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Channelbreak

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
SOL/USDT : Breaking below the descending channel! BINANCE:SOLUSDT Hello everyone 😃 Before we start to discuss, I'll be so glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it! $SOL has broken below the descending channel on the current daily candle. So the major movement is expected to be bearish, But there's a formed bullish order-block at the current price level. That's why we'll need to break below the order-block to confirm both bearish break below the channel and bearish movement as the majority. - Also, We'll have the opportunity to locate our Short into a proper retest of the broken order-block at $34.00 and aim for May's Low at $20.00! In other terms, If we get the support for the current order-block, Then it'll activate the pullback scenario towards $58, So it'll come with Possible Long positions, But it's not our main scenario yet! Hope you enjoyed the content I created, You can support us with your likes and comments! Attention: this isn't financial advice we are just trying to help people with their vision. Have a good day! @Helical_Trades
Short
by Helical_Trades
34
Will this be the end?NYSE:BABA Today the overall market had a green day, many big names like TSLA and FB rallied more than 4% today. But the question I am going to ask is: “Do you think this is the end of the enormous channel BABA has been trading in? BABA started trading in this channel since 2020! But BABA sort of broke out today. But this could also be a bull trap. Today’s volume was just a tiny bit under average. Maybe this is the beginning of something enormous. Please watch my related article about channels, at the related idea section. To learn more about this intriguing chart pattern. Curious about your point of view. Let me know! This is no financial advice
NYSE:BABA
by StijndeVries
A Channel pattern - EducationalA channel is a chart pattern. And uses trendlines. A channel indicates an entry and a possible exit. It can also control the risk. A channel consists of two parallel lines, between which the price moves. Drawing a channel: Ascending channel - During an uptrend, draw the basic up trendline along the lows. Then you draw a line from the first peak which runs parallel to the basic up trendline, these lines now form a channel. If the 2nd peak reaches the upper line of the channel a channel can be said to exist, but a third test of the trendline is always needed to see if the trendline is really accepted. Descending channel - During a downtrend draw the basic down trendline along the highs. Then draw a line from the first bottom which runs parallel to the basic down trendline, these lines now form a channel. If the 2nd bottom reaches the bottom trendline a channel can be said to exist, but a third test of the trendline is always needed to see if the trendline is really accepted. Horizontal channels are like rectangles, they are called trading ranges. How to profit from this pattern? Short term (uptrend) A long position could be opened when the price is at or near the basic up trendline. One could even open a short position when the price is at the top of the channel, but beware! Going against the trend can have negative consequences. Short term (downtrend) A short position could be opened when the price is at or near the basic down trendline. A long position can even be opened when the price is at the bottom of the channel, but beware! Trading against the trend can have negative consequences. Try to take profits the moment the price, comes close to the trendline on the other side, you could thus switch your position from Long to short and visa versa. Remember, the higher the timeframe you use the more reliable the trendlines become, also a trendline is more reliable if the trendline has been tested often. Trading the channel breakout The failure to reach a channel line is often an early warning that the channel line on the other side will be broken. Once a channel is broken a move of around the width of the channel can be excepted. So a larger channel usually have bigger profit potential. You can use certain technical indicators with a channel, for example 'volume', pay attention to whether the volume increases the moment the price breaks out of the channel, if this is not the case it means that the channel is probably still intact. Profit targets and a Stop-loss As I already mentioned the intention is to take profit the moment the price is on the other side of the channel. Imagine this: There is an ascending channel, the price is moving around the basic up trendline (base line), then you can enter a long position. Then the price is moving towards the upper trendline of the channel and you can take your profit. If you like you can take a short position here, but beware! Trading against the trend can be dangerous. But where is your stop-loss? I already said it many times: always place a stop-loss before you forget it and before you start doing other things! In the preceding example you place this stop-loss just below the base line at the long position, keep a little space between the base line and your stop-loss! It could happen that the price breaks through the channel lines on an intra-day basis, but only when the price closes outside the channel line this could be a sign of a breakout. For the short position from the above example, place your stop-loss just above the upper trendline, with some distance in between. Here are more examples: I wish you all the best! This is no financial advice. BITSTAMP:BTCUSD
BITSTAMP:BTCUSDEducation
by StijndeVries
2
ZIL/USDT : Reached channel's top! BINANCE:ZILUSDT Hello everyone 😃 Before we start to discuss, I'll be so glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it! $ZIL has formed a descending channel and it has reached the channel's top. Despite the current market's bias, I'm expecting more corrections to come; Because of the recent bounce without any retracement. In macro overview, It must come with a fake-out above the channel and experience the rejection from the higher resistance zone at $0.11. So based on the data we have, There'll be opportunities to take Short on... - On the rejection of $0.11's resistance zone and current rejection from S/R line and channel's high. - On the proper retest of broken lower S/R zone at $0.85. 🔴 Invalidation should be located as active management above the higher resistance zone. Hope you enjoyed the content I created, You can support us with your likes and comments! Attention: this isn't financial advice we are just trying to help people with their vision. Have a good day! @Helical_Trades des
by Helical_Trades
24
AAVEUSDT is trying to have a breakout!The price is creating a descending channel after the breakout from the falling wedge as I told you on my previous idea On the daily timeframe the price is testing the key level on 150$ and the market is trying to protect the low. On the 4h timeframe the price got a rejection from the daily resistance on 175$ How to approach? The price needs to have a new breakout from the 4h dynamic resistance and daily resistance. the next valid key level is 190$. 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
8