ounter-Analysis (Bearish Scenario Instead of Bullish) Rejection at Resistance Instead of Breakout The targets assume that price will move past resistance zones at $69-$71, but resistance could hold, causing a reversal. If sellers step in near resistance, we could see another leg downward instead of a rally. Support Failure Instead of Bounce The chart suggests that crude oil will bounce from support (~$66.89), but if selling pressure increases, the price could break below support instead. A break below $65.85 (strong support) could send USOIL toward lower levels ($64 or below). Lower High Formation Instead of Uptrend If oil fails to break above resistance and forms a lower high, it could indicate continued bearish momentum rather than a bullish reversal. The previous downtrend might still be intact, with this current move just being a retracement before another drop. Fundamental Risks Macroeconomic factors like higher interest rates, reduced demand, or increased oil supply could prevent a bullish rally. If economic data suggests slowing growth, oil prices could struggle to push higher.
AUD/CAD is moving in an uptrend after finding support at 0.8855. This means the price dropped to that level, but buyers stepped in, stopping it from going lower. Since then, the price has been rising steadily. Right now, the pair is following a pattern of making higher highs and higher lows, which shows strength in the uptrend. As long as this pattern continues, the price is likely to keep moving up.
Hi Traders. "W Style" Pattern at the buttom of a HTF structure has formed. What is a reversal pattern. i think from here, we can expect some more bullish momentum.
"I've shown it on the chart, no need for much explanation. Just a quick scalp position for the night."
On the daily timeframe, gold has broken above the 2930 resistance of the previous consolidation range. Two days ago, a bullish engulfing pattern formed on the daily chart with 2880 acting as a solid support level, confirming its effectiveness. Bullish momentum remains strong, and today's key level to watch is the historical high of 2956.31. If gold tests this resistance and fails to hold, bulls may push toward the 2960-2965 zone. Key Levels to Watch: 2956-2960: ATH resistance zone 2941-2943: Intraday resistance zone 2930: Bullish/Bearish pivot line 2915-2917: Chip accumulation zone 2906: Key intraday short-term support 2880: Strong key support Short-Term Trading Strategy: For SELL: Consider entering if the price breaks below 2937. Watch 2935 for potential support; if the decline continues, keep an eye on 2932, 2928, and 2925. For BUY: Consider entering if the price stabilizes above 2940. Watch 2942 for confirmation; if the price continues to rise, monitor 2945, 2950, and 2956. Disclaimer: This is my personal opinion and not financial advice. Please manage your risk accordingly.
Hello, traders Bitcoin stands at a critical juncture at $80,000, where market participants are engaged in a decisive battle between bullish momentum and bearish resistance. The outcome of this struggle will shape the next major move, with two distinct scenarios emerging. Scenario 1: A Retracement Toward $65,000 If Bitcoin fails to maintain its current momentum, profit-taking and increased selling pressure could lead to a decline toward $65,000. This level serves as a crucial support zone, where demand may re-emerge to stabilize the price before any potential recovery. A break below this threshold would signal a deeper correction, potentially delaying any further upside in the near term. Scenario 2: A Breakout Toward $120,000 For Bitcoin to sustain a move toward $120,000 by late March or early April, the market must see uninterrupted buying pressure over the next 10 days. There can be no hesitation—buyers need to absorb selling liquidity consistently, preventing any major pullbacks. The key level to watch in this scenario is $109,000, a major resistance zone that has the potential to act as the final barrier before BTC enters price discovery. A clean break and consolidation above this level would significantly increase the probability of an accelerated move toward $120,000. At this stage, Bitcoin is at a make-or-break point, and the direction it takes from here will set the tone for the coming weeks. Whether it experiences a healthy correction or an explosive rally depends entirely on how market participants respond at these critical price levels.
The pair is under pressure, and line break shows we are moving south towards 2.0250 as a first stop. The MACD is negative, and RSI is below its MA and SMI is negative, all showing a reasonable chance going lower. Strategy SELL @ 2.0480-2.0510 and take profit near 2.0267 for now.
Drawing a massive triangle between the previous peak of SHIB From that peak price has mainly moved horizontally with not many breakouts Perhaps we will see movement out of this triangle like what was seen in the early bull run for SHIB Speculative idea Weekly timeframe
AUDJPY is Bullish from CP, it may take a retracement at Trendline.
Trend Line in green is a good position for price to reverse in the bulls favor This aligns well with the 0.786 fib line As you can see it has broken down out of a small channel shown in the green dotted section Weekly timeframe