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Parallel Channel

Bitcoin can continue to decline inside downward channelHello traders, I want share with you my opinion about Bitcoin. Observing the chart, we can see that the price some time ago entered to the range, where it at once reached the top part, which coincided with the resistance level and then dropped. BTC fell to the bottom part of the range, which coincided with the current resistance level, and at once rebounded and started to move up. In a short time, the price reached the 61800 level, and broke it, thereby exiting from the range also. Next, the price made a small movement up, after which turned around and started to decline inside the downward channel, where BTC broke the 61800 level one more time. Later, the price declined to the support line of the channel, and at once rose to the resistance line and continued to move down. Price fell to the 56600 level and broke it, after which made a retest and continued to decline. For this case, I think that Bitcoin can make a small movement up and then continue to decline inside the downward channel. Therefore I set my TP at 51000 points. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
7
BTC: The beginning of a rebound.Hello everyone, Here’s a quick and simple breakdown of the key support and resistance zones. Below are the reasons why these zones have been selected: ✔️ Support Zone 1. ($53,329.5 ~ $52,372.5) Descending channel Fibonacci 0.786 retracement Significant low (S/R Flip) ✔️ Resistance Zone 1. ($55,969.0 ~ $55,499.6) Fibonacci 0.236 retracement Significant low (S/R Flip) ✔️ Resistance Zone 2. ($58,218.0 ~ $57,348.7) Fibonacci 0.382 retracement Significant low (S/R Flip) There's a strong likelihood of significant price action within these zones, either as support or resistance. Keep a close eye on Bitcoin’s movement in these areas. Best of luck! *S/R Flip: Support/Resistance Flip This is not a buy or sell recommendation. It is a personal perspective and should be used for reference only. All decisions and responsibilities lie with you.
Long
by Killer_Whales
1
GOLD → Aggressive bulls and double bottoms. What's next?FX:XAUUSD is testing the support of the range, forming a double bottom and distribution. Buyers are not ready to say goodbye to 2475, aggressively holding this area. Price is heading towards the upper end of the range. Bulls held global support, bringing price back to ATH amid expectations of key economic data from the US. NFP, and inflation data on Friday weigh on markets' assessment of the size of the Fed's rate cut this month. Gold traders will be focused on ADP private sector employment data, Initial Jobless Claims and ISM services PMI. Technically, the focus is on the 2526 - 2504 range. Such a strong move (distribution) is fraught with a false breakdown and rebound, but there are fundamental nuances: favorable news can strengthen the rally and break the resistance, while negative news can turn the price all the way to 2475. Resistance levels: 2526, 2531 Support levels: 2510, 2504, 2494 Emphasis on the retest of resistance 2526. High probability of a rebound to 0.5 fibo. Further, the market will be influenced by economic data, which will be published from 12:15 GMT. It is not excluded that the price will reverse earlier or fly to 2550. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
43
Link: Signs of life?If you find this information inspiring/helpful, please consider a boost and follow! Any questions or comments, please leave a comment! Bullish Take: Breakout Possibility: The price has been testing the downtrend line (blue line), and a potential breakout above could lead to a bullish rally. Key Levels to Watch: The next target after a breakout is the $10.812 level. Recovery Formation: The price is hovering near a critical support level at $9.910, and if it breaks and holds, this could trigger a bullish reversal. Bearish Take: Downtrend Still Intact: The price remains under the blue trendline, suggesting the downtrend is not yet broken. Support at Risk: If $9.910 fails to hold, the next support lies around $9.329, which could lead to further downside. Lower High Formation: The chart shows a series of lower highs, reinforcing a bearish sentiment unless a strong breakout occurs. In summary: Bullish outlook if price breaks the trendline and moves above $10.812. Bearish outlook if price breaks down below $9.910, potentially leading to $9.329. Trade Safe, Trade Clarity.
Long
by CryptoKnee
1
USDJPY → Consolidating before the news.... FX:USDJPY has been in consolidation for a long time, correlating with the dollar. Traders are waiting for key news and are not ready to act early. The currency pair is in the downward phase, which is a consequence of the strengthening of the Japanese yen on the background of the dollar's decline. The Central Bank of Japan actively considered the issue of raising rates, but postponed this step for later because of destabilized markets. Today is an important report on inflation in the USA. So far, everything is going according to the Fed's plan. Markets are actively plotting the start of a Fed rate cut in September. Technically, the bearish trend may continue, there is a huge pool of liquidity above 147.9, which may be liquidated before further decline. Resistance levels: 147.9, 150.2, 150.86 Support levels: 146.29, 144.04 Technically and fundamentally we have prerequisites leading to a possible decline. We should wait for news to take some actions.... Rate, share your opinion and questions, let's discuss what's going on with ★ FX:USDJPY ;) Regards R. Linda!
Short
by RLinda
26
GOLD - Price can exit from flat and continue to move upHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 A not long time ago price bounced from $2405 to $2475 level and then turned around and fell lower $2405 level, breaking it. Then price started to grow inside rising channel, where it rose to $2475 level, breaking $2405 level one more time. Gold some time traded near $2475 level and later broke it, exiting from channel and entering to flat. In flat price some time traded between the top part and bottom, and a not long time ago it bounced from $2475 level. Now, Gold trades near top part of flat and I think that price can reach this part and then make a small correction move. Next, price will exit from flat and continue to move up to $2570 If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDLong
by WalterMoon
4
BITCOIN - Price can bounce up from pennant to $61600 pointsHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 Recently price entered to rising channel, where it rose until to resistance line, breaking $64400 level. Next, price turned around and made downward impulse to $49000 points, breaking two levels and exiting from rising channel. After this, price started to trades inside pennant, where it at once bounced up from support line. Price broke $55300 level and later rose to resistance line of pennant, which coincided with resistance level. But a not long time ago BTC bounced and fell to support line, where at the moment continues to trades near. Now, I think price can bounce from this line to $61600, exiting from pennant pattern. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
EURUSD → A retest of the liquidity zone. Ready to go to 1.130FX:EURUSD is testing the liquidity zone within the correction. False breakdown of the channel boundary may form another bullish potential for continuation of growth to 1.1300 The currency pair forms a false breakdown of 1.1123, after which it enters the correction phase amid a strong market. The price is testing 0.236 fibo on D1, forming a false breakdown we get a reaction in the form of a pullback. On H4 the situation is even more interesting: false breakdown of the support conglomerate: 0.5 fibo + channel boundaries, which only strengthens the bullish set-up. Today the focus is on CPI in the Eurozone, as well as Core PCE in the US. High volatility is possible and the news may set a short-term tone in the market. Resistance levels: 1.1099, 1.1201 Support levels: channel boundary, 1.1061, 1.1047 The task of the bulls is to keep the defense above the resistance of the ascending channel, as well as above the level of 1.1099 - 1.11, in this case the price will consolidate above the lower boundary of the new bullish channel, which will open for us the potential for growth to 1.1300. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:EURUSD ;) Regards R. Linda!
Long
by RLinda
4
CME to $209MODs have suggested that I provide more detail about the picks I make. Sorry. I'm not as verbose as y'all, and I don't like things to be complicated. My trading system is very simple. I buy or sell at top & bottom of parallel channels. I confirm when price hits Fibonacci levels. Bonus if a TTM Squeeze in in play. I hold until target is reached or end of year, when I can book a loss. So... Here's why I'm picking this symbol to do the thing. Price at top channel Stochastic Momentum Index (SMI) at overbought level Price at Fibonacci level In at $218.62. Pullback target 208.67 (1.618 fib ext)
NASDAQ:CMEShort
by chancethepug