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.
Moving In Upward Channel.
Respected Resistance Line Of Channel & Fallen.
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.
If support is broken on 30min clbs ., then it can touch the lower trendline or in case of a bounce back from support, expect it to touch the upper trendline.
All the levels are mentioned on the chart.
Disclaimer - Not a recommendation to buy or sell, view only for educational purpose.
Hi Guys, STRTECH Buy side is more likely to happen tomorrow if it corrective drop let the market to dance breaking trend line invalidate idea.
***Use Proper Risk and Money management Rule if you don't had a one please watch the play don't trade
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At Multiple Support.
Moving In Short Term Channel.
At Support Of Lower Line Of Channel.
If Support Respected Making of AB=CD.
Risk Reward Looks 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.
Hi Guys, INDUSINDBK possibly gonna make corrective drop.
***Use Proper Risk and Money management Rule if you don't had a one please watch the play don't trade
Please comment below and hit the like do share which will encourage me to post more new ideas
Thank you
Playing well in a channel, in the last session, rebounded from the bottom channel support.
If it doesn't breakout out from the channel on Monday, its high chances will touch 535 lvl soon
All the best for your trades !!!
All levels Mentioned in the chart.
P.S. These are my views, doesn't mean anyone should take random trades basis this. Please do your own analysis or consult a reliable adviser.
The bullion metal is in a rising ascending channel formation against the US dollar, in the short-term charts.
As of now, it is at its supportive trendline, which we expect to hold.
Hence traders can hop in and expect a rally up to the resistive trendline.
The bullion metal is an ascending channel formation in the 4-hour chart.
It faced rejection at the resistive trendline and formed three back to back bearish candles.
Hence we expect the counter to remain bearish and the pair to recede to the supportive trendline.
The pair is going down the hill slowly but steadily in a descending channel formation.
It was thrown down by the resistive trendline, in the due process, crossing a support level of 0.71157.
We expect it to test the broken support, which can be used as an entry point for a short trade, and then move to the supportive trendline.
ALK breaks out of the sideway consolidation which last for over one year. The width of the range could mark a potential Profit target so that the target Zone lies in a range of 41-47$. Close the trade if ALK moves back into the range.
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![INDIACEM: [EDUCATIONAL] - Reversal - India Cements](https://s3.tradingview.com/g/GRInGS2U_mid.png "[EDUCATIONAL] - Reversal - India Cements")
