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Channeltrend

Mastering Elliott Wave: The importance of channelingI wanted to share my thoughts on the significance of using channeling technique in Elliott Wave theory when analyzing charts. To begin, we draw what we call a "base channel," starting from the beginning of wave 1 and extending it to the end of wave 2. This initial channel provides us with a foundation for analysis. The following occurrence of an impulsive breakout beyond this channel signals the initiation of wave 3. At this point, we create a new "Acceleration Channel" to track the movement of wave 3. If this newly drawn channel is breached to the downside, it suggests the possibility of a correction for wave 3 underway. As seen in the picture, the original base channel we drew earlier now acts as a support level for wave 4, accompanied by consolidation around Fibonacci levels. This observation has been witnessed numerous times in the past. When the corrective channel experiences a breakout with above-average volume, it serves as a signal indicating the completion of wave 4. This event provides an opportunity for us to establish Fibonacci targets for profit-taking. In this particular example, I have chosen to draw the corrective channel only on the final leg of the ABC correction, enabling us to catch the breakout at an earlier stage. A more conservative approach, however, would involve waiting for the breakout to occur after wave B has been surpassed. Hope this was helpful for those wanting to learn more about channeling and Elliott Wave.
TVC:GOLDEducation
by Ingvar77
SNOW another technology company tolerating Bidenonomics LONGSNOW on the 4H is seen trending from from earnings in May with the great top line and okay bottom line with a big uptrend into a sideways wide range channel. It is now low in the channel but still above the long term anchored mean VWAP which is the logical stop loss for any long trade setup. Confluent support is the POC line of the visible volume profile with the upper high volume profile providing the the expected range of a long trade. The Volume Price Trend indicator and the MACD are synergistic in their confirmation. Fundamentally, SNOW is in the AI revolution and its role in streamlining processes and lowering costs for the government and businesses. The logical target here, the second deviation above mean VWAP presently at the 193.45 price level. This line pushed the price back down 4 times in the past 8 weeks. I see the quick 10% upside as good for a long trade knowing well-managed options trade could produce 100-150% easily in capitalizing on AI software tech and the heavy hitters of the new NASDAC leading the index higher and faster. What a great concept more snow while the climate heat wave is unrelenting. I will enter here with a sizeable stock trade while considering a 10-30 DTE call option to catch the ride toward the target mentioned here.
NYSE:SNOWLong
by AwesomeAvani
EurUsd -> Riding The Obvious WavesHello Traders and Investors , my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of EurUsd 💪 With EurUsd retesting previous monthly structure and the 0.618 fibonacci retracement level I do expect a short term bearish rejection on EurUsd and then simply more bullish movement. Weekly market structure is quite clear with EurUsd still trading in an obvious rising channel and now retesting the upper resistance trendline so also from a weekly perspective a move lower is quite expected. However I am still waiting for EurUsd to shift back to a daily bearish market because at the moment everything still looks very bullish and if this shift happens then I also do expect a move lower on the daily timeframe. Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint 📈 Thank you for watching and I will see you tomorrow! My previous analysis of this asset:
Short
by basictradingtv
43
Is MSFT's bullish momentum depleted? The uptrend channel A 100% parallel extension of the uptrend channel indicates the strength of this bullish trend. Symmetrical projection: An uptrend N pattern By projecting a 100% symmetry projection of the initial swing from point A to B, and extending it from point C, the target price would be point D at $303.3. Given that the anticipated symmetric pullback to point E did not occur, my expectation is for a further 100% extension from point D. As a result, the target price has been revised upwards to point F at $360.8. Other key levels Resistance The historical highest high at $349.6 is a very strong resistance level, coinciding with the upper band of the channel's 100% extension. The more resistances encountered, the harder it is to break through. Support The 1.5 extension level at $ 332 is a support level that has been tested. Clear price reactions to key Fibonacci levels can enhance the overall significance and value of the analysis. The prior low level, which is at $322.5, can always act as a significant support level. Moreover, it’s a resistance turned support level, making it more important. Possible scenarios If the uptrend continues… When facing the key resistance at $349.6, the market should exhibit a clear movement, like a gap-up opening or a significant bullish candle, to demonstrate its determination. If the bullish momentum is depleted… The market is likely to pull back the price to below the prior low level, which is at $322.5. Compared to the 1.5 extension support level, the level of the prior low holds greater importance. If the 1.5 extension support level is breached, it serves as a mere warning. However, If the level of the prior low is breached, it disrupts the rhythm of a healthy bullish trend and makes price movements difficult to anticipate. Conclusion If the key support at $322.5 is breached, it’s better to step out of the market. Allow the market to stabilize on its own, and wait for a clearer signal before reentering. If not, the uptrend will continue, and the target price remains at $360.8. Hindsight bias part While our target price is $360.8, the prior historical high level at $349.6 represents the optimal target price. Considering the formidable resistance at the prior historical high, I prefer to sacrifice a small portion of potential returns in favor of a higher probability of success. **Not Financial Advice** The information contained in this article is not intended as, and should not be understood as financial advice. You should take independent financial advice from a professional who is aware of the facts and circumstances of your individual situation.
NASDAQ:MSFT
by stock_adelie
Gold -> Please Listen To Me NowHello Traders and Investors , my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Gold 💪 Gold retested the monthly 50% fibonacci retracement level of the last major monthly impulse and is now in confluence with bullish moving averages heading for new all time highs. Weekly market structure is very clear with Gold retesting the 0.618 fibonacci + previous structure now acting as support + the support of the parallel channel so I simply do expect more weekly bullish movement. Daily structure is also now back to bullish; there is a chance that we will see a short term daily correction away from the current structure zone but overall I then do expect a break and a move back to the previous highs at the $2060 level. Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint 📈 Thank you for watching and I will see you tomorrow! My previous analysis of this asset:
OANDA:XAUUSDLong
by basictradingtv
46
NQ: How far can this uptrend go? Channel - There’s a clear uptrend channel. Symmetrical projection: An uptrend N pattern - By projecting a 100% symmetry projection of the initial swing from point A to B, and extending it from point C. - As the expected symmetric pullback to E did not occur, I anticipate a further 100% extension from D to F ($16,733). The target price level aligns with the historical high level, adding significance to the target price. Resistance levels on the way - The price successfully surpassed the previous key resistance level at $15,344 and paused by reaching the upper band of the uptrend channel. (Please refer to the link, "Related Ideas", below for more details.) - The next resistance level is the “Another potential TP” level at $16,216. ( If applying a more conservative initial swing. Please refer to the link, "Related Ideas", below for more details.) Support/ Defence level for bulls - Since the price successfully broke out and closed above the old key resistance at $15,344, we can adjust the prior low level to $14,853. - The level at $14,853 coincides with two key Fibonacci levels: The 0.236 Fibonacci retracement level from point A to “Another potential TP” level (assuming that level G represents the end goal of this uptrend). The 0.382 Fibonacci retracement level from point C to point F (assuming that level F represents the end goal of this uptrend). - While the new support/defense level for the uptrend is set at $14,853, the ideal scenario for bulls is to observe a shift in the previous key resistance level at $14,344, turning it into a support level. **Not Financial Advice** The information contained in this article is not intended as, and should not be understood as financial advice. You should take independent financial advice from a professional who is aware of the facts and circumstances of your individual situation.
CME_MINI:NQ1!
by stock_adelie
TESLA: Can the minor uptrend win? Channel - A minor uptrend exists within a main downtrend. For TESLA to officially transition into an uptrend, it must break the main downtrend and surpass the significant prior high at $313.5. Symmetrical projection: An uptrend N pattern - By projecting a 100% symmetry projection of the initial swing from point A to B, and extending it from point C. - As the expected symmetric pullback to E from D did not occur, I anticipate a further 100% extension of the primary bullish momentum (A to B) from D to F ($384.6). The target price level aligns perfectly with the starting point of the primary downtrend, further enhancing the significance of the target price. Resistance level on the way - The significant prior high at $313.5 represents a critical resistance level as the market must break through it to officially reverse the downtrend. Support/ Defence levels for bulls - The prior low at $241 is a key support level that shouldn’t be broken, if the market intends to sustain the uptrend. The level aligns with two critical Fibonacci levels, adding its importance. The 0.5 Fibonacci retracement level of the primary downtrend from point X to point A. The 0.618 Fibonacci retracement level from point C to point F (assuming the target price of $384.6 marks the end of the uptrend). - If the price manages to sustain above the current level at $268, it would create the ideal scenario for a healthy uptrend. This is because $268 serves as both the original target price at level D and the 0.786 Fibonacci retracement level of the nearest downswing from point X to point A. **Not Financial Advice** The information contained in this article is not intended as, and should not be understood as financial advice. You should take independent financial advice from a professional who is aware of the facts and circumstances of your individual situation.
NASDAQ:TSLALong
by stock_adelie
3
Parallel channels provide great visualsI've really started to like parallel channels a lot as part of very simple TA. On the daily or weekly charts in particular. It works pretty well for Bitcoin, it works especially well for stock indices, particularly SPX/SPY for longer term trends. It's just an excellent visual of waning buying pressure as upwards price movement starts to fall out of an ascending channel, or waning selling pressure as price action starts to go sideways and up plus out of a descending channel. With that being said, the most recent trend shift that may well be developing is Bitcoin showing weakness in the ascending channel as it just hit its high for 2023 as seen above. This is in combination with this market cycle indicator potentially indicating we're at or near the top for the crypto space. It's also taking a bit of history into account, with Bitcoin halving cycles. Post a miner payout halving, Bitcoin tends to enjoy it's strongest bull runs for anywhere between 12-18 months after. Then that's followed by exactly 12 months of selling off. That 12 months of selling off can be followed by a smaller rally/mini bull cycle, but that eventually starts to come back down as the next halving approaches. This is why I've been likening 2023 to what happened in 2019. Obviously, history won't repeat exactly, but it often does rhyme. Now, channels are usually only able to be put up with some retrospective, but the idea is that the channel can at least give you advance warning when a shift is about to occur, then some time later you can put up the next channel as support and resistance of the current trend become established, project it out a ways so you can see when it does start to diverge out of the channel. Above is the late 2021 all of 2022 Bitcoin bear market. That parallel set would have been able to have been put up months before it started the bottoming process, and did great at showing the selling pressure slowing, and the price action exiting out above of the channel before it did its final drop in December. Go back some more. The giant parabolic move it started in 2H 2020 and carried into 1H 2021: It stays within that channel, but that last rally in April, it's a pretty weak looking all time high at that point as it's fallen to the bottom of the channel. Let's try with SPX. This is coming out of the COVID crash, which had a pretty radical upwards trajectory compared to many years prior. I lined up according to the top line mostly, trying to hit two of the early peaks, it also happened to go through a gap-down during the sell off in March 2020. I also was aiming to get it close to parallel with the 4 months where price action kind of normalized 2H 2020 into 1H 2021, where there was a pretty consistent trajectory the highs had. After a small amount of turmoil, Feb-March 2021, it resumed another 4 month period of consistent upwards movement, but this time, at a slightly less aggressive trajectory than before, which was not so easy to see unless you drew a line parallel to the previous 4 month period that had a consistent upwards march. Then more turmoil September into October 2021, eventually followed by all time highs in December, but by that point, the highs were now mid channel instead of near the top, clearly showing waning buying pressure. And it indeed was followed by a near year-long sell-off. Let's go there next: The top trend line was well-established pretty early on in 2022, often got referred to as the MOAT (Mother Of All Trend Lines). If we put the bottom of the channel at the June 2022 lows, that then makes the subsequent October lows show that maybe sell pressure is waning some, as it didn't come back down to challenge that lower line. By January '23, it was becoming more obvious that we were setting our first higher low. We did get close to re-challenging that low very briefly in March, and it's been more up than anything ever since. Time to start drawing ascending channels again. I've tried a couple spots, and it just looks like we're in one of our most bullish moments right now. There of course will be small corrections, but until a larger falling out of these channels becomes pretty obvious, I wouldn't try fighting the bulls... This is the main one I'm looking at for the moment, I've also tried drawing a smaller channel for the more recent, aggressive upwards move from May through now, but removed it for this larger trend channel for clarity. You start drawing multiple channels, the chart gets very busy, very quickly. For the larger market cycle top, I'll be keeping my eyes on this channel as well as www.tradingview.com . If I see both a falling out of the ascending channel plus an upwards divergence of the lows in VIX/VVIX, it's time to go full bear, sell sell sell! Until then, run with the bulls. More often than not, it's ill-advised to go against them. For the record, from this point I'm starting to turn bear on Bitcoin for the remainder of the year, but equities still likely have at least several more months of going up pretty rapidly, very similar to 2019. Equities bulls are the ones I won't be fighting here. I actually won't be fighting Bitcoin bulls either, but I am definitely not a buyer here, where I will continue to be long equities. But, if I'm right and Bitcoin finds another nice supported low near the end of this year, that will likely be the point to buy back in/add for the post-halving mania that will ensue.
BITSTAMP:BTCUSD
by dieseldub
XTZ - Channeling A Way Through Resistance XTZ, as with the rest of the market, is running due to the court catalysts that i've been posting about all month. 🫡 Recently, after the sell off, the price action has been forming a channel uptrend. I will publish this on the 4 hour and one day so that the price action is easier to track. In the near term, price is likely to see some profit taking over the next 4-12 hours, and then we'll likely rebound from the support platform to retest the resistance.
COINBASE:XTZUSD
by SpektreSignal
Bitcoin Patterns Bitcoin hasn't done much recently. Price holding well around the 30k mark. However personally I believe we are due a retrace, especially at these levels (see my other tradingview posts) The thick blue downtrending line is a longterm support/resistance from last bullmarket. Struggling to close a daily candle above. Shortterm. I'm looking at a traingle pattern (white) has a higher chance of breaking to the upside. The downtrending parralel channel (yellow) is also reacting rather nicely. I will try and update once we breakout. NOT FINACIAL ADVICE.
COINBASE:BTCUSD
by Connix
1
Nasdaq for the coming week (7/10) Channel - There’s a clear uptrend channel. Symmetrical projection: An uptrend N pattern - By projecting a 100% symmetry projection of the initial swing from point A to B, and extending it from point C. - As the expected symmetric pullback to E did not occur, I anticipate a further 100% extension from D to F ($16733). The target price level aligns with the historical high level, adding significance to the target price. Resistance levels on the way - The price range from $15340 to $15360 is a crucial resistance level zone, as it aligns with multiple key Fibonacci levels. The 0.786 Fibonacci retracement level of the entire downtrend from point X to point A'. The 1.5 Fibonacci extension level from point Y to point A'. - $16216 could serve as another potential target if we apply a more conservative initial swing from Orange point A to point B. Support/ Defence level for bulls - The prior low at $14250 is a key support level that shouldn't be broken, otherwise, the bullish momentum will be difficult to sustain. - In addition to being level D, the level aligns with two critical Fibonacci levels, further enhancing its significance. The 0.618 Fibonacci retracement level of the entire downtrend from point X to point A’. Assuming the current high marks the end of the uptrend, the 0.236 Fibonacci retracement level of the uptrend from point A’ to point Z perfectly aligns with the prior low level. Key points on the chart. **Not Financial Advice** The information contained in this article is not intended as, and should not be understood as financial advice. You should take independent financial advice from a professional who is aware of the facts and circumstances of your individual situation.
CME_MINI:NQ1!
by stock_adelie
2
📈 $AAVE Spotting a Triple Bottom within a Downward Channel! 🔍EURONEXT:AAVE has caught our attention with a compelling price pattern - a triple bottom formation within a downsloping channel. 📉⚖️ This setup presents an intriguing opportunity for traders! The triple bottom, characterized by three distinct lows, suggests a potential bullish reversal. Combined with the downsloping channel, it adds an interesting dynamic to the price action. 📈🔄 Will EURONEXT:AAVE break out of the channel and embark on a bullish rally? Or will it face resistance and continue its downward trajectory? Join the discussion! 📊💬 #AAVE #TechnicalAnalysis #TripleBottom #DownslopingChannel #BullishReversal #TradingOpportunity #TradingView" Remember, technical analysis is just one piece of the puzzle. Always conduct thorough research and practice risk management. Happy trading! 🚀💰
Long
by STP_MrNodeItAll
2
📉 Downward Channel & Weekly Bullish Divergence on $AXSHey traders! Today, I want to discuss an intriguing chart pattern I've identified on NYSE:AXS (Axie Infinity). Let's explore the downsloping channel accompanied by weekly bullish divergence and assess its implications for potential price action. 📊💡 Pattern: Downward Channel & Weekly Bullish Divergence 📉🔽 Symbol: NYSE:AXS 💰 Overview: A downsloping channel is a notable chart pattern characterized by a series of lower highs and lower lows. Additionally, the presence of weekly bullish divergence further strengthens the potential for a reversal. Let's delve into the downsloping channel and bullish divergence on NYSE:AXS in more detail. ⚡💹 Key Features of the Downward Channel & Weekly Bullish Divergence on NYSE:AXS : Channel Formation: Observe the well-defined downsloping channel, which consists of a series of lower highs and lower lows. This indicates a prevailing bearish trend. 📈📉 Weekly Bullish Divergence: Notice the bullish divergence forming on the weekly timeframe, where price creates a lower low while the corresponding oscillator indicator forms a higher low. This suggests a potential shift in momentum. 🚀📈 Trading Strategy: Entry Point: Consider entering a position once NYSE:AXS breaks out above the upper trendline of the downsloping channel, supported by the confirmation of bullish price action and the weekly bullish divergence. This breakout could signal a potential trend reversal and the start of an upward move. ⬆️💰 Stop-Loss: Implement a stop-loss order below the recent swing low or below the lower trendline of the channel to manage risk and protect against potential downside. ⛔️📉 Target Levels: Identify key resistance levels or previous swing highs as profit targets. Adjust your position size and take profits accordingly. 🎯📈 Risk Management: Maintain proper risk management techniques, including position sizing, setting stop-loss orders, and adhering to your trading plan. Be aware of the risks associated with trading cryptocurrencies like $AXS. ⚠️💼💡 Disclaimer: Trading cryptocurrencies involves risks, and it is crucial to conduct thorough analysis and seek professional advice before making any investment decisions. #DownslopingChannel #BullishDivergence #AXS #AxieInfinity #Cryptocurrency #TrendReversal #TradingStrategy #TechnicalAnalysis In conclusion, the downsloping channel and weekly bullish divergence identified on NYSE:AXS indicate a potential reversal in the making. However, wait for a confirmed breakout above the upper trendline and validate the bullish price action before considering any trades. Stay tuned for further updates on $AXS! 💹🚀 (Note: This post is for informational purposes only and should not be considered as financial advice.) 💡💼📚
Long
by STP_MrNodeItAll