Bearish reversal off 50% Fibonacci resistance?The Swissie (USD/CHF) is rising towards the pivot and could reverse to the 1st support.
Pivot: 0.7917
1st Support: 0.7851
1st Resistance: 0.7986
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Forexsignals
Bullish continuation setup?The Cable (GBP/USD) is falling towards the pivot which acts as a pullback support and oculd bounce to the 1st resistance.
Pivot: 1.3576
1st Support: 1.3514
1st Resistance: 1.3691
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
EUR/USD Bullish Continuation in Play — How High Can It Go?💶 EUR/USD “THE FIBRE” | Forex Money Liquidity Hunt Plan (Swing/Day Trade) 📊💼
📈 Trading Plan: Bullish Bias
Setup: Demand Zone 🔥 + Heikin Ashi Doji reversal confirmed 🟢 + Re-Accumulation spotted (buyers stepping in).
Narrative: Market showing strong intent from bulls, eyeing higher liquidity pools 🏦.
🎯 Entry Strategy (Layering Method)
We don’t chase — we layer! 🧑💼
Multiple limit orders (layered entries) can be set around these levels:
1.16500
1.16750
1.17000
1.17250
1.17500
(Traders may adjust / expand layering based on their style ✅).
🛡️ Stop Loss Guidance
Example SL: 1.16000 (below demand zone structure).
⚠️ Note: Adjust based on your own risk tolerance + strategy — flexibility is key.
🎯 Target Zone
Key Resistance: ~1.19500 ⚔️
Momentum shows overbought risk + possible liquidity trap in that area 🚨.
Best practice: Secure profits early, scale out gradually.
🔑 Key Notes for Traders
This is not financial advice 🚫. Manage risk, adapt levels, and trade safe.
Targets/SL shared are reference points only — every trader is responsible for their own execution.
🌍 Related Pairs to Watch
OANDA:EURGBP : Often mirrors EUR strength but reacts slower — useful for cross confirmation.
FX:USDJPY : Inverse correlation with risk appetite; USD weakness here may boost EUR/USD.
TVC:DXY (US Dollar Index): Always track! If TVC:DXY drops, EUR/USD usually pushes higher.
✨ “If you find value in my analysis, a 👍 and 🚀 boost is much appreciated — it helps me share more setups with the community!”
#EURUSD #Forex #SwingTrade #DayTrading #HeikinAshi #LiquidityHunt #LayeringStrategy #TradingPlan #PriceAction #DemandZone
GBP/USD – Detailed Trading Plan: Entry and Exit Levels💷📈 GBP/USD "THE CABLE" – Forex Market Making Plan (Swing/Day Trade) 🚀
📊 Plan
🔹 Current scenario: Bullish trend confirmed – Heikin Ashi bullish reversal candle + pullback to LSMA + re-accumulation.
🔹 Entry strategy: "layers" method 🪜 (multiple limit orders).
Buy Limit 1️⃣ @ 1.34500
Buy Limit 2️⃣ @ 1.35000
Buy Limit 3️⃣ @ 1.35500
Buy Limit 4️⃣ @ 1.36000
(You can add more levels depending on your strategy).
🛑 Stop-loss
My protective level: @1.33700 📉
👉 After the breakout of the specified zone, the stop is fixed.
⚠️ Dear traders, adjust SL yourself depending on your system and risk.
🎯 Profit targets
Primary Target: 1.37500
Secondary Target: 1.39000
💡 A resistance zone is formed at these levels + the market may become overbought, so take profits in time!
🔑 Key points
✅ Confirmed bullish Heikin Ashi signal.
✅ LSMA shows re-accumulation.
✅ Layering strategy provides flexibility in risk management.
🌍 Correlations and related pairs to observe
FX:EURUSD – often moves in sync with GBP/USD.
TVC:DXY (Dollar Index) – inverse correlation, dollar weakens → GBP/USD grows.
OANDA:GBPJPY – “bullish cross” confirms the strength of the pound.
OANDA:EURGBP – an additional indicator of the balance of the pound and the euro.
✨ “If you find value in my analysis, a 👍 and 🚀 boost is much appreciated - it helps me share more setups with the community!”
#GBPUSD #Forex #SwingTrade #DayTrade #HeikinAshi #Cable #TradingPlan #PriceAction #ForexAnalysis #FX
World gold prices continuously reverseThe Federal Open Market Committee (FOMC) meeting, which began on Tuesday morning, will conclude on Wednesday afternoon (US time) with a statement and press conference by US Federal Reserve (FED) Chairman Jerome Powell. The FOMC is expected to cut the key interest rate by 0.25 percentage points - the first since November last year.
The new FED forecast may also show a slowdown in US economic growth and a rise in unemployment. At the press conference, Chairman Powell will have to answer many questions not only about the economic outlook and interest rates but also about the independence of the FED.
Global stock markets generally rose slightly overnight, while US index futures forecast a mixed opening. In other developments, the Cyberspace Administration of China is said to have asked companies like Alibaba and ByteDance to cancel orders for Nvidia's RTX Pro 6000D chips - a line of chips designed to avoid restrictions on exporting AI technology to China.
The move comes as the US and China have just announced progress in trade negotiations in Madrid (Spain).
ANFIBO | BTCUSD in my view todayHello guys! It's me, Anfibo.
Here is my Strategic and Market Sentiment Perspective :
I agree with the view that BITSTAMP:BTCUSD is currently in a compression phase. The market seems to be waiting for a catalyst (potentially economic data or macro news) to break out of this consolidation zone.
>>> Key observations:
Trading volume has shown signs of decline over the past few sessions, reflecting investor sentiment of waiting on the sidelines rather than taking strong action.
Funding rates and overall market sentiment remain positive but not overly euphoric, which is a healthy signal supporting the case for a sustainable upward move.
On the Daily timeframe, the primary trend remains bullish, and the current sideways movement appears to be a technical correction within the broader uptrend.
>>> Strategic approach for today:
> For short-term traders: consider accumulating small positions around the support levels of 115,200 – 114,400, with stop-loss orders set below 114,000 to manage downside risk.
> For medium-term investors: it is more prudent to wait for a confirmed breakout above the 117,000 – 118,000 resistance zone before scaling into larger positions, targeting the 120,000 – 123,000 levels.
Have a beautiful day!
XAUUSDOverall, gold prices remain in a strong uptrend, but in the short term, if the price fails to break above 3704, there is a possibility of a downside, so consider selling in the red zone.
🔥Trading futures, forex, CFDs and stocks carries a risk of loss.
Please consider carefully whether such trading is suitable for you.
>>GooD Luck 😊
❤️ Like and subscribe to never miss a new idea!
Falling towards major support?The Fiber (EUR/USD) is falling towards the pivot which acts as a pullback support that is slightly above the 61.8% Fibonacci retracement and could bounce to the 1st resistance.
Pivot: 1.1768
1st Support: 1.1678
1st Resistance: 1.1895
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bearish reversal off pullback resistanceUS Dollar Index (DXY) is rising towards the pivot which acts as a pullback resistance and could reverse to the 1st support.
Pivot: 97.36
1st Support: 96.47
1st Resistance: 98.12
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
USDJPYHello Traders! 👋
What are your thoughts on USDJPY?
USD/JPY has been oscillating within a defined range for several weeks, bouncing between key support and resistance levels.
Price action remains choppy and directionless within the current range.
Potential Scenario:
• A break below the support zone could trigger a downside move toward the next identified targets.
• For a more confident entry, it’s recommended to wait for a confirmed breakdown below support before entering short positions.
Upcoming FOMC and BoJ policy meetings could act as catalysts for the next directional move.
Don’t forget to like and share your thoughts in the comments! ❤️
Potential bullish bounce?EUR/NZD has bounced off the support level, which serves as a pullback support, and could rise from this level to our take-profit target.
Entry: 1.97941
Why we like it:
There is a pullback support level.
Stop loss: 1.96274
Why we like it:
There is a swing low support level.
Take profit: 2.00165
Why we like it:
There is a swing high resistance level.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Bearish drop off?EUR/GBP has rejected off the resistance level, which is an overlap resistance, and could potentially drop from this level to our take-profit.
Entry: 0.8685
Why we like it:
There is an overlap resistance level.
Stop loss: 0.8721
Why we like it:
There is a pullback resistance.
Take profit: 0.8637
Why we like it:
There is a pullback support level.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Falling towards major support?AUD/JPY is falling towards the support level which his a pullback support that is slightly below the 50% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 97.24
Why we like it:
There is a pullback support that is slightly below the 50% Fibonacci retracement.
Stop loss: 96.63
Why we like it:
There is an overlap support that is slightly above the 50% Fibonacci retracement.
Take profit: 98.30
Why we like it:
There is a swing high resistance.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Bearish drop off?NZD/JPY has rejected off the resistance level which is a pullback resistance and could potentially drop from this level to our take profit.
Entry: 87.72
Why we like it:
There is a pullback resistance level.
Stop loss: 88.32
Why we like it:
There is a swing high resistance level.
Take profit: 86.76
Why we like it:
There is a pullback support that is slightly below the 50% Fibonacci retracement.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
XAU/USD | Gold Prints New ATH at $3,685 – Rate Cut Rally Ahead?By analyzing the gold chart on the 1-hour timeframe, we can see that the price broke the key $3,657 level, just as expected, and today it even printed a new ATH at an impressive $3,685! As you know, this week is the interest rate decision week, and markets are preparing for a rate cut — either 0.25% or 0.5%. Each scenario can have a different level of impact: a 0.5% cut could easily push gold above $3,700–$3,740.
Right now, gold is trading around $3,679. As long as it does not break and close below $3,674, we can expect some sideways movement followed by more upside, with the first target at $3,700. However, there’s also an important FVG (Fair Value Gap) between $3,664 and $3,674. If the first scenario fails, gold could sharply drop to fill this gap.
I hope this analysis was helpful for you — stay tuned for more setups based on this outlook!
EUR/JPY: Bullish Continuation Within Upward Channel Toward 2024 EUR/JPY is trading within a well-defined upward channel, holding above the 173.30 support level while gradually advancing. The recent breakout from consolidation has shifted focus to the 174.50 resistance zone, which coincides with the current 2024 high.
As long as the pair stays above the rising trendline, bullish momentum remains in place, with structure favoring further upside extension. With buyers in control, the outlook continues to support a continuation toward resistance in the near term.
GER40 Loading the Break – Big Move Coming!Hey guys,
I’ve analyzed the GER40 index for you. Right now, it’s too early to drop a clear target—the price is stuck in a consolidation zone. It’s either gonna break down or break out. Once that move happens, I’ll share the exact target right away.
For now, just waiting on the breakout.
Also, every single like from you guys is what keeps me motivated to keep sharing these analyses. Big thanks to everyone supporting me with those likes.
Gold Pullback Toward 3,650 as DXY Weakness Supports UpsideHey Traders, in today's trading session we are monitoring XAUUSD (Gold) for a buying opportunity around the 3,650 zone. Gold is trading in an uptrend, with price currently correcting toward this key support/resistance level.
Structure: The broader bias remains bullish, with price pulling back toward a key area of interest.
Key level in focus: 3,650 — a zone where buyers may look to re-enter and resume the trend.
Fundamentals: The U.S. Dollar Index (DXY) maintains a bearish bias, currently in a downtrend and approaching 97.150 resistance. This weakness could continue to support Gold due to their negative correlation.
Trade safe,
Joe.
GBPCHF: Bearish After News 🇬🇧🇨🇭
GBPCHF broke and closed below a key daily horizontal support yesterday.
Retesting a broken structure today, the price violated a support line
of a bearish flag pattern after a release of UK CPI this morning.
With a high probability, the price will drop to 1.0726 level.
❤️Please, support my work with like, thank you!❤️
I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Hellena | EUR/USD (4H): LONG to the resistance area 1.18500.Dear colleagues, the upward movement is not over yet and I think wave “3” is not over yet.
At this stage, I believe that the correction has already taken place or will soon end in the support area of 1.16573, then I expect the upward movement to continue to the resistance area of 1.18500.
This is a pretty strong area, as this is where the high of the big wave “3” (Red) is located.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
EUR/CHF: Bearish Drop to 0.92920?FX:EURCHF is signaling a bearish move on the 4-hour chart, with an entry zone between 0.93673-0.93773 near a resistance level.
The target at 0.92920 aligns with key support, offering a clear downside play. Set a stop loss on a daily close above 0.93965 t o manage risk effectively. 🌟
📝 Trade Plan:
✅ Entry Zone: 0.93673 – 0.93773 (resistance area)
❌ Stop Loss: Daily close above 0.93965 to manage risk
🎯 Target: 0.92920 (key support zone)
Ready for this move? Drop your take below! 👇
USDCAD H4 | Bullish reversal off major supportBased on the H4 chart analysis, we can see that the price has bounced off the buy entry which acts as an overlap support and could potentially rise from this level to the take profit.
Buy entry is at 1.3730, whichis an overlap support.
Stop loss is at 1.3694, which i a pullback support.
Take profit is at 1.3790, whichis a pullback resistance that aligns with the 38.2% Fibonacci retracement.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (tradu.com ):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd (tradu.com ):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Global LLC (tradu.com ):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to Tradu (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of Tradu and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of Tradu or any form of personal or investment advice. Tradu neither endorses nor guarantees offerings of third-party speakers, nor is Tradu responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
NZDUSD H4 | Could this level trigger a bearish reversal?The Kiwi (NZD/USD) is reacting off the sell entry which has been identified as a swing high resistance and could reverse from this level to the downside.
Sell entry is at 0.5984, which is a swing high resistance.
Stop loss is at 0.6026, which is a pullback resistance that aligns with the 61.8% Fibonacci projection.
Take profit is at 0.5940, which is an overlap support that is slightly above the 38.2% Fibonacci retracement.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (tradu.com ):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd (tradu.com ):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Global LLC (tradu.com ):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to Tradu (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of Tradu and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of Tradu or any form of personal or investment advice. Tradu neither endorses nor guarantees offerings of third-party speakers, nor is Tradu responsible for the content, veracity or opinions of third-party speakers, presenters or participants.