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Symmetrical Triangle

GOLD → Bearish leverage continues to drive the market OANDA:XAUUSD is retesting the resistance of the newly formed descending price channel. A rebound and a retest of the 7-day flat support is formed In the near future, the price may test the flat support at 1916.7 and form a rebound. The rebound may be small, for example, to 1924 to retest the trend resistance. After that the price may continue its fall, breaking the marked support. Globally, the price is in a downtrend. A symmetrical triangle is clearly formed on the d1 chart and we have fundamental prerequisites that the price may break the support at 1902 and head far down. The local situation is simpler. Since the local trend intraday can change several times, our task is to look for key levels to find a good opportunity to open trades Support levels: 1916.7 Resistance levels: 1924 The medium-term outlook is bearish. Most likely, gold may update both local and global minimums on the background of strong strengthening of the dollar ( TVC:DXY ). Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
22
EURCAD → Symmetrical triangle may continue the trend FX:EURCAD forms an interesting set-up, which in the medium term, if the right scenario is realized, can continue the previously formed bullish trend. On the chart, I noted a symmetrical triangle, which is developing within a global flat formation after a prolonged growth of the currency pair. Another resistance retest still cannot break the resistance, the price will form a correction and local consolidation. It is possible that the price may form a small correction to the support at 1.4656. From the mentioned level may be followed by another rebound and further growth. But, the forming local consolidation near the triangle resistance may also lead to the breakout of the figure resistance, consolidation above the line will be the confirmation of the buy signal. Also we should not forget that the price, on the background of unpredictable events, can break the support of the figure and in this case the price can quickly reach the support at 1.44894. Resistance levels: the upper facet of the triangle, the level of 1.4771. Support levels: support of the figure and 1.4656. In the long term, I expect a breakout of resistance and further growth, but the opposite scenario may follow, when the price may break the support. Regards R. Linda!
Long
by RLinda
13
💱EURGBP - symmetrical triangle. What's next?EURGBP is forming consolidation. Two scenarios can develop in relation to the symmetrical triangle: breakout of resistance or support TA on the high timeframe: 1) A bearish trend is formed. The price forms a pre-breakout consolidation around 0.85200 2) False breakout of liquidity area, price may reach 0.85300 area in the nearest future. TA on the low timeframe: 1) Symmetrical triangle, price bounces off resistance and may soon test support at 0.85300 area 2) A rebound from support is also likely. 3) It is actually difficult to trade inside triangles. It is best to wait for a breakout of one of the boundaries and open a trade in the direction of the breakout Key support📉: 0.85300 Key resistance📈: 0.86000
Short
by AndeWave
3
Symmetrical Triangle continuationAUDJPYSymmetrical Triangle continuation Pattern in 1 Hour Chart AUDJPY, its show that might they Break out from this point to Upward Direction, showing bullish Trend. Entry Price & TP1 & TP2 Set Accordingly Stop Loss for Long: 93.939, For Plan B Entry price is also set for Short Trade might this go from this Point to down ward so we set trade accordingly & Entry Price & Stop Loss for Short Trade is 94.326 also Defined with TP1 & TP2 as well. Symmetrical Triangle continuation Pattern might take break out both side so we already make plan for the both side trades, once one side trade is active, so cancelled the other side, wait & watch
by TradingwithBelieve
Ripple (XRP) -> Triangle ContinuationMy name is Philip, I am a German swing-trader with 4+ years of trading experience and I only trade stocks , crypto , options and indices 🖥️ I only focus on the higher timeframes because this allows me to massively capitalize on the major market swings and cycles without getting caught up in the short term noise. This is how you build real long term wealth! In today's anaylsis I want to take a look at the bigger picture on Ripple. Since the beginning of 2018 Ripple Coin has been trading inside and forming a quite bullish triangle pattern which is most more often than not a simple continuation pattern. I am now simply waiting for a breakout which is roughly at the $1.4 level and then we could see another crazy pump of more than 1000% towards the upside. - - - - - - - - - - - - - - - - - - - - I know that this is a quite simple trading approach but over the past 4 years I've realized that simplicity and consistency are much more important than any trading strategy. Keep the long term vision🫡
CRYPTO:XRPUSDLong
by basictradingtv
39
Ocean Protocol: Strong compression that could become explosive!Ocean Protocol (OCEAN) seems to be in a very strong compression and could therefore soon blow up! Despite a small fake out from the top, the other breakouts are just wicks that are very well recovered, as can be seen on the last two low wicks. A breakout from above could at the very least take us towards $0.42, and a breakout from below could see the asset fall towards $0.23-$0.24. We favour an upward movement, but proceed with caution!
OLong
by Blockunity
2
Giant Symmetrical Triangle TRACUSDI think this is the coolest chart pattern in crypto i have found. It's a weekly on the OriginTrail token TRACUSD. Showing a giant symmetrical triangle, with a well-defined level of horizontal resistance running through the middle of the triangle. Notice also TRACUSD loves to retrace to the 4.236 Fibonacci level after each decline. The minimum target of this breakout is around $2.50 which is the length of the vertical side of the triangle. This also happens to coincide with the all-time high, making it an important level. However, the ultimate price target for this would be the 4.236 extension to around $14.84! Only time will tell if this pattern will play out, however it's a very nice looking chart. Do you agree? Comment below.
TLong
by jaepayne
1
GOLD → NFP could break resistance OANDA:XAUUSD is forming a consolidation after breaking the resistance of the wedge. On D1, the price is stopping near a strong level and preparing for something-o Consolidation above the previously broken line forms a potential, it can be either a break of resistance and formation of further momentum, or a false break of a strong level and further fall. Now everything depends on Unemployment and NFP, the data will be published soon. On the chart we see the formation of a symmetrical triangle, in this case it means a strong accumulation before a breakout to one side or the other. Support levels: 1942 Resistance levels: 1947 I expect a strong reaction on the background of the approaching news. A breakout of the figure boundaries will give us a strong reaction in the market. Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
12
TATA STEEL LTD - 40% ROI - Long TermSYMMETRICAL TRIANGLE in Weekly Time Frame if this stock breaks 115 level, huge potential comes in this stock If you are interested in investment, go for it with proper risk. Overall "TATA STEEL" fundamentally good stock. Entry level : 115 SL : 102 TARGETS : 125,138,152 Disclaimer - All information on this page is for educational purposes only, we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made. HAPPY TRADING GUYS
NSE:TATASTEEL
by Jagadheesh_JP
9
Bitcoin - Be aware of the final dump! (triangle) This is a quick update on Bitcoin's short-term price action! Bitcoin is moving in 3 wave structures, which indicates a triangular formation that usually breaks in the direction of the main trend! I am bearish on BTC until we hit my price target of 24800, which is a significant swing high from June. The triangle suggests it as well. I expect a final impulsive wave to the downside before a pump back to 27,000. I think this break of the triangle will be only a fakeout to take liquidity, so make sure you take profits and do not stay in the short position for a long time! Now the question is, will we see another bounce from the ascending trendline of the symmetrical triangle? It's really possible because, from the Elliott Wave perspective, triangles have 5-waves in them, as ABCDE. Now Bitcoin is in the D wave. But sometimes triangles are shorter, and we could go down sooner rather than later. This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately. Overall, you probably know that I expect 21k to be hit later this year and potentially 15k next year, so do not buy any Bitcoins at the current price! Thank you, and for more ideas, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
85
Ethereum -> Is This Still Bullish?Hello Traders and Investors , my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Ethereum 💪 If we are looking at the macro view on the monthly timeframe you can see that Ethereum perfectly retested the 0.768 fibonacci level in confluence with the previous cycle high so everything looks like we are starting the next major bullish crypto cycle. With Ethereum once again retesting massive weekly structure which is now acting as strong support I do expect another weekly bullish bounce from here. Finally you can see that Ethereum is creating bearish market structure on the daily timeframe so it is best to wait for some reversal before a weekly and monthly bounce will be quite likely. Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint📈 Thank you for watching and I will see you tomorrow! My previous analysis of this asset:
BITSTAMP:ETHUSDLong
by basictradingtv
25