Get started

Descending Triangle

GOLD → Correction for the purpose of elimination. Target 2400?FX:XAUUSD is forming a correction from the opening despite the bullish closing of the session on Friday. Fundamental background is calm, technical reaction to the false break of 2387. Friday's move was formed on relatively positive economic news for gold - higher unemployment in the U.S. reinforces the dollar sell-off as the chance of a possible U.S. interest rate cut rose slightly. This week traders' focus is on CPI and PPI, which will be released on Thursday and Friday. Technically, there is a buyer's presence in the market. MM, as consolidation and elimination of the buyer forms a correction to the liquidity zone 2364-2355. Possible consolidation or false breakdown before the subsequent growth. Resistance levels: 2387, 2411 Support levels: 2364, 2355 Today, at 14:00 Powell speaks, it is worth paying attention to his speech. High volatility is possible. In general, the fundamental background is favorable, technically, the bull market is forming a correction to support. Emphasis on the bulls. Regards R. Linda!
FX:XAUUSDLong
by RLinda
26
ETH: Potential Bullish Signals on the 1-Hour Chart?Hey everyone! If you're enjoying this analysis, a thumbs up and follow would be greatly appreciated! Ethereum (ETH) is currently showing some interesting signs on the 1-hour timeframe. Let's break down what we're seeing: Possible Double Bottom: The chart suggests a pattern resembling a double bottom, which can be a bullish technical indicator. However, confirmation is needed. Descending Triangle: ETH is also forming a descending triangle pattern. This pattern can indicate a breakout in either direction, so further confirmation is required. Here's what to watch: Breakout: A clean break and close above the neckline of the descending triangle and the double bottom's resistance level would be a bullish signal, potentially leading to a price increase towards $3300 this week. Invalidation: An hourly close below $2840 would weaken the bullish case. What are your thoughts on ETH's current price action? Do you see a bullish pattern? Share your analysis in the comments below!
Long
by CoreCrypto1
1
Netflix Descending Triangle BreakoutThank you everybody for dropping in on this trade idea setup in Netflix. Bullish descending triangle continuation pattern developing here looking like it's about to burst for next week or maybe this Friday as long as the market keeps going up. I want to make sure that I'm getting into these mega cap stocks because that seems to be the only thing that's really on an uptrend and making plays that are multi day uptrends. Another stock I'm looking at is Amazon because it seems to be basing out but I want to wait a little bit until after I get into Netflix before I jump into any other trades since I have a good amount of position size already allocated in my entire portfolio.
NASDAQ:NFLXLong
by PappyTrading
XRP → Rally to 0.730 ↑ The fundamental denouement is comingBINANCE:XRPUSDT is approaching a possible decoupling, both technically and fundamentally. Positive signs of life could lead to a rally, first stop could be around 0.73. On W1, the coin is trying to live, but there is a huge fundamental reason that keeps the price from going beyond resistance and flat: The SEC v. Ripple litigation. The Ripple vs. SEC case is a pivotal moment for cryptocurrency regulation, as a final victory would be a strong green sign for the entire cryptocurrency community amidst the SEC getting a number of restrictions on its activities lately due to overstepping its authority. Ripple's CEO believes that the final verdict could come at the end of the summer. Everyone is counting on a positive outcome for XRP: The court found that Ripple violated federal securities laws by making institutional sales of XRP, but dismissed other charges brought by the SEC. Ripple Labs opposed the SEC's proposal to fine the company nearly $2 billion. Ripple Labs said the court should impose a civil penalty of no more than $10 million Technically: Price continues to test the wedge resistance with the aim of breaking it, volatility decreases and consolidation continues. Below 0.4637 buyers are not letting the price in yet, which may lead to another retest of the resistance, which will only increase the chances of a breakout. Price consolidation above 0.4962 will be the root cause of market character change and possible rally to 0.6265 - 0.73. Support levels: 0.4637 Resistance levels: 0.4962, 0.5720 I expect that the buyers will still be able to break through the resistance of the bearish figure in the near future and ride the rally to the mentioned targets. Regards R. Linda!
Long
by RLinda
57
ADAUSDT → Change of character, are the bulls coming back? ↑ 0.77BINANCE:ADAUSDT forms a change of market character, and also breaks the resistance of the wedge. Regarding the reversal zone on W1 a false breakout is formed. The coin may move into the realization phase. The token is lagging behind the overall capitalization and market movement, still in the consolidation phase, the boundaries of which are 0.2392 (0.4) - 0.777. In the distribution phase, ADA has chances to recover. At the moment we should consider trading inside the range and after confirmation of the formation of an intermediate bottom above 0.4 (consolidation above this zone) the market will define a new range for itself. 0.4 - 0.77. The potential in this case will be the corridor with the width of 93%. Technically, if the bulls hold the price above 0.4, it will be a good signal for the price distribution to 0.52, further to 0.678. Support levels: 3775, 0.400 Resistance levels: 0.42, 0.522 The bearish wedge is a strong technical pattern, capable of turning the market, but in order to start the realization, the bulls need to take the defense above the key zone, in our case it is 0.400. With Respect R. Linda!
Long
by RLinda
8
UNFI → Resistance Retest. Ready for a breakthroughBINANCE:UNFIUSDT is showing positive dynamics amid the red cryptocurrency market. The coin is approaching strong resistance and we have the potential to catch a breakout with subsequent growth. On the weekly timeframe, the coin is still in consolidation (range 16.0 - 2.5). But, against the background of the general neutral trend we have a downward resistance, which is once again being retested. A pre-breakout consolidation is formed against the wedge resistance, due to which an attempt to break the line and further strengthening can be formed. An initial test of resistance may lead to a small bounce, but a quick retest will increase the chances of a breakout. Support levels: 3.281 Resistance levels: 5.716 I expect the formation of a local consolidation with a gradual push to the resistance of the wedge and further breakout. Regards R. Linda!
ULong
by RLinda
13
COTI/USDT READY TO TAKE OFF! ACCUMULATE HERE!!Hey everyone! If you're enjoying this analysis, a thumbs up and follow would be much appreciated! COTI/USDT looks good in the daily chart. According to the chart, it is forming a descending triangle and holding the support of a lower trendline. Accumulate it in the green box. Entry zone:- Buy some at CMP and add more up to $0.082 Targets:- $0.12/$0.146/$0.174/$0.202/$0.238 Invalidation:- Daily close below $0.08 What are your thoughts on COTI's current price action? Share your analysis and questions in the comments below! Thanks!
Long
by CoreCrypto1
1
BITCOIN → Liquidation and retest of support. When is 74K?BINANCE:BTCUSD is not ready to pass through 71500 yet and continues the correction phase, testing local lows and liquidating buyers in order to increase the position of a major player. Consolidation is clearly visible on the higher timeframes. The resistance area of 71500 plays an important role for the market, a breakout and consolidation of the price above this area will mean that the market is ready to go higher than 74K, but, the market has not yet gathered the potential and, therefore, the consolidation continues. Bitcoin is currently in the range of 71500 - 64500. It is worth paying attention to the upward support, marking a bullish trend, and the 64500 area. The bulls will actively defend this area and if they fail, the price will head towards 61500 - 59000, 56400, but the most likely scenario is a false breakdown of 64500 followed by price strengthening to the resistance of the 71500 range. Support levels: 64500, rising line, 61500 Resistance levels: 70000, 71500 The coin continues to consolidate. Sooner or later this phase will move to the phase of realization (distribution), based on the general data it may be growth, but no one excludes dump and retest of lower liquids zones before further growth. Regards R. Linda!
BITSTAMP:BTCUSDLong
by RLinda
67
EURUSD → Readiness for further decline. Target 1.0600FX:EURUSD is in a bearish channel. The price is below the resistance at 1.0725, there is a possibility of retesting the liquidity area before further decline. The fundamental background is weak and the actual target is 1.0606 Globally, the market is neutral-bearish. The lower boundary of the symmetrical triangle on D1 is the actual target (testing the liquidity area). Based on the general situation on H4 it is worth paying attention to such zones as: Resistance: 1.0725 (possible false breakout) Support: 1.069 (breakdown. Consolidation below will activate sell-offs). The market has a potential of about 1.10%. No news today, the fundamental and technical background is still in place. Resistance levels: 1.0725, 1.0812 Support levels: 1.069, 1.0606 On the daily timeframe, last week is closing very poorly, which most likely may hint at a possible continuation of the decline. The key target has not been reached yet, the potential is open. Regards R. Linda!
Short
by RLinda
4
ETHEREUM → Rising to 4000? Positive fundamental background...BINANCE:ETHUSDT may end the correction phase and move into the distribution phase, the target could be 4000-4800. Fundamentally, ethereum is receiving positive signals from regulators. The price is breaking the resistance of the local correction pattern. The coin is trying to go beyond the consolidation range (breaking the bearish wedge resistance). A break of the local high will be a confirmation that the correction is over and the market is ready to move on. Earlier ETH-ETF was approved, the next stage is confirmation of S-1 form (admission to trading), SEC is actively working with issuers, trading may start this summer. Also, a positive sign of a strong market is the end of the SEC's judicial investigation against ConsenSys (Ethereum developer). Volumes are rising and like the price, traders are taking this fact positively. Resistance levels: 3650, 3730 Support levels: 3585, 3480, 3400 The price consolidation above 3650-3730 will confirm the end of the correction. Bulls in this case can take the situation into their own hands after a long accumulation, the target of which may be a test of high, as well as ath. Regards R. Linda!
Long
by RLinda
4
NOT ▵ → Is a rally possible now? Why is 0.020 so important?BINANCE:NOTUSDT breaks the resistance of the descending wedge (bullish set-up) and forms consolidation inside the range 0.0169 - 0.0199. A retest of support or the previously broken pattern boundary before rising is possible. NOT under dump, after a strong rally, has eliminated some traders and may strengthen at the moment after the bulls hold the defense above key support and liquidity zones. The coin is in a consolidation stage after exiting the descending range. The market's transition to the stage of active strengthening and growth may be a breakout and consolidation of the price above 0.0188 - 0.0199. The potential of the coin both technically and fundamentally is quite tempting, but everything depends on the bulls. Resistance levels: 0.0188, 0.0199, 0.023 Support levels: 0.0169, 0.0153 Since the price is inside the range, for an active price action the price must overcome one of the boundaries, the most likely scenario is a retest of the support (false breakdown) before further growth. Regards R. Linda!
Long
by RLinda
13
NOT → "DUMP" and 0.015 or false breakdown and 0.04?BINANCE:NOTUSDT looks strong both fundamentally and technically, but the hourly timeframe is forming the preconditions for a “Dump” of the coin before a possible further rise. Since the opening (not counting the listing day), the coin has strengthened quite strongly without much pullbacks, which has created a rather large imbalance. In addition, there is a clear “Dump” scenario, where first the coin was pumped up to 450% and now it can be dumped in order to collect liquidity at the expense of traders who caught up with the outgoing train. At the moment all the attention is on the area of 0.02-0.0199. There are two possible scenarios regarding the level and everything depends on the market reaction and traders' behavior. Either it will be a breakout and liquidation, or a false breakdown with the subsequent continuation of growth to the liquidity zones. Support levels: 0.0199, 0.185 Resistance levels: 0.023, 0.0253 Volumes, investments are growing, but the coin cannot grow all the time. The market needs energy and whales may eat some buyers in order to form long positions at more favorable prices. We are watching the specified zone of 0.0199. Regards R. Linda!
by RLinda
26
$FTM Bull Case - Multiple TargetsBINANCE:FTMUSDT is looking quite bullish, with a very clean chart and well respected Fibonacci retracement levels. The support is sitting right at 61.8% of the last leg up. (Common reversal level) I think the chart is open to multiple interpretations, each with a different target: Descending Triangle : $1 Also a key psychological level and a previous resistance. Bull Pennant : $1.15 Previous resistance and close to the top from last March. Elliott Wave W3 : $1.3 or $1.62 If $0.76 is the local bottom, it would be a perfect Wave 2 end (61.8% of Wave 1). According to Elliott Wave theory, the Wave 3 target would be either $1.3 (161.8% of W1) or $1.62 (261.8% of W1). $1.3 is also a key support from 2021/2022. $1.62 is also a resistance from 2022. My strategy for this will be: Open a long position after a break above the resistance trendline, with a wide SL Take partial profits at each target Starting from $1.15, move my SL up below the previous target Not Financial Advice
FLong
by AliferCrypto
NZDUSD → Pre-breakdown consolidation. Next, 0.62?OANDA:NZDUSD breaks the bearish trend in early May and confirms the fact that bulls appear on the market. The fundamental background is positive and growth can be considered in the long term. Earlier the price tested a strong descending resistance by a false breakdown. There was no proper reaction in the form of a change of trend or a strong fall. Consolidation is being formed. If the price continues to pull up to the upper boundary of the triangle on D1, the pre-breakout prospect will only intensify. On H1 it is worth paying attention to the range 0.6170 - 0.6083. Anything can happen on the background of the news, so it is worth watching the reakitsa of the ruck to the mentioned borders. A false breakdown of support before further growth is possible. Resistance levels: 0.6170, 0.6217 Support levels: 0.6083, 0.6000 I expect that the trend may get its continuation. The market is extremely calm now, as there is strong news ahead that could determine the medium-term outlook Regards R. Linda!
Long
by RLinda
7
Tesla - Triangle and -33% drop!Hello Traders and Investors, today I will take a look at Tesla . -------- Explanation of my video analysis: With Tesla stock breaking above previous resistance in 2019 and coming back to retest it in 2020, this stock then took off and created one of the most insane rallies which I have ever seen. At the moment though, Tesla is consolidating in a descending triangle formation and there is a high chance that Tesla will again come back to retest the lower support at $110 for a third time. -------- Keep your long term vision, Philip (BasicTrading)
NASDAQ:TSLAShort
by basictradingtv
8