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Symmetrical Triangle

Symmetrical Triangle on USD/CAD @ D1This daily chart USD/CAD formation resembles 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 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 corner (1.36292). Bearish breakouts from this formation are to be ignored.
Long
by AndriyMoraru
4
GOLD → The market is ready to continue to growOANDA:XAUUSD is standing still on Thursday, which we were prepared for. The TVC:DXY opens with a subsequent decline on Friday, which gives bullish hopes for GOLD to strengthen. Let's breakdown: On the local timeframe, the prolonged consolidation is forming a symmetrical triangle, but as a strong support area is forming below the pattern and the price is consolidating above the key liquidity zones, the market may try to realize a bullish scenario. This will be facilitated by a break of the triangle resistance, in which case our target will be 2005 and 2010. Also, due to the fact that the price did not test the liquidity area below 1993, 1984, we have a chance to start another correction before further growth. On D1 gold is in a range and since support was tested earlier, resistance is still our prospect. The target is the upper boundary of the range - the area of 2010. Key support: 1993-1992, 1990, 1984 Key resistance: 1998, 2005, 2010 I expect a break of the pattern resistance with further growth to these targets, but since a large liquidity area was formed below the support, the market may test this area before further growth. Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
11
RateGain Assending Triangle Breakout Rate Gain: Support: 425 Resistance: 455 In trading, a triangle breakout refers to a technical analysis pattern where the price of an asset breaks out of a triangular consolidation phase. Triangles are chart patterns formed by converging trendlines that indicate a period of decreasing price volatility as the asset's price moves within a contracting range. When the price eventually breaks out of this pattern, it can signal a significant move in one direction, providing valuable information to traders and investors. Here are the key significances of a triangle breakout in trading: 1. **Potential Trend Reversal or Continuation:** Triangle breakouts can indicate either a potential reversal of the current trend or a continuation of the existing trend. A breakout to the upside suggests a bullish continuation, while a breakout to the downside suggests a bearish continuation. However, it's essential to consider the context of the triangle in the larger price trend of the asset. 2. **Timing Market Entry:** Traders often use triangle breakouts to time their entry into a trade. Once a clear breakout occurs and is confirmed (usually by significant volume and price movement beyond the breakout point), traders may take positions in the direction of the breakout. This can help them catch a substantial portion of the ensuing price move. 3. **Price Targets:** Traders can use the height of the triangle to estimate a potential price target for the asset after the breakout. By measuring the distance between the highest and lowest points of the triangle and adding that distance to the breakout point (for an upside breakout) or subtracting it (for a downside breakout), they can get a rough target for the price move. 4. **Confirmation of Market Sentiment:** A triangle breakout can act as a confirmation of the prevailing market sentiment. If the asset was trading in a tight range, the breakout can show that market participants have made a decisive move in one direction, indicating their confidence in that trend. 5. **Volume Confirmation:** For a triangle breakout to be more reliable, it is essential to have a noticeable increase in trading volume accompanying the breakout. High trading volume during the breakout suggests stronger conviction among market participants, increasing the chances of the breakout leading to a meaningful price move. 6. **Reduced Uncertainty:** Triangles form during periods of uncertainty and indecision in the market. A breakout from the pattern resolves this uncertainty, providing traders with more clarity on the future direction of the asset's price. 7. **Trading Opportunities:** Triangles are common chart patterns and can be found across various time frames. Traders who specialize in chart pattern trading often actively seek these setups as they present potential trading opportunities with well-defined entry and exit points. It's important to note that while triangle breakouts can be powerful signals, they are not foolproof. False breakouts can occur, where the price briefly moves beyond the triangle but then quickly reverses back into the pattern. To mitigate the risk of false signals, traders often use additional technical indicators and analysis to confirm the validity of the breakout before making trading decisions. Additionally, no trading strategy guarantees profits, so risk management and discipline are crucial when implementing triangle breakout trades or any other trading strategies. ⚠️ ⚠️⚠️It's My Study⚠️⚠️⚠️ Before taking any trade Please do your own research and analysis. Disclaimer: 📌I am not a SEBI registered research analyst. Stock market tradings are subject to market risk. 📌I will NOT be Responsible for your PROFIT or LOSS. 📌Please consult your financial advisor before taking any positions.
NSE:RATEGAINLong
by SuperChartz
7
#USDCAD buying opportunity As seen in the chart, we have a symmetrical triangle chart pattern formation on the 4-hour timeframe, suggesting that the price may move higher to test a bearish trendline associated with the chart pattern. Simultaneously, in the lower timeframe, the price is forming a bearish corrective move after a prior bullish impulse on this pair. The price has been unsuccessful in breaking below the support. If the price manages to break the bearish trendline in the lower timeframe, we could anticipate a follow-through, with the price moving at least towards the trendline. From that point, we can evaluate the potential for the next price move. If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
Long
by mohemati
1
Solana nearing the precipice of a breakout?We can see that solusd’s price action is now retesting the top trendline of this purple symmetrical triangle it has been in since around august of 2023. Obviously it only matters once we break above this trendline and flip that trendline to solidified support. Until that time one must remain levelheaded and not chase any breakout that is unconfirmed. If it were to trigger a breakout sometime within the next few days the target would be around $50 or slightly higher. The top trendline of this triangle also qualifies as an inverse head and shoulders neckline. We can also see that the measured move target for the breakout from the descending tan channel is above this neckline which increases the probability we will trigger the breakout of the purple triangle on the way up to hit the measured move target of the tan descending channel breakout. *not financial advice*
COINBASE:SOLUSD
by DrDovetail
OXT/USDT TRADE SETUP!!Hello everyone, if you like the idea, do not forget to support it with a like and follow. Welcome to this OXT/USDT Trade setup. OXT looks good here. Breaks out from the symmetrical triangle. Currently, retesting the trendline. Long some here and add more in the dip. Entry range:- $0.073-$0.076 Target1:- $0.086 Target2:- $0.098 Target3:- $0.112 Target4:- $0.134 SL:- $0.070 Buy on the spot or use low leverage. If you like this idea then do support it with like and follow. Thank You!
Long
by CoreCrypto1
ORBS/USDT TRADE SETUP!!Hello everyone, if you like the idea, do not forget to support it with a like and follow. Welcome to this ORBS/USDT Trade setup. ORBS looks good here. Breaks out from the symmetrical triangle and also the cup and handle-like structure. Currently, retesting the neckline. Long some here and add more in the dip. Entry range:- $0.04370-$0.04470 Target1:- $0.049 Target2:- $0.058 Target3:- $0.064 Target4:- $0.070 SL:- $0.041 Buy on the spot or use low-leverage If you like this idea then do support it with like and follow. Thank You!
OLong
by CoreCrypto1
2
BLS International - Looks Good!The price has recently broken out to the upside after a period of consolidation, indicating that the prior upward trend is likely to continue. A Symmetrical Continuation Triangle with a bullish bias is characterized by two converging trendlines. During this formation, prices make lower highs and higher lows, creating a tightening range. As the pattern evolves, trading volume tends to decrease, reflecting market uncertainty and indecision. It's important to note that the breakout occurs before the triangle reaches its apex, the point where the trendlines meet. What's particularly noteworthy is that the price breaks above the upper trendline with a noticeable surge in trading volume, serving as confirmation that the pattern is a signal for a continuation of the previous uptrend. This breakout suggests that the market sentiment has shifted back to a more bullish stance, potentially leading to further price appreciation. Note at below RSI Vs Price divergence also noticed! PLEASE NOTE THAT: This chart analysis is only for reference purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade
NSE:BLS
by hardeepssethi
UPL IS SOON TO CRASH DUE TO THIS PATTERN...TECHNICAL INDICATORS - SYMMETRICAL TRIANGLE BREAKDOWN - UPL had formed a very strong symmetrical triangle (with almost 8 CONTACT POINTS) recently and broke it down recently indicating a strong downmove to come in near future REVERSAL FROM 50D & 100D SMA - On daily timeframe, it had recently reversed from these two sma simultaneously again indicating downside pressure REVERSAL FROM STRONG SUPPORT-RESISTANCE LEVEL - It had also tested and reversed from an old and time tested level which earlier had acted as support and now working as resistance level PROFIT TARGET - Its profit target is 544.95 FUNDAMENTAL INDICATORS - LOWER SALES & PROFIT MARGIN COMPARED TO PEERS - On the last quarter (jan-mar), UPL had delivered a lacklustre sales and profit margin comapred to its peers Tata Chemicals, Vishnu Chemicals, Tanfac. All its peers delivered positive growth whereas it has posted profit growth in negative (-4.06%). It is also creating downside pressure on the stock
NSE:UPLShort
by peace_lover
World Wars & US Inflation From 1914This is the US Inflation Rate (YoY) from 1914 until 2022. Symbol is called USIRYY and it measures the Inflation Volatility in the United States. With the War going on in Ukraine, and Russia trying to force its way through, I took the liberty of looking into the following: - How Global Wars Affect Inflation - How US Inflation Reacts to External Wars - How Wars Affect the Financial Markets You can see the time-lines, it's all laid-out in the chart (graph). I took all the Major World Wars and events that significantly affected, not only the US Inflation, but Inflation itself. First of all, the US Inflation Rate (USIRYY) tells me the following: * When the US was involved in a War, we can notice that the US Inflation spiked. * Most of the times when US was not involved in an External War, then Inflation dropped. That's because of War & Uncertainty Sentiment around this "terrific" word. War does not bring anything good, in fact, in only brings bad times. People die and global sentiment gets super-negative. This of course, leads to... you guessed it: Market Crash. Why? Because after or during times of War, there are Recessions and Depressions. Supply Chains are disrupted and the Global Economy falls on its face. What about looking at things from a Technical Analysis perspective? * Symmetrical Triangle: and the only way is UP! I will give you points which I believe are worth keeping in mind for the next Market Crash. First of all, let's be logical about this. Winter is coming and it's only gonna get worse before it gets better. As Inflation spiked to a 40y high, the higher powers intervened, in an attempt to cool the Inflation spike off. I'm talking here about the Federal Reserve (FED) ramping up the Interest Rates. This is the Effective Federal Funds Rate (FEDFUNDS). Can you see the break-out? They want to calm down Inflation, but they can't. Why? Because this is no ordinary Inflationary period, it's a long-lasting thing. One of those hyperinflation, deflation, stagflation, or whatever the heck these experts call it... :) The Volatility Index (VIX) tells me that another spike in Fear Sentiment is inevitable. I'm in love with Elliott Wave Analysis, so I labeled this next chart. This is the United States Consumer Confidence Index (USCCI) and it measures exactly what its name says, LOL. When it drops, people are freaking out. When it rises, people are optimistic and the Markets are going up. Daaaa! With all that said, what's the bottom line here? I believe that periods of terror are gonna hit us all. Are we having World War 3? Who the heck knows? All I know is that there are more pieces to this puzzle: United States 10Y Bonds (USB10YUSD) have reached the Support, and a spike bigger than the Covid Pandemic has started: The 10Y Treasury Note Yield (TNX) have broken out of a 40y down-trend: Isn't it ironic how it synced with the Inflation 40y high? Damn! Germany 40 (DAX, GER30, GRXEUR) is doomed. Fractal sequence, Descending Channel, and a "beautiful" ABC Elliott Wave Pattern. So, how can you prosper from all this? Metals could be a good hedge. Gold (XAUUSD) just broke out of an important Bearish Structure. Maybe it will go up. Natural Gas (NG1!) & Crude Oil (USOIL) however, are showing Bearish Reversals. Bitcoin (BTCUSD) is Bearish until further notice as well. But this may become the new currency moving forward. In times of terror, the banking systems might need to change. Cash and Card is so '00. WHAT'S YOUR TAKE? WAR OR PEACE? Leave your commend down below. Cheers! Richard
ECONOMICS:USIRYYEducation
by Lionheart-EWA
5
Triangle Accumulations: The Key to Bitcoin's BullRun?📈 Hey Crypto Enthusiasts, As we explore the fascinating history of the crypto market, we can't help but notice the recurring patterns that have paved the way for significant bull runs. In 2012, 2013, 2016, and 2019, we observed massive triangle accumulations just before explosive price surges. The question on everyone's mind is whether we'll see a similar pattern before the next bull run. 📊🚀 A History of Accumulation: In the years mentioned, the crypto market exhibited intriguing behavior. Price action formed substantial triangle accumulation patterns. These consolidations often hinted at a market preparing for a major upward move. 📈🌕 Patterns of the Past: The symmetry and persistence of these triangular formations, each preceding a significant bull run, have caught the attention of seasoned traders and crypto enthusiasts. 🧐 Will History Repeat Itself? While history doesn't always replicate, these patterns serve as compelling indicators for what might lie ahead. The crypto market remains unpredictable, but past patterns can offer valuable insights. 🌐🔍 Trading Strategy: Pattern Recognition: Keep an eye out for similar accumulation patterns in the crypto market. While not foolproof, they can provide hints about future price movements. Fundamental Analysis: Stay informed about developments, adoption, and news in the crypto space, as these can influence market sentiment. Patience and Caution: Be patient and cautious with your trading decisions. Utilize risk management techniques like stop-loss orders to protect your investments. Conclusion: The crypto market is an ever-evolving landscape, and historical patterns can serve as guides but not guarantees. While the past indicates the potential for triangle accumulations before significant bull runs, it's essential to approach the market with a balanced perspective and a well-informed strategy. The next bull run may or may not follow the same script, but being prepared and vigilant is your best strategy in the world of cryptocurrencies. ❗️Get my 3 crypto trading indicators for FREE❗️ Link below🔑
by AlexWhale