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Majorcorrection

XAUUSDGold has shown a strong historical pattern of impulsive rallies followed by significant corrections. After the recent explosive move from the $2,067 breakout zone to new all-time highs around $3,500, representing a +67% rally, the metal appears overextended and due for a healthy pullback. Past cycles suggest that after such parabolic moves, price tends to retrace back to key demand zones or previous accumulation levels. In this case, the medium-term correction target aligns with the $2,800–$2,750 region — a strong structural support and confluence with the 2024 breakout base. While the long-term trend remains bullish, this setup hints at a potential mean reversion or consolidation phase. Traders should remain cautious at current highs and watch for signs of distribution and lower highs forming in the coming weeks
PEPPERSTONE:XAUUSD
by Trader1mran
Bitcoin: Weekly Forecast 22nd August 2021Bitcoin has remained bullish for the 5th consecutive week and it has now regained more than 50% of its previous losses. There's been a growing sentiment that the crypto-market has resumed a bullish trend as demand for crypto payment is growing in different sectors. but right now, bitcoin is about to face a very key supply level around 50,000 mark and may bring about another phase of selloff. If history is off any guidance, the major correction is still far from over and could still potentially find itself sink deeper beyond 30,000 again. this week, we will wait for clear signs of reversal at the supply level around 50,000 before we start looking for selling opportunities. Otherwise, following the frenzy right and buy the pullback from every bullish wave could prove rewarding as well especially for day trading.
BITSTAMP:BTCUSDLong
by AlgoVenture
2
WTI: Weekly Forecast 22nd August 2021WTI just recorded another record-breaking drop in a week, showing no sign of stopping even in the last trading day. The oil price has definitely reached an extremely overbought level and it should not be any surprise to see major correction like this. Do keep in mind that oil is still in a bull market and it's very likely that oil demand will reach another record-breaking level once travelling overseas return in the foreseeable future. Putting the fundamental aside, when the oil market does a major correction, it is usually within a range of 20%, and guess what? We are just 1% away from 20%. Therefore, we will resume looking for buying opportunities at the current demand level around 61 BUT keeping in mind that the short-term trend is still very bearish though extremely oversold. Should the price rebounds, we should be able to see 66 again and eventually resuming into a bullish trend overall.
TVC:USOILLong
by AlgoVenture
Nasdaq: Weekly Forecast 22nd August 2021Nasdaq pretty much recovered from a dip last week and is about to retest its current high at 15170. For the past couple of weeks, we have been waiting for a major correction in the stock market amid a strong sentiment of tapering from the Fed. Ironically, both the S&P and Dow continued to break new high except for the Nasdaq which continued to range around 15000. Last week, we finally saw all three of them trading lower together (and Russell2000 trading at a range bottom). The Nasdaq has been resisted around 15000 for an entire month and it has been half a year since the last major correction. This week, we will focus on selling the Nasdaq at its current supply level just above 15100, and aiming for a target at the demand level just above 14000.
UShort
by AlgoVenture
7
#Bitcoin : Heading For The Last Chance To Accumulate. [#LAST]#Bitcoin_Update You might not seen signals and ideas from me this past 4 days but that was mainly because our last update on Bitcoin is doing as perfectly predicted and as I have said it just seeing the market move while you know the outcome is the best option in professional trading. As you have remembered our last first expectation signal of an extended flat corrective wave is doing well and moving in a perfect and very healthy way for a good reversal upward trend. The 4th minor wave is done and we are now on the last and basic corrective 5th wave towards the next major resistance first at our last major low of 9651$ and further to the points of 8000$ - 8200$ area which even might further see the 7044$ area of the major support for the 1W chart. I am very happy for this major correction since we have a good opportunity for an accumulation phase which might be for the last time in Bitcoins history and since we will have a good days coming in the near future of the ALT season to begin. I am still expecting a further downward move from Bitcoin and panic can never be the logical answer at this point since I believe this is a technically supported trend and a very healthy one too. Please drop a Like if you agree with this idea and your comment if you have further another type of outcome you believe. Further please help us to grow our community number by following our profiles both in here at trading view and major social media platforms @ TogetherWeAccumulate . With Regards.
COINBASE:BTCUSDShort
by cryptotalk_et
#Bitcoin_Update : Where To Go Next? A Major Correction Coming!?#Bitcoin_Update Bitcoin moving exactly as we predicted on our last update forming an expanded flat corrective wave of Five. Currently testing the corrective 50% fib level at around $11759 area. If it can't break out from this area which is the most probable outcome from the study, we will be heading for the formation of the third wave of the major wave C which have the possibility to go further towards first to $9651 and if the expanded flat corrective wave is going to develop will rebound from there towards the $10553 for a corrective correction move and will be heading upto $8100 and even towards the 161.8% fib level at around 7044 USD. But we need some more time to conclude about the formation of an expanded flat corrective wave for now. In my opinion this is a most probable outcome to predict so far. We will give more updates on the trade soon. Stay Tuned For More. Besides please consider to drop your likes if you agree with the idea and drop your comments if you have any disagreement on the idea for making a good learning progress between us. Further we would like you to help us grow our community by following our profile here in trading view and other major social media platforms. @TogetherWeAccumulate . With Regards. TeamTWA.
COINBASE:BTCUSDShort
by cryptotalk_et
3