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Parallel Channel

A channel can be used as an entry pattern for the continuation of an established trend, as part of a trend following strategy. A channel forms when price action is controlled by 2 parallel, sloping lines and has tested each of these lines at least twice. An ascending channel indicates a bullish trend, with the support line connecting consecutive higher lows and the resistance line connecting consecutive higher highs.

A descending channel indicates a bearish trend, with the support line connecting consecutive lower lows and the resistance line connecting consecutive lower highs. Generally speaking, the support line of an ascending channel is a buy zone and the resistance line of a descending channel is a sell zone, while the opposing lines are profit-taking zones. A common stop level lies on the other side of the buy or sell zone. Conservative traders may look for additional confirmation before entering a trade. TradingView has a smart drawing tool that allows users to visually identify channels on a chart.
nimbuz90 nimbuz90 SUNTV, 240, Short ,
SUNTV: Sun going down - for now??
27 0 2
SUNTV, 240 Short
Sun going down - for now??

The stock has been trading in a broad bear channel for the past couple of months. A symmetrical triangle breakout is observed on the downside which is also happening at the upper channel resistance line. Hence expecting the prices to fall till 820. CMP is around 870. Shorts can be initiated on rise @ 875-880 levels. If it fails to move up, then we could short ...

ParamjitMahapatro ParamjitMahapatro BAJAJ_AUTO, 1M, Long ,
BAJAJ_AUTO: bajaj auto looks bullish in medium term to long term
17 0 1
BAJAJ_AUTO, 1M Long
bajaj auto looks bullish in medium term to long term

In monthly, price bounced from the ascending channel support. with sl - 2719, tgt1 - 3390, tgt2 - 3550

Einstein15 Einstein15 OBEROIRLTY, D,
OBEROIRLTY: OBEROI REALTY Channel Breakout
127 4 5
OBEROIRLTY, D
OBEROI REALTY Channel Breakout

OBEROI has been moving in a channel . After a huge leg up yesterday, its testing the upper edge. Awaiting a breakout or reversal. Its still respecting the LIFETIME CHANNEL--> Hit the play button in the post below https://in.tradingview.com/chart/OBEROIRLTY/L2tj4w4O-OBEROI-REALTY-Lifetime-Breakout/

praveen.bhatiya praveen.bhatiya MRPL, 1D, Long ,
MRPL: Three Drive/Channel Candlestick. Good RR Ratio
113 2 7
MRPL, 1D Long
Three Drive/Channel Candlestick. Good RR Ratio

The stock is moving nicely between parallel channel having multiple alternative touches on both sides. Yesterday's Doji Bar got confirmed today. One can buy the stock now or on dips for a target of 115. It would provide decent Risk to Reward ratio. Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.

praveen.bhatiya praveen.bhatiya BATAINDIA, 1D, Short ,
BATAINDIA: Action/Reaction Bollinger Band Setup
190 61 9
BATAINDIA, 1D Short
Action/Reaction Bollinger Band Setup

AR set is suggesting that price has reached the level where one can expect a reaction. We have seen bearish engulfing exactly at the level thus one can short the stock with SL of recent high. Price expectation 740/700. Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.

Einstein15 Einstein15 KOTAKBANK, 1D,
KOTAKBANK: KOTAK BANK Lifetime Channel
149 0 10
KOTAKBANK, 1D
KOTAK BANK Lifetime Channel

Kotak Bank has been moving in a channel, making lifetime highs every few months. Currently testing the upper edge. Awaiting a breakout or reversal.

Balaji_82 Balaji_82 WOCKPHARMA, 1D, Long ,
WOCKPHARMA: declining channel BULLISH breakout
65 0 3
WOCKPHARMA, 1D Long
declining channel BULLISH breakout

we can expect a 7% up move from here, it may have the resistance around 850 levels (near its long-term support line

rrajkumar86 rrajkumar86 BIOCON, 60, Short ,
BIOCON: Biocon Sell For 615/610
62 0 1
BIOCON, 60 Short
Biocon Sell For 615/610

Possible Channel Breakdown Sell Below 621 With 627 Stop

ParamjitMahapatro ParamjitMahapatro DISHTV, 1M, Long ,
DISHTV: dish tv looks bullish in medium to long term
114 0 5
DISHTV, 1M Long
dish tv looks bullish in medium to long term

in monthly, hammer formed at ascending channel support line. https://in.tradingview.com/x/BOC8EaeF/ https://in.tradingview.com/x/bLgtILDa/ Both in weekly and daily, regular bullish divergence seen here. with sl - 63, 1st tgt - 120, 2nd tgt - 135.

vanathi vanathi BANKNIFTY, 60,
BANKNIFTY: Bank Nifty - Weekly Review March 26 to March 30
396 0 11
BANKNIFTY, 60
Bank Nifty - Weekly Review March 26 to March 30

Price action is having resistance at the levels 23900 - 23950. If it sustains this level it will move towards 24050. 24050 - 24100 will act as the strong resistance level. Price action is bearish below 23720 for the targets 23560, 23320, 23180 and 23000.

vanathi vanathi NIFTY, 60,
NIFTY: Mighty Nifty - Weekly Review  April 16 - April 20
318 1 7
NIFTY, 60
Mighty Nifty - Weekly Review April 16 - April 20

Price action is trending in an ascending channel. The resistance at the levels 10500 - 10520 should be taken to move towards 10560, 10620 and 10660. On the other hand unable to sustain the resistance will make the price to move towards 10420, 10360 and 10280.

Vijayaraghavan Vijayaraghavan ADANIPOWER, 1D, Long ,
ADANIPOWER: Adani Power short term view
103 0 3
ADANIPOWER, 1D Long
Adani Power short term view

Adani power may move upto target(shown in graph). Wedge pattern breakout done already. Descending channel breakout may happen upcoming days. Both pattern shows same target only. Vijayaraghavan, Kovilpatti

ParamjitMahapatro ParamjitMahapatro VLSFINANCE, 1W, Long ,
VLSFINANCE: vls finance looks bullish in medium term
33 0 0
VLSFINANCE, 1W Long
vls finance looks bullish in medium term

In weekly, price moving in ascending channel and bounced from ascending channel support, sl - 62.5, tgt1 - 100, tgt2 - 118

HarlemTrader HarlemTrader INGA, 1D, Short ,
INGA: ING / INGA - 2 scenarios
13 0 1
INGA, 1D Short
ING / INGA - 2 scenarios

Where can price move from here? - 2 scenario's and targets

praveen.bhatiya praveen.bhatiya DISHTV, 1D, Long ,
DISHTV: WRB & Parallel Channel
139 0 12
DISHTV, 1D Long
WRB & Parallel Channel

Wide Range Bar on14.03.18 has created the support zone and even in a strong down day like yesterday it has provided the support. It seems that there is good accumulation at 65.50 and buyers have emerged which can move the price up in coming session. RSI above 50 is also supporting the decision. It is on the verge of breaking the channel so one can buy the stock ...

Pedro_amad0 Pedro_amad0 USDSEK, 60, Long ,
USDSEK: BUY USDSEK: breakout of a downtrend channel inside a upward chan
35 0 0
USDSEK, 60 Long
BUY USDSEK: breakout of a downtrend channel inside a upward chan

We are buying a bullish trend reversal at the bottom of an ascending channel. The stop loss was placed at the las botton and the target is at the channel top. The stop should be moved to bottoms left after the buy.

msp2030 msp2030 LT, 1D, Short ,
LT: L&T, Down trend Channel
27 0 0
LT, 1D Short
L&T, Down trend Channel

Price is on the upside of the down trend channel.. And today candle has formed a dark cloud cover on the channel upper resistance line. Volume is also above average.

praveen.bhatiya praveen.bhatiya CHENNPETRO, 1D, Long ,
CHENNPETRO: * Divergence at Potential Reversal Zone *
95 0 8
CHENNPETRO, 1D Long
* Divergence at Potential Reversal Zone *

Moving in a parallel Channel, the prices are showing divergence. Incidentally prices are also in a Reversal Zone based on M_PL. It seems that stock is getting ready for an up move. Buy on closing above 348 with Stop loss of recent low or as per your risk taking capacity. Disclaimer : All stock recommendations and comments are my personnel view. please take ...

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