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Parallel Channel

BUD pulls back to $61MODs 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 system is very simple. I buy or sell at top & bottom of parallel channels. I confirm when price hits Fibonacci levels. Bonus if a TTM Squeeze in in play. I hold until target is reached or end of year, when I can book a loss. So... Here's why I'm picking this symbol to do the thing. Price at top channel Stochastic Momentum Index (SMI) at overbought level TTM Squeeze just turned off TTM Squeeze momentum is at very high level Price at Fibonacci level In at $63.50 Downside target is $61
NYSE:BUDShort
by chancethepug
Bump and Run Pattern with Key Resistance and Pullback Zones!OANDA:XAUUSD Current Price: 2578.715 4H Chart 1 - Consolidation Support & Resistance Zone: • After breaking out of the Consolidation Zone, Gold has reached the All-Time High (ATH) of 2586.013, marking the high of the Lead-In Phase in the Bump and Run pattern. • Consolidation High Line: This line represents the price projection based on the height of the consolidation support and resistance zone. The price may move toward the target of 2594.126. In the Daily chart I published earlier, Gold is also within an ascending channel. Based on this, the price may rise to the upper trendline, which is close to 2600. 2 - Ultimate Level: The price is currently slightly above the Ultimate Level at 2578.125. If the price holds above this level, it is likely to revisit the new resistance at the ATH. Should it break through, the next target would be based on the projection line, with the price likely heading toward 2594. Given the Overbought Zone, a pullback from this level is possible, but if the strong bullish momentum continues, Gold may break through the price target and Overbought Zone. However, once it reaches the Extreme Overbought Zone, we expect significant pullback pressure. 3 - Major Correction: From the Extreme Overbought Zone, we anticipate the price will return to the Ultimate Level at 2578.125. While it may hold here temporarily, it is more likely to break below this level. In that case, the next target will be the Prime Reversal Zone at 2539.630, where the price may consolidate within the Consolidation Zone. 4 - Bump and Run Pattern: Following the Consolidation Phase, the Bump and Run pattern suggests that the price will likely break through the Prime Reversal Zone and approach the Breakout Line. After breaking this line, a throwback to retest the Breakout Line is expected, marking the beginning of the Run Phase. From there, the price could move toward the Major Turning Point. At this level, the price may either consolidate or experience a partial rise. However, the ultimate target is the Low of the Lead-In Phase, with a projected price of 2471, according to the Bump and Run pattern. • Additionally, if the price breaks the key psychological level at 2500, this would signal a bearish shift in the market. Conclusion: Gold is currently in a bullish trend, trading near important levels in the Overbought Zone. While a further rise toward 2617 is possible, a market correction is likely. Watch for a pullback to the Prime Reversal Zone at 2578 or the Breakout Line at 2543. A deeper retracement could target the Major Turning Point at 2500 or the Low of Lead at 2471. If the market holds above 2543, the bullish trend could resume with new highs.
OANDA:XAUUSDShort
by SpicyPips
2
These Market Structures Are Crucial for EveryoneIn this article, we will simplify complex market structures by breaking them down into easy-to-understand patterns. Recognizing market structure can enhance your trading strategy, increase your pattern recognition skills in various market conditions. Let’s dive into some essential chart patterns that every trader should know. Double Bottom / Double Top A double bottom is a bullish reversal pattern that occurs when the price tests a support level twice without breaking lower, indicating strong buying interest. This pattern often suggests that the downtrend is losing momentum and a potential uptrend may follow. Conversely, a double top signals a bearish reversal, formed when the price tests a resistance level twice without breaking through. This pattern indicates selling pressure and suggests that the uptrend may be coming to an end. Bull Flag / Bear Flag A bull flag is a continuation pattern that appears after a strong upward movement. It typically involves a slight consolidation period before the trend resumes, providing a potential entry point for traders looking to capitalize on the ongoing bullish momentum. On the other hand, a bear flag forms during a downtrend, signaling a brief consolidation before the price continues its downward movement. Recognizing these flags can help traders identify potential breakout opportunities. Bull Pennant / Bear Pennant A bull pennant is a continuation pattern that forms after a sharp price increase, followed by a period of consolidation where the price moves within converging trendlines. This pattern often indicates that the upward trend is likely to continue after the breakout. Conversely, a bear pennant forms after a sharp decline, with the price consolidating within converging lines. This pattern suggests that the downtrend may resume after the breakout. Ascending Wedge / Descending Wedge An ascending wedge is a bearish reversal pattern that often forms during a weakening uptrend. It indicates that buying pressure is slowing down, and a reversal may be imminent. Traders should be cautious as this pattern suggests a potential downtrend ahead. In contrast, a descending wedge appears during a downtrend and indicates that selling pressure is weakening. This pattern may signal a bullish reversal, suggesting a possible upward breakout in the near future. Triple Top / Triple Bottom A triple top is a bearish reversal pattern that forms after the price tests a resistance level three times without breaking through, indicating strong selling pressure. This pattern can help traders anticipate a potential downtrend. Conversely, a triple bottom is a bullish reversal pattern where the price tests support three times before breaking higher. This pattern highlights strong buying interest and can signal a significant upward move. Cup and Handle / Inverted Cup and Handle The cup and handle pattern is a bullish continuation pattern resembling a rounded bottom, followed by a small consolidation phase (the handle) before a breakout. This pattern often indicates strong bullish sentiment and can provide a solid entry point. The inverted cup and handle is the bearish counterpart, signaling potential downward movement after a rounded top formation, suggesting that a reversal may occur. Head and Shoulders / Inverted Head and Shoulders The head and shoulders pattern is a classic bearish reversal signal characterized by a peak (head) flanked by two smaller peaks (shoulders). This formation indicates a potential downtrend ahead, helping traders to identify possible selling opportunities. The inverted head and shoulders pattern serves as a bullish reversal indicator, suggesting that an uptrend may follow after the price forms a trough (head) between two smaller troughs (shoulders). Expanding Wedge An expanding wedge is formed when price volatility increases, characterized by higher highs and lower lows. This pattern often indicates market uncertainty and can precede a breakout in either direction . Traders should monitor this pattern closely, as it can signal potential trading opportunities once a breakout occurs. Falling Channel / Rising Channel / Flat Channel A falling channel is defined by a consistent downtrend, with price movement contained within two parallel lines. This pattern often suggests continued bearish sentiment. Conversely, a rising channel indicates an uptrend, with price moving between two upward-sloping parallel lines, signaling bullish momentum. A flat channel represents sideways movement, indicating consolidation with no clear trend direction, often leading to a breakout once the price escapes the channel. P.S. It's essential to remember that market makers, whales, smart investors, and Wall Street are well aware of these structures. Sometimes, these patterns may not work as expected because these entities can manipulate the market to pull money from unsuspecting traders. Therefore, always exercise caution, and continuously practice and hone your trading skills. What are your thoughts on these patterns? Have you encountered any of them in your trading? I’d love to hear your experiences and insights in the comments below! If you found this breakdown helpful, please give it a like and follow for more technical insights. Stay tuned for more content, and feel free to suggest any specific patterns you’d like me to analyze next!
Education
by ArShevelev
5
HelenP. I Euro will enter to resistance zone and then start fallHi folks today I'm prepared for you Bitcoin analytics. If we look at the chart we can see how the price reached the support zone, which coincided with the support level, and tried to break it, but failed and started to decline. Price declined to the trend line, after which started to move up inside the upward channel, where it at once rebounded from the trend line and rose to the resistance line of the channel, breaking the 1.0920 level. Next, the EUR some time traded near the support level and then made impulse up to the resistance line and even rose higher and some time traded then. Also, the price entered to resistance zone, but at once turned around and quickly backed to the upward channel, where it then fell to the trend line, which is the support line of the channel too. Then price broke this line, thereby exiting from the channel and breaking the trend line, after which continued to move up below this line. Just now, the EUR trades near the resistance level, so, in my mind, I think that EURUSD will enter to resistance zone. Then price can turn around and start to decline, therefore I set my goal at 1.1050 points. If you like my analytics you may support me with your like/comment ❤️
Short
by FirstNameHelen
1
GOLD - Price can make small move up and bounce down to $2540Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 Some time ago price moved up inside the rising channel, where it at once fell below $2500 support level, breaking it. Later price grew to resistance line of channel, but then declined back to support line and soon repeated movement up. Gold broke $2500 level and later rose to next support level, and when it reached this level it broke it and exited from flat. Next, price started to trades inside flat, where it rose to top part and after some time traded near it made correction. Recently XAU bounced back and now tried to grow higher and I think it can rise a little more and then bounce down to $2540 If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDShort
by WalterMoon
6
Silver's Breakout Imminent: Fed Rate Cut Sparks MomentumThe Federal Reserve's interest rate cut paves the way for silver's potential breakout. Historically, decreasing interest rates have driven precious metal prices higher. Technically, silver's false breakdown below the channel's lower bound, followed by a potential breakout above the upper bound, suggests a strong move towards the $50 highs. Silver's diverse industrial applications – including electronics, solar panels, medical equipment, and renewable energy technologies – position it for increased demand amid the global shift towards sustainable infrastructure. This potent combination of monetary policy and industrial demand could propel silver's upward momentum.
OANDA:XAGUSDLong
by ttp112358
DODO Secondary trend. 02 09 2024Logarithm. Time frame 3 days (less is not needed). The price is in a horizontal channel, at the support zone, near the capitulation zone and liquid zones, which can give a massive triggering of long stop loss under the channel. A descending wedge (secondary trend) was formed by the decline from 03/13/2024. Its breakthrough is a trend break. The chart shows two average, not maximum targets for breaking the descending wedge (secondary trend) for orientation: 🟢 1) maintaining channel support and not entering the capitulation zone. 🔴 2) entering the capitulation zone. ______________________ The previous idea (wedge and work in the accumulation channel) for this coin and a similar trading situation that was published more than a year ago before the reversal (about +200%) DODO/USDT Secondary trend. Accumulation channel 08 2023 _____________________ The prices are currently acceptable from the standpoint of both the secondary trend and the main one. ⚠️ Due to the rather low liquidity, capitulation zones are extensive on such cryptocurrencies due to price slippage. Remember this and work wisely with the margin, and it is better to work with such cryptocurrencies only on the spot. 🟢 In the long term, this DEX will be heavily pumped up. Now they are pouring in a lot of money. The network has grown by 200% in users in a few months. This is all happening unnoticed against the background of the negative local fall of bitcoin. Linear price chart. Main trend. Time frame 1 week. DODO Main trend 09 2024
by SpartaBTC
7
$META PLATFORMS * EWP TC FIB MONTHLY TF ANALYSISGiven that the stock is near the upper trendline and within Wave V, there could be limited upside left in the current cycle. A few possibilities: 1. Continuation to Upper Resistance: META could continue pushing higher, potentially towards the $676 range (upper channel boundary), but likely face strong resistance. 2. Correction After Wave V: Once Wave V completes, a corrective phase (possibly Wave A) could begin. The correction might test lower Fibonacci levels around 380 USD or even lower, depending on market conditions. 3. Long-term bullish trend: Even if a correction occurs, as long as the price remains within the channel and above the support trendline, the long-term uptrend remains intact. In short, a potential small upside to complete Wave V is possible, followed by a corrective phase. Keep an eye on how the price behaves near key Fibonacci resistance levels.
NASDAQ:METAShort
by Anakyn
Bear Flag w/Confirmed Bearish Break - EGHere I have EUR/GBP on the Daily Chart! Price gave a Bearish Break to the Ascending Channel which confirms we are seeing a Bearish Flag. -The Volume behind the Candle that Broke the Ascending Channel signifies that it was a Strong and Valid Break Being a Continuation Pattern, I suspect we will see Price Retest the Break of the Ascending Channel and continue Downward! -Looking for a retest in the ( .8430 - .8435 ) Indicators: - Price trading Below 200 EMA - RSI Below 50 - BBTrend Printing Strong Red Bars - Volume showing Bears accumulating
Short
by Novi_Fibonacci
GBPUSD → A change of sentiment. What happened?FX:GBPUSD is moving into a flat phase, possibly into counter-trend correction on the background of locally changed sentiment, formed by the fundamental background of Thursday / Friday, the dollar is growing on this background. The currency pair is forming a bull market wave on D1-W1. On D1, a clear transition from bear market to bull market is formed, which is confirmed by the breakdown of the structure and smooth confirmation by the subsequent impulse. The fundamental background is (temporarily) negative, there is no news for the next two days, respectively, the sentiment from last week remains. Technically, the zone of interest for MM is the support from D1 at 1.3044. On H1 we have a strong liquidity zone ahead, which may trigger a primary pullback to the equilibrium zone before a subsequent decline to the key support and liquidity zone. Resistance levels: 1.314, 1.3163 Support levels: 1.3088, 1.3081, 1.3044 Buyers decided to refrain for the time being, shorts on the currency pair are increasing on the background of the dollar growth. Ahead is an important event - CPI, PPI, as well as the Fed rate meeting on September 18. By this time the market may be neutral Rate, share your opinion and questions, let's discuss what's going on with ★ FX:GBPUSD ;) Regards R. Linda!
Short
by RLinda
6
EURCAD → One step away from a rally. High chance to break 1.5100FX:EURCAD exited from the accumulation of the “descending triangle” format, which is a favorable signal for the continuation of the trend. A promising bullish structure is forming on W1. Euro, despite the ECB interest rate cuts, is growing and the growth is mostly related to the dollar, which is falling after Friday's news of PPI and Initial Jobless Claims. Now it is not the fact of the action itself that is being discussed, but how much it will be cut... Technically, the currency pair is consolidating in front of the global resistance at 1.51000. The strong level has been holding the market in the bearish zone for several years, but the fundamental background gives a chance to break and move into the realization and growth phase. Resistance levels: 1.5051, 1.51000 Support levels: 1750238, 1.4935 The primary reaction at 1.505 may end with a rebound, but most likely the bulls will manage to keep the defense above 1.5023 - 1.505, which may have a very favorable impact on the further growth of the trend. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:EURCAD ;) Regards R. Linda!
Long
by RLinda
8
TNX goes up from this levelMODs 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 system is very simple. I buy or sell at top & bottom of parallel channels. I confirm when price hits Fibonacci levels. Bonus if a TTM Squeeze in in play. I hold until target is reached or end of year, when I can book a loss. So... Here's why I'm picking this symbol to do the thing. Price at bottom channel Stochastic Momentum Index (SMI) at oversold level TTM Squeeze just turned off Impulse MACD is crossing over to the upside Price very near Fibonacci level In at $3.679 Target $3.9, top of channel will add to position at $3.6, $3.5
TVC:TNXLong
by chancethepug
Good Buy HindalcoHindalco is fundamentally a very good stock and has given good returns in the past. Currently, it has formed and given a breakout of a symmetric triangle pattern in a weekly timeframe with good volumen and trading in a daily/weekly channel. It has cleared its first resistance which was a zone of 450 and is now ready to travel up to the upper body of the channel. A fresh position can be created at CMP or in the dip in the price zone of 410-430. Keep a strict stop loss of 380. It has the potential to give a return of 20-30% in the coming weeks. Happy trading :)
NSE:HINDALCOLong
by ProPriceActionTrading
NextEra Energy (NEE) – Ascending Channel Near Key ResistanceNextEra Energy - NYSE:NEE - is trading in a strong ascending channel with rising lows, converging toward a key resistance around $91.50 . The stock is well above all moving averages, signaling bullish momentum. With an upcoming earnings report , NEE could break through to a new 2-year high, especially considering its potential benefit from the ongoing AI boom. However, the RSI is running hot , so it’s crucial to keep an eye on the bottom channel support line for signs of weakness. A break below could signal a retracement, but for now, the setup looks strong for continued upside. Do you think NEE can sustain this momentum, or is it at risk of overheating?
NYSE:NEELong
by elka_graph
Oracle ($ORCL) Gap-Fill & Earning Jump PlayTheory : Oracle has a history of significant price gaps after earnings reports. The stock is currently trading within an ascending channel and has an open gap from the last earnings. I expect a pullback to close this gap before the next earnings report triggers a potential upward gap. Ideal Entry Point : 142.51 - 144.97 USD (after the gap fills and the price hits channel support). Profit Taker : Targeting 192.27-195.02 USD (2 weeks range after earnings report), aligning with the top of the ascending channel and historical earnings reactions. This move represents a potential 35%+ gain. Disclaimer : This idea is for informational purposes only and is not financial advice. I am not a professional, and you should do your own research or consult with a licensed professional before making any investment decisions.
NYSE:ORCLLong
by elka_graph
3
$PLUG POWER INC * TC FIB EWP BIMONTHLY TF ANALYSISGolden Pocket (~$1.37): The price is currently hovering around this critical Fibonacci retracement level, marking it as a significant support zone. The price is trading within a long-term downward channel, which started after a major peak (early 2000s). The stock has followed this downward trend consistently, and despite short-lived bullish corrections, the overall trend remains bearish. Resistance Levels within this channel are more likely to appear around $2.95 and $5.00 (both horizontal and diagonal resistances). This zone is crucial as it coincides with the 0.618 and 0.65 Fibonacci retracement levels. If the stock fails to hold above these levels, the next significant downside could bring the price to around 85¢, where another historical support and the lower boundary of the channel come into play. The RSI indicator at the bottom of the chart shows an RSI level of 40, which suggests that the stock is currently not in oversold territory but is approaching it. A level below 30 would typically indicate oversold conditions and could hint at a potential reversal. The stock has had significant downward momentum over the past couple of years, but it's approaching critical long-term support levels. If the current support zone (between $1.12 and $1.37) holds, we might see a bounce toward the $2.95 resistance. However, if the price breaks down below $1.12, the bearish momentum could accelerate, sending it toward the $0.85 level. Short-term resistance can be seen at around $2.95 (50% Fibonacci level) and $5.00 (long-term diagonal resistance). For a more sustained recovery, the stock needs to break these levels convincingly, which could open up the possibility for a move toward $13.45 (0.5 retracement level from the macro perspective).
NASDAQ:PLUG
by Anakyn
5
BCH/USD * BITCOIN CASH - EWP FIB TC BIWEEKLY TF ANALYSISGiven the current wave structure, BCH appears to have completed a significant WXY multi-zigzag downward correction, and it might now be in a upward phase within the green channel. If BCH continues upward, it could challenge the next resistance zone around $664 or higher, especially if it maintains its trajectory within the green bullish channel. Alternatively, a break below the green channel would signal a potential return to lower levels, with $245 or even $175 acting as intermediate support points before any retest of $88.
KRAKEN:BCHUSDLong
by Anakyn
GOLD → Lower interest rates are ahead. A stalemate... ↑↓FX:XAUUSD is consolidating between 2588 - 2562. But, buyers are not yet out of the game in the hope of continued growth. Then everything depends on the Fed. Welcome to the casino :) At 18:30 the FOMC & FED will meet to decide whether to cut rates. 0.25% or 0.5%. A 0.5% Fed rate cut could send a mixed signal about the state of the US economy: the Fed's concern about the economy, and that a “soft landing” may not turn out to be so soft, but it would be a strong bullrun signal for gold. A weaker policy, could provoke an unpredictable reaction, which would temporarily disappoint investors. In such a case, a correction to 2550-2525-2500 may form (price may bounce from any zone shown on the chart) before a further global rally, as the general tone of the market is set by the global Central Bank's interest rate cuts.... Resistance levels: 2575, 2588, 2600, ... Support levels: 2561, 2550, 2530 It is difficult to say about expectations, as the uncertainty is high due to the fact that the overall situation is stalemate, either this way or that way. I recommend to refrain from trading on the news and wait for the volatility to decrease . The trading range for today is very wide.... Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
14
AUDUSD → A reversal set-up. Rebound before the fallFX:AUDUSD is breaking the bullish market structure amid the counter-trend dollar correction related to fundamentals. The currency pair is bumping into a strong liquidity area... It will be difficult to pass the zone 0.6695 from the first time, because below this area there is a zone of high density of limit orders. Accordingly, as a reaction we see a false break of the support at 0.6699 (H4) and a rebound. Earlier there was a change of market character to bearish, rebound from the support may lead to recovery to 0.5-0.7 Fibo, from which further decline may resume to the key support from which 2 scenarios may develop. In a weak market the movement may continue, but if the general background starts to change (the dollar is in a bear market) the currency pair may start a recovery phase. Resistance levels: 0.674, 0.676 Support levels: 0.6699, 0.6686 Technically, we are waiting for a pullback to the specified zone (0.5 - 0.7 Fibo), further it is worth watching the price reaction to the specified zones. A price retest of the support will increase the chances of a breakout and further decline, but strong bulls may continue to resist the bears, which may lead to growth Rate, share your opinion and questions, let's discuss what's going on with ★ FX:AUDUSD ;) Regards R. Linda!
Short
by RLinda
7
OPUSDT → Double top. How far can we fall?BINANCE:OPUSDT cannot get out of the bears' clutches. The market continues to form its movement under the pressure of the downtrend. There are important events ahead that could shake up the trading community.... Bitcoin, as well as the rest of the cryptocurrency market continues to decline. Cryptocurrencies are not reacting to Trump's speech in any way, but traders are waiting for the U.S. rate cut in the hope that the encouraging data (0.5% decrease) will increase interest. But the 0.25% decrease will add weight to the bearish paw, which can only strengthen the already current decline. Technically OPUSDT is forming a global bearish trend, the price is not allowed to update the local highs. The last retest ended with the formation of a double top, which led to a sharp decline. Resistance levels: 1.469, 1.510, 1.544 Support levels: 1.431, 1.393, 1.3 The 1.431 area is holding the market back from falling, but a strong pre-breakdown accumulation is forming near this area with a target to continue falling. Watch out for the 1.430 trigger, a break of this zone will give downward momentum Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:OPUSDT ;) Regards R. Linda!
Short
by RLinda
6