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Parallel Channel

Amazon.com May Be OverboughtAmazon.com has rebounded from a drop, but some traders may think the e-commerce giant will give back some of its recent gains. The first pattern on today’s chart is the $181.87 level. It was the low immediately before earnings came out and represented the approximate high last week. Has old support become new resistance? Second, Wall Street wasn’t thrilled with the quarterly numbers. (Revenue and guidance were light.) AMZN had its biggest drop since April 2022 as a result. That could make some buyers wait for retests. Next, stochastics are dipping from an overbought condition. Fourth, this month’s low and last week’s high could be mapping out the early stages of a falling channel. Finally, the 8-day exponential moving average (EMA) could be getting stuck below the 21-day EMA. That’s a potentially bearish short-term trend signal. TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. See our Overview for more. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com . Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com . System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors. Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges. TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com for further important information explaining what this means.
NASDAQ:AMZN
by TradeStation
ETH - Follow The Trend!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈ETH has been overall bullish, trading inside the flat rising channel in orange. Moreover, ETH is approaching a massive round number $2500. 🏹 The highlighted blue circle is a strong area to look for buy setups as it is the intersection of the $2500 and lower orange trendline acting as a non-horizontal support. 📚 As per my trading style: As #ETH 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
Long
by TheSignalyst
XAUUSD Teeters on Edge: Multi-Timeframe Wedge & Channel ShowdownDaily Timeframe Analysis- Pattern: Rising Wedge Description: The daily chart shows a rising wedge pattern. This pattern typically suggests a potential bearish reversal, especially if it appears after a prolonged uptrend. The wedge is narrowing as it moves upwards, indicating a possible weakening of bullish momentum. Implication: If the price breaks below the lower trendline of the wedge, it could signal a significant downward move. Conversely, a breakout above the upper trendline might invalidate this bearish pattern, leading to a continuation of the uptrend. 4-Hour Timeframe Analysis- Pattern: Rising Channel within the Wedge Description: The 4-hour chart also reveals a rising channel pattern. This channel aligns with the broader wedge on the daily chart, but it's more refined, offering a closer look at price movement within the larger structure. Implication: The price is near the upper boundary of the channel, indicating a potential reversal point. A break below this channel would likely confirm the bearish scenario from the daily wedge. 1-Hour Timeframe Analysis- Pattern: Descending Channel and Liquidity Zone Description: On the 1-hour chart, there’s a descending channel forming, along with a liquidity zone just below the current price level. This suggests that the market is in a corrective phase after a previous upward move. Implication: This setup suggests two potential outcomes: Bullish Scenario: If the price breaks above the upper boundary of the descending channel, it could signify a resumption of the upward trend, targeting the upper boundary of the rising wedge on the daily chart. Bearish Scenario: If the price fails to break above and instead drops below the liquidity zone, it could trigger a downward move toward the lower boundary of the rising wedge, potentially leading to a breakout. 15-Minute Timeframe Analysis- Pattern: Flat Flag within the Descending Channel Description: The 15-minute chart shows a flat flag pattern forming within the descending channel. This is a continuation pattern, often signaling that the price may continue in the direction of the preceding trend after a brief consolidation. Implication: The immediate direction could be determined by whether the price breaks above or below this flat flag: Bullish Continuation: A breakout above the flag and descending channel could lead to a strong upward movement. Bearish Continuation: A breakdown below the flag would align with a continuation of the downward trend within the descending channel. Key Takeaways and Strategy Multi-Touch Confirmation: The trendlines have been touched multiple times across the timeframes, especially on the daily and 4-hour charts, which strengthens the validity of these patterns​. Liquidity Zone: The 1-hour chart's liquidity zone is a crucial area to watch. A decisive move away from this zone could confirm the next significant price direction​. Entry Types: Given the patterns, traders might consider a risk entry at the current levels within the descending channel on the 1-hour chart, looking for a breakout. Alternatively, waiting for a reduced risk entry after confirmation of a breakout or breakdown could be more prudent​. In summary, the charts present a potential turning point for XAUUSD, with significant implications depending on whether the price breaks out of the descending channel on the 1-hour chart. Monitoring the key levels identified across these timeframes will be essential for making informed trading decisions.
OANDA:XAUUSD
by MommaPreneur
EURO - Price can little fall and then continue rise in channelHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Some days ago price broke $1.0785 level and entered a flat, where it soon made a gap and reached the top part. Next, price turned around and declined to $1.0785 level, after which bounced and started to grow in rising channel. Also, EUR left flat, and in channel, it soon reached $1.0980 level, but at once made correction movement. Then price bounced up from support line of channel, breaking $1.0980 level, and rose almost to resistance line. But price made little correction and now continues to move up inside rising channel, so, I think it can little decline. After this, Euro can turn around and continue to move up to $1.1290 inside rising channel. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
3
TON At A Critical Situation, Long Or Short?Following durov's detention in france, TON expereience a black monday level drop, and now the support line below the parallel channel is being tested. If durov gets a free get out of jail card, we might experience a big comeback from TON. But if that doesn't happen, telegram might get banned in india and then we might see the downfall of TON to 2.7. I think Both Scenarios are highly possible, but my money is on LONG. ---------------------------------------- I'm new to trading and this is not an investment advice! I also must note that I am Almost ALWAYS Wrong!
Long
by theguide5728
IMXUSDT→ Exit from consolidation. One step away from the bullrunBINANCE:IMXUSDT exits the local consolidation and also breaks the resistance of the global trend, which can be regarded as a positive prerequisite for growth. IMX is consolidating above the support at 1.386, formed in June. The area divides the market into 2 parts (long and short). Bulls are actively trying to keep the price above this zone, buyers' target is the area of 2.576. But before the rally MM can form a local long-squeeze, in which a false breakdown is possible (liquidity capture below the level) before further movement. It is also worth paying attention to MA-50, within the framework of the retest the market may test both sma and the previously broken wedge boundary before resuming the rally phase. Support levels: 1.386, MA-50, 1.076 Resistance levels: 1.543, 1.784 Bitcoin is pressuring the market, which is forming a local correction, if the flagship starts moving up, it will strengthen the overall tone in IMX. But, if still bulls hold 1.385-1.400, breaking 1.520 resistance will give another chance for growth. Regards R. Linda!
Long
by RLinda
4
GOLD → The bull market is testing ATH. What to prepare for?FX:XAUUSD consolidates above 2508 and flies to the key resistance - the border of the range. High probability of a false breakdown and correction before the subsequent growth. . The lively price growth is based on the sustained weakness of the U.S. dollar after the “dovish” remarks of U.S. Federal Reserve Chairman Jerome Powell at a symposium in Jackson Hole on Friday: “the Fed's easing cycle will begin in September”. The hedge asset, meanwhile, is also benefiting from escalating geopolitical tensions in the Middle East Focus on US durable goods orders data, which will be released later on Monday. Technically, strong resistance will be difficult to pass the first time around. MM may test the imbalance zone of 2520 - 2510 before returning for another retest of 2531, the target of which could be a breakout and rise to 2550. Resistance levels: 2531, 2550 Support levels: 2515, 2508 The global and local trends are bullish and the overall sentiment is clear. This tone is supported by the fundamental background from last Friday. Technically, the continuation of growth should be considered, as there are no prerequisites for a reversal or change of trend at the moment Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
8
ARB/USDT 15m / D BB & FVG / ELLIOT / LIQUIDATIONS / FIBOAccording to higher timeframes, the market sentiment is bullish. We are moving within an ascending channel with the potential to rise to 0.7416. To increase the probability of this outcome, the price needs to establish itself above the ascending channel. Locally, within the range of the daily breaker block (D BB) and the daily imbalance (D FVG), three potential entry points are visible: 1. Liquidity grab (Sellside liquidity) 2. 0.5 Fibo 3. 0.618 Fibo / bottom of the ascending channel 4. The target is the local high, which is at the midline of the channel. Locally, based on the EFIATR oscillator, volume, and liquidation levels, there is a likelihood of growth. According to Elliott Wave theory, a 5-wave pattern and an ABC correction in the 4th wave are visible, which further increases the probability of upward movement.
Long
by WoWAcEDuDe
3
EurUsd → so bullishhello guys. let's dive into eurusd Breaking the Channel: The price has broken out of a previous channel, which suggests a potential bullish momentum continuation. This breakout is marked as a significant event that has shifted the trend. The Last High Broken: The chart indicates that the last significant high around the $1.1169 level was broken. This breakout above the previous high is a strong bullish signal, suggesting further upward potential. Internal Trendline: There’s an internal trendline within the broader trend that could act as support if the price pulls back. The price might retest this trendline before moving higher. Potential Bullish Move: After breaking the last high, the price may retrace slightly to retest the breakout level or the internal trendline, before continuing its upward move. The next potential target appears to be in the region of $1.1300, where the price may find the next significant resistance. Current Price Action: The price is currently hovering around $1.1166, slightly above the previous resistance, which now acts as support. This area will be critical in determining if the price continues its bullish trajectory or pulls back for a deeper retest. This analysis underscores a bullish outlook for the EUR/USD pair, emphasizing the importance of the broken resistance level and the potential for further gains if the trend continues. Traders should watch for a retest of the breakout level to confirm the strength of the move. ___________________________ ✓✓✓ Always do your research. ❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them. ❤︎ ❤︎ ❤︎And please don't forget to support this idea with your likes and comment
Long
by melikatrader94
1
NZDUSD → Attempt to change the trend amid falling dollarFX:NZDUSD is strengthening from the opening session amid the dollar's return to southward movement. Traders are intensifying USD sell-offs amid expectations of interest rate cuts... Despite the New Zealand Central Bank's interest rate cut, the USD sell-off is more active on the currency pair. The dollar is forming a retest of support, which increases the chances of further decline in the price amid strong sell-offs. The currency pair is testing the resistance at 0.6083, but at the moment there is a high probability of correction to the imbalance zone. The reason is that we approached the zone too quickly, we need to accumulate the pre-breakout potential. But, if the bulls manage to consolidate above the resistance, then the market will move to the realization phase after the trend line breakout. Resistance levels: 0.60828, 0.61475 Support levels: 0.6036 Fundamentally, the environment points to the continuation of growth. Technically, the bulls will have to pass through the trigger at 0.60828 to start the realization phase. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:NZDUSD ;) Regards R. Linda!
Long
by RLinda
2
EURUSD → ATH update, false breakdown, but there are nuances...FX:EURUSD continues to strengthen, updating the December 2023 ATH and forming a false breakout that could form a small correction before a possible rise. . The key level is 1.1123, as well as the high of 1.1173. The struggle for the lower level continues, bears are not letting the price up, expecting to capitalize on the correction before the news. The focus is on Powell's speech, which will take place at 14:00 GMT. His tone, prerequisites and comments could set a strong medium-term backdrop for the markets. Technically, 1.1075 has formed a pool of liquidity that could be of interest to MM. But we need to watch price behavior, a small correction and a retest of resistance or consolidation near the level will be a good signal that the bulls are ready to go higher. Resistance levels: 1.1123, 1.1173 Support levels: 1.1047, 1.1009 The price is currently in the consolidation phase. The correction may start, but if the price turns to retest 1.1123, it is worth considering a breakout strategy and further growth. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:EURUSD ;) Regards R. Linda!
Long
by RLinda
4
$140K USD for Bitcoin in 2025!!! It appears as though Bitcoin is trading in a descending channel, with a potential breakout happen in the near term. BTC has tested the downward sloping resistance of a descending channel pattern multiple times, each time BTC is creating a lower high & a lower low, which is inherently bearish. The williams alligator is also displaying a bullish cross & the bands are widening in an upward direction, which is a bullish indicator. Bullish cross on the KST as well. I have placed upward arrows at each bullish cross in the recent past showing a direct correlation to upward price swings.
COINBASE:BTCUSD
by satoshi123
XAU/USD Strategy: Pattern Recognition and Trade ExecutionComprehensive Market Breakdown for XAU/USD (Gold Spot) Based on Multi-Time Frame Analysis Overview: The analysis of XAU/USD across multiple time frames (15-minute, 30-minute, 1-hour, and 4-hour) indicates a complex market structure with both bullish and bearish signals. This detailed breakdown will provide insights into the current market conditions, key patterns to watch, potential trading strategies, and risk management considerations. 1. 15-Minute Time Frame: Symmetrical Triangle Pattern Pattern Details: Symmetrical Triangle: This pattern is characterized by converging trend lines connecting lower highs and higher lows, indicating indecision in the market. Apex Proximity: The price is nearing the apex of the triangle, suggesting a potential breakout is imminent. Implications: Neutral Bias: The symmetrical triangle does not inherently suggest a bullish or bearish bias but indicates a potential breakout in either direction depending on market sentiment. Volume Confirmation: A breakout with a significant surge in volume will confirm the direction of the move. Trading Strategy: Bullish Breakout: If the price breaks above the upper trendline with strong volume, consider entering long positions targeting previous resistance levels. Bearish Breakout: Conversely, if the price breaks below the lower trendline with increased volume, consider short positions targeting previous support levels. Stop-Loss Placement: Place stops just outside the opposite side of the breakout point to mitigate risks from false breakouts. 2. 30-Minute Time Frame: Mixed Channels (Descending and Ascending) Patterns Observed: Descending Channels: Suggest bearish continuation if in a downtrend or a potential reversal if broken to the upside. Ascending Channels: Suggest bullish continuation if in an uptrend but signal a potential reversal if broken to the downside. Market Implications: Corrective Phase: The presence of both descending and ascending channels indicates the market is in a corrective phase, oscillating between support and resistance levels. Range-Bound Trading: Until a significant breakout occurs, the market is likely to remain range-bound. Trading Strategy: Range Trading: Consider buying at the lower boundaries of the channels and selling at the upper boundaries. Breakout Preparation: Prepare for a potential breakout by setting alerts around key levels (upper and lower boundaries of the channels). Stop-Loss Placement: Place stops just outside the channels to protect against unexpected breakouts. 3. 1-Hour Time Frame: Rising Wedge Pattern Pattern Details: Rising Wedge: This pattern is characterized by higher highs and higher lows within a narrowing upward slope, typically a bearish reversal pattern. Implications: Bearish Reversal: The rising wedge suggests that upward momentum is weakening, and a potential breakdown could follow. Reversal Zone: The price is near the upper boundary of the wedge, which may serve as a reversal zone, especially if a breakout to the downside occurs on high volume. Trading Strategy: Short Entry on Breakdown: Enter short positions if the price breaks below the lower trendline of the wedge with confirming volume. Target Levels: Target the lower boundary of the larger ascending channel or previous support levels as take-profit points. Stop-Loss Placement: Set stops above the most recent high within the wedge to protect against false breakouts. 4. 4-Hour Time Frame: Broader Rising Channel and Nested Patterns Patterns Observed: Broad Rising Channel: Indicates a larger uptrend is intact, providing a bullish bias. Nested Descending Channels: Smaller corrective patterns within the broader uptrend suggest temporary pauses or consolidation phases before potential continuation moves. Key Levels to Watch: Resistance at 2,540: A break above this level would suggest a bullish continuation and potential for new highs. Support at 2,470: A break below this level would indicate a significant shift in market sentiment towards bearishness. Market Implications: Potential Continuation or Reversal: The larger rising channel gives more weight to potential continuation moves, but the presence of smaller corrective patterns within suggests caution. Echo Phase: The nested descending channel could represent an echo phase, a corrective move within the larger uptrend. Trading Strategy: Long Positions on Break Above 2,540: Enter long positions if the price breaks above this resistance level with confirming volume. Short Positions on Break Below 2,470: Consider short positions if the price breaks below this support level with increased volume. Volume Confirmation: Ensure any breakout is confirmed with a surge in volume to avoid false signals. Risk Management: Use wider stops given the higher time frame context to avoid being stopped out by market noise. 5. Synthesis of Multi-Time Frame Analysis: Confluence of Patterns: The alignment of rising wedges, symmetrical triangles, and mixed channels across multiple time frames suggests a market at a critical juncture. The presence of both bullish and bearish signals indicates that the market is poised for a decisive move. Key Takeaways for Traders: Patience and Discipline: Wait for confirmed breakouts with volume before entering trades. Do not rush into trades without sufficient confirmation. Adaptability: Be prepared to adapt strategies based on the direction of the breakout or breakdown. Use alerts and monitor key levels closely. Focus on Higher Time Frame Signals: Higher time frame signals carry more weight and should be given priority when making trading decisions. Risk Management: Employ tight stops and carefully manage position sizes to limit exposure in case of adverse market movements. 6. Final Recommendations: Potential Bullish Scenario: Watch for a break above 2,540 on strong volume across multiple time frames. A confirmed breakout could lead to a bullish continuation towards new highs. Potential Bearish Scenario: Monitor for a breakdown below 2,470, especially if supported by a break of the rising wedge and descending channel patterns. A breakdown here would signal a shift to a bearish trend. By combining these insights with real-time monitoring of market conditions, traders can enhance their decision-making process and capitalize on high-probability trade setups in the XAU/USD market.
OANDA:XAUUSDEducation
by Adlercon333
3
NAS100 D Buy Idea 7/23/24Price has bounced bullish off a weekly bullish channel with a morning star. Looking for price to break previous daily highs around 19,996.6 for the continuation to the upside. BUT, price is hovering very strongly around a Yearly -27 FIB level from 1/1/18-1/1/21. SO, price could very well be making a daily head and shoulders to continue bearish down to previous daily highs of 18.897.4. SO we shall have to wait patiently and see what price wants to do!! **This is for educational purposes only and this is not financial advice because I am not a financial advisor.**
OANDA:NAS100USDLong
by cecedidit
1