Upon reviewing the gold chart in the 2-hour timeframe, we observe that the price, following last night’s analysis, has rallied once again, soaring to $2319! However, it wasn’t long before it encountered selling pressure and has corrected to $2307 as of this moment! As I mentioned in the previous analysis, the significant demand zone for gold lies between $2303 and...
This chart uses symmetric trajectories from the early distribution phases to estimate the path price will take to initiate markdown. Initial target = 506-508. If SPY finds resistance at 516 then the initial target could hit by the end of this week (5/10). If SPY breaks above 516 it should find resistance at 518-520, and then the initial target will be delayed -...
Judging from the 120-minute chart, the 10-day moving average and the 20-day moving average form a dead cross, with the two moving averages running parallel downwards, and the MACD indicator is also below the 0 axis, which is an obvious short trend. In addition, the price is falling along the 10-day moving average, and the current thinking is still...
Hello everyone, In the realm of cryptocurrency trading, BTCUSDT is currently navigating through a volatile phase. Despite moving within a price range with a gradual downward trend for several weeks, it is currently trading around $60,900 USD and has lost 0.5% for the day. However, taking a long-term perspective, BTCUSDT is following the structure of a bullish...
Hey Everyone, Our 4H chart is playing out perfectly in true level to level fashion. We started the week with our first Bullish target hit at 2313. We then had the ema5 lock above 2313 opening the gap above upto 2340. This is a big gap to target and therefore using our 1H chart and smaller timeframes, we were able to buy dips safely. Today once again we had the...
This is the final warning and a friendly reminder; what we are about to witness is a "capitulation drop!" This event is not your common drop or "normal correction," instead, it is a major event that only happens once every several years and you have front row sits for it. ➖ If we calculate the average price for Bitcoin's trading range in the past month and a...
🏃♂️ Bitcoin is moving near the 🟡 Potential Reversal Zone(PRZ)($61,800-$60,900) 🟡 and 100_SMA(Daily) and Support lines . 🌊According to Elliott's wave theory , Bitcoin is completing corrective waves , most likely a Zigzag(ABC) corrective wave structure. 💡We can consider corrective waves in the form of a pullback to the upper line of the descending...
Bitcoin looks very strong at this moment. We can see that the price is breaking out of the descending parallel channel on the daily chart. The price is above the channel and has already retested the downward-sloping trendline. We should see a strong pump from the current price. Why is bitcoin pumping? From a technical perspective, it's pretty easy to say. Take a...
Bitcoin (BTCUSD) is trading within the Rally Channel (green) with the price having already reached its bottom, making the 2nd Higher Low of the pattern. This is the very same pattern that emerged in the previous Cycle after the Growth Channel Up and took BTC to its new All Time High (ATH) at the time. Both Growth Channels had a crash event below them, the...
The USDCHF currency pair has broken and closed below an important intraday support level, which has now become resistance. There is a retest of this broken structure happening, after the test of the support level of 0.9020. To consider shorting the pair, look for a bearish flag pattern on the 4-hour timeframe as confirmation. If there is a breakout below the...
I analyzed the #TRB/USDT coin today, May 9th, with composure and elegance. Let's discuss the price movement with only a few Fibonacci variables and the GF1 Quantum indicator. We can observe that the asset broke a 17-day range on May 1st, 2024, in addition to forming a double bottom, confirming institutional presence defending the $44 price level. This indicates...
The USD/CAD pair on the M30 timeframe presents a possible shorting opportunity due to the presence of a channel pattern. Potential Short Trade: Entry: Consider entering a short position (selling) only after a confirmed breakout below the support trendline of the channel. Ideally, this would be around 1.3750 or lower if the price continues to decline after the...
EUR/USD pair is signaling a selling opportunity with a sell zone initiated at 1.07283. Traders are advised to consider multiple take-profit levels: first at 1.07109, followed by 1.06916, and finally 1.06630, each representing potential exit points for maximizing gains as the trade progresses. Meanwhile, it's crucial to manage risk effectively, hence placing a...
The current buying zone for USD/JPY is at 155.80. This suggests that traders should consider opening a long position at this level, anticipating an upward movement in the currency pair. The take profit levels are set at 156.00, 156.50, and 157.00, indicating the points at which traders should consider closing their positions to lock in profits as the price rises....
GBP/JPY is identified at 194.40, suggesting that traders may want to consider initiating a short position at this level, anticipating a downward movement in the currency pair. The take profit levels are set at 193.50, 193.00, and 192.50, indicating key points where traders might consider closing their positions to secure profits as the price declines. These levels...
The AUD/NZD currency pair is currently within a favorable buying zone, marked at 1.09645. This indicates an opportune moment for traders to consider entering a long position on this pair. With the aim of maximizing potential gains, three take profit levels have been identified: 1.09000, 1.10000, and 1.10100. These levels represent key price points at which traders...
BINANCE:TRBUSDT finds its buyer. A breakthrough of the downtrend resistance is formed and the accumulated potential is realized. The probable target may become the area of 150-160. The retest of the bottom forms a strong enough medium-term reversal pattern - double bottom. A buyer appears on the market, which is generally seen in candlestick patterns and price...
Hey Everyone, Once again our plans to buy dips played out perfectly with levels being respected!! Not much change to the chart dynamic today, as we see price playing between 2305 Goldturn support and 2321 Goldturn resistance. Our support levels are giving us the bounces needed inline with our plans to buy dips knowing we have gaps open above and the size of...