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Parallel Channel

SPY LOVERS, BE READY ! This week, I decided to remove some objects I had in the chart history as references, which we’ve been analyzing, to make some space and clean up the chart a bit. After reaching all-time highs, the price has naturally begun a retracement. But what’s new in technical analysis? Let’s analyze the price together: In this case, I added an ascending channel where the price follows an upward sequence, bouncing between support and resistance. Here’s the million-dollar question: How much further can the price drop? If we look at the chart, I marked a very important line in red or maroon color at $575.12, which aligns with a resistance pivot and two indecisive candlesticks with identical volumetric bodies. Often, indecisive levels are key to how the market makes sudden decisions after an indecisive candle. In this case, if we pay closer attention, the indecisive level marked in maroon color is positioned exactly at the support of the ascending channel. This suggests how far the price might fall, and we could potentially see a rebound. For me, this would be the primary scenario. But... If the price breaks through this level, my second scenario would be a drop to the order block. Since this level has acted as both support and resistance in the past, I can validate it as my secondary inflection zone or "Inflection Block." You might wonder: What on earth is an inflection zone? As I’ve mentioned multiple times and explained in some of my analysis, inflection zones—or points of inflection—represent moments where there’s a significant change in the price’s direction within a trend, whether in a market, an asset, or an economy. On a trading chart, an inflection point is the spot where the chart changes direction or marks an important decision. An inflection zone can also be a historical area on a chart. As we can see, my order block is already being considered an inflection zone because the price has historically made key moves within it. and i called it "Inflection Block" (See the white arrows). Thank you for supporting my analysis. TRADE SAFE Best regards!
AMEX:SPYShort
by RocketMike111
HelenP. I Bitcoin can correct a little and then continue to growHi folks today I'm prepared for you Bitcoin analytics. In the chart, we can see how the price some time traded near support 2, which coincided with the support zone and even entered to this area, where little time traded too and then started to grow inside the upward channel. Soon, BTC broke support 2 again and then reached the resistance line, after which made a correction to trend line and later broke this line and fell to the support line of the channel. A not long time price traded near this line and later rebounded to the trend line, which coincided with support 1 and broke them. Next, the price rose to the resistance line, after which made a correction back, breaking the trend line one more time, but soon BTC turned around and continued to move up between this line. At the moment, price traded below the trend line and I expect that BTCUSDT will fall to the channel's support line and then start to grow to the resistance line, breaking the trend line. For this case, I set my goal at 97500 level. If you like my analytics you may support me with your like/comment ❤️
Long
by FirstNameHelen
15
BITCOIN - Price can grow a little and then fall to support areaHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 Recently price entered to flat, where it declined to support area, which coincided with $67300 level. Then BTC some time traded in support area, after which broke $67300 level and rose to top part of flat. Next, price made correction to $67300 level, after which started to grow inside rising channel, exiting from flat. In channel, BTC rose to $86700 level, broke it, and at once reached resistance line of rising channel. But a not long time ago price turned around and fell to $86700 level, exiting from channel and then it started to grow. Possibly, I think that BTC can little grow and then start to decline to $85100 support area. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
10
A subtle channel breakout most people wont notice on xrpThis channel is a little sneaky as the majority of the key touches on the top trendline happened earl on in the beginning of the channel, the 3rd resistance of the top trendline of the channel is much more visible on the 4hr chart but I wanted to show it on the 1day chart to see the entire channel in the frame more easily. Rising channels breaking upward are always a good sign that we are starting to enter the parabolic phase of a bull market. Already well on its way to reaching this target. *not financial advice*
BITSTAMP:XRPUSD
by DrDovetail
Bitcoin Final 5th waveThe fifth wave of bitcoin is measured at around 80k levels, but based on the channeling method the fourth wave made a "throw-under" which might indicate an extension of fifth wave that could result into a "throw-over" above the upper channel, which measures around 140k , current price action has formed an inverse head and shoulder, a confirmation for bullish sentiments once the neckline is broken and retested properly, a high volume/momentum move for the third wave of fifth wave will be observed that could potentially reach 70k levels then from there make a sideways movement or a sharp correction before proceeding to 80k levels, once Bitcoin reaches an all time high a weekly bearish divergence is going to be formed, once that bearish divergence validates a retracement for wave two of five could happen, or the market might move to 49k or lower if the extended fifth wave would not materialize short selling and taking profits from long positions would be taken on 80k levels.
CRYPTO:BTCUSD
by xTomato
4
SYK pullback to $375MODs 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 or above top of channels (period 100 52 39 & 26) Stochastic Momentum Index (SMI) at overbought level VBSM is spiked positive Price at 1.618 Fibonacci level In at $392 Target is $375 or channel bottom No stop loss. Will close manually.
NYSE:SYKShort
by chancethepug
Alikze »» EDU | Descending channel🔍 Technical analysis: Descending channel - It is moving in a descending channel in the 8H time frame. - At the bottom of the channel, a strong buying pressure candle has been encountered. - Currently, we have to wait for the failure of the supply zone to exit the downward channel. - If the supply zone breaks, it can have the targets of 0.9769 and 1.1719. 💎 Alternative scenario: In addition, if it encounters selling in the middle of the channel and below the supply range, it can retest the bottom of the channel. The first target of the downtrend will be the 0.39 range. »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Best Regards,❤️ Alikze. »»»«««»»»«««»»»«««
Long
by alikze
NAS100 pullback to 20657MODs 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. Bonus if a TTM Squeeze in in play. I hold until target is reached or end of year, when I can book a loss. So... Here's why I'm picking this symbol to do the thing. (buying SQQQ) Price above or near channels (period 100 52 39 & 26) Stochastic Momentum Index (SMI) at overbought level VBSM positive Price at Fibonacci level In at $21145 Target is $100 or channel top bottom NO STOP LOSS. will hold to year end. adding to short position if price reaches 21,900
PEPPERSTONE:NAS100Short
by chancethepug
SPY pullback from $600MODs 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. Buying calls on SPXU Buying Puts on SPY Price at or approaching top of channels (period 100 52 39 & 26) Stochastic Momentum Index (SMI) at overbought level VBSM spiked positive Price near 4.618 Fibonacci level Buying SPXU or SPY puts when SPY tags $600 Target is $587 or channel bottom NO STOP LOSS Will hold to year end or until target reached
AMEX:SPYShort
by chancethepug
2
MBLY pullback to $15MODs 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 above or at top of channels (period 100 52 39 & 26) Stochastic Momentum Index (SMI) at overbought level VBSM extended positive Price at 1.618 Fibonacci level In at $17.45 Target is $15 or channel bottom no stop loss. manual close.
NASDAQ:MBLYShort
by chancethepug
1
Gold can reach resistance level and then continue to declineHello traders, I want share with you my opinion about Gold. Looking at the chart, we can see how the price some time ago traded near the 2735 resistance level, which coincided with the seller zone and then started to grow and rose to 2780 points. Then the price turned around and started to decline inside the downward channel, where it broke at once 2735 level and then fell to the support line. After which it bounced and rose to the resistance line, but soon rolled down and later dropped to the current resistance level, which coincided with the resistance zone. Gold some time traded in the resistance area and then broke the 2590 level, after which fell to the support line of the downward channel. A not long time ago it rebounded from this line and started to grow, and now Gold continues to grow to it current resistance level. In my opinion, the price can reach a resistance level and then turn around and start to decline next in a downward channel. For this case, I set my TP at 2490 points, which coincided with the support line of the channel. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDShort
by LegionQ8
GOLD - Price can bounce up from support line to resistance levelHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 After price started to trades inside rising channel, it at once rose to $2730 level from $2610 level. Then price broke it and some time traded inside resistance area, where it made a gap and later grew to resistance line. Next, price turned around and started to decline inside falling channel, exiting from rising channel. In falling channel, Gold broke $2730 level and some time later reached $2610 level and some time traded near it. Recently price broke it and fell to support line of channel, but a not long time ago it bounced up. So, in my mind, Gold can fall to support line again and then bounce up to $2610 resistance level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDLong
by WalterMoon
5