The upward momentum changed when price closed and opened below the white L-MLH. The rules say, that when price is leaving the Fork, open and close outside, we can expect a test/retest at the L-MLH. This is exactly what happened. Shorts got squeezed by a GAPer of the Market Makers move. And I admit, I could imagine a further rise for a third test at the L-MLH. However, SMH is being observed very closely from now on.
Hello everyone, let’s take a look at the gold price forecast! The global gold price has slightly decreased, with spot gold dropping by 3.3 USD to 2,637.1 USD/ounce, while gold futures fell by 7.8 USD to 2,646.9 USD/ounce. This decline can be attributed to the rise in the yield of 10-year U.S. Treasury bonds, which has reduced the appeal of gold. Investors are currently awaiting economic data to determine the Federal Reserve’s interest rate path, especially after the Fed indicated it will cautiously cut interest rates this year. Additionally, the tariffs and protectionist policies proposed by President-elect Donald Trump could lead to a resurgence in inflation. Important data, such as the non-farm payroll report and the minutes from the Fed’s policy meeting, are set to be released soon and could affect expectations regarding interest rates. Looking at the technical chart with resistance and support levels at 2,660 and 2,623, I believe that if gold cannot break through the 2,660 USD/ounce resistance, it may continue to adjust down to the support level of 2,623 USD/ounce. If gold breaks through this support level, the downward trend may continue, with the next target being a lower price range.
As discussed throughout my yesterday's session commentary: "My position: I have engaged another re-Sell order with #2,636.80 entry point (optimal Target remains #2,622.80 Support in extension. If #2,627.80 gets invalidated Gold will extend the Selling sequence, if however #2,627.80 rejects the Price-action, I will close my order there and remain on sidelines." I have closed my second Selling order with Target hit (#2,636.80 - #2,622.80) on a fine #14-point run extending my results range to #109 Profits and #21 Stop-loss hits regarding December #2023 - January #2024. Technical analysis: Gold has made an important Bearish step towards full scale Hourly 4 chart’s reversal as it almost tested the #2,608.80 pressure point. That makes Hourly 4 chart practically Bearish side, however well Supported at #2,600’s, which has held and rejected the downside attempts on multiple occasions. Hourly 4 is still Neutral as said, however invalidated Ascending Channel on Hourly 1 chart has expanded giving me Selling signs that Gold may test #2,600.80 benchmark even before positive NFP numbers (if debacle happens again, Gold can engage aggressive uptrend towards #2,662.80 strong Resistance in extension). Fundamental analysis: Gold was mainly correlated with DX during last #6 Months of the Year and probability that January will also be DX Month is (#91%) since Bond Yields were on uptrend and invalidated wall of Resistances, and Gold was also on Short-term recovery which confirms my Gold - DX correlation on January opening, so look for pointers there. Remember, when you are unsure of the Medium-term direction on Gold always look for clues on DX and Trade accordingly. Only when DX Trade on Daily and Weekly chart’s (#1W) Lower High's I will be able to note with a higher degree of certainty that the Bearish reversal on Gold is sustainable. Since #2,600's held as a Support zone, Gold Naturally found Buyers. My position: Gold is Neutral Rectangle and keep #2,652.80 as your reversal zone and ideal re-Sell entry point. If #2,627.80 Support gets invalidated, I will pursue #2,600.80 benchmark in extension. I will Trade the break-out.
hello traders! in M15 gold reject many times its resistance zone 2645 now its want selling direction at 2644 and its technical target is 2615
That thing is too long for a bull flag now and therefore a bearish scenario is forming (medium confidence) support lines are complicated therefore a box with its higher and lower levels of interest marked in white lines mild bearish shows us visiting 480s levels mid bearish maybe around 440s levels good places to grab some cheap TAO as Long term scenario we are very bullish as per analysis https://www.tradingview.com/chart/TAOUSDT/3PdpBEXz-Short-term-correction-over-long-term-momentum-returns-for-TAO/
Hi guys, Macro view on Pernod Ricard Hard to tell the shape of the correction for now. Could be either a zigzag or a flat ... let's see how it goes in the next months. Like for support :)
CHFJPY (1D Timeframe) Analysis Market Structure: The price is testing a trendline resistance, which has previously acted as a barrier to upward movement. A bearish engulfing candlestick pattern has also formed near this resistance zone, indicating potential selling pressure. Forecast: A sell opportunity is anticipated as the price faces rejection from the trendline resistance, supported by the bearish engulfing pattern signaling downside potential. Key Levels to Watch: Entry Zone: Near the trendline resistance after confirmation of rejection. Risk Management: Stop Loss: Placed above the trendline resistance or the high of the bearish engulfing candle. Take Profit: Target the next support levels or Fibonacci retracement zones for potential downside targets. Market Sentiment: Bearish signals suggest sellers may take control if the price remains below the trendline resistance, maintaining downward momentum.
Inverted chart. Inverted head and shoulders is clearly seen. After a failed attempt for breaking the shoulder looks like FWB:IOTA wants to try again. So two scenarios can happen: 1- Price will reach 0.50$, after that it will face a rejection, so the second attempt fails and in that case IOTA can touch its previous ATL again. 2_ Bulls are turnt enough to break the shoulder, price stays above 0.50$, and the previous ATH can be touched. Before anything, FWB:IOTA should break the $0.42 resistance. If that doesn’t happen the price can reach $0.20 but it’s really unlikely to happen, I’m still thinking that IOTA will try to break the shoulder with another attempt. So it’s either $0.42 is broken >>> $0.50 is broken >> previous ATH or even a new High. Or The price is rejected at $0.42 >>> $0.20 can be touched >> then either the previous ATL will be touched if things get bearish or a again, another try for breaking $0.50 can happen from there.
HBAR/USDT: Retest in Progress, Pump Imminent ? HBAR/USDT has successfully broken out of its key resistance zone and is now retesting the breakout level ?. This retest phase is crucial and could confirm the start of a strong bullish trend ?. With momentum building up, a significant pump might be on the horizon. Key insights: 1. Breakout confirmed: HBAR/USDT has cleared a critical resistance level, indicating strong buyer interest ?. The ongoing retest could establish this level as a new support zone, paving the way for a bullish rally ?. 2. Volume support: Watch for increased trading volume during the retest and the next upward move to confirm sustained bullish strength ?. 3. Bullish momentum: Indicators like RSI and MACD are showing positive trends, signaling potential upward continuation ⚡. Steps to validate the pump: Monitor the retest: Ensure that the price holds above the breakout level on the 4H or daily timeframe ✅. Look for bullish candlestick patterns, such as engulfing candles, as confirmation of a successful retest ?. Volume confirmation: A surge in volume after the retest can indicate strong buying pressure ?. Be cautious of a failed retest or a fakeout, as these could lead to short-term pullbacks ⚠️. Risk management strategies: Place a stop-loss below the retest zone to protect against unexpected reversals ?. Adjust position sizes to match your risk tolerance and trading plan ?. Set realistic profit targets and monitor for signs of weakening momentum as the price rises ?. HBAR/USDT is gearing up for a potentially explosive move, but patience and discipline are key. Stay vigilant and wait for confirmation before taking action ?. Disclaimer: This analysis is for educational purposes only and not financial advice. Always DYOR before making investment decisions.
ICP is having a possible bullish scenario as long as it's above the invalidation red lines. Although the counting of the major (3) is forced, but it's what I find most fitting. Breaking $9.72 then $6.83 cancels this idea. Passing $15.89 is a bullish confirmation and would take the price to $40 : $60 as a start.