Triangle
GOLD → Consolidation before rising to 2500...FX:XAUUSD after breaking through trend resistance is forming a consolidation, just like the dollar. Sellers start selling on indicators and MM may set a trap before further growth.
Technically and fundamentally gold has a favorable environment. The price is in the buying zone and in the ATH zone. There is a lot of support (obstacles) from below, and there is emptiness from above and nothing prevents to go up. There is consolidation on H1 and all technical conditions are favorable for the continuation of growth.
BUT!
There is an interesting pattern forming on H1-M30, which can give a small correction as a trap for sellers before further growth. Now a lot of selling is forming on indicators (overbought, rsi, macd and so on), accordingly, MM may show a reversal.
The whole emphasis is on 2461, If the price fixes below, the gold may be driven to the liquidity zone: 2450, 2440, 2430 before further growth.
Resistance levels: 2475, 2484
Support levels: 2461, 2450
If the price consolidates below 2461, a retest of the support is possible before further growth. If a rebound is formed, consolidation above 2467-2475, we should wait for a retest of resistance with a breakout attempt.
Rate, share your opinion and questions, let's discuss what's going on with ★ GOLD ;)
Regards R. Linda!
Bullish on SMCI - Symmetrical Triangle FormationSMCI looks has clearly formed a symmetrical triangle. I expect a triangle breakout at earnings or possible before earnings if really good news is expected. Because this is a symmetrical triangle, you have to play the direction of the breakout. Have a tight stop loss at 800 and prepare for take off to retest $1220 💰. If this breaks out bullish, this will be a 45%+ move 🚀. On a side note, I'm expecting a stock split announcement and a killer earnings to catapult this thing. Hold on 💺
SWING IDEA - HBL POWER SYSTEMSHBL Power Systems , a leading battery and power systems manufacturer, is exhibiting technical signals that suggest a promising swing trading opportunity.
Reasons are listed below :
Break of Symmetrical Triangle Pattern : The price has broken out of a symmetrical triangle pattern, indicating a potential bullish trend continuation.
Bullish Engulfing Candle on Weekly Timeframe : The recent formation of a bullish engulfing candle on the weekly chart suggests strong buying pressure and the potential for further upward movement.
Closed Above 560 Resistance : The stock has closed above the 560 level, which was a crucial resistance zone, indicating strong bullish momentum.
Higher Highs : The stock is consistently making higher highs, reinforcing the strength of the upward trend.
Trading Above 50 and 200 EMA on Weekly Timeframe : The stock is trading above both the 50-week and 200-week exponential moving averages (EMA), reinforcing the bullish sentiment and providing strong support levels.
Trading at All-Time High : The stock is trading at its all-time high, suggesting strong market confidence and potential for further gains.
Target - 655 // 755
Stoploss - weekly close below 495
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@visionary.growth.insights
BJCORP. Classic stock after 1998 crisis 18/July/24Berjaya Corporation. A Conglomerate in Malaysia where many investors have xx experience .. after 1998 Asia Fianacial crisis. But with coming "new"....
MASTERING SYMMETRICAL TRIANGLES: A GUIDE FOR TRADERS👀See the first 3 items on the chart👆
🔰Other details:
⭐D:
⭐E:
⭐F:
⭐G:
🔰Additional Considerations for Triangles:
⭐H: Number of Points: To construct a triangle, we need at least two HIGHS and two LOWS. Occasionally, triangles are formed using six points instead of the usual four.
⭐I: Validity Criterion: The BREAKOUT point (exit point) of a triangle should not be too close to the intersection of its upper and lower sides; otherwise, the triangle loses its validity.
GameStop watch out 12.68. 18/July?24GME probably having strong support at 12.68 +/-. As this zone is a multi confluence of :- 1) Monthly 233 EMA (white MA) 2) Monthly Order Block/ Demand Zone 3) Median Line of Pitchfork (Thick Blue). There would a probably a good support If there was a pullback toward wave E of triangle (yellow circled ) @ 12.68..
Gold's triangle bullish idea. 18/July/24XAUUSD possible forming triangle patten in wave (IV) (blue). P/s Trading is about probability games the only 100% sure things "we can control" is our own risk/money management e.g :- 1) Risk/Reward 2) Position size.
PEPE → A condition that will lead to growth. Is the buyer back?BINANCE:PEPEUSDT is undergoing a deep correction phase. The price is resting on the strong support and the "discount" zone appears the buyer, holding the market. The focus on the upper boundary of the range...
! For convenience, I will indicate key zones without zeros.
Bulls do not let the price below 0.0761, forming a limit support area, in the neighborhood of which a strong buyer appears, it can be determined by the growth of volumes and the pattern of redemption with the subsequent retest without updating the minimum.
At the moment it is not excluded that the coin can continue falling, but based on the general situation there is a chance that PEPE can move into the recovery phase, but provided that the coin can pass the area of 0.0951-0.0991 with the price fixing above this zone, which will generally define an intermediate bottom for the market.
Resistance levels: 0.0952, 0.0991, 0.1084
Support levels: 0.0886, 0.0761
Technically, the situation is complicated because of bitcoin, which is consolidating in the discount zone, but in general there are bullish prerequisites. If the guide (BTC) goes up, it may favor altcoins.
Rate, share your opinion and questions, let's discuss what's going on with PEPE / USDT ;)
Regards R. Linda!
Dabur: Resistance Zone !Hey There,
- Like always, The chart is self-explanatory.
- We saw a triangle breakout which happened very close to a crucial resistance zone that acted like one.
- This is one previous support that turned crucial resistance
- Previously, the price has fallen 3 times after testing this level. The fourth time's a charm?
- We see a good consolidation at the resistance zone since the breakout
- NSE:MARICO sustained similar consolidation to fly high whereas NSE:HINDUNILVR failed to break it.
- What will DABUR do?
Have Insights or Questions? Let us know in the comments below.👇
While you do that, how about a boost for some motivation🚀
⚠️Disclaimer: We are not registered advisors. The views expressed here are merely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. Like everybody else, we too can be wrong at times ✌🏻
TATA STEEL: SYMMETRIC TRIANGLE- The chart is pretty self-explanatory
- The price tests a 2 year old resistance trendline
- The formation is one beautiful symmetric triangle that can have either outcome
- The consolidation has been solid so far. This means The momentum may be really good.
- The PE ratio is stagnant with the price
- Do check out our take on JSW Steel in the suggested ideas below.
What is your take on it? Feel free to comment. If it helped, Do Leave us a boost 🚀
Disclaimer: We are not registered advisors. The views expressed here are solely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. We like everybody else, have the right to be wrong :)
LONGING $MARAWhy I am bullish on NASDAQ:MARA
- About to break out of a symmetrical triangle pattern
- Recent bullish VWAP Divergence
- A lot more buying pressure vs selling on Time Relative Volume Oscillator
- Recently bounced off of a weekly Fair Value Gap
My personal trade:
Stop Loss / Take Profits:
- Entry: $20.72
- Take Profit: $34.26
- Stop Loss: $10.99
XRP Rockets 12%: Triangle Pattern and Futures Signal Bullish RunXRP, the native token of Ripple, has defied the recent market stagnation with a stellar 12% surge in the past 24 hours. This jump extends its weekly gains to a remarkable 40%, significantly outperforming other major cryptocurrencies. This unexpected bullish move is fueled by a combination of technical analysis and a surge in futures bets, suggesting a potential continuation of the uptrend in the coming weeks.
Bullish Triangle Hints at Breakout
Technical analysts are pointing to a significant development on XRP's long-term price charts – the formation of a bullish triangle pattern. This pattern typically emerges when the price action gets squeezed between converging trendlines, one acting as resistance and the other as support. As the price fluctuates within this narrowing range, a breakout is often anticipated, with the direction determined by which trendline is breached.
In XRP's case, the triangle pattern hints at a potential upside breakout. This is further bolstered by the recent price surge, which has pushed XRP towards the upper trendline of the triangle. If this resistance level is convincingly broken, analysts predict a significant price increase, with the height of the triangle often serving as a target for the breakout.
Rising Futures Open Interest Fuels Optimism
Adding fuel to the bullish fire is the noteworthy rise in open interest for XRP-tracked futures contracts. Open interest refers to the total number of outstanding futures contracts that have not yet been settled. A significant increase in open interest suggests a growing number of traders are placing bets on XRP's price movement, with a rising number typically indicating anticipation of volatility and potential price increases.
The near doubling of XRP futures open interest within the past week signifies a surge in investor confidence and a potential influx of capital into the XRP market. This aligns with the bullish triangle pattern, suggesting a confluence of technical and market sentiment that could propel XRP further upwards.
Is XRP Back on Track?
XRP's recent performance marks a significant turnaround after a prolonged period of lagging behind the broader market. This sluggishness stemmed partly from the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) regarding the classification of XRP as a security. However, with some positive developments in the case, including a recent partial dismissal of the SEC's claims, investors appear to be regaining confidence in XRP's long-term prospects.
A Note of Caution
While the current momentum is undoubtedly positive for XRP, investors should exercise caution. The cryptocurrency market remains inherently volatile, and unforeseen events can trigger sudden price swings. As always, thorough research into XRP and the broader market environment is crucial before making any investment decisions.
Looking Ahead
The combined forces of the bullish triangle pattern and rising futures open interest paint a promising picture for XRP in the near future. If the anticipated breakout from the triangle materializes, XRP could experience a sustained price increase in the coming weeks. However, close monitoring of market developments and ongoing legal proceedings surrounding XRP remains essential for investors navigating this dynamic market.
XRP hits target of green symmetrical triangle breakout.Target hit!nHopefully now that this target has been hit xrp will still hold support on all the MAs it rose above to hit this target including the weekly 20ma not shown here since this is the 1 day time frame. Nice to see price action send a wick above the top yellow trendline. Once it starts to close a few consecutive daily candles above the top yellow trendline and perhaps 1 to 2 consecutive weekly candles above it then it should really be go time. May take a second to flip it to support though after such a big pump. *not financial advice*
XRP hits target of green symmetrical triangle breakout.Target hit!nHopefully now that this target has been hit xrp will still hold support on all the MAs it rose above to hit this target including the weekly 20ma not shown here since this is the 1 day time frame. Nice to see price action send a wick above the top yellow trendline. Once it starts to close a few consecutive daily candles above the top yellow trendline and perhaps 1 to 2 consecutive weekly candles above it then it should really be go time. May take a second to flip it to support though after such a big pump. *not financial advice*
GREE - BTC miner they are all breaking out poss 20X Bullish case, buy and forget, wait till next summer double your money and then some
Poor triangle breakout but the rest of the BTC miners already made triangles and have broken out and some made 50% this week alone
It will go up in stages but in full bull cycle the leverage play from BTC doubling in an equity could cause 20x form here 10 to 200 ? time will tell. nice to know now though!
Well if its 3-4 now then you can times that by 3-4 depending on when you get in so its an equity which may be able to do 20x times 3 or 4 so lest say 60x from today in under two years.
Thats not too bad hey! who else does that ? be a hero for yourself! eg 10k now in two years time thats 600k minus tax etc you can buy a nice house for cash for that. best to wait until 2030 bottom of the property cycle and pick up a 1.5 M house now for cheeky cash offer of 600k you will get them all for a 10k now invest ! Its not hard but almost no one reading this will have guts to do it! In 2030 this will still exist and I hope it works out for someone. If it does send me an email please and pics of what a 10k house looks like!
Not advice just for education and fun and life changing scenarios
