US500 ~ Daily Swing Chart (Sept-Oct)CAPITALCOM:US500 chart mapping/analysis for med-long term swing trades.
Parallelchannels
CSPRUSD At An Interesting Level Of Support Inside A Channel CSPRUSD / Casper token is at an interesting level of support inside a parallel channel. Seems to also be sitting at a level of horizontal support. Minimum target is around 0.07 - 0.08 which is at upper level of channel. It also coincides with a previous level of support and resistance as identified by the blue band.
Will be interesting if this channel holds as support.
Gold: breakout or not to breakout - that is the questionWill Gold break or drop?
1-The XAU/USD is testing the resistance of the bearish channel.
2-There is also resistance at 1950: double rejection - Wednesday and Thursday.
3-The medium-term momentum is bearish.
4- There is no RSI bullish divergence.
Conclusion: Gold would likely drop to 1900!
Bitcoin Looks like it wants to pump higher!Bitcoin has sold off and is now trading at the bottom of an ascending parallel channel. This is also the area right above a key S/R zone. The most likely probability is that the market will move higher from here before selling off and breaking below the channel. I would feel more safe entering a long at these levels instead of a short. If you do long, manage your position size and use a stop-loss.
Let me know in the comments below where you think #Bitcoin will go.
Every day the charts provide new information. You have to adjust or get REKT.
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Don't trade with what you're not willing to lose. Calculate Your Risk/Reward!
This is not financial advice. This is for educational purposes only.
USD/CHF: a textbook pattern has been formed. What is next?As it can be inferred from the 2D-timeframe development on USD/CHF, the price has been trading within the borders of the descending parallel channel that is illustrated on the graph. Hence, our sentiment is bearish.
After witnessing some price development (printing wick candles and showing signs of a bearish reversal), the market tricked sellers into making executions, after which a massive bullish candle rushed towards the upside and wiped out the early bears.
According to our technical analysis, we are expecting for bearish moves to resume from here on and reach the target zone that has been mapped on the graphic in the middle to long run.
FNGU- Technology Titans CounterTrend LONG on ReversalFNGU on the 4H chart is in a trend down within a parallel channel. The previous trend down
from the top of the channel to the bottom was 29% while the counter counter-trend up from
the bottom of channel to the top was 18% over 7 days. Presenly the trend down from the
upper channel is confirmed by the two RS lines near to the 50 level and the Awesome Oscillator
with a down going signal. Trade plan - I will trade FNGU short ( or FNGD long ) until it is at
the bottom of the channel. Upon reaching it and mindful of a fake breakdown. I will watch for
reversal signs on a lower TF and upon finding them in the MACD or Bollinger Bands or VWAP
bands I will close the trade and so long instead.
EUR/USD: have we reached another turning point?From the Daily-timeframe perspective, it might be observed that the price is bouncing off the ascending trend-line that has been portrayed on the graph; and looking at the historical price action, it can be noticed that upon reaching this specific up-trending zone, the price has been able to bounce off and impulse towards the upside. Hence, we remain positive that the local zone that we have marked may serve as the basis of the potentially upcoming bullish run.
As for the target, the up-trending diagonal | the upper barrier of the rising channel may be considered as the long-term TP zone. The liquidation zone (SL), on the other hand, might be set below the local key zone of support that we are eyeing as our entry zone.
Wishing everyone a productive trading week!
ENPH - a long energy trade LONGENPH is in the energy sector which has been strong in the past couple of weeks.
On the 2H chart over the past two years visible, ENPH is just above its support.
It is about 50% below its pivot highs of 9-12 months ago and in a parallel
descending channel. I believe that ENPH is now set up for a 50% retracement of
the Fibonacci type. Fundamentally, two or more good earnings reports is
certainly reassuring as is the present sector trend. I have drawn in horizontal
levels/lines for targets. I will take a stock trade long and investigate a 6 month
duration options contract as well. Please comment if you are interested in
those details.
USDCHN rising on Dollar Strength Channel Breakout LONGThe idea is on this one-hour chart which has the DXY overlaid showing the dollar
as the strong currency also watching YINN rising and YANG falling
S&P500 Road Map🗺️!!! situation+next targets.As you can see price reached top of the channel it means price need correction to PRZ zone and after that price can reached Target. Also can see elliott Waves now price in the 4th correction phase.
⭐ Note if the PRZ is broken downwards with the strength of Bearish candles from the bottom , this analysis of ours will be failed.
✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟!
XAGUSD Parallel Channel LONG biasXAGUSD on the 15 minute chart had price action with a flat top then a VWAP line pullback
into some continuation then rising into a head and shoulders and a fall into a support /
demand zone with some tests of VWAP while underway. At present price sits on
the support zone in this horizontal parallel channel with about !% of range. The ZL MACD
well reflects the price action and has upgoing parallel lines at its terminus. The dual
time frame RS indicator shows both low and higher time frames in the mid-range near
to the 50 level. i see this as a good long trade setup for scalping or day trading especially
with a leveraged forex trade potentially yielding high returns relative to the risk on
the trade. It goes with out saying the trade needs to be managed for breakdown, breakout
for an add and fakeouts of those.
EURGBPEurgbp
Chance to hit 0.8600 zone very soon
Pair getting strength day by day and going Towards the resistance. Price was stuck in narrow range now breakout of narrow range giving more bullish indication
USDJPYUSDJPY is trading in bullish parallel channel and completed the AB=CD pattern within the channel. After pattern completion the pair is lacking bullish momentum starting to change its direction from bullish bearish and seems like bears are taking control. If the bears continue to took control , their next target will be 140.80 region followed by 140.
AMRX Biotech earnings Today LONGAMRX is a penny biotechnology stock with earnings out on the Friday the 4th.
As you can see on the 15 minute chart, it took off out of consolidation on
Wednesday afternoon in a burst of price volume and volatility into an
ascending parallel channel.
I will buy the stock in the pre-market attempting to exploit the momentum
going into earnings. If there is a miss, I will quickly liquidate and instead
buy put options expiring on 8/18 striking $ 5 and get as many as 100 of
them. This will be a highly risky trade albeit with a comparable reward.
I will position to 0.05% of my account cash balance and no more.
EURUSD 1W , 1DPrice in bullish channel in 1w time
after break and pullback to chartpattern
now price is near uptrend and channel floor
price ready to up
SL: 1.09
TP: 1.2
BUY: 1.970
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BNBUSDT Downtrend in a ZigZagPrice action has been channeling in a zigzag pattern. Micro bearish impulse downward leg in development. Just pointing out levels to watch.
EurUsd -> One Of Two Scenarios!Hello Traders and Investors ,
my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of EurUsd💪
EurUsd just perfectly retested and already rejected the 0.618 fibonacci level in confluence with a retest of previous support which was after the break turned strong resistance.
EurUsd is also now approaching weekly support and also the bottom of the solid rising channel so after some bullish rejection it will be quite likely that EurUsd provides more bullish upside.
With today's crazy volatile candle EurUsd is also now retesting previous daily market structure - however I am definitely waiting for some bullish rejection at this zone because there is no reason to try to catch a falling knife.
Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint 📈
Thank you for watching and I will see you tomorrow!
My previous analysis of this asset:
🔥 Bitcoin Indecision Ahead Of FOMC MeetingComing Wednesday there's another FOMC meeting by the FED. Here they will announce what the new interest rates are going to be. While the FED paused last meeting, the expectation is that they will announce another rate hike.
My expectation is that BTC will continue to consolidate around the current area, while traders are patiently waiting for the FED's decision. Furthermore, BTC's volatility is extremely low, which indicates that it's preparing for a big move, either up or down. See below for the volatility analysis, currently 3 days in a row extreme low volatility:
As seen on the chart, BTC is trading at a very strong area of resistance. The top resistance is an exact copy of the bottom support, creating a parallel channel. With the stock market severely overbought, the market risk is likely to the downside.
As long as BTC stays above the yellow support line, the intermediate trend is bullish. A break below this trend line could signal that ~31.8k was the 2023 top.
Are you bullish or bearish ahead of the FOMC? Share your thoughts 🙏
S&P 500 Daily Technical Analysis (UPDATED)ES (SP 500) Daily - No RECOMMENDATION or ADVICE Status / EDUCATIONAL only - Support, Resistance, Trend Lines , Parallel Channel, Cluster, Confluence, Pitchfork, Gap, Fibonacci Retracement / Extension - Hope it Helps, Good Luck
DISCLAIMER - This communication is not trading or investment advice, recommendation or solicitation to buy, sell or hold any investment product is provided for informational, educational and research purposes only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The author or persons involved in the conception, production and distribution of this material cannot be held responsible for transactions or any financial loss or damages resulting directly or indirectly from the use or application of any concepts or information contained in or derived from this material. Past performance is not indicative of future results. Any person who chooses to use this information as a basis for their trading assumes all the liability and risk for themselves.
ETH Ready for Another Leg UpThere is 3 day hidden bullish divergence on Ethereum. Currently holding above the POC of a value range scaled from the 880 low to the all time high. This level also just happens to be a shallow common 23% retrace area that ETH has held nicely above since June. If this divergence is to playout, I like 2403 as the first main target which would be +30% move to the upside.
S&P 500 Weekly Technical Analysis (UPDATED)ES (SP 500) Weekly - No RECOMMENDATION or ADVICE Status / EDUCATIONAL only - Support, Resistance, Trend Lines , Parallel Channel, Cluster, Confluence, Fibonacci Retracement, Pitchfork - Hope it Helps, Good Luck
DISCLAIMER - This communication is not trading or investment advice, recommendation or solicitation to buy, sell or hold any investment product is provided for informational, educational and research purposes only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The author or persons involved in the conception, production and distribution of this material cannot be held responsible for transactions or any financial loss or damages resulting directly or indirectly from the use or application of any concepts or information contained in or derived from this material. Past performance is not indicative of future results. Any person who chooses to use this information as a basis for their trading assumes all the liability and risk for themselves.
Is MSFT's bullish momentum depleted?
The uptrend channel
A 100% parallel extension of the uptrend channel indicates the strength of this bullish trend.
Symmetrical projection: An uptrend N pattern
By projecting a 100% symmetry projection of the initial swing from point A to B, and extending it from point C, the target price would be point D at $303.3.
Given that the anticipated symmetric pullback to point E did not occur, my expectation is for a further 100% extension from point D. As a result, the target price has been revised upwards to point F at $360.8.
Other key levels
Resistance
The historical highest high at $349.6 is a very strong resistance level, coinciding with the upper band of the channel's 100% extension. The more resistances encountered, the harder it is to break through.
Support
The 1.5 extension level at $ 332 is a support level that has been tested. Clear price reactions to key Fibonacci levels can enhance the overall significance and value of the analysis.
The prior low level, which is at $322.5, can always act as a significant support level. Moreover, it’s a resistance turned support level, making it more important.
Possible scenarios
If the uptrend continues…
When facing the key resistance at $349.6, the market should exhibit a clear movement, like a gap-up opening or a significant bullish candle, to demonstrate its determination.
If the bullish momentum is depleted…
The market is likely to pull back the price to below the prior low level, which is at $322.5.
Compared to the 1.5 extension support level, the level of the prior low holds greater importance. If the 1.5 extension support level is breached, it serves as a mere warning. However, If the level of the prior low is breached, it disrupts the rhythm of a healthy bullish trend and makes price movements difficult to anticipate.
Conclusion
If the key support at $322.5 is breached, it’s better to step out of the market. Allow the market to stabilize on its own, and wait for a clearer signal before reentering.
If not, the uptrend will continue, and the target price remains at $360.8.
Hindsight bias part
While our target price is $360.8, the prior historical high level at $349.6 represents the optimal target price. Considering the formidable resistance at the prior historical high, I prefer to sacrifice a small portion of potential returns in favor of a higher probability of success.
**Not Financial Advice**
The information contained in this article is not intended as, and should not be understood as financial advice. You should take independent financial advice from a professional who is aware of the facts and circumstances of your individual situation.
USD/CHF: simple price action. Where are we headed next?As the price is sitting at the lower barrier region of the descending parallel channel that is portrayed on the graph, we are expecting for some correctional moves to kick in and drive the price towards the highlighted region of previous support now acting as resistance that nicely aligns with the 61.8% Fibonacci retracement level.
