Get started

Triangle

Lesson about symetric triangle Here is an example of a symetric triangle pattern played out on the 4hr XRP/USD chart. Im starting to see these triangle patterns more and more whether it be considered a pennant or whatever. The results are similar regardless of what you call it. Price gets squeezed towards the end of the formation and at a certain point it shoots up or down. The tricky part is predicting which way it will go. But with the triangle at least you could have predicted when the price action will occur. I am still learning a lot myself but I am trying to document my journey from scrub to master of the charts.
KRAKEN:XRPUSDEducation
by UnknownUnicorn4304403
1
POWER of the WEDGEOne of my favourite tools is wedge patterns. Last year the AUDUSD was a dream to trade using the wedge pattern. An 'ascending wedge' pattern approaching a level of resistance indicates a sell opportunity is coming up (reversal). To trade the pattern you will wait for a break below the wedge line before selling, with stop losses above the highest level in the wedge. A 'descending wedge' pattern approaching a level of support indicates a buy opportunity is coming up (reversal). To trade the pattern you will wait for a break above the wedge line to enter a buy position with a stop loss below the lowest low in the wedge. Give it a go!
Education
by ForexStoreau
2
DXY - Daily - Multi-Timeframe Analysis Series 1The DXY being weighted as follows: EUR - 57.6% JPY - 13.6 % GBP - 11.9% CAD - 9.1% SEK - 4.2% CHF - 3.6% As you may imagine, there's a lot more interest in using the DXY for a correlation / confluence tool when trading the EURUSD . The EURO equates to over half of the overall weight of the index, meaning there's a majority interest in the EUR vs USD. We can use this to our advantage, alongside the USDOLLAR INDEX, to add positive or negative trade factors when considering positions across USD pairs and commodities . Comments I've let the Daily remain zoomed out to show the potential for a consolidation formation. It looks closer matched to an Ascending Triangle (potential to break to the upside or downside) rather than a Rising Wedge (strictly reversal pattern). If the Monthly is looking prime for a sell-off, I must favour the Ascending Triangle breaking to the downside. Only time will tell, but I won't be counting on massive Dollar Strength beyond 97.50 unless we see a big Weekly close above this key level. Unless this starts to break down below the 96.00 handle, it's still bullish for me moving into next week. Key Note Look at how price isn't respecting the EMA's as well as it has done in the past. This is an indication of consolidation occurring on this timeframe.
TVC:DXYEducation
by robdee4x
BTCUSD D3/W1 charts (3/14/2019)The D3 chart looks a lot more promising than the smaller TFs at this time. A pennant/symmetrical triangle is currently printing and a bullish break should have price targeting the $4150/60 level as well as place price just under the neckline of the possible purple IHS that some people are watching. RSI continues printing an ascending channel but traders should watch for a possible bearish drop through channel support. The W1 chart shows the multi-year ascending channel I spoke about in the smaller TF update I posted.
BITSTAMP:BTCUSDEducation
by Chris_Inks
BTCUSD Indecision pointRight now is at an indecision area we are rejecting the Blue/grey zone we have emas closing in and out we are forming some sort of ascending channel/triangle/flag wich give us a bullish outlook, usually with this I would say bullish, but we have next to the resistance a larger time frame resistance we've had a few green weekly candles, but the last few I think that are indecision ones. On the other side I think we have better room to the next downwards zone arround 3700 If we break the 3700 area, i would bet that the price can go to the bullish trendline, and if the price breaks the resistance and the bearish trendline, the price could go to the 4100 region. The thing with btc and cryptos in general, is that the price are so volatile, that you have to wait for a break out, and if you want to be cautious, wait for a retest might be the best idea.
BITMEX:XBTEducation
by J_layseca