Triangle
USDJPY: Bullish Trend Continues 🇺🇸🇯🇵
The breakout of a key daily resistance opens
more growth potential on USDJPY on a daily.
After quite an extended bullish accumulation
within an ascending triangle formation,
the price bounced yesterday and closed above its neckline.
I think that the market may reach 160.0 level soon.
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EURUSD → Readiness for further decline. Target 1.0600FX:EURUSD is in a bearish channel. The price is below the resistance at 1.0725, there is a possibility of retesting the liquidity area before further decline. The fundamental background is weak and the actual target is 1.0606
Globally, the market is neutral-bearish. The lower boundary of the symmetrical triangle on D1 is the actual target (testing the liquidity area). Based on the general situation on H4 it is worth paying attention to such zones as:
Resistance: 1.0725 (possible false breakout)
Support: 1.069 (breakdown. Consolidation below will activate sell-offs).
The market has a potential of about 1.10%.
No news today, the fundamental and technical background is still in place.
Resistance levels: 1.0725, 1.0812
Support levels: 1.069, 1.0606
On the daily timeframe, last week is closing very poorly, which most likely may hint at a possible continuation of the decline. The key target has not been reached yet, the potential is open.
Regards R. Linda!
Symmetrical triangle on APOLLOTYREAPOLLOTYRE formed a symmetrical triangle pattern on daily chart. Price broke out of resistance line today. However it was not a strong breakout. Its better to wait for price to move above todays high and then enter. Stop loss can be had just below prior swing low with target all time high levels. Todays volume was also above average but not huge compared to other high volume candle on the chart so a cautious entry is required. This trade offers ideal risk reward of around 1:2.5.
Hope you like this idea. If you like, please boost this idea or leave a comment below on what you think. Otherwise, happy trading :-).
ETHEREUM → Rising to 4000? Positive fundamental background...BINANCE:ETHUSDT may end the correction phase and move into the distribution phase, the target could be 4000-4800. Fundamentally, ethereum is receiving positive signals from regulators.
The price is breaking the resistance of the local correction pattern. The coin is trying to go beyond the consolidation range (breaking the bearish wedge resistance). A break of the local high will be a confirmation that the correction is over and the market is ready to move on.
Earlier ETH-ETF was approved, the next stage is confirmation of S-1 form (admission to trading), SEC is actively working with issuers, trading may start this summer.
Also, a positive sign of a strong market is the end of the SEC's judicial investigation against ConsenSys (Ethereum developer). Volumes are rising and like the price, traders are taking this fact positively.
Resistance levels: 3650, 3730
Support levels: 3585, 3480, 3400
The price consolidation above 3650-3730 will confirm the end of the correction. Bulls in this case can take the situation into their own hands after a long accumulation, the target of which may be a test of high, as well as ath.
Regards R. Linda!
GOLD (XAUUSD): Bullish Accumulation?!
Quick update for Gold:
since my last post on Sunday, the market formed a classic bullish
price action pattern on a daily - the ascending triangle.
The pattern signifies a bullish accumulation and a highly probable
coming bullish movement.
To confirm that we stick to the plan that I shared earlier.
We wait for a bullish breakout of 2341 and a daily candle close above.
It will open a potential for a bullish continuation to 2375.
Alternatively, a bearish breakout of a trend line of a triangle
can give us a strong bearish signal.
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Macro Bitcoin ThesisThis will not be appreciated and who knows if it's right but here's my last macro prediction for the distribution of risk assets.
Curtesy of x/ki_young_ju we have what looks like to be miner selling beginning. ETF inflows are still increasing, though.
x.com
We have what looks like Bitfinex exiting stage left.
Easy to see when exchanges deviate from the Bitcoin average price we get tops.
Bitcoin Dominance is topping as well. This will be the best time to predict where you are selling your altcoins as they are already popping off, and have much more room to grow from here while Bitcoin stalls.
My idea for the flows of liquidity will be US firms will still want exposure to their Bitcoin through the ETFs but the rest of the world hasn't had the regulatory hurdles the US had, so they will be selling their Bitcoin to the US at top tier prices, causing a top, in my opinion.
The price discovery periods for Bitcoin, although higher in price, will average less in magnitude.
Gold will Go Down by Symmetrical Triangle Pattern!!!Gold is moving in a Descending channel near the Resistance zone($2,337-$2,318) .
In terms of Classical Technical Analysis , Gold has managed to form a Symmetrical Triangle Pattern , which indicates the continuation of the Downward Trend .
I expect Gold to continue falling(Probably with two scenarios) after breaking the lower line of the Symmetrical Triangle Pattern , at least to the Support zone($2,337-$2,318) .
Gold Analyze ( XAUUSD ), 1-hour time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.
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TOTAL !CRYPTOCAP:TOTAL
Total crypto market cap may rebound from support trendline of ascending triangle
Successful bounce from this trendline lead to bullish continuation , However, a breakdown could trigger a bearish trend, pushing the market towards $1.85 trillion.
Traders, if you liked this idea or have your opinion on it, write in the comments, We will be glad.
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⚠️Things can change...
The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
USD/JPY Technicals Point Higher, but Intervention Risk RemainsFrom a purely technical perspective, USD/JPY remains in a well-defined uptrend that started just after Christmas. Over the last few weeks, the pair has carved out a clear ascending triangle pattern with resistance at 158.00, suggesting that a break above could quickly expose the 30+ year highs near 160.00.
The only fly in the proverbial ointment is the BOJ, which may look to intervene to cap the pair on a move toward 160.00, as it did in late April and early May. Overall, the technical bias remains bullish, especially if we break 158.00, but traders will want to plan for the risk of potential intervention with smaller position sizes or tight stops.
-MW
AUDJPY: Very Bullish Setup 🇦🇺🇯🇵
One of the setups that we discussed on a today's live stream is on AUDJPY.
The pair broke and close above a neckline of an ascending triangle pattern
on a daily.
Retesting the broken neckline, the price formed one more triangle on an hourly time frame.
Its neckline breakout is a strong intraday bullish signal.
I believe that a bullish trend will continue on the pair.
Goals: 105.5 / 105.7
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Short AUDCHF Idea based on Classical chart patterns on a short time frame(4H chart).
abbreviations:
M/W/D/H = Month/Week/Day/Hour
TL: Trendline
DT: Double Top
DTr: Descending Triangle
The chart goes from Monthly(top left)/Weekly(top right)/Daily(bottom left)/4 Hours(bottom right)
1st from the monthly chart you can see the pair in a steady down trend, and maybe one could say that it is sitting at the low ends of the down trend.
zoom into the weekly chart and you see that indeed there was a DTr that took 17W to form indicating a break lower, which never happened. A failure of this pattern led to a move to the target derived from the pattern @0.6055 level. the market now hit the target. And the heat seems to be waning.
in the daily chart, near the 17W DTr failure target the market has now attempted to form patterns indicating topping out of the moves, 8W DT and 4WDT. While the former turned out to be a failed pattern, the former, at least for now, seems like a pattern completion.
all this in mind, the 4H chart now seems to be forming a 1W DB, which could mean that the market is still strong, and the bullish move may continue, or this is a failed attempt to consolidate and the trend turns.
based on the target derived from the 1W DB, the risk return looks more favor for a short AUDCHF, looking for almost 7:1 risk reward trade.
Entry : 0.5938 or above
SL : 0.5953 (-0.25%) / TP: 0.5835(+1.7%)
(as always, not investment advise or prediction)
EURUSD could stage a collapse to 1.065EURUSD is encountering strong resistance at 1.08883 level
After a false breakdown, a retest and reversal candlestick pattern is formed.
After breaking the downside resistance, the price does not go up and most likely will not be able to do so.
On Thursday, news may be released that could reinforce the decline.
If the price returns in the pattern boundaries, but we should expect a decline to 1.065.
"Massive Opportunity: RK Forge Breaks Free from Triangle PatternRK Forge has just broken out of a triangular pattern, setting up for potential gains. If you're looking to enter, consider placing a stop loss around 12% below the current market price to manage risk effectively, and aim for a trade with a minimum risk-reward ratio of 1:3 or 1:2.
Unbelievable Stock Surge :How OLECTRA GREEN TECH Could SkyrocketOLECTRA GREEN TECH is known for its significant price movements, typically following breakouts. Since its initial launch, the stock has surged from 4-5 Rs to 2200 Rs, marking a remarkable +47,000% increase. Currently, there appears to be a promising opportunity as the stock consolidates within a triangular pattern. With a suggested stop loss below the 1450 Rs mark, there is potential for a minimum 30% upward movement, with a downside risk of 5% when the stock reaches support levels. Adjustments to the stop loss may be necessary during a breakout, but maintaining it around the 1450 Rs level seems prudent.