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Parallelchanel

NVDA: Placing the Rally in ContextPrimary Chart: NVDA's Primary Trend Since Its All-Time High November 22, 2021, with Anchored VWAPs SUMMARY: NVDA appears to have begun a countertrend rally within the context of a sharp downtrend. Other countertrend rallies have ranged from 28.9% to 40.17%. Don't be fooled by a show of strength that does not change the overall structure. Countertrend trading is lower probability, but can be lucrative if risk is managed with great discipline. The most conservative upside target (resistance) range for this rally is $128-$130. This would be reached, if at all, in the next week or two. If the $128-$130 level is reclaimed successfully, then the next higher target to consider is the $145-$150 range discussed below. Watch the green uptrend line off the YTD low on October 13, 2022 and the red VWAP anchored to the YTD low. If either is broken, all bets are off. NVDA has rallied about 15.58% off its YTD lows on October 13, 2022. The lows have not been undercut now for a little over a week. Broader equity indices have rallied as well, with the S&P 500 and the Nasdaq 100 both gaining about 2.3% on Friday. NVDA rallied along side both these indices. 1. NVDA's rally could continue into the FOMC meeting on November 1-2, 2022. The FOMC is likely to increase interest rates by .75 percentage points at the November 2022 meeting. The CME's Fed watch tool, tracking federal-funds-rate futures products, shows the probability of a 75 bps hike at 88% for November. Have markets already discounted this? Probably. What is unknown is whether any change in the Fed's messaging will occur or will the Fed maintain its higher-for-longer hawkish stance to deal with sticky inflation. Fed officials have spoken in recent weeks expressing dissatisfaction with the current inflationary environment and its ramifications for price stability. 2. Pullbacks may likely respect the very short-term VWAP anchored to the YTD low (red VWAP anchored to October 13, 2022). Watch this VWAP for support. If the VWAP is violated, it will be important to determine if the violation is decisive (slicing through and showing no sign of reverting back to the level) or if the violation is minor and brief. 3. NVDA just closed above its 21-day EMA, which lies at 124.16. Today's close was 124.66. 4. Before any higher price targets can be taken seriously, NVDA must reclaim its 34-day EMA (currently just below $130) as well as a key Fibonacci level (teal .236 level at $128.10) (shown just below this paragraph). This is the most conservative target zone for a countertrend rally. Supplementary Chart: Fibonacci Levels 5. A more ambitious zone for a price target may be considered only if the 34-day EMA is recovered first. This secondary target zone comprises two technical levels: (a) the VWAP anchored to the August 4, 2022, high currently located at 143.08, and (b) the gap fill area (teal-blue rectangle) at $145 to $150. 6. It remains crucial to place any rally into context, even if the rally seems like a powerful rally that is unstoppable for a while, like some of the other bear rallies in this market. Massive bear rallies can trick market participants into thinking the lows may be in, and lure them with fear of missing out. Other countertrend rallies have ranged from 28.9% to 40.17%. Don't be fooled by a show of strength that does not change the overall structure. Countertrend trading is lower probability, but can be lucrative if risk is managed with great discipline. 7. The larger context is a downtrend at the degree of the primary trend. All major swing highs and lows over the past year have been lower highs and lower lows. The anchored VWAP at the all-time high (dark purple) remains well overhead. Price would have to rally and hold the $190-$200 level to show material structural change. All other rallies will constitute noise at the larger degree of trend. In other words, the downtrend channel should contain any rallies for the time being. If not, then it becomes appropriate to consider whether a larger-degree structural change is occurring that may lead to a major trend reversal. Please note that SquishTrade is "cautiously bullish" only for the next week. In the larger scheme, the outlook remains bearish until substantial evidence appears that structural trend change is occurring at the larger degrees of trend. This remains unlikely with interest rates breaking above a 40-year trendline as discussed in this post:
NASDAQ:NVDA
by SquishTrade
29
GBPUSD-Weekly Market Analysis-Nov22,Wk2Let me know if this analysis confused you. Comment at the bottom; I like to know. The entire structure is on a bearish trend; there is an ascending channel that is shaded red, from that you know that my bias is looking for a shorting opportunity. As long as the market movement is kept within 1.1736, the bearish trend is considered very strong. Failure to do so, I will patiently wait for the market retest 1.2572 for a shorting opportunity on the Bearish Butterfly Pattern setup.
Short
by RaynLim
2
$XAUUSD - Might jump to $1800Hi guys! 👋🏻 🔔 Gold hit $1670 today after the release of NFP and negative employment data. China’s plan to resume flights could bolster weakening of the US Dollar and support the continuation of this bullish run. 🔔 XAUUSD made an important test and a breakout from the dynamic resistance of March 2022. The $1615 - $1617 support level withheld a downtrend pressure backing a formation of a triple bottom pattern. 🔔 As of now, XAUUSD is traded at $1674 and is testing a major resistance at this level. To close the trading week, Gold might retrace from these levels near $1655, gain more power and try to break the $1674 resistance later. 🔔 When the uptrend continuation is confirmed, and gold closes above $1674, look for resistances at $1720 and $1801. ✊🏻 Good luck with your trades! ✊🏻 If you like the idea hit the 👍🏻 button, follow me for more ideas.
OANDA:XAUUSDLong
by azizelliott
USD/CHF: detailed chart breakdown and the next target Judging by the fact that a solid ascending channel has been formed, the middle to long-term sentiment of the pair is expected to remain bullish. At the moment, the price is ranging within the borders of the consolidation box identified on the chart. The previous DAILY candlestick has closed impulsively bearish, which means there is still a bit of room for the price to drop. We are eyeing the area below the range that lines up with the lower boundary of the ascending channel for entering long positions. Our initial target will be set at the area of resistance plotted on the graph.
Long
by Investroy
13
HBAR / BTC in a Parallel Uptrend?Quick chart here. Is HBAR / BTC in a parallel uptrend? We still need 3 touches at top and bottom to confirm this. If this is correct, we're at the bottom of the trend now and should see another trip to the top. Should we do that and stop at the top, expect to see a third trip to the bottom as well. MACD and RSI are also pointing to a reversal here, as confluence. An alternative possibility, if we hold channel bottom and then break channel top, this could turn into a giant inverted head/shoulders and become much more bullish sooner.
Long
by dudebruhwhoa
1
Where are commodities heading to? Beyond 2022Where are the meat or commodity prices heading? Meat prices have been rising at a rate of about 3% per annual over the last 40 years. Meat is what I classified as an edible commodity, so is corn, wheat and rice. And as these commodities start picking up in prices, they are the one that will give the central banks a huge headache and to consider to hike its interest rates than the other commodities in the CPI basket. Why is this so? In short, people can still live with some inconvenience without cars or petrol, but not without food. Therefore, there is an urgency for the policy makers to first take care of the basic needs of the people. Content: . Long-term direction of Live Cattle . Trading ideas . Investing ideas Disclaimer: • What presented here is not a recommendation, please consult your licensed broker. • Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises. A little hack here to project the coming CPI data and also to know how aggressive the Fed will be with interest rate hike - you may consider to track the development of these edible commodity prices, if it is still trending up, we should be expecting a higher CPI and interest rates. Example on Live Cattle Futures: 0.025cts = US$10 0.10cts = US$40 145.00 = 1450 x US$40 = US$58,000 From 144 to 145 = US$400
CME:LE1!
by konhow
9
⭕Best BUY & SELL areas for GBPUSD 💣🔰You can see the analysis of the British Pound in US Dollars in a four-hour time frame (GBPUSD _ 4H) 🔍 ✴️According to the price picture, it is moving in a parallel descending channel❗🧐 If the price can stabilize itself above the black🖤 line, then it can have an upward supply area🔺 In other words, if the price can stabilize itself below the orange🧡 line, then it can have a fall parallel channel to the bottom line🔻 which direction will the price go to the GREEN💚 side or the RED❤️ side❓❓ I hope the analysis was useful for you🤍🌹 📌Please introduce the channel to your friends 🙏🏻 ____________📈TRADER STREET📉_______________
by TRADER_STREET
$PETZ Next Target PTs 5-8 and higherTDH Holdings, Inc., together with its subsidiaries, develops, manufactures, and sells pet food products for pet owners in the People's Republic of China, Asia, Europe, and North America. It offers approximately 200 products, which include 4 product lines consisting of pet chews, dried pet snacks, wet canned pet food, and dental health snacks, as well as non-food items, such as dog leashes, pet toys, etc. The company sells its products under the Pet Cuisine, Hum & Cheer, and various other brand names. It offers its products to retailers and wholesalers, as well as through e-commerce platform. The company was founded in 2002 and is based in Qingdao, the People's Republic of China.
NASDAQ:PETZLong
by BADQOMOCAWGOWLD