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Symmetric_triangle

Symmetric Triangle Appears FET/BTC #FET $FET #FetchAIHere we see our FET 12 hour chart and boy we see quite a pullback ! We're now under 1400 . But if you see those black lines on my chart it does look as if we are forming a symmetric triangle shape . Now a chart pattern like that can break upwards or downwards - and by approximately the same amount as those purple lines show (which is the length of the rise near the start of the pattern . ) I expect a break upwards towards the 2900 / 3000 area since a break down out of this pattern would take us to 200 sats area ! And I definitely don't see that coming ! So I say this breaks Bullish . Again many charts look similar with the pullbacks and the MAs but big pullbacks also mean big rises will come . This has possibly been a shakeout situation but there's always big swings in a Bullrun year and I've been expecting some crazy moves so I'm good ! Now a symmetric triangle pattern shouldn't actually play out to the very tip or end of that black triangle . It should choose a direction and break away before we get to the end of the pattern ( I expect a break upwards . ) Also some people might see this as more of a pennant but I disagree since there is not technically a flagpole here and you can't have a pennant without a flagpole . So I say it's a symmetric triangle . Also you can see that pink and blue band we're in ? That's a regression trend channel . And we've definitely wicked to the bottom pink part of it ( as well as hitting a TD Sequential 9 in red on our daily chart . ) So I really expect a turnaround and I expect it soon . This weekend could be interesting but by next week I think this will be on it's way up again .
Long
by shimmeringpath
5
Triangle Breakout- long play **Update**Just posting a quick update- all previous price targets reached and the gap on the upside has been filled. However, am very bullish on ENPH here. Would like to see ENPH start to outperform the solar installation companies such as RUN NOVA etc. nonetheless, ENPH bounced right off its 200-day SMA, yet again acting as a strong support level. Additionally, interesting to note that where the previous symmetrical triangle on ENPH converged acted as strong support where ENPH took a nice bounce. Some support and resistance levels along with some RSI-Based supply and demand levels to keep an eye on- Bullish and looking for a breakout - See previous charts below as well as charts on ICLN & TAN - 20-day RSI EMA cross - EMAs Curling (not pictured) - MACD is seemingly about to cross PT1- $176.03 PT2- $182.30 PT3- $189.36+ ------ ------ (Previous Charts) ENPH has had a nice run in the past month running up roughly 35% to fill the gap on its yearly chart. Could definitely see some healthy consolidation here or another move upwards. Goldman Sachs raised their price target for ENPH from $187.00 up to $202.00, EMA's curling & holding support nicely- will be looking for an entry for a long play. ------ ENPH has gotten relatively beaten down and taken a much-needed pullback. However, has held up fairly well amidst all of the intraday volatility in the markets; is now is back above its 200day SMA where it has previously found support. Needs to hold above the 200day SMA. Additionally, does look like a fishhook pattern forming, and am looking for ENPH to fill the gap circa 153-167. *(All Price Targets Reached)*
NASDAQ:ENPHLong
by jacobosiason7
2
Symmetrical Triangle - BullishPersonally am quite bullish on the ICLN as well as many of its holdings. Closed on Friday sitting right on its 200-day EMA which it has previously bounced off of many times and is approaching the end of a massive symmetrical triangle. Bollinger bands are squeezing as well (not pictured), undoubtedly a long-term play but will be keeping a close eye on this one. Just some support and resistance levels and some RSI based supply and demand zones to keep an eye on as well- bullish
NASDAQ:ICLNLong
by jacobosiason7
Symmetric Triangle Nearing Apex: Bull & Bear Target (XRPUSD)There is a symmetric triangle nearing its apex on Ripple's XRP/USD chart. There is likely to be a strong breakout in either direction from this apex. If this breakout occurs on heavy volume, we are extremely confident that the ensued trend will continue to strengthen. We consider "heavy volume" to be anything over 5 million contracts within a 2 hour bar. If there is not heavy volume, we will not take a position. If there is a bullish movement on significant volume, we will take a bullish position in the underlying with a profit target of 0.50771. If there is a bearish movement on high volume, there is a bearish target down -10.33% from the apex of the symmetric triangle at at 0.4113. 10.33% is the size of the left side (height) of the triangle. If there is a down movement, it is important to recognize the resistance level held prior that also held as some support on the consolidation level on June 22nd. This area was also consolidation on the June 24th. This level is even more significant because it aligns with the 50% retracement of the Fibonacci levels. This could interfere with the downward movement, so, if we do see a bearish breakout, we would wait to initiate our bearish position until XRP falls below the 0.45395 level. Then, our target would continue to be the 0.4113 level.
BITSTAMP:XRPUSD
by LaurenTrading
1
long term based on past 7 months, triangle, btc 24k-higher time frames and longer time patterns give better insight of what is going on btc market -if look at 1 week btc chart a giant symmetric triangle has been formed in past 7 months and ATH (look at my previous analysis for details) -we simply analysis this giant triangle and we will have better understanding of the way ahead -above chart shows what happens now, in a few days after 7 months we will find out the final output of this pattern, if it holds the current level the pattern is complete and we can expect a target of 24k if successful in coming months as a result of this giant symmetric triangle pattern and calculations, check the chart for details.
BITFINEX:BTCUSDLong
by kaskassa