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Descending Triangle

📚Trading Lesson. Triangle Types & How to Read Them📚 Triangle is a classic price action pattern that is applied by technical analysts to make predictions trading different financial markets. Depending on the shape of the triangle, there are three main variations of this pattern. Its meaning changes dramatically from one to another so it is crucially important for you to know the difference. 👉 The symmetrical triangle is determined by two contracting trend lines. The pattern is considered to be indecisive meaning that while the market is stuck within, the directional bias is unknown. Only the breakout of a boundary of a triangle clarifies the future direction. 👉 In contrast, the ascending triangle (also called a bullish accumulation) is a classic example of a bullish biased pattern. With a horizontal trend line serving as resistance and a rising trend line service as support, the market is accumulating volumes for a bullish breakout. Once the horizontal resistance is broken, bullish continuation follows. 👉 The descending triangle is a bearish biased pattern. Also called a bearish accumulation, the pattern indicates the preparation of the market participants to set a new low after consolidation and contraction within a triangle. Once the horizontal support is broken, bearish continuation follows. 🔔Please, support this educational post with a lovely comment and like. Also, subscribe to our page for more educational posts & signals.🔔
BITFINEX:BTCUSDEducation
by UnitedSignals
14
Doge DOGEUSDT - Bearish symmetrical triangle TARGETS.- DOGE is not looking good from the technical perspective. - The price is below 2 trendlines and below the symmetrical triangle on the daily chart - You can sell/short dodge on Binance or any other crypto exchange. - For expected duration of the trade, probability, stop loss, profit target, entry price and risk to reward ratio (RRR) - please check my signature below ↓ - If you want to see more of these ideas, hit "Like" & "Follow"!
Short
by UnknownUnicorn2537518
10
GTII is trading in a GIANT Descending Triangle.It's always possible this pattern plays out bullishly as a bull flag, a directional shift in momentum will likely occur leading up to earnings or a sell-off afterward. On September 1st GTII will report their next earnings, and the ending of this pattern is September 24th, Descending Triangles and Bullish Flags more often than not make a decisive move in one direction or the other, whether it's a fake-out or not, 50%-75% through the pattern formation.
CSE:GTII
by ScotianBot
ENJ/USDT expecting continuation of the bearish movement.Hi every one ENJIN COIN / TETHERUS as you can see ENJ/USDT has been falling for a while and the Bearish Trend line which It has created has not been broken so there is a chance that the price remain bearish. also we can see that the price has formed a Descending triangle which of course means the price has still room for Decreasing .there is also a Hidden bearish Divergence(-HD) on RSI as well which well suggest a bearish Movement as well! Traders, if you liked this idea or have your opinion on it, write in the comments, We will be glad. Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!! Thank you for seeing idea . Have a nice day and Good luck
Short
by CobraVanguard
16
XRPUSDT Ripple - Descending Triangle-We have 3 touches at the bottom and 2 touches at the top of the triangle. -Descending patterns are usually bearish signs, but there is a chance to interpret this patttern as a descending wedge, which is bullish. - Volume is decreasing, which leads to explosive moves in the future. - For expected duration of the trade, probability, stop loss, profit target, entry price and risk to reward ratio (RRR) - please check my signature below ↓ - If you want to see more of these ideas, hit "Like" & "Follow"! -Keep this triangle in mind if you are in a long position. -Also check my idea about XRP - Road to 100 USD below.
by UnknownUnicorn2537518
7
🥊 All ways for Bitcoin 🥊Hi, thanks for spending your time on my posts 🙏. Bitcoin Analyze ( BTCUSDT ) Timeframe 4h ⏰ (sorry for the busy chart, but my chart needed these lines). We saw a great pump for about 1 day and 8 hours 😱 (One of the reasons was for Elon Musk's Group (Tesla) ). Ascent slop was 70 degrees (normal degree is 45 ), so I expected that the uptrend will not continue like before (it's like ❄️ snowing ❄️, when we are watching heavy snowing, most of the time snowing will stop soon). Location : Bitcoin's Correction has started around 64200$ (The Corrective structure is Zig Zag 5-3-5 ). If you followed my posts, we found End of microwave 4 of main wave C ( 40840$ on Descending Triangle ). after that we had to find the end of microwave 5 of main wave C ( End of our correction ). If the price goes UP over 42400$ , I can say that the end of microwave 5 is 33179$ ( Point D on our chart), also we are on 5 new impulsive waves. Otherwise, microwave 5 will be the complex type (WXY_WXYXZ). Patterns : Bitcoin was able to make Descending Triangle , but this pattern failed yesterday by that pump (Pay attention to Point E ). At our triangle, I found a Reverse Head and Shoulder Pattern that the upper line of our triangle was the necking line of this pattern + Bullish Flag pattern (Inside of our triangle). In addition, I tried to show you our Resistance Zones that we have in front of Bitcoin . Resistance zones on Bitcoin's way (Respectively): Resistance zone : 41340$ until 40800$ ( Resistance + Cluster of Fibs )/ The price is behind it right now == Medium Resistance Resistance zone : 42250$ until 4225$ ( Monthly Pivot Point + Bearish AB=CD Harmonic Pattern + Cluster of Fibs + Pitchfork's line + Fib circle )/ I don't think that Price can break this zone just with one test.== Heavy Resistance , pay attention to green Rectangle. Resistance zone : 44280$ until 44071$ ( Bullish Flag Pattern's Target + Cluster of Fibs + point D of Bearish Deep Crab🦞 ) == Medium Resistance Resistance zone : 46186$ until 45320$ ( Resistance + Cluster of Fibs + Yearly Resistance 2 + Reverse Head and Shoulder's Target )/ == Heavy Resistance My Suggestion : First Altseason has ended ( i am talking about now), so better, we try on Bitcoin For buying or open Long positions/ If you find triggers for buying bitcoin, please do not buy your fund just in one step , enter in your trade with 2 or 3 steps // if you want to find triggers for Short positions, you can concentrate on TRZ and Resistance zones , especially on a green Rectangle .// Also, you can watch my Hypothetical ways , I will try to update. Again sorry for the busy chart, if you have questions, please write them below this post. (If you like my explanation, please like ✅ my post. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy , this is just my idea, and I will be glad to see your ideas in this post. Please do not forget the 'like' button 🙏😊 & Share it with your friends, Thanks, and Trade safe. Good luck
by pejman_zwin
2
BTC - 4hr Chart update and the importance of where the candle......closes BTC has has said good riddance to the Bearish Descending Triangle it was in. BTC is back in the Bullish Zone of the Ichimoku Cloud for this 4hr timeframe. Note we have had a Cloud (Kumo) Twist into a bullish green cloud for this 4hr timeframe. BTC is back above its 50EMA for this 4hr timeframe. BTC is back above its Bollinger Bands Middle Band Basis 20 Period SMA. Note that the Bollinger Bands Upper and Lower Bands are expanding further apart indicating increased volatility and that the price found some resistance at the upper band. BTC is back above its Volume Profile Visible Range VPVR Point of Control (POC) for this chart set up. I have added a Volume Profile Fixed Range VPFR and as you can see, BTC is above that Point of Control (POC). Reason for adding the VPFR is that it gives a more clearer macro view of buyer and seller volume and where the key points are for the range that i’ve selected, whereas the VPVR gives you the amount for whatever length you have your chart set at which could be potentially misleading. Blue representing Buy Volume and Yellow representing Sell Volume. Note that the last 6 4hr candles closed above its Volume 20 Period Moving Average. The Average Directional Index (ADX DI) is indicating a strong trend with the ADX (Yellow Line) at 27.02 back above its 9 Period EMA (Blue Line) which is at 22.64. The +DI (Green Line) is at 32.90 and has crossed back over the -D (Red Line) which is at 10.77 indicating that positive momentum is now stronger than negative momentum for this 4hr timeframe. The Chaikin Money Flow (CMF) is showing that BTC is back in the Accumulation Zone with the CMF (Green Line) at 0.14 and back above its Least Squares Moving Average (LSMA) which is at 0.08 indicating renewed accumulation strength for this 4hr timeframe. As i mentioned in a few previous BTC post, a very CRUCIAL level for BTC was the Weekly 50EMA, a few traders were posting on TradingView saying that BTC was going to sub $20K, they ignored the fact that BTC would FIRST have to CLOSE this weekly candle below the weekly 50EMA, BTC did wick below it, but it did not close a weekly or a daily candle below the weekly 50EMA level. For whatever timeframe you are in, especially longterm, it is important to remember the IMPORTANCE of where the CANDLE CLOSES. Otherwise…. you’ll just be wick-ing about! :-) As you can tell, my post are not price prediction post as there are many more experienced traders on TradingView already posting their predications, my post are more educational, showing what these various indicators & squiggly lines that i use are showing me, so I hope this is helpful with your trading and hodl-ing.
BITSTAMP:BTCUSDLong
by entertheroach
3
USDCAD 1.21507 + 0.47 % SHORT IDEA * PRICE ACTION + STRUCTUREHELLO EVERYONE HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE, READY FOR THE MARKET THIS WEEK, HERE'S A LOOK AT THE U.S DOLLAR / CANADIAN DOLLAR FROM THE 4 HOURLY CHART. The pair has been trading in a falling wedge which saw a break above of this continuation structure, looking at the not so fa historic data the pair is definitely no stranger to fake-outs, so looking for a reversal on this one, should structure hold targets 2 & 3 come into play as this will signal continuation. below is what i had last week on the pair, never triggered. 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 - INTRA-DAY TRAD
Short
by PULEMokhothu
Will BTC Breakout or Breakdown ?In the previous analysis we saw BTC in a bearish pennant or a symmetric triangle formation which first broke to the downside but then an impluse brought the price back inside the triangle due to which now BTC in a daily time-frame is forming a DESCENDING TRIANGLE ( Lower Highs and series of Lows ) which is believed to be a bearish pattern and suggests that the downward momentum is building and a breakdown is approaching but since we know how BTC never fails to surprise the market participants we'll wait for it to see how this scenario plays out. For Educational Purposes only (DYOR)
COINBASE:BTCUSDShort
by Wolf_Of_Alt_Street
4
💥BITCOIN TRUE BREAKOUT - TO 🚀 TO $50,000🔥As we can all see, we have a falling wedge pattern. Price broke out successfully at $36,000 with a pull back and we now have an uptrend in place. Therefore, I expect price to continue in this new trend, long to $43,000, short to $39,000. Another long to $46,00, short to $43,000 before a good BUY to $50,000. What do you think? Share your opinion in the comment section✍️ Please support this idea with a LIKE👍 if you find it useful🥳 Follow me to receive more updates on this pair🤙 Comment any coin you need my analysis or forecast on📈📉 Happy Trading💰🥳🤗 Thank you for your support!💓
BITSTAMP:BTCUSDLong
by PetrockFxTrading
This is starting to look more like Re-DistributionI am comparing the re-accumulation zone back in January to now. Both the differences in the pattern and also the differences in the indicators. Volume, MACD (the histogram portion) and RSI currently are showing weakness after showing a bit of strength which is the opposite of what was shown during the accumulation stage in January. A point of interest on the chart is that the current support seems to have been the accumulation area below it in January as shown the chart. Things that could change my mind is that there will most likely be a further decrease in price coming soon. If it can bounce once more and break back through the current descending triangle, with a retest, then it would finally have that show of strength that is missing now for an accumulation zone. If the trend changes: I would say a break through would target the 50 DMA which is currently cutting through the old support. Another bounce area soon might be the 50 week MA (~29k) which may suggest that might be a potential spring area to retest the descending triangle once more and try to break over. If the markdown does continue: A complete breakdown could drop it towards the 17.5k area but never too clear on these. An overshot of any target before a bounce is always possible too. Wyckoff distributions usually lead to another re-distribution area after the initial markdown in price. That is currently what I am seeing now unless things change. Becareful trading out there as these times are meant to confuse and do the unexpected at least during the micro timeframes. One thing to add is even a breakthrough may not go far as the macro for BTC still is very negative. ***Disclaimer: I am not a financial professional/expert and all ideas from me are all speculation based off of my own research. Please do your own research as well as I am not responsible for others when it comes to their financial decisions.***
BITSTAMP:BTCUSDShort
by WITSIT
2
BITCOIN - Descending Triangle Wave 4Having flip flopped a bit in the previous thread, I think I'm back on track with this projection - Bitcoin is in a Intermediate Wave 4 descending triangle, which will take crypto into the real bear market. This imo is a much cleaner count than what I had with the pennant. It never felt right how the E of the pennant popped out, but this one I feel is on the money, will not be broken and reminiscent of the long 2018 descending triangle - 6K, and we know how that ended. This as I have said before will probably be a truly devastating capitulation and I have a feeling we'll see all-time-lows on the daily RSI and other indicators. Trend based fib time there as a marker, will perhaps be relevant. I'm short right here and will hold into the next capitulation - just like last time. Will update on targets later. Not advice.
BITSTAMP:BTCUSDShort
by dRends35
38
BTC's bearish pattern!Hi every one Bitcoin / U.S. Dollar BTC is forming another bearish sign! as you can see in lower time frames the price is forming a Descending triangle! the price is expected to reach 30k from this point again! 30k is pretty strong support for Bulls if they lose it,Bitcoin can just fall to 20k! but we've seen before that a Descending triangle break the pattern upward and that might happen right now! If it happens BTC can go to 40k! Traders, if you liked this idea or have your opinion on it, write in the comments, We will be glad. Thank you for seeing idea . Have a nice day and Good luck
COINBASE:BTCUSD
by CobraVanguard
13
Descending TriangleIn the last hour the BTC where rejected from the upper trendlinie of the purple descending triangle. Now there are two secnarios: The red level (~36.800) gives support (the level gave support in Jan 2021 and was already a Fib level in the major price movement in the last month--> see Fib tracement boxes at the very left). Then we have high possibility to break-out from this descending triangle The red level (~35.200) gives no support. Then some some consolidation could happen in the region down to the green level. Where a break-out tow lower price levels has high possibility. And then we may retest the lower line (~31400) of the descending triangle. Then it will get very interesting, since we would retest it the fourth time, which give high possibility that it will not hold. And the next price targets would be most probaable below 30.000.
Short
by MichiBTC2021
💥HISTORY TO REPEAT ITSELF, BTC TO RISE AGAIN 20th-22nd JUNEAs we can all see on this chart, this is replica of what happened early this year (January, 2021). On 8th January, price found itself in a tight triangular zone and eventually left the zone 21 days after with a breakout and a retest which led us to $57,500. History repeated itself again and price got into the same tight triangular zone on 19th May 2021 and it's still dwelling within the zone. Therefore, I expect an upward breakout from the triangle and a pull back to confirm a good buy to $57,500 just as I happened on 29th January. Therefore I expect Bitcoin to regain it's full rising strength within 20th-22nd June. This idea is invalid if price breaks the support zone within $28,800-$30,000 downward to $26,000. What do you think? Share your opinion in the comment section✍️ Please support this idea with a LIKE👍 if you find it useful🥳 Follow me to receive more updates on this pair🤙 Happy Trading💰🥳🤗 Trading Involves High Risk⚠️ Not Financial Advice💸 Use Proper Risk Management💹 Thank you for your support!💓 NB: If you would like to have one-on-one interaction with me about analysis of coins or currency, DM me.
BITSTAMP:BTCUSDLong
by PetrockFxTrading
💥TWTUSD BUY OPPORTUNITY - TO PUMP TO $0.4 $0.5 & $0.6Trust wallet token is in a downtrend as seen on this chart. Also, we have a descending triangle too on the chart. Price has tested the support trendline the third time and didn't break it. Therefore I expect a bullish movement to $0.4 first. If Price break the trendline, then $0.5 and $0.6. What do you think? Share your opinion in the comment section✍️ Please support this idea with a LIKE👍 if you find it useful🥳 Follow me to receive more updates on this pair🤙 Happy Trading💰🥳🤗 Trading Involves High Risk⚠️ Not Financial Advice💸 Use Proper Risk Management💹 Thank you for your support!💓
Long
by PetrockFxTrading
USDJPY 109.513 + 0.25 % LONG IDEA * MONTHLY OVERVIEWHELLO EVERYONE HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE IN THE MARKET THIS WEEK, HERE'S A LOOK AT THE THE DOLLAR / JAPANESE YEN FROM THE MONTHLY CHART. * This is an overview for a bigger picture , direction & sentiment of the pair 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 - INTRA-DAY TRADE
Long
by PULEMokhothu
4
BTC - It's going to be a very interesting weekQuick BTC daily chart update. BTC is below its Bollinger Bands Middle Band Basis 20 period SMA on the daily chart. The Bollinger Bands Lower and Upper Bands are expanding apart indicating volatility has increased. BTC is way below its Volume Point of Control (POC) for this visible range on this daily chart. BTC has broken downwards out of its Symmetrical Triangle on this daily chart. BTC had wicked out of its Descending Triangle pattern but has managed to close a daily candle back inside the pattern. The bottom of the descending triangle pattern is at the same level as where the WEEKLY 50EMA currently is. This BTC weekly 50EMA is a very crucial level. Remember that we are at the beginning of the week so the weekly candle has a possibility to wick below the weekly 50EMA as it has done so tonight, but it’s crucial that BTC CLOSES THIS WEEKLY CANDLE above the weekly 50EMA. The Chaikin Money Flow (CMF) is indicating BTC is still in the Accumulation Zone with the CMF Line (Green Line) at 0.06 and above its Least Squares Moving Average (LSMA) which is at 0.03. It should be a very interesting week. I hope this is helpful with your trading and hodl-ng.
BITSTAMP:BTCUSD
by entertheroach
6