Get started

Symmetrical Triangle

GOLD → Candlestick analysis - the market is ready to fall OANDA:XAUUSD quickly enough reaches the specified target of 1914 and forms a bullish rebound after a false breakout. The price forms a range of 1939-1914, within which it can reach local resistance by the end of the session. The daily timeframe hints that the fall will continue. The price exits the local descending range downward, breaking the support (another view is a break of the triangle support), after which a correction is formed - which is a logical component of trading. And the daily candle on Thursday closes at the very low, which suggests that the potential is not yet exhausted. The gold market is bearish right now. Today's publishings are: 8:30 GMT Manifactruting ( FX:GBPUSD GBP) 13:45 GMT Services PMI ( FX:EURUSD USD) Resistance levels: 1925, 1939. Support levels, 1914. The daily candlestick forms a local level - the low of the day. If price breaks this local support, it will head much lower, as there is a void under 1914 on the chart, but within the trading session a rebound could lead to a strengthening to 1925 or to 1939. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
27
GBPAUD → Price continues to strengthen. I expect a breakthroughFX:GBPAUD is showing a chic dynamic based on the reversal pattern. At the moment the price is in a range and most likely the market will have to form a consolidation before breaking through the flat resistance. Earlier the price acquires strong support from the 200-hour moving average. A strong consolidation forms a bullish position, after which we saw a rally to 1.90000 At the moment, I expect a retest of 1.90353 and the formation of a pullback to support in the near future. In the medium term from the trend support or from the level 1.89200 I would expect an active strengthening of the currency pair. Support levels: trend bottom line, level 1.89200, sma200 Resistance levels: 1.90353, 1.91835 The pound continues to get stronger and the resistance of the range will not stop the price. I expect pre-breakout consolidation with a further breakthrough to 1.91835. Regards R.Linda!
Long
by RLinda
16
GOLD → Price is heading for new lows. What to expect from gold?OANDA:XAUUSD is falling. There was a breakout of the support level. At the moment the gold is in the range 1939 - 1914. Regarding this flat, various scenarios are possible. What to expect from the price in the near future? Obviously, the price is aimed at testing the liquidity zone, which is below 1914. Yesterday, before the American session closed, the price tested the previously broken strong level. There was a shakeout relative to 1939. Now, after capturing the liquidity of 1939, the price is headed down. On the H4, the local resistance level of 1928 is formed and the price is consolidating lower. Gold is likely to hit a new low (1914 or 1900) before a bullish pullback. At the moment, the market is bearish. Until the price breaks one of the key resistances, it will not change. But the price is not going to do that yet :) Resistance levels: 1928, 1939, SMA-50 Support levels: 1920, 1914, 1885 I expect the price fall to 1914. A small pullback may follow from this support, which may further lead to a breakout and a decline to 1900. Regards to R. Linda!
OANDA:XAUUSDShort
by RLinda
29
GOLD → Breakthrough 1939. Greetings from the Bears OANDA:XAUUSD breaks support after another retest of the 1939 level. Consolidation is forming and the price is headed down. What can happen and what should we be prepared for? There is a large pool of liquidity below the 1925 area, and if it touches this level, the volumes may surge and the volatility may increase. The price may retest the previously broken 1939 before further declines. But at the moment the fact is that the market is about to fall and there are many reasons for that, all of which are pointed out on the chart. After breaking through the support and consolidation of the price below the level, we got an entry point. The price is expected to fall under the pressure of the bears and the current trend. At 14:00 GMT FED Powell is broadcasting, it is worth looking out for his words. (Expect increased volatility). Resistance levels: 1939, SMA-50. Support levels: 1925, 1914, 1885. As a priority I expect the price decline towards 1900, but based on the situation, from the key support levels or before the news something unpredictable may happen. The priority is to sell. Sincerely R. Linda!
OANDA:XAUUSDShort
by RLinda
25
GOLD → Possible scenarios for the situationOANDA:XAUUSD still looks quite bearish. The bulls continue to hold the 1939 level and then we are reminded of the Market Maker traps. What could happen? We continue to see a strong consolidation, which is formed by dynamic sellers and limit buyers, who put limit orders in the 1939 area (there was a false breakout earlier). There is a huge volume of liquidity, and a breakthrough on one side of the range will form a strong surge of volatility and volume. Below I would like to offer some scenarios, which, in my opinion, are relevant at the moment: Everything depends on how the price behaves near one of the key levels. It could be a rebound, a breakout, or a false breakout, but at the moment I look at gold as an instrument that is getting ready to fall. Support levels: 1947, 1939 Resistance levels: SMA50, range resistance, SMA200 I expect that resistance will affect the price predictably and we will see the price continue to fall to 1939 followed by the possibility of a support breakout. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
29
KLAYUSDT → Buyers are breaking resistance. What to expect next? BINANCE:KLAYUSDT has been forming a downward range for several months. After touching the lower boundary of the wedge, the price forms an active strengthening and breaks the resistance of the range. What to expect from the coin? Above the level of 0.1551, near the wedge resistance, a pre-break consolidation is formed. Today we see the realization of the accumulation and the price breaks the resistance of the figure. This is quite a strong signal that a trend change attempt and a strong momentum may form. BINANCE:BTCUSDT starts to strengthen and pulls some of the cryptocurrency market with it. The entire market has been in a freeze lately amid fundamental circumstances, one of which is the SEC claims against major cryptocurrency exchanges. Support levels: 0.1551, the previously broken wedge boundary Resistance levels: 0.1663, 0.1933 The bulls are trying to take the situation into their own hands, but resistance at 0.1663 separates us from a strong growth. If the buyers will manage to overcome this area, then the market can show active strengthening to 0.2340. Regards R.Linda!
KLong
by RLinda
12
GBPCHF I Brief pullback and more upsideWelcome back! Let me know your thoughts in the comments! ** GBPCHF 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
13
Bitcoin - The biggest bull trap in history! In the past few days, Bitcoin has been pumping, which I was expecting. I share all trades that I make transparently. But this pump is something that we need to be aware of! Clearly, this falling wedge pattern is coming to an end, because it has been a pretty long time. The price of Bitcoin is stuck in this "range". My ideas on it are the following: We are going to see a bullish breakout above the wedge, just right at the 0.618 FIB. All traders usually try to buy this breakout, but they probably don't know that there is a 0.618 FIB retracement just above the breakout level. Which is definitely an opportunity to short Bitcoin, not long! The next scenario I see is that we are going to see another touch on the upper trendline of the wedge, and after that, we are going to go down in a classic way. I do not expect any strong bullish uptrend above 30k at all, and I am not buying Bitcoin, but we can trade it on futures. From the Elliott Wave perspective, this wedge looks like a leading first wave diagonal pattern, which suggests the start of a huge crash. Now we are in wave (2), which is usually pretty strong and steep, so we can end wave (2) pretty soon! I want to short Bitcoin at the 0.618 FIB retracement, if the price comes to this level! Otherwise, I trade altcoins on futures. We have an unfilled CME GAP at 21k, do not forget it. But I think we are going to go even lower, to 15k or 10k. But I think if we really want to start a bull market, we need to fill the GAP before a new all time high! 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. Thank you, and for more ideas, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
162
where to next?Being looking at CTSI for a while and this looks like a symmetrical triangle, which means it could go either way However looks like RSI supports the move upwards so I am gonna wait for a break out then place the trade of course keep in mind after a break out there might be bull traps. if we going long then 0.25 is the first place if it doesn't break upwards and we go back down and it breaks downward then we are looking at 0.11 I will update with what my trade will look like soon
by DN_Trades
Bitcoin is heading to 33k! (REACT FAST) We need to react to the recent price action of Bitcoin and switch from a bearish to a bullish perception, as Bitcoin is refusing to drop further and instead is building a very strong bullish base. A breakout above the bullish base is going to lead to a massive pump to 33k! I was bearish from 30k to 27k, but now I am bullish, and I am already long on several altcoins. I may add a long position on Bitcoin on the breakout of the base or on a pullback at ~26900. As traders, we need to react to price developments and alter our bias to successfully trade! Probably only a few understand this; if you do, congratulations. This should be the last pump because I am still expecting a significant crash to 21k to fill the unfilled CME gap. We are going to fill the gap soon or later, and this will be your opportunity to buy cheap Bitcoin! 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 post trade setups privately. If you shorted Bitcoin at around 30k, as I told you in the previous analysis, now's the time to take profit and potentially open a long position if you stick with Bitcoin. So why is Bitcoin going to hit 32k or 33k? It's the FIB extension (classic + LOG) measured from 15476 -> 31000 -> 25811. This gives us targets 31741 and 33656, and I think these targets are very reasonable because I am not expecting any extended fifth wave on the major scale. From the Elliott Wave perspective, Bitcoin has finished the ABC correction successfully. Wave B was a symmetrical triangle, and we need to be aware of triangles as they occur mainly in waves B and 4. Rarely, triangles also occur in wave 2 of impulse waves. Overall, buying Bitcoin at the current price for the long term is not worth it because, on the major scale, we are in wave 1 (if you are bullish) and wave 2 is going to send Bitcoin to 21k. As I said before, there is a CME gap and a huge untested triangle. I expect tremendous gains for the ARPA coin. You can find it in the related section down below! Thank you, and for more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
195
NetApp WCA - Symmetrical Triangle Company: NetApp Inc. Ticker: NTAP Exchange: NASDAQ Sector: Technology Introduction: Welcome to today's technical analysis. Our focus is on NetApp Inc. (NTAP), a major player in the Technology sector, listed on the NASDAQ. The weekly chart is currently exhibiting a Symmetrical Triangle pattern, suggesting a possible bottom reversal. Symmetrical Triangle Pattern: A Symmetrical Triangle pattern, typically seen during periods of consolidation, can signal a potential reversal or continuation of the current trend. It's characterized by a series of lower highs and higher lows, implying that the market is indecisive. Analysis: Previously, NetApp was in a clear downward trend. However, we've noticed a symmetrical triangle pattern in the consolidation phase, which seems to act as a bottom reversal. This triangle has three touch points on both the lower and upper diagonal boundaries. In a bullish turn of events, the price has broken above the 200 EMA with a weekly candle, which reinforces the significance of the breakout. Consequently, this setup might present an immediate long entry opportunity. The price target, should the breakout hold, is set at $90, indicating a potential upside of approximately 34% from the level of the breakout. Conclusion: NetApp's weekly chart reveals an intriguing setup in the form of a symmetrical triangle breakout, suggesting a potential bottom reversal. This setup could present a profitable long trading opportunity. As always, this analysis should be used as a part of your overall market research and risk management strategy, and not as direct trading advice. If you found this analysis valuable, please consider liking, sharing, and following for more updates. Wishing you profitable trading! Best regards, Karim Subhieh
NASDAQ:NTAPLong
by KarimSubhieh