Get started

Parallel Channel

EURUSD → Resistance Retest. A rebound or a breakthrough? FX:EURUSD is testing the resistance of the local correction, and instead of the expected rebound, I am waiting for an attempt of a breakout with the aim of further growth to 1.12757 on the background of the expected fall of the dollar.... There is important news ahead that traders have been waiting for months. A rate cut. And the question is no longer “when?”, but “by how much?”. 25 basis points or 50 ... But before that traders will have to endure Retail Sales, CPI, FOMC, which may also have an impact on both the market and the Fed. Technically, the focus is on the resistance of the range, 1.112. The market is likely to fight for this zone, a correction is possible, but a gradual retracement and retest will increase the chances of a breakout. If the bulls hold 1.112, it will open the way towards ATH! Resistance levels: 1.112, 1.12 Support levels: 1.1099, 1.1072 Globally the trend is bullish, on D1 the price is coming out of the correction phase and continues the upward movement. The news may have a big impact on the market, which will shape both medium and long term prospects... Targets are indicated on the chart Rate, share your opinion and questions, let's discuss what's going on with ★ FX:EURUSD ;) Regards R. Linda!
Long
by RLinda
11
USDCHF → Dollar rebound changes the local situationFX:USDCHF after a shakeout returns to range resistance amid the current downtrend. The dollar index is rising and many don't realize what's going on.... DXY failed to overcome the critical and psychological level of 100.0. The yield on 10-year US government bonds did not fall after the rate cut, but even rose to 3.74% from 3.6%. Strange divergence between currency market expectations of rate cuts and debt market expectations of rising yields. The expectations of traders/investors on the background of interest rate cuts did not come true and in the future we should expect a deeper rebound of the dollar considering the fact that GDP data and Powell's speech are ahead. The currency pair is currently forming a local resistance at 0.8517, the breakdown of this zone will give an impulse to the trend resistance, which will determine the further situation. Either the rebound or the price will go higher, to deeper zones of interest. Resistance levels: 0.8517, 0.856, 0.8616 Support levels: 0.843, 0.837 The trend can be considered broken and confirmed bullish after the price fixation above 0.875, currently bearish. It is worth forming your strategy on this fact Rate, share your opinion and questions, let's discuss what's going on with ★ FX:USDCHF ;) Regards R. Linda!
by RLinda
1
HelenP. I Gold can start decline to $2570 inside upward channelHi folks today I'm prepared for you Gold analytics. A not long time ago price some time traded near support 2, which coincided with the support zone and later fell to this area. After this movement, it turned around and tried to grow, but when it reached 2529 points, it turned around and started to decline. In a short time, XAU declined to support zone and then started to grow inside upward channel. In this channel, the price rose a little and then made a correction to support 2, after which started to move up next in the channel. Some time, the price rises near the support line of the channel and later rebounds up to support 1, which is located inside the support zone, and then breaks this level. Next, Gold reached the trend line, which is the resistance line of the channel also, and then made a correction movement below support 1. After this, Gold made impulse up to the trend line, breaking support 1 one more time, and now continues to trades near this line to this day. I expect that XAUUSD will start to decline to the support line, which coincides with the support level. For this case, I set my goal at 2570 level. If you like my analytics you may support me with your like/comment ❤️
OANDA:XAUUSDShort
by FirstNameHelen
11
ETH low is probably in. Up we goGreetings traders! This is my very first analysis, so feel free to roast me in the comment section :) Ethereum has possibly hit a macro low (and it would be a higher low) and it's ready to go up. Simple analysis based on historical behavior, where ETH has always respected an upward parallel channel from bear market low until bull market top, and breaking down that channel indicated in the past the end of the bull cycle. Some factors to consider: - ETH touched the bottom of the rising channel in the recent flash crash on August 5th at around $2100 and produced a decent bounce. A retest of this level is very possible. - This is a strong horizontal support level, marking the yearly open and the breakout from 2023 accumulation. - Additional support is also offered by the 200 week MA sitting around $2200. - ETH seems to have bottomed against BTC, showing massive bullish divergence at an important horizontal level of support. High chances of reversal soon. - A break below the rising channel would indicate extreme weakness for Ethereum, and possibly a failed bull cycle.. I personally think this is very unlikely. Nevertheless, let's pay attention to that level. Good luck everyone!
CRYPTO:ETHUSDLong
by crypto-rookie
4
$MRNA * MODERNA TC FIB EWP WEEKLY TF ANALYSISTechnical analysis of Moderna, Inc. (MRNA), using Elliott Wave Principle along with Fibonacci retracement levels. Here’s a breakdown of what I observe and what it might mean: 1. Elliott Wave Count : The chart features a labeled Elliott Wave pattern, with clear impulse waves and corrective waves (A, B, C). We seem to be in the C wave of a larger corrective phase, indicating that the stock is undergoing a downward correction after a prior upward impulse. 2. Fibonacci Retracements : Various Fibonacci retracement levels (0.382, 0.5, 0.618) are drawn on both the upward and downward moves. The chart suggests that the stock has already retraced past significant Fibonacci levels during its correction. The price is nearing the golden pocket retracement level ($48.60 to $43), which should act as a key support level. 3. Trend Channels : There are two visible trend channels: a green upward channel representing the previous bullish trend, and a red downward channel indicating the ongoing bearish phase. The stock appears to have broken out of the upward channel and is firmly within the downward channel, signaling the continuation of a bearish trend. 4. RSI (Relative Strength Index) : The RSI indicator at the bottom of the chart is around 31.34, which is close to the oversold region (typically below 30). This suggests that the stock may be nearing a point of exhaustion in its selling pressure, potentially signaling a reversal. Overall Interpretation: • Bearish Momentum: The stock is in a corrective phase, as indicated by the Elliott Wave count and the downward trend channel. • Key Support Levels: Prices around $48 are critical Fibonacci levels that may offer support. • Possible Reversal: The RSI suggests that the stock is approaching oversold territory, which could indicate a bounce or reversal soon, but it’s important to monitor how the price reacts at these levels.
NASDAQ:MRNALong
by Anakyn
3
BITCOIN - Price can break resistance level and continue to growHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 Some time ago price entered to triangle, where at once made downward impulse from resistance line to support line. Price broke $63700 and $54900 levels, but soon turned around and rose higher than $54900 support level, breaking it again. Next, BTC continued to grow and later reached resistance line of triangle, after which started to decline. In a short time, price fell to support area, thereby exiting from triangle and starting to grow in rising channel. In channel, Bitcoin rose to $63700 resistance level, where at the moment continues to trades very close. Possibly, price can make a small movement below and then bounce up to $67600, breaking resistance level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
7
USDJPY - Following The Bears!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 USDJPY has been bearish trading within the flat falling channel in red. Currently, USDJPY is undergoing a correction phase and approaching the upper bound of the channel. Moreover, the zone marked in blue is a previous major low. 🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the major low and upper trendline acting as non-horizontal resistance. 📚 As per my trading style: As #USDJPY approaches the red circle, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
1
BTCUSD: Confluence of 3 Bullish Patterns As seen in the chart, we have both a cup pattern and a beautiful flag pattern simultaneously within a large ascending channel. The price has not yet broken the flag pattern, so we do not have confirmation to enter a buy trade. However, the presence of multiple bullish patterns at the same time increases the likelihood of an upward move. If the flag pattern breaks, a buy trade can be initiated. The shared target for all three patterns is the $110,000 range.
BITSTAMP:BTCUSDLong
by Hakimi1260
1
EURUSD → get a long positionhello guys. as you can see the eurusd breakout the ascending channel and the last high! this position is based on a solid breaksout and if the stop loss touched then it means the breakout was a hunting! entry level= 1.1048 stoploss=1.0950 target1=1.1131 target2=1.115 atrget3=1.1268 ___________________________ ✓✓✓ 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
13
FBU Monthly Fletcher Building On trading halt while they do a $700mil capital raise Hoping it drops to ~$1.80 ish for a long term buy due to technicals but fundamentally needs a restructure of debt or more equity... Carrying too much debt from memory due to their residential developments with long cash cycle payments which is problematic when the market stalls and buyers dry up Basically too much inventory... Hopefully they can convert some of these back into liquid cash.... and move on and perhaps focus a little more on the commercial projects and building materials that have better cash cycles
NZX:FBU
by dionvuletich
Bitcoin Needs Correction==>>Filling CME GapsBitcoin started pumping after the announcement of the US Federal Funds Rate ( The Federal Reserve lowered the US Federal Funds Rate by 0.5% to 5.00%. ). Considering that lowering Funds Rate is potentially good for the cryptocurrency market, lowering Funds Rate while the US government continues to print and spend money is a big mistake. I predict that investors may prefer bonds to riskier assets such as cryptocurrencies as interest rates fall. Bitcoin is currently moving in the Resistance zone($63,500-$61,460) , Potential Reversal Zone(PRZ) , near the 21_SMA(Weekly) and 200_SMA(Daily) , Yearly Resistance(3) and upper lines of the Ascending Channel . According to the theory of Elliott waves , Bitcoin seems to have succeeded in completing the Zigzag correction(ABC/5-3-5) . Also, Regular Divergence (RD-) between Consecutive Peaks . Before drawing a better conclusion, let's take a look at the USDT.D% and BTC.D% charts. USDT.D% is moving near the Support zone , the lower line of the Descending Channel and the Potential Reversal Zone(PRZ) . I expect USDT.D% to rise at least to the Resistance zone again, bringing down the Bitcoin price .👇 BTC.D% is moving in a Heavy Resistance zone. According to Elliott's wave theory , BTC.D% seems to be completing the main wave 5 with the Ending Diagonal . I expect BTC.D% to start its downward trend soon, which could cause Bitcoin to fall more than other tokens .👇 Based on the above explanation, I expect Bitcoin to at least drop to the Support zone($60,000-$59,100) and Support lines and fill the CME Gaps . Note: If Bitcoin can break the Resistance zone($63,500-$61,460), we should expect Bitcoin to rise to at least $65,000. Bitcoin Analyze (BTCUSDT), 1-hour time frame⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
44
RTX; few more years of slow gainLooks like RTX is in the last leg of an ending diagonal as shown in the parallel channel; A-B-C-D-E. I think we can see a corrective wave in toward the $90's which would be a good buying opportunity, once we hit near $130-$150...time to take profits and wait many years for the low between $40 and $70. I think the blue arrow path is the relative future direction. If we get a sharp steady move like we did in 1995 and 2003, ignore this; especially if the monthly breaks and closes above the channel. It's unlikely we will see much gains on RTX after 2025-2026 based on this history. The 1995 massive gain was a 3rd wave which we won't be seeing in our life time; unless you're a teen. Just wanted to note RTX and many equity charts look great and a nice slope upward, but as you can see there are very long periods of practically no gain. Take that into consideration when managing you portfolio.
NYSE:RTXLong
by shamgar331
Nvidia looks pretty flat these days but it needs to MOVE ! We believed Nvidia would make the turn to validate and then break point #5, but that wasn’t the case. Nvidia remains within the bearish sequence, but it still hasn’t been able to give us confirmation of reaching point #5. The only thing we need to consider is the structure of the bearish channel, in which the most important part of this structure is our GAP zone (blue), as that’s where most buy orders are positioned, and we can see it has respected it correctly (see green circles). The scenario over the last few days looks very flat; Nvidia has to break the line it’s currently on to activate our point #5 or, in another scenario, retest the GAP Zone, which it has already tested and is of great importance since that's where the largest number of buy positions are concentrated. So, if it comes back to touch our GAP Zone (Blue), you know what to do! Best regards, and thanks for supporting my analysis.
NASDAQ:NVDA
by RocketMike111
1
Altdominance Reversal SoonMany alts are making new ATLs or are at lows against BTC presently. Others dominance has been in a parallel uptrend since breaking and holding above ~4.5% and reaching levels above 10% market dominance for the first time back in 2017. We haven't quite made a 3rd touch to confirm the channel during more recent lows in June of 2023 and again in August this year. Still, the channel and indicators are pointing towards a move back up towards channel top. The question is: Do we move up without touching channel bottom first? Or, will we see a final move back around 8%, making a higher low and touching channel bottom prior to moving up?
CRYPTOCAP:OTHERS.DLong
by dudebruhwhoa
BEARISH PLOTTER READER! (2HR TF)Good Day Traders I wanted to use a higher timeframe, but the two-hour timeframe was more convenient because my bearish plotter is pointing out only the two-hour timeframe from all timeframes. This lets me know BITCOIN will make its way down for a minor trend. I've done some price range measuring. I have two custom gaps left out in the open from all three measurements. This can only work with my bearish plotter. Two red long rectangles are the left opened gaps which price can potentially hit those targets. The green gap is genuine. I drew a parallel trend line starting point from the top of the wick to the last bottom candle wick. I've measured the longest trendline and cloned it which is the most recent white parallel trendline. BITCOIN is behaving as if it wants to keep pushing up. There's no way of telling. It's pushed up in the past on a daily timeframe regardless of stochastic RSI was overbought but don't count on it. Pay attention to the most recent candlestick. The candlestick has almost filled the green gap which my custom MA has predicted an uptrend moving forward but it is just guidance. MY ADR MA, please follow it and see the way it plays out. Summary: Does this mean the price can fall to those 4 prices, it's a possibility, but so far it's touched the most recent green gap. Based on a 2-hour volume, it all makes sense. We have three levels of the highest volume. This is only a two-hour timeframe, it's just guidance by using a strategy. I had to create my own gaps. As I created them; WALA!, look at the first red gap let's see how it plays out, so don't panic. We're in a 3-YEAR BULL RUN.
COINBASE:BTCUSDShort
by The_ForexX_Mindset
11