Harmonic Patterns
EURUSD: Short to medium term perspectiveHello everyone!
EUR/USD extends its gains for the third consecutive day, trading around 1.0430 during the Asian session on Monday, showing no signs of slowing down. The pair's upward momentum is likely driven by comments from European Central Bank (ECB) Governing Council member Robert Holzmann.
The next resistance levels to watch are 1.0445, followed by 1.0500 and 1.0530.
Bearish drop?S&P500 (US500) is reacting off the pivot and could drop to the 1st support which has been identified as an overlap support.
Pivot: 6,027.45
1st Support: 5,869.16
1st Resistance: 6,182.03
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bearish drop?EUR/USD is rising towards the resistance level which is a pullback resistance that aligns with the 61.8% Fibonacci retracement and could drop from this level to our take profit.
Entry: 1.04543
Why we like it:
There is a pullback resistance level that lines up with the 61.8% Fibonacci retracement.
Stop loss: 1.0534
Why we like it:
There is an overlap resistance level that is slightly above the 61.8% Fibonacci retracement.
Take profit: 1.0352
Why we like it:
There is a pullback support.
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DOGE Intraday: Sentiment and Precision-BasedEntry Criteria:
- EMA Cross: 24/42 EMAs cross to signal trend shift/continuation.
- Pivot Gain: Regain 2H-bias line (P1) and daily open (P2) to confirm support/resistance.
Exit:
- EMA Cross: Close on 12/21 EMA cross to secure profits or reduce losses.
Or
- 3R fixed for 50% or 100% TP
Confirmation:
- Daily Open respected/aligned for conviction.
- Supertrend (30M) matches trade direction.
Non-Trading Zone:
- Avoid trades in "Dead Space" (P1 ≤ x ≤ P2) due to low probability.
Entry: 0.32166
Stoploss: 0.31870
TP: TBC
SOL intraday Sentiment confirmation (LONG)Entry Criteria:
- EMA Cross: 24/42 EMAs cross to signal trend shift/continuation.
- Pivot Gain: Regain 2H-bias line (P1) and daily open (P2) to confirm support/resistance.
Exit:
- EMA Cross: Close on 12/21 EMA cross to secure profits or reduce losses.
Or
- 3R fixed for 50% or 100% TP
Confirmation:
- Daily Open respected/aligned for conviction.
- Supertrend (30M) matches trade direction.
Non-Trading Zone:
- Avoid trades in "Dead Space" (P1 ≤ x ≤ P2) due to low probability.
So, first i want price to close at a least one 15M candle above the ''Top dead-space'' in order to enter.
Current structure score:
- Structure: 1D: UP | 4H: UP | 1H: DOWN | 15M: UP |
- First 2H (15M): UP
- 15M Sentiment: EMA's: UP | ATR: UP
- Up score 7/7
Falling towards 50% Fibonacci support?DAX40 (DE40) is falling towards the pivot which has been identified as a pullback support and could bounce to the 1st resistance which is a pullback resistance.
Pivot: 19,681.24
1st Support: 19,244.23
1st Resistance: 20,427.78
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Could the price reverse from here?The Swissie (USD/CHF) is rising towards the pivot which is a pullback resistance and could reverse to the 1st support which has been identified as an overlap support.
Pivot: 0.9037
1st Support: 0.8921
1st Resistance: 0.9157
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
NASDAQ headed into a volatile January but uptrend remains intactNasdaq (NDX) is yet again testing the 1D MA50 (blue trend-line) following the direct hit of December 20. Despite the pull-back, it is technically respecting the 2-year Channel Up that it's been trading in since the December 26 2022 market bottom. Its most recent Higher Low was on the August 05 2024 1W candle, which initiated the Bullish Leg we're currently in.
Until we get a 1W candle closing below the 1D MA200 (orange trend-line), the pattern remains intact and the strategy is to continue buying into the current Bullish Leg. The previous two Bullish Legs had one main pull-back/ correction sequence each and apart from that, the majority of the Leg was technically a straight uptrend. Given that the current Bullish Leg has been trading above its 1D MA50 since September 12, it is not unlikely to see a correction below it.
Technically, it could be similar to the previous Bullish Leg (March 04 - April 15 2024), as we are trading within the 0.382 - 0.5 Fibonacci range. This means that one more rise above the 0.382 Fib is to be expected in the first week of January but it is likely to then see a correction for the rest of the month below the 1D MA50 into the first 2 weeks of February.
If after that, the 0.5 Fib and 1D MA200 levels hold, we expect the Bullish Leg to resume the uptrend and target 25300. That would be a rise of around +48%, which is the % rise of both previous Bullish Legs.
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Gold Trade Plan 30/12/2024-Higher Time FrameDear Traders,
according to my last analysis , Gold still in Correction phase,
i specified 2 Area for long position
Area 1 : 2560-2570
Area 2 : 2480-2500
Sell Area : 2640-2650
"If you enjoyed this forecast, please show your support with a like and comment. Your feedback is what drives me to keep creating valuable content."
Regards,
Alireza!
BTC/USDT - 4H Analysis: Long BiasHello traders! 📈
The current BTC/USDT chart is aligning well with a bullish setup, supporting my long bias. Here's the breakdown:
1️⃣ Market Structure:
We've observed a Break of Structure (BOS) after a mitigation of sell-side liquidity.
A bullish Fair Value Gap (FVG) has formed, which could act as a magnet for price as momentum builds.
2️⃣ Liquidity:
Buy-side liquidity zones above $98,500 and $106,000 are key targets for this move.
3️⃣ EMA Compression:
EMAs are compressing, signaling a potential momentum shift to the upside. A clean break above $95,000 would confirm bullish continuation.
4️⃣ Trade Setup:
Entry Zone: $93,000 - $94,000, near current support levels.
Stop Loss: Below $92,300, protecting against invalidation of the long bias.
Targets:
First TP at $98,500, where intermediate liquidity resides.
Second TP at $106,000, aligning with higher timeframe objectives.
🎯 Key Notes:
Watch for price reaction around $98,500. If momentum sustains, holding for $106,000 is a possibility.
Manage risk wisely and stick to your plan. This trade offers a strong risk-to-reward ratio.
Let me know how you're trading this in the comments. Happy trading and stay green! 💚🚀
Retracement will be deeper but what pattern will trigger it?Greetings everybody,
So, our H&S behaves well by far, but now the degree of uncertainty is raising. As you could see on the chart downside action is slowing. What is it? Thin Xmas market or the bearish pressure is becoming weaker?
Long-term charts - monthly, weekly show that deeper retracement has high chances to happen in nearest 1-2 months. The problem is, it is difficult to estimate what particular pattern will trigger it. If market will keep going lower - it could be our H&S.
But what if we will get the different one instead? Something like this on daily:
That's why, if you have shorts - you could keep it, just manage your stops. But for now we take the pause with the new shorts. We do not consider longs as well, because the major context is down. Hopefully after NY we will get more clarity on this subject.
GOLD NEXT MOVE (expecting a bearish move) (30-12-2024)Go through the analysis carefully and do trade accordingly.
XAU/USD Analysis - December 30, 2024
Current Price: $2626
"If the price remains below $2642, the next targets are $2612, $2589, and there is a possibility of staying above $2550."
- POSSIBILITY 1:
Wait (as geopolitical tensions are worsening)
- POSSIBILITY 2:
Wait (as geopolitical tensions are worsening)
Best of Luck!
Always remember: Never risk more than 1% of your capital on any trade.
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BEarish drop?Dow Jones (US30) is reacting off the pivot and could drop to the pullback support.
Pivot: 43,358.90
1st Support: 41,883.16
1st Resistance: 44,074.83
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
EURUSD Channel Up targeting the 4H MA200.The EURUSD pair broke above its 4H MA50 (blue trend-line) and following a Double Bottom bounce on the Support Zone on December 18, it started a Channel Up.
Having initiated that after a highly oversold 4H RSI, it shares many similarities with the November 22 Channel Up, which peaked just below the 4H MA200 (orange trend-line). This is where our current short-term Target is at 1.04900.
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xauusd buy Gold price trades near $2,620.00 on Monday, with the daily chart indicating a consolidation phase as the metal moves sideways near the nine- and 14-day Exponential Moving Averages (EMAs). The 14-day Relative Strength Index (RSI) hovers just below the 50 mark, reflecting a neutral sentiment. A decisive move above 50 could signal increased buying interest in the commodity.
Gold holds steady above $2,600 after failing to make a decisive move in either direction in the previous week. Growing expectations for a cautious approach to policy easing by the Fed in 2025 limits XAU/USD's upside heading into the New Year holiday.
xauusd buy 2615
suppot 2630
suppot 2650