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Bitcoin- back to channels resistance?Since March, Bitcoin has been trading within a clear downward channel, making lower highs and lower lows. While this suggests a downtrend, it should be viewed as a correction within the broader uptrend that began in early 2023. From a long-term perspective, Bitcoin needs to clear the 68k level to aim for new all-time highs. In the short term, the sharp reversal from just below 50k has been significant, and it’s possible that a higher low has formed around 56k. However, for the next upward move to gain traction, bulls must break through the local resistance at 61.5k. If this resistance is cleared, the price could once again test the falling trend line, which currently lies around 68k.
BITSTAMP:BTCUSD
by Mihai_Iacob
1
Lingrid | MATICUSDT tested June 2022 HISTORICAL Support LEVELBINANCE:MATICUSDT has reached the demand zone that was last tested in June 2022. The market formed a long-tailed bar on the weekly timeframe, indicating level rejection and a potential bullish move. Additionally, it broke and closed above the accumulation zone, which is another positive sign. I believe the market may rise to retest the resistance if the price remains above the 0.400 level. I expect it to break through the channel and continue its bullish trajectory. Keep an eye on the closure for August, as the price action on the monthly chart is creating another significant long-tailed bar. My goal is the resistance at 0.500 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
MLong
by Lingrid
2
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.
FXOPEN:XAUUSDLong
by syomking76418
1
Gold Hits New ATH Amidst Volatility: Preparing for a Correction?If you’ve been following my analyses over the past 10 days, you’ll know that I’ve maintained a bullish outlook on gold, anticipating a rise above 2500. Although last week was marked by strong volatility, and two of my long trades didn’t hit their targets—one closing at break-even and the other with a modest 40-pip profit—the overall outcome has been quite satisfactory, with gains totaling around 600 pips. Looking ahead, while the overall trend remains strongly bullish, I now expect some correction. As shown on the posted chart, the price reached the resistance of the channel in which gold has been trading recently. After hitting a new ATH yesterday at 2530, the price encountered significant volatility, likely due to profit-taking, which often signals a temporary top. As I highlighted in an update during yesterday’s trading session, the key level for bulls to watch is around the 2505 zone. A break below this level could lead to a decline towards the crucial support at 2480. With this in mind, I’m looking to sell rallies against yesterday’s high, targeting the 2480 level.
OANDA:XAUUSDShort
by Mihai_Iacob
10
XAUUSD Retracement and Trend ContinuationXAUUSD is currently undergoing a pullback following a strong bullish move. The support area between 2485 and 2500 offers an opportunity to consider a long trade, especially if the price shows bullish signs, such as a false breakout. From this support zone, the price could retest the resistance area, as the price action seems to be forming a complex pullback. However, it's crucial to remain cautious, as there is still a chance the price could dip lower, particularly since the daily timeframe shows a bullish candle with a long wick. The target is the resistance zone at 2529
FOREXCOM:XAUUSDLong
by RTED_Investing
Lingrid | GOLD retracement and TREND Continuation POTENTIALOANDA:XAUUSD is currently experiencing a pullback after a strong bullish move. The support area between 2485 and 2500 presents a opportunity to take a long trade, particularly if the price shows bullish signals, such as a fake breakout. I expect a retest of the resistance zone from this support zonel, as the price action appears to be forming a complex pullback. However, it's important to note that there is still a possibility of the price dipping lower, especially since, on the daily timeframe, we have a bullish candle wth a long wick. My target is resistance zone at 2529 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
OANDA:XAUUSDLong
by Lingrid
6
Lingrid | EURUSD short-term pullback from the RESISTANCE zoneThe price has successfully reached the target zone outlined in my previous forecast. FX:EURUSD is currently approaching a weekly resistance level that was last tested in December 2023. Given that this resistance level previously experienced a bearish reversal, we can anticipate a potential short-term pullback or choppy price action in this area. I expect a likely fake breakout above both the channel border and the resistance level, which might result in a short term correction in the market. My goal is the support level around 1.10500 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 Lingrid
20
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.
FXOPEN:XAUUSDShort
by syomking76418
Gold- Correction or continuation?Yesterday, gold corrected Friday's strong upward move and dropped precisely into my buy zone. A recovery followed, with the uptrend resuming; however, the price was unable to surpass the recent all-time high (ATH) and began to decline again. While there is a possibility that a double-top pattern could be forming, this has not been confirmed, and the overall trend remains strongly bullish. In my opinion, bulls have little to worry about as long as the price stays above the 2480-2485 zone. Buying on dips should continue to be the strategy.
OANDA:XAUUSDLong
by Mihai_Iacob
6
Lingrid | GBPCHF breakout followed by PULLBACK and ContinuationFX:GBPCHF is currently making lower lows, indicating a bearish trend. Recently, it reached the 50% retracement level on the daily timeframe and is now near significant resistance at 1.12500, along with the upper border of the channel. The price action has been in a consolidation zone since April but it has broken through it. Currently, the market is pulling back to retest the lower border of that consolidation zone. I believe we are witnessing a classic breakout-pullback-continuation scenario. The last two daily candles are doji candles, suggesting indecision in the market. If the price breaks below the lows of those doji candles, we could see an impulsive leg down, confirming the bearish sentiment. My target is support level at 1.09875 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 Lingrid
14
Lingrid | EURUSD Identifying PULLBACK Continuation ScenarioThe price perfectly fulfilled my last idea. After breaking out of the consolidation zone, the market is now approaching the next significant resistance level. FX:EURUSD has closed above the critical level of 1.1000 on the daily timeframe, and the market is currently pulling back to this level. With high-impact news on the horizon, we can anticipate an increase in market volatility today. Given the prevailing bullish trend, I expect the market to experience a rejection in the form of a long-tailed bar below this psychological level before continuing the upward movement. My goal is the resistance level at 1.10715 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Long
by Lingrid
18
Gold could continue its riseLast week was marked by significant volatility in gold prices, with fluctuations amounting to hundreds of pips. However, on Friday, the bulls took full control, driving the price above the important milestone of 2500. Currently, the price is undergoing a minor correction and consolidation phase. I expect it to resume its upward trend once this period concludes. The 2480 zone offers strong support, and any dips into this area should be considered buying opportunities. The first target could be set at Friday's high of 2510, with a second target at the 2520 zone, which aligns with the measured target for the recent small triangle pattern.
OANDA:XAUUSDLong
by Mihai_Iacob
14
Lingrid | EURUSD Continuation of the CURRENT TRENDThe price perfectly fulfilled my last idea. FX:EURUSD is approaching the resistance zone and is currently consolidating after breaking out of the 1.1000 level. The price has not yet broke through the previous resistance, which suggests that it may be forming a triangle pattern. I believe the market will seek liquidity below this psychological level before bouncing off the upward trendline. If the price rejects a support level, it is likely that the market will rebound from it and the upward trendline, especially considering the presence of a long-tailed bar on the weekly chart, which indicates a potential for further bullish movement. My goal is the resistance zone around 1.11000 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Long
by Lingrid
1
Lingrid | USDJPY pullback TRADE. ShortThe price perfectly fulfilled my last idea. It hit the target level. FX:USDJPY has been pulling back all week after the massive sell-off. It has retraced 38.2% on the daily timeframe. The price action initially broke above the previous week's high but then pulled back below it, effectively taking liquidity above that level. Additionally, the price has reached both the channel and the downward trendline. Typically, the market tends to consolidate after an impulsive move, so we can expect a sideways movement below the psychological level of 150.000. My target is support level at 144.660 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 Lingrid
5