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Parallel Channel

Euro can reach seller zone and then rebound downHello traders, I want share with you my opinion about Gold. By observing the chart, we can see that the price some days ago started to decline from the resistance level inside the downward channel. In channel, the price rebounded from the resistance line of the channel and dropped to the support level, which coincided with the buyer zone and support line of the channel. Then the price made a fake breakout of 1.1050 level and then rebounded up, thereby exiting from the downward channel and then turned around and started to decline inside the wedge. EUR dropped to the support line of the wedge, breaking the support level, but soon it started to grow and rose back and broke this level again. Then price continued to grow in a wedge, and later reached the resistance line, after which made a correction below. EUR fell to the support line of the wedge and then in a short time rose to the resistance line of the wedge, but soon turned around and declined back. A not long time ago price repeated movement up from the support line and at the moment it trades very close to the resistance level. So, I think that the price can rise to the seller zone and then it turn around and fall to support line of the wedge. That's why I set my TP at 1.1155 level. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
10
GOLD - Price can bounce up from support area to $2710 pointsHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 A few moments ago price started to trades inside flat, where it bounced from support level and rose to almost top part. Then Gold made correction to $2475 level and then bounced up, reached top part of flat again, and exited. After this, price continued to move up inside rising channel, where later it made a correction to support line. Next, price bounced and in a short time rose to $2620 level, broke it, and reached resistance line of channel. But a not long time ago, XAU turned around and started to decline, so, I think it can fall to support area. Also then, price can turn around and bounce up to $2710 resistance line of a rising channel. If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDLong
by WalterMoon
3
CNY/USD Trend since 06 2007. Channel. Reversal zone.Logarithm. Time frame 1 week. At the moment, the currency is stronger than the dollar. The main trend is a descending channel. The price is in it now. Secondary trend — breakout of the descending trend line. Price growth to the median of the channel, and in case of its breakthrough, to the resistance. If not, then a pullback to the lower zone of the channel. Local trend — The nearest events and news background, which can affect (not necessarily) locally (movements to the median of the channel, i.e., the middle, if it is positive) on the yuan rate. This, in less than 1 month, namely from October 22 to 24, 2024 will be held 7.16 XVI BRICS summit (short for Brazil, Russia, India, China, South Africa) in Russia in Kazan. Line graph for visualization.
Long
by SpartaBTC
2
Navigating the Downtrend: DXY’s Critical Battle Within the rangeHey Traders, The U.S. Dollar Index ( TVC:DXY ) is currently trading in a downward trend channel, showing bearish momentum. However, the index is approaching critical levels where a potential breakout could lead to a shift in market sentiment. Let's take a closer look at the technical landscape and identify key levels to watch for both bullish and bearish scenarios. Current Market Conditions: Trend: The DXY is trading in a well-defined descending channel, with lower highs and lower lows confirming the bearish trend. Resistance Levels: The index is nearing a crucial resistance zone at 101.526, which also aligns with the upper boundary of the descending channel. This level will be critical to watch for potential rejections or breakouts. Support Levels: On the downside, immediate support lies at 100.762, followed by further support at 100.550 and 100.175. These levels may provide potential buying interest if the downtrend continues. Candlestick Patterns: Currently, the price action is showing hesitation as it approaches the upper boundary of the channel, signaling indecision in the market. Fundamental Analysis/Outlook: The strength of the U.S. dollar has been impacted by several factors, including recent Federal Reserve interest rate decisions, inflation reports, and mixed economic data from the U.S. While Treasury yields have been fluctuating, any changes in market sentiment around future rate hikes could provide directional cues for the DXY. Additionally, movements in global risk sentiment, particularly related to major economic events, could influence the dollar's trajectory. With uncertainties looming, traders should stay vigilant for news around U.S. GDP reports, employment data, and other key macroeconomic indicators. Targets: Upside Target: If the DXY breaks above the resistance zone at 101.526, the next key target would be 101.751, which marks a significant resistance level. Downside Target: In case of a bearish continuation, traders should watch for a move towards 100.550, with the possibility of reaching the lower support at 100.175. Risk Management: Stop-Loss: A recommended stop-loss level for a long position would be slightly below the 100.550 support level, around 100.400, to protect against further downside movement. Position Sizing: Given the volatile nature of the market and the proximity to key levels, consider adjusting your position size accordingly to manage risk effectively. Conclusion: DXY is at a pivotal juncture within its descending channel/range. A breakout above the 101.526 resistance could signal a potential reversal, while a rejection at this level may lead to a continuation of the downtrend. Traders should closely monitor key levels, as the next moves will likely set the tone for the index in the coming sessions. Sign-Off: "Success is not final, failure is not fatal: It is the courage to continue that counts." I would love to hear your thoughts in the comment section, and please hit boost and follow for more ideas. Thank you, and profitable trading to you all!
TVC:DXY
by SignalSage_Ben
NVIDIA - A leading Indicator for the AI trend and market NVIDIA - NASDAQ:NVDA 🟣The upper purple parallel line is acting as resistance to price at present. A rejection from this long term purple line may be an early warning signal of a significant correction. A break above it would suggest continued positive momentum. ⏳In combination with the above considerations, a breach down and out of short term parallel channel would be a secondary warning signal of a trend change to the negative. ⏳Falling below the 50 week SMA (red) would be a third confirmation of a negative trend shift. Obviously these levels could all act as support but if they are lost one after the other (price falling below them). It could be an early warning sign of this AI trend slowing. ✅Otherwise, a repeated 142-152 week bull trend out to June 2025 or April 2026 probable for now. Why Watch Nvidia closer than the rest? ▫️ Apple, Microsoft and NVIDIA are the top three largest companies in the world by market cap. Collectively they are almost $10 trillion worth of market capitalization. That is almost 22% of the total market cap of the S&P500 Index, so all 3 are worth watching for warning signs or positive momentum. ▫️ Nvidia could lead the market as it is providing the shovels (graphics cards) for the AI data digging/sorting and general compute/data storage. If their performance starts to wane its a signal of less digging/sorting and a slowing of purchases from NASDAQ:AAPL , NASDAQ:MSFT (indicating slowing growth in both). Keeping a close eye on this chart could provide the early warning signals of a trend change, both on the AI front and the entirety of the market cycle. There is no guarantee of the time sequence continuing on this chart however, these cycles tend to rhyme over time. I hope Nvidia breaks above the purple line at the top of the current long term channel. At present it is stiff resistance, and if price is rejected from here lower, this could be an early warning sign of the a market correction. Remember, you can check in on this chart and press play to get updated data at any time by clicking the link in the comments below or by following me on TradingView. PUKA
NASDAQ:NVDA
by PukaCharts
USDJPY → No upside potential. Prepare to fall!FX:USDJPY is facing a sell-off at the end of last week, which proves that the currency pair is not ready to go up. The dollar still continues to prepare for a breakout of 100.0. The currency pair is not able to approach the local highs, however, after the reduction of interest rates in the U.S. Japan refrained from any economic decisions regarding this issue. The pressure on the dollar has a corresponding effect on the currency pair. At the moment the price is facing a strong support at 141.74, from which a small correction to the liquidity or imbalance zone may follow, but with a high probability (technical and fundamental nuances) we may see a continuation of the fall. Resistance levels: 143.25, 144.0, 145.18 Support levels: 141.74, 139.5 In the short term, I expect a slight pullback followed by a continuation of the fall, breakdown of the key support and price decline to 139.5-138 Rate, share your opinion and questions, let's discuss what's going on with ★ FX:USDJPY ;) Regards R. Linda!
Short
by RLinda
8
MarketBreakdown | AUDUSD, USDCHF, EURGBP, GBPCAD Here are the updates & outlook for multiple instruments in my watch list. 1️⃣ #AUDUSD weekly time frame 🇦🇺🇺🇸 The market opening is very bullish for the pair. We see a breakout attempt of a major horizontal weekly resistance. If a weekly candle closes above the underlined blue area, it will open a potential for much more growth. 2️⃣ #USDCHF daily time frame 🇺🇸🇨🇭 The market is currently consolidating within a relatively wide horizontal parallel channel. The price is currently approaching its support. With a high probability, a consolidation will continue, and we will see a bullish movement from that. 3️⃣ #EURGBP daily time frame 🇪🇺🇬🇧 The price violated a significant daily/weekly horizontal support last week. Because the pair is trading in a long-term bearish trend, such a violation indicates the strength of the sellers and a highly probable bearish continuation. 4️⃣ #GBPCAD daily time frame 🇬🇧🇨🇦 The market is trading in a strong bullish trend. Currently, we see a breakout attempt of the resistance based on a current high. If a daily candle closes above that, it will confirm a bullish continuation. Do you agree with my market breakdown? ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
5
Btc at confluence support. 68k still in playSince the beginning of the month, BTC has been in an uptrend, recently breaking above its previous high of 64,500. After reaching a high around the 66,500 zone, the price began to decline in what appears to be a correction. Currently, the price is sitting right at a key confluence support level. If we're aiming for a move toward 68k, the price needs to hold above this level and not close the day below it. However, if the price drops below this support, there's a strong chance that we've reached a local top, and further losses may follow.
BITSTAMP:BTCUSDLong
by Mihai_Iacob
5
Ethereum : ETH still BULLISH - Here's WhyFrom a macro analysis, ETH is very clearly in a bullish season. Apart from the obvious (following Bitcoin) there are a few other factors from which we can deduce that ETH is gearing up for another impulse wave UP. 👉 Higher lows 👉 Diagonal trendline acts as macro timeframe support 👉 Currently Three-White-Soldiers in the weekly - Bullish candlestick pattern From a technical indicator perspective, we can see a healthy bounce on the lower white trendline. We can expect the rally AFTER the price reclaims the now upper red trendline (at which point it will turn GREEN). The price is about to reclaim the 50d Moving Averages which, in the weekly timeframe, signals a bullish move: ________________________ BINANCE:ETHUSDT
Long
by CryptoCheck-
$PYPL * PAYPAL HOLDINGS INC. EWP TC FIB MONTHLY TF ANALYSISToday's chart is a monthly time frame of PayPal Holdings, Inc. ( NASDAQ:PYPL ), showing an Elliott Wave count on the price action: 1. Elliott Wave Pattern: The chart suggests an impulse wave structure, with labels for the five-wave upward movement (labeled 1, 2, 3, 4, and 5), followed by a potential corrective wave (A). The impulse waves have been forming in an upward direction, but the current price action suggests that we are in a corrective phase (labeled as wave “A” and potentially moving towards wave “B” in the future). 2. Fibonacci Retracement Levels: The Fibonacci retracement levels are drawn from the ATH of wave 5 down to the low of wave 2 (around $38, the IPO price). These levels help predict potential support and resistance zones. Significant retracement levels are visible, indicating the areas where price could potentially reverse or consolidate. Price recently seems to be approaching the 0.236 level (around $70), which is a shallow retracement, suggesting that the market may not be fully correcting yet. 3. Price Targets: On the upside, there are extensions in the 0.618 / 0.65 Fibonacci zones (Golden Pocket), suggesting that PayPal could potentially reach price levels of around $155 if the trend in Wave B of this correction resumes. The downside targets for Wave C are lower, with strong support levels near the 0.786 Fibonacci level (around $50) and a potential ALGO TP at $33. 4. RSI (Relative Strength Index): The RSI is positioned around 48, which indicates neutral momentum. The RSI has previously shown both overbought (above 70) and oversold (below 30) conditions in previous cycles, and currently sits in a middle range, showing that the market is neither in a strong bullish nor bearish phase. 5. IPO Price Reference: The IPO price of $38 (highlighted on the chart) remains relevant. It is near the current key support level, and price revisiting this level could be seen as a potential bottom if the correction continues. Summary: Future price targets depend on how the corrective wave unfolds, but the structure suggests there could be further downside risk if the GZ SHORT at $155 holds.
NASDAQ:PYPLLong
by Anakyn
1
$INTC * INTEL EWP TC FIB BI-MONTHLY TF ANALYSISThe chart for Intel ( NASDAQ:INTC ) shows an Elliott Wave analysis of the stock’s price action from its IPO in 1971 to the present: 1. Price History and IPO: The chart marks Intel’s IPO on October 13, 1971, with the stock price adjusted to $0.30, reflecting the stock splits that occurred over the years. 2. Elliott Wave Pattern: The chart shows an Elliott Wave Sideways Combo (denoted by labels ABC and WXY), which suggests a corrective pattern in the longer term. The structure implies that Intel’s stock price has been in an ongoing cycle of corrections and rallies, which is a 30-year consolidation before the next significant move upward. 3. Resistance and Support Levels: Resistance : The upper bounds of the chart show key levels that might act as resistance, where the price could face difficulty moving higher in the short to medium term. This is shown by the Fibonacci retracement levels (highlighted in blue). Support : The lower levels show strong support zones, which suggest possible reversal points if the stock were to dip lower. The RSI (Relative Strength Index) suggests that the stock might be moving toward oversold conditions, indicating a potential buying opportunity short term. 4. Potential Future Moves: The upper boundary of the chart indicates a possible rally towards $75.81 and beyond, which could occur if the stock breaks its recent sideways trend in a few years (!). 5. Timeframe and Outlook: This chart suggests a long-term perspective on Intel’s price, extending to the early 2040s, with expectations of significant movements. This chart and the EWP analysis offer a structured view of potential price action for Intel, based on historical patterns and technical analysis. Intel has undergone several stock splits since its IPO in 1971. The stock splits occurred in the following years: 1. 2-for-1 split in 1972. 2. 2-for-1 split in 1980. 3. 2-for-1 split in 1983. 4. 2-for-1 split in 1987. 5. 2-for-1 split in 1993. 6. 2-for-1 split in 1999.
NASDAQ:INTC
by Anakyn
$RIG * TRANSOCEAN LTD. * FIB TC EWP WEEKLY TF ANALYSISProvided is a detailed Elliott Wave analysis for Transocean Ltd. ( NYSE:RIG ) stock, showing a long-term projection from the 2020 low to 2027. Price Targets and Fibonacci Retracements: Key levels suggest the price could potentially keep dropping to the HWB (50% FIB / 2.40) based on the current trend. Fibonacci extension levels suggest further price appreciation towards the golden pocket (19.76 to 23.58) if the bullish cycle continues strongly thereafter. Long-Term Outlook: The upward-sloping green trend channel suggests that the stock may continue to rise, with projections for 2025 indicating potential gains up to $20 and beyond. The overall trend appears bullish, with a potential breakout beyond current price levels over the next few years.
NYSE:RIGLong
by Anakyn
HelenP. I Bitcoin can rebound up from support zone to $67KHi folks today I'm prepared for you Bitcoin analytics. Some days ago, the price rose to support 1, which coincided with the support zone, broke it, and even rose a little more. But soon it turned around and started to decline inside the downward channel, where it broke support 1 again and fell to support 2. Soon, BTC broke this level too and dropped to the trend line, after which turned around and started to move up near the trend line, exiting from the downward channel. Price quickly rose to support 2, broke it, and even rose a little higher after this, but later BTC made a correction movement below the trend line. After this movement, the price rose higher than the trend line and continued to move up to support 1. When BTC reached this level, it broke it and some time traded in the support zone, until it broke the trend line one more time. A few moments ago BTC bounced up to this line and at the moment trades very close to the trend line. In my mind, BTCUSDT will correct to the support zone and then rebound up to the trend line. Then it can break this line and continue to move up, therefore I set my goal at 67000 points. If you like my analytics you may support me with your like/comment ❤️
Long
by FirstNameHelen
10
NZDUSD → Resistance Retest. Fed meeting ahead... FX:NZDUSD is set to go higher. The price is breaking the local resistance within the uptrend. There is an important event ahead, which can affect the price quite strongly... On D1 the market is hinting at bullish prospects, a retest of the global resistance is forming, which divides the market into 2 parts... Traders are waiting for the FOMC and FED meeting at 18:00, where officials will decide on the interest rate cut. The main question is 0.5% or 0.25%. The first will be a strong bullish signal for the currencies, the dollar will accelerate its downward movement on this background. The second value may slightly disappoint traders and the market reaction will be ambiguous. In any case, the general course of rate cuts sets the main tone in the market, it remains to wait only for specific numbers. Support levels: 0.61528, 0.61244 Resistance levels: 0.62095, 0.62544 Technically, the bullish trend continues, as hinted by the local situation on the chart. Traders believe in the favorable background. I believe that the Fed's decision will strengthen the general market trends and in this case the currency pair will head towards the upper boundary of the channel.... Rate, share your opinion and questions, let's discuss what's going on with ★ FX:NZDUSD ;) Regards R. Linda!
Long
by RLinda
4
Microsoft Parallel Channel and 200 DSMA worth watching Microsoft - NASDAQ:MSFT Long Term Chart ▫️ An incredible long term trending channel. ▫️ Lets zoom in on Channel 1 and Channel 2 I have compared the 2019 - 2022 period(Channel 1) to the current 2022 - 2024 period (Channel 2) . Channel 1 2019 -2022 Channel 2 2022 -2024 ▫️ Both of these periods have had parallel channels with the 200 day SMA acting as underside support. ▫️ When these were both lost in Q1 2022, it led to an approx. 38% decline from the highs, or a c. 28% decline from losing the channel or 200 DSMA level. ▫️ This is a very strong chart. Unless the channel is lost which sync's up with a loss of the 200 day moving average (approx. $410), intermediate trend looks intact for continued upwards trajectory. PUKA
NASDAQ:MSFT
by PukaCharts
SHIB/USDT Secondary trend. Channel. 14 months accumulation.Logarithm. Time frame 1 week for clarity of the channel range. 3 weeks ago, there was an exit of the price under the support of the accumulation channel by a large percentage. Many long positions were liquidated. The chart shows the percentages from this reversal zone to the channel resistance, as well as the average profit percentage when exiting this accumulation channel from the average set price to the significant first resistance. This is what the chart of this cryptocurrency looks like on a line chart without the “market noise” volatility. Accumulation Zone. Pump/Dump and compliance with risk and money management. Remember, this is a pamp/dump meme cryptocurrency, which even at -93% down from peak pumping and with a set zone of about 14 months (!) is at an inadequate profit. That's why follow risk management in your work. It is more rational to work on such cryptocurrencies, not with stops (high volatility, slippage at high %, high probability of beaten out before price increase, the large value of stop is meaningless, they can beat out at -2% and -40%), and work from average buy/sell price (only spot!) with reasonable observance of money management.
Long
by SpartaBTC
43
Bitcoin's Breakout from a Wedge Pattern: Heading Towards $66,000hello guys. let's dive into btc analysis after the previous analysis: Broken wedge pattern: The chart shows a clear breakout from a descending wedge, a bullish reversal signal, indicating a potential trend shift. Upward channel: After the breakout, Bitcoin has been moving within an ascending channel, which provides a strong bullish structure for price movement. Support and resistance levels: Immediate support can be found near $62,000, while the next target on the upside is projected around $66,000. Potential pullback: A minor retracement within the channel might occur, but overall momentum remains bullish as long as Bitcoin stays within the channel. Bullish momentum: With the strong volume and the breakout from the wedge, the next logical resistance area to test is around $66,000 or higher. ___________________________ ✓✓✓ Always do your research. ❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them. ❤︎ ❤︎ ❤︎And please don't forget to support this idea with your likes and comment
Long
by melikatrader94
7