CHF/USD Bullish Cup Formation | Support & Breakout Target Pattern Formation: Bullish Cup & Handle Breakout Setup
The price action on this CHF/USD 1-hour chart exhibits a Cup & Handle pattern, which is a well-known bullish continuation setup. This pattern suggests that buyers are gradually gaining control and a breakout could be imminent.
1️⃣ Understanding the Cup Formation
The cup shape (curved blue line) signifies a gradual accumulation phase, where price initially declined, formed a rounded bottom, and then started recovering.
This indicates that buyers are regaining momentum after a consolidation period.
The lowest point of the cup formed around March 16, from where the price began a steady upward move.
2️⃣ Key Support & Resistance Levels
Support Level: The strong demand zone is established around 1.1300 - 1.1320, as shown by multiple price bounces.
Resistance Level & ATH (All-Time High): The price struggled to break 1.1450 - 1.1470, indicating a major resistance zone where sellers previously took control.
3️⃣ Handle Formation & Pullback
After reaching resistance, the price formed a slight retracement (small descending wedge), which created the handle of the pattern.
The pullback was necessary to clear short-term overbought conditions before a potential breakout attempt.
4️⃣ Trading Strategy & Price Projection
🔹 Entry & Breakout Confirmation
If CHF/USD breaks above 1.1450 - 1.1470 with volume confirmation, this will validate the Cup & Handle breakout.
A confirmed breakout suggests further upside momentum toward 1.1570 - 1.1600, aligning with the pattern’s measured move.
🔹 Stop-Loss Placement
A logical stop-loss should be placed below the handle’s low (~1.1300 - 1.1320), in case of a false breakout or sudden market reversal.
🔹 Target Projection Based on Pattern Measurement
The height of the cup (~200 pips from bottom to resistance) is projected upwards from the breakout level.
This results in a take-profit target of 1.1575 - 1.1600.
5️⃣ Additional Technical Confluences
✅ Trendline Support: The price is respecting an ascending trendline, indicating continued higher lows and bullish sentiment.
✅ Bullish Momentum: The series of higher lows confirms a strong uptrend, favoring buyers.
✅ Potential Fakeout Risks: A failed breakout below 1.1300 could invalidate the bullish outlook, leading to a deeper retracement.
6️⃣ Final Thoughts: Is This a Good Setup?
📌 Overall Bias: Bullish ✅
📌 Breakout Confirmation Needed: Above 1.1450 - 1.1470
📌 Target: 1.1570 - 1.1600 🎯
📌 Risk Management: Stop-loss below 1.1300
If CHF/USD sustains momentum above resistance, traders can anticipate a strong bullish rally toward the projected target. However, it’s essential to wait for confirmation before entering long positions. 📈🔥
Trendanalysiss
Gold (XAU/USD) Pullback – Key Support Levels to Watch"📈 Chart Pattern:
Gold has been trading inside an ascending channel, showing a strong uptrend. However, the price has started to decline from resistance, signaling a potential correction.
🔹 Key Levels:
Current Price: $3,036.77
Support Target: $2,980.48 - $2,978.25 (First key support level)
Stronger Support: $2,829.63 (Major trendline support)
📊 Trading Plan:
Short-term traders may look for a sell setup toward $2,980 if the price continues its pullback.
Buyers should wait for support confirmation before entering long trades.
If price breaks below $2,980, the next support to watch is around $2,829.63.
⚠️ Risk Management:
A return above $3,050 could invalidate the bearish pullback scenario.
If the price bounces from support, buyers could target new highs.
💡 Conclusion:
Gold is currently experiencing a pullback after a strong uptrend. Watch key support zones for potential trade opportunities. 📉📊
Ethereum (ETH/USD) - 4H Analysis & Trade Setup
Market Overview:
ETH/USD is in a downtrend, forming a descending channel.
Price is currently trading around $1,915.23, showing signs of consolidation near resistance.
Technical Analysis:
Trend: Bearish
Resistance Level: $2,028.43
Support Level: $1,760
Target: $1,555.96
Pattern: Descending Channel
Trade Idea (Short Setup):
🔴 Sell Zone: Around $2,028.43 (Resistance)
✅ Target: $1,555.96 (-22.50%)
⛔ Invalidation: A breakout above $2,028
Conclusion:
Ethereum is respecting the downward channel structure.
A rejection from resistance at $2,028 could confirm further downside.
Traders may consider short positions targeting $1,555.96, provided the trend remains bearish.
📉 Bearish bias remains intact unless price breaks above resistance.
XAUUSD BUY NOW XAUUSD - GOLD
TRADE SETUP & KEY POINTS :
4Hr time frame forming a Parallel Channel.
Market Coming Channel Bottom.
Support Level - 2710 $
Next Support & Channel Bottom - 2692 $
Entry - Focus on Support Levels
Target - Channel Top
Stoploss - Channel Breakout ..
Happy trading .. we will Update soon ..
EURCAD: Bearish Momentum in PlayHello Traders,
Trust trading has been awesome for you.
Please find below my analysis of the EURCAD currency pair from H4 perspective.
Trend & Sentiment
The pair remains bearish, forming lower highs and lows. Sellers maintain control, though the current consolidation suggests temporary indecision, even though price is facing resistance around the 1.48591.
Key Levels:
Resistance: 1.48591
Support: 1.47211
Possible Movement
A break below the equilibrium at 1.47993 could accelerate bearish momentum toward 1.47211 and 1.45831. A short-term pullback to the resistance at 1.48591 is possible (as we saw the buyers temporarily pushed above this region and closed back below it) but likely to face renewed selling pressure.
Short-Term Target: 1.47800
Medium-Term Target: 1.47211
Long-Term Target: 1.45831.
This trade may last from now till 22nd November or beyond to fully unfold.
Conclusion
The bias remains bearish, with a focus on the downside targets unless the price breaks above 1.48898 to challenge the trend.
Cheers and happy trading!
EURCAD still bearish expectations
EURCAD in last week we are have strong bearish trend, technicalls are be strong bearish and one of impacts is come from USD weakened.
On 4h TF we can see bearish expanding triangle, bounce from top zone of triangle is start on 26.8 price is fall 200PIPS.
Now for new week, next periods, based technically here still strong bearish expecting.
Based on price action can see 1.49500 strong zone is breaked on 30.8 Friday, which will use for one more good sign for bearish still to see.
TP1: 1.47100 (200)
All best, here for comments, stay tuned!
Gold Market Outlook: Bullish Trend Expected To PersistOur technical analysis and market indicators suggest that gold will continue to exhibit bullish behavior tomorrow, Identified buy level at 25 and 20, building on the momentum established in recent trading sessions. This optimistic forecast is supported by robust fundamental factors, including:
- Strong investor demand for safe-haven assets
- Central banks' continued gold reserves accumulation
- Favorable macroeconomic conditions
Continuation of selling of SPXAs we confirmed the trend reversal for the moment, we might have possible two scenarios:
We might have similar push up during the night before continuation of a drop
Secondly, if we get higher prices during the night or at NYSE open, we might continue our way down until we got extended.
GOLD|They are still the winners of the seller's marketAs we expected from gold, when we said that the selling pressure is more, it crossed the 2048 support area with great strength, in this area we did not have a suitable candle confirmation to enter the transaction. Arriving at the next support area that we mentioned before, by observing the pin bar candle Ascending in the price area of 2033, we could enter into buy transactions, which has already given us 160 pips of profit.
Continuing the movement with the growth experienced from the support area, I am still waiting for the price to reach the resistance areas to enter sell trades, the most important area ahead is the midline of the descending channel that has already been broken and the supply area price 2055. In case of reactions Returning from this area, as I said, we can place up to the price of 2035 equivalent to 200 pips for the profit limit.
GBpAUD - November 25, 2023. GBB/AUD - November 25, 2023.
From the most preferred currencies of thousands. Perhaps that's why I forgot about an active trade for 5 months, and it had gone exactly 10K pips in my favor. Anyway.
As we are at the end of the fourth quarter of 2023. If we go back and analyze GBPAUD in 3 months, it gives us an image of a double bottom. The double bottom has been respected positively, and now, since the beginning of 2023, this pair has been rising from the points where it was at 1.59; currently, it is trading at 1.91. A lot of pips, right? Let's continue.
From my perspective, I see GBPAUD during 2024 reaching 2.02. Not too much, right? For those who are familiar with this pair, they know.
In the monthly view, if we look at the current state, we see that it is re-testing a support (to mine) at 1.90 and it is taking some time.
In the weekly view, there is a double bottom, and according to my opinion, it is directly related to what is mentioned above (expecting it to reach 2.02).
Anyway, when we open the daily chart, we see that the price has remained in a small zone but, importantly, where the movements that are coming are crucial to determine where it will go later.
I expect it to reach the third point of the trendline and the support (below) that it has, and if it holds well at this point, then GBPAUD will start to rise.
From the most preferred currencies of thousands. Perhaps that's why I forgot about an active trade for 5 months, and it had gone exactly 10K pips in my favor. Anyway.
As we are at the end of the fourth quarter of 2023. If we go back and analyze GBPAUD in 3 months, it gives us an image of a double bottom. The double bottom has been respected positively, and now, since the beginning of 2023, this pair has been rising from the points where it was at 1.59; currently, it is trading at 1.91. A lot of pips, right? Let's continue.
From my perspective, I see GBPAUD during 2024 reaching 2.02. Not too much, right? For those who are familiar with this pair, they know.
In the monthly view, if we look at the current state, we see that it is re-testing a support (to mine) at 1.90 and it is taking some time.
In the weekly view, there is a double bottom, and according to my opinion, it is directly related to what is mentioned above (expecting it to reach 2.02).
Anyway, when we open the daily chart, we see that the price has remained in a small zone but, importantly, where the movements that are coming are crucial to determine where it will go later.
I expect it to reach the third point of the trendline and the support (below) that it has, and if it holds well at this point, then GBPAUD will start to rise.
GBPUSD: 1.2179 is strong so be careful! Hello traders,
1.2179 is strong enough to retrace the GBP. We'll wait for any breaks out of the level before putting sell orders.
There is one entry and1 TP for this pair.
Levels calculated order_block, regarding support and resistances, channel and pivot points.
W9.1-5 ROSE BULLISH IDEA (HARMONICS BULLISH PATTERN)Potential Bullish Entry
Dow Theory In Place - Higher High and Higher Low Expected in Place
Formation of Harmonic Bullish reversal Pattern coupled with bullish divergence at potential reversal zone (PZR)
Entry at the new HH
SL & TP Levels are defined.
IMMINENT GOLDEN CROSSMedipharm Labs's 50-day and 200-day moving average lines are a quarter of a penny from forming a GOLDEN CROSS, a strong BULLISH signal.
Extrapolation of these lines strongly suggests that they might form a GOLDEN CROSS this coming week.
Also, the Accumulation/Distribution indicator has clearly been trending upwards.
Tradingview's current technical analysis summary is STRONG BUY: www.tradingview.com
GLTA!