Assending
VeChain Textbook Ascending TriangleVetchain has remained very bullish since the last rally. It is bouncing off resistance at 0.265 and the ascending triangle support which is typically a bullish pattern determined by breaking of the top horizontal resistance line which could trigger a rally once again.
Pros:
- The structure remains very strong despite bitcoin correction, validates an ascending triangle pattern.
- Indicators are being fixed, looking ready for rally (etc moving averages coming together)
Cons:
- Unstable time in the crypto market, BTC hanging on support if break below there will be more downside for all altcoins.
Personal trade idea: enter at break above 0.265 with retest / buy at accessing triangle supports. SL 0.195
NIO DAY WEEK!!! BULLISHNIO – The NIO Day scheduled on January 9th, Definitely have a bias to the upside for the hype. However, the price actions are now back into the $45 - $50 channel again. $50.50 is the crucial level, and if it breaks above I can see it’ll retest $52.7. Over $50 for a call (scale-up over $50.50).
First time learning to chart. Feedback would be greatLooking at trend lines it looks to me like an assending triangle with support at .04c with highs of .049.
Lower volumes on the pull backs and higher on the highs. Looks to me like a break out to retest .049 highs?
Any feedback would be great as this is my first time!
Thank you in advance,
DIS, triangles all the way downGraph is cluttered, however the chaos can be easily explained. First, let’s start with the symmetrical triangle inside of the ascending triangle. After the drop in March price started to consolidate on a previously well know resistance area and converted into the symmetrical triangle leading to a break out of the bearish trend line. However the previous year set a well tested support. Price broke out of the symmetrical triangle and the well tested support but could not hold, leading the price to fall down to the second bullish trend line. The bullish trend line along with the well know support make a assending triangle.
Long after a close above the resistance line. Stop loss is a close below the bullish trend line.
Use risk management as always.
Thank you for reading.
KOMP Weekly low and long to go by December 2020Technical analysis shows stock can climb up until Dec 2020