Brian greets everyone! The USD/JPY pair has retreated slightly from its highs but remains moderately strong near 157.50 during Thursday’s Asian session. The pair continues to draw support from the renewed strength of the US dollar, as risk sentiment deteriorates following weak PMI data from China. Thin market liquidity, with Japan on holiday, could further amplify USD/JPY movements. On the 4-hour chart, the bullish trend remains intact, with significant resistance around the 157.55 level. A decisive break above this resistance could propel USD/JPY to fresh highs, with the next target projected near 157.92, a level established on October 20, 2024.
I am still bearish on Gold based on weekly price action. Bullish confirmation above $2,725
? Setup Overview: We're eyeing a bullish opportunity for SPY. The suggested buy zone lies within the green box area on the chart. This aligns with the 1.382 and 1.618 Fibonacci levels, providing a strong probability for price action reversal. ? Key Levels to Watch: Entry Zone: $563 - $573 Stop-Loss: $556.50 Targets: First Target: $602.30 Second Target: $624.29 ? Strategy: The plan focuses on buying dips, with no intention to short the S&P 500. This setup leverages Elliott Wave analysis and Fibonacci extensions for precision trading. Keep an eye out for validation at the support zone before entry. ? Expected Timeline: Medium-term hold.
ZRO Update ~ 1D #ZRO still maintains its bullish structure. Buy gradually from this Golden Fib Ratio,. with a minimum target of 20%+
Ethereum ( PHEMEX:ETHUSDT.P ) has been on a rollercoaster ride recently, with its price declining from a high of $4,112 to a low of $3,100. After this significant drop, the market seems to be finding its footing, with ETH now trading around the $3,400 mark. Traders are closely watching the charts to determine the next big move. Here’s a breakdown of the possible scenarios and how they might unfold: The Calm Before the Storm: Consolidation Phase At present, ETH appears to be consolidating within a range, oscillating between $3,550 and $3,215. This phase of sideways movement often reflects indecision in the market as buyers and sellers battle for control. For traders, this is a time to exercise patience. A breakout from this range—either upward or downward—will likely set the tone for ETH’s next major trend. If ETH continues to consolidate, it’s essential to avoid jumping into trades prematurely. Instead, wait for a decisive breakout beyond $3,550 or below $3,215 before making any trading decisions. Consolidation can be frustrating for momentum traders, but it also provides an opportunity to prepare for the next big move. Scenario 1: The Bulls Charge Ahead A bullish breakout above $3,550 could signal that Ethereum is regaining its upward momentum. Such a move would likely need to be accompanied by high trading volume to confirm its strength. If this happens, traders may consider entering long positions. However, it’s important to keep an eye on key resistance levels. The $4,100 mark looms as a significant barrier where selling pressure could intensify. This level represents the previous high before ETH’s recent decline and could act as a psychological hurdle for buyers. As such, taking partial profits near $4,100 might be a prudent strategy to lock in gains while reducing exposure to potential reversals. Scenario 2: The Bears Take Control On the flip side, if ETH breaks below $3,215 with high volume, it could indicate renewed bearish pressure. In this case, the price might test the recent low of $3,100 or even dip further into the $3,000 zone. For long-term investors or those looking for value entries, this could present an opportunity to buy ETH at a discounted price. However, caution is warranted if ETH drops below the critical $3,000 level. A break below this psychological threshold could signal deeper weakness in the market and might suggest staying out until signs of stabilization or recovery emerge. Navigating Uncertainty: A Professional Trader’s Mindset The current state of ETH/USDT highlights the importance of adaptability in trading. Whether the market consolidates further or breaks out in either direction, having a clear plan is crucial. Here are some key takeaways for navigating these scenarios: (I) During consolidation: Stay patient and avoid overtrading. Wait for clear signals before committing capital. (II) In case of a bullish breakout: Watch for volume confirmation and manage risk by setting stop-loss orders and taking profits near resistance levels. (III) If bearish momentum takes over: Look for buying opportunities near support levels but remain cautious if prices fall below critical thresholds like $3,000. By preparing for multiple scenarios and staying disciplined in execution, traders can position themselves to capitalize on Ethereum’s next big move while managing risk effectively. As always in trading: plan your trade and trade your plan! Tips: Elevate Your Trading Game with Phemex. Experience unparalleled flexibility with features like multiple watchlists, basket orders, and real-time adjustments to strategy orders. Our USDT-based scaled orders give you precise control over your risk, while iceberg orders provide stealthy execution. Disclaimer: This is NOT financial or investment advice. Please conduct your own research (DYOR). Phemex is not responsible, directly or indirectly, for any damage or loss incurred or claimed to be caused by or in association with the use of or reliance on any content, goods, or services mentioned in this article.
TIA ~ 3D #TIA This support block continues to keep the price from falling any lower. Buy in stages from here with a minimum target of 20%+
Hello, dear traders! The GBP/USD pair has lost momentum, slipping below 1.2550 after briefly climbing above 1.2600 on Monday. Despite early-week pressure on the USD due to falling U.S. Treasury yields, a risk-averse market sentiment has provided support for the dollar, capping the pair's upside potential. Looking ahead, the path for GBP/USD remains influenced by the dynamics of U.S. Treasury yields. A resurgence in yields could act as a catalyst for USD strength, especially with the 10-year yield hitting a seven-month high last Friday. As of Monday, yields hovered around the 4.620% mark, reflecting the market's cautious stance. Adding to the dollar's bullish case are expectations tied to President-elect Donald Trump's anticipated policies. Measures like regulatory rollbacks, tax reforms, higher tariffs, and stricter immigration rules could fuel inflationary pressures, potentially slowing the pace of Federal Reserve rate cuts. This scenario supports a stronger dollar, exerting downward pressure on GBP/USD in the medium term.
This chart appears to represent a harmonic trading pattern, likely based on Fibonacci retracement and extension levels. Here's a breakdown of the key elements visible: Harmonic Pattern (Possibly a Bat or Gartley Pattern): The labeled points X, A, B, C, and D suggest this is a harmonic pattern. The Fibonacci levels (e.g., 0.504, 0.554, 0.886) indicate retracements or extensions of price movements: Point D is the completion of the pattern. The price might be expected to reverse near Point D. W and N Levels: The blue line labeled "W" could represent resistance or the expected reversal zone. The red lines labeled "N Entry" and "N Target" suggest planned entry and exit levels for a trade. Volume and Indicators: The volume bars at the bottom indicate activity during each candle's period. The MACD (moving average convergence divergence) indicator at the bottom suggests potential momentum or trend direction. Trading Plan: Entry at the "N Entry" level might indicate a short trade expecting a reversal from the "W" zone. "N Target" defines the profit target for the trade.
IMX ~ 1W #IMX if you still have Conviction on the coin,. This support block would be a very good buying place for now,. With a minimum target of 20%+
Gap up opening expected in nifty. Expected opening above 23800 level. After opening if it's sustain above this level then expected strong upside rally upto 24050 in today's session. Downside will be occurs in case nifty starts trading below the 23750 level. Downside rally expected upto 23550 support level.