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Ascendingtrianglebreakout

ETHUSDT needs to hold the supportOn the upper chart, we can see the daily timeframe where the price got rejections from the dynamic resistance and the weekly one on 3k. The price is testing a daily support and the market is trying to hold it on 2560$ On the lower timeframe the price is going to retest the previous zone as new resistance, we could see a pullback on 2610-2640. How to approach? We are monitoring the price, if the price is going to have a pullback and got a new rejection from the previous support and retest the daily resistance, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Short
by InkyGrip
8
EURUSD DESCENDING CHANNEL (SELL or BUY)The daily chart is where we get the overall perspective of where the market might be headed and can influence how the market behaves from other timeframes. now in this case we see EURUSD creating a descending channel right? yes, and we should be looking for sells because the market is still channeled in between right? However, my chat is that we should look at the little triangle created, what about it? The triangle is now telling us that price will either break above or below the triangle. Should that happen then we will be able to make an informed trading decision. If it breaks above, we will be surely buying this market. But be careful when this breaks below the triangle, because the market maker might just trap sellers. Why I say this, is because of the left leg directly under the triangle, so when the market breaks below, the market maker might just be looking to create a second leg that will complete the double bottom pattern. I have created a logical trading synopsis, it is fully your choice to read up. Unless you think this is utter gibberish!!!
by Tokoloho
What is Ascending Triangle Pattern?What is an Ascending Triangle Pattern? Ascending Triangle Pattern is a continuation pattern that means when it plays out it will continue the preceding trend. It is created by price moves that allow for an upper horizontal line to be drawn along the swing highs, and a lower rising trendline to be drawn along the swing lows. These two lines form an ascending triangle. Traders here usually watch for breakouts from upper resistance in ascending triangle patterns. How does the Ascending Triangle Pattern work? After the prior uptrend when investors try to book profits it creates a resistance that leads to a high supply zone. But due to the prior uptrend investors are still interested in the asset which leads to picking up in demand slowly, resulting in a rising trendline. Time in this phase is also a crucial element. The longer this pattern consolidates, the more chances it has to give a possible breakout to continue the uptrend. Why is the Ascending Triangle Pattern Unique? Ascending triangle patterns usually have a higher breakout success rate than symmetrical triangle patterns. In an ascending triangle, higher lows are constantly being built, which shows there is a strong demand for the asset. Role of Volume: Volume plays a major role in the completion of all major patterns. The horizontal trendline which acts as resistance can give spikes in volume. We will call it a breakout when a candle closes above horizontal resistance level with a great volume spike or rise in average volume. Above Chart Explanation: This is the 4H chart of FTTUSDT with a clear preceding upward trend. After the uptrend, we enter the second phase where the upper horizontal line becomes resistance 4 times in a row and the lower rising trendline becomes support 3 times in a row. As we have observed here FTTUSDT consolidated for nearly 1 month in an ascending triangle pattern, which finally led to a super bullish breakout. Two Possible Entries: Entry 1: On rising support, when the price touches the rising support trendline and if there is rising average volume, it makes a good entry with a stop loss placed below the previous higher low point. Entry 2: On resistance breakout, we should wait for the 4H candle to close above the resistance to confirm the breakout’s validity. Once the breakout is valid, a potential opportunity would be to enter at the close of the 4H candle with a stop loss placed a little below the breakout level. Usually, we should target the height of the triangle after the breakout. Comment down your thoughts on Ascending Triangle Pattern in the comment section. Disclaimer: This is just an educational post. Never trade just any pattern. And please do your research before making any trades. Happy Trading!
Education
by Coinlog
1
VBL is very close to a good breakoutVarun Beverages (VBL), a stock of FMCG sector has given a weekly closing above 800 for the first time after its split on 10th June 2021. The day high of '810' on Friday coincides with 38.2% golden ratio on Fib levels. Above 811, it can easily give 1-2% targets in intraday. A 15 minute candle closing above 810, ater 9.45 am can be a good buy for a swing trade too. Also, a trendline breakout can be seen even in the momentum indicator (RSI) which gives a double assurance for the breakout.
VLong
by chartistamey
ASCENDING TRIANGLE, IMMINENT BREAKOUTAES CORPORATION : Text book ascending triangle . Ascending triangle patterns usually occur in trends and acts as a continuation pattern. It's defined by a bullish trending move followed by two or more equal highs and a series of higher lows. The pattern is complete when price breaks above the horizontal resistance area. The pattern is considered successful if price extends beyond the breakout point for at least the same distance as the pattern width. Watch for a break of the 29 level with a potential target to 34. Success rate: about 70% Trade safe.
NYSE:AESLong
by Elpidaldo
4
NKLA: Is the Bloodbath Over?From its height of $94 in June of 2020, NKLA has certainly seen a beatdown since then. We've reached NKLA's original levels before the bull run. For NKLA today, $13 is a critical level of resistance. Let's rewind the clock again: we broke through $13 in April of 2020 and bounced off of the same level, which was when our NKLA rocket took off. The same level was tested successfully in December, broke through in April of this year, had a failed retest in the same month, and now we are approaching this level yet again. With an ascending triangle forming (yes, this is my favorite pattern to trade for breakouts), this can see another quick surge to the upside. We have a little room to fill until then, but keep an eye out for one number: $13. Set an alert! It's also worthy to note that on April 22nd, NKLA had a daily volume of 82 million near the $10 mark. NKLA also busted through the 20/50 MA on the 4-hour timeframe and is now hovering above these MA's. Does this mark the end of NKLA's bloodbath?
NASDAQ:NKLALong
by ZaviStocks
1
TRX-USDT( Ascending Triangle)TRON is a distributed blockchain that enables developers to create smart contracts and decentralised applications, freely publish them, own and store data and other contents. On March 27, 2021, TRX has been trading in an Ascending Triangle . It is trading near the resistance, breakout from which may propel the bullish move to new highs . Key Levels to watch out for: If TRX manages to give closing above $0.0675 , it may ignite the rally to the levels of $0.077 followed by $0.087 . The support to the lower side is present at $0.058 .
Long
by TradeDog-Research
2
NIO Ascending Triangle and Wedge UpHey folks, I kept seeing you enjoy my analysis so of course I will do another one and I think it could go even higher than JMIA. Today I was just contemplating over all the news, youtube videos and so on and so forth about NYSE:NIO I don't completely see from where people taken the 150$ target for NIO but...🚀🚀🚀 In all seriousness, we have good elevating factors on the 1HR chart, good support and I seek to break the resistance. In the snapshot you clearly see somewhat of an undeveloped triangle that was showing to take down NIO due to Earnings. Now we have the same baby triangle with resistance and support getting closer until we break it. MACD is showing signs of running up just as it did the last time and I marked down the moves that I am pretty sure we might get that same area but better and get to 63$
NYSE:NIOLong
by RaphaelRusu
2