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Traderchamp

⚠️WATCH THIS: BITCOIN FAKE BREAKOUT AND BEARISH CHANNEL The anticipated breakout in Bitcoin didn't materialize as expected in our last update. However, there's been a notable rebound in BTC's price, raising the possibility of a potential breakout in the market structure. It's crucial to closely monitor the current market price for signs of either a confirmed reversal or breakout to ascertain the future trajectory. If BTC continues to indicate a retracement towards lower levels, there's a chance it could dip towards the $50k zone.
Long
by traderchamp_
AUDCHF UP OR DOWN WITH THIS SETUP? AUDCHF has once again retested the significant resistance level identified within the hourly timeframe. This suggests a potential reversal, indicating that the price continues to regard the highlighted zone as a major selling area. Additionally, a triangle pattern has formed, but it's essential to await confirmation of a breakout before taking a position. Patience is advised, as there's also a possibility of an upward rally if the key structure and resistance are breached.
Short
by traderchamp_
2
AUDCAD ON A MAJOR RESISTANCE ZONEAUDCAD Rallied significantly to the upside and now we are witnessing a revisit back on a major resistance zone. Here we are expecting to see a potential reversal to the downside. On the following highlighted zone we have seen a strong selling pressure on the left earlier when the price meets in this region. More importantly, the price of the AUDCAD pair has created an expanding channel and the price has created a strong upper boundary which is acting as a major resistance.
Short
by traderchamp_
1
USDCHF CHANNEL BREAKOUTUSDCHF confirmed a major hourly channel breakout recently. Here we expect to see a further decline in price which is expected to revisit back towards the highlighted bottom level support/key level formed. This channel has created a very strong supported trend line with its lower boundary which has now been invalidated with its breakout confirmation. The key level is holding a level of 38% on the Fibonacci retracement on its major bullish trend.
Short
by traderchamp_
GOLD IS ON A BULL TREND AGAIN. $2350 COMING NEXT 😱Gold respected the lower boundary of the major bearish channel formed. With the reversal identified, we witnessed a breakout and pullback on the previous support created at the $2310 region. Since the price has respected this area one more time. We expect to see a continuation of the current bullish trend to the upside targeting $2350. If the price remains bullish biased even after the expected target was met at $2350 then we should confirm a bullish breakout on the resistance created around this $2350 level for another breakout and continuation. This is where we may witness a complete rally towards the upper boundary of the major bearish channel formed. And this breakout confirmation will be crucial for gold future prices during the year 2024.
OANDA:XAUUSDLong
by traderchamp_
⚠️BITCOIN AT RISKS! ANOTHER DROP AHEAD TOWARDS $51K ❗️Bitcoin has confirmed another major breakout on the long-held support created at the $60k region. Here I witness a breakout and pullback price action which indicates a potential downside shift toward the next support created at $51k zone. If the bearish sentiment creates the required selling pressure, we may see another hard dump towards this price zone. Watch closely for the price action under the lower timeframe for a bearish flag or indication that can support the bearish perspective we hold here. Looking for a short setup personally which can be targeted towards the next support.
Short
by traderchamp_