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Descending Channel

GBPJPY - Descending ChannelHello traders, it's been a wonderful week for me and i hope u made some profits from our previous analysis, CADJPY played out accordingly. Currently, GBPJPY hit it's descending channel support last yesterday and immediately started another move towards the resistance... This is another opportunity to go LONG today till the next coming week. STOP Loss below the support, don't fail to trade with proper risk management... For more free analysis, kindly like, share and follow..
Long
by bluebellfxtrading
USDCAD looking for a new recent highs 🦐USDCAD on the daily chart is moving into a descending channel. The price is now testing a confluence area between a daily resistance and the dynamic resistance and we can expect a test of the 1.30 area if the market will have enough strength to break above. How can i approach this scenario? I will wait for a break of the structure and in that case, i ll check for a possible continuation for a long entry point according to the Plancton's strategy rules. --–– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger
Long
by InkyGrip
2
BTC: SHORT TERM PLAN!!Hello everyone, if you like the idea, do not forget to support with a like and follow. Welcome to this BTC update. BTC is bouncing off nicely from the $30k level so far and holding above $31k very well. BTC is forming a descending channel like pattern in the 4hr time frame where breakout of this channel is still pending. Once BTC breaks this channel we can expect a good bounce. BTC has a resistance at $37.5k so in the short term we might see a pump up to $37.5k after breaking out from the channel. For successfully playing out this scenario BTC needs to stay above $30k. If any 4hr candle close below $30k will invalidate this pattern. 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
2
BTC/USDT : Reached channel's bottom!BINANCE:BTCUSDT BINANCE:BTCUSDTPERP 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! $BTC has reached the descending channel's bottom and so there're some similarities to check for... Last time that $BTC has reached the channel's bottom ( Formed the channel bottom); It just pulled back above our S/R local Line located on $~40600 and it has retested the channel's top. Now we have the same bottomed candle formation and the local S/R Line above. Also on wider Look, We have a stiff support zone at $33400 - $32800. So based on our data; $BTC can pullback from the local channel's bottom or the lower Support zone! 📝 The main bias is still bearish and I won't use this possible pull-back to take advantage! I'll only look for possible Longs when we get the closings above $35500 straight from our current level. - The first confirmation should come to our current candle close just like the marked one. - The second confirmation should be the candle closings above $35500, Otherwise, It'll drop to the local support zone it'll invalidate our Long position's opportunity ( Trigger will be closings above $35500 ). - Be informed that our possible short-term bullish will be canceled if we get the weekly closing below $35650. The importance of the mentioned line is just like $42000 (The main bias changer on weekly TF); It's been 280 Days (40 Bars/Candles) Since our last weekly close below $35650! All of the given information is for acknowledgment only! ⚠ The possible pullback won't invalidate our Short-Term positions yet! Hope you enjoyed the content I created, You can support us with your likes and comments! Attention: this isn't financial advice we are just trying to help people with their vision. Have a good day! @Helical_Trades
by Helical_Trades
39
BTC QUICK UPDATE! MIGHT SEE $38K SOON!!Hello everyone, if you like the idea, do not forget to support with a like and follow. Welcome to this BTC update. BTC is trading inside descending channel in a 10hr time frame. In this channel, we see that BTC is forming Higher lows and lower lows. So from here, we might test a new LL which is around $35k. After hitting that new LL we might see a relief rally which will take us to $38k. If daily close above $38k then we again see a bullish rally otherwise there is a high chance that we reject from $38k. Let's see how it goes. 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
1
ZIL/USDT : Reached channel's top! BINANCE:ZILUSDT 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! $ZIL has formed a descending channel and it has reached the channel's top. Despite the current market's bias, I'm expecting more corrections to come; Because of the recent bounce without any retracement. In macro overview, It must come with a fake-out above the channel and experience the rejection from the higher resistance zone at $0.11. So based on the data we have, There'll be opportunities to take Short on... - On the rejection of $0.11's resistance zone and current rejection from S/R line and channel's high. - On the proper retest of broken lower S/R zone at $0.85. 🔴 Invalidation should be located as active management above the higher resistance zone. Hope you enjoyed the content I created, You can support us with your likes and comments! Attention: this isn't financial advice we are just trying to help people with their vision. Have a good day! @Helical_Trades des
by Helical_Trades
24
OGNUSDT is creating a descending channelThe price is creating a descending channel on the 4 timeframes and now the market is getting the liquidity from the daily demand. At 0.5 $ the price has a resistance. How we can approach it? If the price is going to have a breakout from the descending channel and retest the 4h resistance as new support, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
4
SPX500USD dropping to the 4300? 🦐SPX500USD on the 4h chart is moving in a descending channel and after a test of the upper trendline the price in the late session of yesterday dropped to a previous support area. The price in fact has been rejected by the confluence zone between the 0.5 fibonacci area and the dynamic resistance and is looking now to break below the lower structure. How can i approach this scenario? I will wait for a break of the area and in that case i will check for a nice short order according to the Plancton's strategy rules. –––– Follow the Shrimp 🦐 Keep in mind. • 🟣 Purple structure -> Monthly structure. • 🔴 Red structure -> Weekly structure. • 🔵 Blue structure -> Daily structure. • 🟡 Yellow structure -> 4h structure. • ⚫️ Black structure -> >4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
OANDA:SPX500USDShort
by InkyGrip
EGLDUSDT Wants to have a breakout from the Weekly resistanceThe price got a rejection from the weekly resistance on 164$ and not the price is creating another bull flag above the previous descending channel the price retested the previous dynamic resistance as new support exactly at 0.618 Fibonacci level. How to approach? The price needs to have a breakout from the weekly resistance and descending channel. Beware to the left, you can find the supply zone. So if the price is going to have a breakout, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
2
APENFT shining star with high protentional 🚀Hello, today I want to analyse this token fundamentally and technically ✔️ based on the chart the price is close to channel resistance, and we can see an appropriate amount of the volume for the price ✔️ if this volume continues, and the price breaks the channel resistance to the upside, we can see more gain 🚀 this token fundamentally has wonderful potential and great future plan for NFT world 🌟⭐ we expect great pump for the price 🚀
Long
by MadWhale
5
What are you up to EOS?If you zoom out on a daily chart, EOS had quite a brutal 12 months, from braving $15 (14.9-ish) to barely worth half a bottle of Fiji water. It looked like EOS was ready to retrace a little yesterday, but I was early on volume, it was 50/50. Today however volume % is in a decent range, and general TA metrics are ripe for a retracement (again). Two things can happen at this S/R grey channel, Bulls will try to pump last minute, or a mild retracement towards 2.44. Volume profile shows the Bears dominating today, making the retracement a more likely outcome (but I'll wait a few hours to make a decision). Burdened with 2 descending channels, EOS is still eyeing 2.8 and 3-2.9 range. Both are Fibonacci levels, so it's not set in stone. Either way, channels are king on this chart. This is my Thesis, targets are purely hypothetical based on my analysis. This is NOT Investment and/or Trading Advice. Happy Trades! ❤️ If you enjoy my ideas, Please like/comment, it means a lot, Thank You! ❤️
by WhoIsWu
2
KCSUSDT is creating a descending channelThe price is creating an ascending channel on the daily timeframe below the weekly resistance after the price got liquidity as I told you in my previous idea on 0.886 Fibonacci level On 4h timeframe, the price is creating a descending channel and now the market is testing the 20$ resistance How to approach? the price needs to have a clear breakout from these structures with volumes and momentum, the market created a strong resistance on 21.2. So if the price is going to have a breakout from the descending channel, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
ETH/USD: Bearish channel flagEthereum forming a bearish channel flag and I will show you my specific target to trade in H1 timeframe, as also this what Ethereum it's right now it's in this pull back in hte moment of this analysis and we see a little bearish rising wedge that you can to do better in H2 or more to look it's in 30 minutes timeframe Now, I see that as we break out this chartist pattern and make another pull back in both mode in these charist pattern bearish channel flag and bearish rising wedge, it's a perfect entry to short Ethereum now. This it's the situation in Ethereum right now in H4 and we're into this bearish channel that we could to see a drop to $2,821 USD approximately. So guys, my trade it's the following. I entry in short position around of $3,025 USD, SL to $3,096 USD and my specific target will be to $2,906 USD. This it's a risk/benefit of 1:2 to trade Ethereum. Good luck!!!
COINBASE:ETHUSDShort
by harisonhbn9718
Bullish Flag for TNY?Or, will we see a sharp decline due to a hole in the wall front running leaked financials that are dismaying? And maybe even a good ol Tinley fashioned PP below the trading price to compliment the short-selling pressure of TNYBF and bearish sentiment. I have placed green arrows on the chart to signify fake-outs of the Macro Descending channel and Micro Bull flag or Descending triangle, to be determined in due time. It's possible Tinley is currently in the process of another fake-out in real-time, the CM_ Williams Vix is flashing green, this normally happens before bullish price action. But the sp is currently declining. If Tinley breaks above the 200 DMA and consolidates above the micro-pattern it's a very bullish signal, trade accordingly. Possibly a W Double bottom has occurred, only time will tell if TNY creates another higher low. glta
CSE:TNYLong
by ScotianBot