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Parallel Channel

BITCOIN: Elliott Wave & ChannelGreetings, everyone.😉 I would like to present a scenario for your consideration, grounded in "Elliott Wave Theory" . ✔️ Wave initiated from the 15K level: Classified as a "Double Zigzag" ✔️ Current wave in development: Y-c-3 ✔️ Projected upward range: 93K ~ 101K The rationale behind this analysis is as follows: Zigzag patterns typically move within a parallel channel. The first zigzag wave, which started from the 15K level, adhered precisely to this parallel channel. As a result, the likelihood of a complex correction occurring is considerably high. Based on these observations, I have constructed this particular scenario. It is an illustrative representation of potential market behavior, grounded in established technical principles. Wishing you all the best of luck. This is not a buy or sell recommendation. It is a personal perspective and should be used for reference only. All decisions and responsibilities lie with you.
Long
by Killer_Whales
AAP to $53 by 10/4MODs 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 Impulse MACD at extreme levels VBSM at max levels Price near 3.618 Fibonacci ext Looking for move back toward 1.618 Fib ext @ 53.46 by 10/4
NYSE:AAPLong
by chancethepug
S&P500 INDEX (US500): Important Bearish Signal US500 was consolidating for quite a long period of time around the level of a current all-time high and formed a range. After the release of the yesterday's US fundamentals, the Index dropped and formed a high momentum bearish candle. A daily candle closed below a support of the range, confirming its violation. We can expect a bearish continuation lower now. Next support - 5432 ❤️Please, support my work with like, thank you!❤️
FX:SPX500Short
by VasilyTrader
3
GOLD → Change of Mood (local). Correction phaseFX:XAUUSD is breaking the structure of the ascending channel amid the counter-trend correction of the dollar (fundamental reasons). Price closes in the range of 2526 - 2477, what could this mean? On D1, the market is bullish both locally and globally. But, fundamentally and geopolitically the situation is slightly changing, which favorably affects the dollar exchange rate, against which gold goes into a local phase of correction. There is low liquidity in the market today due to the closed US market. On H1, the focus is on the resistance 2505 - 2510, sma. False breakdown and price consolidation below these zones will confirm the absence of bullish potential, which may lead to price correction towards the lower boundary of the key range. Support levels: 2483 (D1), 2493, 2477 Resistance levels: 2505, 2510, sma The focus is on the global range 2526 - 2477, the price continues to trade inside and does not hint at a possible exit from this channel, accordingly, it is best to use the inturidian trading strategy. The main target is liquidity below the key support zones Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSD
by RLinda
16
GBPNZD → Realization (distribution) phase. Target 2.065FX:GBPNZD is in the phase of realization of the previously accumulated potential (descending triangle), at the moment a counter-trend correction is formed, directed to the liquidity area. The fall may continue. The currency pair entered the range of 2.117 - 2.095. The lower boundary and the liquidity area have not been tested yet, so the potential target is still valid. The counter-trend correction is due to the counter-trend growth of the dollar against the main basket of currency pairs. On H4, there is a conglomerate of strong resistances ahead, which may prevent the price from the first time, accordingly, a false breakdown and further decline should be considered. Resistance levels: 2.11, 2.113, 2.12. Support levels: 2.098, 2.085 The breakdown of the structure, character and the formed confirmation of the bear market indicates that the counter-trend correction can be stopped from the liquidity pool area, so the downward movement can be continued from the mentioned resistance Rate, share your opinion and questions, let's discuss what's going on with ★ FX:GBPNZD ;) Regards R. Linda!
Short
by RLinda
4
EURGBP: Your Trading Plan Explained 🇪🇺🇬🇧 EURGBP is currently stuck on a key daily horizontal support. The price is consolidating within a horizontal range on a 4H time frame. With a release of US PMI, we see a positive bullish reaction and a test of the resistance of the range. Its bullish breakout and a 4H candle close above will provide a strong bullish signal. A confirmed violation will open a potential for a further bullish continuation. Next goal will be - 0.845 Alternatively, a bearish breakout of the support of the range may trigger a bearish movement lower. ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
1
Euro can bounce of support level, leave wedge and rise to 1.1130Hello traders, I want share with you my opinion about Euro. By observing the chart, we can see that the price rebounded down from the buyer zone and dropped, but soon turned around and started to grow inside the upward channel. In the channel, the price reached the support level, which coincided with the buyer zone and broke it, and then it continued o to move up. When EUR reached the resistance line of the channel, which coincided with the resistance level and seller zone, the price turned around and started to decline. Euro exited from the channel and later entered to wedge, where it rebounded from the support line and rose higher than the 1.1160 level, breaking it. Price some time traded near and after reaching the resistance line started to decline. In a short time, the EUR broke the 1.1160 level one more time and fell to the 1.1050 support level. But recently it bounced up and now trades very close to the resistance line of the wedge. In my opinion, the Euro can rebound up from the support level and exit from the wedge, breaking the resistance line. Then it will continue to move up, therefore I set my TP at 1.1130 points. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
3