[Evolution] 2019 is not 2018: two triangle with opposite target!
Here is a larger view compared to my previous idea (see related link under this description):
The idea here is to show the difference between the great descending triangle that imposed its law in 2018
and the ascending triangle being formed!
THE DESCENDING TRIANGLE OF 2018:
The first, the descendant, is constituted like the isosceles triangle of a bearish line BUT also of a horizontal line and not bullish as on the isosceles.
This line of horizontal resistance - in force until November 14, 2018 - does not have as much force as the resistant bearish line, it is the latter which ends up pushing the value to the fall at the exit of triangle.
It was therefore a continuation pattern, that is to say, it was an intermediate phase in the evolution of a value that reinforced the Bearish tendency of early 2018.
Each line in the triangle must be confirmed by at least three points.
The volumes must decrease with time, the more we advance in the triangle, the more the volumes become weak, which was the case.
The volumes must regain momentum at the triangle exit to validate the target, which was also the case from 11-14-2018.
The target is calculated in the same way as for the isosceles triangle (see methodology in my previous related idea).
THE ASCENDING TRIANGLE OF 2019:
All the interest of this idea is to show how much the big triangle in progress is fundamentally different from the big triangle of 2018!
Now, the target price range is calculated as on the previous descending triangle : on the 3rd impact on the down line as I have shown on the graph. BUT with an opposite direction, this time up!
However, no bullish runaway, please! The target amplitude is of course proportional to the size of the triangle that generates it!
In other words, the descending triangle (2018) was very large: the resulting dump on 11-14-2018 was therefore in his image, important!
Conversely, the ascending triangle in progress is tightened: the pump that I therefore envisage if the volumes follow will be in the image of the latter, of low importance: ~ $ 5000 (~ September, 2019) !
DISCLAIMER: This is an educational analysis and not an investment advice!
Follow only your own opinion. Invest only what you can afford to lose.
The idea here is to show the difference between the great descending triangle that imposed its law in 2018
and the ascending triangle being formed!
THE DESCENDING TRIANGLE OF 2018:
The first, the descendant, is constituted like the isosceles triangle of a bearish line BUT also of a horizontal line and not bullish as on the isosceles.
This line of horizontal resistance - in force until November 14, 2018 - does not have as much force as the resistant bearish line, it is the latter which ends up pushing the value to the fall at the exit of triangle.
It was therefore a continuation pattern, that is to say, it was an intermediate phase in the evolution of a value that reinforced the Bearish tendency of early 2018.
Each line in the triangle must be confirmed by at least three points.
The volumes must decrease with time, the more we advance in the triangle, the more the volumes become weak, which was the case.
The volumes must regain momentum at the triangle exit to validate the target, which was also the case from 11-14-2018.
The target is calculated in the same way as for the isosceles triangle (see methodology in my previous related idea).
THE ASCENDING TRIANGLE OF 2019:
All the interest of this idea is to show how much the big triangle in progress is fundamentally different from the big triangle of 2018!
Now, the target price range is calculated as on the previous descending triangle : on the 3rd impact on the down line as I have shown on the graph. BUT with an opposite direction, this time up!
However, no bullish runaway, please! The target amplitude is of course proportional to the size of the triangle that generates it!
In other words, the descending triangle (2018) was very large: the resulting dump on 11-14-2018 was therefore in his image, important!
Conversely, the ascending triangle in progress is tightened: the pump that I therefore envisage if the volumes follow will be in the image of the latter, of low importance: ~ $ 5000 (~ September, 2019) !
DISCLAIMER: This is an educational analysis and not an investment advice!
Follow only your own opinion. Invest only what you can afford to lose.
Trade closed: target reached:
wow! beaten personal record: bullish breakout of ascending triangle validated only half an hour after this publication!
Of course, my chart is defined in 1W (1 week), this beautiful green candle is not visible yet. But my target of $ 5000 was crossed at 5am!
See you soon for new publications.
Of course, my chart is defined in 1W (1 week), this beautiful green candle is not visible yet. But my target of $ 5000 was crossed at 5am!
See you soon for new publications.
