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Descending Channel

Wing Finance - Extremely high bullish volume! + 900% PROFIT First of all I want you to take a look at the volume indicator - there is the highest volume spike since the coin was listed on the exchange! This coin is currently #2 on TradingView Binance USDT list. Price is printing a descending parallel channel on the daily / weekly time frame and it looks like the bulls already destroyed the main trendline. Also we can spot a local symmetrical triangle on lower timeframes and if you switch to the 4h chart, you will see a strong bullish price action. An Impulse Elliott Wave + ABC correction have been finished successfully! You can take profit at the major resistance - previous swing high (wave B) +900% PROFIT. Look at my ideas about interesting altcoins in the related section down below ↓ For more ideas please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
37
Fantom FTM - Time for the bullish action! Elliott Wave + 200 MA On the daily chart we have an impulse Elliott Wave that has been completed and because of that, I expect an ABC retracement to the upside! A very strong resistance is at 1.13 - 1.00 USDT, we have a great confluence in this zone as you can see on the chart. Confluence: start of the gap + end of the wave 1 + end of the second wave 1 + 0.618 FIB retracement + 200 daily MA + psychological level 1.00 USDT. Price is printing a local descending channel and if bulls can break through this channel, then we can definitely go higher! Overall structure on the daily chart is bearish and I recommend only a short term counter trade here. I expect tremendous pumps for selected altcoins, you can find them in the related section down below ↓ For more ideas please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
23
GBPNZD | Perspective for the new weekThis is a follow-up detail on my previous analysis as my bearish expectation appears to be intact (check the link below on my tradingview platform for reference purposes). This video explains how I plan to take advantage of a trend continuation to the downside with a caveat. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
EURCAD | Perspective for the new weekPrice action has been caught within a descending channel since the month of June and we are not sure if the price is going to continue to respect this downtrend situation or could there be a breakout of the channel to incite a bullish momentum? This video explains how I intend to take advantage of a trading opportunity this week. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
by darcsherry
Bitcoin BTC - New bull market just started! Elliott Wave + Wedge The price is currently above 22 000 USD and we have had a capitulation wick to 17 600 USD to kick out high leverage traders. I do not see any reason why bitcoin should not respect the previous all time high support from 2017 (around 20 000 USD)! Bitcoin on the weekly chart is currently sitting on the main support: Previous 2017 Swing high + 0.382 FIB + ABC correction completed! The price is forming a falling wedge pattern, which is definitely a good sign that can lead to a new bullish trend. As per my Elliott wave analysis - ABC correction (ZigZag 5-3-5) should be completed successfully and we can start a complete new impulse wave. Only Bitcoin is a safe bet for the longterm. It's the best store of value and altcoins are awesome for short-term to mid-term massive gains. I expect tremendous pumps for selected altcoins, you can find them in the related section down below ↓ For more ideas please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
62
Ripple XRP - Warning to all traders! Elliott Wave + Channel XRP is the most hated and most loved coin on the crypto market, no doubt about it. I personally like XRP, because transactions are extremely fast and super cheap, but the price action is another level! But let's take a look at the weekly / 3D chart and do Elliott wave / chart patterns technical analysis. As you can see there is a huge symmetrical triangle that has been destroyed by the bears in May 2022. Usually if a major pattern breaks down, then we need a lot of time to recover. It is a common thing to retest the triangle and then make a new low on the macro scale. What's more, as per my Elliott wave analysis, I deeply miss the next final impulse wave down to complete a major ABC retracement. If we take a look at the volume indicator - bearish pressure is still pretty high, which is not good at this moment. We have a massive parallel channel on the weekly chart and I think we can definitely retest this channel again in the future. Due to my analysis - I think we will go temporarily up from here and then a final capitulation move is going to happen. I expect tremendous pumps for selected altcoins, you can find them in the related section down below ↓ For more ideas please hit "Like" and "Follow"!
by UnknownUnicorn2537518
27
AutoFarm AUTO - Whales are buying! Breaking out + Triangle First of all I want you to take a look at the volume indicator - we have an elevated volume and massive buying pressure! On the daily chart we can clearly see a massive descending channel and the price is very close to so a breakout. Also we have a symmetrical triangle + 200 daily moving average, likewise very close to a breakout! Impulse Elliott Wave has been completed (5-3-5-3-5) and now we can expect at least a bullish retracement. First profit target: End of the wave 4 + 0.382 FIB - 91% profit at 600 USD. Second profit target (recommended): End of the wave 2 + 0.618 FIB - 425% profit at 1683 USD. Always set your profit target slightly below these levels, to make sure you will get filled. Look at my ideas about interesting altcoins in the related section down below ↓ For more ideas please hit "Like" and "Follow"!
ALong
by UnknownUnicorn2537518
43
TOTAL crypto cap - New bull market! Bull flag + Elliott wave We have a tremendous confluence to buy cryptocurrencies for a long term at this moment! It is a common thing to test the previous all time high (in this case from 2018) on the weekly chart. 200 moving average is considered as a strong support by huge instituions and hedge funds and bulls successfully defended this area! 0.382 FIB retracement is also a noticable support level on the LOG scale. As per my Elliott Wave analysis - ABC correction has been completed on the macro scale and now we are ready for another bull market! We have a falling wedge or a bullish flag - noticeable patterns on the weekly chart. Look at my ideas about interesting altcoins in the related section down below ↓ For more ideas please hit "Like" and "Follow"!
CRYPTOCAP:TOTALLong
by UnknownUnicorn2537518
19
EUR/USD – Stuck In A Descending ChannelHi Traders, As we are noticing a bounce in the forex market and as we are thinking the bulls might be coming back to start doing some damage control, we have to remember to zoom out to see what the real trend is. When in doubt, zoom out. On (EUR/USD), In the daily time frame, the price has been stuck in this descending channel since the end of January. Price has been making lower lows and lower highs since the beginning of 2022. Now, if you were a swing trader and managed to catch that double top at the end of January as a short entry and rode this pair down all this way, you would have made yourself 12% over a period of 100 days. That would be incredibly good and there are a lot of traders that have capitalized on these opportunities to go short that the Euro has given us this year. For those of us that have not had any short positions and have only missed every possible entry, well, never fear as the markets always have endless amounts of opportunity. If we jump into the 4-hour time frame, we can see that the bulls are showing their horns at the moment. However, back on the daily, it still looks like we are in bear territory. Now, I like to see a clear bounce off of the support and off of the resistance channel bottom and top to signify and validate a clear channel. Look how many taps we have had on the bottom and the top of the channel. Let's count them out. Four taps on the bottom. Six taps on the top. We can safely say that we are stuck in a channel. I also like to see the price respect the middle zones of the channel. Notice how the price has done so. Every time it touches the middle of the channel, it respects that area and treats it as Support and Resistance on the way down. So, it's all very well and good that we have identified a bearish trend and price stuck in this Daily descending channel. What good is it to us? Well, we have to look for opportunities right? Either to sell or to go long. Right now, there's no point in selling the channel bottom is there? Haha, on the 4-Hour we might see a pattern that we can use to go long. However, on the Daily, we are waiting for the price to close today above the line of resistance I have drawn. Perhaps upon a retracement to that line, we can carry this pair north to the channel top. Please remember that we need to see a reason to buy and by buying, please remember we will be going counter-trend. So our reason has to be solid. We can use the channel top as a target as we can see previously that when the price touched the bottom of the channel at the beginning of previous months, by the end of the month, the price had reached the top of the channel. This is by no means an accurate strategy that one should employ, I'm just pointing interesting things out. Please trade them at your own risk. However, I would just suggest rigorous amounts of back-testing first. One more interesting thing to notice – Volume. Look how it has been sloping downwards along with the channel. The lower price got, the less buying and selling there was and the less amount of power it took to push the price down. Should we be looking for a pop sometime soon? Things that make you go hmmm. On that note, I bid you all a great Tuesday and I will be seeing you all in the next one. The Vortex Trader
Long
by TheVortexTrader
Shiba Inu - Head and Shoulders is breaking out! + Elliott Wave On the daily chart the price is printing an inverse head and shoulders that is currently breaking out! Also we have a huge descending parallel channel, so be careful, because there is always a possibility that we will be rejected at the top of the channel. As per my Elliott wave analysis - the ABC retracement should be completed (ZigZag 5-3-5) and now we should go up at least temporarily. Wave B is always a strong resistance + 0.618 FIB, place your profit target here. Look at my ideas about interesting altcoins in the related section down below ↓ For more ideas please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
24
Marlin POND - Very bullish pattern! +150% in few days + Triangle This altcoins has an amazing trade setup for bulls! On the daily chart we can see an ascending triangle, the most bullish chart pattern and we are close to a breakout. As per my Elliott waves analysis, the impulse (5-3-5-3-5) has been completed, so we can expect an ABC retracement now. On the log scale the price is printing an descending channel and this is a nice profit target for our trade. This will be a quick trade that can take just a few days. You can buy a breakout above the triangle, If you want to increase the probability of success. Look at my ideas about interesting altcoins in the related section down below ↓ For more ideas please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
30
PolkaDot DOT - On a massive weekly support! 0.618 FIB + Channel PolkaDot was a very strong altcoin in 2020-2021 as you can see on the historical chart and we can cleary spot an impulse wave here. The coin in 2022 fell to the strongest support (0.618 FIB + Wave 1 horizontal support + POC + ABC correction). If you like fundamentals of this coin, this is definitely a good time to buy, because we have a strong confluence. The missing part is the descending parallel channel, because the price is still inside the channel, but we have had a nice touch on the bottom. After an impulse wave - ABC correction is expected and in this case, the ABC correction has been sucessfullly completed with an ending diagonal pattern. If want to make a short term trade, you can place your profit target at the top of the channel, otherwise next stop is below previous all time high. Look at my ideas about interesting altcoins in the related section down below ↓ For more ideas please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
17
NEO - New uptrend! Huge falling wedge is breaking out! + RSI DIV On the daily chart we can see a massive falling wedge - bullish reversal pattern! Also we have a second local blue falling wedge, so the probability of a successful trade is higher. If we take a look at the RSI indicator we can spot a bullish divergence with higher lows, definitely another positive sign. Regarding my analysis of Elliott waves, the major impulse (5-3-5-3-5) has been definitely completed successfully! We have a great confluence to open a long position here. Look at my ideas about interesting altcoins in the related section down below ↓ For more ideas please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
9
EURUSD-Weekly Market Analysis-Jul22,Wk4The Bullish Deep Crab Pattern on the Daily Chart might not form up, and even if it did, it might not be ideal. However, if you have long based on the counter-trend trade on the Bearish Parallel Channel, congratulation is in place.(check out last week's chart at the bottom of the tradingview link). Alternatively, you can wait for the Bearish Shark Pattern on the 4-hourly timeframe to complete, hitting the first target and waiting for a buying opportunity on a 5-0 pattern setup. In trading, being patient is important.
Long
by RaynLim
Ethereum ETH - Bearish trendline is now broken! + 125% PROFIT Ethereum is currently stronger than BTC on lower time frames, we can clearly see a base (rectangle) that is very close to a breakout! The main trendline has been destroyed by the bulls and now we are trying to get above the key local resistance at ~1280 USDT. We have 4 touches from the upside, which is impressive and next try can definitely break the base and result in a pump! As per my Elliott analysis - ABC correction / Impulse wave (5-3-5-3-5) has been completed succesfully, so we can expect at least a retracement to the upside. You can set your profit target to 2550 -2700 USDT (0.618 FIB + start of a the gap + breakout level). Look at my ideas about Bitcoin and another interesting altcoins in the related section down below ↓ For more ideas please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
27
Bitcoin BTC - Explosive breakout soon! + Elliott Wave + Channel IF you are an Elliott wave trader, you have to confirm that this is a valid EW count. As per my Elliott analysis, this impulse wave (5-3-5-3-5) has been completed successfully together with major ABC correction from 2021. On the daily chart we can spot 2 parallel channels and they are both close to a breakout, so with this confluence we can increase our probability! Next stop is major previous horizontal resistance + start of the gap + 0.618 FIB (around 36 500 USDT - 37 500 USDT). It is possible that we see this low price for the last time, because Bitcoin is very bullish asset and we are on a major support on the monthly scale (from 2017). Look at my idea about Bitcoin on the weekly timeframe in the related section down below ↓ For more ideas please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
26
Binance BNB - Strong buy signal! + Elliott wave + Triangle Elliott wave analysis on BNB was really hard, but this is my outlook on the 4h / daily chart. Don't forget that BNB on the weekly / monthly scale is extremely bullish, so we should follow the main trend. We have a broadening wedge / descending channel, which are usually both bullish patterns. Also the price is printing a local ascending triangle in the end of the trend - good to see! Impulse Elliott wave for this huge downtrend should be completed and it is possible that we will never see this low price again. BNB is indeed one of the most bullish altcoin in crypto. Look at my ideas about interesting altcoins in the related section down below ↓ For more ideas please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
27
Ripple XRP - Finally huge opportunity! + Elliott Wave + Channel XRP can finally make an uptrend, we have a local descending channel on the daily chart, which is very close to a breakout! As per my Elliott wave analysis, the ABC correction can be completed, so we there is a great chance for an uptrend. On the RSI indicator we can spot a bullish divergence with higher lows. We haven't retested the massive yellow triangle yet, so we can definitely do it in the immidiate short term. Your profit target can be end of the wave (1) + retest of the triangle + 200MA. Look at my ideas about interesting altcoins in the related section down below ↓ For more ideas please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
5
TrueFi TRU - Downtrend is over, can pump hard! + Elliott Wave Due to my technical analysis, i think this downtrend can be over and we can expect a pump anytime soon! On the daily chart we have a broadening wedge and also a local ascending triangle, both bullish patterns. If we take a look at the RSI indicator - we can spot a bullish divergence, always great to see. As per my Elliott wave analysis, the massive impulse wave to the downside should be completed and because of that, I expect an ABC retracement. Main Profit target is 0.618 FIB + end of the wave 4 (High liquidity area). We can also get stopped by the descending blue trend line, but i think it will break up! Look at my ideas about interesting altcoins in the related section down below ↓ For more ideas please hit "Like" & "Follow"!
Long
by UnknownUnicorn2537518
15