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Ascending Channel

EURGBP can move lower? 🦐EURGBP on the 4h chart is trading within an ascending channel. The price after the test of the historical string support provided a false breakout of the 0.8300 level and retraced to the upside. With a test of the 0.8500 weekly resistance the market moved to the descending trendline of a weekly channel and is now moving lower. How can i approach this scenario? I will wait for the EU market open and if the price will break below 2 support areas i will check for a nice short order according to the Plancton's strategy rules. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Short
by InkyGrip
NZDUSD on an ascending channel 🦐NZDUSD on the 4h chart is trading at the top of a bullish trend inside an ascending channel. The price after the recent impulse got rejected by the daily resistance and is now moving to the lower trendline. I expect the price to reach the confluence zone between the weekly support and the trendline before the end of this week and i will monitor the price action around that level. How can i approach this scenario? If the price will carry on the retracement move I will wait for the break of the confluence zone and after that, i will check for a short opportunity and set a sell order according to the Plancton's strategy rules. ––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> >4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Short
by InkyGrip
2
Where the green line intersects the brown line. I feel like this would be a great spot for a potential end to the current correction. It is a convergence of two major trend lines. The green trendline being the top trendline of the wedge we broke out of a few weeks ago and the brown line being the bottom trendline of the channel we’ve been in forever now. Price action loves to retest the top trendline of a wedge after breaking above it before fully validating the breakout and has yet to do that on the weekly chart here so what better spot for it to retest that trendline than where it overlaps this other trendline that has been proven to be huge support time and time again. If we do confirm the breakout there are 2 potential measured move targets. Both targets depend on which bottom trendline of the wedge is most valid. The other lower green trendline, or the pink trendline. If the pink trendline is the more valid then we have a higher potential measured move target. The green one appears to have slightly more key touches but the pink one creates a shorter wedge and the point of breakout from the price action makes more sense in the shorter wedge as opposed to the longer wedge in which it feels like the breakout would be occurring far earlier than normal. Also if the pink line is the more valid bottom trendline, we can see its measured move target would take us exactly up to the top brown ascending trendline (aka top trendline of the brown rising channel) if price action were to reach the target at the same time the pink dotted measured move line’s trajectory does. That’s added bullish confluence that helps to increase the probability that the pink trendline could be the more valid of the two bottom trendline to the falling wedge. I would definitely prefer the pink line to be the more valid since it has the higher breakout target. Of course, as always there’s always the chance these patterns could break downward and confirm a bear market. I would still be leaning bullish myself until I saw a lower low formed as well as a weekly close or 2 below the bottom brown trendline though. *not financial advice*
KRAKEN:BTCUSD
by DrDovetail
Bullish momentum to continue? Hello friends, let's look at the ETH/BTC chart. ETH appears to be in a Rising Channel against BTC. The Channel Support faced a crucial test at the beginning of March as the 50 EMA crossed below the 200 EMA (Death Cross). Bullish momentum held and ETH has enjoyed a 16% bounce. Bulls gained a confidence boost in early April as the 50 EMA crossed back above the 200 EMA (Golden Cross). I'm expecting this bullishness to continue and will be looking for an entry to increase my position. Good Luck. ---------------------------------------------------------------- These are my personal views and not financial advice. Please do your own research before investing. I'd love to hear your thoughts, ideas and feedback. Feel free to Comment and I'll try and get back to you quickly. If you appreciated this analysis, consider Liking or Following . Thanks!
Long
by mercury_rising
Will bulls hold back the apocalypse?Hello friends, I'm just getting back to the charts after an unexpected break. Let's dive into BTC. We appear to be in a macro Rising Channel going back about a year. If we manage to get a strong bounce off the Channel Support, a return to the top of the Channel would become more and more likely. However, that's a strong "IF" and I'm not convinced that the Channel Support will hold. If that support breaks, then I believe we'll see a capitulation move that could take us down potentially another 30% until we find strong support at the Weekly 200 EMA. For my own trading, I'm waiting for an obvious buy zone (lowest indicator), and bullish divergence on the Daily and 4-hour charts before I'm ready to go long with conviction. Good luck! ---------------------------------------------------------------- These are my personal views and not financial advice. Please do your own research before investing. I'd love to hear your thoughts, ideas and feedback. Feel free to Comment and I'll try and get back to you quickly. If you appreciated this analysis, consider Liking or Following . Thanks!
by mercury_rising
1
BTCUSD - Bitcoin resistance and bullish divergence 20110410Bitcoin didn't break to the upside according to the previous target but it's still contained between the upward sloping lines of the ascending channel. The price suffered some pressure and broke to the lower part of the channel (below the median line). However, the chart shows a bullish divergence which demonstrates that bears are losing power and that bulls can be ready to control, confirm the bullish divergence with the price and RSI oscillations in the chart. The price should pass the median line of the ascending channel, approximately around $43,500, to enforce the narrative that the bulls are taking control. There's some resistance at around $45,600 and $46,900 so the price may struggle to break these levels, something to watch closely. If the price breaks above $43,500 it can go to around $45,600. If the price doesn't break above $43,500 it can go sideways or to the lower trend line of the ascending channel around $40,000.
KRAKEN:BTCUSD
by saulodigital
3
MATIC/USDT - LONG IDEA MATIC/USDT - LONG IDEA The Market has moved into the Buy Zone off the Daily Timeframe and forming a nice up channel which acts as Support and Resistance moving towards our Target of 1.822. A Gartley has just been fulfilled off the 4 hour timeframe which normally could signify the new low price for us buy the market on our way up to our daily target 1.822. We have found that there's a inner up channel trendline and a outer trendline , the question would be will the Market reverse now or will the market want to test the outer trendline which also acts as a Support Level as well. Trade : TP : 1.822 SL : 1.195
MLong
by MartinSturks
BTCUSD - Bitcoin uptrend 20220406Bitcoin broke the downtrend and build up with higher highs and higher lows. It seems to be forming an ascending channel with a settlement in the upper part of the channel, denoting an indication to break to the upside. It's also testing the 200 MA which is working as a mediator between trends. In the last few days, it seems to be forming a bull flag, if it breaks to the upside the target can be around USD $53,500, if it breaks to the downside the target can be around USD $40,000.
KRAKEN:BTCUSD
by saulodigital