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Parallels

FTM 15 MINUTES SCALPINGThis is one of my invented 15 minutes scalping method whenever I find the "Ascending Channel" As you can see in the chart the point where price touches the resistance level of the channel (red arrow) is where to place a short or sell. While the point support level (green arrow) is the buy or long zone. This point are not just picked randomly, they are selected based on the following criteria 1. the initial resistance becomes support. 2. the levels at which resistance becomes support have equal distance in between.
by DewyCandles
$SUNW Target PTs 16.50-17.50 and higher...in Parallel Channels: Sunworks, Inc., through its subsidiaries, provides photovoltaic based power systems for the agricultural, commercial, industrial, public works, and residential markets in California, Massachusetts, Nevada, Oregon, New Jersey, and Hawaii. The company also designs, finances, integrates, installs, and manages systems ranging in size from 2 kilowatt for residential loads to multi megawatt systems for larger projects. In addition, it offers a range of installation services, including design, system engineering, procurement, permitting, construction, grid connection, warranty, system monitoring, and maintenance services to its solar energy customers. The company was formerly known as Solar3D, Inc. and changed its name to Sunworks, Inc. in March 2016. Sunworks, Inc. was incorporated in 2002 and is headquartered in Roseville, California.
SLong
by UnknownUnicorn19246015
XRP Continues To Deliver Profits [Second Iteration]XRP is clearly bullish over the last week. The uptrend is likely to continue as all cryptocoins are rising and rising. However, the difficult part is always to determine a great entry position as in this case of a short you wouldn't want to buy too low. I will continue this idea, after an incredibly successful trade last time: We can keep using the parallel channel to get a few more good trades in. After the confirmation on this resistance, we can now switch to a short position. The simple "buy low, sell high" concept is deceivingly difficult. For a short, obviously we have to turn this around. In this trade set-up I show that in an upwards trending parallel channel, a retracement to the support line can be a great place to buy. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
BITSTAMP:XRPUSDShort
by Trading-Guru
3
$XRPUSD: Another possible longterm idea for XRP... Very Bullish!Hi everyone, Here's another XRP idea for the upcoming Q4 2019 and until Q3 2020. In this analysis, I show 2 prominent parallel trendlines based on S/R flips throughout XRP's history. The lower and upper trendlines (dotted) are parallel extensions to the other two. Given the imminent alt season and XRP's bullish signs after being severely oversold, along with great fundamentals, this idea speculates that September 2019 may be the best month for XRP this year, hitting previous ATHs and consolidating upon it for several months, before another moonshot around May 2020. I'm trying to present various possibilities for $XRP's bullish PA in the coming year or so. No one can really predict how things will play out exactly. Cheers, Leb Crypto
POLONIEX:XRPUSDLong
by Leb_Crypto
4
LTC is leading the market/giving hints at what btc will doAfter looking closely at the parallels between LTCs price action after it's 1 day golden cross, and BTC's current price action, I'm convinced BTC is taking a very very similar path that LTC has taken and that LTC is leading the market and can be looked at to get a clue of where BTC wiil soon head. For example, from the point of LTCs 1 day golden cross in March to when it finally saw a correction, the price action rose 118%. If we measure a 118% increase from where BTCs golden cross occurred we get a range of around 9.9k we also conveniently have a very valid horizontal resistance line at that range that if we did wait until then to correct we would have the set up for a very valid looking and massive cup and handle on btc. Exactly like we are currently now seeing LTC do. As soon as LTC corrected it began forming its inverted head and shoulder handle as shown here on the chart. It also corrected 31% which if btc continues to follow ltc from there it tells us btc could correct after hitting that horizontal resistance line from 9.9k all the way back down to that 6.6k range. it would then spend 1-2 months creating a handle to that cup before it finally broke back above the neckline and at that point if it triggered a breakout from there the breakout target would be 16-17k! As we can see on LTC it is now throwing wicks above its cup and handle neckline and if it were to trigger its breakout it will more than double in value from where it currently is now. All of this potential price action also finds further confluence with the breakout target of the total market caps falling wedge that we charted way back in February thats target would essentially cause the total market cap of crypto to triple to quadruple. We are ow almost halfway to the total market caps target with still plenty of room to go up. You can find that chart in my archives. Anyways keep a close eye on the correlation between LTCs price action and BTC's because I have a strong feeling LTC is going to be giving us hints at what BTC may also do.
BITFINEX:LTCUSDLong
by DrDovetail
2
XRP @ TRAFFIC INTERSECTIONXRP coming along the traffic intersection while having an indecisive moment... If the lights won't turn green asap, an inverted cup with handle formation is a possibility and then it doesn't look too good... If break-out of the parallel, and idem dito pennant occurs, a crossing of the 50 and 200 exp. moving averages will happen. If the break-out fails or a smaller inverted cup (handle) will perform, the bullish trend will have to wait and it could go sideways again. A fast drop to the previous low is a possibility as well, but it will only help a stronger bullish reversal. (I am not so fond of moving averages) as they don't really predict movements, but happen after the action most of the time (you can think what you want) Real patterns in combination with correct Elliott wave is a must. ... and of-course BTC !
BITSTAMP:XRPUSD
by Wolverinos
Support from 20-50-200 EMA bringing BTC to top of parallel.I'm experimenting with parallels here, as a way to target long exits and stop-losses for swing/day trading strategies. I've noticed the tendency for BTC to travel in parallel channels, and I think this may be a good strategy for a beginner trader to use in order to understand price movements and enter/exit with a little more certainty. Here, on the hourly, BTC has broken up above the 20-50-200 EMA and looks to have some upside to the top of the channel, after which it will probably test the bottom and either bottom out, or bounce up again. My aim is to trail my stop-losses higher as BTC rises, bringing my stop losses in line with the bottom of the channel, until it hits my target, if at all. Worst case scenario is I take some profit on the stop loss. I'm using this strategy because of losses suffered during the initial downtrend formation, during which I was not available to manage long positions, and took some losses. The purpose of these posts in general are to keep a running journal of my ideas, intentions and trades, so that they don't get lost while positions are open. I won't encourage anyone to take the trades I mention, as I am an amateur who is still learning.
BITFINEX:BTCUSDLong
by HanktheTank
Bitcoin: BTCUSD Positive whilst tracking within parallelsBitcoin Coinbase Chart Update Bitcoin was hanging in the balance by 19:00 est/midnight gmt just before far Eastern markets opened and although it was looking in a bad way with the threat of an H&S top formation beginning to loom large above it we can never forget that this is Bitcoin. It's capable of amazing escape acts that make 'Prison Break' look lame and amatuerish sometimes. Bitcoin does what it wants - and we have to follow it and never look to fight it. How many have tried to second-guess Bitcoin and come unstuck ? All of us are familiar enough with the ways of this mesmerising monster to know that by now. Bitcoin leads. We follow. Anyone who thinks they can switch roles is likely to get themselves a new one ripped faster than they can take their pants down. Again. So once more Bitcoin refused to lie down overnight, breaking higher from the new parallels it had formed and after 2 false breaks yesterday, the first that got stopped out for around a 50 point loss and a second break that scooped 200 to 300 points before being stopped out yet again (as well as short from 8170 that had to have a trailing stop lowered behind it as it fell through the break level and should therefore have at least broken even) - the weekend proved difficult and challenging and all in all those who took time out were the winners yesterday - until midnight gmt at least The new week saw Bitcoin finally find some buyers and those who waited patiently and didn't get bored or tired by the wait finally got their reward - a good break-out emerged to the upside just at the witching-hour, midnight gmt, giving a good chance to get long again around 8300-8350 on Coinbase and Bitstamp charts. Since then Bitcoin has had two 500 point pulses higher - both hitting the resistance lines above it almost perfectly on Coinbase (line is at 8821, high so far today = 8817) though we can have only captured a half of that total so far even if you were around for the break when it finally arrived. The second 500 point or so pulse upwards started as Europe opened up for business and so those who missed the earlier break got a good second chance to get long off the parallel at around the 8300 level and just above. Day traders are closing out again at an obvious point but not creating much selling in their wake now. Usually we get 3 to 4 pulses upwards before the rally is spent so if still long can stay that way and consider raising the stop to under 8690 on Coinbase as if it breaks below here it will likely revisit the lower parallalel again where it can be bought again with stops below the parallel for small loss if wrong. As usual Bitcoin should stay positive whilst it travels within the parallels and only turns back to negative if and when the lower parallel is lost.
COINBASE:BTCUSDLong
by sumastardon
1
Bitcoin: BTCUSD Officially left the Building Last Night Bitcoin Update Still strong whilst within the new Parallels Having left the building (contraints of the last paralllel) last night Bitcoin went on a tear, nothing to hold it back now. After bottoming a second time at 13083, just under the 13210 next buy point and under the old parallel by 130 points...this would have stopped out the long from 13210 (in all likelihood, most probably using 100 point stop at that point so a good trade that would have been stopped out was at least avoided. But that doesn't excuse not getting long agin from 13826 level once it had been regained and thoroughly tested from above and survied the onslaught perfectly, with Bitcoin coming back down to test that level precsiely before bouncing away and now 900 points higher still...we should have had ALL that trade, every damn point. Another 900 points not won. Would trade that notional 100 point loss for that win though. Shoulda woulda coulda. Move on now.... Now Bitcoin is tracking a new set of parallels and stays good whilst within them. But it's beginning to tire and we are close to the 15 number now. Stay long here if you are already and only close out once the lower parallel is lost, looking for another test of 13826 where we look to get long again with stops 60 points lower if touched.
BITSTAMP:BTCUSDLong
by sumastardon
7
BItcoin: BTCUSD Tracking within the the parallel, still steadyBitcoin Dollar BTCUSD Steadily grinding higher within the parallels Lost the track of this yesterday, getting precise angle of the parallels out by a critical couple of degrees. It meant the break of the parallel yesterday was out and so far no bears have dared to challenge this ascent. Very bad and it means that wins here on the day were severely eroded by bad calls off a badly drawn parallel that was still shaping itself into perfection during the day. The idea was to buy off the parallel and only turn negative again once the parallel was broken. Right idea/ wrong parallel. Well now the parallel looks very trustworthy. There are 4 parallels now, with margins of error denoted by the two outside parallels. Bitcoin is still a buy off any retest of the lower parallels. It becomes a major short again only when the lowest parallel is broken to the downside. It should then become resistance on retests, showing that the trend is now turning negative in the near term and finally opening the door to bear territory in the nearer term. First support lies at 9715 - a brek below here triggering a good shorting opportunity back to 9365 at least and quite likely to 9036 before the rally recommences.
BITSTAMP:BTCUSDLong
by sumastardon
Bitcoin: BTCUSD Update Key Levels inside the parallels now Bitcoin BTCUSD Badly Drawn Boy Wow. Broken the upper parallel and now consolidating around where we sold. It looks like a buy from 8530 but must hold here or it's likely to fall away more, potentially back to 8410 at lowest so stops on longs from here need to be quite tight underneath. Bit slow to see the new fantastic parallels emerging...should have used that and not the other dying parallels from the last couple of days as exit.My slowness, looking at other stuff - But have left the old parallels on which may look confusing but it's interesting so see these old resistance lines now seem to act as support, containing the consolidation inclose up...draw these lines on your chart! They live...so no bying under that big new powerful parallel now in control of the upside, and careful with day trading...you can seewhat it's doing...dancing between the parallels...so wild. Use this...fine lines..fishing...for now. It should build a little flag as it does it...two strikes on the lower line will show hot. Otherwise not so much near term And the Alts V Bitcoin will get some respite now so they are a buy...You got this now. yes?
BITSTAMP:BTCUSD
by sumastardon
19