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Descending Triangle

Sell GBPCHF Bearish ChannelThe GBP/CHF pair on the M30 timeframe exhibits a bearish channel pattern, suggesting a potential selling opportunity in the coming minutes or hours. Let's delve deeper into the details: Key Points: Bearish Channel: The price has been trading within a downward-sloping channel defined by two converging lines: a falling resistance line and a falling support line. This pattern often indicates ongoing selling pressure and the potential for further decline. Sell Entry: Consider entering a short position around the current price of 1.0940, which is close to the channel resistance. This could offer an entry point near a potential reversal point. Target Levels: Initial bearish targets lie at the support levels of 1.0892 and 1.0867, marking previous support zones within the channel. Stop-Loss: To manage risk, place a stop-loss order above the channel resistance line at 1.0965. This helps limit potential losses if the downtrend breaks unexpectedly. Fundamental Updates : UK Bank of England (BoE) meeting minutes: Due for release later today, these minutes could shed light on the central bank's future monetary policy stance. Hawkish signals might boost the Pound, while dovish ones could weaken it. Swiss National Bank (SNB) Chairman Thomas Jordan's speech: Scheduled for tomorrow, February 2nd, any comments about potential interventions or the economic outlook could impact CHF sentiment. Thank you
Short
by KABHI_TA_TRADING
14
Sell EURNZD Bearish ChannelEUR/NZD M30 Bearish Channel: Prepare for Potential Selling Opportunities The EUR/NZD pair on the M30 timeframe presents a potential selling opportunity due to a well-defined bearish channel pattern. This pattern suggests ongoing downward momentum and a higher likelihood of further declines in the coming minutes or hours. Key Points: Bearish Channel: As illustrated in the image below, the price has been trading within a descending channel, characterized by two converging lines: a falling resistance line and a falling support line. This ongoing downtrend signals continued selling pressure. Sell Entry: Consider entering a short position around the current price of 1.7691, which sits close to the channel resistance, potentially offering a favorable entry point near a potential reversal point. Target Levels: Initial bearish targets lie at the support levels of 1.7562 and 1.7487, marking previous support zones within the channel. Stop-Loss: To manage risk, place a stop-loss order above the channel resistance line at 1.7750. This helps limit potential losses if the downtrend breaks unexpectedly. Thank yuou
Short
by KABHI_TA_TRADING
2
Btc Correction still here We're still in the middle of this fall oput from the descending Triangle The Price Target for that Decscending Triangle Landing on the 200 day moving average seems to be to coincidental to not play out. With technical analysis i like to see my indicators and charting patterns play into each other so i feel i'm reading a story and right now btc say's the bulls are exhausted after trucking from 15,000. They're still here, as the fight is strong. We should expect to touch the 200 day moving average line and bounce right back into going to previous all time highs. We've been patient as btc was the same price we're at right now 2 years ago which is a good indication we're about to start having some price action. Hang in there guys the red isn't over yet but when it is we're gonna see some real price movement!
COINBASE:BTCUSDShort
by Tracking_Technicals
SOLUSD Bearish chart patternCOINBASE:SOLUSD 📉 Solana Analysis: Descending Triangle Alert! 🚨💔 Hey Solana traders! 🌐📉 Ready for a deep dive into the charts? Let's unravel the current Solana scenario. 🕵️‍♂️💹 📉 Descending Triangle: 🐻 Brace yourselves – we're in a descending triangle, a bearish chart pattern signaling potential downward pressure. 📉🔻 🧐 Bollinger Band Indicator: Trending below the middle Bollinger Band, a bearish signal that could suggest further downside. 📊📉 🎯 Fibonacci Analysis: Fibonacci doesn't lie! A potential price target of $62 is on the radar, with rejections in the golden pocket indicating a crucial resistance zone. 🎯💰 📉 200-Day EMA: Eyes on the 200-Day Exponential Moving Average (EMA) – a key indicator that could influence the overall trend. 📉📈 🤔 What's Next?: As we navigate these chart patterns, share your thoughts! What's your take on Solana's potential moves? Let's discuss strategies and insights. 💬🚀 Remember, this isn't financial advice – just chart analysis in the crypto jungle. 🌐🔍 Comment below with your Solana predictions and let's trade smart! 🚀📈 #SolanaAnalysis #CryptoCharts
BINANCE:SOLUSDShort
by MasterChef23
2
DOGE can crash by a 64%. Here is whyDoge can crash by a 64%. Why? Because we have a descending triangle on the weekly chart, which is a bearish pattern. Also, how much % profit DOGE made in 2023? 0%. DOGE is going sideways. Do not get me wrong, I believe in future on DOGE, but investors are disappointed compared to other coins. I think we can buy cheap doge in 2024 / 2025. Then to the moon. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades! Dogecoin differs from Bitcoin's proof-of-work protocol in several ways, one of which is by using Scrypt technology. The altcoin has also a block time of 1 minute, and the total supply is uncapped, which means that there is no limit to the number of Dogecoin that can be mined. You can mine Dogecoin either solo, or by joining a mining pool. A Doge miner can mine the digital currency on Windows, Mac or Linux, and with a GPU. As of 2014, you can also mine Litecoin in the same process of mining Dogecoin, as the processes were merged. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades!
Short
by Xanrox
15
CHARTIST TRIANGLES: HOW DOES IT WORK? ANSWER is HERE!ASCENDING TRIANGLE: Identify the levels where the price has often closed and opened (black line). The price is making higher and higher lows. Draw a bullish diagonal. Take Profit is calculated by plotting the lowest increase on the black line (see graph). Report this segment to the BREAK of the black line, but ESPECIALLY to the CLOSING of the candle in its time unit!!! ___________________________________________________ DESCENDING TRIANGLE: Identify the levels where the price has often closed and opened (black line). The price makes higher and lower highs. Draw a bullish diagonal. Take Profit is calculated by plotting the highest drop on the black line (see graph). Report this segment to the BREAK of the black line, but ESPECIALLY to the CLOSING of the candle in its time unit!!! ___________________________________________________ SYMMETRICAL TRIANGLE: The triangle of indecision, just like the RANGE!! The price is tightening, and we don't know in which direction it's going PETER!!?? Draw a bullish and bearish diagonal. Wait for a break in one of the diagonals. The Take Profit is calculated by reporting the highest side of the rectangle which made a PULLBACK (see my old publication on "PULLBACK") and see graph below. Report this segment to the BREAK of one of the diagonals, but ESPECIALLY to the CLOSING of the candle in its time unit!!! STOP Loss below the previous low if you are BUYING. STOP Loss above the previous high if you are SHORT (Seller). ​
Education
by Le-Loup-de-Zurich
KAVAUSDT → A break of resistance will give a 60% increaseBINANCE:KAVAUSDT is overcoming trend resistance, which could give a potential rise of several tens of percent in the mid-term Against the backdrop of rising COINBASE:BTCUSD , which is overcoming the key 4-week resistance KAVA and the altcoin market shows good potential. The only nuance is that KAVA is lagging the market and continues to consolidate. An important nuance that will stimulate strong growth is a break of 1.140 resistance. This level is the upper boundary of the 12-measures consolidation. After breaking this resistance, the market will have a potential target of 1.550 and 1.800. But before that we have another resistance - the upper boundary of the wedge. Consolidation of the price above 0.950 will form the potential to buy and hold the trade up to 1.140. Support levels: 0.950, 0.870, 0.770 Resistance levels: 1.025, 1.140 I expect consolidation of the price above 0.954 and growth to 1.140. Further I will wait for the breakthrough of 1.140 and growth to the specified targets. Regards R. Linda!
Long
by RLinda
3
THETAUSDT - The attempt to change the trend is doomed to successBINANCE:THETAUSDT is forming another resistance retest and in fact it can be considered an attempt to change the bearish trend. The chance of success is quite high as several key patterns are forming. On the high timeframe, the coin finds a clear bottom and the triple touch pattern confirms the area. But the price still has a long way to go for a trend change, as breaking the local downside resistance is still not enough, THETA must overcome the 1.717 area to confirm a definitive trend change. On D1, a descending wedge is forming on the background of the bearish channel, the breakout of which forms a rally to the trend resistance, where a pre-breakout consolidation in the format of an ascending triangle is turning. The strength of this consolidation is enough to break the resistance area and the level of 1.190, which will confirm the breakout and may form an impulse to 1.337 and 1.700. SMAs are forming an interesting signal. Support levels: 0.982 Resistance levels: trend resistance, pattern resistance, 1.190. I expect a breakout of the above zone with the subsequent formation of an upward impulse. Regards R. Linda!
Long
by RLinda
6
LPTUSDT → Breakout of multi-month trend resistance. BINANCE:LPTUSDT is moving into the phase of realizing the accumulated potential. Against the background of stalled BTC, LPT / TetherUS looks confident enough to continue its growth after breaking through resistance. The cryptocurrency market is quite active lately. Overall capitalization, flagship, altcoins are warming up after a prolonged winter. Prices are updating multi-month highs and that is encouraging. LTP is still under bear market pressure and only today the pair is starting to show prerequisites for a possible trend change and realization at 12.00. The price is forming a pre-breakdown consolidation against the trend resistance. After retest and false breakdown the price does not fall, a strong support area is formed and on the background of another retest the resistance is broken. The tandem set-up plays the role of a reversal set-up and clearly indicates the formation of bullish potential. Moving averages are starting to show a possible market reversal. Support levels: 6.9, 5.96, 5.35 Resistance levels: 7,56, 9.31, 12.00 Market consolidation above the previously broken trend resistance and the 7.0 area will form a bullish potential that may activate a market rally towards these targets COINBASE:BTCUSD CRYPTOCAP:TOTAL CRYPTOCAP:TOTAL2 Regards R. Linda!
Long
by RLinda
7
AUDUSD Breakout Opportunity Hi Traders! AUDUSD is in a descending triangle, and there is a possibility of a break below the trendline support. Here are the details: The market is trending down with swings of lower highs and lower lows following the break and close below the 20 EMA. Our idea is to sell rallies, looking for a break below the support trendline and exit at 0.64924. Preferred Direction: Sell Entry Level: 0.65614 Stop Level: 0.65959 Target Level: 0.64924 Technical Indicators: 20 EMA Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX
2
4 Triangle Types You Need to KnowTriangle chart patterns offer valuable insights into market dynamics, symbolizing a clash between buyers and sellers within a contracting price range. These patterns are often classified as continuation or neutral patterns, suggesting that the price is likely to persist in its existing trend after the pattern concludes. 1. Symmetrical Triangle: A symmetrical triangle manifests when the slope of the price's highs and lows converges, creating a triangular structure. This pattern signifies a period of consolidation, with lower highs and higher lows indicating equilibrium between buyers and sellers. As the slopes converge, a breakout becomes imminent, though the breakout direction remains uncertain. To capitalize on a symmetrical triangle , consider placing entry orders above the slope of the lower highs and below the slope of the higher lows, prepared to ride the price in the direction of the breakout. 2. Ascending Triangle: An ascending triangle features a resistance level and a slope of higher lows. Buyers gradually push the price up, testing the resistance level. This pattern often signals an upward breakout as buyers gain strength and attempt to breach the resistance. To trade an ascending triangle , set entry orders above the resistance line and below the slope of the higher lows, anticipating a potential upward breakout. However, remain open to movement in either direction, as the resistance level may prove formidable. 3. Descending Triangle: In contrast to the ascending triangle , a descending triangle comprises lower highs forming the upper line, with a robust support level acting as the lower line. Sellers gain ground against buyers, and in most cases, the support line eventually breaks, leading to a continued downward move. To trade a descending triangle , set entry orders above the upper line (lower highs) and below the support line, prepared for a potential breakout. Note that sometimes, the support line may hold, resulting in a robust upward move. 4. Broadening Triangle: Now, let's delve into the captivating Broadening Triangle , also known as a Megaphone Pattern. This pattern stands out due to its expanding price range, creating a distinctive visual pattern on the chart. The Megaphone Pattern comprises a series of higher highs and lower lows, causing the price range to widen over time. This pattern reflects increasing volatility and uncertainty in the market, with both buyers and sellers actively participating. Trading Triangles demands meticulous analysis and risk management due to their nature and potential for unpredictable price moves. To approach Triangle patterns effectively: 1️⃣ Pay attention to the pattern's boundaries: Identify the upper trendline connecting the highs and the lower trendline connecting the lows. These trendlines define the range of price movement within the pattern. 2️⃣ Watch for breakouts and reversals: Triangles often precede significant price movements. Look for breakouts above the upper trendline or breakdowns below the lower trendline as potential trading opportunities. 3️⃣ Confirm with additional indicators: Combine your analysis with other technical indicators or tools to validate your trading decisions. Consider using indicators like moving averages, oscillators, or volume analysis to confirm the pattern's potential direction. Remember, trading Triangles necessitates careful analysis and risk management. Consider the overall market context, fundamental factors, and other technical signals to make informed trading decisions. While chart patterns provide valuable insights, they cannot guarantee future price movements. Always conduct thorough research, stay updated with market news, and adapt your strategy as market conditions evolve. Wishing you successful trading journeys guided by these patterns! 🚀📈✨ 💬 We would love to hear your thoughts and feedback on the article! Please leave your comments and questions below the article. Your input is valuable to us!
Education
by Vestinda
6
Fossil Group (NASDAQ: FOSL) Forming a Descending Wedge Pattern FOSL has been in a downtrend since June 2021, when it reached a 52-week high of $6.08. The stock has formed a descending wedge pattern, which is a bullish reversal pattern that indicates a possible breakout to the upside. The stock has recently crossed above the resistance line of the wedge, which is a positive sign of a trend change. The stock has also formed a golden cross, which is another bullish signal that occurs when the 50-day moving average crosses above the 200-day moving average. The stock is now trading above both the moving averages, which are acting as support levels.
NASDAQ:FOSLLong
by DEXWireNews
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