Channeltrend
Ocean detailed analysis #ocean is ranging in 1hr descending channel. A short scalp exists with tight stoploss.
While On Big time frame, there is descending channel. If breakout happens then price will touch green lines otherwise red lines. support resistance provided.
Complete scalp signal provided in Grp.
Nasdaq -> -20% Massive Drop Ahead!Hello Traders and Investors ,
my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Nas100 💪
Looking at the macro view on the monthly timframe you can see that at the moment the Nasdaq is retesting massive resistance of the 10+ years rising channel formation so I do expect a monthly push lower.
With the recent strong rally on the Nasdaq it is quite likely that we will see at least a retest of the 0.382 weekly fibonacci retracement level which is then maybe acting as a first strong support area.
My last analysis on the Nasdaq perfectly played out with the Nasdaq breaking below the daily bullish trendline and creating a double top in the process - therefore everything is currently looking quite bearish and I do expect more daily downside.
Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint📈
Thank you for watching and I will see you tomorrow!
My previous analysis of this asset:
KPR Mills: Headed for a channel tradeCMP: 668 | Industry: Textiles
P/E: 28.87 | Industry P/E: 33.2|ROE: 23.4% | ROCE: 24.4% |BV: INR 108 | EPS: INR 23.1| MCAP: 32,033 Cr.
Aggressive Entry: 668 | Resistance Levels: 710 | 756 | 801 Stop Loss: 598
Confirmation entry levels > 680 | CCI: 92| EMA (9d): 658.7 | S. RSI: 72
Analysis: KPR Mills formed its last bottom in December 2022 at 485. Post that the stocks have been forming new higher highs and higher lows within a parallel channel with decent consolidation of 4 – 5 weeks on average before every rally to new monthly highs. The red line indicates the channel bandwidth line and a close above this line would indicate a confirmation to trade up to and beyond channel resistance levels. Entries at current levels can be taken for 710 levels and a strong support stands at 600, a close below which will hit the stoploss.
EurUsd -> There Is Your Bullish Plan!Hello Traders and Investors ,
my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of EurUsd 💪
EurUsd just perfectly retested and already rejected the 0.618 fibonacci level in confluence with a retest of previous support which was after the break turned strong resistance.
EurUsd is also now approaching weekly support and also the bottom of the solid rising channel so after some bullish rejection it will be quite likely that EurUsd provides more short term bullish upside.
With the moving averages shifting bearish on EurUsd just a couple of days ago, there is no need to look for a long setup now - Instead I am waiting for the inverted head and shoulders to play out and then I am looking for longs on a retest of the neckline.
Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint📈
Thank you for watching and I will see you tomorrow!
My previous analysis of this asset:
Chart pattern: ChannelA channel is a pattern used in the technical analysis of financial markets that defines the movement of the price of an asset between the upper and lower lines of the pattern (parallel lines). Channels can be bullish, bearish, or sideways.
They are reversal patterns, meaning they indicate a signal for a change in trend.
When it comes to trading them, there are different ways to do so. We can trade within the channel, aiming for the opposite end of the line we are situated on. Alternatively, we can trade the trend change. The trend change can be traded once the channel is broken, either within it or by waiting for the price to break the pattern. This latter option is riskier, but it can lead to greater profits as the trading begins at a point with a higher projected movement. (🇬🇧)
4200 coming?1. SPX weekly chart has been trading in an upward channel since the low of Oct 22. It tried to breakout of the upper end of the channel a couple of weeks back but failed. We have now seen the rejection and a bearish bar from that location.
2. The pivot high of Jan 2023 at 4200 could act as support now. The level coincides with the bottom of the channel too, as indicated on the chart.
We could possibly get to 4200 in the next 8 to 10 weeks.
Bitcoin -> Finally Ending The Consolidation!Hello Traders and Investors ,
my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Bitcoin 💪
A couple of months ago Bitcoin perfectly retested and already rejected the previous cycle high from 2018 and also the 0.786 fibonacci level so the recent rally was quite expected.
You can also see that Bitcoin is approaching the weekly support trendline of the obvious rising channel so also from a weekly perspective everything is pointing towards more continuation towards the upside.
Looking at the daily timeframe you can also see that Bitcoin is retesting daily structure which is now acting as support and also retesting the 0.382 fibonacci retracement level so I am simply waiting for a bullish rejection and then I do expect a massive daily push towards the upside.
Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint📈
Thank you for watching and I will see you tomorrow!
My previous analysis of this asset:
📈XAUUSD ready for a downtrend📉OANDA:XAUUSD
FOREXCOM:XAUUSD
Gold analytical series, Episode 22
Hello Traders, please check out my previous ideas.
If the price stabilizes above the last resistance, the short scenario won't be fulfilled.
targets are on the chart.
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CrazyS✌
Possible revers on USD$Hi, i think there is possible revers on USD.
it's may be fake breakout of the Channel as what happened in the past when the fake breakout appeared on the down of the channel ( the red circles )
the target is the down of the channel, however it can break the channel to complete the wolf pattern
Fails if it move above 120-121$ .
Mastering Elliott Wave: The importance of channelingI wanted to share my thoughts on the significance of using channeling technique in Elliott Wave theory when analyzing charts.
To begin, we draw what we call a "base channel," starting from the beginning of wave 1 and extending it to the end of wave 2. This initial channel provides us with a foundation for analysis.
The following occurrence of an impulsive breakout beyond this channel signals the initiation of wave 3. At this point, we create a new "Acceleration Channel" to track the movement of wave 3. If this newly drawn channel is breached to the downside, it suggests the possibility of a correction for wave 3 underway.
As seen in the picture, the original base channel we drew earlier now acts as a support level for wave 4, accompanied by consolidation around Fibonacci levels. This observation has been witnessed numerous times in the past.
When the corrective channel experiences a breakout with above-average volume, it serves as a signal indicating the completion of wave 4. This event provides an opportunity for us to establish Fibonacci targets for profit-taking.
In this particular example, I have chosen to draw the corrective channel only on the final leg of the ABC correction, enabling us to catch the breakout at an earlier stage. A more conservative approach, however, would involve waiting for the breakout to occur after wave B has been surpassed.
Hope this was helpful for those wanting to learn more about channeling and Elliott Wave.
SNOW another technology company tolerating Bidenonomics LONGSNOW on the 4H is seen trending from from earnings in May with the great top line
and okay bottom line with a big uptrend into a sideways wide range channel.
It is now low in the channel but still above the long term anchored mean VWAP which
is the logical stop loss for any long trade setup. Confluent support is the POC line
of the visible volume profile with the upper high volume profile providing the
the expected range of a long trade. The Volume Price Trend indicator
and the MACD are synergistic in their confirmation. Fundamentally, SNOW is in
the AI revolution and its role in streamlining processes and lowering costs for the government
and businesses. The logical target here, the second deviation above mean VWAP presently
at the 193.45 price level. This line pushed the price back down 4 times in the past 8 weeks.
I see the quick 10% upside as good for a long trade knowing well-managed options
trade could produce 100-150% easily in capitalizing on AI software tech and the heavy
hitters of the new NASDAC leading the index higher and faster. What a great concept
more snow while the climate heat wave is unrelenting. I will enter here with a sizeable
stock trade while considering a 10-30 DTE call option to catch the ride toward the
target mentioned here.
EURCAD I Long from trend line supportWelcome back! Let me know your thoughts in the comments!
** EURCAD Analysis - Listen to video!
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