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Ascending Channel

KCSUSDT wants another breakout! The price is creating another channel below the daily resistance after the market retested the 18$ as I told you in my previous analysis. How to approach? The price needs to create a new breakout from the 18$ and retest it as new support, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
4
A Kangaroo Hop!Things seem to be going well down under. With Iron Ore prices jumping close to 8% last week, Australia, the largest exporter of the raw material stands to benefit greatly. In 2021, Iron Ore exports totaled close to US$120 billion. This contributes greatly to the demand side pressure on the Australian dollar. Looking at the charts, the AUDUSD pair is currently trading at the bottom of the channel support on the 1-hr time frame. With the 200-period moving average right below current levels, we think downside resistance will prove strong and prices will bounce off the bottom of the rising channel quickly. Stay tuned to the Reserve Bank of Australia’s meeting tomorrow and time your entry there! Assuming no surprises and the technical supports are intact, we favor the long side for the AUDUSD pair. Entry at 0.7190, stop below 0.712. Targets are 0.7346 and 0.7460. Disclaimer: The contents in this Idea are intended for information purpose only and do not constitute investment recommendation or advice. Nor are they used to promote any specific products or services. They serve as an integral part of a case study to demonstrate fundamental concepts in risk management under given market scenarios.
Editors' picks
CME:6A1!Long
by inspirante
8
AUDNZD Top of Ascending Channel Welcome back! Here's an analysis of this pair! **AUDNZD - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
Short
by BKTradingAcademy
Nvidia (NVDA)... Light in the tunnel ?There may be hope for you NVDA hodler's. Nvidia's Share price appears to have held the bottom of the channel after a 54% decline from its peak. While NVDA has bounced (apparent triple bottom), we need a strong tailwind (counter-trend) to propel it through the suggested entry point. (Top of rose colored supply zone) Targets and a stop are marked. The projected Harmonic Pattern marked is a Cypher. (Projected harmonics have less of a success rate that fully formed ones) Naturally we need a positive tech market for this to work. Educational not investment advice. Do your own due diligence. Good Luck S.
NASDAQ:NVDA
by Steve666
FTMUSDT is testing the supportThe price is creating an ascending channel on the 4h timeframe after a bounce on 0.22 Monthly support. The price got a rejection from the daily trendline (dynamic resistance). How to approach it? IF the price is going to lose the support, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Short
by InkyGrip
2
EURGBP LONG BEFORE SHORT.Hello everyone, in todays analysis on EURGBP, I am looking to go long once market opens with a tight SL. I am looking for price to get to 0.8300 before shorting as market is trending on an ascending channel. If price fails to push up to this zone and breaks the trend line below, I will look for a short position. Good luck and have a successful trading week. DYOR & Just trade what you see. Let the market tell if you are right or wrong, that is the best way to learn in the forex market. KINDLY FOLLOW AND LEAVE A COMMENT.
Long
by Off-The-Charts
1
Ethereum ETHUSDT - Elliott Wave on the weekly! + ABC completed- This is the weekly chart for ETH - analysis since the big covid crash in 2020. - Wave 1 and wave 3 created ascending channels during their move, so we should count it as waves 1 and 3. - It means that we should expect a last 5th big wave to the upside! - 0.618 FIB extension (wave 3 -> wave 4) is around 21 000 USDT. - ABC correction can be completed (wave 4) and we are ready for a next pump! - If we take a look at the MACD indicator, we can spot a huge bullish divergence. - Currently the market structure looks like a bullish rectangle (red one), which is a very bullish continuation pattern.
Long
by UnknownUnicorn2537518
7
BTC - Rising Channel?I'll be honest- I don't think this is what is going to happen, but just presenting a possibility. BTC is in a potential ascending/rising channel, of which it is currently testing the mid-point of that channel. On previous touches of the midpoint it has seen bounces or rejections. We could potentially see BTC bounce off this midpoint as support. It would need to close above it on the Weekly timeframe for that to happen. If it does fall below, it should hold the 200 EMA. Outer-limit of this channel sits at around 12-14k. Again, not my predicion. I expect to see 20k in the next couple of weeks. I would imagine the buying pressure at that point would prevent it going lower, and it would not stay at that price for long.
BITFINEX:BTCUSD
by ronzo777
3
Just reached the bottom trendline of channel.To me the bottom trendline of the channel appears to be this bottom purple trendline…if this wedge we’ve been in all April decides to break upward here right at the beginning of May I would’nt be surprised if the current candle will be the one that finally bounces us up from the downtrend we have been in all April. There’s also a chance we could send a wick below this bottom purple trendline, in which case there are 3 very strong trendline just below it (not shown here) that would ultimately be likely to hold support unless of course the bear market is confirmed. For now i lean slightly more bullish in the immediate term and expect some sort of bounce in the near future. If I see us confirm the breakdown of this channel however I will be more likely to start favoring the bearish scenario but a wick or 2 or even some daily candles closed below wouldn’t necessarily be enough to confirm the breakdown. For now I still think this wedge will trigger but know what to look for if it decides to nullify itself. *not financial advice*
BITSTAMP:BTCUSD
by DrDovetail
1
USDCAD DAILY (11/5/22)Here we have usdcad in a uptrend channel where it has only made 3 touches so far. we did get a breakout of this channel but price was able to give us solid bullish candles to get back in and close within the channel giving us a fake out (Highlighted in graph). This fake out also gave us the 4 touch of an inner channel which has also given us a flag pole formation. I believe that UC has the potential to reach between 1.341 & 1.351. I will post analysis of lower time frame in the next post.
Long
by J_Pipsfx