ABNB Descending Triangle BreakdownJust broke down from the descending triangle, and closed below the 171 support level on the daily. Things are looking bearish.
Descending Triangle
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.
Todd River BullishTodd River Resources (ASX:TRT) is an Australian-based resources company that holds base and precious metal projects covering over 7,500 sq. km. of highly prospective geology in Western Australia and the Northern Territory.
2 potential scenarios.
Bullish:
- Short term Double Bottom
- Testing short term downtrend resistance
- MACD turning Bullish, anticipated cross
- RSI broken above the 50.00
- Daily close above MA 20
Looking for retest of Previous High and if it is to break I have identified higher levels with Trend Based Fib Extension.
Ongoing drilling programs and results pending.
Bearish:
If price fails short term downtrend resistance it most likely will retest Daily Support. If it cannot rally again I am looking for levels of Former Support and Longterm Uptrend.
NOTE: Potential Descending Triangle pattern forming highlighted in yellow.
"DISCLAIMER: NO ADVICE. The information presented here is general in nature and is for education purposes only. Nothing should be considered to be advice. You should consult with an appropriate professional for specific advice tailored to your situation."
Is The EV Hype Dying? Descending triangle - NIO (Daily)Hi everyone,
Quick update on NIO here. After a tremendous rise throughout 2020, NIO caught the eye of many people, me especially I first bought in at $14 but when it inched closer to $50 as soon as three months later, that was a big no no for me. So ever since then it went a bit higher. Fast-forward to today, however, it's back around $35, which makes me wonder...is the EV hype dying? Are valuations going back to normal? The on-going chip set shortage is clearly having massive strains in the industry. And recently, the prospect of higher bond yields, greater interest rates and a comeback of inflation may significantly harm fast-growing companies like NIO. The same would not really apply to Tesla, since it is already a well-established, grown-up company.
Now off to the chart - as you can see on the daily chart for NIO here, you can clearly see a descening triangle with decreasing volume. This is alarming, because something that looked bullish a few weeks ago as a potential double bottom, is now looking pretty bearish. If price breaks anywhere below $35, NIO may see an even lower low later this month. The decreasing volume also confirms the pattern. However, there can also be a bullish approach to this. The price may squeeze, with the decreasing volume, and send the price back upwards towards $40. Nonetheless, there is a lot of uncertainty around this price action, so my guess would be to first assume a bearish case here, but be open to the idea of a price reversal.
Note: Not professional financial advice - please do your own DD.
Nio Is at a CRUCIAL point!
Where is Nio now: In a descending triangle, on the first support of $34.64.
- The descending triangle indicates bearishness but this is the third time it has been on this level which could result in a pullback back to the $39 levels or even $45 but by how weak the stock is right now it seems like it's going to be unlikely.
- RSI is still not oversold and EMA's still haven't passed which indicates more drops could come.
What could happen: If Nio goes below the second $31 support then it won't see blue skies for a while, its next support would be at around $27 which could be weak, and then hitting something in the $16 area.
The only good thing going on for Nio right now is its Sinopec collaboration. Nio is a very good company in the long term that could grow exponentially. However , Nio is too big of a risk at the moment to invest in the long term and I would just hold on for a while before buying as it is pretty unstable.
Nio might be a descent swing for the next week but still risky.
PDD: You should be aware of this chart pattern!Hello traders and investors! Let’s talk about PDD today! It is the first time I analyze this stock, and I hope my insights can be helpful. In this analysis, I'll present you two strategies to follow.
First, in the 1h chart, we have a Descending Triangle chart pattern, and the trend is clearly bearish, as the 21 ema is pointing down, and the price can’t trade above it.
This makes the situation more favorable to the bears, at least in the short-term , and as long as we don’t see a clear breakout upwards from this Triangle, the bear trend will persist. This Triangle is the best chance PDD has to reverse this bearish sentiment.
Now, there’s two strategies we can use. First, if we see an upwards breakout, second, if we see a downwards breakout. Either way, this Triangle is the key, and the targets are better seen in the daily chart:
If PDD breaks this Triangle downwards, then it’ll just seek the next support level, and the most meaningful support is the red line at $ 121.28. Then we’ll see how to proceed. Maybe PDD will lose this line, or it could do a nice candlestick pattern and trigger a possible Double Bottom pattern – we can’t know for now.
On the other hand, if PDD does an upward breakout from the Triangle in the 1h chart, the next resistance is the target, which is at the green line ($ 152.06). This is also a pivot point , and the trigger of an Inverted H&S chart pattern , as evidenced by the green area. If triggered, this pattern will officially reverse the trend in the mid-term , and PDD would have a first target at $ 188 , and it could go even higher, above $ 200.
Since PDD is dropping with low volume , this makes me wonder if this bearish movement will have the strength to persist.
Either way, we must keep watching PDD closely, and if you liked this analysis, remember to follow me to keep updated with my daily studies, and please, support this idea with your like!
Thank you very much!
GBPJPY - descending triangle provides sell opportunityD1 - bearish divergence.
H1 - descending triangle.
If we get the breakout down, i'd expect 148.50/70 zone to be reached.
ISORAY Looking bearish at the moment. I only see bullish signals when we see a double bottom. But the volume is still missing.
OMGUSDT descending triangle - LONG position - Target 11.25 OMGUSDT is soon going to break out of Descending triangle. This is very bullish.
