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Ascending Triangle

NZDUSD → Long retest. High chance of a false breakdown FX:NZDUSD is forming a retest of the resistance at 0.63809. We seem to have a bullish trend after breaking the downtrend, but there is a high probability of a false breakdown and correction. On the daily timeframe the price approached a strong resistance area. A retest of the 0.63800 level, formed in early May, is being formed after quite a lot of time and a large pool of liquidity has been formed above this area, which can prevent the price from going up from the first time. The scenario is as follows: from the resistance 0.63800 may be followed by a decline either to 0.63050, or a pullback less and a quick retest of the resistance, which will form a pre-breakdown consolidation and break the level. Countertrend trades should be opened with reduced risk. In the medium term, the price may continue to strengthen on the background of a weak dollar. Support levels: 0.6305 Resistance levels: 0.63800, 0.6515. I expect a correction in the near future and a slight decline to 0.236 or 0.382 fibo followed by a retest of resistance and an attempt to breakout. Regards R. Linda!
by RLinda
13
Nasdaq -> New All Time Highs Before 2024Hello Traders and Investors , my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Nas100 💪 After the Nasdaq perfectly retested the monthly 0.618 fibonacci retracement, previous monthly support and also broke above a clear bearish trendline, we had a solid rally of roughly 20%. With the Nasdaq now retesting the next weekly resistance at the $15570 level I do expect a short term rejection again away from the resistance and considering the overextended weekly timeframe, this scenario becomes even more likely. The daily timeframe however is still super bullish - the Nasdaq just broke out of an ascending triangle formation so I will definitely need some shift back to a bearish market before I then do expect a short term daily drop. Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint 📈 Thank you for watching and I will see you tomorrow! My previous analysis of this asset:
PEPPERSTONE:NAS100Short
by basictradingtv
33
BTCUSD → Pre-break consolidation and flat at resistance BITSTAMP:BTCUSD continues to forge an uptrend and also gives us preconditions that the growth will continue. The price is forming consolidation before the breakout and is confidently forming another bullish wave On the chart we see an ascending triangle, the key resistance area that holds the price is the area of 31500. The price continues to ford retests against resistance and forms a pre-breakout consolidation. Within the flat 31500 - 29700, a retest of 0.382 fibo and a false breakdown may be formed, which will increase liquidity for the continuation of growth. Another rally has moved into the consolidation phase and we have to wait for the preconditions that the price will be ready to come out of this consolidation again. Locally there are no key patterns, we should pay attention to narrow consolidations near resistance or a breakout followed by price consolidation above or below the level. Moving averages in the role of support indicate a strong trend Resistance levels: 31500 Support levels: 30000, 29700 I expect the consolidation to continue with the subsequent price squeezing to the resistance. A sharp retest will lead to the fact that the resistance may be broken. Medium-term outlook 32196-34000. Regards R. Linda!
BITSTAMP:BTCUSDLong
by RLinda
32
💱EURAUD - Break of triangle support gives a signal EURAUD failed to break through the resistance at 1.65000. Having formed a false breakdown, the price falls and breaks the support of the ascending triangle, thus opening a red carpet for itself TA on the high timeframe: 1) Price in range. From resistance, price may reach support in the medium term 2) Weakness on the buy side will lead to a quick test of support TA on the low timeframe: 1) a break of triangle support is a strong signal 2) Price breaks 1.6364 and heads towards 1.61868. 3) A retest of resistance is likely to follow. Key support📉: 1.62500, 1.60961 Key resistance📈: 1.63640
Short
by AndeWave
1
MASKUSDT → Tandem signal: resistance breakout and SMA crossing BINANCE:MASKUSDT is forming a correction in the format of a descending wedge. A rather strong consolidation is forming at the base of the uptrend under the resistance of the wedge. What to expect from the price? The coin breaks through the formed descending resistance and begins to form a bullish impulse. Since the bullish signal is formed at the base of the trend, the price demonstrates a rather weighty potential of 70-120% We have a tandem signal: moving averages crossover + wedge resistance breakout. Altcoins have recently improved dynamics and are starting to show good results, which suggests that the cryptocurrency market may come to life in the medium term. Support levels: 3,335, trend support, previously broken wedge boundary Resistance levels: 3,650 I expect a retest of the 3.650 level followed by a breakout. The buy signal is quite strong and there is a high probability that the coin will show bullish dynamics and rise to 4.840 or 6.00. Regards, R. Linda!
Long
by RLinda
10
NZDUSD → A break of the triangle resistance will form an impulseFX:NZDUSD is forming an attempt to change the downtrend on the background of weakening of the dollar. A resistance retest is being formed. What to expect from the price further? The price left the channel last week, all this time a consolidation in the format of an ascending triangle is being formed. The price continues to test the triangle resistance and 0.62359 for a breakout as we see a weakening dollar, consolidation after the resistance breakout and several other indications that the price is preparing to continue rising. A false break of resistance could form a pullback to nearby support, but based on the potential, price could continue to head towards resistance. Support levels: 0.61911 Resistance levels: 0.62200, 0.62359 I expect a pullback from resistance and another retest on the background of an attempt to change the trend. If resistance is broken, our target will be 0.63000 and 0.63810. Regards R. Linda!
Long
by RLinda
10
🥇GOLD - False break of channel resistance Gold is breaking through global channel resistance, but is also bumping into a strong horizontal level. TA on the high timeframe: 1) The trend is still bearish, price is under strong resistance 2) Price is discovering a new range. But if price consolidates below 1930, a bearish potential will form TA on the low timeframe: 1) A bullish wedge is forming. A breakout of the figure's boundaries will form a strong impulse 2) The price inside the ascending price channel makes a false breakdown of resistance 3) The price after the false breakdown may form a correction to the support. 4) Breakout of 1938.915 will give a buy entry point Breakout of 1930 will give a sell entry point Key support📉: 1930 Key resistance📈: 1938.915
OANDA:XAUUSDShort
by AndeWave
16
SPX - Ascending Triangle (potentially bullish)A bearish divergence that appeared on 30th June had resulted in a short term and relatively shallow pullback (50% retracement of the mini AB swing) lasting several days. The uptrend has remained intact so far (and very much so). In fact it looks like an Ascending Triangle pattern could be forming. This is a continuation pattern (of a prior trend, which was "up"). Waiting to see if a breakup will materialise in the near term. However, should it break down instead (though with lesser odds), then current support is still around the 4300 region. Disclaimer: Just my 2 cents and not a trade advice. I like to keep my analysis simple as analysis paralysis is real especially for newbie traders! Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is (probably the most) important! Take care and Good Luck!
SP:SPXLong
by Juliac
MATICUSDT → Breakout figure and an attempt to change the trend BINANCE:MATICUSDT breaks through the resistance of the key figure and opens a new bullish potential. If the nearest resistance is broken through, the price can form a strong momentum. Earlier we saw an attempt of strengthening, which smoothly changed from an ascending price channel to a bearish wedge. The latter figure is quite capable of breaking the trend and changing it, for this in our case, the price needs to pass through the resistance of 0.7440. Recently cryptocurrencies, both bitcoins and altcoins, start to recover, and there are even some fundamental reasons for that. The moving averages act as resistance, but at the moment the MA-50 is being tested and in case of a breakout the 31% range will open, which is quite an interesting prospect for us. Support levels: 0.6500 Resistance levels: MA-50, 0.7440 I expect consolidation near resistance, followed by a breakout and bullish momentum. The medium-term target is 0.9700. Regards, R. Linda!
MLong
by RLinda
14
ACCO Potential up until $6.39🐂 Trade Idea: Long - ACCO 🔥 Account Risk: 1.00% 📈 Recommended Product: Knockout / Option 🔍 Entry: +/- 5.57 🐿 DCA: No / Yes, up to or down to xxx.xx 😫 Stop-Loss: 4.75 🎯 Take-Profit #1: 6.39 (50%) 🎯 Trail Rest: Yes 🚨🚨🚨 Important: Don’t forget to always wait for strong confirmation once possible entry zone is reached. Trade ideas don’t work all the time no matter how good they look. Do not get a victim of FOMO, there is always another trade idea waiting. 🚨🚨🚨 If you like what you see don’t forget to leave a comment 💬 or smash that like ❤️ button! — Double bottom on the weekly at 4.27 with an ascending triangle formation. At 6.50 we can see the current neck line. First profit target should be slightly below at 6.39. Rest can trail and if we can jump above the 6.50 we could see some substantial upward potential. — Disclaimer & Disclosures pursuant to §34b WpHG The trades shown here related to stocks, cryptos, commodities, ETFs and funds are always subject to risks. All texts as well as the notes and information do not constitute investment advice or recommendations. They have been taken from publicly available sources to the best of our knowledge and belief. All information provided (all thoughts, forecasts, comments, hints, advice, stop loss, take profit, etc.) are for educational and private entertainment purposes only. Nevertheless, no liability can be assumed for the correctness in each individual case. Should visitors to this site adopt the content provided as their own or follow any advice given, they act on their own responsibility.
NYSE:ACCOLong
by LGNDRY-Capital
1
GBPUSD → What kind of reaction could there be to resistance? FX:GBPUSD continues to form an uptrend, but at the same time the price is hitting a strong resistance area. We are waiting for the price to react to the area, which will determine the further direction. A retest of the level 1.28484 will tell us that the market will prepare to strengthen after breaking through resistance, but a consolation below the level will signal further decline to 1.26900. In an uptrend, the price could test the resistance again in the near future. The dollar is in a range and a decline towards support will give the currency pair a jump to break through resistance. The pound might continue to strengthen in the mid-term based on a more positive fundamental background than the dollar. Support levels: 1.27267, 1.26800 Resistance levels: 1.28484 I expect an attempted retest to the resistance, which may give a further signal. It is necessary to monitor the price reaction to the upper limit of the range. It may be followed by a pullback before further growth. Regards R.Linda!
by RLinda
15
Buying Opportunity📈 My bias is strongly inclined towards buying GBPUSD. Currently, I'm eagerly anticipating the formation of an Ascending Triangle trading setup. 🔍 There are two possible scenarios to consider: 1️⃣ Waiting for a retest back to the trendline for a prime buying opportunity. 2️⃣ Observing a violation of the red line at 1.2853, followed by a retest, before entering a trade. Stay tuned as we closely monitor the market for the ideal buying entry. Don't miss out on this potential opportunity for profitable trades! 💰💼 #GBPUSD #AscendingTriangle #TradingSetup #BuyingOpportunity #StayTuned
Long
by RaynLim
GOLD → Mid-term perspective OANDA:XAUUSD breaks the uptrend. A break of the support of the bullish price channel ends the impulse to 1893 and forms a smooth transition to the state of consolidation in the flat boundaries On Friday, the price makes a retest of the previously broken support level of 1935. Tandem of technical and candlestick analysis does not give the preconditions for a possible breakout of the resistance in the near future. In the first half of the week the price might again test the 1935-1939 area and make a false-break. The situation looks bearish at the moment, so my main priority is the downside of the price to 1907 with a new attempt to break-through this support. The moving averages are also pointing at the formation of a global flat. 1954-1870. The strong pressure from the sellers is likely to be still present in the market. The medium-term outlook points to a possible further decline. To make a bet on further growth from the technical analysis point of view, the price should break through the resistance area of 1935-1935, and then the momentum to 1960-1981 will be formed. There are some interesting news in the week ahead. The inflation in the west is still high and in that case the gold has negative fundamentals as the Fed continues to aggressively look at the rates. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
19
BTCUSD → FB before the breakout, waiting for the retest BITSTAMP:BTCUSD is testing strong resistance at 30575, but a false-break of the level tells us that the price is not ready to grow (at the moment). It might form a pullback or flat pattern below the level before rebounding further Globally, we have a bullish trend, the price is getting stronger. The rally is followed by a consolidation and a pullback, after which the cycle repeats again. The price is gradually renewing its highs. Fundamentals are getting stronger amid a surge of activity and some positive investor interest news. The moving averages on the D1 show us a bullish trend, the same is true for the weekly chart. The price forms a range after breaking through 25000. The range boundary is 30285 - 25000. I would not expect in the medium term a decline to 25000, most likely the price may form a consolidation between 30000-28500, after which the price will continue to form resistance retests for a breakout. Support levels: 29800, 28500 Resistance levels: 30575 I expect a consolidation or a technical pullback after a rally. Bitcoin is not highly susceptible to technical analysis, but it is excellent on fundamentals. Fundamental background is more inclined to a positive trend. In the medium term, I expect growth after the breakout of 30575. Sincerely R. Linda!
BITSTAMP:BTCUSDLong
by RLinda
6
GMX high trader grade on token MetricsGMX presents a bullish opportunity with positive indications from the Token Metrics Trader Grade ratings and chart analysis. The price action on GMX is forming an ascending triangle pattern, suggesting a higher likelihood of a breakout to the upside. Based on this pattern, the measured move indicates a potential gain of 42%. Additionally, there is a noticeable gap in the Volume-Weighted Price (VRP) all the way up to the measured move level, indicating potential momentum for further upward movement. When considering the technical indicators, both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) suggest the possibility of a retracement towards the lower boundary of the triangle. This could be considered a riskier entry point but offers greater potential rewards. Alternatively, a more conservative approach would be to wait for the price to break above the upper boundary of the triangle and retest it as support. Setting alerts on both the upper and lower trendlines would be prudent. Monitoring smaller timeframes like the 5-minute chart can provide additional insights for determining an entry point. Overall, GMX appears to have a bullish outlook with multiple factors aligning in favor of a potential upward move. As with any trading decision, it's important to conduct thorough analysis and consider personal risk tolerance before entering a trade.
Long
by Fermented_Crypto