PPT formed a symmetrical triangle. Target + 100%
Updated
PPT formed a symmetrical triangle. The goal of working out the figure is + 100%, across the width of the widest part. It's funny that the first serious resistance is just at a height of + 100%. Now the price is inside this formation. Price made two waves, thereby starting to form a triangle. There are no clear rules with how many waves a triangle should consist of. It is important that with each new wave, price and volatility shrink and the moment will come when the price will be forced to or go beyond the aisles of the triangle up / down. Symmetrical triangle are figures of uncertainty, they work out up / down in a ratio of 50/50. All the pivot points on which further movement depends I depicted on the chart.
Levels and goals are likewise shown in the graph.
The entrance is at a breakout of a triangle or at a rollback depending on who is trading. It is not the breakthrough itself that matters, but the fixing of the price above the breakout.
Stop loss - not the size of stop loss is important, but the point of entry into the market and control of what is happening.
Also, pay attention to the last time when there was a similar triangle on the chart, how artificially knocked down the stop loss, for those who work clearly according to the rules of TA books. And without passengers, the price increase is + 100% from the zone of the breakthrough of the triangle. Or + 133% from the lowest point.
It’s stupid to trade now, to know where people put a stop loss and not use it. Not knocked down stop loss, means that when the price rises, these people will sell you + xxx%. Why feed freeloaders? This is a game who is smarter and more adaptive is always the winner.
_____________________________________
I trade this coin from time to time.
Here is a trading idea for September 24th. PPT Symmetrical Triangle. The first goal is 33%. Merged into 164 X!
In a few days + 21% + rollback
+66%
Again the triangle and the target + 38%
Taken + 38%
Descending triangle. High probability of breaking down
Breakthrough and momentum + 64%
As we can see, the coin is quite volatile and profitable with skillful work and understanding of what is happening.
________________________________________
There are four types of triangles:
1) The ascending triangle.
2) The downward triangle.
3) Symmetric triangle.
4) A diverging triangle.
______________________________________________
In this formation, we are forming a symmetrical triangle, and we will consider it.
The figure is a symmetrical triangle is a very common figure, which does not have a pronounced direction, as it is characterized by a balance between supply and demand. 50/50. The figure is formed of two converging lines (resistance line and support line). The intersection of these lines is called the top of the triangle. The amplitude of fluctuations within the figure decreases, as indicators of trade volume gradually decrease. Support and resistance lines have equal angles of inclination. This triangle shape resembles an isosceles triangle when the bisector divides it exactly in half (pink line).
The price when breaking through a triangle can go both up and down. You need to understand that this model of a triangle gives a chance to go up or down in a ratio of 50/50. In such models it is very important to work from the situation.
_________________________________________
Definition of the Symmetric Triangle shape.
1) Support and resistance lines have equal angles of inclination.
2) The lines of support and resistance move towards each other at an angle and intersect. The intersection of these lines is called the top of the triangle.
3) The line of resistance of the triangle has a slope and moves down, each wave maximum inside the triangle is lower each time.
4) the triangle support line has a slope and rises up. Each subsequent minimum must be higher than the previous one.
_________________________________________
Features to which you should pay attention when forming this model of a figure.
1) There must be a minimum of 4 points of contact 2 touches to the ascending line of support and 2 to the descending line of resistance. Then later touch points on both sides should tend toward the horizontal center of the triangle. And it is worth noting that the more points of contact, the more reliable the figure.
2) The trading volume as the formation of the figure should decrease.
3) if inside the symmetric triangle (component of the triangle wave) the price increase is accompanied by an increase in volume indicators, then it is most likely that the figure will be broken up. And vice versa, if inside a symmetrical triangle a price drop is accompanied by an increase in volume indicators, then most likely the figure will be broken down. Do not forget to look in the tape of sales.
4) The ideal moment for a breakthrough is considered to be the moment starting from half to 3/4 of the figure. A break in the first half of the figure, as a rule, turns out to be premature, and in its last quarter, most likely, will be insignificant.
5) Symmetric (isosceles) triangle - a figure of the continuation of the trend. Most likely, the price will break through the support / resistance level and go in the direction of the trend. This is in most cases. It happens that an isosceles triangle reverses the trend. The direction of the price movement depends on the side on which the price has left the figure. Therefore, the direction of the price movement into which the triangle made its way, rather than the previous trend, is more important. A symmetrical triangle can very rarely reverse a trend.
6) the proximity of significant levels of support / resistance can also affect the direction of price movement.
7) Sometimes, the horizontal center of the triangle becomes a line of support or resistance (pink line in the picture).
8) If the upper resistance line has been broken, it becomes a support line. The broken bottom support line later becomes a resistance line. Sometimes after breaking through the price as a result of correction may temporarily return to this line.
9) The breakthrough of the figure should be convincing. It is desirable that a breakthrough in the direction of the dominant trend be accompanied by an increase in trading volume. When breaking against the trend, a sharp increase in trading volume is a prerequisite for confirmation.
10) An important breakthrough is not so important, namely, fixing the price outside of support / resistance.
11) The goal when working out a symmetrical triangle after a breakthrough is equal to the absolute value of the base (the widest part of the triangle) added to the price exit point.
_____________________________________________
The purpose of practicing the figure according to the rules of TA.
The goal of practicing the figure is equal to the height of the widest part of the "Symmetric Triangle." We measure the distance of the widest part of the figure and debug it up / down from the breakthrough point of the triangle.
When setting goals on a figure, it is very important to consider local support / resistance levels.
Levels and goals are likewise shown in the graph.
The entrance is at a breakout of a triangle or at a rollback depending on who is trading. It is not the breakthrough itself that matters, but the fixing of the price above the breakout.
Stop loss - not the size of stop loss is important, but the point of entry into the market and control of what is happening.
Also, pay attention to the last time when there was a similar triangle on the chart, how artificially knocked down the stop loss, for those who work clearly according to the rules of TA books. And without passengers, the price increase is + 100% from the zone of the breakthrough of the triangle. Or + 133% from the lowest point.
It’s stupid to trade now, to know where people put a stop loss and not use it. Not knocked down stop loss, means that when the price rises, these people will sell you + xxx%. Why feed freeloaders? This is a game who is smarter and more adaptive is always the winner.
_____________________________________
I trade this coin from time to time.
Here is a trading idea for September 24th. PPT Symmetrical Triangle. The first goal is 33%. Merged into 164 X!
In a few days + 21% + rollback
+66%
Again the triangle and the target + 38%
Taken + 38%
Descending triangle. High probability of breaking down
Breakthrough and momentum + 64%
As we can see, the coin is quite volatile and profitable with skillful work and understanding of what is happening.
________________________________________
There are four types of triangles:
1) The ascending triangle.
2) The downward triangle.
3) Symmetric triangle.
4) A diverging triangle.
______________________________________________
In this formation, we are forming a symmetrical triangle, and we will consider it.
The figure is a symmetrical triangle is a very common figure, which does not have a pronounced direction, as it is characterized by a balance between supply and demand. 50/50. The figure is formed of two converging lines (resistance line and support line). The intersection of these lines is called the top of the triangle. The amplitude of fluctuations within the figure decreases, as indicators of trade volume gradually decrease. Support and resistance lines have equal angles of inclination. This triangle shape resembles an isosceles triangle when the bisector divides it exactly in half (pink line).
The price when breaking through a triangle can go both up and down. You need to understand that this model of a triangle gives a chance to go up or down in a ratio of 50/50. In such models it is very important to work from the situation.
_________________________________________
Definition of the Symmetric Triangle shape.
1) Support and resistance lines have equal angles of inclination.
2) The lines of support and resistance move towards each other at an angle and intersect. The intersection of these lines is called the top of the triangle.
3) The line of resistance of the triangle has a slope and moves down, each wave maximum inside the triangle is lower each time.
4) the triangle support line has a slope and rises up. Each subsequent minimum must be higher than the previous one.
_________________________________________
Features to which you should pay attention when forming this model of a figure.
1) There must be a minimum of 4 points of contact 2 touches to the ascending line of support and 2 to the descending line of resistance. Then later touch points on both sides should tend toward the horizontal center of the triangle. And it is worth noting that the more points of contact, the more reliable the figure.
2) The trading volume as the formation of the figure should decrease.
3) if inside the symmetric triangle (component of the triangle wave) the price increase is accompanied by an increase in volume indicators, then it is most likely that the figure will be broken up. And vice versa, if inside a symmetrical triangle a price drop is accompanied by an increase in volume indicators, then most likely the figure will be broken down. Do not forget to look in the tape of sales.
4) The ideal moment for a breakthrough is considered to be the moment starting from half to 3/4 of the figure. A break in the first half of the figure, as a rule, turns out to be premature, and in its last quarter, most likely, will be insignificant.
5) Symmetric (isosceles) triangle - a figure of the continuation of the trend. Most likely, the price will break through the support / resistance level and go in the direction of the trend. This is in most cases. It happens that an isosceles triangle reverses the trend. The direction of the price movement depends on the side on which the price has left the figure. Therefore, the direction of the price movement into which the triangle made its way, rather than the previous trend, is more important. A symmetrical triangle can very rarely reverse a trend.
6) the proximity of significant levels of support / resistance can also affect the direction of price movement.
7) Sometimes, the horizontal center of the triangle becomes a line of support or resistance (pink line in the picture).
8) If the upper resistance line has been broken, it becomes a support line. The broken bottom support line later becomes a resistance line. Sometimes after breaking through the price as a result of correction may temporarily return to this line.
9) The breakthrough of the figure should be convincing. It is desirable that a breakthrough in the direction of the dominant trend be accompanied by an increase in trading volume. When breaking against the trend, a sharp increase in trading volume is a prerequisite for confirmation.
10) An important breakthrough is not so important, namely, fixing the price outside of support / resistance.
11) The goal when working out a symmetrical triangle after a breakthrough is equal to the absolute value of the base (the widest part of the triangle) added to the price exit point.
_____________________________________________
The purpose of practicing the figure according to the rules of TA.
The goal of practicing the figure is equal to the height of the widest part of the "Symmetric Triangle." We measure the distance of the widest part of the figure and debug it up / down from the breakthrough point of the triangle.
When setting goals on a figure, it is very important to consider local support / resistance levels.
Note
Everything goes according to plan, the third wave is drawn inside the symmetric triangle + 20%Note
Note
Pivot points. If we keep the price above the downtrend triangle, then there is a high probability of working out the goals of the triangle.
If the price breaks the upper boundary of the triangle and fixes under it, then there is a high probability of the formation of a third of the internal wave of the triangle and clamping the price for strong movement.
Note
Trade closed: target reached
Note
PPT / BTC Falling Wedge. Reversal zones. Work on a coin.
Trade closed: target reached
+85%
Note
Trade closed: target reached
2 target taken after 12 days + 140%
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