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Ichimoku Watch: Salesforce Poised to Breakout Higher?Upcoming Earnings Salesforce, Inc. (ticker: CRM) is scheduled to report earnings after the market closes on 28 August. The consensus earnings per share (EPS) estimate for the fiscal quarter ending July 2024 is $1.73. The reported EPS for the same quarter a year prior was $1.63. Vulnerable Resistance? Resistance is currently being tested at US$263.42 but shows signs of giving way. While a head-and-shoulders top pattern was recently completed at the underside of the aforementioned resistance (this is more visible on the H1 chart), which could see short-term shorts enter the market and aim at the pattern’s profit objective of around US$253.63, sellers have been unwilling to demonstrate much commitment at resistance in recent trading. Ichimoku Support You can see price action closed above the Ichimoku Indicator’s Conversion Line (blue at US$260.27) as well as the Base Line (red at US$260.19), and the Ichimoku Cloud is seen nearby. This comprises the Leading Span B (light orange at US$251.40) and the Leading Span A (light green at US$260.33). As a result, the stock has sufficient support to withstand selling. Should a breakout to the upside occur, this could trigger breakout buy-stops and power a move towards the next layer of resistance coming in at US$279.28. Price Direction Although sellers may enter the market from current resistance, the nearby Ichimoku support and the lack of bearishness could eventually stir up a bullish move to target fresh resistance at US$279.28.
NYSE:CRMLong
by FPMarkets
Applying Fan's Principle on XCHANGING!Fan Pattern in NSE:XCHANGING ! 3rd Fan Line Breakout in XCHANGING! XCHANGING SOLUTION Analysis on a Monthly Time Frame! Analysis: Hello all, as you can see I have applied the Fan Principle on XCHANGING SOLUTION, It is a type of Multi time frame analysis, Where we can draw multiple trendlines from an All-Time High price point. As per the Fan's Principle, there is a trend reversal When the price breaks the 3rd Fan Line. Disclaimer = Consider my analysis for Educational Purposes only. Before entering into any trade - 1) Educate Yourself 2) Do your research and analysis 3) Define your Risk to Reward ratio 4) Don't trade with full capital
NSE:XCHANGINGLong
by Avinash9087
Resistance on AUD/USD Ahead of CPI InflationThe AUD/USD currency pair (Australian dollar versus the US dollar) is on track to snap a two-month winning streak. It is down nearly -2.0% month to date, largely driven by risk sentiment. Monthly and Daily Resistance Levels Technically, the AUD/USD faded monthly resistance at $0.6670, which combines with the upper boundary of a symmetrical triangle, or ‘coil’, taken from $0.7158 and $0.6170. Adding ‘technical’ weight to said resistances is the Relative Strength Index (RSI) remaining south of the 50.00 centreline since April 2022, indicating negative momentum. On the daily timeframe, last week’s precipitous decline breached several key support levels, including $0.6580 and $0.6591, leaving both levels open for a retest this week. Another notable observation is the scope to continue exploring deeper water until reaching support from $0.6488 (you will note that this area also represents Quasimodo support). Price Direction Overall, the trend direction is relatively difficult to define at the moment. Therefore, recent downside sentiment, coupled with daily resistance, could be something sellers show interest in if tested, targeting daily support at $0.6488. As a note, do remain aware that we have Aussie Consumer Price Index (CPI) inflation out on Wednesday. These numbers have proven rather sticky in 2024, leading the Reserve Bank of Australia to strike a hawkish tone in recent meetings – a 20% chance of a hike is currently priced in for the August meeting. Should inflation come in hotter than expected this week, this could see rate-hike expectations increase and would place current daily resistance in a tricky spot. On the flip side, current resistance could be worthy of attention should a downside surprise in data materialise.
Short
by FPMarkets
GOLD ( BREAKOUT CHANNEL ) (4H)XAUUSD HELLO TRADERS Tendency , the price is under bearish pressure , after breakout channel . TURNING LEVEL (1) : the price of this level at 2,391$, so if the price breaking this level reach a resistance level (1) . TURNING LEVEL (2) : yesterday this level worked a support level , as mentioned breakout 2,391$ reach this level ,the price of this level at 2,365$ , so if the price breaking this level reach a support level (1) . RESISTANCE LEVEL (1) : this level around 2,420$ , for reach this resistance level the price need breaking a turning level (1) . RESISTANCE LEVEL (2) : around 2,440$ , for reach this level it will be breaking by open 4h or 1h candle above resistance level (1) SUPPORT LEVEL (1) : this level around 2,340$, for reach this support level the price need breaking a turning level (2) . SUPPORT LEVEL (2) : support level at 2,320$ , for reach this level will be breaking by open 4h candle below support level (1) . CORRECTIVE LEVEL : currently price 2,374$ , have two scenario , first corrective 2,391 before dropping to touch a 2,365$ , then 2,340$ , second corrective 2,365$ to reach a 2,391$ , then breaking this level reach a resistance level (1). TARGET LEVEL : RESISTANCE LEVEL : 2,420$ , 2,440$ , SUPPORT LEVEL : 2,340$ , 2,320$ .
OANDA:XAUUSDShort
by ArinaKarayi
ARB ANALYSIS🔮 #ARB Analysis - Breakout 🚀🚀 💲💲 In Daily Timeframe,Falling Wedge Breakout is Done✅ But right now we can see that #ARB is trading below its crucial resistance zone and if #ARB breaks this resistance zone then we would see a bullish move  💯🚀 💸Current Price -- $0.8058 📈Target Price   --  $1.9358   ⁉️ What to do? - We have marked crucial levels in the chart . We can trade according to the chart and make some profits. 🚀💸 #ARB  #Cryptocurrency #Breakout #DYOR
Long
by ZEUS_Market_Alerts
S&P500 - Was this already the all time high?SP:SPX is still massively bullish on the smaller timeframes despite retesting strong resistance. Sometimes trading can be soo simple but yet rewarding. You simply have to buy the S&P500 at support and sell your position at resistance. At the moment, the S&P500 is once again retesting a resistance trendline, which has been pushing price lower for more than 14 years and there is just an extraordinary high chance that we will again see a rejection. Don't say I did't warn you! Levels to watch: $5.600, $4.800 Keep your long term vision, Philip - BasicTrading
TVC:SPXShort
by basictradingtv
9
High Time Frame 3 Drives Pattern down to OctoberNOPIUM I wanted to share a bearish thought that I think has merit whilst we are all talking about the new bull run to BTC at $250,000 by next week idea. The Blue lines - FIB TIME Purple lines - 3 Drives Pattern I'm hoping the rest is clear enough. FIB Time has been something I have used, ignored and then regretted before. Whilst nothing is a guarantee, In the past, it has given me dates within a few days of where it landed. This time, it's showing that IF we do start to grind down over the next couple of months, it ends somewhere around the 4th - 7th of October. Price Levels Untested resistance around $48,000 - $49,000 Above us right now, we have a weekly Order Block , the whole range Point of Control and the Value Area High not too far away. Coupled with the untapped Weekly level, I see this area as pretty good resistance until proven otherwise. Price levels: Somewhere between $67700 and $69000 If anybody has any thoughts, I'd love to hear them. Charted for BITGET:BTCUSDT.P
by turnandshoot
3
EUR/GBP Loitering South of Resistance Ahead of Eurozone CPI DataAhead of today’s eurozone CPI inflation report (9 am GMT), the EUR/GBP cross is approaching an interesting resistance level of £0.8500. What makes this level a worthwhile watch is that the base is complemented by several additional resistances. These resistances include the potential ascending resistance line, drawn from the low of £0.8493, which, as you can see, is nestled just north of the noted horizontal resistance level. You will also note that we have a resistance area at £0.8533-£0.8500, as well as an AB=CD resistance at £0.8513 (depicted by a 100% projection ratio) that’s closely shadowed by a 38.2% Fibonacci retracement ratio and a 50.0% retracement ratio at £0.8521, respectively. Supporting a reaction from the technical confluence between £0.8533 and £0.8500 is the trend. The overall bias has been to the downside since late 2023, with defined lower lows and lower highs being seen since April this year.
Short
by FPMarkets
XAUUSD (GOLD)The Gold/US Dollar (XAU/USD) 4-hour chart shows a potential inverse head and shoulders pattern, indicating a bullish reversal. The price is around 2329.01 USD, facing a mini resistance level at approximately 2340 USD. A strong resistance and supply zone is noted at 2368.73 USD. The chart suggests a bullish breakout from the mini-resistance level, targeting the 100% retracement level at the strong resistance zone. Key levels to watch include the mini resistance at 2340 USD and the strong resistance at 2368.73 USD for confirmation of the bullish move.
EIGHTCAP:XAUUSDLong
by Dhareja
EURCHF | Short D1 | Market Exec | Building Momentum for Risk OffTechnical Confluences for Trade: - Stochastics are in Overbought Conditions on D1, H4 and H1 time-frames - Stochastics are also Overbought in multiple Cross-CHF pairs and even on USDCHF pair. - Price action is close to multiple Supply zones - Price action is close to multiple Resistance Trendlines as well - Targeting the 50% Fibo retracement for this trade Fundamental Confluences for Trade: - There seems to be some disconnect between asset classes and with everyone already so 'risk-on', the risk-off build up momentum is ripe for the taking. Suggested Trade: Entry @ Area of Interest 0.9830 - 0.9870 SL @ 0.9942 TP 1 @ 0.9720 (Close Half-Position & move SL to Entry level once TP1 is achieved) TP 2 @ 0.9598 Risk-to-Reward @ Approx. 2.59 (Depending on Entry Level) ________________________________ Boosts 🚀, Follows ✌️, Shares 🙌 & Comments ✍️ are much appreciated! If you have any ideas or charts, do share them in the 'Comments' section below and we can discuss our perspectives to improve or strengthen our strategies. If you want something analyzed, do drop me a DM. :D ________________________________ Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks. Any websites / brokers / applications suggested here are also provided as informational purpose only. ________________________________
Short
by weekendanalyst
AUD/USD Bears to Push Towards 50-Day SMA?Ahead of this week’s RBA meeting, the Australian dollar exhibits a potential bearish scenario versus the US dollar, with the monthly and daily charts indicating further softness for the AUD/USD currency pair. 50-Day SMA Demands Attention Since September 2022, buyers and sellers have squared off between two converging lines on the monthly scale, a movement sufficient to label this pattern as a symmetrical triangle (or coil). You will note that May shook hands with the structure's upper boundary and has triggered a moderate sell-off this month (down -0.6%). Aiding the upper limit of the coil is a layer of monthly resistance coming in at $0.6670 that’s complemented by the Relative Strength Index (RSI) continuing to navigate space south of the 50.00 centreline. There’s also plenty of scope for sellers to stretch their legs at current price on the monthly chart: support is not expected to make a show until as far south as $0.6390. Meanwhile, on the daily timeframe, resistance at $0.6690 has been a talking point since mid-May, withstanding three upside attempts. If sellers maintain their position this week and overthrow willing bids at the 50-day simple moving average (SMA) at $0.6583, this would unearth a possible bearish scenario towards the 200-day SMA at $0.6539 and neighbouring support coming in from $0.6502. H1 Confluence Given the space for sellers to make their way to the 50-day SMA at $0.6583 on the daily chart, technical studies lean in favour of further selling towards $0.66 on the H1 scale this week, followed by H1 support from $0.6580. Therefore, the area showing H1 resistance at $0.6622 converging with channel resistance (drawn from the high of $0.6704) and a trendline support-turned-resistance line (taken from the low of $0.6575) could be a zone sellers show interest in this week.
Short
by FPMarkets
Tesla - Indecision with the triangleNASDAQ:TSLA has been consolidating for almost 4 years and is definitely ready for a breakout! +3.300% was the previous rally on Tesla which started back in 2019. But at the moment Tesla is not looking bullish whatsoever, considering that Tesla is trading at the same level as it was about four years ago. However, there is a long term descending triangle formation forming and therefore it is quite likely that we will (soon) see a breakout, either towards the upside or towards the downside. Levels to watch: $210, $120 Keep your long term vision, Philip - BasicTrading
NASDAQ:TSLALong
by basictradingtv
11
GOLD / XAUUSD UPDATE !!!!www.tradingview.com The gold market is currently in a holding pattern, with traders reluctant to make premature decisions due to upcoming significant news. A consolidation below the level of 2315 is observed. A false break of support has led the price to retest the 2310-2315 range, after which traders are pausing before the news release. All attention is focused on the forthcoming major events, namely the CPI and the Fed meeting. The key US CPI data will influence the Fed's stance on interest rates, which will, in turn, significantly affect the value of the US dollar and gold prices in the short term. The market anticipates neutral data (no change), which would likely maintain the same fundamental backdrop. However, the actual data is highly anticipated, especially after last Friday's unexpectedly high NFP. Any initial reaction to the US CPI data might be short-lived as gold traders will soon turn their attention to the FOMC & Fed meeting. Resistance levels are identified at 2315, 2325, and 2354, while support levels are found at 2305, 2291, and 2267. From both a technical and fundamental perspective, gold appears weak at the moment. Amidst high volatility, the price may attempt to breach 2325 and test the liquidity zone of 2335-2345, then transition to a decline phase if the fundamental backdrop is conducive. The risk of further decline remains substantial, but the upcoming news could either exacerbate this decline or disrupt the market structure.
EIGHTCAP:XAUUSD
by Goldxking
Nvidia - Still a correction?Hello Traders and Investors, today I will take a look at Nvidia . -------- Explanation of my video analysis: Over the course of the past seven years, Nvidia stock has been trading in a pretty obvious rising channel formation. As we are speaking, Nvidia stock is approaching once again the upper resisance trendline. However this does not mean that we will see an immediate correction of -50%; it is rather important to monitor price action and wait for the right opportunity. -------- Keep your long term vision, Philip (BasicTrading)
NASDAQ:NVDAShort
by basictradingtv
26
AUD/USD Bears In ControlWhile the AUD/USD shows signs of trending higher on the daily chart – a series of higher highs and higher lows have been seen since $0.6362 – the unit recently connected with resistance at $0.6659, a move bolstered by the monthly chart linking with the upper boundary of a potential bearish pennant formation, drawn from a high of $0.7158 and a low of $0.6170. Coupled with the above analysis and the Relative Strength Index (RSI) holding south of the 50.00 centreline on the monthly chart and daily flow also poised to break through the 50.00 centreline, this could prompt further selling in the currency pair towards the 200-day and 50-day SMA combination between $0.6528 and $0.6560.
Short
by FPMarkets