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Trend Line Break

IFCI Giving a Strong BreakOutIFCI Ltd. operates as a non-banking finance company, which engages financing activities that cover various projects. It supports projects such as airports, roads, telecom, power, real estate, manufacturing, services sector and such other allied industries.The company was founded on July 1, 1948 and is headquartered in New Delhi, India. Stop-Loss: 65 Target: 85 Consider exiting half your position after a 10-12% gain and hold the rest to capture the trend. Disclaimer: This information is for educational purposes only and should not be construed as financial advice. Always conduct your own research or consult with a professional advisor before making any investment decisions.
NSE:IFCILong
by Akshaytrader007
ENGINERSIN giving a good BreakoutEngineers India Ltd. engages in providing engineering, technical, and consultancy services. The firm operates through the following segments: Consultancy & Engineering Projects and Turnkey Projects. The company was founded on March 15, 1965 and is headquartered in New Delhi, India. Stop-Loss: 268 Target: 350 Consider exiting half your position after a 10-12% gain and hold the rest to capture the trend. Disclaimer: This information is for educational purposes only and should not be construed as financial advice. Always conduct your own research or consult with a professional advisor before making any investment decisions.
NSE:ENGINERSINLong
by Akshaytrader007
Gold Price Analysis: A Closer Look at Key Levels & Future Moves!Trading Idea Breakdown for XAUUSD Chart Overview: Time Frame: 4-hour chart Instrument: Gold Spot (XAUUSD) Key Levels and Zones: Daily LQZ (Liquidity Zone): Level: 2450.370 Significance: Major liquidity area where price is likely to experience significant reactions. 4-hour / LQZ: Level: 2437.909 Significance: Intermediate liquidity zone crucial for intraday trading decisions. 1-hour TP (Take Profit) Zone: Level: 2419.054 Significance: Shorter-term take profit area, potentially indicating minor resistance. Support and Resistance: Key Support Level: Around 2410.920 Previous Top of Flag: Highlighted zone where price action showed previous resistance before breaking out. Technical Patterns: Flag Pattern: The chart showcases a flag pattern where the price initially showed strong upward momentum (flagpole) followed by a consolidation phase within parallel lines (flag). The breakout from this flag pattern indicates a continuation of the bullish trend. Upward Channel: The price is currently moving within an upward channel, suggesting a controlled and steady rise in the price of gold. Current Price Action: Price: 2410.920 (at the time of the screenshot) The price has broken out of the flag pattern and is currently trading near the 4-hour LQZ level. There's an observed strong bullish momentum as the price approaches the daily LQZ. Trading Plan: Bullish Bias: Given the breakout from the flag pattern and the upward channel, the bias remains bullish. The price targeting the daily LQZ indicates further potential upside.
OANDA:XAUUSD
by Adlercon333
Gold Set for Explosive Breakout! Key Levels & Patterns to Watch!Daily Chart Breakdown Chart Overview: Time Frame: Daily Key Levels: Daily LQZ: 2,450.370 4hr/ LQZ: 2,437.909 1hr TP: 2,419.054 Current Price: 2,410.920 Analysis: Higher Highs (HH) and Higher Lows (HL): The chart indicates a strong uptrend with the formation of higher highs and higher lows. This suggests that the market is in a bullish phase. Flag Pattern: The price action has formed a flag pattern, which is a continuation pattern. The breakout from this pattern could lead to further upward movement. Channels: The price has been moving within an ascending channel, indicating sustained upward momentum. A descending channel breakout in the past led to the current ascending channel, showing a reversal and continuation of the bullish trend. Conclusion: The daily chart shows a strong bullish trend with key levels to watch for potential entries and take-profit targets. The flag pattern and ascending channel support the bullish outlook. 4-Hour Chart Breakdown Chart Overview: Time Frame: 4-Hour Key Levels: Daily LQZ: 2,450.370 4hr/ LQZ: 2,437.909 1hr TP: 2,419.054 Current Price: 2,410.920 Analysis: Flag Pattern: The price action is forming a flag pattern similar to the daily chart. This reinforces the bullish continuation expectation. Channels: Descending Channel: A descending channel was broken, leading to the current ascending channel. Ascending Channels: Multiple ascending channels are observed, indicating strong bullish momentum with higher lows and higher highs. Conclusion: The 4-hour chart aligns with the daily chart, showing strong bullish momentum with clear patterns and channels supporting further upward movement. Watching the key levels mentioned can help identify entry points and targets. 1-Hour Chart Breakdown Chart Overview: Time Frame: 1-Hour Key Levels: Daily LQZ: 2,450.370 4hr/ LQZ: 2,437.909 1hr TP: 2,419.054 Current Price: 2,410.920 Analysis: Flag Pattern: A smaller flag pattern is forming, suggesting a short-term bullish continuation. Channels: Ascending Channel: The price is moving within an ascending channel, showing strong upward momentum. Holding Channels: The price has respected the ascending channels, indicating potential for further upward movement. Conclusion: The 1-hour chart provides a detailed view of the recent price action, confirming the bullish trend seen in higher time frames. The ascending channels and flag pattern suggest continued upward movement with key levels acting as potential targets. Overall Summary The analysis across daily, 4-hour, and 1-hour charts shows a consistent bullish trend with the formation of higher highs and higher lows. Flag patterns and ascending channels indicate strong upward momentum, with key liquidity zones and take-profit targets identified for potential trading opportunities.
OANDA:XAUUSDLong
by Adlercon333
XRP - Increase Possible after THIS LEVELXRP - it's possible that the bottom may be near, and we're going to use a technical indicator to look for the bottom. It should be noted that I am NOT a fan of XRP BUT, I understand tat all coins are tradable despite whether or not I like them. So let's dive into the SIGNS of the times: Looking at the RSI below the chart, historically XRP bottoms are close when the RSI hit's the yellow line (34). It could trade lower for a few ore weeks to come, but ultimately this low RSI signals the bottom is either in or close. It is also worth noting that the M-Pattern should be finished playing out, or close to finished: Either way, if you MUST trade XRP, buy low and sell high. Bag holders gets burnt! ____________________________ BINANCE:XRPUSDT
by CryptoCheck-
Revealing My Top Gold Trading Secrets for Huge Profits!In this video, I reveal my top trading secrets for making huge profits in gold trading (XAU/USD). This educational content will cover key technical analysis techniques and strategies that I frequently use in my charts, as well as valuable insights into trading mindset and proper risk management. Let's unlock the potential of your trading skills together! Technical Approach: In this educational segment, we'll focus on the core technical analysis principles that I use to make informed trading decisions. Here's a detailed breakdown of my approach: Identifying the Trend: Uptrends and Downtrends: Learn how to recognize market trends using higher highs and higher lows for uptrends, and lower highs and lower lows for downtrends. Trendlines: Use trendlines to connect the highs and lows of price movements, helping to identify the direction of the trend and potential reversal points. Support and Resistance Levels: Support Levels: Identify areas where the price tends to find support as it falls, acting as a floor preventing further decline. Resistance Levels: Identify areas where the price tends to find resistance as it rises, acting as a ceiling preventing further ascent. Historical Price Action: Use past price movements to pinpoint key support and resistance levels that the market respects. Liquidity Zones (LQZ): Definition: Liquidity zones are areas on the chart where there is a high concentration of trading activity, often leading to significant price movements. Identification: Learn how to spot these zones using volume profiles, order flow analysis, and historical price action. Trading Strategy: Use liquidity zones to identify potential entry and exit points, as they often precede major price moves. Volume Analysis: Volume Spikes: Understand how volume spikes can indicate strong buying or selling interest, confirming the validity of price movements. Volume Trends: Analyze volume trends to gauge the strength of a price trend and anticipate potential reversals. Entry and Stop Loss Strategies: Breakouts and Pullbacks: Enter trades on confirmed breakouts above resistance or below support, or on pullbacks to key levels within a trend. Trailing Stop Loss: Implement a trailing stop loss to lock in profits as the trade moves in your favor, adjusting the stop loss level as the price progresses. Mini Lessons: Mindset: Patience and Discipline: Patience: Wait for the right trading setups that meet your criteria, avoiding impulsive decisions. Discipline: Stick to your trading plan and rules, even when the market becomes volatile or unpredictable. Emotional Control: Stay Calm: Keep your emotions in check to avoid making irrational decisions based on fear or greed. Mindfulness: Practice mindfulness techniques to remain focused and calm, especially during stressful trading situations. Proper Risk Management: Position Sizing: Risk Per Trade: Limit the amount of capital you risk on any single trade, typically 1-2% of your trading account. Position Size Calculation: Calculate your position size based on the distance to your stop loss and your risk tolerance. Risk-Reward Ratio: Target Ratio: Aim for a risk-reward ratio of at least 2:1, meaning your potential profit should be at least twice your potential loss. Trade Evaluation: Evaluate each trade based on its risk-reward ratio before entering, ensuring it aligns with your trading strategy. By incorporating these technical strategies and mindset principles, you can enhance your trading performance and increase your chances of success in the gold market. Stay tuned for more educational content and trading insights!
OANDA:XAUUSDEducation
by Adlercon333
MAPO CAN SHOWS NEW INCREASEI hope you all are doing well and navigating the crypto market with your best strategies that are possible. This update is for MAPOUSDT. This coin seems to be new on some exchanges and can be high risk for the short term and 100% risky when users trade and invest with not a plan. MAPO seems to be at an important key level, where it has a high chance of breaking in the coming time. WE will follow this coin with the possibility of the trend increasing and breaking. Remember, there are no guarantees in the market. Always follow a consistent system based on your own strategies and analysis that are at long term profitable. The reason for expecting this coin can increase Activation of a new trend with the possibility of starting a new cycle. Good times, everyone. This update is not trading or financial advice.
Long
by SatochiTrader
Amazon - Why is there no resistance?NASDAQ:AMZN broke out of a long term consolidation phase and is starting a massive rally. Every major consolidation is followed by a major breakout. And if the overall trend is bullish, a bullish breakout is more likely to happen. Last month Amazon finally broke above a multi year resistance level and is now heading back to the top of the rising channel formation. If we actually get a retest of the breakout level, you can then simply enter a long position. Levels to watch: $180, $380 Keep your long term vision, Philip - BasicTrading
NASDAQ:AMZNLong
by basictradingtv
6
USDJPY → Interventions + CPI. The market doesn't believe it...FX:USDJPY is coming under bearish attack. Immediately after the US CPI release, the Japanese Central Bank intervened in the FX market to support the yen. Fundamentally this was to be expected. Japan's central bank is not trying very hard to preserve its national currency. In order to invest minimal effort, policymakers took advantage of the US CPI report. The CPI + Interventions tandem led to a 2.7% decline in the currency pair. But, traders are starting to buy back some of the decline. Ahead of PPI, the news could both amplify the fall and smear all the efforts of the BoJ. Technically, I don't think such actions will lead to anything global. The growth could continue. On W1 the nature of the market does not change, all interventions are gradually bought out and the currency pair will continue to update the highs. Resistance levels: 159.6, 160.2, 160.5 Support levels: 157.7 It is possible to buy out and test the imbalance zone before the subsequent decline. A favorable background may be the PPI report, but after the market calms down, traders may return to JPY sell-offs, which may lead to the continuation of USDJPY growth. Regards R. Linda!
Long
by RLinda
5
GBPUSD & DXY Forex Update: Key Triggers and Market Insights📅 Today, we're diving into the Forex market, specifically analyzing the GBPUSD pair. Previously, we examined this pair on the weekly time frame, and now I’ll provide an update with new entry points marked on the chart. 🔄 Weekly Time Frame Analysis In our previous analysis, we identified 1.28019 as the first long trigger on the weekly chart. The price has since stabilized above this level and even activated the 59.01 trigger on the RSI. As mentioned before, the next target is 1.31921, and with a 230-pip distance, this level can offer a significant profit to those who entered long positions following the breakout. 🧲 Curved Trend Line We also have a curved trend line in this area, which can inject substantial momentum into the market and push the price upwards. If this trend line breaks, we can expect a trend reversal and a potential downward move. 📊 Trend Health Check Checking the health of the trend, we notice that each successive bullish wave has weakened while the red candles remain powerful. However, the RSI shows no signs of trend weakness or divergence, and the price has managed to create a higher high. Thus, despite the weakened upward trend, the price has managed to start a robust new trend and cover its previous weaknesses. 📈 Target and Rest Period Upon reaching 1.31921, the price will likely take a rest before creating new market structures, allowing us to find new triggers for decisions. If this area breaks, the next target on the weekly chart is 1.36736. 📉 Bearish Scenario If the price reverses the entire recent upward move and breaks the curved trend line, activating the 1.26262 trigger, we can expect a downward movement. The main trigger is 1.23585, with targets at 1.20909 and 1.18253. 📅 Daily Time Frame Analysis Let's examine the daily time frame to observe price behavior in more detail. After multiple tests of the 1.28019 resistance, the price finally stabilized above it, driven significantly by the recent US CPI news which weakened the US dollar, causing pairs against the dollar to rise. 📰 US CPI Impact The US CPI report showed a decrease in inflation, causing the DXY to drop. Lower inflation reduces investment appeal in the country, leading to a weaker currency. As the dollar weakens, pairs like GBPUSD rise. 💣 RSI and Momentum The RSI has entered the overbought (OB) zone, indicating strong bullish momentum in the market. The price hasn't taken a break, showing only one red candle in the last 12 and forming no structures for a clear trigger. 🎈 SMA99 As previously mentioned, the SMA99 acts like a black hole, pulling prices towards it if they move too far away. Currently, the price isn't too far from the SMA99, suggesting more upward movement potential. However, if it moves too far, the SMA99's "black hole" effect could come into play. 📈 Long Position Strategy For a long position in this time frame, we should wait for the price to form a new structure. We could also look at lower time frames like 4-hour or 1-hour charts to find suitable long triggers. In this time frame, patience is key before opening a long position. 📉 Short Position Strategy The short position trigger remains the same as on the weekly chart. We need to wait for the curved trend line to break and activate the 1.26262 or 1.23585 triggers. 🔍 DXY Chart Analysis The DXY chart on the daily time frame shows a large ascending triangle, with a previous false breakout and a move back up from the 100.883 support. The recent upward move failed to reach the 107.017 resistance and turned back from 106.338, a strong supply area making it difficult for the price to stabilize above this range. 🔫 Short-Term DXY View On a smaller scale, the DXY has a ranging box between 104.039 and 106.338. The recent upward move couldn’t reach the box ceiling, and with the main ceiling at 107.017, this confirms significant upward trend weakness. 🪓 RSI Confirmation A drop below 38.71 in the RSI confirms the entry of bearish momentum into the market. If the price breaks the ascending trend line and stabilizes below 104.039, downward momentum will drive the market. 📰 Fundamental Weakness in USD As highlighted in the GBPUSD analysis, the USD is weakening fundamentally, adding another layer of confirmation for a potential DXY decline. 🎯 DXY Targets The initial target for a DXY drop is 102.688, with a second target at 100.883. Upon reaching these targets, the price will likely range for an extended period, forming a new structure for either a drop or a rise. 🧠💼 Always remember that trading futures involves inherent risks, and improper risk management can lead to margin calls. Stick to your capital management principles and use stop-loss orders, aiming for an initial risk-to-reward ratio of 2. 🫶 If you found this analysis helpful and want to support me, please like and share this analysis. Feel free to leave your comments or suggest a coin you'd like me to analyze next.
Long
by itsparham96
1
Tesla's Shocking Plunge: Is the Bubble Finally Bursting?This is a Walk through of How i Took Advantage of the Giant Move on TSLA Current Price Action: The current price is $240.89, reflecting a decrease of $7.20 (or 2.90%). Liquidity Zones (LQZ) / Take Profit (TP) Levels: There are two marked LQZ/TP levels: LQZ/TP 1 at $263.53 LQZ/TP 2 at $270.21 Support and Resistance: Multiple dashed lines indicate key support and resistance levels: $138.36, $142.18, $145.51 (support zones) $159.45, $168.98, $173.21, $175.92 (support/resistance zones) $260.27 (resistance) $300.01 (resistance) Trend Lines: A downward-sloping trend line (dashed blue) from previous highs suggests a long-term bearish trend. Price recently broke above this trend line, indicating a potential change in trend or a strong bullish move. Candlestick Patterns: Recent candlesticks show a strong upward move followed by a pullback, which is typical after a strong rally. Volume: Volume is indicated, with the latest volume bar showing 6.468 million shares traded.
NASDAQ:TSLA
by Adlercon333
Gold decreased slightly before today's PPI news💵GOLD PRICE AND ECONOMIC INFORMATION Gold fell below $2,410 per ounce on Friday after rising nearly 2% in the previous session, but is set to notch a third straight weekly gain, supported by softer-than-expected inflation figures for the US. Headline inflation slowed more than anticipated to a one-year low of 3% in June, while the annual core measure dropped to a three-year low of 3.3%. The deceleration has heightened expectations for a Federal Reserve rate cut, with traders now pricing in a 93% chance of a rate cut in September, up from 73% on Wednesday. Meanwhile, San Francisco Fed President Mary Daly expects further easing in price pressures and the labor market to justify rate cuts, while Chicago Fed President Austan Goolsbee believes the US economy is on track to achieve 2% inflation. 🔴SELL GOLD: 2438 - 2440, SL: 24046 🟢BUY GOLD: 2395 - 2393, SL: 2389 🟢BUY GOLD: 2382 - 2380, SL: 2376 ⛔️Breakout: top border 2414 - 2425 - below 2403 - 2396 - 2390 🔼Support: 2403 - 2397 - 2392 - 2387 - 2378 - 2370 🔽Resistance: 2414 - 2425 - 2437 - 2449 - 2460 GOOD LUCK EVERYONE👍
OANDA:XAUUSD
by Scalper_Ananda
GOLD → 2387 is key resistance, but ahead of CPI...FX:XAUUSD continues to maintain a bullish market structure, gradually pushing up to strong resistance with a breakout target. The US dollar is declining amid dovish US Fed assumptions.... All eyes remain on the US CPI report Powell's caution on weakening labor market conditions suggested that a September rate cut is likely just around the corner, which once again brought down the US dollar along with US Treasury yields. Softer US annual CPI data or a surprise decline in monthly inflation could confirm the September Fed rate cut and increase the chances of another rate cut in December. And vice versa... Technically, buyers are pushing up to 2387. A break of resistance will open the way to 2400-2437. But, there could be a correction before that Resistance levels: 2387 Support levels: 2378, 2370 Favorable news can strengthen the movement, in which case the resistance breakout is not to be missed. But, unexpected data may shake the market, the dollar may continue its strengthening phase and in this case gold will head towards 2350. Rate, share your opinion and questions, let's discuss what's going on with gold ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
29
Nasdaq - (Bullish) Clarity in two days!TVC:NDQ is now retesting a very important inflection level and maybe attempting a breakout. Parabolic rise or -20% correction over the next couple of months. So far there is a lot of uncertainty as to whether the Nasdaq will manage to break above the current resistance trendline. We simply have to wait for this monthly candle closure as well as the monthly candle closure of July until we can make a clear prediction. So far, everything is still possible! Levels to watch: $20.000, $16.000 Keep your long term vision, Philip - BasicTrading
TVC:NDQLong
by basictradingtv
16
EURUSD → The morning gap is bought out. The bulls are aggressiveFX:EURUSD opens with a gap down, but buyers are actively buying back the move. The nature of the market is bullish, but at the same time consolidation, as there is strong resistance ahead. The fundamental background is favorable, there is no news today. Last week traders took well the fact of unemployment growth, within the framework of which active buying started. Technically, on H4 a bullish distribution is forming towards 1.085, from which, after the initial testing of the liquidity area, a correction may follow. But in general, I expect the continuation of growth (rebound from 1.0816 or breakdown of 1.085). Resistance levels: 1.0852, 1.091, 1.1 Support levels: 1.0816, 1.078 The nature of the market is changing and the bulls are actively holding key areas. The market is bullish and a breakout of the nearest resistance will favor the continuation of growth. Regards R. Linda!
Long
by RLinda
1
AUDUSD → Price squeezes in front of resistance. A breakout?FX:AUDUSD is forming a strong consolidation on the chart as the price is squeezing to the resistance at 0.67. On the background of weakening DXY, buyers have chances to break the area. There is news ahead and at the moment traders are preparing to break resistance. Favorable news may contribute to the breakout of the strong limit zone and the formation of a distribution towards 0.684. Technically, the chances are high (strong bullish pattern) Traders are waiting for: ADP, Initial Jobless Claims, SP PMI, ISM, FOMC. Quite a busy news day, against which high volatility is expected. After Powell's words yesterday, the situation is neutral, but the dollar is going into correction. Everyone is waiting for the data on the labor market, on which the further situation will depend. Resistance levels: 0.67 Support levels: 0.665, 0.662, 0.6586 Technically, the situation is bullish, the emphasis is towards the resistance breakout. Further everything will depend on the fundamental background. A favorable background for AUD will increase purchases, but a negative background may cause a correction. Regards R. Linda!
Long
by RLinda
3
XAUUSD reserves increased ahead of today's CPI💵GOLD PRICE AND ECONOMIC INFORMATION Gold rose near $2,375 per ounce on Thursday, rising for the third straight session, as investors await US CPI data due later today to seek cues on the Federal Reserve's timing and depth of interest rate cuts. The annual CPI inflation is expected to ease from 3.3% to 3.1% in June, while the core CPI is anticipated to remain unchanged at 3.4%. 🔴SELL GOLD: 2390 - 2400, SL: 2404 🟢BUY GOLD: 2340 - 2338, SL: 2334 ⛔️Breakout: top border 2387 - 2390 - 2403 - below 2370 - 2365 - 2355 🔼Support: 2365 -2355 - 2350 - 2340 - 2335 🔽Resistance: 2387 - 2395 - 2400 - 2410 - 2414 GOOD LUCK EVERYONE👍
OANDA:XAUUSD
by Scalper_Ananda
STX Daily Analysis: Anticipating a Breakout📅 Let's dive into today's analysis in the crypto market. Today's coin is STX, one of the coins that gave significant returns during Bitcoin's surge from 16k to 73k. We won't analyze Bitcoin today since I will provide a complete analysis of Bitcoin tomorrow. 🔍 Analysis of STX Project Overview STX is a layer-2 solution for Bitcoin, similar to other layer-2 solutions, it increases network speed and reduces transaction fees. Additionally, STX provides infrastructure on the Bitcoin network for building decentralized applications (DAPPs). Many well-known DAPP projects use this platform and protocol for their infrastructure. 🎲 Chart Analysis The analysis is conducted in the daily time frame. As you can see, STX had a powerful upward trend and, after reaching the resistance of 3.686 and concurrently with Bitcoin reaching its peak of 73k, it started to retrace. This retracement has been marked by a curved trendline and a trendline from the price bottom, leading the price down to the 1.316 area. 🧩 Key Support Level The support level at 1.316 is quite strong. It is significant not only from a price action perspective but also because it coincides with the 0.5 Fibonacci level, adding to its importance. 📊 Volume Analysis During the last upward wave from 1.316 to 3.686, the volume of green candles began to decrease, indicating a weakening trend that was visible on the chart. After this, and during the correction phase down to 1.316, the volume continued to decrease, suggesting that traders did not engage in buying within the range of 1.316 to 3.686. This indicates that the resistance at 3.686 is not very strong, and the price is likely to test this area again. 🧲 Trendlines and Breakout Scenarios The trendlines that have brought the price down from 3.686 to 1.316 are nearing their end. The price will soon break either the upper or lower trendline. If the curved trendline is broken and its trigger is activated, the price could rise back to the 3.686 peak with a significant influx of buying volume. Conversely, if the trendline from the price bottom is broken, there are two potential scenarios: If selling volume enters the market and Bitcoin loses its 55k support, we can expect a strong bearish momentum. Breaking the 33.44 support on the RSI can confirm this momentum entering the market. If the trendline is broken but Bitcoin maintains its support and selling volume does not enter the market, we might see the bearish trend exhaust, and the price could move back above the 1.316 support level. 💥 Bitcoin's Influence The reason Bitcoin's support and resistance are crucial for this coin's movement is that STX is a layer-2 solution for Bitcoin. Layer-2 projects generally have a high correlation with their primary projects. Additionally, with Bitcoin's dominance at 54%, Bitcoin naturally influences all altcoins, especially one that serves as a layer-2 solution for Bitcoin. 🛒 Buying Strategy in Spot The safest trigger for buying this coin in the spot market is 3.686, which is the all-time high (ATH) for this coin. If the price stabilizes above this level, it could move towards new targets. However, this trigger is 130% away from the current market price, which is quite a distance. Until the price reaches 3.686, there are other triggers that, upon stabilizing above these levels, the price could move upwards. Naturally, these triggers are riskier than 3.686, and the probability of hitting a stop loss is higher. The first trigger is 1.801, which is the peak of the Low Wave Cycle (LWC). Since the price is in a High Wave Cycle (HWC) uptrend, you can consider entering in the LWC. The next trigger for buying is 2.422, which is the MWC resistance. After breaking and stabilizing above this area, we can move towards the 3.686 peak. 📝 Conclusion STX, a layer-2 solution for Bitcoin, is currently at a critical support level of 1.316, which is significant both in price action and Fibonacci terms. With decreasing volume indicating a potential test of the 3.686 resistance level again, traders should watch for key breakouts and Bitcoin's influence on the market. Considering the triggers and support levels mentioned, strategic entries can be made with proper risk management. 🧠💼 Always remember that trading futures involves inherent risks, and improper risk management can lead to margin calls. Stick to your capital management principles and use stop-loss orders, aiming for an initial risk-to-reward ratio of 2. 🫶 If you found this analysis helpful and want to support me, please like and share this analysis. Feel free to leave your comments or suggest a coin you'd like me to analyze next.
Long
by itsparham96
1
GOLD → An intermediate bottom of 2350 is forming. What's next?FX:XAUUSD is testing 2350, gathering liquidity below this zone. Bulls are actively holding the defense above the key area and the overall picture looks promising.... BUT! Powell's speech continues today ahead of CPI and PPI. Things are heating up, the slightest hint of an unpredictable outcome could shake the market. For now, there are some positive signs after Powell's words: - Keeping rates high for too long could jeopardize growth in the U.S. economy - A rate hike is unlikely to be the next step - The Fed has made significant progress in bringing inflation down to the 2% target, recent monthly numbers show modest further progress - Fed needs more favorable inflation data to cut rates Overall, traders are not getting enough of this, the market is in consolidation and no one is in a hurry to take premature action yet. We are waiting for today's comments of the Fed chief. Technically, gold is showing bullish dynamics after the bulls did not let the price go beyond 2350. The price is consolidating above the key level of 2365 and testing the area of interest and liquidity of 2375-2380. A breakout and consolidation of the price above this area may further strengthen the price, as the promising target, at the moment, is 2387 - 23400. Resistance levels: 2373, 2380 Support levels: 2365, 2355, 2350 A bounce to the downside before further growth is possible, but price consolidation above the key zones could form an interim bottom for the bulls. All emphasis on Powell's comments..... Rate, share your opinion and questions, let's discuss what's going on with gold ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
8
GOLD → The fight for 2365. Can we get to 2400? FX:XAUUSD is trading within an ascending channel, but traders are actively selling off all of Friday's growth. The key roll is played by the resistance 2365, at the moment bears are holding the market. The dollar stops falling amid expected comments from Powell, as well as CPI and PPI to be released on Thursday and Friday. The fundamental background is neutral at the moment, Against this background gold is getting under correction and testing the liquidity area of 2350. Now all the focus is on 2365, relative to which a false breakout has been formed. IF: sellers will hold 2365 and will not let the price above this level, we should expect a decline to 2350, 2341 and further it is worth watching the situation, because in this case the price can reach 2325. If the buyers continue to be active and can form a consolidation above 2365, it will open a channel, the upper boundary of which will be 2387 and we can go up to it. Resistance levels: 2365, 2387 Support levels: 2358, 2350, 2341 Two scenarios, as the situation is complicated due to the unstable fundamental background and the struggle between the participants in the key zone that divides the plane into bearish and bullish. I would prioritize a small bounce from 2365, resistance retest, breakout and bullish momentum to 2375-2385. Regards R. Linda!
FX:XAUUSDLong
by RLinda
21
Bitcoin - 42k soon! (Fibonacci channel, roadmap)Why am I bearish on BTC? With all the crypto regulations around the world and, recently, banning stable coins in Europe + high transaction fees - crypto is losing its popularity, and people are starting to hate crypto. Which means no one wants to use it, and where there is no use, there is no money. Maybe crypto is not as good a technology as presented by banks. Crypto has been a huge disappointment for all investors in recent years. Ask yourself a question: Are you happy with your crypto holdings or not? Wasn't it better to put your money into NVIDIA? Nvidia made 10x in only a 2-year period. And this is a big stock, not a penny stock. Bitcoin hit an all-time high in March and failed to continue the price discovery. Bitcoin was not strong enough to continue in the bull market, and instead, we saw a liquidity sweep, and it is currently experiencing a 27% crash from its peak. Bitcoin failed to sustain the black ascending channel (that you can see on the chart). What we want to see is a breakout above an ascending channel, then a retest of it, and then a continuation of the bull run. In Bitcoin's case, we did have a retest of the black channel in April, but recently the price went back to the channel, which is a strong sign of weakness. We have completed the Elliott wave impulse wave (12345). Waves 2 and 4 have both around 20% retracement. Bitcoin is definitely heading towards the 42k level. Why is this level so important? We need to take a look at the chart and draw a Fibonacci parallel channel. Always use significant points to draw it, such as the major swing high or peak of a bull market. In our case, we use the most important points: bull market peak (2021), bear market bottom (2022), and bull market peak (2024). We have a very nice-looking Fibonacci channel, and now we need to look for important levels. I always recommend using 0.618, 0.5, and 0.382. We also have 0.764 and 0.236, but these levels in general have a lower success bounce rate. 0.5 is not a Fibonacci number, but it's the middle of the ascending channel, which is logically a very strong dynamic level. The first major support is at 0.382 (around 42k) because we also have a POC (point of control) of the volume profile. Let me know what you think about my analysis in the comment section, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
BITSTAMP:BTCUSDLong
by Xanrox
118
XAUUSD continues its downtrend waiting for information from the 💵💵💵GOLD PRICE AND ECONOMIC INFORMATION Gold rose above $2,360 per ounce on Tuesday, recouping some losses from the previous session as investors turn their attention to Fed Chair Powell's semi-annual testimony before Congress. Last week's figures showed a softening labor market in the US, with the unemployment rate reaching a two-and-a-half-year high and wage growth falling to a three-year low, indicating impending early interest rate cuts by the US central bank. Currently, markets are pricing in a 77% probability of the Fed reducing interest rates in September, with another cut expected in December. Powell's testimony before the Senate today and the House on Wednesday will offer investors clearer signals on the future direction of the Fed's interest rate path. Investors also anticipate key upcoming inflation figures set to be released on Thursday. Elsewhere, traders are monitoring geopolitical developments in the Middle East amid prospects of a ceasefire deal between Israel and Hamas.. 🔴SELL GOLD: 2370 - 2372, SL: 2376 🟢BUY GOLD: 2343 - 2341, SL: 2337 ⛔️Breakout: top border 2370 -2378 - below 2350 - 2342 🔼Support: 2351 -2342 - 2335 🔽Resistance: 2370 -2378 - 2385 - 2395 GOOD LUCK EVERYONE👍
OANDA:XAUUSDShort
by Scalper_Ananda