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Parallel Channel

Nifty Trapped in Downward Parallel Channel. Fear grips D-street.Nifty post today's closing just above 23K has officially closed below Mid Channel within the downward channel. This is not a great news for bulls. The only silver lining in the cloud is that the closing is above 23K at 23024. Bollinger band is suggesting a support near it's lower band width that is 22936. Other supports for Nifty will be at 22785, 22465, 21886(Bottom of Parallel Channel) and 21232. Resistance on the upper side seem to be at 23355, 23542 (Mid-Bollinger band level), 23662 Father Line resistance of daily chart, 23878 Father line resistance of daily chart and finally 24148 (Channel top and Bollinger band top resistance). When channel top will be crossed and we get a closing above the same the next resistances will be at 24799 and 25134. Thus signs are looking ominous with RSI at 35.37. RSI support will be near 30 range. Nifty has once again entered Extreme Fear zone on Ticker tape index which shows it currently at 27.21. The zone below 30 is Extreme fear zone and long term investors tend to make much profit when they invest in these Extreme fear zone. The budget is around the corner. Donald Trump has taken oath and is taking decisions in a fast-forward T-20 mode. The momentum can shift any time. Global peace is also seeing green shoots with Israel and Palestine conflict ceasefire deal taking shape. We hope that Ukraine and Russia will also see a peaceful resolution. The hour before the dawn is the darkest. This looks like that zone for Global markets including India. Yes hardball tactics will be played by Trump and things will not come as easily as they were coming for India. We had once said that Trump will be good for the world as Biden was softer towards India on the outer surface. In the long run we will soon begin to see light at the end of the tunnel. Little more pain may be left for Indian indices. Result season so far has been a mixed bag that is adding fuel to the wild-fire set by bears. Budget/ Quad meeting later this year and world moving towards peace can set the ball rolling for Bulls sooner than later. Once again I emphasize that sensibel investments done in the extreme fear zone yield to the best results in the long run. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock or index. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. I or my clients might have positions in the stocks that we mention in our posts. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTY
by Happy_Candles_Investment
EURO - Price can correct to support area and then bounce upHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Some time ago price entered to flat, where it some time traded between $1.0460 level and top part of flat. Later, when price reached top part of flat again, it turned around and started to decline, and soon broke $1.0460 level. Price exited from flat and continued to decline in falling channel, where it some time traded near resistance area first. Next, Euro dropped to support level, after which at once bounced up to resistance line of channel and then fell back. Also, price fell to support line of channel, but soon backed up and now trades close to $1.0260 level. In my mind, Euro can fall to support area and then bounce up to $1.0380 support line of falling channel. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
8
USDCHF: Bearish Reversal Confirmed?! 🇺🇸🇨🇭 One of the setups that we discussed on a today live stream was on USDCHF. The price violated both a neckline of an inverted cup & handle pattern and a support line of a rising parallel channel on a daily. The broken horizontal support and a trend line compose the expanding supply zone now. With a high probability, the price will drop from that at least to 0.9047 level. ❤️Please, support my work with like, thank you!❤️
Short
by VasilyTrader
1
GBPUSD Wave Analysis 20 January 2025 - GBPUSD reversed from support area - Likely to rise to resistance level 1.2365 GBPUSD currency pair recently reversed up with the daily Hammer from the support area located between the long-term support level 1.2095 (former Double Bottom from October), lower daily Bollinger Band and the support trendline of the daily down channel from September. The upward reversal from this support area started the active medium-term upward correction (4). Given the strength of the nearby support level 1.2095 and the significant US bearish sentiment, GBPUSD currency pair can be expected to rise to the next resistance level 1.2365.
Long
by FxProGlobal
USDCHF Wave Analysis 20 January 2025 - USDCHF reversed from the resistance zone - Likely to fall to support level 0.9000 USDCHF currency pair recently reversed from the resistance zone located between the key multi-month resistance level 0.9185 (which stopped the daily uptrend last April), the resistance trendline of the daily up channel from September and the upper daily Bollinger Band. The downward reversal from this resistance zone created the daily Evening Star, which stopped the previous sharp upward impulse sequence (C) from December. USDCHF currency pair can be expected to fall to the next round support level 0.9000, the former resistance from December.
Short
by FxProGlobal
USDCHF - Reversal Soon!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 USDCHF has been bullish trading within the rising channel in orange. Currently, USDCHF is approaching the upper bound of the channel. Moreover, the blue zone is a strong resistance. 🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the blue resistance and upper orange trendline. 📚 As per my trading style: As #USDCHF is around 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
Short
by TheSignalyst
9
Gold Price Analysis: Key Insights for Next Week Trading DecisionThe market is buzzing with mixed feelings as we approach Donald Trump's inauguration as US President-elect. Gold prices have retreated from a one-month peak, with some investors jumping on the opportunity to buy the US Dollar at perceived dips. Despite this, gold remains heavily influenced by the geopolitical and domestic political climate in the US. Recent inflation data, combined with comments from Fed Governor Waller, have put pressure on the Dollar, with traders betting on an earlier rate cut. Waller hinted at the possibility of a rate cut as soon as the March meeting, noting that inflation is nearing the Fed's 2% target. In this video, we explore how these developments could shape the gold market moving forward. #GoldAnalysis #XAUUSD #GoldPrice #TrumpInauguration #USDIndex #InflationData #FedRateCuts #GoldTrading #ForexAnalysis #MarketTrends Disclaimer Notice: Trading in the foreign exchange market and other instruments carries a high risk and may not be suitable for all investors. The content provided here is for educational purposes only. Evaluate your financial situation and consult with a financial advisor before making any investment decisions. Past performance is not indicative of future results.
SAXO:XAUUSD
by darcsherry
8
GOLD - Price can fall a little and then continue to move up nextHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 Some days ago price dropped from $2705 level and fell to $2536 points, breaking $2610 level and entering to triangle. In this pattern, price at once made an upward impulse to resistance area and then made correction movement. After correction, price some time traded near $2610 level and then exited from triangle and rose back to resistance area. Then Gold turned around and dropped to support area, after which started to grow inside a rising channel. In channel, price broke $2610 with $2705 levels and now trades very close to $2705 level in resistance area. So, I think that Gold can fall a little below than support level and then continue to grow to $2750 points in rising channel. If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDLong
by WalterMoon
3
BITCOIN → Correction before further flight to 112-120KBINANCE:BTCUSD surprises everyone again with this week's rally. After retesting the panic and risk zone, when many started selling, the price turned around and flew 18% in a few days.... One week old idea: BITCOIN → Retest of key support. What can happen? There could be several factors behind the gains that have been forged over the past 3 days: New reports point to increased activity from major players, including institutional investors, Trump's upcoming inauguration, the crypto community is expecting the new president to take active steps. And overall, the bullish three-day run is a combination of macroeconomic factors, technical breakdown and fundamental confidence in the future of cryptocurrencies. All of this created a strong bullish momentum that attracted new buyers and increased institutional investor interest. From a technical perspective, the 100K and 102.5K area plays an important role for me. If the bulls can keep the price above this zone, the growth will continue in the medium term. Support levels: 102.5K, 100K Resistance levels: 103.6K, 105.7K, 107.5K Technically, at the moment, a pre-breakdown situation is forming on H1 against the support at 102.8. Accordingly, bitcoin may form a correction to both 100K and 97.5K. But, if the fall will quickly recover or the bulls will keep the defense above 100-102.5K, then further we can count on growth up to 108-112K. Regards R. Linda!
BINANCE:BTCUSDLong
by RLinda
12
Bitcoin on 'Pause' for brief moment!Seems like Bitcoin is making its moves in bullish fashion and is now exiting from the pause phase . Let me break down those phases for you: Consolidation, Bull, Pause, Bull... On the chart, I’ve highlighted these phases: Consolidation Phase: This is represented by a channel pattern , where the price moves within a defined range. Bull Phase: This is the parabolic movement , showing strong upward momentum. Pause Phase: This takes the shape of a triangle , signaling a temporary slowdown before the next move. What’s fascinating is that all these patterns — channel, parabolic, and triangle shapes —have unfolded during the 2023–2024 bull run . Together, they form a rising channel , reinforcing the broader bullish structure. Let’s see where Bitcoin heads next! 🚀
COINBASE:BTCUSD
by ArShevelev
Amazon’s Stock Stuck in a Downhill Slope or Ready to Escape ?Amazon's stock price movement on a 4-hour timeframe, presenting a descending channel pattern. This pattern is often associated with bearish sentiment, as it reflects a market structure characterized by lower highs and lower lows, signaling a consistent effort by sellers to dominate price action. Currently, the price is trading near the upper boundary of the channel, which acts as a dynamic resistance level. Historically, such resistance zones within descending channels tend to attract selling pressure, reinforcing the bearish outlook. If the price fails to break above this resistance and shows rejection signs (e.g., long wicks or bearish candlesticks), it could confirm a continuation of the downtrend, targeting the lower boundary of the channel as the next support level. It is crucial to monitor this resistance area closely, as a breakout above the channel could shift the sentiment from bearish to bullish. For such a breakout to be credible, it must be accompanied by strong volume and decisive candlestick patterns, such as a bullish engulfing or a breakout gap. In that scenario, the price could invalidate the descending channel and initiate a reversal, targeting higher resistance levels. Additionally, the broader market context and fundamental factors should be considered. If the stock is supported by positive catalysts or market sentiment, it could strengthen the likelihood of a breakout. Conversely, weak sentiment or negative news could intensify the bearish momentum, leading to further downside. The chart currently reflects a bearish bias due to the descending channel structure. However, the key to determining the next move lies in the price action and volume near the upper resistance line, which will decide whether the pattern continues or reverses.
NASDAQ:AMZNShort
by wolfchemist
11
TRUMP - High volatility, no highs to be seen - yetIt looks as though the TRUMP coin is trading within a range. Lots of chop, but no clear sign of a breakout to the up or downside. The recent red candle shows an 85% correction in one day. That's hugely impressive and will low liquididy this 'meme' coin could also fall off a cliff to the same degree. Sorry but there's too much at risk here, especially being connected to geo-political events and instability. Either way, it looks to be bouncing off the bumbers for now in a succinct WXYXZ fashion. Either trend line breach will signal a higher high or lower low. Follow and share for more.
by cryptechcapital
1
Descending Channel on EUR/NZD @ D1A descending channel pattern formed on the daily chart of the EUR/NZD currency pair following a month-long uptrend. The pattern's borders are marked with the yellow lines. The potential entry level is at the cyan line. The potential take-profit level is at the green line. The stop-loss can be set to the low of the candle preceding the breakout candle. It's not shown on the chart. I will ignore bearish breakouts from this descending channel formation.
Long
by AndriyMoraru