Get started

Breakouttrading

RILY Update - Breakout Still Imminent! Buyers ARE in control!Keep an eye out for a break of this magenta strong selling channel - this will be our initial indication of a retest of the top of teal tapered and that is where, if yellow and purple channels are holding price, we can see a large breakout. Until then, there is a massive short float on this stock so we'll likely need to wait for the teal and magenta wedge for this to happen. As always I will keep you posted with further updates as we move forward Happy Trading :)
NASDAQ:RILYLong
by ReigningTrades
2
Will SILVER Finally Break The Support Level?Hi Traders! There is a potential breakout on SILVER as it tries again to break the long-term support level.   Here are the details: Looking at the price action, it looks bearish; the market swings are lower with lower highs and lower lows. The market has broken and closed under the 20 EMA, and this is the third time around the 21.885 support level. The plan is to wait and see how the market reacts at 21.885. If the market holds above this level, then it will likely target the resistance trendline. However, if there is a break and close below 21.885, there is a good chance of targeting the long term support level at 20.696. Preferred Direction: Sell Technical Indicators: 20 EMA Resistance 1: 22.639 Support 1: 21.885 Support 2: 20.696 Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
TVC:SILVERShort
by BluetonaFX
1
Cup and Handle Pattern Breakout Arbitrum (ARB), observed on the 1-day timeframe, has constructed a substantial Cup and Handle pattern, signaling a potential bullish sentiment in its price movement. The recent breakout above this pattern confirms the bullish bias. The analysis suggests an expectation of a retest around the support zone, with an ideal entry point identified at $1.44. 🔄 Cup and Handle Pattern Formation: ARB has successfully formed a significant Cup and Handle pattern on the daily chart, a technical formation often associated with bullish reversals. The breakout above this pattern indicates a potential continuation of the upward trend. 🚀 Bullish Momentum Confirmation: The breakout above the Cup and Handle pattern serves as a confirmation of bullish momentum in ARB. This pattern suggests a shift from a consolidation phase to a potential uptrend, and traders are likely to monitor for opportunities aligned with this shift. 📉 Anticipated Retest and Entry Point: The analysis anticipates a retest of the support zone following the Cup and Handle breakout. The ideal entry point for traders could be around $1.44, coinciding with the potential retest zone. This level provides an opportunity for traders to enter bullish positions. 💡 Trading Strategy: Traders considering ARB may strategize for a potential entry around $1.44, contingent on the anticipated retest of the support zone. Confirmation of support at this level could serve as a signal for bullish positions. Implementing risk management strategies, such as setting stop-loss orders, is crucial. 🔮 Future Outlook: The technical analysis suggests a bullish outlook for ARB following the Cup and Handle pattern breakout. Traders should closely monitor the anticipated retest around $1.44 for potential entry opportunities. As with any trading decision, adaptability and risk management remain essential in navigating the cryptocurrency market's dynamic nature.
by AlexWhale