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Confluence

Has the Gold Correction ended? Confluence Analysis (Daily Chart)Gold has been in a Bearish Descending Channel since August 2020 after it hit the $2070 price mark. Price formed a Double Bottom in March at the 1680 Price Area and since then, Gold has been moving in an Ascending Channel since 20th March 2021, with the Black Uptrend line in the Chart acting as support. Gold has broken out of the Descending Channel and is heading towards the Verified Resistance in the 1948 - 2000 Supply Area. Is the Bearish Correction/ Retracement over?? We don't know, but we are expecting a retest of the broken Trendline Resistance. This will tell us if this is a real Breakout or a Fake Breakout. We are expecting the Retest to happen around the 1824 Area which is also a Demand Area. We have Two Strong Areas of Confluence in the Chart. The Two Buy Zones are the Green Circles in the Chart. First Buy Area: 1752 - 1764 (Untested Support + 38.2% Fibonacci Support Level + Retest of Trendline Support) Second Buy Area: 1808 - 1824 (Verified Support + 61.8% Fibonacci Support Level + 100 SMA H4 Chart ) The last Demand Zone is the Proven Support at the 1680 Area. This is a very sweet Chart Setup for different types of Traders. Elliot Wave Traders, Trendline Traders, Chart Pattern Traders, Supply and Demand Traders, Price Action Traders, Fibonacci Traders. What do you think? I would love to hear your comments and suggestions.
OANDA:XAUUSDLong
by Benettel
XAUUSD Analysis complete Inverse Head&Shoulders !.Price is going to touch the confluence zone in order to form one part of the inverse right shoulder before we long price to the moon. Let me explain what the head and shoulder pattern entail and how to trade it.. THE HEAD AND SHOULDERS PATTERN A head and shoulders pattern is a chart formation that appears as a baseline with three peaks, the outside two are close in height and the middle is highest. In technical analysis, a head and shoulders pattern describes a specific chart formation that predicts a bullish-to-bearish trend reversal. NORMAL H&S Left shoulder: Price rise followed by a price peak, followed by a decline. Head: Price rise again forming a higher peak. Right shoulder: A decline occurs once again, followed by a rise to form the right peak, which is lower than the head. INVERSE H&S Left shoulder: Price declines followed by a price bottom, followed by an increase. Head: Price declines again forming a lower bottom. Right shoulder: Price increases once again, then declines to form the right bottom. #forex #forextrading #forexmarket #forex #freebies #forexsignals #instagram #facebook #Divergence If you like this post please leave a like, share, follow and most of all, engage with the post by leaving your thoughts in the comment section.
FX_IDC:XAUUSDLong
by LaBOSS_FX
GBP/USD - TA Update and Fib EntryAt first glance this might seem like quite confusing, let's break it down for you! We have several key levels in price marked on the chart. We have identified the 1.40, 1.41 and 1.42 key psychological whole levels. We have a Fibonacci drawn to highlight a potential long entry. Drawn from the swing low to the swing high, you can see the potential long entry has been highlighted after rejection from the 0.5 Fib level. Use Fibs in confluence to optimise your trade entries. Price is approaching the highs around 1.4164, we're expecting some rejection at this level before a potential reversal. Hope this helps!
by Jal121
GBPJPY Long AnalysisHello! I want to give you some information about this analysis So .. I chose a "Buy" position because the price intersects with several confluences of mine .. E.g. The price is in a demand area, it intersects with my round number, daily support and daily trendline. As we see in the picture, the price retested my area + the round number 150,000 and the Daily trendline Many confluences-Better chance to WIN :3 So that's why I'm going on a purchase here, because I have a good feeling for this pair. Follow me for more explicit analysis..if you like it! <3 Thanks for viewing. If you have different opinions you can write them in the comments section <3
Long
by sergiugeorge
NEOBTC (09-04-2021)Key Support Levels: - Fib Retracement 0.618 level (recent swing low to swing high) - Trendline (Two previous swing lows) - Anchored VWAP (Second & Third previous swing lows) - Fib Speed Resistance Fan (Second swing previous swing low to current swing high) - Key level (Old previous POC and Local LVN) - Monthly level (High time frame) - Fib Channel 0.25 level (High time frame swing highs and low) - Rising Channel Bottom (Previous - Current swing high to swing low) So we got a lot of nice non-biased levels that coincide in one location. I'm predicting that we will bottom out in around 2 weeks (according to fib time) plus we have plenty of reasons to bounce. It will be nice if we see the formation of a bullish reversal pattern heading down toward these levels along with strong bullish divergences. For example, a high time frame candlestick reversal pattern along with a mid/low time frame classic reversal pattern or a bullish harmonic pattern that provides an entry that also coincides with these support levels.
Long
by mcryps
Yields are bringing the yello metal back down to restest S levelBulls have taken price all the way up and they are exhausted at the moment, is this consolidation going on meant for them to gather steam to continue their bull run or is the consolidation for testing the resistance in this level? I believe Gold has touched a confluence over here and the bears are going to take over and bring price all the way to the 1735 area before the next major move. Like I always state, this isn't financial advice, do your own analysis and trade wisely because trading CFD's on margin is very risky for noobs. Have a great one! Cheers!
FX_IDC:XAUUSDShort
by LaBOSS_FX
X marks the SPOT - LITECOIN hits a bullseye on its way outAn important moment for LITECOIN as it reaches FIB level 1.6, AND the possible top trend line AND crosses MACD. It's just ANDing all over the place! It's just hit a bullseye, and is ready to move. Looks like a little mini U dipping in and out from the line. Look for another strong candlestick and then go long onto the NEXT LEVEL BABY. Remember, if you were right and I was wrong... That makes you a better person.... Okay, I admitted it.. GEEZ
Long
by Ifyouonlyknew
USD/MXN Bulls: Tracking the Big Players. What is Next?This pair is now in a Downtrend Market. We are seeing two possible zones where Bulls may enter the market. If the Bulls fail to successfully defend the 20.20 Demand Area, then we expect the market to focus next on the 19.60 Demand Area. The 19.60 Demand Area is a fresh demand zone which has not been tested before. The Buy Zone is the Green Circle. We can use the Fibonacci Levels on the Chart for our Profit Target Levels. First Target TP is 19.97, Second Target TP is the 20.33 Area, and the Final Target TP is 20.58 Area. Supply and Demand all the Way!! Happy Easter, Traders!!
Long
by Benettel