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Parallel Channel

POV: CGPOWER - Channel + Cup and Handle Breakout**POV: CGPOWER - Channel + Cup and Handle Breakout** **Chart Reading:** 1. Today, it started with a 0.6% gap-up, tested, and traded below the previous day's close, then rose and closed above the channel's upper range. 2. There have been five previous breakout attempts. One attempt almost succeeded, but a market downturn pulled it back into the channel. 3. The Cup and Handle pattern formed within the channel. The cup took exactly 25 sessions to form, aligning with my minimum criterion of 20 sessions. 4. The 200 SMA shows a steadily growing path. In my observation, it’s rare to see such a clean rising angle. 5. The channel has been in existence for more than 100 sessions. 6. The average candle range is relatively narrow. 7. Trend and momentum are in sync. *For educational purposes only. This is not financial advice. Please consult a professional before making financial decisions.* **#NiVYAMi**
NSE:CGPOWERLong
by kzatakia
GBPUSD → Channel breakout. Attempt to change the trendFX:GBPUSD finds an opportunity to grow. A breakout of the local trend resistance is forming amid the dollar correction. Zones of interest: 1.300 The retest of the intermediate bottom ends with reversal candlestick patterns and market reversal structure. The big question is: How long will it last? It all depends on the dollar. The US market received negative jobless claims data yesterday, which may also affect the NFP, which will be released later today. A worse-than-expected data will intensify the dollar correction, pointing to the problems in the economy (against what Powell said recently). In such a scenario, forex currencies may get a chance for a small rally. Technically, a channel breakout is a good signal that could turn into a strong momentum, but apparently traders are not in a hurry yet.... Resistance levels: 1.284, 1.300 Support levels: 1.272, 1.261, 1.2488 Accordingly, if a false breakout of resistance is formed and the price falls beyond 1.272, then we should expect a decline to 1.24. But at the moment there are positive signs to gain from 1.275 to 1.300 in the medium term. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:GBPUSD ;) Regards R. Linda!
Long
by RLinda
8
BTC ANALYSIS (update)🔮 #BTC Analysis 💰💰 🌟🚀In 8hr chart we can see a formation of "Rising Channel Pattern in #BTC. As we said BTC will dump first then a bullish move will come. Chart is following the same. Now we could see a breakout of 100k level again 🔖 Current Price: $98100 ⁉️ What to do? - We have marked some crucial levels in the chart. We can trade according to the chart and make some profits in #BTC. 🚀💸 #BTC #Cryptocurrency #DYOR #PotentialBreakout
Long
by ZEUS_Market_Alerts
2
SUIUSDT jump 📈 SUIUSDT Trend Analysis 🚀 Looks like SUI just broke through a major resistance level at $1.9740! 🔥 This breakout could signal a bullish continuation 📈, especially if it holds above this level. The next profit targets are marked around $4.4444 and $7.7002 💰 – good spots for traders to consider locking in profits. 📝 Key Tips: Follow the trend as long as support holds. Stick to money management rules to protect your gains 🛡️. Let’s see if SUI can reach those higher levels! 🤑💪
Long
by ahmadarz
Like altseason arrived: ETH follows bullish chart patternsHello, Like altseason arrived, Ethereum established a bullish trend in the green channel. Furthermore, the price has been in the consolidation of a symmetrical triangle (green triangle), which seemingly broke upward. The bullish channel and the symmetrical triangle indicate the optimal risk-reward ratio for a long position. If the break isn't a bull trap, ETH might continue going up until the $4500 psychological resistance, which aligns with the top of the channel. Breaking the channel upward could send ETH to $5300. Following a bearish scenario, ETH might be rejected from the current price (top of the triangle), in which case, it might find support at $3400 - the middle of the channel. Regards, Ely
BITSTAMP:ETHUSDLong
by Elysian_Mind
HBAR complex correction? After a historic rise of over 700% from the recent bottom, HBAR has retraced from around 40 cents, corresponding to the 0.618 fib extension level to its all-time high. Whether this constitutes an Elliott Wave 4 or not, it forms a parallel channel. Parallel channels often suggest complex corrections, so this could be labeled as WXY or WXYXZ unless it clearly exhibits the characteristics of a diagonal triangle (with an extended wave 5). If the channel's lower edge holds, HBAR might find support at the 0.382 fib extension level, around 25 cents. Otherwise, 21 cents would be another key support level to watch (an upper timeframe image will be attached below). Considering the current market conditions, a bullish continuation is likely. Therefore, passionate HBARians, including myself, may still have a chance to buy the dip.
CRYPTO:HBARUSDLong
by jackrabbitrage
3
GOLD - Price can exit from pennant and then bounce upHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 A few moments ago price entered to falling channel, where soon broke $2720 level and then fell to support line. After this, price rose to resistance line and then continued to fall, until it broke $2610 level and fell to $2536 points. Then price turned around and started to grow in pennant, exiting from falling channel and soon breaking $2610 level. Later Gold rose to resistance level, which coincided with resistance line of pennant, which bounced down. Next, price was corrected to support level and some time traded near, and at the moment, XAU trades close support line. In my mind, price can leave pennant and then bounce up to $2720 resistance level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDLong
by WalterMoon
3
AUDUSD - Long-Term Long!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈AUDUSD has been overall bullish, trading inside the rising flat channel in blue. Moreover, it is rejecting a strong support in green. 🏹 The highlighted blue circle is a strong area to look for buy setups as it is the intersection of the support zone and lower trendline acting as a non-horizontal support. 📚 As per my trading style: As #AUDUSD is around the blue circle zone, I will be looking for bullish reversal setups (like a double bottom 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
Long
by TheSignalyst
19
ETHFI → A door has been opened to the bulls. Resistance retest BINANCE:ETHFIUSDT is forming a bottom. The coin continues to accumulate potential giving signs that the price is preparing to go up. The fundamental background is changing to favorable The U.S. presidential election and Trump's victory have a favorable impact on the cryptocurrency market in the medium and long term. This will be especially visible after the inauguration of the new (old) president :). Fundamentally, the market opened another door.... Technically, there is a clear bottom at 1.092 with no attempts to renew the low, and a basic cascading support is formed, indicating the buyer's strength. The focus is on consolidation of 1.798 - 1.092. The price exit from this channel will be accompanied by a strong distribution (most likely upward) Resistance levels: 1.798, 2.761 3.240 Support levels: 1.302, 1.092 There is a conglomerate of resistances ahead (descending line and channel boundary at 1.798). In the near future the market may continue to test this area with a breakout target. If the bulls can keep the defense above these areas, the rally will not be long in coming. Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:ETHFIUSDT.P ;) Regards R. Linda!
by RLinda
2
ETHEREUM → A coin is being prepared To The Moon ↑BINANCE:ETHUSDT is lagging behind the general market growth in the cryptocurrency world. The price is still squeezed between consolidation boundaries, but there are already positive signs. Bitcoin is close to 100K and altcoins are opening the season. Ethereum is lagging behind in the race, this is clearly visible on D1-W1. It's not that the price can't reach ATH, the coin hasn't yet updated the 2024 high. Before the start of the altcoin season, the community was skeptical about the fundamental project due to the behavior of the development team, but the victory of trump, the change of the political team to a pro-cryptocurrency one could be the strongest driver for ETH in recent times. After local distribution, the price is testing the triangle resistance, forming another accumulation. A retest of the upper boundary indicates the formation of a trigger, the breakout of which will activate the rally. Resistance levels: 3442, 3568 Support levels: 3028, 2820 Technically, the coin shows us another trading range, the role of which is consolidation. If the resistance cannot be broken from the third time, a correction before further growth is possible. BUT! We need to be careful, as any BTC correction can trigger a bearish rally in the altcoin market. Bitcoin has almost reached 100K and for many this is a red zone for profit taking. Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:ETHUSD ;) Regards R. Linda!
Long
by RLinda
22
BITCOIN → The market is getting ready to pass 100K. New targets?BINANCE:BTCUSD after a strong rally is consolidating without the possibility to form a deep correction, which indicates that the coin is ready to update the highs and go higher, for example, to 100-105-110K. Despite the fact that bitcoin is losing its dominance in the market and it is possible to say that the alt season is open, the flagship of the cryptocurrency market has a huge potential to continue the rally. At the very least, the market is interested in reaching 100K, from which we are one step away. Fundamentally: whales continue to accumulate the asset, buying up at every opportunity. Trump with his policies on cryptocurrencies is still a strong driver for the flagship and the cryptocurrency market as a whole... Technically: The recent local correction is just a trap to gather liquidity before further growth. Pullbacks are now attracting large institutional buyers Resistance levels: 99K, 100K Support levels: 94.7K, 91.25K, 89.2K An ascending triangle can be seen on the chart, which can be interpreted as a buyer's interest in breaking the resistance. The bulls continue to put pressure on the market. Trigger 99K. If this zone is broken, bitcoin could go to 105K Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:BTCUSDT ;) Regards R. Linda!
BINANCE:BTCUSDLong
by RLinda
43
Qnt forming right shoulder on invh&s while retsting channel ttl I’m hoping the right shoulder quant is now forming here by retracing after reaching that top purple horizontal line, will be a very short shoulder with help from it’s recent golden cross and hopefully the support from the top trendline of the yellow channel that quant just recently broke above. Usually a right shoulder would last for a much longer period of time than I have drawn this one to last in order to be ore proportional with the left shoulder(not shown here), however loopring and a few other charts recently have had very small asymmetric right shoulders on the inverse head and shoulders patterns that their price broke upward from so that may also be the case for quant’s right shoulder as well. We will see soon enough, if Quant is to follow suit with the rest of the altcoin market it’s recent golden cross should give it the bullish momentum it needs to complete this right shoulder as a very small shoulder indeed.
COINBASE:QNTUSD
by DrDovetail
VET/USD 3-Day Chart - Uptrend, Potential Breakout, and Reversal This analysis examines the VET/USD 3-day chart, focusing on a potential uptrend, breakout target, and reversal signals. Identifying the Uptrend: Rising Channel Pattern The chart exhibits a rising channel pattern, characterized by price movements bouncing between an upward-sloping upper trendline and a lower trendline. This pattern typically suggests an uptrend, where the price makes higher highs and higher lows over time. Target Price Based on the Uptrend Channel The upper trendline of the channel can be used to estimate a potential price target for the uptrend. In this case, the analysis suggests a target of around $0.0600 for VET if the uptrend continues within the timeframe of the 3-day chart. Double Top Pattern: Reversal Signal or Resistance Test? An interesting observation is the presence of a possible double top pattern near the $0.053 resistance level. A double top is a bearish reversal pattern formed by two consecutive price peaks at approximately the same level, followed by a trough and a break below the support level between the peaks. If confirmed by a breakdown below the support level, this pattern could signal a potential trend reversal towards the downside. However, it's important to note that the double top formation might not be confirmed yet. The price could be attempting to break through the resistance at $0.053 for a continued uptrend. Strong Support Level: A Potential Buying Zone The chart also indicates a strong support level at $0.045. Support levels represent areas where buying pressure tends to increase, potentially halting or reversing a price decline. If the price falls, it might find support around $0.045, preventing a steeper decline. Additional Considerations for a Well-Rounded Analysis While the technical analysis of the channel pattern and potential double top provide valuable insights, a more comprehensive analysis should consider these additional factors: Trading Volume: Higher volume on breakouts (upward surges through the upper trendline) strengthens the uptrend's validity. Conversely, lower volume breakouts suggest a weaker uptrend susceptible to reversal. Technical Indicators: Technical indicators like the RSI (Relative Strength Index) or MACD (Moving Average Convergence Divergence) can be used to gauge momentum and identify overbought/oversold conditions. This can help pinpoint potential entry or exit points within the channel or during a breakout/breakdown. Fundamental News and Events: Staying informed about relevant news or events impacting VET's price is crucial. Announcements from the VeChain Foundation or partnerships with other companies can influence price movements. By combining these elements with technical analysis, you can develop a more comprehensive understanding of the VET/USD 3-day chart and potentially make informed trading decisions. Remember, technical analysis is a tool to assist with trading decisions, but past performance is not always indicative of future results.
COINBASE:VETUSDLong
by ParabolicP
1
$SPY December 5, 2024AMEX:SPY December 5, 2024 15 Minutes 60 Minutes Gaps not getting filled. Very strong uptrend. Being a moving average and Fib trader i do not have a setup for fresh entry or short. At the moment if any pull back 60o is the number to watch. It is 9 moving averages in day, and 38.2% retracement for the move 587.43 to 607.91. AMEX:SPY not even breaking 21 averages in 60 minutes since the move started from 587.43. HH HL pattern. No way to short. At the moment even if I short at 601 levels the target is only 598. So not much R:R. Need to continue the longs for 608-612 as initial target provided 601 is holding. I have no position.
AMEX:SPY
by RiderTrader
12
Descending channel from the 1 month chart timeframeI just posted a version of this channel on the 3 month chart timeframe, however looking at the month time frame I also found some bullish confluence to confirm this potential channel. A deeper correction now that we have retested the top trendline of this potential channel would not surprise me from here. I arbitrarily put the measured move lines for when we could break up from this channel around May 2024, simply because the halvening occurs in mid to late april so it seemed like a reasonable area to expect us to finally overcome this channel. We’re we to break up from the channel in that exact spot, the measured move for the channel breakout on its own looks like it would take us to 80k. If it was more than just a channel and also a valid bull flag the measured move I get for the bul flag appears to be slightly under 100k. On the 3 month chart the bull flag was slightly over 100k but that may also be because I placed the measured move line arbitrarily earlier than may as I have done for this 1 month chart representation. Will be interesting to see how this plays out. The silver lining here is that if this channel is valid and price is about to flip back to the down trend for a few it is simply another opportunity to accumulate for the upcoming liftoff which is likely to occur post halvening. *not financial advice*
BITSTAMP:BTCUSD
by DrDovetail
CLFD TO $32.50MODs 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 plan is very simple. I buy or sell at top & bottom of parallel channels. I confirm when price hits Fibonacci levels. So... Here's why I'm picking this symbol to do the thing. Price at bottom or below channels (period 100 52 39 & 26) Stochastic Momentum Index (SMI) at oversold overbought level VBSM is spiked negative Price at 2.618 Fibonacci level In at $27.45 Target is $32.50 or channel top Stop loss is $25.50
NASDAQ:CLFDLong
by chancethepug