Magicdiagonals

DXY: From One Side of the Weekly Channel to the Other This looks pretty impressive. DXY moved all the way from the upper boundary of the weekly channel to the lower boundary of the weekly channel . For me, the downside looks pretty limited from here. What I want to see now → A reversal setup around this area, then price getting back inside the weekly channel and holding above the turquoise weekly diagonal . If that happens, I’ll be looking for the move higher to start from here. So now I’m not interested in chasing the drop. Lower weekly boundary reached → now watch the reaction. If price gets back above the turquoise diagonal and holds there, I’ll be looking up. And then we’ll see how much the move has to give.

XAUUSD: Next Week, Everything Depends On…All attention on Gold is now around the 4350 area . If price comes down there and we actually get to see the reaction from this level, for me that will be the decisive moment. I may trade the move on the way down toward 4350, but until we reach this area, I’m not really interested in longs. Why 4350 matters → If this zone holds and price reacts strongly from it, then I’ll start looking for the upside again and for another move toward the highs. But if 4350 doesn’t hold and price gets accepted below it, then I’ll be looking lower — toward the green monthly diagonal . And I think this level may tell us quite a lot about what Gold wants to do next month. Either → we hold here and go straight back up. Or → we first go lower and test the monthly diagonal before the next bigger move develops. So for me, 4350 is the key level . We may trade before we get there, of course. But for longs, I want to see this level first. And then we’ll see what September gives us.

DXY: Waiting for a Return to 100 I’m waiting for DXY to come back to the 100 area. That’s where I’ll be watching the reaction. If price reacts higher from there, I’ll consider the upside scenario. If the reaction is weak and price moves lower, breaking the green monthly diagonal, I’ll expect the downside move to continue. For me, the downside scenario looks more likely at the moment, but first I want to see what happens around 100. The diagonal structure shown on the chart comes from my Magic Diagonals indicator, available on my profile.

BTCUSD — Looking for a Move Toward Weekly Resistance After bouncing from the lower boundary of the weekly channel, Bitcoin looks ready to test the upper weekly level. My first target is around the 68k area. The bullish case is supported by two things: a fresh buy volume signal, and a bullish divergence on the 3H TRIX indicator. Tools I'm using on this chart: Magic Diagonals, Volume Spike Levels, and TRIX Chart Divergence — all available in my profile.

Watch the Possible Breake Right now, price is sitting right on the border of the weekly and daily channels — a very strong support area. We can also see that price is still inside a bullish volume zone. Bearish scenario → If price gets below the diagonals and holds there, and also establishes itself below 4380 , that would invert the bullish volume zone and open the way for a move lower. First target → 4340 And possibly lower if the move develops. The diagonals also support the idea that a larger move may be getting close. They have all come together into a tight cluster, which usually tells me that if price manages to break away from them, we may finally get out of this consolidation and see a more directional move for a while. So for now, 4380 is the key level . Below it → I’m looking toward 4340 first, and then we’ll see.

XAUUSD: Daily Channel Break Meets Weekly Support Gold has moved below the lower boundary of the current daily diagonal channel, shifting the short-term structure to the bearish side. There is also a bearish RSI divergence from the recent highs, which adds another reason to watch for downside continuation. However, there is still one important level in the way. Price is now testing the blue rising line — the midline of the weekly channel. This level is currently acting as support, so the daily channel break alone is not enough for me. The key confirmation would be a break and acceptance below the weekly midline. If price establishes itself below this level, the bearish scenario becomes much stronger and the lower area of the weekly channel becomes the next broader downside reference. If the weekly midline continues to hold, Friday may instead develop into consolidation around this level rather than an immediate move lower. The diagonal levels on the chart are time-based support and resistance channels. With a new week, the channel structure will update, so I will reassess the market using the new weekly and daily levels.

EURUSD: Watch the Reaction Now Right now, price is testing the upper daily diagonal. Let’s see how it reacts here. For scalping, you could probably look for a short from this level, but I prefer a more confident entry. Bullish scenario → For me, that would be a move back to the red weekly diagonal and seeing it hold as support. If that happens, I’ll be looking for further upside. Bearish scenario → If price moves back inside the weekly range, I’ll be looking toward the middle of the weekly range first — and, in the best bearish scenario, toward the lower boundary of the weekly range. Key level → 1.1586 For now, let’s see what the upper daily diagonal gives us.

GBPUSD: Weekly Diagonals Are Compressing — Strong Move Ahead GBPUSD is at an interesting decision point on the 4H chart. The Weekly Magic Diagonals are compressing into a tight cluster. When these time-based diagonal levels come together like this, I usually expect a stronger impulsive move to follow. The direction is not confirmed yet. Right now, price is testing the gray middle line of the Monthly Magic Diagonals channel and is trying to stay below it. For the bearish scenario, I want to see a confident close below this gray line. If price can hold below it through the end of the day, I will continue looking for a short entry. The first major target would be the green lower line of the monthly channel. There is also another reason why I currently prefer the bearish scenario. RSI Smart Divergence has detected a bearish divergence on the 4H chart. The indicator looks for divergences where both RSI pivots are located in the extreme zones. The previous bullish divergence, marked with the green arrow, appeared near the end of June. After that signal, GBPUSD moved almost 500 pips higher. Now we have the opposite setup near the highs. This does not guarantee a reversal, but a 4H divergence from an extreme zone is significant enough for me to avoid chasing longs here. My plan is simple: If GBPUSD holds below the gray middle line, I will look for a short setup toward the green Monthly Magic Diagonals level. If price reclaims the gray line and confirms above it, the bearish scenario is invalidated and another move toward the highs becomes possible. In that case, I will stay out rather than switch to a long. For now, I am waiting for confirmation.

Gold: I’m Looking Only for a Sell Setup Gold continues to move higher, but at this point I am no longer interested in buying it. I am looking only for a sell setup. The main reason is the bearish signal from **RSI Smart Divergence**. With my current settings, the indicator is selective: it looks for divergence between confirmed RSI pivots, and in this mode both divergence points must be formed completely outside the normal RSI range. On the current 2-hour chart, a strong bearish divergence has formed in the overbought area. Price continued to make higher highs, while RSI failed to confirm those highs. For me, this does not mean that price must reverse immediately. It means that buying at this stage has become considerably less attractive and that I prefer to wait for confirmation for a short. There is also an important change in the behavior of price around the Magic Diagonals . For several days, gold was taking small pockets of liquidity near the lower boundary of the daily channel and then returning toward the upper weekly area. Today, that behavior changed. Price was unable to retest either the upper weekly boundary or the upper daily boundary. The move stopped around the middle line of the daily structure, and price is now attempting to move outside the daily channel. The level I am watching is approximately **4,390**, around the purple daily line on the chart. My preferred setup would be: 1. Price establishes itself below the daily channel. 2. The area around 4,390 is retested from below. 3. The retest fails. 4. Price continues lower into a larger correction. The first downside areas I am watching are marked on the chart. If the correction develops further, I believe gold may eventually revisit — and possibly take — the lows formed last month. Only after a deeper correction of that kind would I start looking again for the possibility of another strong bullish move. The previous 2-hour extreme divergence detected by RSI Smart Divergence is marked with the green arrows on the left side of the chart. That signal did not produce an immediate reversal either. Price spent time consolidating after the divergence before eventually making the substantial move that brought gold into the current area. The current setup may develop in a similar way: the divergence gives me the directional warning, while the Magic Diagonals structure gives me the levels where I want to see confirmation. For now, my plan is simple: No longs. I am waiting for a confirmed sell setup below the daily channel.

Gold – Correction: When? Gold has moved well beyond the weekly range, and the weekly diagonals are now acting as a magnet. Because of that, I expect a correction sooner or later. The key level I'm watching is 4242. If price breaks below 4242 and then retests it as resistance, that would be my confirmation that the correction has started and shorts become much more interesting. Holding below 4242 would also confirm that yesterday’s buy volume near the top has been inverted. The first target is around 4170. The second target is is the purple daily diagonal, currently around 4145. Let's see if the market confirms this scenario. Tools I use: Magic Diagonals and Volume Spike Levels. You can find them on my profile.

GBPUSD - Long Setup A volume signal is currently forming on GBP/USD. At the moment, it looks like a potential buy setup. This is the scenario I'm watching. The first resistance is the middle of the daily channel, around 1.3475. If buyers stay in control, the next resistance is near 1.3500. Let's see how price reacts once it reaches these levels. Tools that I use on my chart can be found on my TradingView profile: • Volume Spike Levels • Magic Diagonals

XAUUSD — Looking for a Move Lower Toward Weekly Support For today, this is the scenario I’m watching on gold. You can see on the chart the range of the volume candle. Price has already moved below it and is holding there, so for now this volume looks more like sell-side volume. What I want to see next is a candle close below the yellow horizontal level during the active session. If we get that confirmation, I’ll be looking for continuation lower. Price is already outside the daily channel and slowly moving toward the lower boundary of the weekly channel. My expected path is roughly the one marked on the chart. I’m hoping Friday’s low from July 17 holds. If it does, I expect price to find support somewhere around the 4000 area. That would be the next place where I’d start looking for a buy setup. Lets see how it plays out. Tools I’m using on this chart: Magic Diagonals and Volume Spike Levels — both are available in my profile.

GBPUSD — Intraday Long Interesting setup on GBPUSD. Yes, it’s Friday, but I think there’s still a trade here. We got a good volume spike on the buy side, which gives us a fairly tight stop below the low of that volume zone. Right now GBPUSD is trying to get through the blue daily diagonal. I want to see price hold above it first. If it does, the next level is the turquoise weekly resistance. From there, I’m looking for a move higher toward the upper level around 1.3390. I think the buy volume that came in here could be enough for another 50–60 pips higher despite it being Friday. Tools I’m using on this chart: Magic Diagonals and Volume Spike Levels — both are available in my profile.

XAUUSD - Watching For a Possible Move Back Up Price moved out of the weekly channel earlier this week and made a good move higher. Yesterday the correction started and brought price back to test from above the upper red weekly diagonal. This level was resistance before the breakout, and now it’s acting as support. Price could stay around this weekly diagonal for a while, or even move back inside the weekly channel. At the same time, the daily channel gives me another setup. From here I’m watching for a move back up, first toward the blue daily diagonal and possibly toward the light-blue one. I’m not entering just because price reached the weekly support. I want to see a buy setup first and price holding back above the purple daily diagonal. We also have a bullish divergence from RSI Smart Divergence on 15 min chart, which gives some extra confirmation. The divergence on Wednesday worked very well, so let’s see how this one plays out. Tools I’m using on this chart: Magic Diagonals and RSI Smart Divergence — both are available in my profile.

XAUUSD — Two Scenarios from the Daily Range Price has moved above the daily range and the light-blue daily diagonal is now acting as support. For a correction, I want to see price move back inside the daily range. Right now, according to Volume Spike Levels, price is trading inside a significant volume zone. If this volume turns into selling pressure and price gets back inside the range, I’ll be watching the blue daily diagonal as the first target. If price breaks and holds below the blue diagonal, the correction could continue towards the purple diagonal. The alternative is simple: price comes back to the light-blue diagonal, holds it as support and continues higher. Let’s see how it plays out. Tools I’m using on this chart: Magic Diagonals and Volume Spike Levels — both are available in my profile.

Gold: Watching the Next Resistance The chart may look a little busy at first, but there are actually only three indicators here. This is the Gold 3H chart. Price has moved above the light blue Daily Magic Diagonal, so for me the main direction is still up. Since price has moved out of the daily range, this diagonal can now act as support. Right now, price is trying to break above the middle blue diagonal, which represents the middle of the weekly range. If price breaks and holds above it, I’ll be watching the next resistance — the red Weekly Magic Diagonal around 4070. If price also manages to hold above the grey diagonal, which represents the middle of the monthly range, and then breaks out of the weekly range above the red diagonal, the targets could be much higher. But we’ll see that later. First, price needs to get through these resistance levels. On the 3H chart, I also have a divergence from my TRIX Chart Divergence indicator. The divergence is visible in the oscillator and is also marked directly on the price chart — I circled both areas. We also had a positive buy volume signal from Volume Spike Levels. The candle is marked with the box on the chart. So for now, I’m watching for a possible move higher. Let’s see how these signals play out. All three indicators used here — Magic Diagonals, TRIX Chart Divergence and Volume Spike Levels — are available in my profile.

BTCUSD: First Target 67K My first target for Bitcoin is 67K. And then we’ll see. I’m using the Monthly Magic Diagonals from my Magic Diagonals indicator, available on my profile.

XAUUSD: Intraday Downside Pressure, Watching Reaction From Hourl Intraday scenarios on XAUUSD are still mostly pointing lower for me. The key area now is the nearest hourly low/liquidity zone. If price sweeps this low and the level holds, I will watch for a possible long reaction from there. I’m not buying blindly — I want to see a sweep, reclaim, hold, and intraday structure shift first. If this level fails, I will wait for the next lower reaction zone. The diagonal structure used here comes from my Magic Diagonals tool, available on my profile.