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Parallel Channel

Break of downward sloping channel LongNike has swept liquidity and is now showing a strong bounce to the upside. Although I didn’t manage to enter the initial long, I am monitoring for a break above the current downward-sloping channel. A clean breakout followed by a retest would provide a more reliable entry point. I’m not aiming to catch the absolute bottom—I’d rather wait for confirmation of trend reversal. A move above the monthly level at 79.46 would be an additional sign of strength and increase conviction in the long setup. There is still significant overhead resistance, particularly around the point of control aligned with the anchored VWAP near 92.50. That area would be my first target. However, if momentum continues, there is potential for a move towards the 122 level.
NYSE:NKELong
by Dooban
PENGU = ETF Catalyst + Whale Accumulation = +30% More Upside?Today, on the weekend, I want to analyze the Pudgy Penguins project with the PENGU ( BINANCE:PENGUUSDT ) token from a fundamental and technical perspective . Please stay with me. Why did PENGU surge nearly 40% in just 48 hours? Here’s what’s driving it: ------------------------------------------ Fundamental Analysis: 1. ETF Momentum via Cboe: On June 26, Cboe officially filed a 19b-4 form for a new ETF that includes Pudgy Penguins and PENGU as major components. Although not yet approved, this single move has fueled strong institutional anticipation, similar to what happened with Bitcoin ETFs in early 2023. The market often prices in future narratives — and this ETF storyline has been a powerful one. 2.Whale Accumulation Signals According to Nansen data, large holders have increased their balances by 11.37%, and notable wallets linked to public figures by 7% over the last 30 days. Such coordinated accumulation often precedes major price moves, and that pattern seems to be repeating here. 3.NFT Ecosystem Boost The Pudgy Penguins NFT collection saw a 400%+ surge in sales volume. This sharp increase in NFT activity has reignited attention toward the broader Pudgy ecosystem, which naturally benefits its native token, PENGU. Risk Note: The ETF is not yet approved — we're still in the hype phase. Volatility remains high, and strong pullbacks are common in low-liquidity tokens like PENGU. If whale activity continues and institutional narratives grow, the upside potential remains — but so does the downside risk. ------------------------------------------ PENGU token started to rise from the Support zone($0.01-$0.0076) . One of the signs of a continuation of the uptrend was the break of the upper line of the descending channel . Educational Note: One of the price targets after a channel break can be as wide as the width of the broken channel. In terms of Elliott Wave theory , it seems that the PENGU token has completed the Double Three Correction(WXY) , and we can wait for the next impulsive waves . I expect the PENGU token to attack the Resistance zone($0.0128-$0.0118) again, and if this zone is broken , it can increase to at least $0.0137(+30%) . What is your idea about the Pudgy Penguins project? Note: If the PENGU token drops below $0.01, we can expect a break of the Support zone($0.01-$0.0076). Please respect each other's ideas and express them politely if you agree or disagree. Pudgy Penguins Analyze (PENGUUSDT), 4-hour time frame. Be sure to follow the updated ideas. Do not forget to put a 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.
Long
by pejman_zwin
15
Gold may bounce up from support line of channel to 3330 pointsHello traders, I want share with you my opinion about Gold. Previously, the price broke out of a symmetrical triangle and moved confidently toward the seller zone. However, it failed to consolidate there and formed a downward channel, where price action has remained since. The movement inside this channel has been consistent, respecting both the resistance and support lines. After reaching the lower boundary, the price bounced up and approached the resistance area (3290 - 3300), which now acts as a key short-term obstacle. This zone was tested multiple times and served as support earlier, making it a strong technical level. Currently, the price is trading just below this zone and forming a base for the next move. I expect a possible retest of the support line of the downward channel, which may provide the impulse needed for a new upward move. In my opinion, the price will rebound from the bottom of the channel and start to grow toward the current resistance level at 3300. If this level is broken and confirmed via a retest, I expect continued movement toward the channel’s upper resistance line. That’s why I set my TP 1 at 3330 points, right near the resistance line of the channel. Please share this idea with your friends and click Boost 🚀 Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.
THINKMARKETS:XAUUSDShort
by LegionQ8
21
GOLD → Local bearish trend. Retest of support.FX:XAUUSD is technically looking a little weak. Support is being retested amid de-escalation of geopolitical conflicts in the Middle East. Interest in the metal is waning. On Friday, gold remains under pressure ahead of data on the core PCE index, a key inflation indicator for the Fed. If inflation turns out to be higher than expected, this could strengthen expectations of a rate cut as early as July, supporting gold. The probability of a July cut is currently estimated at 21%, and 75% for September. Amid dollar volatility caused by rumors of a possible Fed chair replacement and trade negotiations with the EU and China, traders remain cautious, awaiting clarity on inflation and monetary policy Technically, before falling, gold may form a correction to 3320 (liquidity capture). Resistance levels: 3320, 3336, 3347 Support levels: 3293, 3271 If the fundamental background remains unchanged and gold continues to decline towards support at 3293 and break through this level, the breakout could lead to a fall to 3271. However, I do not rule out the possibility that after a sharp decline, a correction to 3320 could form before the fall. Best regards, R. Linda!
FX:XAUUSDShort
by RLinda
15
USDCHF → Hunting for liquidity before the fallFX:USDCHF , against the backdrop of the falling dollar and the exit from consolidation, is forming another ‘bos’, which only confirms the market sentiment. The fall of the dollar only increases pressure on the currency pair. The price has broken out of consolidation and is trading below the key level. USDCHF has broken through a fairly strong support level, which only confirms the bearish market structure. A correction is forming ahead of a possible decline (liquidity capture). Resistance levels: 0.803, 0.8042 Support levels: 0.798, 0.79 Fundamentally and technically, the currency pair looks weak. The decline may continue after the liquidity capture phase and a retest of resistance. A false breakout of resistance will be a strong signal. Best regards, R. Linda!
Short
by RLinda
10
EURUSD Technical Breakdown | Bearish Reversal Ahead?The Euro is showing signs of a potential major trend reversal after completing a strong rally within an ascending channel. 🔎 Chart Analysis: Price surged out of a long consolidation range and followed a parabolic curve. The pair reached the upper boundary of the ascending channel and started stalling. Early signs of a distribution phase are visible, hinting at possible downside momentum. 📉 Bearish Scenario In Play: A break below 1.1600 could accelerate the sell-off. Key support zone at 1.14526 — potential first reaction level. If momentum continues, next major support rests at 1.12329. Short-Term Outlook: Watch for breakdown confirmation below the channel. Risk management is key; consider short entries on bearish candle confirmation. 💬 What’s your view? Are the bears finally taking over EUR/USD? Drop your thoughts below! 👇 #EURUSD #Forex #TechnicalAnalysis #PriceAction
Short
by James-Pipstr
Bitcoin may reach resistance level and then start to declineHello traders, I want share with you my opinion about Bitcoin. Previously, the price was trading inside a well-defined downward channel, repeatedly rebounding from both the support and resistance lines. Each upward move got rejected within the seller zone, especially around the 108500 - 109200 range, which acted as a strong barrier multiple times. Later, BTC dropped to the buyer zone near 102700 - 102000, and from there, we saw a strong impulse up. This impulse broke through the channel resistance line and the support area, indicating a short-term bullish breakout. At the moment, the price is approaching the resistance level at 108500, which previously served as a turning point. Given that this area also aligns with the upper boundary of the seller zone, I believe we may see another reversal from this level. In my opinion, after reaching resistance, BTC may start a new downward wave, targeting the 102700 support level. This is where I’ve set my TP 1. Considering the recent breakout, the historical significance of the resistance, and the strong reaction from seller zones, I remain bearish in the short term and expect a potential decline toward support. Please share this idea with your friends and click Boost 🚀 Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.
Short
by LegionQ8
21
XRP UG-ah-LYXRP has been slowly chopping lower in a mess of overlapping candles. Lower highs and lower lows at the Highest degree. The trend is down and the Elliott Is ugly. There is a chance here for the trend to shift, but that low needs to hold. In Elliott Wave, ugly can be useful. An ugly pattern often screams correction. That is the working assumption right now. This structure could still be a complex wave four. Even though the wave count has not been crystal clear, I am not flying blind. I am using support and resistance to track the structure and wait for clarity. Here are the levels that matter right now: 3.4005 was the major high 3.0257 and 2.2762 are key reaction zones 2.6510 is the median and the first major line bulls need to beat 1.9736 is the old high that price continues to bounce from 1.9015 and 1.5267 are the potential downside reaction zones if the yellow path unfolds If this is a correction, there is still potential to hold above 1.62 and send. If that level goes, the structure shifts fast to lower targets. This is not the time to get brave without confirmation, mo. Ugly price action can still resolve cleanly. But I want to see an impulsive move through one of these levels, followed by a corrective return to that level. That would offer a more ideal continuation in whichever direction price decides. Let the level reactions speak first. I will act after.
Long
by CryptoKnee
EURCAD - Weekly Resistance Might Shift The Momentum!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈EURCAD has been overall bullish trading within the rising channel marked in blue. However, it is currently approaching the upper bound of the channel. Moreover, the red zone is a strong weekly resistance. 🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the upper blue trendline and resistance. 📚 As per my trading style: As #EURCAD approaches the red circle zone, 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 Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Short
by TheSignalyst
3
GOLD → Within range. Retest resistance at 3347FX:XAUUSD continues to correct after a false breakdown of support at 3300. Due to uncertainty, the price may remain in the range of 3300-3340 for some time. Gold is fluctuating amid a weak dollar and uncertainty over Fed rates. Gold is struggling to hold on after rebounding from weekly lows, despite the US dollar falling to multi-year lows. Pressure on the dollar has intensified due to Trump's criticism of the Fed and rumors of a possible replacement for Powell. However, gold is limited in its growth due to a pause in geopolitical tensions and hawkish signals from the Fed chair. Investors are awaiting key macro data from the US (e 12:30 GMT Durable goods orders, GDP, Initial Jobless Claims) and especially the PCE inflation report on Friday. Technically, the focus is on key areas of interest: 3300, 3306, 3340, 3347. Until strong news emerges, an intraday trading strategy should be considered. Resistance levels: 3347, 3357 Support levels: 3320, 3307, 3300 Technically, a false breakout of resistance at 3347 and a retest of the local liquidity zone at 3320-3307 are possible before growth continues for the reasons mentioned above. Targets could be 3347, 3364, 3372, and 3396. Best regards, R. Linda!
FX:XAUUSDLong
by RLinda
26
GBPUSD → Pre-breakout consolidation. One step away from a rallyFX:GBPUSD is trading in consolidation. Against the backdrop of the falling dollar index, the currency pair is testing resistance at 1.3632 but is not yet ready to bounce down. Against the backdrop of the dollar's decline due to fundamental reasons, the GBPUSD currency pair is strengthening. Technically, this could lead to the price breaking out of consolidation upwards. A pre-breakout base is forming relative to the upper boundary of consolidation. The price is compressing towards the level, volatility is decreasing, which in general could lead to a breakout of resistance - trigger 1.3632. The exit from consolidation may be accompanied by distribution. The liquidity zone with W1 can be considered as a target. Resistance levels: 1.3632, 1.3743 Support levels: 1.3593, 1.3508 The global and local trends are bullish. After growth, consolidation is forming. Against the backdrop of the falling dollar, GBPUSD is testing resistance. The reaction to the false breakout of resistance is weak. The chances of a breakout are quite high. Best regards, R. Linda!
Long
by RLinda
14
Euro may start to decline to support line of upward channelHello traders, I want share with you my opinion about Euro. Earlier, the price was trading inside a downward wedge, gradually making lower highs and lower lows. After reaching the bottom of the wedge near the buyer zone (1.1210 - 1.1180), we saw a strong bullish impulse that broke through both the resistance line of the wedge and the support area near 1.1450 - 1.1485. This breakout signaled the beginning of a new phase - a transition into an Upward Channel. Since then, the price has been forming higher highs and higher lows, respecting both the upper and lower boundaries of this new structure. Along the way, it has rebounded from the support line multiple times and recently made a strong move up toward the resistance line of the channel. Currently, the price is approaching that resistance line, which may act as a potential reversal area. Given the previous price behavior and the clearly defined channel, I expect the price to reach the top boundary and then start to decline toward the lower support line. That’s why I’ve set my TP 1 at 1.1555 points, which aligns perfectly with the support line of the upward channel. Based on the recent breakout, the structure of the trend, and the reaction from key zones, I remain short-biased for the upcoming sessions. Please share this idea with your friends and click Boost 🚀 Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.
Short
by LegionQ8
3
GBPUSD Hits Channel Highs – Watch for Exhaustion or BreakoutGBPUSD continues its impressive rally, tapping into the upper boundary of a clean ascending channel across the 1D and 4H timeframes. 🔹 Daily: Structure remains bullish with price pressing into long-term channel resistance near 1.3765. This is a key inflection point — bulls may need fresh momentum to break above. 🔹 4H: Sharp impulsive move has stretched to the upside channel line. RSI likely overextended. Look for signs of exhaustion or bearish divergence here. 🔹 1H / 23m: Lower timeframes show aggressive bullish control, but price is stalling near the highs. If we break structure or reject this zone, we could see a correction toward 1.3660 or deeper. 📉 If rejection occurs here, short opportunities may present toward mid-range or trendline support. 📈 If we break and close above 1.3780 with volume, continuation toward 1.3850 becomes likely. 💡Key Levels: • Resistance: 1.3780, 1.3850 • Support: 1.3660, 1.3600
by AutoMarkets
GOLD - Price can continue to move down in falling channelHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 Some days ago price bounced from support level and started to grow to $3400 level, making a small correction before. When it reached this level, price entered to wedge, where it made a correction and then started to grow. In a short time, price exited from wedge and soon broke $3400 level, but then it started to decline in a falling channel. In falling channel, Gold broke $3400 level one more time and in a short time declined to $3305 support level. After this movement, Gold turned around and started to move up to resistance line of channel. I expect that Gold can reach resistance line of channel and then start to decline to $3295 support area. If this post is useful to you, you can support me with like/boost and advice in comments❤️ Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.
THINKMARKETS:XAUUSDShort
by WalterMoon
8
EURO - Price can correct and then continue move up in channelHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Recently, price entered to triangle, where it at once made an upward impulse from support line to resistance line. Price broke $1.1070 with $1.1430 levels, after which turned around and started to decline, breaking $1.1430 level again. Next, price exited from triangle and started to grow inside rising channel, where it rose near support line long time. Later it reached $1.1430 level one more time and soon broke it again, after which made retest and continued to grow. But when it reached resistance line of channel, it made correction movement to support area and then bounced up. Now, I think that Euro can fall to support line and then continue to move up inside rising channel to $1.1800 If this post is useful to you, you can support me with like/boost and advice in comments❤️ Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.
Long
by WalterMoon
10
EURUSD Wave Analysis – 25 June 2025 - EURUSD broke resistance level 1.1575 - Likely to rise to resistance level 1.1800 EURUSD currency pair recently broke the resistance level 1.1575 , which is the former monthly high from the middle of April. The breakout of the resistance level 1.1575 continues the active short-term impulse wave 3 of the intermediate impulse wave (3) from the start of May. Given the strong daily uptrend, EURUSD currency pair can be expected to rise to the next resistance level 1.1800, which intersects with the daily up channel from May.
Long
by FxProGlobal