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Expandingtriangle

Breakdown from Expanding TriangleFor MDB the structure is called an expanding triangle, its bearish with huge volatile swings. There is enough evidence to assume a break below 224.75 (blue box) will initiate a selloff to at least the yellow box (189-203 range) by next Friday 4/28. From that momentum it could complete downside target (red box) to as low as 175 before bouncing in early May. However, my point target is 189 - if it holds there, probably a good place to take profits because it will need to test low 200s for rejection before continuing down to 170s. There has been distribution since Feb. going into the expanding triangle - very volatile here but very tradable.
NASDAQ:MDBShort
by JerryManders
1
BTC: Same patterns repeatingHello Traders! Welcome back to another post with analyst Aadil1000x. Today we can see the patterns are repeating and in both cases, the patterns are forming after the breakout of expanding triangle patterns. The previous pattern was expanding triangle; if we look whole accumulation period, you will see it is also an expanding triangle pattern. The market is in a correction phase and soon there will be a breakout of this correction. After the breakout, there will be some reversal pattern and it will be time to jump in for buys. This bullish run will break the resistance at 24K and after that, there will be a nice drop. Don't forget to hit the like button and follow to stay connected.
Long
by Aadil1000x
Apple is near key levelsFirst of all, forgive me to draw so much in this chart but AAPL is on fire and we've to take a close look to price movements because we could see awesome opportunities soon. We all know AAPL, amazing business, great margins but now suffering some issues with production that can lead to some volatility. In this chart, you can see: 1. A very big historical bullish channel in grey that give us resistance prices in the 100-110$ level. 2. An amazing expanding triangle unfolding with potential price objective at 100-110$ zone. Take care, I'll explain further this price formation and why it could end at 120 or 115$ the movement. 3. The RED danger zone explained in the idea of few days ago. The break of this support led to -7% returns by now. 4. The small downtrend blue line that was our previous idea. We expected a bullish break that never happened, instead we've seen the break of the danger zone support, so our mind is bearish since then in AAPL. (Please see previous idea to understand this in detail). 5. Some blue lines that are major resistances, the lowest one in the 105-110$ zone. Note that this is also the expected zone of 1 and 2. Expanding triangle explanation An expanding triangle is a chart pattern that occurs in a trend and is characterized by a series of higher lows and lower highs. This pattern is formed by two trendlines that converge towards each other as the price moves in a wide range. The upper trendline represents resistance and the lower trendline represents support. As the price approaches the apex of the triangle, it becomes increasingly volatile, and a breakout is likely to occur. If the price breaks out to the upside, it is a bullish sign and may indicate that the trend will continue higher. If the price breaks out to the downside, it is a bearish sign and may indicate that the trend will reverse. The consequences of an expanding triangle in the market depend on the direction of the breakout and the strength of the trend leading up to the pattern. If the breakout is strong and the trend is bullish, it may lead to further price increases. If the breakout is weak and the trend is bearish, it may lead to a reversal or consolidation in the price. By now, we see a wave 3 which is 1,618 times the first wave. We expect a wave 5 which could be 1,618 times the wave 3, this would move the price to 110$, again this zone... Take care, by now wave 5 is slightly more than 100% of wave 3, so the triangle could end at any time, but for us makes sense to wait for lower prices to have a better risk reward ratio. Ahead we have 120$ and 115$ levels which are also important previous supports and resistances and could lead to some bounces or eventually to the end of the pattern. Let's keep watching! Worst case If the price loses the 105$ level, we have no historical volume until 80$ so a crash could happen easily. Anyway, the 105-110$ zone is strong enough to believe that demand will appear there and the expanding triangle could then be confirmed.
NASDAQ:AAPLLong
by TopChartPatterns
1
Bobby's homework assignment12. 30. 22This will be introduction to expanding triangles.In a way, to my way of thinking, there are 3 kinds of markets: Trending markets, ranging markets, and expanding triangles. Sometimes expanding markets are elusive, but it helps you to know about them. You can still make money and manage your trades...Not knowing. In an expanding market, especially because they're not obvious until later in their evolution. That is not all bad because this kind of pattern really shows Its expansion later in the process. You are still going to look at your gaps, and your extensions, and your retracements, and your support resistance lines... so it's not like you're Trading Stark naked... your tools will give you cover. In a way expanding triangles are a complex reversal... with the biggest move at the end. I think you'll find that it is very easy to get blindsided and miss these patterns...but it is helpful to become aware that A market that is making new lows and new highs... it's not necessarily chaotic and Untradeable... it is a specific type of organized pattern. I need to apologize in that I digress a little bit looking at other tools that I use, is that me complicate the video. However, the tools that I use in the way I process the market, helps me manage and trade the market even when I haven't factored in a significant pattern such as an expanding triangle. In other words, the normal things that I do still protect me...Even when it hasn't quite register with me that I'm trading through an expanding triangle. You really want to know that you're in it expanding triangle before completely plays out>>>>Better late than never.
NYMEX:CL1!
by ScottBogatin
SPX- surprise Rally aheadThe 5 th wave fall on 3rd Nov'22 had not moved down the index significantly. hence we must recall the wave count that ,the correction (5 wave downfall ) is completed in the form of a neutral triangle abcde. Provided the low of 3rd Nov'22 (3698) respected(should not break). If this is so, until 11th Nov, all 5 waves of Expanding triangle A,B,C,D,E has been completed, and a new recovery wave ABC (3 waves)will start. This may begin with a santa claus rally from 14th Nov'22
SP:SPXLong
by selvamB
3
ALGOUSDT | Wave Projection | 4.4 Wave Expanding DiagonalPrice action and chart pattern trading setup > A possible uptrend 4 wave with expanding triangle pattern ABCDE > Target take profit zone at 4.4-wave @ 0.382 - 0.5 retracement zone of previous wave 4.2-wave > The final downtrend 5 wave zone could be projected at 0.5 - 0.618 retracement zone between the recent lowest zone and original major 2-wave - dump & pump pattern is expected. > Indicator: MACD squeezed and gold cross the baseline with wider uptrend ribbon, most likely to continue rising for now. Always trade with affordable risk and respect your stoploss - nothing is 100%
Long
by dukeposh
Biden's presidency expanding triangle - BULL/BEAR super cycle Expanding triangle (wedge) has been forming ... this structure could be lasting several years MAJOR dips and runs on the way - ATH and big BEAR recession magically - Santa coming every Christmas and y/y returns are mostly pretty positive - most of years +10% deepest levels expecting in the mid of 2024 for a major V-recovery run to finish Biden's presidency in 45-60% overall positive result we could call this super cycle as a "creative economy" cycle due to y/y results despite several major LOWS - major dips are in the mid year "sell in May"
OANDA:NAS100USD
by Gotmar
1
Amidst The World's Greatest Beauties Are Its RuinsULTA has been dodging fate for too long, anytime its indicated shorting opp. in 2022 it somehow finds new legs and treads higher. In my charts I use colors in accordance with their interpretation, so I didn't mean to paint this red it just only warranted red drawings, glamour stain tears goes with the pearls.. anyway: - Nasty expanding triangle with Distribution, earnings as a catalyst to finally tank this (it needs a healthy pullback to continue growth over the years, good company, ugly chart) - Bearish Harmonic more noticeable on the daily that indicates potential for pre-earnings run up to low 400s (around 410-413).. This would be ideal entry point for short position, looking at December puts - Very similar setup to ULTA earnings in August 2019 (if you aren't familiar with its chart here is what happened: gap down from 330 to 230 on Earnings miss; this has seasonality based on the business and August report generally under-performs, especially when at reversal point w.r.t. chart structure, such as currently) Expectations: * Gap down following Earnings August 25th to the 295-330 range, followed by dead-cat bounce and continued downside ** Minimum Downside target by December 2022 is 223 *** If things get nasty it could get hit to 67 but I wouldn't bank on this because it will squeeze at some point after 223 #NFA
NASDAQ:ULTAShort
by JerryManders
1