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Ascending Channel

GOLD → A retest of resistance may push the price downward OANDA:XAUUSD is forming a retest of 1959.8 from the opening of the session, but the market is not ready yet. A rebound is being formed to retest the resistance area A review on the D1 timeframe gives us several indications that the market is still dominated by the bearish half. A global false breakout has been formed. Locally, the price is in consolidation between 1959.8 - 1970.2. The price is steamed up for a possible retest of the resistance area, since the uptrend was broken earlier, sell signals are forming on D1, the resistance area may push the price down further. It is acceptable to buy the insturment on a breakout of 1970.2, a false breakout of 1970.2, 1967 will form an entry point for selling. Support levels: 1959.8 Resistance levels: 1967, 1970.2 Situation is not easy. The price is heading for resistance (retest) after the trend break. Most likely the price will continue to fall from the resistance, but it is necessary to monitor the behavior of the price near this area. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
21
GBPAUD → False breakdown and upward movement to retestFX:GBPAUD continues to form a bullish trend, as the high timeframe tells us. The price makes a false breakdown of the moving average and returns to the range. The price has returned to the ascending price channel and may form a retest or consolidation above the support level in the nearest future. At the moment the price is squeezed within the flat 1.9184 and 1.9035. Most likely the price has the upper boundary of the range as a target. An intraday retest of resistance may follow for a breakout. Since we have an uptrend, a false breakout of support and MA-200, the market is ready to continue rising. Another breakout attempt at 1.9184 may be successful and the price may show active growth. Support levels: 1.9035, trend support Resistance levels: 1.9184 I expect a retest of resistance with a subsequent breakout. Medium-term target: 1.9393. Regards R. Linda!
Long
by RLinda
13
GOLD → False breakout 0.618. What should we prepare for? OANDA:XAUUSD on the daily timeframe shows an interesting situation, which can be confusing for those who set big targets for the price rally, which ended with a false break of resistance 1981.6 The price within two weeks is forming a strengthening , investors and whales were talking about big plans, but at the same time the dollar reversed to appreciation and this situation formed a false breakout of a key resistance level on the gold chart. Since at the moment the price is in the range of 1981 - 1935, most likely after the retest of resistance the price may go down to the support. Three bearish candles are formed, each new candle closing below the previous one. The chart gives us a strong bearish wave. In the coming week a lot of strong news is published and the market may be quite shaky. It is worth paying attention to: FOMC Statement Fed Interest Rate Decision FOMC Press Conference ECB Interest Rate Decision (eur) GDP Initial Jobless Claims Core PCE These speeches and press releases can give a medium-term view of the market behavior. The price tested 0.618 fibo and the market did not allow gold to pass this area. Consolidation is formed in the red zone, this fact can be interpreted as a readiness of the market to decline. Regards R. Linda!
OANDA:XAUUSD
by RLinda
22
Bitcoin - Secret pattern no one talks about! (insider info) This secret parallel channel on the LOG scale is very important for your trades because you want to take profits if the price reaches the top of the descending channel! This is a dynamic resistance, so the trendline changes over time, but currently the resistance is around 39K. 39K is a strong level not only because of this channel but also because of the 0.618 FIB retracement of the previous huge downtrend and the POC of the previous market structure (volume profile). This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately! What I expect is for Bitcoin to reach the 39K level and then make a significant correction. This correction should be pretty deep. Because we will be retracing the first Elliott impulse wave, the 0.618 FIB is a classic buy opportunity, and it's around 21k. After we reach 21K, I expect Bitcoin to pump heavily to the 69K all-time high resistance. This is indeed a strong level as well, so this could be the peak of the 3rd Elliott impulse wave. The 5th wave is expected to end around 100k–110k in 2025. This is my gameplan; I don't know what yours is, so let me know in the comment section right now! Set up notifications for my ideas so you will be alerted in your email when I publish new analyses immediately! You may say that 110k is not enough and that Bitcoin should do much more than that. Yeah, I agree with you, but we need to be realistic. Bitcoin is already pretty big and has a large market capitalization. What's more, on the chart, you can see the major parallel channel on the LOG scale that started in 2017, and I don't think the bulls want to make some crazy parabolic move above this channel! Thank you, and for more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
99
BTCUSD → Expected correction within consolidation BITSTAMP:BTCUSD forms a false breakdown of the key resistance after which the format of the movement passes into the correction phase. The price is consolidating between 0.236 and 0.382 fibo Paying attention to the chart we see the continuation of the ascending price channel formation. The price indicates a rather high interest on the part of buyers, as the price after long consolidations continues to strengthen and does not give deep corrections. A correction is forming within the new movement, which may reach 0.382 fibo in the near future. The rebound within the bullish trend can follow both from this level and from the level below - 28474. The trend at the moment is bullish, although recently the price has not reacted much on the hype around BTC-ETF, but the potential is still on the side of buyers. The hash rate continues to grow, glassnode in its reports claims that the price is coming out of the capitulation mode, SEC accepts applications of funds for spot BTC-ETFs for consideration - these nuances give some bullish prerequisites. Support levels: 0.382, 28474, 0.618. Resistance levels: 0.236, 30575 I expect the correction to continue, I don't think this movement will last long. Another retest of the nearest strong resistance will provoke a new impulse. In the medium term I expect a retest of 30575 and growth to 34000. Regards R. Linda!
BITSTAMP:BTCUSDLong
by RLinda
8
ETHUSD → Global ascending triangle. Retest 2020BINANCE:ETHUSDT is forming an interesting situation. For more than a year the price has been trading under the strong resistance of 2020. After a while we begin to realize that this level is the upper boundary of the ascending triangle. This pattern can be interpreted as consolidation of potential by dynamic buyers with the purpose of possible overcoming the resistance and reaching new tops. A symmetrical triangle has been forming for several months as well. The price is in consolidation and on the background of bitcoin correction the price may form a decline to the support of the pattern. MA-200 clearly outlines the ascending support of the bullish triangle, which only strengthens the essence of this formation. In the medium term, the price may either make a false breakdown of the local support line or decline and retest the MA-200 and trend support. The further target is growth with the aim of breaking through 2020 and strengthening to 2450. Support levels: 1875, 1830, 1800 Resistance levels: 1938, 2000, 2020 I expect the correction to continue to the nearest support levels from which a reversal and resistance retest may follow. Regards R. Linda!
Long
by RLinda
6
GOLD → Dollar allows gold to break trend support OANDA:XAUUSD is weakening while the dollar is starting to strengthen. The only fundamental factor affecting this is inflation, which the FOMC is still trying to combat XAUUSD is breaking uptrend support and forming a retest of flat support at 1959. There is a key liquidity zone below this boundary that could become interesting for the market, and price is likely to enter this zone on the backdrop of what is happening. If the price fails to reach this mark on a retest of 1959, a rebound will begin to form, which could reach one of the key areas of resistance before a further (possible) fall as part of a counter-trend correction. On D1, price is forming a false resistance breakout and on H1, an H&S is forming which hints at a possible decline. Within the flat market, 1935 level may be interesting (but it is not accurate). MA-50 is resistance and MA-200 is support, which may be tested in the near future Resistance levels: 1965, 0.236, 0.382 Fibo Support levels: 1959,8 I expect a correction to resistance for a possible retest, followed by a fall to flat support and the possibility of further declines. Regards, R. Linda!
OANDA:XAUUSDShort
by RLinda
21
GBPUSD → A FB and a retest of 0.618 could send the price to 1.26FX:GBPUSD forms a false breakdown of a strong resistance area. A downward correction is formed against the background of local strengthening of the dollar index On the chart, the currency pair retests the key support line at 1.2848. A pre-breakdown consolidation is formed against the background of correction. The price overcomes the area of 0.5 Fibo and is directed to test 0.618. If the currency pair breaks 1.28000, the correction format will turn into a change of trend and the price may fall to 1.26000 within the upward price range. Regarding 1.2848 there are two possible scenarios, a false breakout with subsequent growth to 1.3000. Or breakout and price entry to 1.2848-1.26800. In this case our target will be the support. MA-50 acts as resistance, while MA-200 is preparing to take a retest from the price Resistance levels: 0.5 fibo, 1.2965 Support levels: 1.2848, 0.618 fibo. I expect the formation of pre-breakdown consolidation and possible breakout with further price decline to 1.26800. Regards R. Linda!
Short
by RLinda
9
🥇 GOLD - A pre-breakdown consolidation is forming Gold after a false breakdown on July 18 forms a pullback and tests the local support of 1972. After the false breakdown, against the basic stereotypes, the price retraces to retest the resistance. TA on the high timeframe: 1) Closing of the last two daily candles forms near range resistance. There is no downside after the false breakout 2) Price forms a liquids area below support and forms an impulse TA on the low timeframe: 1) A pre-breakout consolidation is forming near channel resistance and 1984. 2) The trend is bullish and most likely the growth may continue in the near term 3) A break of the resistance will send the price to 1999. Key support📉: 1978, 1972,2 Key resistance📈: 1984, trend resistance
OANDA:XAUUSDLong
by AndeWave
10
GOLD → Correction after the LH update. Growth may continue OANDA:XAUUSD continues to execute active movements in the direction of price strengthening. This time the price is testing the resistance 1987.5, which indicates a high bullish potential and a strong trend The price is forming a correction after the impulse. In the zone of interest we have the level of 1981. The price is testing the support and if the market can hold this area, the price will head towards 1993 in the nearest future. A false breakdown scenario is possible and in this case the price will go to the support of 1970 before further growth. On the background of weakening dollar and news about weak inflation, the price of dollar is falling, which positively affects the price of gold. In the future, after fixing the price above 1981.7, such targets as 1993 and 2000. Support levels: 1978, 1970 Resistance levels: 1981.7 At the moment the key role is played by the level of 1981.7. The price may continue to test the area for a breakout in the near future, or make a rebound, but on the subsequent retest of 1981.7 the level may be broken and the price will show an impulse to 1993 Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
25
🥇GOLD - Resistance Retest. Correction to 1972-1963Gold is testing a strong resistance area that could push the price back quite a bit. If the price shows strength against the bears and signals further upside, we will take advantage of it TA on the high timeframe: 1) Price is testing the global flat resistance. A rebound from the resistance is possible 2) The bullish trend is resuming 3) At the same time candlestick analysis suggests the continuation of growth TA on the low timeframe: 1) Price forms a retest of the uptrend resistance. 2) After a false breakdown, consolidation under the level is formed. 3) The closest support that price can aim for is 1972. This could then be trend support 4) Price returning to trend resistance or to 1984 for a retest will signal a breakout and a continuation up to 1999. Key support📉: 1972, 1963 Key resistance📈: 1980, 1984
OANDA:XAUUSDShort
by AndeWave
13
💱EURJPY - Breaking through resistance offers new potential EURJPY is forming a flat. The wide range allows to accumulate enough liquidity before a further surge in the impulse format. TA on the high timeframe: 1) False break of support 154 forms a strong momentum that breaks several local resistances 2) Price passes the key liquidity area of 155-156 and aims for 158 TA on the low timeframe: 1) A break of 156.789 gives new potential for the price 2) Locally we have a bullish trend. Consolidation above 156.789 will give a good entry point for buying. 3) In terms of outlook, I expect growth from 156.789 to the nearest liquidity zone Key support📉: 156.789 Key resistance📈: 157.93
Long
by AndeWave
5
GOLD → A temporary respite after a high jump OANDA:XAUUSD continues to form a bullish trend, indicating strong interest in the market. The strong rally is moving into a narrow consolidation, which may hint at certain implications Yesterday we saw a breakout of the local consolidation and a gorgeous 200 pips momentum. The price is testing the resistance at 1981.7 and forming a 110 pips wide fljt. Gold may test the support and start strengthening again or form a consolidation near 1981.8. At the moment, since there is a strong trend, we should consider either a rebound from 1970 or a breakout of 1981. The growth may continue and the price may test 1993 soon. The moving averages indicate a strong bullish trend. The daily timeframe is forming a candlestick that gives a prerequisite for a breakout of 1981 in the near future. Support levels: 1975, 1970 Resistance levels: 1981.8 I expect consolidation with the subsequent breakout of 1981.7. In the long term I expect growth to 1993 and 2000. Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
28
EURAUD → A shake-up could provide bullish momentumFX:EURAUD in the format of local uptrend forms an interesting set-up of two false breakouts and pre-breakout consolidation after market clearing. Growth may continue. The shakeout in May and mid-June cleared the market of a lot of crowds with their bids and increases the market maker's liquidity. A third approach to resistance and a third premise for price to break out of the range could be true. Price is forming a sideways range of 1.654 - 1.626. Within the flat range, price is forming a pre-breakout consolidation near resistance. The euro is recovering and most likely will try to break the mentioned level. The moving averages act as a strong support, especially MA-200, which outlines the support of the ascending channel. Resistance levels: 1.654, upper boundary of the channel Support levels: 1.646 I expect a resistance retest followed by a breakout. Strengthening of the currency pair may continue. Medium-term outlook 1.6786 Regards R. Linda!
Long
by RLinda
13
Bitcoin - Pump to 39k! But then, crash to 21k (juicy) We have had a lot of bullish news in recent days, and that's why Bitcoin is going to reach up to 39k this summer, but do not be too excited because I am expecting a huge crash to 21k later this year! 39K is an extremely strong resistance for the bulls, mainly because of the 0.618 FIB retracement and point of control of the previous market structure. Also during the downtrend in 2022, the price created an unfilled fair value gap, which acts as resistance as well. We can fill this gap and start a major downtrend. This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately. At this moment, Bitcoin is inside an ascending parallel channel on the daily chart and has touched the trendline three times. 3 touches is a lot; it basically failed to make a parabolic move, so I expect this trendline to breakdown this year and start a downtrend! What could be the price target for the upcoming downtrend? We still have an unfilled CME GAP at 21110, which is a magnet. All CME gaps on Bitcoin were always filled, and there is a 100% historical probability of going down and filling them! Set up notifications for my ideas so you will be alerted in your email when I publish new analyses immediately! From the Elliott Wave perspective, this uptrend from 15k to the current price of 30k looks impulsive. It has a good angle, and there are totally no overlaps on the line chart, even though there is a small overlap on the candlestick chart. I market it as an impulse wave 12345, and we still have room to go up to finish the 5th wave. Look at my previous idea about "XRP" in the related section down below; it's very important! That's all for today. It's possible for Bitcoin to go down in the short term, but I am pretty bullish, and 39 is expected this summer. 95% of my trades are done on altcoins, and Bitcoin has been going sideways for almost a month. The volatility is low, and where there is no volatility, there is no opportunity. Thank you, and for more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
146
GOLD → Support shake-up followed by resistance retest OANDA:XAUUSD is forming a shake-out of consolidation support. Thus, after the retest of the previously broken boundary (as I talked about yesterday) there is a consolidation and resistance retest that could lead to a breakout and rise to 2000. Gold is testing the support area, forming a liquidity grab and thereby increasing the potential for the upside to continue. Earlier, the price confirmed the break of the bearish trend. Yesterday's retest of the previously broken boundary is another confirmation of the fact that at the moment the bullish trend prevails in the market and in our case we should look for either strong support to buy or resistance to trade with the "breakout" strategy. Against the backdrop of correction and falling dollar, gold is feeling good confidence. A breakout of the 1962 consolidation resistance will give a new breath to the market. The moving averages are acting as support. Resistance levels: 1962 Support levels: 1959, 1954 I expect a break of resistance either now or after another retest with subsequent growth. Medium-term outlook 1970, 1981, 2000. Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
11
🥇GOLD - Forming a breakout pattern and growth continuationGold amid a rally halt after a breakout of the global downtrend forms a pattern of breakout and continued upside. TA on the high timeframe: 1) After the breakout and trend change, the price stops and forms consolidation. The absence of a fall will be regarded as the readiness of the market to continue growth 2) Consolidation is formed near 1960 TA on the low timeframe: 1) against the background of stopping the rally, the price forms a flag 2) The bullish pattern will start its realization after the price breaks the resistance of the figures. In this case the instrument will get a new potential 3) The important zone for us is 1959-1963. The price going beyond it can form an impulse of 1% and reach the area of 1980 Key support📉: 1953 Key resistance📈: 1959, 1963
OANDA:XAUUSDLong
by AndeWave
25
🥇GOLD - Stopping can lead to corrections and declinesGold stops after an active rally. The price is testing 1963 and forming a double top. Consolidation after resistance breakout may lead to correction. TA on the high timeframe: 1) Gold is still unable to pass through the resistance of 1963, a bearish candle and a stop is formed on D1. The candle closes below the opening of the previous candle. 2) Price stops after the rally. The next phase begins and the price may form a correction TA on the low timeframe: 1) gold is up between 1963 and 1953. The range formed is holding back the price. 2) The potential accumulated earlier can push the price up even further, but it should be realized that gold will not grow continuously. A pullback and trapping a certain part of traders is needed 3) The priority is to expect a pullback before further strengthening Key support📉: 1953, 1949, 1938 Key resistance📈: 1963
OANDA:XAUUSDShort
by AndeWave
9
GOLD → Active strengthening, retest of a previously broken lineOANDA:XAUUSD has been strengthening during the last two weeks. The signal for this was a false break of support 1907, formed back in March 2022. The price is approaching strong resistance and its growth is starting to slow down. What's next? Gold is strengthening towards the 1963-1965 area, with a key resistance line close by, which is the previously broken trend support. On Friday, gold draws a false break of one of the local resistances and forms a bearish candle. The session in the first half of the week could be bearish, but for now there are signs that the upside will continue. Although the Fed is still aggressive, but their policy is not considered as tough as before among traders, speculators and investors. The dollar has weakened quite a bit and continues to fall. The index has broken through a key support area and has entered a range within which it could fall to 95 and even 90, which would be a strong enough momentum for gold to strengthen further to 2000, 2050 and even 2100. There are several important news releases this week and it is worth paying attention to expectations and the general fundamental background before they are released, as harsh statements can have a strong impact on the price. From a technical analysis point of view, a strong resistance may be followed by a technical pullback before a further rise. Globally, the situation is neutral and looks even more bearish than bullish, but against the backdrop of the dollar may draw some conclusions. Regards R. Linda!
OANDA:XAUUSD
by RLinda
15