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Channelbreak

BTCUSD 1D ASCENDING CHANNEL BREAKOUTAscending Channel Ranges are repeatable trading chart patterns. Channel ranges are consolidation chart patterns that can breakout either direction. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. Whatever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart). Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place. Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement. When you see descending Volume bars and descending ATR line (which indicates volatility) this shows a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern. Trade Management after there is a breakout candle close. 1 - Position size (compare volume bar to volume ma line). a - Breakout candle must be 100% of average volume for a full position size. b - If 75% of average volume then ½ position size. (To find 75% of Volume look at the charts volume settings – divide smaller # into larger # = 75%+) 2 - Enter two trades. 3 - SL for both trades will be 1.5 x ATR. 4 - 1st trade TP will be 1 x ATR. 5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price. 6 - When 1st TP hit – move 2nd trade SL to breakeven. 7 - Adjust the 2nd trade SL to follow price. *8 – After Breakout candle – if price closes back into chart pattern close trade *9 - When breakout candle is more than 1 ATR from breakout candle open. a - Enter 1st trade at candle close with ½ position size. b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open. c – Price should pullback to that pending limit order for 2nd trade. d – If Price returns back into chart pattern close trade before SL is hit.
COINBASE:BTCUSD
by Tradingstrategyguides
4
EURUSD - SELL now! - Channel BreakHi Traders! The market is an uptrend. As you can see the price is moving up since it reached the Support at 1.07300. After that it was moving in a Parallel Channel. A channel is made of two parallel Trendlines. Price is moving between these. In this case, we have two channels: - the older one - and the newer one. The market just broke the channel. We recommend to trade when the market closes this candle! Thanks and successful Trading :)!
Short
by swissmoneymakers
1
NQ1! 1D BEAR FLAG SHORT TRADEBear Flags are a form of a Range Pattern and Bear Flags are repeatable trading chart patterns. Bear Flag chart patterns will have a directional bias depending on the previous incoming trend (Short trade). Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. Whatever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart). Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place. Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement. When you see descending Volume bars and descending ATR line (which indicates volatility) this shows a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern. Trade Management after there is a breakout candle close. 1 - Position size (compare volume bar to volume ma line). a - Breakout candle must be 100% of the average volume for a full position size. b - If 75% of average volume then ½ position size. (To find 75% of Volume look at the charts volume settings – divide smaller # into larger # = 75%+) 2 - Enter two trades. 3 - SL for both trades will be 1.5 x ATR. 4 - 1st trade TP will be 1 x ATR. 5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price. 6 - When 1st TP hit – move 2nd trade SL to breakeven. 7 - Adjust the 2nd trade SL to follow price. *8 – After Breakout candle – if price closes back into chart pattern close trade *9 - When breakout candle is more than 1 ATR from breakout candle open. a - Enter 1st trade at candle close with ½ position size. b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open. c – Price should pullback to that pending limit order for 2nd trade. d – If Price returns back into chart pattern close trade before SL is hit.
CME_MINI:NQ1!Short
by Tradingstrategyguides
BTC Breakout confirmed on the 1H candleI just wrote a bearish capture outlining what happens if we stay in the descending channel we had been bound to since we broke out of our 7 week ascending channel that started at the beginning of the year. Well not more than an hour or two later that channel was broken, BTC broke up and then came back down and appears to have converted the top of that channel into support. I write this as follow up but in general as channel and trends break, as we see a divergence, we know a further reversal to some extent is likely. So if you see a channel and you see it break, be vigilant and assess the factors of the break such as if it was up or down, did it come back down and convert the previous resistance into support, has it already passed multiple resistance lines, has it broke out further than previous breaks in the trend, etc. I just converted from short to long on my leveraged trades but I suspect this just bounces us back into the descending channel we had already started ("Why not this descending channel") which would have us slow trend down until around May. The COV19 has devastated stock markets, its impact to crypto overall is yet to be seen, will it rise like gold or be impacted by developer shortages, something like this could have unforeseen impacts that invalidates a lot of short and medium term patterns. In the case of the S&P, even the 10 year bull trend has been broken. Here is what I am seeing as our greatest short term hurdles if we in fact do head back up. $9100ish, bottom of previously developing descending channel, $9500, Strong Horizontal historic resistance/support $9700ish, top of previously developing descending channel. This is a break out but could just be a break out to a slightly higher and slower descending pattern. So far there is still a really good chance we touch the 5 year trend-line before we go over the highs we established in January. Do your own research, be tentative to charts when you have money in the markets, be prepared to act on channel and trend line breaks, good luck. s
COINBASE:BTCUSDLong
by EncryptShawn