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USDCAD - TRIO RETEST 3️⃣Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 USDCAD has been overall bullish , trading inside the rising channel in blue. At present, USDCAD is undergoing a correction phase, trading within the short-term falling channel in red, and it is currently approaching the lower bound of the channel. Moreover, it is retesting a strong resistance turned support highlighted in green. 🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the green support and lower blue/red trendlines. 📚 As per my trading style: As #USDCAD approaches the lower blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
3
Bitcoin Dump: 54K next support?54K seems to be the most likely support level on the 4-hour chart for Bitcoin/USD. After that 52K . A drop to 48K seems unlikely . But possible. A reminder that this is the 4-Hour Chart. If you zoom out, you will notice that Bitcoin is not yet in a bear market. Technical Analysis tools used: Volume, Ichimoku Clouds, Fibonnaci Retracement, Volume Delta, Support Lines. The Fibonacci Retracement show the next likely support levels which correlates closely with the (orange) support lines. Price action below the Ichimoku Cloud signals the continuation of a bearish trend. The new Volume Delta Indicator shows a divergence of sell volume domination over market price, which leads me to believe a trend reversal is coming soon. (around 52-54k) up-to-date Fundamental Analysis: Good news to consider: Possible ETF unbanning and adoption in China (unconfirmed) World's largest custodian bank, BNY Mellon reports exposure to BTC ETF Halvening in effect First Bitcoin ETF's launched in Asia (Hong Kong) Bad news to consider: CEO of Binance sentencing (30. April 24) Prominent Bitcoin Figures arrested Government crackdowns in US/UK/EU on centralized elements of the cryptocurrency ecosystem (CEX, Custodial Wallets, etc.). Asian Bitcoin ETF's flopped due to low volumes on opening day. Psychological Considerations: must-reach-100k mentality of the Bitcoin community Community psychological barrier against centralization and regulation 50k support Disclaimer The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations.
BITSTAMP:BTCUSDShort
by BTC_Goldkingcoiner
2
Gold - Decision Zone ⚠️⏱Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 Gold has been overall bullish medium-term (daily) and long-term (monthly) trading within the rising channels and wedge patterns in blue and orange respectively. Currently, #XAUUSD is hovering within a narrow range marked in red. Scenarios: 1️⃣ Bullish Continuation For the bulls to regain full control, a break above the upper bound of the red range is needed. In this case, a movement towards the $2500 resistance zone would be expected. 2️⃣ Bearish Correction In parallel, if the lower bound of the red range is broken downward, we expect the bearish correction towards the $2160 demand zone. Which scenario is more likely to happen first? and why? 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
OANDA:XAUUSD
by TheSignalyst
6
GBPNZD - Wait For The Beast 🎶Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 GBPNZD has been overall bullish , trading within the rising channel in blue. Currently, GBPNZD is in a correction phase, approaching the lower bound of the channel. Moreover, it is retesting a strong demand in green. 🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the green demand and lower blue trendline. 📚 As per my trading style: As #GBPNZD approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
3
OP - Enjoy The Ride 🚗Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 OP has been overall bullish, trading within the rising broadening wedge pattern in red. Currently, OP is undergoing a correction phase and it is currently approaching the lower red trendline. Moreover, it is retesting a strong support zone marked in blue. 🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the blue support and lower red trendline acting as a non-horizontal support. 📚 As per my trading style: As #OP approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
IS BTC READY FOR NEW INCREASE TO 68KBitcoin seems the last day in a broken downtrend with here and there what stability. There are some important levels if BTC can hold them, we could see a new uptrend weekend, which weekends are known most of the time on their stability volume. The trend of now. BTC trying to find the right way to get out to new building volume, out of the playing trend. Can this weekend have a new change since we are by the key level that's exactly what we will follow if BTC can break the key level l of 65K with a high chance of 68K There is always a chance there will be manipulation volumes, it depends on building volume and that's hard to count. small changes can always be targeted, its BTC. For day traders, there change noting, since day traders trade depending on what the market shows, this can be short or long at any time. This is not trading advice, markets going on their way.
Long
by SatochiTrader
1
GBPUSD - Following The Trend 📉Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 GBPUSD has been overall bearish , trading within the falling channel in red. Currently, GBPUSD is approaching the upper bound of the channel acting as a non-horizontal resistance. Moreover, it is retesting a supply zone marked in green. 🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the upper red trendline and green supply zone. 📚 As per my trading style: As #GBPUSD approaches the red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Short
by TheSignalyst
3
Market Direction using SPY historical trend patternsFrom a technical perspective, there hasn't been a definitive signal indicating a trend reversal for the SPY 500. Back in May to October 2023, the SPY exhibited a clear "M" pattern or double top, experiencing a drop of approximately 5%, retracing back, and then dropping around 10%, forming the M pattern. If we compare this M pattern with the current price action, we observe a striking resemblance in the market behavior, as the price retraces from a similar percentage drop of around 5%. The question arises: Is the market genuinely recovering, or are we merely witnessing the formation of another M-shaped pattern!
AMEX:SPY
by MESHANL
3
BTC DAILY UPDATE TIME FRAMEBTC NEW daily Time frame update. BTC seems to enter a new green time frame trend for the low time frame. This time frame expects shows for the low time frame green view for BTCUSD. This is not a long-term view but a low-time frame daily view which could change when the trend gains a new range. BTCUSDT changes with time frames UP and DOWN the key is to be consistent and to manage the risk for daily traders. There is no guarantee in the markets, in the end, the trend can go all sides. good study(system) and the right risk management give it an edge.
Long
by SatochiTrader
1
Technical Analysis: Bullish Outlook for USD/JPY Still ContinuesUSD/JPY is currently at multi-decade highs, closing at 155.00. Traders are exercising caution due to increased risks stemming from Japan's forex intervention. The recovery of the US dollar (USD) is bolstering the upward momentum of USD/JPY. From a technical standpoint, the pair is trading above the Simple Moving Averages (SMA), indicating a stable uptrend. However, there are signs of a corrective move, with prices expected to test the 0.5-0.618 Fibonacci retracement levels before resuming a strong upward trajectory
by Stephen_Anders
Downtrend and Short-Term Bullish Outlook for GoldThe price of gold experienced a modest decline towards the end of Tuesday's trading session in the U.S. after reaching a high of 2,334 USD. During the Asian trading session the following day, XAUUSD continued to drop to 2,323 USD, marking a decrease of 0.11%. Despite the weakening of the U.S. dollar following the release of weaker-than-expected U.S. PMI data, gold prices still couldn't sustain their upward momentum. This could be attributed to expectations regarding the Federal Reserve's potential interest rate cuts. From a technical standpoint, there are indications that gold may continue to trend downwards. On the 1-hour chart, the downward trend is supported by technical indicators. Gold prices are currently operating between the Simple Moving Averages SMA 20 and SMA 50, signaling short-term bullishness. Anticipated that prices will test the SMA 50 before potentially experiencing further significant declines.
OANDA:XAUUSD
by Stephen_Anders
9
Market Caution And Challenges EUR/USDThe EUR/USD market is stabilizing around the 1.0700 level after a positive day on Tuesday. However, PMI data from the US dampened the value of the US dollar that day, pushing up the EUR/USD price. At the beginning of Wednesday, the market showed more caution and supported the USD, posing challenges to the rise of EUR/USD. However, despite the market's caution, technical indicators like SMA and RSI indicate that the upward trend is still maintained. The Relative Strength Index (RSI) remains above 50, indicating the strength of the current upward trend. Expectations are for the EUR/USD to continue stabilizing and potentially increasing in the near future.
by Daisy_Anna
1