AUDCAD Discretionary Analysis: Taking the Elevator DownIt’s more of a sixth sense(like when you just know the milk is bad before you smell it). I think it’s headed down, like an elevator with a broken cable . If I’m right, I’ll make some money. If I’m wrong, well… guess I’ll take the stairs next time.
Just my opinion, not financial advice.
Supply_and_demand
CADCHF - Buy Setup at Key Support LevelOANDA:CADCHF is approaching a key support zone, marked by strong buying pressure. This area has historically served as a demand zone, suggesting the potential for a bullish reversal if buyers step in.
The current market structure indicates that if the price confirms a rejection from this support zone, there is a high probability of an upward move. I anticipate that if buyers defend this level, the market may head higher toward the 0.61900 target, which represents a logical target within the current market structure. However, a break below this support would invalidate the bullish bias and could lead to further declines.
If you have any thoughts on this setup or see an alternative perspective, feel free to comment!
GOLD Technical Analysis - Correction Incoming?OANDA:XAUUSD is trading within a well-defined ascending channel, with price action now testing the upper boundary. This level could act as dynamic resistance, and a rejection here could trigger a corrective move toward the 3,035 support zone.
If buyers defend this support, the bullish structure remains intact, with a potential move back toward higher levels. However, if price breaks below this zone, a deeper pullback toward the lower boundary of the channel could come into play.
Monitoring candlestick patterns and volume at this critical zone is essential for identifying buying opportunities. Proper risk management is advised, always confirm your setups and trade with solid risk management.
If you have any thoughts on this setup or additional insights, drop them in the comments!
XAUUSD Breaking Records: Bull & Bear Setups for the New Month 🔥 Attention all traders!🔥
XAUUSD is on fire, breaking records with power! Here’s the latest update:
🔻 Bearish Outlook: Watch for a potential dip below the 3076-3078 range. If it falls, targets like 3050 and 3030 could be in play. Keep an eye on these support zones! 👀
🔺 Bullish Outlook: A breakout above this range could open up buying opportunities! Look for price action above 3084 with targets at 3097 and 3110. 🚀
New Month Open Candle: As we step into a new month, keep a close watch on the market open candle 📅. This could set the tone for the next move!
💡 Risk Management** is key! Always trade smart and protect your capital! 💰
Join the discussion and share your thoughts! Let's ride this golden wave together! 🌟
BITCOIN | 4H | KEY POINTS Hey traders, what's up
I've marked the key levels for Bitcoin on the chart. Right now, it's holding within the 4-hour supply and demand zone. But if this level breaks, I expect Bitcoin to drop all the way down to around $78K.
For spot buyers, there’s no real risk at the moment. But if you're trading on margin and currently in the red, be extra cautious.
The market will liquidate you first, then move on its way.
Big thanks to everyone supporting my analysis with likes
I will provide continuous updates under this analysis.
NZDJPY Approaching Key Resistance — Potential Sell SetupOANDA:NZDJPY is approaching a key resistance zone, a level where sellers have consistently stepped in, leading to notable bearish reversals in the past. This area is marked by strong selling pressure, increasing the likelihood of a bearish move if sellers regain control.
The current price action suggests that if the pair confirms resistance through signals like bearish engulfing candles, long upper wicks, or increased selling volume, we could see a downward move toward 86.100, which represents a logical target based on previous price behavior and market structure.
However, if the price breaks above this zone and sustains, the bearish outlook may be invalidated, opening the door for further upside.
Just my take on support and resistance zones—not financial advice. Always confirm your setups and trade with solid risk management.
Best of luck!
WHEAT at Key Support Level - Will Price Rebound to 541$?PEPPERSTONE:WHEAT has reached a major support level, an area where buyers have previously shown strong interest. This area has previously acted as a key demand zone, increasing the likelihood of a bounce if buyers step in.
A bullish confirmation, such as a strong rejection pattern, bullish engulfing candles, or long lower wicks, would strengthen the case for a move higher. If buyers step in, the price could rally toward the 541$ target. However, a decisive breakdown below this support would invalidate the bullish scenario and could lead to further downside.
This is not financial advice but rather how I approach support/resistance zones. Remember, always wait for confirmation, like a rejection candle or volume spike before jumping in.
Best of luck , TrendDiva
EURJPY Approaching Key Resistance — Potential Sell SetupOANDA:EURJPY is approaching a key resistance level, an area that has been a key point of interest where sellers have regained control, leading to notable reversals in the past. Given this, there is potential for a bearish reaction if price action confirms rejection, such as a bearish engulfing candle, long upper wicks or increased selling volume.
If the resistance level holds, I anticipate a downward move toward 161.20, which represents a logical target based on previous price behavior and market structure.
However, if the price breaks above this zone and sustains above it, the bearish outlook may be invalidated, opening the door for further upside.
Just my take on support and resistance zones—not financial advice. Always confirm your setups and trade with solid risk management.
Best of luck!
DOGEUSDT | 1H | NOW IN SUPPORT ZONEHey traders
📉 Right now, Dogecoin is at a key support level. The 0.17514 zone is a critical support area, and we need to 👀 watch how it reacts from here.
📊 I believe this sharp drop happened due to the breakdown of the Head and Shoulders pattern.
⚠️ No need to panic—just wait for my analysis update!
⭐ Don’t forget to like 👍 so you don’t miss the next Dogecoin update! 🔔
WTI CRUDE OIL – Bullish Continuation Ahead?TVC:USOIL is currently trading within an ascending channel, with price recently bouncing off the trendline support after a corrective move. This rebound suggests that buyers are stepping in, maintaining the bullish structure within the channel.
If the bullish momentum continues, we could see a move toward 70.10, which aligns with a key resistance level within the channel. This level could serve as a potential short-term target before a possible reaction from sellers. A clean breakout above the resistance zone could open the door for further upside. However, a failure to sustain this upward push could lead to another retest of the lower boundary.
Traders should watch for bullish confirmation signals such as higher lows, strong bullish candles, or increasing volume before considering long positions.
If you agree with this outlook or have any additional insights, feel free to share your thoughts!
EurUsd- The "big" move is down, not upLast week, TRADENATION:EURUSD reached a high of around 1.09 and has been consolidating ever since, now for the fifth consecutive trading day. Despite some weak upward spikes, the pair remains in a range-bound phase.
From a technical perspective, multiple resistance levels lie ahead, with the psychological 1.10 mark acting as a key barrier. Given the current price action, I believe this consolidation is more likely to result in a downside breakout rather than a continuation of the uptrend.
There is a strong possibility that EUR/USD will correct the impressive rally that began in early March.
With this outlook in mind, I see more downside potential than upside and I am considering selling into rallies, targeting a move toward 1.07.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
JPY/USD - Will we make a strong bounce?The JPY/USD is in a downward channel. Will it find support around 0.006 and rebound, or will it break below this key level?
The pair has nearly reached a major support zone—an area where buyers have previously shown strong interest. This level has historically acted as both strong resistance and support, increasing the likelihood of a bounce if buyers step in.
What do we want to see?
For a continuation to the upside, we need this level to hold as support. A bullish engulfing candle could signal a potential reversal.
If JPY/USD is to move lower, we need a clear break below support with high volume to confirm the breakout. In that case, lower prices could follow.
Thanks for your support.
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CADJPY Retesting Key Level: Will Sellers Step In?OANDA:CADJPY is approaching a key level that previously acted as support. Now that price is retesting it, there’s a good chance it could turn into resistance. If sellers step in, we could see a bearish reaction.
If the price shows clear signs of rejection from this zone, I anticipate a move downward toward the 104.500 level, which serves as a logical target for this setup. Conversely, a clean breakout above the zone could signal a potential bullish continuation.
Traders should monitor for bearish confirmation signals, such as bearish engulfing candles, long upper wicks rejecting the resistance, or increased selling volume before considering short positions. Let me know your thoughts or any additional insights you might have
USDJPY Trending Lower - Will It Drop To 145.200?OANDA:USDJPY is currently trading within a descending channel, indicating a strong bearish structure. The price has broken below a key support zone and may now pull back for a potential retest. This level previously acted as support and could now serve as resistance, aligning with a possible bearish continuation.
If sellers confirm resistance at this zone, the price is likely to move downward toward the 145.200 target. However, a failure to reject this level could indicate a potential shift in momentum.
Traders should monitor for bearish confirmation signals, such as bearish engulfing candles, strong wicks rejecting the resistance zone, or increased selling volume, before considering short positions.
Let me know your thoughts or any additional insights you might have!
CADCHF Approaching Key Support – Rebound Toward 0.61890?OANDA:CADCHF is approaching a key support zone, marked by strong buying pressure. This area has historically served as a demand zone, suggesting the potential for a bullish reversal if buyers step in.
The current market structure indicates that if the price confirms a rejection from this support zone, there is a high probability of an upward move. I anticipate that if buyers defend this level, the market may head higher toward the 0.61890 target, which represents a logical target within the current market structure. However, a break below this support would invalidate the bullish bias and could lead to further declines.
If you have any thoughts on this setup or see an alternative perspective, feel free to comment!
EURCAD Approaching Major Resistance - Correction Incoming?OANDA:EURCAD is approaching a significant resistance zone, marked by prior price rejections and strong selling pressure. This area has historically acted as a key supply zone, indicating the potential for a pullback if sellers step in and regain control.
If the price rejects this resistance, we could see a pullback toward 1.55000, aligning with a corrective move after the recent bullish rally. However, a clean breakout above this resistance zone would invalidate the bearish bias and could lead to further upside toward higher levels.
Traders should monitor for bearish confirmation signals, such as rejection wicks, bearish engulfing candles, or increasing selling volume, before considering short positions.
If you agree with this analysis or have additional insights, feel free to share your thoughts in the comments! 📉
GOOGLE at Key Support Level – Rebound Towards $190?NASDAQ:GOOGL is experiencing a corrective move after rejecting from the upper boundary of the ascending channel. This rejection has triggered increased selling pressure, driving the price back toward the channel's lower boundary. The confluence of trendline support and the overall bullish market structure enhances the likelihood of a rebound from this level.
If buyers defend this level, we could see a push toward $190, which aligns with the midline of the channel and could serve as a short-term target. A successful bounce from here would reinforce the ongoing bullish momentum within the channel.
However, if price fails to hold above this support zone, the bullish outlook could weaken, potentially signaling further downside. Traders should watch for bullish confirmation signals, such as strong rejection wicks, increased volume, or bullish engulfing patterns, before entering long positions.
If you agree with this analysis or have additional insights, feel free to share your thoughts! 🚀