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Ascending Channel

🥇 GOLD - Retest of resistance before further decline Gold has been strengthening all last week and today, Monday, it reaches a strong resistance where the correction phase may find its end. Globally, earlier, we saw a change of trend and at the moment the market is starting to look for a change of sentiment towards selling. Consolidation below 2035-2031 will form a bearish potential Reasons for further decline: 1) False breakout of the structure 2) Retest confirms the setup 3) False breakout setup ends the correction 4) Consolidation below the maximum volume zone 5) Market target - liquidity area 2015
OANDA:XAUUSDShort
by AndeWave
1
Bitcoin 14% crash to 44k is starting (levels)Technical analysis Bitcoin has pumped significantly in the past few weeks, but nothing lasts forever, and markets always move in waves. I am expecting a 14% crash to 44k in the next few weeks. Why? We can see that the price is now below the ascending parallel channel, which is a sign of weakness. Also, as per my Elliott Wave analysis, we have finished the 5th wave of an impulse wave. What usually follows is an ABC correction or a WXYXZ complex correction. On the chart, you can see my levels, which you can use as support or resistance (profit target or entry point). These levels are very strong, and the market should react to them. Usually Bitcoin loves to bounce from 0.382 or 0.618 Fibonacci levels, and I think the bottom will be at 0.618 FIB. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
Short
by Xanrox
181
GOLD → New reasons for the growing interest in goldFOREXCOM:XAUUSD strengthened last week and closed with +1.2% at 2035.375. Price returns to the flat range that is forming within the uptrend. Let's move a bit away from the local situation and take a look at the global chart. The global uptrend with variable trends indicates a rather huge interest from buyers, which is not subsiding. The pressure on the resistance, which restrains the growth beyond 2100 continues to increase and most likely in the medium term there will be continued attempts to break through 2075 - 2100 and further strengthening towards 2300-2500. As for the range. The market continues to form a global flat on the background of the Fed's tough policy. Buyers are holding back all attempts to fall, which bears are trying to forge on the background of negative news for gold. Let's pay attention to Friday, February 23: Gold receives an unexpected inflow of funds due to the sanctions imposed by the U.S., Canada, the UK and European countries against Russia, the former CIS countries and Asian countries. Against the backdrop of a possible crisis, money is looking for a safe haven and is finding it in gold. Accordingly, the interest to the metal is growing and most likely the price will continue its growth to higher highs. Expectations for the coming week: Flat is forming on D1, after realizing the potential relative to the range support the market gets a target in the form of flat resistance. Important levels are shown on the screenshots above. Fundamentally, the gold market is still under the pressure of sellers, but at the same time the interest in the metal, against the background of geopolitical crisis is growing, which favorably affects the price. In the medium term it is worth considering to prioritize buying, because technically and fundamentally the situation has shifted a bit, but we should not forget that there are no trend rules inside the flat. Price is moving between levels. Resistance levels: 2044.6, 2060, 2065.46 Support levels: Fibo: 0.618, 0.5, 0.382 TVC:GOLD COMEX:GC1! COMEX_MINI:MGC1! TVC:DXY Regards R. Linda!
OANDA:XAUUSD
by RLinda
15
AVGO Chipmaker in an ascending channel SHORTOn a 30-minute chart, like several other computer chip manufactures has approached or reached a near-term top. Overall Broadcom has gained 19% YTD. Earnings are in about two weeks. I see this as a short trade to follow AVGO from the top of the channel down to about 1225 in time to catch earnings at the bottom of the channel to end the swing trade and instead go long from there. I intend to close the trade two days before earnings and flip sides hunting the beat on the earnings.
NASDAQ:AVGOShort
by AwesomeAvani
XRP - Best time to buy is right now, here is whyXRP is currently sitting on the main support of the ascending parallel channel. This is definitely a great opportunity to buy cheap XRP. We have a leading diagonal wedge as wave (1) followed by a sharp correction wave (2). Wave (3) should be in progress. You can be sure that XRP is a big deal for huge institutions such as banks. They are already investing a lot of money into implementation of this cryptocurrency. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades! Unlike Bitcoin or Ethereum, the XRPL uses a unique Federated Consensus mechanism as its method of validating transactions. Transactions are confirmed on the XRPL through a consensus protocol, in which designated independent servers called validators come to an agreement on the order and outcome of XRP transactions. All servers in the network process each transaction according to the same rules, and any transaction that follows the protocol is confirmed right away. All transactions are public and transparent, and anyone can operate a validator. There are currently over 150 validators on the ledger, operated by universities, exchanges, businesses, and individuals around the world. Through the Federated Consensus mechanism, all verified transactions can be processed without a single point of failure as no single participant makes a decision independently. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades!
Long
by Xanrox
11
BITCOIN → Is a correction before growth possible? New targets?BINANCE:BTCUSD is in a strong growth phase, updating the highs of December 2021. The price does not reach the 53K level and may forge a correction to support before further growth. Pic: Three key scenarios against the backdrop of a possible correction Why we should wait for a correction: Market potential (technical component) may get temporarily depleted and price may forage a correction to support to capture liquidity before rising further. On the 1-hour chart, the market is forming a consolidation in the range of 51k - 53,500. But at the same time the price bumps into the resistance and starts to feel some pressure from the sellers. There is nothing terrible in it, there is a chance for a technical pullback. It is worth paying attention to three possible scenarios regarding the correction to the support, indicated on the chart. In our case, the first liquidity area is the zone: 51256. The breakout and consolidation below the level will form a small liquidation and will be able to reduce the price to 0.236 fibo or to 48435. And the breakthrough of 48435 may provoke rather strong sell-offs. But against the general background it is unlikely. False breakout of one of the mentioned levels followed by consolidation above the level is the main pattern that will resume further growth. Pic: Bullish trend and key levels and zones There is an obvious strong bullish trend in the market. The price is overcoming the trend resistance, which technically can accelerate the strengthening phase of the price. But, before further growth, from a technical point of view, the flagman may test the support area (previously broken resistance), and in addition, the counter-trend correction is also a kind of liquidity consolidation. It would be good for the market to form another liquidity pool and local bottom before further growth to 53K, 58K and towards ATH. Pic: Strong support and resistance levels on high timeframe Both technically and fundamentally BTC is quite positive. Globally - the price is leaving the 51K - 42K range and thus makes us realize the situation that further promising targets are still ahead. Fundamental: - outflows from GBTC have significantly decreased - total open interest in BTC on major exchanges increased to the highest since April 2022 - net inflows into spot BTC-ETFs have been sustained for 15 consecutive days - BTC was included in the investor education program - BTC remains the most discussed token among the crowd Support levels: 51256, 50986, 0.236 fibo, 48435 Resistance levels: 52884, 53524 CME:BTC1! CRYPTOCAP:BTC CRYPTOCAP:TOTAL Regards R. Linda!
BITSTAMP:BTCUSDLong
by RLinda
34
Nasdaq - What Will Happen NextHello Traders, welcome to today's analysis of Nasdaq. -------- Explanation of my video analysis: For more than 13 years the Nasdaq has been trading in a decent rising channel. In the beginning of 2023 we saw a beautiful retest of the lower support and perfect confirmation so the recent rally of +70% was quite expected. If the Nasdaq now pulls back to the structure mentioned in the analysis, I am simply looking for bullish continuation setups from there. -------- I will only take a trade if all the rules of my strategy are satisfied. Let me know in the comment section below if you have any questions. Keep your long term vision.
TVC:NDQ
by basictradingtv
5
Bitcoin - 17% crash is starting! Buy again here:Technical analysis: Bitcoin is pumping, but be very careful because the price is currently at the strongest resistance ever. TOP of the parallel channel and 1.618 FIB Extension are definitely extremely strong levels. You do not want to go against it; rather, you want more confirmation. I recommend buying Bitcoin at the middle line of the ascending parallel channel on the log scale chart. On the chart, you can see my Elliott Wave count, and in my opinion, we are in wave (3) of the whole bull market. Are you ready for a crash or not? Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades. Fundamentals: How Is the Bitcoin Network Secured? Bitcoin is secured with the SHA-256 algorithm, which belongs to the SHA-2 family of hashing algorithms, which is also used by its fork Bitcoin Cash (BCH), as well as several other cryptocurrencies. How Is Bitcoin’s Technology Upgraded? A hard fork is a radical change to the protocol that makes previously invalid blocks/transactions valid, and therefore requires all users to upgrade. For example, if users A and B are disagreeing on whether an incoming transaction is valid, a hard fork could make the transaction valid to users A and B, but not to user C. A hard fork is a protocol upgrade that is not backward compatible. This means every node (computer connected to the Bitcoin network using a client that performs the task of validating and relaying transactions) needs to upgrade before the new blockchain with the hard fork activates and rejects any blocks or transactions from the old blockchain. The old blockchain will continue to exist and will continue to accept transactions, although it may be incompatible with other newer Bitcoin clients. A soft fork is a change to the Bitcoin protocol wherein only previously valid blocks/transactions are made invalid. Since old nodes will recognise the new blocks as valid, a soft fork is backward-compatible. This kind of fork requires only a majority of the miners upgrading to enforce the new rules. Some examples of prominent cryptocurrencies that have undergone hard forks are the following: Bitcoin’s hard fork that resulted in Bitcoin Cash, Ethereum’s hard fork that resulted in Ethereum Classic. Bitcoin Cash has been hard forked since its original forking, with the creation of Bitcoin SV. Read more about the difference between Bitcoin, Bitcoin Cash and Bitcoin SV here. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
Short
by Xanrox
95
Buy XAUUSD Channel FormationThe XAU/USD pair (spot gold) on the M30 timeframe displays a potential buying opportunity due to the presence of a bullish channel pattern. This pattern suggests ongoing buying pressure and a higher likelihood of further advances in the coming minutes or hours. Key Points: Bullish Channel: The price has been trading within an upward-sloping channel, characterized by two converging lines: a rising support line and a rising resistance line. This ongoing uptrend signals continued buying pressure. Recent Price Action: The recent price action shows the price holding above the support line of the channel, indicating continued bullish momentum. Buy Entry: Consider entering a long position around the current price of 2026, positioned near the support line. This offers an entry point close to potential buying pressure. Target Levels: Initial bullish targets lie at the previous resistance level within the channel, now acting as potential support: 2046. Further upside targets could be determined using other technical analysis methods like Fibonacci retracements or extensions. If Price Breaks the Channel, its Starts Bearish like, Channel Breakout Pattern. Thank you
OANDA:XAUUSDLong
by KABHI_TA_TRADING
6
ETH - last wave up, then a 16% crash!Technical analysis Ethereum is bullish, but do not be too much excited about it. Buying at the current price is simply not worth is as per my technical analysis. We can see that the price of ETH created 2 unfilled Fair value GAPS below the current price. Usually these gaps tend to be filled sooner or later. Wait for the uptrend to end and then take a fibonacci retracement tool and look for the 0.618 level. From the Elliott Wave perspective it looks like a wave 5 can be in progress, but we do not want to long waves (5) as often there is only a liquidity sweep above the previous wave (3) and then a massive crash follows. Daily RSI overbought region, weekly RSI overbought region. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
Short
by Xanrox
44
Nvidia - It Is Finally TimeHello Traders, welcome to today's analysis of Nvidia. -------- Explanation of my video analysis: In 2019 Nvidia stock started creating a long term rising channel and retested the lower support trendline the last time in 2022 before we saw a massive +600% rally on this stock. Nvidia is now retesting the upper channel resistance which I mentioned in the analysis and there is a quite high chance that we will see at least a short term correction towards the downside from here. -------- I will only take a trade if all the rules of my strategy are satisfied. Let me know in the comment section below if you have any questions. Keep your long term vision.
NASDAQ:NVDA
by basictradingtv
10
AVAX/USDT Bullish Channel In H4A chart of the AVAX/USDT currency pair on a 4-hour timeframe. The chart displays a Bullish channel pattern. Bullish Channel : The Price has been Trading within a Bullish Channel for Some time, characterized by a resistance line at the top and a support line at the bottom. The price is currently trading at Bottom of channel pattern, if Breaks the Downside then it start Bearish Sign. However, it is still early to say whether this is a genuine breakout or a false signal. Recent News: Music industry eyes DeeStream presale after Ethereum and Avalanche whales join: This news suggests potential increased interest in the Avalanche network from institutional investors, which could be positive for AVAX price. Thank you.
Long
by KABHI_TA_TRADING
1
EURJPY → A break of resistance will lead to a rise to 164.0FX:EURJPY is realizing the potential of rebound from support and forms a retest of resistance. At the moment consolidation is forming above the level, which increases chances for further growth. Globally, the currency pair continues to form a strong bullish trend, having left the previously formed ascending channel, which is currently a strong support area. The price is retesting the resistance at 161.87, after a small correction the chances of breaking through the level are increasing. The weakness of the Japanese Yen is quite clearly shown on the quotations. The price consolidation above 161.4 will allow to overcome 161.870 and continue the growth towards the range resistance - 163.6 and 164.2. Resistance levels: 161.87 Support levels: 161.4, 160.9 The currency pair continues to strengthen, buyers are quite active. Consolidation above 161.4, breakout of 161.87 and consolidation above this area will form a local bottom for continuation of growth. Regards R. Linda!
Long
by RLinda
4
BUY EURJPY Bullish Channel PatternThe EUR/JPY pair on the M30 timeframe displays a potential buying opportunity due to a well-defined bullish channel pattern. This pattern suggests ongoing buying pressure and a higher likelihood of further advances in the coming minutes or hours. Key Points: Bullish Channel: The price has been trading within an upward-sloping channel characterized by two converging lines: a rising support line and a rising resistance line. This ongoing uptrend signals continued buying pressure. Buy Entry: Consider entering a long position around the current price of 161.50, positioned close to the channel support. This offers an entry point near a potential continuation of the upward move. Target Levels: Initial bullish targets lie at the resistance levels of 162.02 and 162.35, marking previous resistance zones within the channel. Stop-Loss: To manage risk, place a stop-loss order below the support line of the broken channel at 161.00. This helps limit potential losses if the price reverses and breaks back down. Thank you
Long
by KABHI_TA_TRADING
1
MSFT to $395Overview Microsoft ( NASDAQ:MSFT ) appears to be within an ascending channel and has reached the resistance line that coincides with the peak of an impulse wave (Wave 3). Utilizing the impulse waves within the channel, a price target of $395 seems probable and may provide a decent Puts trade. If the ascending channel provides textbook formation then a low of $365 is also possible, however, volume and selling pressure should be carefully watched around the $395 price level as steeper declines will require more validation. The following technical indicators give me confidence that significant selling pressure will soon occur: Volume -- except for a single outlier in December -- has been steadily decreasing since the channel developed. On-Balance Volume appears to have reached a ceiling that will need to be carefully watched in the event of a breakout. Relative Strength Index shows an RSI (green) retreating from the overbought zone. While it is experiencing a slight uptick back to the MA (red), there is still plenty of room until the indicators approach oversold or for the RSI to cross from beneath. Moving Average Convergence Divergence (MACD) has just crossed its signal line (red) from above and is nosediving downward. In addition, it is showing a divergence as the peaks of the MACD are inverted from the peaks of MSFT's share price.
NASDAQ:MSFT
by Shepherd_Investor