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AUDCAD RE. CHANNEL AND KEY LEVELS Hello awesome traders i hope you have had a great trading week, let's have a look at the AUDCAD presenting a great trading opportunity. Price is breaking above the trendline breakout at 0.90931, signaling a potential bullish continuation. 📈 Trade Setup: ✅ Breakout Level: 0.90931 (Key resistance turned support) 🎯 First Target: 0.91732 (Mid-range resistance) 🎯 Second Target: 0.92816 (Upper resistance) ❌ Stop Loss: Below mid-support at 0.90122 🧐 Key Observations: 🔹 The breakout needs sustained momentum for confirmation. 🔹 A pullback to retest 0.90931 could provide a better entry. 🔹 If price fails to hold above 0.90931, a dip back to 0.90122 is possible. 📊 Market Sentiment: 📌 Monitor volume and momentum at the breakout zone. 📌 If buyers hold above 0.90931, it strengthens the bullish outlook. 🔥 Keep an eye on price action for confirmation before scaling in! 🔥 Have an amazing weekend, trade safe and may the pip be with you !!
Long
by TradeChartPatternsLikeThePros
2
📈 Trading Analysis - Meta (Months Chart): V Bottom Pattern Hello traders, I hope you had a great weekend. Today, let's focus on Meta as a compelling price action reversal pattern, the V-bottom, has emerged. Upon analyzing the monthly chart, it's evident that a V-bottom pattern has developed, suggesting a potential price reversal. The price has successfully broken above the breakout point at 383.72. For those with an appetite for aggressive trading, entering the market during trendline breakouts at the base of the V-bottom pattern is an option. However, it's important to note that straightforward trendline breakouts have a success rate of only 52%. Now, if the price manages to sustain itself at the 38% level, specifically at 496.79, there is a possibility of a retracement back to the breakout point. While not guaranteed, such a retracement could offer a potential long entry opportunity. With a success rate of more than half, the price might target the 62% level at 567.95 and the 79% level at 617.20, sooner or later.
NASDAQ:METALong
by TradeChartPatternsLikeThePros
DAX 🗝️ LEVELS TO WATCH 👀AND WHY 🤔Hello awesome traders, let's have a look at the DAX. I have a new analysis today as the previous exchange seems to be shut down. Here are the details: The DAX on a weekly chart is trading a cup and handle pattern, and the price is now trading below near the target zone 1 at 62%: 19078.70. After a successful breakout from 16305.21, the target zones are as follows: Target Zone 1: 62%: 19078.70 78%: 19817.23 Pattern Height: 100%: 20784.96
FX:GER30
by TradeChartPatternsLikeThePros
CADJPY CUP & HANDLEHello traders! Let's revisit the CADJPY chart and provide an update since I shared the idea on August 17. It's time to clarify things. Our focus is on CADJPY, where an interesting Cup and Handle Pattern is taking shape on the daily chart. For a more in-depth understanding of Cup and Handle patterns, you can check out additional resources here: (www.tradingview.com). Make sure to return here for the continuation of this analysis! Examining the price action, we observe a distinct double bottom with a Low Cup at 104.247. Currently, the price is situated below the Breakout level at 110.624, and astute traders will notice the ongoing development of the handle phase. Once the anticipated breakout occurs at 110.624, we will take action and execute the trade, placing our stops just below the previous low pre-breakout. Our target sights are set on the first target zone: 62% at 120.845 and 79% at 123.620. But that's not all – keep your trading antennas finely tuned, as additional setups may emerge on smaller timeframes, enhancing our trading landscape further. Remember, trading is a continuous journey. Stay vigilant, stay informed, and, most importantly, stay tuned for more exciting developments in the world of trading. Happy trading, everyone! 📈📉
Long
by TradeChartPatternsLikeThePros
2
GBPUSD ABC BULLISH Hello traders! Let's delve into a promising trading setup on the GBP/USD pair. On the daily chart, GBP/USD has formed an ABC bullish pattern, indicating a potential upward movement. The pattern is accompanied by a 50% Fibonacci retracement level, adding to its significance. Entry Level: The long entry level (EL) is identified at 1.2428. The price is currently trading above this level, presenting a favourable opportunity for long trades. To manage risk, consider placing a stop-loss order below the C point of the pattern at 1.2384. This level acts as a protective barrier against adverse price movements. Wall level at 1.2591This confirms the strength of the bullish momentum. Partial Profit-Taking: Traders may opt for partial profit-taking at key Fibonacci retracement levels: 38% retracement level (AB) at 1.2717 Alternatively, aim for 62% (AB) at 1.2916 or 78% (AB) at 1.3062. Wishing everyone a great Weekend ahead! Remember to trade safely and adhere to risk management principles. TCPLTP
Long
by TradeChartPatternsLikeThePros
6
EURUSD GARTLEY BULLISHHello fellow traders! Today, let's dive into one of the most traded forex pairs, the EURUSD. The EURUSD, also known as the Euro-Dollar pair, represents the exchange rate between the Euro and the US Dollar. It is one of the most liquid and widely traded currency pairs in the forex market, often influenced by factors such as economic data releases, geopolitical events, and monetary policy decisions from the European Central Bank (ECB) and the Federal Reserve (Fed). Chart Patterns Analysis: On its daily chart, the EURUSD pair has formed an advanced harmonics pattern known as a Gartley pattern. This pattern is characterized by specific Fibonacci ratios that help identify potential reversal zones in the market. The price is currently trading above the long entry level (EL) at 1.06707, indicating a bullish bias in the market. This entry level has already been executed on its micro, suggesting early participation in the potential bullish move. Using Fibonacci Levels: To identify potential resistance levels for profit-taking, we can utilize Fibonacci retracement levels. The wall, or initial target, is set at 1.07640. Additionally, traders may consider partial profit-taking at the 38% Fibonacci retracement level of XA at 1.08660. Further Targets: The primary target zone 1 is set at the 62% Fibonacci retracement level of XA, which is located at 1.10277. For more ambitious traders, the 79% Fibonacci retracement level of XA serves as an extended target at 1.11466. As always, it's essential to manage risk effectively by setting stop-loss orders and adjusting position sizes accordingly. Monitoring price action and market developments can provide valuable insights into the strength of the bullish trend and potential reversal zones. Stay tuned for further updates and happy trading, everyone!
Long
by TradeChartPatternsLikeThePros
1
USDJPY🗝️ LEVELS TO WATCH👀 AND WHY 🤔 Hello Awesome Traders! I trust you had a rejuvenating weekend and are geared up for the exciting trading opportunities the new week has in store. Let's dive right into USDJPY, where a compelling setup awaits our attention. USDJPY has formed an ascending triangle pattern on its weekly chart, signaling a potential bullish move. The recent breakout above the resistance level at 151.944 marks a significant development, offering traders an opportunity to capitalize on the upward momentum. While some may view the weekly chart as a longer time frame, it's important to note that setups like these can yield numerous trading opportunities on lower time frames. For seasoned traders, this setup presents itself as a golden opportunity, ripe for exploration. Upon further analysis, I've identified a key level at 151.008 where we should keep a close eye for potential long positions. I'll keep you updated on any developments. In terms of profit-taking, it's wise to aim for partial profits to lock in gains along the way. Consider targeting the following zones: Partial Profits at 38% Fibonacci retracement level: 161.377 Target Zone 1 at 62% Fibonacci retracement level: 167.159 Target Zone 2 at 79% Fibonacci retracement level: 171.377 Stay tuned as we monitor this setup over the coming weeks, or even months. Warm regards, TCPLTP
Long
by TradeChartPatternsLikeThePros
2
👑 GOLD XAUUSD 🗝️ LEVELS TO WATCH 👀AND WHY 🤔 Hello, fellow traders! I hope your trading week has been nothing short of fantastic. The recent movements in the gold market have certainly been thrilling. However, as we all know, prices in trading don't ascend perpetually, and it's crucial to adapt our strategies accordingly. Let's delve into a promising opportunity presented by gold. Hello, fellow traders! I hope your trading week has been nothing short of fantastic. The recent movements in the gold market have certainly been thrilling. However, as we all know, prices in trading don't ascend perpetually, and it's crucial to adapt our strategies accordingly. Let's delve into a promising opportunity presented by gold. Observing the gold chart reveals a pattern we've encountered before: a higher high and a higher low at the 61.8 percent retracement, commonly known as the ABC pattern. Why patterns, you might wonder? Well, each pattern offers valuable insights, allowing us to project Fibonacci retracement levels not only for targets but also for determining support, resistance, and entry points. Currently, the gold chart exhibits an ABC bearish pattern, with the price trading below the level of 2360.40. Our analysis primarily focuses on the daily timeframe, although trading opportunities may also arise on lower timeframes such as H4. It's worth noting that prudent risk management is essential to mitigate potential losses, particularly if the trade veers off course. Should the price surpass the C stop at 2380.37, adjustments to our setup will be necessary. Turning to our targets, we've identified two key zones: Zone 62% at 2282.89 and Zone 79% at 2256.81. For those inclined to let profits run, the 138% target sits at 2218.37, with the 162% target following closely at 2182.34. This strategy is straightforward yet effective, and additional trades may be executed on lower timeframes for those interested. Stay tuned for further updates! Wishing you all successful trades ahead, and may the pip be ever in your favor! Observing the gold chart reveals a pattern we've encountered before: a higher high and a higher low at the 61.8 percent retracement, commonly known as the ABC pattern. Why patterns, you might wonder? Well, each pattern offers valuable insights, allowing us to project Fibonacci retracement levels not only for targets but also for determining support, resistance, and entry points. Currently, the gold chart exhibits an ABC bearish pattern, with the price trading below the level of 2360.40. Our analysis primarily focuses on the daily timeframe, although trading opportunities may also arise on lower timeframes such as H4. It's worth noting that prudent risk management is essential to mitigate potential losses, particularly if the trade veers off course. Should the price surpass the C stop at 2380.37, adjustments to our setup will be necessary. Turning to our targets, we've identified two key zones: Zone 62% at 2282.89 and Zone 79% at 2256.81. For those inclined to let profits run, the 138% target sits at 2218.37, with the 162% target following closely at 2182.34. This strategy is straightforward yet effective, and additional trades may be executed on lower timeframes for those interested. Stay tuned for further updates! Wishing you all successful trades ahead, and may the pip be ever in your favor!
FOREXCOM:XAUUSDShort
by TradeChartPatternsLikeThePros
GBPUSD🗝️ LEVELS TO WATCH 👀AND WHY🤔🐲Hello Awesome Traders! I trust you're having a fantastic trading week so far. Let's dive into an exciting opportunity presented by GBPUSD on its 1-hour chart. This setup is worth exploring as it offers potential for profitable trades. GBPUSD has formed a double bottom pattern around the 1.2529 level, with striking similarities between the first and second bottoms. Examining the CD leg, we observe two sets of equal downward swings, indicating symmetry in length. This setup is conducive to buying low and selling high, offering opportunities for traders. For pattern enthusiasts, there are two notable formations: a flat AB=CD pattern and a dragon pattern. These patterns provide additional confluence and increase the setup's reliability. I've drawn a trendline marked as 'E,' which the price should ideally break with a surge in volume to confirm market participation. Targets: For intraday traders, consider targeting the 62% Fibonacci retracement level of the AD leg at 1.25944. Another target to watch for, especially for those eyeing the dragon pattern, is the 78% Fibonacci retracement level of the AD leg at 1.26125, which aligns with the 127% extension of the CD leg. Trading Strategy: Swing traders can monitor the chart over the next few days for potential long opportunities. Keep an eye on price action and volume dynamics for confirmation before entering trades. Set appropriate stop-loss orders to manage risk effectively. For intraday trades, consider taking partial profits at key Fibonacci levels to lock in gains. Happy trading, and may the pips be with you!
Long
by TradeChartPatternsLikeThePros
EURUSD 🗝️ LEVELS TO 👀 AND WHY🤔 Hello Awesome Traders! I trust you're having a fantastic trading week so far. Let's dive into an exciting opportunity presented by EURUSD on its 1-hour chart. This setup is worth exploring as it offers potential for profitable trades. EURUSD has formed symmetrical AB = CD legs, indicating a potential continuation or reversal pattern. Time and Price Similarities: Observing similarities in both time and price movements adds further confirmation to the pattern formation. Support Level: The price has found support around the 1.07545 level, reinforcing the bullish bias. Key Levels: Support: The 1.07545 level serves as a crucial support level, validating the bullish outlook. Targets: Consider targeting the 127% Fibonacci extension level of the CD leg at 1.08297 and the 162% Fibonacci extension level at 1.08518 for potential bullish price targets. Trading Strategy: Long Opportunities: Traders may consider long positions, anticipating a bullish continuation based on the symmetrical AB = CD pattern and support level confluence. Entry Point: Wait for confirmation of bullish momentum, such as a candlestick close above the recent swing high or a breakout above a key resistance level. Stop-Loss Placement: Place stop-loss orders below the recent swing low or the support level to manage risk effectively. Target Zones: Target the Fibonacci extension levels mentioned above, adjusting position sizing and profit-taking strategies accordingly.
Long
by TradeChartPatternsLikeThePros
EURJPY KEY🗝️LEVELS TO WATCH👀 AND WHY🤔 Hello awesome traders! It's been quite a ride with EURJPY since April 10, 2023. Let's delve into the charts and analyze some key levels to guide our trading decisions. Weekly Chart Analysis: The weekly chart reveals a symmetrical triangle pattern, which I previously shared on TradingView back in April 2023. This chart holds significance as it demonstrates a breakout on April 10, 2023, with the price remaining bullish ever since. I've highlighted two crucial Fibonacci levels: the 38% retracement level at 154.142, acting as support (marked in red), and the 100% extension level at 163.490, serving as resistance (marked in blue). Over my decade of trading experience, I've learned that these Fibonacci levels not only serve as potential targets but also as important support and resistance zones. Fibonacci analysis is instrumental in identifying these key levels. Now, as we examine recent price action, we must determine our trading bias. The 162% Fibonacci extension level at 172.687 hasn't been triggered yet. However, the 100% level at 163.490 may now be acting as support, indicating a shift from resistance to support. This shift influences our trading decisions, potentially favoring a bullish outlook. Daily Chart Analysis: Zooming into the daily chart, we observe a three drives pattern unfolding. Here, we apply Fibonacci retracements instead of extensions, using points A (160.215) to D (171.605). Currently, the price is hovering around the 62% retracement level (AD: 164.603), slightly above the support at 163.490. Additionally, the 78% retracement level (AD: 162.640) serves as a potential support zone. This bullish pattern on the daily chart aligns with the bullish sentiment seen on the weekly chart. On the H4 timeframe chart, we're witnessing further bullish momentum. Moving forward, it'll be crucial to monitor whether the price holds above these support zones. If so, we may anticipate a continuation of the bullish trend towards the 162% Fibonacci extension level at 172.687. Overall, by integrating Fibonacci analysis across different timeframes, we gain valuable insights into potential price movements and can make informed trading decisions. Let's keep a close eye on these levels and adjust our strategies accordingly. Happy trading!
by TradeChartPatternsLikeThePros
EURJPY Cup and Handle Hello Traders! Let's delve into the EURJPY daily chart, where an intriguing opportunity is unfolding. The current setup illustrates a U-shaped pattern, resembling a classic cup and handle formation within an existing uptrend. A distinctive U-shaped pattern, indicative of a cup and handle formation. Noteworthy uptrend in the market, enhancing the validity of the pattern. Critical Price Level: The price is approaching a crucial breakout point at 164.308. Anticipation of a potential retracement, possibly forming a handle, before the decisive breakout. Scenarios to Consider: Two likely scenarios regarding the breakout: The price might experience a fakeout at 164.308, followed by the formation of a handle before a genuine breakout. Alternatively, the handle formation may precede the breakout. Implement stops strategically at the mid or below the breakout bar. Initial target levels: 62% at 171.140 and 79% at 172.867. Cup and handle patterns, especially on daily charts, hold significance. Fibonacci levels, when applied, often provide robust support and resistance, potentially influencing the market for up to six months. Keep a close eye on EURJPY as the cup and handle strategy develops. The market is showing promising signs, and potential opportunities lie ahead. 📊 Follow-Up Plan: Look out for possible retracements or the formation of a handle. Stay tuned for updates as the price approaches the critical breakout level at 164.308. 👁️ Stay Informed: Bookmark this analysis for future reference. Subscribe for timely notifications on further developments. 👍 Like and Share the Idea: If you find this analysis insightful, don't forget to like the post! Share with fellow traders to spread the word. 📈 Trading Reminder: Remember, trading involves risks. Always implement sound risk management practices. 🔔 Notification Squad: Be part of the notification squad to receive real-time updates. Let's navigate the markets together! Happy trading, and see you on the next update! TCPLTP
Long
by TradeChartPatternsLikeThePros
GBPJPY Cup and Handle Pattern Hello traders! 🌟 I hope you're having a fantastic weekend. As we gear up for the trading week, I've spotted an exciting opportunity on GBPJPY that I wanted to share with you. Trading Setup: GBPJPY Cup and Handle Pattern ☕🖐️ The chart reveals a classic Cup and Handle pattern. Key Breakout Level: Keep an eye on the breakout level at 188.661. Cup and Handle patterns work best when there's a confirmed breakout above the level mentioned. Once we see that breakout, consider placing your stops at the mid of the handle to manage risk effectively. Profit Targets: 🎯 Potential targets are set at 62% (194.987) and 79% (194.987) levels. Watch out for a surge in volume during the breakout; it confirms active participation. You might want to secure some profits at the 38% retracement level (192.581). Stay Updated: 📡👀 Keep an eye out for real-time updates and further price action. Your likes and comments are always appreciated. TCPLTP
Long
by TradeChartPatternsLikeThePros
EURJPY RECTANGLE CHANNEL Hello Awesome Traders! Let's take a closer look at EURJPY today. The price action is currently indicating a rectangle channel, and excitingly, the price has just broken above the UPPER TRENDLINE at 165.363! Here are the key levels to watch: UPPER TRENDLINE BREAKOUT: 165.363 Mid: 163.803 LOWER TRENDLINE BREAKOUT: 162.294 With this breakout, we're eyeing potential targets: 38%: 167.316 62%: 168.510 This breakout presents an exciting opportunity for traders, potentially signaling a bullish momentum shift. Keep a close eye on price action as we monitor these levels for potential trading opportunities. Happy trading, and may the pips be with you!
Long
by TradeChartPatternsLikeThePros
XAUUSD👑 GOLD KEY LEVELS TO WATCH 👀 AND WHYHello traders and welcome, Today, we are delving into the world of gold, and it's high time for a fresh analysis of this precious metal. On its weekly chart, gold has formed an ABC or 123 pattern. Let's dive deeper into the concept of the ABC pattern: Traders base their buy and sell decisions on the analysis of historical price data and the identification of patterns that help predict future price movements. To trade patterns successfully, it's essential to spot trends, consolidations, support and resistance levels, as well as reversals to establish stop-loss and take-profit levels. In our discussion, we will zoom in on one of the primary reversal patterns and illustrate it with examples: The basic ABC pattern has proven itself as a consistently reliable trading signal. This pattern is the building block of numerous other patterns. If you delve into the Elliott Wave theory, you'll find it as waves 0, 1, and 2 (0A, 1B, 2C). The ABC pattern is also commonly known as the 1-2-3 waves. It appears within other patterns such as the Gartley pattern, the AB=CD pattern, as well as within shapes like pennants, triangles, rectangles, head and shoulders, double tops, and double bottoms. What's fascinating is that anyone can learn to identify and trade the ABC pattern. Furthermore, this knowledge is transferable to recognize and trade many other patterns because of its fundamental structure, which is present in several patterns. Traders can apply their understanding of ABC patterns across different market conditions, underscoring its adaptability as a critical element of trading success. Once you've pinpointed the ABC pattern, you can incorporate it into other adjacent patterns. A prime example of this is the 121 pattern, where two ABC patterns occur in succession. The 121 pattern can manifest as either a continuous or a reversal pattern and tends to have a high success rate when it takes shape. The ABC pattern is widely regarded as one of the premier patterns to trade, equipping traders with valuable tools for technical analysis. For those eager to learn how to identify the ABC pattern, you can find a guide here: ( Now, let's observe how this knowledge applies to the gold market. On the weekly gold chart, a bullish ABC pattern has materialized, with the C retracing to approximately 50%. In addition, a bullish AB=CD pattern has emerged, and the price is currently trading above the A point, affirming a potential completion of the ABC pattern. We've identified an enticing long entry level at $1913.940, with the price trading above previous highs. Furthermore, there's the exciting possibility of a new Wave 3, with a projected target at 162% of AB, which amounts to $2349.185. It's worth noting that potential resistance may be encountered along the way, particularly at the 62% AB level, at $2094.715. In summary, the gold market presents an intriguing opportunity with the ABC pattern, and we've outlined key entry points and potential targets for your consideration. Happy trading!
OANDA:XAUUSDLong
by TradeChartPatternsLikeThePros
5
👑 XAUUSD GOLD KEY🗝️LEVELS TO WATCH 👀AND WHY🤔Hello Traders! Let's delve into the recent movements of Gold (XAU/USD) on the daily timeframe, exploring potential opportunities: 📉 Patterns Unfolding: V Bottom & AB=CD Formation The charts reveal the presence of a V Bottom pattern, coupled with an AB=CD formation, signaling the potential for a bullish upswing. 🔍 Current Scenario: Notably, the price has surpassed the breakout level situated at 2031.72, showcasing strength in the bullish sentiment. 🎯 Critical Levels to Observe: Keep a watchful eye on key levels, particularly around 2044.95 and the 38% retracement at 2049.96. Traders may consider securing partial profits as the price approaches the 38% retracement. 🚨 Risk Management Strategies: Mitigate risks by placing a stop-loss order strategically below the low preceding the breakout level. 🎯 Exploring Target Zones: Potential target zones include the 62% retracement around 2061.29 and the 79% retracement at 2069.24.
FX:XAUUSDLong
by TradeChartPatternsLikeThePros
2
ETHUSD ADVANCE HARMONICS PATTERN **Greetings Fellow Traders! Welcome to Today's Insight.** Today, we're diving into the world of cryptocurrency, focusing our attention on ETHUSD. A remarkable trading opportunity is unfolding, and we're here to explore it together. 📊 **Chart Analysis: ETHUSD Harmonic Gartley Pattern** On the daily chart of ETHUSD, an advanced harmonic pattern known as the Gartley Bullish pattern has taken shape. This pattern can offer valuable insights for potential trades. 📈 **Trade Setup:** - **Chart:** ETHUSD (Daily) - **Harmonic Pattern:** Gartley Bullish 🎯 **Key Entry Level:** The current price of ETHUSD is in proximity to a promising entry level. - **Entry Level (EL):** 1636.6 🚀 **Targeting Potential Profits:** We're aiming for a specific target calculated based on the harmonic pattern. - **Target 62% XA:** 2016.3 📈 **Consistency Matters:** Repeatedly hitting a target or level signifies a potential shift in price dynamics. 📊 **Trade Responsibly:** Remember to implement prudent risk management strategies that align with your trading approach. 💬 **Join the Discussion:** We're eager to hear your thoughts on this analysis. Your insights enrich our community. 📊 **Explore Trading Opportunities:** The ETHUSD Harmonic Gartley pattern presents a compelling case for exploration. Delve into the details and see if it aligns with your trading strategy. Join Trade Chart Patterns Like the Pros for Comprehensive Trading Insights and embark on a journey to enhance your trading skills! 📊📈💎
Long
by TradeChartPatternsLikeThePros
3