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Parallel Channel

EURCAD still bearish expectations EURCAD in last week we are have strong bearish trend, technicalls are be strong bearish and one of impacts is come from USD weakened. On 4h TF we can see bearish expanding triangle, bounce from top zone of triangle is start on 26.8 price is fall 200PIPS. Now for new week, next periods, based technically here still strong bearish expecting. Based on price action can see 1.49500 strong zone is breaked on 30.8 Friday, which will use for one more good sign for bearish still to see. TP1: 1.47100 (200) All best, here for comments, stay tuned!
Short
by DepaTrading
SHAK to $100MODs 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 system 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. Price at bottom channels Stochastic Momentum Index (SMI) at oversold level Price at near 50% retracement Fibonacci level In at $94 Target $100 or top of channel
NYSE:SHAKLong
by chancethepug
Time to Sell Gold and Buy Platinum?Platinum is extremely underpriced compared to gold. Gold/Platinum ratio is at all time highs. Price action is currently in ascending channel and retesting the trend line that it held as support for 12 years before finally breaking it in 2020. A gravestone doji candle has printed on the weekly timeframe: The ratio can crash if gold goes up (platinum grows more than gold) as well as if it goes down (platinum drops less than gold). Which means that holding platinum right now is probably safer than holding gold and could potentially be more profitable. Like the idea? Press Boost! Have an opinion? Leave a comment!
TVC:GOLDShort
by function_mechanic
EURO - Price can break support level and fall to $1.0980 pointsHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Some time ago price entered to falling channel, where it at once rose to resistance line and then continued to fall. In a short time, price declined to $1.1135 level, broke it, and then fell to support line, which coincided with $1.1040 level. Next, price bounced and tried to grow, but soon fell to support area, after which continued to move up. EUR rose to resistance level, which coincided with resistance line of channel, and made downward impulse. Price fell lower than $1.1040 level, breaking it and some time traded in support area, but recently EUR broke it again. Now, I think price can make small movement up and then fall to $1.0980 support line of channel, breaking support level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
1
Why Most Traders Fail—and How You Can Succeed!The charts you provided showcase potential scenarios based on different liquidity zones (LQZ) on multiple timeframes, such as 15M, 1H, and 4H. Let's break down the key insights from the images: Key Levels: Weekly Flag Trendline: This yellow trendline represents the long-term trend and acts as a major resistance or support. It’s crucial to monitor price action around this level for significant moves. 4HR LQZ (Liquidity Zone) at 2,532.077: This level signifies an important area of liquidity on the 4-hour chart. It’s a potential reversal point or continuation area depending on how the price interacts with it. 1HR LQZ and 15M LQZ: These shorter timeframe liquidity zones are at 2,482.129 and 2,470.544 respectively. They act as interim targets or bounce zones based on the smaller trend movements. Price Action Context: Wedge Formation: The rising wedge pattern visible in all the charts, combined with slowing momentum near the top, suggests possible bearish pressure. Wedges often lead to sharp breakouts, so a breakout to the downside would align with the wedge structure. Multi-Touch Confirmation: The multiple touches on trendlines, both support and resistance, increase the probability of significant movements. This concept is supported by multi-touch confirmation techniques​. Scenario Planning: Upside Potential: A breakout above the 4HR LQZ suggests further bullish momentum, likely toward higher liquidity zones. This can result in a continuation to the upside, as shown with the green line projection on some charts. Downside Risks: A breakdown below the wedge support and failing to hold the 15M or 1HR LQZ may lead to a bearish move toward the lower liquidity targets. The yellow line projections suggest a pullback to 2,485.055 and potentially lower. The Trinity Rule Approach: Confluence Setup: If price interacts with three major zones (like the 4HR LQZ, wedge support, and Weekly Flag Trendline), we can assess whether these align with other signals. This rule adds extra confirmation for higher-probability setups, as discussed in your document​​. Overall, price action shows a decision point around the wedge and liquidity zones, with strong reactions expected in either direction.
OANDA:XAUUSDEducation
by Adlercon333
ONDO Potential Upside Market Profile Traversal Potential Setup: ONDO finds itself under a 3 day market profile composite (formed by 28-30 Aug). If price can find acceptance above $0.64 CVAL (composite value area low) either by breaking it convincingly OR by spending enough time above it, we may end up with a full composite traversal to the upside CVAH at $0.67. Overall Bias: The high time frame bias is bearish, but that won't affect this small trade. The mid time frame will flip bullish with the mentioned acceptance. And the short term bias is currently bullish. Structure: Market Structure is good. We are currently breaking (to the upside) and retesting the value area high of another 3 day composite.
Long
by razpit
MATIC POLYGON * WEEKLY TF EWP TC FIB ANALYSISThe chart provided is an Elliott Wave analysis applied to the price action of the cryptocurrency MATIC, on the Polygon network, in a weekly time frame: 1. Elliott Wave Structure • The chart shows a corrective pattern (denoted as A-B-C or W-X-Y), which is a retracement in an overall bullish market. • The price action is nearing the end of a corrective wave (Y), with a potential reversal point forming in the orange box. 2. Channels and Trendlines • The price movement is contained within a corrective channel. • The long-term trend is shown by the upward green channel, indicating that after the correction, a return to a bullish movement is expected. 3. Fibonacci Levels • Multiple Fibonacci retracement levels are drawn on the chart to guide potential support and resistance zones. • The 0.5, and 0.618 Fibonacci levels are significant for both resistance and support, with prices currently near the 0.618 level. • The price is also interacting with a pivot zone (shown by the orange labels), and could potentially reach the P level at $0.446 before bouncing. 4. RSI (Relative Strength Index) • The RSI indicator at the bottom shows the market is nearing oversold territory (below 40), indicating that the selling pressure may be exhausting and a bounce could be imminent. 5. Price Target • The a curved arrow at the bottom indicating a bullish reversal potential, suggesting that after this final leg down, the price could shoot back up to the previous highs and beyond. • The upper target for a bullish breakout seems to be around the $2.714 level, based on previous wave (B) highs, with an extension potentially aiming toward the $5 level and beyond. 6. Support Zones • The orange box (around $0.191 to $0.26) represents a critical support area, where a reversal might happen. • If the price fails to hold this zone, the next support level is around $0.0454, which appears to be the ultimate bottom level of the correction. Conclusion: This chart suggests that the current corrective phase is nearing completion, and there is a strong possibility of a bullish reversal from the $0.191-$0.26 support zone. If this area holds, the price is projected to rally upwards, potentially targeting $2.7 and beyond in the next impulsive move.
CRYPTO:MATICUSDLong
by Anakyn
EURO - Price can make small move up and then bounce down in flatHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Recently price traded between $1.1120 level, which coincided with resistance area and later made upward impulse. After this, EUR started to decline inside falling channel, where it fell lower $1.1120 level, breaking it. Next, price exited from channel and started to trades in flat, where it fell to bottom part and even made a fake breakout. Then Euro turned around and in a short time rose to the top part of flat, which coincided with resistance level. But a not long time ago price bounced down and I think that EUR can make a small move up and then fall to $1.1045 level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
13
GOLD → Area of Interest 2475. What's next? 2450 or 2500?FX:XAUUSD is shedding downward on the background of unexpected NFP, which was published on Friday. The dollar is rising, which is generally negative for the metal. But, globally, gold is still strongly bullish.... The first half of the week should be extremely quiet, as important news will not start to arrive until Wednesday. Traders are waiting for CPI, PPI, as well as the Fed meeting scheduled for September 18, where they are expected to make a decision on interest rate cuts. A rate cut makes currencies cheaper, which only increases the interest in gold. Technically, the price of gold can't consolidate above 2500 and is trading below the critical level of 2494, indicating buyer weakness, which goes into the accumulation or waiting phase.... Resistance levels: 2493, 2500 Support levels: 2485, 2475, 2450 Technically, it is worth considering a decline and a retest of 2475, as after the upward rally from below there is a huge pool of liquidity that attracts the market. Further, further scenario will depend on the market reaction to the range support: False breakdown may give a chance for growth to 2500, and breakdown and consolidation below 2475 may provoke longsqueeze to 2450. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDShort
by RLinda
16
Euro will rise almost to resistance line and then continue fallHello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price entered to upward channel, where it at once made a first gap and then broke the 1.0780 level, which coincided with the buyer zone. Then price rose to the resistance line of the channel, making a second gap, after which turned around and in a short time declined to the support level, which coincided with the support line of the channel. After this movement, the Euro rebounded and continued to move up inside the channel, until it reached a resistance level. Price broke this level, which coincided with the seller zone, and then exited from the channel also, but when it reached the resistance line, EUR turned around and started to decline. Soon, the price broke the 1.1135 level and continued to decline, but recently price rose to this level, after which rebounded and continued to fall. Now, I think that the Euro can little rise, maybe almost to the resistance line, and then continue to decline next. For this case, I set my TP at 1.0920 points. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
2
GOLD - Price can leave pennant and fall to $2440Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 Some time ago price entered to falling channel, where it rose to resistance line and then continued to decline. In a short time, price fell to support level, which coincided with support zone and made a fake breakout of this level. Gold exited from channel and later rose to 2478 points, after which made correction and started to grow in pennant. Price rose to $2525 resistance level and some time traded near this level, trying to break it, but failed. After this, XAU fell to support line of pennant and then started to grow, so, I think Gold can little grow. Then price can turn around and start to decline to $2440, thereby exiting from pennant. If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDShort
by WalterMoon
1