Ascending Triangle Pattern Tutorial: 3/8 Bullish PatternsAscending Triangle Pattern Tutorial: 3/8 Bullish Patterns
An ascending triangle is a bullish continuation chart pattern that signals the potential for an upward breakout. Here's how it forms:
Flat Upper Trendline: The upper trendline is flat, indicating a resistance level where the price consistently faces selling pressure and fails to move higher.
Rising Lower Trendline: The lower trendline is ascending, showing higher lows as buyers step in at increasingly higher prices.
Price Convergence: The price action gets squeezed between the two trendlines, leading to a tightening range.
Breakout: Eventually, the price breaks above the resistance level, indicating a continuation of the upward trend. This breakout is typically accompanied by a surge in volume.
Ascending triangles are popular among traders because they offer clear entry and exit points. The height of the triangle, measured from the base to the horizontal resistance, can be used to estimate the potential price target following the breakout.
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WILL CARNIVAL CRUISE LINE ($CCL) CONTINUE TO SAIL HIGHER?! 50%+🚢 WILL CARNIVAL CRUISE LINE ( NYSE:CCL ) CONTINUE TO SAIL HIGHER?! 50%+ Potential! 🚢
NYSE:CCL had a rough ride during the COVID pandemic as everyone stayed home, not vacationing, and definitely not cruising. But could it be ready for a massive comeback?
In my latest video, I break down the "High Five Setup" trading strategy, the ascending triangle breakout, and when to possibly enter this exciting trade.
Trade Idea:
Entry: $20
Exit: $17.88
PT1: $26
PT2: $30.64
Thanks for watching and for all the support! Let me know what stock or video you want to see next.
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Not financial advice.
#StockMarket #Trading #Investing #CarnivalCruise #HighFiveSetup
Decoding the next Big Bull - Jio FinanceJIO Finance - from the day of its Demerger listing - had gone thru a very subdued performance up until now. Finally the Tiger is out of the bushes and is showing up its real power
On the Technicals front - we can derive the Near to Short term view using chart patterns. Long Term view is still strongly bullish, but due to lack of history and patterns, we are proposing Incremental targets
Technical Analysis: Near to Short Term view
On Daily Time Frame, price has already completed a beautiful Cup and Handle Pattern / Bullish Ascending Triangle pattern with Target of 300.
Price did reach very close @ 295 to the target but fell sharply, retracing back to the C&H BO zone and took a bounce - now forming a Fresh Rounding Bottom pattern. BO above 296 WCB for New Target of 335
Disclaimer:
Stocks-n-Trends is NOT registered with SEBI. We do not provide Buy / Sell recommendations - rather we provide detailed analysis of how to review a chart, explain multi-timeframe views purely for Educational Purposes. We strongly suggest our followers to "Learn to Ride the Tide" and consult your Financial Advisors before taking any positions.
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-Team Stocks-n-Trends
Compressing the Compressor - Elgi EquipmentElqi Equipment is a leading manufacturer of Compressor mainly for the Railways. Given the Focus & Investment on railway sector by govt of India - many railway themed stocks are flying.
Elqi Equipment on Monthly is getting compressed in an Bullish Ascending Triangle formation. Its a Double Resistance -
1) Long Term Parallel Channel BO pending
2) Ascending Triangle BO pending
BO for both same - above 580 WCB will take to a target of atleast 300 points to 885. Enjoy the ride
Disclaimer:
Stocks-n-Trends is NOT a SEBI registered company. We do not provide Buy / Sell recommendations - rather we provide detailed analysis of how to review a chart, explain multi--timeframe views purely for Educational Purposes. We strongly suggest our followers to "Learn to Ride the Tide" and consult your Financial Advisors before taking any positions.
If you like our detailed analysis, please do rate us with your Likes, Boost and share your comments
-Team Stocks-n-Trends
The Multi-Bullish Voltas20-Dec-2023 - Voltas - Multi-Bullish Patterns
Weekly - I can see atleast 3 Bullish Patterns
1. Rounding Bottom BO done above 928, Target 1117
2. Double Bottom around 740 levels - Target 1050
3. Bullish Ascending Triangle - BO done
Predictions become accurate when multiple patterns work In-Sync.
TRON/BTC , Ascending triangle , timeframe 1 weekFormation of an ascending triangle on such a large timeframe.
Working out of the previous descending triangle is shown by red lines!
Price is clamped in the triangle, volumes are decreasing, there is a possibility of accumulation of coins before the breakout and achieving the specified goals
Thank you for your attention
GBPUSD Ascending Triangle Pattern Breakout. We expect further downside on this pair, signalled by the ascending triangle channel pattern breakout. We can also see the formation of a low high which signals a change in trend from bearish to bullish as well as a breakout of a key level which further supports our directional basis.
A Winner run for BAJAJ FINSERV?BAJAJ FINSERV looks promising for an upside gain as it makes new powerful momentum swings. The stock has formed a ascending triangle zone where it tried breaking out near previous resistance zones. After being an underperformer for over an year it would be interesting to see if it can break through previous price points & recover to form new highs.
Covid & Vaccine Related Novavax Long Play in the cardsHi guys! So lately theres been some buzz on a particular variant, increased cases of hospitalizations and government backing. At risk population that require vaccinations/ boosters will always exist. Therefore, i believe this fact along with various technical analysis findings can make companies such as Biontech, Moderna and even not as famous Novavax potential plays.
(Look below for my analysis on Biontech)
Jumping right in. This is a technical analysis on Novavax (NVAX) on the 3 day timeframe.
Zoomed in we can see that we have a GOLDEN CROSS.
Between the:
21 EMA
50 SMA
Being on the 3 Day its ALOT more Powerful than having it on 1 Day and it may influence the larger timeframes. Which is what we want.
We have also maintained SUPPORT on both Moving Average. (21 EMA and 50 SMA)
This is a great sign, if we continue like how we are with our current candle during the close that would further confirm Support and a bullish case in my opinion.
This 3 day candle will close on the 8th of September. Pay attention to how big the body of candle gets on the close.
With this i would like Volume to start to pick up especially if and when we get to the "flat trendline".
Another important development to notice is the Ascending Triangle.
This can be giving us evidence we are in the process of BOTTOMING out.
Watch for the breakout ABOVE the Flatline. This with confirmation of Support on flatline would be a Major Area to take Long Positions.
I would ADVISE AGAINST buying inside the triangle. But Belowthe Ascending Support Line would be an area for Stop losses.
Watch also how the MACD acts. If we continue in Green and the Blue/Orange lines make it ABOVE 0 level. We will be off to the races, as it would be the necessary catalyst that provides momentum to have the triangle play out.
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Stay tuned for more updates on NVAX 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.
USD/CAD HTF Bullish Confluence? Multiple Breakout OpportunitiesBullish Outlook
In this post (Bearish Outlook and former post update below), I highlight the potential bullish confluence we’re seeing on multiple higher time frames. This HTF reversal could begin with the former strong support level that we broke through but could act as support again – this would create an extremely convincing Inverse H&S as our left shoulder has tons of liquidity already built up.
Current Buy Trades:
On the Mid Time frame (2hr) - If we do break out on the 2HR with a healthy retest and bullish CHoCH, we will reconsider for a potential IHS signal upward toward the mitigated HTF supply zone and attempt to create a Major CHoCH to the upside.
On the higher Time Frame: we should keep an eye on the weekly and daily charts for pattern confluence and strong level breakouts.
This potential confluence of the bullish flag and Inverse H&S on the weekly is showing strong signs as the selloff has been controlled within this channel and if we do see a breakout of channel and neckline, we could make our HTF move up.
Confluence:
If we do see some bullish structure start to form, we might see confluence on multiple time frames which would be a very bullish HTF signal:
1. 2HR – Bullish breakout of ascending triangle and CHoCH
a. Subsequent BOS and LTF trade signal to upside.
2. Daily – Inverse H&S neckline retest and breakout
a. Resistance to turn support
3. Weekly – Breakout of bullish flag upper channel and neckline of IH&S.
LAST POST Summary and Update: (Bearish Outlook)
As I mentioned in my previous post, on the higher time frame weekly chart we mitigated our demand zone and hit expected resistance at the top of our bearish channel and failed to make a higher high. We then smashed through a strong support level and created a major CHoCH. We just recently mitigated that higher time frame supply zone but failed to make a high so we are currently on the bearish path toward a new lower low.
Our projected trade from last post (linked below) is still in play and awaiting its Choch signal. As we can see we have twice mitigated our LTF supply zone as I mentioned would occur in my previous post (linked below), and are awaiting an entrance signal via 2HR (MTF) CHoCH and subsequent 15min supply zone mitigation.
Current 2HR Sell trade:
We are now creating an ascending triangle and although typically a bullish signal, due to the HTF outlook, I’m looking for a potential liquidity grab from the upper resistance level and a fake out. If we do grab liquidity and see a strong move I’m looking to short this on the rejection of the triangle breakout.
TRACUSD Hidden Ascending TriangleTRACUSD daily forming what I am now calling a Hidden Ascending Triangle Pattern. I have charted a few of these patterns that break out temporarily only to fall back within the triangle. Also a nice horizontal level of support and resistance running through the middle as well.
A Variation Of The Ascending Triangle On The Weekly TRACETHOrigintrail has a history of outperforming ETH. This looks like a variation of the Ascending Triangle Pattern. With a well-defined horizontal level of resistance.
A very nice looking chart that complements the TRACUSD chart I have also linked to below.
Ascending Triangle Breakout WTKUSDTA variation of an ascending triangle breakout occuring on WTKUSDT (WadzPay). Minimum target $0.0273 as measured by vertical distance of ascending triangle also coincides with previous resistance levels.
Double Pattern MoveThis is an updated idea of my previous post where I discovered a cup & handle pattern. However, on a relook I noticed that there is a double pattern formation. It can be seen in this post that a ascending triangle pattern is engulfing a cup & handle pattern, both signaling an upmove.
📈 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.
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Can $ESAB go higher from here?Notes:
* Moving up on the right side of its IPO base
* Good earnings
* Breaking out of an ascending triangle with higher than average volume
* Has a 50 day UD ratio of 2.26 and a 15 day UD ratio of 5.27; indicating that there's been a ton more buying short term
* Has a solid relative strength in the sector and against the SP500
* Showing an early entry relative to its 50 day line
* Printed a pocket pivot, indicating institutional demand
Technicals:
Sector: Industrials - Metal Fabrication
Relative Strength vs. Sector: 2.87
Relative Strength vs. SP500: 14.88
U/D Volume Ratio: 2.26
15 Day U/D Volume Ratio: 5.27
Base Depth: 77.73%
Distance from breakout buy point: -16.17%
Volume 21.39% above its 15 day avg.
Trade Idea:
* Now's a great time to jump in as it's close to its 50 day line, printed a pocket pivot and breaking out of its ascending triangle
* If you're looking for a better entry you may look around the 48.1 area as it may retest that level for support
Some resistances to keep in mind are $49.2 and $51.3. There may be sellers in these areas.
1212: TASI ASTRA INDUSTRIAL GROUPBreakout is observed,
An aggressive Entry @ current level can be taken
Conservative Entry can be taken after retest (formation of HL)
Cup and Handle Pattern
AB=CD Harmonic Pattern
Ascending Triangle Pattern
Formation of HH, HL, Dow theory Bullish trend
Enjoy the ride
Fib Levels and extensions are mentioned for TPs (Long term targets)
Trail your stop loss accordingly