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Bitcoin- Bullish Engulfing on retestAs I mentioned a few days ago, BITSTAMP:BTCUSD has broken above the descending resistance level of its downward channel. This breakout could signal the end of the recent correction. Following the initial climb to the critical horizontal level at 65k, Bitcoin experienced another drop, testing the previously broken resistance level, which this time acted as support. Yesterday, we observed a strong bullish engulfing pattern at this level. These are positive indicators for bulls, suggesting potential further upward movement in price. The key level to monitor is 65k, and a breakout above this level could pave the way for a new all-time high in the near future. My outlook remains bullish.
BITSTAMP:BTCUSDLong
by Mihai_Iacob
4
Correction for alts is probably overFor the past two months, CRYPTOCAP:TOTAL3 has been undergoing a correction. This correction was anticipated for many altcoins and, importantly, is very healthy for the market. Upon closer analysis of the chart, it becomes evident that this correction does not signify a trend reversal. Total3 halted its descent around the 600T zone, which does not represent very robust support. I anticipate a fresh upward movement from many altcoins, potentially propelling Total3 to reach the 850T mark.
CRYPTOCAP:TOTAL3Long
by Mihai_Iacob
3
EurAud could rise 400 pipsRecently, FX:EURAUD breached the 1.63 support level. However, after reaching a low of 1.6220, the pair swiftly reversed, indicating a false breakout. Over the past three weeks, the pair has formed a falling wedge pattern, hinting at a potential reversal to the upside. Confirmation of a bullish scenario would come with a break above the descending trend line. In the medium term, EURAUD could ascend and retest the recent high at 1.6680. I maintain a bullish stance on this pair as long as the recent low remains unbroken.
Long
by Mihai_Iacob
EurUsd- 1.07-1/0720 zone, line in the sand for future directionSince the beginning of the year, FX:EURUSD has been in a downtrend. Despite occasional reversals from the lows, a broader examination reveals a pattern of lower highs. Recently, once again, EURUSD reversed from the 1.06 zone low, but its ascent was halted just below the descending trend line, followed by a resumption of the downward movement. Moreover, the recent rise forms a bearish flag pattern, further reinforcing the overall bearish sentiment. Key support lies at the 1.07 zone, and a breach here could initiate a new downward movement. Subsequently, the next significant support levels are at 1.06 and 1.05. My bearish outlook persists as long as the price remains below 1.0820.
Short
by Mihai_Iacob
Silver- Rise towards 30usd In my earlier analysis of OANDA:XAGUSD , I emphasized that bulls ought to monitor the price action closely, as Silver's correction might have concluded and previous resistance could now serve as support. As anticipated, following a double Pin Bar formation in that area, Silver's price began to ascend, currently trading at 27.60, around an interim resistance level. Given the bullish trend and the broader market structure, I anticipate a breakthrough above this level, leading to a continuation towards the $30 mark. However, if the price falls below yesterday's low, it would temporarily halt this bullish scenario.
OANDA:XAGUSDLong
by Mihai_Iacob
Gold- Has it bottomed out?After reaching the all-time high in mid-April, OANDA:XAUUSD , as normal, began to correct lower. As I correctly anticipated at that time, it dropped by 1,000 pips and fell below 2300. However, around the 2280 level, which I had previously highlighted, bulls entered the market and pushed the price up every time it dipped in that zone. Friday's NFP report brought significant volatility, with a daily range of over 500 pips. Nonetheless, the market closed above 2300 once again. The inability to drop below the 2280-2290 support zone could indicate a bottoming process. With the long-term trend strongly bullish, further growth can be expected in the future if this support holds. Confirmation of a bottom would come with a daily close above the 2320 zone. In this scenario, the next resistance to watch for is the 2355-2360 zone. However, if bulls fail to maintain the 2280 level, a sharp drop could follow, especially considering the high number of stop losses placed below this zone.
OANDA:XAUUSDLong
by Mihai_Iacob
4
Gold cound continue down after correctionAs I mentioned yesterday, following the substantial decline observed on the last day of April, OANDA:XAUUSD could potentially rise and test the resistance zone around 2315. Indeed, Gold rose even further to the 2330 zone before beginning to decline once more. In my view, the medium-term trend for Gold has shifted to bearish, and I anticipate a new decline below 2300 following this rise. My strategy is to sell rallies with a target around the 2270-2280 support range.
OANDA:XAUUSDShort
by Mihai_Iacob
1
Alikze »» DOGE | Wave 3 of 3 big bullsIn the weekly time after a three-wave correction in the range of the green supported box. Currently, it has a three-wave upward movement that has completed a complex combination correction in the form of wave 2 and is currently in wave 3 of 3, wave C or 3 big. Therefore, I expect it to touch the specified targets on the chart after the supply zone is broken according to its strength. »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Sincerely.❤️ »»»«««»»»«««»»»«««
Long
by alikze
7
Gold could rebound, but trend is bearish on medium termFollowing a very choppy price action that finalized a flag pattern, OANDA:XAUUSD experienced a significant decline yesterday, amounting to a drop of 500 pips, breaching crucial horizontal support levels at 2315 and the 2300 mark, nearly reaching the support zone at 2270. After such a substantial decline, a rebound is possible, though the medium-term trend currently favors a bearish outlook. Resistance is now anticipated at 2315, presenting potential selling opportunities within that zone. Conversely, a test of the 2270 support level could provide short-term traders with a favorable buying opportunity for a correction above 2300.
OANDA:XAUUSD
by Mihai_Iacob
Lingrid | BITCOIN breaking through the CHANNELBINANCE:BTCUSDT is slowly climbing upwards. It is about to potentially break through the downward channel border and update the highs. The market broke and closed above the significant level at 65,000. Also, it broke the structure, making higher highs and higher lows. I expect a short-term rollback to the support level, then growth from the support level to recent higher highs. My target is the key resistance zone at 70,000. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Long
by Lingrid
12
Gold could rise to test resistanceYesterday, OANDA:XAUUSD dipped below the 2300 mark, aiming to test the support zone around 2270. However, despite two attempts to continue downwards, the price swiftly reversed above 2300 each time. The second reversal was even more pronounced than the first, resulting in a 400-pip increase in price. At present, Gold is trading around 2225 support zone. A decisive break above this level could signal further upward movement, potentially testing the resistance zone at 2360. As long as the newly established short-term support at 2315 remains intact, my outlook is bullish.
OANDA:XAUUSDLong
by Mihai_Iacob
1
GbpUsd- My target remains intact, so, where to sell?As you're aware, I've held a strong bearish stance on FX:GBPUSD , not only anticipating a drop below the 1.25 support level but also expecting a plunge to the 1.2 level. So far, this prediction has been on point. Last week, cable confirmed its weakness as all rallies were sold off, failing to even retest the broken 1.25 support level. Maintaining my bearish outlook, I anticipate further downside momentum, potentially reaching 1.2. Regarding entry points for short selling, if you're not already in a short position, the optimal level would be around 1.24. However, given yesterday's price action, rallies above 1.2350 should also be viewed as favorable opportunities for entry.
Short
by Mihai_Iacob
5
1000 pips drop for XauUsd remains my STRONG convictionAs you're aware, I maintain my expectation for a significant correction in the price of $OANDA:XAUUSD. Despite this correction not materializing yet, my confidence in this outlook continues to strengthen each day. Yesterday proved to be relatively quiet for XAUUSD, with the price exhibiting range-bound movements during both the London and New York sessions. However, overnight, during the Asian session, Gold experienced another spike above 2400. This upward movement was swiftly reversed, suggesting that it was driven primarily by emotional reactions to "war" news. From a technical standpoint, the signs indicating a market top are becoming increasingly evident, especially following last Friday's blow-off top and today's reversal. Support currently rests around the 2365-2370 range, and once this level is breached, I anticipate a descent to 2325. Furthermore, considering the broader market structure that would unfold if Gold reaches this level, a decline to the 2280 zone appears inevitable. Any prices exceeding 2400 (if it reaches that level again) should be viewed as opportunities for selling.
OANDA:XAUUSDShort
by Mihai_Iacob
Ethereum- Back to 4k, confirmation is needed thoughAfter breaking below the horizontal support level in the 3.2k zone two Saturdays ago, BITSTAMP:ETHUSD remained below this crucial level throughout last week. However, after initially reversing upon touching 2850, Ethereum tested that level again and reversed once more on Friday, forming a prominent daily Pin Bar on our chart. As of now, the price has returned to the resistance zone (the former support), and a break back above it would indicate a false breakout and the completion of the correction. I am bullish on Ethereum and am inclined to buy on dips. My target is a retest of the 4k mark.
BITSTAMP:ETHUSDLong
by Mihai_Iacob
4
Gold- Lower high forming, or correction done?In my post from yesterday, I mentioned my expectation for a new drop of 500 pips in $OANDA:XAUUSD. However, despite the price dropping by around 400 pips during intraday trading, my sell order placed just above the 2400 zone was not filled, resulting in me missing out on this drop (my target was hit but not my pending sell) Upon reviewing the chart, it's evident that while my bearish outlook remains unchanged and I still anticipate Gold needing to drop below 2300 to complete the correction, the situation is not as straightforward as initially thought. The swift reversal following the drop below the 2360 support zone is not very encouraging for bearish sentiment. Additionally, considering the prevailing bullish trend, it's important to acknowledge that trading on the sell side entails trading within a correctionary phase. Nevertheless, there is a silver lining amidst this uncertainty. We now have two distinct levels to reference in our analysis on a daily closing price basis: 2390 and 2360. A close above or below either of these levels could provide a clearer indication of market direction.
OANDA:XAUUSDShort
by Mihai_Iacob
6