ASCENDING TRIANGLE:
Identify the levels where the price has often closed and opened (black line).
The price is making higher and higher lows.
Draw a bullish diagonal.
Take Profit is calculated by plotting the lowest increase on the black line (see graph).
Report this segment to the BREAK of the black line, but ESPECIALLY to the CLOSING of the candle in its time...
Triangle chart patterns offer valuable insights into market dynamics, symbolizing a clash between buyers and sellers within a contracting price range. These patterns are often classified as continuation or neutral patterns, suggesting that the price is likely to persist in its existing trend after the pattern concludes.
1. Symmetrical Triangle:
A ...
Hello traders, today we will delve into three types of triangles, which are significant chart patterns providing valuable insights into potential market movements. Understanding these patterns can play a pivotal role in making well-informed trading decisions. Let's explore each type and learn how to identify and interpret them effectively.
**1. Symmetrical...
In trading, a bearish pattern is a technical chart pattern that indicates a potential trend reversal from an uptrend to a downtrend. These patterns are characterized by a series of price movements that signal a bearish sentiment among traders.
📍Bear Flag
🔸 A small rectangular pattern that slopes against the preceding trend
🔸 Forms after a rapid price decline...
United States Inflation Rate, Year-over-Year, 1914-2022 chart
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Why do I think inflation will go down to 0%?
Inflation is currently at the main trendline (established in 1920). This is a very strong resistance, and as a general rule, do not short a support or long a resistance. In other words, you...
Draw line touching the lower highs which is the negative slope trend line. Draw horizontal level connecting equal highs. The horizontal level is a zero slope line.
Wait for a convincing close below the horizontal level.
This is a convincing close below the horizontal level. Draw the fib from the previous lower high touching the diagonal trend line. In this...
Chart Patterns | Triangles & Channels
1- Ascending Triangle :-
An ascending triangle is a type of triangle chart pattern that occurs when there is a resistance level and a slope of higher lows.
2- Descending Triangle :-
In descending triangle chart pattern, there is a string of lower highs that forms the upper line. The lower line is a support level in...
he descending triangle pattern is one of the top continuation patterns that appear in the middle of a trend. Traders anticipate the market to continue in the direction of the bigger trend and accordingly develop trading setups.
Triangle is a classic price action pattern that is applied by technical analysts to make predictions trading different financial markets.
Depending on the shape of the triangle, there are three main variations of this pattern.
Its meaning changes dramatically from one to another so it is crucially important for you to know the difference.
👉 The symmetrical...
Triangle is a classic price action pattern that is applied by technical analysts to make predictions trading different financial markets.
Depending on the shape of the triangle, there are three main variations of this pattern.
Its meaning changes dramatically from one to another so it is crucially important for you to know the difference.
👉 The symmetrical...
Triangles are among the most reliabiable of the continuation pateerns. There are 3 types of Triangles with forcasting value.
Ascending Triangles
Descendung Triangles
Symmentrical Triangle
? WINS STOCK MARKET RALLY
? WINS STOCK MARKET DOWNTURN
NO WINNER TONIGHT STOCK MARKET SEVERE DOWNTURN
BECAUSE STOCK MARKET DOES NOT LIKE UNCERTAINTY.
Descending Chart Pattern
Price Bias is Bearish
While gold has an inverse relationship with the dollar, stocks markets also have a deep connection to the metal.
Investors commonly perceive gold as a haven in the...
Just as with ascending triangles, most of the times, the price will break the horizontal support line, and continue with the move lower.
there is usually psychology behind every chart pattern ; and ascending and descending triangles are no exception.
Follow me closely as we will now ‘investigate’ the PSYCHOLOGY behind ascending triangles :
To make the analysis...
Ascending triangles are classified as continuation Patterns . Here are the key elements that make up an ascending triangle:
1. Bottom Trend Line(Support) – An ascending triangle is characterized by a bottom trend line that is formed as the price continues to set higher lows. The more touch points on the trend line, the more reliable it will be.
2. Horizontal...
Descending triangle is in the making. Not confirmed even if we see a rejection at this down sloping trend line. Also just a quick look at the use of the fibonacci retracement tool. We have the extreme high @ 10220 (nice round number 🤔) down to the low of correction @ 8220. A rejection off the 78% fib is common in trading. 78% 38% and the 618 fibs are key in...
Descending Triangle Pattern Tutorial :
Descending Triangle is a bearish pattern and sometimes it also act as bilateral pattern. (about bilateral pattern in the previous post : "https://www.tradingview.com/chart/BTCUSDT/vYen5wAu-Ascending-Triangle-as-Continuation-and-Bilateral-pattern/")
A Descending Triangle Pattern can be easily identified if you see a falling...
Looks like Ethereum just broke the descending triangle. My personal targets are between 100-110 due to strong support/psychological support, though we may see some bounces as we go down. Fast capitulation of the market would be a more bullish indicator for me as it indicates less manipulation and less attempts at whip-lashing retail traders.
Hello fellas, Here it is I represent to you my view about Ripple.
Based on the technical analysis, I found an important pattern which forms a descending type of the triangle. But, once again I remind you that even the descending triangle which usually indicate a bearish pressure, it has a potential to make it a failure too. However, I only see that currently the...
