The GBP/USD pair is showing signs of a bearish continuation within a well-defined descending channel on the 4-hour timeframe. Price is currently testing the upper boundary of the channel, aligning with a potential reversal zone. Resistance Zone: Price is rejecting near the 1.2875 level, which corresponds to the channel's upper boundary and a potential supply area. Bearish Divergence: The RSI shows signs of exhaustion near the overbought territory, hinting at a possible shift in momentum to the downside. The overall trend remains bearish, and as long as price stays within the channel, the bearish bias will likely prevail. Monitor price action closely for confirmation of the reversal!
GATEIO:QUBICUSDT Qubic is looking to make its next advance past previous all time highs. I have outlined my expectations using a 3 angles of attack. when this thig moves it likes to go parabolic quick. Lots of catalysts coming up in early December and a over all bullish crypto market can sent this thing much higher than people expect in a very short period of time.
1. Current Price Context: The price is trading below a major resistance zone (highlighted in red). It has broken out of a consolidation or smaller rising wedge, indicating bearish momentum. Support Zone: There is a green demand zone below the current price, which is a potential target area for the sell position. 2. Confirmation for the Sell: Bearish Confirmation RSI: Trending below 50, confirming bearish momentum without signs of bullish divergence. MACD: Bearish crossover indicates downside continuation. Stochastic: Overbought and turning downwards, reinforcing sell signals.
The USD/JPY currency pair appears poised for a potential decline, as COT reports reveal a clear bias among large speculators favoring short positions. This bearish sentiment from institutional players starkly contrasts with the optimism displayed by retail traders, many of whom remain positioned long, anticipating a reversal. However, retail sentiment often serves as fuel for liquidity hunts, with institutional strategies targeting stop-loss clusters near key support zones. Historical patterns suggest that when retail traders collectively lean too heavily in one direction, large speculators seize the opportunity to move the market against them. With bearish positioning among speculators and retail sentiment ripe for exploitation, USD/JPY could face further downside pressure. Monitoring shifts in liquidity levels, sentiment extremes, and institutional positioning will be crucial in anticipating the next major move.
USD/JPY is falling towards the pivot which aligns with the 50% Fibonacci retracement and could bounce to the 1st resistance which has been identified as an overlap resistance. Pivot: 149.33 1st Support: 146.85 1st Resistance: 151.60 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
This chart highlights the current price action of Gold Spot (XAU/USD) on a daily timeframe. The chart identifies two critical resistance levels: Target 1 at $2,721.37 and Target 2 at $2,789.73. These levels are potential price targets for bullish momentum following a Fibonacci retracement. The price is currently trading at $2,650.31, showing upward movement towards these targets. Traders may watch for breakout confirmation and volume to validate the continuation of the trend.
The Swissie (USD/CHF) is falling towards the pivot which acts as an overlap support and could bounce to the 1st resistance level. Pivot: 0.8746 1st Support: 0.8632 1st Resistance: 0.8913 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
https://www.tradingview.com/x/YOVNeacQ/ BTC heading to 90K and eventually 13k
The price is rising towards the pivot which aligns with the 38.2% Fibonacci retracement and could drop to the 1st support which acts as a pullback support. Pivot: 1.2859 1st Support: 1.2616 1st Resistance: 1.3044 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
It is difficult to enter the GBP with a neat waveform like the ones in textbooks, but since I am thinking of using the same strategy for the USD/pairs in general this week, I will post an idea ?. The monthly chart shows that the momentum of dollar selling that has continued since April this year is weakening due to the breakout of Monthly chart HL (---purple line M) and the trend line. On the weekly chart, the pound was bought back due to factors such as Thanksgiving, when the US market is not moving and liquidity is low, and the rebalancing at the end of the month (commonly known as the London fix), which I think overlaps with the movement based on the fact that corrections will occur if important support and resistance lines and zones are broken. On the daily chart, return high and the SR zone have been broken out vigorously by the candle leg, but it appears that dead cross MA is suppressing the momentum. on the 4 hour chart, It was actually held down once for 4 hours, and the second attempt was also held down and closed for weekend. Currently, it is moving above the 4-hour MA. Summary. Strategy. 1. Purple curved line. Long. A market pattern where the momentum of buying the GBP from last week remains. The daily chart will see some crrection pushed by dead cross MA on Monday, but it is thought that it will try to rise again from around the 4-hour MA to the purple dotted line. 2. Red curved dotted line. Short. A market pattern where the buying momentum is weak. Short when it breaks through the purple dotted line and returns. Price has Holding down by the weekly zone and daily MA. 3. Gray curved line. If the buying momentum on the daily chart does not stop, wait and see until the next zone, the gray line MSR, or take long position by touching the MA on the lower chart below 4 hours. Happy tradings.