GBPUSD Analysis: Bullish Breakout from Falling WedgEThe forex pair GBPUSD is currently trading at 1.25600, with a target price set at 1.28000, indicating a potential gain of over 200 pips. The price action showcases a falling wedge pattern, a bullish reversal formation, which has already broken out to the upside. This breakout confirms a shift in momentum, aligning with the bullish prediction made in prior analysis. Falling wedges typically suggest decreasing bearish pressure, paving the way for buyers to dominate. The breakout signifies a strong upward move, reinforcing confidence in the target price. Traders may see this as an opportunity to capitalize on the bullish trend. However, market conditions, such as economic data or geopolitical events, should still be monitored. Proper risk management remains essential to mitigate potential losses. This setup highlights the importance of technical analysis in identifying profitable trading opportunities.
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Lingrid | GOLD fake BREAKOUT of SUPPORT levelOANDA:XAUUSD market bounced off the entry area I highlighted in my previous post. It initially took liquidity below the previous day's low before moving higher. A long-tailed bar has formed on the daily timeframe, suggesting the potential for a breakout above the high of the previous week. If we see a rejection at a support level, we can anticipate a bullish move. Additionally, the price action is shaping an inverse head and shoulders pattern, which could develop favorably. My goal is resistance zone around 2655.
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Gold Outlook: Higher Lows Signal Continued Upside PotentialYesterday was a pretty volatile day for gold, with the price briefly dropping to 2615.
However, bulls quickly regained control, pushing the price back above the 2635–2640 support zone and establishing a higher low in the broader trend.
Currently, the price is stable above this key support level and is challenging interim resistance at 2650.
A successful break above this resistance could open the door for a move toward 2680, with further upside targets at the significant 2700 level and the technical resistance at 2715.
I remain bullish as long as yesterday's low at 2615 remains unbroken.
Lingrid | EURUSD possible Short from RESISTANCE zoneFX:EURUSD market surged, closing above the 1.03500 level. It then pulled back into a range zone, where it has been moving sideways for the past two weeks. Currently, the price is testing the high from the previous week. I believe the market may either move lower or remain within the range of 1.03500 to 1.04500 before the next significant movement occurs. On the daily timeframe, the price action is bearish, and I anticipate that the market will bounce off the resistance at 1.04500, a level that has been respected multiple times in the past. My goal is support zone around 1.03520
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Can Silver Maintain Momentum Above 28.70?In my previous OANDA:XAGUSD analysis, I mentioned that the price appeared to be forming a head-and-shoulders pattern, with confirmation if the price broke below the 30 level.
Indeed, just before Christmas, the price dropped below this critical milestone and reached a low near the 28.70 zone.
However, instead of continuing toward the technical 28 support level, the price found new support at 28.70, forming a double bottom at this level.
Similar to Gold, Silver began the year on a positive note, reversing upward and retesting the broken neckline level at 29.80 for the second time.
Currently, the price is trading below this level.
A decisive break above 30 could trigger bullish momentum, leading to a potential rally toward the 32 resistance zone.
For now, I'm bullish on Silver as long as the 28.70 support zone holds.
Lingrid | BNBUSDT Market Readies for a Potential SurgeThe price perfectly fulfilled my last idea. It hit the target. BINANCE:BNBUSDT market is currently consolidating above the key level at 700, indicating a potential accumulation phase. Given that the price has been forming higher highs and higher lows, there is a bullish sentiment developing. The recent break and close above the previous weekly highs further supports this bullish outlook. Considering the recent price drop of 20% and the fact that it has spent over 20 days moving sideways, there is a strong possibility that the market could experience a significant surge in the near future. The consolidation period often sets the stage for a breakout, and if the upward momentum continues, we may see a substantial bullish move. My goal is resistance zone around 770.
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Lingrid | PEPEUSDT range BREAKOUT. Potential Buying OPPORTUNITYBINANCE:PEPEUSDT has been in a consolidation phase for over a week. Recently, it broke out and closed above this zone, reaching levels above 0.00002. Now, it's pulling back to retest that consolidation area. The price has been following a downward trendline, and if it rejects that trendline again, we could see a bullish move. On the daily timeframe, the price bounced off the support level, forming a long tail bar, which is a positive sign. I expect the market to retest the middle of the consolidation zone that often acts as support and resistance, followed by continuation upward move. My goal is resistance zone around 0.00002185
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Lingrid | ETHUSDT Potential FAKEY Pattern in the MARKETBINANCE:ETHUSDT is currently forming a triangle pattern following the recent sell-off. Price is moving sideways below the key level of 3,500. This price action is becoming narrow, which is typically a lead to a breakout. While it seems logical to anticipate an upside breakout, I think it may actually turn out to be a bullish trap. I expect the price to fall by 5% to 8%, breaking through the triangle pattern, which could generate bullish momentum. This will be "fakey" pattern in the market. Overall, I believe the market will find support just above the psychological level of 3,000. My mid term goal is resistance zone around 3720.
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Lingrid | EURUSD short the PULLBACK in the Bearish TRENDFX:EURUSD market is currently pulling back toward the resistance zone, which may present an opportunity for trend continuation. The overall trend remains bearish, supported by bearish momentum in the market. The December monthly candle closed very bearish. Given this context, I anticipate that the market will continue to push lower. If the price provides a clear signal at the resistance at 1.03670 and the downward trendline area, I expect to see a trend continuation opportunity in this bearish market. My goal is support zone around 1.02650
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Lingrid | BITCOIN pullback Exhausted, CONTINUATION Phase BeginsBINANCE:BTCUSDT market broke through the downward trendline. Following this breakout, the price has moved higher toward the psychological level of 100,000. On the weekly timeframe, the price closed with a bullish candle after two consecutive bearish candles. Currently, it is testing the area above last week’s high. I believe the market may form a pullback toward a support level, which could be followed by another upward move. I expect the price to retest the all-time high by the end of the month. My goal is resistance zone around 102,800
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
Alikze »» PEOPLE |Corrective structure in ascending channel🔍 Technical analysis: Corrective structure in ascending channel
- It is moving in an ascending channel in the daily time frame.
- At present, the supply area is faced with sales pressure.
- According to the downward momentum, it can have a pullback with a broken structure.
💎Possible scenario: Therefore, any attempt to the supply zone, if it does not break it upwards, can continue the downward path and touch the 0.04880 range first.
💎 Alternative scenario: In addition, if the region breaks the supply, it can grow to the next region.
🛑 Resistance range: 0.10986 - 0.12207
🟩 Support range: 0.03662 - 0.04272
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Alikze »» Jasmy | Ascending channel - 1W🔍 Technical analysis: Ascending channel - 1W
📣 BINANCE:JASMYUSDT currency was examined on the daily time frame. In the previous analysis, it was noted that it is in a concentration that touched the targets specified in the ascending channel upon exiting it.
🟢 Currently, in the weekly time frame, after reaching the final target in the previous analysis, it encountered selling pressure, which is now below the middle area of the ascending channel.
💎 If it encounters selling pressure again in the middle of the channel, the correction to the channel bottom area can continue, which will be a broken pullback to the swing, and then, if there is demand and support in the channel bottom area, it can continue its growth to the ceiling of the first ascending channel.
💎In addition, if the first channel breaks, it can continue its growth to the large supply area of the second ascending channel ceiling, as wide as the channel width.
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Alikze »» LDO | Descending channel - 1W🔍 Technical analysis: Completion of corrective leg of bullish angle pattern
- In the weekly time frame, after the formation of a bullish corner pattern in the supply area, it has faced selling pressure.
- It is currently moving in a downward channel, which has encountered demand by touching the second area of the green box.
💎According to the upward momentum, in the first step, it can touch the target of 1.56, which is also the ceiling of the downward channel.
💎 Therefore, after the failure of the descending channel, in the case of Polk to the green box area, it can touch the next targets of 2.34 and the supply area (the previous major ceiling).
⚠️ In addition, if the green box area and Fibo 0.23 of the previous wave break, the bullish scenario will be invalidated.⚠️
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BINANCE:LDOUSDT
I recommend placing a buy tradeAnalysis
Technical Indicators:
50-Day Simple Moving Average (SMA): The price is currently trading above the 50-day SMA. This could indicate a bullish trend or potential for further price decline.
Support and Resistance Levels: i have marked several support and resistance levels in yellow. These levels often act as areas where price tends to stall or reverse direction.
Recent Trend: The price has been in a uptrend recently, as evidenced by the higher highs and higher lows on the chart.
Current Price: The price is currently near a support level.
Prediction:
I think there's a possibility that the price could bounce off the current support level (2633.80) and move upwards in the short term. However, the uptrend and the position above the 50-day SMA suggest that any upward movement might be continue.
Next Week's Outlook:
Bullish: If the price breaks above the immediate resistance level 2664.11 (the yellow line above the current price and sustains that move, it could signal a potentialof the uptrend. In this scenario, I think the price could move higher towards the next resistance level.
In situations like this, I recommend placing a buy trade. While the trade is running, i usually use a high frequency trading strategy like the Lock30x scalping method to increase profits. The market is usually very volatile around the 50-day moving average before moving up. By taking advantage of this volatility, i can make much higher profits with lock30x scalping compared to just holding a long-term buy trade. keep the stop lose 2621.67
Lingrid | AVAXUSDT potential RANGE BreakoutBINANCE:AVAXUSDT market has formed a double bottom on the daily timeframe and has been moving sideways below the psychological level of 40.00. Recently, the price rebounded from the channel border, suggesting a potential upward movement since the market has undergone a 38% correction from its previous high. I anticipate a breakout from the current consolidation zone, with the price possibly moving toward the channel border. My goal is the resistance zone around 45.50
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Lingrid | GOLD short-term RETRACEMENT from the RESISTANCE zoneThe price perfectly fulfilled my last idea. It hit the target. OANDA:XAUUSD has moved higher, breaking above the triangle pattern. The price is currently testing the weekly high at 2665, which I mentioned yesterday. It has bounced off this level and may be forming a double top in this area. I believe the market could form a small ascending channel with bearish divergence. Previously, the price has consistently respected the resistance zone at 2670, which aligns nicely with the 61.8% fibonacci golden level. I expect the price to move lower after taking liquidity above the weekly high if we see strong rejection. My goal is support zone around 2640
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Lingrid | EURUSD in Bearish TREND. New LOWER LowsThe price perfectly fulfilled my last idea. It hit the target. FX:EURUSD currency recently made an impulsive move, breaking through the significant level at 1.03000. On the 1H timeframe, the market formed a long-tailed bar, indicating buying pressure or a potential pullback. I anticipate that the market to roll back towards the resistance zone marked by November's low. I expect the market to bounce off this resistance zone and the downward trendline, which would present an opportunity for trend continuation. There is also a possibility that the price may form an ABCD pullback pattern. My goal is support zone around 1.02500
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Lingrid | TONUSDT Continues to GO SidewaysOKX:TONUSDT market is currently moving sideways, oscillating between the 5.00 and 6.00 levels. Recently, the price tested the 6.00 resistance zone as well as a downward trendline before bouncing back. At the same time, the market has consistently bounced off the support zone just above the psychological level at 5.00. Looking left on the chart, we can observe that the price has respected this support area multiple times, which adds to its significance. I expect a narrow price action above the support level that could lead to a breakout, with the price potentially breaking and closing above the downward trendline. My mid-term goal is resistance zone around 6.200
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Hellena | EUR/USD (4H): Short to Support area 1.02539.Dear Colleagues, due to the recent sharp price movement, I have redrawn the waves and now I see the completion of the five-wave impulse in the wave “5” of higher order.
I expect that the price should update the nearest local minimum of the wave “3” 1.03350.
I expect the price to reach at least the area of 1.02539.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!