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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.
luckyhelper luckyhelper BTCUSD, 240,
BTCUSD: The Big Picture
170 7 4
BTCUSD, 240
The Big Picture

In this chart, we can see the red dashed channel resistance line CR and the green dashed channel support line CS. The steep green dotted line was a support until Wednesday, when it was crossed and turned into a resistance line. How will the price of Bitcoin further develop? Will the uptrend continue and the price climb towards 25000? Will the old downtrend take ...

Renforex Renforex EURGBP, 120, Long ,
EURGBP: EURGBP - Long if the channel holds
135 0 3
EURGBP, 120 Long
EURGBP - Long if the channel holds

We are using the same channel as used in the related idea (link should be under this description). Breaking under this channel signals that we should abandon this trade and will give us a nice opportunity to make pips safely in the opposite direction. Access to all of my trade signals can be found at renforex.com All signals sent direct to all of your devices ...

FreshOilTrader FreshOilTrader USDCAD, 240, Short ,
USDCAD: Can you earn selling USDCAD pair? I hope so. Nice channel, no?
107 0 2
USDCAD, 240 Short
Can you earn selling USDCAD pair? I hope so. Nice channel, no?

Looks like very nice channel has appeared on 4h USDCAD chart. If you trade a pair (any direction) remember about RISK management. Always trade only basing on your own forecasts and decisions.

NeoButane NeoButane PRO NEOUSD, 30, Long ,
NEOUSD: NEOUSD - Will it break the 1.618 Fib channel?
94 0 2
NEOUSD, 30 Long
NEOUSD - Will it break the 1.618 Fib channel?

After placing down this channel, I scrolled out to see and NEOUSD has never broken the 1.618 fib in this channel. That's bad. Nearly double topped on the RSI but 70 was not hit, but stable above the 0.618 retracement. Uptick on the RSI as of writing. I am currently in a long, hoping that it'll pop up above $120. As of writing, it looks like BTC is going to make ...

Gargamel6500 Gargamel6500 EURGBP, 60, Short ,
EURGBP: EURGBP Trend Continuation
21 0 2
EURGBP, 60 Short
EURGBP Trend Continuation

Descending channel in D chart. Eur tested upper trend line . -> just broke mini trend line in 1 h chart, waiting for confirmation by current candle .

cryptobadgerii cryptobadgerii VENBTC, 240, Long ,
VENBTC: VENBTC Ascending Channel
115 0 1
VENBTC, 240 Long
VENBTC Ascending Channel

Initial thoughts were that VEN was in a rising wedge against BTC. However, as there is no marked decrease in trading volume I feel it is more likely to be early in an ascending channel and still establishing channel boundaries for resistance and support.

GODrums GODrums BTCUSDT, 180,
BTCUSDT: BTC - quick conclusion
26 0 1
BTCUSDT, 180
BTC - quick conclusion

There are likely to be 2 options for BTC: Forming a inverse H&S (bullish) OR following the current downtrend channel and retesting the bottom of the channel after the Zig-Zag idea. 10000 will be most likely the turning point that decides the path so keep your eye on that!

barz15652 barz15652 CHFJPY, 120, Short ,
CHFJPY: CHFJPY
15 0 1
CHFJPY, 120 Short
CHFJPY

support breaked out and pullback is completed

germac germac CTRL, 1D,
CTRL: why is everything pointing down?
9 0 1
CTRL, 1D
why is everything pointing down?

Good earnings reports, positive comments from management, why is investor sentiment negative?

RoyalPatje RoyalPatje LINKBTC, 240,
LINKBTC: Link channel trading
90 3 2
LINKBTC, 240
Link channel trading

Im learning, so pleased to learn comments / thoughts / ideas on above. Thanks Buy zone 6100 - 6450 sell range 8000 - 8250 Stop loss 6000 btc dropping again, hope this wont have to much effect on above.

AlmostaTrader AlmostaTrader SPY, 240,
SPY: Stuck in the middle
61 0 1
SPY, 240
Stuck in the middle

Posted this earlier, I just had to repost this, now that we closed right in the middle of the most recent high and low! I sense some indecision!

ZanJarh ZanJarh USOIL, 60, Short ,
USOIL: USOIL
64 0 2
USOIL, 60 Short
USOIL

Idea.

CryptoBuggy CryptoBuggy LINKBTC, 240, Long ,
LINKBTC: Bottom of the channel with a possible jump
54 0 1
LINKBTC, 240 Long
Bottom of the channel with a possible jump

Link is now at the lower line of the ascending channel. RSI and MACD levels supports the ascending movement but it needs some volume to jump to the higher line of the channel. Without the volume the upward movement might be limited to 7k sat level. But as Bitcoin is not stable, I dont anticipate but breaking down out of the channel is also possible and the next ...

Tradingstrategyguides Tradingstrategyguides PRO AUDUSD, 120, Short ,
AUDUSD: AUDUSD 4H GUMBO SOUP SHORT TRADE
212 8 5
AUDUSD, 120 Short
AUDUSD 4H GUMBO SOUP SHORT TRADE

Pair was in an ascending channel channel breakout into consolidation range bound consolidation range breakout for bearish ENTRY take profit previous support watch Macd for bearish confirmation and direction

D4rkEnergY D4rkEnergY TOP BTCUSD, 1D,
BTCUSD: BTC was NOT allowed to have a GIRLFRIEND - BTC update (CENSORED)
3941 12 43
BTCUSD, 1D
BTC was NOT allowed to have a GIRLFRIEND - BTC update (CENSORED)

##APPARENTLY SEX METAPHORS IN D4S PREVIOUS BTC UPDATE FROM YESTERDAY WAS TOO MUCH FOR TRADINGVIEW TO HANDLE. D4 HAS TO ACCEPT THAT, SO HERE IS A MORE CLEAN VERSION. THIS WAS IN FACT A VERY EDUCATIONAL UPDATE, SO D4 HAS CHOSEN TO REPOST IT AGAIN. NO HARD FEELINGS. EVERYTHING IS OK### <3 Dear fans! We are at a very crucial moment for Bitcoin at this very moment. ...

VasilyPonomarev VasilyPonomarev USDCAD, 240, Short ,
USDCAD: turning point on usd cad
337 0 13
USDCAD, 240 Short
turning point on usd cad

https://www.tradingview.com/x/RhIB6nZL/ hey traders, Interesting zone to watch on usdcad this evening. Bullish breakout of this local resistance will be buying trigger for me and I will anticipate movement to 1.291 Remember that we don't buy immediately as the breakout occurs. It is crutial for market to close above structure. OR Bearish breakout of local ...

Acel Acel PRO DGDBTC, 120,
DGDBTC: DGD/BTC - Potential break out soon(TM)
699 16 6
DGDBTC, 120
DGD/BTC - Potential break out soon(TM)

DGD seems interesting atm. I was gonna post this 15 mins earlier but there was an issue with my ISP. Technically it touched the slim box, but go easy on this, there is no DIV to confirm a reversal. Volume is slowly rising though.

Tradingstrategyguides Tradingstrategyguides PRO ETHUSD, 60, Short ,
ETHUSD: ETHUSD 1H BEAR FLAG CHART PATTERN STRATEGY
540 1 5
ETHUSD, 60 Short
ETHUSD 1H BEAR FLAG CHART PATTERN STRATEGY

This trade is from our free pdf "BEAR FLAG CHART PATTERN STRATEGY" PM me if you have any questions, I will be happy to help.

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