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Parallelchannels

EUR/GBP 4-Hour Bearish Continuation Trade PlanEUR/GBP on the 4-hour chart suggests a bearish continuation within a parallel channel. A Fibonacci retracement is drawn from the previous Lower High (LH) to the recent Lower Low (LL), highlighting potential resistance levels. An immediate sell order is placed at 0.8282, with a stop loss positioned above the last LH at 0.83418 to mitigate risk if the trend reverses. The parallel channel, showing consistent Lower Highs (LH) and Lower Lows (LL), reinforces the bearish trend. For profit-taking, the first target (TP1) is set at 0.8222, and the second target (TP2) at 0.8162, aligning with the Fibonacci support levels. This setup confirms a continuation pattern, suggesting further downside within the established channel.
Short
by Naqash16046
Gold can continues to grow inside upward channelHello traders, I want share with you my opinion about Gold. By observing the chart, we can see that the price a few moments ago started to grow inside the upward channel, where it at once rose to the resistance line and then made a correction movement. Next, the price continued to grow and later reached the resistance line of the channel again, which coincided with the current buyer zone, after which rebounded to the support line of the channel. Then Gold rebounded from this line to the resistance line of the upward channel, thereby breaking the 2605 support level, and also later exited from the channel. Price little grew and then started to decline, and in a short time fell to the support level. After this, Gold started to grow inside another upward channel, where it bounced from the support line and rose to the 2730 level. Price long time traded between this level, trying to break it, and later finally broke the 2730 level. After this, Gold rose to almost the resistance line of the channel, but not long time ago turned around and fell to the support area. At the moment, I think that the price can correct to support the line of the channel and then continue to grow inside the channel. For this reason, I set my TP at 2825 points, which coincides with the resistance line of the upward channel. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDLong
by LegionQ8
1
GOLD - Price can rise a little more and then start to fallHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 Some days ago price started to grow inside the rising channel, where it at once fell below $2505 level, but soon rose back. Prie made a retest, after this and continued to grow to resistance line of channel, which coincided with resistance level. After this, Gold turned around and fell to support line, and soon exited from rising channel and declined a little more. Then, price turned around and continued to move up, and later it reached $2685 level, and recently broke it. At the moment, Gold continues tp move up, and I think that price can make grow a little more and then start to fall. Gold will fall to support level, break it, and then continue to decline to $2640 If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDShort
by WalterMoon
6
Bitcoin's Breakout from a Wedge Pattern: Heading Towards $66,000hello guys. let's dive into btc analysis after the previous analysis: Broken wedge pattern: The chart shows a clear breakout from a descending wedge, a bullish reversal signal, indicating a potential trend shift. Upward channel: After the breakout, Bitcoin has been moving within an ascending channel, which provides a strong bullish structure for price movement. Support and resistance levels: Immediate support can be found near $62,000, while the next target on the upside is projected around $66,000. Potential pullback: A minor retracement within the channel might occur, but overall momentum remains bullish as long as Bitcoin stays within the channel. Bullish momentum: With the strong volume and the breakout from the wedge, the next logical resistance area to test is around $66,000 or higher. ___________________________ ✓✓✓ 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
7
Gold can break support level and continue to declineHello traders, I want share with you my opinion about Gold. By observing the chart, we can see that some days ago price rebounded from the support line of the upward channel and rose to the 2550 support level, which soon broke it. After this, the price tried to grow and some time traded higher, after which it made a correction movement to the support line of the channel, which is located inside the support zone. Then price turned around and continued to rise to the current support level, which coincided with one more support zone, and when Gold reached this level, it at once broke it. Next, the price some time traded near this level inside the support area and a not long time ago rose to the resistance line of the upward channel. But soon, Gold rolled down and in a short time declined to support the area, so, I think that Gold can make a move up and then continue to decline next. Also, I expect that XAU will break the support level and fall to the support line of the channel, therefore I set my TP at 2615, which coincides with this line. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDShort
by LegionQ8
2
HDFC - The Controversy UnleashedHere is the HDFC Chart published on July 22nd (inside my article) - "Nifty Analysis - The No-Nonsense "0" Indicator Strategy" Now - compare HDFC's price action on Sep 24th - Precisely following the defined Path in Blue and rising like a Phoenix from the bottom of 1600 levels and breaking the ATH created on Jul 2023 Now by next week - End of September, HDFC would have the a Final Dip to test 1757 levels and then blast beyond the ATH of 1795 lifting Nifty to New Heights and the Target of 26,430 In this entire analysis - we didn't use any Indicators and No "Ifs & Buts". The Top 10 heavy weight constituents of Nifty were decoded, the Nifty's Daily, Weekly, Monthly and Quarterly Charts were analyzed for both Candlestick Patterns and Chart Patterns with Targets. Once Targets were identified - and basis the status of each of the Top 10 heavy weights, the probable timeline required to reach the target was identified 1. From the Index's (Nifty) price action - the future of individual stocks were determined 2. From the Stock's price action - The Nifty's direction was determined Only when both matches - the prediction is accurate - just like how we do Division / Multiplication in Maths to re-confirm our arithmetic We don't depend on ANY NEWS or ANY Expert Opinion or ANY Technical Indicators to guide us. Because, these factors don't handle both Internal and External elements. Either they talk about a Sector but not a stock or they talk about the historical values of a Stock (example: RSI, MACD, EMA, DMA, Bollinger Bands uses historical values of stock). The Indicators become handicapped when it has to consider the outside elements and hence loses it accuracy and value. Learn to Stand on your Own 2 Legs... Ignore the Noise... Don't follow the Wise... Make your Own Spice...
NSE:HDFCBANKLong
by Stocks-n-Trends
GOLD - Price can fall from top part of flat to support areaHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 Some time ago price entered to rising channel, where it at once fell to support line, breaking $2385 level. Soon, price rose higher than $2385 level, breaking it again, and then rose to resistance line of channel, and made a fake breakout. Next, price declined to $2385 level and later bounced up to $2475 level and soon broke it, exiting then from channel too. After this, Gold started to trades inside flat, where it some time traded between top and bottom parts. Now, price trades near top part of flat and I think it can rise a little more and then bounce down to $2465 support area. If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDShort
by WalterMoon
Dalmia Sugars - How to pick the Right Entry Price !!!On Aug 29, there was a Post market News being circulated across all Social Media Channels that the Govt has removed the Cap on sugar Diversion for Ethanol Production. As an instinctive reaction, everyone suggested to start loading Sugar Stocks and it would rally immediately www.moneycontrol.com But in Reality - only on Friday there was a mad rush on market opening which waded-off before close of the day and all Sugar stocks fell from their opening price and from then, most of the sugar stocks continued to fall. This is the Reality of NEWS Based Trading... If the market always reacts in the same direction as mentioned in the NEWS, then the entire world would be filled by Warren Buffets :) One of my friend was seeking advice on Dalmia Sugars - given the mad rush. Here is the detailed analysis..... Not just for Sugar Sector, Not just for Dalmia... This is how every stock needs to be analyzed... 1. On Quarterly chart - the price is travelling within a Life-Long Parallel Channel 2. The price repeatedly formed Rounding Bottom structures (Cup pattern) 3. The Depth of the Cup each time has been -80% from the respective peak levels 4. From Jan 2020 to Apr 2021 - the price had a massive Blast of 1,155% from Rs. 39.75 to Rs. Rs. 499 5. The price is going sideways with minimal dip (an Inverted Head and Shoulders pattern / small Rounding Bottom) from Apr 2021 till date - During this period - the price attempted several times to Break out of the Previous High 500 but though it had 2 instances of breakout, it could not sustain above 500 6. The Current Market is News driven, purely to the Panic sensation of over valuation. Although I don't agree that Market really works on Valuation, the Crooked Media Analysts are constantly feeding Panic to public that Market is due for a Crash / Correction Although I am strong on my view that there will be NO MAJOR CORRECTION atleast until Apr 2028, I don't discount the fact that there will be intermediately Blips - strong blips of 1-2% down or even 3-4% down in a day which will recover soon But NOT all stocks will recover from these Blips. Especially the ones like Dalmia Sugars Because of the following reasons 1. 500 Level has been super strong 2. Stock has already given massive returns and in consolidation mode 3. In the previous 2 instances - the stock always fell down to the previous Rounding Bottom BO zone and also tested the Bottom of the Parallel Channel 4. If the last week's news could not break out of the 499 Resistance, then it won't be easy now. Even if it breaks above 500, there are 2 more resistances 545 and 570 Unless and Until 570 is fully broken out and sustained for 1 full week, the price WILL fall back below 500 anytime soon. All it needs a single day of market volatility - due to some NEWS even if it is NOT related to Sugar sector. If the Small Cap / Mid Cap index falls on a day, then 500 Support would be broken down and then the price would fall all the way down to the previous support level of 202 which is -56% lower than current level When it reaches 202 - it would touch the bottom of the Parallel Channel and bounce back and continue the previous patterns For now, the Risk of Falling based on NEWS is much higher given there are 3 back to back resistances the price has to negotiate (500, 545, 570) in near term Even if the Sector starts a rally, Dalmia sugar might see a drag unless 570 is taken out. So, even if there is a Sugar Rush - better NOT to Rush on Dalmia Sugars. There are other sugar stocks to look into Disclaimer: Stocks-n-Trends is NOT registered with SEBI. We do not provide Buy / Sell recommendations - rather we provide detailed analysis of how to review a chart. We neither follow Fundamentals nor Traditional Technical Analysis which bases its opinion on several Indicators. We follow an Affective Neuroscientific Approach for Market Analysis - the branch of Science that deals with Human Emotions and Reactions based on emotions. Instead of controlling our Psychology, if we understand and be prepared to handle the larger market player's Emotional reactions - we improve our success rate Please consult your Financial Advisors before taking any positions. If you like our detailed analysis, please do rate us with your Likes, Boost and share your comments -Team Stocks-n-Trends
NSE:DALMIASUGShort
by Stocks-n-Trends
$PLTR | Allocation | Buy Limit | Technical Confluences: Price is in Overbought conditions in the Weekly Timeframe (Will take time to play out) Price action bounced off 3 Resistances; Horizontal Trendline, top range of a Parallel Channel and the top of a Supply Zone Fundamental Confluences: PLTR's specialized software platorms that are complex yet scalable in it'sdata handling capabilities gives them their edge Competitors have yet to catch up to NYSE:PLTR 's advancement but competition is starting to build against them from other big tech firms The growth potential in data analytics is massive and it has not include massive global expansion A large portion of their revenue depends on government contracts which is stable but is susceptible to any changes in government and their policies (something to watch for) ----- This counter is a one that I had enter prior to this as shown. The story for NYSE:PLTR in the data analytics field is something that must be held in a long-term portfolio. At the moment, I don't see NYSE:PLTR breaking up above the 3 resistances and am expecting a reversal which I will place Buy Limit orders (as shown) to allocate more into this stock. -----
NYSE:PLTRLong
by weekendanalyst
$PYPL | Allocated & Watchlist | Buy Limit & Buy Stop |Technical Confluences: - Stochastics are in Overbought conditions in the Daily Timeframe - Price is close to the top of the Parallel Channel and is currently in the Interest Zone - Price action bounced off the Mid of the Parallel Channel which strengthens a bullish trend - Fundamental Confluences: - Paypal is considered a market leader in digital payments space due to its extensive network, brand recognition and services - Revenue has been constantly increasing every quarter but lacking in revenue growth - Better EPS, good FCF and reduced operating expenses are good storylines - However, digital payment systems are facing alot of competition these days and Paypal being one of the initial pioneers will definitely need to step up and conquer back this space ----- I have previously allocated into Paypal previously at 58.80 (when it was bouncing off the 78% Fibo retracement line. I am still watching to continue to build up my NASDAQ:PYPL allocation. I will be looking to add more in the higher Buy Limit zone if the price breaks the Parallel Channel and goes above the Interest Zone. I will also look into buying again close to the 61% and 78% Fibo line; assuming price cannot break the parallel channel this round and retrace backs down. Will continue monitoring it. -----
NASDAQ:PYPLLong
by weekendanalyst
EURO - Price can fall from support line of wedge to $1.1000Hi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Some time ago price entered to rising channel, where it at once broke $1.0735 level and some time traded in support zone. Later EUR reached support line of channel and then bounced up to resistance line of channel, breaking $1.0735 level. Also, price made a gap, after this, Euro exited from channel and entered to wedge, where it fell to support line at once. After this, price made upward impulse from support line of wedge, higher than $1.0945 level, breaking it. Price some time traded between this level and a not long time ago bounced up to resistance line of wedge. Now, I think that Euro can rise to resistance line and then bounce down to $1.1000, exiting from wedge pattern. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
$GBPCAD | Watchlist | Sell Limit | Technical Confluences: - Stochastics has entered into Overbought conditions in the Daily and H1 Timeframes - Price looks like it will target the top of the smaller parallel channel; it coincides with the 50% Fibo Extension levels - If the 50% Fibo levels break, we may visit the 61% Fibo Extension level; the next range of Interest Zone and the top of the larger Parallel channel - Gauging the Elliot wave count, GBPCAD is trying to complete Wave 3 move (we will then enter this trade to capture the Wave 4) ----- Will be looking to set some Sell Limit orders in the Sell Limit Zone area and Target the 50 - 61% Fibo Retracement levels -----
Short
by weekendanalyst
How to trade parallel channels? Parallel channels strategyHow to trade parallel channels? Parallel channels trading strategy In trading, a channel is a vital element of technical analysis that traders often and effectively use. Identifying a channel in technical analysis involves constructing support and resistance lines that define the zone within which prices move. Simply put, a price (trend, trading) channel is a combination of at least two lines: a support line and a resistance line. These lines are fundamental to any trading channel, helping traders understand market psychology and price movements. Support Line: This line indicates the price levels where a downtrend may halt due to a concentration of demand. It’s typically the point where the price stops falling and may even bounce back upward. Resistance Line: The opposite situation occurs here. This line shows the price levels where an uptrend is likely to stop or reverse due to a concentration of supply. Channels reflect changes in supply and demand influenced by various fundamental factors. There are different types of channels based on the trend they represent: Upward (Bullish) Channels: Constructed on higher highs and higher lows, indicating a rising market trend. Downward (Bearish) Channels: Built on lower highs and lower lows, indicating a falling market trend. Horizontal (Flat) Channels: Used in markets without a pronounced trend, where prices move sideways within a range. Channels can also be categorized based on their time frame: Long-term Channels: Often used by investors who aim to profit from major market trends. These channels can span weeks, months, or even years, providing a broader perspective on market movements. Short-term Channels: Typically used by day traders or those looking to capitalize on smaller market movements within a shorter time frame, ranging from a few minutes to several days. To build a bullish channel, identify two rising lows and draw a support line through them. Then, draw a parallel resistance line through the intermediate high between these lows. The key rule when constructing a trend channel is that the price should frequently and clearly bounce off the channel boundary, confirming its validity. The more the price bounces off the channel boundary, the more noticeable the channel becomes to other market participants, increasing the likelihood of a breakout. The price may experience a false breakout of the channel boundary. Considering the volatility of popular markets, traders should allow the price some freedom to make a false move and temporarily exit the channel. A false breakout followed by a return to the channel can also be seen as a pattern that confirms the channel’s validity. Why I Prefer Horizontal Channels Over Trend Channels: Subjectivity: Trend channels can be subjective, as different traders may draw them differently, leading to varied interpretations. Price Tests: The price may test the channel lines with near misses or overshoots, which can mislead market participants. Profit Limits: Trading within narrow ranges can limit profit potential, making horizontal channels more reliable in such scenarios. Traders use channels in various strategies to maximize their trading opportunities: Buying at Support and Selling at Resistance: This strategy involves trading based on the expectation that the price will bounce back into the channel, possibly using a median line as an additional guide. Stop Losses : Place stop losses at a reasonable distance behind the channel line to manage risk effectively. Take Profit: Set take profit levels to ensure a favorable risk-to-reward ratio, maximizing potential gains while minimizing losses. Use Channels as One Tool Among Many: While channels are valuable, they should be used alongside other tools and indicators for a well-rounded trading strategy. Aggressive Trading: Some traders may buy or sell during breakouts, but this approach carries higher risks, especially given the prevalence of false breakouts. Most breakouts turn out to be false, with major players taking positions from traders who have placed their stop orders just beyond the level, causing the price to quickly revert. However, if the price breaks through the upper boundary of the channel and holds above it, it may indicate strong bullish sentiment. A strong impulse breaking through the upper boundary at high volumes suggests a bullish market sentiment, and the price’s return to the moving average after breaking upward presents an excellent buying opportunity. Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch! ✅Disclaimer: Please be aware of the risks involved in trading. This idea was made for educational purposes only not for financial Investment Purposes. --- • Look at my ideas about interesting altcoins in the related section down below ↓ • For more ideas please hit "Like" and "Follow"!
Education
by Crypto4light
GOLD → a possible move 14 AUGhello guys. let's analyze Gold. OANDA:XAUUSD FOREXCOM:XAUUSD FX:XAUUSD 1. Price Action & Market Structure: The price is trending upwards within an ascending channel, which has been a key support and resistance guide. There are liquidity zones marked as "hunted," suggesting areas where stop-loss orders may have been triggered, causing a reaction in price. 2. Key Levels: Top of the Channel: The price recently touched the upper boundary of the channel, indicating a potential reversal zone or a point of strong resistance. 2,468 Level: This is a critical level. If the price touches this level again, it could trigger a further downward move towards lower support levels. Support at 2,445.75 : This is the next significant support level if the price fails to hold above the 2,468 mark. 3. Potential Scenarios: Bearish Scenario: If the price touches the 2,468 level and fails to maintain upward momentum, a drop toward the 2,445.75 level is likely. This move could be influenced by the break of the ascending channel and previous liquidity hunts. Bullish Continuation: If the price can regain strength above 2,468 without breaking lower, it could attempt to challenge the top of the channel again. 4. Market Sentiment: The market appears to be in a cautious phase, with the recent touch on the top of the channel suggesting the potential exhaustion of the bullish move. The liquidity hunts could indicate a shift in sentiment if the price fails to push higher. Summary: Current Trend: Upward within an ascending channel. Resistance: Top of the channel and critical level at 2,468. Support: Key support at 2,445.75 if the price breaks down from 2,468. Liquidity Zones: "Hunted" areas indicate possible stop-loss triggering, suggesting potential for reversals. Outlook: Bearish: If 2,468 is touched again and fails to hold, expect a drop towards 2,445.75. Bullish: Price needs to stay above 2,468 to continue towards the upper channel. ___________________________ ✓✓✓ 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
OANDA:XAUUSDShort
by melikatrader94
7
TPL Plastech - There are many a Cups for you to take a Sip :)TPL Plastech - after breaking out of a Beautiful Cup and Handle Pattern above 78 levels, the price started travelling within a Parallel Channel forming repeated Cup structures (Rounding Bottom) Today, the price momentarily broke down below the previous Rounding Bottom BO zone around 106, but took support from the bottom of the Parallel Channel and bounced nicely to end the day around +2.58% and also sustained above the Support line of 107 Today also formed a Harami Cross pattern which is a 2 Candle Bullish Reversal Indicator. Its so reliable because it formed at the intersection of 2 support lines Targets are 140, 150 and new Target based on the new Rounding Bottom pattern is 170. From CMP - we still have another 70% upside left Remember.... Every "Dip" in the price... Forms a "Cup" structure... For you take a relaxing "Sip"... If by 3:15 pm on Friday, the price manages to sustain above 107 then you can Add / Buy Fresh with full Conviction :) Disclaimer: 3+ Years Teaching Experience in Stock Market - Technical Analysis, Behaviour Analysis, Advanced Patterns, Emotional Management, News based Trading... We are NOT SEBI Registered and Our focus is NOT providing Buy/Sell Recommendations/calls. Primary Objective is to provide detailed analysis of how to review a chart, explain multi-timeframe views purely for Educational Purposes. We strongly suggest our followers to "Learn to Ride the Tide irrespective of its Side" *** Important *** Consult your Financial Advisors before taking any positions If you like our detailed analysis, please do rate us with your Likes, Boost and share your comments -Team Stocks-n-Trends
NSE:TPLPLASTEHLong
by Stocks-n-Trends