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 ↓
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Descending Channel
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 ↓
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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
Disclaimer:
• What presented here is not a recommendation, please consult your licensed broker.
• Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises.
Descending Channel Breakout for ADN?!?It appears as though ADN has broken flush to the upside of a descending channel which is drawn as two parallel declining lines drawn green on the chart, notice the rejection nearly exactly at the 200DMA.
On the KST there's a bullish cross where I've placed the green finger. More often than not when the KST gets this over-extended there's a sell-off immediately afterward with the rare exception of a continuation of s parabolic breakout on overwhelmingly bullish news.
A retrace to $1.40 is likely to re-test and build support on top of old resistance.
Or we're going to see a re-test of the 200DMA and a blue sky breakout.
Price target & trading range between $9.00 to $0.60c between now and the end of the year.
Exit Time! | long then shortAccording to market signs, buyers are still reluctant to buy at this price, and today could be an opportunity for the bulls to try to push the price above $23,000, but I do not think sellers will allow this price to pass.
Start buying from below $16,000 to $9,000, increase the purchase amount at each stage of the fall.
META: downtrend continuation or reversal?META is down almost 60% in the last year and it looks like there are two possible outcomes from here.
Bullish scenario:
The current pattern is generally bullish and typically anticipates a significant trend reversal.
The Sentiment Index indicator shows a weakening in the Bearish Sentiment which could indicate that a more bullish sentiment could come next.
Bearish scenario:
The price is currently pushed down by two major resistances and any bull attempt must be able to break up both.
A breakdown of the Bearish Sentiment trendline (blue trendline at the bottom) would indicate a strong trend continuation to the downside.
Given the overall market condition, it is likely that META will move according to the macro-environment, however, the two scenarios above outline what to look for.
Remember to do your analysis, be patient and always look for confirmation from the indicators.
Descending Channel on CAD/JPY @ H4A descending channel has formed on the 4-hour chart of the CAD/JPY FX pair and offers a bullish breakout opportunity. The pattern's borders are marked with the yellow lines. The potential entry level is at the cyan line. The potential take-profit level is at the green line. The stop-loss is to be set to the low of the breakout candle (or to the low of the preceding candle if the breakout one is trading mostly outside the channel) - it isn't shown on this chart.
Descending channel breakoutDescending channel breakout in Metrobrand
580 above expecting upside
573 below expecting downside
follow strict risk reward...
EURUSD : LOOKING FORWARD TO A LONG POSITIONCorrective structure possibly forming a descending channel within a major descending channel.
If price rejects at the third touch of the small descending channel , a long position will be favourable with a bullish impulse corrective structure.
KCSUSDT wants another breakout! The price is creating another channel below the daily resistance after the market retested the 18$ as I told you in my previous analysis.
How to approach?
The price needs to create a new breakout from the 18$ and retest it as new support, 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 🦐
SOL/USDT : Breaking below the descending channel! BINANCE:SOLUSDT
Hello everyone 😃
Before we start to discuss, I'll be so glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it!
$SOL has broken below the descending channel on the current daily candle.
So the major movement is expected to be bearish, But there's a formed bullish order-block at the current price level.
That's why we'll need to break below the order-block to confirm both bearish break below the channel and bearish movement as the majority.
- Also, We'll have the opportunity to locate our Short into a proper retest of the broken order-block at $34.00 and aim for May's Low at $20.00!
In other terms, If we get the support for the current order-block, Then it'll activate the pullback scenario towards $58, So it'll come with Possible Long positions, But it's not our main scenario yet!
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Attention: this isn't financial advice we are just trying to help people with their vision.
Have a good day!
@Helical_Trades
Buy GBPUSD , ending cahnnelMarket is losing momentu toward significant area. Market is forming a descending structure towards area thus market reversing.
$ETH is forming a bullish descending channel!* If the price heads lower, we can expect a bounce from the circled area.
A break above this channel would be bullish.
ADA is this a breakout?ADA in downtrend for last 190 days and it seems it is breaking out of the descending channel.
We had expected a pump from 0.8 which was the untested low.
Analysis
The blue line is a trendline which is acting as great resistance and its from ATH
The green line acting as support line
The red line is the line which act as breakout resistance
History shows us there is 2 previous false breakout on ADA
Also 21 and 100 weekly moving average are also acting is resistance.
As it seems there are so many resistance factor on the chart so its safe to assume this another fake breakout and lets wait for a successful retest of the trendline.
ALPHAUSDT in descending channelALPHA approaching weekly support and from there it will go on liquidity hunt towards the untested orderblock.
Analysis:
Trapped in descending channel
Testing 4hour as resistance
Traveling towards weekly support
Will hunt liquidity from below order block
Entry: 0.3161, 0.2646 and 0.2216
Stoploss: whatever you can afford to loss :)
USDJPY | New perspectiveIt is going to be a busy week as eyes remain fixed on Non-farm payroll. Traders will also pay close attention to the ISM manufacturing report on Wednesday and the Conference Board consumer confidence reading on Tuesday which is expected to show a significant deceleration. The main economic release on Friday will be important to see if hiring remains strong. The consensus estimate for the change in nonfarm payrolls is 329K jobs, a dip from the previous 428K. All these shall have a significant impact as we should be expecting a lot of consolidation before a breakout/breakdown. From a technical perspective, I have two scenarios that we can get ready for going into the new week.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
