 1.95000. My goal is support zone around 1.92400
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
Lingrid | SUIUSDT contraction EXPANSION pattern. LongBYBIT:SUIUSDT pulled back to the support level at 3.00, then bounced back by taking liquidity below last week's low. Additionally, the market formed a descending triangle pattern characterized by lower highs, indicating a price squeeze. Recently, the market broke the downward trendline, and I believe the price may rise further if it closes above this trendline. I expect the price to continue moving higher, as we are seeing a contraction-expansion price action pattern. My goal is resistance zone around 3.8300
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻