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Symmetrical Triangle

Bitcoin + Comment Your Altcoin!Below this idea, I will give you my opinion/analysis of your altcoin. Make sure you hit the boost button and comment your altcoin below the idea to participate. I will do an analysis on the weekly/daily chart (long term). I start my analysis with Bitcoin: Bitcoin is currently rising, but in my opinion, there will be one last flash crash below the 16k level to wipe out all leverage traders. There are tons of liquidity and stop losses to be gained. In this corrective wave, bitcoin could hit 30k - 39k, both targets are very arguable, so I am currently bullish in the short-term. I am waiting patiently for the flash crash to buy cheap Bitcoin, and of course I want to ride the huge bull market to a new all-time high. 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 post trade setups privately. As per my Elliott Wave analysis, we are in the final C impulse wave (ZigZag 5-3-5). ZigZags are often very impulsive, which is true in this case. Also, do not forget that we have an unfilled GAP on CME futures at 20k. Statistically, all gaps were at least partially filled. This gap is completely unfilled, so make sure you understand that you are going against 100% historical probability and performance if you are fully long on Bitcoin. My favorite altcoins are now Waves and Floki. Do not forget to write your altcoin in the comment section for my analysis/opinion + hit the boost button to participate! Thank you, and I wish you fun during your trades.
by UnknownUnicorn2537518
1.2 K
Bitcoin in symmetrical triangleHello Fellow Traders Greetings from team trading the tides ! lets discuss bitcoin which is inside a Symmetrical triangle , volume is pretty low waiting for the break out to enter position for long or short but I am more interested to wait till it reaches 31-32 k level which is a major resistance area and a good distribution point if we see the history . potential area to initiate short : 31-32 k levels according to the market conditions 22 k level is also very likely because there's a cme gap and btc inflows from wallets to exchanges are rising ! happy trading !
Short
by TradingTheTides
2
SPY's Triangle Reflects the Chop, but Battle Lines ConvergePrimary Chart : 195m chart of major US index, the S&P 500 represented by the SPDR® S&P 500® ETF Trust, with symmetrical triangle pattern and anchored VWAPs SquishTrade has posted fewer analyses lately as markets have been quite uncertain and choppy. When there is less certainty in the analysis, there should be less to say. And prudence dictates avoiding confusion by creating analyses and forecasts when trends are unclear and markets remain choppy. This post will not present a directional view given the high level of choppiness and uncertainty. Instead, it will show where the battle lines, so to speak, are drawn. The market may deign to inform us where the next trend move will be when key levels begin to break. And sometimes, markets will not inform us until after a few false moves—in other words, lies come before the truth perhaps. Indeed, this market has been difficult to trust even for directional moves under one or two days' time. First, the smaller triangle within the larger triangle will likely break even if a false break comes before the real one. This may coincide with price breaking to the other side of key anchored VWAPs shown as well. This may signal whether the upper or lower trendline of the larger symmetrical triangle will be tagged next. But until the upper or lower trendlines of the triangle are broken decisively, i.e., not a false break, the trend may remain unclear. Rate volatility has perhaps exacerbated the uncertainty in equity markets to an even greater degree as rates on the shorter end of the curve have whipsawed dramatically, e.g., 2-year note and yield both whipsawing along with Fed Funds rate futures and other interest-rate products and instruments like the Eurodollar futures. Here are the key points to watch in the coming weeks: The longer-term symmetrical-triangle pattern shown on the Primary Chart The smaller triangle within the larger symmetrical triangle, shown on Supplementary Chart A below Supplementary Chart A The key anchored VWAPs, Supplementary Chart B, that are converging and compressing similar to the very nature of the larger triangle's own converging trendlines, though VWAPs are more fluid and curvy Supplementary Chart B The POC on a daily chart has remained around 395-396 for quite some time (not shown), and this remains a key pivot for SPY The POC on a weekly chart has remained around 393.70-394.90 for quite some time (not shown), reinforcing the key pivot on the daily at 395 Several Anchored VWAPs and Fibonacci levels all coalesce around 390 (ranging from 389-392); a key gamma level on PSY also lies here. ________________________________________ Author's Comment: Thank you for reviewing this post and considering its charts and analysis. The author welcomes comments, discussion and debate (respectfully presented) in the comment section. Shared charts are especially helpful to support any opposing or alternative view. This article is intended to present an unbiased, technical view of the security or tradable risk asset discussed. Please note further that this technical-analysis viewpoint is short-term in nature. This is not a trade recommendation but a technical-analysis overview and commentary with levels to watch for the near term. This technical-analysis viewpoint could change at a moment's notice should price move beyond a level of invalidation. Further, proper risk-management techniques are vital to trading success. And countertrend or mean-reversion trading, e.g., trading a rally in a bear market, is lower probability and is tricky and challenging even for the most experienced traders. DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment or trading recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified financial adviser or other investment / financial professional before entering any trade, investment or other transaction. Thank you for reading. If this post added clarity or prompted additional thoughts on the technicals of SPY, please comment below!
AMEX:SPY
by SquishTrade
10
GBPCAD - NEW BREAKOUT 📈Hello Traders 💖 On The Daily Time Frame The GBPCAD Broke The Major Key Level (Support Becomes Resistance Level) and he Broke The Resistance Line ✔ Currently, The Price is testing 1.68195-1.68603 Support Level for Creating a new Higher Low 📈 If Price Stays Above The Key Zone, GBPCAD Can Continue The Bullish Move 📈 ----------- TARGET 1: 1.69930🎯 TARGET 2: 1.71650🎯 ___________ if you agreed with this IDEA, please leave a LIKE, SUBSCRIBE or COMMENT!
Long
by Hsan_BenAhmed
6
Symmetrical Triangle on XAU/USD @ D1Gold (XAU/USD) is currently consolidating inside a symmetrical triangle pattern on its daily chart. I will try to use it as a trend continuation breakout setup. My potential entry is marked by 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 angle (the red line at 1934.12). I will ignore bearish breakouts from this formation.
OANDA:XAUUSDLong
by AndriyMoraru
btc ---> breaks uphello guys... as you can see BTC has broken the last symmetrical triangle pattern... it would be clear to all of you that the first target of this pattern touched, however, you should consider the main move in this specific coin is bullish and it is not out of mind if it is going to touch the second target as well, the risk to reward for this position is valuable so I recommend you enter to position with a reasonable risk in case of touching the stop-loss, _____________________________________ always do your research. If you have any questions, you can write them in the comments below, and I will answer them. And please don't forget to support this idea with your likes and comment
Long
by melikatrader94
33