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Horizontalchannel

XRPUSD working on a horizontal channel breakout. Not a sure thing that the breakout will confirm here, always a chance it could correct back inside the channel once or possibly even twice before triggering the real breakout, though of course the current move could easiy be the breakout. Either way sooner rather than alter the breakout should be official and once that happens the target will be around 63-64 cents. For now the current bullish impulse looks very convincing. If it can maintain solid support on the top trendline of the channel then we will almost certainly see the recent deathcross be uncrossed and confirmed a fakeout. *not financial advice*
BITSTAMP:XRPUSD
by DrDovetail
Rectangle on AUD/USD @ D1This rectangle pattern (horizontal channel) on the daily chart of AUD/USD offers a potential bearish breakout opportunity following the general downtrend. The borders of the rectangle are marked with the yellow lines. My potential entry level is where the cyan line is. My potential take-profit level is at the green line. They are based on the rectangle width - 10% for the Entry line and 100% for the TP line. The stop-loss can be set to the high of the respective breakout candle (not shown on the chart) or to the high of the previous candle if the breakout one is mostly outside the rectangle.
Short
by AndriyMoraru
3
Rectangle on AUD/CAD @ D1This rectangle pattern on the daily chart of AUD/CAD offers two potential breakout trading opportunities (bullish and bearish). The borders of the rectangle are marked with the yellow lines. My potential entry levels are where the cyan lines are. My potential take-profit levels are at the green lines. They are based on the rectangle width - 10% for the Entry lines and 100% for the TP lines. The stop-loss can be set to the low/high of the respective breakout candle (not shown on the chart).
by AndriyMoraru
2
Algo with perfect retest of green channel tl as supportPerfect support retest of the bottom trendline of the green horizontals channel. In reaching there price also broke above the purple falling wedge…we can also see now that price is testing the turquoise neckline of an inverse head and shoulders as well. I have put the inverse head and shoulder target and the falling wedge targets on the chart for now. Will add the channel breakout target if/when we get closer to its top trendline. *not financial advice*
COINBASE:ALGOUSDLong
by DrDovetail
3
Recent Judge statements in Library case create bullish sentimentThe Judge with the assistance of John Deaton via amicus, got the SEC to agree that sales of library credits from the secondary market do not constitute a security and since that news came out lbry has had a big pump here. You can’t see it here on the weekly chart, but on the daily time frame we have also just seen one of the biggest daily volume candles we’ve seen in a long long time on lbry suggesting that there are good odds it will find a way to confirm this double bottom pattern and also likely validated the breakout from this pattern as well y breaking above the channel shown here on the weekly chart. Of course the fed could manipulate things with more rate increases or a black swan could occur that nullifies the newfound bullish momentum but barring those 2 things I would say probability should favor an eventual breakout of this pattern. *not financial advice*
L
by DrDovetail
Descending Triangle for WEED?wow, hard to believe canopy is getting near my entry point in 2016-2017. This stock has been a rollercoaster since rec legalization in Canada. A Potential trading range is highlighted in green. Any price movement that is sustained below or above the green lines is noteworthy. If WEED doesn't hold the green line of support a gap down to CAD $2.80 is highly probable. If WEED breaks to the upside out of the downward sloping resistance of the broadening wedge go long, set your stop loss above the resistance line, and trade accordingly. If the top of the broadening wedge doesn't hold as support a decline back down to the baseline support is likely and it was a fake-out.
TSX:WEED
by ScotianBot
UNI Possibly reaching ATHUNI has been trading in a horizontal channel since the may drop. As it set in a significant higher low last week at around 21$, some indicators are turning bullish (On the daily chart: VIX printed a clear bottom, MACD turned bullish , RSI is making higher lows), possible signalling that UNI is ready to break out of the channel. When it breaks out, possibly uses the channel as support, it will easily surpass it's previous ATH. In case BTC or ETH would drop, UNI will probably lose it's momentum to and we will continue trading in this channel. In both cases, good opportunity
Long
by UnknownUnicorn10205551
3
AAVE-USDT(Horizontal Channel Breakout)An open-source decentralized lending and borrowing DeFi protocol built on top of Ethereum and enable the users to borrow and lend a wide range of crypto assets without the involvement of any third party institution like a bank. The total valued locked (TVL) in lending protocols currently stands at ~$39.6 Bn, which Aave alone has locked in ~$11.96 Bn in its protocol On the daily time frame, Aave has been consolidating in a range since Feb 2021. It has given a breakout from the range and it seems to move to its new highs. The support to the lower side is placed at $530 which is the upper limit of the range while it may give targets of $750 in the near future.
Long
by TradeDog-Research
Detail Look into Parallel Channel In Price Action Analysis Hello everyone: Let's take another detailed look into some parallel channels structures/patterns in price action analysis. Recall my previous educational video on Ascending/descending channel correction, they are higher probability reversal price action structures/patterns. Today I want to go over the horizontal parallel channel structures/patterns as well where they are more neutral, more advanced to analyze and forecast the potential direction of the impulse phase following after. Let's take a look into some of these horizontal parallel channel corrections, and break them down more. In my opinion, the longer, deeper these types of parallel channels go, the stronger the next impulsive phase will be. Although they can be tricky depending on whether they are continuation or reversal correction. I will go over for examples in different markets to pinpoint some of these price action structures/patterns. Below are some of the important topics that I mentioned in the video. Reversal Ascending/Descending Channel Risk Management: 3 different entries on how to enter the impulsive phrase of price action Multi-time frame analysis Identify a correction in price action analysis Continuation and Reversal Correction Any questions, comments, or feedback welcome to let me know thx :) Jojo
OANDA:XAUUSDEducation
by jojofang0901
39
ADA-USDT(Horizontal Channel Breakout)While Cardano remained silent in terms of price action as it was Consolidation in a range ($1.01- $1.48) , its peer crypto assets took advantage of this opportunity and dragged ADA to 7th place in terms of Market Capitalisation snatching away its title of 3rd most valued crypto asset at the beginning of 2021. In the 4 Hourly Time Frame, ADA broke away all the shackles of bears, which can be validated by the massive surge in volumes to the levels of 363.7 Mn. It has marked the initiation of Bull dominance and is likely to reach untouched levels. Key Levels to Watch Out For: The support to the lower side is present at $1.4 while ADA is well-positioned to give the target of $1.9 .
Long
by TradeDog-Research
2
SOL-USDT(Horizontal Channel Breakout)Solana is a high-performance public blockchain optimized for scalability and has the capability to handle 50K transactions per second. Having processed 15.8 Bn transactions to date while charging negligible fees (~$0.000005), Solana has been zooming to new highs due to the rapid adoption of its network. On 1 Hour Time Frame, SOLUSDT has been trading in a Horizontal Channel pattern and has given a breakout. Key Points to Watch Out For- The support to the lower side is present at $35 followed by $33 while the resistance to the higher side is present at $46 .
Long
by TradeDog-Research