Filecoin approaching breakout pointFILUSDT has almost completed a triangle (3-3-3-3-3) corrective pattern. A continuation of the prior uptrend is likely following a breakout of this descending triangle.
Descending Triangle
USD/CHF Signal - USD Durable Goods Orders - 26 Apr 2021USDCHF is finding support prior to the USD Durable Goods Orders data, which measures the cost of orders received by manufacturers for durable goods, which means goods planned to last for three years or more, such as motor vehicles and appliances. Technically the pair is at the key support zone, and has made a break to the upside of a descending wedge pattern. The PPO has performed a bullish cross.
Dogecoin Retracement The Dogecoin hype being lead by Elon Musk will potentially continue through the remaining months of the Bull-run to a final price target of $1. Before we continue to trend higher, a correction is due for Dogecoin while other altcoins increase in capital. The MACD crossover is indicating the sellers are now regaining control of the price after an extended uptrend. The RSI also presents that DogeCoin has been in a overbrought state and was previously supported by the upper 70% line on the RSI, however this level of support has currently been broken and failed to break back above 70% on the retest further indicating the probability of a retracement is likely. The price target for this short position is taken from the largest point of the descending triangle and placed below where the point of breakout. $0.445 which is the 0.618 fibonacci level which previously acted as resistance when DogeCoin created an all time high.
WAVESUSDT DESCENDING TRIANGLEWAVESUSD is showing a descending triangle pattern in the hourly time-frame. Because it is still in a upper trend, the brekout is expected to be upwards.The bollinger bands are tight right now so that means there will be a bulky movement upwards or downwards. To open a position we have to wait for the break out and a possible re-test. This is not a financial advice. Do your own research!
Bullish Flag or Descending Triangle for Hive?Hive appears to have consolidated into a GIANT Bullish Flag or Descending Triangle pattern.
The horizontal baseline of the pattern has acted as support numerous times, and this specific price range has a lot of confluence dating back to early January of this year when it acted as a ceiling resistance before Hive sliced through it like butter surging over $7.00 CAD before selling off.
I have placed green upward arrows displaying three separate support bounces off the horizontal baseline of the pattern formation and red downward pointing arrows where the horizontal it once acted as resistance, inherently bullish considering this same price range has confluence dating back to Nov 2017 and it was acted as resistance back then..
Bullish cross on the KST where I have placed the downward pointing finger.
The DMI is displaying a Bullish twist where I've placed the blue upward pointing finger.
$8.00 CAD price target which is the extension target of this pattern if it plays out bullishly.
BABA's tightening coil to spring up or down?BABA appears to be forming a coiling wedge, or descending triangle, off of a prior bullish trend. So a strong break out or down seems likely on the classical expectations of this formation. Which will it be? It seems easier, based on Alibaba's fundamentals, as well as retested support forming the base of this triangle, that it will break out (ie, up), not down. Let's see...
SUSHI/USDT is on verge of descending and ascending!Hi every one
SUSHI/USDT
SUSHI/USDT has been in a descending triangle for quite some time! the triangle has broken downward and the pullback to the triangle bottom line has been done which means the price is ready to continue the bearish movement as much as the measured price movement(AB=CD) but there are some signs that might make the price move the opposite of what we expect! as you can see there is Hidden bullish divergence (+HD) on MACD and the MACD line is about to Cross the Signal line upwardly this means there is a Chance that SUSHI would increase and break the descending triangle pattern and start a strong bullish movement!
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
$LINK: Is bullish. That's it. That's the post.- Massive upper trend line about to be tested. Let's see if it can clear that.
- Turquoise horizontal lines are previous highs and lows = probably S/R levels.
- Both super trends are BUY on the 4 hour chart.
- True Vibration is showing a long green buy zone. Looking for the invalidation around this level too.
- Bollinger bands are pretty wide, but bottom band and top band are both starting to point up. = bullish continuation of volatility.
If $LINK breaks above that upper trend line from the last few weeks. I'd expect it to pump, retrace to retest one of those horizontal S/R levels, and then to continue on it's grind towards 3 figgies and beyond.
Once staking is announced, all bets are off. That will be a massive buy the rumor event. $100 would be a pit stop when that happens.
A failure to break above that upper trend line would probably see us retest the 35.20 level, and if that doesn't hold then back down to 30 which has established itself as a strong floor. If it hits 30 again? I'm giga chad high leverage longing. Full send.
Either way though? I'm LONG term hold on this. Passive income from the most important crypto in the entire space is part of my long term plans. If you know, you know.
Solar Energy descending-triangle BreakoutSolar energy ETF is currently breaking out of a descending triangle.
There are multiple resistance levels to take into account. However, a measured move from the current break of the triangle, is taking us to $113 approximately, which is my mid-term target.
MACD has been uptrending while the price has been downtrending, the divergence is bullish signal for this breakout to hold.
The MACD histogram has also been positive for the divergence period.
Volume still needs to improve.
FLMUSD - LONG TO $1.12 IN TWO DAYS🚀🚀FLMUSDT BUY/LONG
Zoom in🔍
Study the chart
Follow the Green arrow
For Spot and Futures Traders
Entry - $0.714
Tp1 - $0.9
Tp2 - $1.1
Tp3 - $1.2
Stop loss - $0.5350
Choose your leverage
As we can see on the chart, FLM is consolidating/ranging. Price was unable to break the demand zone, downward. Also price is about to break the symmetrical triangle upward.
If the breakout is successful, I expect price to reach my target at $1.120 in 2-7days
What do you think?
Share your opinion in the comment section✍️
Please support this idea with a LIKE👍 if you find it useful🥳
Also, kindly cheer me with coins if you like my work.
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Happy Trading💰🥳🤗
Trading Involves High Risk⚠️
Not Financial Advice💸
Use Proper Risk Management💹
XRPUSD - SHORT TO $0.80, THEN LONG TO $1.80XRPUSDT BUY/LONG
For Spot and Futures Traders
Entry - $0.79 - $0.84
Tp1 - $1.14
Tp2 - $1.30
Tp3 - $1.45
Tp4 - $1.70
Tp5 - $1.80
Stop loss - $0.62
Choose your leverage
Apply risk management
As we all know that when there's a breakout from a zone, there will always be a pull back.
Also, we know that once price is within a descending triangle, price will surely breakout from the triangle.
These two scenarios are currently existing on the chart. All we need is a price rejection from the zone for us to go long.
Let's go through this together. We can all see that price broke out the supply zone at $0.78615 then went straight up to $1.90 and is currently in a downtrend back to $0.78615 where it broke out. Thereafter, we expect a bullish movement if we get a reversal candle.
Also, price is currently in a descending triangle. I expect it to breakout and go long.
These two possible moves are what I feel will make the price go back to $1.90 and upward thereafter.
Share your opinion in the comment section✍️
Please support this idea with a LIKE👍 if you find it useful🥳
Also, kindly cheer me with coins if you like my work.
Follow me to receive more updates on this pair🤙
Happy Trading💰🥳🤗
Trading Involves High Risk⚠️
Not Financial Advice💸
Use Proper Risk Management💹
BTCUSD COINBASE: 4HR : Descending Triangle.Classic "Descending Triangle", whether or not I'm contradicted by the Bulls is yet to be seen. Nonetheless the triangle is here in plain sight and expect a downward trend to the 61.8 ($44k) as I have noted in my weekly chart dated 19th April. Take care out there and don't try and catch falling knives, they hurt!
PLEASE NOTE: This is not financial advice.
ABNB Descending Triangle BreakdownJust broke down from the descending triangle, and closed below the 171 support level on the daily. Things are looking bearish.
Food for thoughts 22-04Doesn't feel very bullish at the moment. Bitcoin always has a way to suprise you, but this descending triangle* (bearish continuation pattern) looks like a recipe for more downside, before going up again. Took some BTC and ALT profit of the table last tuesday (after the dip) and looking to take some more around 56K. Love to be wrong tho..
* A 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
Descending triangle break out. I'm thinking this turns bullish.On the 4H, we see a break out of the descending triangle. Also, seeing the MACD about to cross. What I'm worried about is the RSI is heading to the overbought zone.
Possible move to $180? I'm watching to see what happens. NASDAQ:PTON
Still learning. Feedback welcomed.
XRP Descending TriangleXRP has been in a downtrend for some time now and is now starting to break that. If we break the 1.43 resistance we could see an easy push up to 1.63 area. If it bounces off and breaks the bottom we could see a drop-down to 1.09 area.
NEOUSDT Long PositionDescending triangle Pattern Formation are a bearish/Bullish formation that anticipates a downside/upside breakout. If breaks Above line then it will be reach to 130-136 and if breaks the base support ine then take a short position. Wait for breakout.
TP 136
SL 90
Thanks in Advance
Descending Channel for QC Copper & Gold?It appears as though QCCU is trading in a descending channel, if the bottom support is lost then be very cautious.
On the KST there's been a bearish cross where I have placed the red downward pointing finger.
The DMI is showing a bearish cross where the red line has crossed over the blue in an upward motion, I have placed red finger icons as some other similar previous examples. Keep an eye on the DMI because it's possible the blue line crosses over the red and orange in an upward motion this week if there's going to be a bullish reaction off of the bottom of the descending channel pattern.
The dark red line on the chart represents the baseline of potentially a descending triangle or bullish flag formation, when viewing from a longer-term time perspective than a 6-month chart it becomes more apparent.
This chart is done on a log scale, I will link another chart done differently.
If this was a descending triangle or potentially a bullish flag the baseline of support has been lost.
USDJPY 108.077 - 0.61 % LONG IDEA * MONTHLY OUTLOOK SWING IDEAHELLO EVERYONE
HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE IN THE MARKET THIS WEEK, HERE'S A LOOK AT THE DOLLAR / YEN FROM THE MONTHLY PERSPECTIVE.
* The pair has been range bound in a descending triangle for a long time now multiple months which saw a break out last month or rather two month back currently rallied down for a retest on the structure looking for continuation patterns for a change in sentiment as we approach a bullish rally on the pair.
* follow your entry rules on entries
* significant moves with the bears change the plan.
lets see how it goes.
many stars must align with the plan before executing the trade, kindly follow your rules.
HAPPY TRADING EVERYONE & LET YOUR WINS RUN...
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ENTRY & SL - FOLLOW YOUR RULES
some rules on exits & entries hope they help.
1. look at structure be it descending channels, pennants and so forth basically price action whats price doing.
2. If you use indicator determine does it align with your play e.g is it overbought/oversold where there market is it in a pull back to structure or continuing does price alighn with your indicator.
3. entries from 30M , 1H, 2H & 4H time-frames the higher the time-frame the more likely it will end up swing or long term.
4. aggressive trades can be executed on the pull back / or at ranges of structure that's when you are a scalper or your trade are Intra - day based
5. price action must definitely align with the plan.'
6. structure definitely
7. FIBONACCI EXTENSIONS AS GUIDELINES FOR SL & TP'S .
9. CANDLE STICK PATTERNS.
That's basically entry & exits plan basic guide lines
RISK-MANAGEMENT
PERIOD - SWING TRADE
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If this idea helps with your trading plan kindly leave a like definitely appreciate it.
DOGECOIN took support at 0.24-0.26 and forming a Pattern on 1H▫️DOGE took support at 0.24-0.26 price ranges and forming a descending triangle pattern.
✅ You can add positions if the trendline breaks with high volume.
✅ Book profits partially for every 10% increases on doge.
✅ If the support breakdown then wait for next opportunity.
✅ If you're beginner it's better to stay away from Doge.
Note: A descending triangle can be either bearish or bullish. Traditionally, a regular descending triangle pattern is considered to be a bearish chart pattern. However, a descending triangle pattern can also be bullish. In this instance it is known as a reversal pattern.
Fake-out of an Ascending Triangle for BTC?It appears as though Bitcoin has pulled a fake-out to the upside of an ascending triangle but has found support on the blue upward sloping support of the pattern..
On the RSI there's clearly a lower high after lower high since BTC reached ATH's forming a descending triangle pattern, but the downward sloping resistance is on the verge of being breached to the upside.
On the KST there's a bullish cross where I've placed the blue downward pointing finger.
Every time BTC has broken the horizontal resistance to the upside there has been a swift rejection by the bears.
I have placed red downward pointing fingers displaying how often this has taken place to put things into perspective.
