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Descending Channel

IDX:ERAA Three Drive Pattern and Double BottomENGLISH: By paying attention to the consistency of the IDX:ERAA market movement, it can be predicted by using a descending parallel channel and three repeating patterns, the ERAA market will bounce to 525-540. If there is a daily market opening above 540 then there is a high probability that IDX:ERAA will break free from the bearish trap and return to bullish. However, by looking at the current conditions there is still no certainty, the main bearish target is the formation of a double bottom between 410-382 BAHASA: Dengan memperhatikan konsistensi pergerakan pasar IDX:ERAA dapat diprediksi dengan menggunakan paralel channel menurun dan tiga pola mengulang, Pasar ERAA akan mantul ke 525-540. Jika ada pembukaan pasar harian diatas 540 maka besar kemungkinan IDX:ERAA akan terlepas dari jerat bearish dan kembali bulish. Namun dengan melihat kondisi saat ini masih belum ada kepastian, maka target bearish utama adalah terbentuknya double bottom antara 410-382
IDX:ERAA
by deSultanTM
NVDA: Reached a Critical Turning Point | Weekly Analysis.• NVDA is extremely bullish, and in spite of the top signals it gave us last week, it didn’t trigger any single one of them, frustrating any bearish thesis on it; • The 21 ema, the first support level, has been acting as a good support level this year; • The $262 is a key support level, and only if NVDA loses it we might see a further correction, maybe to the $244; • There’s one problem with this bull trend, though, which is the previous resistance at $289 (green line). NVDA has yet to break this key point, which is a quite important one, especially if we see it in the weekly chart. • The $289 is a previous top level from March 2022, and this is why if NVDA triggers any top signal around this area we could see a sharp correction; • Keep in mind, the trend is very bullish, as this year, NVDA did an upwards breakout from a Descending Channel and it triggered an IH&S chart pattern; • However, any top signal could trigger a correction to the 21 ema in the weekly chart again, and this wouldn’t ruin the bullish momentum in this time-frame; • So far, there’s no top signal or bearish structure indicating a pullback, and NVDA has everything to retest its ATH again, but we must keep our eyes open in this area. I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis.
NASDAQ:NVDA
by Nathan_The_Finance_Hydra
Descending Channel on NZD/CAD @ W1A descending channel has formed on the weekly chart of the NZD/CAD FX pair and offers a bullish breakout opportunity. The pattern's borders are marked with the yellow lines. The potential entry level is at the cyan line. The potential take-profit level is at the green line. The stop-loss is to be set to the low of the breakout candle (or to the low of the preceding candle if the breakout one is trading mostly outside the channel) - it isn't shown on this chart.
Long
by AndriyMoraru
USDJPY in a Downward ChannelUSDJPY has been trading in an upward channel for the past month, which suggests a bullish trend in the pair. However, over the past week, the price has consolidated into a downward channel, indicating a possible reversal or correction in the trend. It is important to note that a downward channel is a continuation pattern, which means that it is likely to continue in the direction of the previous trend. In this case, as the previous trend was upward, it is possible that the price may break out of the downward channel in the upward direction. Traders should keep a close eye on the price action to identify the breakout direction and time. A break above the upper channel line would confirm the bullish continuation pattern, and traders could look for long opportunities. On the other hand, a break below the lower channel line would signal a bearish reversal, and traders could look for short opportunities. It is important to exercise caution and wait for confirmation before taking any positions, as false breakouts can occur. Additionally, traders should use appropriate risk management strategies to limit their exposure to potential losses. In summary, while USDJPY has been in an upward channel for the past month, it has consolidated into a downward channel over the past week. The continuation pattern suggests a potential upward breakout, but traders should wait for confirmation and use appropriate risk management strategies.
Long
by lukaswils
USDJPY - Descending Channel Hello fellow traders, as we can see USDJPY is urgently trading in a descending channel and reached a point of resistance. This resistance is also confirmed by a key FIB level @.786. If this holds we can expect to see price move towards the next support around 128.00. Upgrade your trading with me For FREE SIGNALS and if you would like to see updates on this idea and many more please follow: @wrightwayinvestments @wrightwayinvestments @wrightwayinvestments ✅ Hit the like button, and share for more!
Short
by WrightWayInvestments
Shiba Inu - 23% crash, best opportunity! (long-term outlook) We have a great opportunity to buy/long Shiba Inu at the yellow trendline, which is a good support level for a short-term trade. Unfortunately, the Shiba Inu coin still looks really bad on the highest timeframe. All previous pumps were only an ABC 3-wave structure, which is overall definitely not a good sign! The bulls still don't show strength from the Elliott Wave perspective because we can see 3-wave structures upward and 5-wave structures downward. After the breakout of the blue parallel channel, the bulls completely failed to continue in the uptrend; it was essentially a fakeout or a bull trap. This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately. 23% crash is pretty likely at this moment, and you can take this opportunity and long shiba inu at the support line with leverage on the futures market! Is the bottom in for shiba inu? From my perspective, - NO. I believe we will eventually reach 0.00000500 (a 55% drop from the current price). This is my idea for the Shiba Inu coin; now do your actions! Thank you, and for more ideas, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
69
NVDA: Incredibly Bullish!• NVDA is very bullish, and it seems it wants to hit its next resistance at $289; • As seen in the weekly chart, there’s no top sign nor weakness signs indicating that it could correct from here; • What’s more, NVDA triggered an IH&S chart pattern in January, and it did an upwards breakout from the Descending Channel (purple lines) it was trapped inside; • Could NVDA correct from here? Yes, and a pullback to its 21 ema would be acceptable, as the last time we hit it was a couple of months ago. However, in order for a pullback to materialize, we must see a reversal pattern in the daily chart: • In the daily chart we see nothing but a series of higher highs/lows, above the 21 ema – An incredibly strong bull trend; • We would need to see a clear bearish structure, like a lower high/low, a top/reversal chart pattern like a Double Top, H&S, etc. So far, there isn’t any meaningful bearish sign; • In this scenario, NVDA could trigger a sharper correction, and maybe even fill the gap at $210 (which is very close to the 21 ema in the weekly chart, by the way); • However, even if NVDA does a correction of this magnitude, it wouldn’t ruin the bull trend seen in the weekly chart, only in the daily chart; • I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis!
NASDAQ:NVDA
by Nathan_The_Finance_Hydra
6
BTC SHORT, BEAR'S LAST STANDA lot of resistance at ~24.5k, coming from a long-term channel since the ATH, and the local high of ~25k in mid-Aug. Shorting given a recent decline in volume and OI slightly declining at these prices. . However, upon doing so one must consider the bull/bear case that may play out. BULL : Nov. 15k was the bottom, and we may either be in a new bull market cycle or still within a bull market that started in 2018 on the way to 100k by EOY. For this to be the case, we must hold ~18.5k-19k, with no daily closes below it, and allow a re-entry, followed by a smash over 25k. Once done, bears have a final stand of ~27k which currently follows the 12-month MA on the BTC spot index chart. If we close above the 52-week MA, the bear market is over. VWAP lines represent areas of resistance if the bull case plays out. There is some evidence of a parabolic move possibly playing out thanks to TechDev_52's tweet of a correlation between BTC and Global Liquidity (CN10Y/DXY) where "Every ATH-setting move began after CN10Y/DXY closed above its 3W 20MA" with every "major impulse topped *at most* 12 months later". So, at worst a parabolic run could come by to stop by Nov. 2023 Failure with that brings the bear case... BEAR : Bottom not in given macro conditions and projections on SP500, which could be correlated with BTC. 24k strong resistance, we correct past the CME gap at 20k, play around with 19k followed by a sudden close under it, which can bring us to 14k, maybe even 12.5k. There is a minor "NEUTRAL" case where a double bottom could form ~14.5-15k, where we do get a bull re-entry as noted on the chart, break 25k, and then get slapped hard at 27k-34k, all the way back down to 24k followed by 14-16k, and then trigger another bull re-entry similar to how 2019-2020 played out or even back in 2015 that had a double bottom. I was wrong on the last BTC trade as the trend changed on Jan. 12th following a possible short-term regime change around EOY 2022, be it market participants entering back in after selling off in Q4 for tax reasons, macro liquidity flows, etc. Overall, I think we'll range for a while between 27k-14k, followed by another explosive move on the low end of that range toward 30k. I don't know how long, maybe months. Trades: Short E: 23.1k SL: 26k TP:20k, 18k, 15k (likely close), 12.5k Long E:20k SL:17.8k TP:25k, 27k, 32k SPY SPY short has not changed. I could see SPY targeting ~420 and then starting a new downtrend, SL adjusted a bit higher to 427. I will say at these prices, both BTC and SPY have growing voices of bears and bulls. A lot of long hedgers at $SPY since the Oct. and late Dec. bottom, and on late Dec. for BTC. Break those levels and we're in for extreme fear. Q1 2023 volatility could still spike if geopolitics play out concerning control over oil in the middle east/eastern Europe if EV infrastructure is proven incapable of sustaining itself at scale by 2030.
CME:BTC1!Short
by linebands
VET/USDVET/USD very quick update. Here is a closer look at this VET/USD 1 day chart: VeChain is in a new smaller Descending Channel which is in a massive Descending Channel. VeChain is also in a massive Symmetrical Triangle. At the moment of typing this, VeChain is still in the Bullish Zone above its Ichimoku Cloud. At the moment of typing this, VeChain is still above its 200MA. Note that the 50MA is still traveling upwards so we may eventually see the 50MA cross above the 200MA on this 1 day chart. Not that overall traded volume is still very low compared to what we were getting from 2018 to 2021. Looking at the Average Directional Index (ADX DI) we can see that the Trend Strength is dropping with the ADX (Orange Line) at 36.08 and under its 9 Period EMA (Black Line) which is at 39.52. Positive Momentum has dropped with the +DI (Green Line) dropping to 19.73. Negative momentum has also dropped a little with the -DI (Red Line) slightly dropping to 15.87 on this 1 day chart. I hope this very quick update is helpful.
BINANCE:VETUSD
by TradingThroughTheLens
SPX: Loss of a Critical Support Level.• The SPX is crashing again, after it bounced yesterday. In fact, yesterday’s bounce seems to be a false breakout from our dual-resistance area made by the lower purple trend line and the 3,885 red line; • This is a sign of weakness, and since it can’t get above the 3,885 key point, in theory, the index is going to seek its next support level at 3,773; • In order to avoid such a drop, it is very important to see it closing above 3,885 this week. This wouldn’t be a bullish reversal, though, but it would at least stop the bear trend; • In the weekly chart we see why the situation is so delicate. After a false breakout from a a pivot point (4,100), the index is just melting, losing its support levels; • Now, the SPX is back inside the Descending Channel, and again, the 3,773 is our key point here; • Therefore, in order to avoid this scenario, we would need to see a very impressive bullish reaction – so far, there’s none; • I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis!
SP:SPX
by Nathan_The_Finance_Hydra
TSLA: About to Bounce.• TSLA is reacting now that it hit its 38.2% Fibonacci’s Retracement; • This is expected, but TSLA is still in a bear trend, and there’s no bullish reversal structure on it yet; • In the 1h chart, it is inside a Descending Channel (trying to break it this morning), while in the daily chart, it triggered an H&S chart pattern; • In theory, a pullback to the neckline is acceptable, which is at $187, exactly where the 21 ema is today, making this area a dual-resistance level; • The 38.2% retracement is our key support, and in order for TSLA to resume the bearish momentum, it’ll need to break it again. Right now, we are between two important key points. Let’s see how TSLA will react from here. Remember to follow me to keep in touch with my daily analysis!
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
4
SPX: Crashing! How Low Can It Go?• The SPX lost two important support levels last week. First, the 3,885, a key point that worked as a support a few times this year. Second, the baseline of a Descending Channel; • Meaning, the trend was already bearish, now the index is just crashing; • There’s no meaningful bullish reaction indicating that a bottom is near; • Even if the index reacts today, the problem is that the previous support levels, the 3,885 and the baseline of the Descending Channel, are now resistance levels, and any bearish sign under this resistance would mean an opportunity to sell. Now, let's take a look at the weekly chart: • In theory, the SPX is looking for its next support, which is at 3,773, and that's the next technical target in the daily chart. Long-term speaking, if the index loses this support, it would trigger a kind of Double Top chart pattern in the weekly chart, indicating that it could seek the 3,500 next. Remember to follow me to keep in touch with my daily analysis!
SP:SPX
by Nathan_The_Finance_Hydra
4
BNB/USDT 4HInterval Resistance and SupportHello everyone, welcome to a review of the BNB chart on a four-hour time frame. First of all, with the help of blue lines, we will mark the downtrend channel in which the price is currently moving. Now let's move on to marking the support spots for the price and we see that we first have very strong support at the so-called golden point of the Fib Retracement at $265, but if the price goes lower, we have another support at $245. Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we see that the first resistance is at $282, the second resistance is at $293, and then there is a strong resistance zone from $302 to $310. The CHOP index indicates that the energy has been used, the MACD indicates the continuation of the downward trend, while the RSI has fallen below the lower limit of the range, which has now resulted in a temporary change in the trend.
by cryptodailyuk
SPX: At the bottom of a Descending Channel.• The index crashed again yesterday, and it lost the support at 3,949, and hit the bottom of its Descending Channel; • What’s more, the 21 ema did a good job holding the price, as it worked as a resistance yesterday; • Now that the index is in a support level, a bullish reaction is plausible; • If the SPX confirms a bottom in this support area, it might indicate that it’ll look for its resistances again. Ideally, it will seek the upper trend line of its channel; • Since the trend is bearish, a bullish reaction should be considered a bounce. In order to reverse the bearish bias, we must see a bullish reversal structure. Remember to follow me to keep in touch with my daily analysis!
SP:SPX
by Nathan_The_Finance_Hydra
1