On the monthly timeframe, here’s my analysis based on Elliot Wave Theory and observable patterns: Identifiable Pattern: The chart appears to form a 5-wave Elliott Wave structure, consistent with a motive wave (impulse). This structure typically aligns with the principles of an overall bullish trend. Wave Count (Elliott Wave Theory): 1. Wave 1: The initial sharp rally (early price action). Represents the first major bullish move. 2. Wave 2: A corrective phase following Wave 1, marked by a sharp retracement to a support level. Retraces but does not exceed the start of Wave 1. 3. Wave 3: The strongest and longest rally, breaking previous resistance levels. A sharp breakout confirms strong bullish momentum. 4. Wave 4: A consolidation or pullback phase after Wave 3. Does not overlap with Wave 1 (as per Elliott Wave rules). 5. Wave 5: A final rally, potentially ongoing, with price aiming to exceed Wave 3’s high. Potential Correction: After the 5-wave pattern completes, an ABC corrective wave (3 waves) typically follows. This chart does not clearly show whether the ABC correction has fully formed yet, but there are hints of prior corrections between the waves. Additional Observations: Golden Ratio/ Fibonacci Levels: The pattern aligns closely with key Fibonacci retracement and extension levels, suggesting adherence to Elliott Wave principles. Bullish Continuation: If the current price action completes Wave 5 and breaks key resistance levels, the broader uptrend could resume after a correction. This chart shows a classic Elliott Wave structure and could suggest further bullish momentum if the pattern plays out as expected.
XRP Update ~ 1W #XRP So far it continues to maintain its bullish structure. This is Wave 2 of the correction. Buy gradually within this support Block,. for wave 3 of the next increase.
Gold Has Been Trying to break below 2600 From a while now, but the weekly Closing denies more downside move for now before a rebound towards 2645 at least. I am entering in longs as market open. Holding with Stop loss at 2615 and Targeting 2630-2645 as my targets.
Hello everyone, today Alisa will discuss the movements of the EUR/USD currency pair. Let's make some predictions about the price of this pair! After a period of continuous decline, EUR/USD has seen a slight increase, currently trading near the 1.0420 level. This could be a sign of a temporary recovery following recent declines, especially as the euro has faced significant pressure from macroeconomic factors such as the European Central Bank's (ECB) monetary policy and the strength of the USD. The slight increase in EUR/USD recently may be due to investors adjusting their positions after previous sell-offs. However, if the USD continues to strengthen due to high U.S. bond yields or positive economic data from the U.S., this currency pair could struggle to maintain its current upward momentum. If the euro continues to maintain its recovery trend, key resistance levels will be at 1.0450 and 1.0500. These levels act as technical barriers, and breaking through them could open up opportunities for further price increases. However, this will depend on macroeconomic factors such as economic data from the Eurozone or ECB policies. The nearest support level for EUR/USD is currently at 1.0400, which could offer stability if the price continues to decline. Overall, the EUR/USD currency pair will continue to be strongly influenced by global factors, including U.S. and Eurozone monetary policies, as well as macroeconomic indicators such as GDP growth, unemployment rates, and the Consumer Price Index (CPI). Investors need to closely monitor market signals and economic data to make informed trading decisions.
This technical analysis of GOLD illustrates an upward trending structure within an ascending channel, with key support and resistance zones highlighted. Here's a detailed breakdown: Key Elements of the Analysis: 1. Ascending Channel: The chart shows an upward-sloping channel defined by two parallel trendlines (upper and lower). The current price is moving within this channel, respecting the support and resistance levels within it. 2. Horizontal Zones (Support and Resistance): The gray zones on the chart indicate important areas of support and resistance: Support: Zones below the current price where the price may pause or reverse upwards. Resistance: Zones above the current price where the price might face challenges before breaking higher. 3. Possible Scenarios: Two potential scenarios are depicted, indicating how the price could behave: Bullish Scenario (Upward Movement): The price moves toward the lower boundary of the channel (support), holds at that level, and then reverses upward, breaking through nearby resistance levels and continuing to the channel's upper boundary. Bearish Scenario (Downward Movement): If the price breaks below the lower boundary of the channel and the support zone (around 2,600), it may continue falling toward lower levels. 4. Critical Line (Blue Line): The blue horizontal line appears to represent a key psychological level or a significant long-term support area. What to Watch For: If the price holds at the channel's support and reverses upward, this could signal a short-term buying opportunity. If the price breaks below the channel's support and the critical zone (2,600), a deeper decline toward lower levels is expected.
Here’s a complete list of patterns and observations of what I see in the chart: 1. Symmetrical Triangle (Current Pattern): • The price is consolidating with lower highs and higher lows, forming a symmetrical triangle. This is typically a continuation pattern, and given the prior uptrend, an upward breakout is more likely. 2. Ascending Channel (Previous Trend): • Before the current consolidation, the price exhibited higher highs and higher lows, forming an ascending channel that indicates a strong bullish momentum. 3. Double Top Potential: • The chart shows a possible double top forming near the resistance zone of $2.25. If the neckline (support level) breaks, it could signal a bearish reversal. 4. Bullish Flag (Earlier in the Uptrend): • Earlier in the trend, there’s a sharp upward movement followed by a slight pullback in a parallel channel, forming a bullish flag, which is a continuation pattern. 5. Golden Cross (EMA Crossover): • The EMA 55 (yellow line) crossing above the EMA 144 (blue line) earlier in the trend suggests a golden cross, a strong bullish signal. 6. Support and Resistance Levels: • Key resistance is visible at $2.25, while support is around $2.10. These levels are crucial for determining whether the price will break out upward or downward. These patterns provide a detailed picture of XRP’s current and prior price actions, highlighting both bullish and bearish possibilities based on key levels and formations.
Based on the chart you’ve provided, the price appears to be consolidating in a sideways movement, forming a symmetrical triangle pattern or pennant pattern. This is characterized by converging trendlines with lower highs and higher lows. Key Observations: 1.Trend Before the Pattern: There was a strong upward trend leading into the consolidation, which supports the possibility of a continuation pattern. 2.Converging Lines: The highs and lows are narrowing, forming the triangle shape. 3.Volume Decrease: If volume is decreasing during this consolidation phase (not visible in the chart but typically happens), it further supports the pattern. Outcome: Breakout Direction: Symmetrical triangles are neutral patterns, so the breakout can occur in either direction. However, since this follows an uptrend, the probability leans toward an upward breakout (continuation of the trend). Key Levels to Watch: The breakout above the resistance line or below the support line will confirm the next move. If you want a more specific analysis or further details about this formation, let me know! Can’t wait to find out soon! What do you think? ?
from another look .. I think or .. i wish its same to me :)
On the 4hr timeframe BTC shows increasing momentum with price making higher lows, and RSI making higher lows - both an indication of gaining momentum. On the daily timeframe BTC shows hidden bullish divergence as price is making higher lows, while RSI shows lower lows. Both timeframes point towards an indication that we could be at bottom already. Get ready for a new year rally!
At the start of December 28th, gold closed at $2,621/ounce, down by $18 from the highest point during the previous night's session, which was $2,639/ounce. Gold prices today are under pressure due to the sharp rise in U.S. bond yields to 4.63%, prompting investors to shift their capital into bonds for better returns. As a result, the flow of funds into the gold market has been limited, causing the price of gold to decline. Looking ahead to early 2025, I forecast that the potential tightening of U.S. monetary policy will continue to support bond yields and the U.S. dollar. Higher bond yields typically increase the opportunity cost of holding gold, which can exert downward pressure on its price. Additionally, the strengthening U.S. dollar makes gold more expensive for investors using other currencies. Both factors tend to reduce gold's appeal, potentially limiting its price increase in the first half of 2025. From the 4-hour chart, gold is currently in a downtrend. With two important resistance levels at $2,628 and $2,634/ounce, it is unlikely that gold will break through these levels and rise in the near term. While gold may trade sideways to test these resistance levels, it is more likely to retreat and test the support level at $2,615. If there are no major news developments, gold may continue to decline and break through this support level, moving lower.