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Symmetrical Triangle

Sell GBPJPY Triangle BreakoutThe GBP/JPY pair presents a potential selling opportunity on the H1 timeframe, fueled by a recent bearish breakout from a triangular consolidation pattern. Key Points: Bullish Triangle Breakout: Though seemingly counterintuitive, the price has broken downward from a bullish triangle formation, characterized by converging resistance and support lines. This often indicates a reversal of the prior upward trend and a shift in momentum towards the downside. Sell Entry: Consider entering a short position around the current price near 187.40, offering an entry point close to the breakout level. Target Levels: Initial bearish targets lie at the support levels of 186.05 and 185.16, marking previous support zones within the triangle. Stop-Loss: To manage risk, place a stop-loss order above the resistance line of the broken triangle at 188.70 Fundamental Updates : Bank of England (BoE) Meeting and Interest Rate Decision (Feb 2): While the BoE is expected to raise rates again, the focus will be on the size (25bps or 50bps) and future policy guidance. Dovish pronouncements could weaken the GBP and benefit selling GBP/JPY. Thank you.
Short
by KABHI_TA_TRADING
8
XRPUSDT → A favorable prospect within the uptrendBINANCE:XRPUSDT is testing trend support after exiting the triangle. Traders' interest in Ripple continues to grow on the unstable fundamental background On W1 we see a formed bottom, the bulls do not let the price to this area, continuing to cumulate the potential within the framework of gradually rising prices. An uptrend continues to form on the chart, but globally, Ripple is squeezed under strong trend resistance. On D1, price is testing support and one of the key liquidity areas. There is a chance that price could still test 0.493 in a false breakout format before further upside, but even at current price positions, the market has good potential for further upside to 0.7325. Support levels: 0.493, 0.420, trend support Resistance levels: 0.585, 0.648, 0.7325 Since the price movement is limited by a number of reasons both fundamentally and technically by the range boundaries, it is highly likely that the XRP movement will continue from support to resistance Regards R. Linda!
Long
by RLinda
16
Sell GBPAUD Triangle BreakoutThe GBP/AUD pair on the H1 chart exhibits a bearish signal suggesting a potential decline in the coming hours. A recent downward breakout from a triangular consolidation pattern could offer a shorting opportunity. Key Points: Triangle Breakout: The price has been confined within a triangle formation, characterized by converging support and resistance lines. This often indicates indecision before a decisive move. However, the recent break below the lower support line at 1.9265 suggests a shift in momentum towards the downside. Sell Entry: Consider entering a short position around the current price near 1.9265, offering an entry point close to the breakout level. Target Levels: Initial bearish targets lie at the support levels of 1.9114 and 1.9027, marking previous support zones within the triangle. Stop-Loss: To manage risk, place a stop-loss order above the resistance 1.9400 Fundamental Updates : Bank of England (BoE) Meeting and Interest Rate Decision (Feb 2): While the BoE is expected to raise rates again, the focus will be on the size (25bps or 50bps) and future policy guidance. Dovish pronouncements could weaken the GBP and support AUD selling against it. Risk-Off Sentiment: A general deterioration in global market sentiment could drive investors towards the safe-haven AUD and put downward pressure on GBP/AUD. Thank you.
Short
by KABHI_TA_TRADING
3
Crude oil 4H Symetrical triangle, breakout of a down channelOn this 4H chart for Crude oil you can notice that the price has been moving in a very obvious down trend channel for a while. Recently the price broke out of it and started consolidating above the down tren resistance ( now a support ). In the proces the price formed a symetrical triangle. It is important to observe this triangle in the following hours as it can provide a breakout. Usually, when having a symetriacal triangle, it's better for the pattern to break in the direction of the movement that lead into it. If you observe the first green line, you will notice that this was an increase. If the pattern produces a Buy entry, this will also align with the breakout from this down trend channel. If the price starts increasing, it can encounter the first resistance around 75.80 - 76, this is the current major high point. If the price manages to surpass it, this will create a new bullish market structure and it can set the for a new bullish trend. The price can also correct from it. If it does, it can retrace to around 73 - 74 before getting the chance to bounce to the up side again. The development in the following days will be important not only for this setup, but possibly for the next 2 - 3 weeks. If the price breaks above the 76, the new bullish market structure can send it on an up trend. If the price breaks bellow the triangle and it goes back in the channel, then it can continue on a down trend.
TVC:USOILLong
by RTED_Investing
Symmetrical Triangle on WTI @ D1This daily chart of the WTI crude oil (spot) demonstrates a symmetrical triangle pattern. I will use it for a trend continuation breakout setup. My potential entry is marked with the cyan line, which is located at 10% of the triangle's base width below the lower border. My take-profit will be at the green line, which is located at 100% of the triangle's base width below the lower border. I will set my stop-loss to the triangle's upper point (79.771). I will ignore bullish breakouts from this chart formation.
BLACKBULL:WTIShort
by AndriyMoraru
Symmetrical Triangle on NZD/JPY @ H4As you can see, the long-term upward trend in NZD/JPY has consolidated into a symmetrical triangle pattern on the H4 chart. I will use this formation for a trend-continuation breakout setup. My potential entry is marked with the cyan line, which is located at 10% of the triangle's base width above the upper border. My take-profit will be at the green line, which is located at 100% of the triangle's base width above the upper border. I will set my stop-loss to the triangle's lower point (90.348). I will ignore downside breakouts from this trend-continuation pattern.
Long
by AndriyMoraru
ETH vs BTC Technical analysisIs it better to hold Ethereum or Bitcoin? If you are interested in such question, you probably want to see the ETHBTC chart. My analysis is on the weekly chart. What we can see is that the ETHBTC formed a WXY Elliott Wave corrective pattern with a 1:1 FIB extension. If this pattern confirms, ETHBTC could reach a new high and pump massively. But the price is still below the main trendline and below the main horizontal line. I recommend waiting for these 2 lines to break to confirm the bullish bias. Otherwise on the weekly chart price makes lower lows and lower highs, which is a sign of a downtrend. Also, what we need to consider is this local expanding triangular formation. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
by Xanrox
5
GOLD → How will the news affect the price?FOREXCOM:XAUUSD is updating a low of 2001.9 and forming a correction in a phase of waiting for news to be released at 13:30 GMT. At 13:30 Initial Jobless Claims will be published - analysts expect that the index may show worse data than in the previous period, and also, it is worth paying attention to Bostic's comments (FOMC), who will speak three times today: 12:30, 16:30, 17:05. The FOMC representatives have been making a lot of speeches this week. Technically, gold is forming a correction and consolidation in a low-volatility format, which may last until the news is released. It is impossible to determine the data in advance, but there are assumptions that the dollar index will continue its growth, in which case, gold may continue to fall after a retest of resistance. The moving averages indicate the continuation of the bearish trend. Resistance levels: 2013.7, 2016.8, 2025 Support levels: 2004.5, 1994.7, 1976.2 Technically, gold is in a downtrend and on the backdrop of the news may test resistance to capture liquidity before further declines TVC:DXY COMEX:GC1! COMEX_MINI:MGC1! Regards R. linda!
OANDA:XAUUSDShort
by RLinda
5
Beam, consolidation is coming to the end, buy now (151% profit)Beam Rank #69 is a very good-looking coin from a technical perspective. We had a strong pump of 500% In November 2023. Now the price is going sideways, but it is time for another pump. It's good to buy this coin right now, as it can skyrocket anytime soon. We have a strong Elliott Wave combo Impulse + ABC correction. 1.618 FIB extension is the next profit target, but I believe we will go much higher than that! Make sure you buy the right BEAM coin, as there are 2 with the same name. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades. Beam allows financial counterparties to make safe, stable and reliable transactions. This helps eliminate the problem of user data mismanagement, keeping the system cleaner and more secure. Beam’s blockchain was built on the C++ programming language from scratch. User addresses are kept confidential at all times and are never disclosed to any third parties. Users have total access and control over their privacy, deciding who can access their information and what they are allowed to see. Beam supports custom transactions of different types, such as escrow, atomic swaps and time-locked ones. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
Long
by Xanrox
4
Symmetrical Triangle for a Long positionUSDCAD opened with Lower high and gave a big bearish candle on first day of the week, I was looking at different time frames and saw a symmetrical pattern on the one minute time frame (Using 15 minute to publish, analysis on 1 minute time frame), though I do not recommend using the one minute time frame at the opening but it was a sure bullish move that was coming. Took the trade with a small stop loss and TP at the size of the length of the triangle base, just above the slope of lower high and made a small profit to start the week. Where is USD moving in the coming week, what are the different factors that will effect its move? comment and share your experience.!! Cheers
Long
by KunalGaur10
Gold at a crossroad, 200 USD+ move, massive symmetrical triangleThis is a Daily chart for Gold. On it we can notice that the price has formed a massive symmetrical triangle. As per the deffinition of the pattern, after the price produces a breakout up or down, the potential movement can be equivalent to the distance between the highest and the lowest points in the pattern. This is about 215 USD movement If the price breaks to the up side, according to the pattern, it can reach levels of about 2250 - 2270. If it breaks down then it can drop close to the 1800 level Additional confluence: - On the daily chart, the price has been showing a lot of respect towards the 50 EMA. On the latest drop it hit it and bounced straight up from it. On the 4H chart, the situation is similar with the 200 EMA
FOREXCOM:XAUUSD
by RTED_Investing
BTC: Neutral-Symmetrical triangle- SEC news waiting The SEC must give its response before Wednesday January 10, but the news may break before! Pay attention to the news. SYMMETRICAL TRIANGLE detected! 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).
BITSTAMP:BTCUSD
by Le-Loup-de-Zurich
1
Symmetrical Triangle on EUR/CHF @ H4The 4-hour chart of EUR/CHF is showing a a symmetrical triangle pattern. It can be used for a trend continuation breakout setup. My potential entry is marked with the cyan line, which is located at 10% of the triangle's base width below the lower border. My take-profit will be at the green line, which is located at 100% of the triangle's base width below the lower border. I will set my stop-loss to the triangle's upper angle (0.93490). I will ignore bullish breakouts from this trend-continuation formation.
Short
by AndriyMoraru
1
KSL | Wave Projection | Triangle ABCDE Wave SetupPrice action and chart pattern trading setup > A possible uptrend scenario with ABCDE symmetrical triangle major wave 4 ending E - wave position, just above SMMA200/100/50 week making its way up to the triangle resistance wave D. > Target: Wave projection target breakout triangle resistance from position E-wave as TP1 +30% upside > Stoploss: E-Wave position -8% - 10% > Risk reward ratio: 3:1 Indicator: > RSI weekly: bullish signal crossed up MA line above 50. > MACD weekly: golden crossing signal line slightly below zero. Company financial with ongoing outstanding performance +YOY and +QOQ for 3 consecutive years and quarters.
SET:KSLLong
by dukeposh