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Parallel Channel

GOLD → Consolidation in correction phase ahead of news...FX:XAUUSD is in correction phase, but before important news a consolidation is formed due to fear and unpredictability factor. Analysts are expecting a decline in inflation, but what will happen in fact? A bull run or a dump? Markets are pricing in an 81% chance of a 0.25% interest rate cut in November. But yesterday's minutes showed that most officials supported an excessive 0.5% rate cut to balance inflation confidence and labor market concerns. Ahead of CPI, Initial Jobless Claims ... If CPI shows stronger data, the question among regulators will be in a different vein of “should we cut 0.25?” which will only reinforce the dollar's rally and markets will continue a solid correction. A larger decline in CPI could revive hopes of an excessive Fed rate cut in November, triggering a correction in the US dollar. Gold could experience a fresh influx of funds..... Resistance levels: 2623, 2627, 2637 Support levels: 2605, 2600, 2585 Technically gold is in correction and the pressure from bears continues. In the mid (short) term, I expect a retest of resistance at 2623 (a false breakdown is possible) followed by a decline to 2600-2585. It is not excluded that the news may have an opposite effect... Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDShort
by RLinda
30
USDCAD → Breakout. One step away from distribution...FX:USDCAD makes an attempt to break through the resistance of the “wedge” consolidation on the background of a growing dollar, the reasons for which are economic data from the USA. NonFarm Payrolls are ahead! On the weekly timeframe, the currency pair is bouncing off the support trendline and heading towards resistance, the pattern as a whole resembles an ascending triangle. But still it is a global sideways range. The movements in it are quite difficult and the price is dragging between the local levels. Ahead is the NFP report, which may become an engine for the price, and based on the assumptions from Wednesday and ADP NonFarm we can assume that on this background the growth of the dollar and the currency pair may continue. Technically, the bulls are trying to hold the defense above the previously broken resistance. The impulse is beginning to form... Resistance levels: 1.358, 1.364 Support levels: 1.353, 1.347 If the bulls keep the price in the new plane (buying zone), the price may reach the nearest targets quite quickly. If the news will be favorable, then in this case a rally to the distant targets may be formed. Unpredictable data will bring the currency pair back to the range and may bring the price down to 1.347 Rate, share your opinion and questions, let's discuss what's going on with ★ FX:USDCAD ;) Regards R. Linda!
Long
by RLinda
8
ETHEREUM → Support breakdown? Zone of interest 1550 ↓BINANCE:ETHUSD continues to give up positions. Buyers do not believe in growth in the near future. Bears are increasing their pressure, which may lead to the breakout of the strong support zone... As seen on W1, the next potential target, in terms of liquidity, could be the 1550 support. Any attempt to buy back the asset on a retest of the support does not result in anything radically bullish. The market will not allow the price to approach the intermediate highs, which indicates the buyer's weakness. On H4 the price is squeezed by local ascending support (bottom of the triangle) and descending conglomerate of moving averages, which clearly dictate the location of strong resistance. In the mid-term, there may be a rebound to the local highs or SMAs before a further decline. Resistance levels: 2471, 2520, SMA Support levels: 2310, 2250, 2111 So far there are no technical or fundamental reasons in favor of the buyer. Seller's pressure may be intensified. The breakout trigger is 2325. The trigger for a pullback is 2475 - 2500. Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:ETHUSD ;) Regards R. Linda!
Short
by RLinda
2
GOLD - Price can turn around and start to fall to support levelHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 A not long time ago price declined to support line and then at once bounced and started to grow near this line. In a short time, price rose to $2625 level, broke it, and later made a retest, after which bounced up to $2665 level. Price some time traded near this level and even broke it, but soon turned around and broke it with support line. Then Gold continued to decline inside falling channel, where it firstly declined to support line and then bounced up. After this, price reached $2665 level, but at once made correction and then backed up, after which fell again. Now it rising, so, I think Gold can enter to resistance area and then bounce down to $2625 support level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDShort
by WalterMoon
6
HelenP. I Gold can fall to trend line and then rebound upHi folks today I'm prepared for you Gold analytics. A few moments ago price rose to support 2, which coincided with the support zone, and then made a correction movement. After this, price started to rise inside the upward channel, where it soon reached support 2, some time traded in the support zone and broke this level. Next, the price rose to the resistance line of the channel, after which made a movement down to support 2 and then tried to grow back. But Gold failed and declined to the trend line again, which is the support line of the channel also. Then the price little grew near this line and then rebounded up to support 1, which coincided with one more support zone. Soon, XAU broke this level too, and even later exited from the channel. Gold some time traded and a not long time ago dropped to the support zone, where it continues to trades to this day. In my opinion, XAUUSD will fall to the trend line one more time and then rebound up. That's why I set my goal at 2680 points. If you like my analytics you may support me with your like/comment ❤️
OANDA:XAUUSDLong
by FirstNameHelen
2
AUDUSD - Follow the Bulls!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈AUDUSD has been overall bullish, trading inside the rising channel in green. Moreover, it is approaching a massive demand zone in blue. 🏹 The highlighted blue circle is a strong area to look for buy setups as it is the intersection of the demand zone and lower green trendline acting as a non-horizontal support. 📚 As per my trading style: As #AUDUSD is around the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
EURUSD → The realization phase isn't over. Emphasis on 1.095 ↓FX:EURUSD breaks the uptrend and prepares to continue falling due to the change of fundamental background, the reasons for which were strong economic data in the US. The price is in the realization phase... The weekly timeframe clearly shows the forming sideways range (consolidation). The market failed to break the resistance of the channel, although a lot of effort was put on it (5 attempts on W1). At the moment the currency pair is testing last week's low, it is also worth noting the fact of weekly candle closing - almost at the low. This is a rather good and promising sign for the continuation of the downward movement. Emphasis on the support at 1.095. Breakdown and consolidation of the price below this area will strengthen the decline to the intermediate bottom... Support levels: 1.095, 1.0892 Resistance levels: 1.100, 1.1011, 1.1047 A pre-breakout consolidation is forming relative to support. Emphasis on the breakdown of the level and further decline to the zones of interest. As an unpredictable scenario we can have in mind a pullback to 1.100 and further decline... Rate, share your opinion and questions, let's discuss what's going on with ★ FX:EURUSD ;) Regards R. Linda!
Short
by RLinda
8
TONUSDT → Bulls dressing up as bears... ↓BINANCE:TONUSDT can't get out of the downtrend, facing a rather strong seller (or lack of buyers, amid fundamental problems). The coin is setting itself up for a further decline.... The trend change started to show back in July, with strong momentum being generated amid strong outflows due to the market crash following bitcoin manipulation. In Agusta, the coin faced another problem - Pavel Durov's court case, which had an extremely negative impact on the system. At the moment, buyers are turning around and have no fundamental and technical strength against the bear. The price is forming a pre-breakdown base relative to the key support at 5.16. A break of this area will open the way to 4.5. Resistance levels: 5.38, 5.44 Support levels: 5.16, 4.7, 4.5 Buyers are trying to hold 5.16, but the pressure of bears, increasing on the background of bitcoin correction, is increasing, the sellers' strength is growing, which provokes the first to leave the game, close or turn around. In the short term, I expect a breakdown of support and decline Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:TONUSDT ;) Regards R. Linda!
Short
by RLinda
2
NVDA: The Next Inflection Point! (D&W charts)Since our last study on NVDA, the price has successfully held above its critical support points, and we now see a good recovery. The “Above the Stomach” pattern that we identified last month has been triggered, and NVDA is now looking for its next resistance levels. The link to our previous analysis is below this post, as usual. Daily Chart (Left): Higher Highs and Higher Lows: The price is forming a series of higher highs and higher lows, which is a classic bullish trend pattern. This suggests strong upward momentum, with buyers stepping in at each retracement. Resistance Level at $131.26: The next key resistance level is $131.26. This price point coincides with a previous peak and also aligns with a broader resistance zone observed on both timeframes (D and W charts). If the bullish momentum continues, the price could retest $131.26, and even if it materializes a pullback to the 21-day EMA wouldn't ruin the bullish sentiment. Weekly Chart (Right): Above the Stomach Pattern: The weekly chart shows a recent bullish reversal pattern known as "Above the Stomach." This pattern, which we deascribed in our previous analysis, suggests a potential shift from bearish to bullish sentiment. Pivot Point at $131.26: The $131.26 area has been highlighted as a pivot point on the weekly timeframe, representing a key decision zone. A successful breakout and close above this level would likely trigger a more significant rally. Ascending Channel: NVDA is trading within an ascending channel, maintaining its bullish trajectory. The lower boundary of the channel has acted as reliable support, suggesting that the long-term trend remains intact as long as the channel is respected. Conclusion: NVDA is showing strong bullish signs, supported by the formation of higher highs and lows on the daily chart and the validation of a bullish reversal pattern on the weekly chart. The main level to watch is $131.26, as a breakout above this point could accelerate the rally. For those seeking a longer-term perspective, maintaining the trend within the ascending channel is crucial. If $131.26 is broken, the next potential target could be the ATH.
NASDAQ:NVDA
by Nathan_The_Finance_Hydra
10Y bonds seeking support from April-July channelFrom April to July the 10 year Treasury yield was in a downward channel. It broke below that, retested the resistance-now-support for bonds, and kept moving until it recently re-entered. The fundamentals for long bonds still seem strong, with the cutting cycle starting with an abrupt 50bp cut, but bonds seem to be seeking support. If yields break above this channel, then we may be seeing something unexpected sniffed out by the bond market. If we retest and continue the downtrend in yields, then expect a nice downtrend back to the post-2008 norm.
TVC:US10YLong
by ijustwanttomakeatrendline
$RIOT * WEEKLY TF EWP FIB TC ANALYSIS Let’s break down the potential Elliott Wave scenarios that may unfold, along with alternative possibilities. I’ll review the key details of the chart I provided: Primary Scenario: Completion of Corrective Wave Wave Count: • It appears that RIOT has completed a large corrective (A)-(B)-(C) wave. • The (A) wave bottomed around early 2020, and the (B) wave rallied to an extreme high around mid-2021. • The ongoing (C) wave has been pushing lower and is now potentially near completion, suggesting that the bottom could be forming soon. Key Fibonacci Levels: • The price is close to the 0.618 Fibonacci retracement level, which typically acts as a major reversal zone in corrective waves. • There’s also a Fibonacci cluster indicating confluence between the 0.618 and 0.786 retracement zones around $6-$7. This increases the likelihood of a reversal if the price holds at this level. Confirmation of Trend Reversal: • For this scenario to play out, we would expect a five-wave impulsive structure upward to begin. This would be Wave 1 of a new bullish cycle. The key confirmation would come if RIOT breaks above the downward channel resistance with strong volume and follows through with higher highs and higher lows. Alternative Scenario: Extended Correction (Complex Correction) Possibility of an (X) Wave or Further Downside: • In some cases, after an (A)-(B)-(C) correction, a complex structure could unfold, resulting in an (X) wave and then another corrective pattern (Y). • This would imply that RIOT could consolidate further or possibly make another low before finally reversing. The chart does suggest this possibility due to the large downward channel still being intact. Deeper Fibonacci Levels: • If the price fails to hold around the current levels, the next key Fibonacci level around the 0.786 retracement (around $3.25-$4.00) could be targeted. This might be the level where the final capitulation occurs before a reversal. Wave Count Indicators: • Wave 1 Upward: If the bottom is in, we could see the start of a wave 1 upwards, which should follow an impulsive five-wave structure. This would be a strong indicator that the correction has ended. • RSI: A bullish divergence on the RSI, where the price makes lower lows but the RSI makes higher lows, would be a strong confirmation of a reversal. Keep an eye on this divergence in shorter time frames (e.g., weekly or daily charts). • Break of Downward Channel: Watch for a break of the upper boundary of the downward channel. This break should be accompanied by a surge in volume and a higher low formation, marking the shift in trend. Conclusion: The primary wave count suggests the potential for a bottom forming, particularly around the current support zones near $6-$7. However, in the alternative scenario, a more complex correction could push the price lower to retest the next Fibonacci level, possibly in the $3.25-$4.00 range. Confirmation of a new bullish wave will require a strong impulsive move upward, breaking the channel and solidifying the new trend.
NASDAQ:RIOTLong
by Anakyn
3
$BTC Ascending Channel - ATH Push Soon?Happy Sunday All, On a few different time frames we can see that a bullish ascending channel has been forming for BTC-- I suspect that if this weekend closes strong, we can see a retest of $64,000 USD for BTC sometime early next week! $66-68k is the real test, I've marked the top line of the now-6-month consolidation period with the 'bulls on parade' note. If we can get above *and sustain momentum above* that line, you are going to need to buckle in! The unemployment numbers came in shockingly low, as the US Jobs expectation was 108k higher than projected. This just might be enough wind in the sails to carry all markets higher. Higher Lows have been formed and currently the RSI levels are healthy, I'm getting bullish folks! What do you think? Bull trap? $250k next? Drop a comment
BITSTAMP:BTCUSDLong
by httpz