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Descending Channel

Basic Attention BAT - Huge breakout soon! + Head and Shoulders BAT successfully completed an ABC correction from the last impulse wave and is potentially prepared for another massive impulse wave to the upside! The chart is printing a local inverse head and shoulders, bullish reversal pattern, and we are really close to a breakout. This can be a good breakout trade above the head and shoulders + trendline (channel). The first profit target is below the all-time high, because I think we will need more time for a possible consolidation here, and then we can go much higher. The price is still below the key level of 0.444 USDT, so we still need a confirmation from the bulls. I recommend buying a breakout at a new swing high (0.4595 USDT). I expect tremendous gains for selected altcoins. You can find them in the related section down below. For more ideas, please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
67
TOTAL Crypto market cap - New rising wedge on the weekly chart! 2023 is going to be a very bullish year for crypto in my opinion! I believe we can reach a market cap of 6-7 trillion dollars by December 2023. Most likely, you have never seen this rising wedge elsewhere, because it's a brand new pattern on the weekly scale (LOG). 200 moving average is considered a strong support by huge institutions and hedge funds, and the bulls successfully defended this area. As per my Elliott Wave analysis, the ABC correction has been completed on the macro scale, and now we are ready for another bull market. We have a tremendous confluence to buy cryptocurrencies at this moment, as you can see on the chart. I expect massive gains for selected altcoins. You can find them in the related section down below. For more ideas, please hit "Like" and "Follow"!
CRYPTOCAP:TOTALLong
by UnknownUnicorn2537518
42
ARPA/USDT BREAK OUT! READY FOR A 170% MOVE TO THE UPSIDE!!Hello everyone, if you like the idea, do not forget to support with a like and follow. Welcome to this ARPA/USDT trade setup. ARPA looks very bullish here. Breaking out from the descending channel. ARPA is consolidating in this channel since the starting of 2022 and now it's breaking out. I'm expecting a bullish move here. Buy some here and add more in dips. Entry range:- $0.041-$0.045 Target:- 150-170% SL:- $0.034 If you like this idea then do support it with like and follow. Also, share your views in the comment section. Thank You!
Long
by CoreCrypto1
11
USD/CAD: Possible triple top ; updateU.S. Dollar/Canadian Dollar forming a possible triple top in formation that we could to take advantage to short, unfortunately, the price doesn't climb as I expect and maybe the price acton it's speaking that there're a weak in the price of bull and bear. We're in the descending channel, and this pull back it's look manipulated and false to climb, I'm shorting USD/CAD now in the $1.2851 CAD, SL to $1.2896 CAD, and my target to $1.2745 CAD. H4 timeframe look bearish and very weak in the price action, what we could to see a bearish movement in USD. I hope that this idea support you!!! Good luck!!!
Short
by harisonhbn9718
1
Crude Oil Descending Channel Guiding WTI Lower, Where to?Crude oil prices fell almost 10 percent this week, the worst performance since late March. A near-term falling channel seems to be guiding WTI lower since June. Meanwhile, a bearish crossover between the 50- and 100-day Simple Moving Average (SMA) is underscoring a bearish posture. There is certainly room for upside within the channel, with immediate resistance as the 92-95 - 95.11 range. This zone used to hold as support when it was established back in March. Now, it could hold as new resistance. Immediate support seems to be the 85.38 inflection point. A confirmatory breakout under this price could open the door to extending losses towards the 78.6% Fibonacci retracement at 76.78. Otherwise, further gains could see the SMAs hold as resistance. USOIL
TVC:USOILShort
by QM_Dubrovsky
OG Fan Token! 2020 trendline is breaking out! Head and Shoulders OG looks very promising on the daily/weekly chart! As you can see, the main trendline (falling wedge) has been destroyed by the bulls, and currently the price is forming an inverse head and shoulders pattern. We can also spot a descending triangle from 2020–2022. The price went below the triangle, but immediately pumped back up, which is a pretty solid sign of strength. The ABC correction has been completed and I think we can retest the previous all-time high or at least a previous swing high. If we take a look at the volume indicator, we can see a massive bullish spike, which is another great sign of strength. Look at my ideas about interesting altcoins in the related section down below. For more ideas, please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
42
Biconomy BICO - Ready for a massive breakout! Wedge + Triangle BICO on the daily chart looks like it wants to pump any time soon! We have a descending broadening wedge and a local symmetrical triangle, so we have a pretty good confluence to buy a breakout. What's more, as per my Elliott Wave analysis, the massive impulse wave has been completed, and that's why I expect a retracement. I recommend buying a breakout above the wedge + triangle + new swing high for a higher probability of success. The main profit target is at the 0.382 FIB + below wave (4) and I think we should definitely hit the target in the immediate short term. I expect tremendous pumps for selected altcoins. You can find them in the related section down below. For more ideas, please hit "Like" and "Follow"!
BLong
by UnknownUnicorn2537518
43
GBP/USD - Wait For A Break, Close & Retest Of The Channel TopHi Traders, Today we are looking at trading GBP/USD on the 1-hour time frame. We can see that price reached a high of 1.228 and then slowly began its fall bouncing between the bottom and top of this descending channel. We have had two taps on the bottom and four taps on the top. I have put little arrows to show exactly where the price has been touching. I always look for a minimum of 2 taps on either side to confirm a channel. I also look for price respecting the middle line of a channel that helps to confirm a true channel as price always seems to treat the middle line as some sort of Support or Resistance. We can clearly this happening on the chart. So, now that we can confirm that this is a downwards channel, what should we be looking for? Well, we look for some sort of bullish divergence on the MACD. We look at the histogram as well as the MA Lines. Looking at the histogram, we can see that price is sloping upwards. I have drawn an arrow to show this clearly. This tells us that the volume of sellers is weakening and buyers should be stepping in at some point. Looking at the MA lines of the MACD, we don’t see this as yet. So, we have what we call partial divergence. Now, we are waiting for a break from the channel top. We want the price to close above the top of the channel with a clear break and close. If we see that, we can then wait for a retrace back down to the top of the channel before opening up a long position targeting the previous high of around 1.228. This is how we trade Ascending and Descending channels. We want divergence showing a possible change in trend, a break and close above the channel, and then a retrace back down to the channel top before entering into a long position. These patterns work extremely well when we have full divergence as confluence. It works just s well with partial divergence but as it's only partial divergence, I would not class it as an ‘A’ grade setup. This means I would class it as a ‘B’ or ‘C’ grade setup, which means I would not risk my usual amount on this position. I would risk less as I know the probability of this setup performing well is not as strong as a setup with full divergence. As most of you know, I am a swing trader and I look for setups on higher time frames. However, when I am in front of my charts and I do have the time to trade shorter time frame setups, I will take advantage of that. Hope you all have a great Wednesday. The Vortex Trader.
Long
by TheVortexTrader
XRP circle of contention 2022between August 18th and 22nd, we have these moving averages and a downward trendline all merging together beautifully in the middle of August 2022. I have a fractal on this ascending channel to give us an idea of a possible low of $0.32 until we move and target this circle of contention. Let's see if this is even an area we could be in within the next 18 to 22 days. If we hit this zone then we may have the sell-off we are hearing about with key technical experts like Gareth Soloway.
by altcoinb
AMD SHORT, BUT BE CAREFUL WITH EARNINGS AMD has now reached the upper trend line in the daily chart of it's current descending channel. However, AMD has earnings coming up August 2nd so I'm not holding puts through earnings. Earnings expected to be announced after market close August 2nd. Looking at $93 puts 3 weeks out 9/26 puts if we fail to close above resistance. Doing quick put scalps today and tomorrow then reentering August 3rd with a swing play 3 weeks out. Playing Calls if AMD closes above resistance and puts if it closes below.
NASDAQ:AMDShort
by MannyTman
AUTO - Massive channel is breaking out! Huge gains, Elliott Wave First of all, I want you to take a look at the volume indicator. As you can see, we have huge bullish volume! On the daily chart, there is a descending parallel channel that has been destroyed by the bulls recently. Also, there is a local symmetrical triangle that looks like it is also breaking out, so we have a double breakout, which is nice to see! Impulse Elliott Wave has been completed (5-3-5-3-5), and because of that, I expect a bullish retracement. The profit target is at the end of the previous wave 4. I don't have the historical data to put a fibonacci retracement from the previous all-time high, but it was around 13 500 USDT. I think this is a pretty good setup to buy this coin on the spot market. I expect tremendous gains for selected altcoins. You can find them in the related section down below. For more ideas, please hit "Like" and "Follow"!
ALong
by UnknownUnicorn2537518
51
FileCoin FIL - Ready for a bullish action! + Elliott Wave + Base For a confirmation trade, buy a breakout above 6.41 USDT, which I strongly advise you to do here! As per my Elliott Wave analysis, the huge impulse wave has been finished successfully and now we are ready for a bullish retracement. As you can see on the chart, we have a local base (rectangle pattern) and this is something i like to see! The last trendline of the last impulse wave has been destroyed by the bulls, so another great sign. The profit target for this trade is 6.5 USDT, which is totally doable, but in the long term, I think we can go even higher. Look at my ideas about interesting altcoins in the related section down below. I expect tremendous pumps for selected altcoins. You can find them in the related section down below. For more ideas, please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
36