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Harmonic Patterns

USD/JPYThe pattern has **four points**: A, B, C, and D, forming two legs: **AB and CD**, which are equal in length and time. There are two types: * **Bullish AB=CD**: Signals a potential reversal to the upside. * **Bearish AB=CD**: Signals a potential reversal to the downside. Fibonacci Guidelines: * The length of AB should be approximately equal to CD. * The time it takes for price to move from A to B should be similar to C to D. * The retracement BC is often: * 61.8% or 78.6% of AB * The projection CD is: * 127.2% or 161.8% of BC
Long
by B9A-88652-NisarAhmad
Applying technical analysis in multiple time frames: $GPRA Monthly • Trend and momentum using Joe Rabil Method: - Step 1 and Step 2 are formed – Mapping (Step 3) - Watch if MACD can stay above 0 line Weekly • Trend and momentum using Joe Rabil Method: - Step 1, Step 2 and Step 3 are formed (presumptive uptrend); unfortunately, price cannot close above Step 3!! - 18MA is already cupping around – early sign of change in trend • Harmonic Pattern: Mapping (Bearish Gartley) • Elliot Wave: Mapping 12-(345) OR AB-(C) Daily • Trend and momentum using Joe Rabil Method: - Step 1, Step 2 and Step 3 are formed (presumptive uptrend) - 18MA has crossed 40MA and both are rising + MACD is up – trend confirmation - Watch if both MA can rise in the same direction with good separation 10M • To be watched: price action, MA and if MACD can make 0-line reversal if it is down to 0 line.
IDX:GPRA
by ysjahrial
Gold (XAU/USD) Long Setup: Capitalizing on Key Support LevelsThis setup is based on a combination of technical indicators and key support levels, which suggest a potential bullish movement in the near future. Chart Analysis: Price Action: The price of gold has been consolidating around the $3,230 level, forming a potential support zone. This consolidation phase often precedes a breakout, and we are looking for a bullish breakout from this range. Volume: The volume indicator shows a decrease in selling pressure, which is a positive sign. Increased volume on upward price movements would confirm the bullish sentiment. RSI (Relative Strength Index): The RSI is currently hovering around the 50 level, indicating a neutral momentum. However, a break above 50 would signal bullish momentum, and we are looking for a move towards the overbought zone (above 70). MACD (Moving Average Convergence Divergence): The MACD line is approaching a bullish crossover with the signal line, which is a strong indication of a potential upward trend. The histogram is also showing positive divergence, adding to the bullish case. Support and Resistance Levels: Key support levels are marked at $3,187.75 and $3,236.44. A break above these levels would confirm the bullish setup. Resistance levels are at $3,310.55 and $3,379.27, which could act as targets for the long position. Trade Setup: Entry: Look for a bullish breakout above the $3,236.44 support level. Stop Loss: Place a stop loss below the recent low at $3,187.75. Target: Aim for the resistance levels at $3,310.55 and $3,379.27. I invite all traders to share their thoughts and insights on this setup. Your feedback and additional analysis can help refine this strategy and improve our collective understanding of the market. Let's discuss the potential outcomes and any additional indicators or patterns that could support or contradict this setup. Don't forget to follow me for more detailed analyses and trade setups. Together, we can navigate the markets and capitalize on profitable opportunities. Happy Trading! 🚀💸
FX:XAUUSDLong
by FxPercent
Bitcoin at Daily Resistance — Reversal Incoming?Bitcoin is currently perched at a critical inflection point, with price action stalling at a major daily supply zone and 0.618 Fibonacci resistance. This region has acted as a key decision point in recent months, and now stands as a potential trigger for the next leg down. If Bitcoin confirms rejection from this level, it could mark the beginning of the C-leg in a broader ABC corrective structure. The implications are clear: a move back toward the 0.618 Fibonacci support could unfold quickly, especially if price fails to maintain a foothold above this resistance. This area is also the upper boundary of a descending channel that’s held since November 2024 — a structure that’s added considerable technical confluence and credibility to the current bearish outlook. From a trader’s lens, we are still trading at resistance until proven otherwise. Without a clean breakout and hold above this range, the bias remains to the downside. A confirmed breakout above would invalidate the bearish thesis, but until then, risk is skewed toward further downside as the market digests recent gains.
Short
by The_Alchemist_Trader_