Trend Analysis
btc usdt short Trend Analysis:
The overall structure indicates a bearish trend, confirmed by lower highs and lower lows. This supports the rationale for entering a short position.
Entry Point:
The short entry was initiated after a significant price drop, followed by a pullback that failed to break above a previous support zone, now acting as resistance. This resistance was confirmed by the bearish reaction at that level.
Stop-Loss Placement:
The stop-loss for this trade is set at 102,260 USDT, above the resistance level and previous consolidation area. This placement helps manage risk by protecting against unexpected upward price movements.
Take-Profit Target:
The take-profit target is set at 82,524 USDT, aligning with a key support zone from a prior swing low. This target captures a significant potential move, with the trade offering a high risk/reward ratio of approximately 15.88.
Risk/Reward Ratio:
The risk/reward ratio of 15.88 indicates an attractive trade setup where the potential profit significantly outweighs the risk involved. This ratio reflects disciplined risk management.
Gold Price Today, January 2, 2025: Strong Start to the New YearGold prices today are maintaining a sideways trend compared to yesterday, trading around the 2,634 USD level. The outlook for U.S. interest rates remains the key factor supporting gold's upward momentum. Trade policies under President Trump, along with the Federal Reserve's interest rate trajectory, will be crucial elements influencing the inflation landscape and directly impacting gold prices.
According to technical analysis, gold is currently recovering and heading towards resistance at 2,636 USD. If this level is broken, gold may continue its upward trend, with the next target set at 2,651 USD.
The current gold market still carries many uncertainties, so maintaining a solid risk management strategy and closely monitoring global developments will be essential to protect trading accounts.
ALGORAND Bearish Divergence
A bearish divergence is forming with Algorand, requiring Algo to close above the lower high "wick". This is a strong move, but with Bitcoin testing the head and shoulders trendline and Ethereum forming a bear flag, it seems like a trap. Indicators suggest a downward trend.
Analysis for ACT/USDT ChartThe price is currently consolidating near the Buy Zone, with a descending trendline acting as resistance. A potential breakout above this trendline could trigger bullish momentum, targeting higher levels.
Key levels to watch:
Buy Zone: Ideal entry point.
Breakout confirmation: Above the descending trendline for a bullish continuation.
Target: $1.00+ if momentum sustains.
Maintain risk management as this setup depends on breakout confirmation! 🚀
Aussie H4 | Bearish downturn to extend further?The Aussie (AUD/USD) is rising towards a swing-high resistance and could potentially reverse off this level to drop lower. The presence of the red Ichimoku Cloud adds further significance to the strength of the bearish momentum.
Sell entry is at 0.6242 which is a swing-high resistance.
Stop loss is at 0.6284 which is a level that sits above the 23.6% Fibonacci retracement and a pullback resistance.
Take profit is at 0.6184 which is a swing-low support.
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Crucial Support level of 1.25 - Free Fall if it doesnt holdFollowing on the same analysis from early December; we see the Pound come under increasing pressure given the disappointing data and economic situation in the UK - inflation remains elevated; unemployment is increasing after the new budget and taxes and growth has trickled down to a humongous 0% - there are reports from retailers and shops that even the sales in the lead up to Christmas were very weak so heavy discounts may come in January to try and spur some spending.
We are unlikely to get any majorly positive data and should the BoE be forced into cutting rates in February by more than expected, this support level of 1.25 wont hold and we may get a free fall. However, a pullback may be expected near term given how far this has been sold.
I will short the Pound should the support get broken clearly given this 1.25 level could form triple bottom as per chart.
Good luck and Happy New Year everyone!
Hope this helps and remember not to rush into any position - no FOMO!
XAGUSD potential double bottom patternOn the 4-hour chart, XAGUSD has formed a potential double bottom pattern. The current upper resistance is around 29.87. If it breaks through, it will continue to rise, with the upward target looking at the 30.45-30.74 area. The current key support below is around 29.0.
SOL 4H Chart Insights: Solana on the Verge of a Move!👀👉 On the 4-hour chart, Solana appears to be trading within a defined range for now, offering no immediate trade opportunities. However, a closer analysis reveals that a market structure breakout in either direction is imminent. When this occurs, it could present a promising opportunity to profit from the breakout. I’m monitoring this setup closely and will provide updates in future videos as we move into 2025. Please note, this content is for educational purposes only and should not be interpreted as financial advice. 📉✅
Gold Pattern FormationThis commodity has been forming a rising flag for the past few days (which IMO is a strong indicator of a bullish momentum.
I was waiting for the price to hit the bearish order block at 2629 with the SL at 2640 but my entry will be at 2620, SL at 2635 and targets at 2581 and 2535.
UPDATE ON THE BUY ON BITCOIN
Price played out nicely. we are currently breaking past the previous higher high. it would be great to see this bull run push to a new high, heading towards 112,000. the abc sequence is following the plan. we have the choch, followed by a new bos (break of structure). the bulls have made it clear they are in the market and ready for another run. this has great potential. we can see strong resistance on the 4hr chart due to a solid institutional candle where price first began its bearish rally. we’ll need a break of that order block for a breaker block to achieve the new all-time high.
World gold price todayOver the past 10 years, January has typically been the best month for gold. However, Low said that is not necessarily true in the post-pandemic era when countries are still struggling. He pointed out that while recent data shows that Chinese gold demand has been strong over the past 12 months, some US factors could hold back gold prices this month. Investors are still looking at the hawkish factors at the US central bank’s final policy meeting of the year, he said. The revelation that the Fed will slow its pace of rate cuts this year has put the US dollar in a good position, which is not very positive for the precious metal.
Another issue Low noted was that the technical outlook for the yellow metal had deteriorated somewhat over the past week. He observed that prices had fallen below the 100-day moving average for the first time in more than a year. Although prices have rebounded in subsequent sessions on the back of buying from investors, he noted that this is also a negative sign for gold.
SKALE Looking ready to fly!I do not use leverage. I am profitable for many years now.
Personally I wouldn't be going long. They have enough liquidity below to sweep already.
I am in a decent position and will definitely be buying more if we go lower.
I do believe an easy 4x is coming for SKL.
Again I would be weary about using leverage at this point of the corrective rally.
NOT FINANCIAL ADVICE!!!