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Suppoortandresistance

Gold's Next Big Move: Will It Skyrocket or Plummet? Expert View!Major Support / Resistance Zone: This zone is marked clearly on the chart and acts as a significant level where price has previously reversed or consolidated. It's crucial to monitor how price reacts around this area. Wave Analysis: The chart shows a clear Elliott Wave structure, with a 5-wave pattern identified. Waves (1) to (5) represent the motive waves, and the correction waves are seen in between. Bearish Flag #1 and #2: These flags indicate periods of consolidation following a downward movement, suggesting potential for continuation to the downside. They are often characterized by lower highs and lower lows forming within a channel. Descending Channel: The descending channel provides a clear bearish structure, with price making lower highs and lower lows. This channel acts as a guide for potential price movement, indicating bearish sentiment as long as the price remains within this structure. Daily Bull Flag: This larger bullish flag formation suggests a longer-term bullish potential if price breaks above the flag's upper boundary. It's a key pattern to watch for potential upside. 1HR LQZ / Reversal Zone: This liquidity zone (LQZ) is marked as an area where a significant amount of orders might be present, potentially leading to reversals or significant price reactions. 4HR LQZ: Similar to the 1HR LQZ, but observed on the 4-hour timeframe, suggesting a more significant potential reversal or consolidation area. Bullish Potential: If the price breaks above the 1HR LQZ / Reversal Zone and the descending channel, there is a bullish potential up to the levels marked on the chart. The structure would need confirmation through higher highs and higher lows. Bearish Potential: If the price fails to break above the descending channel and instead moves below the 4HR LQZ, a bearish continuation is likely, potentially targeting lower support levels. Summary The chart indicates a potential for both bullish and bearish scenarios depending on how the price reacts to the identified key levels (major support/resistance zone, 1HR and 4HR LQZs, and the descending channel). Bullish scenario: Break above the 1HR LQZ and the descending channel, leading to a continuation towards higher levels. Bearish scenario: Failure to break above the descending channel and a move below the 4HR LQZ, indicating a continuation to the downside. This analysis should help in making informed trading decisions based on the observed technical patterns and key levels.
OANDA:XAUUSDLong
by Adlercon333
2
ETH/USDT 4H Interval ReviewHello everyone, let's look at the ETH to USDT chart on the 4-hour timeframe. As you can see, the price is staying below the local downtrend line. When we unfold the Fib Retracement grid, we see that the price is in a strong support zone at $1902 to $1868, however as we move lower the next support is at $1823. Looking the other way, we will similarly mark the resistance points for the price and here the first resistance is at $1932, then we have a strong resistance zone from $1970 to $1997, then resistance at $2030 The CHOP index indicates that there is still some energy left for the continuation of the move, MACD indicates a return to the local downtrend, and the RSI is moving in the lower limit, but with room for the price to go a little lower.
by cryptodailyuk
1
Bitcoin Scalping PlanHello friends. According to following reasons i personally go LONG for BTC/USD : 1 - Reach the Higher Timeframe Valid trendline. 2- shape an Bullish Engulfing pattern on this line. 3-Reach the 27000 support level. 4-Bullish divergence Between Price and RSI. 5-Long distance from 50 , 100 and 200 EMA So for these reasons i think we can go up till drawn trendline and price 28200. Trade R/R is 1:2 and after that we should look after price for next analysis. Thanks for your supports.
Long
by TraderAmin-KZ
4
SUGARUSD Bearish ShortTrading AnalysisSUGAR RAWUSD Bearish trend forming for Sugar Commodity We are seeing a Elliot 5 pattern way theory occurring as well on the 2-3 hour charts. But most importantly sugar is spiraling down towards a major support level. Clearly the uptrend has broken it's trend line with a fake cat bounce/retest making it definite the reversal has occurred. FIB LEVELS also mention that the support is a crucial zone of interest. As it could reverse or keeping it's bearishness due to it's heavy many spikes of volume. A parallel channel has formed. I would place a sell limit in it's latest order block as seen in the picture, also to mention that there are many inside bar candles in this order block which can be used efficiently for the right trade, in this scenario shorting. A nice 650+ pip move if all goes as speculated. - David van Delden
VANTAGE:SUGARShort
by ImperialTrading
Perfect automated detection of Butterfly & DeepCrab PRZ- ShortA bearish-type Butterfly pattern occurred within the resistance zone of 1.0070-1.0110. (In this resistance zone , there was a rebound in 13 Sep, 26 Aug,...) If the price rises to 1.0198, a bearish-type DeepCrab pattern could occur. Also on the daily chart, bearish-type Butterfly pattern is occurring. Short after seeing the rebound. *Harmonic patterns and support/resistance zones are automatically detected using the indicators below. - Harmonic auto-detect PRO - Support/Resistance Zone Auto PRO
Short
by HarmonicLab
3
Will ETH remain in the fundamental support zone?Hello everyone, let's take a look at the ETH to USDT overnight chart. As you can see, the price has dropped below the uptrend line. Let's start with the support line and as you can see, the first is the fundamental support zone from $ 1856 to $ 1694 where the price is currently at, if the support breaks down, another is $ 1472, another is $ 1.108 and $ 529. Now let's move from the resistance line as you can see the first resistance is $ 2478, if you can break it the next resistance will be $ 2681 and $ 2903. Looking at the CHOP indicator, we can see that the energy has been consumed in the 1-day range, while the MACD indicator shows a downward trend.
by cryptodailyuk
Has SOL completed the correction?Hello everyone, let's take a look at the SOL to USDT chart in 1 day. As you can see, the price moves in the triangle marked by the blue lines. Let's start with the designation of the support line and as you can see the first support in the near future is $ 73, if the support falls, the next one is $ 51 and $ 29. Now let's move from the resistance line as you can see the first resistance is $ 98, if you can break it the next resistance will be $ 108 and $ 116. Looking at the CHOP indicator, we can see that in the 1-day range we have less and less energy, while the MACD indicator shows that the blue line is just below the red one. Only when the blue line crosses the red line from below will we get confirmation of the upward trend change.
by cryptodailyuk
THETA/USDT Pennant Break-OutTHETA/USDT managed to push down towards the $1.50 level a couple of days ago. After a sharp rebound in the price of Bitcoin, THETA is on its way to recover some lost ground. Momentarily, THETA broke-out of the pennant on the upside and manageed to beat the $2 resistance, signaling a new upward move. I've marked two areas of resistance, R1 and R2, where I expect bearish pressure to occur. If Bitcoin remains bullish for another day or three, we might see a new ATH on THETA with some luck! Happy trading!
Long
by FieryTrading
2
GOLD TO BREAK HIGHER?With the trade tensions between the US and China growing we have seen the price of Gold range as the correlation between CNYUSD and GOLD still remains close. In the last 24 hours of trading we have seen a slight shift in sentiment across the markets including a 4% drop in the NASDAQ yet Gold remained fairly quiet. However now we are approaching the key level of 1215.00 which the market has struggled to get above during the trade tension crisis. There is an opportunity however if the market can break and close above the key resistance we could look for short term longs in line with the market conditions.
OANDA:XAUUSDLong
by peterthinkhuge
3