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Correction

EURUSD: Dip and Bounce from Triangle SupportHello everyone, here is my breakdown of the current Euro setup. Market Analysis After reversing from a prior Downward Channel, EURUSD has been consolidating in a large Upward Triangle. This pattern is typically bullish and is defined by a flat horizontal Resistance at the 1.1780 level and an ascending support line, showing that buyers are becoming progressively more aggressive on each dip. An interesting part of this pattern's history is the 'fake breakout' we saw previously, where the price spiked to a local ATH at 1.1920 before falling back inside. Currently, the price is again in a corrective pullback, heading towards the ascending Triangle Support Line for another test. My Scenario & Strategy My scenario is based on the expectation that this Upward Triangle will eventually resolve to the upside. I'm looking for the price to complete its downward movement and find strong support on the ascending Triangle Support Line. A confirmed bounce from this line would be the key signal that buyers are stepping in to defend the trend. Therefore, the strategy is to watch for this bounce. A successful rebound that finally leads to a decisive breakout above the Resistance Zone would validate the long scenario. The primary target for the subsequent expansion is 1.1860, a logical objective for the move that would follow. That's the setup I'm tracking. Thank you for your attention, and always manage your risk.
Long
by Ratner
9
EURUSD Long: Rally Continues in Ascending ChannelHello, traders! The prior price auction for EURUSD was dominated by a wide consolidation range, bounded by the demand zone 2. Within this range, a new bullish structure began to form as an ascending channel, which eventually gathered enough momentum to break out and confirm a new uptrend, shifting market control to the buyers. Currently, the price action continues to be guided by this ascending channel. Following a recent test of the upper price levels, the market has entered a corrective phase. The auction is now pulling back towards a significant confluence of support, located near the 1.1740 DEMAND level, which also aligns with the channel's dynamic support line. My scenario for the development of events is a continuation of the uptrend after this correction completes. I expect the price to find strong support at the confluence of the channel's demand line and the 1.1740 - 1.1760 DEMAND ZONE. In my opinion, a confirmed bounce from this area will signal the end of the pullback and trigger the next impulsive move higher. The take-profit is therefore set at 1.1865, an intermediate target within the channel's structure. Manage your risk!
Long
by heniitrading
6
Euro can Bounce From Wedge Support and Rally to 1.1930Hello traders, I want share with you my opinion about Euro. The market for the Euro has transitioned from a clear trending phase into a more complex corrective structure after the prior upward channel failed to sustain its momentum. Following a significant rejection, the price broke down and underwent a deep correction, which was ultimately absorbed by the major 1.1430 - 1.4000 buyer zone. This level served as a critical pivot, halting the decline and initiating the current market phase, which has taken the form of a large upward wedge. The price action for EURUSD has since been contained within this new pattern, rotating between its ascending support and resistance lines. Currently, the asset is at a key inflection point, having completed a corrective swing down to test the ascending support line of this wedge. In my mind, this sets up a long, rotational scenario. I expect that buyers will defend this dynamic support. A confirmed bounce from this support line would validate the integrity of the wedge and signal the start of a new rally towards the upper boundary. Therefore, I have placed my TP at 1.1930, a target that aligns perfectly with the resistance line of the wedge. Please share this idea with your friends and click Boost 🚀 Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.
Long
by LegionQ8
21
Gold can continue its bullish trend after small correctionHello 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 3270 - 3290 buyer zone. This breakout shifted the market structure, initiating a new impulsive phase that has since been guided by a major ascending mirror line. The price action for XAU has been respecting this dynamic support, creating a clear sequence of higher highs and higher lows. Currently, after reaching a new local high, the asset is undergoing a healthy corrective phase. This pullback is guiding the price back towards a critical confluence of support, defined by the 3622 - 3598 support zone and the ascending mirror line itself. The primary working hypothesis is a long, trend-continuation scenario, which anticipates that buyers will step in to defend this key support cluster. A confirmed bounce from this area would signal the conclusion of the corrective move and the resumption of the dominant upward trend. This would likely initiate the next impulsive wave higher. Therefore, the TP is logically placed at 3720, representing a new potential structural high. Please share this idea with your friends and click Boost 🚀 Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.
THINKMARKETS:XAUUSDLong
by LegionQ8
15
Bitcoin will break resistance level and continue to move upHello traders, I want share with you my opinion about Bitcoin. The market dynamic for Bitcoin has undergone a significant shift, with the prior bearish trend being invalidated by a strong breakout from a downward channel. This reversal has established a new bullish market structure, with the price action for BTC now being methodically guided higher within a well-defined upward channel. This pattern has been confirmed by multiple rotations between its support and resistance boundaries, originating from the 108400 - 109400 buyer zone. Currently, the asset is undergoing a healthy correction after testing the upper part of the channel, and the price is now approaching a critical confluence of support. This area is defined by the ascending support line of the channel and the major horizontal 109400 support level. The primary working hypothesis is a long, trend-continuation scenario, anticipating that buyers will defend this support confluence. A confirmed bounce from this area would signal the end of the correction and the resumption of the primary upward trend. This move is expected to break through the intermediate 117500 resistance level. Therefore, the TP is logically placed at 119600, targeting the upper resistance line of the channel. Please share this idea with your friends and click Boost 🚀 Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.
THINKMARKETS:BTCUSDLong
by LegionQ8
14
BTCUSD: Price Exit from Triangle and Reach Resistance LevelHello everyone, here is my breakdown of the current Bitcoin setup. Market Analysis From a broader perspective, the price of Bitcoin has been consolidating within a wide Range, oscillating between the major Support zone around the 109500 level and the Resistance Zone up to 121200. This lengthy period of balance has now tightened into a more defined triangle pattern, suggesting energy is building. Currently, the price is coiling within the final stages of this triangle, a classic sign of volatility compression. After a recent test of the upper resistance line, the price is in a corrective pullback, heading towards the ascending support line for what I see as a key test of buyer strength. My Scenario & Strategy I'm looking for the price to complete its corrective move and find strong support on the ascending Triangle Support Line. A confirmed bounce from this dynamic support would be the key signal that the next impulsive move up is about to begin, with the goal being a breakout from the top of the triangle. Therefore, the strategy is to watch for this bounce. A successful rebound that leads to a breakout above the Resistance Zone would validate the long scenario. The primary target for this breakout move is the 120000 Resistance level. That's the setup I'm tracking. Thank you for your attention, and always manage your risk.
BINANCE:BTCUSDLong
by Ratner
EURUSD: Correction will ContinuesHello everyone, here is my breakdown of the current Euro setup. Market Analysis From a broader perspective, we saw a significant bullish impulse on EURUSD after the price broke out of a multi-week upward wedge. This breakout carried the price well above the Support 1 level at 1.1780, culminating in a new local All-Time High before entering a corrective phase. Following that peak, the market has pulled back and is now consolidating. Currently, it appears that the price is attempting to build support for another move higher, likely to re-challenge the recent highs. My Scenario & Strategy My scenario is a bearish one, built on the expectation of a failed retest of the recent ATH. I'm looking for the price to make one more push upwards towards the recent ATH. The key signal for this short idea would be a clear and strong rejection from that high, showing that buyers no longer have the strength to continue the trend. Therefore, the strategy is to watch for this failure at the highs. A confirmed reversal would validate the short scenario. The primary target for the subsequent decline is the 1.1795 support zone, which aligns with the Support zone 1 area. That's the setup I'm tracking. Thank you for your attention, and always manage your risk.
Short
by Ratner
5
EURUSD Long: Correction Before Impulse UpHello, traders! A large upward wedge pattern has defined the price auction for EURUSD. This bullish structure has been formed by a series of higher highs and higher lows, with key pivot points establishing the diverging supply and demand lines. The auction has been rotating between the demand zone 2 and the supply zone near the 1.1780 level. Currently, following a rejection from the wedge's upper supply line, the price has entered a corrective phase. This pullback is guiding the auction towards a significant confluence of support. The price is now approaching the ascending demand line, a key area where buyers have previously shown initiative and are expected to defend the trend. The primary scenario anticipates a successful defense of this ascending demand line. A confirmed bounce from this dynamic support would validate the integrity of the upward wedge and signal that the bullish initiative is ready to resume. This is expected to trigger a full rotation back to the top of the pattern, breaking through the 1.1780 demand level. The take-profit is therefore set at 1.1810, targeting the upper supply line of the wedge. Manage your risk!
Long
by heniitrading
2
Gold Pulls Back Within UptrendGold pushed higher to the upper side of the triangle this month, and then also broke above the 3450 area, above both waves D and B swing points. This suggests the contracting range since May is finished and we are now in a new bullish phase, likely the fifth wave on the higher time frame chart. We see metal now in the third subwave of this fifth wave, extending now to 261.8% Fib target. So gold is clearly in an uptrend as long as we trade above 3400, but keep in mind that this higher-degree fifth wave could complete the bull run from the 2023 lows within the next few weeks. But we are not in that final stage yet, looks like more upside after intraday sub wave four pullback., First support is at 3579-3600. So after some slow-down, gold is expected to stay up.
SAXO:XAUUSDLong
by ew-forecast
2
XAUUSD Short: Awaiting Rejection from the Supply LineHello, traders! The price auction for XAUUSD has been defined by a broadening wedge pattern, signaling a period of expanding volatility. This structure has been formed by a series of higher highs and lower lows, with key pivot points establishing the diverging supply and demand lines. This indicates a fierce but structured battle between buyers and sellers within a clear range. Currently, the auction is at a critical inflection point at the top of this wedge. Following a strong rally from the demand line, the price is now directly testing the descending supply line. This is a high-liquidity area where seller initiative has previously overwhelmed buyers, making it a key decision point for the market. The primary scenario anticipates a rejection from this supply line, continuing the rotational pattern within the wedge. The expectation is that sellers will defend this upper boundary and initiate a new downward swing back towards support. A failure to break out higher would confirm the short-term corrective scenario. The take-profit is therefore set at 3595, targeting the upper part of the first major demand zone. Manage your risk.
FOREXCOM:XAUUSDShort
by heniitrading
2
Gold will correct to support area and then continue to growHello traders, I want share with you my opinion about Gold. The market context for Gold has been firmly bullish, with the price action being guided by a well-established upward channel that has defined the trend for a significant period. The structure of this channel has been confirmed by multiple rotations between its support and resistance lines, originating from the deep 3370 - 3390 buyer zone. Currently, after a rejection from the channel's highs, the price of XAU is undergoing a healthy corrective phase. This pull-back has brought the asset into a critical confluence of support, defined by the 3635 - 3615 support zone and the ascending support line of the channel itself. The primary working hypothesis is a long, trend-continuation scenario, which anticipates that buyers will step in to defend this key support cluster. A confirmed bounce from this area would signal the conclusion of the corrective move and the resumption of the dominant upward trend. This would likely initiate the next impulsive wave higher within the channel's structure. Therefore, the TP is logically placed at 3740 points, representing a new potential 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
25
EURUSD - Follow The Bulls Indeed!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈EURUSD has been overall bullish trading within the rising channel marked in blue. This week, EURUSD has been retesting the lower bound of the channel. Moreover, the orange zone is a strong demand. 🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the lower blue trendline and orange demand. 📚 As per my trading style: As #EURUSD approaches the blue circle zone, I will be looking for trend-following 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! ~Richard Nasr
Long
by TheSignalyst
9
XAUUSD Short: Correction After the All-Time HighHello, traders! The prior market structure for XAUUSD was a prolonged consolidation range, from which the price broke out with significant bullish momentum. This breakout initiated a powerful upward trend, with the price auction pushing through multiple resistance levels to establish a new all-time high. This marked the climax of the recent buying initiative. Currently, following the peak at the ATH, the market has entered a corrective phase. Sellers have taken control in the short term, and the price is now declining from the highs. The auction is presently challenging the first major demand zone located between 3585 and 3570, but the bearish momentum appears strong. The primary scenario anticipates a continuation of this corrective move. The expectation is that the current 3570 demand level will fail to hold against the selling pressure. A confirmed breakdown below this demand zone would validate the short thesis and open the path for a deeper correction towards the main ascending trend line. The take-profit is therefore set at 3565, targeting the area immediately following this breakdown. Manage your risk!
FOREXCOM:XAUUSDShort
by heniitrading
11
Ripple Finished A Correction Within Bullish TrendRipple Finished A Correction Within Bullish Trend, as we see it recovering in an impulsive fashion, which can extend the rally from technical perspective and by Elliott wave model. Ripple with ticker XRPUSD is waking up from projected support after an ABC correction in wave IV, so bulls could be back, as we see it breaking above channel resistance line and important 3.08 level. So after current short-term pullback, we may see more gains and another push toward all-time highs for wave V, possibly to the 4-5 area.
BITSTAMP:XRPUSDLong
by ew-forecast
Bitcoin will start to correction after touching resistance levelHello traders, I want share with you my opinion about Bitcoin. The established market structure for Bitcoin remains bullish, with the price action being methodically guided higher within a well-defined upward channel. This pattern has been in effect since the resolution of a prior upward wedge, creating a clear sequence of higher highs and higher lows between its support and resistance lines. The price of BTC has just completed another full rotation from the channel's support and has now arrived at a critical inflection point. Currently, the asset is directly testing the upper boundary of the channel, a level which forms a powerful confluence of resistance with the horizontal 118200 - 117200 seller zone. The primary working hypothesis is a short, corrective scenario, based on the high probability that the channel's resistance will be respected. A confirmed rejection from this area would signal that the current upward impulse is exhausted and a downward rotation towards the channel's support is underway. Therefore, the TP for this rotational play is logically placed at 112200 points. This target aligns perfectly with the ascending support line of the channel, representing the most probable objective for a corrective move of this nature. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
16
EURUSD Short: Rejection from Channel ResistanceHello, traders! The price auction for EURUSD has been in a bullish phase, with the market structure being defined by a large upward wedge. This pattern has been guiding the price higher through a series of higher highs and higher lows, but such formations often signal that the underlying trend is losing momentum and may be approaching a point of exhaustion. Currently, the price action is at a critical inflection point, testing the upper resistance line of this multi-week wedge. The auction is being squeezed into the apex of the pattern, a situation that typically precedes a volatile move. This is a key area where sellers are expected to challenge the bullish initiative and attempt to take control. The primary scenario anticipates a bearish resolution to this upward wedge. The expectation is that the price will be rejected from the resistance line, triggering a sharp reversal. This move is expected to have sufficient momentum to break down below the wedge's ascending support line, confirming a structural shift. The take-profit for this breakdown scenario is therefore set at the 1.16800 support level, which is also the upper boundary of the current demand zone. Manage your risk!
Short
by heniitrading
3
Euro will reach seller zone and then start to fallHello traders, I want share with you my opinion about Euro. The market for the Euro is currently positioned at a critical inflection point, as a prolonged period of consolidation appears to be nearing its resolution. After transitioning from a prior downward channel, the price action for EURUSD has been contained within a large symmetrical triangle, a pattern of contracting volatility. This structure has been defined by a clear descending resistance line and an ascending support line, anchored by the major seller zone and the buyer zone. At present, the asset has rallied from the support line and is now directly testing the upper boundary of this triangle. This area represents a powerful confluence of resistance, where the dynamic trendline meets the horizontal seller zone near the 1.1730 Resistance Level. The primary working hypothesis is a short, rotational scenario, based on the expectation that this resistance will hold. A confirmed rejection from this 1.1730 - 1.1750 area would validate the integrity of the triangle and signal that another major swing to the downside is underway. Therefore, the TP is logically placed at 1.1620 поинтов, a key target located in a high-liquidity area on the path towards the main 1.1575 support level. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
13
Gold will bounce from support area and continue to riseHello traders, I want share with you my opinion about Bitcoin. The market context for Gold remains firmly bullish, with the price action being guided by a well-established upward channel that has defined the trend for a significant period. The structure of this channel has been confirmed by multiple rotations between its support and resistance lines, originating from the deep buyer zone near the 3390 support level. Currently, after a rejection from the channel's highs, the price of XAU is undergoing a healthy corrective phase. This pullback has brought the asset into a critical confluence of support, defined by the 3630 - 3615 support area and the ascending support line of the channel itself. The primary working hypothesis is a long scenario, which anticipates that buyers will step in to defend this key support cluster. A confirmed bounce from this area would signal the conclusion of the corrective move and the resumption of the dominant upward trend. This would likely initiate the next impulsive wave higher within the channel's structure. Therefore, the TP is logically placed at 3735 points, a target that aligns with the upper resistance line of the channel and represents a new potential structural high. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDLong
by LegionQ8
21
BTCUSD: Consolidation will ContinueHello everyone, here is my breakdown of the current Bitcoin setup. Market Analysis From a broader perspective, the market for Bitcoin has shifted from a trending phase into a wide consolidation Range. This occurred after the price broke down from a prior Upward Wedge, signaling a pause in the bullish momentum and establishing the current boundaries between the 107700 Support and the 119000 Resistance. Currently, the price has completed a full rotation from the bottom of this Range and is now approaching the major horizontal Resistance at the 119000 level. This is a historically significant area that has repeatedly capped rallies and acted as a strong barrier for buyers. My Scenario & Strategy I'm anticipating that the price will make a final push into the 119800 - 119000 Resistance Zone. The key signal I'm watching for is a clear rejection from this area, confirming that sellers are still in control at these prices and that another rotation downwards is likely. Therefore, the strategy is to watch for this rejection at the top of the Range. A confirmed reversal would validate the short scenario. The primary target for this downward rotation is 111000 points, an intermediate level within the Range where a price reaction could be expected. That's the setup I'm tracking. Thank you for your attention, and always manage your risk.
BINANCE:BTCUSDShort
by Ratner
10
XAUUSD: Rully Will Continue in ChannelHello everyone, here is my breakdown of the current Gold setup. Market Analysis From a broader perspective, the price of Gold has been in a strong and sustained uptrend for some time. This entire bullish phase has been neatly contained within a well-defined Upward Channel, which has been guiding the price through a series of higher highs and higher lows, establishing a clear bullish market structure. Currently, the price is trading in the upper half of this channel, consolidating after its most recent push higher. The momentum appears to be pausing, which is a normal and healthy sign in a sustained trend. This pause often precedes a brief corrective move before the next leg higher. My Scenario & Strategy My scenario is based on the expectation that this dominant uptrend will continue to be respected. I am looking for the price to make a small corrective dip from its current position. Therefore, the strategy is to watch for this bounce as a potential entry to rejoin the trend. A confirmed rebound would validate the long scenario. The primary target for the next impulsive wave higher is 3710 points, aiming for a new high within the channel's structure. That's the setup I'm tracking. Thank you for your attention, and always manage your risk.
FOREXCOM:XAUUSDLong
by Ratner
1
BTCUSD Short: A Corrective Decline is AnticipatedHello, traders! The price auction for BTCUSD has been clearly defined by a large ascending channel. This bullish structure has guided the price higher through a series of higher highs and higher lows, with the demand zone 2 at the 110000 level acting as a major foundational low. The initiative has remained firmly with the buyers throughout this trend. Currently, the auction is at a critical inflection point, having reached the upper supply line of the ascending channel. This test of the highs comes after a sustained rally, and the market is now in a key area where selling pressure is expected to emerge. This price action could indicate a phase of trend exhaustion. The primary scenario anticipates a short-term corrective move from these highs. The expectation is that after a potential final push higher, the price will be rejected from the channel's resistance. A confirmed reversal would signal a temporary shift in control to sellers. The take-profit for this corrective play is therefore set at the 113400 level, targeting the major horizontal demand zone. Manage your risk!
BINANCE:BTCUSDShort
by heniitrading
6
Bitcoin will reach resistance line of channel and then dropHello traders, I want share with you my opinion about Bitcoin. The current market structure for Bitcoin is defined by a well-established upward channel that was formed after the price broke out of a prior triangle consolidation. This bullish pattern has been guiding the price action of BTC higher through a clear sequence of higher highs and higher lows between its dynamic support and resistance lines. The market has just completed another full upward rotation within this structure and is now positioned at a critical inflection point. Currently, the price is directly testing the upper boundary of the channel, which forms a powerful confluence of resistance with the horizontal 113500 - 114000 seller zone. This area has historically been a strong barrier where price has reversed on previous occasions. The primary working hypothesis is a short, rotational scenario, based on the expectation that sellers will once again defend this significant resistance confluence. A confirmed rejection from this seller zone would validate the integrity of the upward channel and likely initiate a new corrective swing to the downside, which would first need to break the current support level at 113500. Therefore, the TP is logically placed at 112400 points, a target that aligns perfectly with the ascending support line of the channel. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
18