BINANCE:BTCUSDT formed a range zone and broke it downside. The market is heading towards the round support level of 60000. If you look at the monthly timeframe, you'll see that price action is testing 50% of the previous weekly candle. I think the market will bounce off the support level and move upward toward the channel border. This support level was respected...
BINANCE:BNBUSDT recently broke the key resistance level at 600. The market is probably going to consolidate below the strong resistance and then break through. However, on the 4H timeframe, the market was moving sideways. It broke the top of the range, then retested it, indicating potential trend continuation. On the weekly timeframe, the market formed a massive...
OANDA:XAUUSD price is still moving sideways. The market is bouncing between range boundaries. The bulls failed to push the price higher at the top of the range, which might be a sign that the market will move to the bottom of the range. The market, as you can see, is consolidating around 2300 because the price usually moves sideways at key levels, which is...
The price perfectly fulfills my last idea. It hit the target level. FX:USDCAD is basically moving sideways between 1.36000 and 1.38000. The market broke and closed above the strong level at 1.37000. On the daily timeframe, we can see that the major trend is bullish. Additionally, there is a long-tailed bar that took liquidity below the range zone. I expect the...
Since Monday, the market has slowed down. We have only had 50 pip moves since then. The price formed quite bearish bars on the daily timeframe. Also, there are two candles with long tails, which is a sign of the level rejection. FX:EURUSD broke and closed below the small range zone; it broke through the support level at 1.07500 after attempting to break the...
The price perfectly fulfilled my last BINANCE:BTCUSDT idea. On the daily timeframe, the market closed above the key level. It basically made a false breakout, then formed a big, long-tailed bar on the weekly timeframe. This shows bullish dominance. I think if the market does not lose momentum, it could potentially reach a strong resistance at 73000. If you go...
The price perfectly fulfilled my last idea. BINANCE:DOGEUSDT formed a double top at the channel top, then rolled back to the support level at 0.14. On the weekly timeframe, it created a long-tailed bar, which indicates buying pressure. The market might retest 50%–61.8% of the weekly candle. If the price bounces off through the support zone at 0.13-0.14, we can...
The price perfectly fulfilled my last idea. FX:EURAUD fell from resistance and hit the target. The market broke through the support level, making a new extension downward. The price updated its lower lows and closed below support level 1.64000. The market is rolling back to the resistance zone. The price is pulling back to a level that was tested multiple times...
The price perfectly fulfilled my last idea. It hit the target. The price reached the supply zone, where we had massive sell offs. EURUSD moved higher after breaking through the range zone. It is testing the key resistance at 1.08000 and channel boundery, which is essentially a downward trendline. The price will most likely move sideways since there is no news...
BINANCE:SOLUSDT broke and closed above the downward channel, which is a is a super bullish sign. It formed a double bottom. The price tested the strong support level at 120.00. You can see the market also broke and closed above the key level at 150.00. I think that the market is ready to move and retest the March highs. The market formed a long-tailed bar on the...
After a volatile week, the OANDA:XAUUSD market managed to close above the crucial support level of 2300. Despite several attempts to push lower, the market remained volatile, fluctuating up and down. The job numbers fell short by approximately 60K jobs. Currently, it appears that the market is in a state of uncertainty as it tries to determine its next...
The market bounced off the resistance zone, making an impulse move. FX:GBPNZD reached a strong weekly resistance and formed a bearish candle, which suggests that the market is most likely to pullback toward the support level. The market failed to make a new high after three attempts to break the resistance zone, which indicates the bulls are running out of...
The market broke and closed above the swap level. BINANCE:SHIBUSDT formed a range zone, then broke through it upside. Overall, the price updated higher highs and higher lows on the 1H timeframe. The price is heading toward the resistance zone from the swap level. I think the market might move upward, potentially making +20% because the trend shifted and the...
The price perfectly fulfills my last idea. FX:AUDJPY fell from resistance, tested the support level, and bounced off it. Currently, the market is in a descending channel, but I think it will break it and go up because the major trend is bullish. Overall, on the 1H timeframe, the price action is in the consolidation zone after a volatile week. I expect a pullback...
As we dive into studying price action, we can't help but be intrigued by the interesting names given to various patterns. Names like "Two Rivers" and "Shooting Star" not only sound captivating but also accurately describe the patterns they represent. In this post, we'll introduce you to another powerful pattern known as the Dragon. This pattern, belonging to the...
The price perfectly fulfilled my previous idea. It hit the target level. As we can see, BINANCE:ETHUSDT is moving sideways in the giant range zone. The price took liquidity below the April low, forming a fake breakout of the strong support level. It broke and closed above the key level at 3000. I think the price might pull back to the support level, then move...
The price hit the target level, but at first it went up before falling downward. BINANCE:BTCUSDT is still in the consolidation zone on the daily timeframe. The market is heading towards the support level, which is the fourth approach to the support level. I think that in order to see a real bullish move, the price has to go below the 60000 key level. It is...
The price perfectly fulfills my last idea. The market is moving sideways below the strong resistance zone at 0.6000 after making an impulse move. FX:AUDCHF updated its highs and higher lows; it broke a level that forms a swap zone. The market is basically in a consolidation zone, and it makes sense to buy at the bottom of it. If the market pulls back to the...