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Descending Triangle

NIO: Good Risk/Reward ratio? Key points for NIO!Hello traders and investors! Since our last study, NIO didn’t trigger the pivot point we mentioned, but it still could. Let’s see how it has been behaving. First, in the 1h chart, we have a slow and weak bearish movement , but it seems NIO found a floor around the green line at $ 36.82, and it worked multiple times as a support level. What’s more, we have a purple trendline connecting the descending tops, making this something like a Descending Triangle chart pattern. And it is great that today we have an upwards breakout from this pattern, as this could trigger a very nice reversal in the short/mid-term. Nio must keep above the purple trendline now, and above the 21 ema, if NIO wants to reverse the trend in the daily chart as well. Speaking of the daily chart: In the daily chart, we still see the orange line at $ 42.05, which is the most important pivot point to be triggered . If the trend reverses in the 1h chart, then probably NIO will trigger this pivot point for good. The risks: The volume is still too low, so we must see a good reaction with good volume first. In addition, the 21 ema seems to be a strong resistance level too, and since the sell-off started, at any moment NIO traded above it. But if it triggers the points mentioned, NIO could easily seek again the $ 66.95 , as the trend is still bullish in the long-term, so, it seems the odds favor the bulls in the end. Now, if you liked this analysis, remember to follow me to keep in touch with my daily studies, and support this idea with your like! Thank you very much!
NYSE:NIO
by Nathan_The_Finance_Hydra
15
Descending Channel for TNY?!?!TNY appears to be trading in a descending channel on a micro-level. Descending channel patterns are short-term bearish in that a stock moves lower within a descending channel, but they often form within longer-term uptrends as continuation patterns. The descending channel pattern is often followed by higher prices, but only after an upside penetration of the upper trend line. On the KST there has been a bullish cross where I've placed the green downward pointing finger. On the RSI the downward sloping resistance of a descending triangle pattern is being negated, very bullish and it's possible the price will breach the blue downward sloping resistance of the descending channel to the upside if Tinley can release some note-worthy news next week, don't hold your breath. A breakout to the upside means there's a shift from bearish sentiment to bullish. It’s recommended that buying into this break should occur after multiple tests of the upper channel line. The reason being breakouts early on in the channel often lead to traps as shorts push the price of the stock back down to the lower end of the channel.
CSE:TNYLong
by ScotianBot
1
USDJPY Series of Lower Highs | Descending Triangle | 2.38RSee Price Range 110.964 to 110.387. You will see a series of lower highs going into the support line. Support line was broken and turned resistance. After the break, enter on the retest of resistance line (110.387). Price broke exponential moving averages (dynamic support resistance) and retested it. The "intersection" of horizontal support resistance and dynamic support resistance is a value area. Stop Loss: 22.6 Pips Take Profit: 53.9 Pips RR: 2.38R Entry: 110.387 Take Profit: 109.848 Stop Loss: 110.613 Note: Stop Loss was from Exponential Moving Average Period 10 on April 5 2021 at 08:00 Note: Trade in the direction of the break. My initial bias for USDPY Descending Triangle was a buy. But price never broke and closed above the pattern. So, I didn't enter a long position. When price closed below the pattern, my bias changed to look for sell opportunities. In the chart, see price level 110.387. After price closed below that level, I started looking for sell opportunities.
Short
by TradeLive-
Descending Triangle for CURA?Or, possibly this pattern plays out as a bullish flag. The KST is displaying a bearish cross where I have placed the red downward pointing finger. Keep an eye on the DMI in the upcoming trading days, if there's a bullish cross it would be very note-worthy for the bullish narrative. Something similar to what happened where I've placed the green fingers. The share price is nearing the end of the pattern which doesn't happen too often, this could be due to some indecision among market makers and other participants trading / investing in the stock.
C
by ScotianBot
Has ADA, the crypto darling lost her shine... You tell meLowering volume and a symmetrical triangle inside of a descending triangle and a confluence at a previous price point all indicate something's gonna happen soon. Do you think ADA will keep riding the boring train zigzagging around good old $1.20 or is she about to show us something we can be proud of? I'd wait for a move here and hedge your bets accordingly. Or, just hang around while she slowly trickles to the official position of... don't care. Go long, go shorts, go pants, or a skirt, it's all up to you.
KRAKEN:ADAUSD
by Ifyouonlyknew
4
🌧️ AVAX Possible Breakout To The UpsideAVAX has been in a descending wedge for a while, and recently just broke out on the upside. Ensure that the breakout isn't a false one by finding support on the Fibonacci line before confirming the breakout. If the bullish movement goes all the way back to the all time high, we can expect returns of around 90%. Feel free to take profits at around $45 as well for a safer ~45% profit. Note that this will be a fairly long term hold due to strong sell pressure in the order book from around $40 onwards, with low buying pressure. There are also no noteworthy events coming up for AVAX, although multiple projects are being built on the chain, which could boost its price. For a shorter term hold, consider taking profits at around $36 - $41, which is around a 25-30% profit. Buy: $31 Take profit: $45 - $60 Stop loss: $27 (check ATR) Note: This is merely my opinion and not financial advice. Remember to do your own research.
Long
by RainyTrader