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Parallel Channel

MarketBreakdown | GBPUSD, USDCHF, EURAUD, US100 Here are the updates & outlook for multiple instruments in my watch list. 1️⃣ #GBPUSD daily time frame 🇬🇧🇺🇸 The market keeps correcting on a daily time frame after the pair updated the high. The price is steadily falling within a bullish flag pattern. I think that a bullish breakout of the resistance of the flag and a daily candle close above that can be a strong bullish trend-following signal. 2️⃣ #USDCHF daily time frame 🇺🇸🇨🇭 The market keeps recovering after a massive selloff. The closest resistance that I see on a daily is the confluence zone based on a recently broken horizontal support and a falling trend line. I will look for shorting opportunities from there 3️⃣ #EURAUD daily time frame 🇪🇺🇦🇺 The price successfully violated a major rising trend line and closed below that on a daily. I think that the market has a nice potential to keep going lower. 4️⃣ NASDAQ INDEX #US100 daily time frame The index is trading in a minor bearish trend on a daily. We see a local correctional movement at the moment. I see a strong supply area ahead. It is based on a key horizontal resistance and a falling trend line. I think that we can expect a retracement from that area. Alternatively, its bullish breakout will be a strong bullish signal. Do you agree with my market breakdown? ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
3
BTC trading along downward channels Regardless of whether the retracement from the recent drop has concluded, BTC remains in a daily downtrend, trading along the green channels. The 62k level is the 0.618 retracement from the low, so it's not surprising if we see a reversal here again. While the breakout should have established the 58k zone as a support level, I expect it to eventually break down. The chart clearly shows significant support in the 38-42k range. Although it's less likely that the price will drop below this level, if it happens, we may need to consider revisiting the familiar sub-30k levels.
Short
by jackrabbitrage
Is this what going "parabolic" looks like?Everyone is well aware of the fact that the Fed will soon be cutting interest rates. That's a given. If so, I'll be interested to see just what affect this will have on the market. It's hard to argue that it won't be a positive, but as some would say, there's a reason why the Fed would feel the need to lower rates...a slowing economy! I am not a prognosticator by any stretch, but just a chartist, and as such, it's hard to ignore what is beginning to look like a parabolic feature in the Nasdaq market. How will we know? Once rates are lowered (if and when), we look for either a continuation of the steepest uptrend channel and break of the July high, or down we go with a break of the uptrend channel to support levels.
CME_MINI:NQ2!Long
by EdStewart
1
FILUSDT: Price Ranging Inside the BoxFILUSDT technical analysis update FIL's price has been ranging within a box for the last 825 days, repeatedly testing both the support and resistance levels of the box. Recently, the price touched the box support again and is now slowly bouncing from it. We can expect a bullish move from the current support level. The price could potentially increase by 500%-1000% from the current level, making it a good time to accumulate some FIL. Regards hexa
Long
by HexaTrades
EURO - Price can bounce down from pennant to $1.0840Hi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 A not long time ago price started to grow inside rising channel, where it in a short time rose to $1.0940 level. Also, in channel, price formed two gaps, and when EUR reached $1.0940 level, it started to decline in falling channel. In this channel, price declined until to $1.0800 level and even made fake breakout, after which made upward impulse. As well, price left falling channel, and entered to pennant, where it rose higher than $1.0940 level, breaking it. After this, EUR soon turned around and fell to support line of pennant, breaking resistance level one more time. Now, I think that price can reach resistance line and then bounce down to $1.0840, exiting from pennant. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
3
XRP → The court case is complete. Triangle Resistance Retest...↑BINANCE:XRPUSD is forming a rally from the intermediate bottom area. The reason for this is the end of the litigation between Ripple and SEC. The market has been laying a positive outcome for the past few weeks.... The SEC was demanding $2 billion dollars, but the court reduced their demand by 94%, admitting they lost! This is a positive outcome for Ripple, the industry. Ripple is only fined $125 million instead of $2 billion. The rumors have been around for a while, but the market reacted quite positively, giving an initial boost of 27% Technically, at the moment, all eyes are on the range 0.6378, 0.5663. Emphasis on the resistance breakout. If the bulls can overcome this boundary, it will be a confirmation of the price exit from the global descending triangle, which may affect the formation of a bullish trend, the promising targets of which may be 0.900, 1.300. Resistance levels: 0.6378, 0.7440 Support levels: 0.5663, MA-50 Fundamentally and technically, everything is unfolding with favorable winds for the bulls. It opens the way to the north, but before that, the bulls need to try to overcome the strong resistance. Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:XRPUSD ;) Regards R. Linda!
Long
by RLinda
4
GOLD → Consolidation above global trend supportFX:XAUUSD is trading inside the global range. The focus is on local support and resistance levels. The dollar is temporarily rising, which has an impact on gold, which is globally in a bullish trend. The gold price remains vulnerable despite the US Federal Reserve's dovish stance. The gold price continues to lose ground for the fifth day in a row on Wednesday, approaching a one-week low on the back of a generally stronger US Dollar (USD) and rising US Treasury yields. There are not many key news today, so the general fundamental background and technical component should be evaluated as a priority. Technically, gold is not allowed below 2369 and 2380, forming a correction and a retest of the resistance at 2397-2400. If the bulls are able to break this zone and consolidate above the level, we can get on the train to the north, but an active struggle of differently-minded traders is forming in this zone. The trading range for today is 2420 - 2370 (confirmed by the movement of August 05 - 06). Resistance levels: 2397, 2400, 2420 Support levels: 2380, 2370 If bears hold resistance, price may test the lower boundary of the range. But, a retest and breakdown of 2420 would disrupt the market structure and character and create a fickle mood, within which the bulls may give impetus. Rate, share your opinion and questions, let's discuss what's going on with ★GOLD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
15