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Ascending Channel

DXY will trigger a huge crash! Best to stay in cash. Everything indicates that the recession in 2023 is pretty much inevitable. And when the Fed pivots, a market crash is almost guaranteed. Nothing is for sure, but it's based on historical statistical data. The DXY index is currently sitting at the strongest support ever created. It's the rectangle line + wave (3) + wave 1. As per Elliott Wave rules, in an impulse wave, wave 1 cannot overlap wave 4. Only a small wick is permitted. I think this is the best place for a trend reversal and a strong dollar again. Let me know what you think about the recession and the strong DXY dollar in the comments! I want to know your opinion! As you can clearly see, this is the monthly chart, and the price is following this ascending parallel channel. Since 2008, we have been in an uptrend, and trend is your friend until the end. I think if DXY drops below 101, then it's over and this channel is going to break down. The dollar will be weak, and the bull market is imminent. But now there is no point in speculating on a weak dollar; why would you do that? I don't think it's a good idea to short the support and long the resistance. But the majority of traders do that, which is a paradox. This is my update on the DXY index. The dollar is still in a strong uptrend, and from a technical perspective, the uptrend is intact. But let's see if the big players still want a strong dollar. We will discover soon! Happy trading!
TVC:DXYLong
by UnknownUnicorn2537518
66
Ethereum is bullish! | Bull flag is ready! This bullish flag is absolutely ready for a breakout! I am bullish on ETH, and I opened a quick long position. I will exit at the resistance, and after that, I am going to short ETH! As you can see, the price is in this rectangle range, and usually the market is ranging 75% of the time, so there is a huge chance that the bears will step in at the resistance! I recommend shorting ETH later. In my opinion, there is currently only a 25% chance that this rectangle pattern will be destroyed by the bulls on the first try. I expect a strong rejection and will go back to the POC that you can see on the right side of the chart. There are a lot of stop losses above this flag, so I believe the market wants the liquidity. From the Elliott Wave perspective, it looks like a corrective tripple zigzag pattern (WXYXZ), because we have an overlap between the major waves, which is not a good sign for the bulls. This overlap is a problem. It shows the weakness, and I don't like it. Let me know in the comment section what you think! We have a double bottom pattern on ETH. The neckline needs to be broken to confirm this pattern, but it's not going to be easy. I don't know what about you, but I am now temporarily bullish on ETH, and I have my orders set to close long and open short at the resistance. I wish you a lot of fun during your trades! I post trade setups privately. This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. For more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
55
GOLD - Wall Street doesn't want you to know! Huge dump. GOLD is currently very close to an extremely strong level, which is the previous swing high from August 2022! The market will probably want liquidity above this swing high. I expect price to break this level and touch the top of the parallel ascending channel. As per my Elliott Wave analysis, a classic impulse wave is almost done. This is a simple pattern that may work in confluence with other indicators. What do you think about gold? Let me know in the comment section, because I look forward to your opinions! I recommend you short gold once we break the previous swing high or once we touch the top of the channel again. Of course, you can set a limit order or wait for some reversal pattern at the critical point on lower timeframes. I hope this analysis will help you with your trading decisions! Keep in mind that this is not a trade setup. There is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately. Where should you place your profit target? You can use my level, which is the breakout point of the previous trendline (1681.94). You can also long gold here in the future once the price reaches this important point. Wall Street doesn't want you to know that 99.9% of gold is paper gold in the form of contracts. You may say that the physical supply of gold is limited, which can be true. But they can "print" an infinite amount of paper gold backed by fiat. For more ideas, hit "Like" and "Follow"!
OANDA:XAUUSDShort
by UnknownUnicorn2537518
55
AUDUSD a move to the 0.66?🦐AUDUSD on the 4h chart is trading inside an ascending channel. The market is now testing the lower trendline and a possible break can be expected during this week. How can i approach this scenario? I will wait for a potential break of the dynamic support and IF the price satisfy the condition i will apply a nice short order according to the Plancton's strategy rules. ––––– Follow the Shrimp Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger
by InkyGrip
10
USDSGD coming back for a retestAfter USDSGD has escaped the ascending channel and the head and shoulders pattern, it is now touching an ascending trend line starting back from Sept 21 and touched again on Feb 22, also touching a 23.6 fib level, currently looking to retest the previous support (neckline) and a 61.8 fib, which is now resistance @1.366, and also the lower channel line. Which was broken earlier. in a 1-hour time frame appears to print a divergence on the RSI indicator, which indicates that we might have a change in the direction -------------------------------- Feel free to share your thoughts in the comments, and kindly support the idea with a like. Your support is greatly appreciated!
Long
by Candlestick_OB
4
4 bearish targets converge on DXYWe just recently reached the breakdown target for the ascending h&s pattern with the pink neckline when price fell to 109.2. Our next target is for the slightly bigger head and shoulders with the bluish green neckline at 106.9 which we are now very close to reaching. the next breakdown target after that is for both the largest h&s pattern with the yellow neckline at around 104.69. This also happens to be the exact breakdown target for the purple channel if it confirms its breakdown in this zone. We can see we just recently closed 1 daily candle below the purple channel, and our follow up candle has already so far as of now retested the bottom trendline of the purple channel as resistance..should this candle close below the purple channel as well that greatly increases the probability it will confirm the breakdown from the purple channel. The final breakdown target at 104.39 is for breaking down from the red descending channel. We can see that both the red breakdown target and the yellow/purple take us to a very crucial horizontal trendline which is currently being overlapped by the 200ma(in blue) If DXY cant get price action back above the purple trendline soon odds are good it will retest the 200ma and this horizontal line as well. *not financial advice*
TVC:DXYShort
by DrDovetail
Bitcoin - 1 million USD (You have never seen this before) You see this ascending parallel channel for the first time! The channel is projected from the start of the bull market in 2018 to the end of the bull market in 2021. The road to 1 million will be full of traps, liquidations, scams, and frauds. But if you are ready for a roller coaster, you can hold your bitcoins in cold wallets such as Trezor, where they will be frozen to death. This is a projection because, of course, no one can predict the halving dates. I want to show you how Bitcoin can behave on the road to 1 million USD. This parallel channel should be sustainable over time; there is not too much pressure, and we can reach 1 million in 2037. But for now, we are in 2022, and the current price is 16,500 USD. As you can clearly see, Bitcoin could reach 6,500 USD next year to touch the bottom of the parallel channel. I don't see any problem with that. Who will get rekt after FTX? Let me know in the comment section right now! Bitcoin is extremely volatile and dangerous asset, they said. If you bought the peak, then yes, it's dangerous. Thanks for your attention!
BITSTAMP:BTCUSDLong
by UnknownUnicorn2537518
116
Decending Channel + weak bullish signalThe end of an ascending channel and the beginning of a descending channel. As we can see the RSI indicator is in an overbought zone for some hours, however the MACD weren't strong enough to continue going up after crossing the signal line and went down again, so the candles continues to make HL and just two HH. The BB moving average was crossed but just with two shadow candles and the second one was a bearish candle followed by a full bearish candle
OANDA:XAUUSDShort
by AFCapital21
GBPUSD-Weekly Market Analysis-Nov22,Wk4It's amazing that for more than a week, the market trial along the tip of the ascending channel; shows that the market has hesitance to break and close above the channel. That is excellent news, as I plan to short the GBPUSD off the Weekly Resistance Level. You could check the related ideas within the tradingview post for my lower timeframe strategy. If a break and close above the parallel channel happens, I will wait for a candlestick pattern confirmation at 1.2572 for a Bearish Butterfly Pattern. The harmonic pattern has the potential to form within the next consolidation zone, which is great for extension patterns like the Butterfly Patterns.
Short
by RaynLim
Bitcoin - The strongest support right now! 0.618 FIB Today I woke up and saw a massive red dildo and I have to make an update and give you an idea, so keep reading! As you can see on the chart, the price went down pretty significantly, but is it really a problem? I don't think so. I detected an impulse wave that was completed a few days ago, and we are retracing this wave. There is nothing wrong with that. Currently we are at the 0.618 FIB retracement, which is a classic correction for an impulse wave (1). The 0.618 FIB is a very healthy correction and usually the majority is selling while the smart money is buying. If you think Bitcoin is going to 13k, let me know in the comment section. Counter-trends are usually very steep, which can be seen on this chart. Bitcoin is very weak compared to altcoins, very weak. This is an indication of an alt season to me. For more analysis, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
93
Bitcoin - Next week will be extremely bullish! It looks like next week will be extremely bullish for Bitcon and also for the altcoins! Price is currently moving in the ascending parallel channel, so the bulls have strong momentum. As per my Elliott Wave analysis, the first impulse wave has been completed, and I expect another 2 impulse waves to the upside. 23 000 USD next week is definitely possible! There are no gaps that need to be filled on this chart, which looks safe. The chart is printing a bullish flag, so wait for a breakout for confirmation! I wish you massive profits! I expect tremendous gains for selected altcoins. You can find them in the related section down below. For more analysis, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
110