Get started

Ascending Channel

EURJPY → Consolidation. What's next? Growth or decline?FX:EURJPY tests resistance and forms a false breakout, but now the price is stuck inside the range and forms consolidation on which the further scenario depends. On D1 the price stops at one of the intermediate resistance levels - 161.4. Euro as well as Japanese Yen are getting weaker against the general background, the strong fall of Japanese Yen will squeeze the currency pair and apparently the growth of the pair after the correction may continue. On H4 the price tests resistance and forms a false breakdown, after which it forms a range between resistance 161.4 and the downtrend line (blue dotted line). It can be assumed that consolidation will continue until the price goes beyond it. Thus: 1) against the backdrop of the rising trend, we have a chance to see a retest of resistance from the previously broken trendline, which could lead to a breakout of 161.4 and further strengthening of the pair. 2) As the price has returned to the channel boundaries, the correction may extend all the way to the uptrend support, but after the breakout of the zone: 160.0 Support levels: 160.0 Resistance levels: 161.4 The further scenario at the moment depends more on who wins the market as part of the fight within the consolidation. The bulls should consolidate above 161.4 to continue rising and the bears below 160.0 to continue the correction. Regards R. Linda!
Short
by RLinda
3
Bitcoin will continue to crash to 33 500, then pump to 100 000Bitcoin is crashing, that's clear, but will this downtrend continue? It is very likely that it will. Why? We can see that the price already touched the top of the parallel ascending channel on the weekly chart and got rejected from it. What's more, we complete the impulse wave, and we are already in the corrective ABC pattern, which should be a zig-zag style. There is still an unfilled fair value gap between 30k and 34k.  How deep can Bitcoin dive? It is always good to take the Fibonacci retracement tool and look for the 0.382 and 0.618 levels. We need to take into consideration a support trend line of the ascending channel, which is a dynamic support that changes over time, but it's near the 0.618 FIB. Also near the 0.618 FIB, we have the end of the specified FVGAP. January is usually not the best month for the price of Bitcoin. Usually the big pumps start in April; we have more than 2 months of possible downtrend. Currently, I am very bearish on Bitcoin and expect lower prices.
Short
by Xanrox
27
AUDUSD → Change of mood and retest of a strong level FX:AUDUSD broke the uptrend earlier and is testing the strong historical level of 0.65800. Against the backdrop of a rising TVC:DXY , the Aussie could lose ground and head towards downside targets. The dollar is strengthening and may show growth for the second week in a row thanks to the signs of stability of the American economy and cautious comments of central bankers' representatives on rate cuts, the index is seeing a clear recovery phase, which negatively affects the currency pair. Technically, AUDUSD breaks the level of 0.65800 and tests it as resistance. There are 2 scenarios that can develop in relation to the level: the first one includes the continuation of the correction if the price breaks 0.65800 and consolidates above it. The target will be the resistance at 0.6666. And the second scenario is the bears' task to hold this level against the background of changing market sentiment. From 0.65800 a decline to 0.6523 is possible with the subsequent breakout and fall to 0.6352. Moving averages show a downward signal. Resistance levels: 0.65800 Support levels: 0.6523 The trend is changing, bears are more serious, which may affect the pair's pricing. With greater probability I am waiting for the realization of the second scenario. Regards R. Linda!
Short
by RLinda
13
Bitcoin Bullish Outlook for January 2024INDEX:BTCUSD is currently inside its bullish channel. My target is $51k still the same as my previous outlook. RSI is showing exhaustion on the daily chart but i still expect it to hit the upper channel trendline first before a pullback. It is a one last push before a relief pullback. Hopefully when the price of Bitcoin drops, Ethereum and the rest of altcoin will still rise. That signals altseason because the money flows from bitcoin to altcoin.
INDEX:BTCUSDLong
by Valentv
Amazon - Massive Resistance AheadHello Traders, welcome to today's analysis of Amazon. -------- Explanation of my video analysis: With the quite obvious and expected channel breakout in 2016, we saw a rally of more than 500% towards the upside on Amazon. This pump was followed by a retracement back to a previous support level before we saw another bullish reversal. If Amazon breaks back above the structure mentioned in the analysis, market behaviour is bullish and I will be looking for longs. -------- I will only take a trade if all the rules of my strategy are satisfied. Let me know in the comment section below if you have any questions. Keep your long term vision.
NASDAQ:AMZN
by basictradingtv
3
EURUSD → Fundamentally, the dollar is strongerFX:EURUSD is declining and forming an attempt to break trend support. Fundamentally, the TVC:DXY is strengthening on the background of the Fed's position, which negatively affects the base currency - EUR. On the high timeframe we see that the dollar continues to strengthen after a long consolidation. The Fed is not going to give up and is trying to insure itself before a possible interest rate cut, which may come in spring-summer 2024. This scenario may strengthen the dollar to local highs, which will have a negative impact on the currency pair. EURUSD broke 1.088 testing the trend support, technically, the breakout has already occurred, the price may take a small correction and retest the support, after which it may head towards the lower boundary of the range - 1.0756. Consolidation of the price below the trend support will confirm the bearish position, which will be a favorable scenario for sellers. Support levels: 1.078, 1.0756 Resistance levels: 1.0888, 1.10 Fundamentally, the dollar is stronger than the euro, which will obviously have a negative impact on the currency pair. We expect confirmation of the scenario (consolidation below the support) for further opening of sales. Regards R. Linda!
Short
by RLinda
1
NZDUSD → Consolidation after support breakoutOANDA:NZDUSD continues to consolidate in a narrow range as uncertain sentiment is also seen in the dollar index amid a challenging fundamental environment. The TVC:DXY has been consolidating below resistance for two and a half weeks, which in standard practice is a strong downside signal as resistance cannot be broken. NZDUSD pair broke uptrend support earlier and consolidation is forming in the selling zone between 0.6250 and 0.6208. But, it is important for us to wait for the confirmation of the sell signal, which will be the breakout of 0.6208 and the subsequent consolidation of the price below the level, which will open for us the target in the form of support at 0.6086. Moving averages also indicate consolidation, which may be followed by a distribution phase. Resistance levels: 0.6250, 0.6366 Support levels: 0.6208, 0.6180, 0.6086 There is a high probability that the currency pair on the background of the subsequent weakening of the dollar index can still break the support and head towards the target indicated by us. Regards R. Linda!
Short
by RLinda
7
XRP - Best time to buy is right now, here is whyXRP is currently sitting on the main support of the ascending parallel channel. This is definitely a great opportunity to buy cheap XRP. We have a leading diagonal wedge as wave (1) followed by a sharp correction wave (2). Wave (3) should be in progress. You can be sure that XRP is a big deal for huge institutions such as banks. They are already investing a lot of money into implementation of this cryptocurrency. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades! Unlike Bitcoin or Ethereum, the XRPL uses a unique Federated Consensus mechanism as its method of validating transactions. Transactions are confirmed on the XRPL through a consensus protocol, in which designated independent servers called validators come to an agreement on the order and outcome of XRP transactions. All servers in the network process each transaction according to the same rules, and any transaction that follows the protocol is confirmed right away. All transactions are public and transparent, and anyone can operate a validator. There are currently over 150 validators on the ledger, operated by universities, exchanges, businesses, and individuals around the world. Through the Federated Consensus mechanism, all verified transactions can be processed without a single point of failure as no single participant makes a decision independently. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades!
Long
by Xanrox
2
ETH → Strong both fundamentally and technically BINANCE:ETHUSD reacted more violently than BTC to the long-awaited btc-etf news. But why? The price tested the high at 2717 and formed a false breakout, leading to a correction amid bitcoin's decline. ETH technically looks stronger than BINANCE:BTCUSD . We can judge from the chart and strong bullish momentum and not a big pullback. The reason for this is the expectation of bids for the spot ETH-ETF. The chances that these applications will be approved by the SEC have increased after their extreme positive decision towards the flagship cryptocurrency market. Technically, ETH is forming a false breakout of 2650 resistance and forming a correction. Since the price is trading within the ascending price channel, the target in our case could be the support area: 0.5 fibo (2447 level), or even 0.618 fibo (2383 area). The moving averages on W1 indicate a strong accumulation that may move into the distribution phase. Resistance levels: 2650, 2540, 2586 Support levels: 0.382 fibo, 0.5 fibo, 0.618 fibo Fundamentally and technically, ETH looks good to continue to grow in the medium term, which may start after the retest of the support area Regards R. Linda!
BITSTAMP:ETHUSDLong
by RLinda
6
🇺🇸 USDJPY 🇯🇵 - Bullish sentiment forms an upward trendUSDJPY may continue its growth on the back of the rise in the dollar index due to fundamental reasons. Technically, the currency pair is forming a bullish trend, it can be understood by the rising lows and highs. The target in our case could be 148.5 Reasons for further upside: 1) Trend breakdown 2) Yen is weaker than the dollar. The pair is rising following the DXY 3) Bullish trend is forming 4) Rising lows 5) Structure breakout
Long
by Gold-Tech
1
Solana, another 100% pump in the next weeksSolana is very bullish. The uptrend is strong, and continuation to the upside is very likely because the ascending parallel channel holds the current price. I do not want to see a breakdown below this channel because that would be a very bearish sign on the other side. From the Elliott Wave perspective, we need to complete the impulse wave 12345. I am expecting a final wave (5) with a 100% profit in the next few days or weeks. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades! Solana is a highly functional open source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland. To learn more about this project, check out our deep dive of Solana. The Solana protocol is designed to facilitate decentralized app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain. Because of the innovative hybrid consensus model, Solana enjoys interest from small-time traders and institutional traders alike. A significant focus for the Solana Foundation is to make decentralized finance accessible on a larger scale.
Long
by Xanrox
5
🥇 GOLD → Capital inflows will strengthen the price Gold consolidates buyers due to global crisis linked to another armed conflict. The metal is increasingly attracting capital as a hedging asset in times of crisis. I think the outlook for a few weeks is predetermined. We should expect a retest of 2150 in the near future. Reasons for further increases: 1) Armed conflict on the world's main trade artery near Yemen will only drive gold prices higher 2) Upward trend of XAU 3) Consolidation is forming near resistance 2058 - this increases the chances of a breakout 4) A change of mood is evident in the market, the bulls are gaining strength
OANDA:XAUUSDLong
by Gold-Tech
1
BTCUSD → A "sell the news" scenario? What happened?BINANCE:BTCUSD tested a new high of 49K amid increased volatility due to positive news for the asset. But, as we can see, what many did not expect was a strong sell-off. I have been talking about sell-offs from the 48250 level for a while now, since mid-November 2023, the moment BTC entered a new range. The 48250 area is a strong resistance with a huge pool of liquidity and it is quite logical to see a false breakdown followed by sell-offs. In addition, strong bullish news related to SEC approval of applications for spot BTC-ETF forms the opposite direction to the expected price movement: At the moment, the "Sell The News" scenario is developing - this maneuver includes a possible price correction of 10-20-30%. It is logical that the price cannot grow all the time and the asset pricing includes corrections to maintain adequate liquidity in the market. At the moment the price is testing the nearest strong support 41639 and forms the third retest ( false breakdown ) of the support. In the TA format, the price can form a rebound, which we see. At the moment we should pay attention to the level of 42850 from which growth or a small rebound may follow and then fall to 40659 - this is a strong level, which is a risk zone and liquidity pool. A false breakdown may be formed before further growth. Support levels: 42850, 41639, 40659 Resistance levels: 44490, 45500, 47280, 48250 Regarding technical nuances ( resistance, false breakout ) a correction is forming. The price may test one of the mentioned support and liquidity zones to free the market from unwanted participants. Fundamentally, BTC is strong enough to continue its growth both in the medium and long term. Regards R. Linda!
BITSTAMP:BTCUSDLong
by RLinda
31
EUR/USD ⬆️ Long Trade Setup ⬆️Hello Everyone 🙋🏽‍♂️ Ascending channel 💲 Entry Point : 1.09633 ✔️ Tp 1.11364 🔴 SL 1.08784 We are not responsible of any losses for anyone, our trades are profitable more for long terms and we take losses as everyone, manage your lot size as well and your SL and TP and my opinion is 0.01 lot for each 500 $. Don't forget to hit the like bottom and write a comment to support us. Follow us for more 🙋🏻‍♂️ Best Regard / EMA Trading . Disclaimer: ---------------- It's not a financial advise, As everyone we take losses sometime but for long term trading we are profitable traders, so manage your account well with SL and TP and your lot size to keep your account safe and stay in the market
Long
by EMA_Trading
ICP will continue in the parabolic trend, time to buy?ICP looks really strong; the uptrend just started, and I am expecting another 300% pump in the immediate short term. We can see that the price is moving in this ascending bullish parallel channel, and we have a lot of space for growth. From the Elliott Wave perspective, wave 3 is in progress, and wave 3 is usually the strongest wave. You do not want to miss this uptrend. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades! The ICP token has three main utilities. Firstly, ICP provides a source of “cycles” that are burned to power computation (thus when ICP is converted to cycles, it disappears, creating deflationary pressure). Secondly, ICP can be staked in the permissionless Network Nervous System DAO that governs the Internet Computer blockchain, creating voting neurons that generate voting rewards. Thirdly, ICP plays the role of a store of value, for example allowing users to invest in decentralization sales run by web3 services.
Long
by Xanrox
3
GBPUSD → A technically weak dollar will strengthen the pair FX:GBPUSD continues to form consolidation in the ascending triangle format. Bulls are gaining strength and trying to break through the resistance zone 1.2780 - 1.2800. The currency pair is in a global uptrend and according to a number of prerequisites this direction may continue. If we pay attention to the TVC:DXY , we can see that the index does not react to bullish news at all and apparently due to the overheated condition the index is ready to decline. In this case, this maneuver will be favorable for the pound sterling, which can strengthen the pair. On the chart we see an ascending channel and a pre-failure consolidation in the format of an ascending triangle. The resistance 1.2780 - 1.2800 plays a key role. Breakout of this zone and price consolidation above the level will form a bullish potential, which will confirm the breakout of the level. Support levels: 1.2715, 1.2615 Resistance levels: 1.2780, 1.2888 I expect a breakout of resistance under the pressure of buyers on the limit resistance zone. Regards R. Linda!
Long
by RLinda
7