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Symmetrical

TRONUSD major move imminentTron/USD pair TRXUSD is primed for an advancement in the next leg of its movement. It has had a major move downwards where it bounced if it's 50 DMA. Since then then, it has moved upwards and it now trading in a symmetrical triangle. This shows buyers and sellers taking profit and entering positions. Furthermore, just like a textbook symmetrical triangle, the trading volume since the triangle formation started has been decreasing. Yet another signal that a major move is imminent. Additionally, the RSI has reached and stabilised at 45, the same level it reached before it went on a consistent move upwards in yet another indication that a move upwards is imminent. It's likely the next move will be a breakout as the bounce upwards from the 50 DMA can be taken as the start of a upwards flag. However, cautionary note is that a symmetrical triangle by nature shows indecision in the market, and due to the major move downwards there is a change that the next imminent move is a breakdown. However, the chart pattern sets up an opportunity for scalping for those with the risk appetite. One option would be to enter at approx 0.044 USD when the price reached the lower boundary of the symmetrical pattern to exit at the top boundary (0.046) with a stop loss at 0.043 for a risk:reward ratio 1:2. Alternatively, a more risk:reward opportunity would be in case the price breaksdown to the 50 DMA again and to enter at 0.040 and exit at 0.043 - the lower part of the symmetrical triangle - with a stop loss at 0.039 for a ratio of 1:3.
BITFINEX:TRXUSDLong
by slip_stream
1
EURCHF Top-Down AnalysisHello everyone, if you like the idea, do not forget to support with a like and follow. on DAILY: EURCHF is sitting around a strong resistance (in blue) and brown trendline so we will be looking for sell setups on lower timeframes. on H4: EURCHF formed a wedge pattern in red so we are waiting for a new swing low to form around our lower red trendline to consider it our trigger swing. Trigger: Waiting for a momentum candle close below the gray area to sell. and until the sell is activated, this one would be overall bullish and can still dive inside the blue zone. As price approaches our lower brown trendline, we will be looking for buy setups. Good luck!
Short
by TheSignalyst
36
AUDUSD Sell Setup!Hello everyone, if you like the idea, do not forget to support with a like and follow. on DAILY: AUDUSD is sitting around a strong resistance/supply so we will be looking for sell setups on lower timeframes. on H1: AUDUSD is forming a symmetrical triangle in red, but it is not valid yet, so we will be waiting for a third swing to form around our lower red trendline to consider it valid and sell on its break downward. Trigger: Waiting for a momentum candle close below the gray area to sell. NB: Until the sell is activated, this one would be overall bullish. Good luck!
Short
by TheSignalyst
XAUUSD / Long / 1300 PipsHello TradingView, from following the price we're able to identify prices we can jump in and get out on. Use the wicks and opens / closes of candles to pinpoint those moves in price. This will give you a very clear understanding. We identified the strong prices. We waited for it to break it. We waited for it to test. Then we entered. A almost 0 drawdown position and a great target to pocket 0.70+% gain. Make sure you're using your own risk and money management strategy properly.
OANDA:XAUUSDLong
by Base32
Could Neo be ready for a bounce?This pattern is almost perfectly symmetrical - it took 40 days to reach the top (140% rise) and now we are on day 79 for almost an 100% retracement (30% away from start of run). There are a mix of signals here: On the positive side we have A bullish divergence with RSI into an oversold position. Stoch & MACD looking ready to reverse A Support (dotted purple line) in perfect inlinement with a FIB level. Lowering volume on a decending trend shows less people selling. On the negative side we have Under all Exponential Moving Averages Been weak the last 39 days I would like to see a reversal price action signal. If it is to bounce here - a target of 0.382 on a reverse Fibs where it is located now would be 30% (0.001715btc)
Long
by System791
3