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Parallelchanel

Possible Channel Break Re-testsA quick look at how Bitcoin could drop as low as 25-26k or even 22-23 and remain bullish. Bitcoin first broke above an inverted HS, which ultimately led to a parallel channel breakout on the weekly chart. We haven't yet re-tested the top of that channel. A re-test doesn't always occur, but if it does a re-test at 25-26k is easily still bullish and remains above both pattern breaks. There's also the possibility of a pullback below the inverted HS that still remains above the channel if a re-test occurs but gets dragged out for weeks. A prolonged re-test could pullback below the inverted HS, yet remain above the parallel channel, going as low as 22-23k or even lower (below 20k) if it is prolonged further.
INDEX:BTCUSDLong
by dudebruhwhoa
DWARIKESH SUGAR - SWING TRADING FOR 10-15 DAYS" PARALLEL CHANNEL BREAK OUT " High Volume Based Entry level - 98-100 SL - 90 (with previous candle below level) Targets - 107,113,118+ Market Capitalization of Dwarikesh Sugar stock is Rs 1,923.50 Cr. #DWARIKESHSUGAR Disclaimer - All information on this page is for educational purposes only, we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made. Request your support and engagement by liking and commenting & follow to provide encouragement HAPPY TRADING 👍
NSE:DWARKESH
by Jagadheesh_JP
29
A Bearish View of ETH Indicates a Deep CorrectionIf we look at INDEX:ETHUSD from a bearish perspective, it shows potential for significantly more losses. There is a rising wedge that has 1x and 1.5x targets around -720 and ~520 on the logarithmic chart. The linear chart's rising wedge targets ~350 or near to the log chart's wedge target's 2x measured move down, which lies just above around ~375. The lowest targets sub 400 also line up with the lower trend, or the dashed orange line at the bottom, which could be seen as a channel that hasn't yet re-visited channel bottom since making highs. Should we see a bearish exit of the rising wedge, I expect we'll visit that sub-400 area, possibly even wick below 300. All that said, there's also a case to be made for a bullish expanded flat here, but that's not what this post is about. I would expect this bearish scenario to be more likely to occur should TVC:DXY continue up beyond 105-106 -> 112, without an extended move back down to support areas around 98-101 or lower.
COINBASE:ETHUSDShort
by dudebruhwhoa
4
BITCOIN more range 📖💡Hello 🐋 based on the chart, the price is in the parallel channel and range cycle ✔️📚 and it needs some rest and more range trend and candles 📚💡 beside for future analysis and ideas toward exact short and long, I need more confirmation hard and firm evidence and candles 📖💡📚 👌 Notice: pay attention to the price on shortcut chart (located above the main chart with black colour) 📖💡 Please, feel free to share your point of view, write it in the comments below, thanks 🐋
by MadWhale
7
50EMA (Mumma Support again pulls back the child like a magnet.) 50 EMA (Mumma Support again pulls back the child like a magnet.) Nifty which tried to break the shackles of 50 EMA is again under the same and now the full zone between 19566 to 19684 is full of resistances. Nifty will be bullish only after it closes above 19684. Till then there will be stock specific action based on results. Supports on the lower side are at 19528 and 19471. Other major support of 19471 is broken will be 19423. Below 19423 Nifty becomes very weak and Bears will be calling the shots totally.
NSE:NIFTYLong
by Happy_Candles_Investment
Resistance of ATH Zone works again today and stops Nifty.Resistance of ATH Zone works again today and stops Nifty. As expected the resistance zone between 19437 and 19523 again got activated. Nifty made a high of 19515.1 and returned closing the day at 19439.4. End was just above 19437 which should act as a support no.1 for tomorrow. Further supports will be at 19419, 19399, 19337, 19296 and 19232. Again 19500 to 19523 will act as resistance zone. Crossing and closing above 19525 will open the doors for 19600 or even 19700. All eyes on the Speech of FOMC member Bullard tonight.
NSE:NIFTYLong
by Happy_Candles_Investment
Our Chart continues to work perfectlyAs you can see and we had depicted yesterday Nifty had taken a firm support at 18646 and the only now was upwards. Despite negative to Neutral US markets Nifty opened gap up above what was 50 Hours EMA, confirmed support of the EMA at 18742 for few hours and then marched ahead. The march of Nifty was halted by the Mid-Channel Line resistance at 18829 and that is where Nifty cooled down a bit to close the day at 18817.4. How is that for Precision? I hope you all are appreciating the efforts that we are putting in the analysis. What Nifty holds for tomorrow? If Mid channel line (18829) is conquered tomorrow and Nifty hold above it, we will be sooner than later looking towards re-approaching the All Time high of Nifty and probably this time around Nifty might even break it and make a new high. Resistances: 18829, 18840 and 18887.6. Post making a new high 18956 and 19018 can be very very tough resistances. Supports: If the Nifty is not able to conquer 18829 to 18840 range and sustain above it the supports will be at 18795, 18742, 18646, 18576 and 18421.
NSE:NIFTYLong
by Happy_Candles_Investment
Block Inc Long IdeaNYSE:SQ followed 102 Day Bearish trend, which was reversed 35 days ago with bullish divergences and increasing bullish volume. Since then, the trend is following a parallel channel. A trendline break out of this bullish run was confirmed 19 days ago. Trade Plan with 2 Entry Points Risky Entry Entry @ 66.60 TP @ 71.78 SL @ 63.27 Risk = 0.5% RRR = 1.56 Optimal Entry Entry @ 65.18 TP @ 71.78 SL @ 63.27 Risk = 0.5% RRR = 3.59 Since the stock is favored fundamentally, taking partials at the TP level is advisable, and letting the trade run with training SL using ATR with the multiple of 1.5.
NYSE:SQLong
by C_T_E_Ltd
UVXY Potential Early Bear Flag Channel Entry at Moving AveragesThe UVXY is currently trading at the 89 Day EMA among other Moving Averages that it's often reversed from; if it reverses from here again and hits the bottom of the Potential Parallel Channel that will confirm the Validity of the Parallel Channel. If it breaks down from this Parallel Channel that will be a Bearflag breakdown that could take it down anywhere betwen the 1.618 to even the 2.618 which should signal a rally in the SPX. For the time being this is a speculative early entry.
AMEX:UVXYShort
by RizeSenpai
Importance of mid channel line in parallel channel tool. Last 3 weeks or so we saw the Importance of mid channel line in parallel channel tool. Thrice Mid channel line supported the Nifty and Nifty bounced from there. When a support is taken multiple times mostly it becomes weak. This led to fall of Nifty below Mid channel line. Once the price is below the line which was a support. The line becomes a resistance. Mid channel line is now a resistance and the same line is stopping Nifty from going ahead since couple of sessions. It was an important lesson hence explaining at depth. Nifty Resistance remain at: 18624, 18678, 18722 and 18778. Nifty Supports present at: 18555, 18512, 18465, 18402 and finally 18371.
NSE:NIFTYLong
by Happy_Candles_Investment
Bank Nifty Trade Setup (29-May-2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal. As posted in previous day setup that from price as Banknifty is in parallel channel with 44151 to 44071 as resistance zone and 43470 to 43370 as support zone and on 26-May-2023 price was near support zone after a sell off in previous sessions and it took support near that support zone and moved all the way up to resistance zone moving almost 400 points in a day. so far it was a good session and worked as per trade setup. ( Cannot post previous day chart to keep record of this price action have to look for previous day trade setup.) For tomorrow this will be my trade setup: 1.) If opens flat which is near resistance zone. if price doesn't hold near this resistance on 15 min TF then will look for selling after break of nearby support of 43880. If price took support on break of this resistance zone i will look for buying. (Views are bullish so will only trade against the primary trend with strict stop loss and target levels. 2.) If opens gap up above resistance zone and if takes supports above the resistance zone on 15 min TF with good candle pattern and volume. then will look for buying only for target will be open with stop loss of 44151 (ATH). 3.) If opens gap down at nearby support 43880 will look for price to take support or if it became resistance and target will be as per this parallel channel support zone which is 43750, 43650 and 43500. Things to keep in mind: As mentioned above views are bullish so will trade cautiously against the primary trend with strict stop loss and target level on downside. Hit like to keep me motivated for keeping my trading journal as it only take less then few seconds to hit like but it gives me motivation for preparing for my session. also one can comment how i can make it better or need any improvements in my trading setups and improving this journal. as this is my only trading journal not keeping any excel or any online sheets as i never used before.
NSE:BANKNIFTYLong
by TradeInsights
NIFTY strong REVERSAL candle on WEEKLY TF#NIFTY Strong reversal candle this week & long leg Doji on Monthly Chart after 3 Consecutive months sell-off! If one had read the chart without any bias, the trend on weekly charts was up & not down. Only a break below 16740-50 levels would mean a change in trend to downtrend. The Price perfectly fulfills my last idea and moved towards the upside and also closes above the 17222+ On weekly chart. From the support zone of 16850 price moved towards the upside till the 17380+ with a bullish candle and price closes on positive note on weekly chart in the Friday session. After 3 consecutive red candle on weekly chart we closes in big green candle in the last week. Now the price can head towards the 17555--17600 level to touch the upper downward parallel channel and if price go sideways for 1 or 2 days near the upper hand of parallel channel and than breaks the upper parallel channel and level of 17600 and sustain above it than we can see tremendous move towards upside and targets will 18000/18222+ In coming trading sessions. If price unable to breaks the upper parallel channel and again respects it and face Resistance than we can again move towards the downside till the support level.
NSE:NIFTYLong
by Jha_Nidhi