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Rectangle

Sun Pharma has broken out of a Descending Rectangle pattern RECTANGLE PATTERN - Sun Pharma has just broken out a descending rectangle pattern on the daily chart which had been forming since the beginning of the year SUPPORT-RESISTANCE LINE - After breaking out it has also tested the previous strong resistance trend line twice making it a strong support line now SIMPLE MOVING AVERAGE - It has also shown reversal confirmation from 50D, 100D & 200D SMA on daily chart which further strengthens the conviction of upside move VOLUME - It has also shown higher than average volume surge on the previous day EXIT LEVELS - TP - 1095.15 SL - 964.85 ALL THESE ABOVE POINTS INDICATE THAT SUN PHARMA IS POISED FOR NICE UPWARD MOVE
NSE:SUNPHARMALong
by peace_lover
Ethereum Weekly Key LevelsEthereum started forming a symmetrical triangle on the weekly timeframe. The breakout of this pattern will occur with the weekly candle closing above the $2025 level. At the same time, Ethereum, which fully adapts to the moving averages, especially in the weekly time frame, will make a weekly candle closing above $2025, which will mean that it will break the moving average. The first target after this breakout will be the $2531 resistance. If this resistance is exceeded, the next target will be the $3417 resistance. In this scenario, we will watch the moving averages specifically for pullbacks. (WMA40, WMA120) In a possible breakout, the negative scenario will target the RMA200 level of $1176. This target will only be active at the close of the weekly candle below $1700.
INDEX:ETHUSD
by YavuzAkbay
Bitcoin Road Map🗺️!!!(4-hour time frame⏰)Hi everyone👋 (Reading time less than 3 minutes⏰). Bitcoin has been moving in a Rectangle Pattern for more than 21 days . If we look at the waves inside the Rectangle Pattern in terms of Elliott waves , we will find that Bitcoin has succeeded in completing the Double Three Correction(WXY) , and in the last 7 days, it is forming an Expanding Ending Diagonal . 💡One of the Signs to confirm the end of wave 5 of Expanding Ending Diagonal can be the formation of the Hanging Man Candlestick Pattern . 💡Another Sign to confirm the end of wave 5 inside the Expanding Ending Diagonal can be Fibonacci levels so that wave 5 is often 138.2%-161.82% in size relative to the size of wave 3 . 💡Another sign is the fifth touch of Bitcoin with the resistance line , which shows the importance of this line for Bitcoin. 🔔As a result, I expect Bitcoin to decline to at least the middle of the rectangle pattern or 🟢 support zone($30,480-$30,360) 🟢. ❗️ Note ❗️: If Bitcoin goes above $31,880 , expect Bitcoin will touch at least $33,000 . 📚For a better understanding and educational aspect, I tried to show you the structure of the waves inside the rectangle pattern on the chart. 🌐➕ Positive News ➕🌐: Ripple won in court, creating a wave of hope and happiness in the cryptocurrency community. Europe’s First Bitcoin ETF Set To Begin Trading After 12-Month Wait. Argentina Embraces BTC With Its First Bitcoin Futures Contract . Galaxy Digital CEO Mike Novogratz opines that if the Securities and Exchange Commission (SEC) gives the green light for a spot BTC exchange-traded fund (ETF), it will turn around the fortunes of the largest virtual currency. 🌐➖ Negative News ➖🌐: Bitcoin’s price is following in XRP’s footsteps by rallying close to $32,000, but the price could pull back in the face of this week’s $720 million options expiry. US Government Moves $305,000,000 Worth of Bitcoin (BTC) Seized From Silk Road US industry watchdogs oppose the draft bill on the crypto market structure. ---------------------------------------------------------------------------------------- Bitcoin Analyze ( BTCUSDT), 4-hour time frame⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
83
Mastering the Bearish Flag Pattern in Forex and Gold Trading The bearish flag pattern is a powerful technical analysis tool used by traders to identify potential bearish trends in the foreign exchange (Forex) and gold markets. As a continuation pattern, it is typically formed after a strong downward move, indicating a short-term pause before the price continues its downward trend. 📚How Does the Bearish Flag Pattern Work? The bearish flag pattern is formed when the price experiences a sharp decline (the flagpole) which is then followed by a short period of consolidation (the flag). During the consolidation phase, the price usually trades within a tight range, with lower volume, indicating a temporary balance between buying and selling pressures. The pattern is confirmed when the price breaks below the support level of the flag. This indicates that the selling pressure has now become bullish, and traders can expect a continuation of the downward trend. 📉Trading the Bearish Flag Pattern Traders can take advantage of the bearish flag pattern by entering a short position after the flag pattern has been confirmed. This means that the trader will be selling the asset in question, expecting it to continue its downward trend. To increase the likelihood of success, traders can use other technical indicators, such as moving averages and oscillators, as well as fundamental analysis to identify potential price movements and market trends. Here is the example of a bearish flag pattern that we spotted on Gold. After a sharp bearish move, the market started to consolidate within a horizontal range - flag. Its support breakout was the indicator that the market returns back to a bearish trend. 📈Bullish Flag Pattern The bullish flag pattern is the exact opposite of the bearish flag pattern, indicating a temporary pause in an upward trend. It is formed when the price experiences a sharp upward move followed by a short period of consolidation before continuing its upward trend. Trading the bullish flag pattern is similar to trading the bearish flag pattern, with traders entering a long position after the confirmation of the pattern. Here is the example of a bullish flag. The signal to buy was a bullish breakout of its upper boundary. Behold how quickly the market started to grow then. In conclusion, mastering the bearish flag pattern is a valuable skill in Forex and gold trading, allowing traders to enter short positions with greater confidence and accuracy. By combining technical and fundamental analysis, traders can identify potential trading opportunities and reduce their risks. It is important to note that a similar strategy can be applied for trading the bullish flag pattern, which is equally useful in identifying potential profitable trades in an upward trend. What do you want to learn in the next post?
TVC:GOLDEducation
by UnitedSignals
4
Bitcoin -> Massive Back And ForthHello Traders and Investors , my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Bitcoin 💪 A couple of months ago Bitcoin perfectly retested and already rejected the previous cycle high from 2018 and also the 0.786 fibonacci level so the recent rally was quite expected. Furthermore you can also see that weekly market structure is bullish with Bitcoin creating higher highs and higher lows so there is no reason why Bitcoin should actually reject the previous resistance zone once again towards the downside. Looking at the daily timeframe you can see that Bitcoin is still stuck in between support and resistance so I am now just waiting for a clear breakout towards the upside before I also then favor another bullish continuation setup. Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint 📈 Thank you for watching and I will see you tomorrow! My previous analysis of this asset:
BITSTAMP:BTCUSDLong
by basictradingtv
26
Dollar Weakens After FED AnnouncementsAs of now, the FED interest rate decision has been announced and the FED has kept the interest rate constant. In addition to keeping it steady, Powell still made harsh and hawkish statements. Personally, I have question marks in my mind about how full these explanations are. Because now the job is not just to reduce inflation and most business sectors have started to break. I don't think it can go on like this. If we are talking about interest rates, the only factor we need to look at is the dollar index. The dollar index has technically formed a descending triangle. The level to be seen in a down break will be $ 98.
TVC:DXY
by YavuzAkbay
2
Soy Meal Opportunity Launching Pattern Symmetrical TriangleThis is a 1 year rectangle with an 8 week symmetrical triangle offering potential launching pattern - breakout using 30 day ATR of 5 points (45-50%) would target 500 mark offering the trader 65 points x 100 or $6500 for each future traded. Of note, a prior symmetrical triangle in the pattern also occurred and reached the target. Its very likely the 1 year boundary will remain stable offering a trader profits and opportunities while trading within the boundaries.
CBOT:ZM1!Long
by 1Creekdoc