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Ascending Triangle

DXY - Daily - Multi-Timeframe Analysis Series 1The DXY being weighted as follows: EUR - 57.6% JPY - 13.6 % GBP - 11.9% CAD - 9.1% SEK - 4.2% CHF - 3.6% As you may imagine, there's a lot more interest in using the DXY for a correlation / confluence tool when trading the EURUSD . The EURO equates to over half of the overall weight of the index, meaning there's a majority interest in the EUR vs USD. We can use this to our advantage, alongside the USDOLLAR INDEX, to add positive or negative trade factors when considering positions across USD pairs and commodities . Comments I've let the Daily remain zoomed out to show the potential for a consolidation formation. It looks closer matched to an Ascending Triangle (potential to break to the upside or downside) rather than a Rising Wedge (strictly reversal pattern). If the Monthly is looking prime for a sell-off, I must favour the Ascending Triangle breaking to the downside. Only time will tell, but I won't be counting on massive Dollar Strength beyond 97.50 unless we see a big Weekly close above this key level. Unless this starts to break down below the 96.00 handle, it's still bullish for me moving into next week. Key Note Look at how price isn't respecting the EMA's as well as it has done in the past. This is an indication of consolidation occurring on this timeframe.
TVC:DXYEducation
by robdee4x
ANAB - "ANAB-tomy" Of A Winning Long Trade?Sorry for the stuffy nose! Nonetheless, here I talk about qualities of a trade that help determine it as a winner. This is just a short version of what to look for, just to give some of the things to consider in the process. As a general statement, there are 2 things that make up a stock: technical factors (price behavior) & fundamental factors (financial statement info). Fundamentals are important for longterm investments where company growth & strength are important, since over time, more people will get interested and buy the stock in the future for further price appreciation (5-10+ years for a solid investment). Simple fundamentals just looks at company profits and how much cash the company has access to, but for a detailed fundamental analysis, the company will need to be known and understood on a very high level as if the investor is one of he founders of the company. Before the investment is made, you must know almost everything about how goods/services reach the consumer/customer. For a trader, correct technical analysis is most important (everyone can do technical analysis, but it takes time to do it in a more realistic fashion without dreaming too much or trying too hard to predict a specific future price action). The more factors that favor your objective to buy the stock, whether as a trade or investment, the more likely you will win from the trade. Here is the list from the video: 1. Technical favor -Price accumulation: price usually builds up slowly before exploding upward in an uptrend, with only few/small price corrections in the trend (it is hard to see this early but it is typically only obvious late AFTER the trend has started) -Volatility contraction-expansion: I talk about this all the time I'll skip it; it is very important to always look for though -Price eagerness to increase: when price keeps trying to push upward to newer levels, this tells that at least there are also other people who see the stock going higher and are willing to put their money on the line for it -Supportive base: the price action should show you that the price has no interest in testing lower levels, which means there are no aggressive sellers, investors or other traders are not selling off and there is a positive sentiment toward the stock -Industry/Sector performance: this was not included in the video, but it usually gives you a great technical context especially when you are diversifying or trying to pick a home run stock (it's still very difficult to pick one though) 2. Fundamental favor (if considering longterm investing) -EPS growth past 3-5yrs (should mirror revenue/net income): this tells you the company's plan to grow/expand and make profit in the process is working, and hence the company is still appealing to old and newer investors -Free cash flow: I didn't explain this well in the video, but I meant to say that a good cash flow means the company has cash on hand aside from other assets to be able to pay off any debt or sudden expenses today if the need arises (this is a very simplified version just to give you an idea) Let's see what ANAB can do! Looking forward to comments or PM discussions.
NASDAQ:ANABEducation
by themdtrader
Lesson 6B: Breakout Patterns - Ascending Triangle (Bullish)Hello Friends, Welcome to the series of Lesson 6. In Lesson 6B, we are going to learn the Ascending Triangle breakout pattern. This is more of a continuation pattern rather than the reversal pattern as oppose to the Falling Wedge pattern that we learned in Lesson 6A. Lets get straight into the topic. Please be very careful. We will be referring to the chart above or below to get a better understanding of the topic: What is Ascending Triangle Pattern? Ascending Triangle is a bullish continuation pattern, which we quite often see in the crypto world. When a coin is inside the Ascending Triangle, it means it is currently being accumulated, before it breaks out. Formation: Lets go back to some Mathematics. We all studied what is a Right Angle Triangle correct? If we look closely at the chart above, we see that it is forming a right angle triangle. There are two lines to this formation, one is the resistance line, which is horizontal as you can clearly see. The second is the support line which is ascending as you see and it moves up with the price (basically it is inclined moving up as we go from left to right). The horizontal (resistance) line is formed by 2 or more equal reaction highs touching the horizontal. The ascending (support) line is formed by 2 or more higher lows touching the ascending support line. The Rules: So obviously, you won't just draw an ascending triangle, and think that this is a bullish pattern. There are a few things you need to confirm before making an entry into the coin. Lets look into it. You must be wondering, how many times the price candle has to touch the resistance line or the support line to consider this pattern valid? Here is the answer: For the Horizontal (Resistance Line), the price candle has to touch at least TWO or more times to consider a part of this pattern valid. Notice in the chart how the price pull after touching the resistance line FOUR times. For the Ascending (Support Line), the price candle also has to touch at least TWO or more times to consider this pattern valid. Notice how in the chart the price candle bounces after touching the support line THREE times. Note (IMPORTANT) : For the Resistance Line, it is preferred that the candles touching it are equal or doesn't differ in height by too much difference. Usually I only consider the patterns for which the reactions highs are equal for this pattern. For the Support Line, it is preferred that we have reaction lows as Higher Lows. If we see a reaction low lower than or equal to the previous reaction low, this pattern will be INVALID. Also note from the chart that there has to be a little distance between the reaction highs, or reaction lows, as you can see in the chart. Just a little is fine. Since crypto is very volatile, the length of time this pattern occurs doesn't really matter much, but the longer the length the stronger the patter. It's that simple. I stick to 30m or more for this pattern. I am sure you guys are understanding this really well, as this pattern is very simple to understand or do I make it simple to understand? :P Lets take a look at the breakout setup. Continue reading below.....
Education
by MoneyChartz
3
So You Think that Patterns are Useless? Reevaluate it.Hey, I am back with another, this time educational analysis. In this educational analysis you can see some obvious patterns in the chart, that helps you decide when to buy or sell. Simple usage of just three indicators, Volume , RSI , and MACD . At first I though, sure, how can some pattern show me the price movement.. But I was wrong. Ok, so in the time of 9 hours, we can see two Pennants , one Ascending Triangle , Head and Shoulders and Small Flag. If u were this time, during the breakout looking at the graph, and you were able to spot all these Patterns you could earn 62,5% in 9 hours! For Example, The top of head and shoulders, the top was when it did triple top on RSI and MACD showed trend reversal. Unfortunately, in the 15 min chart, it looks kinda Meh, so please, take a look lower, where is the 1 min chart, that is a lot more clearer. Tradingview doesnt allow to post less than 15 min charts. Thanks!
VEducation
by TiborVrbovsky
Example of an Ascending TriangleGBPAUD formed an ascending triangle. We could see a horizontal upper line (that would be a resistance) and a lower uptrend line (that would be a support). Prices moves with equal highs, and lows higher than previous. Then after a few attempts, the prices finally break through resistance. The ascending triangle is a continuation pattern. Prices come from an uptrend then prices bounce inside the triangle before breaking higher. To confirm the breakout, the price should close above the resistance line, if so, make a long. The profit target is the distance away as the back of the triangle.
Education
by heco08
Simple Patterns Tutorial Part 1. Ascending TrianglesHey Traders, I am going to do a short free tutorial on Simple Patterns. This tutorial's purpose is to show you: -How to Identify Ascending Triangles -How to measure the move to project price targets -Examples of how you can create a rules based Strategy around Simple Patterns. - Psychology behind Ascending Triangles The Ascending Triangle is a Bullish Pattern and should be traded with the trend! There are a couple things that you should consider if you decide to create a strategy based around these Patterns: 1) I have found that these Patterns are not very successful if you are using them for countertrend trades. I'm sure someone out there has a strategy that consists of these patterns to signal a counter trend trade however it personally did not work for me. I found that these Patterns are extremely accurate when you are trading with the trend and couple them with a pullback or specific candle formation after the breakout has occurred. 2) Volume should increase when price breaks out of the Ascending Triangle formation 3) These Patterns will not always be picture perfect therefore we need to look for the characteristics of the Pattern as opposed to perfect lines. The characteristics being, relatively equal highs creating a near horizontal Resistance line, and higher lows creating a rising (Ascending) Support line. 4) These Patterns tend to complete within 3/4 of the way to the APEX. I have found that these Pattern tend to be invalidated if price trades to far into the APEX. Psychology behind an Ascending Triangle: The top line of the Ascending Triangle (Resistance) is a price level where the sellers are able to overcome the buyers and push price down. As this pattern continues to form, you will notice that the sellers are unable to push price as low this time and this is where the Ascending Trend line begins to form. As this pattern continues, again the sellers are unable to push price as low as the most previous low and the buyers are beginning to overpower the sellers. The Psychology aspect is that every time the sellers push price down, the buyers are willing to pay a higher price for there shares (this creates the Ascending Triangle). Eventually, the buyers will pay a high enough price to overcome the sellers and break through the upper Ascending Triangle line (Resistance). I hope this was helpful! I cannot possibly cover every aspect of every pattern so please feel free to message me or comment below with any questions you may have! I will be happy to help! Thanks Traders, make sure you do your due diligence and back test any strategy or pattern that you are attempting to create. You will also need conditions, criteria, and rules for that strategy. This will save you a lot of money and give you confidence in your trades. I have attached a live example of an Ascending Triangle below and I will periodically be posting more examples like that one as an update to this tutorial.
TVC:DXYEducation
by Alec40
6