AUBANK has broken 3.5 year old trendlineNSE:AUBANK has broken nearly 3.5 year old trendline today (in blue) and if this breakdown sustains then we should see 550 soon. Be cautious if you're long.
Trend Line Break
Mastering Trendlines: Navigating Bitcoin's VolatilityMastering Trendlines: Navigating Bitcoin's Volatility
In the ever-evolving world of cryptocurrency, Bitcoin stands as the pioneer, leading the charge in digital finance. However, its notorious price volatility can be a double-edged sword for traders and investors alike. To navigate these turbulent waters, one of the most effective tools at your disposal is the trendline. This simple, yet powerful technique in technical analysis can be your compass in the vast ocean of digital currency trading. Let's dive into the essence of trendlines and how you can use them to your advantage with Bitcoin.
Understanding Trendlines
At their core, trendlines are straight lines drawn on price charts to connect a series of prices. By identifying the direction and slope of these lines, traders can discern potential market trends, be they upward, downward, or sideways. The magic of trendlines lies in their simplicity and the profound insights they offer into market psychology and momentum.
Types of Trendlines
Uptrend Line : This bullish line connects a series of higher lows, indicating a growing demand for Bitcoin as traders are willing to buy at increasingly higher prices.
Downtrend Line : In contrast, this bearish line connects a series of lower highs, signaling a selling pressure on Bitcoin as traders are inclined to sell off their holdings at progressively lower prices.
Example of Uptrend
The Power of Support and Resistance
Trendlines can also highlight critical levels of support and resistance:
Support Trendlines suggest areas where prices find a floor, bouncing off these levels rather than breaking through them. For Bitcoin, a strong support trendline can indicate a good buying opportunity.
Resistance Trendlines point to ceilings where prices tend to peak and reverse. For traders, a resistance trendline nearing breach could signal a potential sell or a strategic point to go short.
Applying Trendlines to Bitcoin Trading
Bitcoin's price movements, marked by sharp rallies and corrections, make it a prime candidate for trendline analysis. Here's how to effectively apply this technique to Bitcoin trading:
Drawing Trendlines
Identify the Trend: Begin by observing Bitcoin's chart to determine the overall trend direction. Is it moving upwards, downwards, or sideways?
Select Key Points: For an uptrend, select the lowest lows; for a downtrend, pick the highest highs. These points will be the anchors of your trendline.
Draw the Line: Connect at least two key points with a straight line. The more points a trendline touches without breaking, the stronger it is considered.
Trading Strategies
Buying on Support: When Bitcoin's price approaches an uptrend line without breaking below it, consider this a potential buying opportunity. It suggests that the price is likely to bounce off the support and continue its ascent.
Example of buying at support
Selling on Resistance: Conversely, if Bitcoin's price nears a downtrend line but fails to break above, it might be time to sell or short, anticipating a price reversal.
Breakouts and Breakdowns: A price break through a trendline can signal a significant shift in market sentiment. A breakout above a downtrend line might indicate a bullish reversal, while a breakdown below an uptrend line could hint at bearish developments.
Advanced Tips
Volume Confirmation: Always look for volume confirmation when a trendline is broken. A breakout with high volume is more likely to signify a genuine shift in trend.
Combine with Other Indicators: For more robust analysis, use trendlines in conjunction with other technical indicators, such as moving averages or the Relative Strength Index (RSI).
Conclusion
Trendlines are a testament to the principle that simplicity often prevails in the complex world of trading. For Bitcoin enthusiasts, mastering this tool can enhance your ability to predict price movements and make informed decisions in the face of volatility. Remember, while trendlines provide valuable insights, they're most effective when used as part of a comprehensive trading strategy, combining technical analysis, fundamental analysis, and sound risk management practices. Embrace the power of trendlines, and let them guide you through the dynamic landscape of Bitcoin trading.
EGLDUSDT → Growth may resume after the correction stopsBINANCE:EGLDUSDT is trying to finish the technical phase of correction and continue the global uptrend amid the realization of 2-year accumulation.
Since the middle of last year, the coin was in hibernation, or rather in the consolidation phase. Formed a bottom, a narrow corridor allowed the formation of a strong support area. On the background of cryptocurrency market recovery, the growth of the flagship - bitcoin, EGLD revives, but at the same time forms trend resistance. On D2 the resistance is broken and for a few weeks the price forms a consolidation above the line, on H6 it is a descending range (correction).
On the main chart we see an attempt by price to break the correction resistance. Consolidation of price above 53.45 will form a bullish potential that could resume the uptrend.
Support levels: 53.45, 51.4, 47.11
Resistance levels: 60.1, 68.48
I expect the continuation of the global trend, but for this the bulls need to finish the correction phase, which is within the current descending channel. A breakout of the resistance and consolidation above this level will be a good signal
BINANCE:BTCUSD CRYPTOCAP:TOTAL
Regards R. Linda!
GOLD → Trading intra-range.. The price continues to stand stillFOREXCOM:XAUUSD has simply been standing still for months now. At least on D1 the range is narrowing and this could lead to something in the medium term.
The dollar is forming a correction after a false breakdown. Fundamentally, the index is strong and continues to be supported by US regulators. At 19:00 GMT Bowman FOMC speaks, it is worth paying attention to his comments.
Gold at 1 is still in a range. It is quite difficult to anchor an entry point to something because there are no safe zones to open orders inside such consolidation. The good news is that the range is narrowing and the denouement of the situation is approaching.
On H1, the price is inside the local range 2039 - 2016 and gold can continue trading inside this consolidation for quite a long time. The resistance was tested earlier, a retest is possible, but on a negative fundamental background and a strong dollar, gold may decline a bit.
Resistance levels: 2039, 2042, 2057
Support levels: 2029, 2016, 2004
A retest of the resistance is possible before a further decline within a range trading strategy. It is worth paying attention to the range 2039 - 2029. Breakout of the boundary and price consolidation above resistance or below support will form a signal for price movement in the corresponding direction.
COMEX:GC1! TVC:GOLD COMEX_MINI:MGC1! TVC:DXY
Regards R. Linda!
NZDUSD Symmetrical Triangle Pattern Breakout LongWe expect further upside on this pair, signalled by the symmetrical triangle pattern breakout. We can also see the breakout of a trendline and key level which further supports our directional basis.
GOLD → A retest of support will lead to a breakout FOREXCOM:XAUUSD under the influence of negative fundamental background is testing the support, from which it is forming the rebound we were waiting for. At this time the dollar is strongly strengthening and overcoming local boundaries.
On D1 the price of gold is testing the ascending support, a small rebound and a possible retest of the support may be a signal that the market is ready for further decline. There is no strong news today, several FOMC representatives will speak, but the outlook for inflation and rates is the same. On the XAU graphee, we should pay attention to the support at 2021 and 2016. A retest, price squeeze and pre-breakdown consolidations would indicate that the market is ready for a breakout of this zone for a further decline towards 2004. However, price may still test resistance at 2031, 2039 before further decline. Moving averages are trying to form another line crossover.
Resistance levels: 2028, 2031, 2039
Support levels: 2021, 2016, 2004
At the moment, the dollar is ready to grow further, except that a small correction may follow. But fundamentally, the outlook is the same. Gold in this case may break the nearest support and head towards 2000
TVC:GOLD COMEX:GC1! COMEX_MINI:MGC1! TVC:DXY
Regards R. Linda!
USDJPY (H4) Potential buying opportunities may emerge.USDJPY (H4) Potential buying opportunities may emerge.
Indicators that have manifested:
1. The current price range exhibits a narrow band in comparison to the preceding price surge, amounting to less than one-third of the prior increase.
2. The aforementioned resistance levels appear relatively feeble, given the brevity of the resistance duration.
The command can be executed as outlined below:
Buy Stop at 148.95
Stop Loss (SL) at 148.223
Take Profit 1 (TP1) at 150.657
Take Profit 2 (TP2) at 152.413
Note: Capital management 2%
Follow us and read my status to follow more forexsignal !
GOLD → Falling to a strong liquidity area. Retest of D1 supportFOREXCOM:XAUUSD has been losing ground since the opening of the session on the negative fundamental background, which has persisted since last week. The price continues trading inside the range.
On the high timeframe the price is declining towards the ascending support line, most likely this area will be tested in the near future. But, as this support plays a rather important role in the market, we should expect a rebound from it, as there is no clear trend in the market and the range trading strategy has the advantage at the moment.
On H1, the price has been declining since the opening of the session and is heading towards 2016, from this area, technically, a correction to the strong liquidity area of 2031 may follow. The retest of 2031 and the price reaction will show the further direction, but the prospect is that the fall from this resistance will continue with the target at 2004.
Resistance levels: 2031, 2039
Support levels: 2016.8, 2004
As long as the price is inside the range and there is no definite trend in the market, gold may continue to hang around in this channel, trading between the same levels. At the moment there are no such prerequisites, so, for the time being, we should focus on the continuation of trading inside the sideways channel
TVC:DXY COMEX:GC1! TVC:GOLD COMEX_MINI:MGC1!
Regards R. Linda!
Luncusdt / analyst The triangle pattern is visible and it seems that the downward trend line is broken, you can carefully enter a buying phase. According to Fibonacci, it can also grow up to the specified lines.
ESCORTS_05FEB2024Escorts Kubota ltd. reversal formed and strong pattern on charts reflects positivity.
🇺🇸 USDCAD 🇨🇦 - Growth of the pair along with the dollar indeUSDCAD may continue the growth phase within the local uptrend. The favorable background for the currency pair is the strong dollar, which is strengthening after last week's news. The pair may test the resistance and after a small correction continue the growth to the far target.
Reasons for further gains:
1) A strong dollar that continues to rise
2) Against this background, the Canadian dollar is weakening.
3) Uptrend
4) Som local resistance structure
DONT MISS THE BUY Title: Gold Buy Opportunity: Targeting 200 Pips Move with Strategic Entry and Exit Points
Description:
📈 Trade Setup: We've identified a promising buying opportunity for Gold with a target range set between 2030-2028. Keep a close eye on the extreme level at 2024-2022, as this marks a critical demand zone.
🎯 Target Profits: Our goal is to capture a 200 pips move, and we've pinpointed a potential H4 pullback around 2048-2050 as an opportune entry point.
📉 Risk Management: To mitigate risks, it's crucial to set stop-loss levels and closely monitor price action. Discipline and adherence to your trading strategy are key.
🔍 Technical Analysis: The analysis indicates a favorable setup, aligning with potential market trends. However, always remain vigilant to market changes and adapt your strategy accordingly.
Happy Trading! 🌐📈 #Gold #TradingOpportunity #TechnicalAnalysis #RiskManagement
Part 3: Multibagger 2024,this stock will blasted this year!NSE: Hathway (1M)
Good consolidation before this upside move
We'll may see it on the resistance in coming months as from 2 Yrs Media sector don't gave any momentum so This year may gonna be boom for media.
NOTE: We are not SEBI registered. It's for knowledge purpose only. Consult to your financial adviser before take any trade.
NZDUSD SHORT POSITIONThe ascending trend line has been broken and a bearish confirmation candle has also been formed.We are waiting for the continuation of the downward trend
My 5 potential trades for this weekTrend is long term bullish but currently bearish.
We are close to hitting bearish trend line.
Falling wedge with recent double bottom.
Multiple FVG’s to be filled.
All indicative of an impending reversal to initial direction.
1) long @ 1.07884 if $ & downtrend $ is swept
2) long @ 1.07225 if 4h $ & bullish $ is swept
3) long @ 1.08553 if OB & trend line $ is broken
using OB as breaker block to be rejected.
4) short @ 1.08553 if OB is rejected
5) short @ 1.09328 if FVG & 4h $ is rejected
being mindful of rejection off possible
breaker block and bearish trend line for
indication of reversal
LINK Finally LINK has broken out of the box after a long time.
Now we can plan for a long after retesting.
ADANI POWER will show POWER in Upcoming DaysADANI POWER will show POWER in Upcoming Days
Technically very strong
Fundamentally Neutral
GOLD → The sideways movement continues. What's going on?FOREXCOM:XAUUSD continues to be in global and local sideways movement, which is already annoying. The difficulty of trading lies in the fact that it is more difficult to identify strong zones to enter positions than in a trending market. It is allowed to trade from strong borders or zones, otherwise the market will simply tear up.
Technically, gold continues to push up to the 2048 resistance. After the false breakdown, there is no fall and we see that the price is slowly but approaching the boundary, but at the same time volumes continue to decline. Or, hidden accumulation of potential is formed and if the price continues slow approach to 2048.7 in the future, the level may be broken soon. But it is too early to say about it. The price makes a false breakdown of 2048.8 and on the retest makes it clear that bears are not letting up yet. On the background of the news, the price may head towards trend support, either from 2048.8 (after another retest), or after a break of 2040, as there are no local reasons for growth beyond 2048.8 at the moment.
Support levels: 2039.4, 2030.9, 2020.8
Resistance levels: 2048.8, 2058.3
There are still some important news ahead, most likely the market will not change much, except for some highly volatile movements, but in general the price will remain in a range, probably until tomorrow's NFP
TVC:DXY COMEX_MINI:MGC1! TVC:GOLD COMEX:GC1!
Regards R. Linda!
Gold continues to rise again, entry buy todayWorld gold prices increased slightly with spot gold increasing by 5.5 USD to 2,036.6 USD/ounce. Gold futures last traded at 2,055.5 USD/ounce, up 6.5 USD compared to yesterday morning.
World gold rose to a two-week high on Tuesday as it was supported by dollar weakness and lower Treasury yields while focus turned to the Federal Reserve's policy meeting. US State (Fed) to better understand how this agency will cut interest rates this year.
According to RJO Futures senior market strategist Daniel Pavilonis, much of gold's volatility is due to falling yields and the dollar being in the red. However, Pavilonis said that expectations about interest rate decisions also caused gold to increase.
The Fed's policy decision will be made on Wednesday. Markets are expecting the US Central Bank to leave interest rates unchanged at the end of the meeting. Pavilonis, the Fed said that, with the desire to have a stable market, the Fed may not conduct many interest rate cuts and Mr. Powell will also maintain a neutral attitude.
Data last week showed U.S. prices grew moderately in December, keeping annual inflation below 3% for the third straight month and potentially allowing the Fed to start cutting interest rates.
According to senior analyst Ricardo Evangelista at ActivTrades, the Fed's monetary policy stance is currently the most important driver of gold prices. He said that even the safe-haven appeal of precious metals cannot counter changing market expectations around central bank monetary policy.
According to this expert, the market's expectation that the Fed will actively cut interest rates could push gold to $2,200/ounce with an average annual price of up to $2,100/ounce.
EURUSD → Pre-break consolidation. Lots of news aheadFX:EURUSD is forming a trend change amid the strengthening of the TVC:DXY . Important news is expected today, which can affect the market in different ways.
On D1 we see the formation of a strong accumulation at the dollar index. Earlier and still the dollar index is supported by rather strong comments from the US regulators, which negatively affects the euro. The currency pair in turn breaks strong daily support and is gradually heading downwards. From a technical point of view, the fall may continue as the key area has not yet been tested. On the chart, it is clear that the 1.0700 area is an interesting zone at the moment.
Resistance levels: 1.083, 1.0887
Support levels: 1.082, 1.0724
On H4, support is formed, which restrains the market - 1.082. A breakout and price consolidation below the level could form a bearish momentum that could continue the trend. But, as there is a lot of news today, try to trade safely!
Regards R. Linda!
GBPJPY → False breakdown and obvious bearish pressure FX:GBPJPY is forming a false break of the resistance at 188.3 and is forming a consolidation, within which it can be seen that the market is under pressure from sellers.
On D1 we see the formation of the global range 188.3 - 179.9. The price is forging a retest of the resistance of the range in the format of a false breakdown. After that consolidation will be formed. So far it is difficult to call it a pre-breakdown consolidation, because on local timeframes the price movement is preparing for a price drop. Local highs are gradually decreasing and the probability of breaking through the base of consolidation - 187.38 level is increasing. In this case there is a probability of starting correction to 185.9, 184.3. Globally the market has no trend, because the price is in sideways movement, and locally it is still bullish, but when breaking through the base of 187.38, the market phase may change.
Resistance levels: 188.3, 190
Support levels: 187.37
Indices of GBP, JPY currencies are standing still, GBP looks more optimistic, but on the background of geopolitics it gives prerequisites for correction, which can negatively affect the currency pair.
Regards R. Linda!
XRPUSDT → A favorable prospect within the uptrendBINANCE:XRPUSDT is testing trend support after exiting the triangle. Traders' interest in Ripple continues to grow on the unstable fundamental background
On W1 we see a formed bottom, the bulls do not let the price to this area, continuing to cumulate the potential within the framework of gradually rising prices. An uptrend continues to form on the chart, but globally, Ripple is squeezed under strong trend resistance.
On D1, price is testing support and one of the key liquidity areas. There is a chance that price could still test 0.493 in a false breakout format before further upside, but even at current price positions, the market has good potential for further upside to 0.7325.
Support levels: 0.493, 0.420, trend support
Resistance levels: 0.585, 0.648, 0.7325
Since the price movement is limited by a number of reasons both fundamentally and technically by the range boundaries, it is highly likely that the XRP movement will continue from support to resistance
Regards R. Linda!
Short on US30 US30 has broken out to the downside of an ascending wedge with the trendline going back to the start of November with bearish RSI divergence. Entry on break of support and target at next resistance level @ 36300, I will also keep an eye out for a fib retrace level @ 34200. Happy trading.
