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Symmetrical Triangle

SUSHIUSDT → Resistance breakout. Expect momentum BINANCE:SUSHIUSDT is forming a bearish wedge and after retesting the global bottom, the price starts to strengthen, breaking the resistance of the pattern A symmetrical triangle has been forming for the last few weeks, within which the potential is accumulating. Within the forming figure, the price is breaking the resistance of the global wedge, but is still trapped under the triangle resistance. Most likely, when breaking the symmetrical triangle resistance, the coin can show an excellent bullish momentum. The market is waiting for activity from bitcoin, but it has reduced its volatility to a minimum, showing little reaction over the past few weeks only yesterday when the market bought back the decline and altcoins reacted accordingly. The SUSHI bulls may prove themselves in the near future Support levels: 0.637, previously broken wedge resistance Resistance levels: Triangle resistance, 0.827 I expect consolidation above the wedge and retest of the triangle resistance with the subsequent breakout and growth towards these levels. Regards R. Linda!
Long
by RLinda
15
USDCHF → The dollar may strengthen the currency pair FX:USDCHF pinches the local bottom at 0.85797 and makes a false breakdown, which realizes the countertrend potential at the moment of dollar strengthening. The price strengthens to 0.87779 and forms a setup that can continue the price growth The bearish trend is still valid on the chart. The price is trading under the descending resistance. Pay attention to the dollar index, the price is forming resistance at 102.5 relative to the dynamic buyer. A breakout of this level by the dollar will form momentum in the forex market as well. I expect a breakout of the symmetrical triangle resistance and active strengthening of the price against the trend. Support levels: 0.87000 Resistance levels: 0.87779 I think that following the strengthening of the dollar the USDCHF currency pair will start to strengthen and in the medium term the price may reach 0.89088. Regards R. Linda!
Long
by RLinda
12
💱USDCHF - Symmetrical triangle may continue to grow USDCHF is forming a local bullish trend. Globally - correction. A pattern is forming between the liquidity areas, the breakout of resistance of which can form a rapid rise TA on the high timeframe: 1) A correction is formed after the breakout of 0.8860 level. The growth will continue to the resistance 2) A bullish liquidity area is forming at the bottom, the price is being pushed upz TA on the low timeframe: 1) A symmetrical triangle is formed on the background of a local bullish trend 2) The price bounces off the support and retests the resistance. 3) There is a high chance that the breakout will take place. In this case I will wait for the growth to 0.89157. Key support: the lower boundary of the triangle, 0.8700. Key resistance: 0.87779
Long
by AndeWave
11
EURUSD - Huge uptrend is ready! (prepare longs) EURUSD is still extremely bullish because the price is above the 200-day daily moving average and also above the major white trendline. Trend is your friend, so we want to take only longs! The price is also inside this ascending parallel channel, and I expect another push to the upside to test the upward trendline of the channel. It's possible to bull-break this channel! In the last 2 weeks, EURUSD has been going down, but it's just a re-test of the previous 2 trendlines. We needed this pullback for continuation to the upside. The retest was a great buying opportunity, but of course you can still enter the market at the current price if you find a good setup on lower timeframes. 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. When trading EURUSD, we need to consider the DXY index. This index is pretty bearish, and I will probably do an analysis on it as well, so make sure you follow me for more updates! The MACD indicator tells us that the trend is rolling over from bearish to bullish again. The histogram is ticking to the upside, which is of course a bullish sign. In conclusion, I am bullish on the euro, and I would take only longs for the next few weeks! Thank you, and for more ideas, hit "Like" and "Follow"! I post ideas mainly on BTC, so if you want more EURUSD ideas, support with like and comment, so I know I should continue!
Long
by UnknownUnicorn2537518
71
Ethereum -> Last Bounce Before A Strong MoveHello Traders and Investors , my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Ethereum 💪 If we are looking at the macro view on the monthly timeframe you can see that Ethereum perfectly retested the 0.768 fibonacci level in confluence with the previous cycle high so everything looks like we are starting the next major bullish crypto cycle. With Ethereum once again retesting the weekly bullish trendline and also forming a continuation symmetrical triangle pattern I am just waiting for a bullish breakout before I then do expect more upside potential. Looking at the daily timeframe you can see that Ethereum is once again retesting support at the $1825 level - I am therefore waiting for another bullish rejection and a break above the daily downtrendline and then also the daily timeframe is ready for a pump. Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint📈 Thank you for watching and I will see you tomorrow! My previous analysis of this asset:
BITSTAMP:ETHUSDLong
by basictradingtv
25
USDCAD → Range breakout. Realization of consolidation FX:USDCAD has been forming a bearish price channel for a long time. For the last few days, the price has been forming a symmetrical triangle, which is forming an attempt to change trend The price is moving out of the range on August 2. The impulse is formed on the background of strengthening of the dollar index and the price is testing 1.3370. Today such news are published as: 1) NonFarm Payrolls (Expected to decline) 2) Unemployment Rate (expected to decrease). Expectations of the news were not met earlier, the indicators are quite positive for the dollar index, which indicates a stronger economy even as fitch downgraded the US credit rating from AAA to AA+, but this does not say much in the current realities. The USDCAD currency pair is consolidating in the range of 1.3370 - 1.3320, with another retest of resistance, the level may be broken, but if the price starts a correction, it may head towards the channel boundary. Support levels: 1.3320 Resistance levels: 1.3370 I expect that on the background of strengthening of the dollar the price may break the resistance and form a movement to 1.3565, but there is a chance of correction formation. Regards R. Linda!
Long
by RLinda
18
LTC: LONG TERM VIEW! BEST BUYING ZONE!!Hello everyone, if you like the idea, do not forget to support it with a like and follow. Welcome to the new LTC update. Today is LTC's halving and this might be the sell-the-news event. According to the chart, it is forming a symmetrical triangle in the weekly time frame and rejecting the resistance zone of $100-$120. I'm expecting it to drop more from here. IMO, the best buying area for LTC is around the $60-$70 level. We have support here and also here the lower line of the symmetrical triangle lies. Once it breaks out from this symmetrical triangle a new bullish rally starts for LTC and do not expect this before a proper bull run. Hope this chart helps you. If you like this idea then do support it with like and follow. Also, share your views in the comment section. Thank You!
by CoreCrypto1
2
Ethereum -> Consolidation Before Pump?Hello Traders and Investors , my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Ethereum 💪 If we are looking at the macro view on the monthly timeframe you can see that Ethereum perfectly retested the 0.768 fibonacci level in confluence with the previous cycle high so everything looks like we are starting the next major bullish crypto cycle. Looking at the weekly symmetrical triangle which is usually a continuation pattern I am now just waiting for a bullish breakout and then we are heading for new highs in 2024. The daily timeframe on Ethereum though is pretty slow recently and this is certainly not the time for us as traders to enter stupid positions so I am simply waiting for volatility to come back and then I am looking for longs on Ethereum again. Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint 📈 Thank you for watching and I will see you tomorrow! My previous analysis of this asset:
BITSTAMP:ETHUSDLong
by basictradingtv
15
💱CADJPY - We expect resistance retest CADJPY is forming a narrowing range. The outline of a triangle is being formed. The global trend is bullish and prioritizing price may break resistance TA on the high timeframe: 1) 109-104 range is forming. False break of 104 sends price to 109 2) The liquidity area that the market is interested in is above 107.8, most likely price can reach this area TA on the low timeframe: 1) Downside resistance and upside support is forming a narrowing consolidation that is beginning to form a symmetrical triangle. 2) Globally, the forces are tipped towards the buyers, hence the market under trend pressure may break the market resistance. 3) A rebound from support is formed and the market is directed towards 107-107.6 4) We are waiting for growth to the resistance as a priority Key support: 105.85 Key resistance: 107, 107.6
Long
by AndeWave
6
Avery Dennison Corporation WCA - Symmetrical Triangle Company: Avery Dennison Corporation Ticker: AVY Exchange: NYSE Sector: Industrials Introduction: In our analysis today, we're looking at Avery Dennison Corporation (AVY) on the NYSE, an industrial sector company. The weekly chart displays a potential bullish reversal in the form of a Symmetrical Triangle pattern that has been developing over the past 58 weeks. Symmetrical Triangle Pattern: The Symmetrical Triangle pattern usually indicates indecision. In this scenario, it seems to be acting as a reversal pattern from a previous downward trend Analysis: Avery Dennison's previous trend was downward, demonstrated by the diagonal blue resistance line. However, this trend appears to be interrupted by a consolidation phase shaped like a Symmetrical Triangle, suggesting a potential reversal. This triangle pattern has 2 touchpoints on both the upper and lower boundaries. The 200 EMA is acting as support in this case, and the price is holding above it, indicating a bullish environment. A breakout above the diagonal resistance would signal a potential long setup. Should this breakout occur, we could anticipate a price increase of approximately 29%. Until such a breakout, Avery Dennison remains a candidate for watchlist monitoring. Conclusion: Avery Dennison's weekly chart presents a potential bullish reversal scenario, signaled by the Symmetrical Triangle pattern. This pattern, if confirmed by a breakout above the diagonal resistance, could provide an attractive long trading opportunity. --------------------------------------------------------------------------------------------------------------------- Remember, this analysis should be part of a broader market research and risk management strategy and is not intended as direct trading advice. If you found this analysis beneficial, please consider liking, sharing, and following for more insights. Best of luck with your trading! Best regards, Karim Subhieh Disclaimer: This analysis is not financial advice and is meant for educational purposes only. Always do your own research and consult with a financial advisor before making any investment decisions.
NYSE:AVY
by KarimSubhieh
6
DTE Energy WCA - Symmetrical TriangleCompany: DTE Energy Company Ticker: DTE Exchange: NYSE Sector: Utilities Introduction: In today's analysis, we are examining DTE Energy Company (DTE) on the NYSE, a key player in the utilities sector. The weekly chart reveals a potential bullish reversal in the form of a Symmetrical Triangle pattern that has been forming over the past 42 weeks. Symmetrical Triangle Pattern: The Symmetrical Triangle pattern is typically a sign of indecision - a battle between the bears and the bulls. However, in this instance, it seems to be acting as a reversal pattern after a downward trend. Analysis: The previous trend for DTE Energy was downward, but this seems to have been interrupted by the symmetrical triangle pattern, suggesting a potential reversal. The triangle has 2 points of contact with both the lower and upper diagonal boundaries. The price is currently above the 200 EMA, indicating a bullish environment. Furthermore, we've recently observed a breakout above the upper diagonal boundary, which would support a long entry. The price target following a successful breakout is set at 137.43, representing an estimated increase of 21.63%. However, a minor resistance could be encountered at around the 138 level. Conclusion: DTE Energy's weekly chart presents an encouraging bullish reversal setup. If confirmed by sustained price action above the triangle's upper boundary, this could provide a compelling long trading opportunity. It's important to monitor the potential resistance at 138, as it could affect the continuation of the bullish trend. -------------------------------------------------------------------------------------------------------------------- Please remember, this analysis should form part of your comprehensive market research and risk management strategy, and it is not direct trading advice. If you found this analysis helpful, please consider liking, sharing, and following for more insights. Wishing you successful trading! Best regards, Karim Subhieh Disclaimer: This analysis is not financial advice and is intended for educational purposes only. Always conduct your own research and consult with a financial advisor before making investment decisions.
NYSE:DTELong
by KarimSubhieh
💱GBPJPY - The price is squeezed in a range. Possible decline GBPJPY is forming a symmetrical triangle. The price is testing the resistance and falling (rebound). Another retest may not yield results and the price within the triangle may head towards 179.77 TA on the high timeframe: 1) The trend has stopped and the price is forming a sideways flat pattern 2) False breakout and consolidation below the liquidity area gives a chance to fall to 180.00. TA on the low timeframe: 1) A retest of pattern resistance is forming. Price from the upper line may head down. 2) Price has potential and local target within the pattern - lower area and 180.00 zone 3) But! If the fundamental component changes, the price in the format of the resistance retest can break it and continue the trend aimed at strengthening of the currency pair. Key support📉: 180.75, 179.77 Key resistance📈: 182.17, 182.52
Short
by AndeWave
8
4hr bull pennant on xrpusdI normally don’t put too much faith in 4 hour timeframe chart patterns, however should this 4 hour chart bull pennant hold up the bullish breakout target is around $1.10 . As of now it does look like it’s about to break upward, however being a smaller time frame like the 4hr chart there is still a chance this could be a fakeout and the real chart pattern is much bigger and needs to be charted on a higher timeframe. For now at least this looks good. *not financial advice*
BITSTAMP:XRPUSD
by DrDovetail
💱NZDJPY - Symmetrical triangle in reversal set-upNZDJPY is forming a symmetrical triangle on the background that D1 is in the phase of forming a head and shoulders reversal set-up. TA on the high timeframe: 1) A head and shoulders is forming against support at 87.140 and resistance at 88.56. A strong enough pattern for a market reversal. 2) But! Consolidation is forming, which may send the price to 89.00 TA on the low timeframe: 1) A symmetrical triangle has been forming for the past two weeks. 2) The price cannot approach the support retest, because the liquidity at the bottom does not allow it. 3) The price is heading for the resistance retest. Two scenarios are possible. 4) The price can break through the resistance and form an impulse. Or a false breakout will be formed, consolidation below the resistance will give an entry point Key support: 86.700 Key resistance: 87.888
by AndeWave
11
Bitcoin - Secret pattern no one talks about! (insider info) This secret parallel channel on the LOG scale is very important for your trades because you want to take profits if the price reaches the top of the descending channel! This is a dynamic resistance, so the trendline changes over time, but currently the resistance is around 39K. 39K is a strong level not only because of this channel but also because of the 0.618 FIB retracement of the previous huge downtrend and the POC of the previous market structure (volume profile). 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! What I expect is for Bitcoin to reach the 39K level and then make a significant correction. This correction should be pretty deep. Because we will be retracing the first Elliott impulse wave, the 0.618 FIB is a classic buy opportunity, and it's around 21k. After we reach 21K, I expect Bitcoin to pump heavily to the 69K all-time high resistance. This is indeed a strong level as well, so this could be the peak of the 3rd Elliott impulse wave. The 5th wave is expected to end around 100k–110k in 2025. This is my gameplan; I don't know what yours is, so let me know in the comment section right now! Set up notifications for my ideas so you will be alerted in your email when I publish new analyses immediately! You may say that 110k is not enough and that Bitcoin should do much more than that. Yeah, I agree with you, but we need to be realistic. Bitcoin is already pretty big and has a large market capitalization. What's more, on the chart, you can see the major parallel channel on the LOG scale that started in 2017, and I don't think the bulls want to make some crazy parabolic move above this channel! Thank you, and for more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
99