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Descending Triangle

ETHUSDT: Descending Triangle Signals Potential Bullish BreakoutAs the crypto market buzzes with anticipation, Ethereum (ETH) finds itself at a critical juncture. Currently trading at $3,468, ETH is poised on the edge of a significant technical formation that could dictate its short-term future. Let's dive into the charts and unravel the story they're telling us. The Hourly Dance: Descending Triangle in Focus Over the past 48 hours, ETHUSDT has been painting a compelling picture on the hourly chart. A descending triangle has formed, with the upper boundary at $3,480 and the lower support hovering around $3,373. This pattern, often seen as a bullish formation, has traders on the edge of their seats. The descending triangle is like a coiled spring, with price action compressing between these two levels. Each touch of the resistance and support adds tension, potentially leading to a powerful breakout. Technical Indicators: The Plot Thickens Let's add some color to our analysis with a few key technical indicators: Moving Averages: The 50-hour and 200-hour moving averages are converging, suggesting a potential golden cross on the horizon. This bullish signal could provide additional fuel for an upward move. Relative Strength Index (RSI): Currently, the RSI is floating in neutral territory, neither overbought nor oversold. This gives ETH room to move in either direction without immediate resistance from this indicator. The Bigger Picture: Daily Chart Bullish Target Zooming out to the daily chart, the outlook becomes even more exciting. A successful breakout from this descending triangle could set the stage for a significant rally. The long-term price target? A mouth-watering 10% upside from current levels. Imagine the possibilities if ETH breaks above $3,480 with conviction. We could be looking at prices north of $3,800 in the coming weeks! Market Sentiment: Regulatory Winds of Change It's not just the charts that are stirring up excitement. Recent regulatory updates have been sending ripples through the crypto space. While the specifics remain hazy, there's a growing sense that clearer regulations could pave the way for increased institutional adoption of Ethereum. This backdrop of potential regulatory clarity adds an extra layer of intrigue to our technical setup. Could positive news be the catalyst that sends ETH soaring through resistance? Trading the Triangle: Entry Points and Risk Management For those looking to ride this potential bullish wave, here are some key levels to watch: Breakout Entry: A decisive move above $3,480 could signal the start of a strong uptrend. Consider setting alerts at this level. Support Entry: For the more risk-tolerant, entries near the $3,373 support could offer an attractive risk-reward ratio. Moving Average Crossover: Keep an eye on the 50-hour and 200-hour moving averages. A bullish crossover could provide additional confirmation of upward momentum. Remember, always use proper risk management. Consider setting stop losses below the $3,373 support to protect your capital. #Ethereum #ETH #CryptoMarket #TechnicalAnalysis #DescendingTriangle #ETHUSDT #BullishFormation #GoldenCross #RSI #MovingAverages #CryptoTrading #BlockchainTechnology #CryptoRegulation #InstitutionalAdoption #BullishTarget #RiskManagement #CryptoNews #MarketSentiment #TradingStrategy #CryptoPriceTarget
by XTradeSetup
EURAUD I Wait for breakout of descending triangle Welcome back! Let me know your thoughts in the comments! ** EURAUD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!Welcome back! Let me know your thoughts in the comments!
by BKTradingAcademy
6
Netflix Descending Triangle BreakoutThank you everybody for dropping in on this trade idea setup in Netflix. Bullish descending triangle continuation pattern developing here looking like it's about to burst for next week or maybe this Friday as long as the market keeps going up. I want to make sure that I'm getting into these mega cap stocks because that seems to be the only thing that's really on an uptrend and making plays that are multi day uptrends. Another stock I'm looking at is Amazon because it seems to be basing out but I want to wait a little bit until after I get into Netflix before I jump into any other trades since I have a good amount of position size already allocated in my entire portfolio.
NASDAQ:NFLXLong
by PappyTrading
Tesla - Triangle and -33% drop!Hello Traders and Investors, today I will take a look at Tesla . -------- Explanation of my video analysis: With Tesla stock breaking above previous resistance in 2019 and coming back to retest it in 2020, this stock then took off and created one of the most insane rallies which I have ever seen. At the moment though, Tesla is consolidating in a descending triangle formation and there is a high chance that Tesla will again come back to retest the lower support at $110 for a third time. -------- Keep your long term vision, Philip (BasicTrading)
NASDAQ:TSLAShort
by SwingTraderPhilTV
8
CHARTIST TRIANGLES: HOW DOES IT WORK? ANSWER is HERE!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 unit!!! ___________________________________________________ DESCENDING TRIANGLE: Identify the levels where the price has often closed and opened (black line). The price makes higher and lower highs. Draw a bullish diagonal. Take Profit is calculated by plotting the highest drop 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 unit!!! ___________________________________________________ SYMMETRICAL TRIANGLE: The triangle of indecision, just like the RANGE!! The price is tightening, and we don't know in which direction it's going PETER!!?? Draw a bullish and bearish diagonal. Wait for a break in one of the diagonals. The Take Profit is calculated by reporting the highest side of the rectangle which made a PULLBACK (see my old publication on "PULLBACK") and see graph below. Report this segment to the BREAK of one of the diagonals, but ESPECIALLY to the CLOSING of the candle in its time unit!!! STOP Loss below the previous low if you are BUYING. STOP Loss above the previous high if you are SHORT (Seller). ​
Education
by Le-Loup-de-Zurich
US2000: Thoughts and AnalysisToday's focus: US2000 Pattern – Descending Triangle Pattern Support – 1840 Resistance – 1870 Thanks for checking out today’s update. Today, we have run over US2000, breaking down the overall price picture, levels, and patterns and incorporating moving average and RSI into the analysis. The Russel isn’t a market I normally watch or trade, but the descending triangle pattern did catch my eye today. Overall price sits in a range, but it has broken a trend on the inside and set up a LH. These patterns are normally seen as bearish after a trend break, but support looks rather firm at this stage. With the FOMC coming up later this week, watch out for a false breakout lower that closes higher. This could set up a higher breakout. If sellers continue to push at support, look for a solid close-through support with a new failed rally that sets a new weekly low. It’s going to be interesting to see which side gets the win here. Have a great day and good trading.
EIGHTCAP:US2000
by Eightcap
📈 PERP/USDT Descending Triangle Breakout 🚀Hey traders! 👋 PERP/USDT just made an exciting move that caught our attention. 🚀📉 Chart Analysis: We've been tracking PERP/USDT for a while, and it's been forming a descending triangle pattern. This pattern typically signals a potential breakout on the horizon. 📉📈 Today, we witnessed the anticipated breakout to the upside! 🚀🚀 This bullish move is certainly exciting news for PERP traders. Key Points: 🔹 PERP/USDT broke above the upper trendline of the descending triangle. 🔹 Volume surged during the breakout, confirming the move's strength. 🔹 The next resistance levels to watch are at $12 and $14. Trading Strategy: While this breakout is promising, it's essential to exercise caution. Always have a clear risk management strategy in place. Consider setting stop-loss orders to protect your positions and locking in profits as the price continues to rise. 🛡️💰 Remember, trading involves risks, so trade responsibly and only with what you can afford to lose. 🚨 Keep an eye on PERP/USDT as it continues its journey. The crypto market is full of surprises, and this breakout could lead to exciting opportunities. 🌟 Happy trading, and may the charts be in your favor! 📊🤞 #PERP #USDT #CryptoTrading #TechnicalAnalysis #Breakout #DescendingTriangle #CryptoMarket #TradingView #CryptoAlert
Long
by STP_MrNodeItAll
2
MANAUSDT is testing creating a bearflag The price is testing the monthly support after a bounce on the monthly support on 1.45$ on the daily timeframe the price lost the support and now the market wants to retest it. on the 4h timeframe the price is creating a bearflag below the weekly resistance. how to approach it? IF the price is going to have a breakdown from the bearflag, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Short
by InkyGrip
8
WOCKPHARMA gives a breakout. Add to Watchlist.NSE:WOCKPHARMA Aim for 5-10%. It can be easily achievable in 1-3 days. My belief is to choose high winning probability trade with a risk-reward ratio going from 1:1 to 1:2. The reason for booking profit of only 6-8% is because the market direction is not sure at this point. So better to aim for 1:1 risk-reward and rotate your money in better opportunities. It is an analysis video. Take your decision on your own. Take trade if all conditions meet at the end of the day 3:15-3:30 PM. If you have any questions or suggestions, please leave a comment below. I will personally reply to every single comment! If you enjoyed this analysis, I would definitely appreciate it, if you smash that like button and maybe consider following my channel.
NSE:WOCKPHARMALong
by Chartmaniac
GBPJPY - Descending Triangle breakoutFollowing up on last weeks $GBPJPY weekly head and shoulders top idea, this week the $GBPJPY or "The Beast" as we call it, is putting in a descending triangle which has me anticipating a bearish breakout. I'm not sure if it will come this week as the pattern has only just became valid, but certainly something that is very high on my radar as this is one of my favorite patterns to trade. If you have any questions, comments or just want to share you idea, please feel free to do so below. Akil
Short
by Akil_Stokes
1
US DOLLAR INDEX - Various Reasons for Shorts at Structure Hey guys, in this video I'm going to walk you through my higher timeframe analysis on the $DXY & show you how I create a directional bias on the higher timeframes followed by what clues I use for added confirmation as I work down to the lower timeframes & look for potential reasons for entry. Please hit that LIKE button if you enjoyed the video & also don't be shy about leaving me any questions or comments below as I do read through each and every one of them Wish you a great trading week - Akil
TVC:DXYShort
by Akil_Stokes