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Parallel Channel

Altdominance Reversal SoonMany alts are making new ATLs or are at lows against BTC presently. Others dominance has been in a parallel uptrend since breaking and holding above ~4.5% and reaching levels above 10% market dominance for the first time back in 2017. We haven't quite made a 3rd touch to confirm the channel during more recent lows in June of 2023 and again in August this year. Still, the channel and indicators are pointing towards a move back up towards channel top. The question is: Do we move up without touching channel bottom first? Or, will we see a final move back around 8%, making a higher low and touching channel bottom prior to moving up?
CRYPTOCAP:OTHERS.DLong
by dudebruhwhoa
BEARISH PLOTTER READER! (2HR TF)Good Day Traders I wanted to use a higher timeframe, but the two-hour timeframe was more convenient because my bearish plotter is pointing out only the two-hour timeframe from all timeframes. This lets me know BITCOIN will make its way down for a minor trend. I've done some price range measuring. I have two custom gaps left out in the open from all three measurements. This can only work with my bearish plotter. Two red long rectangles are the left opened gaps which price can potentially hit those targets. The green gap is genuine. I drew a parallel trend line starting point from the top of the wick to the last bottom candle wick. I've measured the longest trendline and cloned it which is the most recent white parallel trendline. BITCOIN is behaving as if it wants to keep pushing up. There's no way of telling. It's pushed up in the past on a daily timeframe regardless of stochastic RSI was overbought but don't count on it. Pay attention to the most recent candlestick. The candlestick has almost filled the green gap which my custom MA has predicted an uptrend moving forward but it is just guidance. MY ADR MA, please follow it and see the way it plays out. Summary: Does this mean the price can fall to those 4 prices, it's a possibility, but so far it's touched the most recent green gap. Based on a 2-hour volume, it all makes sense. We have three levels of the highest volume. This is only a two-hour timeframe, it's just guidance by using a strategy. I had to create my own gaps. As I created them; WALA!, look at the first red gap let's see how it plays out, so don't panic. We're in a 3-YEAR BULL RUN.
COINBASE:BTCUSDShort
by The_ForexX_Mindset
11
Bitcoin Bullish count up.If you find this information inspiring/helpful, please consider a boost and follow! Any questions or comments, please leave a comment! Reacting and testing level identified. Bulls need to break this level (63380) and the pivot (65k) as a show of force. Here is my conservative take if an impulse completes. All hinges on 61779 and (1) pivot holding. Possible ZZ completing so looking for a reaction off most likely targets. One reaction is given. Looking for an impulse down. Trade Safe, Trade Clarity.
COINBASE:BTCUSDLong
by CryptoKnee
After upward movement, Gold can correct and then continue riseHello traders, I want share with you my opinion about Gold. Looking at the chart, we can see how the price reached the support level, which coincided with the buyer zone, broke this level, and rose a little more. After this, it turned around and in a short time declined below the 2430 level, breaking it again, but then XAU started to grow inside the upward channel, where it broke this level one more time. Then it made a retest and continued to move up to the resistance line of the channel, which coincided with the current support level and some time traded near. Later it made a correction movement to the support line of the channel, after which made an upward impulse, thereby breaking the 2530 level, which coincided with the support area. Now Gold continues to move up inside the upward channel and I think that it can little correct and then continue to move up to the resistance line of the upward channel. So, that's why I set my TP at 2660 points, which coincided with this line. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDLong
by LegionQ8
4
$JMIA * EWP TC FIB WEEKLY TF ANALYSISThe chart shared shows the historical weekly price action for Jumia Technologies AG ( NYSE:JMIA ) and includes several key Fibonacci retracement levels. Here are a few observations based on the chart: 1. IPO Price Reference: The chart marks Jumia’s IPO price on April 12, 2019, at $18.95, which has since acted as a resistance level. The price is currently significantly below this level, which is generally seen as bearish. 2. Fibonacci Retracement Levels: These retracement levels are visible at key points, such as around $17, $12.5, and $7.8. These are important as they indicate areas where the price may either stall or reverse, as seen by the price bouncing off these levels. 3. Recent Decline: After hitting the 0.5 Fibonacci retracement level near $12.50, the stock has pulled back sharply, breaking below the $7.8 level (0.382 retracement), and is currently trading around $4.67. This is a strong correction after a steep rally in mid-2024. 4. Support Levels: The chart highlights significant support around the $2.35 mark, which is near the 2023 lows. If the price continues to decline, this level could serve as a potential area for a bounce. 5. Trend Analysis: The overall trend since the 2021 peak has been downward, though there have been several rallies within the larger downtrend, one of which occurred in mid-2024. The lower highs and lows indicate that the bearish sentiment remains dominant. Overall, the chart suggests that the stock is in a corrective phase, and attention should be paid to whether it can hold above the next major support levels or continues to fall further. If the stock breaks above key Fibonacci levels, it could signal a reversal, but currently, the bias remains bearish.
NYSE:JMIALong
by Anakyn
GOLD → The shakeup after the rate cuts... What's next?FX:XAUUSD updates high to 2600 and then experiences a shakeout. Traders held the 2550 area and are currently trying to recover losses by testing the upper end of the range.... The Fed announced a 0.5% rate cut, bringing the interest rate to a range of 4.75%-5.0%. Why 0.5 and not 0.25? The Fed chief said that 0.25 poses threats to the economy that can no longer be allowed to... The gold price failed to capitalize on the sharp Fed rate cut, updating the ATH to 2600 the price headed down to the 2560 - 2550 liquidity zones. Traders are waiting for data on jobless claims and existing home sales to assess the state of the economy as a whole, the news may set the course for a correction or strengthen the general background, which will affect further growth Technically, the price approached the resistance rather quickly, which increases the chances of a bounce or a false breakout. The focus is on 2588- 2585. If the bears hold this area, the price may decline to the area of interest before rising. Resistance levels: 2585, 2588, 2600 Support levels: 2566, 2559, 2550 The overall bullish market structure is clearly visible on D1. Traders, after the rate cuts, need to take a breath and wait for additional confirming signs.... For today, the focus is on the trading range indicated on the chart... Rate, share your opinion and questions, let's discuss what's going on with ★ XAUUSD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
37
BUD pulls back to $61MODs 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 top channel Stochastic Momentum Index (SMI) at overbought level TTM Squeeze just turned off TTM Squeeze momentum is at very high level Price at Fibonacci level In at $63.50 Downside target is $61
NYSE:BUDShort
by chancethepug
Bump and Run Pattern with Key Resistance and Pullback Zones!OANDA:XAUUSD Current Price: 2578.715 4H Chart 1 - Consolidation Support & Resistance Zone: • After breaking out of the Consolidation Zone, Gold has reached the All-Time High (ATH) of 2586.013, marking the high of the Lead-In Phase in the Bump and Run pattern. • Consolidation High Line: This line represents the price projection based on the height of the consolidation support and resistance zone. The price may move toward the target of 2594.126. In the Daily chart I published earlier, Gold is also within an ascending channel. Based on this, the price may rise to the upper trendline, which is close to 2600. 2 - Ultimate Level: The price is currently slightly above the Ultimate Level at 2578.125. If the price holds above this level, it is likely to revisit the new resistance at the ATH. Should it break through, the next target would be based on the projection line, with the price likely heading toward 2594. Given the Overbought Zone, a pullback from this level is possible, but if the strong bullish momentum continues, Gold may break through the price target and Overbought Zone. However, once it reaches the Extreme Overbought Zone, we expect significant pullback pressure. 3 - Major Correction: From the Extreme Overbought Zone, we anticipate the price will return to the Ultimate Level at 2578.125. While it may hold here temporarily, it is more likely to break below this level. In that case, the next target will be the Prime Reversal Zone at 2539.630, where the price may consolidate within the Consolidation Zone. 4 - Bump and Run Pattern: Following the Consolidation Phase, the Bump and Run pattern suggests that the price will likely break through the Prime Reversal Zone and approach the Breakout Line. After breaking this line, a throwback to retest the Breakout Line is expected, marking the beginning of the Run Phase. From there, the price could move toward the Major Turning Point. At this level, the price may either consolidate or experience a partial rise. However, the ultimate target is the Low of the Lead-In Phase, with a projected price of 2471, according to the Bump and Run pattern. • Additionally, if the price breaks the key psychological level at 2500, this would signal a bearish shift in the market. Conclusion: Gold is currently in a bullish trend, trading near important levels in the Overbought Zone. While a further rise toward 2617 is possible, a market correction is likely. Watch for a pullback to the Prime Reversal Zone at 2578 or the Breakout Line at 2543. A deeper retracement could target the Major Turning Point at 2500 or the Low of Lead at 2471. If the market holds above 2543, the bullish trend could resume with new highs.
OANDA:XAUUSDShort
by SpicyPips
2
These Market Structures Are Crucial for EveryoneIn this article, we will simplify complex market structures by breaking them down into easy-to-understand patterns. Recognizing market structure can enhance your trading strategy, increase your pattern recognition skills in various market conditions. Let’s dive into some essential chart patterns that every trader should know. Double Bottom / Double Top A double bottom is a bullish reversal pattern that occurs when the price tests a support level twice without breaking lower, indicating strong buying interest. This pattern often suggests that the downtrend is losing momentum and a potential uptrend may follow. Conversely, a double top signals a bearish reversal, formed when the price tests a resistance level twice without breaking through. This pattern indicates selling pressure and suggests that the uptrend may be coming to an end. Bull Flag / Bear Flag A bull flag is a continuation pattern that appears after a strong upward movement. It typically involves a slight consolidation period before the trend resumes, providing a potential entry point for traders looking to capitalize on the ongoing bullish momentum. On the other hand, a bear flag forms during a downtrend, signaling a brief consolidation before the price continues its downward movement. Recognizing these flags can help traders identify potential breakout opportunities. Bull Pennant / Bear Pennant A bull pennant is a continuation pattern that forms after a sharp price increase, followed by a period of consolidation where the price moves within converging trendlines. This pattern often indicates that the upward trend is likely to continue after the breakout. Conversely, a bear pennant forms after a sharp decline, with the price consolidating within converging lines. This pattern suggests that the downtrend may resume after the breakout. Ascending Wedge / Descending Wedge An ascending wedge is a bearish reversal pattern that often forms during a weakening uptrend. It indicates that buying pressure is slowing down, and a reversal may be imminent. Traders should be cautious as this pattern suggests a potential downtrend ahead. In contrast, a descending wedge appears during a downtrend and indicates that selling pressure is weakening. This pattern may signal a bullish reversal, suggesting a possible upward breakout in the near future. Triple Top / Triple Bottom A triple top is a bearish reversal pattern that forms after the price tests a resistance level three times without breaking through, indicating strong selling pressure. This pattern can help traders anticipate a potential downtrend. Conversely, a triple bottom is a bullish reversal pattern where the price tests support three times before breaking higher. This pattern highlights strong buying interest and can signal a significant upward move. Cup and Handle / Inverted Cup and Handle The cup and handle pattern is a bullish continuation pattern resembling a rounded bottom, followed by a small consolidation phase (the handle) before a breakout. This pattern often indicates strong bullish sentiment and can provide a solid entry point. The inverted cup and handle is the bearish counterpart, signaling potential downward movement after a rounded top formation, suggesting that a reversal may occur. Head and Shoulders / Inverted Head and Shoulders The head and shoulders pattern is a classic bearish reversal signal characterized by a peak (head) flanked by two smaller peaks (shoulders). This formation indicates a potential downtrend ahead, helping traders to identify possible selling opportunities. The inverted head and shoulders pattern serves as a bullish reversal indicator, suggesting that an uptrend may follow after the price forms a trough (head) between two smaller troughs (shoulders). Expanding Wedge An expanding wedge is formed when price volatility increases, characterized by higher highs and lower lows. This pattern often indicates market uncertainty and can precede a breakout in either direction . Traders should monitor this pattern closely, as it can signal potential trading opportunities once a breakout occurs. Falling Channel / Rising Channel / Flat Channel A falling channel is defined by a consistent downtrend, with price movement contained within two parallel lines. This pattern often suggests continued bearish sentiment. Conversely, a rising channel indicates an uptrend, with price moving between two upward-sloping parallel lines, signaling bullish momentum. A flat channel represents sideways movement, indicating consolidation with no clear trend direction, often leading to a breakout once the price escapes the channel. P.S. It's essential to remember that market makers, whales, smart investors, and Wall Street are well aware of these structures. Sometimes, these patterns may not work as expected because these entities can manipulate the market to pull money from unsuspecting traders. Therefore, always exercise caution, and continuously practice and hone your trading skills. What are your thoughts on these patterns? Have you encountered any of them in your trading? I’d love to hear your experiences and insights in the comments below! If you found this breakdown helpful, please give it a like and follow for more technical insights. Stay tuned for more content, and feel free to suggest any specific patterns you’d like me to analyze next!
Education
by ArShevelev
5
HelenP. I Euro will enter to resistance zone and then start fallHi folks today I'm prepared for you Bitcoin analytics. If we look at the chart we can see how the price reached the support zone, which coincided with the support level, and tried to break it, but failed and started to decline. Price declined to the trend line, after which started to move up inside the upward channel, where it at once rebounded from the trend line and rose to the resistance line of the channel, breaking the 1.0920 level. Next, the EUR some time traded near the support level and then made impulse up to the resistance line and even rose higher and some time traded then. Also, the price entered to resistance zone, but at once turned around and quickly backed to the upward channel, where it then fell to the trend line, which is the support line of the channel too. Then price broke this line, thereby exiting from the channel and breaking the trend line, after which continued to move up below this line. Just now, the EUR trades near the resistance level, so, in my mind, I think that EURUSD will enter to resistance zone. Then price can turn around and start to decline, therefore I set my goal at 1.1050 points. If you like my analytics you may support me with your like/comment ❤️
Short
by FirstNameHelen
1
GOLD - Price can make small move up and bounce down to $2540Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 Some time ago price moved up inside the rising channel, where it at once fell below $2500 support level, breaking it. Later price grew to resistance line of channel, but then declined back to support line and soon repeated movement up. Gold broke $2500 level and later rose to next support level, and when it reached this level it broke it and exited from flat. Next, price started to trades inside flat, where it rose to top part and after some time traded near it made correction. Recently XAU bounced back and now tried to grow higher and I think it can rise a little more and then bounce down to $2540 If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDShort
by WalterMoon
6
Silver's Breakout Imminent: Fed Rate Cut Sparks MomentumThe Federal Reserve's interest rate cut paves the way for silver's potential breakout. Historically, decreasing interest rates have driven precious metal prices higher. Technically, silver's false breakdown below the channel's lower bound, followed by a potential breakout above the upper bound, suggests a strong move towards the $50 highs. Silver's diverse industrial applications – including electronics, solar panels, medical equipment, and renewable energy technologies – position it for increased demand amid the global shift towards sustainable infrastructure. This potent combination of monetary policy and industrial demand could propel silver's upward momentum.
OANDA:XAGUSDLong
by ttp112358
DODO Secondary trend. 02 09 2024Logarithm. Time frame 3 days (less is not needed). The price is in a horizontal channel, at the support zone, near the capitulation zone and liquid zones, which can give a massive triggering of long stop loss under the channel. A descending wedge (secondary trend) was formed by the decline from 03/13/2024. Its breakthrough is a trend break. The chart shows two average, not maximum targets for breaking the descending wedge (secondary trend) for orientation: 🟢 1) maintaining channel support and not entering the capitulation zone. 🔴 2) entering the capitulation zone. ______________________ The previous idea (wedge and work in the accumulation channel) for this coin and a similar trading situation that was published more than a year ago before the reversal (about +200%) DODO/USDT Secondary trend. Accumulation channel 08 2023 _____________________ The prices are currently acceptable from the standpoint of both the secondary trend and the main one. ⚠️ Due to the rather low liquidity, capitulation zones are extensive on such cryptocurrencies due to price slippage. Remember this and work wisely with the margin, and it is better to work with such cryptocurrencies only on the spot. 🟢 In the long term, this DEX will be heavily pumped up. Now they are pouring in a lot of money. The network has grown by 200% in users in a few months. This is all happening unnoticed against the background of the negative local fall of bitcoin. Linear price chart. Main trend. Time frame 1 week. DODO Main trend 09 2024
by SpartaBTC
7
$META PLATFORMS * EWP TC FIB MONTHLY TF ANALYSISGiven that the stock is near the upper trendline and within Wave V, there could be limited upside left in the current cycle. A few possibilities: 1. Continuation to Upper Resistance: META could continue pushing higher, potentially towards the $676 range (upper channel boundary), but likely face strong resistance. 2. Correction After Wave V: Once Wave V completes, a corrective phase (possibly Wave A) could begin. The correction might test lower Fibonacci levels around 380 USD or even lower, depending on market conditions. 3. Long-term bullish trend: Even if a correction occurs, as long as the price remains within the channel and above the support trendline, the long-term uptrend remains intact. In short, a potential small upside to complete Wave V is possible, followed by a corrective phase. Keep an eye on how the price behaves near key Fibonacci resistance levels.
NASDAQ:METAShort
by Anakyn
Bear Flag w/Confirmed Bearish Break - EGHere I have EUR/GBP on the Daily Chart! Price gave a Bearish Break to the Ascending Channel which confirms we are seeing a Bearish Flag. -The Volume behind the Candle that Broke the Ascending Channel signifies that it was a Strong and Valid Break Being a Continuation Pattern, I suspect we will see Price Retest the Break of the Ascending Channel and continue Downward! -Looking for a retest in the ( .8430 - .8435 ) Indicators: - Price trading Below 200 EMA - RSI Below 50 - BBTrend Printing Strong Red Bars - Volume showing Bears accumulating
Short
by Novi_Fibonacci
GBPUSD → A change of sentiment. What happened?FX:GBPUSD is moving into a flat phase, possibly into counter-trend correction on the background of locally changed sentiment, formed by the fundamental background of Thursday / Friday, the dollar is growing on this background. The currency pair is forming a bull market wave on D1-W1. On D1, a clear transition from bear market to bull market is formed, which is confirmed by the breakdown of the structure and smooth confirmation by the subsequent impulse. The fundamental background is (temporarily) negative, there is no news for the next two days, respectively, the sentiment from last week remains. Technically, the zone of interest for MM is the support from D1 at 1.3044. On H1 we have a strong liquidity zone ahead, which may trigger a primary pullback to the equilibrium zone before a subsequent decline to the key support and liquidity zone. Resistance levels: 1.314, 1.3163 Support levels: 1.3088, 1.3081, 1.3044 Buyers decided to refrain for the time being, shorts on the currency pair are increasing on the background of the dollar growth. Ahead is an important event - CPI, PPI, as well as the Fed rate meeting on September 18. By this time the market may be neutral Rate, share your opinion and questions, let's discuss what's going on with ★ FX:GBPUSD ;) Regards R. Linda!
Short
by RLinda
6
EURCAD → One step away from a rally. High chance to break 1.5100FX:EURCAD exited from the accumulation of the “descending triangle” format, which is a favorable signal for the continuation of the trend. A promising bullish structure is forming on W1. Euro, despite the ECB interest rate cuts, is growing and the growth is mostly related to the dollar, which is falling after Friday's news of PPI and Initial Jobless Claims. Now it is not the fact of the action itself that is being discussed, but how much it will be cut... Technically, the currency pair is consolidating in front of the global resistance at 1.51000. The strong level has been holding the market in the bearish zone for several years, but the fundamental background gives a chance to break and move into the realization and growth phase. Resistance levels: 1.5051, 1.51000 Support levels: 1750238, 1.4935 The primary reaction at 1.505 may end with a rebound, but most likely the bulls will manage to keep the defense above 1.5023 - 1.505, which may have a very favorable impact on the further growth of the trend. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:EURCAD ;) Regards R. Linda!
Long
by RLinda
8