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Trianglepattren

VOLTAS - ALL TIME HIGH LEVEL - Investment/Trade opportunityThe stock price is trying to come out of a 7 months consolidation period. It appears to be ready for next leg of rally. The analysis is done on daily TF hence price may take few days to few weeks in order to reach the targets. Trade setup is explained in image itself. Another way to analyze such formation is shown in the below image - do check it out as well. VOLTAS can be a good bet for medium to long term investment as well. The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade. Checkout my other ideas to understand how one can earn from stock markets with simple trade setups. Feel Free to connect with me on any of my handles for any query or suggestion regarding this stock or Price Action Analysis.
NSE:VOLTASLong
by AdityaKarn90
1
Long FBEntry price: 369-375$ Target price: 408$ Stop loss: 365-369$ Keltner Channel: the price is inside of the channel, approaching the upper boundary. Chart pattern: symmetrical triangle DMI: +DI line crossed -DI line from the below. Moreover, the intersection moment appeared above the ADX line what might suggest the bullish momentum of the price. Conclusions: The price broke the upper boundary of the triangle pattern, however there is no volume increase at the moment. Thus, long position is recommended after the price correction above the pattern with the entry price on the new support level.
NASDAQ:METALong
by vf_investment
XRPUSDT: triangle pattern broke to the upside, LONG OPPORTUNITY?XRP price today is $0.718515 USD, down 3.32% in the last 24 hours, with a 24-hour trading volume of $2,449,258,622 USD. On daily chart we can see how the descending triangle pattern started forming in May just broke to the upside testing the first resistance level at $0.78, where it got rejected. Now a pullback retesting the previous support at ~$0.66 is expected, and this can be a good entry opportunity for long trading. Following the triangle pattern , the aimed target should be $ 1.17, but personally I don't believe it would reach it in the short term, therefore I would set many "taking profits" at the previous resistance levels. RSI on daily chart is decreasing and is now headed to test the previous resistance identified at 46.6 level This is the reason I believe price will suffer a pullback up to $ 0.66 level, before rising again, range which corresponds also the the EMA of Keltner channel (on daily chart ). If this will happen, this can be considered a confirmation for going long as historically, whenever price broken the upper level of the channel immediately a pushback happened to the EMA level before retesting the upper boundary. MACD still looks bullish on daily time frame and Keltner channel is becoming thinner and thinner, a sign that volatility is decreasing. This usually happens before a big move to the upside. TRADING POSITION: Long ENTRY PRICE: < 0.66 TARGETS: 0.77 / 0.84 / 0.87 / 0.95 / 1. 01 / 1.08 STOP LOSS: $ 0.58 TARGETED PROFITS ARE HIGHLIGHTED IN THE GRAPH While on daily chart the price looks bullish , on 4h chart we can see how MACD is under the trendline, price therefore is under the EMA of the Keltner channel and is now decreasing headed to test the lower boundary of it, this corresponding to the spotted entry price. Therefore, 4h chart allows us to understand with more certainty that price will suffer a decrease before our long targets being reached. Moreover the lower boundary of the channel on 4h time frame corresponds to the EMA on daily time frame, a possible confirmation that price won't go under that level. Let's see if XRP will perform as expected. For more ideas like these, please follow us on our social medias as well!
Long
by Lari_Pen