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Parallel Channel

GOLD - Price can exit from flat and continue to move upHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 A not long time ago price bounced from $2405 to $2475 level and then turned around and fell lower $2405 level, breaking it. Then price started to grow inside rising channel, where it rose to $2475 level, breaking $2405 level one more time. Gold some time traded near $2475 level and later broke it, exiting from channel and entering to flat. In flat price some time traded between the top part and bottom, and a not long time ago it bounced from $2475 level. Now, Gold trades near top part of flat and I think that price can reach this part and then make a small correction move. Next, price will exit from flat and continue to move up to $2570 If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDLong
by WalterMoon
4
BITCOIN - Price can bounce up from pennant to $61600 pointsHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 Recently price entered to rising channel, where it rose until to resistance line, breaking $64400 level. Next, price turned around and made downward impulse to $49000 points, breaking two levels and exiting from rising channel. After this, price started to trades inside pennant, where it at once bounced up from support line. Price broke $55300 level and later rose to resistance line of pennant, which coincided with resistance level. But a not long time ago BTC bounced and fell to support line, where at the moment continues to trades near. Now, I think price can bounce from this line to $61600, exiting from pennant pattern. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
EURUSD → A retest of the liquidity zone. Ready to go to 1.130FX:EURUSD is testing the liquidity zone within the correction. False breakdown of the channel boundary may form another bullish potential for continuation of growth to 1.1300 The currency pair forms a false breakdown of 1.1123, after which it enters the correction phase amid a strong market. The price is testing 0.236 fibo on D1, forming a false breakdown we get a reaction in the form of a pullback. On H4 the situation is even more interesting: false breakdown of the support conglomerate: 0.5 fibo + channel boundaries, which only strengthens the bullish set-up. Today the focus is on CPI in the Eurozone, as well as Core PCE in the US. High volatility is possible and the news may set a short-term tone in the market. Resistance levels: 1.1099, 1.1201 Support levels: channel boundary, 1.1061, 1.1047 The task of the bulls is to keep the defense above the resistance of the ascending channel, as well as above the level of 1.1099 - 1.11, in this case the price will consolidate above the lower boundary of the new bullish channel, which will open for us the potential for growth to 1.1300. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:EURUSD ;) Regards R. Linda!
Long
by RLinda
4
CME to $209MODs 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 Price at Fibonacci level In at $218.62. Pullback target 208.67 (1.618 fib ext)
NASDAQ:CMEShort
by chancethepug
Euro can rise a little more and then start to decline Hello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price some time ago started to grow inside the upward channel, where it soon grew to resistance level, which coincided with the seller zone. After this, the EUR turned around and made a correction movement to support line of the channel and then rebounded up. Price made a fake breakout of the resistance line of the channel and also the 1.1160 level, after which started to fall. In a short time, the EUR left the channel and continued to decline inside the wedge, where it at once dropped from the resistance line to the support line, which coincided with the support level and buyer zone. Soon, EUR broke the support level and fell to the support line of the wedge, but later it turned around and made a strong impulse up, thereby breaking the 1.1055 level one more time and exiting from the wedge pattern. To this day, the price continues to move up, so, I think EUR can rise a little more and then make a correction movement to the 1.1055 support level, where is located my TP. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
1
Bitcoin can start to rise from support line of wedgeHello traders, I want share with you my opinion about Bitcoin. Observing the chart, we can see that the price entered an upward channel, where it in a short time rose to the resistance level, which coincided with the seller zone, broke it, and continued to move up. But later it made a correction to the 64500 level, after which made an upward movement and then made a strong impulse down, thereby exiting from the channel and breaking the 64500 and 55700 levels. Also then, the price started to trades inside the wedge, where it at once turned around from the support line and rebounded higher than the 55700 level, which coincided with the buyer zone, breaking this level again. Next, the price made a retest and continued to rise to the resistance level, and when it reached it, BTC turned around and dropped to the support level. But a not long time ago it started to move up and I think that Bitcoin can rebound from the support line and start to grow to the resistance line of the wedge. For this case, I set my TP at 62100 points, which coincides with the resistance line. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
6
LTC → Price exit from accumulation ↑BINANCE:LTCUSDT is coming out of accumulation, breaking the structure of the “descending wedge” pattern - a rather strong bullish pattern. Price is still pinned by resistance, but the bulls have a chance... Globally, there is no trend in the market. The price is in a sideways movement between 114.0 - 56.0, which I consider a positive reason for a possible rise, as the price moves between the levels in a range. But we have prerequisites for possible growth (consolidation above MA-50, break of the wedge resistance), theoretically the price can head towards the resistance of the global range. Emphasis on the area of 0.5 fibo - 67.8. If the bulls successfully manage to keep the defense above the mentioned zones, in the mid-term the coin can show a good realization towards 76.9 - 88.6. Resistance levels: 67.8, 76.9 Support levels: descending line, MA-50, 0.5 Fibo Perhaps the primary retest of 67.8 will not bring success and the price may form a small correction, but the gradual return of the price to the retest will increase the chances of a breakout. A fixing above the level will be a good signal for growth! Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:LTCUSDT ;) Regards R. Linda!
Long
by RLinda
5
NVDA: Correction PhaseHello everyone,😉 I’ve put a scenario for the stock 'NVDA' together, which is currently drawing attention. This scenario is based on not only the "Elliott Wave Theory" but also various analytical tools, so please take it into high consideration. ✔️ Wave from $140.76 downward: "Extended Flat" This is an 'Extended Flat' composed of a 3-3-5 structure. The final C wave was completed as an 'Extended fifth wave impulse.' ✔️ Wave from $90.69 upward: "Zigzag" This is a 'Zigzag' with a 5-3-5 structure. The A wave and C wave have a 1.618 ratio, which adds a high level of credibility. ✔️ Conclusion: Projected Path Based on the wave count so far, I’ve drawn the projected path. I anticipate the appearance of a downward impulse wave and used the downward parallel channel and Fibonacci levels to estimate the potential decline range. First support zone: $100.03 Second support zone: $84.57 (very strong) Good 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 are yours.
NASDAQ:NVDALong
by Killer_Whales
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