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Ascending Triangle

Ethereum - Ready for explosion! (Must see) ETH is a ticking bomb at this moment, because my analysis suggests an explosive move is about to happen. I hope your bags are full! As you can see, the price is breaking out of a bullish pennant on the 4h chart with a successful retest. What more do you need? The price is moving in an ascending parallel channel, and it's very important for ETH to hold this channel; otherwise, we are going to lose the bullish momentum. 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 post trade setups privately. From the Elliott Wave perspective, we are currently still in the 3rd wave, so you don't need to worry about a potential crash; it's not going to happen. During wave 4, we will see a small pullback, but nothing dramatic. After we finish this whole impulse wave, then it's going to be awful, and the bears will step in. The first stop is the next strong resistance. Quarterly / monthly highs and 0.5 FIB are definitely strong resistance, there is no doubt about it. This could be your profit target for this trade if you want to trade in the short term. Since the start of the new year, I haven't opened any short positions on futures. I only trade longs at this moment, and this strategy is indeed extremely powerful, because the trend is your friend. Thank you, and for more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
68
Cardano bullish triangle, target 0.6429Hey Trader! This analysis is elaborated on the idea behind an ascending triangle. This bullish formation indicates that the price has the potential to break the triangle and reach a new target which is plotted at 0.6429. The triangle is visualized by a red resistance line where the price tops at, and a green support line where the price draws its bottom. Below the cross, a strong safety net is drawn as there are some significant support levels at 0.2393, 0.3107, and 0.3297. To create a picture of where the next target level will be located, the Fibonacci tool has been used to draw the target (0.6429). However, there are some resistance levels at 0.4377, and 0.5240, but since the buying power is high as the triangle indicates, there is still a lot of potential in Cardano. I hope this analysis was instructive and can help create a picture of how Cardano is going to perform in the future.
Long
by Aksel_Rom
SPY FEB03 405/FEB01 410 DIAGONAL CALLHIGH BASE/ ASCENDING TRIANGLE SPY has been trading above a rishing 50 day and 20 day and has been forming an ascending triangle or high base. It recently made a swing high on January 23rd which I used as my trigger. For the most part, SPY has been consolidating since let's say about the 12th of this month? Consolidating between 390 and 400 equal volume. Since we traded above the high of the 23rd I decided to get into this shorter term trade. No stops will be used as I'm set up for max loss risking less than 2% of my portfolio. I placed an anchored vwap on the daily chart from the high of January 2022. So if we look ay an hour chart, I'm thinking this is going to want to climb back up into the upper trend line I drew to make it's way to 410 or even break through 410. I selected Feb 1st as my expiration date as I would anticipate a run up into the middle of next week into the 410 area or maybe even much higher before it retraces back to the lower levels. I'd be looking to get short in this 410 area or maybe 420 area is it wants to go higher into the end of next week. Maybe up to 430 by middle of February. If this goes lower, I'm set up for max loss so I'll let it expire worthless. If this goes sideways, which could happen because we've been in this sideways trend for a few weeks, I'll let my 410 expire and hang on to my 405 strike until next Friday. If this is well above by the 1st of February, I'll close out the entire combo. But if it is not at or above 410 by the 1st, I'll hang on to my 405 strike until it reaches my 410 target. Once it gets to 410 i'll close out the 405 strike even if it gets to my target before the 3rd.
AMEX:SPYLong
by MMOTA_
Ascending Triangle on GBP/CHF @ H4This short-term ascending triangle pattern appears on the H4 chart of GBP/CHF. I am planning to use it for a long 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 1.13090. I will ignore downside breakouts from this bullish continuation pattern.
Long
by AndriyMoraru
3
EUR/AUD Update 1: Post News Release Daily OutlookFollowing my hourly outlook post yesterday that was pre news we did indeed pullback near to the top of the hourly trendzone before dropping into a bearish market today after negative high impact news adding to the confluence of the bearish ascending triangle breakout which has had multiple key resistance retests to assure the trend reversal process has begun. I have exited my buys from last night and will be looking to take a long swing short giving that we have added confluence today I will then look for a good entry point and manage my risk accordingly. What are your thoughts?
Short
by OfficialKieranTrewick
1
Cardano Bullish BreakoutHey Trader! This analysis is based on an Ascending Triangle. Since the price of Cardano has been moving in a bull market lately, it is not uncommon to see a formation like an Ascending Triangle that will have a bullish breakout. Below the price and the triangle are two notable support levels which have a major impact on Cardano's buying power. These two support levels are located at 0.3295 , & 0.2657 . Based on the recent price action, Fibonacci indicates a target at 0.5562 which can be reached as a result of a potential bullish outbreak from the triangle. In addition, Cardano's market price has crossed the 50-day moving average which in itself indicates a buy recommendation (the 50-day moving average is visualized by the grey line). I hope this analysis was instructive and can be used for future consideration of Cardano's situation and the potential that can be exploited.
Long
by Aksel_Rom
Cardano Ascending Triangle formationHey Trader! This analysis is based on the Ascending Triangle concept, which is formed by the price of Cardano. In the analysis two support levels are visualized; Strong support at 0.2983 - 0.3290 , allocating back to mid-December, and the support level at 0.3632 . As the drawn triangle shows, the price follows bullish also called an "Ascending Triangle". This triangle combined with the Fibonacci tool can create a true picture of how the price of Cardano may land at the target at 0.5178 . I hope this analysis helped to give an instructive picture of Cardano's evolution and can be taken into consideration for the current situation as well as the future.
Long
by Aksel_Rom
ZIL Ascending Triangle Above TRAMAZil/USDT Create Ascending Triangle on Binance 4h Chart pattern above the Trama Ascending Triangle The ascending triangle is a bullish formation that usually forms during an uptrend as a continuation pattern. There are instances when ascending triangles form as reversal patterns at the end of a downtrend, but they are typically continuation patterns. Regardless of where they form, ascending triangles are bullish patterns that indicate accumulation. Because of its shape, the pattern can also be referred to as a right-angle triangle. Two or more equal highs form a horizontal line at the top. Two or more rising troughs form an ascending trend line that converges on the horizontal line as it rises. If both lines were extended right, the ascending trend line could act as the hypotenuse of a right triangle. If a perpendicular line were drawn extending down from the left end of the horizontal line, a right triangle would form.
Long
by BabarLaghari
AUDJPY on an ascending triangle 🦐AUDJPY on the chart appears to be creating an ascending triangle pattern, with rising lows below the 92.700 level. This is a bullish pattern as it suggests that the market is finding support at this level and that bulls are pushing the price higher. The resistance level is the horizontal upper structure of the triangle, where the price is repeatedly failing to break above. A break above the resistance level could signal a potential uptrend in the near future. This is because a break above resistance indicates that bulls are gaining control and pushing prices higher. The move above the resistance level could also trigger a wave of buying activity, which could further propel the price higher. Overall, the technical analysis suggests a bullish bias for AUDJPY in the short-term. Traders may want to consider buying on a break above the resistance level of 92.700 according to Plancton's strategy rules. Please also pay attention to any potential changes in the broader market sentiment or economic data releases that could impact the currency pair.
by InkyGrip
2
MELI - could be ripe for breakup soonThere are several factors that are aligning in MELI's favour for sustainable recovery in the near future (minor pullbacks not withstanding): 1. Since hitting the low in June2022, it began to whip saw sideways within an ascending triangle pattern. This is a possible reversal pattern when formed after a downtrend. 2. A golden cross on 22 Dec2022: another signal that the trend is possibly reversing up although the stock could still continue to whipsaw for several weeks (sometimes up to a couple of months) until the 200day moving average could flatten or start turning up. 3. Very strong volume in the last 2 days that propelled the stock to move 15.6% in just 2 days to retest the neckline of the ascending triangle. Watching to see if a (valid) breakup will materialise in the near future (perhaps after the next minor pullback). Disclaimer: Just my 2 cents and not a trade advice. I may or may not enter into this trade. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NASDAQ:MELILong
by Juliac
One of my Oldest Trading TechniqueIf you have been following me, you should know that I was a born counter-trend trader, but you might not be aware that I am also a Breakout trader. What I love about breakout trading is the sudden spike of movement that brings me instant profits; nowadays, I do lesser of those trading setups. I'm waiting for a break and close above 0.9345 for further confirmation of the trend continuation move; another approach is to wait for a retest on the trendline without having the candle break and close below the trendline.
Long
by RaynLim