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Parallel Channel

HelenP. I Gold can start decline to $2570 inside upward channelHi folks today I'm prepared for you Gold analytics. A not long time ago price some time traded near support 2, which coincided with the support zone and later fell to this area. After this movement, it turned around and tried to grow, but when it reached 2529 points, it turned around and started to decline. In a short time, XAU declined to support zone and then started to grow inside upward channel. In this channel, the price rose a little and then made a correction to support 2, after which started to move up next in the channel. Some time, the price rises near the support line of the channel and later rebounds up to support 1, which is located inside the support zone, and then breaks this level. Next, Gold reached the trend line, which is the resistance line of the channel also, and then made a correction movement below support 1. After this, Gold made impulse up to the trend line, breaking support 1 one more time, and now continues to trades near this line to this day. I expect that XAUUSD will start to decline to the support line, which coincides with the support level. For this case, I set my goal at 2570 level. If you like my analytics you may support me with your like/comment ❤️
OANDA:XAUUSDShort
by FirstNameHelen
11
ETH low is probably in. Up we goGreetings traders! This is my very first analysis, so feel free to roast me in the comment section :) Ethereum has possibly hit a macro low (and it would be a higher low) and it's ready to go up. Simple analysis based on historical behavior, where ETH has always respected an upward parallel channel from bear market low until bull market top, and breaking down that channel indicated in the past the end of the bull cycle. Some factors to consider: - ETH touched the bottom of the rising channel in the recent flash crash on August 5th at around $2100 and produced a decent bounce. A retest of this level is very possible. - This is a strong horizontal support level, marking the yearly open and the breakout from 2023 accumulation. - Additional support is also offered by the 200 week MA sitting around $2200. - ETH seems to have bottomed against BTC, showing massive bullish divergence at an important horizontal level of support. High chances of reversal soon. - A break below the rising channel would indicate extreme weakness for Ethereum, and possibly a failed bull cycle.. I personally think this is very unlikely. Nevertheless, let's pay attention to that level. Good luck everyone!
CRYPTO:ETHUSDLong
by crypto-rookie
4
$MRNA * MODERNA TC FIB EWP WEEKLY TF ANALYSISTechnical analysis of Moderna, Inc. (MRNA), using Elliott Wave Principle along with Fibonacci retracement levels. Here’s a breakdown of what I observe and what it might mean: 1. Elliott Wave Count : The chart features a labeled Elliott Wave pattern, with clear impulse waves and corrective waves (A, B, C). We seem to be in the C wave of a larger corrective phase, indicating that the stock is undergoing a downward correction after a prior upward impulse. 2. Fibonacci Retracements : Various Fibonacci retracement levels (0.382, 0.5, 0.618) are drawn on both the upward and downward moves. The chart suggests that the stock has already retraced past significant Fibonacci levels during its correction. The price is nearing the golden pocket retracement level ($48.60 to $43), which should act as a key support level. 3. Trend Channels : There are two visible trend channels: a green upward channel representing the previous bullish trend, and a red downward channel indicating the ongoing bearish phase. The stock appears to have broken out of the upward channel and is firmly within the downward channel, signaling the continuation of a bearish trend. 4. RSI (Relative Strength Index) : The RSI indicator at the bottom of the chart is around 31.34, which is close to the oversold region (typically below 30). This suggests that the stock may be nearing a point of exhaustion in its selling pressure, potentially signaling a reversal. Overall Interpretation: • Bearish Momentum: The stock is in a corrective phase, as indicated by the Elliott Wave count and the downward trend channel. • Key Support Levels: Prices around $48 are critical Fibonacci levels that may offer support. • Possible Reversal: The RSI suggests that the stock is approaching oversold territory, which could indicate a bounce or reversal soon, but it’s important to monitor how the price reacts at these levels.
NASDAQ:MRNALong
by Anakyn
3
BITCOIN - Price can break resistance level and continue to growHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 Some time ago price entered to triangle, where at once made downward impulse from resistance line to support line. Price broke $63700 and $54900 levels, but soon turned around and rose higher than $54900 support level, breaking it again. Next, BTC continued to grow and later reached resistance line of triangle, after which started to decline. In a short time, price fell to support area, thereby exiting from triangle and starting to grow in rising channel. In channel, Bitcoin rose to $63700 resistance level, where at the moment continues to trades very close. Possibly, price can make a small movement below and then bounce up to $67600, breaking resistance level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
7
USDJPY - Following The Bears!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 USDJPY has been bearish trading within the flat falling channel in red. Currently, USDJPY is undergoing a correction phase and approaching the upper bound of the channel. Moreover, the zone marked in blue is a previous major low. 🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the major low and upper trendline acting as non-horizontal resistance. 📚 As per my trading style: As #USDJPY approaches the red circle, 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
by TheSignalyst
1
BTCUSD: Confluence of 3 Bullish Patterns As seen in the chart, we have both a cup pattern and a beautiful flag pattern simultaneously within a large ascending channel. The price has not yet broken the flag pattern, so we do not have confirmation to enter a buy trade. However, the presence of multiple bullish patterns at the same time increases the likelihood of an upward move. If the flag pattern breaks, a buy trade can be initiated. The shared target for all three patterns is the $110,000 range.
BITSTAMP:BTCUSDLong
by Hakimi1260
1
EURUSD → get a long positionhello guys. as you can see the eurusd breakout the ascending channel and the last high! this position is based on a solid breaksout and if the stop loss touched then it means the breakout was a hunting! entry level= 1.1048 stoploss=1.0950 target1=1.1131 target2=1.115 atrget3=1.1268 ___________________________ ✓✓✓ Always do your research. ❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them. ❤︎ ❤︎ ❤︎And please don't forget to support this idea with your likes and comment
Long
by melikatrader94
13
FBU Monthly Fletcher Building On trading halt while they do a $700mil capital raise Hoping it drops to ~$1.80 ish for a long term buy due to technicals but fundamentally needs a restructure of debt or more equity... Carrying too much debt from memory due to their residential developments with long cash cycle payments which is problematic when the market stalls and buyers dry up Basically too much inventory... Hopefully they can convert some of these back into liquid cash.... and move on and perhaps focus a little more on the commercial projects and building materials that have better cash cycles
NZX:FBU
by dionvuletich
Bitcoin Needs Correction==>>Filling CME GapsBitcoin started pumping after the announcement of the US Federal Funds Rate ( The Federal Reserve lowered the US Federal Funds Rate by 0.5% to 5.00%. ). Considering that lowering Funds Rate is potentially good for the cryptocurrency market, lowering Funds Rate while the US government continues to print and spend money is a big mistake. I predict that investors may prefer bonds to riskier assets such as cryptocurrencies as interest rates fall. Bitcoin is currently moving in the Resistance zone($63,500-$61,460) , Potential Reversal Zone(PRZ) , near the 21_SMA(Weekly) and 200_SMA(Daily) , Yearly Resistance(3) and upper lines of the Ascending Channel . According to the theory of Elliott waves , Bitcoin seems to have succeeded in completing the Zigzag correction(ABC/5-3-5) . Also, Regular Divergence (RD-) between Consecutive Peaks . Before drawing a better conclusion, let's take a look at the USDT.D% and BTC.D% charts. USDT.D% is moving near the Support zone , the lower line of the Descending Channel and the Potential Reversal Zone(PRZ) . I expect USDT.D% to rise at least to the Resistance zone again, bringing down the Bitcoin price .👇 BTC.D% is moving in a Heavy Resistance zone. According to Elliott's wave theory , BTC.D% seems to be completing the main wave 5 with the Ending Diagonal . I expect BTC.D% to start its downward trend soon, which could cause Bitcoin to fall more than other tokens .👇 Based on the above explanation, I expect Bitcoin to at least drop to the Support zone($60,000-$59,100) and Support lines and fill the CME Gaps . Note: If Bitcoin can break the Resistance zone($63,500-$61,460), we should expect Bitcoin to rise to at least $65,000. Bitcoin Analyze (BTCUSDT), 1-hour time frame⏰. Do not forget to put 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.
Short
by pejman_zwin
44
RTX; few more years of slow gainLooks like RTX is in the last leg of an ending diagonal as shown in the parallel channel; A-B-C-D-E. I think we can see a corrective wave in toward the $90's which would be a good buying opportunity, once we hit near $130-$150...time to take profits and wait many years for the low between $40 and $70. I think the blue arrow path is the relative future direction. If we get a sharp steady move like we did in 1995 and 2003, ignore this; especially if the monthly breaks and closes above the channel. It's unlikely we will see much gains on RTX after 2025-2026 based on this history. The 1995 massive gain was a 3rd wave which we won't be seeing in our life time; unless you're a teen. Just wanted to note RTX and many equity charts look great and a nice slope upward, but as you can see there are very long periods of practically no gain. Take that into consideration when managing you portfolio.
NYSE:RTXLong
by shamgar331
Nvidia looks pretty flat these days but it needs to MOVE ! We believed Nvidia would make the turn to validate and then break point #5, but that wasn’t the case. Nvidia remains within the bearish sequence, but it still hasn’t been able to give us confirmation of reaching point #5. The only thing we need to consider is the structure of the bearish channel, in which the most important part of this structure is our GAP zone (blue), as that’s where most buy orders are positioned, and we can see it has respected it correctly (see green circles). The scenario over the last few days looks very flat; Nvidia has to break the line it’s currently on to activate our point #5 or, in another scenario, retest the GAP Zone, which it has already tested and is of great importance since that's where the largest number of buy positions are concentrated. So, if it comes back to touch our GAP Zone (Blue), you know what to do! Best regards, and thanks for supporting my analysis.
NASDAQ:NVDA
by RocketMike111
1
Altdominance Reversal SoonMany alts are making new ATLs or are at lows against BTC presently. Others dominance has been in a parallel uptrend since breaking and holding above ~4.5% and reaching levels above 10% market dominance for the first time back in 2017. We haven't quite made a 3rd touch to confirm the channel during more recent lows in June of 2023 and again in August this year. Still, the channel and indicators are pointing towards a move back up towards channel top. The question is: Do we move up without touching channel bottom first? Or, will we see a final move back around 8%, making a higher low and touching channel bottom prior to moving up?
CRYPTOCAP:OTHERS.DLong
by dudebruhwhoa
BEARISH PLOTTER READER! (2HR TF)Good Day Traders I wanted to use a higher timeframe, but the two-hour timeframe was more convenient because my bearish plotter is pointing out only the two-hour timeframe from all timeframes. This lets me know BITCOIN will make its way down for a minor trend. I've done some price range measuring. I have two custom gaps left out in the open from all three measurements. This can only work with my bearish plotter. Two red long rectangles are the left opened gaps which price can potentially hit those targets. The green gap is genuine. I drew a parallel trend line starting point from the top of the wick to the last bottom candle wick. I've measured the longest trendline and cloned it which is the most recent white parallel trendline. BITCOIN is behaving as if it wants to keep pushing up. There's no way of telling. It's pushed up in the past on a daily timeframe regardless of stochastic RSI was overbought but don't count on it. Pay attention to the most recent candlestick. The candlestick has almost filled the green gap which my custom MA has predicted an uptrend moving forward but it is just guidance. MY ADR MA, please follow it and see the way it plays out. Summary: Does this mean the price can fall to those 4 prices, it's a possibility, but so far it's touched the most recent green gap. Based on a 2-hour volume, it all makes sense. We have three levels of the highest volume. This is only a two-hour timeframe, it's just guidance by using a strategy. I had to create my own gaps. As I created them; WALA!, look at the first red gap let's see how it plays out, so don't panic. We're in a 3-YEAR BULL RUN.
COINBASE:BTCUSDShort
by The_ForexX_Mindset
11
Bitcoin Bullish count up.If you find this information inspiring/helpful, please consider a boost and follow! Any questions or comments, please leave a comment! Reacting and testing level identified. Bulls need to break this level (63380) and the pivot (65k) as a show of force. Here is my conservative take if an impulse completes. All hinges on 61779 and (1) pivot holding. Possible ZZ completing so looking for a reaction off most likely targets. One reaction is given. Looking for an impulse down. Trade Safe, Trade Clarity.
COINBASE:BTCUSDLong
by CryptoKnee
After upward movement, Gold can correct and then continue riseHello traders, I want share with you my opinion about Gold. Looking at the chart, we can see how the price reached the support level, which coincided with the buyer zone, broke this level, and rose a little more. After this, it turned around and in a short time declined below the 2430 level, breaking it again, but then XAU started to grow inside the upward channel, where it broke this level one more time. Then it made a retest and continued to move up to the resistance line of the channel, which coincided with the current support level and some time traded near. Later it made a correction movement to the support line of the channel, after which made an upward impulse, thereby breaking the 2530 level, which coincided with the support area. Now Gold continues to move up inside the upward channel and I think that it can little correct and then continue to move up to the resistance line of the upward channel. So, that's why I set my TP at 2660 points, which coincided with this line. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDLong
by LegionQ8
4
$JMIA * EWP TC FIB WEEKLY TF ANALYSISThe chart shared shows the historical weekly price action for Jumia Technologies AG ( NYSE:JMIA ) and includes several key Fibonacci retracement levels. Here are a few observations based on the chart: 1. IPO Price Reference: The chart marks Jumia’s IPO price on April 12, 2019, at $18.95, which has since acted as a resistance level. The price is currently significantly below this level, which is generally seen as bearish. 2. Fibonacci Retracement Levels: These retracement levels are visible at key points, such as around $17, $12.5, and $7.8. These are important as they indicate areas where the price may either stall or reverse, as seen by the price bouncing off these levels. 3. Recent Decline: After hitting the 0.5 Fibonacci retracement level near $12.50, the stock has pulled back sharply, breaking below the $7.8 level (0.382 retracement), and is currently trading around $4.67. This is a strong correction after a steep rally in mid-2024. 4. Support Levels: The chart highlights significant support around the $2.35 mark, which is near the 2023 lows. If the price continues to decline, this level could serve as a potential area for a bounce. 5. Trend Analysis: The overall trend since the 2021 peak has been downward, though there have been several rallies within the larger downtrend, one of which occurred in mid-2024. The lower highs and lows indicate that the bearish sentiment remains dominant. Overall, the chart suggests that the stock is in a corrective phase, and attention should be paid to whether it can hold above the next major support levels or continues to fall further. If the stock breaks above key Fibonacci levels, it could signal a reversal, but currently, the bias remains bearish.
NYSE:JMIALong
by Anakyn
GOLD → The shakeup after the rate cuts... What's next?FX:XAUUSD updates high to 2600 and then experiences a shakeout. Traders held the 2550 area and are currently trying to recover losses by testing the upper end of the range.... The Fed announced a 0.5% rate cut, bringing the interest rate to a range of 4.75%-5.0%. Why 0.5 and not 0.25? The Fed chief said that 0.25 poses threats to the economy that can no longer be allowed to... The gold price failed to capitalize on the sharp Fed rate cut, updating the ATH to 2600 the price headed down to the 2560 - 2550 liquidity zones. Traders are waiting for data on jobless claims and existing home sales to assess the state of the economy as a whole, the news may set the course for a correction or strengthen the general background, which will affect further growth Technically, the price approached the resistance rather quickly, which increases the chances of a bounce or a false breakout. The focus is on 2588- 2585. If the bears hold this area, the price may decline to the area of interest before rising. Resistance levels: 2585, 2588, 2600 Support levels: 2566, 2559, 2550 The overall bullish market structure is clearly visible on D1. Traders, after the rate cuts, need to take a breath and wait for additional confirming signs.... For today, the focus is on the trading range indicated on the chart... Rate, share your opinion and questions, let's discuss what's going on with ★ XAUUSD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
37