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Symmetrical Triangle

What's Next On APE (complete analysis)Interesting fact about the current APE situation here I give detailed analysis. First, Ape breakdown from the overall 70% Fibonacci retracement which is unlikely, then it went further to break the 100% Fib. retracement again this is very unusual considering how bullish the APE market was but it happened due the the overall catalyst (BTC, UST, LUNA). Now here comes the big question, are we done with the downtrend? Yes we are. How? On the right hand side you can see that a break of structure (BOS) occurred causing the manipulator, market monger, stop loss hunter (whatever name you give them) to take/provide liquidity, wait that's not enough, yea but I have more. On the chart you can see where I annotate HL(higher low) and LL(lower low) while the RSI indicator forms the opposite LL,HL which is a strong bullish divergence Now we have 2 scenarios the symmetrical triangle or the descending triangle. If the symmetrical triangle breaks down, you might want to watch out for the descending triangle before exiting the trade if you check my previous analysis on symmetrical triangle you will notice I mostly have 2-3 backup plan for it. Unless I see a divergence at the oversold region of the RSI or again some unfavourable fundamental news and of course possibly BTC dump, I am holding my long position on APE. Build your buy/long position in between the 0.78 Fib. retracement and 1.00 Fib. retracement price level and set your stop loss at $6.55 for mid - long term while for short term set stop loss at the breakdown of the symmetrical triangle to the especially if price closes below the 100% ret. level ($7.280). Have a suggestion? What do you think comment below, like and share also see t.me/dewycandles for records of profit bagged from our APE analysis.
Long
by DewyCandles
2
GAL/USDT - symmetrical triangle with up to 70% upside potentialGAL/USDT is currently consolidating inside a symmetrical triangle inching closer to a breakout and the current price action makes me fairly confident in a move to the upside. Since this is a new listing there's not a lot of price history to go off but with a current marketcap of $220 million only ranked at #232 on CoinMarketCap there's solid upside potential. First and main target of this trade is at around $8.50 which also marks the key resistance that needs to be broken in order to fully take off. Second target is between $11-$12, the level that the first bounce attempt got rejected at. If it gets rejected on the first attempt at the key resistance we can expect it to come down to the upper trend line of the symmetrical triangle for a re-test. This could provide a decent re-entry point but we'll have to wait and see how the chart comes along, make sure support holds before buying. Either buy the breakout of the symmetrical triangle (less risk in case of a pattern failure) or build a position while it's still forming the pattern (more profit potential at the cost of potentially getting stopped out in case the pattern breaks down). Consider using a stop loss slightly below the triangle so you don't get stuck if this setup gets invalidated. Best of luck and let me know what you think!
GLong
by Wolfy_
Ripple XRPUSD - Tripple support now! + Elliott Wave + Triangle- XRP is currently sitting on the tripple support support (Horizontal + Trendline + 0.618 FIB) on the weekly scale, which should provide a very good buying opportunity! - Also we have a symmetrical triangle that will break very soon. - Bearish volume is very low on the weekly chart as you can see. - Due to my Elliott wave count, we can be done with this pretty much disgusting wave 4 and continue higher to form a huge leading first wave diagonal! - Previous all time high resistance (from 2018) is next resistance. - If we measure a fibonacci retracement for this whole market structure - we are currently sitting on the 0.618 FIB! - Last weekly candle has a huge wick, which is a sign of rejection and trend reversal.
BITSTAMP:XRPUSDLong
by UnknownUnicorn2537518
17
EUR/JPY: bullish momentum to the upsideEuro/Yen Japanese it's look bullish in this side. Right now, we see that EUR/JPY made this break-out of this little symetrical triangle and then, we would need to hope a possible pull back at $134.28 JPY what it's recommend to add an alarm in that price $134.28 JPY to being informed when price hit the alarm. So, from this perspective I see a long position. This it's the H4 timeframe and we see a long position what EUR/JPY could to make reaction to $135.78 JPY And to watch, in Daily timeframe we have a key zone of demand in this yellow zone around $133 JPY with possible chance to go up. I hope that this analysis support you!!!
Long
by harisonhbn9718
4
BTC Short Term Movement AnalysisAs you can see from the last Bitcoin analysis the 30000 area broke and the price went down with selling pressure and bounced from 25300$. with the price action analysis, Bitcoin is forming a symmetric triangle on lower time frames and we will see a break of this structure soon. The resistance is the $30,500-$31,000 area and we will see a move towards $33,000-$34,000 if BTC breaks above the $31,000 level. A break below $29,000 is bearish and we might see again $27,000-$27,500 levels. Use tight stop loss in all trades. This analysis will be updated. 5/14/2022
by Trader_Needs
XRP/USDT : Two supports about to break! BINANCE:XRPUSDT Hello everyone 😃 Before we start to discuss, I'll be so glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it! $XRP has formed a symmetrical triangle in daily TF and now it's about to break below the lower trendline. Also, we have a support zone located here which has acted as a Demand zone recently and now; Both are following the fifth breakout attempt rule, And it can be our opportunity to locate our Short below the mentioned levels. In terms of that, There'll be two possible scenarios to take Short on : - Take Short on a proper retest of the broken trendline ( Symmetrical Triangle's lower ). - Take Short on a proper retest of the broken Support zone ( suggested ). So Based on data we have, The Trading setup should be like this Trading setup : 🔻 Entry Pointes : $0.5600 - $0.5400 - $0.5200 📍Targets : $0.4700 - $0.4100 - $0.3260 - $0.2055 🟥 Overall stop-loss : $0.6000 ( Active management ) Hope you enjoyed the content I created, You can support us with your likes and comments! Attention: this isn't financial advice we are just trying to help people with their vision. Have a good day! @Helical_Trades
Short
by Helical_Trades
23
Basic pattern charting shows clear path to $1M bitcoin Time and time again I have been told to master the basics and when it comes to trading nothing is more basic than charting triangles. Likewise, few things are more basic than cloning a trendline used to measure the height or depth of a move and dragging it over to the breakout point of whatever structure you are looking at. Just a tiny bit more advanced for targeting is using Fibonacci extensions to help with targeting with flagpoles. As the chart shows merely cloning the height of the flagpole from the C19 low to the flagpole high to an approximate break out point, which since we are looking at an ascending triangle remains the height of the flagpole itself, we get a target just over $1M. If the flagpole should be taken from the low of the ascending triangle that target would be the 1 line at about $485,000. I would not be surprised to see a major pull back at the 1 line and an even larger stall at the flagpole target. A zoom in of the triangles shows plenty of internal structure for all trading types. Break out traders could look to long the breakout of the triangle, support and resistance traders can likewise long and short as they see fit. Basic bullish trades could include Longing the support of the symmetrical triangle and taking profit at either the symmetrical triangle resistance or ascending triangle resistance Longing the breakout of either the symmetrical triangle or the ascending triangle Waiting for price action to retest either previous triangle resistances as support And of course there are bearish versions of these trade set ups if I am 180 degrees and 100% wrong. If I see either of my triangle supports get broken and then appear to be re-tested as resistance I will be eating a lot of humble pie as I flip my positions Likewise I see a massive ascending triangle on Total2. This is also very easy to trade technically with stops and fibs. Below is a draw with target setting on the height of the ascending triangle alone. Fundamentally over the next couple of years I seen a equity bear market with funds rotation into crypto. In other words I think the correlation between equities and crypto can finally break on account of the bullish structure in crypto and the bearish structures equities. this idea doesn't take any effort to look at indicators and divergences and the like. When you add those to the mix the argument gets even stronger. Please see a linked idea below for an indicator post looking at much the same structures.
COINBASE:BTCUSDLong
by This_Guhy
6