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Descending Triangle

GOLD → Retest of a previously broken level. Panic zone FOREXCOM:XAUUSD is testing local levels in the correction phase and heading towards descending triangle resistance. There are several strong levels crossing in the area of 2035-2037. What to expect from the price? The price is in the correction phase testing the symmetrical triangle resistance as well as the previously broken ascending support line. Technically, gold is in a stalemate situation, as well as in the selling zone. The crossing area of strong levels is at 2035-2040. Most likely, before a possible further fall, the price may test 2035-2040 with a false breakout. But, there is news ahead and we should not forget about their nature of unpredictability. Resistance levels: 2035, 2037, 2040 Support levels: 2030, 2020, 2016 Fundamentally, gold is weaker against the dollar. Technically, we have no trend, only flat. There is news ahead and on the background of the news, I expect that the price may continue to fall after the correction phase. Targets remain the same TVC:GOLD COMEX:GC1! COMEX_MINI:MGC1! TVC:DXY Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
14
USDJPY - The currency pair is preparing to make a new high FX:USDJPY is technically poised to hit a multi-month high. Against the backdrop of a strong dollar, the JPY is losing ground as the Central Bank of Japan is failing or is not going to do its job. On D1 we see a global setup, where the fact that the market wants to break through 150.286 - 151.944 becomes quite obvious. Regarding the lower boundary - 150.286, a pre-breakout consolidation is formed and the market is preparing to overcome the boundary. On H4 the pair is testing the trend support, but at the same time it is forming a wedge on the base of the descending resistance. A local bullish setup is forming on the chart. A break of the pattern resistance could form an impulse to 151.85 and further to 153. Support levels: 149.5, 148.8 Resistance levels: 151.85, 153.0 I expect growth after the end of consolidation formation. The signal for the growth continuation will be the breakthrough of the " descending wedge " pattern resistance. Regards R. Linda!
Long
by RLinda
7
🇬🇧 GBPUSD 🇺🇸 - Strong resistance and pressure from sellersGBPUSD may lose ground amid the weakness of the British market against the dollar. The dollar index is strengthening amid more positive news this week than analysts expected, moreover, another indicator of tight policy is the high interest rate in the US, which continues to be kept at the same level. Reasons for a possible fall 1) Downtrend 2) Weak fundamental background for GBP 3) Growth of the dollar index in the medium term 4) No potential for resistance breakout. High chance of a bounce or false breakout
Short
by AndeWave
2
follow-up of a descending triangle formation on an index In NSE:BANKNIFTY there is failure of descending triangle pattern. When a descending triangle fails, it often leads to a sudden reversal or consolidation rather than a continuation of the prior downtrend. This reversal could result in a period of sideways movement or even a bullish breakout if buying pressure persists. A sustained rally above the upper trendline of the triangle could indicate a shift in momentum and potential bullish continuation. On the other hand, if the index fails to maintain upward momentum and returns to test the lower boundary of the triangle, it might indicate renewed selling pressure and a potential breakdown. Traders should always employ proper risk management techniques, such as setting stop-loss orders, to mitigate losses in case of pattern failures or unexpected market movements.
NSE:BANKNIFTYLong
by VanshikaUdeshi
DESCENDING TRIANGLE: BANK NIFTYA descending triangle is a bearish continuation pattern characterized by a series of lower highs (forming the upper trendline) and relatively equal lows (forming the horizontal support line). Traders often look for a breakdown below the support level as an indication of further downward movement. Traders SHOULD wait for a clear breakdown below the horizontal support line to confirm the pattern. Confirmation is important to avoid false breakouts, as sometimes the price can temporarily breach the support level but then rebound back into the pattern. Profitable Opportunities from Failure: The failure of a descending triangle pattern can present profitable opportunities, especially for traders who anticipate such reversals. If the price fails to sustain below the support level and starts to move back into the triangle, it could trigger a short squeeze or a reversal in sentiment. Traders can look for entry opportunities on the retest of the support-turned-resistance level or on bullish reversal patterns like bullish engulfing candles or double bottoms.
NSE:BANKNIFTYShort
by VanshikaUdeshi
GTCUSDT → Resistance Retest. Preparation before the breakthroughBINANCE:GTCUSDT is testing the trend and consolidation resistance and apparently has a chance to break through this boundary. The coin is forming a bottom at 0.300, after which the consolidation phase continues, but at the same time, relative to the trend resistance the coin is forming a pre-breakout consolidation. Growing capitalization of altcoins, green cryptocurrency market favorably affect GTC, which can provoke a breakout of the mentioned resistance area. The break of 1.344 level and price consolidation above this zone will form a bullish potential, which may trigger a bullish distribution after consolidation. Resistance levels: 1.344, 1.650, 1.915 Support levels: 1.210, 1.060 I expect that the pre-breakout consolidation will favor the breakout of resistance and the price will eventually start to change the bearish trend BINANCE:BTCUSD CRYPTOCAP:TOTAL CRYPTOCAP:TOTAL2 Regards R. Linda!
Long
by RLinda
3
ETC is pumping. Here is why and where to take profitETC is pumping, as we can see. I want to inform you that this uptrend should continue, and another 128% is likely in the next few days / weeks. Take profit at the 0.618 FIB, which is always a strong resistance. If you think ETC is going to go much higher, you can take profit at the previous major swing high. But to me, ETC is bullish, and the downtrend has ended. We see that we had a pretty long accumulation phase by whales as well. 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! Ethereum Classic (ETC) is a hard fork of Ethereum (ETH) that launched in July 2016. Its main function is as a smart contract network, with the ability to host and support decentralized applications (DApps). Its native token is ETC. Since its launch, Ethereum Classic has sought to differentiate itself from Ethereum, with the two networks’ technical roadmap diverging further and further from each other with time. Ethereum Classic first set out to preserve the integrity of the existing Ethereum blockchain after a major hacking event led to the theft of 3.6 million ETH. 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
12
Sell GBPCHF Bearish ChannelThe GBP/CHF pair on the M30 timeframe exhibits a bearish channel pattern, suggesting a potential selling opportunity in the coming minutes or hours. Let's delve deeper into the details: Key Points: Bearish Channel: The price has been trading within a downward-sloping channel defined by two converging lines: a falling resistance line and a falling support line. This pattern often indicates ongoing selling pressure and the potential for further decline. Sell Entry: Consider entering a short position around the current price of 1.0940, which is close to the channel resistance. This could offer an entry point near a potential reversal point. Target Levels: Initial bearish targets lie at the support levels of 1.0892 and 1.0867, marking previous support zones within the channel. Stop-Loss: To manage risk, place a stop-loss order above the channel resistance line at 1.0965. This helps limit potential losses if the downtrend breaks unexpectedly. Fundamental Updates : UK Bank of England (BoE) meeting minutes: Due for release later today, these minutes could shed light on the central bank's future monetary policy stance. Hawkish signals might boost the Pound, while dovish ones could weaken it. Swiss National Bank (SNB) Chairman Thomas Jordan's speech: Scheduled for tomorrow, February 2nd, any comments about potential interventions or the economic outlook could impact CHF sentiment. Thank you
Short
by KABHI_TA_TRADING
14
Sell EURNZD Bearish ChannelEUR/NZD M30 Bearish Channel: Prepare for Potential Selling Opportunities The EUR/NZD pair on the M30 timeframe presents a potential selling opportunity due to a well-defined bearish channel pattern. This pattern suggests ongoing downward momentum and a higher likelihood of further declines in the coming minutes or hours. Key Points: Bearish Channel: As illustrated in the image below, the price has been trading within a descending channel, characterized by two converging lines: a falling resistance line and a falling support line. This ongoing downtrend signals continued selling pressure. Sell Entry: Consider entering a short position around the current price of 1.7691, which sits close to the channel resistance, potentially offering a favorable entry point near a potential reversal point. Target Levels: Initial bearish targets lie at the support levels of 1.7562 and 1.7487, marking previous support zones within the channel. Stop-Loss: To manage risk, place a stop-loss order above the channel resistance line at 1.7750. This helps limit potential losses if the downtrend breaks unexpectedly. Thank yuou
Short
by KABHI_TA_TRADING
2
Btc Correction still here We're still in the middle of this fall oput from the descending Triangle The Price Target for that Decscending Triangle Landing on the 200 day moving average seems to be to coincidental to not play out. With technical analysis i like to see my indicators and charting patterns play into each other so i feel i'm reading a story and right now btc say's the bulls are exhausted after trucking from 15,000. They're still here, as the fight is strong. We should expect to touch the 200 day moving average line and bounce right back into going to previous all time highs. We've been patient as btc was the same price we're at right now 2 years ago which is a good indication we're about to start having some price action. Hang in there guys the red isn't over yet but when it is we're gonna see some real price movement!
COINBASE:BTCUSDShort
by Tracking_Technicals
SOLUSD Bearish chart patternCOINBASE:SOLUSD 📉 Solana Analysis: Descending Triangle Alert! 🚨💔 Hey Solana traders! 🌐📉 Ready for a deep dive into the charts? Let's unravel the current Solana scenario. 🕵️‍♂️💹 📉 Descending Triangle: 🐻 Brace yourselves – we're in a descending triangle, a bearish chart pattern signaling potential downward pressure. 📉🔻 🧐 Bollinger Band Indicator: Trending below the middle Bollinger Band, a bearish signal that could suggest further downside. 📊📉 🎯 Fibonacci Analysis: Fibonacci doesn't lie! A potential price target of $62 is on the radar, with rejections in the golden pocket indicating a crucial resistance zone. 🎯💰 📉 200-Day EMA: Eyes on the 200-Day Exponential Moving Average (EMA) – a key indicator that could influence the overall trend. 📉📈 🤔 What's Next?: As we navigate these chart patterns, share your thoughts! What's your take on Solana's potential moves? Let's discuss strategies and insights. 💬🚀 Remember, this isn't financial advice – just chart analysis in the crypto jungle. 🌐🔍 Comment below with your Solana predictions and let's trade smart! 🚀📈 #SolanaAnalysis #CryptoCharts
BINANCE:SOLUSDShort
by MasterChef23
2
DOGE can crash by a 64%. Here is whyDoge can crash by a 64%. Why? Because we have a descending triangle on the weekly chart, which is a bearish pattern. Also, how much % profit DOGE made in 2023? 0%. DOGE is going sideways. Do not get me wrong, I believe in future on DOGE, but investors are disappointed compared to other coins. I think we can buy cheap doge in 2024 / 2025. Then to the moon. 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! Dogecoin differs from Bitcoin's proof-of-work protocol in several ways, one of which is by using Scrypt technology. The altcoin has also a block time of 1 minute, and the total supply is uncapped, which means that there is no limit to the number of Dogecoin that can be mined. You can mine Dogecoin either solo, or by joining a mining pool. A Doge miner can mine the digital currency on Windows, Mac or Linux, and with a GPU. As of 2014, you can also mine Litecoin in the same process of mining Dogecoin, as the processes were merged. 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!
Short
by Xanrox
15
CHARTIST TRIANGLES: HOW DOES IT WORK? ANSWER is HERE!ASCENDING TRIANGLE: Identify the levels where the price has often closed and opened (black line). The price is making higher and higher lows. Draw a bullish diagonal. Take Profit is calculated by plotting the lowest increase on the black line (see graph). Report this segment to the BREAK of the black line, but ESPECIALLY to the CLOSING of the candle in its time unit!!! ___________________________________________________ DESCENDING TRIANGLE: Identify the levels where the price has often closed and opened (black line). The price makes higher and lower highs. Draw a bullish diagonal. Take Profit is calculated by plotting the highest drop on the black line (see graph). Report this segment to the BREAK of the black line, but ESPECIALLY to the CLOSING of the candle in its time unit!!! ___________________________________________________ SYMMETRICAL TRIANGLE: The triangle of indecision, just like the RANGE!! The price is tightening, and we don't know in which direction it's going PETER!!?? Draw a bullish and bearish diagonal. Wait for a break in one of the diagonals. The Take Profit is calculated by reporting the highest side of the rectangle which made a PULLBACK (see my old publication on "PULLBACK") and see graph below. Report this segment to the BREAK of one of the diagonals, but ESPECIALLY to the CLOSING of the candle in its time unit!!! STOP Loss below the previous low if you are BUYING. STOP Loss above the previous high if you are SHORT (Seller). ​
Education
by Le-Loup-de-Zurich
KAVAUSDT → A break of resistance will give a 60% increaseBINANCE:KAVAUSDT is overcoming trend resistance, which could give a potential rise of several tens of percent in the mid-term Against the backdrop of rising COINBASE:BTCUSD , which is overcoming the key 4-week resistance KAVA and the altcoin market shows good potential. The only nuance is that KAVA is lagging the market and continues to consolidate. An important nuance that will stimulate strong growth is a break of 1.140 resistance. This level is the upper boundary of the 12-measures consolidation. After breaking this resistance, the market will have a potential target of 1.550 and 1.800. But before that we have another resistance - the upper boundary of the wedge. Consolidation of the price above 0.950 will form the potential to buy and hold the trade up to 1.140. Support levels: 0.950, 0.870, 0.770 Resistance levels: 1.025, 1.140 I expect consolidation of the price above 0.954 and growth to 1.140. Further I will wait for the breakthrough of 1.140 and growth to the specified targets. Regards R. Linda!
Long
by RLinda
3
THETAUSDT - The attempt to change the trend is doomed to successBINANCE:THETAUSDT is forming another resistance retest and in fact it can be considered an attempt to change the bearish trend. The chance of success is quite high as several key patterns are forming. On the high timeframe, the coin finds a clear bottom and the triple touch pattern confirms the area. But the price still has a long way to go for a trend change, as breaking the local downside resistance is still not enough, THETA must overcome the 1.717 area to confirm a definitive trend change. On D1, a descending wedge is forming on the background of the bearish channel, the breakout of which forms a rally to the trend resistance, where a pre-breakout consolidation in the format of an ascending triangle is turning. The strength of this consolidation is enough to break the resistance area and the level of 1.190, which will confirm the breakout and may form an impulse to 1.337 and 1.700. SMAs are forming an interesting signal. Support levels: 0.982 Resistance levels: trend resistance, pattern resistance, 1.190. I expect a breakout of the above zone with the subsequent formation of an upward impulse. Regards R. Linda!
Long
by RLinda
6