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Parallelchannels

Euro can start to decline and exit from wedge patternHello traders, I want share with you my opinion about Euro. Observing the chart, we can see that the price a few moments ago entered to upward channel, where it at once reached the resistance line and then rebounded down to the support line of the channel. Then price rebounded up and in a short time rose to the support level, which coincided with the support area, making the first gap and soon breaking this level. Next, the price quickly rose to the resistance line of the channel, forming a second gap, after which reached the resistance level, which coincided with the seller zone and turned around. Euro exited from the upward channel and started to trades inside the wedge, where it at once declined to support line of this pattern. After this movement, the EUR turned around and made an upward impulse to the resistance line, breaking the 1.0935 resistance level, which coincided with the seller zone. But a not long time ago it turned around and fell back to the support line, where continues to trades near. In my mind, EUR can make small movement up, higher than the resistance level, and then drop, breaking this level and exiting from the wedge. For this case, I set my TP at 1.0840 points. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
Parallel Channel Breakout in VOLTASStock: VOLTAS Current Price: 1560 Chart Pattern: Parallel Channel Breakout Overview VOLTAS has recently demonstrated a technical breakout from a well-defined parallel channel pattern. This breakout is an indication of potential bullish momentum, suggesting that the stock could experience significant upward movement. The breakout occurred at the 1560 level, which serves as a critical point of reference for further trading actions. Trade Setup Breakout Level: 1560 The breakout level represents the point at which the stock price moved above the upper boundary of the parallel channel, signaling a potential trend reversal or continuation in the upward direction. Entry Strategy: Go Long: Enter the trade at or slightly above the breakout level of 1560. This ensures that the breakout is confirmed and the trade is initiated in the direction of the new trend. Target Levels Initial Target: 1625 This target is set based on a conservative estimate of the stock's movement post-breakout. It represents an intermediate price level where profit-taking or partial exits might be considered. Final Target: 1684 The final target is derived from the height of the parallel channel pattern. This level projects the full potential upside based on the channel’s dimensions, assuming the breakout sustains. Risk Management Stop Loss: 1500 A stop loss at 1500 is recommended to manage risk and protect against significant adverse movements. This level is strategically placed below the breakout point to allow some price fluctuation while still maintaining a controlled risk profile. Technical Analysis Pattern Confirmation: The breakout from the parallel channel is a bullish signal, indicating that the stock has moved beyond its previous range of consolidation. This suggests the potential for further upward momentum. Upside Potential: The height of the parallel channel, when projected upward from the breakout level, provides a target range for potential price movement. The final target of 1684 is calculated based on this pattern’s projected extension. Summary Action: Go Long Entry Point: At or above 1560 Stop Loss: 1500 Initial Target: 1625 Final Target: 1684 Additional Notes: Continuously monitor market conditions and stock performance. Adjust stop loss and target levels as needed based on ongoing technical analysis and market developments. Consider using trailing stops to lock in profits as the stock price moves toward the target levels. Disclaimer: This recommendation is based on technical analysis and educational purpose. Always conduct your own research and consider consulting with a financial advisor before making trading decisions.
NSE:VOLTASLong
by TradZoo
EURO - Price can start to decline to $1.0830 support levelHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Some time ago price declined in falling channel, where it fell to support level, after which at once bounced up. Price reached resistance line of channel, and then bounced down lower $1.0830 level, breaking it. But then Euro made a strong upward impulse, thereby breaking $1.0830 and $1.0930 levels, and exiting from falling channel. After this, EUR started to decline another one falling channel, where it soon broke $1.0930 level. Then price traded near this level, but now it trades near resistance line of falling channel. I think that Euro can bounce down from resistance line of channel and fall to $1.0830 support level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
3
EURO - Price can make small movement up and then continue fallHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Recently price started to grow inside rising channel, where it made first gap and then broke $1.0770 level. Next, EUR reached resistance line of channel, formed a second gap, and then made little correction. After this, price made upward impulse, thereby exiting from rising channel and breaking $1.0890 level. But soon, Euro turned around and started to decline inside falling channel, where it soon broke $1.0890 level again. At the moment, price trades near support line of channel, so, in my mind, EUR can make a small move up. Then price can turn around and continue to decline to $1.0755 support area, breaking support level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
GOLD - Price can bounce from resistance line to $2330 levelHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 Some time ago price bounced from $2330 level and little declined, but soon turned around and started to grow in channel. In channel, price at once broke $2330 level and then continued to move up, until it reached $2425 resistance level. Gold little corrected and then in a short time rose to $2483 points, breaking $2425 level and exiting from rising channel. After this movement, price started to decline near resistance line and soon broke $2425 level one more time. Then Gold tried to grow but failed and continued to decline, but now it trades near resistance line again. So, I think price can reach this line and then bounce down to $2330 support level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDShort
by WalterMoon
1
GOLD is Bearish for a whilehello guys. Key Points: - Entry Level for Selling: The suggested entry point for a short position is around $2,395, as indicated on the chart. - Downtrend Channel: The price movement suggests a descending channel, and the recent price action supports this pattern. - Support Level: There's a crucial support level at approximately $2,340, where the price might find some buying interest. - Trendline: A longer-term trendline can be seen providing resistance, which the price has respected recently. Trading Strategy: - Short Position: Enter a short position around $2,395. - Target: Aim for a target of around $2,340, where the next support level is situated. - Stop-Loss: Place a stop-loss slightly above the recent high, around $2,420, to manage risk effectively. Summary: The chart suggests a bearish trend for Gold (XAUUSD) with a potential short-selling opportunity. Traders can look to enter short positions around $2,395, targeting the support level at $2,340, while maintaining a stop-loss at $2,420 to mitigate risk. ___________________________ ✓✓✓ 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
12
BITCOIN - Price can start to decline inside rising channelHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 Some time ago price entered to falling channel, where it bounced up from support line and rose to resistance line. Then price bounced from this line and fell lower than $56700 level, breaking it and exiting from falling channel. After this movement, BTC turned around and started to grow inside rising channel, where soon it broke $56700 level again. Later price made retest and continued to grow to next level, which coincided with one more support area. When BTC reached this level, it broke it and rose to resistance line of channel, where continues to trades near. Now, I think price can start to decline from resistance line to $63800 support level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
7
The last bullish chance of TONCOIN in short-term !!OKX:TONUSDT TON is in an ascending triangle which means the price is about to do a good bullish movement. The price can increase as much as the measured price movement ( AB=CD ) . The break out needed for increasing further has not happened but it should happen pretty soon. ✨Traders, if you liked this idea or have your opinion on it, write in the comments, We will be glad. _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⚠️Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Long
by CobraVanguard
1
GBPCHF | Short D1 | Market Exec | Incoming Risk-OffTechnical Confluences for Trade: - Stochastics are in Overbought Conditions on D1 and H1 time-frames - Stochastics are also Overbought in multiple Cross-CHF pairs and even on USDCHF pair. - Price action is close to a Supply Zone - Price action is close to multiple Resistance Trendlines & top of Parallel Channel as well - Targeting the 38% Fibo retracement for this trade Fundamental Confluences for Trade: - There seems to be some disconnect between asset classes and with everyone already so 'risk-on', the risk-off build up momentum is ripe for the taking. Suggested Trade: Entry @ Area of Interest 1.1570 - 1.1650 SL @ 1.1718 TP 1 @ 1.1425 (Close Half-Position & move SL to Entry level once TP1 is achieved) TP 2 @ 1.1276 Risk-to-Reward @ Approx. 2.60 (Depending on Entry Level) ________________________________ Boosts 🚀, Follows ✌️, Shares 🙌 & Comments ✍️ are much appreciated! If you have any ideas or charts, do share them in the 'Comments' section below and we can discuss our perspectives to improve or strengthen our strategies. If you want something analyzed, do drop me a DM. :D ________________________________ Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks. Any websites / brokers / applications suggested here are also provided as informational purpose only.
Short
by weekendanalyst
2
ADA Swing long idea The ADA (Cardano) long thesis derived from analysis of Fibonacci retracement, with particular emphasis on the golden pocket retracement level. The analysis is complemented by robust backtesting, a key horizontal level which acts as a support zone. The identification of a potential Swing Failure Pattern (SFP) and alignment with a predictive parallel channel acts as technical confluence, reinforces confidence in the long bias. In navigating the upward trajectory, traders should identify and monitor key horizontal levels, which may serve as profit-taking opportunities. Concurrently, the implementation of risk management is imperative to mitigate downside exposure.
Long
by DepecheGST
LINKUSDT | MT Long H4 | Chainlink's Supply-Demand ZonePair: HTX:LINKUSDT Timeframe: H4 - Medium Term (MT) Direction: Long Technical Confluences for Trade: - Price have bounced off 61.8% Fibo retracement levels - Price action is within two different parallel channels; 1 acts as a bottom channel support and the other is within a supply-demand zone channel - Aiming for the 32.8% Fibo Retracement with 23.6% as the TP 1 level Fundamental Confluences for Trade: - Chainlink's progress has been remarkable and their latest application, Transporter allows users to move crypto assets and data across multiple networks. - Further escalation of war risk may see risk assets get affected Suggested Trade: Entry @ Area of Interest 12.90 - 13.50 SL @ 11.59 TP 1 @ 14.48 (Close Half-Position & move SL to Entry level once TP1 is achieved) TP 2 @ 16.03 Risk-to-Reward @ Approx. 2.26 (Depending on Entry Level) May the pips move in our favor! Good luck! :D *This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and am not responsible for any losses derived from it.
Long
by weekendanalyst
AUDCAD | Short H4 | Market Exec | Similar to NZDCADTechnical Confluences for Trade: - Stochastics are in Overbought Conditions on D1, H4 and H1 timeframe - Price action is at a Supply Zone and has another Consolidation Zone nearby it - Price action is at the top of a channel resistance - Targeting the 50% Fibo retracement Fundamental Confluences for Trade: - Same setup as the NZDCAD trade I just posted as well - AUD has a RBA event risk if this trade is taken Suggested Trade: Entry @ Area of Interest 0.9030 - 0.9060 SL @ 0.9093 TP 1 @ 0.8983 (Close Half-Position & move SL to Entry level once TP1 is achieved) TP 2 @ 0.8921 Risk-to-Reward @ Approx. 2.14 (Depending on Entry Level) ________________________________ Boosts 🚀, Follows ✌️, Shares 🙌 & Comments ✍️ are much appreciated! If you have any ideas or charts, do share them in the 'Comments' section below and we can discuss our perspectives to improve or strengthen our strategies. If you want something analyzed, do drop me a DM. :D ________________________________ Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks. Any websites / brokers / applications suggested here are also provided as informational purpose only. ________________________________
Short
by weekendanalyst
2
AUDUSD | Short H4 | Market Exe | Consolidation TradeTechnical Confluences for Trade: - Stochastics are in Overbought Conditions on D1 time-frame - Price action is at a Consolidation Zone - Aiming for the 50% Fibo retracement to TP Fundamental Confluences for Trade: - US yield differential against AUD will support USD - China's economy is still struggling to improve and dampening AUD's growth potential Suggested Trade: Entry @ Area of Interest 0.6550 - 0.6560 SL @ 0.6596 TP 1 @ 0.6505 (Close Half-Position & move SL to Entry level once TP1 is achieved) TP 2 @ 0.6479 Risk-to-Reward @ Approx. 2.10 (Depending on Entry Level) ________________________________ Boosts 🚀, Follows ✌️, Shares 🙌 & Comments ✍️ are much appreciated! If you have any ideas or charts, do share them in the 'Comments' section below and we can discuss our perspectives to improve or strengthen our strategies. If you want something analyzed, do drop me a DM. :D ________________________________ Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks. Any websites / brokers / applications suggested here are also provided as informational purpose only. ________________________________
Short
by weekendanalyst
USDCAD | LT Short D1 | Oil to power CAD StrengthPair: FX:USDCAD Timeframe: D1 - Long Term (LT) Direction: Short Technical Confluences for Trade: - Stochastics are in Overbought Conditions on D1, H4 and H1 time-frames - Price action is at the top-end resistance of a parallel channel - Horizontal trendline looks like a supply zone across few periods - Aiming for the 32.8% Fibo Retracement with 23.6% as the TP 1 level Fundamental Confluences for Trade: - A strong oil story from ongoing geopolitical risks is a strong story for CAD's economy to remain their hold on interest rates while US's reflation story has been priced in by markets - Risk is further war escalation from the Israel-Iran tension which continue the rush to safe-havens like USD or JPY. Suggested Trade: Entry @ Area of Interest 1.3750 - 1.3850 SL @ 1.3898 TP 1 @ 1.3640 (TP Half-Position & move SL to Entry level for B/Even once TP1 is achieved) TP 2 @ 1.3567 Risk-to-Reward @ Approx. 2.08 (Depending on Entry Level) May the pips move in our favor! Good luck! :D *This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and am not responsible for any losses derived from it.
Short
by weekendanalyst
8
AUDUSD | MT Long H4 | Middle of Parallel ChannelPair: FX:AUDUSD Timeframe: H4 - Medium Term (MT) Direction: Long Technical Confluences for Trade: - Stochastics are in Oversold Conditions on D1, H4 and H1 time-frames - Price action is now at the middle of a parallel channel - Price is at 61.8% Fib Extension Level - Aiming for the 50% Fibo Retracement which the horizontal line shows a supply-demand zone. Fundamental Confluences for Trade: - Higher commodity prices is a positive for Australia economy - Further war escalation from the Israel-Iran tension may bring on risk-off moves and affect this trade Suggested Trade: Entry @ Area of Interest 0.6390 - 0.6415 SL @ 0.6351 TP 1 @ 0.6448 (Close Half-Position & move SL to Entry level once TP1 is achieved) TP 2 @ 0.6516 Risk-to-Reward @ Approx. 2.09 (Depending on Entry Level) May the pips move in our favor! Good luck! :D *This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and am not responsible for any losses derived from it.
Long
by weekendanalyst
BTCUSD | MT Long H4 | Continuing The Run-Up?Pair: HTX:BTCUSDT Timeframe: H4 - Medium Term (MT) Direction: Long Technical Confluences for Trade: - Stochastics are in Oversold Conditions on D1 and H1 time-frames - Price action may face resistances from being at the bottom of a parallel channel, there is a support trendline going through and there is a demand zone area as shown with the horizontal trendline - Price is close to 32.8% Fib retracement Level - Targeting to trade this position between the Supply-Demand zones as shown with the Horizontal Trendlines Fundamental Confluences for Trade: - Market stabilization from geopolitcal risks and US's strong economic data is happening and may bring back risk appetite - Fiscal dominance concern on the USD may see people try to buy BTC as a store of value (IMO, still not a store of value but as long as the market feels so, I'll go with it first) - Further war escalation from the Israel-Iran tension may bring on risk-off moves and see the BTC fall Suggested Trade: Entry @ Area of Interest 61,500 - 63,500 SL @ 59,843 TP 1 @ 62,648 (Close Half-Position & move SL to Entry level once TP1 is achieved) TP 2 @ 68,838 Risk-to-Reward @ Approx. 2.20 (Depending on Entry Level) May the pips move in our favor! Good luck! :D *This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and am not responsible for any losses derived from it.
BINANCE:BTCUSDLong
by weekendanalyst