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Symmetrical

When a Symmetrical Triangle Pattern Fails, What to DoDon't mind the audio quality & the background noise I didn't plan this just decided to share. One of the ways I figure out why a pattern fails and while my stop loss hit I fix it and make sure I recover it and even more sometime. Yea I know its not good to have that mentality of "I must recover, I can't take a loss" but as a professional you can fix it right on spot and that is why I'm sharing this for the beginners and even professional that do not know about this. As you can see on the chart the 1st symmetrical pattern was forming so I thought this is it but unfortunately after the so called breakout (which I thought) it didn't succeed I took some loss the when I saw a potential Flag Pattern forming I thought yes, this is my chance, it's happening, I would take a long immediately after breakout but again I was wrong, the 2nd lager Symmetrical Triangle is forming so when I finally figured it out I knew where exactly the next move and I took it. I recovered from the first loss and made extra, cool.
by DewyCandles
IOTA - Potential Bullish Reversal!IOTA is approaching a strong support so we will be looking for buy setups. on DAILY: IOTA is forming a symmetrical triangle in brown but the upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple) Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone) Meanwhile, until the buy is activated, IOTA would be overall bearish can still trade lower till the green support zone where we will be looking for new buy setups to form. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
20
IDEA - Trend-Following Buy Setup!Hello everyone, if you like the idea, do not forget to support with a like and follow. IDEA is sitting around daily support so we will be looking for buy setups on lower timeframes. on H4: IDEA is forming a symmetrical triangle in red but the upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple) Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone) Meanwhile, until the buy is activated, IDEA would be overall bearish can still trade lower till the green support before going up. In this case we will be looking for new buy setups to form. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
11
Huge Symmetrical Triangle on the DailyI haven’t post charts in a while because I was busy. Excuse me to my 18 followers. If we zoom out on the daily we can see a symmetrical triangle forming. As I stated earlier, there is more space for downside. But if we can manage to hold the upper support line we can make a good bounce. If we break to the upside the target is somewhere between 85-100K (depending on where the triangle breaks out). If we break to the downside out of the triangle the technical target would be negative (which in my opinion isn’t very likely to happen). If we follow the same pattern as the previous uptrend it should be something like the yellow arrows are indicating. This is my publication #16. Let me know what you think of it and if you have any questions, suggestions, feedback or other inquiries let me know and do not hestitate to send me a message and to leave a comment! I’m also just a trader.
BITSTAMP:BTCUSDLong
by Awinish
4
SOL - Potential Bullish Reversal!Hello everyone, if you like the idea, do not forget to support with a like and follow. SOL is sitting around strong support in green so we will be looking for buy setups. Before we buy, we want the buyers to prove that they are taking over again. You don't want to buy a bearish market right? on H4: SOL is forming a symmetrical triangle in red but the upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple) Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone) Meanwhile, until the buy is activated, SOL would be overall bearish can still trade lower till the 10.0 before going up. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
BINANCE:SOLUSDLong
by TheSignalyst
43