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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.
cheesetoast cheesetoast EOSBTC, 60, Short ,
78 0 3
EOSBTC, 60 Short
EOSBTC short opportunity

Failed break out of a descending channel. Favoring the downtrend to continue. There is a head and shoulders forming that I intend to short. Will wait for price to confirm before entering. Profit target is a Fib cluster just below. Stops above the right shoulder after entry. Please give this trade idea a THUMBS UP and I will keep you updated! Disclaimer: This ...

58 0 4
USDCAD, 240 Short
USDCAD Sell Idea

H4 - Price has reached the top of the channel, we have bearish divergence and false break. Until the price is below the top of the channel, we may look for sells with bearish evidences. Invalidation: If the price breaks and holds above the top of the channel, then this setup will be invalidated (false breaks can be neglected).

ml02534 ml02534 ES1!, 240, Long ,
38 0 3
ES1!, 240 Long
SPY SP500 Channel Support / Peak Support / RSI

SPY will decline to channel support level. With corresponding RSI bullish divergence, and heavy support around similar area. Looking long when price action confirms reversal. https://www.tradingview.com/x/xWna3yC6/

ml02534 ml02534 SPY, 240, Long ,
106 0 2
SPY, 240 Long
SPY SP500 Channel Support / Peak Support / RSI

SPY will decline to channel support level . With corresponding RSI bullish divergence , and heavy support around similar area. Looking long when price action confirms reversal. https://www.tradingview.com/x/LbVlNimU/

61 0 2
LTCBTC, 1D
Litecoin approaching multi-year trend line support

Litecoin has created one of the most beautiful charts in the altcoin area. Looking at the big picture, the coin is trading within a bullish channel, creating higher lows and higher highs on the weekly chart. However, the micro picture gives us a different feeling. The coin broke the horizontal support around 0.01000, which represented a significant support in ...

Sackura Sackura ELFBTC, 1D, Long ,
23 0 2
ELFBTC, 1D Long
giant falling wedge on elf

for fun, gonna check back in a few month or so and see how it's done

KhayalethuMbewu KhayalethuMbewu GBPAUD, 60, Short ,
27 0 1
GBPAUD, 60 Short
GBPAUD Sell

Price has formed a head & shoulder pattern on the daily, and on the 4H TF we are currently trading in a descending channel and price has rejected off of resistance...on the daily the neckline has been broken and a nice retest has printed with the neckline & the descending trend line protecting our stop loss then we have some great potential to the downside with a ...

coinkilavuz coinkilavuz BTCUSD, 120, Long ,
138 0 6
BTCUSD, 120 Long
Bitcoin

If you can stay at level 6120, it will target 6675 levels.

445 2 8
BTCUSD, 60
Bitcoin Bottom of Channel? | See what may be NEXT!

Is BTCUSD finally at the bottom of a channel? Is it time for a big boom to 20,000? Probably not.. But, based on recent history, it looks promising that we may see an upward move.. If you saw our last post that I linked, we mention how we are using our big three strategy to trade BTC. Same rules still apply as right now bears are temporarily in charge. If BTC ...

mamalipoo mamalipoo USOIL, 1D, Long ,
154 0 6
USOIL, 1D Long
CRUDE OIL BULLISH ALTERNATE AB=CD PATTERN

The price could not stay below the channel and we can enter a new position on crude oil According to the previous analysis and also it's good to see the bullish alternate ab=cd pattern and the nice pin bar candle.

mamalipoo mamalipoo USOIL, 1D, Long ,
164 0 4
USOIL, 1D Long
crude oil bullish 121 pattern daily chart

Hi guys, this is my new analysis on crude oil I think this week crude oil value will go high because of the price touched its bullish trend line of the parallel channel and nice price cluster too and made a bullish 121 pattern also, it's good to see the RSI divergence.

cooldude.0090 cooldude.0090 NFLX, 1D, Short ,
347 3 9
NFLX, 1D Short
shorted the nflx short the PUMP

NFLX on top of channel overobught over hyperd everything over

simbha simbha MU, 1W, Long ,
278 5 6
MU, 1W Long
Another 2 weeks of bottoming ?

Regression channel / 40 SMA weekly / Daily 200 SMA confluence should be point of inflection

PipJumper PipJumper EURAUD, 240, Short ,
26 0 2
EURAUD, 240 Short
EURAUD

This is the set up i am looking it.

coinkilavuz coinkilavuz XMRUSD, 480, Short ,
101 0 5
XMRUSD, 480 Short
Monero

As long as they can not go up to 114, they become 83.50 and 54.75 targets.

DianKemala DianKemala GBPUSD, 240, Long ,
1179 9 23
GBPUSD, 240 Long
GBPUSD intraday setup

We already have fibonacci support at longterm projection : https://www.tradingview.com/chart/GBPUSD/BLFtavfw-GBPUSD-long-term-projection/ For intraday setup, We can buy GBPUSD right now, and aim for channel down resistance as temporary target. If this resistance break up, we can set new target at classic support and resistance. Check our video analysis to ...

DianKemala DianKemala USDJPY, 240, Long ,
1091 10 17
USDJPY, 240 Long
USDJPY long setup

USDJPY still in bullish wave at channel up, rightnow this pair already hit support channel we can buy this pair now. as u can see 110.85 also as fibonacci 618. So this support is strong enough to hold bearish movement. We can use ABCD fibonacci pattern to find our target at fibonacci 1.618 at 114.62 Good luck Open long : 110.85 target profit : 114.62 (377 ...

13768 31 172
BTCUSD, 240 Long
Last hope for bulls, hold it up to a mirror, see the reflection

Yes, I know we're still falling. Yes, this 6900 zone might not hold, and I'm publishing this too soon. Yes, it would be better to confirm the bottom and reversal. Don't care. Despite the fussing and whining of some annoying and overly-anal trolls, my charts are not scripture, they're just pretty pictures scribbled by a cranky old cuss. And this one was too pretty ...

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