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Ascending Triangle

Buying Opportunity📈 My bias is strongly inclined towards buying GBPUSD. Currently, I'm eagerly anticipating the formation of an Ascending Triangle trading setup. 🔍 There are two possible scenarios to consider: 1️⃣ Waiting for a retest back to the trendline for a prime buying opportunity. 2️⃣ Observing a violation of the red line at 1.2853, followed by a retest, before entering a trade. Stay tuned as we closely monitor the market for the ideal buying entry. Don't miss out on this potential opportunity for profitable trades! 💰💼 #GBPUSD #AscendingTriangle #TradingSetup #BuyingOpportunity #StayTuned
Long
by RaynLim
GOLD → Mid-term perspective OANDA:XAUUSD breaks the uptrend. A break of the support of the bullish price channel ends the impulse to 1893 and forms a smooth transition to the state of consolidation in the flat boundaries On Friday, the price makes a retest of the previously broken support level of 1935. Tandem of technical and candlestick analysis does not give the preconditions for a possible breakout of the resistance in the near future. In the first half of the week the price might again test the 1935-1939 area and make a false-break. The situation looks bearish at the moment, so my main priority is the downside of the price to 1907 with a new attempt to break-through this support. The moving averages are also pointing at the formation of a global flat. 1954-1870. The strong pressure from the sellers is likely to be still present in the market. The medium-term outlook points to a possible further decline. To make a bet on further growth from the technical analysis point of view, the price should break through the resistance area of 1935-1935, and then the momentum to 1960-1981 will be formed. There are some interesting news in the week ahead. The inflation in the west is still high and in that case the gold has negative fundamentals as the Fed continues to aggressively look at the rates. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
19
BTCUSD → FB before the breakout, waiting for the retest BITSTAMP:BTCUSD is testing strong resistance at 30575, but a false-break of the level tells us that the price is not ready to grow (at the moment). It might form a pullback or flat pattern below the level before rebounding further Globally, we have a bullish trend, the price is getting stronger. The rally is followed by a consolidation and a pullback, after which the cycle repeats again. The price is gradually renewing its highs. Fundamentals are getting stronger amid a surge of activity and some positive investor interest news. The moving averages on the D1 show us a bullish trend, the same is true for the weekly chart. The price forms a range after breaking through 25000. The range boundary is 30285 - 25000. I would not expect in the medium term a decline to 25000, most likely the price may form a consolidation between 30000-28500, after which the price will continue to form resistance retests for a breakout. Support levels: 29800, 28500 Resistance levels: 30575 I expect a consolidation or a technical pullback after a rally. Bitcoin is not highly susceptible to technical analysis, but it is excellent on fundamentals. Fundamental background is more inclined to a positive trend. In the medium term, I expect growth after the breakout of 30575. Sincerely R. Linda!
BITSTAMP:BTCUSDLong
by RLinda
6
GMX high trader grade on token MetricsGMX presents a bullish opportunity with positive indications from the Token Metrics Trader Grade ratings and chart analysis. The price action on GMX is forming an ascending triangle pattern, suggesting a higher likelihood of a breakout to the upside. Based on this pattern, the measured move indicates a potential gain of 42%. Additionally, there is a noticeable gap in the Volume-Weighted Price (VRP) all the way up to the measured move level, indicating potential momentum for further upward movement. When considering the technical indicators, both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) suggest the possibility of a retracement towards the lower boundary of the triangle. This could be considered a riskier entry point but offers greater potential rewards. Alternatively, a more conservative approach would be to wait for the price to break above the upper boundary of the triangle and retest it as support. Setting alerts on both the upper and lower trendlines would be prudent. Monitoring smaller timeframes like the 5-minute chart can provide additional insights for determining an entry point. Overall, GMX appears to have a bullish outlook with multiple factors aligning in favor of a potential upward move. As with any trading decision, it's important to conduct thorough analysis and consider personal risk tolerance before entering a trade.
Long
by Fermented_Crypto
NIFTY ASCENDING TRIANGLE - 04/07/2023NIFTY50 Formed ASCENDING TRIANGLE PATTERN BUY ABOVE - 19330 SL - 19290 TARGETS - 19400,19470,19540 SELL BELOW - 19290 SL - 19330 TARGETS - 19250,19200,19160 Disclaimer - All information on this page is for educational purposes only, we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made. HAPPY TRADING GUYS
NSE:NIFTY
by Jagadheesh_JP
5
Bitcoin - Parabolic phases (1 million USD in 2044) As per my calculations, the price of Bitcoin will be 1 million USD in 2044, which is 21 years ahead. And it's still a pretty optimistic price target, in my opinion. Please do not expect some big parabolic phase to reach 500,000 USD in the next few months or years. This is not going to happen because you are too late for the party. In 2017, the crypto bubble popped, and phase 2 of the parabolic phase ended. 2017 was historically the biggest year for altcoins and bitcoin. Everything went up, including scam coins, and it will never be like this again. Now Bitcoin is in phase 3 / phase 4. Phase 3 is not sustainable because otherwise Bitcoin could hit 100 million USD in 10 years. Just calculate the market cap; it doesn't make any sense. That's why I am sober all the time and focus on realistic price targets. Bitcoin is still a good investment, and you can trade the major cycles. Buy low, sell high. It's easy to say, but it's not that easy for the majority of market participants. If phase 4 of the parabolic cycle breaks, then it's likely for Bitcoin to go sideways for 5–10 years, but in my opinion, it's not going to happen because the trendline of the parallel channel is pretty low, and with the current date, Bitcoin has to drop below 4700 dollars, which is not going to happen. This is a very realistic technical analysis. 1 million USD in 2044 is not impossible, but the majority of retail trade thinks that 1 million should be hit in a few years.  In approx. 2140, all Bitcoins should be mined, and there will be no new BTC mined at all. Miners will receive rewards from the transactions of chain users. This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately. Thank you, and for more ideas, hit "Like" and "Follow"!
BITSTAMP:BTCUSD
by UnknownUnicorn2537518
118
Shree Cement: Ascending Triangle Breakout and RetestShree Cement(stock symbol: SHREECEM) has been forming an ascending triangle pattern since April 2022, but recently it broke the pattern with a gap down. However, it managed to recover and is currently retesting the lower trendline. During this retesting phase, the stock is forming dojis, which could potentially act as a trigger for a further move. To implement a trading strategy, a stop-loss (SL) could be placed above the high of the doji, while the target levels are set at 22,623 as the first target and 21,853 as the second target. Note: It's important to keep in mind that financial decisions should not be solely based on patterns or technical analysis, as market conditions are subject to change. It's advisable to conduct thorough research and consult with a financial advisor before making any investment decisions.
NSE:SHREECEMShort
by JigarHathiyani
USDJPY What will happen in the near future?🌟The USDJPY is in a Bullish phase by ⤵️⤵️ 🌟 Bullish signals are: - Bullish Cup & Handle - Bullish Pennant - Dynamic Support zone - Pivot R1 monthly - Ascending Triangle - moving EMA 20 50 ✅TARGETS: 142,148 ⭐ Note if the PRZ is broken downwards with the strength of Bearish candles from bottom Of the PRZ zone , this analysis of ours will be failed. ⏮️Previous Analysis⏮️ ✅If this post was useful for you, like it ❤️ and if you think it is useful for your friends, be sure to send it to them. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 🌍Thank you for seeing idea . Have a nice day and Good luck.
Long
by CobraVanguard
7
BNB 4HWith all the news surrounding Binance and its SEC battle that lay ahead I thought I'd look at a potential BNB trade. We've seen the coin drop from the $300 mark in a pattern of huge sell off followed by consolidation, then sell off again until we've reached the ascending triangle pattern I have shown on the chart. This pattern is very close to breaking down and I think will result in a retest of the Local low that was set at the end of last year and was briefly tagged recently on June 12th. There is a clear range that can be split into quarters to help mange this trade. If the triangle pattern is lost, the midpoint will need to provide support, if it does not BNB will retest the $220 in my opinion. From there $180 is the last chance at support as it's nothing but air after that, BNB will be in freefall. On the bullish side all this downwards price action has left a lot of inefficiencies in price that will eventually be revisited, I just don't think it will be soon given the outside forces acting upon the coin. If BTC has a huge rally from here that's BNB's only hope.
BINANCE:BNBUSDShort
by ProR35
ETHUSDT ASCENDING TRIANGLEI'm sorry but the target does not fit in to the chart. As you can see, the overall situation in the crypto market is not looking very healthy, We have here a very simple setup, we combine: - RSI Bearish divergence. - Uptrend with decreasing volume. - Failure to break major resistance of 2000$. - Bitcoin selling at less than 25000$. And for the previous reasons, I would consider opening a short here with targets 1370$ 890$ and 285$ (high before 2020 market crash). For entering, there is various options, you can enter now or wait for a confirmation like for example, the breakdown of the trend-line and a retest. This trend-line is acting as a strong support so It might take a few days to see a breakout, however, this setup can be wrong, nothing is infallible, no trader wins 100% of the time so please, remember that the first thing is to protect your capital. It's recommended to set a stop loss at 1790$.
Short
by piccard54
2
📈 HOW TO: ASCENDING TRIANGLE PATTERN📍 What Is an Ascending Triangle? This pattern emerges when the price movement allows for a horizontal line to be drawn across the swing highs, while a rising trendline is drawn along the swing lows. These two lines together form a triangle shape. Traders actively monitor triangle patterns for potential breakouts, which can occur either upward or downward. Ascending triangles are often referred to as continuation patterns because they typically result in a breakout in the same direction as the prevailing trend that was present before the triangle formation. This pattern offers traders a clear entry point, profit target, and stop-loss level, making it a tradable opportunity. It is worth noting that an ascending triangle can be distinguished from a descending triangle. 📍 How to Identify and Use the Ascending Triangle Candlestick pattern To identify the ascending triangle pattern, you need to look for a period of price consolidation within an ongoing uptrend. During this phase, the price will exhibit a series of lower highs and higher lows, indicating a temporary balance between buyers and sellers. The upper resistance line of the pattern can be found by connecting at least two highs within the consolidation phase, while a rising trendline is drawn by connecting at least two higher lows. Confirming the pattern involves ensuring that the price was in a clear uptrend before the consolidation phase, the upper resistance line is horizontal or slightly slanted upward, and the rising trendline intersects with the upper resistance line. Additionally, analyzing candlestick patterns within the consolidation phase, such as doji, hammer, or engulfing patterns, can provide further confirmation of buying pressure. Once the ascending triangle pattern is confirmed, traders can set their entry and exit points. Typically, a long position is entered when the price breaks above the upper resistance line, indicating a bullish breakout. The height of the triangle pattern can be used to estimate a target price level, and a stop-loss order should be placed below the pattern to manage risk. 💥 Key Takeaways 🔹 Ascending triangles are considered a continuation pattern, as the price will typically break out of the triangle in the price direction prevailing before the triangle, although this won't always occur. 🔹 The trendlines of a triangle need to run along at least two swing highs and two swing lows. 🔹 A long trade is taken if the price breaks above the top of the pattern. 🔹 A short trade is taken if the price breaks below the lower trendline. 🔹 A profit target is calculated by taking the height of the triangle, at its thickest point, and adding or subtracting that to/from the breakout point. 🔹 A stop loss is typically placed just outside the pattern on the opposite side from the breakout. 👤 @QuantVue 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
3
Ascending Triangle Pattern In GodrejConsumerPr(Daily Timeframe)!We can see the Godrej Consumer Pr is making ASCENDING TRIANGLE PATTERN in daily timeframe. We know ASCENDING TRIANGLE PATTERN is bullish pattern so i am avoiding to take sell side position. This is my personal reason to take only Long side trade if price breakes and closes above 986.30 level. The stock is in consolidation zone about 16 months. So as per my understanding it has gain sufficient momentum to show the upside rally in further trading sessions. Entry = One can initiate the trade in the long side if prices successfully breaks and closes above 986.30 StopLoss = Stop Loss below 943.10. The reason behind placeing stoploss below its recent support level because i have seen many times the price could take support exactly at recent support level and went up so to avoid Stop Loss to be hit i have given some buffer/ Tolerance to the Stop Loss. I always believe in Factor of Safety. Target = I have marked 2 targets (1)1071.55 (2)1137.85. But you can exit your trade if price is about to hit your target levels. If your 85% - 90% target achieved then you can exit from your trade to avoid further volatility(If you want to play safe).
NSE:GODREJCPLong
by Avinash9087