Get started

Descending Triangle

The Descending Channel Pattern 📈🐂Understanding the Descending Channel Pattern: The descending channel pattern is a price pattern that forms on a chart over an extended period. It consists of two parallel trendlines: an upper trendline that connects the lower highs and a lower trendline that connects the lower lows. These trendlines create a descending channel that slopes downward. Key Characteristics of the Descending Channel Pattern: Slope: The channel slopes downward, indicating a gradual decline in price over time. Support and Resistance: The lower trendline serves as support, and the upper trendline acts as resistance. Prices typically move within this channel. Duration: Descending channels can persist for weeks, months, or even longer, making them suitable for long-term trading strategies. Trading the Descending Channel Pattern: Here's how you can effectively trade the descending channel pattern in Bitcoin: Identify the Pattern: Begin by identifying a clear descending channel on the Bitcoin chart. Look for multiple touches on the upper and lower trendlines. Entry Point: Consider entering a long (buy) position when the price approaches the lower trendline, which acts as strong support. This is often an optimal entry point. Stop-loss: Place a stop-loss order below the lower trendline to manage risk. If the price breaks below this support, it could signal a trend reversal. Take Profits: Set your take-profit levels near the upper trendline, which acts as resistance. This is where you can consider selling your position to lock in gains. Confirmation: Look for additional confirmation factors, such as positive news developments, strong trading volume, or bullish indicators, to increase your confidence in the trade.
Long
by Yaroslav_Krasko
GOLD → Breakout of global trend resistance OANDA:XAUUSD reverses. The price overcomes several resistances and updates the local high, when retesting the liquidity area, to 1935 If we pay attention to the high timeframe, we can see that the price overcomes the resistance of the downtrend (wedge). The daily candle on Monday closed almost at the daily high, which is a strong signal that with another retest of the previous day's high, the growth may continue. Also, I am very likely to expect growth, but only after a retest of the previously broken support area. That is, in our case there are two zones for buying, it is the zone near the support (liquidity area 1930-1928) and the zone above the resistance 1934-1935. If this line is broken and the price consolidation above the level, we can also buy. Moving averages continue to realize the formed buy signal Support levels: 1928, 1930 Resistance levels: 1934, 1935 I expect growth in the medium term. The price breaks the resistance of the bearish trend and gains the target - the retest of 1950 OANDA:XAUUSD CAPITALCOM:GOLD COMEX:GC1! COMEX_MINI:MGC1! TVC:DXY Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
19
STXUSDT → Price over the wedge resistanceBINANCE:STXUSDT breaks resistance amid bitcoin consolidation. Earlier, a false breakout of consolidation support was formed, which influenced the trendline breakout We see a prolonged consolidation formation in the format of a descending wedge. Yesterday, when BINANCE:BTCUSD began to strengthen on the background of weak positive news, Stack/TetherUS broke through the resistance of the figure. A day later, we see the price consolidation above the line and now, if the consolidation is successfully realized, the price may reach 0.5447 in the near future. Regarding the indicated resistance - 0.5447. This line delimits us from a strong bullish growth. If the coin is able to break this resistance on a retest, then in the medium term we could see a rise to both 0.8779 and 1.1924 Support levels: 0.4371, trend line Resistance levels: 0.5447 I expect growth to the resistance of the range with the subsequent breakout after a small pullback. Regards R. Linda!
Long
by RLinda
11
US2000: Thoughts and AnalysisToday's focus: US2000 Pattern – Descending Triangle Pattern Support – 1840 Resistance – 1870 Thanks for checking out today’s update. Today, we have run over US2000, breaking down the overall price picture, levels, and patterns and incorporating moving average and RSI into the analysis. The Russel isn’t a market I normally watch or trade, but the descending triangle pattern did catch my eye today. Overall price sits in a range, but it has broken a trend on the inside and set up a LH. These patterns are normally seen as bearish after a trend break, but support looks rather firm at this stage. With the FOMC coming up later this week, watch out for a false breakout lower that closes higher. This could set up a higher breakout. If sellers continue to push at support, look for a solid close-through support with a new failed rally that sets a new weekly low. It’s going to be interesting to see which side gets the win here. Have a great day and good trading.
EIGHTCAP:US2000
by Eightcap
GOLD → Market declines in steps - a strong hint OANDA:XAUUSD is moving in steps, gradually updating local lows, which speaks about the current trend. After another resistance retest, which failed, the price returns to the support and under the market pressure breaks the line On the senior timeframe a sideways range is formed and the price is approaching the decisive support, a rebound before the breakout may follow. On the local timeframe we see the breakout of another support line and the price decline to 1905 (at the time of writing the review). Most likely, gold seeks to test the liquidity area below the key low of 1903.8. (False breakout is possible). From this area the market is likely to form a correction to 1908 or to 1912 with the subsequent decline on the background of the downtrend and reaching again 1903 or even to 1889 in the medium term. TVC:DXY does not give preconditions to fall yet and may continue its growth, for which XAU is preparing. Support levels: 1903.8 Resistance levels: 1908.4, 1912.8 I expect a retest of support, but the market will not break this level at the first time, but will form a rebound before a further fall. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
23
EURUSD → The market is forming limit resistanceFX:EURUSD is testing the resistance of the current trend channel, but cannot break this area. While the TVC:DXY is correcting, the currency pair is forming consolidation The dollar index is declining after the retest of 105.00, most likely the area of 104.00 will give a new impulse, therefore, the forex market will give a corresponding reaction. If the dollar strengthens, the euro will weaken. At the moment we see a retest of trend resistance, the market is forming a limit resistance area at 1.0765 and pushing the price away. The bears are showing their strength at the moment. An important support before the momentum formation is 1.0705, if this line is broken, the market may give a strong impulse. Resistance levels: 1.0765, upper boundary of the channel Support levels: 1.0705 I expect the currency pair to continue to decline, but if the dollar index breaks 104 and heads towards 103, eurusd may try to break the resistance. Regards R. Linda!
Short
by RLinda
11
💱GBPUSD - A descending triangle will send the price to 1.23680GBPUSD continues to move within a strong downtrend. The price has already lost 5.3% from the high and is ready to lose more. A pattern is forming which could send the price to 1.23680 TA on the high timeframe: 1) Failure of the support at 1.25479 will form a new impulse and a new level 2) A stop at 1.24450 forms a support and 3 days later the price comes back to retest this line. The market is preparing for a breakout and further decline TA on the low timeframe: 1) A descending triangle is formed, which can be interpreted as sellers' pressure on the support area 2) The line is already broken and now either consolidation or retest will be formed. 3) Support at 1.24500 plays an important role for us. If this level is broken and the price consolidates below it, the potential for a possible decline to 1.23682 will be formed. Key resistance📈: 1.25000, 1.25279 Key support📉: 1.2463, 1.24500
Short
by AndeWave
7
Bitcoin - This week 10% pump or 10% dump! (BREAKOUT) This week is going to be huge! We have this head and shoulders pattern that is ready for a massive breakout. I give it a 70% chance of breaking down and a 30% chance of breaking out of this pattern. The most important thing is to let me know in the comment section what you think about this upcoming crash or pump! Up or down? Bitcoin is on the road to 20k and potentially 15k later this year if this pattern breaks down, so for the bulls, it's important to defend this support and start a new uptrend from here. As you probably already know from my previous ideas, September is the worst month for Bitcoin, with an average negative return. That means the price of Bitcoin usually goes down in September. This is a statistical fact, but of course it's not a guarantee. It's likely for Bitcoin to go down based on historical data. The halving event in April next year is still too far away, so you cannot rely on it. Most likely, we are going to find the bottom on Bitcoin in March 2024. This is a quick update on the price of Bitcoin. I always give you a complete outlook for Bitcoin to stay updated on all time frames. From monthly to hourly. Make sure you follow me so you do not miss out on my next update! We all know that the price of Bitcoin can sometimes become very boring when it's stuck in a range and volatility is at its historical minimum. But it is how it is, and that's why if you are a crypto trader, you can trade altcoins as well for diversification purposes. This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately. Thank you, and for more ideas, hit "Like" and "Follow"!
BITSTAMP:BTCUSDShort
by UnknownUnicorn2537518
147
EURGBP → Weak market. Prolonged support retest FX:EURGBP is under resistance pressure.There is clearly either a weak buyer or a rather strong seller in the market. Regarding the limit support area, the price continues to push. I noted the important level of 0.8541 and 0.8521. And also an important pattern - descending triangle. The support area of the pattern coincides with the area of the limit support. The price has been testing this zone for several months and there is no particularly strong pullback. The price returns to this line every time. Most likely, the weak market continues to hint to us that the global low on the chart may be updated again in the medium term. In priority, I expect a retest of the figure resistance with a further fall to the support area and testing this zone for a breakout and decline to 0.8450. Support levels: 0.8541, 0.8521 Resistance levels: 0.8609 I expect a retest of resistance in the near future with a subsequent fall to the support area. The chance of breaking through this support is quite high at the moment Regards R. Linda!
Short
by RLinda
8
💱GBPCAD - Triangle on the background of the uptrend GBPCAD in the format of a global ascending price channel forms a setup that may resume upward movement after a small stagnation in the flat format TA on the high timeframe: 1) The market is in a bullish trend. Consolidation is forming above 1.71000. 2) The liquidity area on the support side may not let the price down, but on the contrary, push it up and make the price break the resistance TA on the low timeframe: 1) A triangle continues to form. The price is consolidating 2) A false breakout of resistance is formed, the price forms a rebound. 3) Two scenarios are possible: 1) price will form a quick retest of resistance - a situation with a high chance of a breakout. 2) price will reach the support and market reaction will be formed from this area. Key support📉: 1.70987 Key resistance📈: 1.71750, 1.71910
Long
by AndeWave
8
BELUSDT → Moving into the realization phase of consolidationBINANCE:BELUSDT feel better than the same BITSTAMP:BTCUSD which is preparing to fall. The weak market and red bitcoin speaks volumes, but at the same time there are coins in the market that can show good potential On the BINANCE:BELUSDT chart, I pointed out the descending triangle and we see the breakdown of the main scenario and purpose of this pattern. The price is breaking the resistance and trying to form an impulse. The market is moving into the phase of realization of the accumulated potential and only 0.6894 area separates us from the distribution. If this resistance is broken, a rather active bullish impulse to 0.9000 or even to 1.2000 may be formed. In the near term, the price may move into local consolidation between the previously broken triangle boundary and 0.6894. Another retest of the resistance may lead to its breakout and impulse. The price is testing MA-200. There may be a retest after the pullback. Support levels: 0.6210, 0.564 Resistance levels: 0.6894, 0.7150. I expect consolidation and retests of 0.6894. One of the next retests may lead to a breakout of this resistance, which will form an impulse to the above targets. Regards R. Linda!
Long
by RLinda
11
📈 PERP/USDT Descending Triangle Breakout 🚀Hey traders! 👋 PERP/USDT just made an exciting move that caught our attention. 🚀📉 Chart Analysis: We've been tracking PERP/USDT for a while, and it's been forming a descending triangle pattern. This pattern typically signals a potential breakout on the horizon. 📉📈 Today, we witnessed the anticipated breakout to the upside! 🚀🚀 This bullish move is certainly exciting news for PERP traders. Key Points: 🔹 PERP/USDT broke above the upper trendline of the descending triangle. 🔹 Volume surged during the breakout, confirming the move's strength. 🔹 The next resistance levels to watch are at $12 and $14. Trading Strategy: While this breakout is promising, it's essential to exercise caution. Always have a clear risk management strategy in place. Consider setting stop-loss orders to protect your positions and locking in profits as the price continues to rise. 🛡️💰 Remember, trading involves risks, so trade responsibly and only with what you can afford to lose. 🚨 Keep an eye on PERP/USDT as it continues its journey. The crypto market is full of surprises, and this breakout could lead to exciting opportunities. 🌟 Happy trading, and may the charts be in your favor! 📊🤞 #PERP #USDT #CryptoTrading #TechnicalAnalysis #Breakout #DescendingTriangle #CryptoMarket #TradingView #CryptoAlert
Long
by STP_MrNodeItAll
2
OCEANUSDT → Wedge resistance breakthrough. New signal BINANCE:OCEANUSDT is making a liquidity shakeout from the support side. This maneuver gives a reserve of energy within which the price overcomes the resistance and breaks the wedge As bitcoin tests an important support area (25000 zone) and then forms a bullish momentum, the altcoin market starts to react accordingly. For us, it is important that bitcoin's reaction is not a short-term correction, but is supported by the trend. As for OCEAN - pay attention to the wedge (descending triangle). After the shakeout we see active growth and resistance breakout. Earlier there were retests and everything ended in a false breakout, so in our case it is now necessary to wait for the price to consolidate above the broken line, only then it is logical to open long positions in the hope that the market will strengthen. Support levels: 0.3027, previously broken line Resistance levels: 0.3335, MA50 and MA200 The market can perform quite well, but we need to wait for a more stable situation. I expect OCEAN to rise to 0.4477 in the medium term Regards R. Linda!
OLong
by RLinda
11
CVXUSDT → The coin is preparing to break through resistance BINANCE:CVXUSDT against the backdrop of COINBASE:BTCUSD , which has been falling for a long time and finally stopped, is forming a rather interesting consolidation near the wedge resistance. The coin on the chart is testing the bottom at 2.417, after which it forms a decrease in volatility and consolidation, within which the coin is creeping up to the trend resistance.There is a high probability that with a small bitcoin consolidation CVX will break the trend resistance and give a gorgeous bullish impulse. If the accumulated potential is realized, the price could reach the 3.180, 4.235 and 6.400 area quite quickly. The moving averages indicate a bearish trend, the price will have to go quite a long way to retest the SMA. Support levels: 2.417 Resistance levels: wedge resistance, 3.180 The altcoin market is waiting for any bullish reaction in the market, including from bitcoin, which plays an important role in this market. Altcoins react weakly to the fall of the flagship and react strongly to the rise. We expect a breakout of the wedge Regards R. Linda!
Long
by RLinda
6
SPY Bear Trend DaySince printing a SL on 2023-08-18, AMEX:SPY had retraced 38% of the 2023-07-23 decline. Selling pressure remained heavy; though three of the four candles were positive, every bar dipped into the body of the previous bar approximately 50%. So while it seemed like a BTD, it did not seem like there was market consensus prices here were too good to pass up. We have DTLR connecting the 2023-07-23 and 2023-08-10 SHs with three tags total but none since Aug 10. In pre-market, SPY was looking to open at $445 which was just over DTLR. On the H2 we can also identify a descending price channel. This channel has two positive outliers and eight tags going into Aug 24 along channel resistance. Support had been broken on Aug 16, successfully retested shortly after, but was retested again where it failed on Aug 22. Since, we've been back in the channel. On the H1 I also have marked an ascending channel off the Aug 18 L. Channel support was tested four times; resistance only once though four times if you're a little more generous (I'm not specific with how close price has to come which probably could be better). We also have support from the 2023-08-11 O which was tested several times before failing on Aug 15, tested again from below on Aug 16. It was reasonable to expect some type of inflection here, I thought. I had posted an idea to TradingView yesterday morning that stated the following: SPY is $1.67 from a slightly-ascending SMA(50) only a little further from a descending SMA(20). Yesterday's close was a HH and HC and the highest since Aug 14. As of this writing, SPY is looking at a FGU over the 50. I will be watching the gap to see how SPY reacts. On the hourly I have outlined a rising channel that, if the current forecast open of $445 holds will be above channel resistance. This strongly suggests the gap will fill early and, my best guess is, completely. At that point we can assume a risk-on position at least from a day-trading perspective. But, we must see the reversal first. There is potential support on the H1 at $443.85 which is the 2023-08-11 O. Next support is $442.60, the 2023-06-15 C. This level has seen several instances of some type of reaction. So no reason to think otherwise. And then from there, $441.18, the 2023-08-22 O. Until channel support breaks, long positions may be held as swings while short positions should be day trades only. Mentally, I was not in the frame of mind to look for a short. During the rally on Aug 23 I had kept expecting the market to turn over but it just never did; I was focused more on what I wanted than what I saw. I have not seen enough evidence to be convinced the Aug 18 pivot was a BTD moment for the reasons mentioned above. And, though I wasn't looking for a deep PB, I was looking for something. So, I went into yesterday morning with the idea of just letting the market dictate to me what it wanted to do. But, when I saw the open, again remembering shorting the Aug 23 rally, I saw it as an opportunity to BTD, even knowing the obstacles ahead. I just was not in the right frame of mind. When the market opened we got an immediate gap fill which, as I wrote above, I was expecting. The market printed a reversal doji, got the FT, and retested the O where it printed a new HOD on the 10:00 bar. The key bar, obviously, is the 10:05 bar. This bar completely wipes out nearly all of the gains off the LOD. It is the largest bar of any color, in quite some time (unverified; I do not have the stats). This is a signal bar! Off a double top, the market is screaming "we're going down!". (One could argue the 09:55 bar was the signal bar with the bearish doji and the 10:00 bar was the entry bar.) For thirty minutes we fell with only two retracements into the previous bar. From there until into the 12:00 bar we get small corrections that barely tag the 9EMA. Beginning at the 12:00 bar we start to get a bounce and now we see where late-arriving sellers are trapped; the easy money is over and the early sellers start covering to protect profits. We get a steep rising channel that surely can't be held, printing a zigzag that retraces 25-30% of the decline. From there we work out a descending triangle that devolves into a descending price channel before finally breaking down going into the end of the day. Sellers can certainly consider the day a win. It doesn't mean anything without FT. I strongly suspect we get it as I'm sure most of the market does, as well. Which, perhaps, makes it more likely it's just a fluke. We'll see. Some retracement is likely. But new resistance has been set and it's now on buyers to tell us if we are actually in a BTD market or STR.
AMEX:SPY
by timtrice
💱CADCHF - Dynamic Seller VS Limit Buyer CADCHF is in a strong bearish trend, as the D1 chart tells us. Price is forming a retest of strong support, which prepares the market for further decline TA on the high timeframe: 1) Support at 0.64863 plays an important role for us 2) The liquidity area is under intense attack from buyers. A break of 0.64888 - 0.6475 area will form a strong downside momentum TA on the low timeframe: 1) A descending triangle is forming. This setup can be interpreted as pressure from dynamic sellers on the limit support level that buyers, mainly whales and managers, have built up 2) Another retest and breakout of 0.64888 will form a strong momentum as this area is already tight liquidity area Key support📉: 0.64888 - 0.64750 Key resistance📈: triangle boundary, 0.65150
Short
by AndeWave
5
TRADING SYMMETRICAL⬇️⬆️🔄 ASCENDING📈 DESCENDING📉🔻⬇️TRIANGLES Hello traders, today we will delve into three types of triangles, which are significant chart patterns providing valuable insights into potential market movements. Understanding these patterns can play a pivotal role in making well-informed trading decisions. Let's explore each type and learn how to identify and interpret them effectively. **1. Symmetrical Triangle:** The symmetrical triangle pattern is formed by a series of lower highs and higher lows, resulting in converging trendlines. It indicates a period of market consolidation, where the price oscillates between lower highs and higher lows, signaling an imminent breakout in either direction. **Key Characteristics:** - **Shape:** Resembles a triangle, with converging trendlines. The horizontal resistance line connects the price highs, while the rising trendline connects the higher lows. - **Duration:** Can take several weeks or even months to form, depending on the time frame being analyzed. - **Volume:** As the symmetrical triangle develops, the trading volume tends to diminish. However, during the breakout, there may be an increase in volume, confirming the validity of the pattern. - **Breakout:** The pattern is confirmed once the price breaks decisively above the horizontal resistance line (bullish breakout) or below the rising trendline (bearish breakout). - **Price Target:** To estimate the potential price target after the breakout, measure the height of the triangle at its widest point (the distance between the highest high and lowest low within the triangle) and project it in the direction of the breakout. - **Stop Loss:** Traders typically place their stop-loss orders just outside the triangle, slightly beyond the opposite trendline from the direction of the breakout, to protect against false breakouts. Traders often enter a long (buy) position when the price breaks above the horizontal resistance line with a significant increase in volume or below the rising trendline in the case of a bearish breakout. **Limitations:** - **False Breakouts:** Sometimes, the price may briefly break above the resistance line or below the rising trendline, only to reverse in the opposite direction, causing a false breakout. Waiting for confirmation is crucial to avoid getting trapped in false signals - **Market Context:** While the symmetrical triangle indicates potential continuation, it's essential to consider the broader market context and use other technical indicators or fundamental analysis to support trading decisions. **2. Ascending Triangle:** The ascending triangle pattern is a bullish chart pattern that forms during an uptrend and represents a continuation pattern. It is formed by a horizontal resistance level and an upward-sloping trendline acting as support. This pattern suggests that buying pressure is gradually intensifying, and a breakout above the horizontal resistance may trigger a bullish move. **Key Characteristics:** - **Shape:** Resembles a triangle, where the horizontal resistance line connects two or more price highs, and the rising trendline connects higher lows. - **Duration:** The pattern can take several weeks or even months to form, depending on the time frame being analyzed. - **Volume:** Volume tends to diminish as the pattern develops. However, during the breakout, there is often an increase in volume, confirming the pattern's validity. - **Breakout:** The pattern is confirmed once the price breaks above the horizontal resistance line. The breakout is considered a bullish signal, suggesting that the upward trend is likely to continue. - **Price Target:** To estimate the potential price target after the breakout, measure the height of the triangle's base (the distance between the horizontal resistance line and the rising trendline) and project it upward from the breakout point. - **Stop Loss:** Traders typically place their stop-loss orders just below the rising trendline to protect against a false breakout. **Trading the ascending triangle:** - **Entry:** Traders often enter a long (buy) position when the price breaks above the horizontal resistance line with a surge in volume. - **Stop Loss:** The stop-loss level is usually set just below the rising trendline. - **Take Profit:** The take-profit level is determined using the measured move method by adding the height of the triangle's base to the breakout point. - **Confirmation:** It is crucial to wait for a clear breakout before entering the trade, as false breakouts can occur. A significant increase in volume during the breakout is often considered a strong confirmation signal. **Limitations:** - **False breakouts:** Sometimes, the price may break above the resistance line temporarily and then reverse lower, causing a false breakout. It is essential to wait for a clear confirmation. - **Market context:** While the ascending triangle is a bullish pattern, it's important to consider the broader market context and analyze other indicators to confirm the likelihood of the pattern leading to a successful trade. **3. Descending Triangle:** The descending triangle pattern is a bearish chart pattern that forms during a downtrend and represents a continuation pattern. It is formed by a horizontal support level and a downward-sloping trendline as resistance. This pattern indicates that selling pressure is progressively strengthening, and a breakdown below the horizontal support might lead to a bearish move. **Key Characteristics:** - **Shape:** Resembles a triangle, where the horizontal support line connects two or more price lows, and the downward-sloping trendline connects lower highs. - **Duration:** The pattern can take several weeks or even months to form, depending on the time frame being analyzed. - **Volume:** Volume tends to diminish as the pattern develops. However, during the breakdown, there is often an increase in volume, confirming the pattern's validity. - **Breakdown:** The pattern is confirmed once the price breaks below the horizontal support line. The breakdown is considered a bearish signal, suggesting that the downtrend is likely to continue. - **Price Target:** To estimate the potential price target after the breakdown, measure the height of the triangle's base (the distance between the horizontal support line and the downward-sloping trendline) and project it downward from the breakdown point. - **Stop Loss:** Traders typically place their stop-loss orders just above the downward-sloping trendline to protect against a false breakdown. **Trading the descending triangle:** - **Entry:** Traders often enter a short (sell) position when the price breaks below the horizontal support line with a surge in volume. - **Stop Loss:** The stop-loss level is usually set just above the downward-sloping trendline. - **Take Profit:** The take-profit level is determined using the measured move method by subtracting the height of the triangle's base from the breakdown point. - **Confirmation:** It is crucial to wait for a clear breakdown before entering the trade, as false breakdowns can occur. A significant increase in volume during the breakdown is often considered a strong confirmation signal. **Limitations:** - **False breakdowns:** Sometimes, the price may break below the support line temporarily and then reverse higher, causing a false breakdown . It is essential to wait for a clear confirmation. - **Market context:** While the descending triangle is a bearish pattern, it's important to consider the broader market context and analyze other indicators to confirm the likelihood of the pattern leading to a successful trade. **In conclusion, understanding these triangle patterns can provide valuable insights into potential market movements. Traders should use them as part of their technical analysis toolkit and combine them with other forms of analysis to make well-informed trading decisions. Happy trading! 📈💹** TCPLTP
Education
by TradeChartPatternsLikeThePros
2
CADCHF → Downtrend triangle on the background of a bearish trendFX:CADCHF under trend pressure is forming a setup to continue the trend and update the global lows. The currency pair is in the bearish phase. The price continues to decline and test the strong limit support line at 0.64990. A descending triangle pattern is forming on the chart, which can be interpreted as pressure from dynamic sellers on limit buyers at 0.64990. The price is within the descending price channel, a retest of the trend resistance each time sends the price to the indicated support - a strong signal for a breakout Moving averages act as resistance Support levels: 0.64990 Resistance levels: trend boundary, 0.65450 I expect a bounce from resistance, which will lead the price to another retest of support, which may help the price to breakout. Regards R. Linda!
Short
by RLinda
13
🥇GOLD - Can the market turn around? Or will it keep falling? Gold against the background of a bearish trend is forming a setup that could reverse the price direction. The bearish trend, with a small degree of probability can stop TA on the high timeframe: 1) Price forms a retest of 1902.87 after a month and a half. The price will not break the level from the first time, most likely a rebound may be formed 2) A sideways range may be formed when a rebound from support is formed. TA on the low timeframe: 1) A bearish channel is forming. 2) A descending wedge is formed against the background of the bearish channel. A retest of the figure support may push the price upwards 3) A retest of the figure's resistance may well break the local line and the price may form a surge to 1914 or 1930. Key support📉: 1902 Key resistance📈: downtrend line and 1914
OANDA:XAUUSD
by AndeWave
11
OCEANUSDT → A break of resistance will give a 30% increaseBINANCE:OCEANUSDT forms a bottom at 0.1208 and forms a false breakout. After formation of the formation, the price rallies and goes into consolidation in the triangle format After retesting the triangle resistance on July 22, the price forms a small correction after which the price forms a pre-breakout consolidation near the upper boundary of the formation. Altcoins have been showing positive dynamics lately and most likely the breakout of resistance at OCEAN will give excellent potential. While bitcoin is forming a correction and forming a local support area, the altcoin price is updating the local high and breaking the resistance. The price is testing MA-50 and may soon test MA-200 as resistance Support levels: 0.3335 Resistance levels: 0.3605 I expect the final breakout of the triangle resistance with the subsequent strengthening of the price to these levels. Regards R. Linda!
OLong
by RLinda
10