How To Trade The Symmetrical Triangle (Higher Lows, Lower Highs)Lower Highs are represented by the diagonal trend line. These lower highs are the resistance line.
Higher Lows are represented by the diagonal trend line. These higher lows are the support line.
Breakout Candlestick
Retest Candlestick
How To Trade The Triangle Chart Pattern
First, Look For An Up Trend
Second, Draw Diagonal Support Line and then draw Diagonal Resistance Line. These lines are your levels.
Third, Wait For The Breakout Candle. Enter after the candle closes.
Fourth, Wait For A Candlestick To Retest Diagonal Trend Line. Enter after the retest candlestick closes.
Fifth, Set Target Using Height of Pattern
Lowerhigh
LLs and LHs identified on CHFJPY, chart looks BEARISH.Overall move on the daily seems to be approaching SUPPORT AREA, it's no doubt we are looking at LLs and LHs, price has retested S2 and currently a consolidation happening on S2, a successful break below 123.391 gives a potential SELL OFF. move is 89 Pips.
#FTM Fantom Lower High on DailyFantom (FTM) on the 1D chart shows a lower high. I charted a few trendlines to consider keeping an eye on along with a fib retracement.
What are your thoughts? Comment below, hit the like and follow me. Thank you!
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk #bitcoin #altcoins
Right Now, Yen Pairs Are BearishSee the charts below in how I entered on a retest of the diagonal trend line. In this process, I am trailing my stop loss.
GBPUSD ... CRYSTAL CLEAR Clearly we can see the market is offering a descending pattern , as guided by the resistance trendline and the support trendline .
we can depict the sentiment of lower low and lower highs as offered by the price action .
be keen to check my into details (lower time frame 4hrs on my thread )
S and P (SPX) : lower lows formingLooking to get over bearish momentum since early September. sell lower highs.
NZDCAD LONG IDEAHey guys, This pair previously formed a double top and was bearish till it got to that lower trendline which shows lower highs forming.
I'm bullish on this pair. Incase it breaks that lower trendline, my bias will change.
Happy trading
NZDUSD BEARISH IDEANzdusd seems to be on a bearish move. On the h4 time frame, it failed to break that resistance and it has been forming lower highs. i'm shorting this pair my target being the previous low around the 0.68324 zone
Bearishly Breaking Below The Neckline of A Lower High Double TopADA is Bearishly breaking below some serious support right now and looks as if it could make some major Fibonacci retraces.
The RSI and MACD are also both bearishly diverging.
It may reverse at the 50 percent retrace but if you want to take this trade to the extreme you could try to hold short until it reaches the .786-886 fib zones to take profit.
AUDUSD SHORTAfter moving from consecutive higher highs and higher lowers, we have a lower low and a lower high. The lower high flipped just about the 61.8% fib level, and then we see the formation of a Head and Shoulder pattern, While waiting for price to break and retest the neckline, we also expect it to gross below the 52 period SMA for us to enter into the short.
SPX: We are crashing! Time to panic?Hello traders and investors! Let’s see how the SPX is doing today!
Yes, we have a systemic crash in the US, but we’ve seen worse. This crash seems to be related to US tech stocks and China only, as European markets are still quite resilient, especially FTSE (UK) and DAX (GER), which are leaving huge shadows under today’s candlesticks.
As we discussed in my recent video, the SPX has no reversal signs , and even now, we lack bearish structure. We must see lower highs/lows in the 1h chart before assuming we’ll correct more.
We have a support at the gap (black line, 4,369), and the index is seeking this point, for now. Remember: A crash is just a pullback, and it doesn't mean we are in a bear trend.
However, I agree that the daily chart looks bearish already.
The market might understand today’s movement as a false breakout from the previous top level, and we are heading to the next support at the 21 ema. If the crash is strong enough, we can retest the support around the 4,289 again.
I find it hard to believe we would retest the purple trendline in the daily chart without a stronger bearish structure in the 1h chart. We can hit there, but we must see a clear reversal in smaller time-frames.
Only time will tell if this is just a crash or the beginning of a bearish reversal. If it is a crash, then fine, it’ll be just an opportunity to buy, like it has been since April 2020. If it is the beginning of a reversal, then we must wait for more patterns to confirm our theory.
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Thank you very much!
BTC - Rejected iH&S necklineVolume pushed priced down setting a Lower High as the inverse failed to break. Support at the X-axis wedge Channel .5. A break to a Lower Low on watch.
Eurusd sellThis is the second best time to enter for the sell. We had a second beautiful retest of structure. Everything is indicating there will be momentum downwards. It made a lower high and we are on course to go down. It is overbought in most timelines and we should see it hit support before it moves elsewhere.
Bank Nifty at trendline supportBank nifty is in downtrend but there is really good support of trendline which can lead to good bullish movement in market tomorrow. But we should not go long until the previous lower high is broken.
USDJPY | Perspective for the new week | Follow-upWith an astronomical 500pips run in our direction since my last speculation (see link here below for reference purposes); It appears the character displayed by price action lately has found a safe haven for Supplication @ Y109.500 area thereby welcoming a Selling bias for me in the coming week(s).
At this point in a very Bullish trend, the market is looking as if it is trying to figure out where to go next as the thrust from Pivot III did not have enough momentum to find a new high and considering the sharp rejection of the Y109.500 area during last week trading session; it appears that the Greenback risk a further decline. Can inflation rescue the dollar? Let's see!
Tendency: Downtrend ( Bearish )
Structure: Supply & Demand | Trendline | Reversal pattern
Observation: i. The Bullish run that began late January 2021 which is characterized by series of higher swing highs and higher lows appears to have found a peak @ Y111.000 after what looks like a setup transitioning into a downtrend after hitting a brick @ Y109.500 level.
ii. The present structure has a high tendency of changing to a series of lower highs and lower lows in the coming week(s) as I anticipate a Breakdown of the Bullish trendline in the nearest future.
iii. I will like to call our attention to the Supply zone @ Y109.300/110.000 area; This level was a very strong Sell window before the Breakout on the 30th of Mar 2021 followed by a Breakdown on the 7th of April 2021 and since this day we have witnessed price trading under this level throughout the month of April 2021.
iv. With my Key level holding @ Y108.500, I shall be looking forward to taking advantage of a decline below the key level this week.
v.This been said, there is an opportunity to add a position to your existing trade when price does a further breakdown/retest of Demand level @ Y107.500.
vi. CAUTION: On the contrary; it could be a rally (bullish) continuation when price breaks above Supply zone and retest to find new demand level at this juncture... Trade consciously!:)
Trading plan: SELL confirmation with a minimum potential profit of 300 pips.
Risk/Reward : 1:5
Potential Duration: 10 to 20days
NB: This speculation might be considered to make individual decisions on the lower timeframe.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
BTCUSD Lower Highs and Exponential Moving AverageWatch how price pull backs to the exponential moving averages. If price pulls back and forms a pin bar with a long-tail wick, then enter a short position.
USDSEK Lower Highs On The Daily Chart, Weekly Chart, H4 ChartLower Highs are pushing into trend line support. Wait for confirming price action signal like a pin bar for an entry. Lower Highs are present on the Daily, Weekly Chart, and H4 Chart.
EMA 10 EMA 20 are pointing downwards on the time frames mentioned.
NIO: How much more could it drop? Let's see...Hello traders and investors! Let’s see how NIO is doing today! The stock has been doing very technical movements lately!
• A QUICK MESSAGE: Next Monday, I invite you to join me in our next stream! One hour before the market closes (3 p.m. NY time). Check this link: www.tradingview.com
NIO defeated the Dual-Resistance level we discussed in our last analysis, as expected, and it hit its natural target at $ 42.05, which we have been aiming since the beginning of the month. If you missed my previous analysis, the link is below this post, as usual.
Now, in the 1h chart, NIO did a bearish structure: It lost the 21 ema and it did a lower high/low . On the other hand, it has two important support levels to hold the price, the first one is around the green line at $ 39.34, the second one is around the $ 37.54.
In the daily chart, we see that NIO is at a Dual-Support zone , made not only by the green line, but by the 21 ema as well. If any bullish candlestick appears in a place like this, it is a crystal clear buy sign.
I didn’t put it in the chart, because it would be too much, but if you trace a Fibonacci Retracement in the last bullish leg, the 38.2% retracement is quite close to the green line as well, making it an even stronger support level. In addition, the 61.8% retracement coincides with the red line in the 1h chart, making it a good candidate for a reversal too.
What’s more, NIO is dropping, but the volume is quite low during this bearish movement, indicating that this is still not a real sell-off . Given how we have several powerful support levels, and how the volume is looking right now, I see drops as opportunities to buy.
If you liked this analysis, remember to follow me to keep in touch with my daily studies, and please, support this idea if it helped!
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.
PLTR: The Unbreakable Bear Trend?Hello traders and investors! Well, PLTR hit our target we discussed last week! And now it is trading slightly below it. If you missed my last public analysis on PLTR, the link to it is below this post. Let’s see how to proceed.
In the 1h chart we have a very strong bear trend, but PLTR is doing something new today. For the first time since it hit the green line at $ 27.45 it has been doing lower highs/lows , a typical trait of a bear trend. But today, it seems it is reacting near the support level at the black line at $ 21.07, breaking the lower highs/lows pattern.
This is not official, but if PLTR holds it there, and if it breaks the dual resistance area made by the purple trend line and the 21 ema, we could see a reversal ahead. What’s more, this could be a Double Bottom pattern in the 1h chart if it defeats the blue line at $ 23.03.
Now, let’s see the daily chart:
In theory, PLTR could drop a little bit more, to the red line at $ 20.18, but since it is doing some bullish reaction in the 1h chart, then that’s fine. Also, PLTR is sleeping, as in the past month the volume has been quite low. At some point, it’ll wake up, we just don’t know when.
It is a little too soon to say this, but if PLTR defeats the $ 27.41 the bear trend would be officially over, and this is a natural target for PLTR if it triggers the patterns mentioned in the 1h chart. But now it is too soon to trade it, as PLTR is a very dangerous stock and it is in a very delicate situation.
Let’s keep PLTR in our radar and wait for a good reaction. If you liked this idea, remember to follow me to keep updated about my daily studies, and please, support this idea if it helped you!
Thank you very much!
SNDL: Heading to the $ 3.96? Maybe, with 1 condition...Hello traders and investors! Again, SNDL hit the target we mentioned in our last study. Let’s see how it’ll behave now.
First, SNDL did a false breakout from the $ 1.64, and it hit our target on the same day of our last analysis, at the $ 1.47, which was a nice target to aim for, for several reasons. The link to my last public analysis is below, as usual.
Then, SNDL bounced back up to the $ 1.64 again, and it dropped. This reinforces the idea that the $ 1.64 is the most important point to keep in mind . And it is not by chance that it is the strongest resistance, and you’ll understand why when we analyze the daily chart.
But for now, keep in mind that SNDL is doing lower highs/lows, a trait of a short-term bear trend, and it seems it is heading to the $ 1.25. The earnings report did bring some volatility, but nothing as most people expected. Usually, new traders believe that the price will crash when the earnings are supposed to be bad. These people simply don't know how to apply game theory in their strategy.
Now, to the daily chart:
The $ 1.64 is the strongest resistance because it worked as a previous top in the past, and above it, there are no other meaningful resistance levels until the $ 3.96. This is why the $ 1.64 has such an important psychological meaning for SNDL.
In addition, the $ 1.64 now is a neckline, of a possible Inverted Head & Shoulders chart pattern (green area). This reinforces the idea that if SNDL defeats the $ 1.64, we’ll see it at $ 3.96, as this is the technical target for the IH&S.
The only thing we need to watch right now is if we’ll see any good candlestick/chart pattern around the $ 1.25 in the 1h chart, as this could trigger a reversal in the daily chart.
Every week I do one public analysis on SNDL, and if you want to keep in touch with my insights, remember to follow me ! And if this idea helped you, please, support it!
Thank you very much!
