Parallel Channel

A channel can be used as an entry pattern for the continuation of an established trend, as part of a trend following strategy. A channel forms when price action is controlled by 2 parallel, sloping lines and has tested each of these lines at least twice. An ascending channel indicates a bullish trend, with the support line connecting consecutive higher lows and the resistance line connecting consecutive higher highs.

A descending channel indicates a bearish trend, with the support line connecting consecutive lower lows and the resistance line connecting consecutive lower highs. Generally speaking, the support line of an ascending channel is a buy zone and the resistance line of a descending channel is a sell zone, while the opposing lines are profit-taking zones. A common stop level lies on the other side of the buy or sell zone. Conservative traders may look for additional confirmation before entering a trade. TradingView has a smart drawing tool that allows users to visually identify channels on a chart.
Fxprotrader Fxprotrader USDJPY, 60, Short ,
USDJPY: USDJPY: Selling is Our Option
352 0 30
USDJPY, 60 Short
USDJPY: Selling is Our Option

Price broke below the uptrend (corrective structure and is now moving into a descending channel having already bounced from its lower paraellel. I will keep an eye to see if price reaches the upper parallel of the channel where previously found good resistance and wait for a sell setup completion. Like and follow to get updates..!

AndresThomasShirakawa AndresThomasShirakawa XRPBTC, 240, Long ,
XRPBTC: RIPPLE/XRP,  the altcoin with the greater volume and its future.
938 3 19
XRPBTC, 240 Long
RIPPLE/XRP, the altcoin with the greater volume and its future.

In a downtrend, a trade might be entered at the trendline and exited at the channel line. A lower low below a descending channel can signal continuation. A higher high above the low of an ascending channel can signal trend change. As I am optimistic, I know the price will break up. You can also perform a pullback by returning to the channel and then shooting at ...

Fxprotrader Fxprotrader GBPJPY, 60, Long ,
GBPJPY: GBPJPY: Potential Buy at Lower Parallel of a Channel
151 0 19
GBPJPY, 60 Long
GBPJPY: Potential Buy at Lower Parallel of a Channel

Price is in a downtrend, moving into a descending channel. Most likely it will reach the lower paralllel where we should start watching foe a buy setup completion aiming for the slidinig paralllel in the middle of the channel. Like& follow for updates..!

Fxprotrader Fxprotrader USOIL, 60, Short ,
USOIL: Crudeoil: Potential Sell Opportunuty
160 0 16
USOIL, 60 Short
Crudeoil: Potential Sell Opportunuty

Price broke below the rising channel it was moving in after finding resistnace at the upper parallel of the descending channel better seen in the 240min chart below. We should now wait for a correction towards the broken trendline and see if we ca identify a sell setup in order to go short with crude oil. 240min ...

Fxprotrader Fxprotrader EURCAD, 240, Long ,
EURCAD: EURCAD Potential Buy Opportunity at Key Support Level
94 0 16
EURCAD, 240 Long
EURCAD Potential Buy Opportunity at Key Support Level

Price is moving into a rising channel where we see it heading towards the lower parallel, into a corective structure. In case we see it reaching the parallel we should start watching closer for a buy setup completion, aiming for the upper parallel.

Fxprotrader Fxprotrader USDCAD, 240, Long ,
USDCAD: USDCAD: Potential Buy at Lower Parallel of a Rising Channel
126 0 18
USDCAD, 240 Long
USDCAD: Potential Buy at Lower Parallel of a Rising Channel

No question how beautifully the slope of this upmove is working.. Just watch at the parallels of the rising channel and you may see how many times finds good support or resistance at its parallels. In case we see price testing the lower parallel of the channel start watching for a buy setup. If price break below the parallel our view changes and we watch for ...

Fxprotrader Fxprotrader NZDJPY, 60, Short ,
NZDJPY: NZDJPY: Nice Level to Watch for Shorts
67 0 14
NZDJPY, 60 Short
NZDJPY: Nice Level to Watch for Shorts

On its way up price found resistance at the upper parallel of the descending channel, ot bounced and broke below the smaller rising channel. It's now correcting and heading once again to to test the upper paraller of the larger channel. When it reaches the trendline start watching for a sell setup completion Like & follow to get updates..!

Fxprotrader Fxprotrader GBPUSD, D, Short ,
GBPUSD: GBPUSD: Channel Trading at Its Best..!
255 0 22
GBPUSD, D Short
GBPUSD: Channel Trading at Its Best..!

Looking at the daily chart of GBPUSD, we may see that price broke below the small rising channel it was moving in after finding reistance at the upper parallel of the larger channel. In the upcoming week we should wait for a sell setup completion, like a vearish flag and sell GBPUSD aiming for the lower parallel of the larger rising channel. I will update if a ...

Fxprotrader Fxprotrader NZDUSD, 60, Short ,
NZDUSD: NZDUSD: Potential Sell at Resistance Upper Parallel of Channel
153 2 18
NZDUSD, 60 Short
NZDUSD: Potential Sell at Resistance Upper Parallel of Channel

Price is testing the upper parallel of a rising channel where any sell setup completion would be a great selling opportunity. In case you identify one based on your strategy try to aim for the lower parallel of the channel, but don't take your profits. Just move your stoploss at BE and see if price has the potential to break below the median line of the pitchfork. ...

Fxprotrader Fxprotrader AUDUSD, 240, Short ,
AUDUSD: AUDUSD: Channel Breakout Opens Doors for Shorts
156 0 18
AUDUSD, 240 Short
AUDUSD: Channel Breakout Opens Doors for Shorts

Price broke below the rising channel it was moving in. Waiting for a sell setup completion is what I am planniing to do in in the upcoming week. Like & follow for updates..!

nick.trader4 nick.trader4 AUDUSD, 240, Short ,
AUDUSD: Aussie Dollar 4hr chart- Massive Risk:Reward
43 0 6
AUDUSD, 240 Short
Aussie Dollar 4hr chart- Massive Risk:Reward

Counter trend pullback seems to have come to an end with the double top confirmation bringing price back into the downward channel. Price has bounced off support and looking to rise to retest the top of the channel. This could be a nice short setup with favorable risk:reward.

nick.trader4 nick.trader4 USDJPY, 240, Short ,
USDJPY: USDJPY- Safe haven Yen continues to rise.
39 0 5
USDJPY, 240 Short
USDJPY- Safe haven Yen continues to rise.

Major news and fundamentals coming into play within the next few weeks. Continuations of a weaker dollar is still the motive until US data improves- this weeks NFP being the first shot. Anyways.. price has been consolidating in a few minor ranges within the major range of 111.500 and 110.500. Last week we broke an ascending channel in accumulation now waiting for ...

theodor87 theodor87 USDJPY, 60, Short ,
USDJPY: USDJPY
10 0 5
USDJPY, 60 Short
USDJPY

Price is moving inside of ascending channel. Overall trend is down so this is correction of previous impulse.

FrancescoChiappe FrancescoChiappe NTIP, D, Long ,
NTIP: NTIP BULLISH
5 0 4
NTIP, D Long
NTIP BULLISH

Hold patents until 2020 (acquired in 2016) w/ companies like Microsoft and other big names. This has allowed them to have a large steady income and have cash to fund more patents. This is to explain the company itself is stable and is backed by great management that will not pose risk in any way. Technicals show the creation of price channels that almost correlate ...

Julia_NordFX Julia_NordFX AAPL, D,
AAPL: Forex Forecast for EURUSD, GBPUSD, USDJPY and USDCHF for May 29
23 0 3
AAPL, D
Forex Forecast for EURUSD, GBPUSD, USDJPY and USDCHF for May 29

First, a review of last week’s forecast: - As we wrote last time, whilst experts and technical analysis make predictions, it is politicians that make reality. The President of the United States Donald Trump spent the past week in Europe, causing the scandals associated with him to temporarily quiet down. This led to a lull in the financial markets, which neither ...

Abelupus Abelupus LTCUSDT, 30, Long ,
LTCUSDT: LTCUSDT Change of trend
47 1 4
LTCUSDT, 30 Long
LTCUSDT Change of trend

We expect validation of bullish channel, waiting for a new minimum May. Input when confirming rebound. t.me/AbelaCoin in Spanish

theodor87 theodor87 USDNZD, 60, Long ,
USDNZD: USDNZD
10 1 4
USDNZD, 60 Long
USDNZD

Price is losing momentum in down trend and its moving inside of descending channel which indicates trend reversal pattern. Also RSI showing divergence which is another indication for trend reversal. Possible one more down move to 61.8 fibb level before reverse.

AndresThomasShirakawa AndresThomasShirakawa STRATBTC, D, Long ,
STRATBTC: STRATIS VS. STRATIS
136 2 8
STRATBTC, D Long
STRATIS VS. STRATIS

Within a rising channel and with a healthy rise, this coin knew to give us many joys. At this moment in a time frame of 1 day we see that besides being in a moment of consolidation, is also fighting against two resistances. Once you achieve it there will be a low, zig zag to then get to wave 5. If it were to change from now on the course to touch the bottom of ...

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