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Parallel Channel

EurJpy- Swing idea- Where to sell for 1k+ pips and 1:4 R:R?EUR/JPY traded within a nearly perfect ascending channel from March 2022 to July 2024. This channel, a hallmark of the pair's bullish momentum, was decisively broken to the downside in the beginning of August. After hitting an all-time high of 175 during the summer, the pair reversed sharply, dropping 2,000 pips and breaking below the channel's long-term support. The 155-156 zone has since acted as a strong floor, leading to two significant bounces. However, each reversal has failed to breach the old channel support, now turned resistance. Currently, the pair is in its third bounce from support zone This time, it is likely to form a lower high compared to previous attempt. I’m eyeing a potential sell opportunity near the 162 zone, offering a compelling 1:4 risk-reward ratio and the potential for a move exceeding 1,000 pips, aligning with the broader bearish outlook.
Short
by Mihai_Iacob
EURUSD → False breakout of resistance. DowntrendFX:EURUSD is testing resistance in the downtrend phase. The maneuver ends with a false breakout of resistance at 1.0607 On the daily timeframe the price is squeezed between the strong resistance at 1.06011 and the local support at 1.05. So, if the bears keep the defense below the key resistance, the currency pair will continue to fall in the short term. The target in this case may be the area of 1.05 - 1.044. But, technically, the retest of 1.0607 may provoke a local breakout of the level and the price movement to the channel resistance against which there will also be a high probability of formation of a false breakout. Resistance levels: 1.0607, 1.965, 1.076 Support levels: 1.0448, 1.0331 Emphasis on resistance. Confirmation of the nearest resistance in the form of price consolidation below the level, if retested, could be a good entry zone. But if resistance is broken, the focus will shift to 1.065 - 1.067 Rate, share your opinion and questions, let's discuss what's going on with ★ FX:EURUSD ;) Regards R. Linda!
Short
by RLinda
1
GEN isn't a household name, but it should be - LONG @ 29.82Its trading history goes back to the late 1980s (it was Symantec back then), and that history has been a stellar one as far as my trading system goes. Over 1000 trades with a low max drawdown, an average turnaround time of 11 trading days and an average gain of about 2.5% per trade puts it just outside my top 30 large cap names regarding its composite performance/safety score. Going back to the beginning of the tight upward channel in mid-May, it has produced over a dozen trades. Only one has lasted longer than 3 days before becoming profitable and that one ended up being the most profitable one of the bunch. Per my usual strategy, I'll add to my position at the close on any day it still rates as a “buy” and I will use FPC (first profitable close) to exit any lot on the day it closes at any profit. As always - this is intended as "edutainment" and my perspective on what I am or would be doing, not a recommendation for you to buy or sell. Act accordingly and invest at your own risk. DYOR and only make investments that make good financial sense for you in your current situation.
NASDAQ:GENLong
by redwingcoach
Bitcoin Crash + Largest altcoin analysis requests! (ask me)Write a comment with your altcoin, and I will make an analysis for you in response! Also, please hit boost and follow for more ideas. I start my analysis with Bitcoin. Currently, I expect a drop to 85k. We have a total of 3 unfilled FVGs (fair value gaps) below the current price, and this is a big deal. These gaps pretty much always tend to be filled. These are no gaps that occurred at the start of the uptrend (near 15k in 2022), but almost before the end of the uptrend (85k in 2024). This is a hugeeeee problem, and I assure you that bitcoin will go down sooner rather than later.  Today we also want to look at the RSI indicator. The RSI indicator is important mostly only on the 1m, 1H, 1D, 1W, and 1M charts. Do not use it on, for example, 15m or 2h charts. On the RSI indicator, we can see a bearish divergence because the price is making a higher high while the indicator is making a lower high. That's a huge sign of weakness. Also, let's take a look at the moving averages. This is the daily chart, so let's use 50, 100, and 200. These periods are very popular among huge institutions and hedge funds. They mainly like to use 200 and 20. As we can see, the price is too far away from them, which is a sign that the market is overbought and we should wait for a correction. You want to buy at the support, not when the market has already made the move. Currently I am bearish on Bitcoin. Profit target 1: 92,250, profit target 2: 85,350. Write a comment with your altcoin, and I will make an analysis for you in response. Also, please hit boost and follow for more ideas. Trading is not hard if you have a good coach! This is not a trade setup, as there is no stop-loss or profit target. I share my trades privately. Thank you, and I wish you successful trades!
BITSTAMP:BTCUSDShort
by Xanrox
329
Amd - Retest, Reversal And A +100% Rally!Amd ( NASDAQ:AMD ) will soon retest massive previous support: Click chart above to see the detailed analysis👆🏻 After Amd perfectly retested the upper channel resistance about half a year ago, we saw a beautiful rejection and already a retest of the crucial horizontal support. Now, Amd is once again coming back to retest this support and another bullish reversal is extremely likely. Levels to watch: $130, $260 Keep your long term vision, Philip (BasicTrading)
NASDAQ:AMDLong
by basictradingtv
20
#007 NEW DCA EURGBP SHORT Down Channel ResistanceThe chart shown is on the 4H but it doesn't matter if its on the 1H or 4H. Both time frames show price doing a power move toward the resistance level of the down channel. I have been eyeing on a few pairs that has this down channel thing, one of the other pair is the AUDUSD and GBPUSD, I think. Currently, TP is set at 71cents SGD, or 41.5pips. No I wish, I thought, I hope, I pray. No no no. 0044SGT 13122024 Talk less, even by typing because the more we talk, the more we set ourselves up for failure. 0045SGT 13122024
Short
by ProfessionalDuckHunter
Potential c&h on ETHUSD would have a target around 7kFor now this is just a speculative cup and handle pattern, plenty of them have gotten to this level and even completed the handle with a candle or two above the rimline of the cup and still ended up falling and eventually being nullified, so there’s no absolute guarantee this will play out this way. However, as it seems we may be now entering phase 2 of the bull markets uptrends, It is certainly probable this could very well play out just like this. The channel ether is just now breaking up from that I posted a chart on the other day(which. Will link below) has a big enough breakout target/measured move that it should bring price action up above the rimline of its bigger cup and handle pattern here. We will see soon enough I’m sure. Only thing I see prolonging such an outcome would be some sort of unforeseen black swan. *not financial advice*
COINBASE:ETHUSD
by DrDovetail
Gold is Ready to Fall again!!!Gold ( OANDA:XAUUSD ) started to pump, as I expected in the previous post . Gold is entering the Resistance zone($2,740-$2,708) and Potential Reversal Zone(PRZ) and approaching the Upper line of the Ascending Channel . According to Elliott's wave theory , Gold is completing microwave 5 of the main wave C . Also, Regular Divergence(RD-) between Consecutive Peaks . I expect Gold to fall to at least the Support zone($2,670-$2,653) after breaking the lower line of the ascending channel. ⚠️Note: If Gold breaks the Resistance zone($2,740-$2,708), we can expect more pumps.⚠️ ⚠️Note: Tomorrow's US indices can impact the Gold trend. (Today's US indices were all as Forecasted).⚠️ 🔔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:XAUUSDShort
by pejman_zwin
10
Bitcoin currently in an ascending bull flagI made a rough estimate of where the flag make breakout for where I placed the dotted measured move breakout target line. There’s a chance it could not hit the entire flag tRGET and instead only reach the breakout target of just the channel portion of the flag itself which would be a much lower target. Also always a possibility arising channel breaks to the downside though at the beginning of a parabolic phase during a bull market they usually break upwards. We will see what happens soon enough *not financial advice*
BITSTAMP:BTCUSD
by DrDovetail
ES1! morning analysisBig picture analysis for ES1! Proposed primary wave ((1)) terminating in March 2000, primary wave ((2)) terminating in March 2009 as a zigzag, and primary wave ((3)) terminating in January 2022. Proposed primary wave ((4)) seen as an expanded flat, with wave A terminating in October 2022 and wave B at or near termination now. Wave C would take price below October 2022 low, with parallel channel providing price support above 3000 and wave C terminating near the wave (4) of lesser degree.
CME_MINI:ES1!Short
by discobiscuit
Will Gold also test the next resistance level?It’s been a highly bullish week for OANDA:XAUUSD traders, with prices not only reaching but surpassing all my targets one by one. As I outlined in Monday's outlook, if the bulls manage to break above the 2655–2660 resistance zone, the 2785 level would be exposed, and more importantly, the price would very likely move beyond 2700. Yesterday, that prediction materialized as we saw a decisive break above this critical milestone, with FOREXCOM:XAUUSD reaching the 2718 target—and even surpassing it. Overnight, the price briefly dropped from 2725, touching the newly formed support at 2700 before reversing strongly upward. The overall structure remains extremely bullish, with every dip being bought by traders. This momentum should guide our strategy moving forward, focusing now on the next resistance zone at 2755–2760.
FOREXCOM:XAUUSDLong
by Mihai_Iacob
1
Btc Dominance appears to be getting rejected from channel retestBitcoin dominance chart just recently bounced back up in an attempt to climb back inside the ascending channel it recently broke under and as of now both candles that sent a wick back inside the channel upon the current retest both closed their candle bodies with the channel still as resistance. Since then we are now seeing the current candle appear to head lower again suggesting the bottom trendline of the channel will be confirmed as solidified resistance, in which case price action has a much higher probability at this point of validating the breakdown and dumping to the 53% target. If this occurs we are very likely to see alt season really tart too kick in here soon. *not financial advice*
CRYPTOCAP:BTC.D
by DrDovetail
BITCOIN →The Trend Reversal. The End Of Growth? Or Not!BINANCE:BTCUSDT Still maintains a bullish market structure as evidenced by the local upward channel within the broader consolidation channel. After a strong rally, the price is moving into consolidation. Consolidation is the accumulation of a position. Accordingly, there can be different situations inside such a figure: traps, traps, false breakdowns, unpredictable impulses and so on. And it all has one goal - accumulation. Technically, the bullish market structure is not broken. Globally - flat. Locally - an ascending channel. The risk of breaking the bullish structure will be if the price starts to approach 91K - 85K. Then the question about deeper correction or even reversal will become more serious, but not now. The bulls are actively defending the boundaries of the local ascending channel and it may lead the price to retest 99-102K, but at the moment there are no preconditions for strong growth. The market will need a few days to recover its strength. Just during this period of time, the asset may show further intentions. Resistance levels: 99K, 101.3K, 104K Support levels: 95.9K, 91.6K If the bears hold the defense below 99K and the price starts to fall down, then pay attention to 95.9K. Further fall or consolidation inside the channel will depend on this level. If the bulls will be able to keep the defense inside the channel (above the support), then in the medium term we can count on the continuation of growth.
by MarketAnalyzar
BITCOIN → Trend reversal? The end of growth? Or ...BINANCE:BTCUSD still maintains a bullish market structure as evidenced by the local upward channel within the broader consolidation channel. After a strong rally, the price is moving into consolidation. several possible scenarios regarding current levels and the current situation Consolidation is the accumulation of a position. Accordingly, there can be different situations inside such a figure: traps, traps, false breakdowns, unpredictable impulses and so on. And it all has one goal - accumulation. Technically, the bullish market structure is not broken. Globally - flat. Locally - an ascending channel. The risk of breaking the bullish structure will be if the price starts to approach 91K - 85K. Then the question about deeper correction or even reversal will become more serious, but not now. The bulls are actively defending the boundaries of the local ascending channel and it may lead the price to retest 99-102K, but at the moment there are no preconditions for strong growth. The market will need a few days to recover its strength. Just during this period of time, the asset may show further intentions. Resistance levels: 99K, 101.3K, 104K Support levels: 95.9K, 91.6K If the bears hold the defense below 99K and the price starts to fall down, then pay attention to 95.9K. Further fall or consolidation inside the channel will depend on this level. If the bulls will be able to keep the defense inside the channel (above the support), then in the medium term we can count on the continuation of growth Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:BTCUSDT ;) Regards R. Linda!
Long
by RLinda
3