The S&P 500 has been in an uptrend, characterized by higher highs and higher lows. This suggests that there is a bullish bias in the market, as buyers are willing to pay higher prices for the index. The index recently experienced a retracement to the 50% Fibonacci level, which is a common technical analysis tool used to identify potential support and resistance...
Gold has been experiencing a recent drop in price, which saw it test the ascending trend line on a 4-hour chart. After retracing to the 50% Fibonacci level, the market broke below the trend line yesterday and is currently testing a supply area. If the price also breaks this area, it may indicate a bearish continuation, providing a good opportunity for a short...
AUDUSD has experienced an impulse move followed by a retracement that found support at an important daily level, specifically the 50% retracement level. The price has since bounced off this support level and has been making higher highs and higher lows. There is a key resistance level at 0.70000, and if the price is able to break above this level, it may provide...
The recent drop in the EUR/USD pair seems to have started a retracement, which is a temporary reversal in the direction of a price trend. In this case, the price has reached the 0.382 Fibonacci level, which is a common level of support and resistance used in technical analysis. The presence of an ascending channel, with the price bouncing off the lower trend...
After our previous idea S&P 500 (SPX500) is moving in a series of higher highs and higher lows and tested a Fibonacci 50% retracement. If the price has tested the 0.5 fib level and is currently trading below a daily resistance, a trader may look for a break above the resistance to indicate further bullishness. One strategy could be to place a buy order above the...
NAS100USD on the daily chart has created a triple bottom. The market tested a few times the weekly support at the 10700 level and we notice how after the first 2 tests the market went up for a distribution phase. It is interesting to see the liquidity grab before the next bearish leg to the support where, also thanks to the recent news we had a new inversion at...
Gold is currently in a bullish trend, as evidenced by the ascending megaphone pattern on the 4-hour chart. The ascending megaphone is a bullish continuation pattern that occurs when prices are making higher highs and higher lows, and is characterized by converging trendlines that form a megaphone shape. The upper and lower trendlines of the megaphone can be used...
An ascending triangle pattern in the AUD/NZD currency pair on a 4-hour chart suggests that the market sentiment is bullish, with the price creating higher lows while being contained by a horizontal resistance. This pattern can be considered a continuation pattern, implying that the upward trend may continue if the resistance is successfully broken. In this...
In technical analysis, a distribution block is often viewed as a sign that the market is losing steam after a strong bullish trend. This can be an indication that the market is starting to correct itself, and that the trend may be reversing. In the case of GBP/USD on the 4 hour timeframe, the price breaks below the distribution block and If then will retests the...
The Dow Jones Index is currently facing resistance at the 34,200 level, and the recent speech by Federal Reserve Chairman Jerome Powell has created a bullish sentiment in the market. The trendline for the index appears to be ascending and if the index were to break above the 34,200 resistance level, it could signal a buying opportunity for investors according to...
The EUR/USD currency pair was in an upward trend and moving in an ascending channel on the chart. At the top of the trend, the market grabbed liquidity at the 1.1000 level. This sudden and sharp movement to the upside could signal a potential trend reversal and traders should be cautious. The break of the key support level at 1.1000 lead to further declines and a...
USDCHF on the 4h chart creates a series of lower low lower high inside a descending channel. After the test of the support level at the 0.91 zone the market create an impulse to the upside and is currently testing the previous higher low at a confluence zone. If the market is able to successfully break above the confluence zone, it could signal that the upward...
The EUR/USD currency pair was in an upward trend and moving in an ascending channel on the chart. At the top of the trend, the market grabbed liquidity at the 1.1000 level. This sudden and sharp movement to the upside could signal a potential trend reversal and traders should be cautious. The break of the key support level at 1.1000 lead to further declines and a...
The GBP/JPY currency pair, on the 4-hour timeframe, is currently trading within a range between the recent low and the daily 50% Fibonacci level. The market saw a drop from its previous high, but it has now stabilized within this range. This range-bound behavior can indicate indecision among market participants and a potential lack of clear direction. Traders may...
EURUSD on the 4h chart is trading within a monthly resistance. The price after a distribution phase tested the lower demand and created a strong impulse on Monday. Currently the market is trading at the recent high below a minor 4h resistance. How can i approach this scenario? According to Plancton's strategy IF the price will break above we can set a nice long...
The price is creating a series of higher highs and higher lows is to consider buying on pullbacks to key levels of support. Specifically, if the price is showing a strong uptrend by creating higher highs and higher lows, traders may look to buy when the price pulls back to an area of previous resistance that has now been flipped to support. In this scenario is to...
GBP/USD currency pair on the 4-hour timeframe see the formation of higher highs and higher lows, followed by a distribution pattern at the recent high. This could indicate that the uptrend is still intact and that the market is undergoing a period of consolidation before potentially continuing its upward movement. It appears that the pair is currently trading...
GBP/USD has been in a bullish trend on the 4 hour timeframe, as evidenced by a series of higher highs and higher lows. Recently, the price tested the 50% retracement level and bounced off it, indicating that this level is acting as support. The price tested the weekly support level and bounced off it, creating an impulse to the upper resistance. This is a bullish...