GBPUSD is in a downtrend in the short term with Weekly, Daily and 4H charts technical picture favoring the continuation of the move lower.
Strategy:
SELL at current levels and at any advance towards 1.3145-60
STOP LOSS above 1.3205
TP: 1.3085 or 1.3055-60
MULTITIME FRAME TECHNICAL PICTURE AND ANALYSIS
Weekly: Reversal Weekly Bar at double channel top
Daily:...
Bitcoin is currently trading in the support zone around the $58,000 range. This support level has been tested multiple times and has held strong each time.
For the bullish trend to continue, we need to see a clear reversal from this $58,000 zone. However, a breakdown from this support could push the price further down to the $54,000 range.
At this moment, it’s...
4H
Corrective approach towards entry zone.
-68 Fibonacci completion aligning with entry zone.
=Buy limit.
1% risk.
Aiming to take full profit at Daily TP.
4H
Corrective approach towards entry zone.
-27 Fibonacci completion aligning with entry zone.
= Instant market execution Buy.
1% risk.
Aiming to take full profit at Daily TP.
Traders,
As you all know, the SPY has been moving EXACTLY as anticipated by me the last two years. And that worries me. Don't get me wrong, I have thoroughly enjoy the profits that have come with getting it right, but what we have to be careful about when doing so well is over-confidence. Because if we don't take a couple of steps back and say to ourselves, "I...
4H
Corrective approach towards entry zone.
-27 Fibonacci completion aligning with entry zone.
= Buy limit.
Bullish M pattern also there as extra evidence.
0.5% risk.
Aiming to take full profit at Daily TP.
4H
Corrective approach towards entry zone .
-68 Fibonacci completion aligning with entry zone.
Ascending trend line holding up the price.
= Buy limit.
DXY makes sense for a Long as well.
1% risk.
#PEPE/USDT #Analysis
Description
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+ MEME has hit the support zone and recently formed a higher high.
+ A successful reversal is evident from the support zone.
+ The RSI is also indicating a reversal as it bounces from the <30 zone.
+ The next resistance may pose a challenge, but strong bullish...
#ENA/USDT #Analysis
Description
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+ The price has formed a channel and is currently trading within it.
+ A clear breakout from the channel could trigger a bullish trend.
+ A minor correction is expected before the trend reverses.
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...
Bank Nifty Opening Outlook:
Opening: Expected to be flat.
Upside Potential:
If Bank Nifty sustains above the 50,550 level, an upside rally up to 50,950 is anticipated.
Strong resistance is expected at the 51,000 level.
Downside Potential:
If Bank Nifty starts trading below the 50,450 level, a downside move of 400-500 points is possible.
The...
Key Components:
Chart Type and Pair:
The chart is a 1-hour (1H) timeframe for the Gold Spot/U.S. Dollar (XAU/USD) pair.
Support and Resistance Levels:
Horizontal Resistance Line at $2,446.18: This is labeled as "1HR LQZ" (1-hour liquidity zone), indicating a significant resistance level where price might face selling pressure.
Horizontal Support Line at...
#API3/USDT #Analysis
Description
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+ Price had significant retracement from 4.8 to 1.08 with -76% crash from recent high
+ it is trading around the local support zone and we are seeing significant retrace from the crash.
+ If this support holds then we can expect a sharp bounce back from the support...
Traders,
Just want to take a minute to focus on two items from my chart.
First, you will notice that yesterday we dropped from our bull flag and nearly re-tested my 48,415 neckline from that inverse head and shoulders pattern we have been tracking. I had stated in yesterday's video that I assumed we would re-test the neckline much sooner and that since we...
Here I have GBP/USD on the 1 Hr chart!
Price dipped down into the Support Zone that was recently used in the beginning of July making its Low @ 1.2707!
Afterwards, price came right back up to make an Equal High @ 1.28404 forming quite a popular Reversal Pattern, the Cup & Handle!!
Now this PA formed the "Bowl" and after the Equal High, using the Fib Retracement...
![BANKNIFTY: [INTRADAY] #BANKNIFTY PE & CE Levels(12/08/2024)](https://s3.tradingview.com/t/TeeePw9C_mid.png "[INTRADAY] #BANKNIFTY PE & CE Levels(12/08/2024)")
