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Parallel Channel

Bitcoin can start to grow to resistance line of upward channelHello traders, I want share with you my opinion about Bitcoin. By observing the chart, we can see that the price not long ago declined in a downward channel, where it dropped from the resistance line to the seller zone, which coincided with the resistance level. Then the price bounced up and tried to grow, but soon continued to fall. In a short time, BTC declined below the 57900 level, but later turned around and rose to the resistance line of the channel, after which it reversed and fell to the support line of the downward channel. Then the price rose to the 57900 level and even entered the seller zone, after which it dropped to the support level, exiting the downward channel, and soon broke the 54800 level, falling even lower. But after this, Bitcoin turned around and started to grow inside the upward channel, quickly rising to the 54800 level, which coincided with the buyer zone, and broke it again. Next, the price rose to the resistance level of the channel, after which it rolled down. So, in my opinion, BTC can decline a little more and then start to move up to the resistance line of the upward channel, thereby breaking the resistance level. In this case, I set my TP at 59000 points, which coincides with this line. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
7
Gold will make downward movement to support levelHello traders, I want share with you my opinion about Gold. Looking at the chart, we can see how the price trades in the range, where it long time trading near the current support level, which coincided with the support area and top part of the range. After this, the price turned around and made a small movement up, after which rose back to the support area and soon started to decline to the bottom part of the range. When Gold fell to this part, it broke the 2485 level and declined a little below, thereby exiting from the range. Then the price started to an upward channel, where it broke the 2485 level one more time and in a short time rose to the resistance line of the channel and then made a correction to the support line. Next price continued to move up inside the channel and soon reached the 2525 level, after which made small correction to the support line of the channel. After this, Gold made a strong upward impulse, thereby breaking the 2525 level, and later exited from the channel. At the moment, the price continues to move up, so, in my opinion, Gold can make a downward movement to the support level. For this case, I set two TP, first at the 2550 points, and second at the 2525 level. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDShort
by LegionQ8
1
NZDCAD Rejects Resistance: Downtrend Set to Continue?Hey Traders, OANDA:NZDCAD is showing signs of rejecting a key resistance level at 0.84100, with the price currently pulling back within a descending channel. This setup could indicate the continuation of the downtrend. Current Market Conditions: Descending Channel: The pair is moving within a well-defined descending channel, suggesting a continuation of the bearish trend. Resistance Rejection: NZDCAD has tested and rejected the resistance level at 0.84100, which aligns with the upper boundary of the channel. Bearish Setup: The rejection at this resistance and the downward momentum within the channel point to further downside potential. Fundamental Analysis/Outlook: The New Zealand dollar faces headwinds from weaker domestic economic data and global risk aversion, while the Canadian dollar remains supported by stable oil prices. This divergence could continue to pressure NZDCAD lower. Targets: TP1: 0.83717 TP2: 0.83318 TP3: 0.82900 Risk Management: Stop-Loss: Place a stop-loss above the resistance at 0.84100 to protect against a breakout above the channel. Conclusion: NZDCAD appears poised for further downside as it continues to respect the descending channel. Watch for a break below the support levels to confirm the continuation of the bearish trend. I would love to hear your thoughts in the comment section, and please hit boost and follow for more ideas. Thank you, and profitable trading to you all! Trading Insight: "In trading, it's not about predicting the future but about reacting to the present."
Short
by SignalSage_Ben
BITCOIN - Price can start to decline inside rising channelHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 A few moments ago price entered to rising channel, where it reached $61800 level, broke it, and continued to move up. Price reached resistance line, then it turned around and started to decline and soon exited from channel. Next, price continued to decline in wedge, where it declined lower than $61800 and $55700 levels, breaking its. Then BTC reached support line of wedge and then started to grow inside another rising channel. In this channel, price broke $55700 level and at the moment it trades near resistance line of channel. Possible, BTC can reach resistance line of channel and then start to decline to $55500 If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
GBPJPY → Traders increase short, preparing for a fallFX:GBPJPY is unable to continue the uptrend. The price is breaking the price channel support, and the parabolic curvature can be interpreted as a set of short positions. The Japanese Yen continues to strengthen. GBP is forming a small correction since the Open of the session, and the Japnese national currency is accelerating northward. The parabolic curvature that is forming on the chart can be explained as a set or increase of short positions by large players. Such a maneuver indicates a possible strong and prolonged decline in prices. But, the focus is on the sideways range 192 - 189. Despite the fact that the price has left the channel, it is still in the range and the mentioned support restrains the market from falling. Resistance levels: 190.97, 192, MA-50 Support levels: 189 If the bears manage to break 189 and consolidate below, it will be the reason for the continuation of the decline to the global low. On D1 the price is pushing away from the strong zone and also shows bearish preconditions Rate, share your opinion and questions, let's discuss what's going on with ★ FX:GBPJPY ;) Regards R. Linda!
Short
by RLinda
24
EURUSD → Entry into the bullish zone. ! NFP ahead !FX:EURUSD is returning to a bullish plane relative to the ascending channel. Focus is on the 1.1100 obfuscation and the upcoming NFP data to be released later on Friday. Price is testing the global resistance level at 1.1125. Before the news, a struggle for the key zone may form or a pullback may be formed. The favorable NFP, which the markets are waiting for before a possible interest rate cut on September 18, may affect the decline of the dollar, which in turn will have a bullish effect on the currency pair. Unexpected data may close the price in the range of 1.120 - 1.105. Resistance levels: 1.114, 1.120 Support levels: 1.1099, 1.1047 The focus is on the resistance of the ascending channel and 1.110. If the bulls can take the defense above this zone, we should expect growth to 1.130 in the future. But a failed attempt may affect the pullback to 0.5 fibo or 1.1045. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:EURUSD ;) Regards R. Linda!
Long
by RLinda
8
SPY to $560MODs 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 indicator just turned on TTM Squeeze momentum is down and at extreme In at $553
AMEX:SPYLong
by chancethepug
BNXUSDT → Liquidation on bullish trend before rising...BINANCE:BNXUSDT continues to correct and is heading towards global bullish trend support.Against the overall backdrop, the coin looks promising as one of the few continues to hold an uptrend.... Locally, BNX is testing the key liquidity area, a rebound to 1.300 may follow, but depending on the situation, there are various patterns indicating selling pressure on the market, such as: local lows, sma cross, closing bars at daily lows.... But, confidence is given by the overall trend. It is worth paying attention to the support 1.061 - 1.22, in this zone the struggle between the market participants is formed. The bulls may finally win if they are able to consolidate above 1.2000, but before that a long-squeeze or a scramble for support is possible. Resistance levels: 1.2000, 1.31, 1.425 Support levels: 1.14, 1.06, 0.95 Technically, the trend boundary and liquidity area has not been tested yet. There are no strong bullish signals and MM may form a trap (false growth, liquidation (sell-off) and false breakdown followed by growth). Emphasis on these key zones... Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:BNXUSDT ;) Regards R. Linda!
Long
by RLinda
7
Euro can rebound up from wedge to 1.1120 resistance levelHello traders, I want share with you my opinion about Euro. Observing the chart, we can see that the price rose inside the upward channel, where it reached the buyer zone, which coincided with the support level and some time traded in this area. Then, the price broke the 1.0830 level and soon reached the resistance line of the upward channel, after which turned around and in a short time declined to the support line of the channel and at once made impulse up, making a fake breakout of the 1.0830 support level. Next, the price continued to move up and later reached a resistance level, which coincided with the seller zone. After this, the price exited from the channel and broke even 1.1120 level, and then rose a little higher seller zone, but soon turned around and started to decline inside the wedge. In this pattern price broke the resistance level and declined to the support line, after which at once rebounded up to the 1.1120 level and then continued to decline. Now Euro trades near the support line of the wedge and in my opinion, it can rebound up from this line to the resistance level, thereby exiting from the wedge pattern. That's why my TP is located at the 1.1120 level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
GOLD - Price can fall from top part of flat to support areaHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 Some time ago price entered to rising channel, where it at once fell to support line, breaking $2385 level. Soon, price rose higher than $2385 level, breaking it again, and then rose to resistance line of channel, and made a fake breakout. Next, price declined to $2385 level and later bounced up to $2475 level and soon broke it, exiting then from channel too. After this, Gold started to trades inside flat, where it some time traded between top and bottom parts. Now, price trades near top part of flat and I think it can rise a little more and then bounce down to $2465 support area. If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDShort
by WalterMoon
BTC - Bullish Control Persists!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 As per our latest analysis, attached on the chart, BTC has rejected the $50,000 - $52,000 support zone and has been trading higher since then. As long as the bulls remain in control, a continuation towards the $61,000 - $62,000 resistance zone is expected. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
4
EURCAD still bearish expectations EURCAD in last week we are have strong bearish trend, technicalls are be strong bearish and one of impacts is come from USD weakened. On 4h TF we can see bearish expanding triangle, bounce from top zone of triangle is start on 26.8 price is fall 200PIPS. Now for new week, next periods, based technically here still strong bearish expecting. Based on price action can see 1.49500 strong zone is breaked on 30.8 Friday, which will use for one more good sign for bearish still to see. TP1: 1.47100 (200) All best, here for comments, stay tuned!
Short
by DepaTrading
SHAK to $100MODs 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 channels Stochastic Momentum Index (SMI) at oversold level Price at near 50% retracement Fibonacci level In at $94 Target $100 or top of channel
NYSE:SHAKLong
by chancethepug
Time to Sell Gold and Buy Platinum?Platinum is extremely underpriced compared to gold. Gold/Platinum ratio is at all time highs. Price action is currently in ascending channel and retesting the trend line that it held as support for 12 years before finally breaking it in 2020. A gravestone doji candle has printed on the weekly timeframe: The ratio can crash if gold goes up (platinum grows more than gold) as well as if it goes down (platinum drops less than gold). Which means that holding platinum right now is probably safer than holding gold and could potentially be more profitable. Like the idea? Press Boost! Have an opinion? Leave a comment!
TVC:GOLDShort
by function_mechanic
EURO - Price can break support level and fall to $1.0980 pointsHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Some time ago price entered to falling channel, where it at once rose to resistance line and then continued to fall. In a short time, price declined to $1.1135 level, broke it, and then fell to support line, which coincided with $1.1040 level. Next, price bounced and tried to grow, but soon fell to support area, after which continued to move up. EUR rose to resistance level, which coincided with resistance line of channel, and made downward impulse. Price fell lower than $1.1040 level, breaking it and some time traded in support area, but recently EUR broke it again. Now, I think price can make small movement up and then fall to $1.0980 support line of channel, breaking support level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
1