analysis for EUR/USD: "EUR/USD has recently encountered resistance at a key level and has shown signs of rejecting this price zone. As a result, the pair is now poised to potentially move in a downward direction, signaling a possible sell opportunity. Traders should stay alert and hold their positions as we may witness a significant drop in price. Based on technical analysis, the pair's projected target could be as low as 1.00800, indicating a substantial decline. Keep a close watch on further price action for confirmation before committing to any trades."
Eth is about to break up to closest supply and follow weekly demands lower. Best buy in pricing for the upcoming run.
https://www.tradingview.com/chart/eA5AGsIU/?symbol=BITGET%3ABTCUSDT This is not investment advice but only a learning exercise! THE FIB SPIRAL Fibonacci sequence tools are intriguing and, while not designed for sheer accuracy, these tools when based on prior data (patterns) provide Fibonacci Ratios in a circular arc that connects opposite ends of the Fib tiling. In this analysis, which I have conducted in other charts with great success, I use the Fib spiral to measure the radius of the preceding local high in its downtrend toward a local bottom. As the Fib spiral grows proportionately to fib ratios, I set the first radius as the distance between two major extreme points on the trading chart. This, as well for other Fib ratios, is the main principle and the basis of correctly using the Fib spiral. It is very integral to choose this first radius properly and, if we are successful in choosing this distance accurately, the intersections of the price and Fibonacci spiral marks important price and time targets in the future. The Fib spiral is sort of a forecast tool for time and price targets. It is important to note that I discovered that each intersection point on the Fib spiral indicates an optimal combination ratio between price and time and all the corrections and changes in the direction of a trend occur at all those points where the price and time touch the growing Fibonacci spiral. The fib spiral works, amazingly enough, on the basic premise of selecting the extreme point on a market chart - in this case it is the prior local high with a downward angle consistent with the angle of that prior top-to-bottom downtrend ending the spiral at the local bottom, its first bottom not a future lower low that is part of a separate cycle. In this case, the "width is increased by multiplying the width by a ratio for each quarter turn". The starting point is key and should be a significant point among all data points. It is shown here along with a Fib Circle and a Simple Forecast Fork to show the relevancy of the indicator. Most traders use the prior high as a significant data point and mark the angle to estimate where the next top might be. This is what is shown using the forecast tool as a comparison. Both targets have an eerily similarity, coinciding with the third ring of the Fib Circle, a common destination for even a relatively decent performing asset. Most reference material will describe and define the Fib spiral tool in its ability to "emphasize certain points on the spiral are strong indicators of crucial market events such as levels of support and resistance". (Reference: https://patternswizard.com/fibonacci-spiral/) The referenced source noted above further states that "advocates of the advantages of the Fib spiral iterate that it identifies critical price and time targets rather than simply relying on simple price levels". When measured in conjunction with simple price levels, we have a validated methodology for estimating with relative accuracy where the most significant data points will occur or manifest. Lastly, I will note, as the prior source also indicates, "the exact method of the calculation of the Fib spiral has been a secret". If it ends up coming to pass I will take responsibility for this post at the top of the bull market. Until then, best of luck! This is not investment advice but only a learning exercise!
If Gold is breaking support and resistance time frame in 30 min & 1 hrs we can easily take 60 pipes move in gold both side be ready with risk management
Trader Tom, a technical analyst with over 16 years’ experience, explains his trade idea using price action and a top down approach. This is one of many trades so if you would like to see more then please follow us and hit the boost button. We are proud to be an OFFICIAL Trading View partner so please support the channel by using the link below and unleash the power of trading view today! https://www.tradingview.com/?aff_id=109100
Despite the negative for gold long term outlook, see the related idea, in the short term - one more leg upward is missing to complete the 5-wave formation
After a remarkable bull run from September to December 2024, DOGE concluded its rally with a rising wedge pattern, a sign of exhaustion. This structure also marked the completion of a 5-wave Elliott structure. The breakdown from the wedge came with a clean retest, followed by a significant drop. Current Market Outlook The new year began with a bullish rise, reaching the 0.618 Fibonacci retracement level at $0.364 (drawn from the high at $0.48434 to the low at $0.26216), a great short setup. Presently, DOGE appears to be forming an ABC corrective structure, with wave C in progress. Additionally, a Head and Shoulders pattern is developing, with the neckline sitting close to the yearly open at $0.316. Support and Confluence Zones 1.) Fibonacci Level: The 0.618 Fibonacci Retracement of the 5-wave structure is positioned at $0.2353, which aligns with the Head and Shoulders target for strong confluence. 2.) Fair Value Gap (FVG): There is an unfilled FVG and November’s untested high at $0.22888, which adds significant support confluence. 3.) Trend-Based Fib Extension: Using the Trend-Based Fib Extension from wave B, the 0.786 Fib lies near the $0.2353 - $0.22888 range for further alignment. 4.) Monthly Level: The monthly level at $0.22 strengthens the case for this zone being a critical support area. 5.) Fib Speed Fan: If price drops to the $0.2353 - $0.22 region between January 17th and the end of the month, the 0.75 Speed Fan Fibonacci will also align with the support zone, further emphasising its importance as the fair value trend line. Trade Setups Short Setup: Entry: Around the $0.397 0.618 Fib Retracement level Stop Loss: Above $0.43 Take Profit: Targeting around $0.25/24 Risk-to-Reward (R:R): ~5:1 Potential Long Setup: Entry: Within the $0.2353 - $0.22 support zone (confirmation needed) Stop Loss: Below $0.22 Take Profit: Targeting around $0.275
GBP/USD will retrace from here now and will recover itself I have prepared this chart for and it displays the GBP/USD pair on a 4-hour timeframe. It shows a long-term downtrend from mid-2024 to early 2025. A support level, previously established in an earlier timeframe, is marked near the 1.2200-1.2400 price level. This area serves as a buy entry point, with a target for potential upward price movement indicated. The pair has recently tested the support zone, suggesting a possible rebound. However, its performance is sensitive to external factors such as economic and political developments in the UK and the US. UK Market-Affecting News: 1. Economic Data: GDP Growth : The UK has recently reported slower economic growth, raising concerns about a potential recession. Inflation: Persistent inflationary pressures are impacting consumer spending and business confidence. BoE Monetary Policy : The Bank of England's decision to pause or raise interest rates in light of slowing growth and high inflation could influence GBP/USD. 2. Social Factors: Cost-of-Living Crisis: Rising energy bills and food prices are putting pressure on household budgets, dampening economic activity. Strikes and Protests: Various sectors are experiencing labor strikes, creating additional uncertainties for businesses and supply chains. 3. Political Uncertainty: Discussions on post-Brexit trade agreements, especially related to Northern Ireland, continue to weigh on investor sentiment. 4. Global Factors: Any signs of a US Federal Reserve pivot or sustained hawkishness will directly affect the dollar and, by extension, the GBP/USD exchange rate. These factors should be considered but along with analysis I have shown in the above chart. Key levels: Buy GBP/USD from; 1.21400-1.21200 Target at; 1.23100 SL at; 1.20010 Kindly support me guys if you found this helpful for you. Like comment and share this idea with friends. Share your thoughts in comments below.
Hello Dear Traders! share Your Thoughts In comments Section Thanks For Support Date/13/Jan/2025 current price 1.02170 EUR/USD chart displays a technical setup with key levels and a potential trend forecast: 1. Demand Zone & Support Level: The demand zone and support level near 0.9500–0.9700 indicate significant buyer interest and price stabilization. 2. Order Block: A highlighted consolidation range suggests previous price accumulation, acting as a potential resistance or support zone for future movements. 3. Resistance Levels: Resistance zones around 1.1075 and 1.2275 represent areas where sellers are likely to enter. 4. Trend: The pair has broken a descending channel and is consolidating, with the possibility of bullish momentum from the support level. Fundamentally, overview EUR/USD chart implies a recovery scenario after testing support, contingent on market sentiment and economic drivers like interest rates and macroeconomic data.
Hallo zusammen, lasst uns gemeinsam die Preisentwicklung von Gold in der neuen Woche analysieren und Strategien entwickeln! Zu Beginn der neuen Woche bewegt sich der Goldpreis leicht nach oben und erreicht ein Niveau von 2.690 USD – den höchsten Stand seit Anfang Januar. In der vergangenen Woche zeigte der Goldpreis bemerkenswerte Schwankungen, die durch die wirtschaftlichen Daten der USA und die Erwartungen an die Geldpolitik der Federal Reserve (Fed) beeinflusst wurden. Wochenbeginn: Gold startete mit leichtem Abwärtsdruck, da der US-Dollar nach einem besser als erwarteten Arbeitsmarktbericht an Stärke gewann. Dies festigte die Erwartung, dass die Fed die Zinssätze länger auf einem hohen Niveau halten könnte. Mitte der Woche: Der Goldpreis erholte sich, nachdem schwache PMI-Daten auf eine Abkühlung der US-Wirtschaft hinwiesen, was die Anleiherenditen und den US-Dollar sinken ließ. Wochenende: Gold legte deutlich zu, nachdem die Fed signalisierte, dass sie in naher Zukunft möglicherweise auf weitere Zinserhöhungen verzichten könnte, was dem Edelmetall Auftrieb verlieh. Insgesamt bleiben die wichtigsten Faktoren die US-Wirtschaftsdaten und die geldpolitischen Ansichten der Fed. Aus technischer Sicht und basierend auf meiner persönlichen Einschätzung wird Gold in dieser Woche – zumindest kurzfristig – weiter steigen.