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Symmetrical Triangle

GOLD → Will we reach 2150 before the news comes out?FX:XAUUSD strengthens to 2141.8, but, having failed to reach a few points to ATH, forms a correction on the background of increasing sell-offs, which leaves this gestalt open for the market. Today-tomorrow there will be quite strong news, all the attention is on Fed head Powell. Interest rates, inflation and other things are likely to be discussed. Based on the general situation in the US, there is a possibility that the dollar will be supported further. This could have a negative impact on gold. Volatility increases on the news. The important zones now are 2150 and 2125. There is a possibility that before the news or because of high volatility there may be a retest of 2150 before further fall, but there is also a possibility after a small correction to break 2125 and fall to 2100-2085. Resistance levels: 2150, 2130, 2142 Support levels: 2125, 2110, 2100, 2088 I expect that the news may negatively affect the market. But before that the price may form a bullish impulse. Trade carefully as the news will be strong TVC:GOLD MCX:GOLD1! COMEX_MINI:MGC1! COMEX:GC1! TVC:DXY Regards R. Linda!
FX:XAUUSDShort
by RLinda
9
Buy USD/CHF Triangle BreakoutThe USD/CHF pair on the M30 timeframe presents a potential buying opportunity due to a recent upward breakout from a triangle pattern. Key Points: Triangle Breakout: The price has been trading within a triangle pattern, characterized by converging trendlines. This pattern can be interpreted as a continuation of the prior trend or a potential reversal depending on the breakout direction. The recent break above the upper trendline signifies a potential bullish breakout. Buy Entry: Consider entering a long position around the current price of 0.8850, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: Initial bullish targets lie at the following levels: 0.8916: This represents the height of the triangle, measured from the apex (highest or lowest point) to the base (opposite trendline), projected upwards from the breakout point. 0.8953: This is achieved by adding the height of the triangle to the breakout point. These targets act as potential resistance zones that could see buying pressure. Stop-Loss: To manage risk, place a stop-loss order below the broken support line of the triangle, ideally around 0.8830. This helps limit potential losses if the price unexpectedly reverses and breaks back downwards. Thank you
Long
by KABHI_TA_TRADING
5
GOLD → Distribution phase. When do we reach 2150?FX:XAUUSD is moving out of range. A distribution is being formed. During the trading week the price strengthens by 2.5%, and the closing of the price on Friday gives us prerequisites for further movement As part of the outlook, gold has quite an interesting path ahead. Interest in the metal is increasing, especially within the framework of the unstable 2023 and early 2024. All of last week was favorable for gold as the US market pulsed with negative economic data. This contributed to the end of the consolidation and the beginning of the distribution. US regulators are not doing a very good job. Inflation is still high, jobless claims are rising, GDP is falling. But what they are confidently doing well is keeping interest rates flat for extended periods of time. lol Prolonged consolidation is getting a denouement. Price is moving out of the triangle upward, breaking the range resistance. And the prerequisite for the resistance breakout was volume growth and consolidation formation near the upper boundary of the range. Since we see the distribution on the background of volume growth, and the closing of the daily candle on Friday indicates that the movement is not over, we can assume that the breakout of 2084 will provoke the continuation of growth to 2090, 2100 and further to 2150 - ATH. Based on the general situation at the moment, we can distinguish two highly probable scenarios. Since the market is bullish, as evidenced by the previously mentioned facts, we can conclude from the current assumptions: resistance breakout, realization phase, distribution, Friday candle closing, growing volume, that we should look for further growth. Scenario 1 : Consolidation between 2087 and 2078 followed by a squeeze to 2087, breakout and rise to 2100 and 2125 Scenario 2 : Correction to 2078, to Fibo 0.236. False breakout, return to the range of 2087 - 2078. Breakout of resistance and growth to ATH Resistance levels: 2082, 2087 Support levels: 2078, 0.236 fibo, 0.382 fibo COMEX_MINI:MGC1! COMEX:GC1! TVC:GOLD TVC:DXY Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
18
Triangle Pattern Trading: A Trap for NewbiesThe triangle pattern is a popular chart pattern that is often used by technical analysts to identify potential breakout opportunities. However, traders should be aware that the triangle pattern can also be a trap for unsuspecting beginners. Why the Triangle Pattern is a Trap One of the reasons why the triangle pattern can be a trap is that it is a very subjective pattern. There are no hard and fast rules for identifying a triangle pattern, and what one trader might identify as a triangle pattern, another trader might not. Another reason why the triangle pattern can be a trap is that it is a very common pattern. This means that there are many opportunities for traders to trade this pattern, which can lead to overtrading. Overtrading is a common problem for beginners, and it can lead to significant losses. Smart Money Traders and the Triangle Pattern Smart money traders are aware of the fact that the triangle pattern can be a trap for beginners. They will often use this pattern to their advantage by creating false breakouts and trapping beginner traders into losing positions. Here are four examples of how smart money traders use the triangle pattern to trap beginners: NEO: formed a bullish triangle pattern. However, the price broke out of the pattern in a fake breakout and then reversed sharply, trapping many beginner traders who were buying the breakout. RVN: Rformed a symmetrical triangle pattern. The price broke out of the pattern in a fake breakout and then reversed sharply, trapping many beginner traders who were buying the breakout. DYDX: formed a descending triangle pattern. The price broke out of the pattern in a fake breakout and then reversed sharply, trapping many beginner traders who were buying the breakout. TRX: formed a bullish triangle pattern. However, the price broke out of the pattern in a fake breakout and then reversed sharply, trapping many beginner traders who were buying the breakout. How to Avoid the Triangle Pattern Trap There are a few things that traders can do to avoid the triangle pattern trap: Be aware of the subjectivity of the pattern. There are no hard and fast rules for identifying a triangle pattern, so traders should be careful not to get too caught up in trying to identify this pattern. Don't overtrade. The triangle pattern is a very common pattern, which means that there are many opportunities to trade this pattern. Traders should be careful not to overtrade this pattern, as this can lead to significant losses. Be aware of smart money traders. Smart money traders will often use the triangle pattern to their advantage by creating false breakouts and trapping beginner traders into losing positions. Traders should be aware of this and be careful not to fall for these traps. Conclusion The triangle pattern can be a useful tool for identifying potential breakout opportunities. However, traders should be aware that this pattern can also be a trap. By understanding the reasons why the triangle pattern can be a trap, and by taking steps to avoid these traps, traders can protect themselves from significant losses.
Education
by Yaroslav_Krasko
4
Sell GBPUSD Triangle BreakoutThe GBP/USD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a triangle pattern. Sell Entry: Consider entering a short position around the current price of 1.2675, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: Initial bearish targets lie at the following levels: 1.2618 and 2.2595. Stop-Loss: To manage risk, place a stop-loss order above the broken resistance line of the triangle, ideally around 1.2720. This helps limit potential losses if the price reverses and breaks back upwards. Thank you.
Short
by KABHI_TA_TRADING
29
Sell EURUSD Triangle BreakoutThe EUR/USD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a triangle pattern. Sell Entry: Consider entering a short position around the current price of 1.0842, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: Initial bearish targets lie at the following levels: 1.0815 and 1.0795. These targets act as potential support zones that could see selling pressure. Stop-Loss: To manage risk, place a stop-loss order above the broken resistance line of the triangle, ideally around 1.0870. This helps limit potential losses if the price reverses and breaks back upwards. Thank you.
Short
by KABHI_TA_TRADING
18
Total 2 heading towards double bottom breakout target. We can see the total2 chart’s price action has already reached the full target of the purple symmetrical triangle breakout. In doing so it also went above the yellow double bottom neckline and now is quickly making its way to hitting that full target as well. That full target is a 988 billion. In the meantime it appears like we may see a weekly golden cross soon. Take a look back at the previous weekly golden cross and you will see that if history repeats a true alt coin season will be melting faces in the near future. *not financial advice*
CRYPTOCAP:TOTAL2
by DrDovetail
Sell EURJPY Triangle BreakoutThe EUR/JPY pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a triangle pattern. Key Points: Triangle Breakout: The price has been trading within a triangle pattern, characterized by converging trendlines. This pattern can be interpreted as a continuation of the prior trend or a potential reversal depending on the breakout direction. The recent break below the lower trendline signifies a potential confirmation of a downtrend continuation. Sell Entry: Consider entering a short position around the current price of 163.08, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: Initial bearish targets lie at the following levels 162.33 and 161.98 Stop-Loss: To manage risk, place a stop-loss order above the broken resistance line of the triangle, ideally around 163.40. This helps limit potential losses if the price reverses and breaks back upwards. Thank you
Short
by KABHI_TA_TRADING
1
PLTR pre-earnings play LONGPLTR has earnings on February 5 while on the 120 minute chart, the price action is that of a rising wedge with price compressing between a rising support trendline and a falling resistance trendline the extension of the neckline of the head and shoulders pattern of November. PLTR fell today and is near and above support. In a long trade, I see the target as 18 ( at the resistance trendline) with a narrow stop loss just under the support trendline. This makes for a possible 6% profit with a very good reward-to-risk ratio. A call option for the 2/16 expiration striking $17 is also under immediate consideration.
PLong
by AwesomeAvani
14
GOLD → Retest of a previously broken level. Panic zone FOREXCOM:XAUUSD is testing local levels in the correction phase and heading towards descending triangle resistance. There are several strong levels crossing in the area of 2035-2037. What to expect from the price? The price is in the correction phase testing the symmetrical triangle resistance as well as the previously broken ascending support line. Technically, gold is in a stalemate situation, as well as in the selling zone. The crossing area of strong levels is at 2035-2040. Most likely, before a possible further fall, the price may test 2035-2040 with a false breakout. But, there is news ahead and we should not forget about their nature of unpredictability. Resistance levels: 2035, 2037, 2040 Support levels: 2030, 2020, 2016 Fundamentally, gold is weaker against the dollar. Technically, we have no trend, only flat. There is news ahead and on the background of the news, I expect that the price may continue to fall after the correction phase. Targets remain the same TVC:GOLD COMEX:GC1! COMEX_MINI:MGC1! TVC:DXY Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
14
Sell GBPUSD at UK RecessionThe GBP/USD pair on the H4 timeframe exhibits a potential selling opportunity due to a recent downward breakout from a symmetrical triangle pattern. This pattern suggests a period of consolidation followed by a potential trend continuation in the breakout direction. Key Points: Triangle Breakout: The price has been confined within a symmetrical triangle, characterized by converging support and resistance lines. This often indicates indecision before a decisive move. However, the recent break below the lower support line at 1.2600 signifies a shift in momentum towards the downside. Sell Entry: Consider entering a short position around the current price of 1.2630, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: Initial bearish targets lie at the support level of 1.2350, marking a previous support zone within the triangle. Further downside targets could be determined using other technical analysis methods like Fibonacci retracements or extensions. Stop-Loss: To manage risk, place a stop-loss order above the broken support line of the triangle, ideally around 1.2750. This helps limit potential losses if the price reverses and breaks back upwards. Thank you
Short
by KABHI_TA_TRADING
18
MACD Crossover - SUNTECK📊 Script: SUNTECK 📊 Sector: Realty 📊 Industry: Construction Key highlights: 💡⚡ 📈 Script is trading at upper band of BB. 📈 MACD is giving crossover . 📈 Double Moving Averages giving crossover. 📈 Right now RSI is around 61. 📈 There is Formation of Symmetrical Triangle breakout soon. 📈 One can go for Swing Trade. ⏱️ C.M.P 📑💰- 483 🟢 Target 🎯🏆 - 532 ⚠️ Stoploss ☠️🚫 - 462 ⚠️ Important: Always maintain your Risk & Reward Ratio. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat 🔁 Happy learning with trading. Cheers!🥂
NSE:SUNTECKLong
by radha_23
2
GTAI is ready! 200% profit in the short-termTechnical analysis GTAI coin is probably ready for an explosive move as the price broke out of the symmetrical triangle on the 4H chart. If you are still hesitating, it may be your last chance to buy GTAI at the current price of 2.23 USDT. The price makes higher lows, which is essential for every bull market. 204% profit in the short term is definitely very likely, but if you hold this coin for the long-term, you can get a 10x or 100x profit in 2024 or 2025. From the Elliott Wave perspective, we have a strong bullish nest (1,2,1,2,1,2), and every Elliott Wave trader can confirm that this is pretty much a dream setup. Once wave 3 starts, it can be huge. Where to take profit in the short term? If you are an intraday trader or a swing trader, you can take profit at the 1.618 FIB extension or 1:1 FIB extension and buy GTAI again at a lower price. If you are a hodler, keep holding. Fundamental analysis GTAI is very popular among retail traders. It has around 352,000 followers on the X platform and a huge fan base. It's always important for every coin to have a lot of users, as the users are what truly matter when it comes to adoption. It's also important for GTAI to get into popular exchanges so people can buy it. GTAI is awaiting several listings on another popular exchanges: $GTAI is utility token which allows: Fee Discounts: Offering discounts on profit and trading fees Vendor Fees for API SDK: Charging fees for API SDK installation, subscription, and transactional operations Web3 Fund Creation and Listing Fees:Implementing fees for creating Web3 funds and listing them in the marketplace Cashback Payouts: Cashback payouts in $GTAPP tokens when using AI shopping assistance Eligibility for DAO Voting: Granting eligibility to participate in DAO votings Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
Long
by Xanrox
19
GTAI - Breakout soon, 125% Profit in a few days!The price of GTAI is inside a symmetrical range and is ready for a breakout to the upside! 130% profit in a few days should be easy if you buy this coin at the current price. We can see that the range is tightening, and usually a huge move is followed after one of the trendline breaks. There is only 1 resistance on the way up, and it's the previous all-time high from January 2024. After we hit a new ATH, the price will be in price discovery mode. It is always important to do an Elliott wave analysis to confirm our bias. In this case, we have a strong bullish Elliott Wave nest (1, 2, 1, 2), which is basically waiting for a breakout. The bullish setup is good from a technical perspective!  Market cap - $12,226,686 - Rank #915 Volume (24h) - $18,926,683 - Rank #218 We can see that the 24-hour volume is very high, despite the fact that the rank is only 915. I would say this can coin 10x in the next few weeks without any issues. There is clearly an elevated interest in this coin. The price is making higher lows, which is a definition of an uptrend from a technical perspective, as we can see on the chart. More about GTAI: AI execution technology enables the execution of any trade, swap, or NFT investment command on centralized exchanges, decentralized exchanges, and NFT platforms simply by sending a text prompt or even a voice message to our AI model. The purpose of this technology is to simplify and make the process of crypto investment and trading accessible for Web 2.0 users while also improving the UI/UX experience for professional Web3 users: AI buy/sell/swap/trade commands execution AI portfolio management AI-powered automated trading A deep AI off-chain and on-chain market analysis AI trading signals AI arbitrage trading AI NFT management AI-powered shopping assistance AI-powered Web3 onboarding and education Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
Long
by Xanrox
12