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Parallel Channel

NVDA Charting and Overview (Short-Term Short)Hi Traders, Here's my overview of NVDA stock from technical perspective using basic charting and ignoring all the AI frenzy. 1. On 4h time frame I could spot a bigger parallel channel which sits on March 24 highs, Jun 24 highs, August 24 lows (Gap closing). Based on this channel alone, the next target/resistance is ~136 per share area. 2. Also, there is another rising parallel channel which started on the lows of 6th of September. Since then, NASDAQ:NVDA has been printing higher highs until today. This channel upperband is also ~136 area. 3. Finally, if we take a closer look at previous highs where the price pivoted, you can find July 2024 high was the one and was ~136 (136.15 to be precise). This way we have 3 (three) technicals signaling 136 level is a strong resistance and the price might retrace from there at least 4% (down to 130 where another support sits). By the time I am writing this, the price is already in 134 area and I expect it to reach at least 130. Tony.
NASDAQ:NVDAShort
by AATONY
1
DOGS → Double bottom favors resistance breakoutBINANCE:DOGSUSDT is forming a double bottom followed by a breakout of trend resistance. Quite a promising situation, provided the bulls hold their defenses above 0.00081. After the listing, the coin flies to the moon due to the dump, but after the appearance of a strong seller or lack of interest from the buyer, against the background of weakening support of Pavel Durov arrested in France, a market phase change to a “dump” is formed. Technically, a double bottom is formed on 4H, followed by the renewal of local lows and the breakout of trend resistance, which indicates the formation of a market bottom. At the moment, the cryptocurrency market shows bullish dynamics, which can affect DOGS accordingly Resistance levels: 0.000885, 0.000938 Support levels: 0.00081 After the dump the coin has good chances to show already adequate realization. If the bulls keep the defense above 0.00081, we will have chances to get on the train to the north, to the targets 0.00096, 0.001, 0.00117 Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:DOGSUSDT ;) Regards R. Linda!
Long
by RLinda
1
GOLD → Will the rally end with a FB? 2670 - liquidity...FX:XAUUSD is growing together with the dollar, the correlation cooled down after the change of fundamental background. The range of 2670 - 2600 is being formed. The metal is rallying to resistance for liquidity. Geopolitical issues. High tensions in the Middle East as well as rising tensions in East Asia between China and Taiwan are worrying investors looking for safe havens. Last week showed not so good economic data for gold. The dollar rose very strongly during that time. But gold gold traders were most likely paying attention to the dovish remarks by Fed policymakers about lowering interest rates.... Technically gold is in a sideways range and is testing liquidity above 2660. The bears are likely to give a not so warm welcome.... Resistance levels: 2663, 2670, 2685 Support levels: 2650, 2637, 2623 Strong movement from the bottom of the range reaches its upper boundary. Technically, the price has no potential to break through the strong range resistance. A false breakout is possible, the purpose of which may be to capture liquidity, followed by a decline. The situation may be broken by unexpected geopolitical or economic news, but at the moment there is no such news Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDShort
by RLinda
6
#ETHWUSDT #1W (ByBit) Descending channel breakoutEthereum PoW regained 50MA weekly support and seems to be in full bullish mode, continuation is on. ⚡️⚡️ #ETHW/USDT ⚡️⚡️ Exchanges: ByBit USDT, Binance Futures, OKX Futures Signal Type: Regular (Long) Leverage: Isolated (1.0X) Amount: 5.0% Current Price: 3.665 Entry Zone: 3.524 - 2.904 Take-Profit Targets: 1) 5.119 1) 7.030 1) 8.941 Stop Targets: 1) 1.940 Published By: @Zblaba AMEX:ETHW BYBIT:ETHWUSDT.P #1W #Ethereum #PoW ethereumpow.org Risk/Reward= 1:1.5 | 1:3.0 | 1:4.5 Expected Profit= +59.3% | +118.7% | +178.2% Possible Loss= -39.6% Estimated Gaintime= 3-6 months
Long
by TradingOn
Bullish Butterfly Ascends a Channel w/Underlying Fib LevelsHere I have BINANCE:XRPUSDT on the Weekly Chart! Beginning of March 2020, BINANCE:XRPUSDT hits its Lowest Low @ .1013 Beginning of April 2021, BINANCE:XRPUSDT hits its Highest High @ 1.9669 For context ~1,800% Increase in 1 Year Taking the Fibonacci Retracement Tool, we can see that Price made a drop after the Higher High (Point A) to the 78.6% level (Point B), created a Lower Low at the 32.8% (Point C), then was rejected after descending to the 88.6% (Point D) and with this Price Action, formed a Bullish Harmonic Butterfly Pattern!! Parameters: X - B .786 A - C .382 / .886 B - D 1.618 / 2.618 X - D 1.27 / 1.618 (B/D and X/D Fall Short) -Price is continuing to trade Above the 200 EMA With the short-coming completion of this pattern, sprouts an Ascending Channel that Price now currently is traversing up! -If Price can continue this upward path, I believe it will battle with the Overlying Resistance Zones that line up with these Fibonacci Levels! 1) .8139 - .9240 (61.8% - 55.9%) 2) 1.2542 - 1.5266 (38.2% - 23.6%) *Caution to those who see the Ascending Channel break Bearish, because then Price Action could be a signal of a Double Top!
Long
by Novi_Fibonacci
2
Baby steps taken by Nifty towards road to recovery. Today we saw Nifty take first baby steps towards road to recovery. Nifty was seen rising from channel bottom in the hourly chart. One must note that formidable Mother and Father resistance are yet to be conquered. Nifty today was blocked by Mother line which is at 25140. Father line which is at 25262 is waiting to resist further progress of Nifty. To know more about stop losses, trailing stop losses, Profit booking and investment, financial awareness in general, process of investment in Equity or Mother, Father and small child theory read my book The Happy Candles Way to wealth creation. Many People who have read it consider it as hand book and perfect guide to equity investment. You can read reviews of the book or purchase the same from Amazon. The book is available on Amazon in Kindle and paperback version. I am sure you are going to find it of massive use. Once you have read the book, I assure you that you will become a next level investor. If Nifty is able to conquest Mother and Father line, the next resistances will be at 25475, 25644, 25753 and 25875 before Nifty is able to regain 26K levels. Supports for Nifty will be at 24915 (Important Parallel chanel bottom), 24684 and 24478. In worst case scenario Nifty bottom currently seems to be near 23891. It is less likely that Nifty reaches here unless there is some escalation in Middle East or some other major global event.
NSE:NIFTYLong
by Happy_Candles_Investment
EURO - Price can turn around and start decline to support lineHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Recently price traded inside flat, where it declined to resistance area, which coincided with $1.1125 resistance level. Next, price bounced and tried to grow, but failed and started to decline inside falling channel, exiting from flat. In channel, EUR broke $1.1125 level at once and continued to move down, until it reached $1.0955 level. Price some time traded in one more resistance area and later broke $1.0955 level too, after which started to trades below. A not long time ago, price reached resistance line of channel, so, I think that Euro can reach resistance level. After this movement, price will turn around and start to decline to $1.0790 support line of falling channel. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
10
DC. Everything new is a well-forgotten old.The global descending channel formed in April is currently under pressure. The price has been testing the resistance line for two weeks. The potential breakout looks interesting for two reasons: 1. The price target of the channel breakout with a probable time lag, which is due to the formation of an equilateral triangle, curiously coincides with reference points from more than six months ago. 2. The price target of the channel breakout with a probable time lag, which is due to the formation of an equilateral triangle, curiously coincides with the trading area from more than six months ago.
by Tropnik
Bitcoin Needs Correction!!!As I had expected in the ✅ previous post ✅, Bitcoin started to pump after a Bear Trap . Bitcoin is currently moving in the Resistance zone($63,470-$62,340) and near the upper line of the Descending Channel , and 200_SMA(Daily) . I expect Bitcoin to drop to at least the Support zone($61,840-$61,450) . ⚠️Note: The probability of forming a Bull Trap and breaking fake the descending channel.⚠️ ⚠️If Bitcoin can break the Descending Channel and 200_SMA(Daily), we can expect Bitcoin to rise again to at least $66,000.⚠️ Bitcoin Analyze (BTCUSDT), 1-hour time frame⏰. 🔔Be sure to follow the updated ideas.🔔 Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
36
BITCOIN → The rally is manipulation. U-turn and down to 52K?BINANCE:BTCUSDT confirms the bearish market structure. After the 59K retest, the price rallies 7%. There is no technical or fundamental explanation for this market manipulation: $6K down, $ 4K up, $5K down, $ 4K up within the last two weeks... Bitcoin is still trading within a sideways range of 65K - 52K. The last resistance retest ended in a false breakdown and a price drop of 11% to 59K. Also, the local change of the market character (price confirms the downtrend) to bearish and formation of the downtrend channel (I remind about the downtrend on D1-W1) plays an important role. Emphasis on resistance 63400, 64130, 65000, possible retest or false breakdown followed by downside realization as we still have not reached the key liquidity zones.... Resistance levels: 63400, 64130 Support levels: 61320, 59000 The price is testing the resistance zone as part of the rally. There is no accumulation or technical potential to overcome this area for further growth. Within the bearish trend, the buyer does not show dominant signs and with high probability it will be stopped in the key zone. A reversal and decline to the lower zone of the sideways range is possible... Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:BTCUSD ;) Regards R. Linda!
Short
by RLinda
120