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Symmetrical Triangle

Avery Dennison Corporation WCA - Symmetrical Triangle Company: Avery Dennison Corporation Ticker: AVY Exchange: NYSE Sector: Industrials Introduction: In our analysis today, we're looking at Avery Dennison Corporation (AVY) on the NYSE, an industrial sector company. The weekly chart displays a potential bullish reversal in the form of a Symmetrical Triangle pattern that has been developing over the past 58 weeks. Symmetrical Triangle Pattern: The Symmetrical Triangle pattern usually indicates indecision. In this scenario, it seems to be acting as a reversal pattern from a previous downward trend Analysis: Avery Dennison's previous trend was downward, demonstrated by the diagonal blue resistance line. However, this trend appears to be interrupted by a consolidation phase shaped like a Symmetrical Triangle, suggesting a potential reversal. This triangle pattern has 2 touchpoints on both the upper and lower boundaries. The 200 EMA is acting as support in this case, and the price is holding above it, indicating a bullish environment. A breakout above the diagonal resistance would signal a potential long setup. Should this breakout occur, we could anticipate a price increase of approximately 29%. Until such a breakout, Avery Dennison remains a candidate for watchlist monitoring. Conclusion: Avery Dennison's weekly chart presents a potential bullish reversal scenario, signaled by the Symmetrical Triangle pattern. This pattern, if confirmed by a breakout above the diagonal resistance, could provide an attractive long trading opportunity. --------------------------------------------------------------------------------------------------------------------- Remember, this analysis should be part of a broader market research and risk management strategy and is not intended as direct trading advice. If you found this analysis beneficial, please consider liking, sharing, and following for more insights. Best of luck with your trading! Best regards, Karim Subhieh Disclaimer: This analysis is not financial advice and is meant for educational purposes only. Always do your own research and consult with a financial advisor before making any investment decisions.
NYSE:AVY
by KarimSubhieh
6
DTE Energy WCA - Symmetrical TriangleCompany: DTE Energy Company Ticker: DTE Exchange: NYSE Sector: Utilities Introduction: In today's analysis, we are examining DTE Energy Company (DTE) on the NYSE, a key player in the utilities sector. The weekly chart reveals a potential bullish reversal in the form of a Symmetrical Triangle pattern that has been forming over the past 42 weeks. Symmetrical Triangle Pattern: The Symmetrical Triangle pattern is typically a sign of indecision - a battle between the bears and the bulls. However, in this instance, it seems to be acting as a reversal pattern after a downward trend. Analysis: The previous trend for DTE Energy was downward, but this seems to have been interrupted by the symmetrical triangle pattern, suggesting a potential reversal. The triangle has 2 points of contact with both the lower and upper diagonal boundaries. The price is currently above the 200 EMA, indicating a bullish environment. Furthermore, we've recently observed a breakout above the upper diagonal boundary, which would support a long entry. The price target following a successful breakout is set at 137.43, representing an estimated increase of 21.63%. However, a minor resistance could be encountered at around the 138 level. Conclusion: DTE Energy's weekly chart presents an encouraging bullish reversal setup. If confirmed by sustained price action above the triangle's upper boundary, this could provide a compelling long trading opportunity. It's important to monitor the potential resistance at 138, as it could affect the continuation of the bullish trend. -------------------------------------------------------------------------------------------------------------------- Please remember, this analysis should form part of your comprehensive market research and risk management strategy, and it is not direct trading advice. If you found this analysis helpful, please consider liking, sharing, and following for more insights. Wishing you successful trading! Best regards, Karim Subhieh Disclaimer: This analysis is not financial advice and is intended for educational purposes only. Always conduct your own research and consult with a financial advisor before making investment decisions.
NYSE:DTELong
by KarimSubhieh
💱GBPJPY - The price is squeezed in a range. Possible decline GBPJPY is forming a symmetrical triangle. The price is testing the resistance and falling (rebound). Another retest may not yield results and the price within the triangle may head towards 179.77 TA on the high timeframe: 1) The trend has stopped and the price is forming a sideways flat pattern 2) False breakout and consolidation below the liquidity area gives a chance to fall to 180.00. TA on the low timeframe: 1) A retest of pattern resistance is forming. Price from the upper line may head down. 2) Price has potential and local target within the pattern - lower area and 180.00 zone 3) But! If the fundamental component changes, the price in the format of the resistance retest can break it and continue the trend aimed at strengthening of the currency pair. Key support📉: 180.75, 179.77 Key resistance📈: 182.17, 182.52
Short
by AndeWave
8
4hr bull pennant on xrpusdI normally don’t put too much faith in 4 hour timeframe chart patterns, however should this 4 hour chart bull pennant hold up the bullish breakout target is around $1.10 . As of now it does look like it’s about to break upward, however being a smaller time frame like the 4hr chart there is still a chance this could be a fakeout and the real chart pattern is much bigger and needs to be charted on a higher timeframe. For now at least this looks good. *not financial advice*
BITSTAMP:XRPUSD
by DrDovetail
💱NZDJPY - Symmetrical triangle in reversal set-upNZDJPY is forming a symmetrical triangle on the background that D1 is in the phase of forming a head and shoulders reversal set-up. TA on the high timeframe: 1) A head and shoulders is forming against support at 87.140 and resistance at 88.56. A strong enough pattern for a market reversal. 2) But! Consolidation is forming, which may send the price to 89.00 TA on the low timeframe: 1) A symmetrical triangle has been forming for the past two weeks. 2) The price cannot approach the support retest, because the liquidity at the bottom does not allow it. 3) The price is heading for the resistance retest. Two scenarios are possible. 4) The price can break through the resistance and form an impulse. Or a false breakout will be formed, consolidation below the resistance will give an entry point Key support: 86.700 Key resistance: 87.888
by AndeWave
11
Bitcoin - Secret pattern no one talks about! (insider info) This secret parallel channel on the LOG scale is very important for your trades because you want to take profits if the price reaches the top of the descending channel! This is a dynamic resistance, so the trendline changes over time, but currently the resistance is around 39K. 39K is a strong level not only because of this channel but also because of the 0.618 FIB retracement of the previous huge downtrend and the POC of the previous market structure (volume profile). This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately! What I expect is for Bitcoin to reach the 39K level and then make a significant correction. This correction should be pretty deep. Because we will be retracing the first Elliott impulse wave, the 0.618 FIB is a classic buy opportunity, and it's around 21k. After we reach 21K, I expect Bitcoin to pump heavily to the 69K all-time high resistance. This is indeed a strong level as well, so this could be the peak of the 3rd Elliott impulse wave. The 5th wave is expected to end around 100k–110k in 2025. This is my gameplan; I don't know what yours is, so let me know in the comment section right now! Set up notifications for my ideas so you will be alerted in your email when I publish new analyses immediately! You may say that 110k is not enough and that Bitcoin should do much more than that. Yeah, I agree with you, but we need to be realistic. Bitcoin is already pretty big and has a large market capitalization. What's more, on the chart, you can see the major parallel channel on the LOG scale that started in 2017, and I don't think the bulls want to make some crazy parabolic move above this channel! Thank you, and for more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
99
ETHUSD → Global ascending triangle. Retest 2020BINANCE:ETHUSDT is forming an interesting situation. For more than a year the price has been trading under the strong resistance of 2020. After a while we begin to realize that this level is the upper boundary of the ascending triangle. This pattern can be interpreted as consolidation of potential by dynamic buyers with the purpose of possible overcoming the resistance and reaching new tops. A symmetrical triangle has been forming for several months as well. The price is in consolidation and on the background of bitcoin correction the price may form a decline to the support of the pattern. MA-200 clearly outlines the ascending support of the bullish triangle, which only strengthens the essence of this formation. In the medium term, the price may either make a false breakdown of the local support line or decline and retest the MA-200 and trend support. The further target is growth with the aim of breaking through 2020 and strengthening to 2450. Support levels: 1875, 1830, 1800 Resistance levels: 1938, 2000, 2020 I expect the correction to continue to the nearest support levels from which a reversal and resistance retest may follow. Regards R. Linda!
Long
by RLinda
6
Goldman Sachs Group WCA - Symmetrical TriangleCompany: Goldman Sachs Group, Inc. Ticker: GS Exchange: NYSE Sector: Financials Introduction: In this analysis, we are examining Goldman Sachs Group, Inc. (GS) on the NYSE, a key player in the financial sector. The weekly chart indicates a potential bullish reversal in the form of a classic Symmetrical Triangle pattern that has been forming over the past 287 days. Symmetrical Triangle Pattern: The Symmetrical Triangle is usually a sign of indecision, in this case, it seems to be acting as a reversal pattern after a downward trend. Analysis: Goldman Sachs' previous trend was downward, represented by the blue resistance line. However, this downward trend seems to have been interrupted by the symmetrical triangle pattern, suggesting a potential reversal. The price is above the 200 EMA, indicating a bullish environment. Currently, it appears that the price may close above the diagonal resistance. Confirmation of this should occur when the candle closes. If it does, a long position could be considered. The price target in the event of a successful breakout would be 453, corresponding to a rise of about 32%. A minor resistance could be encountered at 420. Conclusion: Goldman Sachs' weekly chart presents a promising bullish reversal setup. If confirmed by a breakout above the diagonal resistance, this could offer an attractive long trading opportunity. Please remember, this analysis should form part of your overall market research and risk management strategy, and is not direct trading advice. If you found this analysis helpful, please consider liking, sharing, and following for more insights. Wishing you successful trading! Best regards, Karim Subhieh Disclaimer: This analysis is not financial advice and is intended for educational purposes only. Always conduct your own research and consult with a financial advisor before making investment decisions.
NYSE:GS
by KarimSubhieh
8
Marathon Digital Symmetrical Breakout?Mara reached a new high and fell as expected. It started trading into a wide falling wedge out of a bullish uptrend. I would think other than Bullish if it was knifing down. Found consolidation level at 17-17.60 area after double bottom bounce at 16.50ish and looking for a possible break to the upside out of a bullish symmetrical triangle. With bit coin holding 30,000 level. We could see it retest and/or reclaim $20 soon. Trade Responsible, #TradeTheWave 🏄🏽‍♂️🌊
NASDAQ:MARALong
by FinesseTheWave
XRP - Another 83% - 350% pump is very likely! (must see) Another 83% pump to 1.3244 from the current price in the next few days or weeks is more than likely! Why 1.3244? It is the next strong resistance because we have there the 0.618 Fibonacci retracement from the previous major wave. Also, there is a trendline from 2018 -> 2021, which is dynamic resistance, but it's near the specified FIB level! XRP looks very strong because bulls were able to break a falling wedge pattern and an ascending triangle pattern on the weekly chart! Together with the recent bullish news, the XRP coin surged after a judge delivered a huge win to Ripple in the SEC case. If the bulls are able to break the 1.3244 level, then the next resistance I see is the previous all-time high from 2018, which is at 3.2834. But make sure to sell your XRP here, because it's probably not going to break on the first touch. And a 50% or 70% crash from this level is very possible! The market cap of XRP is $38,028,893,068 compared to ETH $232,527,075,117 and BTC $589,643,779,223. The market cap of XRP is pretty big already, so there is not too much room for some crazy 100x profit. Make sure you understand it if you are a hodler and expecting moon gains. 350% to reach the previous all-time high is definitely possible in the medium term. What do you think about XRP? Let me know in the comment section right now! This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately. XRP pumped from 0.49 to 0.92 and made a 100% profit in a single day. It was rejected by the 0.618 LOG FIB and the middle of the previous triangle from 2021. Now the price is around 0.72, which is a pretty good pullback to buy XRP. Thank you, and for more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
62
AUDNZD I Retrace upward and potential downsideWelcome back! Let me know your thoughts in the comments! ** AUDZD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Short
by BKTradingAcademy
2
EURGBP → The market is getting ready to continue falling FX:EURGBP is forming a counter-trend correction to increase liquidity and accumulate potential for a possible further decline. The trend is bearish and now there are signals that could continue the trend Note the local uptrend channel. This is most likely a correction on the background of a bearish trend. Price can't go down all the time, so the market needs to make these maneuvers. The price broke through the support of the correction, we expect the price consolidation. At the moment, the support of the ascending channel and the level of 0.85412 plays a key role. Consolidation below these areas will form entry points for possible sales. The moving averages have moved towards resistance. Impulse is forming. Support levels: 0.85412 Resistance levels: the earlier broken through channel boundary, MA50, 0.86000, MA200 I expect continuation of falling after the price consolidation under the specified levels. Most likely, the trend will continue. Regards, R.Linda!
Short
by RLinda
15
💱USDCHF - Triangle. Why Should We Expect a Decline USDCHF after the retest of the resistance of the global range forms a symmetrical triangle. A breakout of one of the boundaries will form a distribution TA on the high timeframe: 1) Price in 0.91200 - 0.88600 range 2) Resistance was tested earlier. Within the range, price moves from one boundary to the other 3) In our case liquidity from 0.89000 to 0.8600 has not been tested. TA on a low timeframe: 1) Since the market is most likely aiming to continue its move down to the liquidity area, the priority is to expect a support breakout 2) Price may consolidate in a triangle for a few more days and then test the limits of the pattern for a breakout 3) I expect a breakout of support and a decline to 0.88600. But if the price breaks 0.9000, it will go up to 0.91190 Key support📉: 0.89430 Key resistance📈: 0.9000
Short
by AndeWave
8
BANK NIFTY SYMMETRICAL TRIANGLE - 04/07/2023BANK NIFTY Formed SYMMETRICAL TRIANGLE PATTERN BUY ABOVE - 45250 SL - 45140 TARGETS - 45350,45500,45640 SELL BELOW - 45100 SL - 45220 TARGETS - 44900,44790,44700 Disclaimer - All information on this page is for educational purposes only, we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made. HAPPY TRADING GUYS
NSE:BANKNIFTY
by Jagadheesh_JP
8
BTCUSD → 4 setups that will make the buyer happy BITSTAMP:BTCUSD is showing confidence and chic dynamics in the market. On the global chart, the flagship is forming 4 key set-ups that say it is highly likely that the price will continue to strengthen. Let's break it down! The cup & handle, the bearish wedge, the head and shoulders, as well as the breakout of the strong resistance level 30261 after another retest. This set-up colaboration makes bitcoin fans happy enough :) On the daily chart, the price makes a retest of resistance 30575. After the false breakout on June 21, we did not see a decline. A pre-breakdown consolidation was formed, after which the flagship broke the level and at the moment the price consolidation is formed above this level, which may give us a good bullish signal. In the mid-term, there is a chance that the price will test the channel resistance quite quickly. It is also worth paying attention to the moving averages, which play the role of support, but at the same time the curves show the key boundaries that the price has previously overcome. Support levels: 30575, 30261, 30000 Resistance levels: 32196. 34000, upper limit of the channel I expect from the bulls a strong position above the level of 30000-30575. In the medium term bitcoin gives good signals, which can realize the idea of 34000-38000 Regards to R. Linda!
BITSTAMP:BTCUSDLong
by RLinda
19
GOLD → The bears are quite strong in the market. Falling furtherOANDA:XAUUSD forms another bearish range of 1912-1985. The price is descending in steps in the channel, which indicates a strong dominance of sellers in the market. What do you want to see next? After the false breakdown of the support 1895, the market tries to buyback the fall and it succeeds. The price makes a retest of the resistance 1912. Another false breakdown is formed, but this time it is resistance. On the schedule is clearly seen a bearish trend, which coincides on H1, D1 and W1. The fundamental background is negative. The Fed is discussing a further rate hike, which may strengthen the dollar and weaken gold. The price is again testing the local support at 1902. If the level is broken through, the price will head towards 1895 and then maybe towards 1890. Resistance levels: 1910, 1912 and 1924. Support levels: 1902, 1895 I expect the price will continue falling down against the bearish trend after breaking through 1902 or 1895. Resistance levels are strong enough and will not let the price through. Regards to R.Linda!
OANDA:XAUUSDShort
by RLinda
27