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Descending Channel

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
AAVE - Falling wedge is breaking out! + Complete Elliott Wave AAVE is ready for a new bull market! On the macro scale, we can see a falling wedge pattern that is currently breaking out. As per my Elliott wave technical analysis, the ABC correction has been completed and because of that we can expect a new Impulse wave. Good news is that the price has been supported by 0.786 FIB + yellow trendline. We didn't make a new low on the macro scale, so there is a great chance for a new bull market! If we take a look at the RSI indicator - we can spot a bullish divergence, always nice to see in the end of the downtrend. Next target is ofcourse previous all time high from 2021. I see a lot of altcoins probably bottomed out, so next weeks / months can be finally bullish. Look at my ideas about interesting altcoins in the related section down below ↓ For more ideas please hit "Like" & "Follow"!
Long
by UnknownUnicorn2537518
9
DAX 40 Descending Channel On The Daily Hi Traders, Having a look a the DAX today on the daily and 4 hours. I have highlighted the descending channel that we have been in since mid-June. Descending channels are a great pattern and can usually present a great setup with a high risk to reward as the targets for the channel entries are usually up where the channel began. We can classify this as a channel as we have a minimum of two taps on either side and if we adjust slightly to cover the wicks then we can say we have three taps on either side. I have shown these taps on the chart with small arrows indicating where the rice has touched the top and bottom of the channel. I have added a line that cuts through the channel In a horizontal fashion. This line indicated previous support flipped resistance and we can see that price has respected this line. It was supported and when it flipped to the resistance we had a nice short bounce off of it. We need to see a break above this resistance to confirm bullish action. Looking at the MACD below, we have divergence across the histogram. As the price continued to make lower lows, the histogram was trending upwards which indicated to us that the sellers have been weakening. This is usually a good sign when looking at descending channels in any time frame because once we see this partial divergence we can start waiting patiently for a break of the channel top. Let's move on to the volume. Notice how the volume has decreased dramatically since we began the descending channel. If we see a break above the channel top, we need to see accompanying strong bullish volume. THE SETUP Usually, the way I would wait for a setup is, that we need to see the price break above the channel top as this is descending resistance. Once we see this impulsive break, we need to see the price close above the channel top confirming that this channel is indeed broken. As I am a patient break and retest trader and as this is on the daily time frame, I would wait for the price to come back down and retest the channel top as support before triggering a long position and trading the DAX to the upside. Targets would be around the 13700 level. This is a psychological whole number that adds confluence to the target as well as it being the price where the descending channel began. This would be a long-term swing trade as this could take time to play out. Until we see that break, there is no point in even looking for a retest or long position in this time frame. Until then, let's keep watching and keep our eyes open. Hope you all have a wonderful Thursday. See you all on the next one. The Vortex Trader.
OANDA:DE30EURLong
by TheVortexTrader
BITCOIN long position 🚀Hello 🐋 Based on the chart, the price is close to important support area and the green trend lines that act as a support for the price ✔️ if the price does not break the green trend line to the downside, we will see more gain to the upside from our support area like the chart at least to the first resistance are on the chart 📖🚀 our important support areas are $19700 and $18700 Please, feel free to share your point of view, write it in the comments below, thanks 🐋
BITSTAMP:BTCUSDLong
by MadWhale
11
GBP/USD: bearish perspective; udpateSterling Pound/U.S. Dollar it's in the supply zone, but I decide to closed up manually this trade right now. But if we see another opportunity, only we would need to wait the reaction in that grey zone and also in the blue line of the supply zone to watch. So, I will wait a little more, as I believe that Sterlign Pound get manipulaton in that zone. For that, hope next opportunityt to short in the supply zone. Meanwhile, we're in the bearish channel and Sterling Pound it's moving to the downside what we can to short GBP/USD I hope that this analysis support you!!! I'm in short in GBP/CHF and EUR/AUD.
Short
by harisonhbn9718
1
FORTH - Ready for a breakout! Channel + Elliott wave On the daily chart, we can clearly see a descending channel / falling wedge, which is ready for a breakout! Buy a breakout above rectangle + 200 MA + trendline of the channel, we have a nice confluence here, that is very important! This coin never made an all time high, so it is safe to set the profit target to 0.618 FIB + end of the wave 4 (High liquidity area). Due to my Elliott wave analysis - Impulse Elliott wave has been completed successfully and we can expect at least a retracement. 200 daily moving average is considered as a massive level by huge instituions and hedge funds. We have a high bullish volume and I don't see any bearish pressure on the indicator. If we take a look at the RSI indicator, there is a horizontal level, so if we break this level, that would be great! Look at my ideas about interesting altcoins in the related section down below ↓ For more ideas please hit "Like" & "Follow"!
Long
by UnknownUnicorn2537518
12
Quantum QNT - Daily channel is ready to break! + Elliott wave On the daily timeframe, we can see a descending parallel channel - bullish pattern that is close to a breakout! ABC correction has been completed successfully (ZigZag) at 0.786 FIB retracement of the huge Wave 1 We can definitely start a new uptrend from here, so if you like this coin and fundamentals, there is an opportunity. You can wait for the channel to break up for a trade with confirmation. Quantum is the first project to solve the interoperability problem through the creation of the first blockchain operating system. Look at my ideas about interesting altcoins in the related section down below ↓ For more ideas please hit "Like" & "Follow"!
Long
by UnknownUnicorn2537518
5