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Parallel Channel

GOLD → Favorable fundamental background. Will we go to 2450?FX:XAUUSD updates high to 2424 amid favorable news. Buyers are returning with the belief that the dollar will continue to fall on the back of the imminent interest rate cuts. CPI indicates significant easing of inflationary pressures in June. Annual inflation fell to 3%, the lowest rate in a year. This report provides evidence to the Fed that inflation is easing, but most likely it is not enough for them and they will need 1-2 reports confirming the fact that inflation is under control and a move into deflation is forming. Ahead of PPI and traders are focusing on this report as favorable data could reinforce fresh selling in the US Dollar. This, in turn, could trigger a rise in gold prices. But, it is worth considering the unpredictability of the news in your trading. Resistance levels: 2411, 2416, 2424 Support levels: 2396, 2392, 2385 Technically, a small correction is possible after a false breakdown of resistance, which in general may lead to testing the imbalance zone before the next growth, if the fundamental background after PPI is maintained or intensified.... Rate, share your opinion and questions, let's discuss what's going on with gold ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
18
HelenP. I Bitcoin can grow higher than trend line, breaking itHi folks today I'm prepared for you Bitcoin analytics. Some days ago the price reached the trend line and then at once turned around and started to decline inside the downward channel. In the channel, the price soon dropped to the resistance level, which coincided with the resistance zone and broke it, after which some time traded below and then continued to fall inside the channel. After this movement, the price fell to the support line of the channel, but at once rebounded and rose to the trend line, which is the resistance line of the downward channel also, and rebounded from it. Bitcoin declined to the support line, breaking the 57000 support level, which coincided with the support zone, but soon turned around and made impulse up from this line. After this, the price exited from the downward channel broke the support level again, and now trades near this level. So, I expect that BTCUSDT will correct to the support level and then rebound up higher than the trend line, breaking it. After this, the price can continue to move up, therefore I set my goal at 62000 points. If you like my analytics you may support me with your like/comment ❤️
Long
by FirstNameHelen
4
EURO - Price can start decline from resistance line of channelHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Some days ago price entered to rising channel, where it at once broke $1.0710 level and fell to support line. Next, price bounced from this line and soon broke $1.0710 level again and made the first gap, after which continued to rise. Then Euro made correction to support level and then bounced up to $1.0840 level, forming another two gaps. Some time later, price traded near $1.0840 level, and a not long time ago broke it, after which rose to resistance line of channel. But then, EUR at once made correction, so now it trying to back up to resistance line. Possibly, price can reach this line and then bounce down to $1.0820 points, breaking support level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
7
Gold Set for Explosive Breakout! Key Levels & Patterns to Watch!Daily Chart Breakdown Chart Overview: Time Frame: Daily Key Levels: Daily LQZ: 2,450.370 4hr/ LQZ: 2,437.909 1hr TP: 2,419.054 Current Price: 2,410.920 Analysis: Higher Highs (HH) and Higher Lows (HL): The chart indicates a strong uptrend with the formation of higher highs and higher lows. This suggests that the market is in a bullish phase. Flag Pattern: The price action has formed a flag pattern, which is a continuation pattern. The breakout from this pattern could lead to further upward movement. Channels: The price has been moving within an ascending channel, indicating sustained upward momentum. A descending channel breakout in the past led to the current ascending channel, showing a reversal and continuation of the bullish trend. Conclusion: The daily chart shows a strong bullish trend with key levels to watch for potential entries and take-profit targets. The flag pattern and ascending channel support the bullish outlook. 4-Hour Chart Breakdown Chart Overview: Time Frame: 4-Hour Key Levels: Daily LQZ: 2,450.370 4hr/ LQZ: 2,437.909 1hr TP: 2,419.054 Current Price: 2,410.920 Analysis: Flag Pattern: The price action is forming a flag pattern similar to the daily chart. This reinforces the bullish continuation expectation. Channels: Descending Channel: A descending channel was broken, leading to the current ascending channel. Ascending Channels: Multiple ascending channels are observed, indicating strong bullish momentum with higher lows and higher highs. Conclusion: The 4-hour chart aligns with the daily chart, showing strong bullish momentum with clear patterns and channels supporting further upward movement. Watching the key levels mentioned can help identify entry points and targets. 1-Hour Chart Breakdown Chart Overview: Time Frame: 1-Hour Key Levels: Daily LQZ: 2,450.370 4hr/ LQZ: 2,437.909 1hr TP: 2,419.054 Current Price: 2,410.920 Analysis: Flag Pattern: A smaller flag pattern is forming, suggesting a short-term bullish continuation. Channels: Ascending Channel: The price is moving within an ascending channel, showing strong upward momentum. Holding Channels: The price has respected the ascending channels, indicating potential for further upward movement. Conclusion: The 1-hour chart provides a detailed view of the recent price action, confirming the bullish trend seen in higher time frames. The ascending channels and flag pattern suggest continued upward movement with key levels acting as potential targets. Overall Summary The analysis across daily, 4-hour, and 1-hour charts shows a consistent bullish trend with the formation of higher highs and higher lows. Flag patterns and ascending channels indicate strong upward momentum, with key liquidity zones and take-profit targets identified for potential trading opportunities.
OANDA:XAUUSDLong
by Adlercon333
Euro can drop to support level, leaving upward channelHello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price some days ago made impulse up to the resistance line, but soon turned around and dropped to the support level, which coincided with the buyer zone, breaking the 1.0820 level. After this movement, the price rebounded from the buyer zone and tried to grow, but soon turned around and fell back to the buyer zone. Then the price rose to the resistance line, but at once fell back, after which turned around and started to grow inside the upward channel, where it soon broke the resistance line with the 1.0700 level. In the channel, the price made two gaps and also later broke the 1.0820 level, which coincided with the support area. Price some time traded near this level and then rebounded up to the resistance line of the upward channel. At the moment, the Euro continues to trades near this line, so, in my opinion, the price can rebound from the resistance line of the channel and start to decline to the current support level, thereby exiting from the upward channel. For this reason, my TP is 1.0820 support level. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
1
Bitcoin can decline a little more and then start rise in channelHello traders, I want share with you my opinion about Bitcoin. By observing the chart, we can see that the price a not long time ago entered to upward channel, where it at once bounced from the support line and broke the 60500 level, which coincided with the seller zone and continued to move up in the channel. In the channel, the price rose to the resistance line and then made a correction to the support line, after which rebounded and in a short time rose to the resistance line of the channel back. Then BTC turned around and quickly declined to the resistance level, thereby exiting from the upward channel and soon broke the 60500 level also. After this movement, the price dropped lower than the buyer zone, which coincided with the 55300 level, but soon turned around and started to grow inside another upward channel. In this channel, the price soon broke the 55300 level again and then reached the resistance line of the channel, but a few moments ago, BTC turned around and started to fall. At the moment, prices continue to decline in the upward channel, so, in my opinion, Bitcoin can almost fall to the support line of the channel. After this, the price can turn around and start to rise to the resistance level, which coincides with the resistance line of the upward channel. For this case, my TP is 60500 level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
3
$CELH - Celsius Bull Run Starts Again?NASDAQ:CELH Hey everyone! I've identified an ascending channel pattern on the Celsius weekly chart that started in 2022 (see weekly chart below) and has been playing out perfectly since then. When the price reaches the channel's bottom line, it reverses, and a bull run begins again. On the weekly chart, the price holds on the lower line and 100 EMA perfectly and bounces back up. UT Bot indicator gave a buy signal on the daily chart, and I think there is over a 50% profit opportunity. That's why I believe a swing-long trade would be perfect! Weekly chart:
NASDAQ:CELHLong
by cumacevik
5
USDJPY → Interventions + CPI. The market doesn't believe it...FX:USDJPY is coming under bearish attack. Immediately after the US CPI release, the Japanese Central Bank intervened in the FX market to support the yen. Fundamentally this was to be expected. Japan's central bank is not trying very hard to preserve its national currency. In order to invest minimal effort, policymakers took advantage of the US CPI report. The CPI + Interventions tandem led to a 2.7% decline in the currency pair. But, traders are starting to buy back some of the decline. Ahead of PPI, the news could both amplify the fall and smear all the efforts of the BoJ. Technically, I don't think such actions will lead to anything global. The growth could continue. On W1 the nature of the market does not change, all interventions are gradually bought out and the currency pair will continue to update the highs. Resistance levels: 159.6, 160.2, 160.5 Support levels: 157.7 It is possible to buy out and test the imbalance zone before the subsequent decline. A favorable background may be the PPI report, but after the market calms down, traders may return to JPY sell-offs, which may lead to the continuation of USDJPY growth. Regards R. Linda!
Long
by RLinda
5
4 entry-strategies with head & shouldersContrary to popular belief, which considers the head and shoulders pattern to be a reversal pattern, this pattern can also be a powerful continuation pattern!!did you know?? 1-reversal role: in this case, when the neck-line of the head and shoulder breaks, sell and buy signals are issued (see the 2 items on the left in the picture) And an BULLISH trend turns into a BEARISH trend or vice versa!! 2-continuation role: In this case, you should draw a line parallel to the neck-line, on the left shoulder. The break of this line is equivalent to buy or sell signal. In this case, we move in the direction of the trend before the formation of the pattern(see the 2 items on the right in the picture) Important points of the head and shoulders pattern: 1- Before the pattern, an BULLISH or BEARISH trend should be seen. Just extend the neck-line to the left, if it passes through the body of the candles, then there is a PRE-trend. 2- Pay attention to the head and shoulder time-frame. You should consider a time-frame where the distance of the left shoulder from the head in this pattern is 15 to 55 candles!! If you want to learn more, support me on this page! Regarding training, I give examples on analytical posts. Be sure to follow.
Education
by Eldorado_Land
Understanding the US10Y Crab Pattern in 2024 The US10Y refers to the 10-year Treasury bond yield, which is a key indicator of the overall health of the economy and is closely watched by investors. "Analyzing the US10Y trend, a bearish butterfly pattern has emerged at the 1.276 and 1.618 level, indicating a potential bullish trend in 2023. This pattern suggested a reversal in the current market direction, and The US10Y bond market has been exhibiting an intriguing pattern known as the "CRAB PATTERN," with implications for the year 2024. This pattern suggests that the market may experience a period of consolidation before potentially reversing its direction. Additionally, the presence of a parallel channel further supports the notion of a bearish trend, as this technical indicator typically indicates a downward trajectory in the market. Traders and analysts should closely monitor these developments and consider potential strategies to navigate the market amidst this anticipated trend. It is crucial to conduct thorough analysis and consider various factors before making any significant trading decisions in response to the observed pattern and trend.
TVC:US10Y
by SEYED98
3
EURUSD → The morning gap is bought out. The bulls are aggressiveFX:EURUSD opens with a gap down, but buyers are actively buying back the move. The nature of the market is bullish, but at the same time consolidation, as there is strong resistance ahead. The fundamental background is favorable, there is no news today. Last week traders took well the fact of unemployment growth, within the framework of which active buying started. Technically, on H4 a bullish distribution is forming towards 1.085, from which, after the initial testing of the liquidity area, a correction may follow. But in general, I expect the continuation of growth (rebound from 1.0816 or breakdown of 1.085). Resistance levels: 1.0852, 1.091, 1.1 Support levels: 1.0816, 1.078 The nature of the market is changing and the bulls are actively holding key areas. The market is bullish and a breakout of the nearest resistance will favor the continuation of growth. Regards R. Linda!
Long
by RLinda
1
AUDUSD → Price squeezes in front of resistance. A breakout?FX:AUDUSD is forming a strong consolidation on the chart as the price is squeezing to the resistance at 0.67. On the background of weakening DXY, buyers have chances to break the area. There is news ahead and at the moment traders are preparing to break resistance. Favorable news may contribute to the breakout of the strong limit zone and the formation of a distribution towards 0.684. Technically, the chances are high (strong bullish pattern) Traders are waiting for: ADP, Initial Jobless Claims, SP PMI, ISM, FOMC. Quite a busy news day, against which high volatility is expected. After Powell's words yesterday, the situation is neutral, but the dollar is going into correction. Everyone is waiting for the data on the labor market, on which the further situation will depend. Resistance levels: 0.67 Support levels: 0.665, 0.662, 0.6586 Technically, the situation is bullish, the emphasis is towards the resistance breakout. Further everything will depend on the fundamental background. A favorable background for AUD will increase purchases, but a negative background may cause a correction. Regards R. Linda!
Long
by RLinda
3
EURGBP: One More Short 🇪🇺🇬🇧 After our yesterday's profitable short, I see one more selling opportunity on EURGBP. After a strong bearish wave, the pair started to consolidate within a narrow horizontal range on an hourly time frame. The release of morning's UK/EU Fundamentals triggered a bearish reaction causing a breakout of a support of the range. I opened one more short on the pair. Next goal - 0.8415 ❤️Please, support my work with like, thank you!❤️
Short
by VasilyTrader
1
GOLD (XAUUSD): Strong Bullish Signal The recent Powell Speech did not have much impact on the price of 📈Gold. The market is currently showing a strong upward trend, with the price steadily rising within a rising parallel channel. After reaching a support level, the price began consolidating within a narrow range on a 4-hour chart. The pair managed to break and close above a resistance line of a tight accumulation range, showing the strength of buyers and a likely continuation of the bullish trend. The next resistance level to watch for is at 2390.
CAPITALCOM:GOLDLong
by linofx1