Solana (SOL) Target #2 Achieved @ $276.73 Solana had a huge move! After a Breakout and Re-test having patience always pays.
Looking at the 4-hour chart of USD/JPY, I see the pair is currently trading around 155.79, with a notable reaction at the support area near 155.50. The 34 EMA and 89 EMA have started to widen their gap, indicating that the bearish pressure is still in place. However, the 155.50 price zone acts as an important psychological support, creating a temporary balance between buyers and sellers. The 34 EMA acts as dynamic resistance near 156.20. If the price fails to break above this level, the downtrend is likely to continue. A break below 155.50 could drag the price to test deeper support at 154.80 – a strong support level in previous sessions. Conversely, if the price breaks above the 34 EMA, the pair could test the higher resistance at 156.80, near the 89 EMA.
Analysis and Prediction: In this analysis of ETHUSDT.P, we are preparing for a potential breakout scenario based on the current market structure and momentum signals. The chart highlights a consolidation phase within a descending triangle, where we anticipate a decisive move above resistance or a retest for confirmation. Key Levels: Entry Zone: Anticipated at 3600, upon clear consolidation and momentum shift. Stop-Loss (SL): Set at 3189, below significant support levels to protect capital. Take-Profit Targets (TP): TP-1: 4400 (Partial exit at 70-80%). TP-2: 4800 (Partial exit at 50%). TP-3: 5800 (Full exit, capturing the extended move). Observations: Breakout Potential: The price has been respecting the descending trendline while maintaining support above critical levels, suggesting a possible breakout soon. Consolidation Zone: Current price action shows consolidation, which aligns with the anticipated entry near 3600 if confirmed by volume and momentum. Momentum Indicators: RSI and MACD align with bullish divergences, indicating growing upward pressure. However, patience for confirmation is key. Volume Consideration: A volume surge will likely validate the breakout, and any weak volume could signal a potential fakeout. Strategy: Wait for Confirmation: Entry will only be initiated after a strong close above the descending trendline with increased volume. Risk Management: Strict adherence to the SL of 3189 ensures limited downside risk. Scaling profits at key levels will optimize returns while managing exposure. Educational Takeaway: This trade plan emphasizes the importance of confirmation before entry and the strategic use of take-profit zones to manage risk and lock in profits. By analyzing market structure and aligning it with momentum indicators, traders can approach setups with higher confidence and precision. Feel free to share your thoughts or alternative perspectives on this trade idea. Let's discuss and grow together!
Bullish Engulfing and Fibonacci Channel Support Last week’s green candle on the weekly chart of NASDAQ:GOOGL has engulfed the main body of the previous red candle, signaling a potential trend reversal. Moreover, the price has respected a key support level within the Fibonacci channel, further strengthening the bullish sentiment. Key Observations: Fibonacci Channel: The stock is moving well within an upward Fibonacci channel, indicating a healthy uptrend. Current support is holding at the midline, confirming buyers' interest at this level. Bullish Candle Formation: A clear bullish engulfing candle pattern has formed, a strong reversal signal. Upside Potential: Based on Fibonacci extensions and channel resistance, the next major target lies at $237, offering a ~20% upside from the current levels. Moving Averages: The price is trading above key moving averages (20, 50, and 200-week), reinforcing a strong bullish outlook. What to Watch: Volume confirmation will be crucial to validate this move. Keep an eye on the support at $173.96 and $167.59 (short-term MAs) to manage risk effectively. ? Trade Idea: A breakout above $196 could provide a clear signal to ride this uptrend. Consider trailing stops as the stock approaches $237 to lock in gains.
CRYPTOCAP:BTC Update: Caution in the Air Ahead of Inauguration Day Bitcoin took a hit leading into tomorrow’s inauguration, currently hovering around $101K, showing signs of downward momentum after failing to secure a new all-time high. The market's hesitation is clear, and for now, it’s all about watching and waiting. In my last breakdown, I emphasized the importance of sticking to what the charts are telling us. We had been printing lower highs and lower lows, signaling bearish structure—until this weekend. Now, we’ve made a higher high, which could indicate a shift, but we’re not out of the woods yet. The key confirmation? A higher low, which we still need to see before calling a trend reversal. Current Game Plan: ? No trade zone for now—patience is key. ? A confirmed break below the red zone? That’s a short setup. ? Holding above it? A long opportunity targeting the trendline resistance. Stay sharp, follow the levels, and let price action guide your next move
The big D is has broken out of downtrewnd while everyone’s calling for an alt season. There is not alt season when BTC.D is above EMA 150 and breaks out of a downtrend. Stick to holding and trading your bitcoin. At this point, nobody cares what the chart say. Everyone’s just following their feelings like a 12 year old girl. If you want to call for alt season, there needs to be signs of weakening dominance of btc. For that, the D must fall below the EMA 150 and break down below the downtrend line, otherwise your just following a mirage.
?Sound on!? ?Make sure to watch fullscreen!? Thank you as always for watching my videos. I hope that you learned something very educational! Please feel free to like, share, and comment on this post. Remember only risk what you are willing to lose. Trading is very risky but it can change your life!
Hello Friends! I hope it will touch the "2666.611" level then it can make some corrections. After her correction, it has more chances to touch the "2666.611" level. But if it create counter setup, then close it instant. Do you have any questions, suggestions, or feedback? Then write a comment or private chat. If you need any help, info, or analysis. Then knock me without any hesitation. …Thank you…
Based on elliot wave, we are in 5th wave. 5 th wave to be extended by wedge formation.first target will be 108K.
OANDA:USDJPY USD/JPY Elliott Wave: Key Waves & Trade Opportunities Elliott Wave Analysis for USD/JPY Identified Elliott Wave Patterns: Primary Wave Degree: Wave 1: Begins at the low around January 9, 2025, and peaks around January 16, 2025. Wave 2: Corrective wave from January 16, 2025, to January 20, 2025. Wave 3: Impulsive wave from January 20, 2025, to January 23, 2025. Wave 4: Corrective wave from January 23, 2025, to the current price level (February 1, 2025). Wave 5: Expected future impulsive wave from the current price level. Intermediate Wave Degree: Wave A: Corrective wave from January 27, 2025, to February 1, 2025. Wave B: Impulsive wave from February 1, 2025, to February 3, 2025. Wave C: Corrective wave from February 3, 2025, to February 5, 2025. Minor Wave Degree: Wave i: Begins at the low around February 5, 2025, and peaks around February 7, 2025. Wave ii: Corrective wave from February 7, 2025, to February 9, 2025. Wave iii: Impulsive wave from February 9, 2025, to February 11, 2025. Wave iv: Corrective wave from February 11, 2025, to February 13, 2025. Wave v: Impulsive wave from February 13, 2025, to February 15, 2025. Potential Future Price Movements: Based on the identified Elliott Wave patterns, the price is currently in a corrective phase (Wave 4 of the primary degree). The next potential movement could be an impulsive Wave 5, which is typically the strongest and longest wave in the Elliott Wave sequence. Trade Recommendations: Long Position: Entry Point: Around 155.644 (current price level). Stop-Loss: 154.969 (below the recent low). Take-Profit: 158.082 (target level based on Fibonacci retracement). Risk to Reward Ratio: 1:2. Short Position: Entry Point: Around 158.082 (Fibonacci 0.618 level). Stop-Loss: 158.874 (above the recent high). Take-Profit: 155.644 (current price level). Risk to Reward Ratio: 1:2. Specific Price Levels: Here are the key Fibonacci levels and support/resistance levels: Fibonacci Levels: 0.382: 156.820 0.5: 156.364 0.618: 155.908 0.705: 155.624 0.786: 155.339 Resistance Levels: 158.082 157.876 157.670 157.464 Support Levels: 156.974 156.774 156.465 156.110 155.654 155.295 155.058 154.841 154.525