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.
The stock has formed a 3 Drive on Top reversal pattern at the 78.6 fib level of last swing. RSI is not supporting the 3rd top and showing divergence. It has came back to Bollinger Band so it seems to be a good short trading is possible here. One can shot below the 10890 with small SL of recent made high and expect the target of 10500/10100.
Disclaimer : All ideas ...
Price has formed the big W pattern and also broken the intermediate term Trend line so one can conclude that downrend is over now and prices are supposed to move up. Prices have retested the down sloping trend line from above and bounced back. It is getting some resistence at the previous high level so one can use the retrace for a good entry. One can invest in ...
Moving In Channel.
Buy In Demand Zone As Per Comfort.
Risk Reward Favourable.
Other Details Mentioned In Chart.
Positional View For Educational Purpose Only.
Please Consult Your Financial Advisor Before Taking Any Decision.
I am not SEBI Registered Financial Advisor.
Nifty seems to have reached the level and could give a good short trade. There are multiple resistence in different Time Frames at 10840 level so it could be a good idea to sell Nifty at this level by providing the SL of 10920. One can look for a target of 10600 which offers a potential of good 240 points and a reasonable risk to reward ratio.
Disclaimer : All ...
Prices have nicely formed Up sloping channel and today's Engulfing offers an opportunity to go long at current level. One can risk the amout of one bar only. Prices have bounced at retest of lower trend line . We can initiate the long trade as the details given below
Entry 431
SL 408(closing)
Target 492
Risk/Reward Ratio 2.65
Disclaimer : All ideas are my ...
In Short Term Moving In Downward Channel.
At Resistance of Upper Line of Channel.
Bearish Cloud Acting As Resistance.
Trend Line Resistance.
Fibonacci Resistance.
Positional View For Educational Purpose Only.
Other Details Mentioned In Chart.
Please Consult Your Financial Advisor Before Taking Any Decision.
I am not SEBI Registered Financial Advisor.
Price action has nicely formed UP Sloping Channel which is quite easy to trade. RSI above 50 is also confirming the decision and today's bar has made a 3LR reversal pattern. One can take the long position as the details given below
Entry 216
SL 208(closing)
Target 232
Risk/Reward Ratio 2,67
Disclaimer : All ideas are my personnel view. Please take financial ...
hi, as we observed buying at lower end of rising channel, we may initiate buy as per showing chart. as we r going to see volatility due to election result so if taken trade kindly follow the stop loss strictly. risk to rewards is favorable
Brent Crude has been in a falling channel for few weeks now and that channel has been violated.
Price has also retested the channel once.
So assuming the low will hold Buy at 63 with a Stoploss of 59 Targets can be 64.3, 68.6 and 72.
Prices have nicely formed Up sloping channel which offers an opportunity to trade it at current level by risking a small amount. Prices have bounced at retest of lower trend line. We can initiate the long trade as the details given below
Entry 932
SL 899(closing)
Target 1030
Risk/Reward Ratio 3
Disclaimer : All ideas are my personnel view. Please take financial ...
Support @ Lower Line Of Smaller Channel.
Lower Bolinger Band Support.
Looks Good For December Series.
Other Details Mentioned In Chart.
Positional View For Educational Purpose Only.
Please Consult Your Financial Advisor Before Taking Any Decision.
I am not SEBI Registered Financial Advisor.
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