Get started

Lrcusd

LRCUSDT - Educational review 📚Good day everyone. Today I'll be discussing on symmetrical triangle patterns. How it looks, builds up, and plays out. 1.DEFINITION First of all, what is a symmetrical triangle? A symmetrical triangle is a chart formation where the slope of the price’s highs and the slope of the price’s lows converge together to a point where it looks like a triangle. What’s happening during this formation is that the market is making lower highs and higher lows. This means that neither the buyers nor the sellers are pushing the price far enough to make a clear trend. If this were a battle between the buyers and sellers, then this would be a draw. This is also a type of consolidation. Symmetrical triangles can play out both ways - equilibrium consolidation (buyers = sellers). This mean there's a possibility a breakout ⬆️ and a breakdown ⬇️. 2. ENTRY (TRIGGER ENTRY SIGNAL) In a symmetrical triangle pattern, you're to trade the breakout or breakdown. So your trigger entry is basically when the inclined resistance (for a breakout ⬆️) or inclined support (for a breakdown ⬇️) is broken by the market price. 3. TARGET (TAKE PROFIT) Here, I'll be discussing on your profit target levels in the case of a symmetrical triangle pattern. Basically your take profit levels should be where there's a high concentration of sellers ( sell orders ) or buyers (buy orders). And this is basically your resistance levels (in the case of a breakout) and your support levels (in the case of a breakdown). 4. STOP LOSS AND SETUP INVALIDATION Stop loss and setup invalidation are quite similar terms but different. Stop loss is simply a level where you cut your losses. It's like a breathing space for your trade. Your stop losses shouldn't be too tight ( to avoid being hit by stop loss hunting or market noise). It shouldn't be too far also (to give you a good risk to reward ratio (R:R)). Setup invalidation is your last hope of validation. It's the last point that keeps a trade setup valid. When broken, the setup is invalidated ( no longer useful, you'll need to run another analysis). Setup invalidation in a symmetrical triangle pattern is usually below the previous swing low ( for a breakout ⬆️) or the previous swing high (for a breakdown ⬇️). Note: Your stop loss can be less or equal to your setup invalidation, but not greater. 5. TRADE EXAMPLE I'll be using my analysis on LRCUSDT as example of a symmetrical triangle pattern. Trade entry (long order ⬆️) - price breakout above the symmetrical triangle inclined resistance as expected from my previous analysis. Target (take profits levels 🎯) - horizontal resistance / projected ascending channel resistance. Stop loss - Setup invalidation /2 Setup invalidation - breakdown below the previous swing low. Price brokeout as expected from my previous analysis and went on to double my expectations. That's that for symmetrical triangle pattern. Thank you.
Education
by Chibuike_Odoh
LRC Long Trade 20201112Symbol: LRCUSD, LRCUSDT Indicator: 9 Seasons Rainbow Multi TimeFrames Pattern PRO Timeframes:15M - 2H Blue -> Green I appreciate your like or comment. Welcome to share your idea here. PM the author for a trial of "9 Seasons Rainbow Multi TimeFrames Pattern". DISCLAIMER This is only a personal opinion and does NOT serve as investing NOR trading advice. Please make your own decisions and be responsible for your own investing and trading Activities. Trade closed manually: Closed when the above ribbons turns Yellow or Better the Red.
Long
by go8686
LRC/BTC (Sign of Weakness?)💎Technical Analysis Summary💎 BINANCE: LRCBTC -Looping is trading within a rising wedge on an RSI divergence -This is technically Bearish in terms of chart pattern -It is still unconfirmed until the upward trendline is broken down -I recommend to Sell if a Bearish candle closes below 2k sat -The downside target is the previous Resistance/Support at the 1400s sat -Wait for the confirmation and don't rush into the trade without a plan `````````````````````````````````````````````` Trading Involves High Risk Not Financial Advice Please Exercise Risk Management `````````````````````````````````````````````` If You Like My Daily Published Ideas A little Help By Supporting My Channel Through Leaving A Thumbs Up, Comment & Follow Happy Trading! --> Thank You! :) ``````````````````````````````````````````````
by PolarHusk
7
Loopring (LRC) - September 20 (1W)Hello? Dear traders, nice to meet you. "Like" is a huge force for me. By "following" you can always get new information quickly. Thank you for always supporting me. -------------------------------------------------- ----- As it rises above 0.14871109, it is completely off the floor. In order to create a new wave, you need to make sure you can get the support above 0.14871109. We do not recommend new investments as the uptrend has not yet ended and we do not know where to sideways. If it falls, we need to see if we can get support at 0.19715322. It is expected that the movement to create a new wave will proceed, so we will have to watch it with a margin. -------------------------------------------------- ------------------------------------------- ** Check support, resistance, and abbreviation points. ** Support or resistance is based on the closing price of the 1D chart. ** All explanations are for reference only and do not guarantee profit or loss on investment. Explanation of abbreviations displayed on the chart R: A point or section of resistance that requires a response to preserve profits S-L: Stop-Loss point or section S: A point or segment that can be bought for generating profit as a support point or segment (Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment trading. You must trade from a short-term investment perspective.)
BINANCE:LRCUSD
by readCrypto
8