Break and retest at area of interest (AOI) is now showing some rejection. Ready to sell as soon as the sell entry model appear at the (AOI) then we sell.
Chart Analysis: The USD/CAD pair has been in a steady uptrend, but recent price action shows signs of consolidation below the recent highs at 1.4450. The trendline support remains intact, keeping the bullish structure valid. 1️⃣ Key Support Zone: The trendline from October lows aligns near 1.4300, acting as immediate support for the pair. 2️⃣ Moving Averages: 50-day SMA (blue): At 1.4111, providing dynamic support if the trendline breaks. 200-day SMA (red): At 1.3772, indicating the broader bullish bias. 3️⃣ Momentum Indicators: RSI: At 60.26, cooling off from overbought levels, indicating room for further consolidation. MACD: Positive but showing signs of a potential slowdown, with momentum waning slightly. What to Watch: A daily close below the trendline at 1.4300 could trigger further downside toward the 1.4111 support (50-day SMA). Alternatively, holding above the trendline could attract buyers, pushing the pair back toward 1.4450 and potentially targeting new highs. The bullish trend remains intact, but price action near the trendline will be critical in determining the next move. -MW
GBP/AUD has spent the last few days in the price range 2.033 -2.011. The significance of this range is that is is an area of inefficient price delivery on the Buy-side of the market (see Monday 6th April 2020). Once price reached that level, buyers who were only willing to do business at these levels now can price in their orders. My trade idea is to those SELL to those willing buyers at a premium. The failed higher high + the crack in correlation with EUR/AUD suggests that price has changed its state of delivery and now seeking key levels on the Sell-side of the market. I look to sell at the first available retracement and cover my position (buy it back) at the short term lows at 1.97.
This could be a bit early, but Gold very likely wants back into the $2450 support area and possibly a test lower.
base on this current price action i will remain bullish for the alts until 1 week of FEB 2025 after that some alts will having deep correction and some are going to side ways when correction end for the alts during wave C of macro wave B (orange label) all will continue upward. until it will done. macro wave B will be unpredictable it could go to expanded for more upward movement.. currently my count on BTC is micro wave 1. it will soon drop to go to wave 2 or drop to create a macro WxY. hope you enjoy my ideas keep on following me. so i continue publishing my idea here. thank you. follow me also on facebook thank you
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