Trading channelsHello,
Channels are great setups to catch reversals. When price trends upward or downward and fits between two parallel trendlines, the chart pattern is called a channel.
Channel trading is a popular strategy in financial markets that involves identifying and trading within a channel formation on a price chart. A channel is formed when a financial instrument's price movement oscillates between two parallel trendlines, one acting as a resistance level and the other as a support level.
Traders can use channel trading to identify potential buying and selling opportunities. The strategy involves buying when the price reaches the lower trendline (support) and selling when the price reaches the upper trendline (resistance). Traders can also use other technical indicators, such as momentum indicators and moving averages, to confirm their trades.
When trading channels, it is important to consider the strength of the channel and the overall trend of the market. A strong channel is one that has been tested multiple times and has a consistent slope. If the channel is weak, it may be more susceptible to breakouts and false signals.
Channel trading can be used in a variety of financial markets, including stocks, currencies, and commodities. However, as with any trading strategy, there are risks involved, and traders should carefully consider their risk tolerance and develop a solid trading plan before using this approach in the markets.
Good luck
UBA: Downtrend continuityAs you see on the chart we have a big probability to have a downtrend continuity.Thanks!
UBA: Analysis: Two situationsWe are in a one-day bullish channel situation here. When you look on the chart, we are above our vwap indicator which has taken a green color. This means that the buyers are above the sellers. We could have a nice uptrend if and only if the resistance line is forcefully broken by a large green candle and accompanied by large green volume. Furthermore, it should be noted that the market is unpredictable. So let's be careful and vigilant. Indeed, the market can also go down, however, if the vwap indicator as well as the support line are forcefully broken by a large red candle and accompanied by a large red volume. Thanks!
Analysis: two situationsAs you see on the chart we have two situations. We will have a big probability of an uptrend if we have the breakout with force the resistance line by a big green candle with a large green volume. In other hand, we could have also a big probability of a downtrend if we have the breakout with force the vwap indicator and the support line by a big red candle with a large red volume. Thanks.!
heading for 14.00we just witnessed the handlers breaking the all time highs, this gave us a nice BOS which we believe we just need to go down to mitigate a block below before we then shoot to at least hit 14.00
uptrendIt seems like Mrs Oils will soon be trading at 28 where she traded for sometime, we can see a change of direction taking place and now we will be rolling on an uptrend
Down TrendIt seems like this guys might start declining on a downtrend, we can see equal lows below which we believe will be broken
Might resetEver since this guys got listed, they lost so much weight we now believe they will gain back at they form a nice reversal
Flag Pushing us upWe might see this flag pushing us up , this is nice compression which we believe will catapalt us
Change of CharacterWe might see this gentleman push through that last low and break it to create a new low which will change character and push this price down
Back to 1.60??We might see IKEJA push hard to reach 1.60 by the end of the year to bless everyone with good profits.
Flour mills on the runHello traders how are you, this is my first time publishing idea on NSE , as you can see from the chart I'm expecting bull run until the marked target which is is 34.4 or higher a bit.
Note DYOR
TRADE PLAN FOR FCMB FOR PROFITSHello traders, a look into FCMB for profits. entry and target is indicated .
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