- Price already near TP 1 - My opinion, price still can go Higher. But better take profit or set BE
The USD/JPY chart on the 4-hour timeframe indicates a potential bullish setup. Here's a breakdown of the analysis: 1. Support Zone & Trendline Confluence** - Price is currently reacting to a strong demand zone** around 149.000–149.500, marked in green. - There's also a visible ascending trendline acting as dynamic support, reinforcing the bullish outlook. 2. Change of Character (ChoCH) & Break of Structure (BOS) - A series of **bearish BOS and ChoCH confirm the prior downtrend. - However, the most recent ChoCH to the upside signals a potential shift in market direction. 3. Target Zone & Resistance Area - The next resistance zone** is marked around 152.000, aligning with a supply area. - This is also the short-term bullish target, as indicated on the chart. 4. Potential Trade Setup - If the price holds above the demand zone and breaks the minor resistance at 150.000, bullish momentum could push it toward 152.000. - A higher low formation** would further confirm bullish continuation. 5. Risk Factors - A break below the **strong low (148.800–149.000) could invalidate the bullish setup and signal further downside. Conclusion USD/JPY is showing signs of a potential bullish reversal. If price respects the support and trendline, it could rally toward 152.000. However, a breakdown below 149.000 would invalidate the bullish bias.
Preferably this trade will plummet down to the target mentioned in the picture
I haven't really posted much on Carney's Harmonic Patterns, but as I was working on some material for The Litepaper, I glanced at dogwifhat's monthly chart and noticed it looked very much like shark pattern - but I wasn't even 80% sure. Had to pull out my notes. Turns out, dogwifhat's monthly candlestick chart is a perfect Bullish Shark Pattern AB = 0.982 of XA → Nearly a 1.0 retracement, which fits within the Shark's extended AB range (0.886 – 1.13 XA). BC = 0.992 of AB → Deep retracement, typical of Shark formations where BC is 0.50 – 1.00 of AB. CD = 1.147 of BC → Falls within the expected 1.13 – 1.618 BC extension for a Shark. XD = 1.125 of XA → Bulls-eye confirmation—Shark patterns complete at 1.13 – 1.618 XA extension, and your 1.125 is right in that range. Given Carney's rules, the targets are the 50%, 61.8% and full reversal of CD: $2.67 $3.04 $4.83 Will be fun to see how it plays out. If there's a dip below $0.40, then it's invalidated.
Right at the edge of going under the 200 ma on daily time frame. The arrow points to the convergence. Bullish gap/death zone down to $68k if the GETTEX:87K support doesn't hold.
OANDA:USDCHF has broken below a key support zone, indicating a potential shift in momentum. The price may now retest this zone, which previously acted as support and could serve as resistance, aligning with a potential bearish continuation. If sellers confirm resistance at this level, the price is likely to decline further toward the 0.88640 target, which serves as a logical level for this setup. Conversely, a break back above the zone could signal a potential bullish reversal. Traders should watch for bearish confirmation signals, such as bearish engulfing candles, strong wicks rejecting the resistance zone, or increased selling volume, before considering short positions. Let me know your thoughts or any additional insights you might have!
I believe that Bitcoin's structure remains bullish. As long as we stay above this channel and don't break down, we can expect a strong move from Bitcoin. Let's stay optimistic! Good luck
We're looking for that previous resistance area around 260-275 to become our new support. Looking for potential buys around that range in the coming weeks/months.
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