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Channels

BCHUSDI'm seeing yet another horizontal channel here in the intermediate term but you can clearly see high lowers on an up trending RSI. In addition we have a bullish ascending triangle with intersecting resistance lines and two failed attempts at breaking that resistance line. If we can break here my immediate target is a retest of 2950. Ive been trading in and out of BCH as the largest portion of my portfolio at this point in time. Current entry is ~2300 with the goal of selling either a 30% or 50% tranche of the position in the 2900 range. I'm expecting this retest to occur over the next 72 hours. I should be able to tell where I will want to re-enter the position depending on how it reacts at the 2950 resistance mark.
COINBASE:BCHUSDLong
by pablosayed
2
(FINALLY) A Live BTCUSD chart minus the auxillary indicators!I finally spat the dummy and just created a new chart layout without all the additional indicators displayed below the candlesticks. Now we have some clarity at last! If anyone has any idea how to publish an idea with displaying all indicators, please let me know! As we can see from channels, yesterday we broke below the upwards channel drawn between Wave 4 and Wave 5 on a 'cycle' EW timeframe. This wasn't maintained for long before a bounce back. I spent ~2/3 of my fiat account on various crypto's at this point - prepared for the price to not reach this low again, but also prepared to have some remaining funds for a further potential drop. We are nearing the end of an ABC correction no doubts about it. What remains to be seen is if we are now beginning Wave 5 in a EW supercycle, or if this rally is temporary - a 'primary' Wave B within a 'cycle' Wave C, with a final (primary and cycle) Wave C drop yet to come, which would complete the correction before the supercycle Wave 5 begins. In any case, my projection for bitcoin is $33,000 USD by March 2018. However, at this stage, this figure is a guestimate at best. I am constantly modifying my analyzes to account for the most recently available data. The red box drawn still accounts for all my predictions and speculations on BTCUSD since 29th December 2017. I still believe we will see price move to within this box, but most likely not lower than $11,000 USD - price is unlikely to move within the lower half of the red box. That being said, a foreseen future event often becomes a self-fulfilling prophecy - making it occur earlier than anticipated. We may well see this at play in the near future.
BITSTAMP:BTCUSD
by jjbb11
9
EURUSD - Channel Play (Classic No Demand Setup)EURUSD is a pretty straight forward channel play. I will only be interested to trade when it reaches channel extremes or when harmonic pattern completes. Currently, there are not patterns. If you look back just a few days ago, we have a classic no supply at top of channel. What is no demand? Price did a breakout with extremely low volume, this indicated not many buyers are interested in this move up. (no demand = no buyers ) After struggling for 8 hours, price dropped on a big red bar with high volume. This indicates sellers have come in. In instances like this, we should wait for any pullback to top of channel before initiating any shorts. The direction should be bearish and I will only look for reasons to join the sellers. I will not chase the lows and get myself stucked in a bad situation. Will keep you guys posted next week.
by TerryHarmonicTrading
5
TKS unusual attempt to tradeThis coin chart is very different from the rest of altcoins. I marked channel and it is very obvious that the coin is trading in between theses two levels(yellowish rectangle). It is quite possible that the coin will reach highest high again in some time unless the channel will be broken and down trend will occur. I marked double bottom as well. I think SL around 2500 is a good idea as the pair might go lower and it is hard to say if it will ever go up
TLong
by Krystiannwk