AUDUSD shortHi everyone
AUDUSD
in top of channel we will waiting to break choch line then short to down of channel.
this post will be update
Channeltrend
GOLD SHORT TERM BULLISH gold is currenty trading in a channel again .the overall price action is bullish .so it is sae to take a buy.Hence the gold trades above the validation area and true volume range.it indicates that gold may have chance to buy to the higher positions .technically we have to trade in side of the channel that is what technical prospective says.Apply risk do not change the plan without a good reason
Dow Jones - All time high and 20% rally?Hello Traders and Investors, today I will take a look at the Dow Jones .
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Explanation of my video analysis:
For more than a decade, the Dow Jones has been trading in a rising channel formation. We had the first retest of support and resistance back in 2011 and ever since this was a massively profitable channel pattern. With the recent breakout above the $35.000 resistance level, the Dow Jones clearly looks like the next target is once again the upper resistance of the channel.
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Keep your long term vision,
Philip (BasicTrading)
Ethereum - $5.000 retest soon?Hello Traders and Investors, today I will take a look at Ethereum .
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Explanation of my video analysis:
By connecting the significant highs from 2018 and 2021 and the significant lows from 2019 and 2022 you can see that Ethereum is clearly trading in a rising channel formation. Furthermore Ethereum is approaching the previous all time high which is roughly at the $4.500 area but even then the path of least resistance is certainly higher. Eventually I do expect a retest of the $5.000 level.
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Keep your long term vision,
Philip (BasicTrading)
EurUsd - Lower, 1.000 pips lowerHello Traders and Investors, today I will take a look at EurUsd .
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Explanation of my video analysis:
EurUsd has been trading in a descending channel formation for a very long period of time. At the moment EurUsd is once again retesting the upper resistance in confluence with a horizontal structure so there is simply a higher chance that we will see a continuation lower from here. This means that as stock traders - especially from Europe - we can continue to trade our U.S. stock position without worries.
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Keep your long term vision,
Philip (BasicTrading)
Sell GBPCAD Bearish ChannelThe GBP/CAD pair on the M30 timeframe presents a potential selling opportunity due to a well-defined channel pattern. This suggests a shift in momentum towards the downside in the coming Hours.
Key Poin ts:
Sell Entry: Consider entering a short position around the current price of 1.7405, positioned close to the top of Channel. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 1.7373
2nd Support – 1.7352
Stop-Loss: To manage risk, place a stop-loss order above 1.7425 This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
Thank you.
Nvidia - Earnings, Channel, $1.000!Hello Traders and Investors, today I will take a look at Nvidia .
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Explanation of my video analysis:
If you are objectively looking at the stock chart of Nvidia, you can see that Nvidia is currently trading in a solid rising channel formation. But as we are speaking, Nvidia is retesting the upper resistance and considering that we just saw a rally of +700% without any real correction, it is quite likely that we will see at least a short term bearish rejection from here.
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Keep your long term vision,
Philip (BasicTrading)
Ethereum - 20% Rally within a day!Hello Traders and Investors, today I will take a look at Ethereum .
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Explanation of my video analysis:
6 years ago, Ethereum started creating a simple rising channel formation, similar to the one which we are seeing on Bitcoin. Furthermore Ethereum retested the previous all time high back in 2022, created bullish confirmation and a rally of + 250%. Considering that Ethereum is once again approaching the upper resistance level, I do eventually expect a bullish breakout followed by an even crazier rally.
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Keep your long term vision,
Philip (BasicTrading)
Expecting Some Strength In The US DollarBased on the chart, here are the reasons why I would consider buying the dollar index:
Uptrend Resumption: The dollar index has been in a steady uptrend since the beginning of the year, and after a brief correction, it appears to be resuming its upward trend. Buying into this momentum could be a profitable strategy.
Support Held: The index has bounced off a significant support level, indicating that buyers are stepping in to defend this level. This could be a sign of strength and a potential buying opportunity.
Bullish Reversal Pattern: The recent price action resembles a bullish reversal pattern, such as a candlestick rejection, which could be a sign of a trend reversal to the upside.
Fundamentals Align: The dollar is often seen as a safe-haven currency, and with global economic uncertainty on the rise, investors may be seeking refuge in the US dollar, driving its value higher.
Major Level Holds: The index has held above a major psychological level (104), which could be a sign of strength and a potential launching point for a further rally.
These are just some of the reasons why I would consider buying the dollar index. However, it's essential to conduct thorough analysis, consider multiple perspectives, and manage risk before making any trading decisions.
Clear blue SPYsMy play on words... lol. I'm thinking with NVDA earnings next week we could go even higher. The last time SPY flew extra high was on NVDA earnings last quarter. Back to the chart, staying above the mid point of the channel is key. This weekly parallel channel provides the levels for the daily too.
BTC Support ChannelJust watching the theory I have in place that BTC has a line of support and is consistently consolidating in this small channel. From others I have been hearing BTC will go down.
$CDNA Continuation Long Term Channel UpHello, traders! Today we're spotlighting NASDAQ:CDNA (CareDx, Inc), which is exhibiting a compelling long-term Channel Up reversal structure. This formation indicates a robust bullish sentiment, which could potentially lead the stock to revisit its all-time highs and even explore new price levels in the coming years.
Chart Analysis:
Pattern: Channel Up Reversal
Current Price: $11.06
Volume: Ideally, increasing volume should accompany the price rise, confirming the strength of the reversal.
Key Observations:
The Channel Up pattern suggests a stable and consistent uptrend. The stock's ability to maintain higher lows over an extended period is a strong bullish indicator.
The reversal is taking shape after a period of consolidation, offering a clear channel structure as a roadmap for future price movements.
Trading Strategy and Targets:
First Target (TP1): Around $15-$16, aligning with the first significant Fibonacci retracement level and expected resistance.
Second Target (TP2): The next major Fibonacci area falls between $30-$34, where previous resistance could convert into new support, paving the way for further gains.
Third Target (TP3): Aiming for $55-$60 as the subsequent Fibonacci level and psychological resistance point.
Long-Term Targets:
All-Time High (ATH): Reaching for the ATH around $100. Breaking this level could trigger a strong psychological buying response.
Price Discovery Phase: If the momentum continues beyond the ATH, speculative targets could range between $200-$350, based on extended Fibonacci projections and market dynamics.
Trade Setup:
Entry Point: Consider entries on pullbacks to lower channel boundaries or after a high-volume breakout above recent highs.
Stop-Loss: Set stop-loss orders below the most recent swing low within the channel to protect from downward breaks.
Take-Profit: Gradually take profits at the described Fibonacci levels, potentially using a trailing stop to maximize gains.
Risk Management:
Invest cautiously, as long-term trades are susceptible to broader market shifts and specific sector impacts. Adjust your exposure based on your risk tolerance and always have an exit strategy in place.
Conclusion:
NASDAQ:CDNA offers a textbook example of a Channel Up reversal that could reward patient investors handsomely. Keep a close eye on industry trends and financial reports that could influence the stock’s trajectory. Happy trading and let’s ride this channel to new heights!
Disclaimer: This analysis is for educational and entertainment purposes only and is not financial advice. Always perform your own research and consult with a professional before making any investment decisions.
$SLI Descending Broadening Wedge Formation Swing TradeHello, traders! Today, we’re diving into an interesting setup on AMEX:SLI (Standard Lithium Ltd), which has formed a Descending Broadening Wedge. This pattern is typically considered bullish and suggests a potential reversal from the current downtrend. Given the broader context and AMEX:SLI 's fundamentals, this could be the start of a significant long-term swing trade.
Chart Analysis:
Pattern: Descending Broadening Wedge
Current Price:
Volume: Look for increasing volume on the breakout as a confirmation of trend reversal.
Key Observations:
The Descending Broadening Wedge has been forming over the past few months, indicating volatility and uncertainty, but with a bullish bias for a breakout.
A solid breakout above the upper trendline could confirm the reversal and set the stage for progressive price climbs.
Trading Strategy and Targets:
First Target (TP1): The first significant take-profit area is between $3-$4, aligning with key resistance levels and a minor Fibonacci retracement.
Second Target (TP2): At $6, corresponding to a stronger historical resistance and a more substantial Fibonacci level.
Third Target (TP3): Aiming for $12, where we anticipate hitting pre-established highs and possibly entering a phase of price discovery.
Long-Term Target: Should AMEX:SLI break past $12 with strong fundamentals and market support, a speculative long-term price discovery target ranges from $25-$50.
Trade Setup:
Entry Point: Look for a breakout above the upper boundary of the wedge with high volume as a bullish entry signal.
Stop-Loss: Set a stop-loss just below the most recent low within the wedge to minimize potential downside.
Take-Profit: Adjust your take-profit levels to the Fibonacci retracements and psychological price points as outlined.
Risk Management:
This setup, while promising, carries risks typical of volatile stocks. Manage your investment size according to your risk tolerance, and consider using a trailing stop to protect gains as the stock price increases.
Conclusion:
AMEX:SLI presents an exciting opportunity for those looking for long-term growth in the commodities sector. As always, ensure you do your due diligence and keep an eye on sector-specific news that could impact price movements.
Disclaimer: This analysis is for educational purposes only and is not financial advice. Always perform your own research and consult with a professional before making any investment decisions. Happy trading!
Nvidia - Another push higher from here?Hello Traders and Investors, today I will take a look at Nvidia .
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Explanation of my video analysis:
Nvidia stock has been trading in a rising channel formation for a couple of years. We saw the last retest of support in the beginning of 2023 which was followed by an unbelievable rally of 625% towards the upside. At the moment Nvidia is retesting the upper resistance but we might see a retest of the psychological $1.000 level first and then a correction.
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Keep your long term vision,
Philip (BasicTrading)
Sell USDCAD Channel PatternThe USD/CAD pair on the M30 timeframe presents a possible shorting opportunity due to the presence of a channel pattern.
Potential Short Trade:
Entry: Consider entering a short position (selling) only after a confirmed breakout below the support trendline of the channel. Ideally, this would be around 1.3750 or lower if the price continues to decline after the breakout.
Target Levels:
1.3652: This target is achieved by measuring the height of the channel (distance between the resistance and support lines) and projecting it downwards from the breakout point.
1.3607: This is a further extension of the downside target, based on roughly twice the height of the channel.
Stop-Loss: Once the entry point is confirmed, place a stop-loss order above the broken support line of the channel, ideally with some buffer around 1.3770. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
Thank you
Bitcoin - Channel, Breakout and a $250.000 Target!Hello Traders and Investors, today I will take a look at Bitcoin .
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Explanation of my video analysis:
On the higher timeframes of the Bitcoin chart - symbol BTCUSD - you can immediately spot a simple rising channel formation. About a year ago, Bitcoin retested and rejected the lower support of the rising channel formation and is now retesting the previous all time highs at $65.000. If we see a breakout, the next resistance is all the way up at $250.000.
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Keep your long term vision,
Philip (BasicTrading)
Nasdaq - Shifting back bearish?Hello Traders and Investors, today I will take a look at the Nasdaq.
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Explanation of my video analysis:
For over a decade the Nasdaq has been trading in a pretty obvious rising channel formation. We saw the last retest of support in 2022 which was followed by an enormous +70% rally towards the upside. Considering that the Nasdaq is now retesting the upper resistance, there is a quite high chance that we will see at least a short term correction lower before the Nasdaq will follow its overall uptrend.
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Keep your long term vision,
Philip (BasicTrading)
Where Does TSLA Land?
Trend
- Downtrend confirmed.
- Components of the channel chart:
The original downtrend channel plus a 100% extended channel.
Both channels divided in half by blue dotted lines.
The shaded zones furthest from the center represent "overbought/oversold forces," which counterbalance each other.
- Currently, the price is descending into the extended channel, suggesting a chance of reaching the lower band of the extended channel.
- Note that when the price enters the orange shaded zone, it could move rapidly in one direction, as there is minimal previous support and resistance.
- The trend lines serve as potential support and resistance levels.
100% Symmetrical Projection: Downtrend “N” Patterns
- A 100% Symmetrical Projection of the previous swing (from A to B) and then projected from C. As a result, D is the initial target price on the short side.
- The 0.5 level from C to D serves as a clear support, enhancing the value of this projection.
N Pattern’s Target Price & Fibonacci Price Cluster
- The target price of $116 at level D aligns with a major prior low on the weekly chart.
- Levels 1 & 2 are significant due to the price cluster effect, demonstrating the validity of the extension of the prior major swing.
- Consequently, Level 3 has a good chance of becoming a critical support and a potential target price.
Conclusion
- In comparison with symmetrical analysis, TSLA's trend channel chart provides higher reference value.
- The dynamic target price is the lower band of the extended channel.
- The fixed target price (strong support) could be $122, followed by $116.
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.
Nasdaq - Correction already over?Hello Traders and Investors, today I will take a look at the Nasdaq.
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Explanation of my video analysis:
For more than 10 years the Nasdaq has been trading in a pretty obvious and also profitable rising channel formation. We saw the last retest of support back in 2023 which was followed by a significant rally of +70% towards the upside. As we are speaking the Nasdaq is actually retesting resistance so there is a quite high chance that we will see at least a little more bearish continuation.
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Keep your long term vision,
Philip (BasicTrading)
NEAR Protocol Price Prediction: Bullish115% or Bearish 44% ?!NEAR Protocol is currently trading within an ascending channel, with clear reactions to the channel's support, resistance, and midline.
Based on current market conditions, our first expectation is for NEAR to break above the $6.037 resistance level and continue its upward trajectory, supported by the $5 level. This could lead to price targets of $7.4, $8.9, and ultimately $13.
However, a bearish scenario could also unfold if the channel's support is broken and the $5 level fails to hold. In this case, NEAR could experience a downward movement towards the $3 level.
Which scenario do you favor?
Nvidia - Struggling at the highs!Hello Traders and Investors, today I will take a look at Nvidia.
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Explanation of my video analysis:
For more than 6 years Nvidia stock has been trading in a pretty obvious rising channel formation. At the moment Nvidia stock is actually retesting the upper resistance trendline. Considering that Nvidia stock also rallied 650% over the past couple of months, it is quite likely that we will see at least a short term correction towards the downside, retesting the previous all time high.
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Keep your long term vision,
Philip (BasicTrading)
TSM: After Downgrading The Outlook, What To Expect?
Trend
- On the weekly chart: Clearly showing an uptrend.
- The uptrend channel has extended 100% and is expected to return to the middle line at least, with a chance of reaching the lower band of the original channel.
100% Symmetrical Projection: Uptrend “N” Patterns
- A 100% Symmetrical Projection of the initial swing (from A to B) and then projected from C. As a result, D was our initial target price.
- Without a symmetrical retracement from D to E, there's a resistance-turn-support at level D, and the price continued to rise. The target price was adjusted another 100% higher to D' due to the very strong momentum.
- However, the price failed to reach D' and fell below level D at $135, indicating that the momentum has dissipated. Additionally, on the daily chart, there's a support-turn-resistance to reinforce the level's importance.
- What's next?
The price may retrace 100% of the "extra force" of the blue box; or
The price is likely to fulfill the original symmetrical retracement from D to E.
N Pattern’s Target Price & Fibonacci Price Cluster
- The 0.5 Fibonacci Retracement of the entire swing from A to HH perfectly aligns with level E, which can be seen as one of the current target prices on the short side.
- The 0.618 Fibonacci Retracement of the more recent swing from C to HH is close to the low of the returning blue box.
- Both levels and the previous key resistance level at B form a tight zone, likely to be a significant support area (the gray area).
Conclusion
- After breaking below the key level at $135, TSM is expected to retrace to the tight range between $109 and $112.7.
- In other words, if you’re considering to buy more and invest in TSM, this tight support area presents an opportune entry point.
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.
