On 1H TF the pair had broken its downward trendline and formed a new high. The price has retraced to fib level of 0.5-0.618. Entry can be taken at CMP with SL below the last low.
Hi traders, were anticipated to hit the target at Asian session or break even. Had 1h bearish engulfing at resistance, and here, had a significant order blocked. Good luck.
This chart represents a technical analysis of XAU/USD (Gold vs. US Dollar) on the 1-hour timeframe. It highlights key levels of support and resistance, trend channels, and potential price movements. Key Observations: 1. Downtrend Channel (Blue and Red Shaded Zone) The price was in a downtrend for a while, forming lower highs and lower lows. Eventually, it broke out of the bearish channel and started moving up. 2. Resistance Level (~2936.674 - Yellow Zone) This area is identified as a strong resistance where price has previously struggled. Price is approaching this level, and a rejection is expected. 3. Current Price (~2890.905) The price is near the intermediate resistance level (~2905.641). The blue arrows suggest a potential small pullback before testing the strong resistance (~2936.674). 4. Bearish Scenario If price fails to break 2936.674, a drop towards 2834.040 (red support zone) is possible. The arrows show a possible lower high formation leading to a downtrend. Trading Plan: Sell Setup (Short Position) If price rejects 2936.674, consider shorting with a target around 2834.040. Confirmation: Bearish candlestick patterns at resistance. Buy Setup (Long Position) If price breaks above 2936.674, it could continue higher. Confirmation: Strong breakout candle with volume. Conclusion: This chart suggests a strong resistance at 2936.674, and price might reject and fall if it fails to break this zone. However, if bulls push higher, an uptrend continuation is possible. Would you like a more detailed breakdown or trade suggestions?
On daily time frame, Sellers still holding on as the price didn’t breakthrough with a body candle stick leaving a price balance range on lower time frame which indicates a strong reversal going bearish, if the BPR gets respected it will continue to go down.
NVDA finally broke down below its major uptrend it has been in since February 2024. It did move below briefly recently during the DeepSeek sell off, but quickly reclaimed. This time it has fallen much farther below so I'd say it's a bit more concerning for bulls. It did bounce and hold right around that low it made the last time it broke, but this looks like a stronger break that has a better chance of staying below. This is mission critical for the broader market and if it can't reclaim quickly, it is likely a signal of a longer term correction for the stock itself and the entire market. It will be very important to watch moving forward. First downside targets are 97.40 (previous double top and ATH) and 90.69 (August 2024 low).
? CRYPTOCAP:XRP Market Update Welcome to today's analysis! Let’s break down the current price action on CRYPTOCAP:XRP and its potential movement. ? Overview: CRYPTOCAP:XRP Approaching Key Support ? CRYPTOCAP:XRP is approaching the green support zone, a key level where buyers might step in to trigger a bounce. ? Current Scenario: If CRYPTOCAP:XRP holds the green zone, we could see a bounce from this level. The market is currently forming a lower high (LH) structure, indicating that the downtrend is still in play. For the trend to turn bullish again, CRYPTOCAP:XRP needs to break above the last LH, confirming a shift in momentum. ? Key Levels to Watch ? Support Zone: Green Level (Potential bounce area) ? Lower High (LH) Resistance: Needs to be broken for a bullish trend confirmation ?️ Trade Scenarios ? Bullish Scenario (Bounce from Support & Break Above LH) If CRYPTOCAP:XRP holds the green support, we could see a bounce leading to an attempt to break the previous LH. A confirmed breakout above the LH would signal a bullish trend reversal. ? Bearish Scenario (Break Below Support) If CRYPTOCAP:XRP fails to hold the green zone, the price could continue its downtrend, leading to further declines. ? Conclusion CRYPTOCAP:XRP is at a key decision point—a bounce from the green support zone followed by a breakout of the LH would confirm the trend turning bullish again. If the price fails to break above the LH, the downtrend may continue.
This chart represents a technical analysis of the GBP/JPY (British Pound / Japanese Yen) pair on the 1-hour timeframe. It highlights support and resistance levels, key price movements, and potential future direction. Key Observations: 1. Support Level (Yellow Zone - ~189.000) This area has acted as a strong demand zone where price has bounced multiple times. If the price reaches this zone again and holds, a bullish bounce is possible. 2. Resistance Level (Red Zone - ~192.000) This area has acted as a strong supply zone where sellers have stepped in. Price reached this level, got rejected (highlighted with an orange circle), and started dropping. If price moves up again and reaches this zone, another rejection or breakout might occur. 3. Current Price Action (~189.789) The price is between support and resistance, consolidating around 189.800. The blue arrow projections suggest two possibilities: A bullish move if price holds above support. A breakout towards resistance if momentum increases. Trading Plan: Buy (Long) Setup: If price tests the support zone (189.000) and shows bullish confirmation, it can be a good buying opportunity towards 192.000. Sell (Short) Setup: If price reaches the resistance zone (192.000) and gets rejected again, a sell trade could be considered. Breakout Trade: If price breaks above 192.000, it could continue higher. If it breaks below 189.000, further downside is expected. This chart provides a clear roadmap for potential trades based on support and resistance. Let me know if you need a more detailed breakdown!
Hi traders, Market is bears weekly, agreed. But at a daily support, yielding a bullish engulfing candle dominantly. However, 4h, bull are tired, looking for camp to regain energy before a decision is done again. 1H, bearish engulfing at resistance, this indicates bull exhaustion at only 1h frame. Any saturation at that frame, is highly possible.
From the spike we had yesterday, it looks like we have two options. Either we are making an 1-2, 1-2 OR we are not finished with this wave 2.. Considering how fast we went yesterday, usually I don't prefer that to be an impulsive wave. From the many counts and charts Ive studied there is an higher probability its a corrective wave, hence, an X wave in this case. X waves are named "suckers rally" for a reason. The price action we had from the retracement looks like an impulsive wave. This will indicate how we will finish this larger Wave 2. According to how sideways double combos end in this specific pattern set up, we are looking for a zigzag to finish. The B wave should be a 3 wave move to mirror the size and structure of the A wave impulse in the Y wave we are forming. I will be looking around $2.60 ish - $2.80 ish for wave B to finish. Plan to sell some XRP around there. Let's see how it plays out. GOD BLESS AND TRADE ON
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