(XAU/USD) on a 1-hour timeframe, Key Observations: • A large “M” or “Inverse Head and Shoulders” pattern is visible, indicating potential bullish or bearish movements. • There is a red “ENTRY ZONE” box, marking a potential sell entry area. • A projected bearish movement is shown, targeting levels around 2,850. • A Stop-Loss (SL) is marked near the 2,920+ level to protect against invalidation of the trade. • Liquidity grab or order blocks are highlighted, indicating potential rejection zones. The setup suggests a bearish breakout expectation, but further confirmation is necessary before taking a trade.
Here’s an idea you can publish on TradingView based on the provided chart: --- ? **Potential Trend Reversal & Fibonacci Golden Ratio Retest!** ? We're approaching a key turning point in the market! ?➡️? ? **Descending Wedge Breakout Incoming?** The price has been consolidating within a descending wedge pattern, typically a strong bullish reversal signal. A breakout from this structure could indicate the beginning of a new impulsive move. ? **Golden Ratio Confluence (0.618 - 0.705 Fibonacci Levels)** The price is heading toward the **golden ratio zone (0.618 - 0.705 Fib retracement)**, a historically significant level for reversals. Buyers might step in, leading to a strong bullish push. ? **Elliott Wave Structure in Play** We're potentially forming the **(1)-(2)-(3)-(4)-(5) wave count**, with wave (2) likely completing near the golden ratio before the next impulsive leg (3) to the upside. ? **Potential Targets ?** If we confirm the breakout, our **first major resistance** lies around the **0.5 Fibonacci level (~36.96)**, followed by the **0.382 Fib (~43.06)**. Beyond that, wave (5) could aim even higher! ? **Bullish Divergence on the MACD & RSI** Momentum indicators are showing signs of reversal, further supporting the potential bullish scenario. ? **What to Watch For:** ✔️ A clear breakout above resistance for confirmation ✔️ Volume increase to support the move ✔️ Retest of broken trendline as support ? If the golden ratio doesn’t hold, deeper retracements to 0.79 Fib (~22.08) remain possible, but for now, bulls seem to be preparing for action! What do you think? ? Are we ready for the next leg up? Let me know in the comments! ? #Crypto #Trading #ElliottWave #Fibonacci #TrendReversal #PriceAction #TechnicalAnalysis --- Let me know if you'd like any adjustments! ??its not financial advice
If it holds this level it looks like GCT went down as a correcting second wave and now the third wave is building along with a tringle
CHN50 - 24h expiry There is no clear indication that the upward move is coming to an end. Although we remain bullish overall, a correction is possible with plenty of room to move lower without impacting the trend higher. Short term RSI has turned positive. 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 13450. We look to Buy at 13225 (stop at 13125) Our profit targets will be 13425 and 13450 Resistance: 13350 / 13425 / 13450 Support: 13250 / 13225 / 13150 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.
As what we saw gold failed to break current resistance of 2926-2927. On the other hand is that what I saw in a daily and H4. gold is forming a flag pattern characteristic. there are high possibility that gold will make a strong drop to the lower trendline of the flag retesting the 2835 support again and making the fair value gap as wel as respecting the bearish engulfing candle last week. so my bias is gold bearish for today 7th march. however if gold manage to break the currewnt resistance. hence the next destination is going to be ATH.
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