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Triangle

GOLD → Bulls hold the defense. Retest of resistance...FX:XAUUSD is strengthening from 2370 and testing the resistance of the actual local trend. Dollar in range ahead of news... Traders are waiting for Wednesday and the FOMC conference, where they may discuss atcual situation on inflation and monetary policy, as well as Fed Interest Rate Decision, where most likely the interest rate will remain at the same level, but may make a good hint on a soon decline.... Gold on D1 is consolidating above the support line, which generally determines the future prospects for us. Locally, the bulls hold the defense above 2370, forming further growth, within which they break the resistance of the local triangle, but the price is held back by the global descending channel. It is not excluded that the price may test 2377-2370 before further growth, but at the moment the focus is on the nearest resistance zone. Support levels: 2377, 2370 Resistance levels: 2391, 2400 Fundamentally, everything is quite positive for gold. Technically, the price is in consolidation, as traders are not ready to take serious actions early. But, all the attention is on the resistance, if the bulls manage to break 2390 and consolidate above, we will have a good chance to continue the growth. Rate, share your opinion and questions, let's discuss what's going on with ★GOLD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
16
XRP 7 year descending triangle ending?As is known, XRPUSD has been trading within a range since its ATH. Zooming out to the 6 week chart it seems that the triangle based on the highs is now - potentially - ending, or at least doing so this year. The close of the triangle based on closing/opening prices likely after the next halving. Orange line - base. Red line - closing/opening prices. Blue line - highs. That's 59 6 week bars or over 2400 days... now closing? I have no idea how high a price rises after breaking out from a ~7 year triangle.
CRYPTO:XRPUSDLong
by WheretheStreets_HaveNoName
Shot Calling no1I've been away quite some time,. working on strategy and just growing accounts. This is to serve as a trade record for forex. I also trade futures, but that is too fast for here. Current Active Trade: Current setup is I have a short from 1.08023, entered yesterday post NFP. Thinking the extension is a clean breakout from the triangle pattern over the last week to take price long overall, but first we need to retrace. Target: 1.074 for the short and then head for a long entry (Limit Price Set) Looking for price to come back and then react long from 1.074 & continue making upwards pushes. Account size: $1500 (EUR, Reset for the month back to...) Current Entry Sizes 0.07 Lot Risk: Rule of thumb 0.01 per $250, Previous balance before reset was 1848.53/250 = 0.07, keeping size currently in play. Red lines mark sells: The additional red lines above the entry are for protection. There is no stop loss on any position, ever. These are additional sells at the same size as the original entry. Should this entry not work, price will either head up and catch the next level up at 1.086 (Trading view moved my lines back after I already set them, not going to fight it not saving 😤 they're close enough) and add short another 0.07, or it will miss the second entry, come back to target & we just have drawdown, boo hoo. Should it fail completely, the third entry will get taken at 1.0976 for short. How this is "Protection": Math, in simple terms. It's a manipulation of breakeven on position. If the second entry gets triggered, the breakeven point is between the two entries. If the third short is also hit, then the breakeven is where the second entry is placed. These are exit points later should things go wrong. The major breakout and peaks are "insurance" where we will 99% for sure get a reaction to the downside, it's just natural resistance behavior. Same goes for the next trade, same idea with the blue lines already planned, should this succeed we go to no2, fail we make a different no2 idea. Trading at or very near to the yellow lines (clear and obvious levels) & using educated guessing for reasoning (technical analysis or just a simple "seen this before" approach) Keeping it really simple. Method of Madness: Support: buy Resistance: sell Add in if wrong at the next level Hedge: Not forgotten, but avoid use if at all possible (Trap situation that hurts more than helps) Only act on levels, near levels, or extreme event points (breakouts/peak points)
Short
by ForexStoryteller
5
Frankly, I don't feel like explaining, the chart says it all !!TONUSDT is in an ascending triangle which means the price is about to do a good bullish movement. The price can increase as much as the measured price movement ( AB=CD ) . The break out needed for increasing further has not happened but it should happen pretty soon. ✨Traders, if you liked this idea or have your opinion on it, write in the comments, We will be glad. _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⚠️Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Long
by CobraVanguard
STORJ / USDT → Wedge breakout with trend change target BINANCE:STORJUSDT shows positive dynamics to the change of trend and the beginning of bullrun. The coin is moving to the phase of implementation of a pattern that can change the direction of the market. Bitcoin sets the general trend of the cryptvault market. The general fundamental background, which is formed around BTC and ETH sets positive prospects for other altcoins, which can still surprise us. Technically, STORJ is coming out of consolidation and is essentially entering the distribution phase. A false break of the key resistance is formed, which can be broken after the next retest. High probability of a small correction before a subsequent attempt to break through this zone and enter a new range of 0.500 - 0.900. Resistance levels: 0.4882, 0.6034 Support levels: 0.5 Fibo, 0.3530 The task of the bulls is to keep the defense above the key support, if it succeeds, the next target will be the breakout of resistance and bullrun. Regards R. Linda!
Long
by RLinda
1
GOLD → Retest resistance before a breakout. What's next?FX:XAUUSD has been strengthening since the opening of the session and is testing the 2400 zone. The market is getting bullish again, but at the same time it is at a strong resistance. The focus is on 2393.0. There is no news today and the overall situation is stable. Gold has no obvious reasons for a possible strong fall. Markets are waiting for the confirmation of the progression of US deflation with the subsequent hints on the soon reduction of interest rates. The fact itself is favorable for gold. Technically, the focus is on the edge of the range 2393. Consolidation of the price above this area may well influence further growth, but it is necessary to follow the descending resistance, because it will be difficult to pass this area from the first time. Resistance levels: 2400, 2430 Support levels: 2393, 2384, 2377 Technically and fundamentally everything is quite positive. We should expect a retest of resistance with subsequent growth, but it is not excluded that before the active recovery phase there may be a retest of support, for example: 2387, 2382 or 2377 Rate, share your opinion and questions, let's discuss what's going on with ★GOLD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
16
ETHEREUM → False breakdown of MA-200 could lead to a BULLRUN ↑ BINANCE:ETHUSD in the correction phase, testing zones of interest (0.5 fibo and MA-200), forming a false breakdown, which in general can lead to a strong upward movement supported by strong fundamentals. Fundamentally, ETH is quite positive. ETH-ETFs were launched on July 23 and continue to gain momentum. The correction, which has been observed for the last two days is mainly due to the outflow from GrayScale (exactly the same scenario was with BTC), also a slight pressure is created by the situation with Mt.Gox, but against the background of BTC transfers to exchanges and their distribution among its debtors, bitcoin is strengthening, such behavior of the flagship indicates support for eth. Technically, the price is forming a correction to 0.5 fibo relative to the bullish momentum as well as a retest of the Daily MA-200, forming a false breakdown with a fairly aggressive buyback, indicating the presence of a strong buyer who is not ready to go down beyond $3000. Resistance levels: 3357, 3540 Support levels: 3200, MA-200 The main task of the bulls is to keep the defense above the zone of interest at $3200. Further it remains to wait for resistance retest with the purpose of its breakthrough and further bull run to $4000 - $4500 - $4900. Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:ETHUSD Regards R. Linda!
Long
by RLinda
15
BITCOIN → Intend to test 74K but what's next? ↑BINANCE:BTCUSD is strengthening by 25% from the intermediate bottom and after retesting the support of the classic “FLAG” pattern. The fundamental and technical background is positive enough to consider further price growth July 9 Idea: BITCOIN → Fear in the crowd is a bullish sign ↑ Flag and SFP Fundamental Situation: the market is waiting for the launch of ETH-ETF on July 23, which could be another positive lever for the cryptocurrency market. Trump, who has recently become a strong supporter of cryptocurrencies, is increasing his chances of re-election. If he wins, the market will take it very positively. Well, and other local nuances: High-ranking politicians in the U.S. are reconsidering their views on bitcoin. SEC is also smoothly changing its position towards cryptocurrencies. Technically, a classic bullish FLAG pattern is forming on d1. The nature of the range is consolidation. At the moment there is a high probability of retest of strong resistance 71700 or ATH retest, but only after the retest of these zones it will be possible to follow the formation of prerequisites for the breakout of global resistance 73800. Resistance levels: 67250, 71750 Support levels: 63800, 59300 Technically, the price is now in the channel 67250 - 63800. The situation is favorable for resistance breakout, which will open a new way to the nearest resistance. Now we can't say about possible ATH renewal. It is necessary to keep watching how the price will approach the key boundaries of the range. In the mid-term I consider a breakout of 67250 with further growth to 71700-73800. Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:BTCUSD ;) Regards R. Linda!
BITSTAMP:BTCUSDLong
by RLinda
43
XRP → The moment before “to the moon” ↑BINANCE:XRPUSDT is the strongest of the market. As ETH & BTC fall, ripple is holding quite positively as traders are starting to believe in growth amid rumors... Ripple CEO recently said that he expects a legal resolution to the situation between the SEC and Ripple “very soon” Many are speculating that the SEC's closed-door meeting to finalize the case against Ripple could take place today - July 25. Against this backdrop: Trading volumes are rising, price is hitting local highs, whales are accumulating XRP Technically, it is worth paying attention to the 0.6378 - 0.5712 range. If breaking the resistance fails, the price may test liquidity below the support before subsequent growth. Resistance levels: 0.6378, 0.7440 Support levels: 0.5712, 0.5100 If the trial finds its denouement, it will give a second life to the coin. A break of the range resistance - 0.6378 will open a new path.... Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:XRPUSDT ;) Regards R. Linda!
Long
by RLinda
25
AVGOPrice is consolidating in the form of symmetrical triangle for the past 2 days after a good trend line break out. 150 will be the trend deciding zone. Higher time frame shows rounding bottom is forming. Lower time frame pattern is neutral. Buy above 155.5 with the stop loss of 154 for the targets 157, 159 and 161. Sell below 152.5 with the stop loss of 154 for the targets 151, 149 and 147. Hit the like button to Rock !! Show some energy !! Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. You are responsible for whatever you do.
NASDAQ:AVGO
by vanathi
2
Gold - Asc Tri and Fibs working together to give exact targetsBullish Gold. It was very obvious that Gold was going up to the Fib and Asc Triangle targets earlier this year. It was not beyond the wit of man to see this move and trade it. Now that you can see Asc tringles happen all the time and that projecting fibs from the prior move top to bottom can be used for Gold to set price targets. Gold is still in a strong uptrend after consolidation and push back off this KLOS expect to Gold to move back up to resume trend
OANDA:XAUUSDLong
by William_Playfair
Gold - Asc Tri and Fibs working together to give exact targetsBullish Gold. It was very obvious that Gold was going up to the Fib and Asc Triangle targets earlier this year. It was not beyond the wit of man to see this move and trade it. Now that you can see Asc tringles happen all the time and that projecting fibs from the prior move top to bottom can be used for Gold to set price targets. Gold is still in a strong uptrend after consolidation and push back off this KLOS expect to Gold to move back up to resume trend
OANDA:XAUUSDLong
by William_Playfair
Gold - Asc Tri and Fibs working together to give exact targetsBullish Gold. It was very obvious that Gold was going up to the Fib and Asc Triangle targets earlier this year. It was not beyond the wit of man to see this move and trade it. Now that you can see Asc tringles happen all the time and that projecting fibs from the prior move top to bottom can be used for Gold to set price targets. Gold is still in a strong uptrend after consolidation and push back off this KLOS expect to Gold to move back up to resume trend. Fibs can be used to project the next long term price targets
OANDA:XAUUSDLong
by William_Playfair
Euro can make small move up and then continue to fallHello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price reached the resistance level, which coincided with the seller zone and at once rebounded down. Also, the price entered to triangle, where it at once made first a gap and then dropped until to support line, breaking the 1.0715 level. Next, the price some time traded between this level and later broke the 1.0715 level again and soon exited from the triangle, making a second gap also. After this movement, EUR started to grow inside the upward channel, where it in a short time reached the 1.0890 level and even broke it, making a third gap too. Next, the price reached the resistance line of the channel, after which turned around and dropped to the support line of the channel, breaking the resistance level one more time. Soon, the EUR exited from the channel and continued to decline, so, just now, I think that the Euro can make a small movement up and then continue to decline until to support level, but I set my TP near this level, at the 1.0740 points. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
1
Resistance on AUD/USD Ahead of CPI InflationThe AUD/USD currency pair (Australian dollar versus the US dollar) is on track to snap a two-month winning streak. It is down nearly -2.0% month to date, largely driven by risk sentiment. Monthly and Daily Resistance Levels Technically, the AUD/USD faded monthly resistance at $0.6670, which combines with the upper boundary of a symmetrical triangle, or ‘coil’, taken from $0.7158 and $0.6170. Adding ‘technical’ weight to said resistances is the Relative Strength Index (RSI) remaining south of the 50.00 centreline since April 2022, indicating negative momentum. On the daily timeframe, last week’s precipitous decline breached several key support levels, including $0.6580 and $0.6591, leaving both levels open for a retest this week. Another notable observation is the scope to continue exploring deeper water until reaching support from $0.6488 (you will note that this area also represents Quasimodo support). Price Direction Overall, the trend direction is relatively difficult to define at the moment. Therefore, recent downside sentiment, coupled with daily resistance, could be something sellers show interest in if tested, targeting daily support at $0.6488. As a note, do remain aware that we have Aussie Consumer Price Index (CPI) inflation out on Wednesday. These numbers have proven rather sticky in 2024, leading the Reserve Bank of Australia to strike a hawkish tone in recent meetings – a 20% chance of a hike is currently priced in for the August meeting. Should inflation come in hotter than expected this week, this could see rate-hike expectations increase and would place current daily resistance in a tricky spot. On the flip side, current resistance could be worthy of attention should a downside surprise in data materialise.
Short
by FPMarkets