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Parallel Channel

Qnt forming right shoulder on invh&s while retsting channel ttl I’m hoping the right shoulder quant is now forming here by retracing after reaching that top purple horizontal line, will be a very short shoulder with help from it’s recent golden cross and hopefully the support from the top trendline of the yellow channel that quant just recently broke above. Usually a right shoulder would last for a much longer period of time than I have drawn this one to last in order to be ore proportional with the left shoulder(not shown here), however loopring and a few other charts recently have had very small asymmetric right shoulders on the inverse head and shoulders patterns that their price broke upward from so that may also be the case for quant’s right shoulder as well. We will see soon enough, if Quant is to follow suit with the rest of the altcoin market it’s recent golden cross should give it the bullish momentum it needs to complete this right shoulder as a very small shoulder indeed.
COINBASE:QNTUSD
by DrDovetail
VET/USD 3-Day Chart - Uptrend, Potential Breakout, and Reversal This analysis examines the VET/USD 3-day chart, focusing on a potential uptrend, breakout target, and reversal signals. Identifying the Uptrend: Rising Channel Pattern The chart exhibits a rising channel pattern, characterized by price movements bouncing between an upward-sloping upper trendline and a lower trendline. This pattern typically suggests an uptrend, where the price makes higher highs and higher lows over time. Target Price Based on the Uptrend Channel The upper trendline of the channel can be used to estimate a potential price target for the uptrend. In this case, the analysis suggests a target of around $0.0600 for VET if the uptrend continues within the timeframe of the 3-day chart. Double Top Pattern: Reversal Signal or Resistance Test? An interesting observation is the presence of a possible double top pattern near the $0.053 resistance level. A double top is a bearish reversal pattern formed by two consecutive price peaks at approximately the same level, followed by a trough and a break below the support level between the peaks. If confirmed by a breakdown below the support level, this pattern could signal a potential trend reversal towards the downside. However, it's important to note that the double top formation might not be confirmed yet. The price could be attempting to break through the resistance at $0.053 for a continued uptrend. Strong Support Level: A Potential Buying Zone The chart also indicates a strong support level at $0.045. Support levels represent areas where buying pressure tends to increase, potentially halting or reversing a price decline. If the price falls, it might find support around $0.045, preventing a steeper decline. Additional Considerations for a Well-Rounded Analysis While the technical analysis of the channel pattern and potential double top provide valuable insights, a more comprehensive analysis should consider these additional factors: Trading Volume: Higher volume on breakouts (upward surges through the upper trendline) strengthens the uptrend's validity. Conversely, lower volume breakouts suggest a weaker uptrend susceptible to reversal. Technical Indicators: Technical indicators like the RSI (Relative Strength Index) or MACD (Moving Average Convergence Divergence) can be used to gauge momentum and identify overbought/oversold conditions. This can help pinpoint potential entry or exit points within the channel or during a breakout/breakdown. Fundamental News and Events: Staying informed about relevant news or events impacting VET's price is crucial. Announcements from the VeChain Foundation or partnerships with other companies can influence price movements. By combining these elements with technical analysis, you can develop a more comprehensive understanding of the VET/USD 3-day chart and potentially make informed trading decisions. Remember, technical analysis is a tool to assist with trading decisions, but past performance is not always indicative of future results.
COINBASE:VETUSDLong
by ParabolicP
1
$SPY December 5, 2024AMEX:SPY December 5, 2024 15 Minutes 60 Minutes Gaps not getting filled. Very strong uptrend. Being a moving average and Fib trader i do not have a setup for fresh entry or short. At the moment if any pull back 60o is the number to watch. It is 9 moving averages in day, and 38.2% retracement for the move 587.43 to 607.91. AMEX:SPY not even breaking 21 averages in 60 minutes since the move started from 587.43. HH HL pattern. No way to short. At the moment even if I short at 601 levels the target is only 598. So not much R:R. Need to continue the longs for 608-612 as initial target provided 601 is holding. I have no position.
AMEX:SPY
by RiderTrader
12
Descending channel from the 1 month chart timeframeI just posted a version of this channel on the 3 month chart timeframe, however looking at the month time frame I also found some bullish confluence to confirm this potential channel. A deeper correction now that we have retested the top trendline of this potential channel would not surprise me from here. I arbitrarily put the measured move lines for when we could break up from this channel around May 2024, simply because the halvening occurs in mid to late april so it seemed like a reasonable area to expect us to finally overcome this channel. We’re we to break up from the channel in that exact spot, the measured move for the channel breakout on its own looks like it would take us to 80k. If it was more than just a channel and also a valid bull flag the measured move I get for the bul flag appears to be slightly under 100k. On the 3 month chart the bull flag was slightly over 100k but that may also be because I placed the measured move line arbitrarily earlier than may as I have done for this 1 month chart representation. Will be interesting to see how this plays out. The silver lining here is that if this channel is valid and price is about to flip back to the down trend for a few it is simply another opportunity to accumulate for the upcoming liftoff which is likely to occur post halvening. *not financial advice*
BITSTAMP:BTCUSD
by DrDovetail
CLFD TO $32.50MODs 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 plan is very simple. I buy or sell at top & bottom of parallel channels. I confirm when price hits Fibonacci levels. So... Here's why I'm picking this symbol to do the thing. Price at bottom or below channels (period 100 52 39 & 26) Stochastic Momentum Index (SMI) at oversold overbought level VBSM is spiked negative Price at 2.618 Fibonacci level In at $27.45 Target is $32.50 or channel top Stop loss is $25.50
NASDAQ:CLFDLong
by chancethepug
ETC/ USD * Ethereum Classic - EWP FIB TC WEEKLY TF ANALYSISThe RSI on the lower part of the chart, currently around 39, indicating a slightly oversold condition. This suggests the market could be near a potential bottom, but further confirmation is needed. If this ABC correction holds, the price might find support near the 0.786 Fibonacci level ($15.65) or the lower boundary of the channel. This could signal the end of the corrective phase and the start of a new upward movement (Wave 1 of a new cycle). Alternatively, if price breaks below these support levels, it could suggest further downside, extending the correction.
COINBASE:ETCUSDLong
by Anakyn
2
Ethereum - Finally Starting The Parabolic Rally!Ethereum ( BITSTAMP:ETHUSD ) is is starting to catch up to Bitcoin: Click chart above to see the detailed analysis👆🏻 After Bitcoin finally managed to break above all of the previous all time highs, it is now Ethereum's turn to catch up. Market structure is still obviously bullish and with a pump of +35% over the past week, momentum is starting to pick up and bulls are stepping into the market. Levels to watch: $4.000, $15.000 Keep your long term vision, Philip (BasicTrading)
BITSTAMP:ETHUSDLong
by basictradingtv
24
#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
EURO - Price can bounce down from resistance area to $1.0385Hi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 A few days ago price bounced from $1.1000 level and rose to $1.1205 points, after which turned around. Then price started to decline inside falling channel, where it at once reached and broke $1.1000 level. After this, EUR fell to support line of falling channel, and then bounced and rose to resisatnce line, making a first gap. Price made downward impulse, thereby exiting from channel and starting to trades inside flat, breaking $1.0585 level too. In flat, Euro fell to bottom part but then turned around, made a second gap, and now trades close to $1.0585 level. In my mind, Euro can enter to resistance area and then start to decline to $1.0385, which coincides with bottom part of flat. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
10
zk channelHello, I hope you have a good day Cycles: HWC:uptrend MWC:uptrend LWC:range I am looking for a long position as our major cycles are all bullish📈 Let's look for the entry point: We go from a risky entry point to a more secure entry point 0.2321=Stop loss is more likely if the risky entry point reacts especially to 0.2347 We can wait for the number of resistors to increase to increase its safety 0.2347=Let's wait for it to meet the resistance to see the reaction and make a diagnosis It is more secure, but we may lose movement You can choose one depending on your strategy and personality😉 If you want me to analyze a coin, tell me in the comment🫡 ⚠️ Do capital management to survive ⚠️
Long
by parsa_xa
EURUSD → Consolidating before the news.... FX:EURUSD is in a current downtrend, but there is news ahead and traders are waiting for hints about the US monetary policy. The currency pair has not yet reached the local target... On D1, the struggle for space continues after the false breakdown of support. Also, the market is still yet to test 1.061 - 1.065 - the key liquidity zone. Ahead of ADP Nonfarm, PMI and Powell's speech, where, according to analysts, the issue of rates, US monetary policy may come up. Any hints of an aggressive rate cut could reinforce buying in the Euro and selling in the Dollar. However, we can't know this ahead of time, so the market may remain in consolidation until the news. Resistance levels: 1.0606, 1.0654, 1.076. Support levels: 1.0448, 1.033 Technically, the currency pair can form an upward momentum to key resistance areas, from which the decline can resume. But, if the price breaks the support and consolidates below 1.044, the decline may start earlier. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:EURUSD ;) Regards R. Linda!
Short
by RLinda
1
Quant on the rise after goldencross helps confirm triangle breakQuant essentially confirmed its breakout upward from the symmetrical white triangle around the exact same time it had its goldencross. You can also see a light yellow channel it has also broken up from, upon reaching the target of the white symmetrical triangle breakout, Quant should then be able to break upward from the blue channel as well which has a breakout target that can send Quant back to retesting it’s previous all time high. *not financial advice*
COINBASE:QNTUSD
by DrDovetail
#020 DCA USDJPY ShortPrice now at downward trendline and I am selling as I expect the higher Time Frame to continue buying JPY. JPY remains as the lowest interest rate currency among the major currencies so people might be readjusting their portfolio and continuing to borrow JPY and investing that money else where. Am I correct? I'm not sure. I'm just speaking my thoughts and I could be very far off from the truth. Anyway, money makes the world go round. Just like petrol gives the motorbike engine fuel to burn and rotate. And the starter gives the fuel a reason to ignite. I chose the SGD instead of GBP or other major currency so I could give myself some wiggle room for when other major pairs has some movement, I could take those pairs as well s8nce I feel that SGD is quite exotic and the economy is propped up by other countries mercy. 0836SGT 04122024
Short
by ProfessionalDuckHunter
TRX/USD Major trend. Channel. 17 11 2023Time frame 1 month. The ascending channel. A large triangle is forming in it with a base of about +550% (classic target workout from resistance breakdown). Secondary trend. Time frame is the same as 1 month. Triangle zone. Since the time frame is maximum 1 month, I set the maximum possible targets for the asset. Extremely strong resistance of the cryptocurrency, which from ICO +5500% (despite the conditional redistribution earlier several times) is a meridian channel (highlighted with a dotted line). I emphasize it. To earn consistently, you need to set adequate goals for most of the position. You can keep a small part of the whole position (not necessarily), for maximum "probability zone targets" (percentages are shown for clarity). After all, you can afford it since you will be in profit from the main position. When does the pump on large capitalization cryptocurrencies happen? Pumped when "the hamster is not scared", that is, at the very peak of market marketing. Although it is worth noting that pumped coins with large capitalization very rarely reach the so-called "probability" zones, and if it happens, then for a very short period of time. Pumps come (liquidity, large capitalization, HYIP) often on the last 5 waves of bitcoin pump (overflow of large capital money) in the distribution phase or on the pullback after it. TRX can be pumped under government events like BNB in 2020 ? BNB / USDT. Ascending channel. Cycle. Wedge. Reversal zones. Published 15 10 2020. Pumping +5500% From the average set price (at already +15,000% price values), the pump in the trend has occurred over +4400% to the highs of the distribution zone. BNB key capitulation zone, bottom, overpowering historical highs and super dump (probability zone): 🟣 Reset zone (carnival dump) $6.3$ 🔴 Zone of equalization and price consolidation after the dump 11.18$ 🟡 Zone of local ascending channel breakout (channel in channel) 39$ 🔵 Peak reset zone in the distribution cycle 670$ ❓Do you think it is possible to repeat the BNB HYIP on a notional Chinese blockchain TRX (in a country where supposedly cryptocurrencies are banned at the moment, but mass digitalization is underway) through which billions of dollars are transferred into USDT (cryptocurrency market pump) daily? By the way the charts are conventionally similar in meaning (trend holding on huge profits). Can TRX like BNB at one time make a super Pump on a large % already while holding on to a huge % profit? That is, will TRX cryptocurrency repeat the previous BNB hype given the usefulness of blockchain and the adoption of blockchain by a number of countries "now" and in the future? Action tactics. Super Pump. Risk Management. Quite possibly, but for very large sales targets (hamster) I would allocate probably no more than 5-10% of the total crypto coin position. And still in the market allocation zone I would keep these coins not on wallets, but in stop-loss to protect a very significant profit. To make big money (ta in general to earn at a distance), it is necessary to have an account of every penny and not to play in the casino, but only in the allowable, predictable risk. Pump/dump and super profit of "investors". ICO price It is worth noting that with ICO 2017 price is now about +5500% Price of token (then on ETH-ERC20) ICO: 1 TRX = 0.00000038 BTC ICO was fair, anyone could buy a token, which subsequently in 3 months will grow in value on the pamp method "stick" in 100 times. The capitulation zone (probability no more)). Repetition is the mother of learning. Partial reallocation of large holders (traders and investors) was in 2020 as well as most assets thanks to shaking out -60% in a couple days on 03 2020 from the accumulation zone. Will it happen again or not? Yes/No, you should always be prepared in any trend for such a hypothetical event that could significantly increase your asset holdings and deposit afterwards in the final unanticipated capitulation of the markets (multiple). Secondary trend. Time frame 3 days.
BINANCE:TRXUSDLong
by SpartaBTC
8
GOLD - Price can correct to support line and start to riseHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 Some days ago price entered to rising channel, where it rose to $2715 level and broke it, after which made retest. Then it rose to resistance line of channel, after which little declined and then continued to grow. When price rose to $2790 points, it turned around and started to decline, thereby exiting from channel. Gold continued to fall inside triangle, where it fell until to $2537 points, breaking $2715 and $2605 levels. Price rose to resistance line, breaking $2605 level, after which made correction and now XAU rising near support line. Possibly, Gold can bounce up from support line to $2715 resistance level, exiting from triangle. If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDLong
by WalterMoon
4
GBPUSD → Counter-trend correction before further declineFX:GBPUSD within the correction reaches a zone of interest and resistance from which the decline may resume as the dollar returns to a northbound rut ... Traders continue to fight for the 1.267 area, an area that is a strong enough support. Buyers don't have much of a chance as the dollar looks quite strong on the back of Trump's policies and is putting quite a lot of pressure on the forex market. Technically, the downtrend is the priority and we will be pulling back from it. Key zones: 0.5 Fibo and the boundary of the downtrend. False breakout may provoke further decline. Resistance levels: 1.275, 1.284 Support levels: 1.267, 1.264 False breakout of resistance will indicate the bears' domning and may provoke further selling. It is also worth emphasizing 1.267-1.264. A breakdown and consolidation of the price below this zone will also confirm the bears' intention Rate, share your opinion and questions, let's discuss what's going on with ★ FX:GBPUSD ;) Regards R. Linda!
Short
by RLinda
19