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Trend Line Break

$SPY tough spot right now, but there's still a glimmer of hope!On the daily chart, there are three bearish signals without even considering indicators: 1. Price is below the EMAs. 2. With a gap down. 3. From a coil spring. On the weekly chart, the trend remains intact. However, if we drop below the fast EMA, a significant test will be the slow EMA. The key level to watch is the low of the daily channel line at $554, which aligns with the weekly slow EMA at approximately $551. For me, that represents the definitive line in the sand for SPY.
AMEX:SPY
by WavesInvesting
EURJPY → Buyer pressure is mounting. Pre-breakout consolidationFX:EURJPY is forming quite an interesting situation on the background of inaction of the Japanese Central Bank (weakening of JPY exchange rate) as well as strengthening of EUR. The currency pair has been in the realization phase for more than a week. Based on the general assumptions, we can assume that this is not the end and the growth may continue. An ascending triangle is being formed on H1 (pre-breakout consolidation) against the resistance at 166.065. Accordingly, this level is a trigger. Within the general technical and fundamental environment, we can conclude that the currency pair is preparing for the continuation of growth. If the bulls are able to overcome 166.06 and keep the defense above this zone, we should expect the continuation of the growth in the short and medium term. Resistance levels: 166.06, 166 Support levels: 165.68, 165.14, 164.95 The trend is bullish, buyers are actively defending the trend support. All market pressure is focused on the resistance. A break of the level may provoke a strong upward impulse Rate, share your opinion and questions, let's discuss what's going on with ★ FX:EURJPY ;) Regards R. Linda!
Long
by RLinda
4
GOLD → ATH Retest. Next $2800 or reversal? FX:XAUUSD is going to 2800 or??? The price is testing the ATH and does not show signs of reversal. A pre-breakdown consolidation is forming around 2758. Will there be another update of the highs? Traders remain cautious ahead of Thursday's PCE release followed by jobless claims and NFP. Profit-taking risks are increasing in both DXY and gold. It all depends on pre-news sentiment (background) as well as actual data. The overall environment is complicated due to the US presidential race. Gold is supported by the Middle East conflict, as well as hopes for more stimulus in the Chinese markets and economy. Technically, gold is returning to the ATH, forming a pre-breakdown consolidation, hinting that there may be breakout attempts for further gains. Accordingly, as we are testing the ATH, we need to be ready for all eventualities! Resistance levels: 2758, 2775 Support levels: 2745, 2728, 2724 Price has been in consolidation near resistance 2758 for the last 8 hours. It is gaining potential. Consequently: 1) If there will be an attempt to break through 2758 with the subsequent holding of the defense by the bulls above this area, then in the short term we should count on the continuation of growth to 2775-2800 2) IF a false breakout is formed and the price comes back down, forms consolidation below 2745, then further gold may go down to support before further growth. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
17
WLD → The bottom in the coin is formed. Readiness... BINANCE:WLDUSDT is confidently trading within the ascending channel. Bulls are aggressively guarding the area of ascending support. At the moment, the price is changing the local market structure into a bullish one, which may become a prerequisite for further growth The focus is on the 2.053 zone, which divides the market plane into bullish and bearish. After forming a rebound and consolidation, the price breaks the resistance and tries to consolidate above the level, which, at the moment, is already acting as support. If the bulls are able to hold their defenses above this area, the coin can easily reach the mentioned targets on the background of the rising bitcoin, which can have a favorable impact. Support levels: 2.053, 1.883, 1.787 Resistance levels: 2.325, 2.533 Technically, we have a bullish trend and resistance breakout, which can be considered as a buyer's willingness to go higher. Accordingly, the strong zone of 2.053 may provide strong support for the price Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:WLDUSDT ;) Regards R. Linda!
Long
by RLinda
2
GOLD → Consolidation amid a bull run. What to expect?FX:XAUUSD is forming a sideways range of 2758 - 2713. Relatively strong support is forming to confirm the buyer's intentions, and the fundamental background is still favorable for the ATH retest The dollar continues to rise on the back of a less aggressive easing cycle from the Fed, as well as the upcoming US election. In general, this is a negative leverage against gold. BUT. The decline in the gold price remains limited due to renewed expectations of additional stimulus measures in China, as the largest gold consumer in the world, and the situation in the Middle East, where there is no hint of de-escalation of the situation. The situation, technically, is simple. Trade inside the range and exclusively from strong levels. A possible retest of the range boundary, post facto, will determine the future prospects. Resistance levels: 2745, 2758 Support levels: 2728-2724, 2713 Bounces or false breakdowns may be formed against the boundaries, as gold is flat. Another retest of resistance may lead to a breakout and growth towards ATH. It can also happen after the support retest before further growth Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
13
NZDJPY → Consolidation before breakout and distributionFX:NZDJPY is forming a pre-breakdown consolidation amid the weakening of the Japanese national currency. There is a chance to get out of the accumulation... The potential, if the bulls hold the victory and go outside the channel, is quite high. Above 92.00 there is a free way to 94.4 - 98.87, there is no resistance that can prevent the movement. BUT, for this to happen, the buyers need to be able to utilize their potential. On H4, a global range of 91.9 - 86.5 is forming. But, more remarkable is that a strong consolidation is forming near the upper boundary of the channel, hinting at a possible upside realization. Resistance levels: 91.975 Support levels: 90.788, 90.03 Technically, there is no pullback at all from the resistance at 91.97. Accumulation before distribution is forming. A break of 91.97, which may happen soon, may trigger a strong bullish momentum Rate, share your opinion and questions, let's discuss what's going on with ★ FX:NZDJPY ;) Regards R. Linda!
Long
by RLinda
9
GBPJPY → Buyers increase positions to break 195.5 ↑FX:GBPJPY continues to climb purposefully towards 195.5, forming a consolidation in the form of an ascending triangle. The goal of this maneuver is to break the resistance with further continuation of the upward movement... The bulls are trying to keep the defense above the key support at 193.5. The change of the fundamental background for JPY strengthens the sales of the national currency, which favorably affects, in our case, GBP. As a consequence, the market starts testing 195.5 with the aim of a breakout. GDP in UK remained at the same level of 0.2%. There is important news ahead - PPI. Based on the previous economic data, we can assume that PPI will also support the dollar, which will negatively affect the JPY. On the background of this influence, the bulls will be able to overcome the key resistance. Support levels: 193.5, 191.7, 190.0 Resistance levels: 195.5 The acutal situation on the chart is directed towards the continuation of the movement. The market structure is changing, the fundamental background is on the side of the buyer. We are waiting for the breakthrough of the key resistance (trigger) and the continuation of growth... Rate, share your opinion and questions, let's discuss what's going on with ★ FX:GBPJPY ;) Regards R. Linda!
Long
by RLinda
8
Ethereum (ETH/USD) Approaching Key Support Levels In the 4-hour chart, Ethereum's price is moving within a converging pattern, with the recent bounce off a key ascending trendline support around $2,373. This area has served as a significant support level previously, preventing further declines. Currently, ETH is trading near $2,501 and faces immediate resistance from the 20, 50, and 100 EMAs (Exponential Moving Averages), particularly around $2,550. Key Observations: Ascending Trendline Support : The trendline has consistently held Ethereum’s price, indicating strong buying interest near this level. A break below could lead to further downside toward the next support zone around $2,200. Resistance Zones: ETH faces notable resistance between $2,661 and $2,750, marked by a horizontal red zone. This area aligns with previous swing highs and the 200 EMA, making it a key level to watch for potential upside. RSI Divergence: The RSI (Relative Strength Index) shows a bullish divergence, suggesting that selling momentum is weakening. This could indicate a possible reversal if price action aligns with a breakout from immediate resistance. Volume Analysis : Volume levels have been relatively stable, but any increase in buying volume near current levels could strengthen the potential for a breakout toward the resistance levels. Conclusion: Ethereum is at a critical juncture between ascending support and overhead resistance. If bulls manage to push the price above $2,661, it may open doors to test $2,750 or even higher. However, failure to hold the $2,373 support could result in further downside toward $2,200. Traders should watch volume and RSI for confirmation signals.
BITSTAMP:ETHUSDLong
by AngshumanSaikia
Bitcoin - Now Is The Time For A Breakout!Bitcoin ( BITSTAMP:BTCUSD ) will exit the consolidation now: Click chart above to see the detailed analysis👆🏻 The only factor which is really driving the price of Bitcoin is technical analysis. And everything is pointing towards a bullish breakout above the preivous all time high and significant follow through. Make sure you somehow participate in the bullrun, either with altcoins or Bitcoin. Levels to watch: $70.000, $100.000 Keep your long term vision, Philip (BasicTrading)
BITSTAMP:BTCUSDLong
by basictradingtv
16
EURGBP → Attempting to break through the resistance.FX:EURGBP is breaking wedge resistance and consolidation resistance after prolonged consolidation. The reason is the change of the local euro rate. If the bulls are able to keep the defense above 0.8346, then in perspective the currency pair will be able to move into the realization phase, which will allow the price to reach 0.838 - 0.842. The fundamental background for both countries is similar. The general course of interest rates reduction and dependence on the growing dollar. But the local sentiment allows pointing to a more positive mood among those willing to buy EUR. Resistance levels: 0.8346, 0.8384, 0.842 Support levels: 0.8316 The price is in the risk zone, where there is a struggle between the participants. The focus is on the buyer. If he can consolidate his positions above the previously broken wedge resistance, then above the consolidation resistance at 0.8346, it will be the beginning of realization. Regards R. Linda!
Long
by RLinda
5
GOLD → Bullish flat (consolidation). News aheadFX:XAUUSD corrects to 2713, confirming strong support. We talked to you about the risks yesterday. Bulls have been actively buying the metal since the start of the Asian session, hinting at strong support... Further gains in gold remain dependent on the upcoming PMI and jobless claims data. Traders are awaiting information on the state of the global economy, which will influence the short- to medium-term strategy against the dollar and gold... Market nervousness ahead of key reports in the US and the presidential election will also play a role. Any potential decline in the gold price is likely to be contained for several reasons: the BRICS summit, the US elections, the ongoing Middle East conflict. In this case, gold acts as a safe haven. Resistance levels: 2748, 2758, 2775 Support levels: 2729, 2713 ATH may be tested in the near future. Further news and high volatility, high risks may provoke profit-taking, which may bring gold back to support. And after correction the growth may resume due to strong enough interest from buyers.... Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
6
EURUSD → Is a 300 pips drop not the limit? What's next?FX:EURUSD reaches an important target. As part of the realization, the price passes 300 pips. The fundamental background for further rate cuts is generally favorable The strengthening economy in the U.S. combined with a growing dollar (extreme rally of the index), the rate of interest rate cuts in Europe are doing their job. The fundamental background for the currency pair is weak, accordingly, in relation to this situation, in the medium term it is worth considering the continuation of the decline. The price reaches 1.078 - the liquidity zone. The pool of liquidity below this zone can push the price away, forming a correction to the imbalance zone, or to the local maximum, from which we can further consider the continuation of the fall. Resistance levels: 1.085, 1.087 Support levels: 1.078, 1.067 The last time the level was tested in early August. This fact in tandem with an aggressive fall of 3% may form a rebound due to the lack of technical potential to break the support level. Consolidation or correction may allow the market to accumulate strength... Rate, share your opinion and questions, let's discuss what's going on with ★ FX:EURUSD ;) Regards R. Linda!
Short
by RLinda
9
USDJPY → Attempting a trend change. Retest 149.0FX:USDJPY is testing range resistance in the rally phase caused by Friday's news - strong NFP report. The fundamental backdrop within the short-to-medium term is set... From the opening of the session a small correction is forming, the aim of which may be a retest of the support or imbalance zone and consolidation of energy before a further breakout. The market structure is locally bullish on the background of the dollar growth. The Japanese authorities are still silent about their actions to strengthen the national currency (either they think about it or don't think about it :) ), so traders are increasing JPY sales in order to buy USD. The first retest of the resistance at 149.4 failed (bounce). Emphasis on 0.5 fibo or 147.2 support from which the growth may resume... Resistance levels: 147.38 Support levels: 147.5, 147.2, 146.15 On the chart there are preconditions for the change of the local trend to a bullish one, the fundamental background is favorable for this. If the bulls will keep the defense above the support and continue to test the resistance with a breakdown target, then in the short-term-senior perspective we can catch the forging of the impulse to 152.0. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:USDJPY ;) Regards R. Linda!
Long
by RLinda
8
GOLD → Realization continues, risks increase!FX:XAUUSD is at its highs. The price continues to rally and update the highs from the opening of the session on Monday. No selling, but buying should be cautious! Traders are waiting for the Fed officials to speak in the nearest future. The main issues are inflation, interest rate cuts and the US economy. Optimism about Chinese stimulus, as well as ongoing tensions between Israel and Iran are supporting gold prices (In times of geopolitical turmoil, investors prefer to rush to traditional safe-haven gold prices) With each passing day, the impact of the US election race is appearing more and more. The probability of a Trump victory is rising. Trump's fiscal and trade policies are seen as inflationary and positive for the US dollar Resistance levels: 2736, 2750 Support levels: 2732, 2724, 2713 There is no news in the next few days, the fundamnetal background remains the same, so gold may continue to rise. The focus is on the nearest support zones for realization of purchases. At the moment the range 2736 - 2724 is formed Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) With Respect R. Linda!
FX:XAUUSDLong
by RLinda
13
NZDJPY → Pre-breakdown consolidation. Preparing for a rallyFX:NZDJPY is forming consolidation near resistance after retest and false breakdown. On the back of JPY decline, NZD may show upside... There is no proper price reaction to range resistance. Consolidation in the format of a descending wedge, a rather strong pattern capable of forming strong movements, is being formed. The Japanese national currency continues to update lows amid the calm of the central bank of Japan, which is waiting for something because of the rally in the dollar, as well as economic data from the United States. Any strong comments could restart the rally in the JPY, so the risk of a shakeout is quite high. But at the moment the chart is hinting at a possible upside... Resistance levels: 91.362, 91968 Support levels: 90.056 The price stops moving away from the wedge resistance at some point, forming a 12-16 hour consolidation. Most likely there will be a breakout attempt. If the bulls keep the defense above 91.0, we can catch a good upward rally in the mid term Rate, share your opinion and questions, let's discuss what's going on with ★ FX:NZDJPY ;) Regards R. Linda!
Long
by RLinda
7
Bullish Shark Pattern on NZDUSD M15 ChartI love trading sideways consolidation breakout trades, but since I missed the initial move, I've been patiently waiting for a retest. Now, an even better opportunity has presented itself! What's Happening? - Bullish Shark Pattern : A Bullish Shark Pattern is forming on the M15 (15-minute) chart at 0.6046 on the NZDUSD. Why is this Exciting? - Combo Trade Management : This setup allows for a combination of strategies that can significantly reduce initial risk while increasing potential returns. How to Approach This Trade? 1. Wait for Confirmation : I'll be waiting for a Magic Candle Confirmation at the pattern completion point before entering the trade. 2. Risk Management : Include our stop-loss buffer just below the pattern completion to manage risk effectively. 3. Potential Upside : With the pattern forming and the potential retest, this setup could offer a great risk-to-reward ratio. Final Thoughts Sometimes, missing an initial trade isn't a setback but an opportunity to find an even better setup. Patience pays off! 🎯 What’s your take on this NZDUSD setup? Have you spotted similar opportunities? Share your thoughts and let's discuss! Happy trading, everyone! 🚀
Long
by RaynLim
GOLD → 2685 breakout trigger. News ahead. A new conflict! FX:XAUUSD stops correlating with the dollar. The price is testing the key resistance at 2685. Bulls continue to test this area and accumulate the potential for a breakout attempt. Important news on jobless claims and retail sales are ahead China's economic problems have a negative impact on gold as the country is the world's top gold consumer. At the same time, markets are resorting to profit taking on long USD positions ahead of the release of the most important economic data - the US retail sales report. BUT! Another escalation, but in another part of the world: North Korea has declared South Korea an enemy and completely cut off transportation links with it. The markets are clearly not going to let this fact pass their ears..... Technically, the buyers do not retreat from their intentions and continue to test the resistance with a breakdown target. A pre-breakdown consolidation and several possible scenarios are forming, no matter how many people don't like it. Resistance levels: 2685 Support levels: 2674.5, 2665, 2658 A breakdown of resistance will trigger an impulse, and this is a logical scenario based on the technical situation on H1 (ascending triangle, accumulation and compression to the level). BUT! The news can have an unpredictable impact. If gold forms a false breakout and goes back to 2674, having updated this low, the price may go even lower (to 2665, 2658), for liquidity, before returning to the way north Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
32