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Descending Triangle

NZDUSD - Descending TriangleIt is common for an analyst who shares 2 trading strategies within a single chart to have an opposing view or strategy. Well not for NZDUSD on the 4-hourly chart. There is a Descending Triangle that offers breakout traders to look for a shorting opportunity once the market break and close below 0.6980. Conservative traders can wait for a retracement and engage the trade. Harmonic Pattern Traders can wait for the market to retrace back to 0.7155 to engage the trade through the Bearish Shark Pattern setup. One must be aware that a Shark Pattern can offer up to 3 different entry prices. Yes! Three. What's more important is to plan your trade and trade your plan.
Short
by RaynLim
VEEV ready for another attempt to break out of a 16 month range?* Perfect earnings * Very strong up trend * High 3-month relative strength in the Tech sector * Offering a pocket pivot entry near the resistance of a 16 month base * Looking at the monthly chart, the price used roughly the mid of that range ($279.39) as support before its previous attempt to break out. * Last month it used $279.39 as support again before moving higher. * The price is very close to its 10EMA on both the monthly and weekly charts indicating it's ready to move higher * Price and volume both in sync during the descending triangle consolidation indicated in white Trade Idea: * You can enter now as the increase in volume shows institutional interest * It's also offering a very attractive risk/reward ratio * If you're looking for a discount, you can look for buying opportunities near the $311.61 area (bottom of the descending triangle * The longer the base, the higher into space :p Caution: * This is a pocket pivot signal and though there's little to no overhead resistance, the price might not break out. * A daily close below the base of the descending triangle would negate this idea.
NYSE:VEEVLong
by HaseebKhan_90
2
JICPT| Will the 4th try work out for gold? Hello everyone. Days ago, I've mentioned gold weighed on weekly Descending triangle pattern, whilst was supported by daily demand zone. So, how the movement ended up with? Firstly, the daily demand zone got violated but it was false breakout with big bullish candle formed the next day. Secondly, $1808 pressure level which is in line with weekly descending triangle pattern is also violated. So sum up, price was volatile in the past few days. Now what? Gold is approaching the key level around $1835 for the fourth time. Will this time be different compared to other 3 previous times? Here is my trading advice. 1. Long setup : I won't jump in until the yellow zone is firmly violated. The pullback will be a good opportunity. Sellers might outnumbered buyers around $1835. Better wait until it's clear. Target is around 1880 . 2. Short setup : Wait for 'watch level' to be penetrated, then look for short opportunity on smaller timeframes, say 60m. Target is previous control low around $1767 . What do you think? Give me a like if you're with me.
FX:XAUUSD
by JICPT
2
XAU/USD 1861.035 SHORT IDEA * PRICE ACTION AND STRUCTUREHELLO EVERYONE HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE, HERE'S A LOOK AT POSSIBLE SCENARIOS THAT COULD PLAY OUT ON THE METAL IN THE COMING WEEK. > From the daily time frame we see gold struggling with the descending channel resistance that has already been tested multiple times in the past period. > Should the metal give a patterns at this level reversal pattern at that will be looking for short on the metal as the BEARS will control the market for a bit again as will be looking for a rejection. > Should we break above of this structure looking for confirmations with the bulls for continuation targeting resistance level 2075.00 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
OANDA:XAUUSDShort
by PULEMokhothu
2
PAR: BREAK OUT WATCHPAR: NEWS: PAR Government Systems Corporation , a wholly-owned subsidiary of PAR Technology Corporation (NYSE: PAR), today announced that it has been awarded a $490,400,000 ceiling, single award, indefinite-delivery/indefinite-quantity contract with cost-plus-fixed-fee completion and firm-fixed-price type orders for Counter-small Unmanned Aircraft System software, hardware, and technical documentation. This is the largest single contract award in PAR’s history. TECHNICALS: The price has been in a range for a few months, forming a kind of giant wedge (if you consider the lower grey line) or descending triangle (if you consider the blue line at 61). We have a strong support at 61. I'm looking for a break above the 1st resistance (grey line) and will most probably enter a long swing position once we break out. Let's see! All the targets/levels are on the chart (blue lines). Trade safe!
NYSE:PARLong
by Elpidaldo
Bitcoin is in a side way trend yet, 70000$ is ahead?Bitcoin is in a side way trend from 20 Oct and this movement was expected because of previous super strong uptrend which started after the big drop( 64K to 30K). 60000$ is a key level and important support zone for BTC , This support must be kept if we want to see another leg up around 70K. If a breakout of this triangle will be happen, and price can hold itself above 62600$, Next target is 70000$ IMO! Your Likes and Comments are the Best Thank you. Good Luck
Long
by TahaZargar
4
TRADE ALERT⚠️ - Harmony ONEUSDTHi people of Tradingview and my precious followers! There's something interesting that I want to share with you. If you look at the chart above, you'll see that ONE is in descending triangle. There are 2 options, it either breaks out to the upside or the downside. So what do we see on the chart?: - Volume is decreasing= this can be a signal for an explosive move in the future. - Bollinger Bands are shrinking= this can be a signal for an explosive move in the future. - We scan see a descending triangle. - Last swing low is higher than the previous swing low. - If you look at the RSI, you can see that it's forming some sort of ascending triangle. (I would take that with a grain of salt because it broke the resistance level in the past) Conclusion: These are all great signals that the price may have an explosive move. But until now, we don't know in which direction the price will go. So, if it breaks to the upside and it closes beyond the resistance level of the descending triangle and it also closes beyond the last swing high. That's when we can see some good gains. KEEP IN MIND: If BTC is gonna eat shit, the patterns don't mater. Altcoins will east shit too. That's it for this analysis. If you discovered something new or you thought it was quite valuable - give it a like to support this idea! If you don't like this idea, you can follow me. See ya✌️
by EliteTradingX
6
XRP - SUCCESSFUL PRICE PREDICTION✅Bonjour, guten Tag, Hello. I don't speak any of those languages btw. Google Translate does. I only speak english. Anyways, A couple days ago I alerted a potential trade for XRP. Entry Price: $1,06 Price Target: $1,22 Percentage gain: 15% TARGET HAS BEEN REACHED MY FRIENDS. So, to everyone who was in the trade...congrats! I'm waiting for my 10% cut from each of you'll trades. Just kidding...maybe not. BTW: If you want to hodl your money, and still be in the trade, that can also be an option.
Long
by EliteTradingX
#MIR 1D Chart - Something BrewingDescending Triangle forming on Mirror Protocol (MIR). Price has already seen such a downturn since MIR has started trading. Let's see if it will turn around. Keep in mind descending triangle pattern is a bearish pattern (generally speaking). But also remember this crypto hasn't seen a pump in a long time (feels like). Lastly, RSI seems to be ready for a breakout out of the triangle formation. What are your thoughts? Comment below and hit the like please. Thank you! Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk #bitcoin #altcoins
MLong
by MillionaireEconomics
Trading ALERT⚠️ - XRP Potential TradeHi everyone, the fact that you're reading this means that you want to make lots of money - Or you don't have anything else to do. Either way, welcome - cause you won't regret the time you'll invest in reading my analysis. So as you can see, XRP is right now in a descending triangle. I'm waiting for the triangle to break out, but I'm already in the trade tho. I bought at the support level right around $1,06. What am I expecting?: If this thing breaks out to the upside, which I think is very doable, then we can see a retest to the high of the triangle. What will happen next?: If XRP retests the highest high of the triangle ($1,22) and breaks that resistance level, then we could see higher prices of course. My opinion is that XRP is just a ticking time bom. Waiting to explode. Recap: - Entry: $1,06 - Price Target: $1,22 - Percentage Gain: 15% or higher
Long
by EliteTradingX
ALICE/USDT TRADE SETUP!Hello everyone, if you like the idea, do not forget to support with a like and follow. Welcome to this ALICE trade setup. ALICE looks good here. Currently, it's trading inside a descending triangle and soon it will breakout. Also, recently it's added to the list of metaverse tokens and you know the recent hype of metaverse. So I'm buying some here and adding more in dips. Entry range:- $12.9-$13.4 Target1:- $14.32 Target2:- $15.12 Target3:- $15.82 Target4:- $16.88 SL:- $11.88 Leverage:- 3x-5x If you like this idea then do support it with like and follow. Also, share your views in the comment section. This isn't financial advice. DYOR before investing. Thank You!
Long
by CoreCrypto1
GBPJPY - Descending Triangle breakoutFollowing up on last weeks $GBPJPY weekly head and shoulders top idea, this week the $GBPJPY or "The Beast" as we call it, is putting in a descending triangle which has me anticipating a bearish breakout. I'm not sure if it will come this week as the pattern has only just became valid, but certainly something that is very high on my radar as this is one of my favorite patterns to trade. If you have any questions, comments or just want to share you idea, please feel free to do so below. Akil
Short
by Akil_Stokes
1
Descending Triangle, either reversal pattern or continuationChart Pattern detection. The descending triangle pattern seems to be forming on the GBPJPY pair. The market is bullish on the higher timeframes and what we are seeing could be the pullback extended out forming an ascending triangle. Which will be a continuation pattern for a bullish continuation. However we can see where the pattern is completed and price begin to break down to the sell side. My bias is neutral while siding for buy. We will continue to see how the market plays itself out.
by jbodden345