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Triangle

The chart appears to analyze copper CFDs on a daily timeframeThe copper market is showing bearish tendencies, with price breaking below a critical symmetrical triangle pattern. Here are the key insights: 1.Technical Breakdown: Price recently broke the lower boundary of the triangle, signaling a potential continuation of the downtrend. Strong selling pressure is reflected by increased volume. 2.Support Levels to Watch: Immediate support: $4.00 (psychological level near the 50% Fibonacci level). Key support: $3.85 (61.8% Fibonacci retracement and ascending trendline). 3.RSI and Momentum: RSI still hovers above oversold levels, leaving room for further downside. Moving averages suggest sustained bearish momentum. 4.Risk and Opportunity: Traders should watch for a retest of the triangle's lower boundary (~$4.20) as potential resistance before further declines. Break below $4.00 could open doors for $3.85. 📊 What are your thoughts on copper's next move? Let me know in the comments!
CAPITALCOM:COPPER
by AngshumanSaikia
#XRP - I am not crazy probably before i start remember this is pure speculation! so I missed my entry on the weekly ascending triangle by 1.5% approx this was/is a solid breakout & I wanted to see more data, my 2$ target is still valid now back to the chart in question, I zoomed out on bitstamp & we clearly have resistance coming up, simple question is will it break or reject? if this breaks out then sure my idea is invalid for now but if we do reject then what will be the best setup to add more or add fresh position on retrace???? i am looking at 2 setups at the moment no. 1 is a possible cup & handle that might form on weekly/monthly chart 2nd setup is the ascending triangle now this both setups are BIG IF, IF the resistance rejects If the price comes back to support if that support hold so many if's!!! but IF this works out this will be a trade for retirement or coin you can pass it on to your kids the simple way I am gonna trade this I will use 1% of my trading portfolio like I have used with others like GRT, AKro etc gonna divide them equally for both plan 0.5% -0.5% this is a multiyear trade so don't expect to hit target by next week IF this plan works it will take 2025 for it to breakout & who knows how much longer to hit target whatever it is it's gonna be fun to see how this pans out :D
BITSTAMP:XRPUSDLong
by Bromadic
4
PNB swing trading setupChart Analysis: 1.Descending Trendline: The chart shows a clear descending trendline acting as resistance, with the price making lower highs. This signals a prevailing downtrend, and any break above this line with significant volume could indicate a reversal or trend change. 2.Support Zones: •There is a key support zone near the current price level, as indicated on the chart. This level has held up on previous occasions, making it a potential bounce or breakdown point. •Below the main support, there is another secondary support level which could act as the next stop if the primary support breaks. 3.Resistance Level: The chart highlights a resistance level just above the current price action. If the price approaches this zone, it may encounter selling pressure unless accompanied by strong buying momentum. 4.RSI Indicator: The RSI appears to be in the mid-range, indicating neither overbought nor oversold conditions. This implies a potential for a move in either direction, depending on market sentiment and volume. Swing Trading Strategy: 1.Bearish Setup (Preferred Scenario): •Entry: Enter a short position if the price breaks below the support zone with a convincing candle (strong red candle on high volume). •Stop Loss: Place a stop loss just above the descending trendline or above the breakout point to minimize potential losses in case of a reversal. •Target 1: First target would be the next significant support level as highlighted on the chart. •Target 2: If momentum continues, you can extend the target further down to historical support or key psychological levels. •Trailing Stop: Use a trailing stop once you reach Target 1 to lock in profits if the price moves favorably. 2.Bullish Reversal Setup: •Entry: Consider entering a long position if the price breaks and closes above the descending trendline with strong bullish momentum and high volume. •Stop Loss: Place a stop loss slightly below the breakout candle to mitigate risk of a fake breakout. •Target 1: Aim for the immediate resistance level. •Target 2: If bullish momentum sustains, consider further targets based on historical resistance levels. •Trailing Stop: Implement a trailing stop after reaching Target 1 to protect profits while allowing room for further gains. Risk Management: •Position Sizing: Only risk a small percentage (typically 1-2%) of your total trading capital per trade. •Confirmation Signals: Look for confirmation with volume spikes and candlestick patterns before entering any trades. •Market Conditions: Consider broader market trends and sentiment as they can heavily influence individual stock movements. Additional Tips: •Be cautious of potential fake breakouts, especially around major trendlines or key levels. •Monitor volume; a lack of volume on breakouts or breakdowns can signal weak moves that may reverse quickly. Disclaimer: This information is for educational and informational purposes only and should not be considered as financial advice. Trading and investing involve significant risk of loss and may not be suitable for all investors. Past performance is not indicative of future results. You should do your own research and consult with a licensed financial advisor before making any investment decisions. The author of this content does not accept any liability for any losses or damages arising directly or indirectly from the use of or reliance on the information provided.
NSE:PNB
by tintinhawk
1
Potential Macro Channel on Bitcoin to keep an eye onThis ascending channel on the monthly chart has both pi cycle tops from the last two bull runs as key touches on the top trendline. The bottom trendline has lots of important key touches too. If we break above my other big wall of channels which I have posted in a previous idea, thie top trendline of this channel would be the next price I would be looking for for a potential bull market top. By next month the top trendline of this channel wlll be around 240k. The other wall of channels I have posted in the past has a current top trendline around 120k so it would definitely ahve to find aay to break up from that one first to have a chance to retest the top trendline of this one. Gonna keep a close eye on it. *not financial advice*
BITSTAMP:BTCUSD
by DrDovetail
Textbook Ascending Triangle on the 1 hour!🚀 GME Market Update 🚀 We are excited to announce that GME has now formed a textbook Ascending Triangle on the 1-hour timeframe. We are officially locked and loaded. From the 15-minute chart up to the weekly chart, this setup is exceptionally rare. The anticipated breakout across all timeframes promises to be something remarkable. Here's a detailed breakdown: 15-minute chart: Ascending Triangle 1-hour chart: Ascending Triangle 4-hour chart: Bull Pennant Daily chart: Cup & Handle Weekly chart: Golden Cross Such a comprehensive alignment of bullish patterns is extraordinary. Prepare for a significant movement in GME.
NYSE:GMELong
by impossiblebull
5
15 min Pennant has now transitioned into an Ascending Triangle! Hey everyone! Just wanted to give you an exciting update for those tracking the Bull Pennant on the 15-minute chart. As of today, it looks like the Pennant has transitioned into an absolute textbook Ascending Triangle! Here's the breakdown of what we have across all timeframes as of today, 15-minute chart: Ascending Triangle, 4-hour chart: Bull Pennant, Daily chart: Cup & Handle, Weekly chart: Golden Cross Bullish patterns are lighting up across all timeframes, perfectly aligning with the recent surge in institutional buying. Given all this, I've never been more bullish on GME than I am right now. We are on the brink of making history!
NYSE:GMELong
by impossiblebull
1
Bullish Crude Oil MoveSummary of Analysis: Current Consolidation: Crude oil is consolidating along a resistance level touched multiple times, which might strengthen the case for an eventual breakout. Entry and Target Zones: Initial Long Position: You plan to go long up to approximately $71.10, which serves as an initial target. Breakout Target Range: If momentum carries through this level with a solid breakout past the trendline, the next target would be in the $73-$76 range. Additional Points to Consider: Monitoring Volume: To confirm the breakout strength, high volume on the 4H and 1H frames as price breaches the resistance could be a reliable signal. Risk Management: Given that oil markets are known for volatility, consider setting a tight stop just below the consolidation zone in case the breakout fails. Sweep Potential: If back testing suggests this move might lead to a sweep beyond the $73-$76 range, have contingency levels in mind to lock in profits or reassess if conditions change. This setup looks poised for an interesting opportunity, especially if broader market conditions support a bullish momentum. Good Luck!
NYMEX:CL1!Long
by ImJustus
2
XRP weekly breakout - monster upside ahead?!The XRP weekly chart staged a crazy upward breakout through a longstanding triangle formation. The price exploded above the 200 week moving average, and now we can realistically start thinking about the height of that triangle formation to project price targets. $3.00 looks a likely target using this sort of projection, and is conservatively well below the all time high around $3.8. Technically we now keenly await a golden cross on the weekly as confirmation of a bullish trend. The best thing about betting on a coin like XRP is its deep liquidity. XRP is not nearly as speculative as the GOATs (meme coin) of the world, yet ships with massive upside potential.
BINANCE:XRPUSDLong
by quickshiftinn
5
EURO - Price can leave triangle and rise to $1.0765 levelHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Some time ago price fell to $1.1085 level and some time traded near, after which bounced and rose to $1.1210 points. Then price started to decline in falling channel, where it broke $1.1085 level and fell to support line at once. In channel, EUR declined until to $1.0765 level, which coincided with resistance area and some time traded near. Later, price exited from channel, and entered to triangle, but firstly made a gap and then bounced down. Price broke $1.0765 level and now it trades near resistance line of triangle, so, I think can make correction. After this, Euro will bounce up to $1.0765 resistance level, exiting from a triangle. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
8