Get started

Triangle Wave

Breakout from Downwards Triangle Triangle formations always precede breakouts! It is best with cryptocurrency to look for triangles on 4hr or 1hr charts, though sometimes one can find them on 1 day charts. Like a series of waves getting smaller and smaller until the shape is formed, triangles must have three complete waves to accurately precede a breakout. Here you can see the three waves forming the triangle structure and the breakout downwards. The breakout immediately continued until the price hit the RSI 30 mark - oversold. The signal line crossed the MACD line marking a bearish reversal as well. I am not currently invested but wanted to offer this post as education.
COINBASE:BTCUSDEducation
by Grandmaster76
BTCUSDSimple ideas into March 2020 based off the price action zones BTC has/is creating. I can see a future to 15-18k zone...peak being a spike and probably a very heavy denial. There will be a lot of people trying to recover investment losses of 2018. We are hitting those numbers again. I see the people looking through the hope cycle and pushing numbers to the north for this reason. Impulse Build up.... Impulse Please review related and prev. ideas :) As always please like and comment your thoughts on the upcoming movements of BTC. I simple see the large time frame accumulation zone beginning before IMPULSE 2 on daily begins. Until then we need a SOLID ceiling that proves a drop back down. I believe that drop can happen anywhere between 15-18k and that we are getting a 123 or ABC impulsive reaction to the market. I have marked a FLAG range that would be a good probability to say this would be our large base accumulation build up into March 2020. Just like our recent April of 2019....I see another rise come April 2020. But from where????? what price??? and WHY???!?!?! You tell me your thoughts... Thanks for following and supporting everyone!!!
BITSTAMP:BTCUSD
by AschraM
7
USDMXN – Potential Triangle Breakout– Long Term Bullish TradeBackground: Based on the price data available on Monthly chart (see below), the USDMXN is in longer term Bullish trend. It formed a major spike high in Jan 2017 and since then it has been in a consolidation, forming higher lows, suggesting strong based being built. The extreme bullish sentiment for MXN might be fostered by the fact that the uncertainties associated with recent election and Trade Agreement with US is over. However the Trade Agreement with US might have complication currently not anticipated. Regardless the out performance by Mexican Peso might be coming to an end. Summary of some of the technical: 1. Monthly (see chart below in update) a. Whilst forming higher lows in this consolidation it is riding 50 MA. b. Bouncing of the bullish trendlines pivoted across alternative pivots. c. Possible Cup & Handle formation which is continuation Pattern d. Developing potential bullish diversion between MACD weakening in momentum to the downside and with price forming higher lows. This would be significant as MACD form possible low above zero line e. There is possible time symmetry of Approx 11 months between July 2017 low to June 2018 high and June 2018 high to April/May 2019 low being formed now. 2. Weekly (See chart below in Update) a. Potential Cup & Handle formation little more clearer, though there might be other more appropriate description. However series of higher low are very clear. b. MACD Bullish bounce around zero line is also very clear and bullish diversion. c. Riding 200 MA (weekly) d. ADX is a very slow indicator but it is now below 10. Bouncing from around this level is often an indication of possible new trend in the making. In conjunction with above observation this could be a bullish trend development. 3. Daily a. Since last major peak I Jan 2017 USDMXN could be forming a potential triangle of 3-3-3-3-3 structure. This likely completed with April 2018 low. b. A breakout above the 200 MA around 19.50 would confirm with initial resistance around 20 but longer term aiming for new high. c. MACD is bullish and DAX on daily is also formed a double bottom around 12 and higher low from compared with Oct 2018. 4. COT Data – (Please see chart in the Update) a. Has relative high open Interest. b. Net long by Non Commercial (Large Speculators) is at extreme level not seen since April 2013. c. Such extreme bullish sentiment on MXN could come under pressure if the MXN Peso began to weaken against USD and commence the next bullish cycle for USDMXN Conclusion: Longer term Bullish breakout of the consolidation is anticipated. Use your own method of entry and trade management. Suggested entry could be upon: 1. A clear breakout above 19.50. 2. A pull back towards 19.0. 3. As this is for a longer term trend trade initial stop could be set around below 18.0 or such level that is appropriate on lower time frame Warning: This is my interpretation of price action using TA approach that I consider helps me the most but could be completely wrong. Therefore, as always, do your own analysis for your trade requirement and ignore my views. For those who appreciate my analysis, select to follow me and the chart for notification of future updates. Indicate you like my analysis by thumbs up, comments and sharing it with others. If you have an alternative idea then, please be constructive and share for all to learn from. Thank you for taking the time to read my analysis. DanV
Long
by DanV
10
EW ABCDE Triangle Correction on Bitcoin (#BTC)Bearish Bitcoin Analysis based on Elliott Wave Count, Fib Time zones and Fib Wedge tools. The prediction is based on the fact that Bitcoin is still in ABC-Correction of greater degree and the last bottom hasn't been validated yet. Imo, Wave-A of Grater ABC-Correction is finished and Wave-B is just formed. In more detail, this Wave-B is made up of corrective ABCDE-Triangle. Wave-A is already formed and Wave-B just started. The goal is to test the last low or create a new one. If you like my TA, pls. hit that "like" buttom, follow me or leave your comments. Thank you.
BITFINEX:BTCUSDShort
by AsBobbyDigital
2
BTC ... could it be??Hello everyone. Following the Elliott wave count, I am still expecting one more drop (sub-wave 5 of wave C, the capitulation wave). This could also be considered the spring test in Wickhoff Theory (I'm not an expert, but communicate with one that is). It's clear, there are plenty that are expecting a new bottom, and it is also clear the market has gone (bullish) mad with just a $700 rise! We must consider this sentiment. These feelings are forces to be reckoned with, and so neither the bull or the bear will just sit back and allow the other to win. What I'm trying to say is that it's not going to be easy for the bears to get this much lower, as in sub $2900. It's not impossible, and that's easily proven by how deep they were able to take it back in November from $6k to $3k, cutting through all support like nothing. But now we are in a new layer of trader ... as we dig deeper into the price, we deal with stronger Hodlers, people who have dealt with BTC for over one year or longer. They were either smart enough to not get burned in the bear market (the 20%) or they have lost almost everything and don't really care at this stage if it goes down further, they are committed to holding (most of the 80%?). So, I print this potential pattern ... let's see if this triangle wave unfolds. This would be sub-wave 4 ... and then a final sub-wave 5 down to 29XX?? ... or will the bulls hold the line at 31XX ... or will the bears break their spirit and take it to 1300 - 1800 territory? Right now, if I was forced to choose, I'd say 29XX to 31XX will be held. That will be a fairly bullish sign for me and then it would likely only be a matter of time before we (slowly) start our new bull run. Let's analyze this triangle ... it seems we have topped out now. Bears will likely take advantage of that red candle on the daily. Finex longs have closed out drastically, which means the market generally thinks it's the top ... however, there's another point there ... the bears won't be able to stop hunt much, because longs have closed out in droves. I print wave D hitting the bottom of the ichi cloud and finding support. Then wave E tops out about where the ichi cloud twists on March 18th ... the ichi twist has almost always predicted a top or a bottom. The last one a few days back, proved to be a local bottom before we had that nice pump up to $4k. Let's see how this plays out. Remember only a fool relies on one potential outcome. Do not use this information for trading, investment, or financial decisions. For educational purposes only.
BITFINEX:BTCUSD
by MAGICMARK
2
AMZN Bearish Triangle Wave + Fisher DivergenceShort opportunity in the works, indicated by bearish elliot triangle wave coupled with a bearish divergence in the 9-day fisher transform. May remain relatively flat on low volume until earnings reported on January 31st, or perhaps drop before then with the broader market on "trade tensions" and "fear of global economic slowdown". Long-term view: Amazon has a lot of debt going forward in a market (online retail) that is largely saturated. Competition with Walmart, Target and other retailers putting their foot in the E-commerce space will force Amazon to fight a tough pricing battle in many of their key segments (i.e. consumer electronics, clothing). Competition will push retail prices closer to the cost of production, which will hurt Amazon's gross profits and ultimately, keep their net margin minimized. Without increasing net profit, Amazon will find it increasingly difficult to secure low interest debt. This, coupled with stiff competition and market saturation, will threaten to greatly reduce or stagnate Amazon's growth as a retailer going forward.
NASDAQ:AMZNShort
by Derivati_Capital
2
A way to profit from Bitcoin's next movesIf Elliott Wave ABCDE correction goes according to the chart, then it goes as follows: First, BTC goes to $3900 to $4000. It then drops and breaks the triangle, retests and possibly hits the $3150 support (December low, you can put your take profits in there) and completes Wave 3 as a longer scale movement. So the entry on the short side - breaking the $3500 price level, would happen around the beginning of February (implying that BTC will hit $3900-$4000 in the meantime). This can either be done with breaking of the trendline or pullback after the initial drop. At the moment, as long as BTC stays above $3550, we are bullish and aim at either $3900 - $4000 (short term) or $3150 (intermediate term). Stop losses should also be placed according to your comfort zone, preferrably a little below/above the support/resistance lines; margin should be kept low because after some silence, Bitcoin will probably become volatile again and can wipe a lot of traders out with squeezes to either side. Safe trading!
BITFINEX:BTCUSD
by SparkLife
2
BTC: Elliott Wave ABCDE triangle correction on the wayIf everthing goes according to the chart, then it's pretty simple: From here on, BTC goes to $3900 to $4000, then drops and breaks the triangle, possibly breaking the $3150 support (December low) and completing Wave 3. So the entry on the short side - breaking the $3500 price level, would happen around the beginning of February (implying that BTC will hit $3900-$4000). At the moment, as long as BTC stays above $3550, we are bullish and aim at the targets mentioned before. Safe trading!
KRAKEN:BTCUSD
by SparkLife
DLT (Agrello) Symmetrical Triangle ABCDEDLT the tittle says it all, those setups that is worth to see develop! There's hidden bullish divergence on RSI. Making another higher low and consequently (if doesn't break up) another lower high on PA (Price Action), should mark another lower low on RSI for confirmation of the bullish hidden divergence (3rd point) - continuation of uptrend. Hopefully we break up right after the lower low on RSI (3rd point) and touch the bottom of symmetrical triangle. This is indeed a perfect setup, but as we know, not always play, especially completion of targets. So, be aware and book profits or use TSL (Trailer Stop Loss). - Trade the breakout! PM for any info!
DLong
by Jnsane
USD/TRY: Swing-Setup! TRIANGLE BREAKOUT and a nice opportunity!Hey tradomaniacs, welcome to another free signal! Important: This currency-par is very volatile and sometimes unpredictable! Make sure to trade with a decent money-management! ----------------------------- Type: Swingtrade Buy-Stop: 5,36806 Stop-Loss: 5,25977 Target 1: 5,550 Target 2: 5,66790 ----------------------------- LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me. Any questions? PM me. :-)
Long
by Trading2ez
3