Ascending
Coal India : Ascending-Broadening Wedge PatternHey Guys,
Happy Monday... We got one of the broadening types of wedge pattern and right now CoalIndia is moving between the upper n lower trendlines of wedge pattern. We can't trade at this moment using this pattern. But wait for the breakout,Once the breakout happens enter the direction of breakout.
Sometimes due to volatility of market false breakout can happen, so don't get caught on wrongside, even if that happened don't hesitate to take trade on other side after valid breakout. I have marked an area on lower trendline,what happens approx. around that area will be key factor to make decision.
Hit Likes to agree with the post.... Thanks for your support !
Happy Trading !
SGY- Long from 7.53 to 11.30 (Swing Trade)SGY- Long
Trade Logic: SGY- Long
Trade Logic: Ascending triangle formation, swing trading
Entry Price: 7.53
Target Price: Target 1-9.2, Target 2- 10.61 & 11.30
Stop-Loss: 6.57
You can check our detailed analysis on SGY in the trading room link here-
Trade Suggestion Date: 21/6/2016
Trading Room - Executive summery link:
Time Span: 13:15”
Trade Open: Waiting for entry confirmation
GBPJPY: Heres to all the short term traders!Hey gang! Genesis here!
Found an Ascending Triangle on the Daily chart for the GBPJPY pair and if you look here closely on the 4H chart, price is hitting the trendline soon! One thing I really love about trading the insides of a pattern, is because they the entry and exits are so predictable!
What influenced my decision:
-Stochastics Divergence (oh, this is a strong one)
-Trendline support (Ascending triangle)
-Weakening price (look at it, price has been declining so fast and recently in about the last 6-7 bars, its been small tiny bars)
Exit at the major resistance at the top!
Good luck guys! May the pips be with you!
False Break-outAs it was the case for AUDUSD, this pair consolidated in an ascending triangle for quite some time.
However, anasty false breakouts of this triangle signal more weakness ahead.
XAU/USD Gold - Potential Long on breakoutOur thesis is in the following link provided on our site:
totalmarkettraders.wordpress.com
EURGBP - Ascending Wedge likely to break soonGreetings Fellow Traders,
EURGBP has begun forming structure worthy of my attention, an ascending wedge. An ascending wedge typically break out in a bearish manner due to the fact that they usually occur at the tail end of an established bull trend. The targets for the wedge will be near the .75000 mark as this is where the market initially found support from the wedge.
Rising EURUSD pressure to actually fuel a much larger bearish continuation and GBPUSD although bearish still, likely to slow it's descent in the coming days.
Watch on the daily charts for the lower support shown to be confirmed to be broken - for added momentum and confidence that you are trading with the rest of the market.
If you choose to enter earlier, you do so at your own discretion and with the understanding that this trade is not yet confirmed.
Feel free to comment/like/follow.
Long GBPAUDTrendline, fibonacci confluence, ascending triangle, structural support and pinbar,
I got in at a little better price as indicated on the chart.
Good luck!
NFLX Cup and Handle / Double Bottom / Ascending TriangleNetflix has made an easily recognizable double bottom shape, in this case since the trend is not reversing but instead continuing it goes by another name, the Cup and Handle. Others might see it as an ascending triangle.
AUDJPY: Ascending Triangle on 1 hour Looks like we got an ascending triangle formed on 1 hour chart. In this trade setup, the price can break EITHER to the upside OR to the downside. Therefore, we look for a breakout to either side. If breakout to the upside, entry should be above the horizontal resistance line. If breakout to the downside, entry should be below the slope of the lower highs. See the chart for potential target levels for both buy and sell entry.
BITCOIN: The coming hours there will be some nice red candles.The double top of yesterday broke down, although it did not go straight down to 240, we were able to take profit. Unfortunately that same pattern is not visible on the huobi charts, where there was a weird head and shoulder / triple top-ish pattern. Nevertheless, all charts where pointing down.
Today I use BTC / CNY on huobi for chart because it illustrates a perfect bearish wedge which is about to break, most likely to the downside. Time to stay alert, wait for the break down and open shorts with a very tight stop loss just above the lower trend line of the current wedge. When the break down occurs, it will be a FACT that we will visit 1540 support (which is about 245 USD, same target as called yesterday, it is still valid).
I think we will see some nice rebound after 245, so stay tuned as I will update as soon as the current targets are reached.
Good luck!
Bitcoin likes ascending wedges. New lows coming soon!Seems like the correction from the 170 low is almost done. We might see one last surge up towards the 240 range, but I think we will see new lows after this, possibly sub 130 if the correct dosis of panic is injected.
The correctional pattern seems to be developing in a regular ABC correction within the ascending wedge. I suspect a breakdown any time within the coming 7 days.
There is good chance this final plunge will be THE final plunge, I believe the previous sell-off could be classified as "panic" category, meaning " despair" has yet to come. after this we might finally see some nice bull run which could last for several months.
be greedy when others are fearful...
AUDUSD Harmonics playing nicely in a newly Ascending ChannelBeautiful harmonics inside of a possible ascending channel. We'll see if this channel holds if the current Bullish Bat formation develops and plays nice as it's ancestors. Currently aggressive traders take short position of C Bat leg with SL above C. Overall trend is reversing from long term Bear. Shall we see if the Bearish Butterfly Double Bottom would paint a picture perfect trend reversal.
LNKD (Linked In) Target for 20% gainLinked in created and inverted ascending scallop -- confirmed. (thepatternsite.com). A bonus is the U-shaped volume with the pattern.
This alone sets the target price at 279.25.
In addition, a cup and handle is in the process of forming, which if successful, sets an intermediate target price at 263.
On Balance Volume (OBV) also remains in a very positive upward trend.
FB forming ascending triangle and it's all most readyDaily chart forming ascending triangle (BULLISH triangle) and it's all most ready for big movement. Need few more days for confirmation. 31 MA is the main support. Most indicators are bullish.
MRK Tight Consolidation Break - Long/Short (SAR)As I point out in the chart, MRK is in a very tight consolidation here. With the RSI holding inside of bullish territory after it's recent bounce off the 150EMA it has run into previous resistance. This resistance coincides with a sort of ascending triangle based on the higher-lows it has been making since March '14. This pattern comes to us after a long run up from Nov '13, leading me to have a bias for this play to the upside.
The goal here is to watch it intraday and get long one tick above the most recent bar high ($59.37). Alternatively, we will get short intraday at one tick below the most recent bar low ($58.89) and holding it short expecting a bounce off of the resistance.
The idea is to SAR (Stop & Reverse) the position on a close one tick above/below the same high/low, depending on how we entered.
This means we have $0.77 cents of risk either direction. With a target on the downside around $56.30 and to the upside $64.75 by conservative estimates, that gives us a favorable risk reward. All said and done, the thinking here is that with this tight consolidation at a key level, a big decision will be made here in the coming days, that will make a big play for us. What happens after these candles could be the deciding factor, and we may even see a candle that reinforces one direction over the other to help us in our decision.
TSL back to 15.50There was a recent break of a triangle pattern to the upside. After a kiss of the trend line, TSL should look to retest 15.50 given an equal distance move from the base of this triangle pattern.
Bitcoin Price - Pop or Drop?This chart is a minor re-draw of the chart originally published by chrisdunntv. Changed the following:
1) Moved blue lines to touch candle wick lows and highs. You still have two touches on the ascending blue support line and the descending blue resistance line.
I believe this better reflects the recent weakness in the bitcoin price as highlighted in the yellow oval. It also allows a little bit of additional time for price to resolve as it has extended out the blue support and resistance lines a few additional days. I think those additional days will be needed to really get a good feeling for which way the price is heading. The way this was drawn showed price falling through the ascending support. I think this is what is going to happen ultimately, but believe by adding a little extra time for this to resolve that the move will be clearer should price drop through and head toward $560.
You can see that around the $560 level the Bitcoin price found support and did not fall all the way to the ascending blue support line.
However, recently, the price has consistently failed to reach the upper blue resistance line.
It looks to me like the price will fall through the ascending blue support line. We will then get a chance to see if near the $560 level will provide support or not.
#CADCHF loosing steam!CADCHF is still trading in channel. The 833 level seems to be a strong res. PA is currently trading at 835 levels and still no strength to make new highs. With nice RSI divergence a ret. to 8284 or 824 should happen soon.
#GBPCHF short - test of #breakoutGBPCHF is trading in an ascending channel, bullish trend. PA reached the top boundary and 127.2 ext of previous high on very strong impulse leg from the bottom channel boundary. Although the 113 ext at 52 provides support last week the breach is likely to test 5122. The support can be observed on the RSI too (red TL).
