Get started

Parallel Channel

NVDA to $170K EOYWith the Magic Linear Regression Channel by @mwrightinc, we built a channel on the daily chart that shows that NVDA looks like it may be beginning a bounce from the channel baseline. Using the Multi-VWAP indicator by @mwrightinc, we can also see that today, NVDA reclaimed the 5 Day anchored volume weighted average price (AVWAP). We can also see that after we lose the bearish data from 5 days ago that we will have a rising 5-Day AVWAP, which, according to Brian Shannon of AlphaTrends, is a MUST before entering into any long positions. NVDA also reclaimed the 50 Day AVWAP. Another very bullish sign. With a second Magic Linear Regression Channel, or by just drawing a trendline from the pivot high close from June 18th, 2023, we can see that $135.58 was broken as support, but yesterday's large bottom wick and today's continued upward momentum suggest that the level may be reclaimed in the very near future. I see two potential scenarios playing out. A bullish one, where NVDA not only reclaims the 135.58 support, but heads back up to the top of the 1 1/2 year-old channel that has been respected at multiple levels. And, a bearish one, where NVDA continues to fall that is indicated by its recent break of a neckline from a double-top. I believe the bullish scenario is more likely, because NVDA has already had a big move down from its earnings, and it actually beat estimates all around. NVDA is a beast, and I'm guessing that it has the potential to reach $170 by the end of the year, if the bullish scenario plays out.
NASDAQ:NVDALong
by mwrightinc
4
The only chance to short gold!As I said in my last article, I planned to buy gold with the 2670-2660 area as support, but gold did not fall back to 2670, not even to 2671, so unfortunately gold did not reach our buying area. Currently, gold has risen to around 2690. Obviously, it is not a good idea to chase gold near this position, and it faces resistance in the 2695-2700 area. I think even if gold breaks through the 2695-2700 resistance area, it will retreat because it needs to accumulate upward momentum. So anyway, I will try to short gold here once. Am I the only one who takes the risk of shorting gold in the entire network? Will you try to short gold in this position area? If you want to learn more detailed trading ideas and get more trading signals, you can choose to join the channel at the bottom of the article to make trading no longer difficult and make making money a pleasure!
OANDA:XAUUSDShort
by Trader_Marvin
#XRP/USDT 12h / Elliott-Fibonacci-Financial ChannelAccording to Elliott Wave theory, the price rose during the impulsive first wave and corrected in the second wave as an ABC zigzag to the 0.382 Fibonacci level. This aligns with Elliott's rules, suggesting that the correction of the fourth wave will likely be at 0.5 - 0.618. Based on the impulse of the first wave, the target for the third wave is 4.25, followed by a correction within the fourth wave. Using Fibonacci projections by shifting the grid from the start of the first wave impulse to the end of the second wave, the target for the third wave aligns with Fibonacci 1.618 (5.82). Without shifting the Fibonacci grid, the target for the third wave at Fibonacci 1.618 is 4.40. To confirm this scenario, the price must break above the peak of the descending financial channel. Successful trades!
Long
by WoWAcEDuDe
S&P500 - The Most Important Channel Breakout!S&P500 ( TVC:SPX ) is retesting a crucial breakout area: Click chart above to see the detailed analysis👆🏻 During 2024, the S&P500 rallied more than 25% after we already saw a very bullish year of 2023. However, momentum is always more likely to continue and since the S&P500 is currently retesting a major breakout level, this bullish momentum could lead to a final breakout. Levels to watch: $6.000 Keep your long term vision, Philip (BasicTrading)
TVC:SPXLong
by basictradingtv
18
LYV spikes to $140, then pulls back to $120MODs 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 plan is very simple. I buy or sell at top & bottom of parallel channels. I confirm when price hits Fibonacci levels. So... Here's why I'm picking this symbol to do the thing. Price above channels (period 100 52 39 & 26) Stochastic Momentum Index (SMI) at overbought level VBSM is spiked positive Price near 4.618 Fibonacci level Calling top around $140 Downside target is $120 or channel bottom manual stop loss
NYSE:LYVShort
by chancethepug
Big pullback coming for DOGE? Or break towards the ATH!Getting a broad pullback in the market today, taking #DOGE close to a tag of the DEMA 20 but still within a rising channel. DOGE pumped 4 times in the 2021 bull phase. Twice it reached a daily RSI over 90. The first time it corrected 53% and consolidated for 2 months. The second time is corrected 65% and consolidated for 2 weeks before peaking for the cycle 1 week later. 3 weeks ago, the daily RSI peaked over 90. Will #DOGEUSDT experience a major correction this time, or is this time different? A break of the rising channel and drop below the $0.40 horizontal support may be a sign that a deeper correction is in store. A correction may be bought quickly in the bullish market. Continuing to rise within the channel may result in a break to new highs and the next pump towards the ATH. Please let me know in the comments what other signs may give us a clue what DOGE's next move will be from this rising channel! I'd love to hear others' thoughts!
Long
by joelsko
1
Gold is Ready to Pump, Ready!?Gold ( OANDA:XAUUSD ) is currently moving in the Resistance zone($2,667-$2,653) and has managed to break the upper line of the Descending Channel . In terms of Elliott wave theory , Gold completed the Double Three Correction waves as I expected , and I am also waiting for the Resistance zone($2,667-$2,653) to break with the break of the upper line of the descending channel . I expect Gold to rise to at least $2,679 after breaking the Resistance zone($2,667-$2,653), and the next target is the width of the descending channel (broken). ⚠️Note: If Gold goes below $2,636, we can expect a further decrease in Gold.⚠️ 🔔Be sure to follow the updated ideas.🔔 Gold Analyze ( XAUUSD ), 1-hour time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
OANDA:XAUUSDLong
by pejman_zwin
5
Bitcoin can rebound down from seller zone to $94K pointsHello traders, I want share with you my opinion about Bitcoin. Observing the chart, we can see how the price a few moments ago started to grow inside the upward channel, where it soon reached the 91500 support level, which coincided with the buyer zone. After this, BTc even rose a little higher than the 91500 level, but soon backed up and some time traded near the buyer zone. Later BTC finally broke the 91500 level and rose to the resistance line of the upward channel, which coincided with the current support level. Price at once turned around and made a correction to support level, after which it turned around and rebounded up. BTC tried to reach the current support level but failed and dropped to the support line of the upward channel, after which it made an upward impulse. After this, the price finally broke the 99500 level and rose to the channel's resistance line. Then the price turned around and dropped to the buyer zone inside the triangle, thereby exiting from the upward channel. But a not long time ago it turned around and made impulse up to seller zone, where it continues to trades to this day. So, I think that Bitcoin can leave the triangle and then rebound down from the seller zone, breaking the support level. For this case, I set my TP at 94000 points. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
6
AMZN pullback to $201 (buying AMZD)MODs 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 plan is very simple. I buy or sell at top & bottom of parallel channels. I confirm when price hits Fibonacci levels. So... Here's why I'm picking this symbol to do the thing. Price above or at top of channels (period 100 52 39 & 26) Stochastic Momentum Index (SMI) at near overbought level VBSM is turning spiked positive Price at or near Fibonacci level Target is $201 or channel bottom Buying NASDAQ:AMZD
NASDAQ:AMZNShort
by chancethepug
SILVER (XAGUSD): Important Breakout & What is Next⚠️SILVER is trading in a bullish trend, moving within an ascending parallel channel on a 4-hour timeframe. The price has broke and closed above an important daily resistance level. This breakout serves as a powerful bullish signal, potentially driving the market significantly higher. It is expected that the price will continue to grow within the limits of the ascending parallel channels. The next resistance level is at 32.00.
TVC:SILVERLong
by linofx1
3
MEME ANALYSIS#MEME Analysis : Channel Following 📊As we can see that #MEME is following ascending channel on daily time frame. Currently the price is trading above its major support zone. Price is moving upwards within a long-term rising channel, recently moving towards its support from its support level. Expect a bullish move in few days.📈 🔖 Current Price: $0.01650 ⏳ Target Price:   $0.01824 ⁉️ What to do? - Keep your eyes on the chart, observe trading volume and stay accustom to market moves.🚀💸 #MEME #Cryptocurrency #ChartPattern #DYOR
Long
by ZEUS_Market_Alerts
Huge Bullish Momentum for VGX Token - Targeting $4!VGX has hit the lower band of its long-term descending channel, signaling a strong support level. With bullish momentum building, the next major leg up could drive the price toward the $4 target. Key indicators are aligning, suggesting this could be the beginning of a powerful upward trend. Support: Lower channel boundary holding firm Resistance Levels: $2.50, $3.00, and $4.00 Strategy: Watch for confirmation of a breakout with strong volume. Are you ready for the next VGX rally? 🚀
CRYPTO:VGXUSDLong
by alih_net
BITCOIN - Price can little correct again and then continue riseHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 Some days ago BTC started to grow inside rising channel, where it at once made correction, breaking $72300 level. Then, the price bounced from the channel's support line, broke the $72300 level again, and continued to move up in channel. Later BTC reached $93000 level, some time traded near in support area, and later broke this level too. Next, price rose to resistance line of channel, after which made correction to support level and then continued to grow. Price rose to $104100 (new ATH), but a not long time ago it made correction to support level and then started to rise. Now, I think that Bitcoin can decline a little and then continue to move up to $107500 in rising channel. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
12
EURO - Price can enter to resistance area and then start to fallHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Recently price declined inside falling channel, where it bounced from $1.0580 level and fell to $1.0460 level. Then price broke this level and fell to $1.0330 points, thereby exiting from channel, but then it made upward impulse. Also, Euro made a first gap, after which started to trades inside flat, where it at once made retest and started to grow. Price rose to $1.0580 level, some time traded near, and then dropped to support level, making a second gap. Next, price in a short time rose back to resistance level, made a fake breakout, and now trades below in flat. Possibly, Euro can enter to resistance area again and then start to decline to $1.0500 If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
2
DOGE → Consolidation ahead of rally to ATH $0.7400BINANCE:DOGEUSDT is taking advantage of the hype moment and is consolidating after a strong rally. The trigger for rally continuation is the area of 0.45 - 0.46. The coin has all chances to reach ATH Despite bitcoin speculation, a 10% drop in bitcoin, the main reason for which is profit-taking, doge continues to consolidate and does not react to the market noise. The big player interested continues to buy in the hope of continued growth. Technically, an ascending triangle is forming on the 4-hour chart and consolidation above MA-50, which indicates a rather strong interest from the buyer Resistance levels: 0.45, 0.463, 0.48 Support levels: 0.422, 0.400 Since the price is still inside the pattern, I don't exclude the possibility of retesting MA-50 or one of the key supports before further growth. But the break of the key resistance will be the reason for further rally towards ATH Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:DOGEUSDT ;) Regards R. Linda!
Long
by RLinda
47
GOLD (XAUUSD): Deep Consolidation & Your Trading Plan Gold is trading in sideways range for more than 2 trading weeks already. The recent high impact fundamental releases, did not manage to violate its weakness. Next week, pay attention to the reaction of the price to the support and resistance of the underlined range. If the price breaks and closes below 2605, it will open a potential for a further bearish continuation to 2565. Bullish breakout of the resistance of the range and a daily candle close above 2666 will confirm the strength of the buyers. The up movement will be expected at least to 2715. The absence of strong fundamental triggers will continue the consolidation. Alternatively, you can trade the market within the range, buying from its support and selling from its resistance. ❤️Please, support my work with like, thank you!❤️
OANDA:XAUUSDShort
by VasilyTrader
1