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Ascending Triangle

GBPJPY → Bull market continues to push price after shakeout FX:GBPJPY continues to form a bullish trend. A flat is forming within the ascending price channel and another retest of support leads to a bullish impulse Earlier on the chart we see a strong spike down. A false break of support forms a shakeout in the market, a huge amount of volume is involved and in tandem with unstable fundamentals for the Japanese Yen, it predictably affects the pricing of currency pairs. For us the key role within the flat plays resistance 184.55 and support 183.7. Break of one of the zones with the subsequent consolidation of the price above the line will form the potential for movement in one direction or another. I am expecting growth from 184.55 as a priority. The medium-term target for us will be the resistance area of 186.765. The price is also testing MA-50 and an impulse will be formed in case of breakout. Support levels: 183.700 Resistance levels: 184.55 I expect the continuation of growth in priority. The price can also test the support with a false breakout, but the medium-term potential remains the same. Regards R. Linda!
Long
by RLinda
15
ASTER DM HEALTHCARE LTD - Ascending Triangle Breakout📊 Script: ASTERDM (ASTER DM HEALTHCARE LIMITED) 📊 Nifty50 Stock: NO 📊 Sectoral Index: NIFTY 500 / NIFTY SMALLCAP / NIFTY PHARMA 📊 Sector: Healthcare 📊 Industry: Healthcare Services - Hospital Key highlights: 💡⚡ 📈 Script is trading at upper band of Bollinger Bands (BB) and giving breakout of it. 📈 MACD is giving crossover. 📈 Double Moving Averages also giving crossover. 📈 Volume is increasing along with price which is volume breakout. 📈 Script is giving breakout of Ascending Triangle. 📈 Current RSI is around 65. 📈 One can go for Swing Trade. ⏱️ C.M.P 📑💰- 265.55 🟢 Target 🎯🏆 - 304 ⚠️ Stoploss ☠️🚫 - 247 ⚠️ Important: Always maintain your Risk & Reward Ratio. ⚠️ Purely technical based pick. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat🔁 Happy learning with trading. Cheers!🥂
NSE:ASTERDMLong
by radha_23
1
HFCL - Double Digit + Smallcap + Breakout Soon📊 Script: HFCL (HFCL LIMITED) 📊 Nifty50 Stock: NO 📊 Sectoral Index: NIFTY 500 / NIFTY SMALL CAP 📊 Sector: Telecommunication 📊 Industry: Telecom - Infrastructure DAILY TIMEFRAME Key highlights: 💡⚡ 📈 Script is trading at upper band of Bollinger Bands (BB) and giving breakout of it. 📈 MACD line is taking support of signal line and bounce back from there. 📈 Double Moving Averages already giving crossover. 📈 Volume is increasing along with price which is volume breakout. 📈 Script is going to give breakout of ascending triangle in Weekly and Daily chart. 📈 Current RSI is around 64. 📈 One can go for Swing Trade. ⏱️ C.M.P 📑💰- 82.70 🟢 Target 🎯🏆 - 95 ⚠️ Stoploss ☠️🚫 - 75 ⚠️ Important: Always maintain your Risk & Reward Ratio. ⚠️ Purely technical based pick. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat🔁 Happy learning with trading. Cheers!🥂
NSE:HFCLLong
by radha_23
4
💱 CADJPY - An ascending triangle has been forming for a month CADJPY is gaining a strong resistance area of 108.000. Price continues to test the resistance in an ascending triangle format over the month. TA on the high timeframe: 1) We see an interesting pattern: a limit resistance level in the 108.000 area and a gradual pushing of the price towards this area 2) Minimums that are not updated, but growing. 3) Buyers have their own plan and continue to retest the resistance area. TA on the low timeframe: 1) The ascending triangle and frequent resistance level retests speak for themselves 2) The 108 level separates the market from a strong and sustained upward move. 3) Price may make a false breakdown of support and start testing the resistance area again. Key support📉: rising line, 107.087 Key resistance📈: 108.123
Long
by AndeWave
11
What's the next move ?The CMP(current market price) is at weekly resistance zone. Below scenarios can happen: 1. Bear :: If a daily candle closes below 82.5920, advisable not to enter the market as the triangle is about to converge leading to triangle breakout & also the Risk: Reward ratio would be small. 2. Bull :: If a weekly closes above 83.2850, this is a ascending triangle breakout. The target for the weekly breakout will be 86.7317. This target will take time to reach. Best advisable to add 1 or 2 lots in far out of the expiry(like 3 or 6 months far expiry after the breakout)
by the_paradox
USDCHF → The currency pair may break through resistance FX:USDCHF continues to strengthen within the ascending triangle. The price is retesting the trend resistance. What can happen? As we can see on the chart on the bottom left, the currency pair is forming a consolidation relative to a strong resistance area. The mentioned accumulation, when moving to the phase of implementation is able to change the direction of the trend, in this case, the global downtrend will begin to change its direction following the dollar index. DXY breaks the key resistance and on the basis of fundamental factors begins the implementation of the strengthening strategy. The USDCHF currency pair may go to 0.89088 if the resistance of the descending channel is broken. Support levels: 0.87779 Resistance levels: 0.88133, 0.88250 I expect a small bounce from resistance and further retest of the area, which may break the resistance and trigger a rise in the market. Regards R. Linda!
Long
by RLinda
18
CADJPY → Ascending triangle. Waiting for a breakthrough FX:CADJPY is forming a local upward trend. The currency pair is gaining resistance at 108.12 and forming an ascending triangle, most likely we will see some development in the near future. The currencies are weakening on the background of fundamental and geopolitical nuances, but the currency pair is getting stronger, overcoming one of the key levels at 107.6. Globally, CADJPY is in a bullish trend, but for the last few weeks the price has been stopping and forming a flat. Within the flat we see prerequisites for further growth. Earlier, the SMAs were tested, which now act as support. Resistance levels: 108.12 109.47 Support levels: 107.6, pattern support According to the mentioned prerequisites, I expect a retest of the figure resistance with further breakout and growth to the mentioned resistance. Regards R. Linda!
Long
by RLinda
8
TRADING SYMMETRICAL⬇️⬆️🔄 ASCENDING📈 DESCENDING📉🔻⬇️TRIANGLES Hello traders, today we will delve into three types of triangles, which are significant chart patterns providing valuable insights into potential market movements. Understanding these patterns can play a pivotal role in making well-informed trading decisions. Let's explore each type and learn how to identify and interpret them effectively. **1. Symmetrical Triangle:** The symmetrical triangle pattern is formed by a series of lower highs and higher lows, resulting in converging trendlines. It indicates a period of market consolidation, where the price oscillates between lower highs and higher lows, signaling an imminent breakout in either direction. **Key Characteristics:** - **Shape:** Resembles a triangle, with converging trendlines. The horizontal resistance line connects the price highs, while the rising trendline connects the higher lows. - **Duration:** Can take several weeks or even months to form, depending on the time frame being analyzed. - **Volume:** As the symmetrical triangle develops, the trading volume tends to diminish. However, during the breakout, there may be an increase in volume, confirming the validity of the pattern. - **Breakout:** The pattern is confirmed once the price breaks decisively above the horizontal resistance line (bullish breakout) or below the rising trendline (bearish breakout). - **Price Target:** To estimate the potential price target after the breakout, measure the height of the triangle at its widest point (the distance between the highest high and lowest low within the triangle) and project it in the direction of the breakout. - **Stop Loss:** Traders typically place their stop-loss orders just outside the triangle, slightly beyond the opposite trendline from the direction of the breakout, to protect against false breakouts. Traders often enter a long (buy) position when the price breaks above the horizontal resistance line with a significant increase in volume or below the rising trendline in the case of a bearish breakout. **Limitations:** - **False Breakouts:** Sometimes, the price may briefly break above the resistance line or below the rising trendline, only to reverse in the opposite direction, causing a false breakout. Waiting for confirmation is crucial to avoid getting trapped in false signals - **Market Context:** While the symmetrical triangle indicates potential continuation, it's essential to consider the broader market context and use other technical indicators or fundamental analysis to support trading decisions. **2. Ascending Triangle:** The ascending triangle pattern is a bullish chart pattern that forms during an uptrend and represents a continuation pattern. It is formed by a horizontal resistance level and an upward-sloping trendline acting as support. This pattern suggests that buying pressure is gradually intensifying, and a breakout above the horizontal resistance may trigger a bullish move. **Key Characteristics:** - **Shape:** Resembles a triangle, where the horizontal resistance line connects two or more price highs, and the rising trendline connects higher lows. - **Duration:** The pattern can take several weeks or even months to form, depending on the time frame being analyzed. - **Volume:** Volume tends to diminish as the pattern develops. However, during the breakout, there is often an increase in volume, confirming the pattern's validity. - **Breakout:** The pattern is confirmed once the price breaks above the horizontal resistance line. The breakout is considered a bullish signal, suggesting that the upward trend is likely to continue. - **Price Target:** To estimate the potential price target after the breakout, measure the height of the triangle's base (the distance between the horizontal resistance line and the rising trendline) and project it upward from the breakout point. - **Stop Loss:** Traders typically place their stop-loss orders just below the rising trendline to protect against a false breakout. **Trading the ascending triangle:** - **Entry:** Traders often enter a long (buy) position when the price breaks above the horizontal resistance line with a surge in volume. - **Stop Loss:** The stop-loss level is usually set just below the rising trendline. - **Take Profit:** The take-profit level is determined using the measured move method by adding the height of the triangle's base to the breakout point. - **Confirmation:** It is crucial to wait for a clear breakout before entering the trade, as false breakouts can occur. A significant increase in volume during the breakout is often considered a strong confirmation signal. **Limitations:** - **False breakouts:** Sometimes, the price may break above the resistance line temporarily and then reverse lower, causing a false breakout. It is essential to wait for a clear confirmation. - **Market context:** While the ascending triangle is a bullish pattern, it's important to consider the broader market context and analyze other indicators to confirm the likelihood of the pattern leading to a successful trade. **3. Descending Triangle:** The descending triangle pattern is a bearish chart pattern that forms during a downtrend and represents a continuation pattern. It is formed by a horizontal support level and a downward-sloping trendline as resistance. This pattern indicates that selling pressure is progressively strengthening, and a breakdown below the horizontal support might lead to a bearish move. **Key Characteristics:** - **Shape:** Resembles a triangle, where the horizontal support line connects two or more price lows, and the downward-sloping trendline connects lower highs. - **Duration:** The pattern can take several weeks or even months to form, depending on the time frame being analyzed. - **Volume:** Volume tends to diminish as the pattern develops. However, during the breakdown, there is often an increase in volume, confirming the pattern's validity. - **Breakdown:** The pattern is confirmed once the price breaks below the horizontal support line. The breakdown is considered a bearish signal, suggesting that the downtrend is likely to continue. - **Price Target:** To estimate the potential price target after the breakdown, measure the height of the triangle's base (the distance between the horizontal support line and the downward-sloping trendline) and project it downward from the breakdown point. - **Stop Loss:** Traders typically place their stop-loss orders just above the downward-sloping trendline to protect against a false breakdown. **Trading the descending triangle:** - **Entry:** Traders often enter a short (sell) position when the price breaks below the horizontal support line with a surge in volume. - **Stop Loss:** The stop-loss level is usually set just above the downward-sloping trendline. - **Take Profit:** The take-profit level is determined using the measured move method by subtracting the height of the triangle's base from the breakdown point. - **Confirmation:** It is crucial to wait for a clear breakdown before entering the trade, as false breakdowns can occur. A significant increase in volume during the breakdown is often considered a strong confirmation signal. **Limitations:** - **False breakdowns:** Sometimes, the price may break below the support line temporarily and then reverse higher, causing a false breakdown . It is essential to wait for a clear confirmation. - **Market context:** While the descending triangle is a bearish pattern, it's important to consider the broader market context and analyze other indicators to confirm the likelihood of the pattern leading to a successful trade. **In conclusion, understanding these triangle patterns can provide valuable insights into potential market movements. Traders should use them as part of their technical analysis toolkit and combine them with other forms of analysis to make well-informed trading decisions. Happy trading! 📈💹** TCPLTP
Education
by TradeChartPatternsLikeThePros
2
Ascending Triangle on GBP/NZD @ D1An ascending triangle pattern appeared on the daily chart of the GBP/NZD currency pair. I am going to use this continuation chart pattern for a bullish breakout opportunity. The triangle's borders are marked with the yellow lines. My potential entry is marked with the cyan line. My potential take-profit level is marked with the green line. The stop-loss is to be set to the triangle's bottom point at 2.03382. I will ignore bearish breakouts from this formation.
Long
by AndriyMoraru
ETHUSDT → Retest of MA200 and trend supportBINANCE:ETHUSDT is testing a strong support area in the correction phase amid a bullish global trend. Bitcoin is falling and dragging the whole market with it The price of Efirium is testing the support of the ascending triangle - this set-up is now global. At the same time, the price is testing the MA-200 (daily), which supports the trend. In our case, if this retest turns out to be false and the price forms a false breakout and is able to consolidate above the MA-200 and above the 1800 level, then the market may switch to a bullish direction again. In this case, the scenario will start to develop, which includes price growth to 2020 and in the medium term to 2457. While bitcoin is dragging the whole market down, it will be hard for altcoins to break out upwards. At the moment, the moving averages are clamping down on the price, with the coin trading in a narrow range. Support levels: 1800, MA200 Resistance levels: 1872, MA50, 1900 In priority I am waiting for a false breakdown and continuation of the ascending triangle formation. Regards R. Linda!
Long
by RLinda
9
💱EURCAD - Ascending triangle EURCAD continues its bullish trend. The price is testing the resistance on the background of upward movement. There is a chance for a quick breakout TA on the high timeframe: 1) Accumulation is formed near the level of 1.47728. At the next retest, the price may break the resistance 2) The liquidity area of interest for the price is above 1.48560. TA on the low timeframe: 1) A triangle is forming 2) Price bounces off the support on the background of a bullish trend 3) A retest of resistance is forming, increasing the chance for a breakout Key resistance📈: 1.47600, 1.4796 Key support📉: 1.4700, 1.4654
Long
by AndeWave
4
BTCUSD → A logical correction will test a strong support area BITSTAMP:BTCUSD continues to form a global ascending price channel. The actual counter-trend correction at the moment does not indicate any change of trend, an adequate reaction to the strong resistance area formed back in 2021 is being formed. The price on the daily chart is forming a local support line 28850, a pre-breakdown consolidation and false breakdown is formed, there is no reaction in the form of a rebound, and the price continues to form a squeeze to the support. In the near future 28850 may be broken and the price will test 28450, a false breakdown is possible. Also within this correction the price may test the support of the ascending triangle and 200-day moving average. The price may technically decline in order to purchase the asset at more favorable prices. The cryptocurrency market emphasizes more on fundamentals than on technical analysis, it plays a secondary role in this partnership. Crypto players are waiting for some news to activate the movement in one direction or another. Interesting nuances recently: 1) Approval of the spot BTC-ETF will lead to billions of dollars of non-investment inflows into the market 2) The government has stepped up BTC protagging for June-July 3) Mainers collectively stopped selling and started accumulating BTC. Their reserves are growing 4) Minimal liquidity is accumulating strong consolidation. A surge in volumes may follow in the near future Strong support levels: 28850, 28450, figure support, MA-200 Strong resistance levels: 29650, 30575, figure resistance. This correction is a logical move in the market. The price can't grow all the time. I expect bullish activity after retesting the support area. Regards R. Linda!
BITSTAMP:BTCUSDLong
by RLinda
23
💱EURNZD - The price is preparing for a breakout and a riseEURNZD is forming an ascending triangle and for the past few hours, the currency pair has been showing potential that is preparing the price for upward movement TA on high timeframe: 1) A retest of 1.8000 is forming 2) Consolidation near liquidity on the resistance side TA on the low timeframe: 1) An ascending triangle is forming 2) Price into the range and consolidates near resistance 3) Pre-breakout consolidation is forming 4) Breakout of 1.8000 will send the price to 1.81000 5) Medium-term potential is to rise to 1.83000 Key support: 1.79270 Key resistance: 1.80000
Long
by AndeWave
4