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Triangle

Triangle pattern on CANTABILCANTABIL formed a triangle pattern on weekly chart. Price broke out of its long term resistance today with high volume. Multiple support and resistance were tested prior to breakout. Also note the consolidation just before breakout on daily. That would act as a good support if price retraces. Also that would be a tipping point where the setup could become invalid. Considering you have the stop loss just below that low, you can target the width of the triangle. This is a high risk trade but offers good reward if it goes your way. Entry can be had just above todays high that would give a risk reward ratio of 1:3. Hope you like this idea. If so, please boost this idea or leave a comment below on what you think. Otherwise, happy trading :-).
NSE:CANTABILLong
by digijagan
1
BITCOIN (BTCUSD): Bullish Reversal Confirmed?!Despite BITCOIN being in a short-term bearish trend, there are some positive signs to consider. The pair has broken through a resistance line on a falling expanding wedge pattern on a 4-hour chart and closed above it. Additionally, the price has formed an ascending triangle formation and broken its neckline. These are two important bullish confirmations, suggesting that the market may continue to rise. The targets to watch for are 64,283 and 66,077.
COINBASE:BTCUSDLong
by linofx1
4
BTC - Ascending triangle on the 4hr chart off trendline BTC – for the bullish case to move higher with following evidence 1) Just bounced off 200 EMA - hammer or close enough - not shown on the 4hr here only pic of it in close up. 2) Bounced off BAGL - bottom ascending grind line or trend line for support - multiple touches going back 3) Ascending triangle off the 4 hr chart not perfect but good enough 4) Volume volatility approached limit which signaled a potential turnaround - not shown 5) Blackrock did not sell its BTC out of its ETF fund, it used other Blackrock companies to redistribute during recent selling by other companies during recent sell off 6) Banks and institutions will not buy BTC when its price is along way from the 200 day moving average because when it moves back to touch the 200 Daily EMA they will incur losses. Its much safer for a fund manager to buy when the gap between price and 200 EMA is low. 7) As most of the buying into the BTC ETFs was done by the hedge funds then its maybe now the turn for the banks/institutions to buy into BTC which will be enough to push the price back through the ATH band 70-72k which then triggers a new way of short covering taking BTC to 100k round number. 8) Small triangle now may be the trigger signal to move BTC up. It may not make it all the way to ATH and push through it but its a nice entry point just in case. Better to buy here then chase in later on and if wrong then you have plenty of time to move stop up and get out safely. With the goal not to be shaken out with no risk once stop is moved up. 9) 3 major touches to ATH breaking out if reached again we should be watching closely. 10) Multiple IH&S, the large one targets on BTC takes us up to approx 100k - the triangle may help do the first heavy lifting to trigger the other two
BITSTAMP:BTCUSDLong
by William_Playfair
COTI/USDT READY TO TAKE OFF! ACCUMULATE HERE!!Hey everyone! If you're enjoying this analysis, a thumbs up and follow would be much appreciated! COTI/USDT looks good in the daily chart. According to the chart, it is forming a descending triangle and holding the support of a lower trendline. Accumulate it in the green box. Entry zone:- Buy some at CMP and add more up to $0.082 Targets:- $0.12/$0.146/$0.174/$0.202/$0.238 Invalidation:- Daily close below $0.08 What are your thoughts on COTI's current price action? Share your analysis and questions in the comments below! Thanks!
Long
by CoreCrypto1
1
GBPUSD Sideways Consolidation and Potential Breakout MovesGBPUSD is currently in a sideways consolidation on the 1-hourly chart, presenting a potential for an expansion move or breakout in the coming week. Should the market break out to the upside, there are two potential shorting opportunities to consider. Analysis: - Sideways Consolidation: GBPUSD is in a range-bound phase on the 1-hourly chart. - Potential Breakout: Watch for an expansion move. Shorting Opportunities: Traditional Resistance Level: - Level: 1.2662 Strategy: Look for Magic Candle Confirmation around this resistance level to enter a short position. Bearish Gartley Pattern: - Completion Level: 1.2677 - Strategy: Monitor for the Bearish Gartley pattern completion and confirm with bearish signals to enter a short position. Strategy: - Monitor Breakout: Pay close attention to the price action for a breakout, should the market breakout to the upside, there are 2 resistance level you have to take note. Shorting Levels: - 1.2662: Traditional resistance level. - 1.2677: Bearish Gartley pattern completion. - Confirmation: Ensure to look for confirmation signals (such as bearish candlestick patterns or other technical indicators) before entering a short position. - Risk Management: Use appropriate stop-loss levels to manage risk, and not risking more than 1% of your equity. - Stay alert and be ready to act on these potential setups. What’s your take on GBPUSD? Do you see any other potential setups or insights? Share your thoughts and strategies below!
by RaynLim
KAS below channel with C&H pattern + ascending triangleKAS is booming in popularity on Twitter/X. Proof of work token featuring BlockDAG technology. BLOCKDAG Feature: multiple transactions are added to blockchain in a web-like formation vs BLOCKCHAIN: Single transactions added to the chain in a single line. Cup and Handle Pattern formed and playing out. Turned into an Ascending Triangle. Both of these are large bullish formations. Future Resistances based on Fibonacci Levels: $0.23, $0.30, $0.38 Triangle Invalidation Level: $0.155 Support Levels: $0.14, $0.13, $0.125 Average Volume increasing from last month.
Long
by CryptoMitchX
3
EURUSD → Weak market. The target is 1.06. But, news... FX:EURUSD is forming a consolidation, characteristic of a pre-breakout, against a key support line as the dollar index continues to gain support and hold north. A strong bearish situation is developing on D1. There is no strong buyer in the market that can turn around a weak market under pressure from strong bears. The market is below the MA200-MA50 daily moving averages and is also forming consolidation relative to the support, which with a high degree of probability speaks about the intentions to go lower. On H4 the price is in consolidation, above the local maximum is the area of liquidity, as well as resistance, which can test the market before the subsequent decline. BUT! Today's news. Traders are waiting for PCE inflation data.... Resistance levels: 1.07238, 1.07816 Support levels: 1.0664, 1.0606 Technically and fundamentally, the currency pair is in a neutral-negative outlook. If the fundamental background does not change today, I will still stick to the downward movement to 1.06- 1.055. Regards R. Linda!
Short
by RLinda
7