Hidden Divergence = Sell Symmetrical Triangle = Sell (Continuation of downtrend)
If you just take the descending triangle that is readily observable here at face value, then things look rather bearish. However, we can also now see that a larger symmetrical triangle is coming into view and also a tiny ascending triangle as well (in yellow on the chart). Given that most people are bearish right now, I am going to take an alternative view and...
There appears to be a bullish breakout from a 3 month symmetrical triangle on AKRX. This looks like a textbook breakout (Lower highs & higher lows converging.) A symmetrical triangle alone is a neutral consolidation pattern - only until it breaks one of the trendlines does it signal direction. The price has not only broken the upper trendline, but has spent two...
Hello everyone, In the middle of the week it became apparent that EURUSD is also forming a triangle during its correction. It's symmetrical as it should be, and as I've counted for you it has all its 5 waves complete and clear. I've already shorted this pair hours ago when it got rejected off the upper trendline, but I'm sharing this idea now because I feel...
Hi everyone, This week has been quite slow. Now at the end of the week the trade that I've been waiting for the whole week is about to hit entry. This setup is so powerful that I'm gonna have multiple entries at different levels, so in case the price doesn't get as low as I planned, I don't miss it. As I posted in a separate idea, CADCHF had been stuck within...
First of all, thanks to @SmartTrader for pointing out the Gartley pattern he identified forming on the daily. Although we have different specific levels for the 5 points, the potential reversal zone is close to the same. It also lines up nicely with the zone for our target #1 from the Symmetrical Triangle pattern. We would expect price to continue on it's bullish...
Both the daily and the 1H chart looks bullish. The daily chart has positive divergence, and the 1H got a triangle in play. 1.2350 area looks like bottom to me. Stop loss level 1.2349
The "d" leg has bounced off the trendline perfectly and is heading downwards. We're currently sitting in the "e" leg of the triangle, so it's a crucial moment. Once we hit the lower trendline the price will jump up out of the triangle and a new bullish 5 wave move would be on the way. I'm putting my buy orders at around 0.843 where it takes the same amount of...
Hi, As you all know the long term bias for CADCHF is bearish. Just look at the weekly time-frame. In the Daily time-frame we've seen a correction to the up side (that I called it A leg of a ZigZag) which lasted 201 calendar days. Now I've waited for the B leg correction and as time unfolds it seems to be a Symmetrical Triangle which has already shown its "d...
AUDUSD seems to be consolidating within a symmetrical triangle. Price recently bounced off of the .8660 low, forming a double bottom, normally a reversal pattern, but failed to create higher highs. If price were to continue downward the next strong support level is a 2010 low at .8369. So wait for price to breakout of the triangle before entering and place a stop...
Technicals: Bullish Signals from: Symmetrical Continuation Triangle Expected Price Target: $6.00+ Timeline: 4wks Bollinger Bands – W Bottoms Last bottom lower than the prior with bonce toward middle. MACD Line cross-over with upward direction. Parabolic SAR Start of uptrend with 1 period. Awaiting more confirmation. Net Volume on rise. Conclusion: Short...
The following ideas hinge on price breaking out of the current set of triangles to the down side. We've got two concurrent triangles, one symmetrical, one descending. It is not scandalous to state that our over-all trend is still down since $650. A symmetrical triangle will break in the direction of the over-all trend 75% of the time, while a descending triangle...
A large gold symmetrical triangle is forecasting a large and likely highly volatile and swift move. The direction of the break is unknown.
Bitcoin price has fallen through all the triangles drawn on this chart - including the big green symmetrical triangle based on the $339.79 low. Bitcoin price failed to reach escape velocity after breaking out of Andrews' Pitchfork and could never break above descending blue price trigger line. At this point, there is the possibility that price falls back into the...
(See first part here: ) The third triangle is the black symmetrical triangle. It bears some resemblance to the blue triangle in that price spent quite a bit of time looking as if it might make a run at resistance, but instead falling back toward support. The next element is the Andrews' Pitchfork. Although price broke through the upper parallel line, it has...
Bitcoin $550: The Maginot Line? Recently there has been quite a bit of analysis of the Bitcoin price and support in the $550 to $560 or so range. While on the one hand, there indeed has been some support there, I'm wondering if that level hasn't transformed into the equivalent of the Maginot Line (en.wikipedia.org) - something that appears to be a strong line,...