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Channel-reverse

TRADE OPPORTUNITY – LUNAUSDT Bearish channel 1hAfter a big rise on the daily chart LUNA is looking for the bottom to continue its trend giving us a great buying opportunity. Indicators Used *Fibonacci retracement *RSI lvls *MPVR About the BEARISH CHANNEL graphic pattern Channel of a pattern where the asset loses funds but has no downtrend continuity. It shows a depletion of buying force and tends to break out to the upside reversing the trend of its timeframe. Current scenario As everyone knows, no asset goes up forever, needing to create funds to maintain its uptrend. Luna has been in a strong uptrend for months on the daily chart always looking for bottoms when the RSI on the 1h hour chart goes into oversold. Now we are forming another fund, a great opportunity for purchases. Strategy Buy at the bottom formed at 1h in oversold. Using RSI lvls we can see the buy range where the 1h chart goes into oversold and marked with the yellow box. In the middle of this region the MPVR points to a strong support range at the value of 106, which indicates an excellent entry point. The value of 106 also coincides with the Fibonacci retracement, where 0.65 at an excellent entry point called the GOLDEN LINE. Conclusion As I always divide my equity into 10 shares and position within the yellow buy range to get the best average price, however, this time I will focus more heavily on the value of 106 due to MPVP. As Alt Coins are extremely volatile I will protect myself from an unlikely, but possible flush up to 100, a strong psychological number, positioning my STOP just below. The exits I mentioned before are made partially at each strong resistance, however if the uptrend remains strong I will make a partial gain on the first resistance and I will stop making partial gains by raising my STOP at each bottom formed at 1h to try to surf the wave .
Long
by RodrigoHonorioUK
Major Descending Channel on H4/D1 for EURCAD - BUY ALERTThis descending channel meant you could have been buying at every bottom trend line touch with take profits once it hits the top. Risky moves were selling from the top to the bottom VERY close to major support structure area. BIG BUY coming up DON'T miss this - an UNCOMFORTABLE lot size on this move will go a LONG way in proving that patterns are KING! "IF YOU DON'T KNOW PATTERNS, THEN YOU DON'T KNOW HOW TO TRADE" "LEARN YOUR PATTERNS - YOU MUST KNOW YOUR PATTERNS" --WAVE TRADER
Long
by Mahoganirjones
Kohl's - ShortStrong resistence-area at 78.75. The share did rally twice with strong momentum before to the area, but failed to break it. Nice setup for double-top might be built by the closure of this weeks session. If today's close-price stays under 75.50, position will be opened at upcomming Monday. I like the huge trading zone, providing a considerable chance-risk ratio. TP2-level chosen as previous strong momentum countermoves from resistence-area were 50% and 40%+.
NYSE:KSS
by Markttechniker
2
BTC Retrace of DumpThis is a model of the retrace from the dump to 7480. The double bottom at the vicinity of 7500 and the bounce have formed a narrowing channel heading to the first fibonacci level of 0.382 just under 7800. This should be considered a short-term entry for a short or close for longs opened at 7500-7600. After reaching this target, further upside as high as 8k is possible (.618), but ultimately, this is a bull trap/bear flag that should break down at one of these 3 levels.
BITFINEX:BTCUSD
by David_Warren_Ellison
AU long to 75.000 then short to 73.xxxAU is looking to long to 200ma, i think its going to get near 75.000 and then short down to my channel bottom (73.xxx). last week price double bottomed back into week open range and closed up, but not over the open of the week, still think it is showing bullishness but over all i am looking to short AU, maybe in the coming weeks. AU monthly is in a established channel, which alot of people would be watching to break, this week will be the end of the month, i feel like it will just keep ranging in the channel as AU usually likes to do.
Long
by Jimmyrockhard
GBPUSD hits top of daily channel, waiting for bearish setupThis is an update to my GBPUSD analysis I talked about last week. GBPUSD has hit top of daily channel with excessive volume(See daily chart). This likely suggests that buyers could have cashed out since price has not moved up for the past 2 days. I see this formation as being weak and I will be looking for short opportunities above 1.3570. What I will look out for? 1. Weak break out above last week high on LOW volume 2. Mid to high volume bar, high spread closing on the lows. 3. Will enter upon completion of 2) 4. Will target low of channel as profit target, risking about 100 pips to make about 500 pips. Will keep you guys posted.
Short
by TerryHarmonicTrading
9
SGDHKD Short OpportunityOur alert on this pair went off today and presents a nice short opportunity! We always want to first make sure that the position we are taking is not highly correlated with our other positions. Once all of that checks out, we should be good to execute. In this case we have a nice 4 to 1 risk reward setup. We want to set a limit order near resistance and wait for price to hit our order. Hopefully we get filled. I will update when/if we get a fill. Remember, keep your positions size and risk within your personal risk tolerance parameters. I recommend no more than 1 or 2% risk per trade. Happy trading! Trade Parameters: Sell Limit: 5.80310 SL: 5.90060 TP: 5.39990
Short
by BluePipSquad