GMT UP Channel Pattern formationPossible formation of UP Channel Pattern.
If we break through channel line, then this idea will not be valid.
If we break upper line, we can get another pump, otherwise it can go down to previous support level.
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Please note that this is not a financial advice. Just my personal idea. Do your own research.
Parallelchannels
Parallel channel tool (Requested) Somebody asked how i draw it..
Parallel channel, One of most use tools in analysis
to identify trend and dynamic support and resistance
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Here's how i draw parallel channel with setting
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At the beginning i was like u guys didnt know TV has this tool
but one of my good friend introduced me this.
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Trade safe n fun
SLP flag and ab=cd pattern#SLP/USDT
$SLP is inside a parallel channel that can act as flag pattern.
🐮 price can drop to support zone around $0.017 that is the same with lower line of channel and then head up to break out upper line.
breaking out of flag can increase price to resistance zones and if price going to complete AB=CD pattern it will reach $0.05.
weekly time frame shows price can increase to $0.07 and $0.12 or even more