EURUSD in descending channel I see a descending channel on the D1 timeframe and it doesnt seem to break out of it so i think we are still in downtrend.
I am aiming at 1.0000
Descending Channel
Stellar XLM - Prepare your buy orders! + 0.618 FIB + Wedge
XLM is very close to the 0.618 FIB retracement of the huge Impulse wave from 2020-2021.
Also the price is close to a massive horizontal support line from 2020.
I expect last wave to the downside to finish this downtrend and then I can see at least a retracement back to 0.25 USD.
As per my Elliott wave analysis - an impulse wave to the downside is almost completed as you can see.
If we take a look at the volume indicator, we can see there is absolutely no bearish pressure, which is always great to see.
On the weekly chart we can spot a falling wedge - bullish reversal pattern and the price is currently near the support line.
You can set a limit order to buy XLM at 0.0888 USD if you want to speculate on this move.
Look at my ideas about interesting altcoins in the related section down below ↓
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CRVUSDT is testing a key levelTheprice had a nice bounce from the weekly support on 0.52$ area and started with ascending channel until the 0.786 Fibonacci level resistance on the 4h Obrder block.
the market created a minor ascending channel and now the price is testing the resistance.
How to approach it?
IF the price is going to lose the support and retest it as new resistance, we could see a retracement until 0.382-0.618 Fibonacci Level, so According to Plancton's strategy , we can set a nice order
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Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
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Follow the Shrimp 🦐
DOGEUSDT - Complete Elliott Wave + Time to buy a bounce?- On the weekly macro scale, we have succesfully completed an impulse wave (12345) to the downside!
- And because of that, i am expecting a retracement (ABC) to the upside.
- Target for the retracement is 0.618 FIB or if you are more conservative, you can choose 0.5 FIB + start of the wave 5, which is also a reasonable target.
- We have a hammer candle at the end of the impulse wave with a big wick, which is definitely a sign of rejection to go lower.
- If we take a look at the volume - I don't see any bearish pressure, so it's nice to see.
- Look at my analysis about Bitcoin and Ethereum (Elliott Wave) in the related section down below ↓
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CVS Descending Channel on Weekly Chart
The "Decending Channel" pattern was identified on the weekly chart.
A "Double Bottom" pattern was identified on the daily timeframe, however, price failed to go higher. A closer look at recent price action and we have confirmation of resistance becoming support (see level 93.62). Though this is true, it is best to wait for a break of structure before placing a trade to the upside.
On a final note, the 21 MA crossed up the 9MA on Friday, July 8, 2022. Also, the RSI and volume indicator made higher lows and higher highs on the same timeframe.
Personally, I will enter a swing position lightly at the break of the trendline. I will also consider a secondary play action to include a break above 95 or 96.
Thanks for reading,
MrALtrades00
EURUSD-Weekly Market Analysis-Jul22,Wk1Trend traders could wait for the market to retest on the upper trendline of the bearish channel for a shorting opportunity.
Counter-trend traders could wait for candlestick pattern confirmation to long EURUSD based on the Bullish Deep Crab Pattern that completes at 0.9928. However, long at 0.9928 means that Euro went off parity with the Dollar and that might invalid the Deep Crab Pattern should the market break and close below 0.9928.
Is INTC getting ready to break its channel?As with most stocks, INTC has been in a bearish trend beginning this year. Recently it has entered into a neat downward channel. Following the last test of the channel upper bound (denoted by the blue flag), a substantial decline occurred. This decline ended with a volume spike against the lower bound.
The last test of the lower bound (denoted by the green flag) is strikingly different than the previous. It lacked a volume spike and did not push the Stoch or MACD to new lows. In fact, during the latest retracement up, both indicators flashed signals of a bullish divergence.
It seems likely that this retracement following the latest lower bound will take us at least to the upper bound, if not break the channel.
0807 NFP P1 GBPJPY drop more down to test 160Hello traders,
Last Sunday, I got one wkly plan for GBPJPY :
On this last trading Friday, seems that wkly plan did not work well.
Back on 6h chart, you should check with the downtrend channel that could send this pair down to last low 160 where is also fibo EXt1.27 position.
Lower position fibo ext1.618 is possible as long as price run alone with the channel down to break those supports.
GOOD LUCK ON THIS SELLING PLAN .
LESS IS MORE!
Serum SRMUSDT - Falling wedge + Elliott Wave + Channel- On the daily chart, we can see a huge falling wedge - bullish reversal pattern.
- The wedge has been broken and retested by the bears.
- Also the price is forming a descending channel, so for a confirmation trade - wait for the channel breakout.
- Out profit target is top of the wedge or 0.5 FIB.
- As per my Elliott Wave analysis - the impulse wave has been completed successfully!
- There are definitely better altcoins to buy at this moments, but i want to share with you also this coin.
- Look at my ideas about another interesting altcoins in the related section down below ↓
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CAD/CHF: Long position, break outCandian Dollar/Swiss Franc formed a bearish channel in H4 timeframe and made this break out and pull back in the H4 timeframe
This it's the Daily timeframe and we supported the zone of $0.7400 CHD like key support strong in Daily chart as bull continue climb the price.
But now, in H1 we pass the pull back confirmed and I think that CAD/CHF will go bulish now.
I entry right now in the price of $0.7471 CHF, Stop Loss to $0.7445 CHF (24 pips) and target to $0.7552 CHF (83 pips)
I hope that this analysis support you!!!
Good luck!!!
Litecoin LTCBTC - Falling wedge + New bull market! +Elliott Wave- On the weekly chart we can see a falling wedge - bullish reversal pattern and the price is currently above the wedge!
- Due to my Elliott Wave analysis - we have completed an impulse wave successfully (12345) as you can see.
- Our profit target is 0.618 FIB retracement of the wedge or you can target top of the wedge if you think that the price can go even higher.
- LTCUSD pair looks strong compared to bitcoin last week, so we can really experience a huge uptrend.
- We have a huge volume spike as you can see on the indicator!
- Look at my ideas about another interesting altcoins in the related section down below ↓
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Tron TRXBTC - HUGE Breakout! Channel + 200MA + Elliott Wave!- Tron is currently one of the strongest altcoin on the crypto market!
- On the weekly chart we can spot a descending channel , that has been destroyed by the bulls.
- Also we can see a broken ymmetrical triangle, which is definitely a great sign too!
- 200 weekly MA is considered as a massive support by huge institutions and the price is currently above the level!
- We are currently in the Impulse Wave (1-2-3-4-5), so it is the best time to buy right now.
- Next resistance is the previous all time high from 2018.
- Look at my ideas about another interesting altcoins in the related section down below ↓
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PolkaDot DOTUSDT - ABC completed! Elliott Wave + Channel- On the weekly/3D chart we can see a parallel channel and the price is currently on the support of the channel.
- Due to my Elliott Wave analysis - the ABC correction has been completed successfully and now we are prepared for another bullish market!
- 0.618 FIB is the strongest FIB level and the price si currently sitting on this level.
- If we take a look at the RSI indicator, we can spot a nice bullish divergence with a lower high!
- Wave 1 horizontal support (previous swing high) from 2020 is another great support that we have.
- Look at my ideas about another interesting altcoins in the related section down below ↓
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Ripple XRPUSDT - Massive BREAKOUT! + Elliott Wave + Channel- XRP on the daily chart looks like it wants to start a pump very soon!
- We have a parallel channel (on the daily chart ) that is very close to break up.
- Due to my Elliott Wave analysis - the Impulse wave should be completed and now I am expecting at least a retracement.
- The trendline (from March 2022) is now definitely broken, which is a good sign indeed!
- We still need to break the POC resistance of the volume profile .
- Profit target - 0.618 FIB + End of the first impulse wave.
- Look at my ideas about another interesting altcoins in the related section down below ↓
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AutoFarm AUTOUSDT - Record Volume + HUGE Channel + Elliott Wave- On the daily chart we can clearly spot a descending channel , which is very close to a bullish breakout!
- If you take a look at volume , we have a massive bullish volume spikes - always good to see.
- 200 weekly MA is actually acting as a resistance, but if the channel breaks up, then the MA will too!
- Due to my Elliott Wave analysis - 12345 Impulse wave should be completed and now are expecting at least a retracement to 0.618 FIB.
- Look at my ideas about another great altcoins in the related section down below ↓
- For more content, please hit "Like" & "Follow"!
Keep3rV1 KP3RUSDT - Huge breakout! Falling wedge + Elliott Wave- On the daily chart we can see a nice falling wedge / descending triangle, which is very close to a bullish breakout!
- We have a local double top above the wedge and we can definitely buy a breakout above this level for a confirmation trade.
- 0.618 FIB + End of the Wave 1 + End of the Wave 4 is the next resistance, so you can setup your profit target here.
- If we take a look at the volume indicator - there is a strong bullish volume and that is always good to see.
- As per my Elliott wave analysis - Impulse Elliott Wave has been completed succesfully and now I am expecting at least an ABC correction.
- See my ideas about Bitcoin and Ethereum in the related section down below ↓
- For more content, please hit "Like" & "Follow"!
GBPUSD : A FAVOURABLE LONG ENTRYExpanding corrective structure formed after a bullish impulse at the third touch of the descending channel. A long entry will be favourable if price rejects again at the bottom of the expanding structure.
$META FACEBOOK Meta Technology Falling Wedge Descending Channel$META FACEBOOK Meta Technology Company
Falling Wedge Pattern - Descending Channel - Double Bottom at support with a bullish harami on the 4 hour candle.
$META is looking bullish from here on a technical view for a bounce off the bottom trendline. If it breaks out and holds above the channel it has a measured move of $234 target.
GAPS are marked in RED.
Word on the streets says Mark Zucker is not hiring much and has been bringing the heat in on his current employees hoping to weed out the weakest links. Meta has had some failed crypto related launches and has thick competition in the social media world. Better management and highly talented individuals is exactly what the company will need in order to be first class in the metaverse and live up to the name.
STRONG DESCENDING CHANNEL ON BTCUSDT, NEXT INTERSECTION 18675A well confirmed DESCENDING CHANNEL is continuing consistently on the 1 hour , as well as on the 4 Hour TF-s.
As the price HAS BEEN REJECTED on the upper Resistance trendline , the price proceeds to the LOWER Support Trendline.
The Closest Intersection with the Lower Trendline will be at about 18,675 and lower price.
TREND IS YOUR FRIEND - BITCOIN CHANNEL INTERSECT at 5,100 THE TREND IS YOUR FRIEND - THE FIRST GOLDEN RULE AT THE FOUNDATION OF TECHNICAL ANALYSIS.
A Multi Month parallel channel from December 2021 is PERFECTLY confirmed by Price Action; The NEXT INTERSECTION with The Lower Support Trendline
Is IN THE PRICE CENTERED ON 5,100 dollar per Bitcoin.
In full agreement with the previous bottom at 3500 ADJUSTED for inflation.
Converges with similar predictions by supply zone and multi-year Bitcoin lowest values behaviour.
CAD/CHF: Gartley Harmonic PatternCanadian Dollar/Swiss Franc forming a awesome Gartley Harmonic Pattern in H1 timeframe. The price it's move into this bearish channel and this it's another opportunity to short CAD/CHF. in that trade, I will put a sell order lmit to $0.7422 CHF. My Stop Loss to $0.7452 CHF and take profit of $0.7352 CHF. This it's an opportunity to find down 69 pips.
The H4 timeframe will closed up this candlestick bearish, if that result bearish, it's a sell imminent in this good trade
I hope that this idea support very well in your analysis.
Good luck in this short position!!!
AUDJPY : LONG SETUP VALIDATIONBullish impulse corrective structure formed after a clear break of a descending channel. The setup looks favourable for a long position.
2 Steps in Drawing a Downtrend Channel A buying strategy in a downtrend.
How to identify buying opportunity in a downtrend?
Not my preference to buy in a downtrend, but that does not mean we should avoid it when buying opportunity arises.
Recognizing it is a downtrend, we keep our buy position short-term; as we are going against the trend.
Discussion: Rules in constructing a downtrend parallel trendline
Rule 1 – First the downtrend line
Rule 2 – Then, its parallel
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