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Rocketbomb

HOW TO TRADE TRIANGLES🔥Hello, my dear friends!💋 Let's get a little developed👩🏻‍🎓 Today we a talking about 🔺 TRIANGLES 🔺. These figures 🔺 of technical analysis are distinguished by some “deceit”, therefore they are assigned to a separate category.❗ This is due to the fact, that during their formation it's rather difficult to unambiguously determine in which direction the price impulse will follow - up or down.🤷🏻‍♀️ Among such figures, symmetrical, ascending and descending triangles are popular among many traders. Of great importance ❗is the trend preceding the formation of the figure. So,🔥 if the uscending triangle was preceded by a bullish🐃 trend, then the trend will most likely not change its direction.🔥 On the picture above, the blue 💙 lines - indicate the most probable scenario of the price movement after completion of the formation of the Ascending Triangle . In green 💚 - a slightly less likely scenario that shouldn't be ruled out. Thus, in most cases, the “Rising Triangle” is seen by traders as a bullish pattern .🐃 The appearance of this figure usually indicates consolidation before the resumption of the upward movement of prices.❗ 💥Other features of this figure:💥 🔺the upper resistance level passes through two or more local peaks approximately equal in height; 🔺the reliability of the figure increases in proportion to the duration of the previous uptrend; 🔺the lower resistance line consists of at least two consecutive minima, with each subsequent one must be higher than the previous one; 🔺often during the formation of this figure there is a decrease in trading volumes; 🔺the moment of breaking the resistance line should preferably be accompanied by an increase in trading volumes; 🔺after breaking through, the line of resistance of the figure becomes a line of support; 🔺the approximate purpose of further price movement usually corresponds to the width of the triangle formed by the upward movement. 👉🏻The “descending triangle” is often regarded by traders as a bearish🐻 pattern: This pattern is formed on a downtrend 👇🏻, in most cases indicating its continuation. At the same time, as we can see in the figure near, sometimes when you exit this figure, the price moves in the opposite direction. In its features, this figure is similar to the “Ascending Triangle” formed on the bull trend and, in fact, is its mirror image.🤲🏻 The "symmetrical 🤲🏻 triangle" is a relatively neutral figure: However, for example, if the formation of the "Symmetric 🤲🏻Triangle" was preceded by an uptrend, then this pattern will signal a high probability of continued bull dominance in the market. The same for downtrend. 💥Other features of the figure:💥 🔺a triangle is considered reliable and indicates a high probability of the continuation of the trend, if the trend lasted for at least several weeks before its formation; 🔺to build this figure, at least four points are needed - two for the resistance line, two more for support (a more reliable triangle is formed by six points - three for the top line, and three for the bottom); 🔺as the triangle forms and the range narrows, the trading volume should decrease; 🔺the approximate purpose of price movement is usually determined by the width of the triangle. ❗❗❗Traders should be very careful when working with a triangle, especially with a symmetrical one. Each time when forming such a figure, two likely scenarios of price movement should be taken into account at once. Guys, I try very hard for you💓💓, I carefully select the material, I want to express my thoughts as clearly as possible! 💋💋I like to teach, I get pleasure of it😘 !!! 👍🏻Support my enthusiasm with like!😘😘 ✍🏻Write me in the comments if everything is clear to you, maybe you have any questions!🧐 🌞I'm glad of your feedback !!!🌞 Always Yours Rocket Bomb🚀💣
BITSTAMP:BTCUSDEducation
by RocketBomb
9
🔥BITCOIN on hourly & daily charts by Rocket Bomb 🚀💣 Hello, friends. Today is Sunday, a beautiful day, I'm in a great mood. The Cryptocurrency market is active again and I'm happy to share with you my chart and my plans for trading Bitcoin.🔥 One of mine dear student often says "You don't lose until you close Your deal" 😆 That's so funny and so true, because on emotions and panic, we lose most of our money. Be safe and patient!🙏🏻 That's a part of trading! As for bitcoin, from the left side (on the daily chart), we can see, that the price has broken through the symmetric triangle and is confidently moving up. But now we're at a very strong resistance and the price can be corrected in order to break through it. Everybody, who didn't have time to buy is a good time to buy during the correction.🔥 On the right side is an idea for a short-term trade for You) 🧐How are you? Did you manage to conquer the market by leaving the distribution zone ??? Subscribe, if you aren't signed yet, for don't get lost😏 Thanks a lot for your attention!🧡 Always sincerely with You 💋 Your Rocket Bomb🚀💣
BITSTAMP:BTCUSDLong
by RocketBomb
21
Rocket Bomb's plans for trading BTC🚀💣Hello, my dear friends! Hope, You're good💋 Today I wanna share with You my plans for trading BTC🧡🧡🧡 The price continues forming a symmetric triangle. The exit from it can be in any direction. I advise You to act situationally. Usually, when all bears - Bitcoin grows😉😆 Look at my statistic now 😱 The market sentiment has changed!!! We must be prepared for any outcome. What do you think? Stay positive 🙏🏻 Always sincerely with You Your Rocket Bomb 🚀💣
BITSTAMP:BTCUSD
by RocketBomb
41