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Descending Triangle

GBPUSD BEARISH CONTINUATIONBritish Pound Price continue trading in descending channel . GBP pulled back from upside of channel few days ago. From the upper channel trendline it was good moment to sell. The short position continuation can take next good level (1.31000) as a target. GBPUSD made the first drop of 700-1000 pips last week. The support 1.3100 is strong and could retreat and bounce to 1.3500. If the bad CORONA virus news affect more in Europe it can drop easily to 1.3000 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.
Short
by legacyFXofficial
USOIL looking for a retracement? 🦐USOIL on the 4h chart after the recent expected drop has bounced over a daily support. The price is currently testing the upper trendline of a descending channel near to a minor resistance and according to Plancton's strategy if the market will break above and satisfy the ACADEMY rules we will set a nice long order. -–– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
TVC:USOILLong
by InkyGrip
12
Bitcoin is about to take off! Get Ready!Bitcoin continues to repeat itself. Will it do it again? The current RSI has formed an almost identical pattern as it did in September. During this time it was forming a descending wedge/pennant/triangle. Currently we are near the apex of an identical wedge and the RSI reset almost exactly like this at the end of September before it took off from 39K to 69K. We also appear to be bottoming out on the Bollinger Bands, as we were in September before making a 30K move. The first wave up was 23K and the second wave up was 30K. I anticipate a breakout move to 80K from here. That would be about a 25K move from the bottom(assuming 55K is the bottom).
BITSTAMP:BTCUSDLong
by anamaly
1
Bitcoin, where to buy?Hey, Bitcoin supporter out there. You might be planning to buy on the next Dip, so exactly how low can it go? It depends if you are looking from the trading perspective or investment perspective. Trading perspective, one will prefer a more accurate price so they can trade from the low and profit from the difference. However, if you come from the Investment perspective and you had plans to buy Bitcoin at $63,000, at the current market price of $57,775.65, you are getting a great discount, more than $6000 discount. If you have joined us 2-3 live sessions ago, you would have remembered that I've said that there is an AB=CD Pattern complete at $64,000. At that point, we do not know what causes it, but we know there is a potential for it to have a retracement. If you are looking from an investment perspective, between $54,045.67-$49,539365 is an area you can look out for the opportunity. If you are looking from a trading perspective, between $50,917.72-$51.417.16 will be a good level to wait for candlestick pattern confirmation for a buying opportunity. If the market break and close below $49,539.65, it will send Bitcoin to $48,319.28 and even $44,845.89 before any movement towards the upside. Understand the market you are involved in, the risk it may occur and be Prudent in your Investment, Trading or Speculation.
BITSTAMP:BTCUSDLong
by RaynLim
4
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