The trend is bearish and from this particular timeframe if price breaks above then we can say that the trend of the market is changing
I am seeing a wyckoff distribution pattern playing out on btc. This pattern also can be seen DXY Nov 2015. Go and compare DXY pattern in Nov 2015 2D tf with current BTC 2D tf where are forming a double top. You will also notice macd indicators etc are the similiar. We are are half way into the distribution phase, we will be testing 87k to liq the longs then pump to new ATH around 120k to form UTAD test before a bear market begins.
This chart illustrates a falling wedge pattern that has completed three key touches at both the support (bottom trendline) and the resistance (top trendline). The price action indicates a weakening bearish momentum, with higher probability of a bullish breakout.
- USDCHF reversed from the resistance zone - Likely to fall to support level 0.9000 USDCHF currency pair recently reversed from the resistance zone located between the key multi-month resistance level 0.9185 (which stopped the daily uptrend last April), the resistance trendline of the daily up channel from September and the upper daily Bollinger Band. The downward reversal from this resistance zone created the daily Evening Star, which stopped the previous sharp upward impulse sequence (C) from December. USDCHF currency pair can be expected to fall to the next round support level 0.9000, the former resistance from December.
Gold prices experienced a moderate increase on Monday, buoyed by thin liquidity in the markets as Donald Trump officially assumed office as the 47th President of the United States. The precious metal, often regarded as a safe haven, found support amidst the uncertainty surrounding the new administration's economic policies. During Trump's inauguration speech, the U.S. dollar (Greenback) weakened, reacting negatively to his decision to set aside aggressive tariff policies that some analysts believe could otherwise lead to inflationary pressures. This shift in tone suggests a more measured approach to trade, which alleviated fears of an impending trade war—an environment generally conducive to gold's appeal. Investors began to reassess how such policy changes could impact inflation and, in turn, the Federal Reserve's monetary policy stance going forward. As of the latest update, XAU/USD is trading at $2,708. Market sentiment indicates a potential short flash bearish impulse on the supply area. Traders are closely watching the $2,680 to $2,650 zone, anticipating a possible retest, which may provide an opportune moment for profit-taking, especially if market dynamics shift in favor of a stronger dollar. From a technical perspective, this supply area will be critical for traders focusing on short-term moves. A rejection of prices at these levels combined with weaker fundamentals could signal a bearish trend ahead, offering potential short plays for those looking to capitalize on market fluctuations. Conversely, if gold holds above these levels and there is a sudden shift in risk sentiment or a renewed spike in inflation fears, we could see gold prices testing resistance levels above the current trading price. In conclusion, with Trump taking office and the markets adjusting to his policies, gold is likely to remain volatile in the near term. Investors should keep a close watch on economic indicators and market sentiment, as these factors will heavily influence gold prices in the coming days. For now, navigating the recent price action within the supply area presents intriguing possibilities for both short and long positions, depending on how the market reacts to unfolding events. ✅ Please share your thoughts about XAU/USD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
? Hey hey, hope everyone's doing well as always. Here we are now at the 20th with Gensler out and Trump now in office. I'll keep this idea brief since I have to leave soon for work so thanks for tuning in! https://www.tradingview.com/x/gEMlXVm3/ ? In yesterday's idea we noted that today would likely be a green and positive day which to say in the least it has been but we'll take a quick look at the technical: https://www.tradingview.com/x/qdjQRqGf/ ? In our 30 minute chart we can see XRP did end up breaking out of the descending channel we highlighted in yesterday's idea so that's been great to see and we just barely pulled up to $3.36 before that reversal started once we hit the resistance. https://www.tradingview.com/x/Z7olQbqo/ ? I decided to add a Fibonacci chart to see if that could help us identify any levels of interest which has worked out! We can see what levels do what now and use those for future reference in the next few hours, days. ? Something of note I wanted to say is that in Trumps America First Priorities speech there was no mention of crypto nor Bitcoin. Investors took that with a heavy heart and we can see things how things sort of revers as the day's gone on understandably. Many we're anticipating trump to make an announcement or executive order on crypto but with that not looking to be the case we're getting this sorta buy the hype sell the news event. ? Doesn't mean we're in a bad position but that's simply what looks to be driving today's market action. I've got to get ready for work but wanted to get those highlights and points of interest out for you guys, keep an eye on those levels and that 200 EMA. ? Thanks for the continued support and as always, keep posted for more till next. ~ Rock '
bullish options chain with rising wedge. looking for 27.50 breakout for 30.00 price target.
CHN50 - 24h expiry A bullish reverse Head and Shoulders is forming. Risk/Reward would be poor to call a buy from current levels. A move through 13150 will confirm the bullish momentum. The measured move target is 13500. Short term RSI has turned positive. Our profit targets will be 13500 and 13525 We look to Buy at 13000 (stop at 12750) Resistance: 13250 / 13500 / 13525 Support: 13100 / 13000 / 12900 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Similar setup as AU here. Strong break up above major demand structure indicating price is likely to give a bigger wave to the upside. Watch pull back or retest opportunities for the next wave opportunity!
AU formed impulse close above major demand structure and also inverse H&S here. Watch the pull back or retest opportunities for the continuation up!