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Descending Triangle

USDCAD → Retest of volume density and key resistance FX:USDCAD is in the phase of trend change. The price begins to form the boundaries of the descending channel, at the same time, against the background of local strengthening of DXY, the currency pair is forming a correction to the resistance area. On d1 we see a global bearish trend in both TVC:DXY and USDCAD currency pair The price is testing the key resistance area, in this place the market is struggling for further positions. At 13:15 GMT ADP NonFarm EC is published, this news is worth paying attention to. It is possible to increase liquidity before further movement in one direction or another. From the currency pair I expect a false breakdown of the mentioned resistance area with the subsequent continuation of the fall to the trend support. It is also worth noting that the market is experiencing peak volume density. Moving trend lines act as resistance. MA-50 has been tested. Resistance levels: 1.3575, 1.3629 Support levels: 1.3545, 1.3485 I expect that after the next retest and false breakdown the price will continue its direction following the trend. Regards R. Linda!
Short
by RLinda
5
🍰 CAKE: Breaking Down Trend ! In the dynamic world of cryptocurrencies, PancakeSwap's token, CAKE, is displaying promising signs of a trend reversal. Trapped within a descending channel, CAKE is gearing up for a potential shift in momentum. Let's delve into the chart dynamics and explore the key levels that might mark the beginning of a bullish journey. Chart Analysis: CAKE's Descent Channel and the Turning Tide CAKE's recent journey has been characterized by a persistent descending channel, reflecting a bearish trend. However, recent developments suggest a potential reversal, with CAKE eyeing a breakout. Key Observations: Descending Channel Analysis: CAKE has been trading within a well-defined descending channel, signaling a period of consolidation and bearish sentiment. Recent price action indicates a desire for a shift in trend dynamics. Bullish Indications: Emerging bullish signals suggest that CAKE is preparing for a trend reversal. Traders are keenly observing key resistance levels that could validate this anticipated shift. Critical Levels: CAKE's Journey to Breakout Key Resistance at $5-6: CAKE faces a crucial hurdle in the form of a resistance zone between $5 and $6. A successful breach of this level, followed by a retest, could serve as a definitive bullish signal. Potential Scenarios: CAKE's Path to Bullish Terrain Breaking the Barrier: CAKE's ascent hinges on its ability to overcome the resistance zone. A decisive breakout could trigger a cascading effect, attracting bullish momentum. Retesting for Confirmation: Post-breakout, a retest of the breached resistance turned support would add confirmation to the bullish narrative. Traders should closely monitor these price dynamics for strategic entry points. Trading Strategy: Positioning for the Bullish Surge For traders gearing up for CAKE's potential bullish run: Target Key Resistance: Identify entry and exit points around the critical resistance level. Confirmation and Caution: Confirm the breakout with volume analysis and exercise caution in volatile market conditions. Long-Term Vision: Consider the broader market context and long-term trends for comprehensive decision-making. Conclusion: CAKE's Conquest and the $5-6 Frontier As CAKE endeavors to break free from the descending channel, the $5-6 resistance zone emerges as the battleground. Traders and investors alike are poised for potential bullish developments, awaiting confirmation signals for strategic market participation. 🍰 CAKE Analysis | 📈 The Quest for Bullish Reversal | 🎯 $5-6 Resistance Zone ❗See related ideas below❗ What are your insights on CAKE's impending breakout? Share your analyses, predictions, and strategies in the comments, contributing to the collective knowledge of the crypto community. The journey from descent to ascent presents an exciting narrative for the PancakeSwap faithful. 🚀🥞💚
Long
by Yaroslav_Krasko
2
Descending Triangle - EUHere I have EUR/USD on the 1Hr Chart which seems to be outlining what looks to be a Descending Triangle pattern!! We had price test the Falling Resistance TWICE with price showing the Support Zone down below. If this Descending Triangle should stand true I would like to see a THIRD test of the Falling Resistance before price falls back down to the support area and BREAKING BEARISH!! -BUT- There is always the chance EUR beats out USD being so light on News this week that if news is bad for USD, we could see a BULLISH BREAK to this Pattern instead! Fundamentally: EUR -> Economic Forecast (Mon), Economic Sentiment (Tue) and Lagarde Speaking (Fri) USD -> CPI (Tue), PPI & Retail Sales (Wed), Unemployment (Thur) and Building Permits (Fri) **Chart Patterns are known to fail 1/3 of the time so BEWARE OF FALSE BREAKS! -Pattern Prediction- *If price Breaks and Closes above Falling Resistance, pattern INVALIDATED! *If price Breaks and Closes below Support Area, price action will initiate Trade Action Plan!
Short
by Novi_Fibonacci
1
SPX & NQ - Rolling Over??The stock markets are looking extremely weak at the moment and after what turned out to be a "sucker's" rally that lasted about a week from early October, things appear to be heading south quickly again. SPX has broken out of its rising channel that had begun since the start of the bull run from 13 Oct 2022 even closed (slightly) below its 200 Day moving average last Friday. Both the SPX's and NQ's momentums had clearly shifted away from a rising trend to sideways in the past 2 months (forming 2 lower peaks now). The descending triangle pattern in NQ is also potentially bearish with higher odds of breaking to the downside eventually. Any near term rallies are not to be trusted unless we can break above the trendline resistences (red) for a start, not to mention market breath in both indices need to improve significantly. Mostly trading short term or sitting on the sidelines for now. Disclaimer: This is just my own analysis and opinion for discussion and is NOT a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management (ie trailing stop loss and position sizing) is (probably the most) important! Take care and Good Luck!
NASDAQ:NDX
by Juliac
📈 ARB: 2-Day Double Bottom - Descending Triangle 🚨 Attention traders, we've got an exciting chart setup on ARB! A 2-day double bottom pattern is forming, with a descending triangle on the horizon. It's time to craft a trading plan for potential breakouts. Chart Analysis: Pair: ARB Timeframe: 2-Day Key Observations: Double Bottom: The ARB chart shows a clear double bottom pattern, indicating a potential reversal. 📉📈 Descending Triangle: A descending triangle has formed, suggesting a period of consolidation. 📉🔼 Support and Resistance: The recent double bottom acts as a significant support level. We aim for an upside breakout with resistance at the All-Time High (ATH) around $2. 📊🧩 Trading Plan: Entry: Consider entering a long position when the price breaks above the upper boundary of the descending triangle. Ensure this breakout is confirmed with strong volume. 🚀📊 Stop Loss: Set a stop loss just below the support level of the double bottom pattern to manage risk effectively. 🛡️⛔ Take Profit Targets: First Target: Around $2, which is the ATH. This level could act as resistance, so consider taking some profits here. 💰💼 Second Target: Beyond ATH, consider letting a portion of your position run in case of a price discovery phase. 🎯📈 Price Discovery Targets: In a bullish scenario where ARB experiences price discovery, we could see the price surge toward $20. This is a speculative but exciting target, and you may consider trailing your stop loss to protect gains. Risk Management: As with any crypto trade, remember that the market is volatile. Only invest what you can afford to lose and employ proper risk management strategies, including setting stop-loss orders. Disclaimer: This is not financial advice. Always do your research and consider consulting with a financial advisor before making any trading decisions. Keep a close eye on ARB as it approaches the apex of the descending triangle. Potential breakouts could be just around the corner. Happy trading, and may the markets be in your favor! 🚀💹 Note: TradingView posts are for educational and informational purposes only. Always conduct your research and use proper risk management when trading cryptocurrencies. 📚🔍
Long
by STP_MrNodeItAll
TOMOUSDT → a strong coin in a weak marketBINANCE:TOMOUSDT in a weak cryptocurrency market gives us hints of chic bullish potential. But this will happen under a number of conditions The coin is in a range under the resistance at 1.5480 and under the downtrend line marking the direction of the global trend. The coin after a long consolidation and numerous retests breaks this line and begins to move into the phase of realization of the accumulated potential. On the background of weak BINANCE:BTCUSD (and this is important enough) TOMO forms an active bullish growth to the area of 1.5480, which is a panic zone for sellers. If this resistance is broken through, an increase in volumes will be formed that will start to lift the price, in which case we can catch a rise in price. Medium-term target is 1.9700 and 2.4390. Moving averages on D1 act as support. Resistance levels: 1.5480, 1.6640 Support levels: 1.3300, MA-50 and MA-200 In the future, I expect a continuation of the simplified struggle of buyers with the market, which may lead to a breakthrough of the above resistance and further strengthening of the price to important targets CRYPTOCAP:TOTAL3 CRYPTOCAP:TOTAL CRYPTOCAP:TOTAL2 CRYPTOCAP:BTC COINBASE:BTCUSD BINANCE:TOMOUSD a strong coin in a weak market Regards R. Linda!
TLong
by RLinda
17
EURCAD → A symmetrical triangle can be broken through FX:EURCAD is in consolidation of the "symmetrical triangle" format. When one or another line (resistance or support) is broken, an impulse may be formed This pattern, indicated on the chart, does not have a clear further direction, as it is a consolidation and the price breakout of one of the borders of the figure will determine for us the further direction in the short term. Earlier the resistance of the descending channel was broken, most likely, the imbalance, which the market maker seeks to eliminate, is above the zone 1.4663, but before further growth the market should form a consolidation. Support at 1.4369 or 1.424 may be tested before rising. If the price breaks the resistance at 1.446 soon, further movement will become obvious. Moving averages are pointing to a near-term burst of activity. Support levels: 1.4369 Resistance levels: 1.446 In the long term, I expect growth. But, before the growth there may be a local fall and support retest. A breakthrough of 1.446 will be a buy signal. A breakout of 1.4369 will be a sell signal. Regards R. Linda!
Long
by RLinda
10
XTZUSDT → Breaking resistance, entering a new rangeBINANCE:XTZUSDT tried to break the support at 0.708 and let the price go lower, but at some point the market held the area, forming a local bottom. After a false break of support, the price breaks consolidation resistance At the moment the market is testing the possibility of transition from the consolidation phase to the phase of realization of the accumulated potential, which can be accompanied by distributive growth. The price fixing above 0.708 level will confirm the entry into the range (new corridor) and in this case Tezos/TetherUS will open for itself the way to the setup resistance. The 3-4 month accumulation in the coin can give us a pretty good medium-term potential, within which the market can hit targets such as: 0.921 and 1.259. The price is breaking MA-50 and aims to test MA-200. Support levels: 0.708, 0.633 Resistance levels: 0.742, 0.921 In the long term, I expect the bulls to consolidate the market above 0.708 and form a distribution towards 0.921 Regards R. Linda!
Long
by RLinda
10
AAVEUSDT → The stage is set for a breakthrough of resistance BINANCE:AAVEUSDT is forming a retest of the wedge resistance amid the cryptocurrency market strengthening. When breaking through the resistance of 72.4, the market may move to realize the accumulated potential In terms of technical analysis, AAVEUSDT forms a neutral correlation following BINANCE:BTCUSD . The market reacts to all the movements of the flagship, therefore, if the one starts to strengthen, AAVE will grow and vice versa. On the chart, there is a large enough potential for a market reversal. Consolidation is formed within the flat and between the garnets of the wedge. Global growth of the market is separated by resistance 72.4 and 91.3, when the price goes beyond it the active growth will start. This is acceptable in medium-term and long-term frames. Our task at the moment is to follow the specified area and wait for the breakout of resistance. Moving averages indicate the formation of accumulation. Support levels: 64.75, 60.3, 55.2 Resistance levels: 72.4 In the long term I expect a retest of resistance with further growth towards 91.3. Regards R. Linda!
Long
by RLinda
7
Bitcoin - Ready to reach 30k! (watch this trendline) Bitcoin is bullish and is ready to reach 29167 in the next few days or at the start of October. Of course, 30k will follow, but 29k is a strong resistance, and we should see a pullback from it! Watch this yellow trendline, which is a gateway to the ultra-huge bull market. Once it breaks, I expect a massive uptrend, but be aware of a possible retest first. Your stop-loss needs to be safe! So why is the 29167 level of resistance strong? We have the 0.618 Fibonacci retracement of the previous downtrend, and we also have a point of control on the volume profile. What's more, it's the start of the fair value gap. I am definitely expecting a pullback from it! It's always important to do an Elliott Wave analysis because it gives us an outlook on the overall trend and market structure. In the downtrend from 31k to 25k, I see a complex correction—the triple-three pattern WXYXZ. This is a corrective move and shows a lot of weakness. That's why I am bullish! 26k is still a good price for Bitcoin to buy in the long term because I expect 120k in 2025. Why 125? Check out my profile or my previous analyses! It's also important to watch altcoins and how they are doing because it gives us another good indicator for Bitcoin. Of course, altcoins such as ETH, XRP, and DOGE are bullish. This was a quick update on the local price of Bitcoin. This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and privately. Thank you, and for more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
162
PEOPLEUSDT → A break of resistance opens up the new range BINANCE:PEOPLEUSDT forms a local bottom, breaks the resistance of the descending wedge and one of the key levels within the realization of consolidation. A new corridor is opened As BINANCE:BTCUSD tests a local high near 26800, an altcoin reaction is forming. Even though the SEC has postponed the adoption of BTC-ETF indefinitely, the market is getting a small influx of assets. Our attention is drawn to PEOPLE. The price breaks the wedge resistance and continues to form a consolidation in a weak market. Finally, the coin breaks through the key, for now, level of 0.01022. Consolidation of the price above the level will form a bullish potential, which my move into the phase of realization and within the medium-term perspective PEOPLE / TetherUS can reach 0.01433 and 0.0185. Altcoins have been strongly consolidating their energy lately, something may happen soon. Support levels: 0.01022, 0.00846 Resistance levels: 0.01433 I expect the price growth to continue after consolidation above 0.01022 level. Regards R. Linda!
Long
by RLinda
17
NZDUSD → Waiting for the bearish scenario to materialize FX:NZDUSD forms a breakout of the descending channel resistance and forms a symmetrical triangle. Breaking the resistance of the pattern could give a strong impulse, but amid the strengthening of the TVC:DXY there is little chance for that. The dollar continues to strengthen towards 107.5, as I mentioned earlier in my ideas. Against this background, the NZDUSD currency pair could realize the bearish side of the "symmetrical triangle" set-up. In this case, the price may break the support of the pattern (0.5902 level) in the near future and head towards the areas marked below. Globally we have a downtrend and lack of growth attempts. In technical analysis there is a "flag" setup - a figure that portends the continuation of the trend. This is exactly what I am expecting when the support area is broken. It is most likely, based on fundamental and technical factors, that the currency pair will continue its decline. Support levels: 0.5924, 0.5902 Resistance levels: upper boundary of the figure, 0.5990. In the long term, I expect a break of support with a subsequent fall in the trend towards 0.5750. Regards R. Linda!
Short
by RLinda
16
KNCUSDT → Coin shows strength in a weak market BINANCE:KNCUSDT stops its decline in late 2022 at 0.495-0.500, thus forming a bottom. The market holds this area quite confidently. And at some point, on the background of weak BINANCE:BTCUSD , KNC forms a resistance breakout, which could be the first bell On the chart we can compare the behavior of the last few days of BTC and KNC. The second one feels confident and is ready to strengthen further. While BTC has been in a falling phase for the last 7 days, Kyber network / TetherUs is strengthening already by 28%. Altcoins have been receiving more attention from speculators lately as they are livelier and more active. The latest retest of the 0.495 bottom on September 12 leads to the formation of a bullish momentum, within which the price makes an attempt to exit the descending range. After the breakout and correction, consolidation is formed above the resistance. If the bulls can finally keep the price above this line, we will be able not only to observe, but also to participate in the price growth to the targets indicated on the chart. The area above 0.955 is quite loose and price could quickly reach 1.200-1.400, but for this to happen we need to get momentum from the previously broken resistance. Support levels: 0.630, MA200, MA50 Resistance levels: 0.710, 0.834 I expect an active phase from the bulls' side. The first phase is consolidation. After which I will wait for growth to the mentioned areas. Regards R. Linda!
Long
by RLinda
17
EURUSD → The calm before the storm. Breakthrough ↑ or ↓FX:EURUSD continues to form a downtrend. At the moment we see a rebound from resistance and a retest of support at 1.06350, which ends with a slight strengthening of the currency pair EURUSD is waiting for a reaction from the US market, namely we are all watching the dollar index. It forms a retest of the strong resistance at 105.00 and forms a rather strong consolidation. If the price breaks the resistance, a very strong bullish impulse will be formed, which will affect the whole forex market. But there is a small chance that the 105.0 area will not let the price in and a correction will form, in which case EURUSD may break the trend resistance and form a shakeout to 1.0835. In priority, I expect a retest of 1.06350 followed by a breakout and a decline to 1.05000 Support levels: 1.06350 Resistance levels: 1.0685, 1.0765 The currency pair may break the line on the next support retest. We should be ready for the resistance breakout as well. Watch the reaction of TVC:DXY to the mentioned resistance area. Regards R. Linda!
Short
by RLinda
16
GBPUSD → UK bear market set to weaken further FX:GBPUSD enters a new range amid a global reversal pattern, as evidenced by the breakout of a strong liquidity area and the 200-day moving average At this stage it is difficult to talk about the strengthening of the price. The currency pair overcomes the mark of 1.24500-1.24000 and enters a new medium-term range, within which the pound can reach 1.20000. This movement can only be broken by strong fundamentals, such as the FOMC & FED press release today at 18:00 GMT . There is not much chance as the CPI (YoY) GBP showed a 0.1 point decline in the index and 0.3 points decline against expectations. The market is weak. From the technical analysis point of view, a small correction may now follow before a further break of 1.23725 and 1.23000 support and further decline to stronger support areas - these could be 1.22500, 1.22000 and 1.20100 area Resistance levels: 1.2458 Support levels: 1.23725, 1.2309 The market gives us medium-term preconditions for further decline, the fundamental factor of GBP market is now on the side of bears, it is necessary to wait for data from FOMC FX:GBPUSD TVC:DXY TVC:BXY Regards R. Linda!
Short
by RLinda
17
BTC: QUICK UPDATE!!Hello everyone, if you like the idea, do not forget to support it with a like and follow. Welcome to this quick BTC update. As you see in the chart, BTC is forming a descending triangle pattern in the daily time frame which is generally a bearish pattern. Currently, it is hovering inside the triangle. We might see another test of the upper trendline and also might see some deviation above the trendline and after that price starts falling. Once it breaks down the triangle ( FWB:25K support) then we will see a big dump. What do you think about this? Share your views in the comment section. If you like this idea then do support it with your likes and comments. Thanks!
Short
by CoreCrypto1
4
Descending Triangle on EUR/CHF @ D1A descending triangle pattern has formed on the daily chart of the EUR/CHF pair. It can be used for a bearish breakout setup. The triangle's borders are marked with the yellow lines. The cyan line is where my potential entry level will be. It is located at 10% of the pattern's height below the lower border. The green line denotes my take-profit level. It is set to the 100% of the pattern height plotted below the lower border. I will set the stop-loss level to the triangle's highest point (0.96926) - the red price marker. I will ignore bullish breakouts from this trend continuation pattern.
Short
by AndriyMoraru