NZDUSD Symmetrical Triangle Pattern Breakout LongWe expect further upside on this pair, signalled by the symmetrical triangle pattern breakout. We can also see the breakout of a trendline and key level which further supports our directional basis.
Symmetrical_triangle
Symmetrical Illuminati Triangle on UNFI/USDT.P on MEXC exchangeLooks to me like a Symmetrical Triangle here on UNFI/USDT.P on MEXC which these break to the UPSIDE 60% of the time.
Also worth noting that the bands around the Swing Trade Pros DMI (Directional Movement Indicator) I am using here is squeezing. This usually indicates a POP once they BREAK out of these bands.
Worth keeping an eye on if you are trading this coin. However with a lot of uncertainty around BTC lately, perhaps BTC will sink lower bringing this ALTcoin down with it.
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From Thomas Bullkowsi site:
The consolidation pattern of the symmetrical triangle forms as volume recedes. Then, price breaks out downward, but within a few days, price reverses and shoots out the top of the symmetrical triangle, busting the pattern and leading to a strong move upward.
Busted patterns (when the breakout is in one direction only to see price reverse and breakout in the opposite direction) often result in strong moves. However, symmetrical triangles have a tendency to double bust -- the final breakout direction is the same as the original one.
What direction to do you think it will go?
How to Trade Symmetrical TrianglesHow to trade symmetrical triangle patterns with entries and stop levels.
Symmetrical Triangle - Update Posting an update on the SPY here as the markets closed out the week in somewhat of a make-or-break spot. The SPY continued to follow the bearish megaphone that it's been holding for months with its 50-day SMA slipping below its 200-day SMA (Death Cross). However, the SPY is holding a notable rising wedge on the weekly timeframe accompanied by declining bullish momentum as the Heikin Ashi Candles would indicate. The SPY is holding a nice symmetrical triangle on the daily timeframe, with buyers and sellers fighting all week. This comes as the markets head into a big week economically speaking. With the USD sliding and geo-political turmoil rising, the markets are in unchartered territory. Treading lightly here, some RSI-based supply and demand zones to keep an eye on in the interim, bearish and hedged-
--Previous Charts Attached Below--
--Weekly Timeframe--
--Previously Charted--
Bitcoin at Symmetrical Pattern#Bitcoin 15 min. #TA at #Binance
As per #Symmetrical Pattern, and daily candlestick numerical analysis of 412111 last 10 days, today is now breaking point for Bitcoin within next 6-8 hrs.
Either it will be break towards $29k or it will be goes to $26k-27k.. Lets see, what happens today..
Symmetrical Triangle - Sympathy PlayEyeing the entire solar sector here as ENPH heads into earnings tomorrow after retracing back down to the 220 range. Intend to play both, however, SEDG is unique in the sense that there was not the usual retrace back to its respective 200-day MA and has been trading rangebound for quite some time now. Some slight hidden bullish divergence on the RSI, a big symmetrical triangle, a bullish gartley harmonic pattern, and increasing buyer volume relative to seller volume. Bullish and will be looking for a breakout from this triangle (Broader Market Conditions Permitting). Just some support and resistance levels to watch along with some RSI-based supply and demand zones to keep an eye on in the meantime- Price Targets & Previous charts are attached below
PT1- $325.71
PT2- $328.88
PT3- $334.29
PT4- $341.68 +
--Previously Charted--
SQ - Update - Potential ReversalSQ has been holding a downtrend for quite some time now; with buyers stepping in heading into earnings, we could see a nice bullish reversal coming and a breakout of the downtrend. Square's holding a massive falling wedge on the weekly timeframe, accompanied by some bullish hidden divergence on the RSI, Bollinger bands squeezing, and a huge bullish cypher harmonic pattern. Additionally, an inverse head and shoulders has formed on the 4-Hour timeframe (See Attached Charts Below). Similarly, on the daily timeframe, SQ is within a symmetrical triangle with some bullish hidden divergence on the RSI and a bullish Gartley harmonic pattern. Bullish and will be watching closely for a breakout from this wedge and triangle as buyers continue to step in (broader market conditions & earnings permitting)- Just some support and resistance levels along with some RSI-based supply and demand zones to keep an eye on in the meantime. **See Below for Price Targets, Weekly Timeframe, and Previous Charts**
PT1- $73.87
PT2- $78.82
PT3- $81.03
PT4- $86.76+
--Weekly Timeframe--
- Falling Wedge
- Bullish Harmonic Formed on the Daily & Weekly Timeframes
- Bollinger Bands Squeezing
--4-Hour Timeframe--
- Inverse Head and Shoulders
- Bullish Hidden Divergence on the RSI
Symmetrical Triangle - Watching closelyWatching LAC and the lithium sector closely here- LAC is currently holding a massive symmetrical triangle on the daily timeframe while holding an even larger falling wedge on the weekly timeframe (See Attached Charts Below). Additionally, LAC is sitting right on its 100-day SMA, which, is has been acting as a strong support level for quite some time. LAC's EMAs are starting to curl upwards as well (Not Pictured), accompanied with a bullish cypher harmonic pattern on the daily timeframe, and lastly some bullish hidden divergence on the RSI on the weekly timeframe. Bullish and will be looking for a breakout from this triangle (Broader Market Conditions Permitting)- Just some support and resistance levels to keep an eye on along with some RSI-based supply and demand zones in the meantime
-- Price Targets & Previous Charts Attached In Description -
PT1- $27.69
PT2- $28.56
PT3- $29.96
PT4- $31.15
--Weekly Timeframe--
--Previously Charted--
Symmetrical Triangle - Watching closelySEDG has been holding this symmetrical triangle for quite some time now, broader market conditions permitting, will certainly be looking for a breakout to the upside going into earnings and as a sympathy play for ENPH, which has earnings on 7/26'. SEDG has some nice bullish divergence on the RSI as buyer volume increases relative to seller volume. SEDG is flagging on the weekly timeframe (See attached chart below), Bollinger bands are also squeezing on the daily and weekly timeframes in addition to a bullish harmonic pattern forming on the daily timeframe. Bullish and will be looking for a breakout from this triangle (Broader Market Conditions Permitting). Just some support and resistance levels to watch along with some RSI-based supply and demand zones to keep an eye on in the meantime- Price Targets & Previous charts are attached below
--Weekly Timeframe--
--Previously Charted--
PT1- $277.62
PT2- $281.27
PT3- $286.34
PT4- $293.14 + Breakout
ENPH- Triangle Breakout - UpdateThe solar sector has been leading the broader markets for some time now, very much eyeing ENPH along with some others in the sector for a run-up & breakout prior to, and after their earnings. ENPH is holding a big symmetrical triangle on the daily timeframe after closing on Friday sitting on its 20-Day SMA. ENPH additionally has some nice bullish divergence on the RSI on the daily timeframe, as well as holding an ascending triangle on the 4-Hour timeframe after forming a bullish butterfly harmonic pattern (See Attached Chart Below). Bullish and will be looking for a breakout from this triangle (Broader Market Conditions Permitting)- Just some support and resistance levels to watch along with some RSI-based supply and demand zones to keep an eye on in the meantime- See previous charts attached below for previous price targets.
4-Hour Timeframe
--Previously Charted--
PT1- $198.17
PT2- $200.85
PT3- $203.22
PT4- $206.60 +
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.
Symmetrical Triangle - UpdateHD catching my eye here after it bounced off the long-term uptrend it has been holding- Currently sitting right on its 200-day EMA, seemingly looking to reclaim and close above the .786 FIB level, MACD cross on the 4-hour, forming a big symmetrical triangle while also starting to break out of a falling wedge on the hourly timeframe. Additionally, HD formed a massive bullish shark harmonic pattern- Personally am bullish and will be looking for a breakout here (Broader Market Conditions Permitting) Just some FIB levels & RSI-based supply and demand zones to keep an eye on in the meantime - Previous charts are attached below
- Bullish Shark Harmonic Pattern
- MACD Golden Cross on the 4-Hour Timeframe (Not Pictured)
- Breaking out of a falling wedge on the hourly timeframe (Not Pictured)
- Sitting on the 200-day EMA as well as the .786 FIB level
- RSI starting to get out of oversold territory with buyer volume picking up
PT1- $360.68
PT2- $361.17
PT3- $362.12
PT4- $354.20
--Previously Charted--
Symmetrical Triangle - UpdateKeeping a close eye on DIS here as it's still holding a big symmetrical triangle with a big gap to fill on the upside after selling off after earnings. MACD cross and some slight hidden bullish divergence on the RSI on the 4-Hour timeframe (Not Pictured). With buyer volume should really pop- Will be looking for a breakout from this triangle (Broader Markets Permitting) - Just some support and resistance levels to keep an eye on in the meantime along with some RSI-based supply and demand zones - Bullish and looking for a breakout
- Symmetrical Triangle
- Closed Friday Reclaiming & Sitting on the 50-day EMA
- MACD Cross on the 4-Hour Timeframe (Not Pictured)
- Slight Hidden Bullish Divergence on the RSI on the 4-Hour Timeframe (Not Pictured)
- Big Gap Fill on the Upside
- Buyer Volume Picking back Up
PT1- $158.76
PT2- $161.83
PT3- $163.67
PT4- $172.55 & Gap Filled
-- Previously Charted --
Falling Wedge- Bullish - UpdateTAN along with the solar sector starting to catch my eye here- Holding a big symmetrical triangle with a falling wedge at the end (See Attached Chart Below). Undoubtably a longer-term play, however, solar's price action tends to be quite cyclical so will certainly be looking for a breakout from this triangle and wedge (broader market conditions permitting)- Just some support and resistance levels and some RSI-based supply and demand zones to keep an eye on in the meantime- Bullish
- Symmetrical Triangle
- Bullish Hidden Divergence on the RSI
- Bollinger bands squeezing on the hourly timeframe (See Attached Chart Below)
- MACD Golden Cross & bullish divergence on the RSI on the hourly timeframe (See Attached Chart Below)
- Falling wedge on the daily, 4-hour, and hourly timeframes (See Attached Charts Below)
PT1- $83.93
PT2- $84.87
PT3- $85.17
PT4- $86.15
--Hourly--
--4-Hour--
--Daily--
--Previously Charted--
AAPL- Earnings Play | UpdateFundamental Rationale-
AAPL catching my eye here, by no means is this a short-term play. 9 times out of 10 AAPL is a classic case of "buy the hype, sell the news" when it comes to earnings. Will have a solid run-up to earnings and sell-off after as everything will already be priced in, will be playing AAPL's run-up to earnings with one of the two plays annotated on the chart (See Green Box). On a slightly different note, big symmetrical triangle here on the daily timeframe on AAPL and is sitting right on its 20-day SMA (Not Pictured). Given the markets are all at or near all-time highs and in my opinion, are very overextended. That being said will be expecting a retracement back down to the 50-day EMA. Regardless, bullish and will be looking for a breakout from this triangle- Keep in mind this is a long-term play, just some support and resistance levels to keep an eye on along with some RSI-based supply and demand zones to keep an eye on in the meantime-
** 4-Hour & Previous Charts Attached Below **
Technical Rationale-
- EMA's starting to curl upwards
- 20-day & 50-day SMA golden cross (Not Pictured)
- Falling wedge on the 4-hour timeframe (See Attached Chart)
- Bollinger Bands Squeezing on the Weekly Timeframe
- Slight bullish hidden divergence on the RSI
PT1- $152.28
PT2- $154.50
PT3- $157.30
PT4- $160+ New ATH's
4-Hour
Previously Charted
Symmetrical Triangle - Gap Fill- UpdateCHWY still looking quite nice here- Big symmetrical triangle on the daily timeframe as well as what appears to be an inverse head and shoulders forming. Bullish and will be looking for a breakout from this wedge- Just some support and resistance levels to keep an eye on along with some RSI-based supply and demand zones in the meantime
- Reclaimed the 50-day EMA and seemingly looks like it will reclaim the 100 and 200-day EMA's as well
- Symmetrical Triangle on the Daily Timeframe
- Bollinger Bands Squeezing (Not Pictured)
- Falling Wedge on the Hourly Timeframe (See Attached Chart Below)
- Gap fill on the upside
PT1- $75.89
PT2- $77.94
PT3- $79.38
PT4- $80.53 + Gap Fill
Hourly Timeframe
Previously Charted
Symmetrical Triangle - Gap FillKeeping a close eye on DIS here- Sold off after earnings leaving a big gap to fill on the upside. Holding a big symmetrical triangle on the daily timeframe along with a falling wedge on the 4-hour timeframe. With buyer volume should really pop- Will be looking for a breakout from this triangle (Broader Markets Permitting) - Just some support and resistance levels to keep an eye on in the meantime along with some RSI-based supply and demand zones - Bullish and looking for a breakout
- Symmetrical Triangle
- Falling Wedge on the 4-Hour Timeframe (See Attached Chart Below)
- RSI in oversold territory
- Slight bullish divergence on the RSI
- Big Gap Fill on the Upside
PT1- $158.76
PT2- $161.83
PT3- $163.67
PT4- $172.55 & Gap Filled
4-Hour Timeframe
Previously Charted
Symmetrical Triangle - UpdateARKK catching my eye here, in somewhat of a make or break spot- Will be watching closely for a breakout from this symmetrical triangle, Just some support and resistance levels to watch along with some RSI based supply and demand zones to keep an eye on in the meantime- Bullish and looking for a breakout from this triangle
- Inverse Head and Shoulders Formed (Not Pictured)
- Slight hidden bullish divergence on the RSI
- Bullish Cypher Formed
- Reclaimed the 200-day EMA
- Buyer volume picking up relative to seller volume
- Bollinger Bands Starting to Squeeze (Not Pictured)
PT1- $120.79
PT2- $121.24
PT3- $122.45 + Breakout
Previously Charted
Bullish- Breakout PlayFVRR starting to look really nice here- confirmed double bottom off support, bullish ABCD harmonic formed (Not Pictured), along with a strong close on Friday to reclaim the 50-day SMA. Along with the symmetrical triangle its been holding on the daily timeframe is additionally is holding a massive falling wedge on the weekly timeframe (See Attached Chart Below)- Just some support and resistance levels to watch along with some RSI based supply and demand zones to keep an eye on in the meantime- Bullish and looking for a breakout (Broader Market Conditions Permitting)
- Falling Wedge on the Weekly Timeframe
- Symmetrical Triangle on the Daily Timeframe
- ABCD Harmonic Pattern Formed
- MACD Golden Cross
- EMA's Starting to Curl Upwards (Not Pictured)
- Buyer Volume Picking Up
PT1- $196.98
PT2- $200.73
PT3- $202.22
PT4- $204.47
Weekly Timeframe
Falling Wedge- Bullish - UpdateBeen a while since I've posted an update on ETH, however, frankly looking like it's ready for another leg up after pulling back after forming a bearish ABCD harmonic pattern- Big symmetrical triangle on the hourly timeframe (See Attached Chart Below), as well as a bullish falling wedge on the 4-hour timeframe. Additionally reclaimed the 20-day EMA (Not Pictured) and is currently sitting right on the 50-day EMA. Just some support and resistance levels to watch along with some RSI based supply and demand zones to keep an eye on in the meantime- Bullish and looking for a breakout from this wedge
- Falling Wedge on the 4-Hour Timeframe
- MACD Golden Cross looks imminent
- Symmetrical Triangle on the Hourly Timeframe
- Bollinger Bands Squeezing on the Hourly Timeframe as well
- Buyer Volume Picking up Relative to Seller
Hourly Timeframe
Previously Charted
Bullish Going Into Earnings- UpdateENPH is looking really nice here heading into earnings. All previous price targets were reached and the gap on the upside has been filled. Last quarter ENPH sold off on a slight earnings miss however 9 times out of 10 they will beat on earnings. Would like to see ENPH start to outperform other solar manufacturing companies such SEDG with respect to price action- but will certainly be looking for a gap-up and breakout from this triangle. 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 - Previous charts are attached below - Bullish all the way
- Falling wedge on the weekly timeframe (See Chart Below)
- Flagging on the hourly timeframe (Not Pictured)
- Slight hidden bullish divergence on the RSI
- SMA's converging and beginning to curl upwards
- Symmetrical triangle on the daily timeframe
PT1- $176.03
PT2- $182.30
PT3- $189.36
PT4- $191.48
Weekly Timeframe
Previous Charts-
Symmetrical Triangle - Watching closelyABNB forming a big symmetrical triangle but frankly looking quite bullish, will be looking for a breakout from this triangle (Broader Markets Permitting) - Just some support and resistance levels to keep an eye on along with some RSI-based supply and demand zones
- Sitting right on its 20-day EMA
- Bollinger Bands Squeezing (Not Pictured)
- Slight bullish hidden divergence on the RSI
- MACD cross on the hourly timeframe (See Chart Below)
PT1- $171.21
PT2- $172.46
PT3- $175.67 + Breakout
