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Parallel Channel

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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.
IvanMadrazo IvanMadrazo UKOIL, 240, Long ,
UKOIL: Coincidence?
67 1 6
UKOIL, 240 Long
Coincidence?

Another Bullish BAMM Setup. Wait for breakout. 0.786 Could be a very possible target. :)

BD_Trading BD_Trading EURCAD, D, Long ,
EURCAD: EURCAD Possible upside.
19 0 6
EURCAD, D Long
EURCAD Possible upside.

Expecting some consolidation around 61% and then take off to 1.50 - 1.55 levels.

tom_mok tom_mok AUDCAD, 240, Short ,
AUDCAD: AUDCAD Short
30 0 5
AUDCAD, 240 Short
AUDCAD Short

price still move inside the channel. we can aim one more downside.

As_Is_Here As_Is_Here USOIL, D, Short ,
USOIL: WTI IS BEARISH BUT WHAT IF FUNDAMENTALS GO TO WORK?
53 1 3
USOIL, D Short
WTI IS BEARISH BUT WHAT IF FUNDAMENTALS GO TO WORK?

Lately we have seen a lot of catalysts as far as WTI Crude Oil but less and unreasonable volatility than expected. We had: 1.O.P.E.C enlargement deal. 2.Libya's and Nigeria's supply growth. 3.Arab nations cut ties with Qatar. 4.US increase Oil production 10 months straight with new cheaper drilling methods. 5.Summer rally seems to have an effect on inventories ...

itmashraf itmashraf GBPJPY, W, Short ,
GBPJPY: GPYJPY ASCENDING CHANNEL FORMATION
16 1 3
GBPJPY, W Short
GPYJPY ASCENDING CHANNEL FORMATION

GBPGPY ASCENDING WEDGE REVERSAL PATTERN BREAKOUT SOON

Evan_Moe_Money Evan_Moe_Money PRO IFX, 60, Long ,
IFX: Strong resistance broken Chance for a positive breakout
4 0 4
IFX, 60 Long
Strong resistance broken Chance for a positive breakout

As we see here, the heavy resistance is broken. price might come down for a retest, but then it should go to the top of the channel. Plus we are in a very long uptrend, so odds are on our side.

themarketzone themarketzone PRO FJTSY, M,
FJTSY: Monthly breakout above 41$
32 0 3
FJTSY, M
Monthly breakout above 41$

I've read this article that talks about NVDA, AMD and new potential competition - http://www.marketwatch.com/story/nvidia-and-amd-must-brace-for-competition-from-a-super-powerful-artificial-intelligence-processor-2017-07-18?link=sfmw_fb I decided to take a look and this is what I've found: 1) Brekaout of a monthly channel. 2) Attempt to break above 40$ and a ...

Dukascopy_Analyst Dukascopy_Analyst USDDKK, 240,
USDDKK: USD/DKK 4H Chart: Channel Down
13 0 7
USDDKK, 240
USD/DKK 4H Chart: Channel Down

USD/DKK 4H Chart: Channel Down The American Dollar is losing value against the Danish Krone in a three week long descending channel. Formation of the pattern began shortly after the Greenback depreciated by 1.55% on June 27. In the second half of the yesterday’s trading session the currency exchange rate has bounced off from the channel’s bottom trend-line, ...

Dukascopy_Analyst Dukascopy_Analyst HKDJPY, 240,
HKDJPY: HKD/JPY 4H Chart: Channel Down
9 0 7
HKDJPY, 240
HKD/JPY 4H Chart: Channel Down

HKD/JPY 4H Chart: Channel Down The Hong Kong Dollar is depreciating against the Japanese Yen simultaneously in medium-term and short-term descending channels. The junior pattern represents a second rebound of the currency exchange rate from the upper trend-line of the senior formation. It seems that in the early Wednesday morning the pair has already ...

Bonavest Bonavest PRO NZDUSD, D, Long ,
NZDUSD: Return of the Kiwi?
159 2 5
NZDUSD, D Long
Return of the Kiwi?

This is a very optimistic view of the NZD. This assumes the US Dollar continues its run down. I think the TP1 is much more probable in the coming weeks and at a little over +100 pips I am ok with that.

FUNTRADER-Vera FUNTRADER-Vera PRO USDJPY, 240, Long ,
USDJPY: USDJPY:  is this a long opportunity right now?
789 8 31
USDJPY, 240 Long
USDJPY: is this a long opportunity right now?

Hello guys, I know so many traders want to short GOLD long UJ now. Check this, you could hv several reasons to long UJ. 1. FIBO 0.5 2. Support line( green) 3. 5 wave channel . Does that mean you can enter right now ? Will post answer later. Less is more!

FXRCAPITAL FXRCAPITAL AUDUSD, 240, Short ,
AUDUSD: AUDUSD Butterfly Effect
112 2 6
AUDUSD, 240 Short
AUDUSD Butterfly Effect

Strictly Technical AUDUSD Top of the channel short // STOCH SIGNAL // Bearish start M30/H1/H4 // GMACD // Trend/DN MEDIUM M30/H1/H4 Almost perfect bearish Butterfly pattern play on AUDUSD at the top of the channel looking for 170 pips on this movement. SL 70pips from entry in prz

iskald iskald AUDCAD, W,
AUDCAD: AUDCAD outlook
35 0 7
AUDCAD, W
AUDCAD outlook

AUDCAD has given 145 pips this week. AUDCAD is still in a range going back to June 2013. For the next week i don't seem to grasp what is going to happen, both AUD and CAD is strongly going up, resulting in rejection in the two boxes i have stated out. I believe that the long term view is that AUDCAD will go down to historical 0.92000 but the lack of lower lows ...

tntsunrise tntsunrise PRO EURUSD, D,
EURUSD: EURUSD breaks 1.13 Heading towards the long term channel
9258 16 186
EURUSD, D
EURUSD breaks 1.13 Heading towards the long term channel

EURUSD breaks 1.13 Heading towards the long term channel Price is very bullish after break 1.13 Pay attention to 1.1424 level which is FIB 1.13 EXT and also the channel. Wait for market to test this level and the price action should tell us the direction. Breaking this Channel may lead EUR to 1.19 However, if failed to break the channel, a big correction may ...

AAlFadhala AAlFadhala PRO GBPUSD, D, Long ,
GBPUSD: GBPUSD changing its TREND!
30350 6 58
GBPUSD, D Long
GBPUSD changing its TREND!

Hello trades, Hope all is going well with everyone. As shown above, GBPUSD is showing strong signs that its changing its trend and we could see strong bullish movements in the coming days/weeks. Please note that in order for this pair to continue its move upwards, it has to avoid trading in the accumulation area (highlighted in blue). This is not a trade ...

tntsunrise tntsunrise PRO NZDUSD, 240, Short ,
NZDUSD: NZDUSD Break down the uptrend channel
11077 89 176
NZDUSD, 240 Short
NZDUSD Break down the uptrend channel

NZDUSD Break down the uptrend channel Find a pull back to short. Although last ideas was a loss, but that is discipline, and I must thank for this stop loss to cut the loss only at 40 pips, not 120 pips. you can see the huge upside move after the breaking out. Now the NZD has broken the channel with a strong bearish candle closed below. I will find a pull ...

Calm-Monk Calm-Monk LTCUSDT, 240,
LTCUSDT: Flag on LTCUSD
339 0 9
LTCUSDT, 240
Flag on LTCUSD

Possible flag pattern on LTC going to reveal. It's pretty parallel. It might go up to 54-56$. BTC tip: 1FPc96NnpW5rC4RqVVYSRAd8BNHPM4ecJa LTC: LZ8Q9cNyGYdNxAhjU4zNaFv4SrcmZyToPk Thank you :)

FXRCAPITAL FXRCAPITAL EURUSD, 240, Short ,
EURUSD: EURUSD Top of the channel
102 0 7
EURUSD, 240 Short
EURUSD Top of the channel

Strictly Technical EURUSD Top of the channel short // STOCH SIGNAL // Bearish start M30/H1/H4 // GMACD // Trend/DN MEDIUM M30/H1/H4 Looking to short EURUSD top of the Channel, A bit of a risky play but I'm expecting DXY to bounce this week.

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