Dear Traders, WE have possible buying opportunities, with the first entry, the only reason that we think that price would reverse is, possible end of year bullish push which may take price to another record higher high. Although, since the price already has rejected we think price is unlikely to reject at the level, and may drop to 75k region. good luck.
Hey everyone! I know a few of you follow my ideas, so I thought I'd post this earlier rather than later—because I don't believe Gala's Wave 2 correction is over yet. After analyzing the price action and a few other key factors, I’ve re-evaluated my position, and things are pointing toward a more complex correction. Corrections Are Like Driving at Night Predicting corrections is tricky—it’s like driving at night. You plan your destination but can only see a couple of feet ahead at any given time. As the journey unfolds, your view becomes clearer. Originally, I thought Gala had completed a straightforward ABC correction. But after reviewing Bitcoin's price action, Bitcoin dominance, and Gala's movement today, I believe we’re dealing with a more complex WXY correction. What Is a WXY Correction? In simple terms, it’s multiple corrective structures connected by smaller "X" waves: Wave W: I believe this was Gala's first corrective wave, a zigzag (ABC correction). Wave X: A smaller corrective wave that connects W to Y. Wave Y: The next corrective structure, which could take the form of a zigzag, flat correction, or something else entirely. I have highlighted this on the 4 hourly chart. I believe we have completed Wave W and I’m closely watching price action and looking for a good exit point around the top of Wave X. Why Do I Think This? Bitcoin Has More Downside Potential. I believe Bitcoin could revisit its previous ATH of ~$73K. If this happens, it will have a significant impact on all altcoins, including Gala. (Check out my BTC idea posted today for more details.) BTC Dominance Signals Market Weakness In November, Bitcoin dominance rejected off the 0.618 level—just like it did in 2021. That event led to a 31% correction on Bitcoin, and corrections across the market. This could repeat. (Refer to my BTC.D idea posted today.) Overbought Stochastic RSI Many altcoins (including Bitcoin) have an overbought stochastic RSI on the weekly chart with a bearish crossover - illustrated above. This signals bearish momentum and has been a nagging red flag for me. Timing Aligns with a Complex WXY If Bitcoin’s correction takes another week or two to play out, it aligns with the possibility of Gala completing a WXY correction. Gala already finished an ABC correction, so this scenario seems logical. Targets Here’s what I’m watching for: Possible exit target for Wave X: Around $0.40–$0.42, I think price will probably baournce off one of the EMA's. Wave 2 Retracement: Could go as low as $0.17 without invalidating Wave 1 however price targets for Wave Y: Target 1: 0.786 Fib Level at $0.02760. Target 2: Weekly Support at $0.02449. I don't know if this is the actual go, but I felt it prudent to share my thoughts so you can at least have time to decide for yourself. I am still bullish, if you read my Bitcoin Dominance idea we are definitely looking good for an altcoin season we just need clarity on what Bitcoin is going to do. It really is at a junction point, of either going up or going down.
lookin for a long here or $3100 Great spot to long here. eth ATHs soon
USDZAR is moving accordingly soo far n likely to hit first target coming week on a favour of USD,8f dollar maintain its strength am expecting to see 19,0000 in coming weeks,please do trade accordingly and use proper money management.
As anticipated in the previous analysis, gold experienced a decline. However, it appears another corrective wave, effectively wave C, may still be ahead. Before the next drop, a slight upward movement in gold prices is not unlikely, allowing sellers to re-enter the market. On the 4-hour time frame, supply zones have been identified. Gold may rise to around $2,660, or alternatively, to $2,680 before resuming its decline. The $2,560 demand zone is the first key support and a potential bearish target for gold.
Analysis of gold trend next week: Based on the current news, data and technical aspects. The trading strategy for next week will be mainly short selling at high levels. First of all, the first pressure level 2638-42 will be the main reference pressure level. Gold can continue to be short when it reaches around 2638-42. The short-term pressure level 2632 will be our final As a defensive position, as long as gold does not break through the 2642 line and stands firm, gold will still maintain a short trend. The closer the price is to 2638-42, the more beneficial it is for us to be short! From the daily and hourly lines, the shorts are pressing step by step, and there is still room for shorts. From the 4-hour analysis, the upper resistance focuses on the 2638-42 line, and the lower support focuses on the 2586-92 area. The intraday pullback relies on this position to continue shorting at high levels, and falls back along the short trend. The daily level is under pressure below this position and continues to maintain the high shorting rhythm unchanged. If you buy more against the trend, please be cautious about the buying point, enter the market with a light position, and strictly set a stop loss. Gold operation strategy: 1. Short sell gold when it rebounds to 2638-2642, stop loss at 2651, target at 2588-2593; 2. Buy gold when it falls back to 2586-2593, stop loss at 2575, target at 2630-35;
https://www.tradingview.com/x/FvGbSwnQ/ Price target around $27 area, give or take, after testing breakdown area with dead bounce.
According to my analysis, the XAUUSD End of Day trend is Bullish from December 23rd, 2024 till 5 trading days . There are support and resistance levels given in the chart may vary in the real-time market. The content provided is only for the educational purposes. Do not trade without stop-loss.
KLAC should find some support here at the 100% FE ABC
the path to 100 is pre-ordained. there is no other alt that has been showing relative strength, dominating CT mindshare, and has a number of upcoming narratives. the decision to make the right choice is yours. HYPERLIQUID. PYTH:HYPEUSD