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Symmetrical Triangle

Terra Classic LUNC - Last wave before a dump! | Elliott Wave LUNC is now a very hot altcoin, but it looks like the uptrend will end very soon. If you want to buy LUNC, then wait for a pullback, at least to the start of wave 4. As per my Elliott Wave analysis, this huge impulse wave is pretty much done because we are in the last fifth sub-wave. As you can see on the chart, wave 2 was a triangle. You may say that wave 2 cannot be a triangle because it's on the public internet as a rule. But this information is incorrect. Wave 2 can be a triangle, wave 3 can be an impulsive diagonal, and sometimes wave 3 can be the shortest wave, believe it or not. I think LUNC will go much higher, but first we should have a correction that can last a few weeks or months. Elliott Wave theory is a very powerful technique when volatility is high. On the other side, when the market is going sideways, it's losing its power. For more analysis, please hit "Like" and "Follow"!
by UnknownUnicorn2537518
98
TKN | Wave Analysis | Possible Upcoming Impulse 3-Wave ForecastPrice action and chart pattern trading setup > Wave pattern: 2-Wave Triangle ABCDE - possible upcoming wave E before rising impulse 3 wave. > Entry: Support level SMMA50 and SMMA20 @ 0.618 and 0.786 retracement zone > Target: 3 -wave triangle breakout plus distance of the triangle channel 1.272 extension zone of main 1-wave +15-20% > Stoploss: Lower triangle support zone -7-8% > Risk reward ratio: 3:1 Always trade with affordable risk and respect your stoploss
SET:TKNLong
by dukeposh
SOLANA PERSONAL ANALYSIS IN THE LONG TERM (EVENTUAL REJECTION!)The total evaluation for the Solana asset is bearish. Please be mindful that such price movements are subject towards closely to the US Indexes as well as any other major fundamentals in the economy. The SP500 and the NASDAQ are very close to their monthly resistances trendline and have a huge potential to breakdown even further. We can only push as far as 45$ in this degree with BTC having a maximum push towards 24,200$ -- no more than that I'm afraid. If for example we did have prices above 24,200 -- this is supported with low volume and bearish divergences which cannot be maintained overtime. My suggestion and recommendation is to long for the short term only to consider short ultimately at a respectable end. I see a macro-consolidation for Solana with continuous lower highs and higher lows, risk management is crucial. ---------------- You like the chart? If so, boost it, comment on it, share it with your friends, bookmark it, its completely yours for freee! :D
FTX:SOLPERPLong
by Wamses
1
Cardano ADA - The worst altcoin! When next crash? You cannot make money on ADA at this moment, because the downtrend is extremely strong and it's going to be even worse later this year!  Don't get me wrong, I think ADA is a great altcoin, but if you bought the top, you are too late for the party.  The market structure is insanely bearish and we have a descending triangle on the daily chart that will break down with a high probability. ADA is going sideways from May 2022, and the buyers are simply not here at this moment. The price is making lower highs and now the price is being compressed in this triangle formation.  Also, we have a massive broadening wedge, so you might want to wait for a breakout before enetering a long position, or you can catch the falling knife exactly at my support level, as you can see on the chart. My Elliott Wave analysis suggests we have an incomplete ABC structure and we should expect 2 more impulsive waves downward, so another 63% crash is definitely possible!  The bears are in power and I would not play with them at all cost. For more analysis, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
65
Shiba Inu - Fake breakout! 60% crash soon | Elliott Wave We are in the middle of the crypto bear market. Altcoins like SHIB, ADA, XRP, SOL, DOT, and LINK are going to crash hard. You really don't want to buy these coins at this moment.  I think Shiba doesn't deserve to be ranked at #13 on Coinmarketcap with this terrible price action. Yes, we had a massive pump that lasted only 30 days in 2021, but now we've been bleeding for 320 days.  On the daily chart, we have a descending parallel channel on the LOG scale with a fake breakout. It was a trap, and there were clearly missing buyers on this token. The token is still so expensive that buyers are not interested. The price should go down to the previous swing low at 0.00000510, which is an extremely strong support and potential buying opportunity. I would like to see a bullish divergence on the weekly timeframe, and this divergence will definitely be created if we drop down to 0.00000510. From the Elliott Wave perspective, we need another impulse to the downside to complete a major impulsive wave, so I think we have already started the downtrend. Maybe Shiba is a great altcoin, but it is very overpriced and expensive. Definitely not a good investment at this time. For more analysis, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
62
✅Bitcoin - You haven't seen this before! New triangle + wedge Everyone is extremely bullish right now and is saying the bottom is in. But I am still very sceptical. We are having a relief uptrend as predicted in my last analysis. The downtrend is really strong and there is absolutely no sign of a trend reversal at this moment! As you can see on the weekly chart, we have an incomplete falling wedge pattern and clearly there is still a lot of price action missing. It looks like we are creating a trading range on the daily chart. Something like a symmetrical or descending triangle. Regarding my Elliott Wave analysis, I think we can create some kind of triangular formation before continuing lower. The question is, how much lower can we go? We have a gap at 12 500 USDT, which is a reasonable target and the one and only one support on this particular chart. We can use a fibonacci extension from wave 3 to wave 4, but it's still too early because we don't know if wave 4 was completed or not. If the trading range is confirmed, then altcoins can moon during this phase and Bitcoin's dominance should continue in the downtrend. For more analysis, hit "Like" and "Follow"!
by UnknownUnicorn2537518
66
Directional Traders Beware of SPX Chop AheadPrimary Chart: SPX Symmetrical Triangle Suggests More Chop Lies Ahead Larger-Degree Symmetrical Triangle Suggests More Chop Looms Ahead in September 2022 SPX has formed a larger-degree symmetrical triangle on the daily time frame. This is shown on the Primary Chart above. The triangle is valid because it is composed of a series of at least two or more rallies and declines lower. The two major rallies that touched the higher trendline ended on March 29, 2022 and August 16, 2022. The higher trendline connects as well with the January 4, 2022, high at 4818.62 SPX. The higher trendline of the triangle is essentially the downtrend line for this entire bear market that started at SPX's all-time high on January 4, 2022. And the lower trendline has been touched five times, starting at the June 17, 2022, low. A triangle is essentially a consolidation pattern. This is why chop may be in store for SPX in the weeks ahead as the apex of the triangle nears the price. Note how price founds support this week at the triangle's lower trendline (an upward trendline) after a vicious selloff that started at the August 16, 2022 peak. Symmetrical triangles are also called coils because price and volume contract as the price range narrows as the pattern progresses. Price has clearly contracted because price has been contained within the triangle's converging trendlines. Volume has also contracted somewhat since the lower trendline of the triangle began to form at the June 17, 2022 lows. (Volume is not shown on the primary chart above.) If the lower trendline is broken, price will likely begin a substantial directional move. A measuring objective for a symmetrical triangle takes the maximum distance of the triangle at the June 17 low and projects that from the breakout point. But note that a backtest often occurs to wipe out any traders who jumped into positions on the breakout. VWAP and Gap Area Could Draw Price Back into Triangle Next Two Weeks The YTD anchored VWAP lies at 4217 SPX. This VWAP currently sits right in the center of a major gap from August 19-20, 2022. Price could be drawn into the triangle again for an attempt at this gap file and retest of the VWAP. This is not necessarily a high-probability target given that daily trends have turned down, but it is a plausible target with a rational explanation, especially since price stopped falling right at the lower trendline of the triangle last week. SPX Resistance and Support Levels to Watch This Week Key levels of resistance and support are shown on the supplementary chart below. For tomorrow, SPX will need to move above 3941 and eventually 3980 and 4000 for a move back to the center of the triangle to be sustained. The center of the triangle lies right near the head and shoulders neckline (see linked post on SPX H&S pattern where SPX broke down on August 26, 2022. This head-and-shoulders neckline at 4125-4130 also represents an area of resistance and a plausible target for SPX to rally to before resuming any decline. If the upward trendline that is the lower edge of the triangle breaks, then the outlook becomes more immediately bearish, though a whipsaw move may be expected in this very tricky market. The lower edge of the triangle lies at 3915-3925 over the next several days. This is a major level to continue to watch. Coinciding with this upward trendline (lower edge of triangle) are key Fibonacci levels at 3870, 3899, and 3941. Supplementary Chart A: Key Levels of Resistance and Support for the Next Two Weeks Short-Term Targets to the Upside and Longer-Term Targets to the Downside Ichimoku Cloud support also aligns with these support levels identified. Because of such strong support coming in around 3870-3925, from Fibonacci, up trendline at the lower edge of a larger triangle, and Ichimoku cloud, my forecast is that price likely bounces into mid-September 2022. Conservative upside targets = 3997-4003 and 4023 and 4062. Each target will become more likely if the lower target just beneath it can be met and held first. Supplementary Chart B: Key Ichimoku Cloud Support at 3921 Supplementary Chart C: Key Ichimoku Resistance at Kijun Line (Blue) at 4003 While this post leans cautiously long in the very short term, in the longer-term, this post suggests that the bear market will likely continue given the macroeconomic environment and the Federal Reserves continued policy of tightening financial conditions . The lower trendline of the triangle may break to the downside later this year in October or November 2021. Or perhaps a breakout to the upside occurs to fake out market participants before another major move lower—this type of price action can occur with symmetrical-triangle consolidations. SPX 3870 and 3721 (July 14 low) both are likely targets for SPX price in the coming months, though no prediction about when price reaches these targets is made. It also helps to keep an eye on interest rates and whether they continue holding their own upward trendline, and whether they chop or continue exploding higher. Supplementary Chart D: Interest Rates Represented by TNX (10-year yield) Author's Comment: Thank you for reviewing this post and considering its charts and analysis. The author welcomes comments, discussion and debate (respectfully presented) in the comment section. Shared charts are especially helpful to support any opposing or alternative view. This article is intended to present an unbiased, technical view of the security or tradable risk asset discussed. DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified financial adviser or other investment / financial professional before entering any trade, investment or other transaction. SP:SPX TVC:SPX OANDA:SPX500USD EIGHTCAP:SPX500 CME_MINI:ES1! BLACKBULL:SPX500 VANTAGE:SP500 AMEX:SPY
SP:SPX
by SquishTrade
11
Quant testing the top trendline of the 1day symmetrical triangleWe can see that priceaction is currently attempting to both test the top trendline of the symmetrical triangle (in chartreuse) as well as trying to climb back above the 1 day 50ma(in orange). If price action can flip the 1 day 50ma back to solidified support then it can validate the bullish breakout from this symmetrical triangle. The breakout target from that symmetrical triangle will take price action far above this white line which is actually the neckline of an even bigger inverse head and shoulders pattern. If we are to hit 100% of the breakout target for the triangle ($165), this will greatly increase the probability of it also triggering the breakout of the inverse head and shoulders pattern as well which can send it considerably higher afterwards($224). Of course for now the 1 day 50ma is still resistance so we want to see a couple daily candle closes above that and any confirmation candles after that that retest it, testing it as strong support. Flipping tat 1day 50ma back to strong support will also confirm that the golden cross that recently happened will be sustained instead of flipping back into a deathcross and confirming a golden cross fake out. *not financial advice*
COINBASE:QNTUSDLong
by DrDovetail
1
Ethereum ETHBTC - New all time high this year! Then a big crash? Ethereum is much stronger than Bitcoin and this trend should continue until we hit the major resistance from 2017, which is approximately another 85% upwards.  As you can see on the chart, this whole market structure looks like an ascending triangle. This triangle should break downwards, if we don't want ETH to flip BTC on coinmarketcap.  Keep in mind that ETHBTC does not belong to a trending market. It's more like an oscillator. You can compare this pair to the EURUSD forex pair. So, forex strategies should work much better on this particular ETHBTC pair. According to my Elliott Wave analysis, we are currently in the final 5th impulsive wave of the bigger impulsive wave. Bitcoin's dominance is breaking down the key market structure, which, of course, greatly favors ETH. Look at my ideas about interesting altcoins in the related section down below. For more analysis, please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
52
As policies continue to diverge…For readers who have been following us right from our first ever TradingView idea, you’ll recall our first ever trade idea on long USDCNH. It’s been a fun 5 months writing and sharing our thoughts with the community. Much has happened since April, but two critical things stayed the same. The US Federal Reserve remains hawkish, raising rates, while the PBoC remains dovish, continuing with its easing stance. The result? USDCNH trading beyond the 6.9 level, surpassing both our target levels. With the next Federal Reserve meeting coming up, we think it’s time to review this idea again. The CME FedWatch Tool allows us to gauge what market participants are expecting the Fed to do. The prevalent consensus seems to be that the Fed is likely to raise rates till the end of the year before holding rates at the 3.75 – 4.00 % level for the next year. On the other hand, the PBoC has continued to ease, cutting reserve requirement ratios & lowering its medium-term lending facility. With China still battling Covid via lockdowns, persistently low inflation numbers, and weak economic numbers, we see further easing on the cards from PBoC. Looking at the charts, the USDCNH pair has just completed a symmetrical triangle chart pattern. After breaking out to the upside and a brief pull-back, prices continued upwards with strong momentum. Using classical charting techniques, the target levels for the breakout can be set to the distance of the high and low of the symmetrical triangle and applied to the top of the triangle. With the target price of 7.1180, there is still upside for this trade. It seems that policy divergence will remain for these two major economies, which is likely to strengthen the USD and weaken the CNH further, driving up the USDCNH pair. Using technical to identify target levels where we will be comfortable, we think that there is room for more upside. Entry at 6.9500, stop at 6.8545. Target at 7.1180. The charts above were generated using CME’s Real-Time data available on TradingView. Inspirante Trading Solutions is subscribed to both TradingView Premium and CME Real-time Market Data which allows us to identify trading set-ups in real-time and express our market opinions. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com Disclaimer: The contents in this Idea are intended for information purpose only and do not constitute investment recommendation or advice. Nor are they used to promote any specific products or services. They serve as an integral part of a case study to demonstrate fundamental concepts in risk management under given market scenarios. Reference: www.cmegroup.com
CME:CNH1!Long
by inspirante
9
[09/06] Beast Trading _ Today's Bitcoin Analysis Beast Trading _ Today's Bitcoin Analysis On an hour-long basis, Ethereum and Bitcoin do not appear to deviate to one side from their respective patterns. However, the fluctuation is starting to increase due to the Ethereum merge issue In general, I felt that Ethereum was leading Bitcoin in recent movements. In the same upward line, the difference in the increase (buying tax) was also evident, and I think Bitcoin's market dominance may have decreased a little. First of all, on the chart, Bitcoin has dropped sharply since today's shooting, spitting out all of its gains, and it is now close to the bottom line of convergence. Due to the relatively large scale of the convergence, deviating from the bottom line can be accompanied by a large additional drop. (On the contrary, breaking through the top line may be accompanied by a large additional rise) Ethereum continues to rise due to the influence of the merge issue. The third picture I uploaded is the Ethereum 5 minute candle, which you can check with the short-term upward trend line. Before you leave that line, you need to be careful about the Ethereum short position. Since NASDAQ is also opening today, the fluctuation is likely to be large starting from now. Let's stick to our own trading principles so that we don't get confused trading!
by BeastTrading_Sehyun
3
CHZ formed a Symmetrical Triangle!!!Now, as the chart has formed a Symmetrical Triangle in a uptrend doesnt mean it should go upside, cause the Daily frame and Weekly frame chart doesnt indicate any signs for a bullish movement. So as I have marked the support level "of the Symmetrical Triangle" and the "4H Support Level" . If the price continues to break the "Support level of the Symmetrical Triangle" and close near to my entry price, I would enter for a short position with 2 Take Profits. You can follow this Trading Setup ⚠️NOT A FINANCIAL ADVICE!
Short
by Vickrant_S
1
NIFTY ENERGY - Just a view Key highlights: 💡⚡ 📊 Currently NIFTYENERGY is giving breakout of Symmetrical triangle. 📊 and 29304 is its resistance level we can see rally of around 1000 point. 📊 but into RSI level 72 is working as resistance level twice. 📊 Keep an eye on both things RSI as well as price movement. 📊 One can go for long into ENERGY SECTOR. 📊 Example : ADANIGREEN , ADANITRANS , ONGC. ⚠️ Important: Always maintain your Risk & Reward Ratio. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat 🔁 Happy learning with trading. Cheers!🥂 Happy Ganesh Chaturthi, ❤️🙏🏻 we wish that all hindrances and hurdles are cleared for you. Michhami Dukkadam 🙏🏻 Michhami Dukkadam is all about Forgiveness and Kindness!
NSE:CNXENERGYLong
by radha_23
4