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Channelanalysis

Resistance on the Edge? A breakout in Sight!In our previous analysis, we anticipated a price drop—and it played out perfectly, securing 10,315.6 pips in profit. What’s Next? Now, after analyzing multiple timeframes, we see that the price has bounced off the 2nd large channel’s middle line, a key support level respected multiple times in the past. Currently, it’s trading around 2915.44, near our resistance zone at 2922. Since March 4 (Tuesday), the price has been testing this level repeatedly, suggesting that the resistance is weakening. If 2922 breaks, our next targets will be: 📍 2940 – Next resistance zone 📍 2949 – First price target 📍 2968 – Second price target 🛡 A trader’s first goal is survival. Profits come second. 🔑 Take care of your losses, and the profits will take care of themselves. Stay disciplined and trade wisely. Happy trading!
OANDA:XAUUSDLong
by SpicyPips
2
Navigating the Markets with Fibonacci ChannelsToday we delve into the fascinating world of Fibonacci Channels, a powerful tool for traders looking to identify potential non-horizontal support and resistance levels in the market. Throughout the video, we provide a step-by-step guide on how to place Fibonacci Channels on price charts, allowing you to visualize and understand their significance in identifying key price levels. We also showcase real-world examples to demonstrate how Fibonacci Channels can be used to find points of interest, such as trend reversals and price targets. Furthermore, we discuss the integration of Fibonacci Channels with other technical indicators, providing insights into how this combination can enhance your trading strategy. By the end of this video, you will have a comprehensive understanding of Fibonacci Channels and the ability to confidently incorporate them into your trading approach. Get ready to unlock the potential of Fibonacci Channels and take your trading skills to the next level!
Education
by LeafAlgo
16
EURUSD Monthly Technical AnalysisEURUSD Monthly - No RECOMMENDATION or ADVICE Status / EDUCATIONAL only - Support, Resistance, Confluence, Cluster, Fibonacci Retracement, Channels - Hope it Helps, Good Luck DISCLAIMER - This communication is not trading or investment advice, recommendation or solicitation to buy, sell or hold any investment product is provided for informational, educational and research purposes only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The author or persons involved in the conception, production and distribution of this material cannot be held responsible for transactions or any financial loss or damages resulting directly or indirectly from the use or application of any concepts or information contained in or derived from this material. Past performance is not indicative of future results. Any person who chooses to use this information as a basis for their trading assumes all the liability and risk for themselves.
by BahamasX
2
CADCHF Is ready for to BUY Welcome back! Let me know your thoughts in the comments! **CADCHF - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
Long
by BKTradingAcademy
4
The Battle for the 80 Inter-Bank Price Mark in NZDJPYNZDJPY has been in a continuous uptrend since May 2020 after recovering from the fall in prices caused by the COVID pandemic. Asset flows out of the JPY into Risk Assets and Commodity Currencies has kept on increasing. The Price has formed an Ascending Channel which started at the end of March 2021 as you can see in the Chart. Responsive Bears have always brought price back into the Channel anytime Bulls try to overshoot the Channel. These are the Two Red Circles at the top of the Channel. The Price hit the 80 price mark in May 2021. The last time price was at this level was Three Years ago at the (Beginning of 2018). This Area is a Clear Inter-Bank Level and the Confluence around this level is so strong. We have the Monthly Trendline Resistance and the Weekly Trendline Resistance in this Area. As expected, the Sellers took over at the 80 price level and have created a New Bearish Channel which is shown in the Chart (The Red Trendlines) Remember that on the Higher Timeframe Charts, NZD/JPY has been in a Downtrend Channel since 2013 and now Price has gotten to the Top of the Downtrend Channel. Have the Sellers taken control of the Market? The only way to find out is to observe the Price Action. We are at an Important Decision Point. We are at the Bottom of the Channel. The Daily Pivot Centre is at 78.75. The Decision Point Area is the Purple Circle in the Chart. Who will win? Will the Bulls maintain The Bullish Ascending Channel and push price up? or will the Sellers continue the Bearish Channel and push prices down? Demand Zones are marked out on the Charts using the Blue Rectangles.
by Benettel
2