Lingrid | GBPJPY short OPPORTUNITY at 187.000FX:GBPJPY has gained bearish momentum and has reached the support level, where it is likely to consolidate. On the 1H timeframe, we can clearly see the bearish trend characterized by lower lows and lower closes. Recently, the price bounced off this level and is currently moving towards the psychological level of 187.000. I anticipate that the market may experience a spike upward before making a sharp move down toward the recent support level. My goal is support level at 184.100
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Hellena | GOLD (4H): Short to support area of 2471.720.In the last forecast I assumed a price decline to the area of 2443, but a difficult correction took place and now we see a flat.
I believe that the decline will still take place, but I will set the target a little closer than before. I will set the target in the support area of 2471.720. This is the boundary of the flat.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Lingrid | AVAXUSDT divergence at RESISTANCE: Short TRADE AlertBINANCE:AVAXUSDT market is currently moving downward, making lower highs and approached a critical support level. Following a pullback towards the resistance zone, the market failed to gain further upward momentum. This price action formed a divergence, and the price has since fallen below the key 24.00 level. Moreover, the price has broken below the upward trendline after the formation of a long-tailed bar, indicating selling pressure. Since the recent bullish movement was against the prevailing major bearish trend, it seems likely that the market will continue falling towards the support level. Because the formation of a triangle pattern suggests a consolidation phase, which often precedes a continuation of the sideways trend. My target is support level around 22.60
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Hellena | DJI (4H): Short to 38.2%-50% Fibo lvl`s 40137.Dear colleagues, after I realized that the price is in the upward impulse of wave “1” I realized that we should look for the beginning of the correction of wave “2”.
At the moment I expect the price to rise a little more to the resistance area of 41379 and then start a corrective movement to the area of 38.2%-50% Fibonacci levels (40137).
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
EUR/USD Faces Reversal After NFP: A Sell-on-Rallies StrategyAfter dropping near the 1.1 support level, EUR/USD began recovering its losses and successfully reclaimed the 1.11 resistance level. However, after testing the 1.1150 resistance (which previously acted as support during the top formation), the release of the Non-Farm Payrolls (NFP) data triggered a strong reversal, pushing the pair back below the 1.11 support level.
As of now, the price stands at 1.1080, and there is a high likelihood of further downside movement. In my view, selling on rallies presents the best strategy for this pair.
The first target is the support at 1.1, but as said, the pair could even drop to 1.0920 zone
Lingrid | GOLD ready to BREAK OUT of the CONSOLIDATION zone ?The price perfectly fulfilled my last idea. OANDA:XAUUSD is currently pushing upward and making higher highs, with the price reaching the top of the established range zone. This resistance zone is a key level to watch; a breakout above it could open the door for higher targets, potentially reaching 2550. With the CPI news set to be released today, there's a chance that the price may bounce off the top of the range and continue to move sideways in the short term. However, the price action at this level might also indicate preparation for an upside break, especially if positive news is announced. A breakout could signal a shift in bullish sentiment, while a rejection could reaffirm the range-bound continuation. My target is resistance at 2540
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Lingrid | GBPNZD double TOP the RESISTANCEFX:GBPNZD has fallen below the 2.1300 resistance zone. Observing the past few daily candles, we can see the formation of rejection bars with long wicks, indicating potential bearish pressure in the market. Recently, the market has also formed a double top pattern, suggesting that bullish attempts were rejected twice, reinforcing the selling sentiment. Given this price action, I expect the market to move lower, potentially breaking through the upward channel that has formed. This channel appears to be a pullback against the overall major bearish trend, and a successful break below it would likely signal further downside momentum. My target is the support level at 2.11800
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Lingrid | ADAUSDT short from the RESISTANCE zoneOverall, BINANCE:ADAUSDT appears bearish on the daily timeframe. However, it seems to be in a consolidation phase as the entire crypto market moves sideways. The price has established a range below the 0.35 resistance level, and I believe it may decline to retest the support areas. Additionally, the formation of a doji candle on the daily chart indicates a pause in the upward movement, despite the prevailing bearish trend. I expect the price to drop and enter a consolidation zone between 0.30 and 0.34, as the market seeks to find its footing. My target is support level at 0.3250
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Lingrid | GOLD in Consolidation. Weekly Price Action AnalysisOANDA:XAUUSD market remains overall bullish; however, recent price action indicates a consolidating trend. The weekly timeframe showed three consecutive three doji candles, highlighting indecision within the market. As a result, it seems logical to anticipate continued consolidation between the 2470 and 2525 levels. On Friday, the market experienced a sharp decline, closing below the psychological level of 2500. Notably, there appears to be accumulation occurring at this level, with the price oscillating back and forth. Looking ahead to next week, I expect the sideways movement to continue within this respected swap zone, especially given the limited economic data catalysts on the horizon.
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Ethereum remains bearish as long as 2500 is intactAs expected, ETH/USD experienced a sharp decline last week, revisiting its recent low.
After this sell-off, the price began to recover and has now risen back to the previously broken support level.
However, the rise has been choppy, overlapping, and corrective in nature, indicating that the downtrend may not be over just yet.
A stop hunt above 2400, especially driven by upcoming inflation data, is a possibility. In my opinion, this could present a good opportunity to enter a short position.
That said, if the price reaches 2500, it would invalidate my outlook.
XAU/USD Outlook: Short-Term Bullish but Downside Risks LoomAs previously explained, I believe XAU/USD is poised for a significant decline, and I indicated my sell zone between 2505 and 2510.
However, after the initial drop from this zone, Gold found strong support at the 2500 level, which led me to close my sell position.
Looking ahead, at this moment, the price seems well-bid and is steadily rising within a channel. Channels often signify the final leg of a move before a reversal, but confirmation is needed.
This confirmation would come from a drop below the established inflection zone around 2505 level.
If this happens, the 2475 zone will likely be exposed again, with a potential move further down to 2440.
Until then, in the short term, the price outlook remains bullish.
Short-term traders may look to buy on dips, anticipating a potential new all-time high following today's inflation data release.
Lingrid | USDJPY pullback TRADING opportunityFX:USDJPY has tested the resistance zone at 140.000 multiple times, resulting in several bounces. After two attempts to break through this resistance, it formed a double top pattern, leading to a new extension low. Instead of updating its recent highs, the market made an impulsive move downward. On the weekly timeframe, an engulfing candle was formed, indicating a potential continuation in the market. Additionally, the price broke and closed below the key level of 144.000, which had been respected numerous times. I anticipate a retest of this level and the upward trendline before a subsequent decline. My goal is to support level at 140.800
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Is the Yen Set for a Comeback? Analyzing EUR/JPY,GBP/JPY,CHF/JPYThe Japanese Yen (JPY) has been one of the weakest currencies in the past three years, with some pairs experiencing a significant 70-80% devaluation, particularly against CHF, EUR, and GBP (CHF/JPY, EUR/JPY, GBP/JPY).
However, since reaching a low in early July, the JPY has shown signs of reversing.
When looking at the JPY Index (see posted chart), we can observe that the price recently broke above the falling resistance line within its downward channel.
After initially stalling at resistance, as marked by a bearish Pin Bar, the subsequent fall lacked continuation and instead reversed upwards.
Currently, the JPY is on the verge of a significant breakout.
If this breakout occurs, the technical target for the next mid-term move is around 860, which would represent a potential 10% appreciation for the Yen.
Key JPY Crosses to Watch:
EUR/JPY:
After breaking out of its rising channel, EUR/JPY confirmed the breakout as valid and has begun a downward trajectory. Yesterday's strong bearish engulfing candlestick suggests that further downside is highly likely. A possible first target could be the 150 zone.
GBP/JPY:
GBP/JPY attempted to recover above its broken support but failed to hold those gains. Like EUR/JPY, GBP/JPY also printed a strong bearish engulfing pattern yesterday.
This suggests a lower high may now be in place, with potential downside targets around 178.50, followed by the 170 zone, which seems a strong possibility.
CHF/JPY:
www.tradingview.com
CHF/JPY has seen one of the largest devaluations of the Yen, amounting to almost 80%. The top in this pair was marked by a head & shoulders pattern, and the price is currently sitting at the neckline. A break below this level seems imminent, with 160 being a likely target. If the correction deepens, we could even see a move toward the 151 level.
Conclusion:
These are long-term predictions, and I anticipate these movements to materialize by the end of the year.
P.S: Stay updated on these charts as conditions evolve. These predictions are based on technical analysis and market patterns for long term, so monitoring changes is crucial.
Best Of Luck!
Mihai Iacob
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.
Lingrid | EURNZD bearish MOMENTUM on the DAILY. Short The price perfectly fulfilled my last idea. FX:EURNZD made a significant nosedive on the daily timeframe but has since pulled back after bouncing off a support level. This pullback resulted in a 50% retracement, with rejection candles appearing on the daily chart. Currently, the price is testing the psychological level of 1.8000, and it's evident that the market is moving sideways just below this level, indicating that bears are beginning to show downward pressure. Given this setup, I anticipate a potential fake breakout or a price squeeze at the resistance, which could then lead to a subsequent bearish move. My target is support level at 1.77800
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Hellena | GOLD (4H): Short to 50% Fibo lvl 2443 (Wave "2").Dear colleagues, I assume that the correction of wave “2” is still to come. This means that the price may update the nearest maximum and reach the area of 2520, which will mean the completion of the impulse in wave “1”.
Then I expect the beginning of the downward movement in the area of 50% Fibonacci level to the area of 2443.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Lingrid | XRPUSDT Possible Opportunity to Short the MARKETBINANCE:XRPUSDT has been in a bearish trend for the past three weeks, creating by lower lows and lower closes. On the daily timeframe, the price action is in a significant consolidation zone between the 0.62 and 0.50 price levels. As the market continues to push down towards the bottom of this range, I believe there is a likelihood of a retest of the support area. If we examine the 0.550 zone closely, we can see that it has been respected multiple times in the past. If the market shows a rejection at this level, it could present a solid opportunity to short, anticipating a retest of the bottom of the consolidation range. My target is support zone around 0.50
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XAU/USD Weekly Analysis: A Challenging Market AheadIt's been a challenging few weeks for XAU/USD traders, especially for those of us who prefer swing trading with larger targets.
As a directional trader, I usually aim for 400-500 pips per trade, but the recent market conditions have tested my strategy. With the total range being only around 600 pips over the past couple of weeks, volatility has been limited from my point of view, making it tough to find those big moves.
NFP Data and Gold’s Reaction:
On Friday, the NFP data came in at 143K, lower than the market's expectations. This weaker-than-expected jobs number suggests that the Federal Reserve could feel more comfortable cutting interest rates in the near future, as economic data softens.
Immediately after the release, gold initially rallied, touching a key resistance level at its previous all-time high. However, the bullish momentum didn't hold. Gold soon dropped after hitting this level, signaling significant resistance.
Key Levels and Market Sentiment:
As I’ve mentioned in previous analyses, the resistance zone that gold initially touched after the NFP release was critical for any continuation of the uptrend. Despite some initial volatility, the price fell below an interim support zone around 2505, and by the end of Friday's session, gold had dipped below the critical 2500 level.
Technical Outlook: Bearish Signs on the Horizon?
Looking at the daily chart, Friday's session closed with a bearish engulfing pattern, a strong bearish indicator. As I mentioned, it also closed below both the 2505 interim support and the 2500 key level.
Zooming out to the weekly chart, we see the formation of a doji pattern, a classic sign of market indecision and potential reversal. This topping formation aligns with the bearish sentiment seen in shorter timeframes.
Strategy for the Upcoming Week:
With these factors in mind, I stayed out of the market on Friday, believing we are at a critical juncture. Moving forward, I plan to look for sell opportunities on rallies.
The 2505 resistance zone, which previously acted as support, could offer ideal selling opportunities if gold retests this level. If the price continues to move lower and approaches the 2475 support zone, my expectation is that this level will eventually give way.
In fact, my target for the next significant move in gold is between 2430 and 2440, where I believe the next major support lies.
Conclusion:
As we move into next week, the key will be to watch how gold reacts at these critical resistance and support zones. If bearish momentum continues, we could see further downside. As always, I’ll provide an updated analysis once the market opens on Monday.
Stay tuned, and enjoy the weekend!
Mihai Iacob
Can $Maker (MKR) make it?Maker is a smart contract lending platform that enables users to take out loans by locking in collateral in exchange for Dai
Maker price today is $775 with a 24 hour trading volume of 69 million dollar! MKR price is up 15% in the last 24 hours
US CPI Inflation data will be coming up today 10th November at 7:00PM IST and it can effect the market too
MKR going to hit 830 and if bulls break that resistance 840,845 and 850 are next targets
Rocket Pool / RPL analysis The price of RPL is $52 today with a 24hour trading volume of 80 million dollars. This represents a 6% price increase in the last 24 hours and a 100% price increase in the past 30 days and well yes 555000% since 4 years ago! Just think about it for a moment...thanks to eth Shanghai upgrade
Rocket Pool is a decentralized Ethereum staking pool offering up to 4% APR for ETH2 staking. Users can join the Rocket Pool with its decentralized node operator network or run their own nodes with only 16 ETH. In the latter case, they can earn a commission from staking ETH and earn additional RPL rewards from providing RPL collateral, amounting to up to 6.36% APR for ETH and the additional RPL rewards. Rocket Pool provides liquid staking, meaning users benefit from an increasing exchange rate instead of rebasing their staked collateral, which would be a taxable event. Furthermore, Rocket Pool offers smart nodes: a custom node software allowing anyone to run a node on its network. With losses from bad nodes socialized across the network, users minimize their risk of facing penalties. This is supported by the pool’s open-source and audited smart contracts, which guarantee fully non-custodial staking and a maximum degree of decentralization.
now lets look at the chart
Rpl pumped almost 70% since binance listing and the price moves in a rising channel and even broke that at 49 which make it even more bullish,next targets are 53,55, 57 and 59 don't forget stop-loss too
Armstrong has heard rumors that the U.S. Securities and Exchange Commission is planning to entirely ban crypto staking for retail investors. what do you think?
XAU/USD Correction Nears End: Preparing for Further Downside?In my weekend analysis and yesterday’s video, I expressed the view that XAU/USD has turned bearish in the mid-term, with the potential for a drop below the 2475 support zone.
After initially pulling back to the NFP low, the price rebounded and returned to my sell zone between 2505-2510 (as previously explained). However, this recovery from 2485 seems more corrective and overlapping in nature, lacking strong momentum. After reaching a local high near 2507, the price began to roll over again.
Confirmation of a lower high and the end of this correction would come with a drop below 2500, which would once again expose the 2475 support zone. Additionally, a retest of this level could potentially lead to a break, bringing my mid-term target of 2440 into focus.
At this point, I maintain my bearish outlook on gold and for the short term 2475 is my target.