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Ascending Triangle

BTC Daily Chart 27th November 2023Although there was a recent breakout above the horizontal 38K resistance line, COINBASE:BTCUSD was unable to maintain above this level. We can see on the daily and 4h chart that BTC has evolved into an ascending triangle. Bullish scenario : An ascending triangle is usually a continuation pattern so more upside is possible if BTC manages to perform a (real) breakout above 38K. In such a case the upper ascending channel trendline will be back in effect creating resistance around 39K and 40K (40K being a psychological resistance and stronger than 39K IMO). Bearish scenario : If BTC doesn't stay above 37K it will dorp towards the lowest channel trendline which sits at 36-36,5K at the moment. If BTC has a breakdown from the ascending triangle we can see a further drop towards 32K for a retest (yes, I still haven't given up on the retest :-). On a longer timeframe, as long as we stay above 32K, the bullrun stays valid.
COINBASE:BTCUSD
by Bullissimo
💱 EURUSD - It's a stalemate. Falling or rising?A stalemate! News ahead: Prerequisites for the fall ↓: 1) False breakout and price consolidation below the channel resistance can send the price downward 2) A breakout of 0.382 Fibo may trigger a fall. 3) The price may reach the trend support as part of the correction 4) This decline may start on the background of bullish news in the US market. Prerequisites for growth ↑: 1) Price is rising and consolidating above 0.236 Fibo and above channel resistance 2) Weak news for the US market will send the pair up to 1.100.
Long
by AndeWave
3
GBPJPY → The bullish trend will continue, but... FX:GBPJPY is forming a set-up within the ascending channel, which predicts the continuation of the trend, but for this the price needs to overcome the resistance at 188.28. On D1 we can see that fundamentally and technically the national currency of Great Britain looks much stronger than the Japanese currency, although Tokyo has been trying hard to strengthen the currency lately, which technically works, but only against the background of the weakening of the dollar index. From the point of view of technical analysis, the price is pushing away from the support of the ascending channel and continues to forge the ascending triangle, a false breakdown of the resistance was formed earlier, but there is no fall, which could change the trend. The price is returning to the resistance, which only confirms the target level: 188.28. A break of this resistance will continue to form an impulse, which will only continue the trend. The moving averages are supporting the trend. Support levels: 186.8, 0.236 fibo, 0.382 fibo Resistance levels: 187.13, 187.55 188.28 The market outlook is bullish, at least for the moment. There are no prerequisites for a possible breakout of support, so we stick to the realization of the bullish scenario. Regards R. Linda!
Long
by RLinda
13
GBPUSD → False breakdown leads to correction before retest FX:GBPUSD reaches the previously mentioned target of 1.2726, a false breakdown of the liquidity area is formed and apparently a correction will be formed before the retest. The TVC:DXY opens with a small counter-trend correction from the opening, which has a corresponding effect on the Forex market. In all probability, the index will test the previously broken resistance: 102.77, 103.06. The outlook is bearish. The pound sterlnigov will form a small correction after a false breakdown of resistance. The nearest support that can be tested before is in the area of 1.2640 - 1.2620. Today the market expects the publication of the US GDP, in November the index rose to 4.9% against 2.1 in the previous period. Analysts expect that the index may remain unchanged at 4.9. This is the broadest indicator of economic activity and the main indicator of the state of the economy, so this fundamental factor will have a medium and long-term impact on the market. Support levels: 1.2640, 1.2620, 1.2560 Resistance levels: 1.2726 I expect correction after a false breakdown. Retest of the support may form another bullish potential before further growth. Regards R. Linda!
Long
by RLinda
4
TON → Strong fundamentals open up bullish potential OKX:TONUSDT has been demonstrating excellent fundamental data lately. The market is forming accumulation of bullish potential, which may soon move to the realization phase. The price is trading under the global descending resistance line. The market continues to form an ascending price channel. It is worth paying attention to the ascending triangle and false resistance breakout. The market does not allow a fall after the false breakout. What is not natural for the standard situation is that after the false breakout, the price forms a small pullback and returns to the 2.520 resistance for a retest. Clearly, Toncoin is now under the watch of a major buyer. The consolidation may soon move into a distribution phase, provided that the resistance is broken and the price consolidates above the red downtrend line. Moving averages are supporting the market. Resistance levels: 2.500, 2.600 Support levels: 2.329, 2.228 Bulls can keep the price below the support levels. A retest to resistance will increase the chances of its breakout, which is what I am waiting for. A break of 2.500-2.600 will form a bullish impulse. Regards R. Linda!
Long
by RLinda
1
I Cannot Short This !!! situation+next targets.LINKUSDT is in an ascending triangle which means the price is about to do a good bullish movement. The price can increase as much as the measured price movement ( AB=CD ) .The break out needed for increasing further has not happened but it should happen pretty soon. 🤑Stay awesome my friends. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️
Long
by CobraVanguard
3
GOLD → The market is ready to continue to growOANDA:XAUUSD is standing still on Thursday, which we were prepared for. The TVC:DXY opens with a subsequent decline on Friday, which gives bullish hopes for GOLD to strengthen. Let's breakdown: On the local timeframe, the prolonged consolidation is forming a symmetrical triangle, but as a strong support area is forming below the pattern and the price is consolidating above the key liquidity zones, the market may try to realize a bullish scenario. This will be facilitated by a break of the triangle resistance, in which case our target will be 2005 and 2010. Also, due to the fact that the price did not test the liquidity area below 1993, 1984, we have a chance to start another correction before further growth. On D1 gold is in a range and since support was tested earlier, resistance is still our prospect. The target is the upper boundary of the range - the area of 2010. Key support: 1993-1992, 1990, 1984 Key resistance: 1998, 2005, 2010 I expect a break of the pattern resistance with further growth to these targets, but since a large liquidity area was formed below the support, the market may test this area before further growth. Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
11
GBPUSD → Waiting for a breakthrough of 1.2560FX:GBPUSD after breaking the resistance of the ascending channel leads to a retest of the line in the format of a false breakout, indicating that the market is ready to continue its growth. The TVC:DXY forms a false breakout of resistance and on the peculiar fundamental background opens Friday with a slight fall, which appropriately affects the strengthening of the Pound Sterling. There is an important resistance level for the currency pair on D1: 1.2559 - 1.2560. The price is slowly and confidently approaching this area after a small pullback, which forms the third retest. The probability of resistance breakout increases with each test. The chance of this is also increased by the exit from the previously formed channel and the formation of pre-breakout consolidation near the key resistance. The strategy is simple: the breakthrough of resistance will be and price fixation on M5-M15 above the level will open the possibility to enter the market. (Or on a pullback (after the breakout) and on a test of 1.2560 as support. Resistance levels: 1.2560 Support levels: 1.2525, 1.25000 I expect that the next retest of the mentioned resistance will lead to the expected breakout with the subsequent price growth towards 1.2726. Regards R. Linda!
Long
by RLinda
8
ETHUSD ANALYSISThis corresponds to my bitcoin analysis from a few days ago. If this plays out, Ethereum is currently in a 4th wave (ascending triangle). Above this triangle is also the golden pocket level from the top in 2021. This corresponds to the 1-to-1 from the bottom of the triangle. I am now particularly looking at the level $2,000 - $2,300. On the lower timeframes, we also see that the RSI is correcting significantly, indicating one more push up to create divergence with the previous local top. If we can break above the $2,300 level and create a bullish momentum, then there is a high chance that we will see further growth towards the next resistance level around $2,500 - $2,800. On the other hand, if Ethereum is unable to break above the $2,300 level and no bullish momentum is formed, then there is a possibility of a downward movement. It is important to monitor the price action and technical indicators to assess whether the bullish expectations are confirmed or if a bearish reversal may occur. It is always wise to be cautious and set stop-loss levels to limit potential losses.
BITSTAMP:ETHUSDShort
by BeCryptosignals
5
#BTC: Bearish Ascending Triangle + Bearish Divergence Coming in.After a good and strong upward move Bitcoin seems to be in need of some breathing time which is very healthy btw in order to have a strong continuation. On this post I just wanted to pin point that our Stoch showing an overbought zone in addition to the bearish breakout of an ascending triangle on the 2H chart. The repeated rejection of Bitcoin's trail to break upwards can be taken as a confluence in the scenario too showing that buyers are at least for the very short term are getting out of energy. I am looking forward for Bitcoin to retrace towards the support area of $34,000 - $34,400. Further more on higher time frames we are witnessing a bearish divergence occurring.
Short
by cryptotalk_et
Trade Setup - Ascending triangle in PFCThe outperformance of this stock is likely to continue. The stock is gearing up for a ascending triangle breakout. The volume is shrinking (which is ideal during the pattern forming period and should pick up upon breakout) as the price is spending more time inside of this triangle. The stock is getting constant support from the rising trend line and 320 is the upper horizontal triangle boundary. upon decisive close above 320 the stock should swiftly move towards 330-335zone. CMP 316.25 SL 312.5 Target 330
NSE:PFCLong
by neeraj_2_sharma
Costco the case for higher highs maybe probableHI guys. This is an analysis thread to assess the technical developments found in Costco. I will layout some general findings on the macro scale, then update as new developments proceed in the technicals for COST. The purpose is to provide unbiased TA opinions, where i give both bearish or bullish cases depending on facts in charts to help make informed trading/investing decisions. Initial analysis will be on the 1 week timeframe. First things first. The 2 Ascending triangle patterns found. A blue one A black one Notice the Black triangle, this is a larger or more influential pattern developing since May 2022. It holds more wait if signs show we a breaking out of this. Targets would be $680-720 range. Confirmation of a test of support Above the horizontal upper black trendline is needed. This would indicate a continuation of COST previous uptrend, as Ascending triangles when confirmed are strong continuation patterns. The smaller Blue Ascending triangle seems like a intermediate term consolidation area as well. Notice how prices have consolidated Above the Black horizontal trendline of the bigger triangle, for weeks. We have closed Last week ABOVE Blue triangle. We must await confirmation of this breakout. This could mean we are breaking out of both Triangles. Look also to the 21 EMA (Purple colored moving average). We have recently bounced off of a support test. This is a great sign. This can be a future support test area also. But i always look at it as a level of defence. It has moved up to the $550 level. Overall, $550 level is critical support level now. Below it we go back into the larger ascending triangle, if we do go back below, this would indicate a fakeout. An important thing to observe is VOLUME. For this move to follow through, we must see an increase or spike in volume. Which currently doesn't seem like its there. Which could lead to a fakeout. So we must pay attention. Remember Volume can really make or break a move especially a chart pattern. Momentum indicators STOCH RSI and MACD are showing signs of bullishness STOCH RSI has a BULLISH CROSS. MACD is attempting to cross Bullish. If MACD crosses, this will give signs that uptrend is now more likely. Taking positions must be done after COnfirmation or a decisive move Up. Never take positions inside of a chart pattern, always consider entering after confirmation of breakout. __________________________________________________________________________________ Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again. Stay tuned for more updates on COST in the near future. If you have any questions, do reach out. Thank you again. DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
NASDAQ:COSTLong
by SafofAllTrades
Ascending Triangle on AUD/CAD @ H4This ascending triangle pattern has formed on the 4-hour chart of the AUD/CAD currency pair. It can be used as a short-term bullish breakout setup. The triangle's borders are marked with the yellow lines. My potential entry is marked with the cyan line (0.89235). My potential take-profit level is marked with the green line (0.90537). The stop-loss is to be set to the triangle's bottom point at 0.87643. Bearish breakouts from this continuation formation should be ignored.
Long
by AndriyMoraru
1
ZOMATO ZOOMING UP? 🚀Zomato Ltd has come a long way to form a ascending triangle pattern while respecting the upward sloping trendline. The stock also seems to be outperforming NIFTY Index. RSI levels too support the stock to zoom up new levels and break its previous zones from where it fell sharply. On the charts it looks like a breakout is imminent in the near term. Disclaimer: None of the posts here represent any buy/sell advice. Only sharing the analysis for educational purposes.
NSE:ZOMATOLong
by nikhilchhabra
INDUSIND BANK IS ABOUT TO HAVE A NICE UPWARDS RIDE...TECHNICAL INDICATORS : ASCENDING TRIANGLE BREAKOUT - The stock has broken out of the this pattern on weekly chart REVERSAL FROM 50D, 100D, 200D SMA - The stock has also reversed from all the 3 sma simultaneously indicating very strong upside pressure building up REVERSAL FROM STRONG SUPPORT-RESISTANCE ZONE - On top of that the stock has also reversed from a zone which had earlier acted as support and resistance level multiple times FUNDAMENTAL INDICATORS : BETTER PROFIT MARGIN POSTED COMPARED TO ITS PEERS ON THE LAST QUARTER - The stock has also posted almost double profit margin percentage compared to ICICI, Kotak Mahindra and so on. Only SBI has posted same profit margin as indusind and sbi is also trading above all the 3 sma on Daily, Weekly & Monthly timeframes indicating the strength of this stock's upside momentum
NSE:INDUSINDBKLong
by peace_lover
JSW STEEL BREAKS OUT OF ASCENDING TRIANGLE WITH HUGE PROFITS TECHNICAL ANALYSIS : ASCENDING TRIANGLE BREAKOUT - Price has broken out of the pattern 2-3 weeks back on weekly chart 50D & 100D SMA REVERSAL - Price has also taken support on 50D & 100D SMA simultaneously a few months back and have reversed from those levels since then VOLUME SPIKE - Price has shown volume spike on the previous week (10th july) BREAKOUT FROM STRONG SUPPORT-RESISTANCE ZONE - Price has broken out of the strong level which had earlier acted as a strong support zone FUNDAMENTAL ANALYSIS : OUTSTANDING EPS COMPARED TO PEERS - Its mar'23 eps was ~12 compared to meagre 1.40 eps of its competitor OUTSTANDING EBIT MARGIN COMPARED TO PEERS - Its mar"23 ebit margin was ~12 compared to meagre ~7 of its competitor OUTSTANDING NET PROFIT MARGIN COMPARED TO PEERS - Its mar"23 net profit margin was ~7 compared to meagre ~2 of its competitor TRIPLE PROFITS ON CURRENT QUARTER - On top of everything they have also posted almost triple profits in jun quarter'23 giving more convictions to the prediction TAKE PROFIT & STOP LOSS - TP - 1028 SL - 740
NSE:JSWSTEELLong
by peace_lover