Parallel Channel

A channel can be used as an entry pattern for the continuation of an established trend and can be 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 is 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 PRO USDCAD, 240, Long , 9 hours ago
USDCAD: USDCAD: Watch for a Buy Setup at This Key Support Level
165 0 13
USDCAD, 240 Long
USDCAD: Watch for a Buy Setup at This Key Support Level

The upper quartile of a downsloping median line in addition with the lower parallel of a rising channel, create a strong support level where we should watching closer for any buy setup completion.

NathanPuri NathanPuri PRO USDJPY, D, Short , 4 hours ago
USDJPY: USDJPY: Sticky channel touches 50%
39 0 8
USDJPY, D Short
USDJPY: Sticky channel touches 50%

The day chart is very sticky in its bear channel... Sell if breaks below 112 or if it meets resistance at 113.600. In two days time it will leave the cloud setting up a great path of least resistance down to the lower support of the channel.

Mt.BFX Mt.BFX XAUUSD, W, Long , 7 hours ago
XAUUSD: Long-term Gold - Gap hunting.
105 0 6
XAUUSD, W Long
Long-term Gold - Gap hunting.

Confluence with multiple methods of TA. Volume shows strength. Moving Average 50 with -50 offset is the best indicator of trend when paired with structural analysis. MACD crossing bullish; big divergence and continuation signal. Bullish Channel established. This is not a buy signal, this is strategy testing.

JXMFinancial JXMFinancial GDX, D, 18 hours ago
GDX: Out of parallel channel
55 0 5
GDX, D
Out of parallel channel

Could be setting up IHS (or BF). Watch break of neckline with volume

crashman111 crashman111 ORE, D, Long , 14 hours ago
ORE: $ORE.ax ready for a rally off support
17 0 5
ORE, D Long
$ORE.ax ready for a rally off support

Good price recovery with bullish candlestick strength over half decent volume. Price bounced off long term support level with the ability to have a very tight stop. Risk reward ratio is very good at this level. MACD and STOCH are oversold and the downward momentum is weak with OBV indicator. Heiken Ashi charts have gone green and all confirmed with an inside ...

luckylegs10 luckylegs10 DXY, 240, Short , 14 hours ago
DXY: 02-23 USD Chart with Gold prices (by Got Goldies)
38 0 4
DXY, 240 Short
02-23 USD Chart with Gold prices (by Got Goldies)

I was just fiddling with the down channel for the 4 month USD top.. a top big enuf to rival a 4 month Gold top from last summer. What do you think of the prices?

JuanHernandez JuanHernandez PRO EURAUD, 240, Short , 8 hours ago
EURAUD: Trend Continuation
22 0 4
EURAUD, 240 Short
Trend Continuation

Fundamental Analysis: My expectative for the EUR is bearish in the long term, because its monetary policy is quantitative easing, securities from the market in order to lower interest rates and increase the money supply. For the AUD my sentiment in the long term is neutral, as the RBA are expected to remain on hold for the foreseeable future with futures markets ...

AcornWealthCorp AcornWealthCorp PRO DIS, D, Short , 14 hours ago
DIS: DIS - Upward channel or Rising wedge breakdown short from $108.5
11 0 3
DIS, D Short
DIS - Upward channel or Rising wedge breakdown short from $108.5

DIS was going higher within an upward channel or rising wedge formation. It seems broken down the pattern, retested the broken support and getting ready to rollover. It would be a good short, If it breaks below 50 day MA, and for trade we would consider $110 May-17 Puts * Trade Criteria * Date First Found- February 23, 2017 Pattern/Why- Upward channel or Rising ...

sergio.navarro.33865 sergio.navarro.33865 PRO EURUSD, 60, Short , a day ago
EURUSD: A SIMPLE IDEA TO SELL
117 0 10
EURUSD, 60 Short
A SIMPLE IDEA TO SELL

Technical Vision: The pair is developing a bearish channel, at the moment it seems that the Flag retracement was near completion. When the flag breaks, it will be time to sell. Good luck and take care of your capital.

luckylegs10 luckylegs10 GOLD, 180, 2 days ago
GOLD: 02-22 short term Gold chart ( by Got Goldies)
118 0 5
GOLD, 180
02-22 short term Gold chart ( by Got Goldies)

Here we go again.. this time in a bigger down channel. Channel broke and is not in a down channel.

CamposTrading CamposTrading EURUSD, 240, Short , 2 days ago
EURUSD: Down Channel/Resistance/FIB Clusters
21 0 3
EURUSD, 240 Short
Down Channel/Resistance/FIB Clusters

Downwards channel Horizontal resistance, lines up with RED .618 FIB & BLACK .382 SELLING inside the green box TPs are the bright green lines

FUNTRADER-Vera FUNTRADER-Vera XAUUSD, 15, Short , 2 days ago
XAUUSD: XAUUSD: WATING FOR THE SMALL CHANNEL BROKE TO CONFIRE BEAR
211 0 9
XAUUSD, 15 Short
XAUUSD: WATING FOR THE SMALL CHANNEL BROKE TO CONFIRE BEAR

Traders: As chart shows, there are 3 channel for gold to follow the trend right now. Now gold get the confirmation of bear by breaking the channel after hitting Y which is wave 3 of the small ascending channel. Big trend alwasy start with the end of last small trend. Consider this is a start for gold to drop , easy to setup right now. Less is more!

info55 info55 ICG, D, Long , 2 days ago
ICG: Channel Trading Opportunity
7 0 3
ICG, D Long
Channel Trading Opportunity

-Price trading within channel -May reach as high a previous high

Fxprotrader Fxprotrader PRO GBPUSD, 240, Short , 8 days ago
GBPUSD: GBPUSD Sell Opportunity at Resistance Level
665 0 29
GBPUSD, 240 Short
GBPUSD Sell Opportunity at Resistance Level

Price moves in a descending channel, and at the moment we may see that has reached the upper parallel of the channel, where already we have a rejection. In case we have any sell setup completion, it will be a nice idea shorting GBPUSD with a potential target the lower parallel of the channel

pardis pardis TOP EURSEK, 240, Short , 2 days ago
EURSEK: watching....sell
103 0 25
EURSEK, 240 Short
watching....sell

chart is moving inside the ascending channel... it like to receive to the lower channel line so im looking for brakout and seel position

taming_the_mind taming_the_mind PRO NZDUSD, D, Long , 2 days ago
NZDUSD: Long NZDUSD breaking out of a downward channel
148 0 9
NZDUSD, D Long
Long NZDUSD breaking out of a downward channel

Final Target 0.7361 1st Target/resistance : 0.7229

ronfkingswanson ronfkingswanson PRO BTCUSD, D, Long , 2 months ago
BTCUSD: Sometimes the best thing to do is just scribble, wait, and HODL
1708 4 38
BTCUSD, D Long
Sometimes the best thing to do is just scribble, wait, and HODL

This is that chart -- the one that I never published, but should have long ago, because for once I stopped trying to make a technical analysis, grabbed the marker and just scribbled a potential path based on the price action in this two-year long bull channel. Back on June 16th, as the rally was peaking in the blue zone, I freehanded a sloppy pink scribble which ...

Wave-Trader Wave-Trader PRO EURJPY, D, Short , 2 months ago
EURJPY: EURJPY Setting up for Big move
4411 12 109
EURJPY, D Short
EURJPY Setting up for Big move

Hi fellows, I am expecting big move down on this pair. Price struggling to break up. If impulse appear to the downside then look for sell. In case price break up and continue to the up side then i will look for continuation to the upside but for that i need to see clear break up and violation of my structure. Good Luck fellows.

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