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BTCUSDT : Descending Channel BYBIT:BTCUSDT BTCUSDT : Descending Channel Pattern : Descending Channel. What is Channel Trading? When trading a channel, you use parallel lines connecting the swing highs and swing lows of a market’s support and resistance. The most common method to mark a channel is by using trend lines. The swing highs that are marked by the trend line known as the channel’s resistance levels . The swing lows that are connected to create the channel become the support level. We can use a channel to find support and resistance as the price continues to move higher or lower. How to Trade Descending Channel ? Sell at Resistance , Buy at Support with Price Action Confirmation. We can use Channel to find potential breakout trade with stop loss as soon as descending channel breaks Resistance. RSI indicator can be used to find possible bullish divergence for reversal Trade.
by FalgunPrajapatiTrading
HCL Tech breaking descending triangle pattern HCL tech making descending triangle pattern in 15M chart. Breaking this pattern can give a good breakout either side, probability of breakout is upside and i can easily break its previous high of 1072. Reasons of breakout : 1. It had broke its 1045 level on 5 august which was a resistance and being tested on 15 jan, 8 apri & 25 july. 2. Making a descending triangle pattern in 15M chart. 3. 1045 resistance converted into great support after reversal. 4. 200 days EMA being a good support near 1045 support level.
NSE:HCLTECH
by akshaybatra020
USDSGD Plays for a Upside Break from Descending Broadening WedgeUSDSGD has been forming lower highs and lower lows within the Descending Broadening Wedge Pattern, since 9th December. After testing the upper trend line for the fourth consecutive time, prices registered a breakout and have sustained above the pattern. Moreover, the formation of Three White soldiers candlestick pattern, confirms the potential uptrend in the pair. In addition, the red signal line of the Custom Moving Averages indicator is trading below the prices, thus indicating of bullishness in the pair. The prices are now attempting to move towards its target profit and thus traders can grab the buy opportunity and keep the profit target at 1.34769 level. Simultaneously, the stop loss can be set at 1.33143 level. Trade information Take profit 1.34769 Stop-loss 1.33143
by forexjames07
PnB : Postitional ShortPNB is forming a Descending Triangle, look for opportunities as specified on chart. Entry : 91.5 - 92 Range (Take Stance after getting a strong closing below given range) Stoploss : 2.5% (Closing Basis) Basic Target: 89 Optional ways : Derivatives are best case as expiry is just 7days away. if you have any queries regarding above idea or any other stock feel free to D'M Announcement : Recently we launched, TruStox Community a community driven platform for Traders with almost all features that a trader needs . Make sure! you signup before 19th April-19, we've a gift for you & sign up is totally Free! Here are some of them:- Trade assisting Tech Regular Study Conferences Collective Fundamental Research Access to Tools from Trader's Toolkit & many more. For More information : Click Here! Note : Trading in any financial market is very risky. We post ideas for educational purpose only. It is not financial advice. Do not hold us responsible for any potential loss you may incur. Please consult your financial adviser before trading.
NSE:PNB
by TruStox
Potential Consolidation BreakoutUnitech Ltd. is in a consolidation for a long time now. A triangle pattern called 'Descending Triangle Pattern' is forming on the 4 Hour time frame. Although, the text book definition of a 'Descending Triangle Pattern' is that the price usually break to the downside, however, that's not always the case. Also, the RSI shows divergence + there is also an ongoing 'Flag Setup'. I will link my 'Flag Setup' idea below. We'll wait for the breakout from the pattern and decide what our Target and Stop Loss should be. Do tell me what you think. Sincerely, Dpk.Htkr
NSE:UNITECH
by Dpk.Htkr
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