INJ - Descending ChannelINJ has recently entered a bearishn trading channel. price managed to bounce from the lower bound but it is showing weakness in its rebound.
If the lower bound gets broken down, there is room from further downside.
if the price manages to bounce back, it will have to fend off the upper bound of the channel before confirming the upward trend. Upper bound represents a good entry point for further short position
Channelbreak
📉✌BTC 1H Long Position✌📈BINANCE:BTCUSDT
COINBASE:BTCUSD
If you don't agree with my idea, don't open any positions.
💥Three Drive pattern💥
Between now and the yellow area, you can open a long position in two steps.
If the price rises and reaches the risk-free level, you can risk-free the position.
TP1-2-3-4 are on the chart.
The optimum stop-loss is below the determined area.
Please share ideas and leave a comment,
let me know what's your idea.
CrazyS✌
📉✌ETH 15Min Short Position: Risky✌📈BINANCE:ETHUSDT
COINBASE:ETHUSD
From now on by the time the price stays between two red lines, you can open a short position in two steps.
If the price falls and reaches the risk-free level, you can risk-free your position.
TP1-2-3-4 are on the chart.
The optimum stop-loss is above the determined lines.
Please share ideas and leave a comment,
let me know what's your idea.
CrazyS✌
Tightening Range on OilWatching WTI this morning as we continue to see it tighten between the recent downtrend line and the high line from the daily down channel from a few weeks ago.
The high line was respected from Oct 5th -7th, even though we haven't had a precise close on the 30min TF, price has rejected from that area so I think this is safe to view as a descending wedge.
USD/CAD -10/10/2022-• Bullish trend still in play and intact
• Prices recently broke an ascending channel, showing signs of additional strength of the prevailing trend
• Bulls faced resistance at 2017 high, the round level of 1.3800
• Next resistance at 1.40 psychological level and 2016 high followed by 1.4670 (2022 and 2016 peak)
• Trading recommendations:
• Might be reasonable for short term sellers to short at this point (1.37s) with a stop loss just above 1.38, betting on a short term correction
• Buyers might wait for a retracement or buy on a confirmed break above 1.38 with a target near 1.40
Next move on SPXUnfortunately the market sentiment is very negative, SPX can break the down channel either down or up. Watch the VIX for more anticipation - it is nearing its 2SD where we could see some reactions as it acts as resistance. In case it goes up towards 45, we will see SPX dropping to 3200 area, in case VIX would cool down to its average values, there could be a 30 - 40 days rally..
KPITTECH is in retracement after Channel breakoutNSE:KPITTECH midcap broke out channel pattern on 2022-09-22 and is in retracement at channel resistance turned as support.
Pros:
Strong fundamentals and financials.
Consistent revenue and profit growth.
-ve net debt.
Consistent dividend yield.
Cons:
Continuous reduction in FII and DII holding.
High PE ratio.
Price above Intrinsic value.
Entry : Enter if price goes above recent high of 684 with strict SL.
Key note : Always follow proper risk management to avoid losing capital from false breakouts as this is common.
Caution : This is a knowledge sharing analysis, not a call.
Profits are not made from following ideas, but by following Risk Management .
Dollar Index Forecast and The Increase In Interest RatesThe Dollar has been on a very strong bull run as we track it week to week. We can see a clear channel has been broken, and price interacting with quarter point. In addition. price has corrected itself by 50%! What do you think is the probability of price popping back into the channel ? Love to hear from the followers of this channel!
ETH has been trending higher the past few days (MERGE Effect? )ETH is now trading near 1650$ .
It is moving inside a rising channel on 4H time frame.
Now there are two scenarios:
1- ETH breaks down the channel then that is short term Bearish signal for ETH and it can test 1476$ - 1400$ level.
2- ETH holds the lower support zone of the channel then it can again go for upper resistance line of the channel and potentially break it.
Pick the direction according to the side of breakout.
On the daily time frame we can see that ETH is trading in an accumualtion "livermore" cylinder with targets are 2500$ and 3300$ . Invalidation of the pattern is below 1400$ .
At the moment it looks like compression is coming to an end and breakout will happen 👀
Current Resistance area between:
> 1680
> 1700
> 1790
Personal POV:
Looking for a test of the 1700$ area, hoping for a breakout toward 1800$ as continuation🤞
XAU/USD Minor Triangle!• The gold price is encased in a triangle pattern, as seen on the H1 chart. The XAU/USD pair indicated a greater increase after breaking free of the down-channel pattern.
• The channel formation was regarded as a bullish reversal pattern from a technical perspective. However, it may test and retest the support of the triangle or the downtrend line in the near term.
Good Luck Traders!
EUR/NZD for shortThis is the eur/nzd 1hr chart; as you can see we had an ascending channel, which was broken to the upside, and theoretically, if we see a breakout to the upside during an ascending channel, there's a good chance it could be a false breakout (although there are cases when it's not a false breakout, of course). So here things are like this: the price broke the channel to the upside and after a few sessions it closed again inside the channel, and here we also have the 1st lower low, so it is logical to look for some shallow retracement and go short. However, anything can happen, so protect yourself as soon as possible. Remember we have the ECB meeting next week so try not to fall into the speculation traps.
BTCHello guys.
BTC is holding above $19.5K support, which is also the first potential reversal zone of bullish shark pattern. As after break of structure an unfilled order block is formed, so there are high chances that BTC will pump now and fill the unfilled order block.
If BTC breakout that order block then the bullish rally will continue and if it rejects from there then it will most probably come towards the 2nd potential reversal zone of bullish shark pattern, which is marked with the horizontal support.
DG:Correction due?!Dollar General
Short Term - We look to Sell a break of 242.72 (stop at 250.70)
Following yesterday's bullish candle, the overall trend higher looks set to reverse today. Trading within the Channel formation. The bias is to break to the downside. A break of support at 244.00 should lead to a more aggressive move lower towards 220.00.
Our profit targets will be 220.05 and 204.00
Resistance: 256.00 / 265.00 / 280.00
Support: 220.00 / 204.00 / 184.00
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