Gold's Inverted Head & Shoulders: Bullish Run to $2400?Hi Realistic Traders, let's delve into the technical analysis of OANDA:XAUUSD
Gold has rebounded around the EMA200 line more than three times, simultaneously forming an inverted head and shoulders pattern. Recently, it broke the neckline with a bullish marubozu candlestick, a strong indicator of potential bullish continuation. This breakout, coupled with the bullish candlestick, suggests a likely move to the designated first target area. Afterward, we anticipate a minor pullback before a continued rise to the second target at $2428.
It is essential to note that the analysis will no longer hold validity once the target/support area is reached.
Disclaimer: "Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on GOLD."
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Gold- NFP could bring reversalIn my video yesterday, I mentioned a possible upward continuation for gold and identified 2355 as the buy zone.
Indeed, the price reversed upward precisely from that zone and reached a local high of around 2388.
However, the rise after breaking the resistance is overlapping, indicating selling at higher levels. Additionally, the recent upward movement is contained within a rising wedge, suggesting a potential reversal.
My strategy is to sell rallies around 2400, targeting a level near yesterday's low.
In the longer term, if the bulls are unable to maintain the 2350 zone, there is still the possibility of a drop below 2300.
Lingrid | BITCOIN range BREAKOUT Potentially Leading to $80KBINANCE:BTCUSDT is gradually gaining momentum, breaking through the range zone and breaking through the downward trendline - a significant bullish indication. Moreover, the market has closed above the crucial 70,000 level, as well. Notably, the price action is showing a consistent pattern of higher highs and higher lows, invalidating the previous two highs. I expect a short-term correction to retest the support level, followed by a subsequent upward movement from that support level to the recent all-time high and potentially beyond. My target is the key resistance zone at 73,700.
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Lingrid | LINKUSDT breakout of the CHHANEL and Bullish MOMENTUMFollowing a strong bullish impulse, BINANCE:LINKUSDT has rolled back towards the support level, which is a key area of interest. As we can see, the price is currently consolidating within a range zone, oscillating between the upper and lower boundaries. I believe the price may retest the local high and potentially break out of the channel, which would be a bullish signal. Notably, there is accumulation activity taking place in the 17.00-17.50 price zone, indicating that investors are building positions in this area. Given the bullish trend on the daily timeframe, I expect the price to continue its upward momentum from the support level and break out of the downward channel, providing further confirmation of the trend's strength. My goal is resistance zone 18.400
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Lingrid | GOLD correction and UPWARD CONTINUATIONThe price perfectly fulfilled my last idea. It hit the target. OANDA:XAUUSD has made a pullback to the support level, currently testing the previous daily low and key level at 2350. I believe the market may consolidate within the 2400-2350 range, and potentially continuing the current trend as it has broken out of the range zone. The price is rolling back to retest the pattern, and I expect a retest of the recent resistance zone if the market bounces off the support level. If the market breaks and closes below the support level, it would likely be a return back into the range zone. My goal is the resistance zone around 2378.
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Lingrid | AUDCHF bearish MOMENTUM. ShortThe price perfectly fulfilled my last idea. It hit the target. FX:AUDCHF market has made a significant breakthrough, piercing through the previously established range zone and key level at 0.6000 after forming a double top at the resistance zone. This price action has sent the market towards the lower border of the upward channel. As a result, I anticipate a pullback to the resistance zone and the downward trendline before the trend continues in its new direction. I expect the price to absorb liquidity above the highs and then begin a downward movement, as the daily timeframe has shifted to a bearish trend. My goal is to support at 0.58800
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Hellena | GOLD (4H): Long to resistance area 2404.446.Dear colleagues, the markup turned out to be rather unusual, but I still assume that the price is headed for a correction in wave “4” (2328.823). This may mean that the price will soon start an upward movement at least to the area of the nearest resistance at 2404.446.
After confirmation of this movement we will consider options for further upward movement.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Lingrid | EURUSD NFP Day May LEAD to BREAKOUTThe market has been anticipating the NFP release since Tuesday, and it has been stuck in a consolidation zone. FX:EURUSD is trading around the highs of the last three weeks. A closer look at the weekly chart reveals that the price took out liquidity above those highs, only to pull back and form a fake breakout. If the market rejects this resistance zone, we can expect a downward move. However, if the price breaks and closes above this strong resistance area, we may see a further upward move, potentially reaching 1.1000. Given the current consolidation just below the resistance, I'm inclined to think that the market might be building up for an upside breakout. I expect a spike down followed by a bullish move. It's worth noting that today's NFP release could send the market in any direction. My target is the resistance level at 1.093000.
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Lingrid | GOLD Breakout of the COMPRESSION ChannelYesterday's release of high impact news sparked a surge in the OANDA:XAUUSD market, propelling it above the crucial resistance zone at 2350 and out of the compression channel. This break also cleared the previous week's high. I think, the ideal scenario would be a retracement to the broken trendline level, setting the stage for a continued upward movement. I expect a pullback towards the 2350 key level, where we can assess the situation and look for confirmation of a buying opportunity before targeting the round number at 2390. My goal is the resistance zone around 2382.
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Lingrid | BITCOIN quick PULLBACK from the RESISTANCEThe price perfectly fulfilled my last idea. It hit the target zone. BINANCE:BTCUSDT has finally hit the strong resistance level on the daily timeframe, a barrier that has been holding price movements since March. Despite the overall bullish trend, I anticipate a potential quick retest of the support level as the price action appears to be losing momentum. The absence of significant buying pressure, marked by the lack of large bullish candles, suggests that the market may be poised for a correction. With the price approaching the previous month's high, we may witness a bearish move from this area. I expect a short-term pullback to a key level, where the market may reassess its trajectory. My target is the support level at 70,000
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Lingrid | ETHUSDT continuation of the UPTREND. LongBINANCE:ETHUSDT has broken out of its range zone and triangle pattern, propelling the market upwards with a new extension. Currently, the market is trading above the 3700 level, indicating a strong bullish momentum presence. If price experiences a pullback to support level and downward trendline, I believe it may be an opportunity to buy as the market's upward trajectory is gaining strength. The recent update of swing highs and higher lows suggests a strong bullish momentum. On the weekly timeframe, a significant candle has formed, creating a large buying area from 3700 to 3000. Given the market's break of the range, I expect to see a pullback followed by an ABC correction and subsequent continuation of the uptrend. My goal is the resistance zone at 3930.00
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Lingrid | AUDCAD divergence at RESISTANCE zone. ShortThe price perfectly fulfilled my last idea. It went up and hit the target. FX:AUDCAD has recently tested the resistacne level and bounced back, indicating a strong defense of this key area. Notably, the price has also rejected the zone by absorbing liquidity above the previous higher high, suggesting a potential reversal. Furthermore, the daily chart is displaying a divergence at resistance, hinting that we might see a correction in the coming days. On the 4H chart, a long-tailed candlestick pattern emerged, indicating that bulls were heavily sold off, leaving us with a clear indication of market weakness at resistance. Given these factors, I expect that the price will break through the upward trendline and retest the support level, potentially leading to a reversal or consolidation. My target is support level at 0.90800
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Lingrid | EURUSD Possible Selling OPPORTUNITYThe price perfectly fulfilled my previous idea. It hit the target level. The market reached the resistance zone and then pulled back. FX:EURUSD is currently trading near the channel boundary, and I believe it's likely to break through it due to the significant sell pressure that has been building up from above. The price action has already taken out liquidity above the highs of the past three weeks, which suggests that the market may be poised to move lower. My expectation is that we'll see a two-legged pullback form, which would be triggered by a breakout of the channel. I expect a rejection of the resistance level, which would signal bearish dominance and provide a clear signal to sell the market. My goal is to support level around 1.08443
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Alikze »» ORDI| Return PRZ zoneIn the analysis of the previous post, the alternative scenario occurred and it exited the ascending channel at the 12H time.
💎 But now a multiple compound correction has occurred as seen in the chart.
💎 In the last correction, a 5-wave downward correction was made, which led to channel failure. After that, it faced a demand that is currently suffering in the PRZ area.
Therefore, two behavioral scenarios can be imagined for it in this range.
💎 First scenario: If it can break the current range upwards, it can grow to the specified areas of the next PRZs, which are important areas that can reverse the price.
💎 The second scenario or alternative scenario: But if a break cannot be made in this area and a candle closes above it, the second or alternative scenario will be the continuation of the correction to the next areas.
💎 In addition, if the neck line or the PRZ-1 area is touched, it can create an upward scenario that can re-enter the channel. I will update the post.
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Alikze »»STX | Ascending channel 1HIn time 1H, it is moving in an ascending channel.
💎 The last bullish leg after an unsuccessful break in the supply area of the previous wave has been corrected, which has extended to the green box.
💎 If the area is maintained, it can grow first to the middle of the channel to break the swing and then to the 2.24 range. In the future, it can continue this growth by maintaining the middle of the channel to the top of the channel.
💎 Alternative scenario: In addition, if the green box area is broken, it can continue the correction to the bottom of the channel and then to the range of $1.95.
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Lingrid | SOLUSDT long from RANGE zoneThe price perfectly fulfilled my last idea. It hit the target zone. BINANCE:SOLUSDT 's recent surge saw it break and close above the crucial 170.00 level, delivering a significant bullish signal. Moreover, the market is poised to breach the range zone, which could lead to a breakout. If the market moves above the previous resistance at 175.00 suggests a strong upward momentum. If the market pulls back to the broken level and rejects it, we can expect the current trend to continue, potentially leading to a retest of the resistance at 175.00. My target is the resistance zone at 188.50.
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Alikze → BNB | Upward wave 5 scenario Upward wave 5 scenario Or The end of wave 4 of erosion correction
In the weekly time, the current corrective wave, which is a 4-erosive corrective wave, according to the break of the 250 range, seems to have ended and it can be shifted to the support of the $313 range. Therefore, according to the failure of the current supply area and the dynamic trigger of any correction up to the Fibo area of 1.618 and the range of $313, it can be a pullback to continue the upward path for the specified areas. If the behavior and structure of the post changes, it will be updated.
🟩Sup: 313 ~ 331
⛳️Tp 1:375 ~406
⛳️ Tp2 : 437 ~ 460
⛳️ Tp3 : 608 ~ 615
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Lingrid | GOLD sideways MOVEMENT. Short The price perfectly fulfilled my last idea. After the market broke through the resistance level, it made an impulsive move downward. OANDA:XAUUSD closed below the significant level of 2330 suggests a continued range-bound market until the New York session. However, if the price pulls back from the resistance zone and the upward trendline, I expect a potential selling opportunity. This is because the price has repeatedly bounced off this level in the last days, and the recent big bearish candle that broke through it is a clear indication of its importance. In this scenario, I anticipate the price to retest the equal lows. My goal is the previous support level at 2315.000
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