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Gold will continue to grow inside upward channelHello traders, I want share with you my opinion about Gold. The market context for Gold has been firmly bullish since the price broke out of its prior consolidation range, a move that originated from the deep buyer zone. This breakout shifted the market structure, initiating a new impulsive phase that has since been neatly contained within a well-defined upward channel. The price action for XAU has been respecting the boundaries of this channel, creating a clear sequence of higher highs and higher lows. Currently, after being rejected from the channel's upper resistance line, the asset is undergoing a healthy correction movement. This pull-back is guiding the price back towards a significant confluence of support, where the ascending support line of the channel converges with the horizontal support zone near the 3485 current support level. The primary working hypothesis is a long scenario, based on the expectation that buyers will defend this area and maintain the integrity of the uptrend. A confirmed bounce from this dynamic support would signal the end of the correction and the resumption of the primary bullish trend. Therefore, the TP is logically placed at 3610 points, representing a new structural high and a measured objective for the next impulsive wave. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDLong
by LegionQ8
32
Euro will rebound from support area and continue to move upHello traders, I want share with you my opinion about Euro. This chart illustrates how the price entered an upward channel and immediately broke below the 1.0500 support level. After trading for some time within the buyer zone, it dropped to the support line. Following this move, the Euro reversed and started climbing, eventually reaching the 1.0500 level again, breaking above it, and making a retest. The price then continued to rise and later reached the current support level, which coincided with the support area and the channel's trend line, where it traded for a while. Soon after, the Euro broke through the 1.0805 level and remained within the support area for an extended period before climbing to 1.0945. At that point, it reversed and started declining. The Euro quickly dropped to the support line of the channel and then bounced back up. However, it recently fell again to the support line of the channel, where it has been gradually moving higher since. Given this setup, I expect the Euro to decline to the support area before rebounding and continuing its upward movement within the channel. Based on this, my TP is set at 1.1150. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
9
Bitcoin can rebound up from support line, exiting from channelHello traders, I want share with you my opinion about Bitcoin. Looking at the chart, we can see how the price a not long time ago rebounded from the support line and broke the support level, which is located inside the buyer zone (59600 - 59200). After this, the price rose a little more and then made a correction to the buyer zone, after which made a strong upward impulse. Then BTC started to grow inside the upward channel, where it later almost reached the 64400 level, but soon turned around and corrected almost to support line of the channel. Next, the price rose to the 64400 level, but at once turned around and fell below, after which repeated movement to this level again and even entered the support area. Soon, however, BTC turned around and made a correction to the channel's support line, which coincided with the general support line and bounced up, thereby breaking the 64400 level. After this movement, the price made a retest and continued to move up, until it reached the resistance line of the channel. And then price turned around and started to decline. So, I think that BTC can decline to the general support line and then rebound up, thereby exiting from the channel. After this, the price made a retest and continues to move up, therefore I set two TP, first at the 66800 points and second at the 69000 points. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
12
Bitcoin can grow to 63K points exiting a pennant patternHello traders, I want share with you my opinion about Bitcoin. Observing the chart, we can see that the price some days ago started to grow inside the upward channel, where it in a short time rose to a resistance level, which coincided with the seller zone. Soon, BTC broke this level and rose to the resistance line of the channel, thereby later exiting from it and then turning around and starting to decline inside the pennant. In this pattern, BTC at once fell to the 61000 level, broke it again, and later continued to decline next to the support level, which coincided with the buyer zone. Later, the price broke this level and fell to the support line of the pennant pattern, after which at once started to move up and soon broke the 56100 level one more time. Next, the price continued to grow and reached the resistance line of the pennant, but recently it rolled down a little below and now trades near this line. So, in my opinion, BTC can correct to support line of pennant and then start to grow to a resistance level, thereby leaving this pattern. When the price reaches the 61000 level, it can break it and then continue to move up. For this case, I set my TP at 63000 points. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
6
Bitcoin can decline a little more and then make impulse upHello traders, I want share with you my opinion about Bitcoin. Observing the chart, we can see that the price started to decline inside the downward channel, where it some times traded near the 64600 resistance level, which is located inside the seller zone, and later bounced up to the channel's resistance line. After this movement, BTC rebounded from the resistance line and quickly fell lower than the 64600 level, breaking it, after which some time traded below this level and then dropped to the support line of the channel, which coincided with the current resistance level with the resistance area. Then the price started to grow and in a short time rose to the resistance line of the downward channel and left it, after which tried to grow more, but failed and quickly declined to the 59100 level. Also recently, the price broke this level, and made a retest, and at the moment, the price felling lower even than the resistance area. In my opinion, BTC can decline to 56k points, after which the price will turn around and make a strong upward movement to the resistance level. Then it can break resistance level and continue to move up, so, that's why I set my TP at 61000 points. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
7
Gold can break resistance level and continue grow to 2365 pointsHello traders, I want share with you my opinion about Gold. Looking at the chart, we can see how the price a few moments ago price rose to a resistance level, which coincided with the seller zone and soon broke it. After this movement, it made little correction and then rose to 2450 points, and then made impulse down to 2330 level, breaking 2385 level. Then Gold started to trades inside the range, where it some time traded near the current resistance level and some time later price rose to the seller zone, after which turned around and made a downward impulse. Price entered to wedge, thereby exiting from the range and also breaking the 2330 level, which coincided with the buyer zone. Gold fell to the support line of the wedge and then started to grow to the 2330 level. When the price reached this level, it broke it and reached the resistance line of the wedge, but a not long time ago XAU turned around and fell back to the support line of the wedge, breaking the current resistance level one more time. Now, the price trades in the buyer zone, so, in my opinion, it can rebound up from the support line and break the resistance level. After this, the price will continue to grow to the resistance line of the wedge, therefore I set my TP at 2365 points, which coincided with this line. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDLong
by LegionQ8
1
Euro can rebound up to seller zone, breaking resistance levelHello traders, I want share with you my opinion about Euro. Observing the chart, we can see that the price some days ago rose a little and then made a strong downward impulse to the support level, which coincided with the buyer zone, breaking the 1.0740 resistance level. After this movement, the EUR turned around and started to rise inside the upward channel, where it firstly a little rose and then declined to the buyer zone. Price some time traded in this area and soon exited from it, making a fake breakout of 1.0625 level and then rose almost to the resistance line of the channel. But soon it turned around and declined to support line of the channel, after which rebounded up, making a fake breakout of the support level one more time. After this movement, the Euro in a short time rose to a resistance level, which coincided with the seller zone, and not a long time ago rebounded and started to decline. At the moment, I think that the EUR can almost decline to the support line of the channel and then rebound up to the seller zone, breaking the resistance level. So, that's why I set my target at the 1.0760 level, which is located in the seller zone. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
2
Gold can make one more upward move and then start fallHello traders, I want share with you my opinion about Gold. Observing the chart, we can see that the price a not long time ago started to trades in a wedge, where it first rebounded from the support line and made impulse up to the resistance line, breaking the 2145 support level, which coincided with the buyer zone. After this, the price rebounded from the resistance line and declined to the support level, after which it at once bounced and in a short time rose to the resistance line of wedge. But the price at once rolled down to the support line back and then Gold made an upward impulse from this line to the current support level, which coincided with the support area, thereby exiting from the wedge pattern. Soon, Gold broke the 2270 level and some time traded in the support area, after which it a not long time ago rebounded and made impulse one more time. So, in my opinion, Gold can make one more upward move and then start to decline to support area. For this case, I set my target at the 2270 support level. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDShort
by LegionQ8
3