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Channelbounce

Nymex Futures Long CL1!Wait for the pullback down to the orange box for a long entry The support shown has confluence with the 100EMA, .618 Fib pull from the last swing high and the bottom of a respected channel . Expecting a bounce in the area shown but please be aware of the numbers due today and tommorow . The American petroleum Institute on crude oil stock levels as well as official numbers from the Department of energy on the 17March. Set a Alert for this trade and watch how the market reacts to the data with a solid plan . Show your support with a Like and a Follow .
NYMEX:CL1!Long
by SJTRADESFUTURES
A DASH to 33% profit in 33 hours?DASH has taken off these last few days with huge fluctuations of 30%+. It's currently headed for support level, hopefully followed by another huge rebound, all in the next day or so. What do you think? Will it bounce or drop under support level? It could drop even faster and farther in the next 6 hours down to $230 or below. And it could rise a good bit further as the first high did. I think setting buy and sell targets at $235 and $315 is pretty safe if it does bounce though. Interested to hear thoughts and comments.
Long
by cyberalchemy
IRIS/BTC - falling wedge right on previous channel topIRIS/BTC got listed on Binance a few days ago, formed a falling wedge since then and looks ready for a bounce. The wedge ends right on the top of the previous uptrend channel which also has additional support from the 45m and 1hr 200 MA. Order books are thin as paper so I expect a bullish breakout soon. Buy zone: 490-540 sats Depending on your risk management you might want to wait for a breakout before entering. Best of luck and let me know what you think!
ILong
by Wolfy_
Historically Channeling Stock - Buying the BottomSimple but effective: to add to the general idea of buying a stock that's in the extreme range of a channel, this stock is continuously ranging within channels for the last bazillion years. Since we're nearing a bottom and the stock is in a general uptrend anyway, that compiles to three solid reasons to consider going long on this stock. Reasons to buy at current price: - Buy near the bottom - Buy on the uptrend - Buy the confirmation of historically validated plays Potential objections: - US Market is overextended - Channel is not consistent enough - Previous data is scarcely relevant as market conditions were different - Not analyzing this stock fundamentally at all, adding uncertainty and thus risk My verdict: - I will still go long on this stock, but not with an unusually large position size. Just scraping off of a pattern with the idea of having an edge on the market. Happy trading!
NASDAQ:ALLTLong
by ralphschraven
EURGBPChannel respected, or not - we will see. The down move was a zigzag, with the triangle in wave B. To confirm the upside - need an impulse up, overlapping wave A extreme of the zigzag, and a correction. Lower boundary of a channel should act as support. PS. Channeling techniques for Elliott waves have some specifics. If we draw a channel to project wave4 of the impulse (like shown on the chart), it has not to stand and may be broken. Nevertheless, it has its support/resistance power. If broken but by the wave 4 - when price returns to the channel, it speeds up to complete the fifth wave
Long
by UnknownUnicorn3382580
1
SPX Finding Support at upper channel boundary; retest ATH?Getting higher lows and support inside the narrow wedge channel at and above 3095. This can break anytime, but it looks and feels like we could get a retest of ATH price at top of channel before it rolls over, to give a double top. RSI and volume diverge but often get the retest on low volume and relatively weak price action. Hanging on to my seat atm, watch, wait! Fridays have been bullish for months...! We do have a gap down to fill, these seem to be governed by an 'invisible hand' that requires fillage! This isn't advice; just a probably useless speculative observation. FGS be carefull out there, trade at your own risk!! GLTA!!!
TVC:SPX
by DaddySawbucks
5