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Parallel Channel

Gold can break support level and continue to declineHello traders, I want share with you my opinion about Gold. By observing the chart, we can see that some days ago price rebounded from the support line of the upward channel and rose to the 2550 support level, which soon broke it. After this, the price tried to grow and some time traded higher, after which it made a correction movement to the support line of the channel, which is located inside the support zone. Then price turned around and continued to rise to the current support level, which coincided with one more support zone, and when Gold reached this level, it at once broke it. Next, the price some time traded near this level inside the support area and a not long time ago rose to the resistance line of the upward channel. But soon, Gold rolled down and in a short time declined to support the area, so, I think that Gold can make a move up and then continue to decline next. Also, I expect that XAU will break the support level and fall to the support line of the channel, therefore I set my TP at 2615, which coincides with this line. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDShort
by LegionQ8
2
GOLD - Price can start to decline, breaking support lineHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 Some time ago price started to grow inside a rising channel, where it firstly declined to support line. Then it rose to $2435 level, broke it, and continued to move up to resistance line, which coincided with $2530 level. Next, XAU some time traded near this level and later fell to support line of channel, after which made an upward impulse. Price broke $2530 level and rose to resistance line of channel, which soon broke also, thereby exiting from rising channel. At the moment, Gold trades near this line and I think it can rise a little more and then bounce down to $2580. If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDShort
by WalterMoon
6
NEIRO - Following the Hype...Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈NEIRO has been overall bullish , trading inside the flat rising channel in orange. Moreover, it is approaching a massive round number $0.001. 🏹 The highlighted blue circle is a strong area to look for buy setups as it is the intersection of the $0.001 and lower orange trendline acting as a non-horizontal support. 📚 As per my trading style: As #NEIRO approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
1
EURUSD → Bounce from 1.1200 before further growthFX:EURUSD has been rallying since the beginning of the Asian session and is reaching the key resistance at 1.1200. The psychological level has quite a strong weight on the market and it will be difficult to break this area from the first time.... A rebound is forming on H4-H1. On D1, a rather wide range of 1.120 - 1.105 is forming in the market but after the price exits the descending wedge, which is a rather promising bullish premise. Due to the strong distribution to 1.1200 the market has no potential to break through this zone, accordingly, in the short (mid) term I expect a pullback or consolidation in the range 1.12 - 1.114 ( 1.111) and the subsequent retest of the upper boundary of the range with the aim of breaking through and further growth to 1.127 - 1.135. Resistance levels: 1.120 Support levels: 1.114, 1.111 There is a huge pool of liquidity above 1.12, which will not allow buyers to overcome this obstacle so easily. We are waiting for a correction and a further breakdown, which will be followed by growth. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:EURUSD ;) Regards R. Linda!
Long
by RLinda
16
DOGE → Another manipulation or growth? What to expect next?BINANCE:DOGEUSDT in the distribution phase is aiming for a strong resistance at 0.11546. The global and local trend is bearish and there are no hints of breaking it yet. A contrend rally is forming.... On H4, the sideways range plays a relevant role. The last time we tested 0.11546 at the moment of its formation - exactly 1 month ago. There is no potential for breaking the level and further growth on the background of such a strong movement. The most probable scenario in this case is a rebound or a false breakdown, which may lead to a correction. BUT! The structure may be broken if there is no pullback or the coin will start to form consolidation near 0.11546 with further signs of resistance retest and readiness to go higher.... Resistance levels: 0.11546 Support levels: 0.11099, 0.107, 0.103 DOGE does not enjoy any strong interest from traders due to the high level of manipulation by big players. At the moment, on the background of the global bearish trend it is worth looking for strong resistance levels with the purpose of catching bounces Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:DOGEUSDT ;) Regards R. Linda!
Short
by RLinda
9
AUD/USD's Path to 0.70: Bullish Continuation in PlaySince the beginning of August, AUD/USD has started reversing its bearish trend. The rise appears to be forming an ABCD pattern, with the final target potentially around the 0.70 level. After reaching a recent high, this week's correction halted exactly at the confluence of support, defined by a horizontal line and a trendline. Yesterday, the pair quickly rebounded near its previous top, which is clearly a bullish sign Today, we’re seeing a minor pullback, which could present a good buying opportunity. I remain bullish as long as the support holds and am targeting the 0.70 zone.
Long
by Mihai_Iacob
2
$BBIO * BRIDGEBIO PHARMA TC FIB EWP DAILY TF ANALYSISThe chart is suggesting that NASDAQ:BBIO is in the process of a Wave 4 correction, which should push the price lower in the short term. The correction appears to be reaching support levels near $18 or $17, which could be a good area for a reversal. If the correction holds these levels, the next move could be a Wave 5 rally, targeting around $61 and above, based on previous wave structures and Fibonacci extensions. The RSI is not yet in oversold territory, meaning there could still be some downside left in the current corrective wave before a reversal. The technical analysis indicates a temporary pullback in NASDAQ:BBIO stock, but with strong bullish potential in the medium term, aiming for new highs if the correction finds support around the $17-$18 level. The projected Wave 5 could bring significant upside momentum, potentially reaching up to $73.50
NASDAQ:BBIOLong
by Anakyn
Nifty on a record breaking spree approaches another channel top.Nifty again had a breathless run today and closed at 26216 after making a new all time high of 26250. the scope of growing further looks limited but with lot of large caps picking up pace and rotation from mid cap and small cap stocks towards large caps is helping the Nifty move further. FIIs and DIIs are both on a buying again probably indicating a move towards large caps. Heroes of the day today were Maruti Suzuki, Grasim and Tata Motors along with Bajaj Twins, M&M and Shriram Finance. Large cap banks did not much much but are not relenting as well. The parallel Channel indicates the channel top near 26443 with resistances at 26250 and 26338. Supports for Nifty is near 26029. Again the zone between 25865 and 25812 will be the most significant support as this zone contains the mid channel support along with Mother line support. The rally can turn bearish (Looks less likely as of now but you never say never) below 25282. Shadow of the candles look neutral to positive as of now. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
EURO - Price can fall to almost support line of rising channelHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Recently price declined inside falling channel, where it broke $1.1070 level and fell to almost support line. Price turned around and started to grow, and in a short time, it left falling channel and started to grow in rising channel. In this channel, Euro broke $1.1070 level one more time and rose a little more, after which made a correction. After correction, the price bounced up to $1.1160 level and even entered to support area, where some time traded. Then EUR fell back and repeated movement up, breaking $1.1160 level and rose a little more than the support area. Now, I think that the price can rise a little more and then start to decline to $1.1120, breaking the support level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
2
BITCOIN → There's a conglomeration of resistances ahead: 65-69KBINANCE:BTCUSD is forming a bull run amid a 0.5% cut in US interest rates, but investors' fervor may be cooled quickly enough by new economic news. The situation is not as simple as it seems.... It's also the most likely scenario We need to be careful as the price is approaching a conglomeration of strong resistances. Pressure could come from both the 65K area, which is still untested, and the area above - 68K - 69K. Let me remind you that globally bitcoin is in a descending channel. Globally ( D1-W1 ) the asset looks good for continued growth, but locally ( D1-H4-H1 ) I don't see any signs that the market is ready to overcome the resistance zone above. Trades may get nervous ahead of next week's new news: SP PMI, DGP, DGO and Fed chief's speech. If the indicators become sharply unpredictable, all the speculators' bullish fervor may cool down very quickly and in that case we may meet the correction phase amid profit taking.... Resistance levels: 64K, 65K, 68K, 69K Support levels: 62750, 61300, 59400, 57730 Now, above 62750 a consolidation is forming. If the price does head towards 64-65K, we should keep an eye on the global resistance. But, if bears sell the price down and bitcoin consolidates below 62750, then an impulse to the nearest liquidity zones may be formed. Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:BTCUSD ;) Regards R. Linda!
Short
by RLinda
22
Nasdaq Long Memory updated Technical Analysis: The market is currently trading within an ascending channel, characterized by two distinct touches on both the upper resistance and lower support levels. We recently observed a bullish rebound from the 0.236 Fibonacci retracement level, where sell pressure was rejected, allowing buyers to take control. Given this setup, there is a strong likelihood that the market will test the resistance level for a third time, with potential new highs projected between 20,500 and 20,800. Fundamental Analysis: As we enter the fourth quarter, seasonal consumer behavior, particularly driven by the upcoming festive period, is expected to influence the markets. With an uptick in consumer spending, many companies are likely to see a boost in sales, providing a positive backdrop for continued bullish momentum. Another catalyst for this period is yet to emerge but may further support the bullish outlook as we progress through Q4. Current Position: I am currently holding a long position, having identified 19,915 as a key resistance level that has recently been breached. The daily candlestick closed firmly above this level, indicating potential support for the continuation of the bullish trend. This breakout reinforces the case for upward momentum in the near term.
FOREXCOM:NAS100Long
by MrMosako
1
CHR - Breakout will push the price higher#CHR/USDT #Analysis Description --------------------------------------------------------------- + Price is trading inside the channel and waiting to breakout from the channel + This breakout could change the downtrend started in early 2024 + A rejection at the resistance could push the price further down. --------------------------------------------------------------- VectorAlgo Trade Details ------------------------------ Entry Price: 0.21 Stop Loss: 0.1592 ------------------------------ Target 1: 0.2759 Target 2: 0.3481 Target 3: 0.4485 Target 4: 0.7180 ------------------------------ Timeframe: 1W Capital Risk: 1-2% of trading amount Leverage: 5-10x --------------------------------------------------------------- Enhance, Trade, Grow --------------------------------------------------------------- Feel free to share your thoughts and insights. Don't forget to like and follow us for more trading ideas and discussions. Best Regards, VectorAlgo
Long
by VectorAlgo
BTC - Bearish Pressure Ahead!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 As per our latest analysis, BTC has rejected the $50,000 - $52,000 support zone and has been trading higher since then. However... BTC is currently approaching the upper bound of the red channel. Thus, for the bulls to remain in control, a break above the upper red trendline is needed. In this case, a movement towards the $70,000 resistance would be expected. Meanwhile, BTC would be bearish medium-term and can still reject the red trendline for one more leg down. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
1
GOLD - Price can bounce from resistance line of channel to $2580Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 Recently price traded inside flat, where it reached $2530 level and then bounced down to bottom part of flat. Then price rose back, some time traded near $2530 level, and then started to decline to $2472 points. Gold exited from flat and started to grow inside a rising channel, where it soon reached the $2530 level again. Price broke this level and continued to grow until it reached resistance line of channel, after which made a correction. After correction, Gold turned around and rose to resistance line again, but recently it started to decline. I think that XAU can rise resistance line and then start to decline to $2580 support line of a rising channel. If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDShort
by WalterMoon
11