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Trianglepatternbreakout

Ascending Triangle Pattern Tutorial: 3/8 Bullish PatternsAscending Triangle Pattern Tutorial: 3/8 Bullish Patterns An ascending triangle is a bullish continuation chart pattern that signals the potential for an upward breakout. Here's how it forms: Flat Upper Trendline: The upper trendline is flat, indicating a resistance level where the price consistently faces selling pressure and fails to move higher. Rising Lower Trendline: The lower trendline is ascending, showing higher lows as buyers step in at increasingly higher prices. Price Convergence: The price action gets squeezed between the two trendlines, leading to a tightening range. Breakout: Eventually, the price breaks above the resistance level, indicating a continuation of the upward trend. This breakout is typically accompanied by a surge in volume. Ascending triangles are popular among traders because they offer clear entry and exit points. The height of the triangle, measured from the base to the horizontal resistance, can be used to estimate the potential price target following the breakout. LIKE l FOLLOW l SHARE
NASDAQ:METAEducation
by RonnieV29
2
A continuation triangle?The price has triangulated its direction and now goes to the test of the upper level, to be valid it must respect some parameters including volumes and time. Here we have everything to have a valid triangle, we just need a breakout with above-average volumes. We are in 3/4 of the time calculated from the first retracement to the hypothetical summit, it has been a while since we have seen these very evident figures on the btcusd chart. I decided to write and publish it because looking around I saw that many are following this pattern, which represents the market's intentions and not the future. Certainly this continuation graphic formation gives us hope, given that the trend is bullish. Perhaps the price could give us another important movement before the retracement on the intermediate which will be the moment in which having liquidity to buy or mediate will make the difference on the final results of the trades, because holding without doing anything is easy, taking the corrections by selling and then buying back lower is difficult, but remains the objective of the majority of traders.
BITSTAMP:BTCUSD
by Melupira89
FXS Expanding T-Pattern Analysis: Potential Breakout and Grow?!🍣📈This analysis examines the expanding triangle pattern formation and assesses the potential for a breakout and subsequent price growth. 📈Expanding Triangle Pattern: An expanding triangle pattern has been identified, characterized by rising highs and falling lows. This pattern indicates a buildup of market indecision and uncertainty. 📉🔺Breakout and Resistance Levels: A breakout above the daily resistance level could signal a bullish trend reversal and potential for further price appreciation. The next daily resistance level would then become the target for the upward movement. 📊🔺RSI Confirmation and Volume: A break above the RSI trendline would provide additional confirmation of the bullish breakout. Increasing trading volume alongside the breakout would indicate strong momentum and support the upward trend. ⛔Important Considerations: False breakouts are a possibility with expanding triangle patterns, and traders should exercise caution. 🔽Additional technical indicators and market sentiment analysis can help validate the breakout and provide trade entry and exit signals. 🚫This analysis is for educational purposes only and should not be construed as financial advice. Always conduct your own research and employ sound risk management practices before trading.🚫
Long
by solinash1
4
MAZDOCK Breakout ReadyMazagon Dock Ship Builders Ltd. recently announced that the company will pay dividend to its shareholders for which the record date has been set at November 20, 2023. This will be the highest dividend the company has ever paid till date. We have previously seen the company pay dividend to its shareholders in the past so it has a good track record of giving growth & revenue to its shareholders. The company has a strong order book which gives it a fundamental boost to be a good pick for the long term. Coming to the charts, the stock has formed a triangle pattern that can give an aggressive breakout in the days to come. The daily RSI is trending around 50 which can give it a boost as its a sign that the momentum of the stock has not yet exhausted. The stock is also outperforming NIFTY which makes it a favorable pick.
NSE:MAZDOCKLong
by nikhilchhabra