A few people are waiting for the price to retest the bottom of the triangle.
I'm not sure if it will go back up to retest all the way as it's already bounced off of a channel.
Turns out not to be a flag.
It's either going to break the downtrend and start an uptrend or bounce off of the purple resistance and hopefully break down through the larger timeframe triangle.
My money is on the downtrend.
Lets see what Happens :)
The bright green line is the bottom of a daily chart descending triangle.
The bright blue triangle formed in the purple channel really confused me when it broke out as it went down and then up.
I'm seeing what I believe to be a flag.
It has retraced just over 38% of the previous downtrend which is about up to where flags retrace.
So I'm looking for a break to...
At the moment, We are sitting at the bottom of a long term triangle.
The bright blue is a much shorter term triangle.
We've got what I believe to be a flag, although I'm not sure if flags are allowed to continue on the previous trend or if they have to be counter trend.
Prices could bounce back down from the short term triangle (Light Blue) or they may break...
A small channel was broken to the downside.
This could either bounce off of the light blue triangle and continue up or it could keep going down towards the larger timeframe descending triangle (Dark Blue Line).
Lets see what Happens :)
Theres a rising channel in the hour chart which need to decide whether to break the downtrend and head back up or to continue on the downtrend and possibly break down through the triangle from the higher timeframe (Dark Blue Line).
Lets see what Happens :)
On my Daily chart I've got a triple top or head and shoulders. I'm not sure exactly what it is.
The green up trend line that you see is the up trend of the third peak of the triple top.
A short term down trend line was broken and what looks like a flag or channel has formed.
If it breaks down and through the green trend line then that would indicate that the...
Triangle on 15 minute timeframe about to break.
If you're quick you could probably take a trade.
The bright green trend line is a trend that I'm waiting to be broken downwards, so I think it's going down.
Lets see what happens :)
A triangle seems to have formed in the shorter time frames.
In the longer term it seems the current downtrend could be a corrective move for the previous uptrend. It has retraced about 50% which is a common corrective move retracement.
I'm waiting to see a break to the top, a test of the now resistance line (then support) and then a new up trend to start.
Any...
As predicted, the dark green triangle broke up.
The bright green trend line is a triangle from a higher timeframe which, as you can see, was broken to the top but then came down again.
I'm not sure why it did that. I think it's the first time I've seen something like this so I'm going to watch it to see what it does.
Any ideas are welcome.
Lets see what happens :)
The price is currently at the bottom of a long term descending triangle which is just about halfway complete which means it probably won't break down out of the triangle.
What you see on this chart is the bottom of the long term triangle and down trend line that was broken.
It seems a flag has formed which means when it breaks to the top a buy is triggered.
It looks like the triangle will be penetrated short, giving the opportunity for a short trade. I will put in my trade when the triangle is penetrated and the price action has intersected the bolinger bands.
We've had a strong uptrend that I believe to be our flagpole.
Prices seem to be consolidating now. Max consolidation should go to 38% of the initial uptrend, so if it retraces below that we'd be looking at a new downtrend.
Some might say take a long at the bottom of the flag, but I'd prefer to wait for a break above the flag to go long.
Lets see what happens :)
The Green line is the resistance from the day chart.
There seems to be decent support for the triangle at A and B.
I'm watching to see if it bounces back up and possibly breaks up to start a new trend or if it breaks down.
I'm not sure if I'd take a short if it breaks down just because I'm not very certain about my analysis.
Any ideas?
