Greetings to all, Pound Cad has been very bullish but is in need of a correction. I would be patient, but if we can see some failure in this zone, I believe we have a nice bear move down.
The structure in the S&P for the last couple days implies a neutral zone market. This means that both buyers and sellers are present with no one group being dominant. The expectation is for a sideways move until we get fundamental information primarily tariff information that will give the market an excuse to rally or break.
- Platinum reversed from support level 905.00 - Likely to rise to the resistance level 970.00 Platinum recently reversed up from the strong long-term support level 905.00 (which has been reversing the price since April of 2024), standing near the lower daily Bollinger Band. The upward reversal from the support level 905.00 created the daily Japanese candlesticks reversal pattern Long-legged Doji which stopped the previous impulse wave i. Platinum can be expected to rise to the next resistance level 970.00 (former support from the end of March, the target price for the completion of the active wave ii).
- USDJPY reversed from long-term support level 142.00 - Likely to rise to the resistance level 144.65 USDJPY currency pair recently reversed up from the support zone between the long-term support level 142.00 (which has been reversing the price from the end of 2023), support trendline of the weekly down-channel from January and the lower weekly Bollinger Band. The upward reversal from this support zone stopped the previous intermediate impulse wave (3) from last month. Given the strength of the support level 142.00 and the oversold weekly Stochastic, USDJPY currency pair can be expected to rise to the next resistance level 144.65.
CRYPTOCAP:BTC structure looks to be repeating it previous consolidation pattern. Could this be its next setup before reaching new all time highs?
? Date: 16/04/2025 ? Time: 02:18 AM ? Current Price: 84,001 USDT Trade Idea: Pattern Identified: Double Top Action: Sell at current price (84,001) Target Price: 80,800 Stop Loss: 86,680 Risk/Reward Ratio: Approx. 1:1.2 Bias: Bearish — anticipating a rejection from resistance and a breakdown toward neckline support. Double Top Pattern Summary: The double top is a classic bearish reversal pattern that forms after an extended uptrend. It is characterized by two consecutive peaks at approximately the same level, separated by a moderate trough. First Peak: The price rallies and then pulls back to a support level called the neckline. Second Peak: The price climbs again but fails to break the first high, forming the second top. Confirmation: A break below the neckline often signals a potential downside move. Disclaimer: This trade idea is for informational purposes only and does not constitute financial advice. Cryptocurrency trading carries a high level of risk and may not be suitable for all investors. Please conduct your own research or consult a licensed financial advisor before making investment decisions.
Hello traders, Picture perfect set-up in the make. No cap needed for this one
Over 200%+ Recoveries. ? Overall Market Structure & Key Observations: Major Cycles & Price Movements: Pre-COVID Drop: Sharp decline (~49.29%) around Feb 2020, consistent with the broader market crash due to COVID-19. Post-COVID Rally: A massive +212.88% rally over 653 days, suggesting a strong recovery and bullish sentiment. First Major Correction: Followed by a -50.81% drop over 354 days—indicative of macroeconomic pressures and sector-specific weakness. Second Rally: Another impressive +228.51% rally over 541 days. Current Major Decline: The most recent bearish leg shows a steep -60.94% drop over 290 days, breaking key support levels. Support/Resistance & Price Targets: Gap-Fill Zones: Two "GAP FILLED" labels indicate prior gaps in price action have now been closed—this often precedes strong moves in either direction due to liquidity. Key Resistance Zones: $86.70: Likely a neckline or prior support-turned-resistance. $101.35 and $130.52: Marked as mid and upper targets in the potential recovery phase. Falling Wedge or Channel: Price seems to be in a falling wedge pattern, which is traditionally a bullish reversal pattern. Volume Analysis: Volume boxes (e.g., Vol 4.81B, 6.13B) are used to emphasize the strength or exhaustion of trends. The declining volume during the last downtrend suggests bearish momentum may be weakening, which supports the reversal thesis. Moving Average (Likely 200-Day SMA): Price is currently below this moving average, showing that MU is in a long-term downtrend—but potential for a reversal is present if the price can reclaim and hold above it. ? Technical Implications Bullish Potential: If the falling wedge confirms a breakout above resistance (~$86.70), a bullish target of $101.35 and eventually $130.52 is reasonable. Volume divergence (less selling pressure) and gap fills suggest the bottom may be in or forming. Historical symmetry in price rallies (over 200%+ recoveries) indicates that the stock is capable of massive upside once sentiment shifts. Bearish Risks: A breakdown below the recent low (around $61.52–$74.21) could invalidate the wedge and trigger further downside. Broader economic concerns (rate hikes, recession fears) could delay recovery. ? Strategic Takeaways For Swing Traders: A breakout above the falling wedge and reclaim of $86.70 could trigger a long entry with a target at $101.35, then $130+. For Long-Term Investors: Historically, buying near these massive pullbacks (-50% to -60%) has yielded high returns, especially post-consolidation. For Risk Managers: Keep an eye on the $61–$74 level. If that fails, it could lead to capitulation. ? Summary Table: Event % Change Duration Volume Notes COVID Drop -49.29% Feb 2020 — Market-wide selloff Post-COVID Rally +212.88% 653 days 9.21B Strong recovery 2022 Correction -50.81% 354 days 4.72B Fed tightening, macro pressure Mid-Term Rally +228.51% 541 days 6.13B Strong bull phase Current Correction -60.94% 290 days 4.81B Present leg, gaps filled, wedge base
Deep retracement within this current TR. Volume price analysis suggest manipulation as price is rising but demand volume is declining, Either supply is deeply diminished allowing ease of movement or is this slow profit taking by larger interest. In a bullish scenario price creates momentum to push, close, and maintain above .64080. In what my opinion is more favorable based on market conditions, price takes out one of the previous highs in this range near .64000 where liquidity rest and resumes the htf downtrend. Catalyst being AUD unemployment rates and Fed Powell Speech, FOMO would likely induce a buy trap / false breakout.
Price is in a strong bullish trend. After 6 bullish candles, we may now see a correction back towards the moving averages as profit taking occurs. This is just an idea of what may happen. Always trade with a profitable strategy and good risk management.