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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.
samandreasfault samandreasfault PRO LTCUSD, D, Long ,
LTCUSD: Channel Breakout
221 1 5
LTCUSD, D Long
Channel Breakout

Hoping to see action similar to previous orange zone

Dukascopy Dukascopy PRO GBPNZD, 60,
GBPNZD: GBP/NZD 1H Chart: Pound breaches minor down-trend
42 0 1
GBPNZD, 60
GBP/NZD 1H Chart: Pound breaches minor down-trend

The Pound has been confined in a channel up against the New Zealand Dollar since mid-July. However, the pair failed to reach its upper boundary during the last wave up, as the rate reversed near the 1.95 mark. The Pound has subsequently formed a minor descending channel the bottom boundary of which was tested on Thursday. Meanwhile, the given currency breached ...

Dukascopy Dukascopy PRO GBPCAD, 60,
GBPCAD: GBP/CAD 1H Chart: Pound tests channel
25 0 1
GBPCAD, 60
GBP/CAD 1H Chart: Pound tests channel

The Pound’s movement against the Loonie during the past three months has been guided by an ascending channel, while in the short-term—two additional channels are at play. After testing the senior channel circa 1.7150 on November 1, the Pound began a new wave down. Currently, the rate is trading near the upper boundary of this pattern at 1.7025. Technical ...

yikboyx yikboyx EURSEK, 60, Short ,
EURSEK: Short wait for set-up observed EURSEK
13 2 2
EURSEK, 60 Short
Short wait for set-up observed EURSEK

Hello Traders, Short observed for eursek, we need to wait for the set up formation. R:R approx 1 to 4+ Your reflections on my analysis I highly honor. Thank you.

JoeHayes JoeHayes AUDCHF, 60, Long ,
AUDCHF: AUDCHF Channel Change
23 0 3
AUDCHF, 60 Long
AUDCHF Channel Change

Looks to be evidence of a channel change unfolding on AUDCHF. This level happens to be a 50% Fib retracement on Daily chart at support level. Multiple divergence confirms price action, and a W pattern seems to be setting up a long opportunity to test the top of the "new channel" with stops below.

ZanJarh ZanJarh GBPJPY, D,
GBPJPY: GBPJPY Path or Smth
51 0 3
GBPJPY, D
GBPJPY Path or Smth

Future foretold, or some shit.

VasilyPonomarev VasilyPonomarev GBPUSD, 240, Short ,
GBPUSD: sell the breakout on gbpusd
353 0 11
GBPUSD, 240 Short
sell the breakout on gbpusd

https://www.tradingview.com/x/bFdj8bAe/ Option to sell the breakout of parallel channel following the structure and dodji formation

Dukascopy Dukascopy PRO USDMXN, 60,
USDMXN: USD/MXN 1H Chart: Trades near weekly S2
53 0 2
USDMXN, 60
USD/MXN 1H Chart: Trades near weekly S2

USD/MXN 1H Chart: Trades near weekly S2 The American Dollar has been losing value against the Mexican Peso in a small descending channel over the last two weeks. However, two days ago this pattern started to transform into the falling wedge formation amid the pressure from 55- and 100-hour SMAs. As downside momentum from the yesterday’s FOMC Meeting Minutes ...

Dukascopy Dukascopy PRO GBPCHF, D,
GBPCHF: GBP/CHF 1D Chart: Heads towards 55-day SMA
24 0 2
GBPCHF, D
GBP/CHF 1D Chart: Heads towards 55-day SMA

GBP/CHF 1D Chart: Heads towards 55-day SMA The British Pound is simultaneously fluctuating against the Swiss Franc in three different patterns. The largest ascending channel started to form a year ago and nowadays consists of three reaction highs and two reaction lows. The medium ascending channel represents a fragment of the dominant formation and is lying along ...

Dukascopy Dukascopy PRO NZDCHF, 60,
NZDCHF: NZD/CHF 1H Chart: Kiwi tests two channels
14 0 3
NZDCHF, 60
NZD/CHF 1H Chart: Kiwi tests two channels

NZD/CHF is currently trading in three channels. The senior one was formed mid-September, while the other two emerged only in November. The Kiwi bounced off the senior channel circa 0.6720 last week and has since entered a slight consolidation period. The current situation shows that the rate is testing the boundaries of two opposing patterns which are likewise ...

Dukascopy Dukascopy PRO ZARJPY, 60,
ZARJPY: ZAR/JPY 1H Chart: Poised for minor correction south
11 0 2
ZARJPY, 60
ZAR/JPY 1H Chart: Poised for minor correction south

Downside risks have dominated ZAR/JPY both in the long and medium term. The most senior pattern is a falling wedge in force since late November, 2016. A more recent bearish pattern is a three-month channel down that guided the rate from one wedge boundary to the other. After testing the 7.80 mark, the South African Rand began a new wave up in the medium pattern—a ...

whaleshark whaleshark XMRUSDT, D,
XMRUSDT: Monero Rising Channel
227 0 5
XMRUSDT, D
Monero Rising Channel

Target $150-$170. Stop loss just under rising channel.

jbzstocks jbzstocks PRO BIDU, D, Long ,
BIDU: BIDU - Channel line bounce
111 0 3
BIDU, D Long
BIDU - Channel line bounce

Stochastic divergence on channel line support. Buy: 240.75 Target: 250.49 - 256.27 (4.05% - 6.45%) Stop: 237.56 (-1.33%)

TieuLongFX TieuLongFX PRO DASHUSD, D, Long ,
DASHUSD: Waiting for new retest to buy again
468 0 4
DASHUSD, D Long
Waiting for new retest to buy again

Elliott Wave, Price Action, Price Pattern, Supply and Demand

darobsta darobsta PRO BTCUSD, D, Long ,
BTCUSD: BTC - Are we heading into No Man's Land?
789 2 11
BTCUSD, D Long
BTC - Are we heading into No Man's Land?

If we go back over 8k and to the top of the 2017 channel for a new true all-time-high (rather can continuing to dip), then that might indicate the channel is tightening. The lows would be getting higher and there would be less and less room for Bitcoin to breathe. It will need breathing space and with the buying pressure increasing over 2017 and showing no signs ...

tntsunrise tntsunrise TOP GBPJPY, D, Short ,
GBPJPY: GBPJPY TCT ( Trend continuation Trade)
11098 31 168
GBPJPY, D Short
GBPJPY TCT ( Trend continuation Trade)

GBPJPY TCT ( Trend continuation Trade) Today Gbpjpy break 148.96 and create lower low it also break a big correction channel which shows more downside room Plan is to short gbpjpy with pull back Ideal Entry will be 148.90-149.00 area Check lower time frame to entry :) First Target 146.30 2nd Target 142.75 SL above 149.50

BitcoinGuru BitcoinGuru BTCUSD, D, Long ,
BTCUSD: The Bitcoin Megabull Nearing our $10,000 USD Target
5048 20 58
BTCUSD, D Long
The Bitcoin Megabull Nearing our $10,000 USD Target

More than a year ago I published a chart on tradingview and forecasted that Bitcoin will have a Megabull that will hit past $10,000 USD (chart is below). Almost nobody at that time believed it could happen. I even got some hate mail calling my prediction a "joke" and some other hateful terms. However, fast forward to today and now we are few weeks or few months ...

pixi pixi PRO ETHEUR, D, Long ,
ETHEUR: Perfect price for a perfect Pattern ?
503 0 8
ETHEUR, D Long
Perfect price for a perfect Pattern ?

Hi, $500 is the likely next target for Ethereum. Wide channel with a possible bearish Crab inside with D point completion at $497.

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