? Welcome to TradeCityPro! In this analysis, I will be examining the RENDER coin, a project involved in Artificial Intelligence and Real-World Assets (RWA). ? Daily Timeframe: Descending Triangle In the daily timeframe, after breaking the resistance at 6.75 and reaching up to 11.243, we observe a descending triangle forming between these two areas. The price has touched the support at 6.75 multiple times. ? Additionally, the 6.75 area is also significant in terms of Fibonacci levels, lying between the 0.5 and 0.618 zones. The SMA99 is also reaching the candles in this area, turning it into a very strong Potential Reversal Zone (PRZ). ? Market volume within the triangle is gradually decreasing, and now that the price has entered the final third of the triangle, the sensitivity in each candle is increasing. If the triangle breaks in any direction, the volume should also increase; otherwise, the likelihood of a false breakout will rise. ? If the price breaks down and passes below 6.75, the next major support will be at 4.18. A breakdown of the 36.45 level in the RSI would support a bearish scenario. ? For long positions, we first need to wait for the descending trendline of the triangle to break. You can then open a position upon the breakout of this trendline trigger. The main trigger will be at 11.243. However, the range from 11.243 to 13.267 is very strong and, being at the ATH, turns into a significant supply zone. https://www.tradingview.com/x/Ta2TBodC/ ? Final Thoughts This analysis reflects our opinions and is not financial advice. Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
I published this chart a few weeks ago showing the potential for a gorgeous fratcal that's appearing for XRP. Do we dare to dream to see if reach three figures as we continue to soar? There's a few other alternatives that I'll also share some ideas around. But, this could be the best uptick we've seen from any coin... ever.. Good luck and follow and share for more.
D1 and H12 candlestick show a bullish bias. ( Watch 1.21370 as a liquidity zone..) Price will touch this resistance before it climbs all the way to 1.24570 For bears today's news should favor you... I'll update once price gets to 1.24570 P.S. The market will always give you tell tell signs of it's move
The provided charts analyze the S&P BSE Sensex Index using weekly and daily timeframes. In the weekly timeframe, the index is seen maintaining a long-term uptrend, supported by a rising trendline. Recent market correction has brought the index down to a crucial support level, marked as the "Perfect buying zone." This level coincides with both horizontal support and the trendline, indicating a strong confluence for potential price reversal. In the daily timeframe, the index shows a pattern of higher highs and higher lows, typical of an uptrend. The recent pullback towards the support zone suggests a possible end to the correction, with expectations of a bullish bounce. The chart also highlights a scenario where the index could resume its upward trajectory, making this an ideal entry point for buyers. Overall, the analysis indicates that the current price level presents a strategic buying opportunity, supported by technical factors that favor a continuation of the uptrend.
The British pound has edged lower on Thursday. In the European session, GBP/USD is currently trading at 1.2205, down 0.22%. The UK economy climbed out of negative growth for the first time in three months but not by much. After GDP contracted by 0.1% in September and October, November saw a small gain of 0.1%, missing the market estimate of 0.2%. In the three months to November, GDP showed no growth. The small uptick in growth in November was welcome news for the government but the economic outlook is not very bright. The recent "tax and spend" budget will see tax increases take effect in April, including a rise in employer National Insurance contributions. This will hurt the business sector and many firms will cut back on spending and investment, which in turn will dampen economic growth. Inflation remains high and combined with low growth, stagflation is a real danger. Another headache for the government is Donald Trump, who has promised to slap tariffs on US trading partners. The UK is heavily reliant on its export sector and a trade war with the US would be devastating for the fragile UK economy. As well, Trump's protectionist trade polices could lead to higher inflation which could derail much of the progress made to contain inflation. This week's soft UK inflation and GDP reports have raised expectations that the Bank of England will lower interest rates at the next meeting on Feb. 6. In the US, December's inflation release presented a mixed picture, as headline CPI rose for a third straight month, while core CPI eased slightly. Expectations for a rate cut rose in the aftermath of the inflation report, sending the US dollar lower against many of the majors. GBP/USD tested resistance at 1.2242 earlier. Above, there is resistance at 1.2310 1.2176 and 1.2108 are the next support levels
Hello, this is my daily forecast for 16/01/2025. Thank you and curious for your feedback
Pair is making HHHL and respecting MA 21 in day time frame with morning star pattern formation. Trend line resistance is broken and the resistance broken at 1.4374, Triangle break out with MA 200 respected in 1 hr , Trade plan bias long @ 1.4375 SL:1.43678 TP1:1.4384 TP2:1.4390
Gold is approaching a key resistance zone, which aligns with the upper boundary of the ascending channel. This area has the potential to act as a strong barrier, leading to a bearish pullback if sellers regain control. A rejection at this resistance could push the price back toward the $2,698-$2,700 level. If this level holds, it may provide a base for buyers to attempt another rally. However, a failure to hold above the $2,698 level could signal further bearish momentum, potentially targeting lower areas within the channel. Traders should watch for confirmation, such as bearish candlestick patterns or strong rejection wicks, at the resistance zone.
Trade to tuck away in your TSFA - Bottom # 1 - Exhausted Motive - Bottom #2 Exhausted Motive - Climbing Volume - Potential Bottom #3. Have a great day!
Gold breaks the upper side of a 5 month long triangle formation, as well as the parallel channel. Its broken cleanly on the daily, and now an anticipated continuation before a possible retest. Zoomed in, looking at our other idea below, we can see the first targets will be 2740 and 2752. Ultimately, Gold could well be heading towards 3000-3100 after successfully breaking this triangle. https://www.tradingview.com/chart/USCGC/SXDzk43x-Gold-Breaks-Long-Term-Channel-Triangle/