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Descending Triangle

$DWAC - Bearish Descending TriangleA descending triangle is a bearish chart pattern used in technical analysis that is created by drawing one trend line that connects a series of lower highs and a second horizontal trend line that connects a series of lows. From Trading Sim: You can identify the descending triangle reversal pattern at the top end of a rally. This pattern emerges as volume declines and the stock fails to make fresh highs. The pattern indicates that the bullish momentum is exhausting. At the same time, price action forms a horizontal support level. After price bounces off the support level multiple times, posting lower highs, we can anticipate a potential downside breakout. The minimum distance that price moves prior to the breakout is measured from the initial high. This distance is projected lower after price breaks out below the support level.
DShort
by jaykenneyTRT
1
Boeing (BA) bearish scenario:The technical figure Descending Triangle can be found in the US company The Boeing Company (BA) at daily chart. The Boeing Company is an American multinational corporation that designs, manufactures, and sells airplanes, rotorcraft, rockets, satellites, telecommunications equipment, and missiles worldwide. The company also provides leasing and product support services. Boeing is among the largest global aerospace manufacturers; it is the third-largest defense contractor in the world based on 2020 revenue, and is the largest exporter in the United States by dollar value. Boeing stock is included in the Dow Jones Industrial Average. The Descending Triangle has broken through the support line on 05/03/2022, if the price holds below this level you can have a possible bearish price movement with a forecast for the next 17 days towards 150.00 USD. Your stop loss order according to experts should be placed at 223.23 USD if you decide to enter this position. Boeing Co. has preliminary plans to boost production of its cash cow 737-family narrowbody to around 47 per month by the end of next year, as the U.S. planemaker looks to extend its recovery from successive crises, two people familiar with the matter said. After slashing production due mainly to the pandemic, Boeing and European rival Airbus SE are seeing more demand for their medium-haul passenger jets, with both planemakers adding eye-catching deals to their order books in recent weeks. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
NYSE:BAShort
by legacyFXofficial
$OPEN - Falling Through the Trap DoorA good trading friend of mine asked for a fresh set of eyes on $OPEN. I figured I would share here. I don't like the impersonal style of this company. When people sell a home- they want a personal relationship with their realtor. Anyone with their chops would tell you it's best to expose the house to the market and let a bidding war take place. This model is smart, but I would never suggest friends or family use Opendoor. Considering higher rates coming and dropping home sale numbers, look for this name to continue to fall further after a failed breakout and rejection. Especially after missing earnings recently. More information about $OPEN from their website: "Opendoor is a leading digital platform for residential real estate. In 2014, we set out to reinvent life’s most important transaction with a new, radically simple way to buy and sell your home. We have rebuilt the entire consumer real estate experience and have made buying and selling possible on a mobile device. We’ve served tens of thousands of customers who have come to Opendoor to make their moves easier. Whether it’s getting married, starting a family, taking a new job or simply making a life change, we help people get to their next chapter in one simple, seamless transaction. Our mission is to empower everyone with the freedom to move. Opendoor currently operates in a growing number of cities and neighborhoods across the country. A full view of the markets we serve can be found here. Headquartered in San Francisco, we are a team of problem solvers, innovators, and operators building the largest, most trusted platform for residential real estate."
NASDAQ:OPENShort
by jaykenneyTRT
DIAUSDT is creating a descending channelThe market is creating s descending channel on the weekly support on the 1.03$ level. On the daily timeframe, we can see a false breakout from that area and on the 4h timeframe, the price is trying to have a breakout from it. How to approach? IF the price is going to have a breakout from the descending channel and retest the previous resistance as new support, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
2
GBPTRY breakout - the patternGBPTRY is a great trade as always, even better when traded with 0.0 pips spread and NO swap fees. On topic - looks like an inverted head and shoulders pattern on this time frame and may rise up quite nicely today, tomorrow, toy Yoda. Or it would fall under the descending triangle pattern and slide back to where it came from. Let's have a look-see. This is just a pattern analysis and not financial advice. When we give advice we usually sign a contract to protect your capital.
GLong
by Visit-wwwTRESORFXcom
SPX Correction (ABC Wave Pattern) Part 2So far, Elliott Wave Theory has done an excellent job of predicting the recent bear market. There was a clear five wave pattern down from A. B retraced exactly 0.618 (the golden ratio) of A. Elliot Wave Theory predicts that we are currently on Wave C, assuming this an ABC pattern. If C extends farther than 161.8% of wave A, the ABC correction pattern is invalidated and a five wave pattern is in progress. This would be the "crash" scenario. Please see my previous chart for possible Wave C levels. For this chart, I chose 4000 as the most likely level. Given the market action today, it appears a temporary bottom could be forming, and there could be a bounce up to the area shown by the green arrows. I don't see the market continuing higher given fundamentals (Fed policy, inflation, etc.). If the bounce occurs, the entire correction could be fitted into a descending triangle, which is a bearish pattern. All tips are appreciated: ETH: 0x13cd45d7d282ee0ee4635645cce2e2a566d9bed8
OANDA:SPX500USDShort
by Cryptogold14
DXY 95.81 - 0.3% SHORT IDEA * PRICE ACTION & REVERSAL PTTNS HEY EVERYONE HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE SOME OPPORTUNITIES IN THE COMING WEEK. LOOKING AT THE DOLLAR INDEX * The index has been trading in a descending channel currently range bound in a descending channel. * Looking for that lucky number 3 touch to see the index respect the descending structure and bearishly rally to test the base of this structure. * The index already saw a delay at the base of the descending triangle structure which may signal having gardered momentum to go give that 3rd touch. - should this happen looking for shorts on the dollar index, a break above changes the whole plan. lets see how it goes IF THIS IDEA ASSISTS IN ANY OR IF YOU LIKE THIS ONE SMASH THAT LIKE BUTTON & LEAVE A COMMENT. ALWAYS APPRECIATED ____________________________________________________________________________________________________________________ * Kindly follow your entry rules on entries & stops. |* Some of The idea's may be predictive yet are not financial advice or signals. | *Trading plans can change at anytime reactive to the market. | * Many stars must align with the plan before executing the trade, kindly follow your rules & RISK MANAGEMENT. _____________________________________________________________________________________________________________________ | * ENTRY & SL -KINDLY FOLLOW YOUR RULES | * RISK-MANAGEMENT | *PERIOD - SWING TRADE
TVC:DXYShort
by PULEMokhothu
1
BITCOIN grinding the EDGE!Happy weekend all! 😃 Hope you are all having a great Saturday! Left 1H BTCUSDT (bearish pattern, descending triangle at the bottom of a downtrend) & Right 1D BTCUSDT Not much to say here, to see the exact support and resistance levels check out my post here from a few days ago 👇: ------- Most likely BTC will be riding the support here until beginning of next week when geo political news and global markets will give us a clearer indication about the price of Bitcoin and Alt Coins. I would like to add that this is for educational purpose only and is in no way a guarantee that it will play out this way, nor is this or are any of my posts financial advice. ------- A BIG THANK YOU for stopping by, I hope you liked my post! If you did, please take a second to drop a like, comment or follow if you like my content! Every engagement puts a smile on my face, but also helps for my ideas to be seen! 😃🙏 Happy Trading ✌♥📈
by DeFeye
Looks good for positional trade.Aim for 4-5%. It can be easily achievable in 1-5 days. My belief is to choose high winning probability trade with a risk-reward ratio going from 1:1 to 1:2. The reason for booking profit of only 6-8% is because the market direction is not sure at this point. So better to aim for 1:1 risk-reward and rotate your money in better opportunities. It is an analysis video. Take your decision on your own. Take trade if all conditions meet at the end of the day 3:15-3:30 PM. If you have any questions or suggestions, please leave a comment below. I will personally reply to every single comment! If you enjoyed this analysis, I would definitely appreciate it, if you smash that like button and maybe consider following my channel.
NSE:TVSMOTORLong
by Chartmaniac
WOCKPHARMA gives a breakout. Add to Watchlist.NSE:WOCKPHARMA Aim for 5-10%. It can be easily achievable in 1-3 days. My belief is to choose high winning probability trade with a risk-reward ratio going from 1:1 to 1:2. The reason for booking profit of only 6-8% is because the market direction is not sure at this point. So better to aim for 1:1 risk-reward and rotate your money in better opportunities. It is an analysis video. Take your decision on your own. Take trade if all conditions meet at the end of the day 3:15-3:30 PM. If you have any questions or suggestions, please leave a comment below. I will personally reply to every single comment! If you enjoyed this analysis, I would definitely appreciate it, if you smash that like button and maybe consider following my channel.
NSE:WOCKPHARMALong
by Chartmaniac
AUDUSD LONGOANDA:AUDUSD AUDUSD on an uptrend with HHs and LLs on the 1H. Price broke resistance and made a pullback testing what is now support. Price retraced at 38.2% fib level. A consolidation occurred creating a descending triangle with LH's and a strong support level with long wicks indication a strong rejection of buyers, should price close higher than the last lower high of the descending triangle it will break structure and a buy setup will be confirmed and take profit 1 would be at 0.72119, and take profit 2 will be at 0.72571 should price continue to break the resistance level of take profit 1.
Long
by The_Pip_Trader
Meta next level of support and its future metaverse prospectsCEO Mark Zuckerberg is so committed to shifting the company to the metaverse that he changed the company name to it. This in my opinion is a great play. Anytime anyone in the future mentions metaverse they will immediately link the company Meta to the conversation. Enabling Meta’s future as a metaverse centre. Meta’s Oculus and Horizon virtual reality subsidiaries will likely play a very large role in the metaverse. I suspect Facebooks ad strategy will also play a large role in pushing for advertising revenues streams in the metaverse. This will enable Meta to attract loads of companies who would like to advertise in the metaverse. Zuckerberg has already announced an initial investment of $10 billion into metaverse development. There will be many struggles for Meta in the future and this is a risky play by Zuckerberg. However, I do believe it will pay off significantly. Considering Meta’s stock has recently fallen by almost 30%. This is a very good opportunity to buy. The two orange lines represent the all-time low and high. The blue line extended to the right is the bottom trendline for the descending triangle. That chart pattern has already broken out in a very successful manner, however the trendlines still can be used for future support and resistance. I have split up the support regions for the stock into three levels. The first is the blue support line which has been broken. The second is the 200 moving average which has also been broken, however, the price may linger around here for a while so keep an eye out for that. The third last support level is the Fibonacci retracement 0.5 level. That lower level sits at around $200. It extends upwards to $245. The lower level of this 0.5 retracement does also provide past resistance and support so I would see it as a very key support level. However, I do not see the stock falling to that level. So, I see the stock remaining in a sideways movement between $200 -$245 for the next couple of weeks to months. After, I see the stock going above the $245 level by the end of the next year hopefully reaching the near of all-time high. However, watch out for any news on Meta and privacy laws. If there is another issue with Meta and privacy this could hinder its growth and so the bull movement could be restricted.
NASDAQ:METALong
by BlackbearTrader