https://t.me/+8Y4o8wrdpec2ODA0 - Free telegram channel : Daily updates of news, technical charts, long-term views, fundamentals, trading psychology, strategy and much more! Starting today, May 3rd 2022. Been trading for 8 years mostly Gold & Oil.
Will keep this short.
Market cap is passed 1 BILLION, Binance has it listed.
Huge whales buying into it.
We have an ascending trend-line with consistent higher highs and lows.
We have a falling wedge pattern with a close above resistance.
MACD showing bullish divergence
RSI showing bullish divergence
Close above 0.0000030 on 1H close could be...
Key resistance at 1980-2006, peak of rising wedge pattern combined with horizontal resistance stretching back to 2020.
Support of wedge is at 1911 and is a very probably short to mid term target of this technical movement within the wedge.
A candle close above the 2006 mark may spark an immediate rally towards the next immediate key resistance at the ATH of...
76.80-77.10-20 is a crucial resistance level.
A break above may lead quickly towards 80.80 and beyond.
Keeping below may lead to retest of 74.90 to 73.20 support trend-line.
74.90 is the trend-line, 73.20 is a cluster of horizontal support.
Keep to the range and be patient!...
What happens when a "falling wedge" pattern meets a long-term support line and they both bump into a potential Elon Musk takeover by Twitter?
"Falling wedge" is a bullish reversal pattern. 0.85 is key resistance to pass for breakout up, confirming much further upside above.
Support line goes back to October 2022 and confirms higher lows.
Dogecoin is a POW...
Very clear parallels highs and lows ascending tunnel pattern appears on chart.
Buy entry around current rate 0.092 could be an easy ~10% catch to the peak of the tunnel at 0.107.
Stop loss below the tunnel floor at around 0.0877 to be safe for false break could be a great immediate trade with much lower risk than potential reward.
Nice combo of bullish short-term indications.
Support trend-line since October 2022 to today just confirmed again with aggressive bounce (3rd test of trend-line).
3 lows with middle lower low show potential for inverse head & shoulder pattern (bullish) with 1.2170 middle neck-line resistance , with daily candle close above 1.2390 may be reached very quickly.
Really simple stuff.
Take the technicals combine it with SEC lawsuit looking very positive for Ripple (The prosecutors basically admitted that XRP token is not a security, making the lawsuit invalid).
On another fundamental bullet point we have the XRP ledger paving the way for tokenization as it continues to mount up popularity.
The technical aspect shows a...
Simple 1+1 equals 2.
There's a couple factors here.
1) Long-term support since March 2023 kept with multiple re-tests.
2) Long-term 8 month wedge consolidation with recent Jan 2023 breakout up together with RETEST of that breakout at 74.80-75.20 as of today.
If the week closes above this support, VERY high chance for continuation of breakout up and 80's-90's...
2 minutes to read and reveal the the matrix!
2 clear, important periods for EURUSD in the last close to 20 years of trading circled red on the chart.
Period 1 - August 2020 - Feb 2022
"False break period"
Initially, pandemic caused a rush of investment, landslide USD down as cash was poured into
stocks, cryptocurrency, etc..
But peaking around December 2020, due...
Simple technicals combined with a broad perspective.
1) Resistance trend-line ongoing since April 5th was broken 24th may, indicating bull trend initiating.
2) Since breakout, connecting lows and highs are parallels indicating a consistent up-trend in the shape of a tunnel.
The range of the tunnel is 0.980 to 0.916 , current rate is 0.911.
A break below...
Let's keep it simple and understandable.
2007-2020 lower high descending trend-line which was broken to up-trend Mid 2020.
Currently between 1.198-1.2250 is the retest range of this breakout and up-trend support.
The bounce from the retest may take GBPUSD to 1.2680 quickly on it's route back to the weekly trend breakout.
At the same time, we have a high...
100-101.50 is key retest level of support trend-line stretching back all the way to December 2021, with consistent higher lows.
At the same time, it's also a retest level of the second higher high breakout stretching back from the peak of 128.
China lock down is expected to ease within days, inflation is on the rise, EU oil ban for Russia is likely...
This is a time for action!
Gold is at a crossroad.
Back in Nov 2022 a big bull flag pattern confirmed upside breakout which sparked a massive $300 rally in 3 month - The target of the bull flag breakout was reached Feb 3rd at 1960.
Standard correction to overbought condition and pattern target reach caused a landslide to 1850-60 support which is a re-test of...
2 possible scenarios:
1) Price continues to charge forward post big "falling wedge" pattern breakout up, targeting 15,300 as breakout target (equal distance of wedge width measured from breakout) with 12,800 "rising wedge" resistance broken this scenario will be confirmed.
13,600 is in the way and could be correction back down 12,200-300 once reached, or can...
Big "falling wedge" consolidation pattern for aprox a year Nov 2021 - October 2022 upside BREAKOUT and RETEST confirmation.
Since breakout, consistent higher highs indicating up-trend.
25300 is key resistance, with a weekly candle close above 25,300 , next immediate target could be 31,500, following with 36,900.
A weekly candle break below 22,800 may lead...
Channel of 1780 to 1840 is very important right now and current trend range.
We already see reversal from channel floor so there's high chance for immediate rise on market open.
A break below 1780 channel floor with daily close may change short-term to down-trend with potential as low as 1708.
This is the less likely scenario.
Crypto market uncertainty may...
March 2020 to Jan 2023 support trend-line confirmed recently with another bounce of higher lows.
Highlighted on chart previous times we've had the support tested since March 2020, rally which followed was aggressive and substantial.
1) August 2020 to April 2021 - $4,054 gain per coin, 1012% increase.
2) June to August 2022 - $1,100 gain per coin, 120%...
Know the range, act with a plan and stick to it.
That's all you need to do in order to potentially catch a $50-60 move on Gold in the relatively short-term.
Currently the price is consolidating in a triangle shape that starts from the retest of the support trend-line stretching all the way back to March 2020.
The range of the consolidation is 1830-35 to 1860....