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Symmetrical Triangle

DXY will trigger a huge crash! Best to stay in cash. Everything indicates that the recession in 2023 is pretty much inevitable. And when the Fed pivots, a market crash is almost guaranteed. Nothing is for sure, but it's based on historical statistical data. The DXY index is currently sitting at the strongest support ever created. It's the rectangle line + wave (3) + wave 1. As per Elliott Wave rules, in an impulse wave, wave 1 cannot overlap wave 4. Only a small wick is permitted. I think this is the best place for a trend reversal and a strong dollar again. Let me know what you think about the recession and the strong DXY dollar in the comments! I want to know your opinion! As you can clearly see, this is the monthly chart, and the price is following this ascending parallel channel. Since 2008, we have been in an uptrend, and trend is your friend until the end. I think if DXY drops below 101, then it's over and this channel is going to break down. The dollar will be weak, and the bull market is imminent. But now there is no point in speculating on a weak dollar; why would you do that? I don't think it's a good idea to short the support and long the resistance. But the majority of traders do that, which is a paradox. This is my update on the DXY index. The dollar is still in a strong uptrend, and from a technical perspective, the uptrend is intact. But let's see if the big players still want a strong dollar. We will discover soon! Happy trading!
TVC:DXYLong
by UnknownUnicorn2537518
66
Symmetrical Triangle on AUD/CAD @ W1A long-term symmetrical triangle has formed following a downtrend on the AUD/CAD weekly chart. It can serve as a continuation pattern for a bearish breakout trading opportunity. My potential entry is placed at 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 topmost point (0.92534).
Short
by AndriyMoraru
NKE - Could have bottomed?NKE tested bounced off a longer term horizontal support zone ($99 - $103) several times in the last 3 months and is now trading within a symmetrical wedge pattern. This could be both a continuation or reversal pattern depending on which side it broke out eventually. However, I suspect the eventual break will be more likely to the upside as the resistence turned support zone ($99-$103) has been holding up in the past few months, plus a bullish divergence can be seen in the monthly chart. Earnings expected on 29 Sep AMC. Guess we'll know by then where it is heading! Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NYSE:NKELong
by Juliac
1
LTC/USDT LONG SETUP!!Hello everyone, if you like the idea, do not forget to support it with a like and follow. Welcome to this LTC/USDT trade update. LTC looks good here. Breaks out from the symmetrical triangle in LTF. Expecting a 15-20% pump from here. Entry range:- $76-$77 Target1:- $80 Target2:- $84 Target3:- $88 Target4:- $94 SL:- $73.4 Leverage:- 5x-10x Long some now and add more in the dip. If you like this idea then do support it with like and follow. Also, share your views in the comment section. Thank You!
Long
by CoreCrypto1
18
SHIB Symmetrical triangle (could break down) Chart for referenceHello all ⭐🌏 Here📉, we notice that Shib has been forming this symmetrical triangle 👌▶ structure for about 3 months now📆📌 I suspect bitcoin will retest the ~15k area soon, and this could mean a drop in many alts as well. There is news of BlockFi filing for bankruptcy 👀🐻 Bitcoin price action and overall market fear due to BlockFi bankruptcy along with FTX bankruptcy could create panic sells🆗 Bitcoin halving cycle is almost complete as per past results, so this could get interesting. I expect extreme volatility in the coming days, feel free to check updates on my most recent BITCOIN analysis for more information on BTC price action Possible bullish : 🐮⏬ As for now, this is SHIB last chance to climb above that support level once again Let's see... Bullish scenario is that we bounce of the bottom of this structure and possibly breakout This is not advice Thank you so much Always have a stop loss ✋🛑💲 set Any thoughts 💭💡, questions 🙋‍♀️🙋‍♂️❓, good 👍, bad👎, happy 😄 or sad 😥, in the comments always welcome Jazerbay 🐕
by jazerbay
19
Bitcoin - The bears will crash BTC again! (Great opportunity) From November 21 to November 24, we had a pretty nice uptrend. It lasted only 3 days, and the structure of the uptrend is bearish. As per my Elliott Wave analysis, it was an ABC correction because I can see only 7 waves, which is a typical correction with an extended wave A. Bitcoin is the most bearish asset, and it's absolutely a pleasure to short Bitcoin or Ethereum! A new week started, and Bitcoin broke out of the symmetrical triangle pretty hard. October and November are extremely bullish months for Bitcoin, but this time we dumped, and Bitcoin continues in free fall. The right question is now: When will we reach 10,000? not if we reach 10,000. After we reach 10K, I think we will have a massive bounce back to 15K or so. Make sure to follow me so you do not miss important information on this expected bounce! If you want to trade bitcoin, the best strategy is "short only." So wait for pullbacks and shorts. I expect the ultimate bottom for Bitcoin to be between 6500 and 10300 USD. I am very happy to provide you with these analyses; stay strong!
Short
by UnknownUnicorn2537518
64
Ethereum - 28% crash is almost ready! (descending triangle) On ETH, the current market structure is extremely bearish. We can spot a descending triangle projection on the 4h chart, so for now the probabilities are for it to go lower. I believe the market wants to wipe out all stop loss orders above the swing high at 1234 USD, which is also at the 0.618 FIB. This is a great level to open a short position on futures. I will short all pumps on ETH until we reach 882 USD, the previous swing low from June 18th, 2022. Ethereum is pretty weak compared to other altcoins, and I am not surprised at all. As per my Elliott Wave analysis, the A wave is a 3-wave corrective structure. The bears are strong, and they want to push the price lower. Crypto will continue in the biggest crash in history. ETH can reach 400 USD next year, and BTC can reach 10 000 USD next year. I am naturally bearish on this chart, because why not? What is bullish here, let me know in the comment section! This is a brief and clear update. I hope you like it! I am not falling for this mini uptrend on the 1h chart.
Short
by UnknownUnicorn2537518
60
TWT - Wait for the breakout!Here's a quick look at the TWT 4 hr chart. As we can see, the price has been forming a bigger symmetrical triangle, and we may see a breakout soon. ------------------------------------------- The idea is: Buy when the price breaks above the triangle and take profits at the levels shown in the chart. Targets: 1. 2.34$ 2. 2.47$ 3. 2.6$ 4. 2.95$ ------------------------------------------- What are triangles when it comes to trading? Key points: "1. In technical analysis , a triangle is a continuation pattern on a chart that forms a triangle-like shape. 2. Triangles are similar to wedges and pennants and can be either a continuation pattern if validated or a powerful reversal pattern, in the event of failure. 3. three potential triangle variations can develop as price action carves out a holding pattern, namely ascending, descending, and symmetrical triangles." ------------------------------------------- If you like the content, then make sure to comment and like the post :D Follow me for daily profitable trading setups BTC dictates the market. If BTC falls, then Alts will fall as well. Trade safe!
by MBM_Crypto
ETH: DECISION TIME SOON!! BULLISH OR BEARISH??Hello everyone, if you like the idea, do not forget to support it with a like and follow. Welcome to this ETH update. ETH is currently forming a symmetrical triangle in the 4hr time frame. This symmetrical triangle is getting squeezed and soon we will see a decisive move. WHAT IS A SYMMETRICAL TRIANGLE? A symmetrical triangle occurs when the price makes lower highs and higher lows. This usually means that neither the buyers nor the sellers are able to gain control, causing the price to range within a triangle. The price usually trades between trend lines which act as support and resistance, preventing the price from breaking through to new highs or lows. You can trade using a symmetrical triangle by placing a trade when the price breaks through the triangle and trading in the direction of the breakout. The stop loss would go on the opposite side of the triangle. The take profit is placed the same distance away from the entry as the height of the back of the triangle. If ETH breaks down from the triangle then we will see a downside move and the price might come to around $1000 in case of a breakout we will see a bullish move. As of now waiting for a clear breakout or breakdown. What do you think here? Do you think we will see a breakdown and downward movement or we will see a bullish breakout? Share your views in the comment section. If you like this idea then do support it with like and follow. Also, share your views in the comment section. Thank You!
by CoreCrypto1
11
TOTAL M.CAP ALSO SHOWS BEARISH RETEST!Hello everyone, if you like the idea, do not forget to support it with a like and follow. Welcome to this TOTAL M.cap update. The total market cap looks bearish here. This recent pump just looks like a bearish retest. As you see in the chart, the total market cap breaks down from the symmetrical triangle in the daily time frame and currently rejecting after the perfect retest. Two important supports $700B and $550B are I'm looking for after this bearish retest. Invalidation:- Daily close above $860B If you like this idea then do support it with like and follow. Also, share your views in the comment section. Thank You! The total market cap also indicates a bearish retest.
CRYPTOCAP:TOTALShort
by CoreCrypto1
9
AAPL's Four-Month Triangle May Be BreakingPrimary Chart: AAPL's Four-Month Triangle with Various Trendlines and VWAPs SUMMARY: AAPL's longer-term charts show a symmetrical triangle arising from the convergence of a down trendline from January 2022 (dark blue) and an up trendline from March 2020 lows (also dark blue). This triangle appears to be in the process of breaking on arithmetic charts. When considering that long-term trendlines don't break easily, price may retest or whipsaw above and below this long-term up trendline (from March 2020 lows) two or more times before the line can finally break decisively. The first major level of importance below this 2020-2022 up trendline is the VWAP anchored to the 2020 lows. This VWAP lies at approximately 127.61 today. On a logarithmic chart , this VWAP coincides with a longer-term up trendline in the coming 2-4 months (see Supplementary Chart B below). This is probably the most conservative downside target if the bear market continues to pressure prices lower. Another anchored VWAP from the January 2019 lows is approximately at 102.45. This level coincides with the .618 retracement of the 2020-2022 rally starting at the Covid lows, which equals 102.71. See Primary Chart. But before discussing these levels around $102-$103, price must first break through the .50 retracement of its 2.5-year rally from March 2020 to January 2022. The .50 retracement lies at $118.02 . Another long-term up trendline from the January 2019 low appears on the Primary Chart in light blue. This even longer-term trendline coincides with the .618 retracement of the 2020-2022 rally off the Covid lows and the VWAP anchored to the January 2019 low. If this long-term trendline is tested next year in January or February, it would be about $102-$103, the same level as the VWAP from the January 2019 low and the .618 retracement of the 2020-2022 rally—where the yellow circle appears on the Primary Chart. Could this be where AAPL puts in a lasting bottom at 102-103? This analysis will briefly cover some of the broader and longer-term levels for AAPL. If the downtrend continues as it has, and the macroeconomic and interest-rate environment remains challenging for equities, AAPL may reach the levels identified. AAPL's four-month triangle has formed from the convergence of two trendlines: (1) a downward-sloping trendline from its all-time high to the present (dark blue) and (2) an upward-sloping trendline from the pandemic-crash low in March 2020 to the present (also dark blue). On an arithmetic chart, AAPL appears to have violated this multi-year upward trendline in recent days with a couple closes below the line. One interesting perspective on the 2020-2022 trendline appears on a logarithmic chart. AAPL has shown a more decisive break of this 2020-2022 up trendline, which appears as an orange line on this Supplementary Chart below: Supplementary Chart A: Logarithmic Chart with Upward Trendlines from March 2020 low and January 2019 Low But when multi-month triangles like this break, and when multi-year trendlines like this break, it should be expected this could be a process rather than a quick event, assuming the trendline is valid. In part, this is because multi-year trendlines and multi-month triangles do not break and dissipate easily. The lower trendline of the triangle pattern is a multi-year trendline from the Covid lows to the present. Price does not always just break right through such an important level. On occasion, it can slice right through a level deemed consequential and long-term. But often when encountering a very important longer-term level, price can tag it, then break it repeatedly in both directions, whipsawing above and below the line a few times before following the ultimate direction it will take. Or it can break the line and then retest it from underneath a couple times as well. Levels of importance below this trendline are the VWAP anchored to the March 2020 low. The anchored VWAP from this 2020 lows is shown in light red. Currently, that VWAP lies at $127.61, but this can change over time due to the dynamic nature of VWAP calculations. Because it is longer-term, it shouldn't change too dramatically in the coming days or weeks unless a very sizeable rally or crash takes place. Another longer-term anchored VWAP from the January 2019 lows is approximately at 102.45. This level currently coincides with the .618 retracement of the 2020-2022 rally starting at the Covid lows, which lies at 102.71. See Primary Chart. But before discussing this 2019 anchored VWAP and .618 retracement around $102, price must first break through the .50 retracement of its rally from March 2020 to January 2022. The .50 retracement lies at $118.02 . Another even longer-term trendline can be drawn from the January 2019 low to the present. This trendline intersects with the .618 retracement early next year in January to February 2023 (see the yellow circle on the Primary Chart). This level also coincides with the approximate location of the 2019 anchored VWAP (dark purple)—the current trajectory of this 2019 anchored VWAP looks as if it may run near or through the yellow circle in the next 3-5 months. Ultimately, this is not intended to be a bold, heroic prediction that AAPL will certaintly reach $127, $118, or $102. If the downtrend structure continues to remain intact, and rallies get sold, then these are viable targets. In short, this is just a technical overview showing that these levels are higher probability targets that could likely be reached if AAPL continues the path of least resistance lower. Lastly, consider the March 2020 anchored VWAPs discussed in this post and its relationship to the same trendlines discussed except drawn on a logarithmic chart. The 2019-2022 trendline (light blue) coincides with the March 2020 anchored VWAP (or nearly does). This level will be about $127-$130 in 1-3 months. So perhaps this can be both a conservative target or a more intermediate term low in this bear. Supplementary Chart B: Anchored VWAPs Position Relative to Logarithmic Trendlines
NASDAQ:AAPLShort
by SquishTrade
5
🐶DOGE - 30% crash is imminent! 30% crash is definitely very possible on DOGE, so be prepared for it! After a 189% pump on DOGE, do not be surprised at all if we the bears step in. What goes up fast also goes down even faster. An impulse wave was detected from the peak, which is not a great sign. There is an increased probability of another impulse wave to the downside. Overall, I think this huge pump on DOGE is done, and I expect a retracement to shake out late longs. Let me know in the comments section what you think about DOGE. Are you bullish or bearish? I look forward to your comments! The latest news on DOGE is that Twitter will not include any cryptocurrency at this moment in their business plan. I believe DOGE will go up, but not now; it's just too fast. I expect tremendous gains for selected altcoins. You can find them in the related section down below. For more analysis, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
60