A descending channel on EUR/USD @ D1 can be used to enter a long trade in case of an upward breakout. The pattern's borders are marked with the yellow lines. The potential entry level is at the cyan line. The potential take-profit level is at the green line. Stop-loss is to be set to the low of the breakout candle (not shown on the chart).
I was watching for the market to hit 7.0 but it undershot the price and rallied, which I think is a good sign. Now we are finding support at 9.0 which was a previous inflection level. Where to next? If current candle closes near its high (bullish candle), I'd bet we would see at least a small leg up. If buyers got the strength, we should see a re-test of...
HEY EVERYONE Here's an idea on the POUND/DOLLAR with a bit of fundamental perspective - The pair is currently trading in a descending channel which just saw a rejection at the roof of this structure the pound has been loosing momentum due to some fundamental factors like; * The dominating fears of the rising virus cases. * BREXIT - BREXIT deal remains more...
The targets for the break of the previous channel (sent to our students) were hit perfectly, before we saw a retrace back down. The beautiful thing about the retracement is that it appears to have moved directly into a new descending channel. I think we are likely to see a little more of a dip before this pair moves away, but i for sure will be looking for longs...
Which way will XJO go??? I feel many investors are on the edge of their seats, whether cash or holding, there's this underlying sense of unease as the markets could swing either way at any moment... So ask yourself, and answer in the comments below if you like: a) Will we continue to melt-up and diverge from the economy? b) Will markets crash back down and catch...
CADJPY Trade Ideas ALOHA Traders! The market is showing some nice setups to end the month of SEP brining in some nice momentum going into OCT and beyond. Here is one of my ideas of what I’m thinking price can do. 1. CADJPY S (not in position) D - Waiting for further development before I place a live entry on this one, but it looks very rnearentry...
This pair is in a Downtrend forming a Bearish Expanding Channel. The Uptrend has ended long time ago and now Sellers are in control of the this pair. The next Demand Level of Buyers is at the Horizontal Support. This area has been tested only once, so it is a fresh buying level. We also have a very Strong Confluence of Support in the Green Circle which means...
BTC is still in a descending channel that I drew.. With recently bullish move I expect BTC to move to top of the channel 11200 critical resistance level.. There are two possible scenarios that I predict.. The Bullish scenario: BTC can handle and break the 11200 resistance level, in this case I'll expect our next stop is at 12000.. The Bearish scenario: BTC reject...
EURGBP shows very interesting action in this period. At the bottom, we have an uptrend line that recently proved to be quite reliable, rejecting the price at 0.9020. Another level that supports buyers' positions can be found around 0.9070, where we have a short term support: At the top, we have a very good downtrend line that, combined with other key-levels,...
Hello Traders, GBPUSD is forming an interesting picture on 4-Hour TF. - Descending Channel - Wedge Breakout Confirmed - Ichimoku Cloud Breakout Confirmed Rules to Buy: Open Long Position ONLY IF: - Descending Channel Breakout with high volume confirmation. - Our Buy Zone Breakout with high volume confirmation. - If both rules are satisfied market buy when new...
MKRBTC is trying to have a breakout from the descending channel. The price is testing the weekly resistance, According to Plancton's strategy, we can set a nice order ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h...
Euro/ U.S. Dollar continue in their rally about the European Central Bank that want to created deflation across the Europe's nation. More interesting is this timeframe. we have the Daily timeframe ane we formed a bearish channel, also, that mean that Euro is continue grow up throughout the time. And we hope that. For the next days, I will going to make an...
Traded inside descending channel. Had reversal on the bottom + confirmation candle. Target around 81$-82$. Stop at 79$
Since my previous post on OSTK linked to this chart we have seen some support on the KST & a bounce back into the descending channel. Where I had a question mark before on the KST is now another blue finger icon representing a micro bottom. The RSI has additionally bounced back into what was a descending triangle, it's possible we see this play out as a bullish...
Time to see which channel is on play. BUY IF: Bottom of ascending channel (green) becomes tested, bounces, and breaks above top of descending channel (red). SELL IF: Bottom of ascending channel (green) breaks below, then top of descending channel (red) becomes tested but doesn't break upwards.
USD is following a decending channel against the JPY. Let us look for an opportunity to follow the trend to the daily support level. dont forget to put a stop loss aoutside the channel
The price of ETH has has confirmed to be following the new channel and it is near the upper boundary of the channel on the hourly time frame, so let's look fo an opportunity to go short.