Get started

Ascending Channel

WaveTalks - Nifty: Channel Trading Strategy WaveTalks - Nifty: Channel Trading Strategy There are three (3) types of channels: 1. Ascending Channel (higher highs and higher lows) 2. Descending Channel (lower highs and lower lows) 3. Horizontal Channel (ranging) ------------------------- Ascending channel ------------------------- An Ascending channel is a pattern formed from two upward trendlines drawn above and below a price representing resistance and support levels The ascending channel is also known as a “rising channel” and “channel up“. Ascending channel has a rectangle shape (Current Case – Nifty / 20th Oct2021) --------------------- Trading Strategy --------------------- As long as prices remain within the ascending channel, the upward trend in price can be expected to continue. 3 Supports shown as 17613 – 1st Support / 17864 – 2nd Support / 18209 - 3rd Support When executing trades based on a trendline, it is important that the trendline is a valid one / How do you know it is valid – 2 points required to draw a trendline & 3rd point which is 18209 if falls & takes support then it confirms that the trendline is a valid one. So, Any Buy or Long Trades should be executed with stops below the trendline so 18209 is an important level. Traders can keep 18200 level which is a psychological level. ------------------------- Descending channel ------------------------- A Descending channel is a pattern formed from two downward trendlines drawn above and below a price representing resistance and support levels. The descending channel pattern is also known as a “falling channel” or “channel down“. ------------------------- Horizontal Channel ------------------------- A horizontal channel is a chart pattern formed from two parallel trendlines drawn above and below price representing resistance and support levels -------------------------------------------------------------------------- The Last Idea - Bulls Yelling The Excitement - Gap Strategy -------------------------------------------------------------------------- Hope you enjoyed selling at the tops 18600 for 18200 approx. Nifty Index took support in the 2nd Gap. Are You Ready for the Next Move?
NSE:NIFTYEducation
by WaveTalks
14
UPSIDE POTENTIAL IN GUJALKALI ASCENDING CHANNEL BREAKAn ascending channel is a chart pattern formed from two upward trend lines drawn above and below a price representing resistance and support levels The ascending channel is also known as a “rising channel” and “channel up“. The lower line is identified first, as running along with the lows: it defines the trend line. The upper line (the “channel line”) is identified as parallel to the trendline, running along with the highs. It is a bullish chart pattern defined by a trend line supporting the series of higher lows and a diagonal resistance level connecting the higher highs. When in the channel, prices are expected to bounce off both upper and lower boundaries; the more such reversals occur, the more reliable the pattern. If it breaks the upper trendline then we can buy the stock else we sell or short the stock. this is just educational practice for myself, not investment advice please consult your financial advisor before trading or investing, I am not SEBI registered and not liable responsible for your profit and losses
NSE:GUJALKALILong
by atifsharif7865
4
Weekly BTC-USD(6th September)After a week of consolidation, BTC, this week, breaks out from its sideways trend and currently trading above its psychological resistance of $50K. On the weekly TF, BTC formed a strong bullish candle which slightly resembles a Hammer Candlestick patter and gained by more than 6%. At the time of writing, BTC is trading at $52K. BTC has been trading in the Rising Channel formation for the past 7 weeks and has been respecting its lower band supports as every dip has resulted in a strong bounce back, it depicts that there is solid buying pressure is present at lower levels. Daily RSI is showing slight divergence with the price and has been facing a trendline resistance, which suggests a mild correction can take place in the coming weeks and with that it will retest its support zone of $50 to $51K. On the higher side, the immediate hurdle is present at $53K followed by the major resistance at $55K. On the lower side, the support levels have been shifting higher with the rising trendline. The nearest support is present at $50K followed by $48K. As compared to other top 10 crypto assets, BTC has been lagging in this rally till now but with this fresh breakout, one can expect that BTC may lead the pack this time. Also, the combined crypto market cap is now more than $2.35 Tr but still, the BTC’s market cap dominance is trading around its lower levels which suggests that we can expect a bounce-back in BTC M cap dominance.
COINBASE:BTCUSDLong
by TradeDog-Research
BALMER LAWRIE- Swing tradeBalmer & Lawrie is in critical trendline support region. It can move upto 160 in upcoming weeks. Its good for Short term Investment or positional traders. Additionally, the Corporate has announced Rs 6 per share dividend can lift the stock price till the Ex dividend date (17 Sep). Its good to hold the stock until it breaks the Trendline on downside. Kindly share your valuable feedback. Disclaimer: Please do your own research or consult your advisor before taking any trade. This view is for educational purposes only
NSE:BALMLAWRIELong
by natarajanshankar
1
TCS - Ascending Channel Bullish Breakout TCS has broken out of the ascending channel, supported by high volumes. It can be bought between the price range of 3400 - 3450, for a target of 3650, which it should hopefully achieve before the next earnings are published. Stop loss can be maintained at 3349. Refer the Fibonacci Retracement given in the chart to identify the support levels, if you do not wish to keep the stop loss. Please follow us for more trading setups like these. If you have any queries/suggestions related to above pattern, feel free to type below in the comment section. Do show your love by pressing the like if you liked the idea.
NSE:TCSLong
by Yes2Profits
FMCG GIANT GAVE CHANNEL BREAKOUT !HidustanUnilever - The FMCG giant has given a good breakout from its major channel pattern . Stock was in tight upward channel range since approx past 2 years ( Sep 2019 ) and now it has finally given a good breakout from the channel. Another critical point was that there was a Sub pattern also , which was Double Bottom which is also a bullish pattern. We all have heard about some of the famous brands like Dove, Lux, Lifebuoy, Pears, Hamam, Lyril, Rexona, Surf Excel, Wheel, Comfort, Clinic Plus, Sunsilk, Fair & Lovely, Pond's, Lakmè, Vaseline, Bru, Taj Mahal, Lipton, Brooke Bond, Cornetto, Kisan, Annapurna, Magnum, Close up, Pepsodent, and many more. You will be surprised to know that Its parent company is this giant- Hindustan Unilever. So its clearly a great fundamental company and its also bullish on technical terms. This was my honest and fair analysis only use it as education , trade as per your analysis or seek financial help from your advisor. Feel free to share your own views.
NSE:HINDUNILVRLong
by headymuk
1