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Descending Channel

GMT Is breaking out. Pump is starting, here is why.GMT is really bullish because the downtrend ended with a descending parallel channel. Volume is starting to be really high, which is a good sign. WXYXZ corrective pattern is complete, also a good sign. Where to take profit? I recommend 3 profit targets at this moment. Choose wisely, my last profit target is the previous all time high, which is a strong resistance and I don't think it will break on the first try. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades! FSL (GMT) was founded in August 2021 by Australian blockchain entrepreneur Yawn Rong. Mr. Rong has previously founded Crypto SA, an Australian crypto fund and pro-regulation auditor, and has served as an ambassador for Algorand and as an industry representative of the South Australian Blockchain Association. He founded STEPN with his neighbor and partner Jerry Huang, a game developer and former founder of Falafel Games. FSL raised a significant $5 million seed round from some of the biggest crypto venture capital firms like Sequoia Capital, Folius Ventures, Solana Capital, Alameda Research, 6th Man Ventures, DeFi Alliance and several others. Several notable angel investors include Santiago R Santos and Asia Partner of Republic Zhen Cao. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades!
Long
by Xanrox
10
POWR Ledger is going crazy, 10x still possible?POWR by Ledger is a very promising coin, as Ledger is one of the most popular crypto hardware wallets in the world. Fundamentals are pretty strong, and there is no doubt that this coin is going to continue in this promising uptrend. We are in a parabolic phase, so do not expect strong corrections. 10x is, in my opinion, still very possible if you buy the coin now. We can see that the bullish volume is relatively strong. I am expecting an all-time high in 2024 very soon. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades!
Long
by Xanrox
4
Beam is the next 100x coin. Time to buy.In my opinion beam is the next 100x coin. The price is still very cheap so you can buy it on the spot market. I believe we are going to hit a new all time high in 2024. Why I think it is bullish? I remember back in 2020 when everyone was talking about BEAM and JIM. Now the time has come for massive profits. We can see that the downtrend is broken by bulls and we have a strong bullish candles. This is a good sign. Let me know what you think about it, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades.
Long
by Xanrox
13
🇪🇺 EURUSD 🇺🇸 - A strong dollar is bad for the euroEURUSD may soon overcome the boundary in the form of support. Against the background of the downtrend, the price is forming a retest of support after a false breakout of resistance. This may be a strong signal for further price decline to 1.06655 Reasons for further decline: 1) False breakdown of resistance on the background of the downtrend 2) Strong dollar negatively affects the euro 3) Weak pullback. Price forms a retest of support
Short
by AndeWave
4
HNT is starting a huge uptrend, time to buy?We can see that HNT Is starting something very big. The downtrend ended with a descending parallel channel, and now we are in a brand new uptrend. The WXYXZ Elliott Wave corrective pattern has been completed, and we have already started a new impulse wave. What about the volume indicator? We have an elevated bullish volume, which is very important and confirms my bullish bias. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades! Helium aims to improve the communication capabilities of wireless Internet of Things (IoT) devices. In 2013, infrastructure around IoT was still in its infancy, but developers wanted to add decentralization to their offering, hence referring to it as “The People’s Network” in official literature. Its core appeal will be to device owners and those interested in the IoT space, with financial incentives providing further outreach possibilities. Network participants purchase Hotspots — a combination of a wireless gateway and a miner — or build their own. Each hotspot provides network coverage over a certain radius, and also mines Helium’s native token, HNT. The network runs on proof-of-coverage, a new consensus algorithm based on the HoneyBadger BFT protocol which allows nodes in a network to reach consensus when connection quality is highly variable. In addition to HNT, users pay transaction fees in a separate token called Data Credits, which are not exchangeable and tied to individual users themselves. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades!
Long
by Xanrox
10
OM can 12x in a few weeks. Buy now?Technical analysis Since my last technical analysis on OM, this coin made 190%. I believe this trend will continue in the next few weeks and month and soon we will hit a new all time high. We can see that the volume is extremely strong and whales are buying. There is absolutely no sign of weakness at this moment and the price action looks absolutely unstoppable. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades. About MANTRA MANTRA is on a mission to build the world’s preeminent and most-trusted decentralized finance ecosystem by bringing security, compliance and democratized access to DeFi. Through its flagship projects including MANTRA Finance and MANTRA Chain, MANTRA addresses key challenges that have held back institutional adoption of DeFi.
Long
by Xanrox
3
HUT - a crypto-mining stock setting up for a long tradeHUT is a volatile small cap in the crypto sector. It has earnings in five weeks and so has plenty of time for a run to the report. On the daily chart, it finds itself in a descending falling more or less parallel channel and testing the lower support trendline of that channel. The last trend down took about six weeks. A Fibonacci 50% retracement would take price to 12 while the top of the channel resistance which is falling would be in the zone of 14. Accordingly, a long trade could be potentially in the range of 55-100% or so over two months or less. The stop loss set below support at 5.3 would provide for a good reward-to-risk ratio. For those who follow fundamentals and catalysts, HUT has a new CEO who is a turnaround specialist. Plan- I will watch to see the short time frame RSI in green cross over the 50 level. I will then zoom into a 60-120 minute time frame and look for an entry point with narrow-range candles also going red to green and then take a long trade with those two targets. There are no options for this stock as far as I can tell.
NASDAQ:HUTLong
by AwesomeAvani
Sell USDCAD Bearish ChannelThe USD/CAD pair on the M30 timeframe exhibits a potential selling opportunity due to a well-defined bearish channel pattern. This pattern suggests ongoing selling pressure and a higher likelihood of further declines in the coming minutes or hours. Key Points: Bearish Channel: As visualized on the M30 chart, the price has been confined within a descending channel characterized by two falling lines: a resistance line and a support line. This ongoing downtrend signals continued selling pressure. Sell Entry: Consider entering a short position around the current price of 1.3460, positioned close to the channel resistance. This offers an entry point near a potential reversal zone. Target Levels: Initial bearish targets lie at the support levels of 1.3414 and 1.3396, marking previous support zones within the channel. Stop-Loss: To manage risk, place a stop-loss order above the channel resistance line at 1.3485. This helps limit potential losses if the trend unexpectedly breaks upwards. Thank you
Short
by KABHI_TA_TRADING
21
Sell EURCAD Bearish ChannelThe EUR/CAD pair on the M30 timeframe exhibits a bearish signal due to a well-defined downward channel pattern, suggesting a potential selling opportunity in the coming minutes or hours. Key Points: Bearish Channel: The price has been confined within a descending channel characterized by two falling lines, one for resistance and one for support. This pattern indicates ongoing selling pressure and potential for further decline. Sell Entry: Consider entering a short position around the current price of 1.4503, situated close to the channel resistance. This offers an entry point near a potential reversal zone. Target Levels: Initial bearish targets lie at the support levels of 1.4465 and 1.4452, marking previous support zones within the channel. Stop-Loss: To manage risk, place a stop-loss order above the channel resistance line at 1.4523. This helps limit potential losses if the trend breaks unexpectedly. Thank you
Short
by KABHI_TA_TRADING
10
EURUSD → How long will the bearish trend continue?FX:EURUSD tested downtrend resistance earlier, bears are keeping the price down and forming a tight stance amid a strengthening TVC:DXY . On the high timeframe we see the current bearish trend, within which the price movement will continue until more favorable times. The target in the medium term may become the area of 1.06300 - 1.0450 On H4 we are interested in the support at 1.0780. Since this is a local risk area for sellers, a strong downward impulse may be formed if this area is broken and the price consolidates below it. But, no less important level is 1.0724 from which a rebound may follow, as it is the lower boundary of the range. But another retest of this zone may lead to a breakout and further decline. Resistance levels: 1.0830, 1.0887 Support levels: 1.0780, 1.0724 In the long term, with a negative fundamental background and bearish trend, the price may continue its decline to the above targets. Regards R. Linda!
Short
by RLinda
9
Sell USDJPY Bearish Channel The USD/JPY pair on the M30 timeframe displays a bearish signal due to a well-defined downward channel pattern, suggesting a potential selling opportunity in the coming minutes or hours. Key Points: Bearish Channel: The price has been confined within a descending channel characterized by two falling lines, one for resistance and one for support. This pattern indicates ongoing selling pressure and potential for further decline. Sell Entry: Consider entering a short position around the current price of 148.03, situated close to the channel resistance. This offers an entry point near a potential reversal zone. Target Levels: Initial bearish targets lie at the support levels of 147.37 and 147.03, marking previous support zones within the channel. Stop-Loss: To manage risk, place a stop-loss order above the channel resistance line at 148.40. This helps limit potential losses if the trend breaks unexpectedly.
Short
by KABHI_TA_TRADING
9
Sell GBPJPY Bearish ChannelThe GBP/JPY pair on the M30 timeframe exhibits a bearish channel pattern, suggesting a potential selling opportunity in the coming minutes or hours. Key Points: Bearish Channel: The price has been confined within a descending channel, characterized by two falling lines, one for resistance and one for support. This indicates ongoing selling pressure and potential for further decline. Sell Entry: Consider entering a short position around the current price of 186.40, situated close to the channel resistance. This offers an entry point near a potential reversal zone. Target Levels: Initial bearish targets lie at the support levels of 185.50 and 185.02, marking previous support zones within the channel. Stop-Loss: To manage risk, place a stop-loss order above the channel resistance line at 186.90. This helps limit potential losses if the trend breaks unexpectedly.
Short
by KABHI_TA_TRADING
2
GBPUSD → What could free the price from the sideways range?FX:GBPUSD is in a flat range condition. The whole market has been standing still lately, which complicates trading due to the lack of safe zones to open trades. Yesterday was an interesting trading day in terms of outlook. The news from FED & FOMC defined a rough medium term outlook for the dollar, so we can use this information. There is just as much important news today. Technically, the odds are higher for the currency pair to change its trend from a sideways market to a downtrend. This scenario will be able to realize a break of the support at 1.2615, but, within the range, the price may stay for a long time, until a stronger factor appears, which will free the price. Resistance levels: 1.2784 Support levels: 1.2615 Today's news could also raise the volatility in the market. If the Dollar ( TVC:DXY ) continues to get support, but the pound will break the area of 1.2615 and the price may head towards our targets. Regards R. Linda!
Short
by RLinda
21
DOTUSDT - Bearish channel is dragging DOT down 🔽BINANCE:DOTUSDT (4H CHART) Technical Analysis Update TOKEN is currently trading at $6.99 and It got rejected from the bearish channel resistance 4 times (two times in 1 week ). Overrall rend is showing bearish and we can expect the price to reach its next support around 6.6 and major support around 5.9 NOTE: This is a high risk trade, enter with smaller capital than usual Long Entry level: $ 6.99 - 7.05 Stop loss: above 7.332 Target 1: $ 6.6 Target 2: $ 6.27 Target 3: $ 5.9 Max Leverage: 2x Don't forget to keep stop loss. Follow Our TradingView Account for More Technical Analysis Updates, | Like, Share and Comment Your thoughts. Cheers GreenCrypto
Short
by GreenCryptoTrades
1
XAUUSD H4 Channel PatternThe XAU/USD pair on the H4 chart currently showcases a bearish channel pattern, hinting at potential selling opportunities in the coming days. However, a breakout above the channel could present potential buy opportunities. Sell Opportunity: 1.A potential sell entry could be considered around the current price as it sits closer to the channel resistance. This allows for some buffer before a potential downward move. 2.Targets for the bear case would be the lower support line of the channel or potentially even lower depending on bearish momentum and confirmation from other technical indicators. Shifting to Buy: 1.A break above the upper resistance line of the channel would signal a breakdown of the bearish trend, opening up potential buy opportunities. 2.Entry points for buying could be considered just above the broken resistance or on a retest of the broken line. 3.Targets for the bull case would be the previous swing highs within the channel or higher depending on bullish momentum and confirmation from other technical indicators. Central Bank Decisions: Federal Reserve (Fed) Meeting and Interest Rate Decision (Jan 31): A hawkish Fed with a large rate hike (75bps+) and strong economic projections could strengthen the USD, potentially putting downward pressure on gold. Conversely, dovish hints or smaller increases could boost its safe-haven appeal. Bank of England (BoE) Meeting and Interest Rate Decision (Feb 2): A hawkish BoE could also strengthen the USD and weigh on gold. Dovish signals might offer some support. US Non-Farm Payrolls (Feb 2): A robust US jobs report might reinforce hawkish Fed expectations and weigh on GBP/USD. Conversely, weaker data could dampen USD strength and lend some support to the pound. If you found my post helpful or informative, could you please leave a comment 💬🖌 and hitting that like button💚💚 “Markets are never wrong, but opinions often are.”-Jesse Livermore Good Luck💛💛 Thank you
OANDA:XAUUSDShort
by KABHI_TA_TRADING
7
EURUSD → Pre-break consolidation. Lots of news aheadFX:EURUSD is forming a trend change amid the strengthening of the TVC:DXY . Important news is expected today, which can affect the market in different ways. On D1 we see the formation of a strong accumulation at the dollar index. Earlier and still the dollar index is supported by rather strong comments from the US regulators, which negatively affects the euro. The currency pair in turn breaks strong daily support and is gradually heading downwards. From a technical point of view, the fall may continue as the key area has not yet been tested. On the chart, it is clear that the 1.0700 area is an interesting zone at the moment. Resistance levels: 1.083, 1.0887 Support levels: 1.082, 1.0724 On H4, support is formed, which restrains the market - 1.082. A breakout and price consolidation below the level could form a bearish momentum that could continue the trend. But, as there is a lot of news today, try to trade safely! Regards R. Linda!
Short
by RLinda
10
GBPJPY → False breakdown and obvious bearish pressure FX:GBPJPY is forming a false break of the resistance at 188.3 and is forming a consolidation, within which it can be seen that the market is under pressure from sellers. On D1 we see the formation of the global range 188.3 - 179.9. The price is forging a retest of the resistance of the range in the format of a false breakdown. After that consolidation will be formed. So far it is difficult to call it a pre-breakdown consolidation, because on local timeframes the price movement is preparing for a price drop. Local highs are gradually decreasing and the probability of breaking through the base of consolidation - 187.38 level is increasing. In this case there is a probability of starting correction to 185.9, 184.3. Globally the market has no trend, because the price is in sideways movement, and locally it is still bullish, but when breaking through the base of 187.38, the market phase may change. Resistance levels: 188.3, 190 Support levels: 187.37 Indices of GBP, JPY currencies are standing still, GBP looks more optimistic, but on the background of geopolitics it gives prerequisites for correction, which can negatively affect the currency pair. Regards R. Linda!
Short
by RLinda
14
Bitcoin - Next 18% crash is almost ready!Bitcoin is almost ready for an 18% crash. One more small pump is possible because we have an unfilled FVGAP above the current price. Usually, the market moves in waves as per Elliott Wave theory. My Elliott Wave count suggests that we are still missing another wave to the downside market as WXY. Currently, the price of Bitcoin is inside this parallel descending channel, which you can use to your advantage and trade it accordingly. Where can you take profits from your short position? Always use a Fibonacci extension tool and target a 1:1 FIB extension for corrective waves. In this case, the 1:1 FIB extension is at 34000 USDT. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
Short
by Xanrox
6
GOLD → Resistance Retest. What is the chance of a short-squeeze?FOREXCOM:XAUUSD has been testing trend resistance since the opening of the session. At the same time, the dollar index continues to consolidate, but within the upward trend. Regarding the trend resistance XAU we observe a retest, if we pay attention to the volumes, they are absent. What is the probability of a short-squeeze in such a case? The market may go from local downward movement to a sideways phase, as evidenced by the unclear market environment and global flat trading in the whole forex. The new range in gold could be: 2035-2020, or 2060-2020. There is an important resistance ahead - 2035, which may be of interest to the market maker because there is a huge pool of liquidity above it, which can be determined by the volume profile. Resistance levels: 2035, 2039.4 Support levels: 2020, 2010 At the moment it is worth looking at the resistance at 2035 and 2039.4. * A false break of the lower one will generate signals for the continuation of the range formation. In this case, the price will head towards the support. * But a breakthrough and price consolidation above 2039.4 will form a signal for the continuation of growth to 2040-2060. TVC:DXY COMEX:GC1! TVC:GOLD COMEX_MINI:MGC1! Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
16