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Trianglepattren

EURCAD: Anticipating triangle formation and bullish breakoutHello traders, Here is my detailed long-term Market analysis of EURCAD. This is intended to educate those who might be new or at their intermediate level in Elliott wave theory. The EURCAD currency pair is currently exhibiting a sideways trend, which is characterized by relatively stable price movement within a confined range. This type of market behavior often precedes significant price movements once the consolidation phase ends. Analysis Highlights 1. Sideways Range and Potential Triangle Pattern Sideways Range : The EURCAD pair has been trading within a horizontal range, indicating a period of consolidation where neither bulls nor bears have a definitive upper hand. Triangle Pattern Formation : This range is likely forming a triangle pattern. In Elliott Wave Theory, a triangle is a corrective wave pattern typically observed in wave (B) of a zigzag correction or wave 4 in an impulse wave sequence. Wave (B) of Zigzag : The ongoing formation suggests that the triangle could be wave (B) of a larger zigzag pattern, which generally consists of three waves: A, B, and C. The zigzag pattern typically appears in a corrective phase. 2. Anticipated Impulsive Upward Move Completion of the Triangle : Once the triangle pattern completes, it is expected to be followed by an impulsive wave (C). This is typically a strong, directional move which would be upward in this case. Confirmation : For the bullish outlook to be validated, the completion of the triangle pattern in all its constituent waves (labeled A, B, C, D, and E) is crucial. 3. Key Points for a Bullish Outlook Triangle Completion : Wait for the triangle pattern to fully form, completing all its waves. Breakout Confirmation : Look for a breakout above the triangle's upper boundary and a key resistance level. 4. Target and invalidation levels 1.62284 Level: The minimum target for the anticipated upward wave. Invalidation level: When price move below wave C of the triangle. I hope this helps. Cheers and happy trading!
Long
by Samuel124
AUD/USDHello Agn, I wanted to give you an update on my previous analysis of this pair. Yesterday, we entered into a downtrend as it moved in our favor. Now, it's at the bottom of the triangle and facing a dynamic resistance level. The price has moved about two-thirds of the pattern, and it's about time to start moving in. Make sure to stay focused and only enter with confirmation. Always put a stop-loss in place because no one in this market can act as a god and forecast with 100% liability. It took me years to understand this, and I always try to teach it to my students. Remember, rock hard and thank me later.
Short
by Cryptosours
KASPA THE END OF A TRIANGLE !After numerous encounters with both the rising and falling trendlines, we find ourselves in a tight consolidation phase, poised for a breakout in either direction. The potential range for this breakout could be as significant as 48%. Scenario 1: Bearish Breakout If the price breaks below the descending trendline and subsequently breaches the 0.1317 support level, we could witness a Increase towards the subsequent targets of 0.1526 and 0.1835, respectively. Scenario 2: Bullish Breakout Conversely, if the price manages to break above the ascending trendline and then surpasses the 0.0975 resistance level, we could anticipate a Decrease towards the targets of 0.078 and 0.052. Confirmation of Breakout It is crucial to note that a breakout is considered confirmed only when the price closes a candle above or below the respective trendline or support/resistance level on the 4-hour timeframe. Additional Considerations While the above scenarios outline potential price movements, it is essential to acknowledge that market behavior is inherently unpredictable and can deviate from these projections. Therefore, it is advisable to incorporate additional technical indicators and fundamental analysis into your trading decisions to enhance risk management and make informed judgments. And these are just my analysis and not economic advice, you should enter into trades based on your own knowledge and analysis.
by Crypto-Oracle1
Consolidation in COAL INDIA - Expect a 15% upmove post breakout COAL INDIA - is nearing its 52 week high with decreasing supply on a daily time frame with a consolidation from the past 100 days. The company has seen an influx of institutional investing. Coal has also been a silent performer and will only increase with the dependency on the product. Good for swing traders to be kept on watchlist. Look for volume gain above the 30w moving average on weekly time frame. Can expect an upward momentum of a min of 25%. Entry - On breakout - INR 455 and above. SL - swing low of 3% TSL - According to your risk profile. Disclaimer: Please be advised that the information provided is not intended as financial advice. It is imperative to conduct thorough research before making any investment or trading decisions.
NSE:COALINDIALong
by Rokdevildivine
Gold (Xau/Usd) Symmetrical TriangleSymmetrical Triangle Pattern on Gold (XAU/USD) H1 Chart A symmetrical triangle pattern has been identified on the H1 chart for Gold (XAU/USD). Here's a breakdown of its characteristics: Description: This pattern is formed by two converging trendlines, one drawn above the highs and another below the lows, with price action oscillating between them and creating a triangular shape. The trendlines ideally have a similar slope, making the triangle symmetrical. Potential Interpretations: Continuation Pattern: Often, symmetrical triangles act as continuation patterns. If the price breaks above the resistance trendline (upper trendline), it suggests a potential continuation of the previous uptrend. Conversely, a break below the support trendline (lower trendline) might indicate a continuation of the downtrend. Reversal Pattern: In some cases, symmetrical triangles can precede reversals. A breakout above resistance could signal a bullish reversal, while a breakdown below support might indicate a bearish reversal. Additional Considerations: Volume: Ideally, there should be a decrease in volume as the triangle progresses, suggesting dwindling momentum before the breakout. Volatility: A breakout is often accompanied by a surge in volatility. Trading the Pattern: Breakout Confirmation: Wait for a confirmed breakout above resistance or below support before entering a trade in the direction of the breakout. Stop-Loss: Place a stop-loss order below the support trendline for long positions and above the resistance trendline for short positions. Profit Target: Potential profit targets can be based on the height of the triangle or technical indicators. Thank you.
OANDA:XAUUSDLong
by KABHI_TA_TRADING
8
Don't Trade Patterns in 2024 - They are mostly FAKE BTC has been trading in a triangle pattern on the daily timeframe. Many traders are trading pattern breakouts, for example, if the price breaks above the upper trendline of the triangle, they open a long position. However, in reality, all that happens is that liquidity is collected and the price moves lower. Then the same thing happens under the lower trendline support, and the price moves higher. The dangers of pattern trading: Pattern trading is a popular trading strategy, but it can be risky. Patterns can be deceptive, and they can often break in unexpected ways. This can lead to significant losses for traders who are not careful. The rise of AI indicators: Artificial intelligence (AI) is increasingly being used in trading. AI indicators can analyze vast amounts of data and identify patterns that are invisible to the human eye. This can help traders to make more informed decisions. The benefits of AI trading: AI trading can offer several benefits over traditional pattern trading. AI indicators can: Identify patterns more accurately React to market changes faster Remove emotions from the trading process The future of trading: AI is likely to play an increasingly important role in trading in the future. AI indicators can help traders to make more informed decisions and reduce their risk. As AI technology continues to develop, we can expect to see even more sophisticated AI indicators that can help traders to profit from the markets.
Long
by Yaroslav_Krasko
2
USD/JPY ⬆️ Long Trade Setup ⬆️Hello Everyone 🙋🏽‍♂️ Triangle pattern + RSI Signal 💲 Entry Point : 143.571 🟢 TP 151.922 🔴 SL 139.473 We are not responsible of any losses for anyone, our trades are profitable more for long terms and we take losses as everyone, manage your lot size as well and your SL and TP and my opinion is 0.01 lot for each 500 $. Don't forget to hit the like bottom and write a comment to support us. Follow us for more 🙋🏻‍♂️ Best Regard / EMA Trading . Disclaimer: ---------------- It's not a financial advise, As everyone we take losses sometime but for long term trading we are profitable traders, so manage your account well with SL and TP and your lot size to keep your account safe and stay in the market
Long
by EMA_Trading
6
Sell USDCAD - H1 Ascending TriangleUSD/CAD H1: Ascending Triangle Hints at Potential Downturn, Shorting Opportunity Emerges! The USD/CAD pair on the H1 timeframe presents a potential selling opportunity due to the presence of a well-defined ascending triangle pattern. While ascending triangles can be continuation patterns, a breakdown from this pattern, especially on higher timeframes like H1, suggests a higher likelihood of a trend reversal towards the downside. Key Points: Sell Entry: Consider entering a short position below (ideally around 1.3600). This offers an entry point close to the perceived shift in momentum. Target Levels: The initial bearish target lies at 1.3460. Stop-Loss: To manage risk, place a stop-loss order above the broken resistance line (rising trendline) of the triangle, ideally around 1.3630. Thank you.
Short
by KABHI_TA_TRADING
9
Buy EURUSD News BasedThe EUR/USD pair on the M30 timeframe presents a potentially ambiguous situation with an expanding triangle pattern. While this pattern can signal a breakout in either direction, some caution is advised before entering a long (buy) position. Potential Long Trade : Entry around: 1.0823 (current price) Target Levels: 1.0880: This represents the upper trendline of the triangle, which could act as the initial upside target upon a confirmed breakout. 1.0900: This is a further extension of the upside target, based on the recent price movement. Stop-Loss: Place a stop-loss order below the lower trendline of the triangle, ideally around 1.0807. This helps limit potential losses if the price breaks down from the triangle pattern. Thank you.
Long
by KABHI_TA_TRADING
2