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Risingchannelbreakout

GBPJPY - Rising Channel Into Structure Resistance The GBPJPY has been bouncing back & forth between structure with the most recent move being one back into a level of previous structure resistance. At this level we also have a rising channel along with our RSI going overbought 7 showing bearish divergence. Targets are taken using a combination of price action analysis, & Fibonacci tools. If you have any questions, comments or want to share your views & analysis on this pair. please do so below Also. remember to hit that like button & show so love before you leave. Best of luck this trading week. - Akil
Short
by Akil_Stokes
2
Swing Trading BitcoinBitcoin has formed an ascending triangle within a rising channel on the hourly charts. The rising channel on its own gives me reason to expect a breakdown to the 61.8% or 50% retracement levels but the presence of the established ascending triangle has made this consolidation interesting. The development of this bullish signal leads me to believe that their is a sliver of hope for another breakout but this will depend entirely on a large influx of trading volume when the alleged breakout occurs. A false breakout has already taken place on 1 November which makes identifying the ascending triangle that much more difficult to properly recognize. If a low-volume breakout occurs then I believe Bitcoin's value will meet significant resistance at the 100% retracement level -- forming a double top "M" -- and potentially see a shift back to prior retracement levels as suggested in the first paragraph. However, if a high-volume breakout occurs and Bitcoin's value is able to break through the $36,000 USD ceiling, and out of the rising channel altogether, then we could see massive gains as high as the $40,000 level before any significant resistance is met. As always, traders should be weary of any micro or macroeconomic factors that may come into play as this can both fuel and steal momentum. I am very interested in seeing how this plays out but I am not so optimistic that I would trade without an established stop-loss in place nor insert myself in the trade prematurely. BITSTAMP:BTCUSD
BITSTAMP:BTCUSD
by Shepherd_Investor
FSLR - Rising channelOn the chart, we can see a rising channel occurring for FSLR. It has been ranging between the levels for almost 3 quarters. We expect that the price will stay in the channel for a while. You can buy at the lower boundary of the channel and exit at the resistance, which is the higher boundary of the channel. Invalidation of this thesis would be if the price closes out of the channel. Moreover, you can short at the resistance with a target at the lower boundary of the channel. Good luck!
NASDAQ:FSLR
by vf_investment
2
POWER INDIA ENTRY SETUP 1:3🎯🔥NSE:POWERINDIA Broke out of an ascending channel pattern. Price gave excellent momentum during breakout but it witnessed heavy selling pressure during market hours. As a result, price left huge wick behind. Script should consolidate for some days before the next momentum candle because of the huge rejection at higher levels. Track closely. Consider entering 20-30% position at C.M.P if price opens gap up. To play even safer, enter with full position after retrace and confirmation. Targets: 3500/4000/4200+ sl below the channel (below 2580) Position size according to entry price. HAPPY TRADING!
NSE:POWERINDIALong
by PriceActionSpotter
INDIA CEMENTS 2:7 RRR TRADE 🎯350NSE:INDIACEM Broke out of a major expanding channel pattern. Breakout candle is very bullish and volumes are heavy on the buy side. Price is in a low volume consolidation mode in the form a rising channel pattern on hourly timeframe. Momentum is expected to continue after the break of this pattern. One can enter at C.M.P with entire position for 2:7 Risk reward play. Targets: 300/350+ sl: below 210 Position size accordingly. HAPPY TRADING!
NSE:INDIACEMLong
by PriceActionSpotter
POTENTIAL MULTIBAGGER OF THE DECADE 1000% 🎯🔥📈Analysis is part technical and part fundamental. NSE:PFC has been consolidating in a sideways uptrend for almost 13 years. Price has recently taken a rejection from this channel pattern in the month of October. Going with the price action view, price should retrace all the way back to channel support, around 80-90 levels. An established support at these levels could present a golden buying opportunity for building wealth over long term. Alternatively, price breaking out this year could be the breakout of the decade. Stock's P/E ratio is currently at 2.9 whereas the sector P/E is at 22. A breakout from this channel has potential for price to go up by 800-1000% Company has also seen consistent growth in revenue and profits in last 5-6 years. Do keep this stock in your watchlist. Investment horizon is over 5 years. THIS COULD BE THE NEXT TATA POWER! Do comment your opinions on this! Thank you!
NSE:PFCLong
by PriceActionSpotter
2