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Channeltrend

USOIL: A broader look at the last 6 monthsHappy Black Friday oil traders! I hope everyone had a wonderful Thanksgiving! I deleted all of my other channel lines to take a fresh look at what oil has been doing and what to possibly expect for December. I am assuming the US Stock Market is going to boom today because of Black Friday, but I am not sure oil will follow. President Trump is now pushing China on Hong Kong, which they do not like so that may play a factor in oil prices in the short term. But if we look back on the daily to the lowest close in the last 6 months at $51.06 on June 12th, and then at the highest close of $60.93 on July 11th (a difference of $9.87), discounting the False Positive of the Saudi oil field attack on September 16th, we see a slow narrowing channel. Oil now seems to be hitting resistance in the $58.30 area and it has been a while since we have seen a major correction. That being said, I am expecting December to be a slow month for oil and by the end of the month return to the $53.00 area before going back up. If this interests you or you agree, please click the like button! Thanks and have a wonderful weekend!
FX:USOILShort
by Trade4God
Sp500 Enters Bearish ZoneWhat’s up Traders! Sp500 is getting pretty close to a channel roof where inside bars have been printed last Friday. If we look back 4 trading sessions ago there was a bearish pin bar but there was no volume and also we weren't really in a bearish zone yet IMO. We also have some wicks to the upside suggesting supply is coming to the market. Just remember that smart money can NOT get rid off their positions quickly due to the size their trades. Therefore they always have to sell in smaller tranches. I am now looking here to see some bearish price action around 3100$- bearish fakey + high volume would definitely tease me to short it. Good luck!
OANDA:SPX500USD
by CryptocurrencyWizard
P&G- How Micro Patterns Create Long Term Trends: PGIn this illustration, we observe how various micro patterns can translate into a longer-term macro pattern. With the case of PG, for prevailing micro patterns have progressed in what appears to be a bullish rising channel which has recently broken through. As the longer-term trend unfolds, the micro patterns will form in series of periods of high volatility and low volatility. Each pattern gives us an idea into the minds of the collective market consensus. Let’s examine what each pattern tells us in terms of an observational standpoint. ABCD: the ABCD pattern is commonly referred to as a reversal pattern. This is because the ABCD typically occurs at key turning points within a stock’s prevailing trend. The ABCD represents between B&C that light selling activity has commenced. The overall formation depicts a weakening of bullish accumulation and that although prices continue to raise exhaustion of buyers will likely proceed. Rising channel: The rising channel pattern is a highly reliable pattern that is typically considered one of the safer longer-term patterns to examine. The rising channel is characterized by a series of price changes which occur at intervals in between symmetric areas of support and resistance where the price respects these areas and makes sharp or distinct changes in between the zones. The rising channel displays that traders have a clearly defined consensus of the future value of the security, and that reasonable amounts of selling and buying activity is occurring meaning there is interest and activity and therefore opportunity. Pennant: The pennant pattern can occur in numerous phases. Typically, the phases are characterized by the ascending or descending slope of the support or resistance lines. The pennant pattern commonly occurs at consolidation zones or within the boundaries of macro patterns. Tenants represent an overall tightening and narrowing of volatility and can be used to pinpoint key turning points either bullish or bearish regarding the stocks long-term trend. Symmetric Broadening Wedge: the symmetric broadening wedge at any point in the stocks long-term trend represents an expansion of volatility. In the case of the symmetric broadening wedge, the battle between the Bulls and Bears is considered more volatile than in the case of a standard broadening wedge. Indicated by the slope of the support and resistance lines, a standard broadening wedge will likely display a flat support or resistance line and a slanted support or resistance line a symmetric broadening wedge displays two sloped lines and therefore demonstrates a maximum expansion of volatility. By examining the chart of PG, it is much easier to determine that micro patterns do in fact subsequently lead to longer-term macro patterns. PNG appears to be bullish dominated and experiencing increased accumulation over time. Although 2018 was more turbulent than two years prior, 2019 yielded favorable results for the security along with other existing industry leaders.
NYSE:PG
by CanaryJones
AUDNZD Bullish Channel AUDNZD is moving up nicely so far with in its new created channel, I believe this is still going higher and there is still money to be made here if you play it right. Buying low at the bottom of the channel can be a good idea if it holds, I have taking profits at the top of the channel and Im looking to reenter at the bottom, if it shows me a buy signal, one of the things I will look for is a increase in buying Volume at the bottom of the channel where it currently is. If it break down I'm still bullish but in the short term it might make a deeper retracement, AUDNZD if you look back at the past you will see that its very aggressive when going up so im expecting this to be no different. I hope you found this post valuable. Best of Luck With Your Trading.
Long
by ElyaStein
USD/ZAR Uptrending channel is workingWe can see the uptrending channel is workin fine on USD/ZAR. We can play on long right now until the value reaches the resistance and than we can short the usd against south african rand. RSI is the only indicator that does not support the uptrend move. By the time in case of breaking the channel’s support line, we can play short until 15.200 support line 15.696 is a critic resistance that we need to wait and see the reaction of value once it reaches the resistance.
Long
by Emrut